American National Bank is a well-capitalized institution with excellent asset management, diversified assets, strong liquidity, and sound margins. We have consciously avoided exposure to volatile business lines such as cryptocurrency and venture capital investing. As a privately held institution with a trusted history spanning over 165 years, ANB has consistently proven to be a stable, safe, and preferred place for banking american national bank of texas, login, locations, news. ????????
We’ve consistently placed safety and stability as our top priorities, followed by profitability and growth. Our strong risk management procedures have led to a secure financial position, allowing us to serve our existing and potential clients efficiently. As a community bank, we take pride in our commitment and remain attentive to changing market dynamics. We’re confident in our capability to fulfill your requirements both now and in the future. ????????️
???? Atlantic Union to Acquire American National Bank:
Atlantic Union Bank has recently entered into an agreement to acquire American National Bank. The transition is expected to have minimal impact on the South Boston branch office, according to bank company officials.
“When you look at the combined banks’ footprint, there is very little overlap,” stated Carolyn Kiser, senior vice president for marketing at American National Bank. “Where there is overlap, the branches of both banks are in close proximity; a few are even within sight.” ????????
American National Bankshares Inc. serves as the holding company for American National Bank and Trust Co., headquartered in Danville. With Atlantic Union Bank’s acquisition, the Danville headquarters is likely to remain open, and Jeff Haley, American National’s chairman, president, and CEO, is expected to maintain an office there. ????????
Founded in 1909, American National currently operates 26 branches in Virginia and North Carolina. One of its branches is located on Old Halifax Road in South Boston, and it is ranked as the ninth-largest bank in Virginia. On the other hand, Atlantic Union, the largest community bank headquartered in Virginia, has an impressive presence with 109 branches and assets totaling $20.6 billion, along with $15.7 billion in deposits as of June 30. The merger between these two financial institutions is expected to yield a combined total of $23.7 billion in assets, marking a significant growth ????????.
Regarding employment, Atlantic Union does not anticipate substantial job reductions or branch closures resulting from the merger. The evaluation of staffing and the inclusion of particular branches will occur in the upcoming months.
Kiser pointed out that the potential staff reduction should not greatly worry American National’s local branches at this juncture. “As is customary in mergers of two companies, there will be job impacts due to redundancies in specific roles. Nevertheless, there is considerably less redundancy in certain areas of the bank, particularly within our local branch network.” ????????
???? Joint Investor Conference Call:
Atlantic Union will host a conference call to discuss its second-quarter earnings on July 25, 2023, at 9:00 a.m. Eastern Time, and American National will join to discuss today’s announcement. The webcast with an investor presentation can be accessed here. For analysts wishing to participate in the conference call, registration is available here. ????????
???? Media Availability:
Senior leadership of Atlantic Union will be available virtually to members of the news media from 3:15 p.m. to 3:45 p.m. Eastern Time on July 25, 2023. To participate, please contact Beth Shivak, Atlantic Union’s SVP and Director of Corporate Communications at 804.327.5746. ????️????
Headquartered in Richmond, Virginia, Atlantic Union is the holding company for Atlantic Union Bank. Atlantic Union Bank has 109 branches and approximately 125 ATMs located throughout Virginia, portions of Maryland, and North Carolina. Atlantic Union also offers various non-bank financial services through its affiliates american national bank of texas, login, locations, news. ????️????
American National is a multi-state bank holding company with total assets of approximately $3.1 billion. Headquartered in Danville, Virginia, American National is the parent company of American National Bank and Trust Company. American National Bank is a community bank serving Virginia and North Carolina with 26 banking offices. American National Bank also manages an additional $1.2 billion of trust, investment, and brokerage assets in its Wealth Management Division. ????????
???? Caution About Forward-Looking Statements:
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve various risks and uncertainties and should be carefully considered when making investment decisions. ????????
???? Important Additional Information and Where to Find It:
Investors and shareholders are urged to review the Registration Statement and Proxy Statement/Prospectus regarding the proposed transaction when they become available, as they will contain essential information about the merger. This communication is not an offer to sell or a solicitation of an offer to buy any securities. ????????
???? Participants in the Solicitation:
Certain individuals associated with Atlantic Union and American National may be participants in the solicitation of proxies regarding the proposed transaction. Information about these individuals and their interests can be found in filings with the SEC. Investors are encouraged to read these filings before making any voting or investment decisions american national bank of texas, login, locations, news. ????????
For more information, please contact:
- Bill Cimino, SVP and Director of Investor Relations at Atlantic Union: (804) 448-0937
- Jeffrey W. Farrar, Chief Operating and Chief Financial Officer of American National: (434) 773-2274 ????????
Who took over American National Bank?
With Atlantic Union Bank’s recent agreement to acquire American National Bank, the South Boston branch office should be little affected by the transition, according to bank company officials.
Is American National a good bank?
As a privately held institution with a history as a trusted and reliable partner for more than 165 years, ANB is and has a long and demonstrated track record of being a stable, safe, and preferred place to bank.
