XML 12 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 3,830 $ 2,856
Interest-bearing deposits in banks 151,374 87,714
Total cash and cash equivalents 155,204 90,570
Securities:    
Available for sale, at fair value 1,528,051 1,483,042
Held-to-maturity, at amortized cost 1,673,962 1,696,834
Loans held for sale 2,137 1,817
Loans receivable, net of deferred loan origination costs 4,423,780 4,411,319
Allowance for credit losses (64,400) (65,691)
Loans receivable, net 4,359,380 4,345,628
Resell agreements 131,242 50,000
Federal Home Loan Bank of New York ("FHLBNY") stock, at cost 4,603 4,389
Accrued interest receivable 53,436 55,484
Premises and equipment, net 7,128 7,807
Bank-owned life insurance 106,137 105,528
Right-of-use lease asset 19,797 21,074
Deferred tax asset, net 49,171 56,603
Goodwill 12,936 12,936
Intangible assets, net 2,034 2,217
Equity method investments 14,801 13,024
Other assets 16,663 25,371
Total assets 8,136,682 7,972,324
Liabilities    
Deposits 7,305,765 7,011,988
Subordinated debt, net 70,570 70,546
Other Borrowings 69,135 234,381
Operating leases 27,250 30,646
Other liabilities 47,024 39,399
Total liabilities 7,519,744 7,386,960
Stockholders’ equity    
Common stock, par value $0.01 per share (70,000,000 shares authorized; 30,736,141 and 30,736,141 shares issued, respectively, and 30,510,393 and 30,428,359 shares outstanding, respectively) 307 307
Additional paid-in capital 287,198 288,232
Retained earnings 412,190 388,033
Accumulated other comprehensive loss, net of income taxes (78,872) (86,004)
Treasury stock, at cost (225,748 and 307,782 shares, respectively) (4,018) (5,337)
Total Amalgamated Financial Corp. stockholders' equity 616,805 585,231
Noncontrolling interests 133 133
Total stockholders' equity 616,938 585,364
Total liabilities and stockholders’ equity 8,136,682 7,972,324
Traditional securities    
Securities:    
Available for sale, at fair value 1,445,793 1,429,739
Held-to-maturity, at amortized cost 616,172 620,232
Property Assessed Clean Energy ("PACE") assessments    
Securities:    
Available for sale, at fair value 82,258 53,303
Held-to-maturity, at amortized cost $ 1,057,790 $ 1,076,602