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212-255-6200
275 Seventh Avenue
New York, NY 10001

Amalgamated Bank, founded in 1923 by the Amalgamated Clothing Workers of America, is a commercial bank chartered in New York with nationwide service. At Amalgamated Bank - America's Labor Bank - they work hard to make your life easier. For more than 80 years, they have provided working men and women, as well as unions, associations and businesses, with affordable banking services.

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Reviews (1)

They Just Plain Stink

Their branches, products, service, and their management just plain STINK. Derick Cephas (CEO) is the biggest ignoramus to ever run that dis-organization. And for good reason...the man is a lawyer, not a banker. He runs the bank as if he knew what he were doing. His poor decisions have cost the bank dearly in terms of profits, employee morale, customer relations, Union relations, etc. The bank is going downhill and fast. Do yourself a favor and skip that dump. If you're currently a customer, switch to another bank before you are a victim of the bank's poor performance. YOU HAVE BEEN WARNED!!!



Health

Data for Q1 2014

Institution Health

B

Texas Ratio

GRADE:
C+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Amalgamated Bank had $79.39 million in non-current loans and owned real-estate with $348.42 million in equity and loan loss allowances on hand to cover it. This gives Amalgamated Bank a Texas Ratio of 22.79% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Amalgamated Bank decreased slightly from 32.02% as of March 31, 2013 to 22.79% as of March 31, 2014, resulting in a positive change of 28.84%.This indicates that the balance sheet and financial strength for Amalgamated Bank has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Amalgamated Bank has increased its total deposits by $253.34 million, resulting in 10.47% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Amalgamated Bank has shown is excellent.

Capitalization

GRADE:
C+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Amalgamated Bank has $3.79 billion in assets with $348.42 million in equity, resulting in a capitalization level of 9.19%, which is average.

Institution Statistics

Overall
FDIC Certificate #622
Year Established1923
Employees412
Primary RegulatorFDIC
Assets and Liabilities
Assets$3.79 billion
Loans$1.88 billion
Deposits$2.67 billion
Equity Capital$312.06 million
Loan Loss Allowance$36.37 million
Unbacked Noncurrent Loans$78.91 million
Real Estate Owned$479,000
Historic Data - March 2013
Assets$3.58 billion
Equity Capital$331.94 million
Loan Loss Allowance$42.24 million
Unbacked Noncurrent Loans$78.91 million
Real Estate Owned$328,000
Profit Margin - Quarterly
Net Interest Margin2.49%
Return on Assets0.18%
Return on Equity2.18%
Interest Income$30.17 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Amalgamated Bank, we are a rate comparison website and can not provide official rates or promotions.

Amalgamated Bank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Savings
0.10%--Business Savings

Amalgamated Bank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.15%$500-Money Market

Amalgamated Bank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.05%$500-NOW

Amalgamated Bank CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$500$99k5 Year USAVE Time Deposit
0.65%$500-7 Month Promotional CD
0.55%$500$99k3 Year USAVE Time Deposit
0.40%$500$99kBusiness 2 Year USAVE Time Deposit
0.35%$500$99k2 Year USAVE Time Deposit
0.30%$500$99k1 Year USAVE Time Deposit
0.30%$500$99kBusiness 1 Year USAVE Time Deposit
0.20%$500$99k6 Month USAVE Time Deposit
0.15%$500$99k3 Month USAVE Time Deposit
0.15%$500$99kBusiness 6 Month USAVE Time Deposit
0.10%$500$99kBusiness 3 Month USAVE Time Deposit

Amalgamated Bank IRA Rates

DetailsAPYMINMAXPRODUCT
1.50%$500-5 Year IRA Fixed Rate
0.65%$500-7 Month IRA Promo CD
0.35%$500-3 Year IRA Fixed Rate
0.30%$500-1 Year IRA Fixed Rate
0.25%$500-2 Year IRA Fixed Rate
Locations

Amalgamated Bank has 24 locations. Click to view all Amalgamated Bank locations.