Atlantic Union Bankshares Corporation completes acquisition of American National Bankshares Inc.
Apr 01, 2024•over 1 year ago
Acquiring Company
Atlantic Union Bankshares Corporation
Acquired Company
American National Bankshares
Description
Atlantic Union Bankshares Corporation has successfully completed its merger with American National Bankshares Inc. This strategic move enhances Atlantic Union’s presence in Central, Western and Southern Virginia, and marks its entry into North Carolina’s Piedmont Triad region and Raleigh. The transaction is valued at approximately $507 million.
M&A Insights
Based on deal dataIntegration 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