Amalgamated Bank of Chicago

Amalgamated Bank of Chicago
Company typePrivate
IndustryFinancial services
Founded1922
Headquarters
Chicago, IL
,
United States
Number of locations
2
Key people
Robert M. Wrobel (CEO)
ServicesBanking
RevenueUS$ 54.2 million (2023)[1] (net interest income + non-interest income)
$15.6 million (2023) (before taxes)
Total assets$1346 million (2023)
Total equity$109.4 million (2023)
Number of employees
160 (2023)
ParentAmalgamated Investments Company
Websitehttps://www.aboc.com/

The Amalgamated Bank of Chicago (ABOC) is a commercial bank headquartered in Chicago, Illinois, United States. In addition to its downtown Chicago office, the bank has a branch office in Warrenville, Illinois.

Until November 1991, the bank was known as Amalgamated Trust & Savings Bank.[2] In July, 2024 the bank was rebranded as ABOC.[3]

ABOC announced plans to be acquired by Amalgamated Bank of New York during 2021.[4] In early 2022 Amalgamated Financial (the New York bank's holding company) announced the $98 million acquisition plan was ended due to regulatory difficulties, but ABOC said it could still proceed.[5]

  1. ^ Cite error: The named reference FDICDatabase was invoked but never defined (see the help page).
  2. ^ "Amalgamated Bank of Chicago". Bloomberg Business Week. Archived from the original on August 14, 2009. Retrieved 2010-05-30.
  3. ^ "Amalgamated Bank of Chicago Becomes "ABOC" as Part of Major Rebranding and Expansion Effort" (Press release). ABOC. PR Newswire. July 9, 2024. Retrieved 2024-07-11.
  4. ^ "Amalgamated Bank Announces Agreement to Acquire Amalgamated Bank of Chicago" (Press release). Amalgamated Bank of Chicago. 2021-09-20. Retrieved 2021-09-22.
  5. ^ Roeder, David (February 25, 2022). "Buyer of Chicago's Amalgamated Bank scraps deal". Chicago Sun-Times. Retrieved 2022-06-03.