Amalgamated Financial Q1 net income $21.3M ($0.69 EPS); deposits up 6.8% to $7.0B, stable base

Amalgamated Financial Corp.

2023-Q1 EPS reported $0.69

Net income $21.3M ($0.69 diluted EPS), down from $24.8M ($0.80) in Q4 2022; core net income $23.0M ($0.74).
Total deposits rose $446.4M to $7.0B (6.8% linked quarter), but ex-Brokered CDs declined $74.3M (1.1%) to $6.4B.
Net interest income flat at $67.3M; net interest margin expanded 5 bps to 3.59%.
Total available liquidity within two days of $3.4B covers 79% of total uninsured deposits; uninsured deposits were 62% of total.
Tangible common equity ratio 6.43%; regulatory capital remains above 'well capitalized' standards.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Amalgamated Financial Corp. reported the first quarter ended March 31, 2023 results: net income $21.3 million, EPS $0.69 per diluted share.

Period: the first quarter ended March 31, 2023
Net income: $21.3 million
EPS: $0.69 per diluted share
Result: reported results

Exact text from the filing

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, 2023. First Quarter 2023 Highlights (on a linked quarter basis) • Net income of $21.3 million, or $0.69 per diluted share, compared to $24.8 million, or $0.80 per diluted share.

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Source: SEC EDGAR

accession 0001823608-23-000066

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