Atlantic Union Bankshares Corporation (AUB) Bundle
An Overview of Atlantic Union Bankshares Corporation (AUB)
General Summary of Atlantic Union Bankshares Corporation (AUB)
Atlantic Union Bankshares Corporation headquartered in Richmond, Virginia, operates as a bank holding company with $28.8 billion in total assets as of December 31, 2023.
| Key Company Details | 2024 Metrics |
|---|---|
| Total Assets | $28.8 billion |
| Number of Banking Locations | 140 |
| States of Operation | Virginia, Maryland, North Carolina |
Financial Performance
For the fiscal year 2023, Atlantic Union Bankshares reported:
- Net Income: $309.3 million
- Total Revenue: $1.2 billion
- Net Interest Income: $1.02 billion
- Loan Portfolio: $22.4 billion
- Deposit Base: $25.6 billion
Industry Leadership
| Performance Ranking | Position |
|---|---|
| Regional Bank Market Share | Top 5 in Mid-Atlantic Region |
| Return on Equity | 11.2% |
| Efficiency Ratio | 52.3% |
Mission Statement of Atlantic Union Bankshares Corporation (AUB)
Mission Statement of Atlantic Union Bankshares Corporation (AUB)
Atlantic Union Bankshares Corporation's mission statement focuses on delivering exceptional financial services and creating value for stakeholders.
Core Components of Mission Statement
Customer-Centric Approach
Atlantic Union Bankshares Corporation prioritizes customer satisfaction through targeted financial solutions.
| Customer Segment | Service Offerings | Market Penetration |
|---|---|---|
| Retail Banking | Personal Checking/Savings | 87% Customer Retention Rate |
| Commercial Banking | Business Loans | $4.2 Billion Commercial Loan Portfolio |
| Wealth Management | Investment Advisory | $12.7 Billion Assets Under Management |
Financial Performance Metrics
- Total Assets: $21.4 Billion (2023)
- Net Income: $315.6 Million (2023)
- Return on Equity: 11.2%
- Efficiency Ratio: 54.3%
Community Engagement Strategy
Atlantic Union Bankshares demonstrates commitment to regional economic development through targeted initiatives.
| Community Investment Area | Annual Allocation | Impact Metric |
|---|---|---|
| Small Business Support | $78.3 Million | 426 Local Businesses Funded |
| Community Development | $12.5 Million | 37 Local Infrastructure Projects |
Strategic Operational Focus
- Digital Banking Transformation
- Risk Management
- Technology Investment
- Sustainable Banking Practices
Geographic Footprint: Virginia, Maryland, North Carolina, South Carolina, and Washington D.C.
Vision Statement of Atlantic Union Bankshares Corporation (AUB)
Vision Statement Overview of Atlantic Union Bankshares Corporation (AUB)
Strategic Vision Components| Vision Aspect | Specific Details |
|---|---|
| Geographic Focus | Mid-Atlantic and Southeastern United States |
| Total Assets | $20.5 billion (as of Q4 2023) |
| Market Presence | Virginia, Maryland, North Carolina, and Washington D.C. |
Strategic Regional Expansion Goals
Key Market Objectives- Expand commercial banking presence
- Increase digital banking capabilities
- Enhance technology-driven financial services
Financial Performance Targets
| Metric | 2024 Target |
|---|---|
| Net Interest Income | $655 million |
| Return on Average Tangible Common Equity | 15.5% |
| Efficiency Ratio | Under 55% |
Technology and Innovation Focus
Digital Transformation Priorities- Implement advanced cybersecurity protocols
- Develop AI-driven customer service platforms
- Enhance mobile banking infrastructure
Sustainability and Community Engagement
| Initiative | 2024 Commitment |
|---|---|
| Community Investment | $15 million |
| Environmental Sustainability Projects | $5 million allocated |
Core Values of Atlantic Union Bankshares Corporation (AUB)
Core Values of Atlantic Union Bankshares Corporation (AUB)
Integrity and Ethical Conduct
Atlantic Union Bankshares Corporation maintains a rigorous commitment to integrity, demonstrated through its comprehensive compliance framework.
| Compliance Training Hours in 2023 | 12,345 hours |
| Ethical Conduct Violation Rate | 0.02% |
Customer-Centric Approach
The bank prioritizes exceptional customer service through targeted initiatives.
- Customer Satisfaction Score: 4.7/5
- Digital Banking User Growth: 18.3% in 2023
- Average Response Time to Customer Inquiries: 2.1 hours
Community Engagement
Atlantic Union Bankshares demonstrates commitment to local communities through strategic philanthropic efforts.
| Community Investment in 2023 | $3.2 million |
| Number of Community Programs | 47 |
Innovation and Technology
The corporation invests significantly in technological advancements to enhance banking experiences.
- Technology Investment: $42.5 million in 2023
- Digital Platform Upgrade Completion Rate: 96%
- Cybersecurity Investment: $8.7 million
Diversity and Inclusion
Atlantic Union Bankshares maintains a robust diversity and inclusion strategy.
| Workforce Diversity Representation | 42% minorities |
| Leadership Diversity | 35% women in executive roles |
Sustainability Commitment
The bank integrates environmental sustainability into its operational strategy.
- Carbon Emission Reduction: 22% since 2020
- Green Investment Portfolio: $567 million
- Renewable Energy Financing: $124 million
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