Amalgamated Bank Announces Launch of Initial Public Offering of Common Stock

NEW YORK – Amalgamated Bank (“Amalgamated”) today announced the launch of its initial public offering of 6.7 million shares of Class A common stock. The initial public offering price is expected to be between $15.00 to $17.00 per share. The shares will be offered by certain selling stockholders. Amalgamated’s common stock is expected to trade on the Nasdaq Global Market under the ticker symbol “AMAL.”

The underwriters will have a 30-day option to purchase up to an additional 1.0 million shares of Class A common stock. Amalgamated Bank will not receive any proceeds from the offering.

Barclays, J.P. Morgan, and Keefe, Bruyette & Woods, a Stifel Company, will act as joint book-running managers. Piper Jaffray & Co., Raymond James & Associates, Inc., and Sandler O'Neill + Partners, L.P. are acting as co-managers.

The offering will be made only by means of an offering circular. A registration statement on Form 10 relating to the securities has been filed with the Federal Deposit Insurance Corporation but has not yet become effective. The securities also may not be sold, nor offers to sell be accepted, prior to the time the registration statement on Form 10 becomes effective. This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation or the New York State Department of Financial Services.

The preliminary offering circular relating to the offering and the registration statement on Form 10 are available at amalgamatedbankoffering.com. In addition, copies of the preliminary offering circular may also be obtained from: Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, e-mail: barclaysprospectus@broadridge.com, or by calling (888) 603-5847; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by calling 866-803-9204; or Keefe, Bruyette & Woods, Inc., Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019, or by calling (800) 966-1559.

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About Amalgamated Bank

Amalgamated Bank is a New York-based full-service commercial bank and a chartered trust company with a combined network of 14 branches in New York City, Washington D.C., and San Francisco, and a presence in Pasadena, CA and Boulder, CO. Amalgamated was formed in 1923 as Amalgamated Bank of New York by the Amalgamated Clothing Workers of America, one of the country’s oldest labor unions. Amalgamated provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Amalgamated is a proud member of the Global Alliance for Banking on Values and is a certified B Corporation®. As of March 31, 2018, total assets were $4.2 billion, total net loans were $2.9 billion, and total deposits were $3.3 billion. Additionally, as of March 31, 2018, the trust business held $29.4 billion in assets under custody and $11.6 billion in assets under management.

Media Contact:

PRinquiries@AmalgamatedBank.com

Investor Contact:
Solebury Trout
jlillis@soleburyir.com
203-428-3223