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PARENT COMPANY FINANCIAL INFORMATION 10K | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
PARENT COMPANY FINANCIAL INFORMATION | 20. 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, 2024, the aggregate amount of unrestricted funds that could be transferred from the Bank to the Parent Company without prior regulatory approval totaled approximately $535.8 million or 17.0% of the consolidated net assets. Financial information for the Parent Company is as follows: PARENT COMPANY CONDENSED BALANCE SHEETS AS OF DECEMBER 31, 2024 and 2023 (Dollars in thousands) ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
ASSETS |  | ​ |  |  | ​ |
Cash | ​ | $ | 15,221 | ​ | $ | 32,336
Investments | ​ | ​ | 1,681 | ​ | ​ | —
Other assets | ​ |  | 24,028 | ​ |  | 30,344
Investment in subsidiaries | ​ |  | 3,565,243 | ​ |  | 2,927,459
Total assets | ​ | $ | 3,606,173 | ​ | $ | 2,990,139
LIABILITIES AND STOCKHOLDERS' EQUITY | ​ |  |  | ​ |  |
Long-term borrowings | ​ | $ | 247,826 | ​ | $ | 247,516
Trust preferred capital notes | ​ |  | 170,476 | ​ |  | 143,509
Other liabilities | ​ |  | 44,992 | ​ |  | 42,787
Total liabilities | ​ |  | 463,294 | ​ |  | 433,812
Total stockholders' equity | ​ |  | 3,142,879 | ​ |  | 2,556,327
Total liabilities and stockholders' equity | ​ | $ | 3,606,173 | ​ | $ | 2,990,139
​ ​ PARENT COMPANY CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) YEARS ENDED DECEMBER 31, 2024, 2023, and 2022 (Dollars in thousands) ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Income: |  | ​ |  |  | ​ |  |  | ​ |
Interest and dividend income | ​ | $ | 99 | ​ | $ | — | ​ | $ | —
Dividends received from subsidiaries | ​ | ​ | 132,750 | ​ | ​ | 122,000 | ​ | ​ | 102,215
Other operating loss | ​ |  | (97) | ​ |  | (1,136) | ​ |  | (286)
Total income | ​ |  | 132,752 | ​ |  | 120,864 | ​ |  | 101,929
Expenses: | ​ |  |  | ​ |  |  | ​ |  |
Interest expense | ​ |  | 21,791 | ​ |  | 19,511 | ​ |  | 14,477
Other operating expenses | ​ |  | 19,550 | ​ |  | 12,479 | ​ |  | 9,819
Total expenses | ​ |  | 41,341 | ​ |  | 31,990 | ​ |  | 24,296
Income before income taxes and equity in undistributed net income from subsidiaries | ​ |  | 91,411 | ​ |  | 88,874 | ​ |  | 77,633
Income tax benefit | ​ |  | (547) | ​ |  | (9,210) | ​ |  | (10,892)
Equity in undistributed net income from subsidiaries | ​ |  | 117,173 | ​ |  | 103,734 | ​ |  | 145,985
Net income | ​ | $ | 209,131 | ​ | $ | 201,818 | ​ | $ | 234,510
Comprehensive income (loss) | ​ | $ | 192,794 | ​ | $ | 276,755 | ​ | $ | (202,411)
​ ​ PARENT COMPANY CONDENSED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2024, 2023, and 2022 (Dollars in thousands) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
Operating activities: |  | ​ |  |  | ​ |  |  | ​ |
Net income | ​ | $ | 209,131 | ​ | $ | 201,818 | ​ | $ | 234,510
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ​ |  |  | ​ |  |  | ​ |  |
Equity in undistributed net income of subsidiaries | ​ |  | (117,173) | ​ |  | (103,734) | ​ |  | (145,985)
Non-cash dividend | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (27,215)
Acquisition accounting amortization, net | ​ |  | 1,078 | ​ |  | 851 | ​ |  | 829
Stock-based compensation expense | ​ | ​ | 13,796 | ​ | ​ | 11,101 | ​ | ​ | 10,609
Deferred tax asset write-down | ​ | ​ | 4,419 | ​ | ​ | — | ​ | ​ | —
Issuance of common stock for services | ​ |  | 970 | ​ |  | 735 | ​ |  | 819
Net decrease (increase) in other assets | ​ |  | 1,536 | ​ |  | 3,256 | ​ |  | (9,663)
Net increase in other liabilities | ​ |  | 1,040 | ​ |  | 13,201 | ​ |  | 761
Net cash provided by operating activities | ​ |  | 114,797 | ​ |  | 127,228 | ​ |  | 64,665
Investing activities: | ​ |  |  | ​ |  |  | ​ |  |
Proceeds from sale of former bank premises | ​ |  | — | ​ |  | — | ​ |  | 2,524
Increase in equity method investments | ​ | ​ | (4,516) | ​ | ​ | (7,363) | ​ | ​ | (8,830)
Net cash received in acquisitions | ​ | ​ | 212 | ​ | ​ | — | ​ | ​ | —
Net cash used in investing activities | ​ |  | (4,304) | ​ |  | (7,363) | ​ |  | (6,306)
Financing activities: | ​ |  |  | ​ |  |  | ​ |  |
Cash dividends paid | ​ | ​ | (123,875) | ​ | ​ | (103,285) | ​ | ​ | (98,767)
Repurchase of common stock | ​ |  | — | ​ |  | — | ​ |  | (48,231)
Issuance of common stock | ​ | ​ | 228 | ​ | ​ | 778 | ​ | ​ | 3,875
Vesting of restricted stock, net of shares held for taxes | ​ |  | (3,961) | ​ |  | (2,494) | ​ |  | (3,228)
Net cash used in financing activities | ​ |  | (127,608) | ​ |  | (105,001) | ​ |  | (146,351)
Increase (decrease) in cash and cash equivalents | ​ |  | (17,115) | ​ |  | 14,864 | ​ |  | (87,992)
Cash, cash equivalents and restricted cash at beginning of the period | ​ |  | 32,336 | ​ |  | 17,472 | ​ |  | 105,464
Cash, cash equivalents and restricted cash at end of the period | ​ | $ | 15,221 | ​ | $ | 32,336 | ​ | $ | 17,472
Supplemental schedule of noncash investing and financing activities | ​ |  |  | ​ |  |  | ​ |  |
Issuance of common stock in exchange for net assets in acquisition | ​ | $ | 505,402 | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Transactions related to bank acquisition | ​ |  |  | ​ |  |  | ​ |  |
Assets acquired | ​ |  | 521,218 | ​ |  | — | ​ |  | —
Liabilities assumed | ​ |  | 30,398 | ​ |  | — | ​ |  | —
​

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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/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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