Amalgamated Bank (A0B0) Q3 2026 Earnings Report
DE:A0B0 Q3 2026 EPS Results
- Actual EPS
- EUR 1.02
- Consensus EPS
- EUR 0.97
- Beat/Miss
- Beat by +EUR 0.05
- One Year Ago EPS
- EUR 0.82
DE:A0B0 Q3 2026 Revenue Results
- Actual Revenue
- EUR 119.86M
- Expected Revenue
- EUR 89.23M
- Beat/Miss
- Beat by +EUR 30.63M
- YoY Revenue Growth
- +12.85%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/22/2026
- Time
- Before Open
- Conference Call
- Thursday, October 22, 2026
Amalgamated Bank's next earnings date is estimated for January 28, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly positive, supported by record core net income, record net interest income and revenue, improved profitability metrics, stable credit quality, strong liquidity, raised full-year outlooks, and continued progress in PACE, technology, and workforce investments. The main challenges were expected fourth-quarter margin compression and a pause in NII momentum as political deposits run off, ongoing headquarters-related expenses, the unresolved D.C. multifamily relationship, and continued optimization of the consumer solar portfolio. Overall, the positive operating performance and outlook significantly outweighed the stated challenges.
For Q4, Amalgamated expects to run a neutral balance sheet, with net interest income that “will probably look very similar to the amount that we had in the third quarter,” while projecting modest margin compression related to the DDA/IBA deposit remix as the election cycle concludes; full-year net interest income guidance increased from a high end of $340 million to a range of $341 to $342 million, and core pretax pre provision earnings guidance increased from the prior high end target $190 million to a new range of $193 to $194 million. Expenses are expected to be generally close to Q3, maybe tick up slightly, provision expense for Q4 is expected to be a $5 million or a $5.5 million number, DDA was about 42% of total deposits at quarter-end and probably going to be somewhere in the 36% range at the end of Q4, and PACE originations were around 7% across the broader portfolio, with expectations that they could be as high as 7.75 and could start approaching an 8 number in 2027; the company does not have its guidance ready for 2027 but expects a good margin expansion opportunity throughout the year.
- Record Quarterly Earnings and RevenueCore net income increased to a record $34.6 million, or $1.14 per diluted share. Net revenue exceeded $100 million for the first time in the bank's history.
- Record Net Interest Income and Profitability MetricsNet interest income reached a record $87.9 million while net interest margin was 3.77%. Core return on average assets increased to a record 1.44%, and core return on average tangible common equity increased to a record 16.57%.
- Deposit Growth and Funding StrengthOn-balance-sheet deposits increased $256 million during the quarter to $8.7 billion, while off-balance-sheet deposits totaled $1.1 billion. Political deposits remained approximately $2 billion at quarter-end despite moving beyond the peak of the prior presidential election cycle.
- Strong Liquidity PositionThe bank maintained approximately $5 billion of cash borrowing capacity and unpledged securities, providing substantial liquidity and strategic flexibility. Management also said it could handle the election conclusion without needing a borrowing position.
- Balanced Asset DeploymentCommercial loans increased approximately $93 million during the quarter, and C-PACE assessments increased approximately $54.2 million. Lower-yielding residential mortgages and consumer solar balances declined through planned runoff, allowing capital to be redeployed into higher-performing assets.
- Balance Sheet Target ReachedThe bank reached its target balance sheet size of approximately $9.6 billion by adding $141 million of interest-earning assets across lending, PACE, and traditional securities portfolios. Runoff loan portfolios generated $39 million of redeployed cash.
- Stable Credit PerformanceCredit performance remained stable overall. Pass-rated loans represented approximately 97% of the portfolio, and annualized net charge-offs declined to 20 basis points.
- Stable Efficiency Despite Continued InvestmentThe core efficiency ratio remained approximately 49%. Management said revenue growth allowed the bank to continue investing in its technology ecosystem and necessary talent while also absorbing an expected increase in occupancy expense related to the headquarters move.
- Raised Full-Year Earnings OutlookThe bank increased its full-year net interest income outlook from a prior high end of $340 million to a range of $341 million to $342 million. The core pretax pre-provision earnings outlook was raised from a prior high-end target of $190 million to a range of $193 million to $194 million, driven mainly by strong third-quarter performance.
- PACE Growth and DiversificationManagement reported strong C-PACE activity, including approximately $54 million of quarterly production, with activity across both large transactions and the small-dollar program. The program was diversified across multiple geographies and property types, and management said it was expanding origination partners and viewed PACE as a strong target for asset generation.
- Attractive PACE Asset YieldsNew PACE originations were brought on at approximately 7% across the broader portfolio. Management said yields could reach as high as 7.75% and could approach 8% in 2027, describing the risk-adjusted returns in the asset class as phenomenal.
- Diversified and High-Quality Lending PipelineManagement described the pipeline as diversified and high quality. In multifamily, the bank is focusing on refinance-risk management, credit standards, and lower-leverage deals. In C&I, higher rates have increased sponsor equity requirements, while tax-credit expiration calendars in 2027 and 2030 are accelerating energy-project activity.
- Technology, AI, and Workforce InvestmentsThe bank expanded its use of AI-enabled tools, continued building its technology foundation, and advanced modernization initiatives intended to simplify operations, improve customer and employee experiences, strengthen the control environment, and support more business without adding complexity at the same pace. It also continued investing in employee capabilities.
- Additional Deposit DiversificationNonprofit and labor deposits increased approximately $4 million during the quarter, supporting diversification across deposit segments as political deposits entered their spend-down phase.
- Capital Return Through Share RepurchasesShare repurchases resumed during the quarter after the company increased the repurchase authorization to $40 million before the beginning of the third quarter. Management said it would continue buying stock when it believed there was value to be had.
- Longer-Term Margin Expansion OpportunityManagement said DDA balances are expected to become a growing component of the deposit mix throughout 2027 and that the bank feels comfortable there should be a good margin expansion opportunity throughout that year as asset yields and funding mix develop.
DE:A0B0 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Jan 28, 2027 | 2026 (Q4) | 0.97- | 0.89 | ― | ― |
| Oct 22, 2026 | 2026 (Q3) | 0.971.02 | 0.82 | 25.27% (+0.21) | |
| Jul 23, 2026 | 2026 (Q2) | 0.900.99 | 0.79 | 25.00% (+0.20) | |
| Apr 23, 2026 | 2026 (Q1) | 0.850.72 | 0.79 | -9.09% (-0.07) | |
| Jan 22, 2026 | 2025 (Q4) | 0.810.89 | 0.81 | 10.00% (+0.08) | |
| Oct 23, 2025 | 2025 (Q3) | 0.790.82 | 0.82 | 0.00% (+0.00) | |
| Jul 24, 2025 | 2025 (Q2) | 0.780.79 | 0.76 | 3.53% (+0.03) | |
| Apr 24, 2025 | 2025 (Q1) | 0.720.79 | 0.75 | 6.02% (+0.04) | |
| Jan 23, 2025 | 2024 (Q4) | 0.790.81 | 0.65 | 25.00% (+0.16) | |
| Oct 24, 2024 | 2024 (Q3) | 0.750.82 | 0.68 | 19.74% (+0.13) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
