Welcome to our dedicated page for Amalgamated Bank. news (Ticker: AMAL), a resource for investors and traders seeking the latest updates and insights on Amalgamated Bank. stock.
Amalgamated Financial Corp. (NASDAQ: AMAL) is the bank holding company for Amalgamated Bank, a New York-based full-service commercial bank and chartered trust company. Through its news flow, the company highlights developments in commercial banking, trust and custody services, and mission-driven finance across its national platform.
News about Amalgamated often covers quarterly and annual financial results, including earnings releases, net interest margin trends, loan and deposit growth, and capital ratios. The company regularly announces conference calls and webcasts to discuss these results, and files related Form 8-Ks to furnish earnings press releases and investor presentations.
Another recurring theme in AMAL news is its values-based and sustainable finance activity. Recent announcements describe commitments to Commercial Property Assessed Clean Energy (C-PACE) lending through partnerships such as the FASTPACE platform, as well as financing arrangements that support energy efficiency, renewable energy, and resiliency upgrades for commercial properties. The bank has also publicized financing commitments to clean energy developers and initiatives aimed at expanding access to rooftop solar and other climate-related projects.
Amalgamated’s news stream also includes items on community development and impact-oriented lending, such as loans to community development financial institutions (CDFIs) that expand access to capital in low-income communities. Dividend declarations, board changes, and other corporate governance updates are reported through press releases and accompanying SEC filings.
Investors, analysts, and other readers following AMAL news can use this page to monitor the company’s reported financial performance, its mission-driven lending activities, and its ongoing communications about strategy, capital allocation, and governance. Because Amalgamated Financial Corp. emphasizes both commercial banking performance and public benefit objectives, its news provides insight into how the institution balances financial metrics with stated social and environmental priorities.
Amalgamated Financial Corp. (Nasdaq: AMAL) has declared a regular dividend of $0.08 per share for common stockholders. The dividend is payable on June 1, 2021 to stockholders of record as of May 14, 2021. Future dividend payments will be determined at the discretion of the Board of Directors. As of March 31, 2021, the company reported total assets of $6.4 billion, net loans of $3.2 billion, and deposits of $5.7 billion.
Amalgamated Financial Corp. (AMAL) reported a first-quarter 2021 net income of $12.2 million, or $0.39 per diluted share, down from $13.8 million in Q4 2020. Core net income was $13.0 million, reflecting adjustments for severance expenses. Deposits increased by $381.4 million to $5.7 billion, while loans decreased by $224.5 million to $3.2 billion due to high prepayment activity. The net interest margin dropped to 2.85%, a decline from both prior quarters. Nonperforming assets slightly decreased to $81 million, representing 1.27% of total assets.
Amalgamated Bank is now a founding member of the Net Zero Banking Alliance, aimed at aligning the banking sector with climate goals set by the Paris Agreement. The alliance was launched in conjunction with the Biden Administration’s Climate Summit, marking a pivotal moment for climate finance. With 25% of U.S. bank assets participating, Amalgamated's leadership in this initiative underscores its commitment to sustainable finance, having previously pledged to not lend to fossil fuel companies. The bank has also aligned with global standards for climate target setting through initiatives like the Partnership for Carbon Accounting Financials (PCAF).
Amalgamated Financial Corp. (AMAL) will release its first quarter 2021 financial results on April 22, 2021, before market open. A conference call is scheduled for 10:00 a.m. Eastern Time the same day for discussions on these results. Interested parties can join the call by dialing specified numbers or accessing a live audio webcast on the company's investor relations website. Amalgamated operates as a socially responsible bank with total assets of $6.0 billion and a trust business managing $15.4 billion in assets, emphasizing its mission-driven approach to finance.
Amalgamated Financial Corp. (Nasdaq: AMAL) announced that Chief Financial Officer Drew LaBenne will leave the company in late April 2021 to pursue a new opportunity outside the banking sector. Jason Darby, the current Chief Accounting Officer, will step in as Interim CFO. LaBenne expressed pride in the company's achievements during his six-year tenure and highlighted its strong financial position. The press release also provided preliminary first-quarter results, noting a $233 million increase in total deposits but a $224 million decrease in total loans.
Amalgamated Bank (NASDAQ: AMAL) has endorsed H.R. 40, urging the Federal Government to establish a commission to study the effects of slavery and explore reparations for African Americans. This makes Amalgamated the first major U.S. bank to support such legislation. The initiative aims to foster a more equitable economy and address historical injustices linked to racism. The bank emphasizes the need for tangible remedies for African Americans and acknowledges its role in advancing social justice throughout its history.
Amalgamated Financial Corp. (NASDAQ: AMAL) announced its transition to a parent bank holding company for Amalgamated Bank as of March 1, 2021. This reorganization marks the Company as the first publicly traded financial institution to register as a public benefit corporation. This status emphasizes their commitment to social and environmental responsibility alongside stockholder returns. With assets totaling $6.0 billion and a trust business holding $36.8 billion in assets, Amalgamated positions itself as a leader in socially responsible banking.
Amalgamated Bank (Nasdaq: AMAL) declared a regular dividend of $0.08 per share, scheduled for payment on March 5, 2021, to stockholders of record by February 19, 2021. Future dividend payments will depend on the Board of Directors' discretion. Amalgamated Bank, established in 1923, operates six branches across major U.S. cities and holds total assets of $6.0 billion and total deposits of $5.3 billion as of December 31, 2020.
Amalgamated Bank (AMAL) reported Q4 2020 net income of $13.8 million ($0.44 per diluted share), up from $12.5 million in Q3 2020 and $12.0 million in Q4 2019. Core net income decreased to $13.8 million from $16.8 million in Q3 2020. Deposits fell by $682.3 million to $5.3 billion due to the election cycle, while total loans decreased to $3.4 billion. The bank's net interest margin rose to 3.06%, but nonperforming assets increased to $82.2 million (1.38% of total assets). For the full year, net income was $46.2 million ($1.48 per diluted share), slightly down from $47.2 million in 2019.
Amalgamated Bank (Nasdaq: AMAL) will release its fourth quarter and full year 2020 financial results on January 28, 2021, before market open. A conference call for investors will follow at 10:00 a.m. ET, where details on the financial performance will be discussed. Interested participants can join via phone or listen to a live audio webcast on the company's website. The replay of the call will be available shortly after its conclusion until February 4, 2021.