Amalgamated Financial Corp.AMAL
| Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 |
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Net income | 46 | 53 | 81 |
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Depreciation and amortization | 6 | 4 | 4 |
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Amortization of intangible assets | 1 | 1 | 1 |
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Deferred income tax expense (benefit) | -0 | 7 | 14 |
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Provision for (recovery of) loan losses | - | - | 15 |
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Stock-based compensation expense | 2 | 2 | 3 |
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Amortization of Debt Discount (Premium) | 3 | 3 | 1 |
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Net amortization on securities | -2 | -4 | -4 |
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OTTI loss (gain) recognized in earnings | - | -0 | 0 |
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Net loss (income) from equity method investments | 7 | 0 | -3 |
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Net loss (gain) on sale of securities available for sale | 2 | 1 | -4 |
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Net loss (gain) on sale of loans | 3 | 2 | -1 |
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Net loss on sale of other real estate owned | -0 | -0 | -0 |
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Net gain on owned property held for sale | 1 | - | - |
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Net gain on redemption of bank-owned life insurance | 2 | 0 | 2 |
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Net gain on repurchase of subordinated debt | - | - | 1 |
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Proceeds from Sale of Loans Held-for-sale | 159 | 124 | 28 |
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Originations of loans held for sale | 166 | 113 | 8 |
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Increase in cash surrender value of bank-owned life insurance | 2 | 2 | 2 |
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Increase in accrued interest and dividends receivable | 5 | 5 | 13 |
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Decrease (increase) in other assets | -11 | -7 | -19 |
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Decrease in other liabilities | -4 | -11 | -6 |
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Net cash provided by operating activities | 66 | 71 | 147 |
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Net decrease (increase) in loans | 37 | -168 | 826 |
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Purchase of securities available for sale | 684 | 1,221 | 679 |
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Purchase of securities held-to-maturity | 256 | 473 | 585 |
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Proceeds from sales of securities available for sale | 95 | 111 | 250 |
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Maturities, principal payments and redemptions of securities available for sale | 279 | 508 | 326 |
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Maturities, principal payments and redemptions of securities held-to-maturity | 53 | 120 | 139 |
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Decrease (increase) in resell agreements | -155 | -74 | 203 |
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Increase in equity method investments | 31 | 6 | 7 |
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Purchase of bank-owned life insurance | 25 | - | - |
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Decrease (increase) of FHLBNY stock, net | -3 | -0 | 26 |
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Purchases of premises and equipment, net | 2 | 2 | 2 |
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Proceeds from Life Insurance Policy | 3 | 1 | 4 |
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Proceeds from sale of owned assets | 2 | - | - |
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Proceeds from Sale of Other Real Estate | 0 | 2 | 0 |
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Net cash used in investing activities | -755 | -865 | -1,202 |
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Net increase in deposits | 698 | 1,018 | 239 |
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Net increase (decrease) in FHLBNY advances | -75 | - | 580 |
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Net increase (decrease) in subordinated debt | - | 84 | -6 |
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Proceeds from Stock Plans | - | - | 1 |
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Redemption of AREMCO class B shares | 0 | - | - |
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Repurchase of shares | 7 | 3 | 12 |
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Dividends paid | 10 | 10 | 11 |
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Exercise of stock options, net of repurchases | -0 | -2 | -1 |
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Proceeds From Restricted Stock Unit Vesting, Net | - | -0 | -1 |
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Net cash provided by financing activities | 606 | 1,087 | 788 |
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Increase (decrease) in cash, cash equivalents, and restricted cash | -84 | 292 | -267 |
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Interest paid during the year | 11 | 6 | 18 |
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Income Taxes Paid, Net | 10 | 6 | 7 |
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Right-of-use assets obtained in exchange for lease liabilities | 1 | - | 2 |
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Loans transferred to held-for-sale | - | 1 | 25 |
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Loans transferred to other real estate owned | - | 3 | - |
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Purchase of securities available for sale, net not settled | - | - | 14 |
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Securities available for sale transferred to held-to-maturity | - | - | 260 |
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