Amalgamated Financial's first quarter was defined by robust deposit growth and a notable expansion in net interest margin, yet a significant credit event weighed on overall profitability. Management highlighted that broad-based strength across core deposit segments, including political, labor, and non-profit, helped drive revenue gains. However, CFO Jason Darby noted that an incremental reserve tied to a single multifamily borrower moved to nonaccrual status, which he described as an “isolated event” impacting earnings per share by $0.23. CEO Priscilla Sims Brown emphasized that this issue was specific to the borrower’s financial condition and not indicative of broader portfolio weakness.

Is now the time to buy AMAL? Find out in our full research report (it’s free for active Edge members).

While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.

Our Top 5 Analyst Questions From Amalgamated Financial’s Q1 Earnings Call

• David Konrad (KBW): pressed management on the adequacy of loan-to-value coverage and the expected timeline for resolving the D.C. multifamily credit. CFO Jason Darby explained reserves were set to contain P&L volatility and described staged exit options but could not provide a precise resolution timeframe.
• David Konrad (KBW): asked for a breakdown of the improved net interest income guidance and how margin trends would evolve. Darby detailed that asset growth would drive NII, with near-term margin compression from nonaccrual loans but modest expansion expected thereafter.
• David Konrad (KBW): inquired about the outlook for fee income. Darby projected stable core noninterest income with gradual improvement, driven by commercial banking and trust revenues.
• Justin Crowley (Piper Sandler): sought clarity on why the multifamily credit event was considered isolated. CEO Priscilla Sims Brown emphasized the borrower’s unique situation and stressed that portfolio reviews showed no similar risks elsewhere.
• Justin Crowley (Piper Sandler): asked about the sustainability of multifamily and PACE loan growth. Chief Banking Officer Sam Brown pointed to a strong loan pipeline, conservative underwriting, and growing contributions from a new CPACE partnership.

Catalysts in Upcoming Quarters

Looking ahead, the StockStory team will be monitoring (1) the timing and impact of the D.C. multifamily credit resolution, (2) continued deposit inflows from political, labor, and not-for-profit clients, and (3) the balance between loan growth and credit quality as the company targets expansion. Execution in fee income diversification and margin management will also be key areas of focus.

Amalgamated Financial currently trades at $40.37, down from $42.31 just before the earnings. At this price, is it a buy or sell? The answer lies in our full research report (it’s free).

High-Quality Stocks for All Market Conditions

WHILE YOU’RE HERE: Top 9 Market-Beating Stocks. The best stocks don't just beat the market once. They do it again. And again. Robust revenue growth, rising free cash flow, returns on capital that leave their competition in the dust. The market has already rewarded these businesses.

But our AI platform says the party isn't over. Find out which 9 stocks made the cut this week - FREE. Get Our Top 9 Market-Beating Stocks for Free HERE.

Stocks that have made our list include now familiar names such as Nvidia (+1,326% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.