Amalgamated Bank ( (AMAL) ) has released its Q4 earnings. Here is a breakdown of the information Amalgamated Bank presented to its investors.
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Amalgamated Financial Corp., a commercial banking and financial services provider through its subsidiary Amalgamated Bank, operates in the finance sector with a focus on sustainable and ethical banking solutions. Established in 1923, the New York-based bank is a certified B Corporation and a member of the Global Alliance for Banking on Values.
In its latest earnings report for the fourth quarter of 2024, Amalgamated Financial Corp. demonstrated solid financial performance, highlighted by a net interest margin increase to 3.59% and a Common Equity Tier 1 Capital Ratio of 13.90%. The bank reported a net income of $24.5 million, or $0.79 per diluted share, despite a decrease from the previous quarter’s $27.9 million.
Key financial metrics for the quarter included a notable 2.8% increase in net loans receivable to $4.6 billion and a 1.4% rise in net interest income to $73.1 million. However, total deposits decreased by $414 million, mainly due to the conclusion of the election cycle, but the bank maintained a liquidity position of $3.2 billion. The report also highlighted a strong core return on average tangible common equity of 16.13%.
Looking ahead, Amalgamated Financial Corp. is positioned well to capitalize on future opportunities, as indicated by CEO Priscilla Sims Brown’s positive remarks about the bank’s performance during the election cycle. The bank remains committed to driving value for stakeholders while navigating the challenges and opportunities of the financial sector in 2025.
