Atlantic Union Bankshares Corporation Announces Receipt of Regulatory Approvals to Complete Merger with American National Bankshares Inc.
February 23 2024 - 2:27PM
Business Wire
Atlantic Union Bankshares Corporation announced today that it
has received regulatory approval from the Board of Governors of the
Federal Reserve System (the “Federal Reserve”) to complete the
previously announced merger of American National Bankshares Inc.
(“American National”) with and into Atlantic Union Bankshares in an
all-stock transaction. The Federal Reserve approval follows
approvals from the Virginia State Corporation Commission and the
shareholders of American National.
“We are pleased to have received all of the regulatory and
shareholder approvals necessary to close the merger, and we plan to
close the transaction on April 1, 2024, subject to the satisfaction
of customary closing conditions,” said John C. Asbury, President
and CEO of Atlantic Union Bankshares.
About Atlantic Union Bankshares Corporation
Headquartered in Richmond, Virginia, Atlantic Union Bankshares
Corporation (NYSE: AUB) is the holding company for Atlantic Union
Bank. Atlantic Union Bank has 109 branches and 123 ATMs located
throughout Virginia and in portions of Maryland and North Carolina
as of December 31, 2023. Certain non-bank financial services
affiliates of Atlantic Union Bank include: Atlantic Union Equipment
Finance, Inc., which provides equipment financing; Atlantic Union
Financial Consultants, LLC, which provides brokerage services; and
Union Insurance Group, LLC, which offers various lines of insurance
products.
Caution About Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Examples of forward-looking statements include, but are not
limited to, the planned timing for closing the proposed merger.
Such statements are often characterized by the use of qualified
words (and their derivatives) such as “plan,” “may,” “will,”
“anticipate,” “could,” “should,” “would,” “believe,” “expect,” as
well as words of similar meaning. Forward-looking statements are
based on assumptions as of the time they are made and are subject
to risks, uncertainties and other factors that are difficult to
predict with regard to timing, extent, likelihood and degree of
occurrence, which could cause actual results to differ materially
from anticipated results expressed or implied by such
forward-looking statements. Such risks, uncertainties and
assumptions, include, among others, the occurrence of any event,
change or other circumstances that could give rise to the right of
one or both of the parties to terminate the merger agreement, or a
delay in one or both of the parties in completing all customary
closing conditions. Forward-looking statements speak only as of the
date they are made and we undertake no obligation to update or
clarify these forward-looking statements, whether as a result of
new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240223751354/en/
Bill Cimino (804) 448-0937, SVP and Director of Investor
Relations of Atlantic Union
Atlantic Union Bankshares (NYSE:AUB)
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