Amalgamated Financial Corp. Reports Fourth Quarter 2025 Financial Results: Record Quarterly Deposit Growth of Nearly $1 Billion

Net Interest Margin Rises to 3.66% | Common Equity Tier 1 Capital Ratio of 14.26% NEW YORK--(BUSINESS WIRE)--Jan. 22, 2026-- Amalgamated Financial Corp. (the “Company” or “Amalgamated”) (Nasdaq: AMAL), the holding company for Amalgamated Bank (the “Bank”), today announced financial results for the fourth quarter and full year ended December 31, 2025. Fourth Quarter 2025 Highlights (on a linked quarter basis) Net income of $26.6 million, or $0.88 per diluted share, compared to $26.8 million, or $0.88 per diluted share.Core net income1 of $30.0 million, or $0.99 per diluted share, compared to $27.6 million, or $0.91 per diluted share. Deposits and Liquidity On-balance sheet deposits increased $179.2 million, or 2.3%, to $7.9 billion.Off-balance sheet deposits increased $789.2 million, or 11.1%, to $1.1 billion.Political deposits increased $286.9 million, or 19.9%, to $1.7 billion, comprising both on and off-balance sheet deposits.Average cost of deposits decreased 16 basis points to 151 basis points, where non-interest-bearing deposits comprised 41% of total deposits, up from 37% in the prior quarter.Cash and borrowing capacity totaled $4.3 billion (immediately available) plus unpledged securities (two-day availability) of $486.0 million for total liquidity within two-days of $4.7 billion (103% of total uninsured deposits). Margin, NII, and Assets Net interest margin expanded 6 basis points to 3.66%.Net interest income grew $1.4 million, or 1.8%, to $77.9 million.Net loans receivable increased $167.4 million, or 3.5%, to $4.9 billion.Net loans in growth mode (commercial and industrial, commercial real estate, and multifamily) grew $217.6 million, or 7.0%, to $3.3 billion.Sold $41.9 million of sub 3% coupon performing residential loans during the quarter.PACE assessments grew $37.7 million, or 3.0%, to $1.3 billion, including C-PACE growth of $27.4 million.Multifamily and commercial real estate loan portfolios totaled $2.0 billion and had a concentration of 214% to total risk based capital. Capital and Returns Tangible book value per share1 increased $0.87, or 3.4%, to $26.18.Tier 1 leverage ratio grew by 18 basis points to 9.36% and the Common Equity Tier 1 ratio was 14.26%.Tangible common equity1 ratio of 8.81%, with strong quarterly earnings offset by balance sheet growth.Core return on average tangible common equity1 of 15.41% and core return on average assets1 of 1.37%. Share Repurchase Repurchased approximately 309,000 shares during the quarter, through December 31, 2025, with $11.2 million in remaining capacity under the share repurchase program approved on March 10, 2025.Approximately 58,000 shares have been repurchased from January 1 through January 20, 2026. Full Year 2025 Highlights (from year end 2024) Net income of $104.4 million, or $3.41 per diluted share, compared to $106.4 million, or $3.44 per diluted share, a decrease of 1.9%.Core net income1 was $111.6 million, or $3.64 per diluted share, as compared to $107.8 million, or $3.48 per diluted share, an increase of 3.6%.Total on-balance sheet deposits increased by $768.6 million, or 10.7% to $7.9 billion.Total off-balance sheet deposits increased by $1.1 billion.Net loans receivable increased $286.8 million, or 6.2%, to $4.9 billion.Net loans in growth mode (commercial and industrial, commercial real estate, and multifamily) increased $403.4 million, or 13.7%.PACE assessments increased $84.6 million, or 7.1%, to $1.3 billion, including C-PACE growth of $59.0 million, or 22.0%, to $327.7 million.Net interest income increased $15.4 million, or 5.5%, to $297.8 million.Net interest margin expanded 8 basis points, or 2.3% to 3.59%Nonperforming assets were stable, increasing 1 basis point to $28.7 million, or 0.32% of total assets.Classified or criticized assets increased by 15 basis points to 2.21% of total loans.Tangible book value per share increased $3.58, or 15.8%, to $26.18 from $22.60.___________________________________ 1 Definitions are presented under “Non-GAAP Financial Measures”. Reconciliations of non-GAAP financial measures to the most comparable GAAP measure are set forth on the last page of the financial information accompanying this press release and may also be found on the Company’s website, www.amalgamatedbank.com. Priscilla Sims Brown, President and Chief Executive Officer, commented, “We had a record breaking quarter for deposit gathering, generating nearly $1 billion of new deposits across all of our customer segments. This demonstrates the mission-aligned, differentiated competitive advantage that only Amalgamated possesses. We now look forward to driving the next phase of Amalgamated’s growth, and building on this solid foundation.” Fourth Quarter Earnings Net income was $26.6 million, or $0.88 per diluted share, compared to $26.8 million, or $0.88 per diluted share, for the prior quarter. The $0.2 million decrease during the quarter was primarily driven by a $3.8 million loss on a pool sale of low-yielding residential loans, and an expected $2.8 million increase in non-interest expense. This was partially offset by a $1.5 million increase in ICS One Way Sell fee income from off-balance sheet deposits, a $1.4 million increase in net interest income, a $0.7 million decrease in losses on securities sales, as well as a $3.3 million decrease in income tax expense. Core net income1 was $30.0 million, or $0.99 per diluted share, compared to $27.6 million, or $0.91 per diluted share, for the prior quarter. As shown in the table below, a net loss of $2.7 million related to non-core income items, and $1.4 million of non-core expense items was excluded in the calculation of core net income in the fourth quarter. For additional details on each component item within the non-core income and expense figures listed below, please see the GAAP to Non-GAAP reconciliation included at the end of this document. (in millions) As of and for the Three Months Ended Core net income December 31, 2025 September 30, 2025 QoQ Change Net Income (GAAP) $ 26.6 $ 26.8 $ (0.2 ) Add: Non-core (income)/losses 2.7 0.8 1.9 Add: Non-core expense 1.5 0.3 1.2 Less: Tax on notable items (0.8 ) (0.3 ) (0.5 ) Core net income (non-GAAP) $ 30.0 $ 27.6 $ 2.4 Net interest income was $77.9 million compared to $76.4 million for the prior quarter. Loan interest income decreased $0.6 million, and loan yields decreased 11 basis points as expected, mainly as a result of an interest income recapture recognized in the third quarter. Adjusted loan yields rose modestly during the quarter by 1 basis point as average balances increased $60.8 million, partially offset by downward repricing due to Federal Reserve Bank rate cuts. Interest income on securities decreased $1.0 million driven by a 4 basis point decrease in securities yield related to interest rate resets. Interest expense on total interest-bearing deposits decreased $3.1 million driven primarily by a 14 basis point decrease in cost, paired with a decrease in the average balance of total interest-bearing deposits of $224.2 million. The decrease in cost was primarily related to movement of $789.2 million of ICS deposits off-balance sheet, as well as repricing on money market products and select non-time deposit accounts in tandem with the Federal Reserve Bank rate cuts. Non-interest bearing demand accounts increased $323.0 million. Net interest margin was 3.66%, an increase of 6 basis points from 3.60% in the prior quarter. The increase from the prior quarter was primarily due to a notable 322 basis point improvement in the ratio of non-interest bearing to interest-bearing deposits to 40.7%, as well as decreases in total deposit costs mentioned above. Additionally, income from prepayment penalties had a 4 basis point impact on net interest margin in the current quarter, compared to no impact in the prior quarter. Provision for credit losses totaled an expense of $5.5 million compared to an expense of $5.3 million in the prior quarter. The expense in the quarter was primarily driven by expected consumer charge-offs, an additional charge-offs related to a planned note sale on a non-performing multifamily loan, as well as increases to specific reserves on three related multifamily loans that moved to nonaccrual status during the quarter. Non-interest income was $7.3 million, compared to $9.2 million in the prior quarter. Excluding the non-core income and expense adjustments noted above, core non-interest income1 was $10.1 million, compared to $10.0 million in the prior quarter with commercial banking fees and income from the trust business improving modestly. Non-interest expense was $46.4 million, an increase of $2.8 million from the prior quarter. Core non-interest expense1 was $44.9 million, an increase of $1.5 million from the prior quarter. This was mainly driven by an expected $1.0 million increase in data processing expense related to the Bank’s continued investment in digital transformation development. Core efficiency ratio1 was 51.13% during the quarter, and remained within range of our guidance threshold of 52% throughout all of 2025. The provision for income tax expense was $6.6 million, compared to $9.9 million for prior quarter. The effective tax rate for the quarter was 19.9%, compared to 27.0% for the prior quarter. The decrease in the tax rate was primarily the result of the recognition of a $1.5 million tax credit, which also resulted in a YTD tax expense recapture of $1.0 million due to a lower annual effective tax rate. There were other discrete tax items which resulted in a net tax benefit, which also contributed to the lower effective tax rate for the quarter. Excluding these discrete items and the YTD tax expense recapture, the tax rate would have been 26.6%. Excluding the benefit of the tax credit recognition, core net income would have been $27.4 million, or $0.91 per diluted share. The tax credit recorded this quarter reflects a new tax planning strategy under which credits will be recognized directly through the tax provision, rather than through non‑interest income as in prior periods. As a result, historical tax credit recognition will no longer be classified as non-core due to immateriality, and credits recognized under the current strategy will be recorded as core, consistent with their treatment this quarter. Balance Sheet Quarterly Summary Total assets were $8.9 billion at December 31, 2025, a $186.9 million, or 2.1%, increase compared to $8.7 billion at September 30, 2025. Notable changes within individual balance sheet line items include a $175.7 million increase in cash and cash equivalents primarily related to deposit growth across all segments, and a $159.5 million decrease in securities primarily from maturities and paydowns to fund net loan growth of $167.4 million. For liabilities, on-balance sheet deposits increased by $179.3 million, but average deposits were flat in connection with the off-balance sheet strategy. Off-balance sheet deposits increased by $789.2 million in the quarter. Equity grew by $18.9 million. Total net loans receivable at December 31, 2025 were $4.9 billion, an increase of $167.4 million, or 3.5% for the quarter. The increase in loans was primarily driven by a $60.9 million increase in commercial and industrial loans and a $189.7 million increase in multifamily loans, partially offset by a $32.9 million decrease in the commercial real estate portfolio, our identified growth portfolios. Loans in non-growth mode decreased by $49.9 million, primarily due to a $10.4 million decrease in consumer solar loans from normal runoff, and a $39.6 million decrease in residential loans, primarily due to the noted loan pool sale. Total on-balance sheet deposits were $7.9 billion at December 31, 2025, an increase of $179.2 million, or 2.3%, during the quarter. Including accounts held off-balance sheet, deposits held by politically active customers, such as campaigns, PACs, advocacy-based organizations, and state and national party committees were $1.7 billion as of December 31, 2025, an increase of $286.9 million during the quarter. Non-interest-bearing deposits represented 40% of average total deposits and 41% of ending total deposits for the quarter, contributing to an average cost of total deposits of 151 basis points. Super-core deposits totaled approximately $4.5 billion, had a weighted average life of 17 years, and comprised 57% of total deposits. Total uninsured deposits were $4.6 billion, comprising 58% of total deposits. Nonperforming assets totaled $28.7 million, or 0.32% of period-end total assets, an increase of $5.7 million, compared with $23.0 million, or 0.26% of period-end total assets on a linked quarter basis. The increase in nonperforming assets was primarily driven by three multifamily loans that were put on nonaccrual status this quarter, totaling $10.3 million. This was partially offset by the charge-offs of one $2.8 million nonaccrual multifamily loan, and the charge-offs of one $1.0 million commercial real estate loan. Criticized or classified loans increased $30.3 million largely related to the downgrade of 6 multifamily loans totaling $36.7 million and attributable to one borrower, as well as the downgrade of one $5.2 million construction loan and $0.2 million of small business loans. This was partially offset by the payoff of three commercial and industrial loans totaling $4.0 million, an upgrade of one $0.9 million commercial and industrial loan, the charge-offs of one $2.8 million multifamily loan moved to held for sale, one $1.0 million commercial real estate loan, and four additional small business loans totaling $0.4 million. The allowance for credit losses on loans increased $1.1 million to $57.6 million. The ratio of allowance to total loans was 1.16%, a decrease of 2 basis points from 1.18% in the third quarter of 2025. Capital Quarterly Summary As of December 31, 2025, Common Equity Tier 1 Capital ratio was 14.26%, Total Risk-Based Capital ratio was 16.44%, and Tier-1 Leverage Capital ratio was 9.36%, compared to 14.21%, 16.41%, and 9.18%, respectively, as of September 30, 2025. Stockholders’ equity at December 31, 2025 was $794.5 million, an increase of $18.9 million during the quarter. The increase in stockholders’ equity was primarily driven by $26.6 million of net income for the quarter and a $3.1 million improvement in accumulated other comprehensive loss due to the tax effected mark-to-market adjustment on the available for sale securities portfolio. This was partially offset by $8.7 million of share buybacks and $4.3 million in dividends paid at $0.14 per outstanding share. Tangible book value per share was $26.18 as of December 31, 2025 compared to $25.31 in the prior quarter. Tangible common equity improved to 8.81% of tangible assets, compared to 8.79% as of September 30, 2025. Conference Call As previously announced, Amalgamated Financial Corp. will host a conference call to discuss its fourth quarter and full year results today, January 22, 2026 at 11:00 a.m. (Eastern Time). The conference call can be accessed by dialing 1-877-407-9716 (domestic) or 1-201-493-6779 (international) and asking for the Amalgamated Financial Corp. Fourth Quarter 2025 Earnings Call. A telephonic replay will be available approximately two hours after the call and can be accessed by dialing 1-844-512-2921, or for international callers 1-412-317-6671 and providing the access code 13757829. The telephonic replay will be available until January 30, 2026. Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the investor relations section of our website at http://ir.amalgamatedbank.com/. The online replay will remain available for a limited time beginning immediately following the call. The presentation materials for the call can be accessed on the investor relations section of our website at https://ir.amalgamatedbank.com/. About Amalgamated Financial Corp. Amalgamated Financial Corp. is a Delaware public benefit corporation and a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, Amalgamated Bank. Amalgamated Bank is a New York-based full-service commercial bank and a chartered trust company with a combined network of five branches across New York City, Washington D.C., and San Francisco, and a commercial office in Boston. Amalgamated Bank was formed in 1923 as Amalgamated Bank of New York by the Amalgamated Clothing Workers of America, one of the country’s oldest labor unions. Amalgamated Bank provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Amalgamated Bank is a proud member of the Global Alliance for Banking on Values and is a certified B Corporation®. As of December 31, 2025, total assets were $8.9 billion, total net loans were $4.9 billion, and total deposits were $7.9 billion. Additionally, as of December 31, 2025, trust business held $38.6 billion in assets under custody and $16.6 billion in assets under management. Non-GAAP Financial Measures This release (and the accompanying financial information and tables) refer to certain non-GAAP financial measures including, without limitation, “Core operating revenue,” “Core non-interest expense,” “Core non-interest income,” “Core net income,” “Tangible common equity,” “Average tangible common equity,” “Core return on average assets,” “Core return on average tangible common equity,” “Core efficiency ratio,” “Super-core deposits,” “Tangible assets,” “Tangible book value,” and “Traditional securities.” Management utilizes this information to compare the operating performance for the quarter and the year ended December 31, 2025 versus certain periods in 2025 and 2024 and to prepare internal projections. We believe these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of operating performance. In addition, because intangible assets such as goodwill and other discrete items unrelated to the core business, which are excluded, vary extensively from company to company, we believe that the presentation of this information allows investors to more easily compare the results to those of other companies. The presentation of non-GAAP financial information, however, is not intended to be considered in isolation or as a substitute for GAAP financial measures. We strongly encourage readers to review the GAAP financial measures included in this release and not to place undue reliance upon any single financial measure. In addition, because non-GAAP financial measures are not standardized, it may not be possible to compare the non-GAAP financial measures presented in this release with other companies’ non-GAAP financial measures having the same or similar names. Reconciliations of non-GAAP financial disclosures to comparable GAAP measures found in this release are set forth in the final pages of this release and also may be viewed on our website, amalgamatedbank.com. Terminology Certain terms used in this release are defined as follows: “Core efficiency ratio” is defined as “Core non-interest expense” divided by “Core operating revenue.” The Company believes the most directly comparable performance ratio derived from GAAP financial measures is an efficiency ratio calculated by dividing total non-interest expense by the sum of net interest income and total non-interest income. “Core net income” is defined as net income after tax excluding gains and losses on sales of securities, ICS One-Way Sell fee income, changes in fair value on loans held-for-sale, gains on the sale of owned property, subdebt repurchase gain, costs related to branch closures, restructuring/severance costs, tax credits and accelerated depreciation on solar equity investments, and taxes on notable pre-tax items. The Company believes the most directly comparable GAAP financial measure is net income. “Core non-interest expense” is defined as total non-interest expense excluding costs related to branch closures, and restructuring/severance. The Company believes the most directly comparable GAAP financial measure is total non-interest expense. “Core non-interest income” is defined as total non-interest income excluding gains and losses on sales of securities, ICS One-Way Sell fee income, changes in fair value on loans held-for-sale, gains on the sale of owned property, subdebt repurchase gain, and tax credits and accelerated depreciation on solar equity investments. The Company believes the most directly comparable GAAP financial measure is non-interest income. “Core operating revenue” is defined as total net interest income plus “core non-interest income”. The Company believes the most directly comparable GAAP financial measure is the total of net interest income and non-interest income. “Core return on average assets” is defined as “Core net income” divided by average total assets. The Company believes the most directly comparable performance ratio derived from GAAP financial measures is return on average assets calculated by dividing net income by average total assets. “Core return on average tangible common equity” is defined as “Core net income” divided by average “tangible common equity.” The Company believes the most directly comparable performance ratio derived from GAAP financial measures is return on average equity calculated by dividing net income by average total stockholders’ equity. “Super-core deposits” are defined as total deposits from commercial and consumer customers, with a relationship length of greater than 5 years. The Company believes the most directly comparable GAAP financial measure is total deposits. “Tangible assets” are defined as total assets excluding, as applicable, goodwill and core deposit intangibles. The Company believes the most directly comparable GAAP financial measure is total assets. “Tangible common equity”, and “Tangible book value” are defined as stockholders’ equity excluding, as applicable, minority interests, goodwill and core deposit intangibles. The Company believes that the most directly comparable GAAP financial measure is total stockholders’ equity. “Tangible common equity ratio” is “Tangible common equity” divided by “Tangible assets.” The Company believes the most directly comparable performance ratio derived from GAAP financial measures is an equity ratio calculated by dividing average equity by average assets. "Traditional securities" is defined as total investment securities excluding PACE assessments. The Company believes the most directly comparable GAAP financial measure is total investment securities. Forward-Looking Statements Statements included in this release that are not historical in nature are intended to be, and are hereby identified as, forward-looking statements within the meaning of the Private Securities Litigation Reform Act, Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally can be identified through the use of forward-looking terminology such as “may,” “will,” “anticipate,” “aspire,” “should,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “in the future,” and “intend,” as well as other similar words and expressions of the future. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, any or all of which could cause actual results to differ materially from the results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: uncertain conditions in the banking industry and in national, regional and local economies in core markets, which may have an adverse impact on business, operations and financial performance;deterioration in the financial condition of borrowers resulting in significant increases in credit losses and provisions for those losses;deposit outflows and subsequent declines in liquidity caused by factors that could include lack of confidence in the banking system, a deterioration in market conditions or the financial condition of depositors;changes in deposits, including an increase in uninsured deposits;ability to maintain sufficient liquidity to meet deposit and debt obligations as they come due, which may require that the Company sell investment securities at a loss, negatively impacting net income, earnings and capital;unfavorable conditions in the capital markets, which may cause declines in stock price and the value of investments;negative economic and political conditions that adversely affect the general economy, housing prices, the real estate market, the job market, consumer confidence, the financial condition of borrowers and consumer spending habits, which may affect, among other things, the level of non-performing assets, charge-offs and provision expense;fluctuations or unanticipated changes in the interest rate environment including changes in net interest margin or changes in the yield curve that affect investments, loans or deposits;the general decline in the real estate and lending markets, particularly in commercial real estate in the Company’s market areas, and the effects of the enactment of or changes to rent-control and other similar regulations on multi-family housing;potential implementation by the current presidential administration of a regulatory reform agenda that is significantly different from that of the prior presidential administration, impacting the rule making, supervision, examination and enforcement of the banking regulation agencies;changes in U.S. trade policies and other global political factors beyond the Company’s control, including the imposition of tariffs, which raise economic uncertainty, potentially leading to slower growth and a decrease in loan demand;the outcome of legal or regulatory proceedings that may be instituted against us;inability to achieve organic loan and deposit growth and the composition of that growth;composition of the Company’s loan portfolio, including any concentration in industries or sectors that may experience unanticipated or anticipated adverse conditions greater than other industries or sectors in the national or local economies in which the Company operates;inaccuracy of the assumptions and estimates the Company makes and policies that the Company implements in establishing the allowance for credit losses;changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments;any matter that would cause the Company to conclude that there was impairment of any asset, including intangible assets;limitations on the ability to declare and pay dividends;the impact of competition with other financial institutions, including pricing pressures and the resulting impact on results, including as a result of compression to net interest margin;increased competition for experienced members of the workforce including executives in the banking industry;a failure in or breach of operational or security systems or infrastructure, or those of third party vendors or other service providers, including as a result of unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches;increased regulatory scrutiny, privacy concerns, and exposure from the use of “big data” techniques, machine learning, and artificial intelligence;a downgrade in the Company’s credit rating;“greenwashing claims” against the Company and environmental, social, and governance ("ESG") products and increased scrutiny and political opposition to ESG and diversity, equity, and inclusion ("DEI") practices;any unanticipated or greater than anticipated adverse conditions (including the possibility of earthquakes, wildfires, and other natural disasters) affecting the markets in which the Company operates;physical and transitional risks related to climate change as they impact the business and the businesses that the Company finances;future repurchase of the Company’s shares through the Company’s common stock repurchase program; anddescriptions of assumptions underlying or relating to any of the foregoing. Additional factors which could affect the forward-looking statements can be found in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at https://www.sec.gov/. We disclaim any obligation to update or revise any forward-looking statements contained in this release, which speak only as of the date hereof, whether as a result of new information, future events or otherwise, except as required by law. Consolidated Statements of Income Three Months Ended Year Ended December 31, September 30, December 31, December 31, ($ in thousands) 2025 2025 2024 2025 2024 INTEREST AND DIVIDEND INCOME (unaudited) (unaudited) (unaudited) (unaudited) Loans $ 61,730 $ 62,321 $ 58,024 $ 240,616 $ 215,380 Securities 44,858 46,023 43,448 176,272 177,247 Interest-bearing deposits in banks 1,267 1,241 1,113 5,341 8,669 Total interest and dividend income 107,855 109,585 102,585 422,229 401,296 INTEREST EXPENSE Deposits 29,461 32,583 28,582 121,554 113,461 Borrowed funds 543 555 908 2,892 5,405 Total interest expense 30,004 33,138 29,490 124,446 118,866 NET INTEREST INCOME 77,851 76,447 73,095 297,783 282,430 Provision for credit losses 5,536 5,301 3,686 16,323 10,284 Net interest income after provision for credit losses 72,315 71,146 69,409 281,460 272,146 NON-INTEREST INCOME Trust Department fees 4,143 3,969 3,971 16,181 15,186 Service charges on deposit accounts 5,931 4,261 5,337 17,502 32,178 Bank-owned life insurance income 652 1,050 661 3,124 2,498 Losses on sale of securities and other assets, net (485 ) (1,226 ) (1,003 ) (3,431 ) (9,698 ) Gain (loss) on sale of loans and changes in fair value on loans held-for-sale, net (3,640 ) 70 (4,090 ) (2,720 ) (8,197 ) Equity method investments income (loss) 127 597 (529 ) (1,733 ) (831 ) Other income 620 440 442 2,017 2,079 Total non-interest income 7,348 9,161 4,789 30,940 33,215 NON-INTEREST EXPENSE Compensation and employee benefits 26,542 25,459 24,691 98,555 93,766 Occupancy and depreciation 3,165 3,452 3,376 13,385 13,081 Professional fees 2,892 3,387 2,674 14,301 9,957 Technology 6,991 5,981 5,299 24,075 19,802 Office maintenance and depreciation 363 582 578 2,145 2,471 Amortization of intangible assets 144 144 183 574 730 Advertising and promotion 1,394 497 314 2,353 3,731 Federal deposit insurance premiums 975 1,000 715 3,775 3,715 Other expense 3,930 3,115 3,313 13,084 12,519 Total non-interest expense 46,396 43,617 41,143 172,247 159,772 Income before income taxes 33,267 36,690 33,055 140,153 145,589 Income tax expense 6,628 9,900 8,564 35,708 39,155 Net income $ 26,639 $ 26,790 $ 24,491 $ 104,445 $ 106,434 Earnings per common share - basic $ 0.89 $ 0.89 $ 0.80 $ 3.44 $ 3.48 Earnings per common share - diluted $ 0.88 $ 0.88 $ 0.79 $ 3.41 $ 3.44 Consolidated Statements of Financial Condition ($ in thousands) December 31, 2025 September 30, 2025 December 31, 2024 Assets (unaudited) (unaudited) Cash and due from banks $ 4,501 $ 5,032 $ 4,042 Interest-bearing deposits in banks 286,716 110,512 56,707 Total cash and cash equivalents 291,217 115,544 60,749 Securities: Available for sale, at fair value Traditional securities 1,580,049 1,776,256 1,477,047 Property Assessed Clean Energy (“PACE”) assessments 203,502 208,427 152,011 1,783,551 1,984,683 1,629,058 Held-to-maturity, at amortized cost: Traditional securities, net of allowance for credit losses of $43, $45 and $49, respectively 476,928 477,947 542,246 PACE assessments, net of allowance for credit losses of $681, $669 and $655 , respectively 1,077,087 1,034,460 1,043,959 1,554,015 1,512,407 1,586,205 Loans held for sale 2,814 2,627 37,593 Loans receivable, net of deferred loan origination fees and costs 4,957,273 4,788,772 4,672,924 Allowance for credit losses (57,586 ) (56,479 ) (60,086 ) Loans receivable, net 4,899,687 4,732,293 4,612,838 Resell agreements 48,662 58,956 23,741 Federal Home Loan Bank of New York ("FHLBNY") stock, at cost 5,009 5,277 15,693 Accrued interest receivable 65,128 57,064 61,172 Premises and equipment, net 4,685 6,172 6,386 Bank-owned life insurance 108,941 108,289 108,026 Right-of-use lease asset 9,602 11,480 14,231 Deferred tax asset, net 30,750 28,013 42,437 Goodwill 12,936 12,936 12,936 Intangible assets, net 913 1,056 1,487 Equity method investments 5,221 6,528 8,482 Other assets 46,705 39,649 35,858 Total assets $ 8,869,836 $ 8,682,974 $ 8,256,892 Liabilities Deposits $ 7,949,241 $ 7,769,969 $ 7,180,605 Borrowings 69,547 75,478 314,409 Operating leases 12,255 14,800 19,734 Other liabilities 44,329 47,154 34,490 Total liabilities 8,075,372 7,907,401 7,549,238 Stockholders’ equity Common stock, par value $0.01 per share 312 310 308 Additional paid-in capital 294,134 292,021 288,656 Retained earnings 567,269 544,901 480,144 Accumulated other comprehensive loss, net of income taxes (32,088 ) (35,210 ) (58,637 ) Treasury stock, at cost (35,163 ) (26,449 ) (2,817 ) Total stockholders' equity 794,464 775,573 707,654 Total liabilities and stockholders’ equity $ 8,869,836 $ 8,682,974 $ 8,256,892 Select Financial Data As of and for the As of and for the Three Months Ended Year Ended December 31, September 30, December 31, December 31, (Shares in thousands) 2025 2025 2024 2025 2024 Selected Financial Ratios and Other Data: Earnings per share Basic $ 0.89 $ 0.89 $ 0.80 $ 3.44 $ 3.48 Diluted 0.88 0.88 0.79 3.41 3.44 Core net income (non-GAAP) Basic $ 1.00 $ 0.91 $ 0.91 $ 3.68 $ 3.52 Diluted 0.99 0.91 0.90 3.64 3.48 Book value per common share (excluding minority interest) $ 26.64 $ 25.78 $ 23.07 $ 26.64 $ 23.07 Tangible book value per share (non-GAAP) $ 26.18 $ 25.31 $ 22.60 $ 26.18 $ 22.60 Common shares outstanding, par value $.01 per share(1) 29,818 30,089 30,671 29,818 30,671 Weighted average common shares outstanding, basic 29,905 30,176 30,677 30,328 30,588 Weighted average common shares outstanding, diluted 30,169 30,411 30,976 30,631 30,926 (1) 70,000,000 shares authorized; 31,045,377, 31,006,249, and 30,809,484 shares issued for the periods ended December 31, 2025, September 30, 2025, and December 31, 2024 respectively, and 29,818,424, 30,088,747, and 30,670,982 shares outstanding for the periods ended December 31, 2025, September 30, 2025, and December 31, 2024 respectively. Select Financial Data As of and for the As of and for the Three Months Ended Year Ended December 31, September 30, December 31, December 31, 2025 2025 2024 2025 2024 Selected Performance Metrics: Return on average assets 1.22 % 1.23 % 1.17 % 1.23 % 1.29 % Core return on average assets (non-GAAP) 1.37 % 1.27 % 1.34 % 1.31 % 1.30 % Return on average equity 13.46 % 13.98 % 13.83 % 13.88 % 16.39 % Core return on average tangible common equity (non-GAAP) 15.41 % 14.65 % 16.13 % 15.12 % 16.99 % Average equity to average assets 9.07 % 8.80 % 8.48 % 8.84 % 7.86 % Tangible common equity to tangible assets (non-GAAP) 8.81 % 8.79 % 8.41 % 8.81 % 8.41 % Loan yield 5.11 % 5.22 % 5.00 % 5.10 % 4.81 % Securities yield 5.05 % 5.09 % 5.12 % 5.10 % 5.20 % Deposit cost 1.51 % 1.67 % 1.53 % 1.60 % 1.53 % Net interest margin 3.66 % 3.60 % 3.59 % 3.59 % 3.51 % Efficiency ratio (1) 54.46 % 50.95 % 52.83 % 52.40 % 50.62 % Core efficiency ratio (non-GAAP) 51.13 % 50.17 % 49.82 % 50.65 % 50.33 % Asset Quality Ratios: Nonaccrual loans to total loans 0.56 % 0.47 % 0.45 % 0.56 % 0.45 % Nonperforming assets to total assets 0.32 % 0.26 % 0.31 % 0.32 % 0.31 % Allowance for credit losses on loans to nonaccrual loans 207.79 % 250.60 % 286.00 % 207.79 % 286.00 % Allowance for credit losses on loans to total loans 1.16 % 1.18 % 1.29 % 1.16 % 1.29 % Annualized net charge-offs to average loans 0.37 % 0.81 % 0.36 % 0.43 % 0.36 % Liquidity Ratios: 2 day Liquidity Coverage of Uninsured Deposits % 102.85 % 101.87 % 85.78 % 102.85 % 85.78 % Cash and Borrowing Capacity Coverage of Uninsured, Non-Supercore Deposits (%) 168.01 % 166.10 % 143.44 % 168.01 % 143.44 % Capital Ratios: Tier 1 leverage capital ratio 9.36 % 9.18 % 9.00 % 9.36 % 9.00 % Tier 1 risk-based capital ratio 14.26 % 14.21 % 13.90 % 14.26 % 13.90 % Total risk-based capital ratio 16.44 % 16.41 % 16.26 % 16.44 % 16.26 % Common equity tier 1 capital ratio 14.26 % 14.21 % 13.90 % 14.26 % 13.90 % (1) Efficiency ratio is calculated by dividing total non-interest expense by the sum of net interest income and total non-interest income Loan and PACE Assessments Portfolio Composition (In thousands) At December 31, 2025 At September 30, 2025 At December 31, 2024 Amount % of total loans Amount % of total loans Amount % of total loans Commercial portfolio: Commercial and industrial $ 1,334,794 26.9 % $ 1,273,927 26.6 % $ 1,175,490 25.2 % Multifamily 1,643,779 33.2 % 1,454,104 30.4 % 1,351,604 28.9 % Commercial real estate 363,266 7.3 % 396,197 8.3 % 411,387 8.8 % Construction and land development 24,803 0.5 % 22,554 0.4 % 20,683 0.4 % Total commercial portfolio 3,366,642 67.9 % 3,146,782 65.7 % 2,959,164 63.3 % Retail portfolio: Residential real estate lending 1,237,791 25.0 % 1,277,355 26.7 % 1,313,617 28.1 % Consumer solar 325,154 6.6 % 335,531 7.0 % 365,516 7.8 % Consumer and other 27,686 0.5 % 29,104 0.6 % 34,627 0.8 % Total retail portfolio 1,590,631 32.1 % 1,641,990 34.3 % 1,713,760 36.7 % Total loans held for investment 4,957,273 100.0 % 4,788,772 100.0 % 4,672,924 100.0 % Allowance for credit losses (57,586 ) (56,479 ) (60,086 ) Loans receivable, net $ 4,899,687 $ 4,732,293 $ 4,612,838 PACE assessments: Available for sale, at fair value Residential PACE assessments 203,502 15.9 % 208,427 16.9 % 152,011 12.7 % Held-to-maturity, at amortized cost Commercial PACE assessments 327,735 25.6 % 300,310 24.1 % 268,692 22.5 % Residential PACE assessments 750,033 58.5 % 734,819 59.0 % 775,922 64.8 % Total Held-to-maturity PACE assessments 1,077,768 84.1 % 1,035,129 83.1 % 1,044,614 87.3 % Total PACE assessments 1,281,270 100.0 % 1,243,556 100.0 % 1,196,625 100.0 % Allowance for credit losses (681 ) (669 ) (655 ) Total PACE assessments, net $ 1,280,589 $ 1,242,887 $ 1,195,970 Loans receivable, net and total PACE assessments, net as a % of Deposits 77.8 % 76.9 % 80.9 % Net Interest Income Analysis Three Months Ended December 31, 2025 September 30, 2025 December 31, 2024 (In thousands) Average Balance Income / Expense Yield / Rate Average Balance Income / Expense Yield / Rate Average Balance Income / Expense Yield / Rate Interest-earning assets: Interest-bearing deposits in banks $ 139,164 $ 1,267 3.61 % $ 124,728 $ 1,241 3.95 % $ 105,958 $ 1,113 4.18 % Securities(1) 3,451,195 43,940 5.05 % 3,499,587 44,895 5.09 % 3,313,349 42,632 5.12 % Resell agreements 60,081 918 6.06 % 62,892 1,128 7.12 % 50,938 816 6.37 % Loans receivable, net (2) 4,793,058 61,730 5.11 % 4,732,210 62,321 5.22 % 4,619,723 58,024 5.00 % Total interest-earning assets 8,443,498 107,855 5.07 % 8,419,417 109,585 5.16 % 8,089,968 102,585 5.04 % Non-interest-earning assets: Cash and due from banks 6,729 7,160 6,291 Other assets 208,393 214,809 214,868 Total assets $ 8,658,620 $ 8,641,386 $ 8,311,127 Interest-bearing liabilities: Savings, NOW and money market deposits $ 4,466,244 $ 27,829 2.47 % $ 4,691,920 $ 30,922 2.61 % $ 3,971,128 $ 26,329 2.64 % Time deposits 201,750 1,632 3.21 % 200,257 1,661 3.29 % 220,205 2,085 3.77 % Brokered CDs — — 0.00 % — — 0.00 % 11,822 169 5.69 % Total interest-bearing deposits 4,667,994 29,461 2.50 % 4,892,177 32,583 2.64 % 4,203,155 28,583 2.71 % Other borrowings 69,534 543 3.10 % 76,500 555 2.88 % 98,768 908 3.66 % Total interest-bearing liabilities 4,737,528 30,004 2.51 % 4,968,677 33,138 2.65 % 4,301,923 29,491 2.73 % Non-interest-bearing liabilities: Demand and transaction deposits 3,073,106 2,846,392 3,239,251 Other liabilities 62,716 65,777 65,580 Total liabilities 7,873,350 7,880,846 7,606,754 Stockholders' equity 785,270 760,540 704,373 Total liabilities and stockholders' equity $ 8,658,620 $ 8,641,386 $ 8,311,127 Net interest income / interest rate spread $ 77,851 2.56 % $ 76,447 2.51 % $ 73,094 2.31 % Net interest-earning assets / net interest margin $ 3,705,970 3.66 % $ 3,450,740 3.60 % $ 3,788,045 3.59 % Total deposits excluding Brokered CDs / total cost of deposits excluding Brokered CDs $ 7,741,100 1.51 % $ 7,738,569 1.67 % $ 7,430,584 1.52 % Total deposits / total cost of deposits $ 7,741,100 1.51 % $ 7,738,569 1.67 % $ 7,442,406 1.53 % Total funding / total cost of funds $ 7,810,634 1.52 % $ 7,815,069 1.68 % $ 7,541,174 1.56 % (1) Includes Federal Home Loan Bank (FHLB) stock in the average balance, and dividend income on FHLB stock in interest income. (2) Includes prepayment penalty interest income in 4Q2025, 3Q2025, and 4Q2024 of $855, $47, and $121, respectively (in thousands). Net Interest Income Analysis Year Ended December 31, 2025 December 31, 2024 (In thousands) Average Balance Income / Expense Yield / Rate Average Balance Income / Expense Yield / Rate Interest-earning assets: Interest-bearing deposits in banks $ 136,810 $ 5,341 3.90 % $ 176,830 $ 8,669 4.90 % Securities(1) 3,384,246 172,553 5.10 % 3,295,597 171,308 5.20 % Resell agreements 51,554 3,719 7.21 % 89,312 5,939 6.65 % Loans receivable, net (2) 4,720,351 240,616 5.10 % 4,479,038 215,380 4.81 % Total interest-earning assets 8,292,961 422,229 5.09 % 8,040,777 401,296 4.99 % Non-interest-earning assets: Cash and due from banks 6,146 5,970 Other assets 211,921 218,033 Total assets $ 8,511,028 $ 8,264,780 Interest-bearing liabilities: Savings, NOW and money market deposits $ 4,465,877 $ 114,209 2.56 % $ 3,699,972 $ 99,362 2.69 % Time deposits 213,261 7,345 3.44 % 210,599 7,706 3.66 % Brokered CDs — — 0.00 % 122,035 6,393 5.24 % Total interest-bearing deposits 4,679,138 121,554 2.60 % 4,032,606 113,461 2.81 % Other borrowings 88,817 2,892 3.26 % 140,539 5,405 3.85 % Total interest-bearing liabilities 4,767,955 124,446 2.61 % 4,173,145 118,866 2.85 % Non-interest-bearing liabilities: Demand and transaction deposits 2,929,346 3,373,047 Other liabilities 61,126 69,245 Total liabilities 7,758,427 7,615,437 Stockholders' equity 752,601 649,343 Total liabilities and stockholders' equity $ 8,511,028 $ 8,264,780 Net interest income / interest rate spread $ 297,783 2.48 % $ 282,430 2.14 % Net interest-earning assets / net interest margin $ 3,525,006 3.59 % $ 3,867,632 3.51 % Total deposits excluding Brokered CDs / total cost of deposits excluding Brokered CDs $ 7,608,484 1.60 % $ 7,283,618 1.47 % Total deposits / total cost of deposits $ 7,608,484 1.60 % $ 7,405,653 1.53 % Total funding / total cost of funds $ 7,697,301 1.62 % $ 7,546,192 1.58 % (1) Includes Federal Home Loan Bank (FHLB) stock in the average balance, and dividend income on FHLB stock in interest income (2) Includes prepayment penalty interest income in December YTD 2025 and December YTD 2024 of $1.1 million and $0.1 million, respectively Deposit Portfolio Composition Three Months Ended December 31, 2025 September 30, 2025 December 31, 2024 (In thousands) Ending Balance Average Balance Ending Balance Average Balance Ending Balance Average Balance Non-interest-bearing demand deposit accounts $ 3,234,418 $ 3,073,106 $ 2,911,442 $ 2,846,392 $ 2,868,506 $ 3,239,251 NOW accounts 184,635 172,342 175,701 173,768 179,765 174,963 Money market deposit accounts 4,000,096 3,960,099 4,140,781 4,184,050 3,564,423 3,471,242 Savings accounts 326,895 333,803 339,219 334,102 328,696 324,922 Time deposits 203,197 201,750 202,826 200,257 239,215 220,205 Brokered certificates of deposit ("CDs") — — — — — 11,822 Total deposits $ 7,949,241 $ 7,741,100 $ 7,769,969 $ 7,738,569 $ 7,180,605 $ 7,442,405 Total deposits excluding Brokered CDs $ 7,949,241 $ 7,741,100 $ 7,769,969 $ 7,738,569 $ 7,180,605 $ 7,430,583 Three Months Ended December 31, 2025 September 30, 2025 December 31, 2024 Average Rate Paid(1) Cost of Funds Average Rate Paid(1) Cost of Funds Average Rate Paid(1) Cost of Funds Non-interest-bearing demand deposit accounts 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % 0.00 % NOW accounts 0.40 % 0.50 % 0.52 % 0.66 % 0.72 % 0.81 % Money market deposit accounts 2.47 % 2.67 % 2.62 % 2.80 % 2.67 % 2.85 % Savings accounts 1.01 % 1.18 % 1.24 % 1.33 % 1.32 % 1.37 % Time deposits 3.14 % 3.21 % 3.24 % 3.29 % 3.54 % 3.77 % Brokered CDs — % — % — % — % — % 5.69 % Total deposits 1.38 % 1.51 % 1.55 % 1.67 % 1.52 % 1.53 % Interest-bearing deposits excluding brokered CDs 2.32 % 2.50 % 2.47 % 2.64 % 2.54 % 2.70 % (1) Average rate paid is calculated as the weighted average of spot rates on deposit accounts as of the period indicated. Asset Quality (In thousands) December 31, 2025 September 30, 2025 December 31, 2024 Loans 90 days past due and accruing $ — $ — $ — Nonaccrual loans held for sale 930 459 4,853 Nonaccrual loans - Commercial 22,108 15,502 16,041 Nonaccrual loans - Retail 5,607 7,035 4,968 Nonaccrual securities 6 6 8 Total nonperforming assets $ 28,651 $ 23,002 $ 25,870 Nonaccrual loans: Commercial and industrial $ 713 $ 646 $ 872 Multifamily 10,316 2,799 — Commercial real estate — 955 4,062 Construction and land development 11,079 11,102 11,107 Total commercial portfolio 22,108 15,502 16,041 Residential real estate lending 2,419 3,644 1,771 Consumer solar 3,129 3,134 2,827 Consumer and other 59 257 370 Total retail portfolio 5,607 7,035 4,968 Total nonaccrual loans $ 27,715 $ 22,537 $ 21,009 Credit Quality December 31, 2025 September 30, 2025 December 31, 2024 ($ in thousands) Criticized and classified loans Commercial and industrial $ 42,438 $ 48,857 62,614 Multifamily 45,154 11,279 8,573 Commercial real estate — 955 4,062 Construction and land development 16,287 11,102 11,107 Residential real estate lending 2,419 3,644 6,387 Consumer solar 3,129 3,134 2,827 Consumer and other 59 257 370 Total loans $ 109,486 $ 79,228 95,940 Criticized and classified loans to total loans Commercial and industrial 0.86 % 1.02 % 1.34 % Multifamily 0.91 % 0.24 % 0.18 % Commercial real estate — % 0.02 % 0.09 % Construction and land development 0.33 % 0.23 % 0.24 % Residential real estate lending 0.05 % 0.08 % 0.14 % Consumer solar 0.06 % 0.07 % 0.06 % Consumer and other — % 0.01 % 0.01 % Total loans 2.21 % 1.67 % 2.06 % December 31, 2025 September 30, 2025 December 31, 2024 Annualized net charge-offs (recoveries) to average loans ACL to total portfolio balance Annualized net charge-offs (recoveries) to average loans ACL to total portfolio balance Annualized net charge-offs (recoveries) to average loans ACL to total portfolio balance Commercial and industrial 0.12 % 0.99 % 2.54 % 1.03 % 0.53 % 1.15 % Multifamily 0.66 % 0.29 % — % 0.30 % 0.15 % 0.21 % Commercial real estate — % 0.49 % — % 0.59 % — % 0.39 % Construction and land development — % 6.07 % — % 6.72 % (7.19 )% 6.06 % Residential real estate lending (0.08 )% 0.58 % (0.06 )% 0.58 % 0.28 % 0.71 % Consumer solar 2.26 % 8.66 % 2.20 % 7.94 % 1.71 % 7.96 % Consumer and other (0.11 )% 3.35 % 0.35 % 3.36 % 0.86 % 6.83 % Total loans 0.37 % 1.16 % 0.81 % 1.18 % 0.36 % 1.29 % Reconciliation of GAAP to Non-GAAP Financial Measures The information provided below presents a reconciliation of each of non-GAAP financial measures to the most directly comparable GAAP financial measure. As of and for the As of and for the Three Months Ended Year Ended December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 (in thousands) Core operating revenue Net Interest Income (GAAP) $ 77,851 $ 76,447 $ 73,095 $ 297,783 $ 282,430 Non-interest income (GAAP) 7,348 9,161 4,789 30,940 33,215 Add: Loss on Sale of Securities and Other Assets 485 1,226 1,003 3,431 9,698 Less: ICS One-Way Sell Fee Income(1) (1,886 ) (420 ) (1,347 ) (2,417 ) (17,194 ) Add: Loss and changes in fair value of loans held-for-sale(6) 3,821 — 4,117 2,984 8,383 Less: Subdebt repurchase gain(2) — — — — (1,076 ) Add: Tax (credits) depreciation on solar investments(3) 287 — 920 3,466 2,016 Core operating revenue (non-GAAP) $ 87,906 $ 86,414 $ 82,577 $ 336,187 $ 317,472 Core non-interest expense Non-interest expense (GAAP) $ 46,396 $ 43,617 $ 41,143 $ 172,247 $ 159,772 Add: Gain on settlement of lease termination(4) — — — — 499 Less: Severance costs(5) (1,447 ) (260 ) (1 ) (1,974 ) (472 ) Core non-interest expense (non-GAAP) $ 44,949 $ 43,357 $ 41,142 $ 170,273 $ 159,799 Core net income Net Income (GAAP) $ 26,639 $ 26,790 $ 24,491 $ 104,445 $ 106,433 Add: Loss on Sale of Securities and Other Assets 485 1,226 1,003 3,431 9,698 Less: ICS One-Way Sell Fee Income(1) (1,886 ) (420 ) (1,347 ) (2,417 ) (17,194 ) Add: Loss and changes in fair value of loans held-for-sale(6) 3,821 — 4,117 2,984 8,383 Less: Gain on settlement of lease termination(4) — — — — (499 ) Less: Subdebt repurchase gain(2) — — — — (1,076 ) Add: Severance costs(5) 1,447 260 1 1,974 472 Add: Tax (credits) depreciation on solar investments(3) 287 — 920 3,466 2,016 Less: Tax on notable items (828 ) (296 ) (1,217 ) (2,247 ) (473 ) Core net income (non-GAAP) $ 29,965 27,560 $ 27,968 $ 111,636 $ 107,760 Tangible common equity Stockholders' equity (GAAP) $ 794,464 $ 775,573 $ 707,654 $ 794,464 $ 707,653 Less: Minority interest — — — — — Less: Goodwill (12,936 ) (12,936 ) (12,936 ) (12,936 ) (12,936 ) Less: Core deposit intangible (913 ) (1,056 ) (1,487 ) (913 ) (1,487 ) Tangible common equity (non-GAAP) $ 780,615 $ 761,581 $ 693,231 $ 780,615 $ 693,230 Average tangible common equity Average stockholders' equity (GAAP) $ 785,270 $ 760,540 $ 704,373 $ 752,601 $ 649,343 Less: Minority interest — — (132 ) — (133 ) Less: Goodwill (12,936 ) (12,936 ) (12,936 ) (12,936 ) (12,936 ) Less: Core deposit intangible (982 ) (1,126 ) (1,575 ) (1,197 ) (1,848 ) Average tangible common equity (non-GAAP) $ 771,352 $ 746,478 $ 689,730 $ 738,468 $ 634,426 (1) Included in service charges on deposit accounts in the Consolidated Statements of Income (2) Included in other income in the Consolidated Statements of Income (3) Included in equity method investments income in the Consolidated Statements of Income (4) Included in occupancy and depreciation in the Consolidated Statements of Income (5) Included in compensation and employee benefits in the Consolidated Statements of Income (6) Included in changes in fair value of loans held-for-sale in the Consolidated Statements of Income View source version on businesswire.com: https://www.businesswire.com/news/home/20260122674589/en/ Investor Contact: Jamie Lillis Solebury Strategic Communications [email protected] 800-895-4172 Source: Amalgamated Financial Corp.