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Amalgamated Financial Corp. operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services in the United States. It accepts various deposit products, including non-interest-bearing accounts, interest-bearing demand products, savings accounts, money market accounts, NOW accounts, time deposits, and certificates of deposit. The company also provides commercial and industrial, multifamily mortgage, commercial real estate, residential real estate mortgage, consumer solar, and consumer and other loans. In addition, it offers online banking, bill payment, online cash management, safe deposit box rentals, debit card, and ATM card services; and trust, custody, and investment management services, including asset safekeeping, corporate actions, income collections, proxy services, account transition, asset transfers, and conversion management. Further, the company provides investment products, such as index and actively-managed funds, which include equity, fixed-income, real estate, and alternative investments; and investment, brokerage, asset management, and insurance products, as well as lending services. Amalgamated Financial Corp. was founded in 1923 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $330M | - | $104M | $134M | 13.1% | 4.4% | -1.9% |
| 2024 | $316M | - | $106M | $122M | 15.0% | 10.8% | 21.0% |
| 2023 | $286M | - | $88M | $116M | 15.0% | 7.2% | 8.0% |
| 2022 | $267M | - | $81M | $146M | 16.0% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 266.51 | 285.71 | 316.48 | 330.46 |
| Operating Revenue | - | 266.51 | 285.71 | 316.48 | 330.46 |
| Selling General And Administration | - | 81.68 | 93.97 | 101.21 | 104.68 |
| Interest Income | - | 258.49 | 358.08 | 401.30 | 422.23 |
| Interest Expense | - | 18.65 | 96.77 | 118.87 | 124.44 |
| Net Interest Income | - | 239.84 | 261.31 | 282.43 | 297.78 |
| Pretax Income | - | 108.16 | 124.73 | 145.59 | 140.16 |
| Tax Provision | - | 26.69 | 36.75 | 39.16 | 35.71 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.04 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 81.48 | 87.98 | 106.43 | 104.45 |
| Net Income From Continuing And Discontinued Operation | - | 81.48 | 87.98 | 106.43 | 104.45 |
| Net Income From Continuing Operation Net Minority Interest | - | 81.48 | 87.98 | 106.43 | 104.45 |
| Net Income | - | 81.48 | 87.98 | 106.43 | 104.45 |
| Net Income Common Stockholders | - | 81.46 | 87.98 | 106.43 | 104.45 |
| Net Income Including Noncontrolling Interests | - | 81.48 | 87.98 | 106.43 | 104.45 |
| Normalized Income | - | 81.60 | 87.98 | 106.43 | 104.45 |
| Diluted NI Availto Com Stockholders | - | 81.46 | 87.98 | 106.43 | 104.45 |
| Basic Average Shares | 31.10 | 30.82 | 30.56 | 30.59 | - |
| Diluted Average Shares | 31.51 | 31.19 | 30.78 | 30.93 | - |
| Reconciled Depreciation | - | 10.35 | 6.40 | 5.43 | 6.80 |
| Total Unusual Items | -0.41 | -0.17 | 0 | 0 | - |
| Total Unusual Items Excluding Goodwill | -0.41 | -0.17 | 0 | 0 | - |
| Preferred Stock Dividends | 0.02 | 0.02 | - | - | - |
| Gain On Sale Of Security | - | -3.64 | -7.39 | -9.70 | -3.43 |
| Depreciation Amortization Depletion Income Statement | - | 4.06 | 3.72 | 3.20 | 2.72 |
| Depreciation And Amortization In Income Statement | - | 4.06 | 3.72 | 3.20 | 2.72 |
| General And Administrative Expense | - | 77.94 | 89.79 | 97.48 | 102.33 |
| Other Gand A | 16.04 | - | - | - | - |
| Salaries And Wages | - | 74.71 | 85.77 | 93.77 | 98.56 |
| Insurance And Claims | - | 3.23 | 4.02 | 3.72 | 3.78 |
| Selling And Marketing Expense | - | 3.74 | 4.18 | 3.73 | 2.35 |
| Amortization | - | 1.05 | 0.89 | 0.73 | 0.57 |
| Amortization Of Intangibles Income Statement | - | 1.05 | 0.89 | 0.73 | 0.57 |
| Occupancy And Equipment | - | 13.72 | 13.60 | 13.08 | 13.38 |
| Depreciation Income Statement | - | 3.01 | 2.83 | 2.47 | 2.14 |
| Professional Expense And Contract Services Expense | - | 10.42 | 9.64 | 9.96 | 14.30 |
| Other Non Interest Expense | - | 30.69 | 30.31 | 32.32 | 37.16 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Amalgamated Financial Corp.this co. | AMAL | $1.3B | 12.12 | 1.59 | 13.1% | - |
| Burke & Herbert Financial Services Corp. | BHRB | $1.3B | 10.93 | 1.52 | 13.9% | - |
| Goosehead Insurance, Inc. | GSHD | $1.3B | 32.20 | - | -41.5% | - |
| ProAssurance Corporation | PRA | $1.3B | 24.86 | 0.94 | 3.8% | - |
| Peoples Bancorp Inc. | PEBO |
| - |
| - |
| - |
| - |
| - |
| - |
| $1.3B |
| 11.90 |
| 1.04 |
| 8.8% |
| - |
| Tompkins Financial Corporation | TMP | $1.2B | 7.74 | 1.33 | 17.2% | - |
| Atlanticus Holdings Corporation | ATLC | $1.2B | 10.17 | 2.04 | 20.1% | - |
| Community Trust Bancorp, Inc. | CTBI | $1.2B | 12.51 | 1.43 | 11.5% | - |
| OppFi Inc. | OPFI | $1.2B | 46.23 | 20.81 | 45.0% | 3.87 |
| Peer Median | - | 12.20 | 1.43 | 12.7% | 3.87 | |