Business
Amalgamated Financial Corp. Reports First Quarter 2026 Financial Results; Margin Rises to 3.75% | Revenue Growth of 9.7% | Guidance Raised
NEW YORK, April 23, 2026--Amalgamated Financial Corp. (the "Company" or "Amalgamated") (Nasdaq: AMAL), the holding company for Amalgamated Bank (the "Bank"), today announced financial results for the first quarter ended March 31, 2026.
About this update from Amalgamated Financial Corp.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":1051,"height":270,"url":"https://media.zenfs.com/en/business-wire.com/f8b50e78c8925f741fe6a090603640c3"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/fG6i7.jfwace8vIqc1pT.A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTI0Nw--/https://media.zenfs.com/en/business-wire.com/f8b50e78c8925f741fe6a090603640c3","width":960,"height":247},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/iUt52KfAUIK8ln2iT3Dcxw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTIxMDI7aD01NDA-/https://media.zenfs.com/en/business-wire.com/f8b50e78c8925f741fe6a090603640c3","width":1051,"height":270}},"lazy":false},{"type":"text","content":"Deposit Growth of $229 Million | Loan Growth of $66 Million","length":59,"tagName":"p","attribs":{}},{"type":"text","content":"NEW YORK, April 23, 2026--(BUSINESS WIRE)--Amalgamated Financial Corp. (the "Company" or "Amalgamated") (Nasdaq: AMAL), the holding company for Amalgamated Bank (the "Bank"), today announced financial results for the first quarter ended March 31, 2026.","length":282,"tagName":"p"},{"type":"text","content":"Priscilla Sims Brown, President and Chief Executive Officer, commented, "Overall, we delivered a very strong first quarter that underscores the strength of our balance sheet and purpose-driven model. We grew net revenue to $93.4 million, expanded net interest margin 9 basis points to 3.75%, increased on-balance sheet deposits to $8.2 billion, and maintained strong Tier 1 capital at above 9.3%. Included in our results was an incremental $9.2 million provision tied to a single-borrower multifamily relationship that moved to nonaccrual during the quarter. We believe the underlying collateral supports our position and we are aggressively pursuing resolution options to preserve and maximize value. We view this as an isolated event with one borrower, which does not change our performance outlook. With the momentum we saw in the quarter, we are focused on executing and delivering on our revenue and earnings targets over the balance of the year."","length":962,"tagName":"p"},{"type":"text","content":"First Quarter 2026 Highlights (on a linked quarter basis)","length":57,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income of $25.2...