Teton Capital, an investment firm led by David Sokol, is reportedly pushing for changes at Atlantic Union Bankshares in Richmond, Va.
Teton bought an undisclosed stake in the company, though it is below the 5% that would trigger a regulatory filing, according to Bloomberg.
The investment firm is reportedly pressing Atlantic Union, which just bought Sandy Spring Bancorp in Maryland, to cut operational costs, shrink its board, and adjust executive compensation to improve efficiency and shareholder value.