NASDAQ$AMAL
Amalgamated Financial Corp · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Second quarter financial results were announced, with immediate liquidity coverage at 183% and a Common Equity Tier 1 Capital Ratio of 12.51%.
Amalgamated Financial Corp. reported a net income of $21.6 million, or $0.70 per diluted share, for the second quarter of 2023, compared to $21.3 million, or $0.69 per diluted share, for the first quarter of 2023. Total deposits decreased to $6.9 billion, while loans receivable increased to $4.3 billion.
- Net income reached $21.6 million, or $0.70 per diluted share.
- Core net income was $22.0 million, or $0.72 per diluted share.
- Total deposits decreased to $6.9 billion, including a decline in Brokered CD utilization.
- Loans receivable increased to $4.3 billion.
Headline financials
Revenue & EPS history
Amalgamated Financial · Revenue · Quarterly
$70.9M
Revenue by segment
Amalgamated Financial · $8.29M total across 5 segments · Q1 2023
- Trust Fees$3.93M—47.4%
- Deposit Fees$2.46M—29.6%
- Other Income$973K—11.7%
- BOLI Income$781K—9.4%
- Equity Inv. Income$153K—1.8%
Forward guidance
The company expects to continue repurchasing shares through its common stock share repurchase program, with $23.5 million of remaining capacity. The timing and exact amount of stock repurchase activity will be informed by economic and regulatory considerations as well as Amalgamated's overall position, earnings outlook, and capital deployment priorities.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.8%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+3.1%
Avg return
30 days after
59%
19 / 32 earnings
Positive
+12.4%
Q3 2023
Best reaction
-7.7%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.3% | -2.7% | -2.4% | |
| Q4 2025 | +6.9% | +5.9% | +12.3% | |
| Q3 2025 | +3.0% | +4.4% | +8.0% | |
| Q2 2025 | -0.9% | -4.4% | -4.1% | |
| Q1 2025 | -1.4% | +2.3% | +5.2% | |
| Q4 2024 | -4.9% | -7.0% | -11.1% | |
| Q3 2024 | -0.6% | +0.0% | +7.4% | |
| Q2 2024 | +1.0% | +1.0% | +1.9% | |
| Q1 2024 | +2.6% | +2.3% | +5.5% | |
| Q4 2023 | -1.5% | +3.5% | -11.0% | |
| Q3 2023 | +12.4% | +17.1% | +32.8% | |
| Q2 2023 | -2.6% | -4.7% | -15.0% | |
| Q1 2023 | -1.0% | -8.8% | -10.4% | |
| Q4 2022 | -2.5% | -1.0% | +1.0% | |
| Q3 2022 | +1.4% | +7.3% | +15.0% | |
| Q2 2022 | +5.5% | +6.2% | +4.1% | |
| Q1 2022 | +1.4% | +9.2% | +15.0% | |
| Q4 2021 | +0.3% | +3.5% | +7.0% | |
| Q3 2021 | +2.1% | +4.4% | -4.9% | |
| Q2 2021 | -1.3% | -0.6% | +1.2% | |
| Q1 2021 | +0.2% | -1.4% | -3.4% | |
| Q4 2020 | +6.5% | +7.8% | +27.5% | |
| Q3 2020 | -3.9% | -2.1% | +15.9% | |
| Q2 2020 | +10.3% | +2.1% | +7.3% | |
| Q1 2020 | -7.7% | -14.7% | -4.4% | |
| Q4 2019 | +3.1% | +8.5% | -7.8% | |
| Q3 2019 | +0.3% | +7.5% | +11.5% | |
| Q2 2019 | +1.1% | -1.7% | -5.9% | |
| Q1 2019 | +2.5% | +4.7% | +0.2% | |
| Q4 2018 | -2.8% | -3.3% | -8.9% | |
| Q3 2018 | +0.3% | +2.9% | +7.0% | |
| Q2 2018 | +1.5% | +3.8% | +1.8% | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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