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. (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.
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