Amalgamated Financial Corp.

Listed Company

AMALCIK 0001823608NasdaqAcceleratedState Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$104.45M

Total Assets

$8.87B

Equity

$794.46M

Shares Out

29.83M

Op. Cash Flow

$135.78M

+ 13F Filer

Business

Amalgamated Financial Corp. operates as a banking organization offering a range of financial services. It provides deposit-taking services and a variety of lending products, including commercial and consumer loans, mortgage loans, and loans held for sale, and it invests in securities and Property Assessed Clean Energy (PACE) assessments. Its key activities include commercial banking and mortgage lending alongside securities investment and asset-liability management. The company distributes products through its deposit and lending channels, loan sales into the secondary market, and institutional investment and treasury markets.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans	241	215	191	146	123
Securities	176	177	161	111	57
Interest-bearing deposits in banks	5	9	6	2	651,000
Total interest and dividend income	422	401	358	258	181
Deposits	122	113	81	11	6
Borrowed funds	3	5	16	8	399,000
Total interest expense	124	119	97	19	—
NET INTEREST INCOME	298	282	261	240	174
Provision for credit losses	16	10	15	15	−287,000
Net interest income after provision for credit losses	281	272	247	225	175
Trust Department fees	16	15	15	14	13
Service charges on deposit accounts	18	32	11	11	9
Bank-owned life insurance income	3	2	3	4	2
Losses on sale of securities and other assets, net	−3	−10	−7	−4	649,000
Gain (loss) on sale of loans and changes in fair value on loans held-for-sale, net	−3	−8	32,000	−610,000	2
Equity method investments income (loss)	−2	−831,000	5	−3	150,000
Other income	2	2	3	2	1
Total non-interest income	31	33	29	24	28
Compensation and employee benefits	99	94	86	75	70
Occupancy and depreciation	13	13	14	14	14
Professional fees	14	10	10	10	13
Technology	24	20	18	18	16
Office maintenance and depreciation	2	2	3	3	3
Amortization of intangible assets	574,000	730,000	888,000	1	1
Advertising and promotion	2	4	4	4	3
Federal deposit insurance premiums	4	4	4	3	3
Other expense	13	13	13	13	9
Total non-interest expense	172	160	151	141	132
Income before income taxes	140	146	125	108	71
Income tax expense	36	39	37	27	18
Net income	104	106	88	81	53
Earnings per common share - basic (in dollars per share)	3.44	3.48	2.88	2.64	1.7
Earnings per common share - diluted (in dollars per share)	3.41	3.44	2.86	2.61	1.68

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	5	4	3	5	9
Interest-bearing deposits in banks	287	57	88	58	322
Total cash and cash equivalents	291	61	91	64	330
Available for sale, at fair value	1,784	1,629	1,483	1,812	2,113
Held-to-maturity, at amortized cost	1,554	1,586	1,697	1,541	—
Loans held for sale	3	38	2	8	3
Loans receivable, net of deferred loan origination fees and costs	4,957	4,673	4,411	4,106	3,312
Allowance for credit losses	−58	−60	−66	−45	−36
Loans receivable, net	4,900	4,613	4,346	4,061	3,276
Resell agreements	49	24	50	26	229
"Federal Home Loan Bank of New York (""FHLBNY"") stock, at cost"	5	16	4	30	4
Accrued interest receivable	65	61	55	41	29
Premises and equipment, net	5	6	8	10	12
Bank-owned life insurance	109	108	106	106	107
Right-of-use lease asset	10	14	21	28	33
Deferred tax asset, net	31	42	57	63	27
Goodwill	13	13	13	13	13
Intangible assets, net	913,000	1	2	3	4
Equity method investments	8	8	13	8	7
Other assets	44	36	25	30	46
Total assets	8,870	8,257	7,972	7,843	7,078
Deposits	7,949	7,181	7,012	6,595	6,356
Borrowings	70	314	305	580	—
Operating leases	12	20	31	41	48
Other liabilities	44	34	39	41	26
Total liabilities	8,075	7,549	7,387	7,334	6,514
Common stock, par value $0.01 per share (70,000,000 shares authorized; 31,045,377 and 30,809,484 shares issued, respectively, and 29,818,424 and 30,670,982 shares outstanding, respectively)	312,000	308,000	307,000	307,000	311,000
Additional paid-in capital	294	289	288	287	298
Retained earnings	567	480	388	330	260
Accumulated other comprehensive loss, net of income taxes	−32	−59	−86	−109	5
Treasury stock, at cost (1,226,953 and 138,502 shares, respectively)	−35	−3	−5	0	—
Total stockholders' equity	794	708	585	509	564
Total liabilities and stockholders equity	8,870	8,257	7,972	7,843	7,078

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	6	5	6	9	4
Deferred income tax expense	2	5	4	14	7
Stock-based compensation expense	7	6	5	3	2
Net (income) loss from equity method investments	2	831,000	−5	3	−150,000
Net gain on death benefits of bank-owned life insurance	−562,000	0	−613,000	−2	−266,000
Net gain on repurchase of subordinated debt	0	−1	−1	−617,000	0
Proceeds from sales of loans held for sale	29	22	18	28	124
Originations of loans held for sale	−30	−22	−15	−8	−113
Increase in cash surrender value of bank-owned life insurance	−3	−2	−2	−2	−2
Increase in accrued interest receivable	−4	−6	−14	−13	—
Decrease (increase) in other assets	−856,000	−2	12	19	7
Increase (decrease) in other liabilities	778,000	−16	181,000	−6	−11
Net cash provided by operating activities	136	124	117	147	71
Net increase in loans	−342	−360	−317	−826	168
Proceeds from sales of loans	73	37	0	0	0
Purchase of securities available for sale	−965	−825	−116	−679	−1,221
Purchase of securities held-to-maturity	−158	−92	−264	−585	−473
Proceeds from sales of securities available for sale	365	394	285	250	111
Maturities, principal payments and redemptions of securities available for sale	478	311	168	326	508
Maturities, principal payments and redemptions of securities held-to-maturity	191	204	109	139	120
Decrease (increase) in resell agreements	−25	26	−24	203	−74
Decrease (increase) in equity method investments	−6	2	−757,000	−7	—
Decrease (increase) in FHLBNY stock, net	11	−11	25	−26	214,000
Purchases of premises and equipment, net	−1	−2	−1	−2	−2
Proceeds from redemption of bank-owned life insurance	2	0	3	4	1
Proceeds from sale of owned assets	46,000	0	0	0	0
Net cash used in investing activities	−378	−316	−134	−1,202	−865
Net increase in deposits	769	169	417	239	1,018
Increase (decrease) in other borrowings, net	−245	16	−346	580	0
Repurchase of subordinated debt	0	−6	−6	−6	84
Common stock issued under Equity Program	1	789,000	804,000	665,000	0
Redemption of AREMCO class B shares	0	−152,000	0	0	—
Repurchase of common stock	−32	−1	−8	−12	−3
Dividends paid on common stock	−17	−14	−12	−11	−10
Payments related to repurchase of common stock for equity awards	−3	−2	−1	−2	−2
Net cash provided by financing activities	473	162	44	788	1,087
Increase (decrease) in cash, cash equivalents, and restricted cash	230	−30	27	−267	292
Interest paid during the year	124	129	86	18	6
Right-of-use assets obtained in exchange for lease liabilities	3	560,000	0	2	0
Loans transferred from held-for-sale	2	0	5	25	1
Loans transferred to held-for-sale	43	82	4	—	—
Cumulative change due to adoption of ASU No. 2016-13	0	0	18	0	0

Filings

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Holdings (13F)

Portfolio as of 2026-01-14 · 3,002 positions

Reported AUM

$12.59B

Holdings

3.0K

Top sector

$12.59B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$12.59B	100.0%

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