GLEN ALLEN, Va. (AP) — GLEN ALLEN, Va. (AP) — Atlantic Union Bankshares Corporation (AUB) on Thursday reported second-quarter profit of $19.8 million.
The bank, based in Glen Allen, Virginia, said it had earnings of 12 cents per share. Earnings, adjusted for non-recurring costs, were 95 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The holding company for Atlantic Union Bank posted revenue of $591.9 million in the period. Its revenue net of interest expense was $407.3 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $371 million.
Atlantic Union shares have fallen 13% since the beginning of the year. The stock has declined 18% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AUB at https://www.zacks.com/ap/AUB
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