Atlantic Union Bankshares: Navigating Leadership Transitions to Unlock Long-Term Value
18min readThe financial sector is a realm where leadership stability and strategic vision are
. For Atlantic Union Bankshares (NYSE: AUB), the recent leadership transitions—coupled with the completion of its Sandy Spring Bancorp merger—present both challenges and opportunities. While succession risk often spooks investors, the bank’s deliberate handover of critical roles to seasoned internal talent and proactive executive searches suggest a path toward sustained growth. Here’s why this overlooked regional banking giant could be primed for a valuation renaissance.The Leadership Shifts: Stability in Transition
In May 2025, Atlantic Union announced two pivotal leadership moves:
1. Bradley Haun succeeded retiring CRO Sherry Williams, taking over on July 1, 2025. Haun, a 14-year veteran of the bank, has held roles from financial reporting director to chief audit executive, demonstrating deep institutional knowledge. CEO John Asbury praised Haun’s “proven ability to build teams and refine risk protocols,” a critical skill as the bank integrates its $40 billion post-merger operations.
2. Robert Gorman, the CFO since 2012, will retire by March 2026. His departure ends a tenure marked by transforming Atlantic Union from a $4 billion Richmond-based community bank into a Mid-Atlantic regional powerhouse. The bank has launched a nationwide search for his successor, leveraging an executive search firm to balance internal and external candidates.
These transitions are notable for their internal focus. Unlike abrupt outsider hires, Haun’s promotion reflects a deliberate retention of institutional memory. Meanwhile, Gorman’s exit is years in the planning, with the CFO role’s complexity (managing a $40 billion balance sheet) demanding a successor who can navigate both organic growth and merger integration.
The Merger’s Role: Scale with Substance
The April 2025 merger with Sandy Spring Bancorp added 129 branches and expanded Atlantic Union’s footprint into Maryland and North Carolina. While the deal’s regulatory hurdles are behind it, the leadership changes underscore a commitment to post-merger cohesion. The bank’s Q1 2025 results—a $0.57 EPS (vs. estimates of $0.72)—highlight short-term execution hiccups, but analysts remain bullish. Jefferies’ $37 price target (vs. AUB’s May 2025 price of ~$28) cites margin expansion potential and robust credit quality.
last-price  | last-change% | P/E(TTM)2025.05.21  | Dividend Yield (TTM)%2025.05.20 |
|---|---|---|---|
| 8.86 | 1.03% | 16.42K | 2.98 |
| 2.27 | 10.49% | 9.48K | -- |
| 12.24 | -7.06% | 8.83K | 6.06 |
| 6.62 | -4.81% | 5.44K | -- |
| 18.39 | -6.17% | 4.11K | -- |
| 8.87 | -3.06% | 3.78K | 1.91 |
| 19.01 | -1.20% | 2.96K | -- |
| 73.64 | -1.10% | 2.92K | 1.73 |
| 19.44 | -2.80% | 2.20K | 4.35 |
| 3.37 | 4.33% | 2.06K | -- |
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Succession Risk vs. Strategic Advantage
Succession risk is a double-edged sword. On one hand, losing Gorman—a figure synonymous with the bank’s growth—could unsettle investors. On the other, the bank’s proactive approach to succession signals confidence in its institutional resilience. Consider:
- CRO Transition: Haun’s tenure ensures continuity in risk management, a vital function for a bank managing $40 billion in assets.
- CFO Search: By prioritizing both internal and external candidates, Atlantic Union avoids relying on unproven outsiders while retaining flexibility to attract external expertise.
- M&A Synergy: The Sandy Spring merger’s completion aligns with leadership stability, reducing integration risks.
Why This Is a Buying Opportunity
Atlantic Union trades at a P/B ratio of 1.2x—a discount to peers like Truist (1.8x) and BB&T (1.6x)—despite its strong Mid-Atlantic presence and post-merger scale. With a dividend yield of 3.2% and a history of shareholder-friendly capital returns, the stock offers both income and growth potential.
The key catalyst? Smooth leadership transitions. If Haun’s CRO tenure proves seamless and the CFO search yields a capable successor by early 2026, the market could reassess AUB’s risk profile. Analysts already see a path to $0.75 EPS in 2026, implying a 30% upside from current estimates.
Final Analysis: Act Now Before the Gap Narrows
Atlantic Union Bankshares isn’t just surviving leadership changes—it’s leveraging them to solidify its position as a regional banking leader. With a $2.2 billion market cap, robust Mid-Atlantic branch network, and a merger that adds scale without overextending, the stock is primed for a valuation rebound.
Investors should act swiftly: The combination of strategic leadership continuity, merger synergies, and undervalued shares creates a rare asymmetric opportunity. Buy AUB now at $28/share, and set a price target of $35 by year-end 2025. The risk-reward here is compelling—especially if the market finally catches up to the bank’s true potential.
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