Amalgamated Financial Corp. has announced impressive financial results for the third quarter of 2026, marking a significant achievement for the company. On October 22, 2026, the bank reported record earnings, with net income reaching $36.4 million, or $1.20 per diluted share. This performance is notable as it reflects the bank's strong profitability and growth trajectory in a competitive landscape.
Amalgamated Financial Corp., a state commercial bank, operates under the ticker AMAL on the Nasdaq exchange. The company is headquartered in New York and has been actively filing reports with the SEC, including its most recent 8-K on October 22, 2026, detailing its financial results and condition.
The filing reveals that Amalgamated's core net income also reached a record of $34.6 million, or $1.14 per diluted share. This growth is attributed to a $1.9 million increase in net interest income and a $1.5 million rise in non-interest income, showcasing the bank's ability to generate revenue from various sources. As noted in the filing, "The story this quarter is not simply about delivering outstanding results. It is about demonstrating that the earnings power we have built is long-lasting and supported by multiple strengths across the bank."
In terms of deposits, Amalgamated reported an increase of $256 million, or 3.0%, bringing total on-balance sheet deposits to $8.7 billion. This growth is complemented by a nearly 8% rise in off-balance sheet deposits, indicating strong liquidity and customer confidence. The bank's net loans receivable also grew by $50.8 million, or 1.0%, to $5.1 billion, driven by a 2.6% increase in commercial loans.
The results from this filing are likely to impact various stakeholders, including investors, customers, and competitors. Investors may view the strong performance as a sign of stability and growth potential, which could influence their decisions moving forward. Customers may feel more confident in the bank's services, given its solid financial standing. Competitors in the state commercial banking sector, such as JPMorgan Chase and Bank of America, will also be paying close attention to Amalgamated's performance as a benchmark for their own strategies.
Looking ahead, Amalgamated Financial plans to hold an earnings conference call and webcast on October 22, 2026, at 11:00 a.m. Eastern Time to discuss these financial results in detail. The company has also provided a slide presentation for the call, available on its website under the Investor Relations section, further enhancing transparency and communication with stakeholders.
In summary, Amalgamated Financial Corp.'s record earnings and growth in deposits and loans underscore its strong position in the banking sector. As the company continues to demonstrate its financial strength, it sets a positive precedent for the industry and its competitors.