Nonperforming assets increased to $35.2 million in Q2 2025, with residential nonaccrual loans driving the rise. Exposure to consumer solar loan portfolio stress is expected to continue, with 7.26% reserve coverage. Criticized and classified loans increased by $13.9 million, and a syndicated C&I credit is under review with potential for further reserves. Amalgamated Financial was ranked No. 38 by American Banker and reported net income of $26 million, core net income of $27 million, and net interest income of $72.9 million.

The bank’s balance sheet deposits grew by $321 million to $7.7 billion, with political deposits rising by $137 million. Loan growth was led by multifamily, CRE, and C&I loans, offset by declines in consumer and residential loans. Tangible book value per share increased to $24.33, and core return on average equity was 14.61%. Amalgamated Financial reaffirmed guidance for full-year 2025 and expects modest balance sheet growth in Q3. The bank is focused on strategic expansion in California and digital transformation initiatives.

Read more at Nasdaq: Amalgamated Financial (AMAL) Q2 2025 Earnings Call