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July 22 , 2021 Atlantic Union Bankshares Atlantic Union Bankshares Reports Second Quarter Results RICHMOND , Va . , July 22 , 2021 ( GLOBE NEWSWIRE ) -- Atlantic Union Bankshares Corporation ( the “ Company ” or “ Atlantic Union " ) ( Nasdaq : AUB ) today reported net income available to common shareholders of $ 82.4 million and basic and diluted earnings per common share of $ 1.05 for the second quarter ended June 30 , 2021. Pre - tax pre - provision adjusted operating earnings ( 1 ) were $ 77.0 million for the second quarter ended June 30 , 2021 . Net income available to common shareholders was $ 135.6 million and basic and diluted earnings per common share of $ 1.72 for the six months ended June 30 , 2021. Adjusted operating earnings available to common shareholders ( 1 ) were $ 147.2 million , diluted operating earnings per common share ( 1 ) were $ 1.87 , and pre - tax pre - provision adjusted operating earnings ( 1 ) were $ 145.6 million for the six months ended June 30 , 2021 . " Atlantic Union delivered solid financial results in the second quarter reflective of steadily improving economic conditions as the headwinds from COVID - 19 continued to subside , " said John C. Asbury , president and chief executive officer of Atlantic Union . “ During the second quarter , loan balances grew modestly , credit quality remained pristine and our capital and liquidity positions continue to be strong . " As we head into the second half of 2021 , we expect that loan growth will accelerate as economic activity picks up over the next several quarters and credit losses will remain historically low due to the positive economic outlook . Operating under the mantra of soundness , profitability and growth - in that order of priority - Atlantic Union remains committed to generating sustainable , profitable growth and building long term value for our shareholders . " Small Business Administration ( " SBA " ) Paycheck Protection Program ( “ PPP ” ) The Company has participated in the SBA PPP under the Coronavirus Aid , Relief , and Economic Security ( " CARES " ) Act ( " PPP Round One " ) , which was intended to provide economic relief to small businesses that have been adversely impacted by the COVID - 19 global pandemic ( " COVID - 19 " ) . The Company processed over 11,000 PPP loans totaling $ 1.7 billion in 2020 pursuant to the CARES Act . The loans carry a 1 % interest rate . As of June 30 , 2021 , PPP Round One loans have a recorded investment of $ 337.7 million and unamortized deferred fees of $ 2.0 million . Certain provisions of the CARES Act , including additional PPP funding , were extended during December 2020 and expired on May 31 , 2021 ( " PPP Round Two " ) . The Company processed over 5,000 loans pursuant to PPP Round Two , with a recorded investment of $ 546.1 million and unamortized deferred fees of $ 22.4 million as of June 30 , 2021. The loans carry a 1 % interest rate .