Richmond, Va.-based Atlantic Union Bankshares Corp. reported net income of $55.8 million, or 69 cents per share, for the fourth quarter of 2019, higher than $44.1 million, or 67 cents per share, in the year-ago period.
The S&P Global Market Intelligence consensus GAAP EPS estimate for the fourth quarter was 70 cents per share.
On a fully tax-equivalent basis, net interest income stood at $137.8 million, compared to $139.4 million in the prior quarter and $111.4 million in the year-ago quarter.
The company posted net operating earnings for the quarter of $57.3 million, up from $56.1 million in the linked quarter and up from $46.2 million in the year-ago period.
Total loans held for investment were $12.61 billion, up from $12.31 billion in the third quarter and up from $9.72 billion in the year-ago quarter. Meanwhile, total deposits were $13.30 billion, compared with $13.04 billion in the linked quarter and $9.97 billion a year ago.
For the fourth quarter of 2019, total nonperforming assets were $32.9 million, down from $36.4 million in the previous quarter and down from $33.7 million a year earlier.
For full year 2019, the company's net income was $193.5 million, or $2.41 per share, compared with $146.2 million, or $2.22 per share, in 2018.
The S&P Global Market Intelligence consensus GAAP EPS estimate for 2019 was $2.41.