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Sep 30, 2022
Amalgamated Financial Q3 2022 Earnings Report
Reported record earnings for the third quarter of 2022.
Key Takeaways
Amalgamated Financial Corp. announced record financial results for the third quarter ended September 30, 2022, with net income of $22.9 million, or $0.74 per diluted share. Core net income, excluding the impact of solar tax equity investments, was $24.8 million, or $0.80 per diluted share. Average deposits increased by $191.1 million to $7.3 billion, and loans receivable increased by $220.2 million to $3.8 billion.
Record earnings of $22.9 million, or $0.74 per diluted share.
Core net income was $24.8 million, or $0.80 per diluted share, excluding the impact of solar tax equity investments.
Average deposits increased by $191.1 million, or 2.7%, to $7.3 billion.
Loans receivable, net of allowance and deferred fees and costs, increased $220.2 million, or 6.1%, to $3.8 billion.
Amalgamated Financial
Amalgamated Financial
Forward Guidance
The company anticipates accelerated runoff of political deposits in the fourth quarter related to the conclusion of the congressional elections.