Amalgamated Financial Corp. delivered fourth-quarter earnings of $0.99 per share, exceeding the Zacks Consensus Estimate of $0.91 and improving on last year’s $0.90. This performance was driven by a mix of stable net interest income and disciplined expense management, marking the second consecutive quarter of year-over-year EPS growth and underscoring the bank’s ability to outpace market expectations despite industry headwinds.

During the quarter, Amalgamated recorded record deposit inflows totaling nearly $1.0 billion, representing a 7.5% increase from the linked quarter. This surge was fueled by strong demand for the bank’s digital deposit products and expanded client relationships in its corporate and nonprofit segments. The expanded deposit base further reduces reliance on wholesale funding, improving the company’s liquidity coverage ratio to 115%, up from 108% at the end of Q3.

Reported net income for Q4 stood at $26.6 million, or $0.88 per diluted share, closely matching the prior quarter’s $26.8 million and flat on a per-share basis. Core net income, which adjusts for one-time items, rose to $30.0 million, or $0.99 per diluted share, up from $29.2 million in Q3. The uptick in core results reflects continued growth in fee income—up 12% sequentially—as well as a 3% reduction in noninterest expenses driven by efficiency initiatives.

Amalgamated ended the period with a common equity tier 1 (CET1) capital ratio of 10.8%, up from 10.5% in the previous quarter, supported by retained earnings and a modest reduction in risk-weighted assets. The bank’s tangible book value per share rose to $24.50, reflecting the accumulation of earnings and minimal share repurchases. Management reiterated its commitment to maintaining capital levels above regulatory requirements while pursuing targeted growth in higher-margin lending portfolios.