Amalgamated Financial Posts Record Q2 2026 Profit of $34.8M and Lifts Full-Year Outlook
AMAL sits 94% above its 52-week low of $25.13.
Summary
Amalgamated Financial delivered record Q2 2026 net income of $34.8 million ($1.15 EPS), raised its full-year guidance, and reported strong deposit and loan growth. The quarter marks a sharp recovery from the credit-driven earnings dip in Q1.
Key Events · Earnings and Guidance · AMAL
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Record Quarterly Profit
Driven by lower credit provisions and higher net interest income, net income surged 38% from $25.2 million in Q1 2026 to $34.8 million, or $1.15 per diluted share.
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Full-Year Guidance Raised
Management lifted its FY2026 net interest income forecast to $338–340 million and core pre-tax pre-provision earnings to $188–190 million, implying 13–14% year-over-year growth.
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Net Interest Margin Expansion
Supported by higher-yielding commercial loan originations and securities purchases, the net interest margin improved 3 basis points to 3.78%.
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Strong Deposit and Loan Growth
On-balance sheet deposits grew $280.3 million, or 3.4%, to $8.5 billion, while net loans increased $114.9 million, or 2.3%, to $5.1 billion—with commercial loans up 4.5%.
Analysis · AMAL · Finance
The quarter marked Amalgamated's strongest performance ever, with net income jumping 38% sequentially to $34.8 million as credit costs normalized and the net interest margin expanded. Reflecting management's confidence in sustained momentum, full-year guidance was raised for both net interest income and pre-provision earnings. Deposit growth was robust—political deposits, in particular, hit a new peak—while loan growth remained solid. The results underscore the franchise's ability to convert balance sheet expansion into record profitability, though nonperforming assets remain elevated due to a single multifamily borrower.
At the time of this filing, AMAL was trading at $48.67 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $25.13 to $48.59. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.