ATLANTIC UNION BANKSHARES CORP AUB Income Statement

Atlantic union bankshares corp (AUB)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest and dividend income:
Interest and fees on loans
151,127	152,511	156,651	158,838	144,115	121,847	115,817	119,540	112,652	77,998	75,597	72,317	68,084	67,499	66,190	64,747	62,947	61,880	62,651	62,604	60,452	61,371	62,340	61,386	61,269	38,742	38,895	38,687	39,224	40,894	40,836	40,299	40,608	41,480	42,664	42,332	42,003	43,571	44,269
Interest on federal funds sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	0	-	-	1	-	-	2	3
Interest on deposits in other banks
862	1,686	1,030	544	473	310	492	676	647	172	181	115	71	67	65	65	47	30	23	24	17	18	21	9	12	3	3	6	5	4	4	32	22	66	24	28	5	49	15
Interest and dividends on securities:
Taxable
11,627	12,378	12,625	13,353	13,081	11,622	10,145	8,012	7,072	5,225	5,175	4,982	4,923	4,761	4,732	4,510	4,316	3,985	3,954	3,860	3,807	3,835	3,883	3,860	3,648	2,345	1,849	1,939	2,069	2,424	2,848	3,184	3,456	2,984	3,146	3,627	3,630	3,176	3,503
Nontaxable
7,709	7,635	8,039	8,390	7,983	6,858	4,909	4,181	4,008	3,584	3,546	3,512	3,562	3,446	3,446	3,459	3,439	3,422	3,372	3,366	3,324	3,288	3,347	3,379	3,279	2,225	2,094	2,054	1,987	1,862	1,814	1,787	1,788	1,789	1,771	1,769	1,754	1,642	1,532
Total interest and dividend income
171,325	174,210	178,345	181,125	165,652	140,637	131,363	132,409	124,379	86,979	84,499	80,926	76,640	75,773	74,433	72,781	70,749	69,317	70,000	69,854	67,600	68,512	69,591	68,634	68,208	43,315	42,841	42,686	43,285	45,184	45,503	45,302	45,874	46,319	47,606	47,756	47,392	48,440	49,322
Interest expense:
Interest on deposits
28,513	30,884	30,849	28,809	24,430	19,149	15,928	13,047	11,212	7,695	7,234	6,100	5,077	4,787	4,552	4,197	4,195	4,348	4,204	3,680	3,321	3,201	3,027	2,550	2,256	3,063	3,371	3,701	3,962	4,362	4,726	5,023	5,335	5,572	5,924	6,166	6,684	7,956	7,837
Interest on federal funds purchased
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	4	1	-	3	23	24	27	26	21	15	-	28	1	-	0	0	0	7	5	-
Interest on short-term borrowings
1,340	1,165	2,200	5,563	6,551	5,664	3,379	5,166	4,249	1,814	1,871	1,400	950	796	765	710	623	217	223	255	249	193	108	146	119	95	62	54	54	74	69	47	44	17	92	82	161	367	663
Interest on long-term borrowings
6,464	7,031	8,695	8,159	7,124	6,736	6,093	6,028	5,446	4,581	4,547	4,722	4,046	2,759	2,088	2,098	2,200	2,153	2,128	2,099	2,060	2,102	1,974	2,200	2,051	1,518	1,524	1,507	1,501	1,568	1,918	2,144	2,148	2,239	2,144	1,885	1,740	1,463	1,255
Total interest expense
36,317	39,080	41,744	42,531	38,105	31,549	25,400	24,241	20,907	14,090	13,652	12,222	10,073	8,342	7,405	7,005	7,018	6,712	6,556	6,038	5,631	5,446	5,112	4,919	4,450	4,703	4,983	5,283	5,532	6,025	6,741	7,215	7,527	7,828	8,160	8,133	8,592	9,791	9,755
Net interest income
135,008	135,130	136,601	138,594	127,547	109,088	105,963	108,168	103,472	72,889	70,847	68,704	66,567	67,431	67,028	65,776	63,731	62,605	63,444	63,816	61,969	63,066	64,479	63,715	63,758	38,612	37,858	37,403	37,753	39,159	38,762	38,087	38,347	38,491	39,446	39,623	38,800	38,649	39,567
Provision for credit losses
60,196	2,900	9,100	5,300	3,792	4,725	3,340	2,147	3,524	3,440	3,056	2,184	2,122	1,507	2,472	2,300	2,604	2,010	2,062	3,749	1,750	-	1,800	1,500	-	1,206	1,800	1,000	2,050	3,300	2,400	3,000	3,500	2,400	3,600	4,500	6,300	5,912	3,955
Net interest income after provision for credit losses
74,812	132,230	127,501	133,294	123,755	104,363	102,623	106,021	99,948	69,449	67,791	66,520	64,445	65,924	64,556	63,476	61,127	60,595	61,382	60,067	60,219	58,566	62,679	62,215	63,758	37,406	36,058	36,403	35,703	35,859	36,362	35,087	34,847	36,091	35,846	35,123	32,500	32,737	35,612
Noninterest income:
Mortgage banking income
2,022	2,690	3,374	2,785	1,454	0	0	0	0	-	-	-	2,025	-	3,207	2,972	2,146	2,184	2,630	2,574	2,379	1,782	2,598	3,030	2,297	1,319	2,061	4,668	3,852	5,298	4,755	3,832	2,766	-3,080	4,861	4,303	4,968	5,962	5,248
Gains (losses) on securities transactions
1,936	-	-	-	151	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gains (losses) on securities transactions
-	-	7,104	51	-	161	97	-88	213	18	184	117	481	59	0	3	143	814	75	404	193	245	995	426	29	-26	5	53	-11	186	-1	10	-5	430	499	0	-16	38	5
Other-than-temporary impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	400	-	-	-	-
Gains (losses) on sales of bank premises
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-7	-34	-296	-31	-309	373	-31	110	-16	-791	-299	332	5
Bank owned life insurance income
2,049	2,119	2,062	2,075	2,055	2,071	1,732	1,728	1,667	1,307	1,377	1,335	2,125	1,391	1,389	1,361	1,372	1,163	1,161	1,134	1,135	1,181	1,195	1,183	1,089	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on Shore Premier sale
-	-	-	0	-	-	-933	20,899	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan-related interest rate swap fees
3,948	3,470	5,480	3,716	1,460	1,376	562	898	718	424	416	1,031	1,180	1,198	1,303	1,091	662	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating income
2,141	2,746	12,708	1,440	897	2,259	1,028	861	2,997	544	777	454	997	538	845	1,061	563	1,077	1,907	1,115	1,330	975	1,179	622	428	-2,539	1,498	1,044	1,211	-2,057	1,067	973	1,045	1,118	919	884	912	918	1,326
Total noninterest income
28,907	29,193	48,106	30,578	24,938	23,490	19,887	40,597	20,267	13,098	15,230	15,262	18,839	6,992	18,950	17,993	15,914	17,016	16,725	16,212	15,054	14,901	16,318	16,280	13,788	8,378	9,216	11,299	9,835	11,836	10,502	10,253	8,477	1,043	11,411	9,963	10,547	12,353	12,101
Noninterest expenses:
Salaries and benefits
50,117	47,234	49,718	50,390	48,007	38,581	39,279	40,777	40,741	26,683	28,187	28,930	32,168	23,461	30,493	28,519	28,048	25,286	25,853	25,561	27,492	25,338	25,636	27,616	29,214	17,075	17,416	17,912	17,966	17,621	17,116	16,935	16,976	9,555	18,076	17,580	17,654	17,451	17,403
Occupancy expenses
7,133	7,367	7,493	7,534	7,399	6,591	6,551	6,159	6,067	4,524	4,678	4,453	4,903	3,876	4,841	4,809	4,976	4,832	4,915	5,173	5,133	4,952	4,902	5,102	5,180	3,104	2,820	2,764	2,855	3,149	3,262	3,092	2,647	2,797	2,885	2,668	2,754	2,947	2,871
Furniture and equipment expenses
3,741	3,559	3,719	3,542	3,396	2,968	2,983	3,103	2,937	2,392	2,454	2,598	2,603	1,948	2,635	2,595	2,636	2,857	3,015	2,989	2,813	3,317	3,050	2,637	2,868	1,633	1,665	1,741	1,845	1,811	1,809	1,868	1,763	1,823	1,756	1,679	1,662	1,691	1,781
Printing, postage, and supplies
1,290	1,294	1,268	1,252	1,242	1,125	1,183	1,282	1,060	1,219	1,139	1,393	1,150	1,044	1,147	1,280	1,139	1,155	1,191	1,408	1,370	1,241	1,290	1,170	1,223	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Communications expense
-	-	1,037	1,157	-	-	872	1,009	1,095	-	796	870	910	780	948	927	1,089	1,153	1,159	1,143	1,179	1,162	1,291	1,351	1,098	612	698	675	696	-	-	-	-	-	-	-	-	-	-
Technology and data processing
6,169	6,484	5,787	5,739	5,676	4,674	4,841	4,322	4,560	4,242	4,148	3,842	3,900	3,693	3,917	3,608	3,814	3,647	3,549	3,216	3,255	3,319	3,280	2,792	3,074	1,976	2,013	2,021	1,744	-	-	-	-	-	-	-	-	-	-
Professional services
3,307	3,636	2,681	2,630	2,958	2,183	2,875	2,671	2,554	2,107	1,948	2,054	1,658	1,619	1,895	2,548	1,989	1,301	1,991	1,669	1,348	1,697	1,400	1,442	1,055	1,236	795	663	725	-	-	-	-	-	-	-	-	-	-
Marketing and advertising expense
2,739	3,675	2,600	2,908	2,383	2,210	3,109	3,288	1,436	1,854	1,931	2,270	1,740	1,919	1,975	1,924	1,938	1,375	1,781	2,372	1,687	1,585	2,064	1,692	1,065	1,135	1,017	1,108	1,052	-	-	-	-	-	-	-	-	-	-
FDIC assessment premiums and other insurance
2,861	1,253	381	2,601	2,639	1,214	1,363	1,882	2,185	1,254	1,141	947	706	1,403	1,262	1,379	1,362	1,347	1,351	1,280	1,398	1,562	1,577	1,593	1,393	805	759	756	790	-	-	-	-	-	-	-	-	-	-
Other taxes
4,120	3,970	3,971	4,044	3,764	2,883	2,878	2,895	2,886	2,021	2,022	2,022	2,022	1,584	639	1,607	1,618	1,553	1,569	1,554	1,551	1,432	1,460	1,507	1,385	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan-related expenses
2,697	2,792	2,566	2,396	2,289	2,109	1,939	1,843	1,315	1,083	1,193	1,128	1,329	530	1,531	1,229	878	1,385	1,341	687	684	1,483	814	630	542	-	-	-	-	-	-	-	-	-	-	-	-	-	-
OREO and credit-related expenses
688	1,546	1,005	1,473	684	1,025	452	1,122	1,532	1,742	1,139	342	541	634	503	894	569	4,497	1,263	1,965	1,186	-90	6,559	2,244	1,451	1,721	1,601	984	574	-	-	-	-	-	-	-	-	-	-
Amortization of intangible assets
4,401	4,602	4,764	4,937	4,218	2,953	3,490	3,215	3,181	1,427	1,480	1,544	1,637	1,742	1,843	1,745	1,880	2,011	2,074	2,138	2,222	2,333	2,391	2,455	2,616	920	921	921	1,069	-	-	-	-	-	-	-	-	-	-
Training and other personnel costs
1,571	2,137	1,618	1,477	1,144	1,104	1,024	1,125	1,006	995	861	1,018	969	847	863	905	744	844	1,198	912	721	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger-related costs
0	896	2,435	6,371	18,122	2,314	1,429	8,273	27,712	1,917	732	2,744	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rebranding expense
0	903	1,133	4,012	407	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt extinguishment
-	-	-16,397	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition and conversion costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,695	4,661	13,168	-	473	919	-	-	-	-	-	-	-	-	-	-	-
Other expenses
4,811	5,163	3,114	3,145	2,400	5,577	2,081	2,174	1,476	4,610	1,355	1,420	1,159	1,574	2,421	1,282	1,592	1,233	1,075	3,174	1,801	-494	2,004	2,075	1,953	-6,486	3,954	3,819	4,185	-27,601	11,081	11,712	10,882	11,497	11,787	13,945	12,697	11,895	13,093
Total noninterest expenses
95,645	94,317	111,687	105,608	106,728	74,535	76,349	85,140	101,743	55,494	55,204	57,575	57,395	46,654	56,913	55,251	54,272	54,476	53,325	55,241	53,840	52,551	59,413	58,967	67,285	35,131	34,132	34,283	33,501	34,336	33,268	33,607	32,268	25,672	34,504	35,872	34,767	33,984	35,148
Income from continuing operations before income taxes
8,074	67,106	63,920	58,264	41,965	53,318	46,161	61,478	18,472	27,053	27,817	24,207	25,889	26,262	26,593	26,218	22,769	23,135	24,782	21,038	21,433	20,916	19,584	19,528	10,261	10,653	11,142	13,419	12,037	13,359	13,596	11,733	11,056	11,462	12,753	9,214	8,280	11,106	12,565
Income tax expense
985	11,228	10,724	9,356	6,249	9,042	7,399	11,678	1,897	11,903	7,397	6,725	6,765	7,063	6,192	6,881	5,808	5,321	6,566	5,690	5,732	5,950	4,767	4,855	2,553	2,679	3,196	3,956	3,054	3,917	3,970	3,313	3,133	3,102	3,682	2,394	2,086	3,033	3,839
Income from continuing operations
7,089	55,878	53,196	48,908	35,716	44,276	38,762	49,800	16,575	-	20,420	17,482	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from operations of discontinued mortgage segment
0	-	56	-114	-115	-	-761	-3,085	76	-	371	745	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax expense (benefit)
0	-15	14	-29	-30	-319	-196	-612	12	-	133	271	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) on discontinued operations
0	-	-	-	-85	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) on discontinued operations
-	-	42	-85	-	-191	-565	-2,473	64	-	238	474	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
7,089	55,836	53,238	48,823	35,631	44,085	38,197	47,327	16,639	15,185	20,658	17,956	19,124	20,777	20,401	19,337	16,961	17,814	18,216	15,348	15,701	14,966	14,817	14,673	7,708	7,974	7,946	9,463	8,983	9,442	9,626	8,420	7,923	8,360	9,071	6,820	6,194	8,073	8,726
Dividends paid and accumulated on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	113	462	462	462	462	462
Accretion of discount on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	982	66	65	64	62	50
Net income available to common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,265	8,543	6,293	5,668	7,549	8,214
Basic earnings per common share (in dollars per share)
0.09	0.70	0.65	0.59	0.47	0.67	0.58	0.72	0.25	0.35	0.47	0.41	0.44	0.48	0.47	0.44	0.38	0.40	0.40	0.34	0.35	0.33	0.32	0.32	0.16	0.32	0.32	0.38	0.36	0.37	0.37	0.32	0.31	0.28	0.33	0.24	0.22	0.29	0.32
Diluted earnings per common share (in dollars per share)
0.09	0.70	0.65	0.59	0.47	0.67	0.58	0.72	0.25	0.35	0.47	0.41	0.44	0.48	0.47	0.44	0.38	0.40	0.40	0.34	0.35	0.33	0.32	0.32	0.16	0.31	0.32	0.38	0.36	0.37	0.37	0.32	0.31	0.28	0.33	0.24	0.22	0.29	0.32
Dividends declared per common share (in dollars per share)
0.25	0.25	0.25	0.23	0.23	0.23	0.23	0.21	0.21	0.21	0.20	0.20	0.20	0.20	0.19	0.19	0.19	0.19	0.17	0.17	0.15	0.15	0.15	0.14	0.14	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average number of shares outstanding:
Basic weighted average number of common shares outstanding (in shares)
79,290	80,500	81,769	82,062	76,472	65,987	65,975	65,919	65,555	43,741	43,707	43,693	43,654	43,572	43,565	43,746	44,251	44,897	45,087	45,128	45,105	45,322	45,649	46,194	46,977	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted weighted average number of common shares outstanding (in shares)
79,317	80,565	81,833	82,125	76,533	66,021	66,013	65,966	65,636	43,818	43,792	43,783	43,725	43,653	43,754	43,824	44,327	44,986	45,171	45,209	45,187	45,407	45,738	46,296	47,080	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Service charges on deposit accounts
Noninterest income
7,578	7,870	7,675	7,499	7,158	6,873	6,483	6,189	5,894	4,926	4,795	4,613	4,516	3,715	4,965	4,754	4,734	5,103	4,965	4,622	4,214	4,440	4,458	4,525	4,298	2,400	2,474	2,346	2,272	2,390	2,222	2,291	2,130	2,258	2,294	2,216	2,058	2,243	2,381
Other service charges, commissions and fees
Noninterest income
1,624	1,544	1,513	1,702	1,664	1,467	1,625	1,278	1,233	1,203	1,131	1,120	1,139	-8,526	4,397	4,418	4,156	3,957	3,983	4,051	3,584	3,702	3,773	4,164	3,344	-607	3,185	3,222	2,807	-224	2,768	2,774	2,572	207	3,254	3,351	2,924	2,860	3,136
Interchange fees
Noninterest income
1,625	1,854	2,108	5,612	5,045	4,640	4,882	4,792	4,489	3,769	3,756	3,867	3,582	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fiduciary and asset management fees
Noninterest income
5,984	6,531	6,082	5,698	5,054	4,643	4,411	4,040	3,056	2,932	2,794	2,725	2,794	2,884	2,844	2,333	2,138	2,306	2,304	2,312	2,219	2,283	2,120	2,330	2,303	-	-	-	-	-	-	-	-	-	-	-	-	-	-