Quarterly ResultApr 23, 2026, 06:36 AM
AMAL Q1 2026: Margin Rises to 3.75%; Revenue Up 9.7%
AI Summary
Amalgamated Financial Corp. reported strong first-quarter 2026 financial results, with net revenue increasing 9.7% to $93.4 million and net interest margin rising to 3.75%. The company saw significant deposit growth of $229 million and loan growth of $66 million. However, net income decreased to $25.2 million, or $0.84 per diluted share, primarily due to an incremental $9.2 million provision related to a single-borrower multifamily relationship that moved to nonaccrual.
Key Highlights
- Net revenue grew 9.7% to $93.4 million.
- Net interest margin expanded 9 basis points to 3.75%.
- On-balance sheet deposits increased $228.9 million to $8.2 billion.
- Net loans receivable grew $65.5 million to $5.0 billion.
- Net income was $25.2 million, or $0.84 per diluted share.