Stock Track | Amalgamated Financial Plunges 8.2% in Pre-Market After Q1 Earnings Miss on Higher Credit Loss Provisions

Stock Track

Apr 23

Amalgamated Financial Corp's stock plummeted 8.20% in pre-market trading on Thursday, following the release of its first-quarter 2026 financial results.

The sharp decline came after the company reported adjusted earnings of $0.80 per share, which missed the analyst consensus estimate of $0.95 by 15.79%. The earnings shortfall was primarily driven by a significant increase in the provision for credit losses, which rose to $13.5 million. This included a $9.2 million reserve build tied to a single multifamily borrower relationship that was moved to nonaccrual status.

Despite reporting a 9.7% increase in revenue to $93.4 million and an improved net interest margin of 3.75%, the earnings miss and specific credit concerns appear to have weighed heavily on investor sentiment in the pre-market session.

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