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. reports news as a Delaware public benefit corporation and bank holding company for Amalgamated Bank, a New York-based full-service commercial bank and chartered trust company. Company updates focus on commercial and retail banking, trust and custody services, investment management, deposit gathering, loan growth, net interest margin, capital ratios, and liquidity.
Recurring announcements include quarterly financial results, earnings conference calls, common-stock dividends, and balance-sheet trends across commercial and industrial, commercial real estate, multifamily, retail banking, and political deposits. News also covers mission-aligned banking activity, including community development lending through Amalgamated Bank, and references the bank's national trust services, branch network in New York City, Washington, D.C., and San Francisco, and commercial office in Boston.
Amalgamated Bank (Nasdaq: AMAL) will participate in a fireside chat at the Barclays Global Financial Services Conference on September 14, 2020, at 1:15 p.m. ET. CEO Keith Mestrich and CFO Drew LaBenne will speak, with a live webcast available on the bank's Investor Relations website. The bank, founded in 1923, operates 11 branches across New York City, Washington D.C., and San Francisco, providing a range of commercial banking and trust services. As of June 30, 2020, it reported total assets of $6.5 billion and total deposits of $5.9 billion.
Amalgamated Bank (Nasdaq: AMAL) declared a regular dividend of $0.08 per share, payable on September 3, 2020, to shareholders of record on August 19, 2020. The decision regarding future dividends will be at the discretion of the Company’s Board of Directors. Established in 1923, Amalgamated Bank serves as a full-service commercial bank with total assets of $6.5 billion and total deposits of $5.9 billion as of June 30, 2020. It operates 11 branches across New York City, Washington D.C., and San Francisco.
Amalgamated Bank (AMAL) reported second-quarter 2020 net income of $10.4 million, or $0.33 per diluted share, a rise from $9.5 million in Q2 2019. Core net income was $10.6 million, or $0.34 per diluted share. Deposit growth surged by $793.8 million, equating to 62.9% annualized growth, while loans increased by $123.0 million. The net interest margin decreased to 3.10%. The bank's nonperforming assets rose to $74.3 million, 1.15% of total assets. CEO Keith Mestrich highlighted a commitment to social responsibility amidst the pandemic's challenges.
Amalgamated Bank (Nasdaq: AMAL) will release its second quarter 2020 financial results on July 28, 2020, before market opening. A conference call to discuss these results is scheduled for 10:00 a.m. Eastern Time the same day. Investors can join the call by dialing 1-877-407-9716 or via a live audio webcast on their website. A replay will be accessible within two hours post-call and will be available until August 4, 2020. As of March 31, 2020, Amalgamated's total assets were $5.8 billion, net loans were $3.5 billion, and total deposits stood at $5.1 billion.
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