Amalgamated Financial (US:AMAL) Globenewswire·2025-07-24 10:25Core Insights - Amalgamated Financial Corp. reported a net income of $26.0 million, or $0.84 per diluted share, for the second quarter of 2025, reflecting a slight increase from $25.0 million, or $0.81 per diluted share, in the prior quarter [6][7] - The Common Equity Tier 1 Capital Ratio stood at 14.13%, while the Tangible Book Value per Share increased to $24.33, marking a 3.5% rise from the previous quarter [21][22] Financial Performance - Core net income was $27.0 million, or $0.88 per diluted share, compared to $27.1 million, or $0.88 per diluted share, in the prior quarter [8] - Net interest income grew by $2.3 million, or 3.3%, to $72.9 million, driven by an increase in loan interest income and securities [9] - Non-interest income increased to $8.0 million from $6.4 million in the prior quarter, with core non-interest income rising to $9.3 million [12] Deposits and Loans - Total on-balance sheet deposits increased by $321.2 million, or 4.3%, to $7.7 billion, with political deposits rising by 13% to $1.2 billion [18] - Net loans receivable increased by $35.5 million, or 0.8%, to $4.7 billion, with significant growth in multifamily and commercial real estate loans [17] Capital and Returns - The Tier 1 leverage ratio remained constant at 9.22%, while the tangible common equity ratio decreased to 8.60% due to a larger balance sheet [21][22] - The company repurchased approximately 327,000 shares, totaling $9.7 million, with $30.3 million remaining under the share repurchase program [6] Balance Sheet Summary - Total assets reached $8.6 billion, a 4% increase from the previous quarter, with notable increases in securities and net loans receivable [15] - Stockholders' equity grew by $18.0 million during the quarter, primarily driven by net income and improvements in accumulated other comprehensive loss [21]