Atlantic Union Bank
A Virginia-headquartered regional bank serving consumers, businesses, and communities across the Mid-Atlantic.
Last updated August 22, 2026
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Overview
Atlantic Union Bank is a regional American bank headquartered in Richmond, Virginia, and the principal banking subsidiary of Atlantic Union Bankshares Corporation. Its institutional history traces back to Union Bank and Trust Company, established in 1902 in Bowling Green, Virginia. Over more than a century, the organization expanded through mergers, acquisitions, affiliate-bank consolidations, geographic growth, and changes in brand identity. The bank provides consumer and commercial banking services. Its lending activities include automobile loans, housing and mortgage finance, commercial real estate, construction lending, equipment financing, and other business credit. It also offers deposit accounts, payment and transaction services, wealth-related services, and insurance products. The bank's customer base includes individuals, families, small and midsize businesses, commercial borrowers, nonprofit organizations, and other institutional clients. The institution operated under several names during its development. In 2010, it merged with First Market Bank, FSB, and adopted the Union First Market Bank name. Later that year, Northern Neck State and Rappahannock National were consolidated into the combined bank. The acquisition of StellarOne Bank in 2014 broadened its Virginia presence, while the 2015 Union Bank & Trust rebrand reflected a further stage in the institution's development. Acquisitions of Xenith Bank in 2017 and Access National Corporation, including Middleburg Bank, in 2019 materially expanded its customer and branch network. In May 2019, the organization adopted the Atlantic Union Bank name to signal a wider Mid-Atlantic footprint. Subsequent expansion included the April 2024 acquisition of American National Bankshares and its American National Bank and Trust subsidiary. That transaction extended the bank's presence into Virginia's Southside, the New River Valley, the Roanoke metropolitan area, and parts of North Carolina, including the Piedmont Triad and Raleigh markets. In April 2025, Atlantic Union Bank acquired Sandy Spring Bank, another significant step in its regional expansion. The bank has maintained a community-oriented public profile through sponsorships, venue naming rights, donations, and nonprofit initiatives. It holds naming rights for the Atlantic Union Bank Center at James Madison University and the Atlantic Union Bank Pavilion in Portsmouth. It has also supported community events such as Drumstick Dash in Roanoke and the 10K Mini in Richmond. Alongside this community presence, the bank has faced regulatory scrutiny. In December 2023, the Consumer Financial Protection Bureau ordered it to pay $6.2 million over allegations involving misleading telephone enrollment of customers in an overdraft program and violations of the Electronic Fund Transfer Act. Atlantic Union Bank remains a publicly traded banking business operating primarily in the Mid-Atlantic United States. Its scale, branch network, acquisition history, and product mix place it among the larger banks headquartered in Virginia.
History
Atlantic Union Bank traces its origins to Union Bank and Trust Company, which was founded in 1902 in Bowling Green, Virginia. The institution developed as a Virginia community bank and subsequently broadened its reach through combinations with other financial institutions. A major stage in its modern development began in February 2010, when it merged with First Market Bank, FSB. Following that transaction, the company adopted the Union First Market Bank name. In June of the same year, two affiliated institutions, Northern Neck State and Rappahannock National, were merged into Union First Market Bank. These combinations consolidated the organization's Virginia banking operations. The bank expanded again through the 2014 acquisition of StellarOne Bank. In 2015, Union First Market Bank changed its name to Union Bank & Trust, commonly abbreviated as UB&T. The new identity represented an effort to present the institution as a broader banking and trust-services organization while retaining its regional roots. Expansion accelerated in the late 2010s. In December 2017, the bank acquired Xenith Bank. In February 2019, it acquired Access National Corporation and its subsidiary, Middleburg Bank. These transactions expanded the institution's geographic reach and customer base. In May 2019, Union Bank & Trust was rebranded Atlantic Union Bank, a name intended to reflect the organization's broader Mid-Atlantic orientation rather than a presence limited to its historical Virginia markets. The organization also adjusted its business structure during this period. In October 2019, it established a division dedicated to commercial equipment finance, adding a more specialized platform for business customers. In June 2022, the company sold its registered investment adviser subsidiary, changing the composition of its wealth-related operations. In January 2023, its parent company's stock listing moved from Nasdaq to the New York Stock Exchange, where it trades under the ticker AUB. In April 2024, Atlantic Union Bank acquired American National Bankshares, the Danville-based parent of American National Bank and Trust Company. The transaction expanded the bank's reach into Virginia's Southside, the New River Valley, and the Roanoke metropolitan area. It also strengthened the bank's presence in North Carolina, particularly in the Piedmont Triad and Raleigh areas. In April 2025, the organization acquired Sandy Spring Bank, continuing its strategy of growth through regional bank combinations. Atlantic Union Bank has supplemented its banking operations with community sponsorships and philanthropy. It holds naming rights for the Atlantic Union Bank Center at James Madison University in Harrisonburg and the Atlantic Union Bank Pavilion in Portsmouth. It has sponsored running events in Virginia, including Drumstick Dash in Roanoke and the 10K Mini in Richmond. The bank donated a building to the town of Bowling Green in December 2019, co-organized a fundraiser supporting Ukraine in 2022, and funded grants in 2023 that helped community and nonprofit organizations hire summer interns. The bank has also encountered regulatory controversy. In December 2023, the Consumer Financial Protection Bureau ordered Atlantic Union Bank to pay $6.2 million in connection with allegations that it misled customers and illegally enrolled thousands of them in a checking-account overdraft program by telephone. The agency said the conduct violated the Electronic Fund Transfer Act. This enforcement action forms an important part of the institution's recent public record. Today, Atlantic Union Bank is a publicly traded, Virginia-headquartered regional banking organization with operations across several Mid-Atlantic markets. Its business combines consumer deposits and lending, commercial and real estate finance, equipment financing, insurance, and related financial services.
- 2025
Sandy Spring Bank acquired
[1]Atlantic Union Bank continued its Mid-Atlantic expansion through the acquisition of Sandy Spring Bank.
- 2024
American National Bankshares acquired
[1]The acquisition expanded coverage in southern and western Virginia and in several North Carolina markets.
- 2023
Stock listing transferred to the New York Stock Exchange
[1]The parent company's stock listing moved from Nasdaq to the New York Stock Exchange.
- 2022
Registered investment adviser subsidiary sold
[1]The company sold its registered investment adviser subsidiary.
- 2019
Access National Corporation acquired
[1]The acquisition included Access National Corporation and its subsidiary, Middleburg Bank.
- 2019
Atlantic Union Bank name adopted
[1]Union Bank & Trust rebranded as Atlantic Union Bank to reflect its wider geographic footprint.
- 2019
Commercial equipment finance division created
[1]The organization established a division focused on financing commercial equipment.
- 2017
Xenith Bank acquired
[1]The bank acquired Xenith Bank as part of its regional expansion.
- 2015
Union Bank & Trust rebrand
[1]Union First Market Bank changed its name to Union Bank & Trust.
- 2014
StellarOne Bank acquired
[1]The acquisition expanded the organization's banking operations in Virginia.
Products and positioning
A relationship-oriented regional bank combining consumer banking, commercial lending, community presence, and Mid-Atlantic branch coverage.
Consumer banking
Personal banking
Atlantic Union Bank's personal banking offering includes transaction and deposit products for individual customers, including checking and savings accounts. Its consumer-finance activities also include automobile lending and housing-related credit. These services form the retail-banking base of the institution's regional branch and digital banking model.
Business banking
Commercial banking
Commercial banking services are designed for businesses and other organizations and include deposits, lending, treasury-related banking, and relationship management. The bank serves commercial borrowers through products such as business loans, commercial real estate finance, construction lending, and equipment financing.
Lending
Residential mortgage and housing finance
The bank provides housing-related loans and residential mortgage finance. This business supports homebuyers and property owners while complementing the institution's broader consumer banking and deposit services.
Commercial lending
Commercial real estate and construction lending
Atlantic Union Bank lends against commercial real estate and construction projects. These products address the financing needs of developers, property owners, investors, and operating businesses, and represent a significant part of its commercial-banking scope.
Specialty finance · 2019
Equipment finance
A dedicated commercial equipment-finance division was created in 2019. The business provides financing for companies acquiring equipment and gives the bank a specialized platform within its commercial lending portfolio.
Financial services
Insurance products
Insurance products are part of the bank's broader financial-services offering. They complement deposit, lending, and relationship-banking services for consumers and business customers.
Controversies
2023
CFPB enforcement action over overdraft-program enrollment
The Consumer Financial Protection Bureau ordered Atlantic Union Bank to pay $6.2 million after alleging that the bank misled and illegally enrolled thousands of customers in a checking-account overdraft program by telephone. The agency identified violations of the Electronic Fund Transfer Act.
Marketing campaigns
- 2023Community summer internship grants
Virginia · United States
The bank funded grants that enabled community groups and nonprofit organizations to hire summer interns.
Outcome. The grants supported nonprofit staffing and work-experience opportunities for young people.
- 2022Ukraine fundraising initiative
United States
Following Russia's invasion of Ukraine, the bank co-organized a fundraiser supporting Ukraine.
Outcome. The initiative directed community attention and fundraising toward humanitarian support for Ukraine.
- Atlantic Union Bank Center naming-rights sponsorship
Harrisonburg, Virginia · United States
Atlantic Union Bank holds naming rights for the multipurpose arena at James Madison University's campus in Harrisonburg under a ten-year sponsorship agreement reported at $2.25 million.
Outcome. The venue operates under the Atlantic Union Bank Center name, increasing the bank's visibility in a major Virginia university and community setting.
- Atlantic Union Bank Pavilion naming-rights sponsorship
Portsmouth, Virginia · United States
The bank holds naming rights for the Atlantic Union Bank Pavilion in Portsmouth.
Outcome. The sponsorship associates the bank's brand with a regional entertainment and community venue.
- Virginia community event sponsorships
Roanoke, Virginia · Richmond, Virginia · United States
Atlantic Union Bank has sponsored Drumstick Dash, a 5K event in Roanoke, and the 10K Mini children's run in Richmond.
Outcome. These sponsorships support the bank's community-facing presence in Virginia.
Brand decisions
2025
Acquired Sandy Spring BankM&ABackground
The bank continued its strategy of regional scale-building through acquisitions.
Action taken
Atlantic Union Bank acquired Sandy Spring Bank.
Aftermath
The transaction further enlarged the institution's Mid-Atlantic banking footprint.
2025
Sold commercial real estate loan portfolioOtherBackground
The company adjusted its commercial real estate exposure through a portfolio transaction.
Action taken
It sold approximately $2 billion of commercial real estate loans to an affiliate of The Blackstone Group at a price in the low 90s as a percentage of par value.
Aftermath
The sale transferred a substantial commercial real estate loan portfolio to a Blackstone affiliate.
Commercial real estate loans sold. Approximately $2 billion sold (June 2025)
2024
Acquired American National BanksharesM&ABackground
Atlantic Union Bank sought to extend its presence into additional Virginia and North Carolina markets.
Action taken
The company acquired American National Bankshares, parent of American National Bank and Trust.
Aftermath
The transaction expanded the bank into Virginia's Southside, New River Valley, and Roanoke areas and into North Carolina's Piedmont Triad and Raleigh markets.
2019
Adopted the Atlantic Union Bank brandStrategyBackground
The organization had expanded beyond its earlier Union Bank & Trust identity through acquisitions and broader Mid-Atlantic operations.
Action taken
Union Bank & Trust changed its name to Atlantic Union Bank in May 2019.
Aftermath
The new name positioned the bank as a regional institution serving markets beyond its historical Virginia base.
Recent events
- 2025
Atlantic Union Bank acquired Sandy Spring Bank[1]
M&A
Atlantic Union Bank completed an acquisition of Sandy Spring Bank, extending its regional banking expansion.
- 2025
Atlantic Union Bank sold commercial real estate loans to a Blackstone affiliate[1]
Other
The company sold approximately $2 billion of commercial real estate loans to an affiliate of The Blackstone Group at a price described as being in the low 90s as a percentage of par value.
- 2024
Atlantic Union Bank acquired American National Bankshares[1]
M&A
The acquisition of American National Bankshares, parent of American National Bank and Trust, expanded Atlantic Union Bank into Virginia's Southside, New River Valley, and Roanoke markets and into additional North Carolina markets.
Sources2 sources
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