---
schema_version: "secwatch.filing_event.v1"
accession: "0001823608-24-000005"
form_type: "8-K"
ticker: "AMAL"
cik: "0001823608"
company_name: "Amalgamated Financial Corp."
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T18:28:19.049392+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Amalgamated Q4 net income $22.7M ($0.74 EPS); deposits ex-brokered CDs up $170.8M

## Summary
- Net income $22.7M, $0.74 diluted EPS; core net income $22.1M ($0.72).
- Total deposits $7.0B, up $21.1M; excluding brokered CDs, deposits grew $170.8M (2.6%).
- Political deposits surged $236.1M (24.8%) to $1.2B.
- Net interest margin expanded 15 bps to 3.44%; net interest income up 5.63% to $67.3M.
- CET1 ratio 12.98%; tangible common equity ratio 7.16%, fifth consecutive quarterly improvement.

## SEC filing metadata
- accession: 0001823608-24-000005
- form_type: 8-K
- ticker: AMAL
- cik: 0001823608
- company_name: Amalgamated Financial Corp.
- filed_at: 2024-01-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823608/000182360824000005/0001823608-24-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823608/000182360824000005/amal-20240125.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001823608-24-000005
- JSON: https://secwatch.observer/filing/0001823608-24-000005.json
- Plain text: https://secwatch.observer/filing/0001823608-24-000005.txt

## Key facts
- Earnings Releases
  Amalgamated Financial Corp. reported the fourth quarter and year ended December 31, 2023 results: net income Net income of $22.7 million, EPS $0.74 per diluted share.
  - Period: the fourth quarter and year ended December 31, 2023
  - Net income: Net income of $22.7 million
  - EPS: $0.74 per diluted share
  - Result: reported results
  source text: Amalgamated Financial Corp. Reports Fourth Quarter 2023 Financial Results: $170.8 Million Deposit Growth Excluding Brokered CDs; Net Interest Margin Rises to 3.44% Common Equity Tier 1 Capital Ratio of 12.98% | Return on Average Assets of 1.13% NEW YORK, January 25, 2024 – (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 fourth quarter ended December 31, 2023. Fourth Quarter 2023 Highlights (on a linked quarter basis) • Net income of $22.7 million, or $0.74 per diluted share, compared to $22.3 million, or $0.73 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823608/000182360824000005/0001823608-24-000005-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.