Amalgamated Financial Corp

For the period ended Dec 31, 2024. Filed Mar 6, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 6, 2025

AMAL$50.53+2.0%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1.

Consolidated Statements of Financial Condition(Dollars in thousands except for per share amounts)
	December 31,2024	December 31,2023
Assets
Cash and due from banks	$4,042	$2,856
Interest-bearing deposits in banks	56,707	87,714
Total cash and cash equivalents	60,749	90,570
Securities:
Available for sale, at fair value:
Traditional securities	1,477,047	1,429,739
Property Assessed Clean Energy ("PACE") assessments	152,011	53,303
	1,629,058	1,483,042
Held-to-maturity, at amortized cost:
Traditional securities, net of allowance for credit losses of $49 and $54, respectively	542,246	620,232
PACE assessments, net of allowance for credit losses of $655 and $667, respectively	1,043,959	1,076,602
	1,586,205	1,696,834
Loans held for sale	37,593	1,817
Loans receivable, net of deferred loan origination fees and costs	4,672,924	4,411,319
Allowance for credit losses	(60,086)	(65,691)
Loans receivable, net	4,612,838	4,345,628
Resell agreements	23,741	50,000
Federal Home Loan Bank of New York ("FHLBNY") stock, at cost	15,693	4,389
Accrued interest receivable	61,172	55,484
Premises and equipment, net	6,386	7,807
Bank-owned life insurance	108,026	105,528
Right-of-use lease asset	14,231	21,074
Deferred tax asset, net	42,437	56,603
Goodwill	12,936	12,936
Intangible assets, net	1,487	2,217
Equity method investments	8,482	13,024
Other assets	35,858	25,371
Total assets	$8,256,892	$7,972,324
Liabilities
Deposits	$7,180,605	$7,011,988
Borrowings	314,409	304,927
Operating leases	19,734	30,646
Other liabilities	34,490	39,399
Total liabilities	7,549,238	7,386,960
Stockholders’ equity
Common stock, par value $0.01 per share (70,000,000 shares authorized; 30,809,484 and 30,736,141 shares issued, respectively, and 30,670,982 and 30,428,359 shares outstanding, respectively)	308	307
Additional paid-in capital	288,656	288,232
Retained earnings	480,144	388,033
Accumulated other comprehensive loss, net of income taxes	(58,637)	(86,004)
Treasury stock, at cost (138,502 and 307,782 shares, respectively)	(2,817)	(5,337)
Total Amalgamated Financial Corp. stockholders' equity	707,654	585,231
Noncontrolling interests	—	133
Total stockholders' equity	707,654	585,364
Total liabilities and stockholders’ equity	$8,256,892	$7,972,324

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.