Loading...
•
Mar 31, 2024
Amalgamated Financial Q1 2024 Earnings Report
Amalgamated Financial Corp. reported strong first quarter results driven by stellar deposit growth and an increase in net interest margin.
Key Takeaways
Amalgamated Financial Corp. reported a net income of $27.2 million, or $0.89 per diluted share, for the first quarter of 2024. Total deposits increased by $293.8 million, and the net interest margin rose to 3.49%. The company's Common Equity Tier 1 Capital Ratio stood at 13.68%, and the Return on Average Assets was 1.36%.
Net income increased to $27.2 million, or $0.89 per diluted share.
Total deposits grew by $293.8 million, reaching $7.3 billion.
Net interest margin expanded by 5 basis points to 3.49%.
Political deposits increased by $250.4 million, totaling $1.4 billion.
Amalgamated Financial
Amalgamated Financial
Amalgamated Financial Revenue by Segment
Revenue by Segment
Trust Department fees Revenue
CapyFin.comService charges on deposit accounts Revenue
CapyFin.comBank-owned life insurance income Revenue
CapyFin.comEquity method investments income (loss) Revenue
CapyFin.comOther income Revenue
CapyFin.comLosses on sale of securities Revenue
CapyFin.comGain (loss) on sale of loans and changes in fair value on loans held-for-sale, net Revenue
CapyFin.com Forward Guidance
No forward guidance was provided in the transcript.