--- title: "Amalgamated Financial | 8-K: FY2026 Q2 Revenue: USD 129.47 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/293598341.md" datetime: "2026-07-23T10:29:18.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293598341.md) - [en](https://longbridge.com/en/news/293598341.md) - [zh-HK](https://longbridge.com/zh-HK/news/293598341.md) --- # Amalgamated Financial | 8-K: FY2026 Q2 Revenue: USD 129.47 M Revenue: As of FY2026 Q2, the actual value is USD 129.47 M. EPS: As of FY2026 Q2, the actual value is USD 1.15, beating the estimate of USD 0.99. EBIT: As of FY2026 Q2, the actual value is USD 46.62 M. #### Profitability and Revenue Net income for Amalgamated Financial Corp. was $34.8 million for the second quarter of 2026, compared to $25.2 million for the prior quarter. Core net income was $33.1 million, up from $24.1 million in the prior quarter. Net revenue reached $98.4 million. Provision for credit losses normalized to $4.4 million, a decrease from $13.5 million in the prior quarter. Net interest income grew by $5.9 million, or 7.4%, to $86.1 million compared to the prior quarter. Non-interest income was $12.3 million, a decrease from $13.3 million in the prior quarter. Core non-interest income was $10.0 million, down from $11.2 million in the prior quarter. Non-interest expense increased by $1.4 million to $47.3 million from the prior quarter. Core non-interest expense was $47.2 million, an increase of $2.0 million from the prior quarter. Provision for income tax expense was $11.9 million, compared to $8.8 million for the prior quarter. The effective tax rate was 25.4%, down from 26.0% in the prior quarter. #### Deposits and Liquidity On-balance sheet deposits increased by $280.3 million, or 3.4%, reaching $8.5 billion. Off-balance sheet deposits totaled $1.0 billion. Political deposits rose by $211.9 million, or 11.4%, to $2.1 billion. The average cost of deposits was 146 basis points, with non-interest-bearing deposits comprising 39% of total deposits. Cash, borrowing capacity, and unpledged securities collectively amounted to $4.8 billion, covering 100% of total uninsured deposits. Total on-balance sheet deposits at June 30, 2026, were $8.458 billion. Total GAAP deposits reached $9.5 billion in Q2 2026, up from $9.3 billion in Q1 2026. Off-balance sheet deposits were $1.2 billion in Q2 2026, compared to $1.0 billion in Q1 2026. Total deposits excluding brokered deposits were $8.46 billion in Q2 2026, a quarter-over-quarter increase of $0.28 billion. Political deposits amounted to $2,075 million, up $211 million from the previous quarter. Non-interest bearing deposits constituted 38.9% of the deposit portfolio. Total uninsured deposits were $4.84 billion. Super-core deposits totaled $5.1 billion, representing 56% of total core deposits. #### Margin and Assets Net interest margin increased by 3 basis points to 3.78%. Net loans receivable increased by $114.9 million, or 2.3%, to $5.1 billion. Net commercial loans grew by $155.1 million, or 4.5%, to $3.6 billion. PACE assessments grew by $40.2 million, or 3.1%, to $1.3 billion, including CPACE growth of $31.0 million. Total assets expanded to $9.4 billion at June 30, 2026, representing a $240.6 million, or 3%, increase. Multifamily loans increased by $85.1 million, commercial real estate loans by $56.2 million, and commercial and industrial loans by $13.2 million. Consumer solar loans decreased by $11.5 million, and residential loans decreased by $26.5 million. Nonperforming assets totaled $102.7 million, or 1.09% of period-end total assets, an increase of $3.8 million compared to $98.9 million, or 1.08% of period-end total assets in the prior quarter. The allowance for credit losses on loans increased by $0.7 million to $68.9 million. The ratio of allowance to total loans was 1.34%, a decrease of 1 basis point from 1.35% in the first quarter of 2026. Criticized or classified loans decreased by $9.0 million during the quarter. #### Capital and Returns Tangible book value per share increased by $0.88, or 3.3%, to $27.47. The Tier 1 leverage ratio was 9.20%, and the Common Equity Tier 1 ratio was 14.20%. The Tangible common equity ratio was 8.74%. Core return on average tangible common equity was 16.51%, and core return on average assets was 1.42%. A new $40 million share repurchase program was approved on June 9, 2026. Dividends of $5.2 million, at $0.17 per share, were paid. Stockholders’ equity increased by $27.4 million to $835.0 million during the quarter. The efficiency ratio was 48.10%, and the core efficiency ratio was 49.15%. Core return on average assets (ROAA) was 1.42% in Q2 2026, an increase from 1.37% in Q1 2026. Core return on average tangible common equity (ROTCE) significantly improved to 16.51% in Q2 2026, up from 12.28% in Q1 2026. Tangible book value per share increased to $27.47 in Q2 2026 from $26.59 in Q1 2026. The Tangible Common Equity (TCE) Ratio was 8.74% in Q2 2026, an increase of 7 basis points from 8.67% in the prior quarter. The increase in TBV per share was primarily driven by the $34.8 million quarterly net income, offset by a -$5.2 million equity impact of dividend payment and a -$4.2 million worsening tax-effected mark-to-market adjustment. The dividend payout ratio was 14.9%. #### Investment Securities Total investment securities book value was $3.9 billion in Q2 2026, an increase of $0.2 billion from Q1 2026. Non-Agency yield for securities was 4.97%, PACE yield was 6.10%, and Agency yield was 4.08% in Q2 2026. The valuation loss as a percentage of portfolio balance was 2.0% for AFS securities and 6.8% for HTM securities in Q2 2026. The total securities portfolio, excluding PACE, had a weighted average duration of 2.75 years. Valuation loss for AFS securities totaled -$43.1 million, and for HTM securities, it was -$135.3 million. #### Loans Held for Investment Total loans reached $5.15 billion in Q2 2026, up from $5.03 billion in Q1 2026, with a loan yield of 5.21%. Growth portfolios increased by $154.5 million, or 4.5%, to $3.61 billion. Non-growth portfolios decreased by -$38.8 million, or -2.5%, to $1.55 billion. The loan-to-deposit ratio was 60.9%. Pass-rated loans accounted for 97.0% of the loan portfolio. #### Credit Quality Non-performing assets as a percentage of total assets slightly increased to 1.09% in Q2 2026 from 1.08% in Q1 2026. Quarterly net charge-offs as a percentage of average loans were 0.25% in Q2 2026, down from 0.27% in Q1 2026. This included $3.0 million in charge-offs on consumer solar loans and $0.2 million on small business commercial and industrial loans. Criticized and classified loans decreased to $152 million in Q2 2026 from $161 million in Q1 2026. The allowance for credit losses (ACL) as a percentage of total loans was 1.34% in Q2 2026. Non-performing assets increased primarily due to $67.7 million in multifamily loans attributable to one borrower placed on nonaccrual status. #### Non-Interest Income and Expense Core non-interest income was $10.0 million in Q2 2026, an increase of $0.7 million compared to Q2 2025. Core non-interest expense was $47.2 million in Q2 2026, up $6.8 million from Q2 2025. The core efficiency ratio was 49.1% in Q2 2026, a slight decrease from 49.2% in Q2 2025. #### Trust Services Trust assets under custody increased to $39.4 billion in Q2 2026 from $37.7 billion in Q1 2026. Trust assets under management also grew to $17.2 billion in Q2 2026 from $16.0 billion in Q1 2026. #### Outlook / Guidance Amalgamated Financial Corp. raised its 2026 guidance, revising its annual core ROAA target to approximately 1.29%. The company is on track to achieve its annual core ROTCE target of approximately 15% and positive operating leverage of 3-4%. 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