Atlantic Union Bankshares Corp Earnings Per Share Disclosure
17. EARNINGS PER SHARE
Basic EPS is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common shares outstanding during the period, including the effect of dilutive potential common shares outstanding attributable to stock awards and incremental shares related to the Forward Sale Agreements, while excluding any anti-dilutive weighted shares outstanding. Refer to Note 12 “Stockholder’s Equity” in this Form 10-K for more information on the Forward Sale Agreements.
The following table presents basic and diluted EPS calculations for the years ended December 31, (in thousands except per share data):
| 2025 | | 2024 | | 2023 | ||||
Net Income: |
| |
| |
| | |||
Net income | $ | 273,715 | $ | 209,131 | $ | 201,818 | |||
Less: Preferred stock dividends | 11,868 | 11,868 | 11,868 | ||||||
Net income available to common shareholders | $ | 261,847 | $ | 197,263 | $ | 189,950 | |||
Weighted average shares outstanding, basic |
| 128,777 |
| 86,150 |
| 74,961 | |||
Dilutive effect of stock awards and Forward Sale Agreements |
| 384 |
| 1,759 |
| 1 | |||
Weighted average shares outstanding, diluted |
| 129,161 |
| 87,909 |
| 74,962 | |||
Earnings per common share, basic | $ | 2.03 | $ | 2.29 | $ | 2.53 | |||
Earnings per common share, diluted | $ | 2.03 | $ | 2.24 | $ | 2.53 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 25, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 25, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.