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RICHMOND - Atlantic Union Bankshares Corporation (NYSE: AUB), a bank holding company based in Virginia, has announced the appointment of Bradley S. Haun as its new chief risk officer for both the corporation and its primary banking subsidiary, Atlantic Union Bank. Haun will be succeeding Sherry Williams, who is set to retire on July 1, 2025. The announcement comes as the company, currently valued at $2.3 billion, maintains strong financial health with a P/E ratio of 13.6x and revenue growth of 16.6% in the last twelve months.
Bradley Haun’s ascension to the role of chief risk officer comes after a decade-long tenure at Atlantic Union, where he has held various leadership positions, including executive vice president and chief audit executive. Haun, a Virginia Tech graduate, embarked on his professional journey at Cherry Bekaert in their audit practice before joining Atlantic Union. His career trajectory within the company has seen him serve as director of financial reporting and accounting policy, then corporate controller, before taking on the role of chief audit executive in 2021. According to InvestingPro data, the bank has demonstrated strong dividend commitment, raising payouts for 14 consecutive years while maintaining a current yield of 4.35%.
The company’s CEO, John Asbury, expressed gratitude to the outgoing chief risk officer, Sherry Williams, for her pivotal role in developing the enterprise risk program, which has been crucial in meeting regulatory expectations amid the company’s expansion. Asbury praised Haun’s track record of leadership and his ability to build highly engaged teams, indicating confidence in Haun’s capabilities to steer the bank’s risk management functions.
Atlantic Union Bankshares Corporation, headquartered in Richmond, Virginia, operates Atlantic Union Bank, which has a network of branches and ATMs across Virginia and parts of Maryland and North Carolina. The corporation also has non-bank financial services affiliates, including Atlantic Union Equipment Finance, Inc., Atlantic Union Financial Consultants, LLC, and Union Insurance Group, LLC, offering equipment financing, brokerage services, and insurance products, respectively.
This leadership transition is based on a press release statement from Atlantic Union Bankshares Corporation.
In other recent news, Atlantic Union Bancshares reported its first-quarter 2025 earnings, which missed analysts’ expectations. The company posted an earnings per share (EPS) of $0.57, falling short of the anticipated $0.72. Revenue was also below expectations, coming in at $217.19 million compared to the forecast of $221.4 million. Despite these challenges, Atlantic Union successfully completed the acquisition of Sandy Spring Bancorp, expanding its geographic footprint across Maryland, Virginia, and North Carolina.
Raymond James maintained its Outperform rating for Atlantic Union Bancshares with a $37 price target, despite the mixed results. The firm expressed confidence in the bank’s conservative underwriting practices and effective loan portfolio management. Analysts noted the current market discount on Atlantic Union’s shares might be due to investor concerns about the bank’s net interest margin and earnings quality.
The acquisition of Sandy Spring Bancorp is seen as strategically important, with the integration process reportedly on track. Atlantic Union’s net interest margin expanded by 12 basis points, and the cost of funds reduced by 18 basis points. Looking forward, the company expects a full-year loan balance projection of $28-29 billion and a deposit balance projection of $31-32 billion.
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