Atlantic Union Bank Announces Creation of New Equipment Finance Division


RICHMOND, Va., Oct. 22, 2019 (GLOBE NEWSWIRE) — Atlantic Union Bank today announced the creation of a new division of the bank called Atlantic Union Equipment Finance.

Atlantic Union Equipment Finance will provide a wide variety of equipment finance solutions to commercial and enterprise customers. This includes financing equipment assets including marine, tractors, trailers, buses, construction, manufacturing, and medical, among other types of equipment. Atlantic Union Bank will leverage this new capacity to capitalize on opportunities across its Mid-Atlantic footprint, in addition to financing outside of the Mid-Atlantic.

“Atlantic Union Bank continues to introduce more products and services to help our customers thrive in a competitive business environment,” said John C. Asbury, President and CEO of Atlantic Union Bankshares Corporation. “Adding equipment financing and leasing to our product line allows us to better meet the growing business needs of our customers while diversifying our commercial loan portfolio.

“Atlantic Union Equipment Finance will be supported by a seasoned management team with a proven track record in equipment financing and leasing. The team will start with a strong group of origination, credit and operations teammates and with the support of our Commercial Banking Group,” said David Ring, Director of Commercial Group Banking, Atlantic Union Bank. .

Jule Kreyling will serve as President of Atlantic Union Equipment Finance and will report to David Ring. Kreyling has over 25 years of experience in equipment financing and leasing, as well as extensive experience building successful equipment finance companies for financial institutions. Kreyling holds an undergraduate degree from Williams College and a law degree from Harvard Law School.

“We strive to provide a highly differentiated customer experience,” said Jule Kreyling, president of Atlantic Union Equipment Finance. “We have a strong customer-centric philosophy that is underpinned by a commitment to minimizing risk through strong credit discipline.”

To learn more about Atlantic Union Bank, visit www.AtlanticUnionBank.com.

About Atlantic Union Bankshares Corporation
Based in Richmond, Virginia, Atlantic Union Bankshares Corporation (AUB) is the holding company of Atlantic Union Bank. Atlantic Union Bank has 149 branches and approximately 170 ATMs located throughout Virginia and parts of Maryland and North Carolina. Middleburg Financial is a brand name used by Atlantic Union Bank and certain affiliates to provide trust, wealth management, private banking and investment advisory products and services. Certain non-banking subsidiaries of Atlantic Union Bank include: Old Dominion Capital Management, Inc., and its subsidiary, Outfitter Advisors, Ltd., Dixon, Hubard, Feinour & Brown, Inc., and Middleburg Investment Services, LLC, which provide investment services advisory and/or brokerage services; and Union Insurance Group, LLC, which offers various lines of insurance products.

Forward-looking statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. They are not statements of historical fact. These statements also include statements about the Bank’s Atlantic Union Equipment Finance division and its activities and expected results. These forward-looking statements are based on various assumptions at the time they are made and are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are often accompanied by words that convey projected future events or results such as “expect”, “believe”, “estimate”, “plan”, “project”, “anticipate”, “have the intention, “will”, “may”, “view”, “opportunity”, “potential” or words of similar meaning or other statements regarding the opinions or judgment of Atlantic Union Bankshares Corporation (the “Company “) or its direction on future events. Although the Company believes that its expectations with respect to forward-looking statements are based on reasonable assumptions within the limits of its current knowledge of its business and operations, there can be no assurance that the actual results, performance or achievements of the Company will not differ materially from any projected future results, performance or achievements expressed or implied by such forward-looking statements. Actual future results, performance or achievements may differ materially from historical or anticipated results depending on a variety of factors, many of which are beyond the Company’s control. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, as well as the comparable sections of the company’s quarterly report. Reports on Form 10-Q and other filings, which have been filed with the SEC and are available on the SEC’s website at www.sec.gov. All forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. Actual results or anticipated developments may not be realized or, even if substantially realized, they may not have the consequences or the anticipated effects on the Company or its business or operations. Readers are cautioned not to rely on any forward-looking statements contained in this press release. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update, revise or clarify these forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Bill Cimino, Senior Vice President, Investor Relations
Bill.Cimino@AtlanticUnionBank.com804.448.0937

Beth Shivak, Vice President and Director of Corporate Communications
Beth.Shivak@AtlanticUnionBank.com804.327.5746

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