Amalgamated Financial Corp

News & Events zu Amalgamated Financial Corp (AMAL)

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AMAL-Events

10/22 06:30

Q3 Revenue Reaches $101.7M, Exceeding Consensus

Reports Q3 revenue $101.7M, consensus $98.19M. Net interest margin decreased by 1 basis point to 3.77%. Tangible book value per share was $27.54, common equity tier 1 was 14.40%. CEO Priscilla Sims Brown commented, "The story this quarter is not simply about delivering outstanding results. It is about demonstrating that the earnings power we have built is long-lasting and supported by multiple strengths across the bank."

7/23 06:30

Q2 Revenue $98.4M, Net Interest Margin Rises to 3.78%

Reports Q2 revenue $98.4M. Net interest margin increased 3 basis points to 3.78%. Tangible book value per share increased $0.88, or 3.3%, to $27.47. CEO Priscilla Sims Brown commented, "This quarter showcases the power of the franchise we have built. With the strongest balance sheet in our history and one of the most differentiated deposit franchises in banking, we are successfully converting balance sheet growth into record earnings, record profitability, and a scalable platform for future performance."

4/23 06:40

Q1 Revenue Reaches $93.4M, CEO Emphasizes Financial Strength

Reports Q1 revenue $93.4M vs. $58.2M last quarter. Net interest margin increased 9 basis points to 3.75%. Tangible book value per share increased 41c, or 1.6%, to $26.59. Tier 1 leverage ratio was 9.33% and Common Equity Tier 1 ratio was 14.20%. CEO Priscilla Sims Brown commented, "Overall, we delivered a very strong first quarter that underscores the strength of our balance sheet and purpose-driven model. We grew net revenue to $93.4M, expanded net interest margin 9 basis points to 3.75%, increased on-balance sheet deposits to $8.2B, and maintained strong Tier 1 capital at above 9.3%. Included in our results was an incremental $9.2M provision tied to a single-borrower multifamily relationship that moved to nonaccrual during the quarter. We believe the underlying collateral supports our position and we are aggressively pursuing resolution options to preserve and maximize value. We view this as an isolated event with one borrower, which does not change our performance outlook. With the momentum we saw in the quarter, we are focused on executing and delivering on our revenue and earnings targets over the balance of the year."

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