Amalgamated Financial Corp. Reports Fourth Quarter 2023 Financial Results: $170.8 Million Deposit Growth Excluding Brokered CDs; Net Interest Margin Rises to 3.44%
Amalgamated Financial Corp. (AMAL)
Last amalgamated financial corp. earnings: 4/30 06:25 am
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Source: GlobeNewswire
NEW YORK, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (the “Company” or “Amalgamated”) (Nasdaq: AMAL), the holding company for Amalgamated Bank (the “Bank”), today announced financial results for the fourth quarter ended December 31, 2023. Fourth Quarter 2023 Highlights (on a linked quarter basis) Net income of $22.7 million, or $0.74 per diluted share, compared to $22.3 million, or $0.73 per diluted share.Core net income1 of $22.1 million, or $0.72 per diluted share, compared to $23.3 million, or $0.76 per diluted share.A tax adjustment of $3.3 million detracted $0.11 per diluted share from both GAAP and core net income. Deposits and Liquidity Total deposits increased $21.1 million, or 0.3%, to $7.0 billion including a $149.7 million decline in Brokered CDs.Excluding Brokered CDs, on-balance sheet deposits increased $170.8 million or 2.6% to $6.8 billion.Political deposits increased $236.1 million, or 24.8%, to $1.2 billion.Off-balance sheet deposits totaled $
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- Amalgamated Financial Corp. (NASDAQ: AMAL) had its "overweight" rating re-affirmed by analysts at Piper Sandler. They now have a $29.00 price target on the stock, up previously from $28.00.MarketBeat
AMAL
Earnings
- 4/25/24 - Beat
AMAL
Analyst Actions
- 4/4/24 - JP Morgan
AMAL
Sec Filings
- 4/30/24 - Form 4
- 4/25/24 - Form 8-K
- 4/24/24 - Form 8-K/A
- AMAL's page on the SEC website