v3.25.4

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract] |
CONDENSED BALANCE SHEET | Condensed financial information of Amalgamated Financial Corp. follows:
CONDENSED BALANCE SHEET
| December 31, 2025 |  | December 31, 2024
(in thousands) |  |  |
ASSETS |  |  |
Cash and cash equivalents | $ | 42,998 |  |  | $ | 49,688 |
Investment securities | 3,000 |  |  | — |
Investment in banking subsidiary | 812,710 |  |  | 721,911 |
Other assets | 595 |  |  | 449 |
Total assets | $ | 859,303 |  |  | $ | 772,048 |
LIABILITIES AND EQUITY |  |  |
Subordinated debt | $ | 63,787 |  |  | $ | 63,703 |
Accrued expense and other liabilities | 1,052 |  |  | 691 |
Stockholders' equity | 794,464 |  |  | 707,654 |
Total liabilities and stockholders' equity | $ | 859,303 |  |  | $ | 772,048 |
CONDENSED STATEMENTS OF INCOME |
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
(in thousands) |  |  |  |  |
Interest income | $ | 73 |  |  | $ | — |  |  | $ | — |
Dividends from subsidiaries | 50,000 |  |  | 40,000 |  |  | 60,000 |
Other income | — |  |  | 1,076 |  |  | 1,417 |
Equity in undistributed subsidiary income | 57,332 |  |  | 68,628 |  |  | 30,170 |
Interest expense | 2,174 |  |  | 2,370 |  |  | 2,719 |
Other expense | 1,827 |  |  | 1,702 |  |  | 1,669 |
Income before tax expense | 103,404 |  |  | 105,632 |  |  | 87,199 |
Income tax benefit | (1,043) |  |  | (802) |  |  | (779) |
Net income | $ | 104,447 |  |  | $ | 106,434 |  |  | $ | 87,978 |
Comprehensive income | $ | 130,996 |  |  | $ | 133,801 |  |  | $ | 110,681 |
CONDENSED STATEMENTS COMPREHENSIVE INCOME |
CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
(in thousands) |  |  |  |  |
Interest income | $ | 73 |  |  | $ | — |  |  | $ | — |
Dividends from subsidiaries | 50,000 |  |  | 40,000 |  |  | 60,000 |
Other income | — |  |  | 1,076 |  |  | 1,417 |
Equity in undistributed subsidiary income | 57,332 |  |  | 68,628 |  |  | 30,170 |
Interest expense | 2,174 |  |  | 2,370 |  |  | 2,719 |
Other expense | 1,827 |  |  | 1,702 |  |  | 1,669 |
Income before tax expense | 103,404 |  |  | 105,632 |  |  | 87,199 |
Income tax benefit | (1,043) |  |  | (802) |  |  | (779) |
Net income | $ | 104,447 |  |  | $ | 106,434 |  |  | $ | 87,978 |
Comprehensive income | $ | 130,996 |  |  | $ | 133,801 |  |  | $ | 110,681 |
CONDENSED STATEMENT OF CASH FLOWS |
CONDENSED STATEMENT OF CASH FLOWS
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
(in thousands) |  |  |  |  |
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |
Net income | $ | 104,447 |  |  | $ | 106,434 |  |  | $ | 87,978 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Equity in undistributed subsidiary income | (57,332) |  |  | (68,628) |  |  | (30,170) |
Net gain on repurchase of subordinated debt | — |  |  | (1,076) |  |  | (1,417) |
Net amortization on subordinated debt issuance cost | 101 |  |  | 158 |  |  | 302 |
Change in other assets | (359) |  |  | 27 |  |  | (755) |
Change in other liabilities | 344 |  |  | 85 |  |  | (4,286) |
Net cash provided by operating activities | 47,201 |  |  | 37,000 |  |  | 51,652 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |
Purchase of securities held-to-maturity | (3,000) |  |  | — |  |  | — |
Net cash used by investing activities | (3,000) |  |  | — |  |  | — |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |
Dividends paid on common stock | (17,203) |  |  | (14,234) |  |  | (12,333) |
Repurchase of common stock | (35,075) |  |  | (3,359) |  |  | (9,543) |
Repurchase of subordinated debt | — |  |  | (5,925) |  |  | (6,047) |
Common stock issued under Equity Programs | 1,387 |  |  | 789 |  |  | 804 |
Net cash used by financing activities | (50,891) |  |  | (22,729) |  |  | (27,119) |
Increase in cash and cash equivalents | (6,690) |  |  | 14,271 |  |  | 24,533 |
Cash and cash equivalents at beginning of year | 49,688 |  |  | 35,417 |  |  | 10,884 |
Cash and cash equivalents at end of year | $ | 42,998 |  |  | $ | 49,688 |  |  | $ | 35,417 |

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