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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.
Revenue by Segment
Forward Guidance
No forward guidance was provided in the transcript.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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