Atlantic Union Bankshares’ first quarter saw the market respond negatively, as revenue missed Wall Street expectations despite notable year-on-year growth. Management attributed the quarter’s results to continued loan growth, a successful integration of Sandy Spring Bank, and disciplined expense management. CEO John Asbury pointed to record fundings from the equipment finance group and strong production from the North Carolina commercial real estate team as bright spots, but also acknowledged elevated loan payoffs late in the quarter, particularly in commercial real estate, which offset some of the loan growth momentum.

Is now the time to buy AUB? Find out in our full research report (it’s free for active Edge members).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions From Atlantic Union Bankshares’s Q1 Earnings Call

• Russell Gunther (Stephens): Asked about the outlook for deposit costs and margin trends. Outgoing CFO Rob Gorman noted that while further reductions in deposit costs are limited, repricing of brokered deposits and maturing fixed-rate loans should provide some margin benefit.

• Sun Young Lee (TD Cowen): Questioned the direction of core and brokered deposit growth. Gorman explained that the company targets 3-4% growth in core customer deposits and expects brokered deposits to continue declining unless stronger loan growth requires additional funding.

• David Chiaverini (Jefferies): Inquired about customer sentiment in lending and the impact of the Basel III endgame on capital. CEO John Asbury and Head of Wholesale Dave Ring highlighted strong pipelines, with activity driven more by interest rate expectations than macroeconomic concerns. Gorman said Basel III changes would improve regulatory capital ratios.

• Catherine Mealor (KBW): Asked about loan competition and whether loan growth would be back-end loaded. Asbury and Ring emphasized that competition remains high, especially for higher-quality borrowers, but strong pipelines suggest growth is not solely back-end loaded.

• Stephen Moss (Raymond James): Probed on the impact of new reserve methodology and the use of securities portfolio to fund loan growth. Gorman detailed enhancements in credit modeling and confirmed the plan to redeploy securities cash flows to support lending.

Catalysts in Upcoming Quarters

Looking ahead, analysts will monitor (1) loan growth conversion rates, especially in the Carolinas, (2) the pace and cost of new deposit inflows amid rising competition, and (3) the impact of North Carolina branch expansion on both loan and deposit growth. Developments in credit quality and margin management, as well as the company’s ability to control expenses post-integration, will also be important markers of execution.

Atlantic Union Bankshares currently trades at $38.09, down from $38.73 just before the earnings. In the wake of this quarter, is it a buy or sell? See for yourself in our full research report (it’s free).

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