Amalgamated Bank. Stock Price, News & Analysis

Amalgamated Financial Corp. (Nasdaq: AMAL) will release its third quarter 2021 financial results before the market opens on October 28, 2021. A conference call will take place at 11:00 a.m. ET that day for discussion of the results. Interested participants can join by calling 1-877-407-9716. A replay will be accessible within two hours of the call's conclusion until November 4, 2021. As of June 30, 2021, Amalgamated Bank's total assets were $6.6 billion, with net loans of $3.1 billion and deposits of $5.9 billion.

Amalgamated Financial Corp. (Nasdaq: AMAL) announced the acquisition of Amalgamated Investments Company for approximately $98.1 million in an all-cash transaction. This strategic move will strengthen AMAL's position as America's largest ESG-focused bank, combining their resources to better serve socially responsible clients across the Midwest. The merger, expected to be completed by year-end 2021, will create a bank with $7.6 billion in assets and enhance operational efficiencies, risk diversification, and customer offerings.

Amalgamated Bank (Nasdaq: AMAL) has partnered with the Women’s National Basketball Players Association (WNBPA) to launch the WNBPA Social Impact Fund, aimed at promoting social justice reform in areas such as racial and gender equity, and voting rights. This unique collaboration includes player-driven content featuring WNBA stars Sue Bird, Natasha Cloud, and Elizabeth Williams discussing personal connections to social justice issues. The Fund will support organizations focused on equity and inclusion. This partnership highlights Amalgamated Bank as a socially responsible institution committed to advancing justice and equality.

On August 5, 2021, Amalgamated Financial Corp. (Nasdaq: AMAL) announced the election of Darrell Jackson to its Board of Directors. With over 30 years of experience in the financial sector, Jackson previously held leadership roles, including President and CEO. Board Chair Lynne Fox expressed confidence in Jackson's ability to bring growth strategies and innovative solutions to Amalgamated. Jackson aims to leverage his expertise to enhance business opportunities and strengthen the bank's assets. As of June 30, 2021, Amalgamated reported total assets of $6.6 billion.

Amalgamated Financial Corp. (AMAL) announced a regular dividend of $0.08 per share for common stockholders, payable on September 1, 2021 to those on record by August 18, 2021. The Board of Directors retains discretion over future dividend payments. As of June 30, 2021, the company's total assets were $6.6 billion, with $3.1 billion in net loans and $5.9 billion in total deposits. Additionally, the trust business managed $16.6 billion in assets. Amalgamated also prides itself on being a certified B Corporation.

Amalgamated Financial Corp. (AMAL) reported net income of $10.4 million, or $0.33 per diluted share, for Q2 2021, a decrease from $12.2 million in Q1 2021. Total deposits grew by $189.9 million to $5.9 billion, with political deposits at $791.3 million. However, loans decreased by $85.4 million to $3.1 billion, while the net interest margin fell to 2.75%. Nonperforming assets improved to $71.0 million, or 1.08% of total assets. The company emphasizes strong deposit growth and is optimistic about future loan demand despite current challenges.

Amalgamated Financial Corp. (Nasdaq: AMAL) will release its second quarter 2021 financial results on July 29, 2021, before market open. A conference call to discuss these results is scheduled for 11:00 a.m. Eastern Time the same day. Investors can join the call by dialing 1-877-407-9716. A live audio webcast will also be available online. The replay of the call will be accessible within two hours after its conclusion and available until August 5, 2021. As of March 31, 2021, Amalgamated held total assets of $6.4 billion and has a strong trust business with $37.5 billion in assets under custody.

Amalgamated Financial Corp. (Nasdaq: AMAL) has appointed Jason Darby as Chief Financial Officer and Senior Executive Vice President, effective immediately. Darby has been serving as interim CFO since April 2021. This leadership change follows the recent appointment of Priscilla Sims Brown as President and CEO, effective June 1, 2021. Board Chair Lynne Fox expressed confidence in Darby’s leadership and expertise, expecting him to drive value for shareholders. As of March 31, 2021, Amalgamated reported total assets of $6.4 billion, total net loans of $3.2 billion, and total deposits of $5.7 billion.

Amalgamated Financial Corp. has appointed Priscilla Sims Brown as its new President and CEO, effective June 1, 2021. With over 30 years in financial services, Brown aims to enhance the bank's growth strategy and reinforce its commitment as America’s socially responsible bank. She previously held senior roles at Commonwealth Bank of Australia and other major firms. Amalgamated aims to broaden its market share within a $90 billion sector focused on social responsibility. The bank holds $6.4 billion in total assets and serves thousands of socially conscious clients.