Atlantic Union Bank
| Company type | Public |
|---|---|
| Industry | Banking |
| Founded | 1902 |
| Headquarters | Richmond, Virginia , United States |
Area served | Virginia, Maryland, North Carolina |
| Products | Automobile lending, commercial real estate financing, construction loans, residential loans, equipment financing, insurance |
Atlantic Union Bankshares Corporation operates as a bank holding company based in Richmond, Virginia, serving as the parent organization of Atlantic Union Bank. With a network of 129 branches located throughout Virginia, Maryland, and North Carolina, it stands as the largest bank headquartered in Virginia and ranks among the top banking institutions nationwide. Its range of financial products encompasses automobile lending, commercial real estate financing, construction and residential loans, equipment financing solutions, and various insurance offerings.
History
Originally established in 1902 in Bowling Green, Kentucky under the name Union Bank and Trust Co., the firm experienced substantial expansion via mergers and acquisitions. In February 2010, it combined operations with First Market Bank, FSB, adopting the new name Union First Market Bank (UFMB). Later that year, UFMB integrated affiliate banks Northern Neck State and Rappahannock National into its structure.
The 2014 purchase of StellarOne Bank further accelerated growth, followed by a corporate rebranding to Union Bank & Trust (UB&T) in 2015. The company pursued additional strategic acquisitions with Xenith Bank in 2017 and Access National Corporation along with Middleburg Bank in 2019. These expansions led to renaming the bank as Atlantic Union Bank to better represent its broadened geographic reach.
In October 2019, Atlantic Union initiated a commercial equipment finance division aimed at diversifying its lending activities. By June 2022, it divested its registered investment adviser subsidiary to concentrate more fully on core banking services.
The firm transitioned its stock listing from Nasdaq to the New York Stock Exchange in January 2023 to enhance its market visibility. In April 2024, Atlantic Union acquired American National Bankshares Inc., extending its presence into Virginia’s Southside region, New River Valley, Roanoke metropolitan area, as well as important North Carolina markets including the Piedmont Triad and Raleigh.
In April 2025, Atlantic Union completed a $1.6 billion acquisition of Sandy Spring Bank, further expanding its regional influence. Shortly thereafter, in June 2025, it sold roughly $2 billion in commercial real estate loans to an affiliate of The Blackstone Group, optimizing its loan portfolio management.
Naming rights and sponsorships
Atlantic Union Bank holds the naming rights for the Atlantic Union Bank Center, a versatile arena located at James Madison University in Harrisonburg, Virginia. This agreement spans ten years with a sponsorship value of $2.25 million. Additionally, the bank sponsors the Atlantic Union Bank Pavilion situated in Portsmouth.
The bank actively supports local initiatives such as the Drumstick Dash 5K race in Roanoke and the 10K Mini run for children held in Richmond. These sponsorships underscore its commitment to community engagement and strengthening its presence within regional markets.
Philanthropy
In December 2019, Atlantic Union Bank contributed a building to the Bowling Green community, showcasing its dedication to local growth. After the 2022 Russian invasion of Ukraine, the bank played a key role in organizing a fundraising campaign to aid Ukrainian humanitarian relief. In 2023, it awarded grants to support community organizations and non-profits in hiring summer interns, highlighting its commitment to workforce development and corporate social responsibility.