Record Q2 Profit, Margin Hits 3.78%, Guidance Raised
AMAL sits 94% above its 52-week low of $25.13.
Summary
Amalgamated Financial reported record net income of $34.8 million, or $1.15 per share, in Q2 2026, significantly surpassing the prior quarter's $25.2 million. The company's Q2 revenue reached $98.4 million, while its net interest margin expanded to 3.78% due to loan growth and higher yields. The provision for credit losses normalized to $4.4 million after a previous spike related to a single multifamily loan. Deposits surged by $280 million, with political deposits reaching a new peak above 2024 election levels. Management raised full-year guidance, and the board approved a new $40 million share buyback, complementing an existing program, reinforcing the turnaround narrative with shares near a 52-week high.
At the time of this announcement, 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 news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: BusinessWire.