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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% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 266.51 | 285.71 | 316.48 | 330.46 |
| Pretax Income | 108.16 | 124.73 | 145.59 | 140.16 |
| Tax Provision | 26.69 | 36.75 | 39.16 | 35.71 |
| Net Income | 81.48 | 87.98 | 106.43 | 104.45 |
| Net Income Common Stockholders | 81.45 | 87.98 | 106.43 | 104.45 |
| Interest Expense | 18.65 | 96.77 | 118.87 | 124.44 |
| Interest Income | 258.49 | 358.08 | 401.30 | 422.23 |
| Selling General And Administration | 81.68 | 93.97 | 101.21 | 104.68 |
| Normalized Income | 81.60 | 87.98 | 106.43 | 104.45 |
| Basic EPS | 2.64 | 2.88 | 3.48 | 0 |
| Diluted EPS | 2.61 | 2.86 | 3.44 | 0 |
| Tax Effect Of Unusual Items | -0.04 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.25 | 0.29 | 0.27 | 0.25 |
| Total Unusual Items | -0.17 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -0.17 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 81.48 | 87.98 | 106.43 | 104.45 |
| Reconciled Depreciation | 10.35 | 6.40 | 5.43 | 6.80 |
| Net Interest Income | 239.84 | 261.31 | 282.43 | 297.78 |
| Net Income From Continuing And Discontinued Operation | 81.48 | 87.98 | 106.43 | 104.45 |
| Diluted Average Shares | 31.19 | 30.79 | 30.93 | 0 |
| Basic Average Shares | 30.82 | 30.55 | 30.59 | 0 |
| Diluted NI Availto Com Stockholders | 81.45 | 87.98 | 106.43 | 104.45 |
| Preferred Stock Dividends | 0.02 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | 81.48 | 87.98 | 106.43 | 104.45 |
| Net Income Continuous Operations | 81.48 | 87.98 | 106.43 | 104.45 |
| 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 |
| Amortization | 1.05 | 0.89 | 0.73 | 0.57 |
| Amortization Of Intangibles Income Statement | 1.05 | 0.89 | 0.73 | 0.57 |
| Depreciation Income Statement | 3.01 | 2.83 | 2.47 | 2.15 |
| Selling And Marketing Expense | 3.74 | 4.18 | 3.73 | 2.35 |
| General And Administrative Expense | 77.94 | 89.79 | 97.48 | 102.33 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 3.23 | 4.02 | 3.71 | 3.77 |
| Salaries And Wages | 74.71 | 85.77 | 93.77 | 98.56 |
| Operating Revenue | 266.51 | 285.71 | 316.48 | 330.46 |
| Occupancy And Equipment | 13.72 | 13.61 | 13.08 | 13.38 |
| 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 | $1.2B | 11.84 | 1.49 | 13.1% | - |
| Peoples Bancorp Inc. | PEBO | $1.2B | 10.91 | 0.99 | 8.8% | - |
| Goosehead Insurance, Inc. | GSHD | $1.2B | 41.05 | -11.96 | -29.1% | - |
| Trupanion, Inc. | TRUP | $1.2B | 61.37 | 3.11 | 5.1% | 22.61 |
| Community Trust Bancorp, Inc. | CTBI | $1.2B |
| 11.39 |
| 1.36 |
| 11.5% |
| - |
| Tompkins Financial Corporation | TMP | $1.2B | 7.37 | 1.26 | 17.2% | - |
| Coastal Financial Corporation | CCB | $1.2B | 23.59 | 2.33 | 9.6% | - |
| First Mid Bancshares, Inc. | FMBH | $1.1B | 11.23 | 1.08 | 9.6% | - |
| Atlanticus Holdings Corporation | ATLC | $1.1B | 12.87 | 1.88 | 20.2% | - |
| Peer Median | - | 12.13 | 1.31 | 9.6% | 22.61 | |