 | This article contains promotional content. (March 2021) |
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| Company type | Public |
|---|---|
| Nasdaq: AMAL Russell 2000 Index component | |
| Industry | Banking |
| Founded | April 14, 1923 |
| Headquarters | 275 Seventh Avenue, New York City, New York, U.S. |
Key people | Priscilla Sims Brown (president & CEO) |
| Revenue |  $293.371 million (2023)[1] |
| $90.459 million (2023) | |
| Total assets | $7.97 billion (2023) |
| Owner | Workers United Related Parties (40.96%)[2] |
Number of employees | 425 (2023)[3] |
| Subsidiaries | New Resource Bank |
| Website | amalgamatedbank |
Amalgamated Bank is an American financial institution. It is the largest union-owned bank[4] and one of the only unionized banks in the United States. Amalgamated Bank is currently majority-owned by Workers United, an SEIU Affiliate.[5]
It was founded on April 14, 1923, by the Amalgamated Clothing Workers of America.[6] As of 30 July 2023,[update] Amalgamated Bank had $7.8 billion in assets.[7] Through its Institutional Asset Management and Custody Division, Amalgamated Bank is one of the leading providers of investment and trust services to Taft–Hartley plans in the United States. The bank oversees over $45 billion in investment advisory and custodial services.
In August 2018, Amalgamated Bank filed an initial public offering and became publicly traded on the NASDAQ, under the ticker symbol "AMAL".
The bank offers personal banking, small business banking solutions, commercial banking, and institutional investing services across New York, California, Massachusetts, Washington, D.C., and Colorado.
- ^ "Amalgamated Financial Corp. Reports Fourth Quarter 2023 Financial Results: $170.8 Million Deposit Growth Excluding Brokered CDs; Net Interest Margin Rises to 3.44%". ir.amalgamatedbank.com.
- ^ "UNITED STATES SECURITIES AND EXCHANGE COMMISSION - Washington, D.C. 20549 - SCHEDULE 14A - Proxy Statement Pursuant to Section 14(a) of the Securities - Exchange Act of 1934 - (Amendment No. )". www.sec.gov.
- ^ "UNITED STATES SECURITIES AND EXCHANGE COMMISSION - Washington, D.C. 20549 - FORM 10-K - ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 - For the fiscal year ended December 31, 2023". www.sec.gov.
- ^ Amalgamated CEO Eager to Grow Nation's Biggest Union Owned Bank, American Banker, Retrieved 08-16-2013
- ^ Confessore, Nicholas (30 August 2015). "Owned by Union, Amalgamated Bank Gives Lift to the Left". New York Times. Retrieved 2 August 2019.
- ^ Amalgamated Bank History. Retrieved 2015-06-23
- ^ "The Most Powerful Women in Banking: No. 25, Priscilla Sims Brown, Amalgamated Bank". American Banker. 27 September 2023. Retrieved 14 December 2023.