Amalgamated Financial Corp. reported significant financial performance improvements in its latest 10-Q filing for the quarter ending June 30, 2026. The company achieved a net income of $34.8 million, or $1.15 per diluted share, compared to $26.0 million, or $0.84 per diluted share, for the same period in 2025. For the first half of 2026, net income reached $60.0 million, up from $51.0 million in the prior year. This increase was primarily driven by a $13.1 million rise in interest and dividend income, alongside a $3.0 million increase in service charges on deposit accounts.
Total assets for Amalgamated Financial Corp. grew to $9.41 billion as of June 30, 2026, up from $8.87 billion at the end of 2025. The increase in assets was supported by a $509.2 million rise in deposits, which totaled $8.46 billion, and a $180.4 million increase in net loans receivable, which reached $5.08 billion. The company’s securities portfolio also expanded, with available-for-sale securities increasing to $2.24 billion from $1.78 billion.
In terms of operational developments, Amalgamated Financial Corp. reported a notable increase in its loan portfolio, particularly in multifamily loans, which rose by 13.2% to $1.86 billion. The commercial loan portfolio, which includes commercial and industrial loans, accounted for 70.3% of total loans, reflecting the company's strategic focus on these areas. The allowance for credit losses increased to $68.9 million, or 1.34% of total loans, primarily due to specific reserves established for a single borrower relationship that moved to nonaccrual status.
Looking ahead, Amalgamated Financial Corp. remains optimistic about its growth trajectory, emphasizing its commitment to socially responsible banking and expanding its market presence. The company continues to focus on enhancing its product offerings and customer relationships, particularly in its commercial banking and trust services. The management anticipates that ongoing investments in technology and operational efficiencies will further bolster its financial performance in the coming quarters.
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.
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