NASDAQ$AMAL
Amalgamated Financial Corp · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Announced financial results for the fourth quarter ended December 31, 2021.
Amalgamated Financial Corp. reported a net income of $15.9 million, or $0.50 per diluted share for Q4 2021, compared to $13.8 million, or $0.44 per diluted share for Q4 2020. Total assets exceeded $7.0 billion for the first time and deposits increased to $6.4 billion. The company is focused on high single digit loan growth in 2022 and sustained profitability.
- Net income of $15.9 million, or $0.50 per diluted share, compared to $13.8 million, or $0.44 per diluted share for the fourth quarter of 2020.
- Total assets exceeded $7.0 billion for the first time.
- Deposits increased $131.8 million to $6.4 billion on a linked quarter basis.
- Net loans, not including PACE assessments, increased $189.9 million, or 6.2%, to $3.3 billion, on a linked quarter basis.
Headline financials
Revenue & EPS history
Amalgamated Financial · Revenue · Quarterly
$59.4M
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's immediate focus in 2022 is to add experienced bankers and underwriters who can help to grow the platform and accelerate growth in focus markets and segments. The acquisition of Amalgamated Bank of Chicago will provide market expansion into the Midwest and significant revenue and cost synergies.
Tailwinds
- Deliver meaningful loan growth.
- Recruited a talented and experienced leader for Commercial Real Estate business.
- Deposit franchise remains a competitive advantage.
- Momentum to accelerate growth and profitability into the year ahead.
- Acquisition of Amalgamated Bank of Chicago will provide market expansion into the Midwest.
Headwinds
- The acquisition does not close when expected or at all because conditions to closing are not satisfied on a timely basis or at all.
- Financial projections from the acquisition are not realized.
- Deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses
- Continuation of the historically low short-term interest rate environment
- Inability to maintain the historical growth rate of the loan portfolio
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 Q4 2021
+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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