AUBHIGH SIGNALMANAGEMENT10-K

Atlantic Union Bancshares completed its acquisition of Sandy Spring Bancorp on April 1, 2025, substantially expanding the combined entity's scale and geographic footprint.

This transformative merger has created a significantly larger regional banking franchise, with total assets growing to $37.6 billion and deposits reaching $30.5 billion. The integration represents a major strategic shift that should provide enhanced market presence and potential operating leverage, though execution risks around systems integration and cultural alignment remain key factors to monitor.

Comparing 2026-02-26 vs 2025-02-27View on EDGAR →
FINANCIAL ANALYSIS

The Sandy Spring acquisition drove substantial balance sheet expansion across all major categories, with stockholders' equity growing 59% to $5.0 billion and total debt increasing 85% to $771.9 million. Net interest income grew meaningfully to $1.8 billion while net income increased 31% to $273.7 million, reflecting the enlarged scale but also suggesting modest near-term margin compression typical of merger integrations. The financial profile indicates a successfully executed combination that has meaningfully enhanced AUB's market position and earnings capacity.

FINANCIAL STATEMENT CHANGES
Total Debt
Balance Sheet
+84.5%
$418.3M→$771.9M

Debt increased 84.5% — substantial leverage increase; assess whether deployed for growth or covering losses.

Stockholders Equity
Balance Sheet
+59.3%
$3.1B→$5.0B

Equity base grew 59.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Total Assets
Balance Sheet
+52.9%
$24.6B→$37.6B

Asset base grew 52.9% — expansion through organic growth, acquisitions, or capital deployment.

Total Liabilities
Balance Sheet
+51.9%
$21.4B→$32.6B

Liabilities grew 51.9% — significant increase in debt or obligations, assess impact on financial flexibility.

Total Deposits
Balance Sheet
+49.4%
$20.4B→$30.5B

Deposits grew 49.4% — expanding customer base or increased trust in the institution.

Net Interest Income
P&L
+48.4%
$1.2B→$1.8B

Net interest income grew 48.4% — benefiting from rate environment or loan book expansion.

Net Income
P&L
+30.9%
$209.1M→$273.7M

Net income grew 30.9% — bottom-line growth signals improving overall business health.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-02-27
ADDED
Sandy Spring refers to Sandy Spring Bancorp, Inc., which we acquired on April 1, 2025, pursuant to the Agreement and Plan of Merger dated October 21, 2024, by and between the Company and Sandy Spring, which we refer to as the Sandy Spring merger agreement .
American National refers to American National Bankshares Inc., which we acquired on April 1, 2024, pursuant to the Agreement and Plan of Merger dated July 24, 2023, by and between the Company and American National.
Actual future results, performance, achievements or trends may differ materially from historical results or those anticipated depending on a variety of factors, including, but not limited to, the effects of or changes in: market interest rates and their related impacts on macroeconomic conditions, customer and client behavior, our funding costs, and our loan and securities portfolios; economic conditions, including inflation and recessionary conditions and their related impacts on economic growth and customer and client behavior; U.S.
All risk factors and uncertainties described herein should be considered in evaluating forward-looking statements, and all of the forward-looking statements made in this Form 10-K are expressly qualified by the cautionary statements contained or referred to herein.
Readers are cautioned not to rely too heavily on the forward-looking statements contained in this Form 10-K.
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REMOVED
The Company entered into an Agreement and Plan of Merger on October 21, 2024 with Sandy Spring Bancorp, Inc., which we refer to as the merger agreement , pursuant to which the Company will acquire Sandy Spring Bancorp, Inc., which we refer to as Sandy Spring .
American National refers to American National Bankshares Inc., which we acquired on April 1, 2024, pursuant to the Agreement and Plan of Merger dated July 24, 2023, by and between the Company and American National, which we refer to as the American National merger agreement .
Glossary of Acronyms Glossary of Acronyms and Defined Terms ACL Allowance for credit losses AFS Available for sale ALLL Allowance for loan and lease losses, a component of the ACL AOCI Accumulated other comprehensive income (loss) ASC Accounting Standards Codification ASU Accounting Standards Update BHCA Bank Holding Company Act of 1956, as amended BOLI Bank-owned life insurance bps Basis points CECL Current expected credit losses CFPB Consumer Financial Protection Bureau CRA Community Reinvestment Act of 1977 CRE Commercial real estate DHFB Dixon, Hubard, Feinour Brown, Inc.
EPS Earnings per common share FASB Financial Accounting Standards Board FDIC Federal Deposit Insurance Corporation FRB Federal Reserve Bank of Richmond FHLB Federal Home Loan Bank of Atlanta FOMC Federal Open Market Committee FTE Fully taxable equivalent GAAP Accounting principles generally accepted in the United States HTM Held to maturity LHFI Loans held for investment LHFS Loans held for sale MBS Mortgage-Backed Securities NPA Nonperforming assets NYSE New York Stock Exchange PCD Purchased credit deteriorated SBA Small Business Administration SEC U.S.
All risk factors and uncertainties described herein should be considered in evaluating forward-looking statements, all forward-looking statements made in this Form 10-K are expressly qualified by the cautionary statements contained in this Form 10-K, and undue reliance should not be placed on such forward-looking statements.
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