Amalgamated Financial Corp. (AMAL)

Amalgamated Financial Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	208.91	191.3	145.65	123.32	141.98	140
Interest Income on Investments	185.79	166.78	112.84	57.21	48.51	45.96
Total Interest Income	394.7	358.08	258.49	180.53	190.5	185.95
Interest Paid on Deposits	110.19	81.12	11.06	5.82	10.45	14.46
Interest Paid on Borrowings	7.85	15.64	7.59	0.4	0.03	4.86
Total Interest Expense	118.04	96.77	18.65	6.22	10.48	19.32
Net Interest Income	276.66	261.31	239.84	174.3	180.02	166.64
Net Interest Income Growth (YoY)	5.86%	8.95%	37.60%	-3.17%	8.03%	11.28%
Trust Income	14.78	15.18	14.45	13.35	15.22	18.6
Gain (Loss) on Sale of Investments	-11.04	-7.39	-3.62	0.65	1.6	0.08
Gain (Loss) on Sale of Equity Investments	3.37	4.93	-2.77	0.15	7.41	-
Other Non-Interest Income	3.48	4.19	5.02	3.4	5.13	2.53
Total Non-Interest Income	36.43	27.94	23.3	28.39	40.6	29.2
Non-Interest Income Growth (YoY)	55.99%	19.91%	-17.94%	-30.08%	39.05%	3.12%
Revenues Before Loan Losses	313.09	289.25	263.14	202.69	220.62	195.84
Provision for Loan Losses	10.36	14.67	15	-0.29	24.79	3.84
Revenue	302.73	274.58	248.14	202.98	195.83	192
Revenue Growth (YoY)	12.39%	10.66%	22.25%	3.65%	1.99%	7.67%
Salaries and Employee Benefits	85.64	81.09	72.03	68.05	67.04	67.83
Occupancy Expenses	5.91	6.39	6.51	14.02	23.04	17.72
Federal Deposit Insurance	4	4.02	3.23	2.53	3.15	-
Amortization of Goodwill & Intangibles	0.77	0.89	1.05	1.21	1.37	1.37
Selling, General & Administrative	47.45	46.3	44.8	37.09	31.75	31.7
Other Non-Interest Expense	12.62	12.57	12.96	9.36	7.54	9.19
Total Non-Interest Expense	156.38	151.25	140.57	132.26	133.89	127.83
EBT Excluding Unusual Items	146.35	123.33	107.56	70.73	61.94	64.17
Other Unusual Items	1.4	1.4	0.6	-	-	-
Pretax Income	147.75	124.73	108.16	70.73	61.94	64.17
Income Tax Expense	43.11	36.75	26.69	17.79	15.76	16.97
Net Income	104.64	87.98	81.48	52.94	46.19	47.2
Preferred Dividends & Other Adjustments	-	-	0.02	0.02	0.02	0.02
Net Income to Common	104.64	87.98	81.46	52.92	46.17	47.18
Net Income Growth	16.21%	7.98%	53.91%	14.61%	-2.15%	5.71%
Basic Shares Outstanding	30	31	31	31	31	32
Diluted Shares Outstanding	31	31	31	32	31	32
Shares Change (YoY)	0.17%	-1.31%	-1.01%	0.91%	-3.03%	5.13%
EPS (Basic)	3.43	2.88	2.64	1.70	1.48	1.49
EPS (Diluted)	3.39	2.86	2.61	1.68	1.48	1.47
EPS Growth	16.46%	9.58%	55.36%	13.51%	0.68%	0.69%
Dividend Per Share	0.100	0.400	0.360	0.320	0.320	0.260
Dividend Growth	-75.00%	11.11%	12.50%	0%	23.08%	333.33%
Effective Tax Rate	29.18%	29.47%	24.67%	25.15%	25.43%	26.45%

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