Amalgamated Bank
Amalgamated Bank is an American financial institution. It is the largest union-owned bank and one of the only unionized banks in the United States. Amalgamated Bank is currently majority-owned by Workers United, an SEIU Affiliate.
| Company type | Public |
|---|---|
Traded as | Nasdaq: AMAL (Class A) Russell 2000 Index component |
| Industry | Banking |
| Founded | April 14, 1923 |
| Headquarters | 275 Seventh Avenue, New York City, New York, U.S. |
Key people | Priscilla Sims Brown (president & CEO) |
| Revenue | US$ 126.67 million (2016) |
Net income | US$ 10.4 million (Q2 2021) |
| Total assets | US$ 7.8 billion (2023) |
Number of employees | 378 (2020) |
| Subsidiaries | New Resource Bank |
| Website | amalgamatedbank.com |
It was founded on April 14, 1923, by the Amalgamated Clothing Workers of America. As of 30 July 2023, Amalgamated Bank had $7.8 billion in assets. Through its Institutional Asset Management and Custody Division, Amalgamated Bank is one of the leading providers of investment and trust services to Taft–Hartley plans in the United States. The bank oversees over $45 billion in investment advisory and custodial services.
In August 2018, Amalgamated Bank filed an initial public offering and became publicly traded on the NASDAQ, under the ticker symbol "AMAL".
The bank offers personal banking, small business banking solutions, commercial banking, and institutional investing services across New York, California, Massachusetts, Washington, D.C., and Colorado.