First Quarter 2025 Earnings Presentation April 24, 2025 1 Safe Harbor Statements Amalgamated Financial Corp. FORWARD-LOOKING STATEMENTS Statements included in this presentation that are not historical in nature are intended to be, and are hereby identified as, forward-looking statements within the meaning of the Private Securities Litigation Reform Act, Section 21E of the Securities Exchange Act of 1934, as amended. Forward- looking statements generally can be identified through the use of forward-looking t ...

Financial Data and Key Metrics Changes - Net income for Q1 2025 was $25 million or $0.81 per diluted share, while core net income was $27.1 million or $0.88 per diluted share, reflecting the sustainability of earnings [24][25] - Core earnings per share was $0.88, supported by net interest income of $70.6 million, which was within the guidance range [12][24] - The tangible book value per share increased by 4% to $23.51, while core revenue per diluted share decreased by $0.10 to $2.57 [26] - The CET1 ratio improved by 43 basis points to 14.32%, indicating a strong capital position [28] Business Line Data and Key Metrics Changes - Total loans receivable increased by $7 million to $4.6 billion, driven by increases in multifamily and commercial industrial loans [38] - Political deposits grew by $103 million or 11% to $1.1 billion, consistent with historical patterns post-election [15][32] - Core non-interest income decreased to $9.1 million from $9.5 million, primarily due to lower commercial banking fees [42] Market Data and Key Metrics Changes - Total deposits increased by $446 million to $7.6 billion, with on-balance sheet deposits rising by 3.2% [31][32] - Non-interest-bearing deposits decreased to 39% of average ending deposits, while average cost of deposits increased by seven basis points to 159 basis points [33] Company Strategy and Development Direction - The company plans to maintain a conservative approach amid uncertain economic conditions, focusing on strong capital and liquidity [17][18] - A new $40 million share repurchase program was authorized, indicating a commitment to returning capital to shareholders [30][68] - The company is expanding its commercial PACE franchise, expecting C-PACE originations to ramp up to $15 to $20 million per quarter in the latter half of the year [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in revenue growth and margin expansion for the remainder of the year, despite modest declines in core earnings and revenue [13][14] - The company anticipates C&I loan growth to remain muted in Q2, with reacceleration expected in the latter half of the year [18] - Management highlighted the importance of maintaining a strong credit profile and higher liquidity levels due to potential impacts from federal funding reductions [17][18] Other Important Information - The company is planning a move to a new headquarters in New York City by mid-2026, aimed at attracting and retaining top talent [21][22] - Nonperforming assets totaled $33.9 million, representing an increase driven by commercial industrial nonaccrual loans [46] Q&A Session Summary Question: Details on the $8.3 million loan that went on nonaccrual - Management indicated that the loan is in the solar sector and has sufficient collateral value, allowing them to maintain reserve coverage [54][56] Question: Impact of funding for clean energy projects - Management confirmed that there is no observed decline in funding for clean energy projects, with a strong pipeline continuing [58][60] Question: Concerns about political challenges affecting the bank - Management emphasized their focus on core business growth and maintaining strong capital and liquidity to navigate potential challenges [64][66] Question: Update on the political deposit franchise outlook - Management reported strong deposit performance with 11% growth in political deposits, consistent with historical trends [77][78] Question: Utilization of off-balance sheet strategies - Management explained that off-balance sheet strategies will be used as appropriate to manage balance sheet growth and maintain net interest income [84][86] Question: Expectations for expenses and digital transformation projects - Management confirmed that expenses are expected to ramp up throughout the year, with a focus on digital transformation and hiring plans [91][92] Question: Tangible impacts from the new administration - Management stated that they have not seen tangible impacts on lending or deposits but are closely monitoring potential risks [96][99]

Amalgamated Financial (AMAL) came out with quarterly earnings of $0.88 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.83 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this bank would post earnings of $0.87 per share when it actually produced earnings of $0.90, delivering a surprise of 3.45%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Amalgamated Financial, whic ...

Amalgamated Financial Corp. Reports First Quarter 2025 Financial Results; $446 Million Total Deposit Growth; Strong Margin at 3.55% Common Equity Tier 1 Capital Ratio of 14.27% | Tangible Common Equity Ratio of 8.73% NEW YORK. April 24, 2025 - (GlobeNewswire) -- Amalgamated Financial Corp. (the "Company" or "Amalgamated") (Nasdaq: AMAL), the holding company for Amalgamated Bank (the "Bank"), today announced financial results for the first quarter ended March 31, 2025. First Quarter 2025 Highlights (on a lin ...

Common Equity Tier 1 Capital Ratio of 14.27% | Tangible Common Equity Ratio of 8.73%NEW YORK, April 24, 2025 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (the “Company” or “Amalgamated”) (Nasdaq: AMAL), the holding company for Amalgamated Bank (the “Bank”), today announced financial results for the first quarter ended March 31, 2025. First Quarter 2025 Highlights (on a linked quarter basis) Net income of $25.0 million, or $0.81 per diluted share, compared to $24.5 million, or $0.79 per diluted share.Core ...

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures ...

NEW YORK, April 14, 2025 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (“Amalgamated” or the “Company”) (Nasdaq: AMAL) today announced that its first quarter 2025 financial results will be released before market open on Thursday, April 24, 2025. The Company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss the financial results. Investors and analysts interested in participating in the call are invited to dial 1-877-407-9716 (international callers please dial 1-201-493-6779 ...

Core Insights - Amalgamated Bank successfully closed the first adjustable-rate financing under the Oklahoma County C-PACE Program for the Alley North Office development, utilizing Allectrify's FASTPACE Platform [1][4] Company Overview - Amalgamated Bank is a mission-driven full-service commercial bank based in New York, providing a range of banking products and services, including commercial and retail banking, investment management, and lending services [5] - Allectrify, PBC offers a platform that simplifies C-PACE financing for lenders and borrowers, enabling quick and cost-effective access to financing for various projects [6] Project Details - The Alley North Office development is a significant project in Oklahoma City's Alley North redevelopment district, featuring the first multi-story mass timber office building in the state [2] - The project will serve as the headquarters for C.H. Guernsey & Company, a diversified engineering and consulting firm, and is strategically located along a planned regional transit line [2] Financing and Sustainability - The C-PACE financing will fund a high-efficiency glazing system to enhance the building's energy efficiency, maximizing natural light while reducing heating and cooling energy demand [3] - The project emphasizes sustainability and incorporates human-centered design principles to promote occupant health and well-being [3] Industry Impact - This project marks the first adjustable-rate C-PACE financing in Oklahoma County, allowing for interest rate resets at predetermined intervals, which provides flexibility for borrowers [4]

Core Insights - Amalgamated Bank has successfully closed the first adjustable-rate financing under the Oklahoma County C-PACE Program for the Alley North Office development, utilizing Allectrify's FASTPACE Platform for C-PACE financing [1][4] Company Overview - Amalgamated Bank is a mission-driven full-service commercial bank based in New York, providing a range of banking products, investment management, and lending services since 1923, with a focus on sustainable companies and clean energy [5] - Allectrify, PBC offers a platform called FASTPACE that simplifies C-PACE financing for lenders and borrowers, enabling quick and cost-effective access to financing for projects of all sizes [6] Project Details - The Alley North Office development is a significant project in Oklahoma City's Alley North redevelopment district, featuring the first multi-story mass timber office building in the state, which will serve as the headquarters for C.H. Guernsey & Company [2] - The project emphasizes sustainability through the use of a high-efficiency glazing system that maximizes natural light and reduces energy demand, aligning with human-centered design principles [3] Financing Structure - The C-PACE financing will support long-term, competitive financing for commercial property owners focused on energy performance and water conservation, marking the first adjustable-rate structure in Oklahoma County [4]

Earnings of Amalgamated Financial Corp. (NASDAQ: AMAL ) will likely continue to grow this year because of an expected improvement in the asset mix, which will lift the net interest margin and consequently the bottom line. I’m expecting earnings to grow by 1.6% to $3.50Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opini ...