Amalgamated Bank

Headquarters

275 7th Ave
New York, NY 10001
See all branch locations →

Notable Rates APY Vs.Others
Savings 2.75% 5.55% →
1-Year CD N.A. 5.60% →
2-Year CD N.A. 4.90% →
5-Year CD N.A. 4.55% →
30-Year Mortgage 7.19% 4.91% →
15-Year Mortgage 5.50% 4.39% →
HELOC N.A. 0.99% →

2024 Overview

General Bank Information

Amalgamated Bank is an FDIC insured institution located in New York, NY. It was founded in 1923 and has approximately $8.01 billion in assets. Customers can open an account at one of its 17 branches.

FDIC Insured Yes
FDIC Certificate # 622
Date Established 1923
Assets $ 8.01 billion
Loans $ 4.35 billion
Deposits $ 7.08 billion
Capital $ 620.53 million
 

For a more detailed analysis of Amalgamated Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - April 27, 2024

Your Current Location: Ohio, OH 43085

Savings and Money Market Rates APY MIN MAX
Online Savings
2.75% $0 - Learn More


Online Only Savings Rates of Amalgamated Bank

Online Savings Rates APY MIN MAX
Online Savings
2.75% $1 - Learn More
Convenience Savings
1.26% $199 - Learn More

Online Only CD Rates of Amalgamated Bank

Online CD Rates APY MIN MAX
6 Month CD
3.79% $500 $249,999 Learn More
7 Month CD Special
3.56% $500 $249,999 Learn More
12 Month CD
4.25% $500 $249,999 Learn More
24 Month CD
3.30% $500 $249,999 Learn More
36 Month CD
3.20% $500 $249,999 Learn More
60 Month CD
3.20% $500 $249,999 Learn More

Bank Online Offers


Loan Rates - April 27, 2024

Your Current Location: Ohio, OH 43085

Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Amalgamated Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Columbus,Ohio


Amalgamated Bank Locations



Climate Policy and Initiatives


Amalgamated Bank has pledged not to lend to the oil and gas industries and claims that 32% of its loan portfolio is currently assigned to climate solutions.   

Updated April 3, 2024


Climate Score: A

Based on the above statement, we believe that Amalgamated Bank may be worthy of a climate score of an A.


BestCashCow has labeled Amalgamated Bank a sustainable bank based on the bank's focus on financing projects in the wind, water, solar and energy storage areas that lessen our dependence on fossil fuels.

Add Your Review


or use your BestCashCow account

or

Financial Details

Amalgamated Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Amalgamated Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Amalgamated Bank U.S. Bank Average
4.98% 3.96%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of December 31, 2024, Amalgamated Bank had $34,172,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $620,534,000 in equity and $65,691,000 in loans loss reserves. That gives it a Texas Ratio of 4.98%.

Return on Equity
Amalgamated Bank U.S. Bank Average
15.12% 12.20%

Amalgamated Bank has a Return on Equity of 15.12% versus the BestCashCow average of 12.20%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Amalgamated Bank U.S. Bank Average
7.75% 10.76%

Amalgamated Bank has a Capitalization of 7.75% versus the BestCashCow average of 10.76. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Amalgamated Bank Balance Sheet Analysis

As of December 31, 2023, Amalgamated Bank had assets of $8,006,087,000, loans of $4,347,445,000, and deposits of $7,081,213,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

December 31, 2024
ASSETS
Cash & Balances due from depository institutions $ 124.42 million
Interest-bearing balances $ 87.71 million
Total securities $ 3.18 billion
Federal funds sold and reverse repurchase $ 50.00 million
Net loans and leases $ 4.35 billion
Loan loss allowance $ 65.69 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 15.15 million
All other assets $ 239.67 million
     Total Assets $ 7.39 billion
LIABILITIES
Total deposits $ 7.08 billion
      Interest-bearing deposits $ 4.07 billion
      Deposits held in domestic offices $ 7.08 billion
      % insured (estimated) 43.94%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 83.33 million
      Total Liabilities $ 7.39 billion
      Shareholders’ Equity $ 620.53 million

Summary Income Statement

December 31, 2024
INCOME AND EXPENSES
Total Interest Income $ 358.14 million
Total Interest Expense $ 94.00 million
Net interest income $ 264.14 million
Provision for loan and lease losses $ 14.67 million
Total non interest income $ 35.20 million
Total non interest expense $ 149.58 million
Pre-tax Net Operating Income $ 47.85 million

Bank Loan Profile?

The top three loan types in Amalgamated Bank’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Commercial and Industrial Loans.

Compared to other banks, Amalgamated Bank’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 28.69
Multifamily
Mortgages
19.80
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.59
Construction and Development Loans 0.95
Commercial Real Estate 7.69
Commercial and Industrial Loans 16.90
Farm Loans 0.00

Customer Reviews for Amalgamated Bank

There are currently no comments for Amalgamated Bank. Be the first to share your experience. Please provide comments that will help others.


Add Your Review


or use your BestCashCow account

or