Atlantic Union Bank and American National Bank received approval this week from the Board of Governors of the Federal Reserve System for its planned merger. The merger agreement had been announced last July.
“Combining the two organizations will strengthen Atlantic Union Bank’s customer base in Southwest and Southside Virginia,” a release stated.
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.
Headquartered in Richmond, 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 portio...