Amalgamated Bank

Headquarters

275 Seventh Avenue
New York, NY 10001
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 0.95% →
1-Year CD 0.30% 1.01% →
2-Year CD 0.35% 0.95% →
5-Year CD 0.45% 1.30% →
30-Year Mortgage 3.69% 2.80% →
15-Year Mortgage 3.20% 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Amalgamated Bank is an FDIC insured institution located in New York, NY. It was founded in 1923 and has approximately $5.76 billion in assets. Customers can open an account at one of its 17 branches.

FDIC Insured Yes
FDIC Certificate # 622
Date Established 1923
Assets $ 5.76 billion
Loans $ 3.52 billion
Deposits $ 5.08 billion
Capital $ 473.27 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 - October 30, 2020

Your Current Location: Washington, WA 98101

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.10% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
6 Mo CD
0.10% $10,000 $14,999 Learn More
6 Mo CD
0.10% $100,000 $199,999 Learn More
12 Mo CD
0.30% $10,000 $14,999 Learn More
12 Mo CD
0.30% $100,000 $199,999 Learn More
24 Mo CD
0.35% $10,000 $14,999 Learn More
24 Mo CD
0.35% $100,000 $199,999 Learn More
36 Mo CD
0.40% $10,000 $14,999 Learn More
36 Mo CD
0.40% $100,000 $199,999 Learn More
60 Mo CD
0.45% $10,000 $14,999 Learn More
60 Mo CD
0.45% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.01% $1 $99 Learn MoreShow Less
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less

Online Only Savings Rates of Amalgamated Bank

Online Savings Rates APY MIN MAX
Online Savings
0.40% $1 - Learn More

Bank Online Offers


Loan Rates - October 30, 2020

Your Current Location: Washington, WA 98101

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:
Seattle,Washington


Amalgamated Bank Locations


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
7.49% 6.94%

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 March 31, 2020, Amalgamated Bank had $37,828,000 in non-current loans and $786,000 in owned real estate. To cover these potential losses it had $473,269,000 in equity and $42,348,000 in loans loss reserves. That gives it a Texas Ratio of 7.49%.

Return on Equity
Amalgamated Bank U.S. Bank Average
7.92% 7.80%

Amalgamated Bank has a Return on Equity of 7.92% versus the BestCashCow average of 7.80%. 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
8.22% 12.68%

Amalgamated Bank has a Capitalization of 8.22% versus the BestCashCow average of 12.68. 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 March 31, 2020, Amalgamated Bank had assets of $5,756,450,000, loans of $3,516,761,000, and deposits of $5,080,846,000. 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

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 267.03 million
Interest-bearing balances $ 166.91 million
Total securities $ 1,728.06 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 3.52 billion
Loan loss allowance $ 42.35 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.79 million
Goodwill and other intangibles $ 19.32 million
All other assets $ 162.56 million
     Total Assets $ 5.28 billion
LIABILITIES
Total deposits $ 5.08 billion
      Interest-bearing deposits $ 2.65 billion
      Deposits held in domestic offices $ 5.08 billion
      % insured (estimated) 38.79%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 202.34 million
      Total Liabilities $ 5.28 billion
      Shareholders’ Equity $ 473.27 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 48.64 million
Total Interest Expense $ 3.93 million
Net interest income $ 44.71 million
Provision for loan and lease losses $ 8.59 million
Total non interest income $ 8.60 million
Total non interest expense $ 32.27 million
Pre-tax Net Operating Income $ 12.45 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 in New York, Amalgamated Bank has a significantly higher percent of Multifamily Mortgages on its balance sheet, potentially indicating a specialty in that lending area.

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 40.49
Multifamily
Mortgages
26.63
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 1.10
Construction and Development Loans 1.79
Commercial Real Estate 11.62
Commercial and Industrial Loans 13.74
Farm Loans 0.07

Frequently Asked Questions About Amalgamated Bank

Branches and Savings

Is Amalgamated Bank FDIC insured?

Yes. It is covered under FDIC Certificate #622.

Why does Amalgamated Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Amalgamated Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Amalgamated Bank a commercial bank?

Yes

Where are Amalgamated Bank locations?

See branch locations nearby.

Is Amalgamated Bank open on Saturdays?

Is Amalgamated Bank open on Sundays?

What time does Amalgamated Bank open?

What time does Amalgamated Bank close?

Are Amalgamated Bank ATMs Open 24/7?

Do Amalgamated Bank ATMs accept cash deposits?

Can Amalgamated Bank customers use other ATMs?

Do Amalgamated Bank branches have notaries?

Will Amalgamated Bank notarize my document?

What address for Amalgamated Bank should I put for incoming ACH transfers?

Will the Amalgamated Bank branch print checks?

Do Amalgamated Bank checks expire?

Does Amalgamated Bank require US citizenship to open account?

Can Amalgamated Bank close my account?

Does Amalgamated Bank Report to credit bureaus?

Does Amalgamated Bank Use Equifax?

What is Amalgamated Bank's ACH Routing Number?

What is Amalgamated Bank's SWIFT code?

Products

Does Amalgamated Bank offer mortgages?

Compare mortgage rates here.

Does Amalgamated Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Amalgamated Bank offer personal loans?

Compare personal loan rates here.

Does Amalgamated Bank offer student loans?

Will Amalgamated Bank cash a check?

Will Amalgamated Bank redeem a savings bond?

Does Amalgamated Bank cash savings bonds?

Will Amalgamated Bank cash money orders?

Can Amalgamated Bank issue a money order?

Does Amalgamated Bank do currency exchange?

Background on The Bank

Who owns Amalgamated Bank?

How long has Amalgamated Bank been around?

Can Amalgamated Bank transfer to other banks?

Does Amalgamated Bank have quick pay?

Does Amalgamated Bank accept rolled coins?

Will Amalgamated Bank accept loose change?

Where is Amalgamated Bank headquarters?

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