Q1 net interest margin expanded 5 basis points to 3.49% from 3.44% in 4Q23. Tangible book value per share increased $0.99, or 5.3%, to $19.73. Q1 provision for credit losses was $1.6M vs. $3.8M in 4Q23. Common Equity Tier 1 Capital ratio was 13.68%, Total Risk-Based Capital ratio was 16.35%, and Tier-1 Leverage Capital ratio was 8.29%, vs. 12.98%, 15.64% and 8.07%, respectively, as of December 31, 2023. CEO Priscilla Sims Brown commented, “Our first quarter results show Amalgamated as a banking industry leader and we proved once again that our unique and valuable business model is well positioned to thrive in varying economic conditions. This clearly separates Amalgamated from our peers and affirms my incredible optimism for the future.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMAL:
- Amalgamated Financial raises quarterly dividend 20% to 12c per share
- CORRECTION: Amalgamated Financial Corp. Announces a 20% Quarterly Dividend Increase
- Amalgamated Financial increases quarterly dividend 50% to 15c per share
- Amalgamated Bank Announces Upcoming Quarterly Dividend
- Amalgamated Financial Corp. Announces a 50% Quarterly Dividend Increase
