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 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.
Amalgamated Financial Corp. (AMAL) reported strong Q2 2024 results with continued deposit growth and solid financial performance. Key highlights include:
- Net income of $26.8 million, or $0.87 per diluted share
- Total deposits increased by $143.2 million to $7.4 billion
- Political deposits grew by $292.3 million to $1.7 billion
- Net interest margin of 3.46%
- Tangible book value per share increased by 22.8% year-over-year to $20.61
- Strong core return on average tangible common equity of 17.34%
The company demonstrated resilience with continued deposit growth, improved capital ratios, and strong returns despite challenging market conditions.
Amalgamated Financial Corp. (Nasdaq: AMAL) has announced a regular quarterly dividend of $0.12 per share. The dividend will be payable on August 22, 2024, to stockholders of record as of August 6, 2024. This decision was made by the company's Board of Directors, demonstrating their commitment to returning value to shareholders. However, it's important to note that future dividend payments will be subject to the Board's discretion, considering factors such as the company's financial performance and market conditions.
Amalgamated Financial Corp. (Nasdaq: AMAL) announced that it will release its second quarter 2024 financial results on July 25, 2024, before market open. The company will also host a conference call at 11:00 a.m. Eastern Time the same day to discuss these results. Interested investors and analysts can join the call by dialing specific numbers provided or by accessing a live audio webcast available on Amalgamated's investor relations website. A replay of the conference call will be accessible online and via telephone until August 1, 2024.
Blue Wolf Capital Partners has appointed Steve Sleigh as a Senior Advisor, succeeding Mike Musuraca, who retired after over a decade of service. Sleigh brings extensive experience from his consultancy, Sleigh Strategy, and previous roles in labor and investment realms. His expertise will aid Blue Wolf in labor management, new investments, and expanding partnerships with labor unions and institutional investors. This move continues Blue Wolf's tradition of integrating labor strategies to manage complexity and drive growth.
Amalgamated Financial Corp. announced an additional $85 million investment to fund Residential Property Assessed Clean Energy (R-PACE) assessments through its partnership with Home Run Finance. As of March 31, 2024, the company has funded over 21,000 R-PACE assessments, with a total book value surpassing $1.1 billion for both commercial and residential PACE assessments. This initiative aims to address environmental sustainability and improve access to affordable home improvement financing in markets like California, Florida, and Missouri.
Amalgamated Financial Corp. announced the completion of three community solar projects in Oregon, with three more expected by Q3 2024. The company financed the developments with a $25 million construction term facility to SolRiver Capital. The projects will be sold to a tax equity partnership, supporting the Oregon Community Solar Program.