Amalgamated Financial Corp. (AMAL)

Amalgamated Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	215.38	191.3	145.65	123.32	141.98
Interest Income on Investments	185.92	166.78	112.84	57.21	48.51
Total Interest Income	401.3	358.08	258.49	180.53	190.5
Interest Paid on Deposits	113.46	81.12	11.06	5.82	10.45
Interest Paid on Borrowings	5.41	15.64	7.59	0.4	0.03
Total Interest Expense	118.87	96.77	18.65	6.22	10.48
Net Interest Income	282.43	261.31	239.84	174.3	180.02
Net Interest Income Growth (YoY)	8.08%	8.95%	37.60%	-3.17%	8.03%
Trust Income	15.19	15.18	14.45	13.35	15.22
Gain (Loss) on Sale of Investments	-9.7	-7.39	-3.62	0.65	1.6
Gain (Loss) on Sale of Equity Investments	-0.83	4.93	-2.77	0.15	7.41
Other Non-Interest Income	3.5	4.19	5.02	3.4	5.13
Total Non-Interest Income	32.14	27.94	23.3	28.39	40.6
Non-Interest Income Growth (YoY)	15.05%	19.91%	-17.94%	-30.08%	39.05%
Revenues Before Loan Losses	314.57	289.25	263.14	202.69	220.62
Provision for Loan Losses	10.28	14.67	15	-0.29	24.79
Revenue	304.29	274.58	248.14	202.98	195.83
Revenue Growth (YoY)	10.82%	10.66%	22.25%	3.65%	1.99%
Salaries and Employee Benefits	93.29	81.09	72.03	68.05	67.04
Occupancy Expenses	13.08	6.39	6.51	14.02	23.04
Federal Deposit Insurance	3.72	4.02	3.23	2.53	3.15
Amortization of Goodwill & Intangibles	0.73	0.89	1.05	1.21	1.37
Selling, General & Administrative	35.96	46.3	44.8	37.09	31.75
Other Non-Interest Expense	12.52	12.57	12.96	9.36	7.54
Total Non-Interest Expense	159.3	151.25	140.57	132.26	133.89
EBT Excluding Unusual Items	144.99	123.33	107.56	70.73	61.94
Other Unusual Items	0.6	1.4	0.6	-	-
Pretax Income	145.59	124.73	108.16	70.73	61.94
Income Tax Expense	39.16	36.75	26.69	17.79	15.76
Net Income	106.43	87.98	81.48	52.94	46.19
Preferred Dividends & Other Adjustments	-	-	0.02	0.02	0.02
Net Income to Common	106.43	87.98	81.46	52.92	46.17
Net Income Growth	20.98%	7.98%	53.91%	14.61%	-2.15%
Basic Shares Outstanding	31	31	31	31	31
Diluted Shares Outstanding	31	31	31	32	31
Shares Change (YoY)	0.46%	-1.31%	-1.01%	0.91%	-3.03%
EPS (Basic)	3.48	2.88	2.64	1.70	1.48
EPS (Diluted)	3.44	2.86	2.61	1.68	1.48
EPS Growth	20.28%	9.58%	55.36%	13.51%	0.68%
Dividend Per Share	0.480	0.400	0.360	0.320	0.320
Dividend Growth	20.00%	11.11%	12.50%	0%	23.08%
Effective Tax Rate	26.89%	29.47%	24.67%	25.15%	25.43%

Source: S&P Capital IQ. Banks template. Financial Sources.