Atlantic Union Bankshares Corp Announces Sale of Interest in Bearing Insurance Group, LLC

Key Points:

• Atlantic Union Bankshares Corporation (“the Company”) has announced completion of the sale (“Transaction”) of its interest in Bearing Insurance Group, LLC.
• The interest was held through the Company’s indirect subsidiary, Union Insurance Group, LLC.
• The buyer is an unaffiliated third party; the deal became effective on May 1, 2026.
• The Company estimates it will recognize a pre-tax gain of approximately \$32.3 million from this Transaction.
• This gain will be reflected in Atlantic Union Bankshares’ financial results for the second quarter of 2026.

Details for Investors:

• Transaction Overview: The sale of the Company’s interest in Bearing Insurance Group, LLC marks a significant strategic move, potentially streamlining operations and enabling Atlantic Union Bankshares to focus on its core banking business.
• Financial Impact: The estimated pre-tax gain of \$32.3 million is substantial and will positively affect the Company’s Q2 2026 earnings. This could improve key metrics such as earnings per share and return on equity for the reporting period.
• Price Sensitivity: The announcement of a sizable gain is likely to be price-sensitive and may influence share values upon release. Investors should monitor how this gain impacts the Company’s future financial disclosures and market performance.
• Forward-Looking Statements: The Company notes that its estimate is based solely on information available as of the announcement date. The actual financial impact could differ—potentially due to post-closing purchase price adjustments or other factors beyond the Company’s control.
• Risk Factors: Investors are advised that forward-looking statements involve risks and uncertainties. These include changes in business, economic, tax conditions, and other post-transaction adjustments.

Other Shareholder Considerations:

• No written communications, soliciting material, or pre-commencement tender offers are associated with this Form 8-K filing, as confirmed by the Company.
• Atlantic Union Bankshares Corp is not classified as an emerging growth company.
• The Company’s common stock (par value \$1.33 per share) trades under the symbol AUB on the New York Stock Exchange. Depositary shares representing Series A Preferred Stock trade as AUB.PRA on NYSE.

Potential Share Price Impact:

• The realization of a \$32.3 million pre-tax gain, especially if it exceeds market expectations, could materially affect Atlantic Union Bankshares’ share price.
• Shareholders should be aware that this gain is a one-time event and its ongoing impact on the Company’s future earnings will depend on capital allocation and strategic decisions following the sale.
• Any subsequent disclosures or adjustments related to the Transaction may also affect share values.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Forward-looking statements are subject to risks and uncertainties, and actual results may differ from estimates. Investors should review the Company’s filings and consult their advisers before making investment decisions.

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