Headquartered in New York, NY Fiscal year ends December NASDAQ: AMAL amalgamatedbank.com
Amalgamated Financial Corp. is a Delaware public benefit corporation and bank holding company for Amalgamated Bank, a New York-based commercial bank and chartered trust company founded in 1923 by the Amalgamated Clothing Workers of America. The bank provides commercial banking and trust services with offices in New York City, Washington D.C., Northern California, and Boston. Amalgamated serves mission-aligned market segments including labor unions, not-for-profit organizations, political organizations, social and philanthropic entities, and climate/sustainability-focused clients. The bank manages approximately $37.4 billion in trust assets under custody and $17.0 billion in trust assets under management. Its loan portfolio is concentrated in commercial and industrial lending, multifamily real estate, and Property Assessed Clean Energy (PACE) assessments, with a significant portion of deposits derived from politically active customers including campaigns, PACs, and party committees. Amalgamated is a certified B Corporation and member of the Global Alliance for Banking on Values. Updated
Nonperforming assets jumped to 1.08% of total assets from 0.26% a year ago, driven by one $78 million multifamily borrower relationship. That is the offset investors have to price against management raising full-year guidance again.
Amalgamated Financial reports at 6:25 AM ET, confirmed, with consensus at $1.08 EPS on $98.19 million in revenue. It has beaten in three of the last four quarters, and the lone miss in March cost 15.79%, so the margin commentary here sets the tone for small-cap regional banks.
Amalgamated Financial Corp. is a Delaware public benefit corporation and bank holding company for Amalgamated Bank, a New York-based commercial bank and chartered trust company founded in 1923 by the Amalgamated Clothing Workers of America.
The Wall Street consensus 12-month price target for AMAL is $55.33.