Finance | Insurance 2023: JOHN C. ASBURY

CEO, ATLANTIC UNION BANKSHARES, RICHMOND

Published August 30, 2023 by Virginia Business

Discovering an affinity for banking during a summer job while still in college, Asbury began his 30-year-plus career as a commercial credit officer at Wachovia Bank & Trust. He would serve in a variety of executive roles, including as president and CEO at New Mexico’s First National Bank of Santa Fe, before landing in his present job as head of Virginia’s largest community bank. With 109 branches, Atlantic Union Bank reported $20.6 billion in assets and $15.7 billion in deposits as of June 30.

In January, Atlantic Union Bankshares, the bank’s Richmond-based holding company, transferred the listing of its common stock and depositary shares from the Nasdaq to the New York Stock Exchange. In July, Atlantic Union announced it would acquire Danville-based American National Bankshares, the holding company of American National Bank and Trust, forming a bank with total assets of $23.7 billion as of June 30.

 Vice chair of the American Bankers Association, Asbury is a Virginia Port Authority commissioner and serves on the boards of the Greater Richmond Partnership and Virginia Learns, which he also chairs. Asbury graduated from Virginia Tech and earned his MBA from William & Mary.

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