Monitor upcoming credit quality metrics and resolution of the $78M multifamily loan; the sharp rise in nonperforming assets and provision expense outweighs margin expansion, suggesting deteriorating asset quality.
Price Chart
Executive Summary
Amalgamated Financial reported Q1 2026 earnings with net income of $25.2M ($0.84/share), missing consensus of $0.95. Core net income fell 19.2% to $24.1M due to a $9.2M provision for a single multifamily borrower. Net interest margin rose to 3.75%, but nonperforming assets surged 247% to $99.3M, signaling credit risk.
Key Financial Metrics
Key Facts
- Net income of $25.2M ($0.84/share) missed consensus of $0.95
- Core net income dropped 19.2% to $24.1M due to $9.2M incremental provision
- Nonperforming assets surged 247% to $99.3M (1.08% of total assets)
- Net interest margin expanded 9 basis points to 3.75%
- On-balance sheet deposits grew $228.9M to $8.2B
Financial Impact
$9.2M provision for credit losses on a single multifamily borrower
Risk Factors
- Concentration risk in multifamily loans, particularly a single $78M borrower
- Exposure to rent-stabilized properties in the DC Metro area
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001823608-26-000109 |
| Document: a202603_amalearningsdeck.htm | 0001823608-26-000109 |
| Document: amal-20260423.htm | 0001823608-26-000109 |
| Document: 0001823608-26-000109-index-headers.html | 0001823608-26-000109 |
| Document: 0001823608-26-000109-index.html | 0001823608-26-000109 |
| Document: 0001823608-26-000109.txt | 0001823608-26-000109 |
| 8-K Data (Synthetic) | 0001823608-26-000109 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 8-K | $50.31 | awaiting T+20 | — | $50.88 (+1.13%) |
Oct 20, 2026 6d ago | 8-K | $47.82 | awaiting T+20 | — | $50.88 (+6.40%) |
Sep 17, 2026 5w ago | Insider Cluster | $47.40 $47.13 | ▲ +0.57% | ▲ +0.77% | $50.88 (−7.34%) |
Sep 15, 2026 5w ago | Insider Cluster | $46.62 $46.52 | ▲ +0.21% | ▲ +2.28% | $50.88 (−9.14%) |
Sep 11, 2026 6w ago | Insider Cluster | $47.78 $46.88 | ▼ −1.88% | ▼ −4.15% | $50.88 (+6.49%) |
Sep 11, 2026 6w ago | Insider Cluster | $47.78 $46.88 | ▲ +1.88% | ▲ +4.15% | $50.88 (−6.49%) |
Sep 10, 2026 6w ago | Insider Cluster | $47.87 $46.58 | ▲ +2.69% | ▲ +4.56% | $50.88 (−6.29%) |
Sep 8, 2026 6w ago | Insider Cluster | $47.83 $46.63 | ▲ +2.51% | ▲ +4.45% | $50.88 (−6.38%) |
Sep 2, 2026 7w ago | Insider Cluster | $49.04 $48.19 | ▼ −1.73% | ▼ −0.55% | $50.88 (+3.75%) |
Sep 2, 2026 7w ago | Insider Cluster | $49.04 $48.19 | ▼ −1.73% | ▼ −0.55% | $50.88 (+3.75%) |
US Market Status
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