Amalgamated Financial Q4 2024: Net income $24.5M; NIM expands to 3.59%; political deposits fall $992M

Amalgamated Financial Corp.

2024-FY EPS reported $3.44

Net income $24.5M ($0.79 EPS); core net income $28.0M ($0.90 EPS).
Net interest margin up 8 bps to 3.59%; net interest income $73.1M (+1.4% QoQ).
Total deposits down $414M to $7.2B; political deposits fell $992.3M to $969.6M post-election.
Net loans increased $126.4M to $4.6B (2.8% growth); PACE assessments up $17.9M to $1.2B.
CET1 ratio 13.90%; tangible book value $22.60 (+$0.31); $18.7M left in buyback program.

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