Amalgamated Financial Q2 net income rises 33.8% to $34.8M, but multifamily loan default drives credit costs higher

Filed August 4, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 5, 2025 · ~1 min read

Key Changes

• high

  Net income increased 33.8% to $34.8 million, or $1.15 per diluted share, from $26.0 million, or $0.84 per share, a year earlier.

  MD&A: Net income verify on EDGAR →
• high

  Provision for credit losses more than tripled to $17.9 million for the six months, driven by a $10.3 million reserve on a $78 million multifamily loan default.

  MD&A: Provision for credit losses verify on EDGAR →
• high

  Nonperforming assets surged to $102.7 million, or 1.09% of total assets, from $28.7 million at year-end 2025, primarily due to the multifamily loan moving to nonaccrual.

  MD&A: Nonperforming assets verify on EDGAR →