PHILADELPHIA--(BUSINESS WIRE)--Today, Amalgamated Bank, a subsidiary of Amalgamated Financial Corp. (Nasdaq: AMAL), announced a five-million-dollar loan to Finanta, a 33-year-old community development financial institution (CDFI) advancing economic opportunities for individuals, families and entrepreneurs. This infusion of funds will expand access to capital for affordable housing developers, healthy food providers in food deserts, community development projects, childcare and education providers, healthcar ...

Core Insights - Amalgamated Financial Corp. reported a net income of $26.0 million, or $0.84 per diluted share, for the second quarter of 2025, reflecting a slight increase from $25.0 million, or $0.81 per diluted share, in the prior quarter [6][7] - The Common Equity Tier 1 Capital Ratio stood at 14.13%, while the Tangible Book Value per Share increased to $24.33, marking a 3.5% rise from the previous quarter [21][22] Financial Performance - Core net income was $27.0 million, or $0.88 per diluted share, compared to $27.1 million, or $0.88 per diluted share, in the prior quarter [8] - Net interest income grew by $2.3 million, or 3.3%, to $72.9 million, driven by an increase in loan interest income and securities [9] - Non-interest income increased to $8.0 million from $6.4 million in the prior quarter, with core non-interest income rising to $9.3 million [12] Deposits and Loans - Total on-balance sheet deposits increased by $321.2 million, or 4.3%, to $7.7 billion, with political deposits rising by 13% to $1.2 billion [18] - Net loans receivable increased by $35.5 million, or 0.8%, to $4.7 billion, with significant growth in multifamily and commercial real estate loans [17] Capital and Returns - The Tier 1 leverage ratio remained constant at 9.22%, while the tangible common equity ratio decreased to 8.60% due to a larger balance sheet [21][22] - The company repurchased approximately 327,000 shares, totaling $9.7 million, with $30.3 million remaining under the share repurchase program [6] Balance Sheet Summary - Total assets reached $8.6 billion, a 4% increase from the previous quarter, with notable increases in securities and net loans receivable [15] - Stockholders' equity grew by $18.0 million during the quarter, primarily driven by net income and improvements in accumulated other comprehensive loss [21]

Core Points - Amalgamated Financial Corp. will release its second quarter 2025 financial results on July 24, 2025, before market open [1] - A conference call to discuss the financial results will take place at 11:00 a.m. Eastern Time on the same day [1] - Investors can participate in the call by dialing the provided numbers approximately 10 minutes prior to the start [2] Company Overview - Amalgamated Financial Corp. is a Delaware public benefit corporation and bank holding company, operating through its subsidiary, Amalgamated Bank [4] - Amalgamated Bank is a full-service commercial bank with a network of five branches in New York City, Washington D.C., and San Francisco, and a commercial office in Boston [4] - As of March 31, 2025, Amalgamated Financial Corp. reported total assets of $8.3 billion, total net loans of $4.6 billion, and total deposits of $7.4 billion [4] - The trust business held $35.7 billion in assets under custody and $14.2 billion in assets under management as of the same date [4]