Amalgamated Bank Reports Third Quarter Earnings Beat on Revenue and EPS
Amalgamated Bank (AMAL) reported third-quarter financial results that exceeded analyst expectations. The bank posted a Non-GAAP earnings per share (EPS) of $1.14, surpassing estimates by $0.06, while total revenue reached $101.70 million, an 18.8% increase year-over-year and a beat of $3.51 million. Despite the top-line growth, the net interest margin saw a slight compression, decreasing by 1 basis point to 3.77%. However, net interest income reached a record high of $87.9 million, representing a 2.2% increase compared to the previous year.
Tickers: $AMAL
Topics: earnings beat net interest income net interest margin revenue growth