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PARENT COMPANY FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2023
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, 2023, the aggregate amount of unrestricted funds that could be transferred from the Bank to the Parent Company without prior regulatory approval totaled approximately $533.8 million or 20.9% of the consolidated net assets. Financial information for the Parent Company is as follows: PARENT COMPANY CONDENSED BALANCE SHEETS AS OF DECEMBER 31, 2023 and 2022 (Dollars in thousands) ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
ASSETS |  | ​ |  |  | ​ |
Cash | ​ | $ | 32,336 | ​ | $ | 17,472
Other assets | ​ |  | 30,344 | ​ |  | 41,942
Investment in subsidiaries | ​ |  | 2,927,459 | ​ |  | 2,748,863
Total assets | ​ | $ | 2,990,139 | ​ | $ | 2,808,277
LIABILITIES AND STOCKHOLDERS' EQUITY | ​ |  |  | ​ |  |
Long-term borrowings | ​ | $ | 247,516 | ​ | $ | 247,205
Trust preferred capital notes | ​ |  | 143,509 | ​ |  | 142,658
Other liabilities | ​ |  | 42,787 | ​ |  | 45,677
Total liabilities | ​ |  | 433,812 | ​ |  | 435,540
Total stockholders' equity | ​ |  | 2,556,327 | ​ |  | 2,372,737
Total liabilities and stockholders' equity | ​ | $ | 2,990,139 | ​ | $ | 2,808,277
​ ​ PARENT COMPANY CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) YEARS ENDED DECEMBER 31, 2023, 2022, and 2021 (Dollars in thousands) ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Income: |  | ​ |  |  | ​ |  |  | ​ |
Dividends received from subsidiaries | ​ | $ | 122,000 | ​ | $ | 102,215 | ​ | $ | 119,500
Other operating income | ​ |  | (1,136) | ​ |  | (286) | ​ |  | 3,770
Total income | ​ |  | 120,864 | ​ |  | 101,929 | ​ |  | 123,270
Expenses: | ​ |  |  | ​ |  |  | ​ |  |
Interest expense | ​ |  | 19,511 | ​ |  | 14,477 | ​ |  | 13,210
Other operating expenses | ​ |  | 12,479 | ​ |  | 9,819 | ​ |  | 17,471
Total expenses | ​ |  | 31,990 | ​ |  | 24,296 | ​ |  | 30,681
Income before income taxes and equity in undistributed net income from subsidiaries | ​ |  | 88,874 | ​ |  | 77,633 | ​ |  | 92,589
Income tax benefit | ​ |  | (9,210) | ​ |  | (10,892) | ​ |  | (12,626)
Equity in undistributed net income from subsidiaries | ​ |  | 103,734 | ​ |  | 145,985 | ​ |  | 158,702
Net income | ​ | $ | 201,818 | ​ | $ | 234,510 | ​ | $ | 263,917
Comprehensive income (loss) | ​ | $ | 276,755 | ​ | $ | (202,411) | ​ | $ | 211,537
​ ​ PARENT COMPANY CONDENSED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2023, 2022, and 2021 (Dollars in thousands) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Operating activities: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 201,818 | ​ | $ | 234,510 | ​ | $ | 263,917
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Equity in undistributed net income of subsidiaries | ​ |  | (103,734) | ​ |  | (145,985) | ​ |  | (158,702)
Non-cash dividend | ​ | ​ | — | ​ | ​ | (27,215) | ​ | ​ | —
Depreciation of premises and equipment | ​ |  | — | ​ |  | — | ​ |  | 414
Write-down of corporate facilities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 7,429
Acquisition accounting amortization, net | ​ |  | 851 | ​ |  | 829 | ​ |  | 806
Issuance of common stock for services | ​ |  | 735 | ​ |  | 819 | ​ |  | 567
Net decrease (increase) in other assets | ​ |  | 3,256 | ​ |  | (9,663) | ​ |  | (10,726)
Net increase in other liabilities | ​ |  | 24,302 | ​ |  | 11,370 | ​ |  | 12,944
Net cash provided by operating activities | ​ |  | 127,228 | ​ |  | 64,665 | ​ |  | 116,649
Investing activities: | ​ |  |  | ​ |  |  | ​ |  |
Proceeds from sale of former bank premises | ​ |  | — | ​ |  | 2,524 | ​ |  | —
Increase in equity method investments | ​ | ​ | (7,363) | ​ | ​ | (8,830) | ​ | ​ | (4,188)
Net cash used in investing activities | ​ |  | (7,363) | ​ |  | (6,306) | ​ |  | (4,188)
Financing activities: | ​ |  |  | ​ |  |  | ​ |  |
Repayments of long-term borrowings | ​ |  | — | ​ |  | — | ​ |  | (150,000)
Net proceeds from issuance of long-term borrowings | ​ |  | — | ​ |  | — | ​ |  | 246,869
Cash dividends paid - common stock | ​ |  | (91,417) | ​ |  | (86,899) | ​ |  | (84,307)
Cash dividends paid - preferred stock | ​ | ​ | (11,868) | ​ | ​ | (11,868) | ​ | ​ | (11,868)
Repurchase of common stock | ​ |  | — | ​ |  | (48,231) | ​ |  | (125,000)
Issuance of common stock | ​ | ​ | 778 | ​ | ​ | 3,875 | ​ | ​ | 3,141
Vesting of restricted stock, net of shares held for taxes | ​ |  | (2,494) | ​ |  | (3,228) | ​ |  | (2,580)
Net cash used in financing activities | ​ |  | (105,001) | ​ |  | (146,351) | ​ |  | (123,745)
Increase (decrease) in cash and cash equivalents | ​ |  | 14,864 | ​ |  | (87,992) | ​ |  | (11,284)
Cash, cash equivalents and restricted cash at beginning of the period | ​ |  | 17,472 | ​ |  | 105,464 | ​ |  | 116,748
Cash, cash equivalents and restricted cash at end of the period | ​ | $ | 32,336 | ​ | $ | 17,472 | ​ | $ | 105,464
​

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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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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