Eugene Koysman — Barclays — Analyst

<strong>Eugene Koysman</strong> — <em>Barclays — Analyst</em>

That is fair. And may you help us perhaps you provide us with some color as to how your initiatives to pursue the Truist customers are progressing?

John C. AsburyPresident and Ceo

Perfectly reference, we’ll ask Maria Tedesco, President of Atlantic Union Bank to supply some commentary. We’ve a comprehensive set of initiatives. Now the timing of some of these changed a little. Particular guerrilla advertising strategies for branches that will be consolidated does not actually create a complete large amount of feeling at this time with time. Maria, do you wish to speak simply when it comes to advanced level task, forgive me, i simply stated it, Project Sundown for anyone that don’t understand it, is our formally key rule title. Therefore we are using the SunTrust BB&T interruption. You are hoped by me start to see the humor in Sundown.

Maria P. TedescoPresident of Atlantic Union Bank

Well, once again, we come across this as an opportunity that is multi-year. This might be — we have been thinking about a marathon occasion with initiatives to debate the couple that is next of. But most of that which you see us doing has become shutting the space of whom our kind of competitive set is precisely everything we’re doing. So those would be the short-term plans, but we come across this being a plan that is offensive. This disruption is known by us, we’re ground zero because of this event. And a sense is had by us of what is going to happen which is troublesome to clients, that may ensure it is opportunistic for all of us. So those initiatives without engaging in much detail is actually set against everything we believe to function as schedule of interruption. And literally every company has their plan by which become unpleasant and start to become opportunistic.

John C. AsburyPresident and Ceo

And acknowledging that this is certainly a general general public forum, we do not desire to show our hand way too much, but relax knowing, there is certainly a rather robust action plan, to Maria’s point, each type of company has an extremely targeted pair of initiatives, and I also would reiterate that is a multi-year interruption. This has started. This can play down for many years.

Maria P. TedescoPresident of Atlantic Union Bank

Yes. And I also think you will see most of the initiatives that individuals’ve also mentioned today on this call assistance us be a more powerful positioning that is competitive the marketplace, but undoubtedly individuals with certain product space.

John C. AsburyPresident and Ceo

As well as on the commercial part, we do discreetly track customers me, there is a list, and it’s growing that we have won coming out of BB&T or SunTrust, and trust. We are perhaps perhaps perhaps not gonna go into details, but we are having pretty success that is good away at that.

Eugene KoysmanBarclays — Analyst

That appears very good. Offered the quantity of technology initiatives you have discussed, could you share with us what exactly is your technology plan for the final year as well as 2020 and possibly assist us know how a lot of it, you’re investing to perform the lender versus innovate the lender?

John C. AsburyPresident and Ceo

Yes, I do not desire to answer the question that is former Eugene, when it comes to a lot of specificity on just what we are making use of for electronic strategy. In a few respects. There may be a buck expense problem right right here. But among the larger constraints for a mid-size bank like us candidly is certainly not a great deal the bucks, although that is important. It really is obtaining the topic matter experts offered to work the task which is the solitary biggest reasons why we do not might like to do a rather near-term purchase, because we are going to simply take this exact same people offline to exert effort on a merger transformation integration, and then we need them centered on laying this down. Rob, is it possible to — imagine if such a thing can you share when it comes to exactly how much do you consider we are shelling out for brand brand new — is supposed to be a portion that is relatively small.

Robert Michael GormanExecutive Vice President and Chief Financial Officer

Yes, i do believe incrementally you are most likely speaing frankly about why not a 10% enhance year-over-year from that which we’ve ordinarily used on that. Therefore incrementally, including all electronic opportunities in ranking Phonetic, all of the automation, the Zelles around the globe, the nCinos around the globe. Therefore I will say most likely good 10% escalation in our spending plan pertaining to technology.

John C. AsburyPresident and Ceo

After which beyond technology spending plan by itself you must think holistically. I am taking a look at Kelly Dakin now whom’s mind of Digital Strategy and Customer Enjoy. Kelly, just exactly how lots of people on your group now today?

Kelly DakinChief Digital and Chief Customer Enjoy Officer

There is certainly 17 people that help strategy that is digital another three that support consumer experience.

John C. AsburyPresident and Ceo

So when i obtained right right here it had been most likely 1.5 you have been right right here just below and how much you walked into year?

Kelly DakinChief Digital and Chief Customer Enjoy Officer

I stepped in, there clearly was about four individuals.

John C. AsburyPresident and Ceo

About four. Generally there you are going. So it is individuals also who’re focusing on these initiatives. And you may expect you’ll see regarding the electronic strategy part, that the concept would be to have really a quarterly launch routine. So there is certainly a strategy that is out for an extended, very long time, with regards to the schedule of things you should do, anything from constant improvements to the mobile banking suite of offerings, brand brand brand new item initiatives, a few of this should be modulated. When we had been in an increased price environment, honestly we would be doing a lot more than we are going to do at this time. But we will begin to see the items that need to done. I am sorry, Eugene there is probably that is much quality even as we’re prepared to share publicly.

Eugene KoysmanBarclays — Analyst

This is really very useful, many thanks quite definitely.

William P. CiminoSenior Vice President and Director of Investor Relations

Many thanks, Gene and many many many thanks everybody else for calling in today. Being a reminder, we are going to have replay available on our Investor site investors. Atlanticunionbank.com. We anticipate chatting with you the following month. Have day that is good.

Operator

Operator Closing Remarks

Duration: 67 mins

Phone individuals:

William P. CiminoSenior Vice President and Director of Investor Relations

John C. AsburyPresident and Ceo

Robert Michael GormanExecutive Vice President and Chief Financial Officer

Shawn E. O’BrienExecutive Vice President and Customer Banking Group Executive

David V. RingExecutive Vice President and Commercial Banking Group Executive

Maria P. TedescoPresident of Atlantic Union Bank

Kelly DakinChief Digital and Chief Customer Enjoy Officer

Casey Orr WhitmanPiper Sandler — Analyst

Catherine MealorKeefe Bruyette & Woods — Analyst

William WallaceRaymond James — Analyst

Brody PrestonStephens Inc — Analyst

Laurie HunsickerCompass Aim — Analyst

Eugene KoysmanBarclays — Analyst

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