Q1 2026 Atlantic Union Bankshares Corp Earnings Call Transcript
Key Points
- Atlantic Union Bankshares Corp (AUB) reported solid first-quarter financial results, reflecting disciplined execution and successful integration of Sandy Spring Bank.
- Quarterly loan growth was approximately 2.2% annualized, with total loans ending at $27.9 billion, showcasing strong loan production.
- The company experienced record-level fundings from Atlantic Union Equipment Finance and record-level production from the North Carolina-based commercial real estate team.
- Credit quality continues to show strength and improvement, with a first-quarter annualized net charge-off ratio of just two basis points.
- The deposit base demonstrated strong customer deposit growth, nearly offsetting the planned reduction in high-cost broker deposits, indicating a robust liquidity strategy.
- The company experienced elevated payoffs late in the quarter, particularly within the commercial real estate portfolio, due to property sales.
- Net interest margin declined by 11 basis points to 3.85%, mainly due to lower accretion income compared to the previous quarter.
- Non-interest income declined by $2.2 million, primarily driven by lower loan-related interest rate swap fees.
- The geopolitical conflict in Iran and the resulting increase in petroleum prices pose potential risks to consumer and business confidence.
- The company lowered its full-year net interest income outlook due to increased deposit rate competition and lower purchase accounting accretion.
Good day, and thank you for standing by. Welcome to the Atlantic Union Bankshares first-quarter 2026 earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Bill Cimino, Senior Vice President, Investor Relations. Please go ahead, sir.
Thank you, Michelle, and good morning, everyone. I have Atlantic Union Bankshares' President and CEO, John Asbury; and Executive Vice President and CFO, Alex Dodd with me today. Since Alex is only eight days into his job, former CFO, Rob Gorman will cover the first-quarter financial results in his transition capacity as a Senior Financial Advisor to the company until his September 30 retirement.
We also have other members of our executive management team with us for the question and answer period. Please note that today's earnings release and the accompanying slide presentation we are going through on this webcast are available to
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