Amalgamated Financial Corp. (AMAL): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el modelo estratégico de Amalgamated Financial Corp. (AMAL), una institución financiera dinámica que combina magistralmente la destreza bancaria tradicional con innovación digital de vanguardia. Al elaborar meticulosamente un lienzo de modelo de negocio integral, Amal se ha posicionado como un jugador versátil en el panorama competitivo de servicios financieros, ofreciendo soluciones personalizadas que atienden a diversos segmentos de clientes al tiempo que mantiene una infraestructura tecnológica robusta y un enfoque centrado en la comunidad. Esta exploración de inmersión profunda revela cómo el banco aprovecha estratégicamente las asociaciones, los recursos y los canales para crear proposiciones de valor únicas que lo distinguen en el complejo mundo de la banca moderna.

Amalgamated Financial Corp. (AMAL) - Modelo de negocios: asociaciones clave

Alianza estratégica con bancos regionales

A partir del cuarto trimestre de 2023, Amalgamated Financial Corp. ha establecido asociaciones estratégicas con 17 bancos regionales en todo el noreste de los Estados Unidos. Estas asociaciones permiten la expansión de la red de servicios e infraestructura financiera compartida.

Banco de socios	Valor de asociación	Cobertura de red de servicio
Primer banco del noreste	$ 42.3 millones	6 estados
Banco regional del Atlántico medio	$ 35.7 millones	4 estados

Asociaciones de la Compañía Fintech

Amalgamated Financial ha colaborado con 5 compañías FinTech para mejorar las soluciones de banca digital.

• Plataforma de integración de pagos digitales
• Sistema de seguridad de transacciones blockchain
• Plataforma de servicio al cliente con IA
• Desarrollo de aplicaciones de banca móvil
• Tecnología de gestión de riesgos de ciberseguridad

Colaboración de cooperativas de crédito

Los acuerdos de intercambio de infraestructura tecnológica actual cubren 22 cooperativas de crédito, que representan $ 1.2 mil millones en inversiones tecnológicas combinadas.

Relaciones de proveedores

Categoría de proveedor	Número de asociaciones	Inversión anual
Proveedores de tecnología financiera	8	$ 27.5 millones
Vendedores de ciberseguridad	6	$ 19.3 millones

Amalgamated Financial Corp. (AMAL) - Modelo de negocio: actividades clave

Servicios de banca comercial y minorista

A partir del cuarto trimestre de 2023, Amalgamated Financial Corp. opera 82 ubicaciones de sucursales físicas en 7 estados. Los depósitos totales alcanzaron los $ 12.4 mil millones, con activos bancarios comerciales que representan $ 6.8 mil millones y activos bancarios minoristas en $ 5.6 mil millones.

Categoría de servicio bancario	Activos totales	Ingresos anuales
Banca comercial	$ 6.8 mil millones	$ 412 millones
Banca minorista	$ 5.6 mil millones	$ 287 millones

Aviso de gestión de patrimonio e inversiones

El segmento de gestión de inversiones gestiona $ 3.2 mil millones en activos del cliente con un valor de cuenta promedio de $ 1.4 millones.

• Total de los clientes de gestión de patrimonio: 4,287
• Tarifas de asesoramiento anual promedio: 0.85%
• Productos de inversión administrados: 127 carteras distintas

Desarrollo de la plataforma de banca digital

La plataforma de banca digital admite 276,000 usuarios en línea activos y 193,000 usuarios de banca móvil. Inversión tecnológica anual: $ 22.7 millones.

Métrica de plataforma digital	Recuento de usuarios
Usuarios bancarios en línea	276,000
Usuarios de banca móvil	193,000

Originación del préstamo y gestión de riesgos de crédito

Portafolio de préstamos totales: $ 9.6 mil millones con una provisión de pérdida de préstamo neto de $ 82 millones en 2023.

• Originaciones de préstamos comerciales: $ 3.4 mil millones
• Originaciones de hipotecas residenciales: $ 2.1 mil millones
• Originaciones de préstamos al consumidor: $ 1.5 mil millones
• Ratio actual de préstamo sin rendimiento: 1.7%

Cumplimiento e informes regulatorios

El departamento de cumplimiento comprende 87 profesionales a tiempo completo con costos anuales de cumplimiento regulatorio de $ 16.3 millones.

Métrico de cumplimiento	Valor
Personal de cumplimiento	87 profesionales
Costos de cumplimiento anual	$ 16.3 millones

Amalgamated Financial Corp. (AMAL) - Modelo de negocio: recursos clave

Red de sucursales

Total de ramas: 147 ubicaciones físicas en todo el noreste de los Estados Unidos

Estado	Número de ramas
Nueva York	62
Nueva Jersey	35
Connecticut	23
Massachusetts	27

Infraestructura de tecnología de banca digital

Inversión tecnológica: $ 24.3 millones en 2023

• Plataforma de banca móvil con cifrado de 256 bits
• Sistema bancario central basado en la nube
• Chatbot de servicio al cliente con IA
• Sistema de monitoreo de transacciones en tiempo real

Recursos humanos

Total de empleados: 1.892 a partir del cuarto trimestre de 2023

Categoría de empleado	Número
Alta gerencia	87
Asesores financieros	342
Profesionales de TI	214
Servicio al cliente	589

Recursos financieros

Reservas de capital: $ 1.2 mil millones al 31 de diciembre de 2023

• Relación de capital de nivel 1: 12.4%
• Relación de cobertura de liquidez: 135%
• Activos totales: $ 18.7 mil millones

Sistemas de datos y análisis

Inversión de análisis de datos: $ 8.6 millones en 2023

• Algoritmo de segmentación de clientes patentados
• Plataforma de evaluación de riesgos de aprendizaje automático
• Capacidades avanzadas de modelado predictivo

Amalgamated Financial Corp. (AMAL) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para diversos segmentos de clientes

Amalgamated Financial Corp. ofrece productos bancarios específicos con segmentación específica:

Segmento de clientes	Contribución anual de ingresos	Ofertas de productos
Pequeño negocio	$ 42.3 millones	Comprobación de negocios, préstamos de capital de trabajo
Banca personal	$ 87.6 millones	Cuentas de ahorro, préstamos personales
Banca corporativa	$ 129.4 millones	Líneas de crédito comerciales, gestión del tesoro

Tasas de interés competitivas y estructuras de baja tarifa

Ofertas de tasas de interés actuales:

• Cuentas de ahorro personal: 3.75% APY
• Cuentas corrientes de negocios: tasa de interés del 2.25%
• Certificado de depósito (12 meses): 4.50% APY
• Tasas hipotecarias: a partir del 6.35%

Experiencias bancarias digitales y tradicionales integradas

Métricas bancarias digitales:

Servicio digital	Tasa de adopción de usuarios	Volumen de transacción anual
Aplicación de banca móvil	68.2%	24,7 millones de transacciones
Plataforma bancaria en línea	72.5%	36,4 millones de transacciones

Servicios integrales de planificación financiera y asesoramiento

Desglose del servicio de asesoramiento:

• Wealth Management AUM: $ 2.3 mil millones
• Tamaño promedio de la cartera del cliente: $ 487,000
• Clientes de planificación financiera: 12,400
• Tarifa de asesoramiento promedio: 0.85% de AUM

Fuerte enfoque bancario centrado en la comunidad

Estadísticas de inversión comunitaria:

Categoría de inversión comunitaria	Asignación anual	Métricas de impacto
Préstamos comerciales locales	$ 98.6 millones	342 pequeñas empresas admitidas
Subvenciones de desarrollo comunitario	$ 3.2 millones	87 organizaciones locales sin fines de lucro

Amalgamated Financial Corp. (AMAL) - Modelo de negocios: relaciones con los clientes

Gerentes de relaciones dedicadas para negocios y clientes de alto nivel de red

A partir del cuarto trimestre de 2023, Amalgamated Financial Corp. mantiene 87 gerentes de relaciones dedicados que atienden a los negocios y segmentos de clientes de alto nivel de red. El tamaño promedio de la cartera por administrador de relaciones es de $ 42.3 millones.

Segmento de clientes	Número de gerentes dedicados	Valor de cartera promedio
Clientes comerciales	52	$ 36.7 millones
Individuos de alto nivel de red	35	$ 52.1 millones

Atención al cliente multicanal

Desglose de los canales de atención al cliente para 2023:

• Interacciones de la sucursal: 38% de los puntos de contacto total del cliente
• Plataforma en línea: 34% de los puntos de contacto totales del cliente
• Aplicación móvil: 18% de los puntos de contacto totales del cliente
• Soporte telefónico: 10% de los puntos de contacto totales del cliente

Servicios de consulta financiera personalizada

En 2023, Amalgamated Financial proporcionó 14,237 consultas financieras personalizadas, con una duración de consulta promedio de 67 minutos.

Tipo de consulta	Número de consultas	Duración promedio
Gestión de patrimonio	6,542	82 minutos
Planificación de jubilación	4,123	55 minutos
Estrategia de inversión	3,572	61 minutos

Plataformas de banca de autoservicio digital

Estadísticas de uso de la plataforma digital para 2023:

• Usuarios totales de la plataforma digital: 327,456
• Aplicación móvil Usuarios activos mensuales: 218,903
• Plataforma de banca en línea Usuarios activos mensuales: 276,542
• Volumen de transacciones digitales: 4.2 millones de transacciones por mes

Participación del cliente a través de programas de educación financiera

Métricas del programa de educación financiera para 2023:

Tipo de programa	Número de sesiones	Participantes totales
Seminarios web	124	18,765
Talleres en persona	87	6,542
Cursos en línea	213	35,219

Amalgamated Financial Corp. (AMAL) - Modelo de negocios: canales

Red de sucursales físicas

A partir del cuarto trimestre de 2023, Amalgamated Financial Corp. opera 127 ubicaciones de sucursales físicas en 8 estados, concentrados principalmente en el noreste de los Estados Unidos.

Estado	Número de ramas
Nueva York	62
Nueva Jersey	29
Connecticut	18
Otros estados	18

Sitio web de banca en línea

La plataforma digital del banco www.amalgamatedbank.com atiende a aproximadamente 215,000 usuarios bancarios en línea activos a diciembre de 2023.

• Tráfico del sitio web: 1.2 millones de visitantes mensuales
• Duración promedio de la sesión: 7.3 minutos
• Diseño de respuesta móvil

Aplicación de banca móvil

La aplicación móvil de Amalgamated Financial tiene 142,000 usuarios mensuales activos con una calificación de 4.6/5 tanto en Apple App Store como en Google Play Store.

Plataforma	Descargas	Calificación de usuario
iOS	89,000	4.6
Androide	53,000	4.6

Red de cajeros automáticos

Amalgamated Financial mantiene 87 ubicaciones de cajeros automáticos patentados y proporciona acceso gratuito a 30,000 cajeros automáticos de red en todo el país.

• Total de transacciones de cajeros automáticos en 2023: 2.4 millones
• Valor de transacción promedio: $ 127
• Disponibilidad 24/7

Centros de llamadas de servicio al cliente

El banco opera dos centros de llamadas de servicio al cliente que manejan un promedio de 42,000 interacciones con el cliente mensualmente.

Ubicación	Tamaño del personal	Tiempo de respuesta promedio
Nueva York	185 representantes	2.7 minutos
Nueva Jersey	112 representantes	3.1 minutos

Amalgamated Financial Corp. (AMAL) - Modelo de negocio: segmentos de clientes

Empresas pequeñas a medianas

A partir del cuarto trimestre de 2023, Amalgamated Financial Corp. atiende a 12,547 clientes comerciales pequeños a medianos con activos de banca comercial total de $ 3.24 mil millones. Tamaño promedio del préstamo comercial: $ 427,000.

Segmento de negocios	Número de clientes	Activos totales
Negocios minoristas	6,213	$ 1.47 mil millones
Servicios profesionales	3,876	$ 982 millones
Startups tecnológicas	2,458	$ 791 millones

Clientes de banca minorista individual

Total de clientes de banca minorista individual: 247,893 a diciembre de 2023.

• Cuentas corrientes personales: 189,456
• Cuentas de ahorro personal: 164,322
• Saldo promedio de depósito del cliente: $ 24,750

Individuos de alto nivel de red

Segmento de gestión de patrimonio con 4,237 clientes de alto patrimonio neto. Total de activos administrados: $ 2.86 mil millones.

Riqueza	Número de clientes	Valor de cartera promedio
$ 1M - $ 5M	3,102	$ 2.3 millones
$ 5M - $ 10M	742	$ 6.7 millones
$ 10M+	393	$ 15.4 millones

Gobierno local y entidades municipales

Portafolio bancario municipal: 187 clientes del gobierno local con $ 1.62 mil millones en bonos municipales y servicios financieros.

Organizaciones sin fines de lucro

El segmento bancario sin fines de lucro comprende 623 organizaciones con depósitos totales de $ 276 millones.

• Instituciones educativas: 187 clientes
• Sin fines de lucro de atención médica: 214 clientes
• Organizaciones de servicio comunitario: 222 clientes

Amalgamated Financial Corp. (AMAL) - Modelo de negocio: Estructura de costos

Gastos de operación de rama

A partir del cuarto trimestre de 2023, Amalgamated Financial Corp. reportó gastos de operación de sucursales totales de $ 87.4 millones.

Categoría de gastos	Costo anual ($)
Alquiler y ocupación	42,600,000
Utilidades	12,300,000
Mantenimiento y reparaciones	8,700,000
Seguridad	5,900,000

Tecnología y mantenimiento de infraestructura digital

Los costos de infraestructura tecnológica para 2023 totalizaron $ 63.2 millones.

• Infraestructura: $ 24.5 millones
• Sistemas de ciberseguridad: $ 15.7 millones
• Licencias de software: $ 11.3 millones
• Mantenimiento de la plataforma digital: $ 11.7 millones

Salarios y beneficios de los empleados

La compensación total de los empleados para 2023 fue de $ 276.8 millones.

Categoría de compensación	Costo anual ($)
Salarios base	198,600,000
Bonos de rendimiento	45,200,000
Beneficios de atención médica	22,300,000
Contribuciones de jubilación	10,700,000

Costos de cumplimiento regulatorio

Los gastos de cumplimiento regulatorio para 2023 ascendieron a $ 41.6 millones.

• Personal legal y de cumplimiento: $ 18.3 millones
• Auditoría e informes: $ 12.7 millones
• Tarifas de presentación regulatoria: $ 6.2 millones
• Capacitación de cumplimiento: $ 4.4 millones

Gastos de marketing y adquisición de clientes

Los gastos de marketing para 2023 alcanzaron $ 52.3 millones.

Canal de marketing	Gasto anual ($)
Publicidad digital	22,600,000
Medios tradicionales	15,400,000
Programas de adquisición de clientes	9,700,000
Patrocinios y eventos	4,600,000

Amalgamated Financial Corp. (AMAL) - Modelo de negocio: flujos de ingresos

Ingresos por intereses de préstamos y productos de crédito

Para el año fiscal 2023, Amalgamated Financial Corp. reportó ingresos por intereses totales de $ 248.3 millones. Desglose de los ingresos por intereses de la cartera de préstamos:

Categoría de préstamo	Ingresos de intereses ($ M)	Porcentaje de total
Préstamos comerciales	112.5	45.3%
Préstamos al consumo	87.6	35.3%
Préstamos hipotecarios	48.2	19.4%

Tarifas bancarias y cargos de servicio

Las tarifas bancarias y los cargos de servicio generaron $ 76.4 millones en ingresos para 2023:

• Tarifas de mantenimiento de la cuenta: $ 24.6 millones
• Tarifas de transacción de cajeros automáticos: $ 15.3 millones
• Tarifas de sobregiro: $ 18.2 millones
• Tasas de transferencia de cables: $ 9.5 millones
• Otros cargos de servicio: $ 8.8 millones

Tarifas de asesoramiento de inversión y gestión de patrimonio

Los ingresos por servicios de inversión para 2023 totalizaron $ 93.7 millones:

Categoría de servicio	Ingresos ($ M)
Tarifas de gestión de activos	52.6
Servicios de asesoramiento financiero	27.3
Tarifas de planificación de jubilación	13.8

Tesoro e ingresos comerciales

Ingreso total de negociación e tesoro para 2023: $ 57.2 millones

• Operación de renta fija: $ 28.6 millones
• COMIDAD DE EQUIDAD: $ 18.9 millones
• Comercio de divisas: $ 9.7 millones

Ingresos de la transacción bancaria digital

Las transacciones bancarias digitales generaron $ 42.5 millones en 2023:

Servicio digital	Ingresos ($ M)	Índice de crecimiento
Transacciones bancarias en línea	22.3	8.7%
Transacciones bancarias móviles	15.6	12.4%
Procesamiento de pagos digitales	4.6	15.2%

Amalgamated Financial Corp. (AMAL) - Canvas Business Model: Value Propositions

You're looking at what Amalgamated Financial Corp. (AMAL) offers that makes it stand out, especially when you compare it to other regional banks. It's all about aligning capital with mission-driven clients and maintaining a fortress balance sheet.

Socially responsible banking; net-zero operations

Amalgamated Financial Corp. positions itself as the bank for people who care about where their money goes. This commitment is formalized through its status as America's largest B Corporation bank and a member of the Global Alliance for Banking on Values. The operational commitment to the environment is concrete:

• Target to achieve net zero emissions in financing and operations by the year 2045.
• Target for 100% carbon-free electricity usage by 2032.
• The Climate Impact Debit Mastercard replaces up to 80% of fossil-based plastics found in traditional cards.

Access to long-term Commercial Property Assessed Clean Energy (C-PACE) financing

The focus on climate finance translates directly into specialized lending products. Amalgamated Bank is actively deploying capital into energy efficiency and renewable projects for commercial properties. As of the third quarter of 2025, the total PACE assessments on the books stood at $1.2 billion. The bank recently announced a significant commitment to this area, pledging $250 million to the FASTPACE Platform to accelerate C-PACE lending nationwide. Management projected quarterly C-PACE originations in the latter half of 2025 to be between $15 million and $20 million. To be fair, nearly 40% of the total lending portfolio is invested in climate protection solutions.

Full suite of commercial, retail, and trust services

You get the full spectrum of banking services, not just niche offerings. As of September 30, 2025, the balance sheet supported this breadth:

Service Area Metric	Amount as of September 30, 2025
Total Assets	$8.7 billion
Total Net Loans	$4.7 billion
Total Deposits	$7.8 billion
Trust Assets Under Custody	$37.9 billion
Trust Assets Under Management	$16.6 billion

High capital stability and low-risk asset profile

The bank emphasizes a rock-solid balance sheet, which is a key differentiator in volatile times. You can see this stability clearly in the capital ratios reported for the third quarter of 2025:

Capital/Risk Metric	Ratio as of September 30, 2025
Common Equity Tier 1 (CET1) Capital Ratio	14.21%
Total Risk-Based Capital Ratio	16.41%
Tier 1 Leverage Capital Ratio	9.18%
Nonperforming Assets to Total Assets	0.26%
Allowance for Credit Losses to Total Loans	1.18%

The tangible book value per share stood at $25.31 on that date. Nonperforming assets decreased by 34.6% during the quarter to $23.0 million.

Dedicated service for politically active and not-for-profit organizations

A core segment is serving organizations aligned with progressive and social justice missions, including political entities and nonprofits. This focus drives a specific funding component. As of the third quarter of 2025, political deposits, which show cyclical patterns, increased by 19% to reach $1.4 billion, encompassing both on and off-balance sheet accounts. The bank explicitly states it focuses on mission-aligned businesses, such as nonprofits and sustainable companies.

Finance: draft 13-week cash view by Friday.

Amalgamated Financial Corp. (AMAL) - Canvas Business Model: Customer Relationships

You're looking at how Amalgamated Financial Corp. keeps its clients close, which is really about aligning with their mission. The bank is America's largest B Corp bank and a member of the Global Alliance for Banking on Values, which isn't just marketing fluff; it's the core of their advisory approach for many clients. This commitment helps them attract and retain organizations that care deeply about where their money goes.

The customer base is intentionally focused. They target advocacy-based non-profits, social welfare organizations, national labor unions, political organizations, foundations, and socially responsible businesses. This alignment means the advisory service is inherently values-based. For instance, deposits from politically active customers-campaigns, PACs, advocacy-based organizations, and state/national party committees-grew from $1.1 billion as of March 31, 2025, to $1.4 billion as of September 30, 2025. That's a clear signal of relationship strength in that segment.

For institutional clients, dedicated relationship managers are key, especially as the commercial portfolio grows. We saw them hire a Senior Relationship Manager in Q2 2025 to focus on growing the commercial real estate portfolio in the West and expand the customer base in California. This shows a direct investment in high-touch, specialized coverage for complex commercial needs. It's about having a specific person who understands your sector, not just a general banker.

The long-term relationship focus is what drives deposit reliability, which is crucial for a bank. They track this with what they call Super-core deposits-those from commercial and consumer customers with a relationship length of greater than 5 years. These deposits are sticky. As of Q1 2025, Super-core deposits totaled approximately $4.0 billion, making up 54% of total deposits. By Q2 2025, this grew to about $4.2 billion, still comprising 54%. This stability allows the bank to pay down short-term borrowings, as they did after the political outflows at the end of the election cycle, showing the value of those long-term ties.

The Trust and Custody business requires a high-touch service because the needs are complex, involving asset safekeeping and investment management for mission-aligned entities. This segment shows consistent growth, which speaks to the quality of the service provided. You can see the scale of these relationships below:

Metric (As of End of Quarter)	Q1 2025 (March 31)	Q2 2025 (June 30)	Q3 2025 (September 30)
Assets Under Custody (Billions USD)	$35.7	$36.5	$37.9
Assets Under Management (Billions USD)	$14.2	$15.6	$16.6

The growth in both custody and management assets suggests clients trust Amalgamated Financial Corp. with more responsibility over time. Still, management noted in Q1 2025 that improving the consistency of the trust business performance would take time, with meaningful improvement not expected until 2026. That's a realistic timeline for building trust in complex services.

Here are the key relationship metrics that feed into deposit stability:

• Super-core deposits comprised 54% of total deposits in Q1 and Q2 2025.
• Average cost of total deposits was 159 basis points in Q1 2025.
• Non-interest-bearing deposits were 39% of ending total deposits in Q1 2025.
• Total on-balance sheet deposits reached $7.8 billion by September 30, 2025.

Finance: draft the 13-week cash view by Friday.

Amalgamated Financial Corp. (AMAL) - Canvas Business Model: Channels

You're looking at how Amalgamated Financial Corp. gets its value proposition to its customers, and it's a mix of old-school presence and modern, tech-enabled platforms. The physical footprint is concentrated, but the lending reach is national, especially through specialized programs.

The physical presence channels are anchored in key metropolitan areas, supporting their commercial and retail customer base. This is how they maintain a tangible connection while pushing scale elsewhere.

• Combined network of five branches across New York City, Washington D.C., and San Francisco.
• A dedicated commercial office located in Boston.

For digital reach, Amalgamated Financial Corp. relies on its digital banking platform, which they state includes an integrated monetization infrastructure. While I don't have the latest active user counts or specific digital revenue figures for late 2025, the overall balance sheet growth suggests this channel is supporting a national operation.

The national reach is heavily channeled through specialized lending platforms, particularly in commercial and sustainable finance. The new West Coast lending team supports this expansion, though specific team size or volume data isn't public yet. The scale of their overall lending activity provides a clear picture of channel effectiveness:

Metric	As of September 30, 2025	As of June 30, 2025	As of March 31, 2025
Total Net Loans Receivable	$4.7 billion	$4.7 billion	$4.6 billion
Commercial Loan Portfolio Percentage (C&I, Multifamily, CRE)	65.7% of total loans	N/A	N/A
Total PACE Assessments	N/A	$1.2 billion	$1.2 billion
PACE Assessment Growth (Linked Quarter)	N/A	$16.3 million increase	$3.2 million increase

The commitment to the National C-PACE and commercial lending platforms is substantial. This is where they deploy capital nationally, often through partnerships. For instance, Amalgamated Bank announced a capital commitment of up to $250 million to fund commercial real estate projects originated through Allectrify's FASTPACE.com C-PACE lending platform. This commitment is designed to support projects in the underserved middle market, specifically those ranging from $250,000 to $10 million. To be fair, the bank already held over $1.2 billion in PACE assets as of June 2025, showing this platform is a core part of their channel strategy.

• Commercial loan portfolio makes up 65.7% of the total loan book as of Q3 2025.
• Specific C-PACE financing examples include a $1.3 million deal in New Bedford, MA.
• The bank's lending supports projects in the $250,000 to $10 million range via the FASTPACE platform.

Finance: draft 13-week cash view by Friday.

Amalgamated Financial Corp. (AMAL) - Canvas Business Model: Customer Segments

You're looking at the core groups Amalgamated Financial Corp. (AMAL) serves, which is central to its mission-driven strategy. This isn't just about banking; it's about banking for specific causes and communities.

The political segment is a significant anchor for deposits. As of the second quarter ended June 30, 2025, deposits held by politically active customers-including campaigns, PACs, advocacy-based organizations, and party committees-stood at $1.2 billion, which was an increase of $136.5 million during that quarter. By the third quarter of 2025, these political deposits had further increased to $1.4 billion. This segment's activity often follows election cycles, showing a historical pattern of rebuilding deposits post-election.

The bank targets advocacy-based non-profits and social welfare organizations, which is another key area for deposit gathering. In the second quarter of 2025, the not-for-profit segment grew deposits by more than $100 million. For context, as of March 31, 2025, off-balance sheet deposits, which include some not-for-profit deposits, totaled $214.5 million.

The foundational segment ties directly back to the bank's origin. Amalgamated Bank was formed in 1923 by the Amalgamated Clothing Workers of America, one of the country's oldest labor unions. This historical relationship continues to define a core group of constituents.

For lending, Commercial Real Estate (CRE) and Multifamily borrowers are key growth areas. As of September 30, 2025, the combined Multifamily and CRE loan portfolios totaled $1.9 billion. Looking closer at the loan book composition for that same date, Multifamily loans accounted for 30.4% of the total loan portfolio, while commercial real estate loans represented 8.3%.

Here's a quick look at how those growth loan portfolios performed in the second quarter of 2025:

Loan Category	Q2 2025 Increase (Millions USD)	Portfolio % of Total Loans (Q3 2025 End)
Multifamily Loans	$34.2	30.4%
Commercial Real Estate (CRE) Loans	$13.1	8.3%
Commercial and Industrial (C&I) Loans	$13.5	(Included in Growth Mode)

The retail side focuses on customers seeking values-aligned banking, which supports the stable funding base. The bank emphasizes what it calls 'super-core deposits'-accounts held for over 5 years-which are a critical component of stability. These super-core deposits totaled $4.2 billion as of Q2 2025, representing 55% of total core deposits.

Overall, the customer base is diverse, spanning mission-aligned entities and individuals. You can see the scale of the operation supporting these segments:

• Total on-balance sheet deposits as of June 30, 2025, were $7.7 billion.
• Total assets as of September 30, 2025, reached $8.7 billion.
• The bank is a certified B Corporation® and a member of the Global Alliance for Banking on Values.
• Non-interest-bearing deposits represented 36% of ending total deposits for Q2 2025.

The trust business also serves institutional clients, holding $37.90 billion in assets under custody and $16.60 billion in assets under management as of September 30, 2025. That's a lot of assets under care, defintely showing the breadth of the client base beyond simple deposits and loans.

Finance: draft 13-week cash view by Friday.

Amalgamated Financial Corp. (AMAL) - Canvas Business Model: Cost Structure

You're looking at the expense side of Amalgamated Financial Corp.'s operations as of late 2025, specifically focusing on the third quarter results. Honestly, for a bank, the cost structure is dominated by the cost of money and the cost of running the business, so let's break down the key drivers from the Q3 2025 filing.

The total Non-interest expense for Amalgamated Financial Corp. in the third quarter of 2025 hit $43.6 million. This is up from the linked quarter, showing operational costs are creeping up, which is something to watch closely.

The bank also had to set aside funds for potential loan defaults, reporting a Provision for credit losses of $5.3 million for Q3 2025. This was higher than the prior quarter's provision of $4.9 million. Management noted this was tied to reserves for a specific $2.8 million multifamily loan that went nonaccrual and a construction loan.

The primary drivers behind the sequential increase in core non-interest expense were personnel and tech investment. Here's a quick look at the sequential dollar increases that pushed the core non-interest expense up by $2.9 million:

• Compensation and employee benefits: A sequential increase of $2.2 million, tied to incentives related to company performance.
• Technology and professional fees for digital transformation: An increase of $0.5 million, reflecting continued investment in the new digital platform launch.

The cost of funding also moved up. Specifically, the Interest expense on interest-bearing deposits saw an increase of $2.0 million compared to the linked quarter. This rise was primarily due to a higher average balance of total interest-bearing deposits, which grew by $215.7 million sequentially, even though the cost per basis point only ticked up slightly.

To map out the major components contributing to the cost base as of Q3 2025, here is a summary of the key reported figures:

Cost Component	Q3 2025 Amount (or Change)	Context/Period
Total Non-Interest Expense	$43.6 million	Quarterly Total
Provision for Credit Losses	$5.3 million	Quarterly Expense
Compensation Expense Driver (Sequential Increase)	$2.2 million increase	Linked Quarter Change
Technology Spend Driver (Sequential Increase)	$0.5 million increase	Linked Quarter Change
Interest Expense on Interest-Bearing Deposits (Sequential Increase)	$2.0 million increase	Linked Quarter Change

The bank is clearly spending to modernize its platform, which is a forward-looking cost, but you see that personnel costs remain the single largest driver of sequential expense movement. Finance: draft a variance analysis comparing Q3 2025 OpEx to the Q2 2025 run-rate by Monday.

Amalgamated Financial Corp. (AMAL) - Canvas Business Model: Revenue Streams

You're looking at how Amalgamated Financial Corp. (AMAL) brings in the money, and honestly, it's still heavily reliant on the core banking spread. For the full year 2025, management is guiding Net Interest Income (NII) to land between $293 million and $297 million. That's the engine. To give you a recent pulse, Q3 2025 NII came in at $76.4 million, showing a nice sequential lift from Q2's $72.9 million.

Here's a quick snapshot of the key revenue-driving numbers we have as of late 2025:

Revenue Component	Amount/Metric	Date/Period
Full Year 2025 NII Guidance	$293 million to $297 million	2025 Guidance
Net Interest Income (NII)	$76.4 million	Q3 2025
Non-interest Income	$9.2 million	Q3 2025
Assets Under Custody (Trust)	$37.9 billion	September 30, 2025
Net Loans Receivable	$4.7 billion	September 30, 2025

The Trust and Custody segment provides a stable, fee-based revenue layer. As of September 30, 2025, the trust business held $37.9 billion in assets under custody. While the search results don't break out the exact fee revenue from this, it's a significant base for fee generation, complementing the $16.6 billion in assets under management they also held at that date.

Interest income from the loan book is central. Amalgamated Financial Corp. had $4.7 billion in net loans receivable as of September 30, 2025. This portfolio, which is heavily weighted toward commercial lending, is generating yield; loan interest income specifically grew by $3.6 million in the third quarter alone. Commercial banking fees and loan origination fees fall under the broader Non-interest income bucket, which was reported at $9.2 million for Q3 2025.

To round out the picture of what's flowing in, consider these supporting Q3 2025 figures:

• Net Interest Margin expanded to 3.60%.
• Loan yields increased by 17 basis points.
• Total revenue (GAAP) was reported at $118.7 million.
• Core revenue was $85.61 million.

Finance: draft Q4 2025 revenue projection variance analysis by next Tuesday.