EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2024

Under the two-class method, earnings available to common stockholders for the period are allocated between common stockholders and participating securities according to participation rights in undistributed earnings. Our time-based and performance-based restricted stock units are not considered participating securities as they do not receive dividend distributions until satisfaction of the related vesting requirements. As of March 31, 2024 and March 31, 2023, we had 21 thousand and 50 thousand anti-dilutive shares, respectively.

Following is a table setting forth the factors used in the earnings per share computation follow:



	Three Months Ended March 31,
	2024		2023
(In thousands, except per share amounts)
Net income attributable to Amalgamated Financial Corp.	$	27,249	$	21,338
Dividends paid on preferred stock	—		—
Income attributable to common stock	$	27,249	$	21,338
Weighted average common shares outstanding, basic	30,476		30,706
Basic earnings per common share	$	0.89	$	0.69

Income attributable to common stock	$	27,249	$	21,338
Weighted average common shares outstanding, basic	30,476		30,706
Incremental shares from assumed conversion of options and RSUs	261		233
Weighted average common shares outstanding, diluted	30,737		30,939
Diluted earnings per common share	$	0.89	$	0.69