Amalgamated Financial(NASDAQ) AMAL

Amalgamated Financial Corp. NASDAQ:AMAL helps people fund social change. It offers bank accounts and loans for mission-driven groups. The bank serves labor unions and nonprofits nationwide.

Banking for Social Change

• Commercial Banking: Business loans and cash management for companies; focuses on mission-aligned groups like nonprofits and labor unions.
• Consumer Banking: Traditional deposit accounts and residential mortgages; includes a consumer solar loan portfolio currently in run-off mode.
• Trust and Investment Management: Asset custody and advisory services for large accounts; held $39.41 billion in assets under custody at June 30, 2026.

Modernizing for the Future

• Partnered with Embrace Home Loans in February 2026 to refer residential mortgage customers.
• Funded modernization projects in 2026 to improve core banking technology.
• Adopted a strategy to wind down the consumer solar loan portfolio.
• Moved headquarters and branch locations during 2026 to manage costs and talent.

A Mission-Driven Business

Amalgamated is the largest U.S. commercial bank in the Global Alliance for Banking on Values. It holds B Corporation certification for meeting high social and environmental standards. The firm also manages $17.24 billion in assets for clients as of June 30, 2026.

Key 2026 Financial Data

• Net interest income grew 18.1% to $86.1 million for the three months ended June 30, 2026.
• Net income reached $60.0 million for the six-month period ended June 30, 2026.
• Total deposits grew to $8.46 billion at June 30, 2026, from $7.95 billion at Dec. 31, 2025.
• Provision for credit losses reached $17.9 million for the six months ended June 30, 2026.

Bottom Line

Amalgamated has grown from its labor union roots into a national mission-driven bank. It successfully combines traditional commercial banking with a focus on social and environmental impact.