Amalgamated Financial Corp. (AMAL) Financial Statements (2024 and earlier)

Company Profile

Business Address 275 SEVENTH AVE.
NEW YORK, NY 10001
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments63,540330,48538,769
Cash and cash equivalents63,540330,48538,769
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss   
Total current assets:63,540330,48538,769
Noncurrent Assets
Operating lease, right-of-use asset28,23633,11536,104
Property, plant and equipment9,85611,73512,977
Long-term investments and receivables8,3056,85611,735
Long-term investments8,3056,85611,735
Intangible assets, net (including goodwill)19,14621,23823,654
Goodwill12,93612,93612,936
Intangible assets, net (excluding goodwill)6,2108,30210,718
Deferred income tax assets62,50726,71936,079
Total noncurrent assets:128,05099,663120,549
Other undisclosed assets7,651,5346,647,7285,819,313
TOTAL ASSETS:7,843,1247,077,8765,978,631
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities7,334,1696,514,0015,442,810
Total liabilities:7,334,1696,514,0015,442,810
Equity
Equity, attributable to parent508,822563,742535,688
Common stock307311310
Treasury stock, value   
Additional paid in capital286,947297,975300,989
Accumulated other comprehensive income (loss)(108,707)5,40917,176
Retained earnings330,275260,047217,213
Equity, attributable to noncontrolling interest133133133
Total equity:508,955563,875535,821
TOTAL LIABILITIES AND EQUITY:7,843,1247,077,8765,978,631

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues143,588126,675147,032
Net investment income147,835124,139142,907
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
   (24,791)
Gross profit:143,588126,675122,241
Operating expenses(46,659)(47,463)(50,459)
Other operating income, net
(Noninterest Income, Other Operating Income)
1,7691,0152,042
Operating income:98,69880,22773,824
Nonoperating income3,7001,9812,603
Losses on sales of other real estate (168)(407)(482)
Bank owned life insurance income3,8682,3883,085
Interest and debt expense(18,649)(6,222)(10,479)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes (5,261)(4,005)
Income from continuing operations before equity method investments, income taxes:83,74970,72561,943
Income from equity method investments   7,411
Other undisclosed income from continuing operations before income taxes 24,415  
Income from continuing operations before income taxes:108,16470,72569,354
Income tax expense(26,687)(17,788)(15,755)
Income from continuing operations:81,47752,93753,599
Income before gain (loss) on sale of properties:52,93753,599
Other undisclosed net loss   (7,411)
Net income attributable to parent:81,47752,93746,188
Preferred stock dividends and other adjustments (22)(22)(22)
Net income available to common stockholders, diluted:81,45552,91546,166

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net income:81,47752,93746,188
Other comprehensive income (loss)(114,116)(11,767)13,951
Comprehensive income (loss), net of tax, attributable to parent:(32,639)41,17060,139

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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