Amalgamated Financial Corp. reported a net income of $26.8 million, or $0.88 per diluted share, for the third quarter of 2025, a decrease from $27.9 million, or $0.90 per diluted share, in the same period last year. For the nine months ending September 30, 2025, net income was $77.8 million, or $2.53 per diluted share, down from $81.9 million, or $2.65 per diluted share, for the same period in 2024. The decline in profitability was attributed to a $3.5 million increase in the provision for credit losses, a $2.7 million rise in non-interest expenses, and a $2.4 million increase in interest expenses, despite a $6.8 million increase in interest and dividend income.
Total assets for Amalgamated Financial Corp. increased to $8.68 billion as of September 30, 2025, compared to $8.26 billion at the end of 2024. The growth was driven by a $589.4 million increase in deposits, which reached $7.77 billion, and a $119.5 million rise in net loans receivable, totaling $4.73 billion. The company also reported a decrease in borrowings, which fell by $238.9 million to $75.5 million. The allowance for credit losses on loans decreased to $56.5 million from $60.1 million at the end of 2024, reflecting a lower reserve requirement.
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’s commercial loan portfolio comprised 65.7% of total loans as of September 30, 2025, with C&I loans totaling $1.27 billion, multifamily loans at $1.45 billion, and CRE loans at $396.2 million. The retail loan portfolio, which includes residential real estate lending and consumer solar loans, accounted for 34.3% of total loans.
Looking ahead, Amalgamated Financial Corp. aims to continue its growth trajectory by enhancing its product offerings and expanding its market presence. The company is committed to maintaining a socially responsible banking model, which aligns with its mission to serve advocacy-based non-profits and socially responsible businesses. The management anticipates that ongoing investments in technology and customer service will further strengthen its competitive position in the market.
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.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.