2023-07-25 07:38:22 ET
- Atlantic Union Bank press release ( NYSE: AUB ): Q2 Non-GAAP EPS of $0.74 beats by $0.07 .
- Revenue of $176.28M (-0.4% Y/Y) misses by $1.43M .
- At June 30, 2023, the ACL was $136.2 million and included an allowance for loan and lease losses of $120.7 million and a reserve for unfunded commitments of $15.5 million.
- For the second quarter of 2023, the Company recorded a provision for credit losses of $6.1 million, compared to a provision for credit losses of $11.9 million in the prior quarter, and a provision for credit losses of $3.6 million in the second quarter of 2022.
- The effective tax rate for the three months ended June 30, 2023 and 2022 was 14.4% and 16.7%, respectively.
- "Our net interest margin decreased 4 basis points from the prior quarter to 3.37% at June 30, 2023, and our net interest margin decreased 5 basis points during the same period to 3.45%."
For further details see:
Atlantic Union Bank Non-GAAP EPS of $0.74 beats by $0.07, revenue of $176.28M misses by $1.43M