Atlantic Union Bank is headquartered in RICHMOND CITY and is the 4th largest bank in the state of Virginia. It is also the 84th largest bank in the nation. It was established in 1997 and as of June of 2024, it had grown to 2,083 employees at 135 locations. Atlantic Union Bank's money market rates are 7X the national average, and it boasts an A+ health rating.
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Poor Choice For Business Banking Needs
From the clunky online banking experience which is confusing to navigate on what seems decades-old web platforms, to extremely long wait times for phone customer service by phone, I would think twice before opening a business account with Atlantic Union.
Poor Customer Service Line
I had a problem with a deposited check not showing up in account days later despite it clearing the person who wrote its bank. I called customer service 800# to discuss. First I was on hold for > 30 minutes starting at 8:10 am & I had to hang up. Recalled later & waited again. I got live agent after 15 minutes. She asked me all these security questions including specific deposit amounts or transactions amounts , which I understand for security, but then told me that I answered incorrectly and she couldnt help me. When I asked which part I answered wrong so I could figure out if I misspoke or misunderstood her, she said she couldn't tell me that. I believe it was probably because she asked for a specific deposit amount & I gave her a transfer amount as that account isn't used often for direct deposit. I even said to her "I have a transfer amount" I would think they could say "I need an actual deposit" Or it could be because I also live in an area that sometimes my address pops up as the county & sometimes as the city. Did I get that wrong?? I wouldn't know. So then I called the branch. They don't answer phone anymore & state they'll get back to you in 24-48 hours! I'm missing vital money for my business for now 4 days!
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34589 |
| Year Established | 1997 |
| Employees | 2083 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.85% |
| Return on Equity - YTD | 6.31% |
| Annual Interest Income | $583.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $24.64B$20.5B |
| Loans | Q2 2024vs Q2 2023 | $18.2B$14.96B |
| Deposits | Q2 2024vs Q2 2023 | $20.02B$16.43B |
| Equity Capital | Q2 2024vs Q2 2023 | $3.37B$2.72B |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $158.1MM$120.7MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $51.4MM$39MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $9.9MM$2.1MM |
