The latest announcement is out from Amalgamated Bank ( (AMAL) ).
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Amalgamated Financial Corp. reported strong third-quarter 2024 results, with net income rising to $27.9 million, marking a solid increase in profitability. The bank’s net interest margin expanded to 3.51%, supported by a $78 million increase in net loans receivable and improved loan yields. Deposit growth was notable, with total deposits climbing by $145.6 million, and political deposits surged by 13% to $2 billion. The bank’s capital position strengthened, with tangible book value per share growing 27.9% year-over-year.
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