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 Bank (AMAL) maintains this comprehensive news hub for stakeholders tracking its financial developments and social impact initiatives. As a certified B Corporation and public benefit financial institution, the bank combines traditional banking updates with progress reports on its environmental and community programs.
Investors and analysts will find timely updates including quarterly earnings disclosures, leadership announcements, and strategic partnership developments. Media professionals can monitor AMAL's unique position at the intersection of commercial banking and socially responsible finance through press releases about new trust service offerings and sustainability milestones.
This resource consolidates verified information on three key areas: financial performance metrics, trust and custody service expansions, and community reinvestment initiatives. All content undergoes strict verification to ensure alignment with regulatory standards and the bank's fiduciary responsibilities.
Bookmark this page for direct access to primary source materials about AMAL's operations, including acquisition announcements and updates to its investment management strategies. Regular visitors gain advantage in tracking how the bank's progressive values translate into measurable business outcomes within the commercial banking sector.
Amalgamated Financial Corp. (AMAL) reported its Q1 2023 financial results, showing a net income of $21.3 million or $0.69 per diluted share, down from $24.8 million and $0.80 per share in Q4 2022. Core net income fell to $23.0 million or $0.74 per diluted share. Total deposits increased by $446.4 million (6.8%) to $7.0 billion, though deposits excluding brokered CDs declined by $74.3 million (1.1%). Loans receivable grew by $92.2 million (2.2%) to $4.2 billion. Net interest income remained steady at $67.3 million, with a net interest margin of 3.59%. The bank's capital ratios remain strong, with a Common Equity Tier 1 ratio of 12.23%. Amalgamated's management highlighted their solid capital and liquidity positions, aligning with their 'Growth for Good' strategy.
Amalgamated Financial Corp. (Nasdaq: AMAL) has declared a regular dividend of $0.10 per share, which will be payable on May 24, 2023, to stockholders of record on May 10, 2023. Future dividend payments will depend on the Board of Directors' discretion. As of December 31, 2022, Amalgamated Financial reported total assets of $7.8 billion, total net loans of $4.1 billion, and total deposits of $6.6 billion. Additionally, the company’s trust business held $38.1 billion in assets under custody and $13.4 billion in assets under management. Amalgamated Bank, the company's wholly-owned subsidiary, offers a range of commercial banking and financial services across five branches in major U.S. cities.
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