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.
GS Power Partners (GSPP) has secured a $22 million term financing commitment from Amalgamated Bank (AMAL) for five community solar projects in New York, totaling 25.5 megawatts (MWdc).
The projects include:
- East Road North and East Road South in Lowville, expected to start operations next month
- Little Bow North and Little Bow South in Gouverneur, completed in December 2023
- Fox Road project in Marcy, completed in May 2023
The partnership aims to provide clean energy access to hundreds of New Yorkers through these community solar installations, demonstrating successful public-private collaboration in expanding renewable energy infrastructure.
Amalgamated Financial Corp. (Nasdaq: AMAL) has announced a new $40 million share repurchase program for its Class A common stock, replacing the previous authorization which had $18.7 million remaining as of December 31, 2024.
According to President and CEO Priscilla Sims Brown, the company is experiencing momentum with rebuilding political deposit balances post-election cycle and growing business production pipeline. The company believes its current share price doesn't reflect this momentum or future growth opportunities.
The new repurchase program has no expiration date and can be modified or suspended at the company's discretion. The timing, quantity, and value of share purchases will be determined by management based on factors including stock price performance, capital planning, market conditions, and legal requirements.
Amalgamated Financial Corp. (AMAL) reported strong Q4 2024 results with net income of $24.5 million ($0.79 per diluted share) and core net income of $28.0 million ($0.90 per diluted share). The company showed solid performance with net interest margin expanding to 3.59% and net interest income growing to $73.1 million.
Key highlights include: net loans receivable increase of $126.4 million (2.8%) to $4.6 billion; total deposits decrease of $414.0 million to $7.2 billion following election cycle conclusion; and strong capital position with Common Equity Tier 1 ratio at 13.90%. The company maintained robust liquidity with $3.2 billion available within two days, covering 86% of uninsured deposits.
Full-year 2024 performance showed a 20.9% increase in net income to $106.4 million compared to 2023, with tangible book value per share rising 20.6% to $22.60.
Amalgamated Financial Corp. (Nasdaq: AMAL) has announced a significant increase in its quarterly dividend. The Board of Directors approved a $0.02 increase, raising the dividend by 17% to $0.14 per common share. The dividend will be paid on February 27, 2025, to stockholders of record as of February 11, 2025. Future dividend payments will remain subject to the Board's discretion regarding amount and timing.
Amalgamated Financial Corp. (Nasdaq: AMAL) has scheduled the release of its fourth quarter and full year 2024 financial results for Thursday, January 23, 2025, before market open. The company will host a conference call at 11:00 a.m. Eastern Time on the same day to discuss the results.
Investors and analysts can participate by dialing 1-877-407-9716 (international: 1-201-493-6779) approximately 10 minutes before the call. A live audio webcast will be available on the company's investor relations website. A replay will be accessible until January 30, 2025, both online and via phone (1-844-512-2921; international: 1-412-317-6671) using pin 13750453.
Amalgamated Financial Corp. (AMAL) reported strong Q3 2024 results with net income of $27.9 million, or $0.90 per diluted share. Key highlights include a net interest margin expansion to 3.51% and total deposits increase of $145.6 million to $7.6 billion. The company demonstrated solid growth with tangible book value per share increasing 27.9% YoY to $22.29. Net loans receivable grew by $78.0 million to $4.5 billion, while political deposits increased by $231.9 million to $2.0 billion. The bank maintained strong capital ratios with a Tier 1 leverage ratio of 8.63% and Common Equity Tier 1 ratio of 13.82%.
Amalgamated Financial Corp. (Nasdaq: AMAL) has announced a regular quarterly dividend of $0.12 per share for its common stockholders. The dividend will be payable on November 21, 2024, to stockholders of record as of November 5, 2024. This decision was made by the company's Board of Directors.
It's important to note that the amount and timing of future dividend payments will be subject to the discretion of the Board of Directors. This announcement demonstrates Amalgamated's commitment to providing returns to its shareholders while maintaining flexibility in its financial strategy.
Amalgamated Financial Corp. (Nasdaq: AMAL) has announced the release date for its third quarter 2024 financial results. The results will be made public before market open on Thursday, October 24, 2024. Following the release, the company will host a conference call at 11:00 a.m. Eastern Time to discuss the financial outcomes.
Investors and analysts can participate in the call by dialing 1-877-407-9716 (or 1-201-493-6779 for international callers) about 10 minutes before the call starts. A live audio webcast will also be available on the company's investor relations website. For those unable to attend, a replay of the call will be accessible until October 31, 2024, both online and via phone using the pin 13748697.
Amalgamated Bank, a subsidiary of Amalgamated Financial Corp. (Nasdaq: AMAL), has released its 2023 Environmental, Social and Governance (ESG) Report. The report highlights the bank's commitment to ESG principles and its impact on clients and investors. Key achievements include:
- B-Corp recertification with a score of 155.3
- Over $2 billion in funding for climate solutions (39% of lending portfolio)
- 70% of lending portfolios are high-impact and 100% mission-aligned
- Industry-leading emissions intensity of 14.7 tons CO2e per million dollars invested
- Supported clean energy projects resulting in 243,010 tons of avoided emissions
- Achieved substantial pay parity for women and minorities
- Received a perfect score on the Human Rights Campaign Foundation's Corporate Index
The bank remains committed to aligning its business practices with the Paris Climate Agreement goals and continues to develop financial products prioritizing environmental and social benefits alongside financial returns.
Amalgamated Financial Corp. (Nasdaq: AMAL) has announced the appointment of Nicole Steele as Director of Climate Partnership Banking and Emily Robichaux as Director of Climate Partnership Lending. These experts will lead the bank's efforts to execute on the $27B Greenhouse Gas Reduction Fund (GGRF). Steele, with over 20 years of experience in clean energy, was instrumental in developing GGRF programs at the EPA. Robichaux, rejoining Amalgamated from Opportunity Finance Network, secured over $2bn for community clean energy projects.
As a founder of the UN Net Zero Banking Alliance and the first US bank to set net zero targets validated by SBTi, Amalgamated is strengthening its position in sustainability finance. The bank is certified as Fossil Fuel free, with 64% of its lending meeting 'High Impact' criteria and 100% mission-aligned, including $547 million in Climate Protection loans and $1.2 billion in Property Assessed Clean Energy assets.
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