Key Points – Amalgamated Financial posted record Q2 2026 results, with net income of $34.8 million and core net income of $33.1 million.
Management said return on assets topped 1.4% and the core efficiency ratio stayed below 50%, prompting a raise to full-year guidance. – Deposits and loans both grew meaningfully during the quarter, with on-balance sheet deposits up $280 million to a record $8.5 billion and total loans rising about $115 million
The bank highlighted strong political, labor, and social/philanthropy deposit growth as well as healthy commercial loan production. – Guidance was lifted for 2026 net interest income and core earnings, as the company now expects net interest income of $338 million to $340 million and core pre-tax, pre-provision earnings of $188 million to $190 million. Management said credit remained stable, though expenses are expected to rise in coming quarters due to headquarters relocation, technology, compliance, and staffing investments. Amalgamated Financial (NASDAQ:AMAL) reported what executives described as a record second quarter of 2026, with management citing balance sheet growth, deposit strength and improved operating leverage as key drivers of higher profitability.
President and Chief Executive Officer Priscilla Sims Brown said the quarter “showcases the power of the franchise” the company has built, pointing to record net income of $34.8 million and core net income of $33.1 million. She said return on average assets exceeded 1.4%, return on tangible common equity topped 16% and the company’s core efficiency ratio remained below 50%. Revenue approached $100 million in the quarter, while revenue per share exceeded $3 for the second consecutive quarter, according to Sims Brown.