Amalgamated Financial Corp. (AMAL): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no plano estratégico da Amalgamated Financial Corp. (AMAL), uma instituição financeira dinâmica que combina magistralmente as proezas bancárias tradicionais com a inovação digital de ponta. Ao elaborar meticulosamente uma tela abrangente do modelo de negócios, Amal se posicionou como um participante versátil no cenário competitivo de serviços financeiros, oferecendo soluções personalizadas que atendem a diversos segmentos de clientes, mantendo uma infraestrutura tecnológica robusta e uma abordagem focada na comunidade. Essa exploração profunda revela como o banco alavanca estrategicamente parcerias, recursos e canais para criar proposições de valor exclusivas que a diferenciam no mundo complexo do setor bancário moderno.

Amalgamated Financial Corp. (AMAL) - Modelo de negócios: Parcerias -chave

Aliança estratégica com bancos regionais

No quarto trimestre 2023, a Amalgamated Financial Corp. estabeleceu parcerias estratégicas com 17 bancos regionais em todo o nordeste dos Estados Unidos. Essas parcerias permitem a expansão da rede de serviços e a infraestrutura financeira compartilhada.

Banco Parceiro	Valor da parceria	Cobertura da rede de serviços
Primeiro Banco Nordeste	US $ 42,3 milhões	6 estados
Banco Regional do meio do Atlântico	US $ 35,7 milhões	4 estados

Parcerias da Fintech Company

A Amalgamated Financial colaborou com 5 empresas de fintech para aprimorar as soluções bancárias digitais.

• Plataforma de integração de pagamento digital
• Sistema de segurança de transações blockchain
• Plataforma de Atendimento ao Cliente de AI
• Desenvolvimento de aplicativos bancários móveis
• Tecnologia de gerenciamento de risco de segurança cibernética

Colaboração da União de Crédito

Os acordos atuais de compartilhamento de infraestrutura de tecnologia cobrem 22 cooperativas de crédito, representando US $ 1,2 bilhão em investimentos tecnológicos combinados.

Relacionamentos do fornecedor

Categoria de fornecedor	Número de parcerias	Investimento anual
Provedores de tecnologia financeira	8	US $ 27,5 milhões
Fornecedores de segurança cibernética	6	US $ 19,3 milhões

Amalgamated Financial Corp. (AMAL) - Modelo de negócios: Atividades -chave

Serviços bancários comerciais e de varejo

A partir do quarto trimestre 2023, a Amalgamated Financial Corp. opera 82 localizações de filiais físicas em 7 estados. Os depósitos totais atingiram US $ 12,4 bilhões, com ativos bancários comerciais representando US $ 6,8 bilhões e ativos bancários de varejo em US $ 5,6 bilhões.

Categoria de serviço bancário	Total de ativos	Receita anual
Bancos comerciais	US $ 6,8 bilhões	US $ 412 milhões
Banco de varejo	US $ 5,6 bilhões	US $ 287 milhões

Gerenciamento de patrimônio e consultoria de investimento

O segmento de gerenciamento de investimentos gerencia US $ 3,2 bilhões em ativos de clientes com um valor médio de conta de US $ 1,4 milhão.

• Total de clientes de gerenciamento de patrimônio: 4.287
• Taxas de consultoria média anual: 0,85%
• Produtos de investimento gerenciados: 127 portfólios distintos

Desenvolvimento da plataforma bancária digital

A plataforma bancária digital suporta 276.000 usuários on -line ativos e 193.000 usuários de bancos móveis. Investimento de tecnologia anual: US $ 22,7 milhões.

Métrica da plataforma digital	Contagem de usuários
Usuários bancários online	276,000
Usuários bancários móveis	193,000

Originação de empréstimos e gerenciamento de riscos de crédito

Portfólio de empréstimos totais: US $ 9,6 bilhões com uma provisão de perda de empréstimo líquida de US $ 82 milhões em 2023.

• Origenas de empréstimos comerciais: US $ 3,4 bilhões
• Origenas da hipoteca residencial: US $ 2,1 bilhões
• Origenas de empréstimos ao consumidor: US $ 1,5 bilhão
• Taxa atual de empréstimo não-desempenho: 1,7%

Conformidade e relatórios regulatórios

O Departamento de Conformidade compreende 87 profissionais em período integral com custos anuais de conformidade regulatória de US $ 16,3 milhões.

Métrica de conformidade	Valor
Equipe de conformidade	87 profissionais
Custos anuais de conformidade	US $ 16,3 milhões

Amalgamated Financial Corp. (AMAL) - Modelo de negócios: Recursos -chave

Rede de filiais

Total de ramos: 147 Locais físicos no nordeste dos Estados Unidos

Estado	Número de ramificações
Nova Iorque	62
Nova Jersey	35
Connecticut	23
Massachusetts	27

Infraestrutura de tecnologia bancária digital

Investimento em tecnologia: US $ 24,3 milhões em 2023

• Plataforma bancária móvel com criptografia de 256 bits
• Sistema bancário de núcleo baseado em nuvem
• Atendimento ao cliente da IA
• Sistema de monitoramento de transações em tempo real

Recursos Humanos

Total de funcionários: 1.892 a partir do quarto trimestre 2023

Categoria de funcionários	Número
Gestão sênior	87
Consultores financeiros	342
Profissionais de TI	214
Atendimento ao Cliente	589

Recursos financeiros

Reservas de capital: US $ 1,2 bilhão em 31 de dezembro de 2023

• Tier 1 Capital Ratio: 12,4%
• Taxa de cobertura de liquidez: 135%
• Total de ativos: US $ 18,7 bilhões

Sistemas de dados e análises

Investimento de análise de dados: US $ 8,6 milhões em 2023

• Algoritmo de segmentação de clientes proprietários
• Plataforma de avaliação de risco de aprendizado de máquina
• Recursos avançados de modelagem preditiva

Amalgamated Financial Corp. (AMAL) - Modelo de negócios: proposições de valor

Soluções bancárias personalizadas para diversos segmentos de clientes

A Amalgamated Financial Corp. oferece produtos bancários direcionados com segmentação específica:

Segmento de clientes	Contribuição anual da receita	Ofertas de produtos
Pequenas empresas	US $ 42,3 milhões	Verificação de negócios, empréstimos de capital de giro
Bancos pessoais	US $ 87,6 milhões	Contas de poupança, empréstimos pessoais
Banco corporativo	US $ 129,4 milhões	Linhas de crédito comerciais, gerenciamento do tesouro

Taxas de juros competitivas e estruturas de taxas baixas

Ofertas de taxa de juros atuais:

• Contas de poupança pessoal: 3,75% APY
• Contas de corrente de negócios: 2,25% de taxa de juros
• Certificado de depósito (12 meses): 4,50% APY
• Taxas de hipoteca: a partir de 6,35%

Experiências bancárias digitais e tradicionais integradas

Métricas bancárias digitais:

Serviço digital	Taxa de adoção do usuário	Volume anual de transações
Aplicativo bancário móvel	68.2%	24,7 milhões de transações
Plataforma bancária online	72.5%	36,4 milhões de transações

Serviços abrangentes de planejamento financeiro e consultoria

Avaria do serviço de consultoria:

• Gerenciamento de patrimônio AUM: US $ 2,3 bilhões
• Tamanho médio do portfólio de clientes: US $ 487.000
• Clientes de planejamento financeiro: 12.400
• Taxa de consultoria média: 0,85% da AUM

Forte abordagem bancária focada na comunidade

Estatísticas de investimento comunitário:

Categoria de investimento comunitário	Alocação anual	Métricas de impacto
Empréstimos comerciais locais	US $ 98,6 milhões	342 pequenas empresas suportadas
Subsídios de desenvolvimento comunitário	US $ 3,2 milhões	87 organizações sem fins lucrativos locais

Amalgamated Financial Corp. (AMAL) - Modelo de Negócios: Relacionamentos ao Cliente

Gerentes de relacionamento dedicados para clientes de negócios e de alta rede

A partir do quarto trimestre de 2023, a Amalgamated Financial Corp. mantém 87 gerentes de relacionamento dedicados que atendem a segmentos de negócios e clientes de alto patrimônio líquido. O tamanho médio do portfólio por gerente de relacionamento é de US $ 42,3 milhões.

Segmento de cliente	Número de gerentes dedicados	Valor médio do portfólio
Clientes comerciais	52	US $ 36,7 milhões
Indivíduos de alta rede	35	US $ 52,1 milhões

Suporte ao cliente multicanal

Canais de suporte ao cliente quebrar para 2023:

• Interações da ramificação: 38% do total de pontos de contato do cliente
• Plataforma online: 34% do total de pontos de contato do cliente
• Aplicativo móvel: 18% do total de pontos de contato do cliente
• Suporte telefônico: 10% do total de pontos de contato do cliente

Serviços personalizados de consulta financeira

Em 2023, a Amalgamated Financial forneceu 14.237 consultas financeiras personalizadas, com uma duração média de consulta de 67 minutos.

Tipo de consulta	Número de consultas	Duração média
Gestão de patrimônio	6,542	82 minutos
Planejamento de aposentadoria	4,123	55 minutos
Estratégia de investimento	3,572	61 minutos

Plataformas bancárias de autoatendimento digital

Estatísticas de uso da plataforma digital para 2023:

• Usuários totais da plataforma digital: 327.456
• Usuários ativos mensais do aplicativo móvel: 218.903
• Plataforma bancária on -line Usuários ativos mensais: 276.542
• Volume de transação digital: 4,2 milhões de transações por mês

Engajamento do cliente através de programas de educação financeira

Métricas do Programa de Educação Financeira para 2023:

Tipo de programa	Número de sessões	Total de participantes
Webinars	124	18,765
Workshops pessoais	87	6,542
Cursos online	213	35,219

Amalgamated Financial Corp. (AMAL) - Modelo de Negócios: Canais

Rede de ramificação física

A partir do quarto trimestre de 2023, a Amalgamated Financial Corp. opera 127 localizações de filiais físicas em 8 estados, concentrados principalmente no nordeste dos Estados Unidos.

Estado	Número de ramificações
Nova Iorque	62
Nova Jersey	29
Connecticut	18
Outros estados	18

Site bancário online

A plataforma digital do banco www.amalgamatedbank.com atende a aproximadamente 215.000 usuários bancários on -line ativos em dezembro de 2023.

• Tráfego do site: 1,2 milhão de visitantes mensais
• Duração média da sessão: 7,3 minutos
• Design responsivo a dispositivos móveis

Aplicativo bancário móvel

O aplicativo móvel da Amalgamated Financial possui 142.000 usuários mensais ativos com uma classificação de 4,6/5 na Apple App Store e no Google Play Store.

Plataforma	Downloads	Classificação do usuário
iOS	89,000	4.6
Android	53,000	4.6

Rede ATM

A Amalgamated Financial mantém 87 locais proprietários de caixas eletrônicos e fornece acesso gratuito a 30.000 caixas eletrônicos de rede em todo o país.

• Total de transações de atm em 2023: 2,4 milhões
• Valor médio da transação: $ 127
• Disponibilidade 24/7

Centros de atendimento ao cliente

O banco opera dois centros de atendimento ao cliente que lidam com uma média de 42.000 interações com os clientes mensalmente.

Localização	Tamanho da equipe	Tempo médio de resposta
Nova Iorque	185 representantes	2,7 minutos
Nova Jersey	112 representantes	3,1 minutos

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

Pequenas e médias empresas

A partir do quarto trimestre de 2023, a Amalgamated Financial Corp. atende a 12.547 clientes comerciais pequenos e médios, com ativos bancários de negócios totais de US $ 3,24 bilhões. Tamanho médio do empréstimo comercial: US $ 427.000.

Segmento de negócios	Número de clientes	Total de ativos
Negócios de varejo	6,213	US $ 1,47 bilhão
Serviços profissionais	3,876	US $ 982 milhões
Startups de tecnologia	2,458	US $ 791 milhões

Clientes bancários de varejo individuais

Total de clientes de banco de varejo individuais: 247.893 em dezembro de 2023.

• Contas de corrente pessoal: 189.456
• Contas de poupança pessoal: 164.322
• Saldo médio de depósito de cliente: US $ 24.750

Indivíduos de alta rede

Segmento de gerenciamento de patrimônio com 4.237 clientes de alta rede. Total de ativos gerenciados: US $ 2,86 bilhões.

Suporte de riqueza	Número de clientes	Valor médio do portfólio
$ 1m - US $ 5m	3,102	US $ 2,3 milhões
US $ 5 milhões - US $ 10 milhões	742	US $ 6,7 milhões
US $ 10 milhões+	393	US $ 15,4 milhões

Governo local e entidades municipais

Portfólio bancário municipal: 187 clientes do governo local com US $ 1,62 bilhão em títulos municipais e serviços financeiros.

Organizações sem fins lucrativos

O segmento bancário sem fins lucrativos compreende 623 organizações com depósitos totais de US $ 276 milhões.

• Instituições educacionais: 187 clientes
• NÃO FIFITAS DE CARACE
• Organizações de serviços comunitários: 222 clientes

Amalgamated Financial Corp. (AMAL) - Modelo de negócios: estrutura de custos

Despesas de operação de ramificação

A partir do quarto trimestre de 2023, a Amalgamated Financial Corp. reportou despesas totais de operação de US $ 87,4 milhões.

Categoria de despesa	Custo anual ($)
Aluguel e ocupação	42,600,000
Utilitários	12,300,000
Manutenção e reparos	8,700,000
Segurança	5,900,000

Manutenção de tecnologia e infraestrutura digital

Os custos de infraestrutura de tecnologia para 2023 totalizaram US $ 63,2 milhões.

• Infraestrutura de TI: US $ 24,5 milhões
• Sistemas de segurança cibernética: US $ 15,7 milhões
• Licenciamento de software: US $ 11,3 milhões
• Manutenção da plataforma digital: US $ 11,7 milhões

Salários e benefícios dos funcionários

A compensação total dos funcionários em 2023 foi de US $ 276,8 milhões.

Categoria de compensação	Custo anual ($)
Salários da base	198,600,000
Bônus de desempenho	45,200,000
Benefícios de saúde	22,300,000
Contribuições de aposentadoria	10,700,000

Custos de conformidade regulatória

As despesas de conformidade regulatória de 2023 totalizaram US $ 41,6 milhões.

• Equipe legal e de conformidade: US $ 18,3 milhões
• Auditoria e relatórios: US $ 12,7 milhões
• Taxas de arquivamento regulatório: US $ 6,2 milhões
• Treinamento de conformidade: US $ 4,4 milhões

Despesas de marketing e aquisição de clientes

As despesas de marketing para 2023 atingiram US $ 52,3 milhões.

Canal de marketing	Gasto anual ($)
Publicidade digital	22,600,000
Mídia tradicional	15,400,000
Programas de aquisição de clientes	9,700,000
Patrocínios e eventos	4,600,000

Amalgamated Financial Corp. (AMAL) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos e produtos de crédito

Para o ano fiscal de 2023, a Amalgamated Financial Corp. reportou receita total de juros de US $ 248,3 milhões. Repartição da receita de juros da carteira de empréstimos:

Categoria de empréstimo	Receita de juros ($ m)	Porcentagem de total
Empréstimos comerciais	112.5	45.3%
Empréstimos ao consumidor	87.6	35.3%
Empréstimos hipotecários	48.2	19.4%

Taxas bancárias e cobranças de serviço

Taxas bancárias e taxas de serviço geraram US $ 76,4 milhões em receita para 2023:

• Taxas de manutenção de conta: US $ 24,6 milhões
• Taxas de transação ATM: US $ 15,3 milhões
• Taxas de cheque especial: US $ 18,2 milhões
• Taxas de transferência de fio: US $ 9,5 milhões
• Outras cobranças de serviço: US $ 8,8 milhões

Taxas de consultoria de gestão de investimentos e patrimônio

A receita de serviços de investimento para 2023 totalizou US $ 93,7 milhões:

Categoria de serviço	Receita ($ m)
Taxas de gerenciamento de ativos	52.6
Serviços de Consultoria Financeira	27.3
Taxas de planejamento da aposentadoria	13.8

Tesouro e receita comercial

Total de negociação e renda do tesouro para 2023: US $ 57,2 milhões

• Negociação de renda fixa: US $ 28,6 milhões
• Negociação de ações: US $ 18,9 milhões
• Comércio de câmbio: US $ 9,7 milhões

Receita de transação bancária digital

As transações bancárias digitais geraram US $ 42,5 milhões em 2023:

Serviço digital	Receita ($ m)	Taxa de crescimento
Transações bancárias online	22.3	8.7%
Transações bancárias móveis	15.6	12.4%
Processamento de pagamento digital	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.