UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number: 001-40136 (Registrant's telephone number, including area code) Not Applicable (Former name, former address and former fiscal year, if changed sinc ...

Financial Performance - GAAP net income was $039 per diluted share, while core net income reached $041 per diluted share[7] - Pre-tax, pre-provision income stood at $131 million, compared to $230 million in the previous quarter[7] - The efficiency ratio was 7153%, with a core efficiency ratio of 6918%, compared to 5866% in 4Q20[7] Balance Sheet - Total deposits increased by $3814 million compared to 4Q20, driven by post-election rebound in political deposits and new relationships in core markets[7, 15] - Total loans decreased by $2245 million, primarily due to customer refinancing and a large loan payoff in C&I[7, 24] - Held-to-maturity securities increased by $368 million, reaching $5313 million[24] - Investment securities totaled $22 billion in book value, with a $1910 million increase in 1Q21 compared to 4Q20[26] Asset Quality - Loan deferrals decreased to $85 million, representing 03% of loans, compared to $413 million or 12% on 12/31/20[7] - Allowance for loan losses totaled $367 million in 1Q21, a decrease of $49 million compared to 4Q20[45] - Net interest income was $418 million, compared to $457 million in 4Q20[30]

Amalgamated Financial Corp. (NASDAQ:AMAL) Q1 2021 Earnings Conference Call April 22, 2021 10:00 AM ET Company Participants Drew LaBenne - Chief Financial Officer Lynne Fox - Board Chair and Interim President and Chief Executive Officer Jason Darby - Chief Accounting Officer Conference Call Participants Chris O'Connell - KBW Operator Good morning, ladies and gentlemen. Welcome to the Amalgamated Financial Corp. First Quarter 2021 Earnings Conference Call [Operator Instructions]. As a reminder, this conferenc ...

Amalgamated Bank (NASDAQ:AMAL) Q4 2020 Earnings Conference Call January 28, 2021 10:00 AM ET Company Participants Drew LaBenne - Chief Financial Officer Keith Mestrich - President & Chief Executive Officer Conference Call Participants Steven Alexopoulos - JPMorgan Brian Morton - Barclays Chris O'Connell - KBW Operator Good morning ladies and gentlemen and welcome to the Amalgamated Bank's Fourth Quarter and Full Year 2020 Earnings Conference Call. During today's presentation, all parties will be in a listen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number: (to be assigned) Amalgamated Financial Corp. (Exact name of Registrant as specified in its charter) Delaware 85-2757101 (State or other jurisd ...

Financial Data and Key Metrics Changes - Average deposits grew by $459 million during the quarter to $5.9 billion compared to the second quarter [12] - Total loans were $3.6 billion, a decrease from $3.7 billion at the end of the second quarter [21] - Net interest income for the third quarter was $45.2 million, an increase from $44.4 million in the linked quarter [23] - Non-interest income for the third quarter was $12.8 million, increasing from $8.7 million in the second quarter [25] - Non-performing assets totaled $80.6 million or 1.22% of total assets, an increase from $66.7 million at the end of 2019 [29] Business Line Data and Key Metrics Changes - Political deposits increased to $1.2 billion, up from $578 million at the end of 2019 [20] - Loan deferrals declined to $201 million, or 6% of the loan portfolio, down from 13% at the end of the second quarter [13][22] - The bank closed six branches, resulting in a one-time expense of $6.4 million, but expects annual expense benefits of approximately $4 million [15][27] Market Data and Key Metrics Changes - Average non-interest bearing deposits increased by $445 million from the prior quarter, representing 54% of average deposits at quarter end [19] - The cost of deposits decreased to 14 basis points, down from 20 basis points at the end of the second quarter [19] Company Strategy and Development Direction - The company continues to prioritize investments for growth and shareholder value, with a focus on organic growth opportunities [16][44] - The bank aims to maintain its position as a socially responsible institution, emphasizing its commitment to sustainability and social issues [9][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the bank's operational execution despite the challenging environment due to COVID-19 [12] - The bank is cautious about potential impacts from a second wave of COVID-related shutdowns but remains committed to monitoring its loan portfolio [13] Other Important Information - The bank received its first rating from Kroll, rated BBB+/BBB for senior and subordinated debt, indicating the strength of its franchise [16] - The bank's core return on tangible average common equity was 13.4% for the third quarter, compared to 11.4% for the same period in 2019 [30] Q&A Session Summary Question: What qualities is the board looking for in the new CEO? - The board is seeking a candidate with deep experience in banking and the ability to connect with the bank's niche market [34] Question: Can you clarify the projections for solar credit income? - The $1.8 million forecast is for a specific project stream, and additional projects will increase this number [36] Question: How much of the NIM pressure can be recovered? - There is potential to recover some of the 31 basis points of NIM pressure, but challenges remain due to low rates [40] Question: What are the capital priorities moving forward? - The first priority for capital is organic growth, with discussions on dividends occurring quarterly [42][44] Question: What is the outlook for PACE growth opportunities? - The bank expects to continue originating PACE assessments and sees strong opportunities for loan growth in renewable energy [48]