Amalgamated Financial reports Q2 core EPS 85c, consensus 79c

Net interest margin was 3.46% for Q2, a decrease of 3 basis points from 3.49% in Q1. Reports Q2 Tier 1 leverage ratio of 8.42%, increasing 13 basis points, and Common Equity Tier 1 ratio of 13.48%. Tangible book value per share increased 88c, or 4.5%, to $20.61. Priscilla Sims Brown, President and Chief Executive Officer, commented, “Our second quarter financial results clearly demonstrate that Amalgamated is continuing its high performance across key metrics. We delivered outstanding deposit growth, strong returns, and a continuously growing, sustainable earnings base that will provide us with optionality as we look to further expand our franchise over the medium term.”