Atlantic Union Bank completes integration of American National Bank and Trust Company

May 28, 2024•about 1 year ago

Acquiring Company

Atlantic Union Bankshares

Acquired Company

American National Bank and Trust Company

Glen Allen

BeratBankingBankingLendingFinanceFinancial Services

Description

Atlantic Union Bank has successfully completed the integration of American National Bank and Trust Company branches and operations, unifying the bank across its footprint in Virginia, North Carolina, and Maryland. This integration reinforces Atlantic Union Bank's commitment to providing conveniences, services, and products that are most important to its customers.

Company Information

Company

Atlantic Union Bankshares

Location

Glen Allen, Virginia, United States

About

Atlantic Union Bank, a Top Workplace 2024, has been a trusted banking partner for our customers and local businesses since 1902. And, although we’ve grown over the years to become the largest regional bank headquartered in Virginia—offering financial strength, industry-specific expertise, sophisticated digital capabilities, and entrepreneurial innovation—we haven’t lost touch with our customer-centric approach to making banking easier and our commitment to bettering the communities in which we all live and work.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

Related People

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