Atlantic Union Bank (AUB), the largest regional banking company headquartered in the lower Mid-Atlantic, has announced a strategic expansion of its corporate offices in Henrico as part of its continued growth and commitment to the many individuals, families, and organizations across the communities it serves. The bank estimates they will invest $5.1 million to upgrade an existing two-story, 39,000-square-foot office building within Henrico’s dynamic, mixed-use Innsbrook corridor to accommodate 50 newly created corporate positions.
Founded in 1902, AUB has grown to hold $38 billion in assets, originate $30 billion in loans, and employ over 3,200 people—including over 460 employees based in Henrico. The bank is committed to inclusive economic growth, with $21 million in spending directed to SWAM-certified suppliers. AUB also fosters a culture of community support through philanthropic giving and an employee volunteer program, reinforcing its mission to be a responsible and engaged corporate citizen.
“Our growth in Henrico reflects more than just momentum,” said Duane Smith, chief enterprise services officer and chief of staff of Atlantic Union Bank. “It’s a commitment to being the kind of partner our communities deserve. We’re serious about our mission of exceeding customer expectations—not just with the products and services we offer, but with good jobs, meaningful investments, and a genuine desire to make a difference where we live and work.”
“Atlantic Union Bank isn’t just expanding its footprint; it’s investing in the people and future of Henrico,” said Three Chopt District Supervisor Misty D. Roundtree. “From its focus on inclusive procurement to its culture of volunteerism, AUB is helping fortify communities and elevate the quality of life for our residents.
“We’re thrilled that Atlantic Union Bank has chosen to continue growing in Henrico,” said Board of Supervisors Chair and Brookland District Supervisor Daniel J. Schmitt. “Their $5 million investment speaks volumes about the strength of our business environment and the talent of our workforce. This expansion brings high-quality jobs to our community and reinforces Henrico’s reputation as a premier destination for corporate services.”
Henrico’s business-friendly policies continue to attract high-impact investments like Atlantic Union Bank’s expansion. To advance its growth plans, AUB leveraged available incentives from Henrico Tomorrow, a comprehensive package of strategic, local resources focused on revitalizing underused office spaces. AUB’s expansion not only enhances Henrico’s office landscape but also fuels substantial economic growth and opportunity across the region.
To learn more about Henrico Tomorrow, visit henrico.com/target-sectors/corporate-and-regional-headquarters.
About the Henrico EDA
As enduring economic stewards for more than 50 years, the Henrico EDA is your single point of contact for business development and site selection services in Henrico. Our team of experts goes the extra mile in every initiative and interaction to ensure both companies and residents can enjoy the vibrant community that they deserve. The Henrico community is strategically located in the heart of the Eastern Seaboard, adjacent to Virginia’s capital city of Richmond. Learn more about our extensive inventory of commercial and industrial properties ideal for the advanced manufacturing, life sciences, and corporate services sectors when you visit Henrico.com, and sign up for Property Now and Henrico Now newsletters.
About Atlantic Union Bank
Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank had 129 branches located throughout Virginia and Maryland and portions of North Carolina as of December 31, 2024. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; Atlantic Union Financial Consultants, LLC, which provides brokerage services; and Union Insurance Group, LLC, which offers various lines of insurance products.
Contact:
Henrico Economic Development Authority
Anthony Romanello, Executive Director
804.501.7521
Anthony@henrico.com
Atlantic Union Bank
Beth Shivak, Head of Corporate Communications
804.327.5746
beth.shivak@atlanticunionbank.com
