NEW YORK, April 14, 2025 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (“Amalgamated” or the “Company”) (Nasdaq: AMAL) today announced that its first quarter 2025 financial results will be released before market open on Thursday, April 24, 2025. The Company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779 ...

OKLAHOMA CITY, April 02, 2025 (GLOBE NEWSWIRE) -- Amalgamated Bank, a subsidiary of Amalgamated Financial Corp. (NASDAQ:AMAL), today announced the successful closing on the first adjustable-rate financing under the Oklahoma County C-PACE Program for the Alley North Office development, using Allectrify's FASTPACE Platform for C-PACE financing. The development is a marquee project in the Alley North redevelopment district, the site of Oklahoma City's historic "Automobile Alley." The building will be the first ...

OKLAHOMA CITY, April 02, 2025 (GLOBE NEWSWIRE) -- Amalgamated Bank, a subsidiary of Amalgamated Financial Corp. (Nasdaq: AMAL), today announced the successful closing on the first adjustable-rate financing under the Oklahoma County C-PACE Program for the Alley North Office development, using Allectrify’s FASTPACE Platform for C-PACE financing. The development is a marquee project in the Alley North redevelopment district, the site of Oklahoma City’s historic “Automobile Alley.” The building will be the firs ...

Earnings of Amalgamated Financial Corp. (NASDAQ: AMAL ) will likely continue to grow this year because of an expected improvement in the asset mix, which will lift the net interest margin and consequently the bottom line. I’m expecting earnings to grow by 1.6% to $3.50Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opini ...

Group 1: Enersys (ENS) - Enersys is engaged in manufacturing, marketing, and distribution of various industrial batteries and has a Zacks Rank 1 (Strong Buy) [1] - The Zacks Consensus Estimate for Enersys' current year earnings has increased by 7.2% over the last 60 days [1] - Enersys has a price-to-earnings ratio (P/E) of 9.56, significantly lower than the industry average of 17.20, and possesses a Value Score of A [2] Group 2: Amalgamated Financial (AMAL) - Amalgamated Financial is a full-service commercial bank and chartered trust company providing commercial banking and trust services nationally, also holding a Zacks Rank 1 [2] - The Zacks Consensus Estimate for Amalgamated Financial's current year earnings has increased by 4.9% over the last 60 days [2] - Amalgamated Financial has a price-to-earnings ratio (P/E) of 7.98, compared to the industry average of 9.30, and possesses a Value Score of B [3] Group 3: First Financial Corporation Indiana (THFF) - First Financial Corporation Indiana is a multi-bank holding company providing various financial products and services in several states, also holding a Zacks Rank 1 [4] - The Zacks Consensus Estimate for First Financial Corporation Indiana's current year earnings has increased by 7.1% over the last 60 days [4] - First Financial Corporation Indiana has a price-to-earnings ratio (P/E) of 8.96, lower than the industry average of 10.70, and possesses a Value Score of B [5]

Core Viewpoint - Amalgamated Financial Corp. has announced a new share repurchase authorization of up to $40 million, replacing the previous authorization which had approximately $18.7 million remaining as of December 31, 2024 [1][2]. Company Overview - Amalgamated Financial Corp. is a Delaware public benefit corporation and bank holding company, operating through its wholly-owned subsidiary, Amalgamated Bank, which is a full-service commercial bank based in New York [3]. - As of December 31, 2024, Amalgamated Bank reported total assets of $8.3 billion, total net loans of $4.6 billion, and total deposits of $7.2 billion [3]. - The trust business of Amalgamated Bank held $35.0 billion in assets under custody and $14.6 billion in assets under management as of December 31, 2024 [3]. Management Commentary - The President and CEO, Priscilla Sims Brown, indicated that the bank is experiencing momentum as political deposit balances are rebuilding post-election and the business production pipeline is growing [2]. - The CEO believes the current share price does not reflect the bank's momentum and future growth opportunities, making the new repurchase authorization timely [2]. Share Repurchase Program - The new share repurchase authorization does not have an expiration date and can be modified or discontinued at the company's discretion [2]. - The timing, number, and value of shares to be repurchased will be determined by the company's management based on various factors, including stock performance and market conditions [2].

Financial Performance - Net income for the year ended December 31, 2024, was $106.4 million, or $3.44 per average diluted share, compared to $88.0 million, or $2.86 per average diluted share, for the same period in 2023, reflecting an increase of $18.4 million[339]. - Net interest income increased by $21.1 million, contributing significantly to the overall revenue growth[339]. - Non-interest income for the year ended December 31, 2024, was $33.2 million, an increase of $3.9 million or 13.3% from $29.3 million in 2023[354]. - Non-interest expenses increased by $8.6 million, which included higher salaries and operational costs[339]. - The provision for income tax expense was $39.2 million in 2024, with an effective tax rate of 26.9%, down from 29.5% in 2023[360]. Loan Portfolio - Total loans, net of deferred origination fees and allowance for credit losses, increased to $4.61 billion as of December 31, 2024, up from $4.35 billion in 2023, representing a growth of 6%[376]. - The commercial loan portfolio comprised 63.3% of the total loan portfolio as of December 31, 2024, up from 57.5% in 2023[380]. - C&I loans totaled $1.18 billion, accounting for 25.2% of the total loan portfolio, with a year-over-year increase of 16.3%[380]. - Multifamily loans reached $1.35 billion, representing 28.9% of the total loan portfolio, with a growth of 17.7% from the previous year[382]. - Residential real estate lending loans totaled $1.31 billion, comprising 28.1% of the total loan portfolio, but decreased by 7.9% from $1.43 billion in 2023[384]. Credit Quality - The estimated allowance for credit losses (ACL) totaled $60.1 million, representing approximately 1.29% of total loans, net[199]. - The provision for credit losses decreased by $4.4 million, indicating improved credit quality[339]. - The allowance for credit losses decreased by $5.6 million to $60.1 million at December 31, 2024, from $65.7 million at December 31, 2023, with a ratio of allowance to total loans at 1.29%[394]. - Nonperforming assets totaled $25.9 million, or 0.31% of total assets at December 31, 2024, a decrease of $8.3 million from $34.2 million, or 0.43% at December 31, 2023[401]. - Total loan charge-offs for the year ended December 31, 2024, were $17,850 thousand, compared to $16,058 thousand for the previous year[394]. Deposits and Liquidity - Total on-balance sheet deposits amounted to $7.18 billion as of December 31, 2024, with labor unions contributing $1.99 billion (28%) and political campaigns contributing $969.6 million (14%) to the total[235]. - Total deposits increased to $7.18 billion at December 31, 2024, up from $7.01 billion at December 31, 2023, indicating growth in core deposits[408]. - Uninsured deposits decreased to $3.71 billion at December 31, 2024, from $4.04 billion at December 31, 2023, driven by customers moving excess funds into reciprocal deposit products[412]. - The company had $2.74 billion in cash and borrowing capacity, providing total liquidity of $3.18 billion, covering 86% of total uninsured deposits[418]. - The company maintains sufficient liquidity to meet capital and debt service obligations for 12 months under adverse conditions without support from subsidiaries or access to wholesale markets[414]. Regulatory and Compliance Risks - The company faces liquidity risk, which is essential for funding depositors' needs, repaying borrowings, and meeting other obligations[232]. - Regulatory requirements may impose more stringent capital standards, potentially restricting business activities and affecting profitability[239]. - Non-compliance with laws and regulations could result in fines and damage to reputation, adversely affecting business operations[258]. - The Community Reinvestment Act regulations, effective April 1, 2024, will increase compliance obligations for the company[264]. - The final rule from the CFPB regarding residential PACE financing will become effective on March 1, 2026, potentially increasing compliance costs and risks[210]. Market and Economic Conditions - The Federal Open Market Committee (FOMC) maintained short-term interest rates at a range of 4.25% to 4.50% and projected only two interest rate cuts in 2025[192]. - The company may experience net interest margin compression if interest rates on interest-earning assets do not increase in tandem with interest-bearing liabilities[191]. - The trust and investment management business is vulnerable to economic and market conditions, which can lead to declines in performance and investment management fees[211]. - The banking industry is highly competitive, with technology lowering barriers to entry, necessitating innovation to meet customer needs[249]. - The CFPB's new rule on Personal Financial Data Rights could increase competition and adversely affect the company's market position[250]. Employee and Labor Relations - As of December 31, 2024, the company had 429 employees, with approximately 21% represented by collective bargaining agreements[231]. - A new collective bargaining agreement was entered into on November 29, 2024, providing for a 3.5% wage increase per annum until June 30, 2026[231]. - Compensation and employee benefits increased by $8.0 million in 2024, driven by increased headcount and corporate incentive payments[359]. Investment and Securities - As of December 31, 2024, the fair value of the investment securities portfolio was approximately $3.18 billion[194]. - Total securities amounted to $2.63 billion with an estimated yield of 4.7%[375]. - Approximately 86% of non-agency securities carry AAA credit ratings, indicating a high-quality investment portfolio[375]. - Available-for-sale securities amounted to $1.63 billion at December 31, 2024, compared to $1.48 billion in 2023[365]. - Held-to-maturity securities decreased to $1.59 billion at December 31, 2024, down from $1.70 billion in 2023[366].

Jane Fraser, CEO of Citi, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 1, 2023.Bank shares rose Thursday after the Federal Reserve released parameters for its annual industry stress test showing smaller hypothetical shocks to the U.S. economy than in previous years.While still challenging, with U.S. joblessness jumping to 10% and a 33% drop in home prices, the 2025 exam has smaller spikes in unemployment and smaller declines in stock and real estate values than p ...

Financial Data and Key Metrics Changes - The company reported its Q4 2024 earnings, with specific financial metrics to be discussed in detail during the call [1][2] - Forward-looking statements were made regarding potential variances in actual results compared to expectations [5] Business Line Data and Key Metrics Changes - Specific details regarding the performance of various business lines were not provided in the available content [1] Market Data and Key Metrics Changes - No specific market data or key metrics changes were mentioned in the provided content [1] Company Strategy and Development Direction and Industry Competition - The company is expected to discuss its strategic direction and competitive positioning during the call, but specific details were not included in the available content [1][2] Management's Comments on Operating Environment and Future Outlook - Management indicated that forward-looking statements would be made, cautioning that actual results may differ from expectations [5] Other Important Information - A telephonic replay of the call will be available on the company's website, along with a slide deck to complement the discussion [4] Q&A Session All Questions and Answers Question: Availability of telephonic replay - The operator mentioned that a telephonic replay of the call would be available for an extended period [4]

Amalgamated Financial Corp. Fourth Quarter 2024 Earnings Presentation January 23, 2025 Statements included in this presentation that are not historical in nature are intended to be, and are hereby identified as, forward-looking statements within the meaning of the Private Securities Litigation Reform Act, Section 21E of the Securities Exchange Act of 1934, as amended. Forward- looking statements are not statements of historical or current fact nor are they assurances of future performance and generally can ...