Amalgamated Financial Corp. (AMAL) Earnings
Amalgamated Financial Corp. is expected to report next earnings on July 23, 2026 (in NaN days), with a consensus EPS estimate of $0.99. AMAL has beaten EPS estimates in 6 of its last 11 reported quarters (average surprise -3.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $0.95 | $0.80 | -15.8% | $91M | +1.8% |
| Mar 5, 2026 | — | $0.88 | — | $115M | — |
| Oct 23, 2025 | $0.88 | $0.91 | +3.4% | $85M | -1.5% |
| Jul 24, 2025 | $0.90 | $0.88 | -2.2% | $81M | -2.0% |
| Apr 24, 2025 | $0.88 | $0.88 | +0.0% | $79M | -3.7% |
| Jan 23, 2025 | $0.87 | $0.90 | +3.4% | $78M | +0.5% |
| Oct 24, 2024 | $0.83 | $0.91 | +9.6% | $82M | +1.8% |
| Jul 25, 2024 | $0.79 | $0.85 | +7.6% | $80M | +3.4% |
| Apr 25, 2024 | $0.74 | $0.83 | +12.2% | $76M | +0.4% |
| Jan 25, 2024 | $0.72 | $0.72 | +0.0% | $73M | +2.3% |
| Oct 26, 2023 | $0.70 | $0.76 | +8.6% | $70M | -0.1% |
| Jul 27, 2023 | $0.74 | $0.72 | -2.7% | $70M | -0.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Thanked colleagues, customers, and shareholders. - Strong first quarter with growth in net revenue, net interest margin, deposits, and tier one capital. - Deposit franchise performed well with broad-based strength. - Chose to keep more deposits on balance sheet to drive core net interest income. - Loan growth solid led by commercial real estate lending. - Addressed additional reserves taken for a single borrower multi-family relationship, viewing it as isolated. - Strategy builds on mission-focused approach, looking to expand and consolidate market share. - Jason discussed net income, core net income, net interest income, core non-interest income, expenses, core efficiency ratio, and credit quality details.
Guidance
- Raised net interest income target to $333 million and core pre-tax pre-provision earnings target to $183 million. - New annual balance sheet growth target of approximately 8% for 2026. - Anticipate interest income to increase to between $81 to $83 million in the second quarter. - Fee income expected to be around $9.8 to $10 million per quarter with modest improvement.
Segment performance
Net revenue grew 9.7% to $93.4 million. Net interest margin expanded nine basis points to 3.75%. On balance sheet deposits increased $229 million to $8.2 billion. Net loans up approximately $66 million, or 1.3%, led by commercial real estate lending. Political deposits increased $133 million to $1.9 billion. Labor franchise generated $106 million of growth. Not-for-profit deposits grew $115 million. Average non-interest bearing deposits increased to 41% of total deposits. Super core deposits approaching 60% of total on balance sheet deposits. PACE portfolio expanded, with total assessments up $15.8 million, or 1.2%, to approximately $1.3 billion.
Risks & headwinds
- Single borrower multi-family relationship moved to non-accrual, leading to additional specific reserves. - Non-performing assets rose to $99.3 million, or 1.08% of total assets. - Criticized and classified loans increased $51.6 million primarily related to the single borrower. - Allowance for credit losses increased to $68.2 million, representing 1.35% of total loans.
Analyst Q&A
Q: Talk about loan to value on the DC relationship and strategy timing of resolution.
A: Jason said resolution timing is difficult as news is new, reserving was to limit P&L volatility, some loans likely resolve sooner, others may have longer tail.
Q: Break down net interest income guide.
A: Balance sheet size expected to end at around $9.6 billion, $81 to $83 million NII expected in second quarter, margin to have slight compression in second quarter then modest expansion.
Q: Fee income outlook.
A: Fee income gradually growing, expected to be about $9.8 to $10 million per quarter with growth in commercial banking and trust-related revenue.
Q: Detail on multifamily relationship.
A: Isolated to single borrower, notice of intent to default led to non-accrual loans, reserves established conservatively, reviewed broader DC metro exposure.
Q: Color on political deposits trend.
A: Political deposits on track with prior trend, building over time, diversified growth from segments.
Q: Loan growth from multifamily.
A: Pleased with pipeline, 250% RBC, plenty of exposure with strong metrics, expect strong growth, balance between portfolios.
Q: Growth in C-PACE book.
A: C-PACE has been tremendous, partnership with Electrify strong, contributing to pipeline and yield growth