Amalgamated Financial Corp. (NASDAQ:AMAL) Q3 2023 Earnings Call Transcript

Chris O’Connell: Great. And just last one for me. Can we get an early look at what the tax rate could be for next year?

Jason Darby: Yes. Right now we think it’s going to be somewhere around 27.5%. It can change Chris I just want to be cautious on that. But being at 27% and we’re going to finish this year we’re targeting 27.4%. We had to go back and do an update to our annual effective tax rate after we became clear that we were going to have higher pretax income. I think we had a little bit of a lower assumption on some of the original estimates when we were earlier in the year and some of the events were unfolding. But based on how we expect to end the year and based on what we think earnings might look like in the forward years I think 27.5% is probably a reasonable estimate at this point Chris and we’ll tighten that up for you when we do our ATR calculation early next year.

Chris O’Connell: Got it. Thanks Jason. Appreciate taking my questions.

Jason Darby: Thanks Chris.

Priscilla Sims Brown: Good question. Thank you.

Operator: Thank you. There are no further questions at this time. And I would like to turn the floor back over to management for closing comments.

Priscilla Sims Brown: Thank you, Camilla and thank you for those very good questions. And of course as Jason mentioned we look forward to next quarter when we can provide a little bit more color as to how the next year looks. So, with that we’d like to as usual invite you to continue to ask your questions. We’re available over the course of the next phase and we like to bid you a good day. Thank you.

Operator: Thank you. This concludes today’s teleconference. You may now disconnect your lines at this time. Thank you for your participation.