Atlantic Union Bankshares (AUB) Investor presentation summary

Company overview and market position

• Operates 129 branches across Virginia, North Carolina, and Maryland, with $24.6B in assets and $20.4B in loans as of December 31, 2024.

• Holds the #1 regional bank deposit market share in Virginia, with 24.3% among VA-headquartered banks.

• Dense presence in attractive, high-income, and high-growth markets, including top business states Virginia and North Carolina.

• Focuses on organic and acquisition-driven growth, with recent acquisitions and pending merger with Sandy Spring Bancorp.

• Strong balance sheet and capital levels, with a solid dividend yield and payout ratio.

Financial performance and outlook

• Loans grew ~3% annualized and deposits ~2% annualized in Q4 2024; loan/deposit ratio at 90.6%.

• Q4 2024 adjusted operating ROTCE was 15.30%, and ROA was 1.03%; full-year 2024 ROTCE was 16.12%, and ROA was 1.06%.

• Efficiency ratio improved to 52.67% in Q4 and 53.31% for 2024.

• 2025 outlook projects mid-single digit growth in loans and deposits, net interest income of $775–$800M, and net charge-off ratio of 15–20 bps.

• Maintains a strong capital position, with CET1 ratio at 12.4% and leverage ratio at 9.3% as of December 31, 2024.

Asset quality and risk management

• Q4 2024 net charge-offs at 3 bps annualized; full-year net charge-offs at 5 bps.

• Allowance for credit losses increased to $193.7M (1.05% of loans) at year-end, reflecting economic uncertainty and a new specific reserve.

• Diversified $18.5B loan portfolio, with 59.5% in CRE and multifamily, and granular exposure across geographies and asset types.

• Non-owner occupied office CRE portfolio is geographically diverse, with low delinquencies and criticized loans at 8.48%.

• Core deposit base is 88% of total deposits, with 48% transactional accounts and a cost of deposits at 2.48% in Q4 2024.