Amalgamated Financial Corp.

Good morning and welcome to the Amalgamated Financial Corporation fourth quarter 2025 earnings call. Today's presentation is listen-only with Q&A to follow. A replay of the call and the accompanying slides are available on our Investor Relations website. Please review the forward-looking statements and non-GAAP disclosures on slide two. As a reminder, this conference call is being recorded. I would now like to turn the call over to Mr. Jason Darby, Chief Financial Officer. Please go ahead, sir.

Thank you, Operator, and good morning, everyone. We appreciate your participation in our earnings call. With me today is Priscilla Sims-Brown, our President and Chief Executive Officer. Additionally, Sam Brown, our Chief Banking Officer, is here for the Q&A portion of today's call. We'll be continuing with shorter prepared comments this quarter to get to your questions faster and avoid repeating details you've already reviewed in the earnings materials. I'll now turn the call over to Priscilla.

Good morning, everyone, and thank you for joining us. 2025 is in the books, and Amalgamated shined brightly. I have to start by expressing my deep praise and gratitude to all my amazing colleagues at the bank. You are builders, creators, and advancers of our mission to help those who do good do better. We offer unwavering support to our customers. We admire your courage and conviction to serve, and we feel privileged to be your banking partner. And to our shareholders, Thanks for believing in us and in our business model. You are the capital engine that makes us go and grow. I'll get to more on growth in a couple of minutes, but first I want to start by recapping another excellent quarter for Amalgamated. Core earnings was 99 cents per diluted share, again showing the consistency of our earnings power and teeing us up to deliver consistent, growing returns on tangible common equity. We had a record-breaking quarter for deposit gathering, generating nearly $1 billion of new deposits. Absolutely incredible, and not even in an election year. This smashes our previous record set way back in Q2 of 2020 during the peak run-up to the presidential election. Our net interest margin expanded again, and we booked almost $170 million in net new loans, one of our best quarters ever. A lot to like there. So let's dive in a bit more. Deposit gathering was on fire. On-balance sheet deposits grew $179 million to $7.9 billion, and our off-balance sheet deposits increased $789 million to $1.1 billion. Our political deposits increased $287 million to $1.7 billion, as our share of the fundraising taking place ahead of November's midterm elections continues to grow. It's important to note that all of our customer segments experienced deposit growth again this quarter. Not-for-profit grew an eye-popping $388 million, social and philanthropy grew $122 million, and our climate and sustainability segment grew $77 million. This across-the-board strength demonstrates the mission-aligned, differentiated, competitive advantage that only Amalgamated possesses. Turning to loans, we delivered strong growth with loans increasing $167 million, or 3.5%, to $4.9 billion. Loans in our growth mode portfolios, which include multifamily, CRE, and CNI, increased by 7% or $218 million, a nice acceleration from the 3.3% growth achieved in the third quarter and 2.1% growth achieved in the second quarter. We continue to benefit from the addition of several CNI experts that we added to our team, and we expect to deliver more growth in 2026 as we continue to expand our reach on the West Coast. Our PACE portfolio also saw a nice acceleration with total assessments growing $38 million or 3% to $1.3 billion in the fourth quarter. The strength came from over 27 million in growth in CPACE where there's a range of opportunities. We continue to ramp up with the new originator partnership we discussed with you last quarter. The question now is where is all of this leading? We believe Amalgamated is ready to grow significantly. We're ready to cross $10 billion in assets and have made and will continue to make the necessary investments in people and technology. The business model is a winner, and we have exceptional proven management team that can carry the bank into its next phase. While Amalgamated has seen its fair share of specific challenges during our four and a half years as a team, Banks broadly have been operating through extraordinary environmental challenges, from the pandemic and inflation shock to sharp swings in growth, asset prices, and depositor behavior, all of which transformed credit demand and risk. In the U.S., we have experienced the fastest rate hike environment in 60 years, the longest inverted yield curve in 40 years, and the largest Fed-driven liquidity drain on record. Thinking of these things really helps put into context the success Amalgamated Bank announced today compared to five years ago. Through these massive challenges, our bank has grown from $6 billion to nearly $9 billion, has become one of the most reliably profitable banks in the country, now employs nearly 500 people, and is making a bigger and longer-lasting impact than ever. Our outstanding management team navigated what was arguably the most difficult banking conditions in modern memory with a steady hand and adherence to a clear strategy. Our expectations for growth and performance in the future will be bold for sure, and Jason will outline some of this in his 2026 guidance in just a few moments. Our team's demonstrated track record provides a clear precedent for future achievements as Amalgamated Bank advances toward its full potential. Jason, take it from here.