Atlantic Union Q1 Earnings Beat, Revenue Miss

Atlantic Union Bankshares posted Q1 adjusted diluted EPS of $0.89, beating the $0.87 consensus, with GAAP earnings of $0.84 per share.
Revenue fell to $371.7 million, missing $381.99 million consensus, a 5.1% decline caused by a $17.8 million net interest income drop after Fed rate cuts.
Net interest margin slipped 10 bps to 3.80%, nonperforming assets fell to 0.36% of loans, and brokered deposits fell $518 million to $610 million.
CEO John C. Asbury highlighted disciplined execution and successful integration of the Sandy Spring Bancorp acquisition as drivers of the solid quarter.