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.
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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.
Amalgamated Financial Corp. (Nasdaq: AMAL) will release its first quarter 2023 financial results on April 27, 2023, before market open. Following the release, the Company will conduct a conference call at 11:00 a.m. ET to discuss the results. Investors can participate by dialing 1-877-407-9716 (or 1-201-493-6779 for international callers) about ten minutes prior to the call. A live audio webcast will be accessible at the Company’s website. A replay of the call will be available shortly after its conclusion, accessible via the same link and by phone until May 4, 2023.
Amalgamated is a public benefit corporation providing commercial banking and financial services, with total assets of $7.8 billion, net loans of $4.1 billion, and deposits of $6.6 billion as of December 31, 2022.
Amalgamated Financial Corp. (AMAL) reported strong fourth quarter 2022 results with net income of $24.8 million, or $0.80 per diluted share, versus $22.9 million in Q3 2022. Core net income was $27.2 million, up from $24.8 million. Full-year net income reached $81.5 million, a significant increase from $52.9 million in 2021. Total loans rose by $784.6 million (23.9%) to $4.1 billion. However, total deposits decreased by $565.3 million (7.9%) to $6.6 billion, primarily due to the end of political campaign deposits. The net interest margin improved to 3.56%. The company maintains robust capital ratios above regulatory standards.
Amalgamated Financial Corp. (Nasdaq: AMAL) announced a regular dividend of $0.10 per share for common stockholders. This dividend is payable on February 20, 2023, to stockholders of record by February 6, 2023. Future dividends will be determined at the discretion of the Board of Directors. As of September 30, 2022, Amalgamated Financial reported total assets of $7.9 billion, total net loans of $3.8 billion, and total deposits of $7.2 billion, showcasing solid financial standings in the commercial banking sector.