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PARENT COMPANY FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
PARENT COMPANY FINANCIAL INFORMATION | 19. 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, 2022, the aggregate amount of unrestricted funds that could be transferred from the Bank to the Parent Company without prior regulatory approval totaled approximately $485.7 million, or 20.5%, of the consolidated net assets. Financial information for the Parent Company is as follows: PARENT COMPANY CONDENSED BALANCE SHEETS AS OF DECEMBER 31, 2022 and 2021 (Dollars in thousands) ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
ASSETS |  | ​ |  |  | ​ |
Cash | ​ | $ | 17,472 | ​ | $ | 105,464
Other assets | ​ |  | 41,942 | ​ |  | 34,376
Investment in subsidiaries | ​ |  | 2,748,863 | ​ |  | 2,988,277
Total assets | ​ | $ | 2,808,277 | ​ | $ | 3,128,117
LIABILITIES AND STOCKHOLDERS' EQUITY | ​ |  |  | ​ |  |
Long-term borrowings | ​ | $ | 247,205 | ​ | $ | 246,895
Trust preferred capital notes | ​ |  | 142,658 | ​ |  | 141,829
Other liabilities | ​ |  | 45,677 | ​ |  | 29,322
Total liabilities | ​ |  | 435,540 | ​ |  | 418,046
Total stockholders' equity | ​ |  | 2,372,737 | ​ |  | 2,710,071
Total liabilities and stockholders' equity | ​ | $ | 2,808,277 | ​ | $ | 3,128,117
​ ​ PARENT COMPANY CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE (LOSS) INCOME YEARS ENDED DECEMBER 31, 2022, 2021, and 2020 (Dollars in thousands) ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | ​ | 2020
Income: |  | ​ |  |  | ​ |  |  | ​ |
Dividends received from subsidiaries | ​ | $ | 102,215 | ​ | $ | 119,500 | ​ | $ | 97,880
Other operating income | ​ |  | (286) | ​ |  | 3,770 | ​ |  | 1,338
Total income | ​ |  | 101,929 | ​ |  | 123,270 | ​ |  | 99,218
Expenses: | ​ |  |  | ​ |  |  | ​ |  |
Interest expense | ​ |  | 14,477 | ​ |  | 13,210 | ​ |  | 13,506
Other operating expenses | ​ |  | 9,819 | ​ |  | 17,471 | ​ |  | 8,249
Total expenses | ​ |  | 24,296 | ​ |  | 30,681 | ​ |  | 21,755
Income before income taxes and equity in undistributed net income from subsidiaries | ​ |  | 77,633 | ​ |  | 92,589 | ​ |  | 77,463
Income tax benefit | ​ |  | (10,892) | ​ |  | (12,626) | ​ |  | (5,439)
Equity in undistributed net income from subsidiaries | ​ |  | 145,985 | ​ |  | 158,702 | ​ |  | 75,326
Net income | ​ | $ | 234,510 | ​ | $ | 263,917 | ​ | $ | 158,228
Comprehensive (loss) income | ​ | $ | (202,411) | ​ | $ | 211,537 | ​ | $ | 193,668
​ ​ PARENT COMPANY CONDENSED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2022, 2021, and 2020 (Dollars in thousands) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Operating activities: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 234,510 | ​ | $ | 263,917 | ​ | $ | 158,228
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Equity in undistributed net income of subsidiaries | ​ |  | (145,985) | ​ |  | (158,702) | ​ |  | (75,326)
Non-cash dividend | ​ | ​ | (27,215) | ​ | ​ | — | ​ | ​ | —
Depreciation of premises and equipment | ​ |  | — | ​ |  | 414 | ​ |  | 439
Write-down of corporate facilities | ​ | ​ | — | ​ | ​ | 7,429 | ​ | ​ | —
Acquisition accounting amortization, net | ​ |  | 829 | ​ |  | 806 | ​ |  | 735
Issuance of common stock for services | ​ |  | 819 | ​ |  | 567 | ​ |  | 804
Net increase in other assets | ​ |  | (9,663) | ​ |  | (10,726) | ​ |  | (3,005)
Net increase in other liabilities | ​ |  | 11,370 | ​ |  | 12,944 | ​ |  | 10,038
Net cash provided by operating activities | ​ |  | 64,665 | ​ |  | 116,649 | ​ |  | 91,913
Investing activities: | ​ |  |  | ​ |  |  | ​ |  |
Net increase in premises and equipment | ​ |  | — | ​ |  | — | ​ |  | (306)
Proceeds from sale of former bank premises | ​ |  | 2,524 | ​ |  | — | ​ |  | —
Increase in equity method investments | ​ | ​ | (8,830) | ​ | ​ | (4,188) | ​ | ​ | (2,353)
Net cash used in investing activities | ​ |  | (6,306) | ​ |  | (4,188) | ​ |  | (2,659)
Financing activities: | ​ |  |  | ​ |  |  | ​ |  |
Repayments of long-term borrowings | ​ |  | — | ​ |  | (150,000) | ​ |  | (8,500)
Net proceeds from issuance of long-term borrowings | ​ |  | — | ​ |  | 246,869 | ​ |  | —
Cash dividends paid - common stock | ​ |  | (86,899) | ​ |  | (84,307) | ​ |  | (78,860)
Cash dividends paid - preferred stock | ​ | ​ | (11,868) | ​ | ​ | (11,868) | ​ | ​ | (5,658)
Repurchase of common stock | ​ |  | (48,231) | ​ |  | (125,000) | ​ |  | (49,879)
Issuance of common stock | ​ | ​ | 3,875 | ​ | ​ | 3,141 | ​ | ​ | 1,013
Issuance of preferred stock, net | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 166,356
Vesting of restricted stock, net of shares held for taxes | ​ |  | (3,228) | ​ |  | (2,580) | ​ |  | (2,261)
Net cash (used in) provided by financing activities | ​ |  | (146,351) | ​ |  | (123,745) | ​ |  | 22,211
(Decrease) increase in cash and cash equivalents | ​ |  | (87,992) | ​ |  | (11,284) | ​ |  | 111,465
Cash, cash equivalents and restricted cash at beginning of the period | ​ |  | 105,464 | ​ |  | 116,748 | ​ |  | 5,283
Cash, cash equivalents and restricted cash at end of the period | ​ | $ | 17,472 | ​ | $ | 105,464 | ​ | $ | 116,748
​

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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 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: 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(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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