Oil prices rise on talk of Russia sanctions; bouncing off recent lows
NEW YORK - Amalgamated Financial Corp. (NASDAQ:AMAL), a $954 million market cap financial institution trading at an attractive P/E ratio of 9.3, announced Tuesday the appointment of Steven SaLoutos and Tony Wells to its Board of Directors, where they will also serve on the board of Amalgamated Bank.
SaLoutos currently serves as Chief Financial Officer of ProSight Financial Association, following a 38-year career at U.S. Bank, N.A., where he most recently held the position of Executive Vice President and Midwest Regional Executive in Consumer and Business Banking. He is also a member and former Chairperson of Wisconsin Women Business Initiative Corporation, a Community Development Financial Institution. According to InvestingPro, AMAL has demonstrated strong operational execution with revenue growth of 7.14% in the last twelve months.
Wells brings nearly 40 years of executive leadership experience across regulated industries including banking, payment services, telecommunications, and energy. He currently serves as a Venture Partner at AZ-VC and sits on the boards of Nexstar Media Group (NASDAQ:NXST), Yelp (NYSE:YELP), and private company TripleLift. His previous roles include Chief Media Officer at Verizon from 2021 to 2023 and senior marketing positions at USAA from 2017 to 2021.
"Both men bring a wealth of expertise across multiple industries and disciplines, along with powerful strategic perspectives," said Priscilla Sims Brown, CEO of Amalgamated Bank, in the press release announcing the appointments.
Amalgamated Financial Corp. is a Delaware public benefit corporation and bank holding company with $8.3 billion in total assets as of March 31, 2025. Its subsidiary, Amalgamated Bank, operates branches across New York City, Washington D.C., and San Francisco, with a commercial office in Boston. The company maintains a healthy 1.79% dividend yield and has earned a "GREAT" financial health score from InvestingPro, which identifies the stock as currently undervalued. InvestingPro analysis reveals 6 additional key insights about AMAL’s performance and prospects, available with a subscription.
In other recent news, Amalgamated Bank reported its first-quarter 2025 earnings, surpassing expectations with earnings per share (EPS) of $0.88, exceeding the forecasted $0.79. However, the company’s revenue fell short of projections, registering $76.98 million against an anticipated $78.05 million. Despite the revenue miss, Amalgamated Bank maintains strong capital ratios and high liquidity, with a new $40 million share repurchase program authorized. Additionally, the bank continues to focus on clean energy projects and digital transformation. In other developments, Amalgamated Financial Corp. held its Annual Meeting of Stockholders, where 11 directors were elected, and a significant majority approved the executive compensation plan. The stockholders also ratified Crowe LLP as the independent auditor for the fiscal year ending December 31, 2025. These recent developments highlight Amalgamated’s ongoing efforts to maintain transparency and engage with its shareholders effectively.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.