Amalgamated Financial (US:AMAL)2026-01-22 11:26Financial Performance - Fourth Quarter 2025 net income was $26.6 million, or $0.88 per diluted share, compared to $26.8 million, or $0.88 per diluted share in the prior quarter[1]. - Full Year 2025 net income decreased by 1.9% to $104.4 million, or $3.41 per diluted share, while core net income increased by 3.6% to $111.6 million, or $3.64 per diluted share[2]. - Earnings per common share for the year were $3.44, slightly down from $3.48 in 2024[10]. - Basic earnings per share for Q4 2025 was $0.89, consistent with Q3 2025, and up from $0.80 in Q4 2024, reflecting a year-over-year increase of 11.25%[12]. - Core net income (non-GAAP) for Q4 2025 was $1.00 per share, compared to $0.91 in Q3 2025 and $0.91 in Q4 2024, indicating a 10% increase year-over-year[12]. - Net income for the year ended December 31, 2025, was $104.4 million, compared to $106.4 million in 2024, showing a decrease of 1.9%[10]. Asset and Deposit Growth - Total on-balance sheet deposits increased by $768.6 million, or 10.7%, to $7.9 billion for the full year 2025[2]. - Total off-balance sheet deposits increased by $789.2 million, or 11.1%, to $1.1 billion in the fourth quarter[1]. - As of December 31, 2025, total assets were $8.9 billion, total net loans were $4.9 billion, and total deposits were $7.9 billion[5]. - Total assets increased to $8,869,836 thousand as of December 31, 2025, up from $8,256,892 thousand a year earlier, representing a growth of 7.4%[11]. - Total deposits as of December 31, 2025, reached $7,949,241,000, up from $7,769,969,000 in the same period of 2024, reflecting a growth of 2.3%[17]. Loan and Credit Quality - Net loans receivable increased by $167.4 million, or 3.5%, to $4.9 billion in the fourth quarter, with commercial and industrial loans increasing by $60.9 million[4]. - Nonperforming assets totaled $28.7 million, or 0.32% of total assets, an increase from $23.0 million, or 0.26% in the prior quarter[4]. - Nonperforming assets totaled $28,651,000 as of December 31, 2025, compared to $25,870,000 a year earlier, indicating a rise of 6.9%[18]. - Criticized and classified loans amounted to $109,486,000, representing 2.21% of total loans as of December 31, 2025, up from 2.06% in the previous year[19]. - Nonaccrual loans to total loans ratio increased to 0.56% as of December 31, 2025, compared to 0.45% a year earlier, indicating a slight deterioration in asset quality[13]. Income and Expense Management - For the year ended December 31, 2025, net interest income was $297.8 million, an increase from $282.4 million in 2024, representing a growth of 5.0%[10]. - Non-interest income for the year was $30.9 million, down from $33.2 million in 2024, reflecting a decrease of 6.9%[10]. - Total non-interest expense for the year was $172.2 million, an increase from $159.8 million in 2024, representing an increase of 7.7%[10]. - The provision for credit losses for the year was $16.3 million, compared to $10.3 million in 2024, indicating an increase of 58.5%[10]. - The efficiency ratio for Q4 2025 was 54.46%, compared to 52.83% in Q4 2024, indicating a decline in operational efficiency[13]. Capital and Liquidity - The Common Equity Tier 1 Capital ratio was 14.26% as of December 31, 2025, compared to 14.21% in the prior quarter[4]. - Total stockholders' equity rose to $794,464 thousand as of December 31, 2025, up from $707,654 thousand a year earlier, marking an increase of 12.25%[11]. - The liquidity coverage ratio for uninsured deposits was 102.85% as of December 31, 2025, indicating strong liquidity management[13]. Market Outlook - The company anticipates potential challenges in the banking industry and economic conditions that may impact future performance[8].