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Sep 30, 2024
Amalgamated Financial Q3 2024 Earnings Report
Reported record results, highlighted by margin expansion and strong return on average assets.
Key Takeaways
Amalgamated Financial Corp. announced record third quarter financial results with net income of $27.9 million, or $0.90 per diluted share. The company saw growth in deposits and loans, and an increase in net interest margin to 3.51%.
Net income of $27.9 million, or $0.90 per diluted share.
Total deposits increased $145.6 million, or 2.0%, to $7.6 billion.
Net loans receivable increased $78.0 million, or 1.8%, to $4.5 billion.
Net interest margin increased 5 basis points to 3.51%.
Amalgamated Financial
Amalgamated Financial
Forward Guidance
Amalgamated Financial Corp. remains positioned to achieve sustainable earnings and profitability.