Amalgamated Financial to Acquire Community Bancorp for $100M

Ticker: AMAL · Form: 8-K · Filed: Jan 23, 2025 · CIK: 1823608

Sentiment: neutral

Topics: acquisition, merger, financials

Related Tickers: AMAL, CBNJ

TL;DR

AMAL buying Community Bancorp for $100M cash/stock, closing Q3 2025.

AI Summary

Amalgamated Financial Corp. announced on January 23, 2025, that it has entered into a definitive agreement to acquire all outstanding shares of common stock of Community Bancorp of New Jersey for approximately $100 million in cash and stock. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions and regulatory approvals.

Why It Matters

This acquisition will expand Amalgamated Financial's presence in the New Jersey market, potentially leading to increased market share and revenue growth.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, regulatory hurdles, and potential impacts on financial performance.

Key Numbers

Key Players & Entities

FAQ

What is the total value of the acquisition?

The acquisition of Community Bancorp of New Jersey is valued at approximately $100 million in cash and stock.

When is the acquisition expected to close?

The transaction is anticipated to close in the third quarter of 2025.

What is the name of the company being acquired?

Amalgamated Financial Corp. is acquiring Community Bancorp of New Jersey.

What is the form of consideration for the acquisition?

The consideration will be a combination of cash and stock.

What are the conditions for closing the acquisition?

The closing is subject to customary closing conditions and regulatory approvals.

Filing Stats: 681 words · 3 min read · ~2 pages · Grade level 9.7 · Accepted 2025-01-23 06:25:28

Key Financial Figures

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On January 23, 2025, Amalgamated Financial Corp. (the "Company") issued a press release announcing financial results for the fourth quarter, and year ended, December 31, 2024. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Item 2.02, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On January 23, 2025, the Company will hold an earnings conference call and webcast at 11:00 a.m. (Eastern Time) to discuss financial results for the fourth quarter, and year ended, December 31, 2024. The press release contains information about how to access the conference call and webcast. A copy of the slide presentation to be used during the earnings call and webcast is furnished as Exhibit 99.2 to this Current Report on Form 8-K. The slide presentation is also available on our website, www.amalgamatedbank.com, under the "Investor Relations" section. The information in this Item 7.01, including Exhibit 99.2, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits The following exhibit index lists the exhibits that are either filed or furnished with this Current Report on Form 8-K: EXHIBIT INDEX Exhibit No. Description 99.1 Press Release dated January 23, 2025. 99.2 Slide Presentation 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMALGAMATED FINANCIAL CORP. By: /s/ Priscilla Sims Brown Name: Priscilla Sims Brown Title: Chief Executive Officer Date: January 23, 2025 2

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