Amalgamated Financial Corp 2024年度报告

FORM10-K ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OFTHE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember31, 2024OR TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THESECURITIES EXCHANGE ACT OF 1934 For transition period fromtoCommission File Number:001-40136 Amalgamated Financial Corp.(Exact name of registrant as specified in its charter) 85-2757101 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 275 Seventh Avenue,New York,NY10001(Address of principal executive offices) (Zip Code) (212)255-6200(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section12(g)of the Act: None. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. Yes☐No☒Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Act.Yes☐No☒ Indicate by check mark whether the Registrant (1)has filed all reports required to be filed by Section13 or 15 (d)of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b–2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment ofthe effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act). Yes☐No☒ The aggregate market value of the voting stock of the registrant held by non‑affiliates was approximately $489,176,803based on theclosing sale price of $27.40 per share on June 28, 2024. For purposes of the foregoing calculation only, all directors and namedexecutive officers of the registrant, Workers United have been deemed affiliates. As of March5, 2025, the registrant had30,687,354shares of common stock outstanding at $0.01 par value per share. DOCUMENTS INCORPORATED BY REFERENCE The information required by PartIII of this Annual Report on Form10-K is incorporated by reference from the registrant’s definitiveproxy statement relating to the 2025 Annual Meeting of Stockholders, which will be filed with the U.S. Securities and ExchangeCommission within 120days after the end of the fiscal year to which this Annual Report on Form10-K relates. TABLE OF CONTENTS Part I.CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS1Item 1.Business3Item 1A.Risk Factors30Item 1B.Unresolved Staff Comments46Item 1C.Cybersecurity46Item 2.Properties48Item 3.Legal Proceedings48Item 4.Mine Safety Disclosures48 Part II. Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities49Item 6.[Reserved]52Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations52Item 7A.Quantitative and Qualitative Disclosures About Market Risk77Item 8.Financial Statements and Supplementary Data79Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure145Item 9A.Controls and Procedures145Item 9B.Other Information145Item 9C.Disclosures Regarding Foreign Jurisdiction that Prevent Inspections146 Part III. Item 10.Directors, Executive Officers and Co