GLEN ALLEN, Va. (AP) — GLEN ALLEN, Va. (AP) — Atlantic Union Bankshares Corporation (AUB) on Thursday reported fourth-quarter earnings of $112 million.
The bank, based in Glen Allen, Virginia, said it had earnings of 77 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 97 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The holding company for Atlantic Union Bank posted revenue of $558.8 million in the period. Its revenue net of interest expense was $391.8 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $380.7 million.
For the year, the company reported profit of $273.7 million, or $2.03 per share. Revenue was reported as $1.39 billion.
Atlantic Union shares have climbed 13% since the beginning of the year. The stock has risen 4.5% 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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