Amalgamated Financial Corp. reported a net income of $25.99 million for the second quarter of 2025, translating to earnings of $0.84 per diluted share, a slight decrease from $26.75 million or $0.87 per diluted share in the same period last year. For the first half of 2025, net income totaled $51.01 million, down from $54.00 million in the prior year. The decline in profitability was attributed to a $1.7 million increase in the provision for credit losses, a $1.4 million rise in interest expenses, and a $1.2 million drop in non-interest income, despite an increase of $5.1 million in interest and dividend income.

Total assets for Amalgamated Financial Corp. reached $8.62 billion as of June 30, 2025, up from $8.26 billion at the end of 2024. The increase was driven by a $552.67 million rise in deposits, which totaled $7.73 billion, and a $242.7 million increase in securities, which amounted to $1.89 billion. Loans receivable also saw a modest increase, rising to $4.66 billion from $4.61 billion. The company’s allowance for credit losses stood at $58.99 million, representing 1.25% of total loans.

In terms of operational developments, Amalgamated Financial Corp. has focused on expanding its commercial and retail banking services, with a particular emphasis on C&I, multifamily, and commercial real estate lending. The company has also maintained a strong commitment to socially responsible banking, as evidenced by its B Corporation certification and membership in the Global Alliance for Banking on Values. As of June 30, 2025, the company had approximately 30,412,241 shares outstanding, reflecting a slight decrease in share count due to stock repurchases.

Looking ahead, Amalgamated Financial Corp. anticipates continued growth in its loan portfolio, particularly in the commercial sectors, while managing credit risk through a robust allowance for credit losses. The company remains vigilant regarding market conditions and potential economic fluctuations that could impact its financial performance. The management has expressed confidence in its strategic direction and operational resilience, aiming to enhance shareholder value while fulfilling its mission-driven objectives.

About Amalgamated Financial Corp.

Amalgamated Financial Corp. is a bank holding company for Amalgamated Bank, a full-service commercial bank focused on socially responsible banking. It offers commercial and retail banking, lending, trust, custody, and investment management services primarily to mission-aligned clients such as labor unions, nonprofits, and impact businesses. Operating mainly in New York, Washington, D.C., San Francisco, and Boston, it emphasizes values-driven relationships, sustainable finance, and personalized service.

This description was generated via AI from an annual report. Updated 8 months ago.

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