Amalgamated Financial posts record Q3 net income of $36.4M, EPS $1.20; NIM 3.77%

Amalgamated Financial Corp.

Record net income of $36.4M, or $1.20 per diluted share; core net income $34.6M, or $1.14 per diluted share.
Record operating revenue $101.7M; net interest income rose 2.2% to record $87.9M; NIM slipped 1 bp to 3.77%.
On-balance-sheet deposits grew $256.0M, or 3.0%, to $8.7B; political deposits fell $76.5M, or 3.7%, to $2.0B.
Net commercial loans rose $93.5M, or 2.6%, to $3.7B; PACE assessments grew $53.0M, or 4.0%, to $1.4B.
Tangible book value per share $27.54; CET1 14.40%; core ROTCE 16.57%; repurchased ~137,000 shares; dividend $0.17/share.

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