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PARENT COMPANY FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
PARENT COMPANY FINANCIAL INFORMATION | 21. PARENT COMPANY FINANCIAL INFORMATION The primary source of funds for the dividends paid by Atlantic Union Bankshares Corporation (for this note only, the “Parent Company”) is dividends received from its subsidiaries. The payments of dividends by the Bank to the Parent Company are subject to certain statutory limitations which contemplate that the current year earnings and earnings retained for the two preceding years may be paid to the Parent Company without regulatory approval. As of December 31, 2019, the aggregate amount of unrestricted funds that could be transferred from the Bank to the Parent Company without prior regulatory approval totaled approximately $383.7 million, or 15.27%, of the consolidated net assets. Financial information for the Parent Company is as follows: PARENT COMPANY CONDENSED BALANCE SHEETS AS OF DECEMBER 31, 2019 and 2018 (Dollars in thousands) ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018
ASSETS |  | ​ |  |  | ​ |
Cash | ​ | $ | 5,283 | ​ | $ | 3,681
Premises and equipment, net | ​ |  | 10,568 | ​ |  | 10,637
Other assets | ​ |  | 27,438 | ​ |  | 13,386
Investment in subsidiaries | ​ |  | 2,786,842 | ​ |  | 2,202,530
Total assets | ​ | $ | 2,830,131 | ​ | $ | 2,230,234
LIABILITIES AND STOCKHOLDERS' EQUITY | ​ |  |  | ​ |  |
Short-term borrowings | ​ |  | — | ​ |  | 5,000
Long-term borrowings | ​ |  | 157,155 | ​ |  | 157,057
Trust preferred capital notes | ​ |  | 140,237 | ​ |  | 134,342
Other liabilities | ​ |  | 19,637 | ​ |  | 9,254
Total liabilities | ​ |  | 317,029 | ​ |  | 305,653
Total stockholders' equity | ​ |  | 2,513,102 | ​ |  | 1,924,581
Total liabilities and stockholders' equity | ​ | $ | 2,830,131 | ​ | $ | 2,230,234
​ ​ PARENT COMPANY CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2019, 2018, and 2017 (Dollars in thousands) ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |  | ​ | 2017
Income: |  | ​ |  |  | ​ |  |  | ​ |
Interest and dividend income | ​ | $ | 3 | ​ | $ | — | ​ | $ | 3
Dividends received from subsidiaries | ​ |  | 160,033 | ​ |  | 50,750 | ​ |  | 33,350
Other operating income | ​ |  | 1,484 | ​ |  | 2,719 | ​ |  | 1,308
Total income | ​ |  | 161,520 | ​ |  | 53,469 | ​ |  | 34,661
Expenses: | ​ |  |  | ​ |  |  | ​ |  |
Interest expense | ​ |  | 15,935 | ​ |  | 15,253 | ​ |  | 11,423
Other operating expenses | ​ |  | 11,434 | ​ |  | 13,782 | ​ |  | 7,130
Total expenses | ​ |  | 27,369 | ​ |  | 29,035 | ​ |  | 18,553
Income before income taxes and equity in undistributed net income from subsidiaries | ​ |  | 134,151 | ​ |  | 24,434 | ​ |  | 16,108
Income tax benefit | ​ |  | (6,499) | ​ |  | (6,176) | ​ |  | (9,169)
Equity in undistributed net income from subsidiaries | ​ |  | 52,878 | ​ |  | 115,638 | ​ |  | 47,646
Net income | ​ | $ | 193,528 | ​ | $ | 146,248 | ​ | $ | 72,923
Comprehensive income | ​ | $ | 239,376 | ​ | $ | 136,905 | ​ | $ | 75,848
​ ​ PARENT COMPANY CONDENSED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2019, 2018, and 2017 (Dollars in thousands) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |  | 2017
Operating activities: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 193,528 | ​ | $ | 146,248 | ​ | $ | 72,923
Adjustments to reconcile net income to net cash provided by operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Equity in undistributed net income of subsidiaries | ​ |  | (52,878) | ​ |  | (115,638) | ​ |  | (47,646)
Depreciation of premises and equipment | ​ |  | 424 | ​ |  | 424 | ​ |  | 439
Acquisition accounting amortization, net | ​ |  | 662 | ​ |  | 636 | ​ |  | 260
Gain on sale of investment | ​ |  | — | ​ |  | (1,416) | ​ |  | —
Issuance of common stock for services | ​ |  | 910 | ​ |  | 914 | ​ |  | 724
Net (increase) decrease in other assets | ​ |  | (3,256) | ​ |  | (584) | ​ |  | (4,167)
Net increase in other liabilities | ​ |  | 4,964 | ​ |  | (4,159) | ​ |  | 5,283
Net cash and cash equivalents provided by (used in) operating activities | ​ |  | 144,354 | ​ |  | 26,425 | ​ |  | 27,816
Investing activities: | ​ |  |  | ​ |  |  | ​ |  |
Net increase in premises and equipment | ​ |  | (355) | ​ |  | — | ​ |  | (35)
Proceeds from sale of investment | ​ |  | — | ​ |  | 3,761 | ​ |  | —
Proceeds from (payments for) equity method investment | ​ |  | — | ​ |  | — | ​ |  | 72
Cash paid in acquisitions | ​ | ​ | (12) | ​ | ​ | — | ​ | ​ | —
Cash received in acquisitions | ​ |  | 21,553 | ​ |  | 25,976 | ​ |  | —
Net cash and cash equivalents provided by (used in) investing activities | ​ |  | 21,186 | ​ |  | 29,737 | ​ |  | 37
Financing activities: | ​ |  |  | ​ |  |  | ​ |  |
Net increase (decrease) in short-term borrowings | ​ |  | (5,000) | ​ |  | 5,000 | ​ |  | —
Cash dividends paid - common stock | ​ |  | (78,345) | ​ |  | (58,001) | ​ |  | (35,393)
Cancellation of warrants | ​ |  | — | ​ |  | (1,530) | ​ |  | —
Issuance (repurchase) of common stock | ​ |  | (78,292) | ​ |  | 2,347 | ​ |  | 1,037
Vesting of restricted stock, net of shares held for taxes | ​ |  | (2,301) | ​ |  | (2,908) | ​ |  | (1,567)
Net cash and cash equivalents provided by (used in) financing activities | ​ |  | (163,938) | ​ |  | (55,092) | ​ |  | (35,923)
Increase (decrease) in cash and cash equivalents | ​ |  | 1,602 | ​ |  | 1,070 | ​ |  | (8,070)
Cash and cash equivalents at beginning of the period | ​ |  | 3,681 | ​ |  | 2,611 | ​ |  | 10,681
Cash and cash equivalents at end of the period | ​ | $ | 5,283 | ​ | $ | 3,681 | ​ | $ | 2,611
Supplemental schedule of noncash investing and financing activities | ​ |  |  | ​ |  |  | ​ |  |
Issuance of common stock in exchange for net assets in acquisition | ​ | $ | 499,974 | ​ | $ | 794,809 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Transactions related to bank acquisition | ​ |  |  | ​ |  |  | ​ |  |
Assets acquired | ​ |  | 509,075 | ​ |  | 859,176 | ​ |  | —
Liabilities assumed | ​ |  | 9,089 | ​ |  | 64,367 | ​ |  | —
​

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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