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 declared a regular dividend of $0.08 per share for common stockholders. This dividend will be payable on December 1, 2021, to stockholders of record on November 19, 2021. The future dividend payments will depend on the discretion of the Board of Directors. As of September 30, 2021, the company reported total assets of $6.9 billion, total net loans of $3.1 billion, and total deposits of $6.2 billion.
Amalgamated Financial Corp. (Nasdaq: AMAL) reported a net income of $14.4 million or $0.46 per diluted share for Q3 2021, up from $10.4 million or $0.33 in Q2 2021. Deposits increased by $314.5 million to $6.2 billion, with political deposits at $1.0 billion. The bank's net interest margin decreased to 2.70%. Nonperforming assets improved to 0.99% of total assets. The company announced plans to acquire Amalgamated Bank of Chicago, expanding its assets to over $7.6 billion. Management expressed optimism regarding future growth and operational initiatives.
Amalgamated Bank announced a commitment to achieve 49% reductions in greenhouse gas emissions by 2030 and net zero emissions by 2045, five years ahead of the global deadline. As the first U.S. bank to set targets in line with the UN Net Zero Banking Alliance, the bank's detailed report outlines strategies for client engagement and new financing streams. The targets are pending validation by the Science Based Targets initiative (SBTi). A virtual panel discussion on these goals will take place on November 1, 2021.
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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.