ATLANTIC UNION BANKSHARES CORP AUB Income Statement

Atlantic union bankshares corp (AUB)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest and dividend income:
Interest and fees on loans
612,115	469,856	293,996	261,383	247,587	246,366	155,548	162,637	168,479	169,549	112,316
Interest on federal funds sold
-	-	-	-	-	-	-	1	1	17	1
Interest on deposits in other banks
3,733	2,125	539	244	94	60	17	62	123	79	135
Interest and dividends on securities:
Taxable
51,437	36,851	20,305	18,319	15,606	15,226	8,202	11,912	13,387	13,974	10,606
Nontaxable
32,047	19,956	14,204	13,790	13,484	13,293	8,360	7,251	7,083	6,202	5,529
Total interest and dividend income
699,332	528,788	329,044	293,736	276,771	274,945	172,127	181,863	189,073	189,821	128,587
Interest expense:
Interest on deposits
114,972	59,336	26,106	17,731	15,553	11,034	14,097	19,446	24,346	30,742	39,451
Interest on federal funds purchased
-	-	-	-	-	-	89	50	7	33	27
Interest on short-term borrowings
15,479	18,458	6,035	2,894	944	566	265	234	352	1,480	2,261
Interest on long-term borrowings
31,009	24,303	17,896	9,145	8,440	8,327	6,050	7,778	8,008	5,990	7,032
Total interest expense
161,460	102,097	50,037	29,770	24,937	19,927	20,501	27,508	32,713	38,245	48,771
Net interest income
537,872	426,691	279,007	263,966	251,834	255,018	151,626	154,355	156,360	151,576	79,816
Provision for credit losses
21,092	13,736	10,802	8,883	9,571	7,800	6,056	12,200	16,800	24,368	18,246
Net interest income after provision for credit losses
516,780	412,955	268,205	255,083	242,263	247,218	145,570	142,155	139,560	127,208	61,570
Noninterest income:
Mortgage banking income
10,303	0	0	-	9,767	9,707	11,900	16,651	11,052	11,798	16,654
Gains (losses) on securities transactions
7,675	383	800	205	1,486	1,695	21	190	913	58	163
Other-than-temporary impairment losses
-	-	-	-	300	0	-	-	400	-	0
Gains (losses) on sales of bank premises
-	-	-	-	-	-	-	2	-996	421	-37
Bank owned life insurance income
8,311	7,198	6,144	5,513	4,593	4,648	2,311	1,950	-	-	-
Gain on Shore Premier sale
0	19,966	0	0	-	-	-	-	-	-	-
Loan-related interest rate swap fees
14,126	3,554	3,051	4,254	412	293	-	-	-	-	-
Other operating income
17,791	7,145	2,772	3,007	5,429	3,204	1,214	1,028	3,833	3,961	1,932
Total noninterest income
132,815	104,241	62,429	59,849	65,007	61,287	38,728	41,068	32,964	34,217	32,967
Noninterest expenses:
Salaries and benefits
195,349	159,378	115,968	110,521	104,192	107,804	70,369	68,648	62,865	57,560	43,315
Occupancy expenses
29,793	25,368	18,558	18,502	20,053	20,136	11,543	12,150	11,104	11,417	7,051
Furniture and equipment expenses
14,216	11,991	10,047	9,814	11,674	11,872	6,884	7,251	6,920	6,594	4,573
Printing, postage, and supplies
5,056	4,650	4,901	4,610	5,124	4,924	2,970	2,649	-	-	-
Communications expense
-	-	-	3,744	4,634	4,902	2,681	3,070	-	-	-
Technology and data processing
23,686	18,397	16,132	15,032	13,667	12,465	7,754	7,510	-	-	-
Professional services
11,905	10,283	7,767	8,051	6,309	5,594	3,419	3,035	-	-	-
Marketing and advertising expense
11,566	10,043	7,795	7,756	7,215	6,406	4,312	5,473	-	-	-
FDIC assessment premiums and other insurance
6,874	6,644	4,048	5,406	5,376	6,125	3,110	2,373	-	-	-
Other taxes
15,749	11,542	8,087	5,448	6,227	5,784	3,181	3,017	-	-	-
Loan-related expenses
10,043	7,206	4,733	4,168	4,097	3,469	2,447	2,254	-	-	-
OREO and credit-related expenses
4,708	4,131	3,764	2,600	8,911	10,164	4,880	4,639	-	-	-
Amortization of intangible assets
18,521	12,839	6,088	7,210	8,445	9,795	3,831	5,336	-	-	-
Training and other personnel costs
6,376	4,259	3,843	3,359	3,675	2,893	2,062	-	-	-	-
Merger-related costs
27,824	39,728	5,393	0	0	20,345	2,132	-	-	-	-
Rebranding expense
6,455	0	0	-	-	-	-	-	-	-	-
Loss on debt extinguishment
-16,397	0	0	-	-	-	-	-	-	-	-
Other expenses
13,822	11,308	8,544	6,869	7,283	5,538	5,472	6,074	49,926	54,349	30,348
Total noninterest expenses
418,340	337,767	225,668	213,090	216,882	238,216	137,047	133,479	130,815	129,920	85,287
Income from continuing operations before income taxes
231,255	179,429	104,966	101,842	90,388	70,289	47,251	49,744	41,709	31,505	9,250
Income tax expense
37,557	30,016	32,790	25,944	23,309	18,125	12,885	14,333	11,264	8,583	890
Income from continuing operations
193,698	149,413	72,176	75,898	-	-	-	-	-	-	-
Discontinued operations:
Income (loss) from operations of discontinued mortgage segment
-230	-4,280	1,344	2,412	-	-	-	-	-	-	-
Income tax expense (benefit)
-60	-1,115	597	834	-	-	-	-	-	-	-
Income (loss) on discontinued operations
-170	-3,165	747	1,578	-	-	-	-	-	-	-
Net income
193,528	146,248	72,923	77,476	67,079	52,164	34,366	35,411	30,445	22,922	8,360
Dividends paid and accumulated on preferred stock
-	-	-	-	-	-	-	-	1,499	1,688	2,696
Accretion of discount on preferred stock
-	-	-	-	-	-	-	-	1,177	226	2,790
Net income available to common stockholders
-	-	-	-	-	-	-	-	27,769	21,008	2,874
Basic earnings per common share (in dollars per share)
2.41	2.22	1.67	1.77	1.49	1.13	1.38	1.37	1.07	0.83	0.19
Diluted earnings per common share (in dollars per share)
2.41	2.22	1.67	1.77	1.49	1.13	1.37	1.37	1.07	0.83	0.19
Dividends declared per common share (in dollars per share)
0.96	0.88	0.81	0.77	0.68	0.58	0.54	-	-	-	-
Weighted average number of shares outstanding:
Basic weighted average number of common shares outstanding (in shares)
80,201	65,859	43,699	43,784	45,054	46,036	24,975	-	-	-	-
Diluted weighted average number of common shares outstanding (in shares)
80,264	65,909	43,780	43,890	45,138	46,130	25,030	-	-	-	-
Service charges on deposit accounts
Noninterest income
30,202	25,439	18,850	18,168	18,904	17,721	9,492	9,033	8,826	9,105	8,252
Other service charges, commissions and fees
Noninterest income
6,423	5,603	4,593	4,445	15,575	14,983	8,607	7,890	9,736	8,874	6,003
Interchange fees
Noninterest income
14,619	18,803	14,974	14,058	-	-	-	-	-	-	-
Fiduciary and asset management fees
Noninterest income
23,365	16,150	11,245	10,199	9,141	9,036	5,183	4,324	-	-	-