Amalgamated Financial Corp. Reports Net Income of $21.3 Million for the First Quarter of 2023

Amalgamated Financial Corp.(AMAL), a leading financial institution, has announced its financial results for the first quarter of 2023. The company experienced a notable increase in net income and achieved significant revenue growth during this period.

Financial Statements

Consolidated Statements of Financial Condition

Amalgamated Financial Corp. reported total assets of $7.84 billion as of March 31, 2023, compared to $7.84 billion at the end of December 31, 2022. The company's cash and cash equivalents reached $130.9 million, showing a slight increase from the previous quarter. Securities held by the company were valued at $3.26 billion, while loans receivable, net of deferred loan origination costs, amounted to $4.13 billion.