RICHMOND, Va., April 28, 2020 (GLOBE NEWSWIRE) — Atlantic Union Bankshares Corporation (the “Company” or “Atlantic Union”) (Nasdaq: AUB) today reported net income of $7.1 million and diluted earnings per share of $0.09 for its first quarter ended March 31, 2020. Pre-tax pre-provision earnings(1) were $68.3 million, or $0.86 per share(1), in the first quarter ended March 31, 2020.
“Atlantic Union began 2020 with momentum and an ambitious set of work ahead of us, but as the situation surrounding the COVID-19 coronavirus pandemic unfolded, we quickly adjusted our thinking,” said John C. Asbury, President and CEO of Atlantic Union. “We believe that we pivoted smoothly to a new operating model with over 90% of non-branch personnel working remotely, demonstrating we’ve built a resilient organization that can react and innovate rapidly to changing economic conditions. We are laser focused on taking care of our teammates, our clients, and our communities during this uncertain time.
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