AMAL
Amalgamated Financial Corp.32.53
+0.27+0.84%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
FY Q4 '25
Q&A details NIM, PACE upside
Q&A drilled into NIM drivers, with new C&I/multifamily loans booking at 5.9-6% and 5.7% yields, plus repricing tailwinds from low-coupon runoffs. Management expects provisions roughly flat to 2025 due to persistent solar charge-offs, but manageable alongside earnings growth. C-PACE surged $27 million, now three-quarters of originations, with no concentration limits and plans to trade securities for more. Political deposits on track to peak pre-election, likely exceeding prior cycles; multifamily growth diversified beyond NYC. Steady outlook. Investors watch PACE momentum.
Last Quarter (Q3 '25)
FY Q3 '25
Reassures green funding, NYC rent risks
Q&A largely reaffirmed prepared remarks' upbeat tone, with management directly addressing analyst probes on key risks. Sam Brown dismissed DOE green funding cuts as irrelevant to Amalgamated's in-ground projects with locked financing, citing enduring energy demand and no pre-dev exposure. Priscilla Sims Brown ruled out slowing or exiting NYC rent-stabilized multifamily amid freeze talk, eyeing 18-24 month buffer and housing policy upsides. Jason detailed a multifamily nonaccrual reserve from appraisal-driven LTV shift. Debanking fears? Brushed off. Yields face 25-50bps Q4 drop on cuts. Risks handled crisply; watch credit metrics.
Key Stats
Market Cap
979.45MP/E (TTM)
9.80Basic EPS (TTM)
3.32Dividend Yield
0.02%Recent Filings
8-K
Record deposits, steady NIM
Amalgamated Financial Corp. reported Q4 2025 net income of $26.6 million, flat sequentially, while core net income rose to $30.0 million. Deposits surged with nearly $1 billion record growth including $789.2 million off-balance sheet; NIM expanded to 3.66%. Loans grew 3.5% to $4.9 billion. CET1 holds at 14.26%. Nonperformers ticked up to 0.32% of assets.
8-K
Renewables portfolio details
Amalgamated Financial Corp. disclosed its $829mm renewables lending portfolio on November 10, 2025, via investor presentation under Regulation FD. Dominated by project finance term loans (41.6%) and solar distributed (47.1%), it shows low risk with 96% pass-rated loans and just 2.8% criticized. Risks stay contained at 0.8% of total loans.
10-Q
Q3 FY2025 results
Amalgamated Financial Corp. posted Q3 net income of $26.8M, down 4% y/y yet steady q/q, with diluted EPS at $0.88 (reconciles to 30.4M shares). Net interest income climbed 6% y/y to $76.4M on 15bp higher asset yields (5.16%) and 46bp lower deposit costs (2.64%), fueled by loan growth while NIM edged up to 3.60%. Provision rose to $5.3M from elevated charge-offs, but allowance covers 1.18% of loans. Deposits swelled 8% to $7.77B (cash $116M); borrowings dropped to $75M (FHLBNY $12M, subordinated $64M due 2031). Strong balance sheet. Deposit outflows remain a risk.
8-K
Q3 earnings up, margin expands
Amalgamated Financial Corp. posted Q3 net income of $26.8 million, up from $26.0 million last quarter, with net interest income jumping 4.9% to $76.4 million on a 3.60% margin. Deposits hit $7.8 billion; loans grew to $4.7 billion. Nonperforming assets plunged 34.6% to 0.26% of assets. Balance sheet stays rock solid.
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