Amalgamated Financial Corp. (AMAL) Q2 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 24 2025
0mins
Should l Buy AMAL?
Source: SeekingAlpha
Core Earnings Per Share (EPS) $0.88, achieved through a flexible banking model and strong performance, competing among the best-run banks in the country.
On-Balance Sheet Deposit Growth $209 million (excluding $112 million temporary deposits), driven by political deposits increasing by $137 million (13%) to $1.2 billion and not-for-profit segment deposits growing by over $100 million.
Loan Growth $60 million (2%), primarily in multifamily, CRE, and C&I portfolios, despite higher early payoffs and paydowns. Consumer solar and residential real estate loans declined as they are being deemphasized.
Loan Portfolio Growth (2021-2025) Increased from $3.1 billion to $4.7 billion (10% compound annual growth rate). PACE portfolio grew at 22% compound annual growth rate to $1.2 billion.
Net Income $26 million or $0.84 per diluted share. Core net income was $27 million or $0.88 per diluted share.
Net Interest Income (NII) Grew by 3.3% to $72.9 million, with a net interest margin of 3.55%. Growth was driven by balance sheet expansion of 2.8% to $8.45 billion.
Tangible Book Value Per Share Increased by $0.82 (3.5%) to $24.33, growing 18% over the past 4 quarters.
Core Return on Average Equity 14.61%, a decline from 15.23% in the prior quarter due to organic capital build.
Core Return on Average Assets 1.28%, a decline due to planned larger balance sheet size.
CET1 Ratio 14.13%, a modest decrease of 15 basis points, reflecting strong balance sheet and conservative risk allocation.
Share Repurchases 327,000 shares repurchased for $9.7 million, the largest in the bank's history, with $30 million authorized availability remaining.
On-Balance Sheet Deposits Increased by $321 million (4.3%) to $7.7 billion, excluding temporary deposits, the increase was $208.9 million (2.8%).
Loan Portfolio Composition Growth in multifamily loans ($34.2 million), C&I loans ($13.5 million), and CRE loans ($13.1 million). Declines in consumer loans ($11 million) and residential loans ($11.8 million).
Allowance for Credit Losses Increased by $1.3 million to $59 million, with a ratio of 1.25% of total loans, reflecting macroeconomic forecasts and specific loan reserves.
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Analyst Views on AMAL
Wall Street analysts forecast AMAL stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMAL is 28.00 USD with a low forecast of 28.00 USD and a high forecast of 28.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 40.230
Low
28.00
Averages
28.00
High
28.00
Current: 40.230
Low
28.00
Averages
28.00
High
28.00
About AMAL
Amalgamated Financial Corp. is a bank holding company engaged in commercial banking and financial services through its wholly owned subsidiary, Amalgamated Bank (the Bank). The Bank is a full-service commercial bank and a chartered trust company with a combined network of five branches across New York City, Washington D.C., and San Francisco, and a commercial office in Boston. The Bank provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. The Bank’s corporate divisions include commercial banking, trust and investment management and consumer banking. The Bank’s product line includes residential mortgage loans, commercial and industrial (C&I) loans, commercial real estate (CRE) loans, multifamily loans, consumer loans (predominantly residential solar) and a variety of commercial and consumer deposit products, including non-interest-bearing accounts, interest-bearing demand products, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Embrace Home Loans Partners with Amalgamated Bank for Mortgage Financing
- Strategic Partnership: Embrace Home Loans has entered into an agreement with Amalgamated Bank to provide residential mortgage financing, enhancing customer loan options and service experience.
- Product Innovation: Through Embrace's 'Approved to Close' program, customers can receive a cash guarantee of up to $10,000, making their home purchase bids more attractive and increasing their chances of success.
- Personalized Support: Customers of Amalgamated Bank will benefit from dedicated loan officers at Embrace, ensuring they receive professional and reliable service throughout the loan process, thereby strengthening client relationships.
- Market Positioning Enhancement: This collaboration enables Amalgamated Bank to advance its broader strategic goals while maintaining strong client relationships, thereby enhancing its competitive position in the market.
See More
Embrace Home Loans Partners with Amalgamated Bank for Mortgage Financing
- Strategic Partnership: Embrace Home Loans has entered into an agreement with Amalgamated Bank to provide residential mortgage financing, aiming to enhance customer experience through a specially designed platform, thereby strengthening both parties' competitive positions in the market.
- Expanded Product Offerings: Amalgamated Bank's customers now have access to a variety of mortgage products from Embrace, including the unique 'Approved to Close' program, which offers buyers a cash guarantee of up to $10,000, making their bids more attractive and driving home sales.
- Personalized Support Services: With dedicated loan officers from Embrace, Amalgamated Bank's customers will receive tailored loan support, which not only enhances customer satisfaction but also strengthens the trust relationship between the bank and its clients, promoting long-term customer loyalty.
- Strengthened Market Positioning: This partnership enables Amalgamated Bank to maintain strong client relationships while advancing its strategic goals, ensuring that customers experience stability and confidence throughout the loan process, thereby enhancing overall business performance.
See More
Amalgamated Financial Corp. (AMAL) Reports Q4 2025 Core Earnings of $0.99
- Core Earnings Growth: Amalgamated Financial Corp. reported core earnings of $0.99 per diluted share for Q4 2025, demonstrating the consistency of its earnings power and setting a solid foundation for future shareholder returns.
- Record Deposit Growth: The bank attracted nearly $1 billion in new deposits, with political deposits rising to $1.7 billion, surpassing previous records and indicating strong customer acquisition even in a non-election year, enhancing its competitive position.
- Loan Portfolio Expansion: Total loans increased to $4.9 billion, up 3.5%, with growth-mode portfolios like multifamily and commercial real estate rising by 7%, showcasing the bank's robust performance and diversification strategy in the lending market.
- Optimistic Future Outlook: The bank anticipates net interest income growth of 10% to 11% in 2026, aiming to cross $10 billion in assets, with management expressing confidence in sustaining growth and adaptability in evolving market conditions.
See More
Amalgamated Bank Q4 Non-GAAP EPS Beats by $0.08
- Earnings Performance: Amalgamated Bank reported a Q4 Non-GAAP EPS of $0.99, exceeding expectations by $0.08, indicating sustained profitability that may boost investor confidence.
- Revenue Growth: The bank's revenue of $85.2 million in Q4, up 9.4% year-over-year, fell short of market expectations by $0.17 million, reflecting challenges in the changing economic environment that could impact future growth outlook.
- Net Interest Margin Expansion: The net interest margin expanded by 6 basis points to 3.66%, demonstrating the bank's effective asset-liability management in the current interest rate environment, potentially laying the groundwork for future interest income growth.
- Net Interest Income Increase: Net interest income rose by $1.4 million, or 1.8%, to $77.9 million, showcasing the bank's robust performance in loan and investment portfolio management, which supports overall financial health.
See More
Amalgamated Financial Corp. Reports Q4 Profit Increase to $26.639 Million
- Profit Growth: Amalgamated Financial Corp. reported a fourth-quarter profit of $26.639 million, translating to an earnings per share (EPS) of $0.88, which marks a significant increase from last year's $24.491 million and $0.79 EPS, indicating improved profitability.
- Adjusted Earnings: Excluding items, the company reported adjusted earnings of $29.965 million, or $0.99 per share, reflecting strong core business performance and ongoing improvements in profitability.
- Increased Interest Income: The net interest income for the fourth quarter was $77.851 million, up from $73.095 million in the same period last year, demonstrating enhanced competitiveness in the lending and interest rate environment.
- Loan and Deposit Growth: Total net loans receivable rose to $4.9 billion from $4.612 billion a year ago, while total deposits increased from $7.180 billion to $7.9 billion, indicating growing customer trust and an expansion in market share.
See More
Amalgamated Bank (AMAL) Declares $0.17 Quarterly Dividend, 21.4% Increase
- Dividend Increase: Amalgamated Bank has declared a quarterly dividend of $0.17 per share, marking a 21.4% increase from the previous $0.14, which reflects the company's ongoing profitability and is likely to attract more investor interest.
- Earnings Outlook: The bank outlines a 2025 earnings target of $164 million to $165 million, indicating accelerated loan and deposit growth, which suggests an improving competitive position in the market.
- Financial Performance: Amalgamated Bank reported a non-GAAP EPS of $0.91, beating estimates by $0.03, with revenue of $85.61 million exceeding expectations by $2.28 million, showcasing its robust financial health.
- Dividend Payment Schedule: The dividend is payable on February 19, with a record date of February 3 and an ex-dividend date also on February 3, ensuring shareholders receive timely returns and bolstering investor confidence.
See More
Embrace Home Loans Partners with Amalgamated Bank for Mortgage Financing
- Strategic Partnership: Embrace Home Loans has entered into an agreement with Amalgamated Bank to provide residential mortgage financing, enhancing customer loan options and service experience.
- Product Innovation: Through Embrace's 'Approved to Close' program, customers can receive a cash guarantee of up to $10,000, making their home purchase bids more attractive and increasing their chances of success.
- Personalized Support: Customers of Amalgamated Bank will benefit from dedicated loan officers at Embrace, ensuring they receive professional and reliable service throughout the loan process, thereby strengthening client relationships.
- Market Positioning Enhancement: This collaboration enables Amalgamated Bank to advance its broader strategic goals while maintaining strong client relationships, thereby enhancing its competitive position in the market.
See More
Embrace Home Loans Partners with Amalgamated Bank for Mortgage Financing
- Strategic Partnership: Embrace Home Loans has entered into an agreement with Amalgamated Bank to provide residential mortgage financing, aiming to enhance customer experience through a specially designed platform, thereby strengthening both parties' competitive positions in the market.
- Expanded Product Offerings: Amalgamated Bank's customers now have access to a variety of mortgage products from Embrace, including the unique 'Approved to Close' program, which offers buyers a cash guarantee of up to $10,000, making their bids more attractive and driving home sales.
- Personalized Support Services: With dedicated loan officers from Embrace, Amalgamated Bank's customers will receive tailored loan support, which not only enhances customer satisfaction but also strengthens the trust relationship between the bank and its clients, promoting long-term customer loyalty.
- Strengthened Market Positioning: This partnership enables Amalgamated Bank to maintain strong client relationships while advancing its strategic goals, ensuring that customers experience stability and confidence throughout the loan process, thereby enhancing overall business performance.
See More
Amalgamated Financial Corp. (AMAL) Reports Q4 2025 Core Earnings of $0.99
- Core Earnings Growth: Amalgamated Financial Corp. reported core earnings of $0.99 per diluted share for Q4 2025, demonstrating the consistency of its earnings power and setting a solid foundation for future shareholder returns.
- Record Deposit Growth: The bank attracted nearly $1 billion in new deposits, with political deposits rising to $1.7 billion, surpassing previous records and indicating strong customer acquisition even in a non-election year, enhancing its competitive position.
- Loan Portfolio Expansion: Total loans increased to $4.9 billion, up 3.5%, with growth-mode portfolios like multifamily and commercial real estate rising by 7%, showcasing the bank's robust performance and diversification strategy in the lending market.
- Optimistic Future Outlook: The bank anticipates net interest income growth of 10% to 11% in 2026, aiming to cross $10 billion in assets, with management expressing confidence in sustaining growth and adaptability in evolving market conditions.
See More
Amalgamated Bank Q4 Non-GAAP EPS Beats by $0.08
- Earnings Performance: Amalgamated Bank reported a Q4 Non-GAAP EPS of $0.99, exceeding expectations by $0.08, indicating sustained profitability that may boost investor confidence.
- Revenue Growth: The bank's revenue of $85.2 million in Q4, up 9.4% year-over-year, fell short of market expectations by $0.17 million, reflecting challenges in the changing economic environment that could impact future growth outlook.
- Net Interest Margin Expansion: The net interest margin expanded by 6 basis points to 3.66%, demonstrating the bank's effective asset-liability management in the current interest rate environment, potentially laying the groundwork for future interest income growth.
- Net Interest Income Increase: Net interest income rose by $1.4 million, or 1.8%, to $77.9 million, showcasing the bank's robust performance in loan and investment portfolio management, which supports overall financial health.
See More
Amalgamated Financial Corp. Reports Q4 Profit Increase to $26.639 Million
- Profit Growth: Amalgamated Financial Corp. reported a fourth-quarter profit of $26.639 million, translating to an earnings per share (EPS) of $0.88, which marks a significant increase from last year's $24.491 million and $0.79 EPS, indicating improved profitability.
- Adjusted Earnings: Excluding items, the company reported adjusted earnings of $29.965 million, or $0.99 per share, reflecting strong core business performance and ongoing improvements in profitability.
- Increased Interest Income: The net interest income for the fourth quarter was $77.851 million, up from $73.095 million in the same period last year, demonstrating enhanced competitiveness in the lending and interest rate environment.
- Loan and Deposit Growth: Total net loans receivable rose to $4.9 billion from $4.612 billion a year ago, while total deposits increased from $7.180 billion to $7.9 billion, indicating growing customer trust and an expansion in market share.
See More
Amalgamated Bank (AMAL) Declares $0.17 Quarterly Dividend, 21.4% Increase
- Dividend Increase: Amalgamated Bank has declared a quarterly dividend of $0.17 per share, marking a 21.4% increase from the previous $0.14, which reflects the company's ongoing profitability and is likely to attract more investor interest.
- Earnings Outlook: The bank outlines a 2025 earnings target of $164 million to $165 million, indicating accelerated loan and deposit growth, which suggests an improving competitive position in the market.
- Financial Performance: Amalgamated Bank reported a non-GAAP EPS of $0.91, beating estimates by $0.03, with revenue of $85.61 million exceeding expectations by $2.28 million, showcasing its robust financial health.
- Dividend Payment Schedule: The dividend is payable on February 19, with a record date of February 3 and an ex-dividend date also on February 3, ensuring shareholders receive timely returns and bolstering investor confidence.
See More
