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AMAL on Nasdaq

Amalgamated Financial Corp.

Amalgamated Financial Corp. is an American state commercial bank, incorporated in Delaware.1 It is headquartered in New York, New York.1

$47.16 up 0.64 (1.36%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 21, 2026.

Overview

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  • TickerAMAL on Nasdaq1
  • IndustryState Commercial Banks1
  • HeadquartersNew York, New York1
  • Incorporated inDE3
  • Business address99 Park Avenue, New York, Ny3
  • Filer categoryAccelerated filer3

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Amalgamated Financial Corp., a Delaware public benefit corporation ("we" or the "Company"), was formed on August 25, 2020 to serve as the holding company for Amalgamated Bank (the "Bank") and is a bank holding company registered with the Board of Governors of the Federal Reserve under the Bank Holding Company Act of 1956, as amended. On March 1, 2021 (the “Effective Date”), the Company acquired all of the outstanding stock of Amalgamated Bank, a New York state-chartered commercial bank in a statutory share exchange transaction (the “Reorganization”) effected under New York law and in accordance with the terms of a Plan of Acquisition dated September 4, 2020. Pursuant to the Reorganization, the Bank became the sole subsidiary of the Company, the Company became the holding company for the Bank and the stockholders of the Bank became stockholders of the Company.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income678910$104.4M in 2025+121% since 2019
0$50.0M$100.0M$150.0M2019: $47.2M$47.2M20192020: $46.2M$46.2M2020−2%2021: $52.9M$52.9M2021+15%2022: $81.5M$81.5M2022+54%2023: $88.0M$88.0M2023+8%2024: $106.4M$106.4M2024+21%2025: $104.4M$104.4M2025−2%

Every line of the income statement as filed: the last 3 fiscal years, latest first.10

Period ending2025-12-312024-12-312023-12-31
Loans$240.6M$215.4M$191.3M
Securities$176.3M$177.2M$161.0M
Interest-bearing deposits in banks$5.3M$8.7M$5.8M
Total interest and dividend income$422.2M$401.3M$358.1M
Deposits$121.6M$113.5M$81.1M
Borrowed funds$2.9M$5.4M$15.6M
Total interest expense$124.4M$118.9M$96.8M
NET INTEREST INCOME$297.8M$282.4M$261.3M
Provision for credit losses$16.3M$10.3M$14.7M
Net interest income after provision for credit losses$281.5M$272.1M$246.6M
Trust Department fees$16.2M$15.2M$15.2M
Service charges on deposit accounts$17.5M$32.2M$11.0M
Bank-owned life insurance income$3.1M$2.5M$2.9M
Losses on sale of securities and other assets, net-$3.4M-$9.7M-$7.4M
Gain (loss) on sale of loans and changes in fair value on loans held-for-sale, net-$2.7M-$8.2M$32.0K
Equity method investments income (loss)-$1.7M-$831.0K$4.9M
Other income$2.0M$2.1M$2.7M
Total non-interest income$30.9M$33.2M$29.3M
Compensation and employee benefits$98.6M$93.8M$85.8M
Occupancy and depreciation$13.4M$13.1M$13.6M
Professional fees$14.3M$10.0M$9.6M
Technology$24.1M$19.8M$17.7M
Office maintenance and depreciation$2.1M$2.5M$2.8M
Amortization of intangible assets$574.0K$730.2K$887.7K
Advertising and promotion$2.4M$3.7M$4.2M
Federal deposit insurance premiums$3.8M$3.7M$4.0M
Other expense$13.1M$12.5M$12.6M
Total non-interest expense$172.2M$159.8M$151.2M
Income before income taxes$140.2M$145.6M$124.7M
Income tax expense$35.7M$39.2M$36.8M
Net income$104.4M$106.4M$88.0M
Earnings per common share - basic (in dollars per share)$3.44$3.48$2.88
Earnings per common share - diluted (in dollars per share)$3.41$3.44$2.86

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Corporate structure

Amalgamated Financial Corp. sits at the top of its group. 15 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Amalgamated Financial Corp.

  • BlackRock Portfolio Management LLC Filed SCHEDULE 13G on Amalgamated Financial Corp., latest Jan 21, 2026 (3 filings since Jul 15, 2025)
  • United Workers Filed SCHEDULE 13G on Amalgamated Financial Corp., latest Feb 12, 2025 (2 filings since Feb 6, 2024)
  • BlackRock Filed SCHEDULE 13G/A on Amalgamated Financial Corp., latest Feb 7, 2025 (4 filings since Feb 3, 2023)
  • Adage Capital Management, L.P. Filed SC 13G/A on Amalgamated Financial Corp., latest Nov 12, 2024
  • ADAGE CAPITAL PARTNERS GP, L.L.C. Filed SC 13G/A on Amalgamated Financial Corp., latest Feb 7, 2024 (3 filings since Feb 10, 2022)
  • Amalgamated Financial Corp. New York, New York
    • 1. LV Holdings LLC, incorporated in Subsidiary · New York, United States
    • 1. New Hillman I GP, LLC, incorporated in Subsidiary · New York, United States
    • 2. LV Holdings Sole Member LLC, incorporated in Subsidiary · New York, United States
    • 2. New Hillman I, L.P., incorporated in Subsidiary · New York, United States
    • 3. 1352 Lofts Property Corporation, incorporated in Subsidiary · Pennsylvania, United States
    • 3. The New Hillman Company, incorporated in Subsidiary · New York, United States
    • 4. 1352 Lofts Property Holdings, LP, incorporated in Subsidiary · Pennsylvania, United States
    • 4. 275A Property Holdings, Inc., incorporated in Subsidiary · New York, United States
    • 5. 275R Property Holdings, Inc., incorporated in Subsidiary · New York, United States
    • 5. Tower Drive Property Holdings LLC, incorporated in Subsidiary · Rhode Island, United States
    • 6. AT2017 LLC, incorporated in Subsidiary · New Jersey, United States
    • 6. Tower Drive Development LLC, incorporated in Subsidiary · Rhode Island, United States
    • 7. Amalgamated Real Estate Management Company, Inc., incorporated in Subsidiary · New York, United States
    • 7. One Madison R/A Holdings, LLC, incorporated in Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Amalgamated Financial Corp. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$32.8M10 Dec 31, 2025$35.0M10 Dec 31, 2024−6.3%
Accumulated depreciation$28.1M10 Dec 31, 2025$28.6M10 Dec 31, 2024−1.7%
Property and equipment, net$4.7M10 Dec 31, 2025$6.4M10 Dec 31, 2024−26.6%
Operating-lease assets (leased space)$9.6M10 Dec 31, 2025$14.2M10 Dec 31, 2024−32.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$291.2M10 Dec 31, 2025$60.7M10 Dec 31, 2024+379.4%
Stakes in other companies (equity method)$8.0M10 Dec 31, 2025$8.5M10 Dec 31, 2024−5.9%
Loans, net of allowance$4.9B10 Dec 31, 2025$4.6B10 Dec 31, 2024+6.2%
Deposits held (banks)$7.9B10 Dec 31, 2025$7.2B10 Dec 31, 2024+10.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$12.9M10 Dec 31, 2025$12.9M10 Dec 31, 20240%
Finite-lived intangibles, gross$9.1M10 Dec 31, 2025$9.1M9 Dec 31, 20240%
Accumulated amortization$8.2M10 Dec 31, 2025$7.6M10 Dec 31, 2024+7.9%
Finite-lived intangibles, net$913.0K10 Dec 31, 2025$1.5M10 Dec 31, 2024−39.1%

Properties, in its own words

As of December 31, 2025, our three branch offices in New York City, one branch office in Washington, D.C., one branch office in San Francisco, and one commercial office in Boston are leased. We also lease an office in New York City that serves as our corporate headquarters.

During the year ended December 31, 2025, the Company entered into a new fifteen-year leases for the Company's headquarters in New York City, which will replace the current headquarters, a new office in Oakland, and a new branch in New York City, which replaces an existing branch. These leases are expected to commence in 2026.

The rest of Item 2

We believe that our current facilities are adequate to meet our present and foreseeable needs, subject to possible future expansion.

Item 2 of the 10-K filed Mar 5, 2026.5

Leadership

Who has led Amalgamated Financial Corp., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Priscilla Brown2021–now

President

  1. Priscilla Brown2021–now

Chief financial officer

  1. Andrew Labenne2021
  2. Jason Darby2022–now

Chief operating officer

  1. Martin P. Murrell2021–2022
2025
Board members and other officers (35)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • 1. LV Holdings LLC, incorporated in New York4
  • 1. New Hillman I GP, LLC, incorporated in New York4
  • 2. LV Holdings Sole Member LLC, incorporated in New York4
  • 2. New Hillman I, L.P., incorporated in New York4
  • 3. 1352 Lofts Property Corporation, incorporated in Pennsylvania4
  • 3. The New Hillman Company, incorporated in New York4
  • 4. 1352 Lofts Property Holdings, LP, incorporated in Pennsylvania4
  • 4. 275A Property Holdings, Inc., incorporated in New York4
  • 5. 275R Property Holdings, Inc., incorporated in New York4
  • 5. Tower Drive Property Holdings LLC, incorporated in Rhode Island4
  • 6. AT2017 LLC, incorporated in New Jersey4
  • 6. Tower Drive Development LLC, incorporated in Rhode Island4
  • 7. Amalgamated Real Estate Management Company, Inc., incorporated in New York4
  • 7. One Madison R/A Holdings, LLC, incorporated in Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jul 23, 20268-K Results of operations; Regulation FD disclosure53
  2. Jul 21, 20268-K Regulation FD disclosure54
  3. Jun 11, 20268-K Other events55
  4. May 22, 20268-K Shareholder vote56
  5. Apr 23, 20268-K Results of operations; Regulation FD disclosure57
  6. Apr 21, 20268-K Regulation FD disclosure58
  7. Jan 22, 20268-K Results of operations; Regulation FD disclosure59
  8. Jan 20, 20268-K Regulation FD disclosure60
  9. Nov 10, 20258-K Regulation FD disclosure61
  10. Oct 23, 20258-K Results of operations; Regulation FD disclosure62
  11. Oct 21, 20258-K Regulation FD disclosure63
  12. Jul 24, 20258-K Results of operations; Regulation FD disclosure64
  13. Jun 4, 2021New chief executive Priscilla Brown becomes CEO14

Calendar

Coming up

  1. Oct 22, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.91 a share, on Oct 23, 2025.65

When it reported results

  1. Jul 23, 2026Reported quarterly or annual results53
  2. Apr 23, 2026Reported quarterly or annual results57
  3. Jan 22, 2026Reported quarterly or annual results59
  4. Oct 23, 2025Reported quarterly or annual results62
  5. Jul 24, 2025Reported quarterly or annual results64
  6. Apr 24, 2025Reported quarterly or annual results66
  7. Jan 23, 2025Reported quarterly or annual results67
  8. Oct 24, 2024Reported quarterly or annual results68

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

534 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 71 major events, 351 insider forms, 13 large holders, 79 other. The latest 20:

  1. Oct 5, 20264 EDGAR
  2. Sep 17, 20264 PRIMARY DOCUMENT EDGAR
  3. Sep 15, 2026144 EDGAR
  4. Sep 15, 20264 EDGAR
  5. Sep 15, 20264 EDGAR
  6. Sep 14, 2026144/A EDGAR
  7. Sep 11, 20264 EDGAR
  8. Sep 11, 20264 EDGAR
  9. Sep 11, 2026144 EDGAR
  10. Sep 11, 20264 EDGAR
  11. Sep 11, 20264 EDGAR
  12. Sep 10, 2026144 EDGAR
  13. Sep 10, 2026144 EDGAR
  14. Sep 10, 20264 EDGAR
  15. Sep 10, 20264 EDGAR
  16. Sep 8, 2026144 EDGAR
  17. Sep 8, 2026144 EDGAR
  18. Sep 8, 2026144 EDGAR
  19. Sep 8, 2026144 EDGAR
  20. Sep 8, 2026144 EDGAR

The 534 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

162 open-market trades by officers, directors and large owners since October 2021: 3 buys and 159 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 15, 2026Searby SeanEVP Chief Info. & Ops. OfficerSale3,314$47.75$158.2KForm 4
Sep 14, 2026Southern Region Workers United/SEIU10% ownerSale228,284$47.84$10.9MForm 4
Sep 14, 2026Workers United10% ownerSale228,284$47.84$10.9MForm 4
Sep 11, 2026Southern Region Workers United/SEIU10% ownerSale234,128$47.88$11.2MForm 4
Sep 11, 2026Workers United10% ownerSale234,128$47.88$11.2MForm 4
Sep 10, 2026Darby JasonSenior Executive VP and CFOSale19,995$48.10$961.8KForm 4
Sep 10, 2026Romney Edgar JrChief Strategy & Admin OfficerSale5,992$47.46$284.4KForm 4
Sep 9, 2026Brown Sam D.SEVP, Chief Banking OfficerSale735$47.61$35.0KForm 4
Sep 9, 2026Southern Region Workers United/SEIU10% ownerSale79,649$47.91$3.8MForm 4
Sep 9, 2026Rochester Regional Joint Board Fund For The Future10% ownerSale79,649$47.91$3.8MForm 4
Sep 8, 2026Tenner MandyEVP, Chief Legal OfficerSale2,920$48.73$142.3KForm 4
Sep 8, 2026Brown Sam D.SEVP, Chief Banking OfficerSale30,000$48.42$1.5MForm 4
Sep 8, 2026Southwest Regional Joint Board, Workers United10% ownerSale42,910$48.56$2.1MForm 4
Sep 8, 2026New York-New Jersey Regional Joint Board, Workers United10% ownerSale42,910$48.56$2.1MForm 4
Sep 4, 2026Southwest Regional Joint Board, Workers United10% ownerSale68,783$49.20$3.4MForm 4
Sep 4, 2026New York-New Jersey Regional Joint Board, Workers United10% ownerSale68,783$49.20$3.4MForm 4
Sep 3, 2026Southwest Regional Joint Board, Workers United10% ownerSale44,658$49.43$2.2MForm 4
Sep 3, 2026New York-New Jersey Regional Joint Board, Workers United10% ownerSale44,658$49.43$2.2MForm 4
Sep 2, 2026Darby JasonSenior Executive VP and CFOSale1$48.20$66Form 4
Sep 2, 2026Southwest Regional Joint Board, Workers United10% ownerSale44,244$48.19$2.1MForm 4

All 162 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Priscilla Sims Brown$1.1M$4.4M74
2025Jason Darby$472.1K$1.8M74
2025Sam Brown$396.0K$1.6M74
2025Edgar RomneyJr.$372.4K$1.4M74
2025Sean Searby$407.6K$1.3M74
2024President and Chief Executive Officer$1.0M$5.3M74
2024Senior Executive VicePresident and Chief Financial Officer$453.9K$1.5M74
2024Executive VicePresident and Chief Information and Operations Officer$355.7K$1.0M74
2023President and Chief Executive Officer$959.6K$3.3M74
2023Senior Executive VicePresident and Chief Financial Officer$435.3K$1.1M74
2023Executive VicePresident and Chief Information and Operations Officer$352.0K$715.7K74

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.3,405,902$156.3M0.0%−60,966
Dimensional Fund Advisors LP1,407,794$64.6M0.0%+3,064
Nomura Asset Management International Inc.1,131,014$51.9M0.1%−51,649
Vanguard Capital Management LLC830,199$38.1M0.0%+8,606
American Century Companies Inc747,707$34.3M0.0%+80,703
State Street Corp700,195$32.1M0.0%−48,739
Alliancebernstein L.P.793,232$30.8M0.0%+41,808
Adage Capital Partners Gp, L.l.c.575,016$26.4M0.0%−265,092
Geode Capital Management, LLC536,595$24.6M0.0%−34,495
First Manhattan Co. Llc.396,495$18.2M0.0%−6,280
Vanguard Portfolio Management LLC396,083$18.2M0.0%−47,895
Federated Hermes, Inc.330,795$15.2M0.0%+6,256
Bridgeway Capital Management, LLC296,484$13.6M0.2%+6,382
Nuveen, LLC220,308$10.1M0.0%+7,483
Northern Trust Corp205,398$9.4M0.0%−16,137
Congress Asset Management Co204,238$9.4M0.1%+30,653
Goldman Sachs Group Inc179,372$8.2M0.0%−5,957
Bank Of America Corp /de/169,300$7.8M0.0%+4,620
Charles Schwab Investment Management Inc168,284$7.7M0.0%−8,467
Millennium Management LLC154,367$7.1M0.0%+63,518
Bank of New York Mellon Corp151,010$6.9M0.0%−5,233
Empowered Funds, LLC140,724$6.5M0.0%+6,382
Vanguard Fiduciary Trust Co138,448$6.4M0.0%+1,867
Morgan Stanley119,001$5.5M0.0%−16,134
Aqr Capital Management LLC117,610$5.4M0.0%+1,248

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Amalgamated Financial Corp. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAmalgamated Financial Corp.1
  • CIK0001823608
  • Employer ID (EIN)85-27571015
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6022 State Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address99 Park Avenue, New York, NY1
  • Phone(212) 255-62001
  • Shares outstanding29,900,147 as of Aug 3, 202612
  • Public float$547.1M as of Jun 30, 20255
  • AuditorCrowe LLP, New York, New York PCAOB ID 173; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceSep 8, 20201
  • Filings603 in all: 4 (366), 8-K (84), 144 (54), 10-Q (18), 3 (18), SC 13G/A (7), 10-K (6), DEF 14A (6)1
    All 32 form types

    4/A (5), ARS (4), DEFA14A (4), 5 (3), 8-K/A (3), SCHEDULE 13G (3), 424B5 (2), FWP (2), S-8 (2), SCHEDULE 13G/A (2), 13F-HR (1), 144/A (1), 305B2 (1), 424B3 (1), 425 (1), 8-K12B (1), CORRESP (1), EFFECT (1), POS AM (1), S-3 (1), S-4/A (1), S-4EF (1), SC 13G (1), UPLOAD (1)

  • Latest filingsAnnual report (10-K) Mar 5, 2026
    Quarterly report (10-Q) Aug 4, 2026
    Proxy statement (DEF 14A) Apr 10, 2026
    Latest 8-K (8-K) Jul 23, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.01 per shareAMALThe Nasdaq Global Market

From the cover page of the 10-K filed Mar 5, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Amalgamated Financial Corp. names in Item 1A of its 10-K filed Mar 5, 2026: 49 risks under these headings, as written.5

  • Market and Interest Rate Risks
  • Our business may be adversely affected by economic conditions.
  • Fiscal challenges facing the U.S. government could negatively impact the value of investments in GSEs and the financial markets, which in turn could have an adverse effect on our financial position or results of operations.
  • Changes in U.S. trade policies and other global political factors beyond our control, including the imposition of tariffs, retaliatory tariffs, or other sanctions, may adversely impact our business, financial condition and results of operations.
  • Our operations and clients are concentrated in large metropolitan areas.
  • The fair value of our investment securities could fluctuate because of factors outside of our control, which could have a material adverse effect on us.
  • Credit Risks
  • If we fail to effectively manage credit risk, our business and financial condition will suffer.
  • We are subject to risk arising from conditions in the commercial real estate market.
  • We are exposed to higher credit risk related to our multifamily real estate lending in New York City.
  • Our consumer solar loans expose us to higher credit risk.
  • Our estimated allowance for credit losses may prove to be insufficient to absorb actual losses in our loan portfolio, which may adversely affect our business, financial condition and results of operations.
The other 39 risks
  • Operational and Business Risks
  • We are at risk of increased losses from fraud.
  • We could be adversely affected by a failure to establish and maintain effective internal controls over financial reporting.
  • Our third party relationships could expose us to operational and regulatory risks.
  • We depend on the accuracy and completeness of information about customers and counterparties.
  • We participate in a multi-employer non-contributory defined benefit pension plan for both our unionized and non-unionized employees, which could subject us to substantial cash funding requirements in the future.
  • Climate related disasters may have an effect on the performance of our business operations and asset quality which could adversely affect our financial condition and results of operations.
  • We are exposed to risks related to our PACE financings.
  • Our trust and investment management business may be negatively impacted by changes in economic and market conditions and clients may seek legal remedies for investment.
  • The investment management contracts we have with our clients are terminable without cause and on relatively short notice by our clients, which makes us vulnerable to short term declines in the performance of the securities under our management.
  • Risks Related to Privacy and Technology
  • A breach of our operational or security systems or infrastructure, or those of our third-party vendors and other service providers, including as a result of cyber-attacks, could disrupt our businesses, result in the disclosure or misuse of confidential or proprietary information, damage our reputation, increase our costs and cause losses.
  • Our information technology systems may be subject to failure or interruption.
  • We depend on information technology and telecommunications systems of third-party servicers, and systems failures, interruptions or breaches of security involving these systems could have an adverse effect on our operations, financial condition and results of operations.
  • We must respond to rapid technological changes, and these changes may be more difficult or expensive than anticipated.
  • Risks Related to Our Human Capital
  • We depend on our executive officers and other key employees, and our ability to attract additional key personnel, to continue the implementation of our long-term business strategy, and we could be harmed by the unexpected loss of their services.
  • Our business could suffer if we experience employee work stoppages, union campaigns or other labor difficulties, and efforts by labor unions could divert management attention and adversely affect operating results.
  • Capital and Liquidity Risks
  • We are subject to liquidity risk.
  • Our business needs and future growth may require us to raise capital, but that capital may not be available or may be dilutive.
  • We are subject to stringent capital requirements.
  • Risks Related to Our Strategy
  • Our social responsibility positions may have a material adverse effect on our business, financial condition or results of operations.
  • We may not be able to implement our growth strategy or manage costs effectively, resulting in lower earnings or profitability.
  • New lines of business, products, product enhancements or services may subject us to additional risks.
  • Our ability to maintain our reputation is critical to the success of our business, including our ability to attract and retain customers, and failure to do so may materially adversely affect our performance.
  • We face strong competition from other banks and financial institutions and other wealth and investment management firms that could hurt our business.
  • Difficulties in obtaining regulatory approval for acquisitions and in combining the operations of acquired entities with the Company’s own operations may prevent us from achieving the expected benefits from our acquisitions.
  • Legal, Accounting, Regulatory, and Compliance Risks
  • Changes in our accounting policies or in accounting standards could materially affect how we report our financial results and condition.
  • Our accounting estimates and risk management processes and controls rely on analytical and forecasting techniques and models and assumptions, which may not accurately predict future events.
  • The banking industry is heavily regulated and that regulation, together with any future legislation or regulatory changes, could limit or restrict our activities and adversely affect our operations or financial results.
  • Our trust and investment management businesses are highly regulated.
  • The Federal Reserve may require us to commit capital resources to support the Bank.
  • We face a risk of noncompliance with the BSA and other anti-money laundering statutes and regulations and corresponding enforcement proceedings.
  • We are subject to the Community Reinvestment Act and federal and state fair lending laws, and failure to comply with these laws could lead to material penalties.
  • We are exposed to litigation and compliance risks related to our Socially Responsible Banking business model.
  • Our financial condition may be affected negatively by the costs of litigation.
  • From time to time we are, or may become, involved in suits, legal proceedings, information-gatherings, investigations and proceedings by governmental and self-regulatory agencies that may lead to adverse consequences.
  • Risks Related to Our Common Stock
  • Shares of our common stock could face volatility due to banking sector uncertainty.
  • Our ability to pay dividends is subject to regulatory limitations and the Bank’s ability to pay dividends to us is also subject to regulatory limitations.
  • We have several significant investors whose individual interests may differ from yours.
  • Transfers of our common stock owned by the Workers United Related Parties could adversely impact your rights as a stockholder and the market price of our common stock.
  • Shares of our common stock are subject to dilution.

Legal proceedings

We are subject to certain pending and threatened legal proceedings that arise out of the ordinary course of business. Additionally, we, like all banking organizations, are subject to regulatory examinations and investigations. Based upon management’s current knowledge, following consultation with legal counsel, in the opinion of management, there is no pending or threatened legal matter that would result in a material adverse effect on our consolidated financial condition or results of operation, either individually or in the aggregate.

The opening of Item 3, Legal Proceedings.5

Sources

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  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
    SEC EDGAROther events
  56. 56
  57. 57
  58. 58
  59. 59
  60. 60
  61. 61
  62. 62
  63. 63
  64. 64
  65. 65
  66. 66
  67. 67
  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74