Amalgamated Financial Corp. announced two new board members, Steven SaLoutos and Tony Wells, enhancing leadership expertise.
Quiver AI Summary
Amalgamated Financial Corp. announced the appointment of Steven SaLoutos and Tony Wells to its Board of Directors, including their roles on the board of Amalgamated Bank. The board chair, Lynne Fox, expressed excitement over the new members, highlighting their expertise in integrating profitability with social impact. Mr. SaLoutos has extensive banking experience, notably as CFO of ProSight Financial Association, and has a strong community involvement background. Mr. Wells brings nearly 40 years of experience across various regulated industries and is currently a Venture Partner at Arizona’s largest venture capital fund. Both members are expected to offer valuable insights as Amalgamated continues its growth trajectory. Amalgamated Financial is a public benefit corporation involved in commercial banking, with a network of branches in key U.S. cities and a commitment to positive social impact.
Potential Positives
- The addition of experienced board members Steven SaLoutos and Tony Wells enhances the expertise and strategic perspectives within Amalgamated Financial Corp.'s leadership.
- Both new board members have notable backgrounds in highly regulated industries, which can help guide the company in navigating compliance and operational challenges.
- Their diverse industry experience aligns with Amalgamated's mission of balancing profitability with social impact, potentially attracting likeminded investors and customers.
Potential Negatives
- While the addition of new board members may bring expertise, it could also signal an existing gap in leadership that needed to be filled, potentially raising concerns about previous board performance.
- The press release does not address any specific challenges or strategic issues the company may be facing, which could lead to speculation or concern from investors regarding the company's transparency.
- The company's financial performance metrics were presented but lack context or year-over-year comparisons, which may leave investors questioning the current financial health and growth trajectory of the organization.
FAQ
Who are the new board members of Amalgamated Financial Corp?
The new board members are Steven SaLoutos and Tony Wells, recognized for their extensive industry expertise.
What experience does Steven SaLoutos bring to Amalgamated?
Steven SaLoutos has a 38-year career in banking, previously serving as EVP at U.S. Bank and is currently CFO at ProSight Financial.
What roles does Tony Wells hold besides being on Amalgamated's board?
Tony Wells is a Venture Partner at AZ-VC and serves on the boards of Nexstar Media Group, Yelp, and TripleLift.
What is the mission of Amalgamated Financial Corp?
Amalgamated Financial Corp. aims to combine profitability with social impact, supporting community development through its financial services.
How many branches does Amalgamated Bank operate?
Amalgamated Bank has five branches located in New York City, Washington D.C., and San Francisco.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$AMAL Insider Trading Activity
$AMAL insiders have traded $AMAL stock on the open market 13 times in the past 6 months. Of those trades, 0 have been purchases and 13 have been sales.
Here’s a breakdown of recent trading of $AMAL stock by insiders over the last 6 months:
- UNITED WORKERS has made 0 purchases and 3 sales selling 64,310 shares for an estimated $2,197,503.
- STATES REGIONAL JOINT BOARD, WORKERS UNITED WESTERN has made 0 purchases and 3 sales selling 64,310 shares for an estimated $2,197,503.
- EDGAR JR ROMNEY (Chief Strategy & Admin Officer) sold 9,782 shares for an estimated $353,521
- SAM D. BROWN (SEVP, Chief Banking Officer) sold 8,269 shares for an estimated $276,241
- MARYANN BRUCE sold 4,403 shares for an estimated $148,701
- TYRONE GRAHAM (EVP, Chief HR Officer) has made 0 purchases and 3 sales selling 4,926 shares for an estimated $145,598.
- SEAN SEARBY (EVP Chief Info. & Ops. Officer) sold 3,000 shares for an estimated $97,470
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$AMAL Hedge Fund Activity
We have seen 85 institutional investors add shares of $AMAL stock to their portfolio, and 116 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MACQUARIE GROUP LTD added 928,788 shares (+inf%) to their portfolio in Q1 2025, for an estimated $26,702,655
- ALLIANCEBERNSTEIN L.P. added 725,695 shares (+1738.5%) to their portfolio in Q1 2025, for an estimated $20,863,731
- BLACKROCK, INC. removed 325,146 shares (-9.3%) from their portfolio in Q1 2025, for an estimated $9,347,947
- JPMORGAN CHASE & CO removed 301,189 shares (-55.2%) from their portfolio in Q1 2025, for an estimated $8,659,183
- ADAGE CAPITAL PARTNERS GP, L.L.C. added 192,577 shares (+35.1%) to their portfolio in Q1 2025, for an estimated $5,536,588
- LSV ASSET MANAGEMENT added 180,113 shares (+165.5%) to their portfolio in Q1 2025, for an estimated $5,178,248
- PRUDENTIAL FINANCIAL INC removed 156,445 shares (-82.8%) from their portfolio in Q1 2025, for an estimated $4,497,793
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (“Amalgamated” or the “Company”) (Nasdaq: AMAL), today announced the addition of two new board members to their Board of Directors, Steven SaLoutos and Tony Wells. They will also serve on the Board of Directors of Amalgamated Bank.
“We are thrilled to welcome Steven and Tony to our Board of Directors,” said Lynne Fox, Chair of the Board. “Our board has always included industry experts who know that profitability and social impact are not mutually exclusive. Steven and Tony have demonstrated this throughout their respective careers, and we know that they both will make valuable contributions to our board and future growth.”
Mr. SaLoutos brings extensive expertise in the banking industry and a strong background in directorship. He is presently the Chief Financial Officer of ProSight Financial Association, following a distinguished 38-year career at U.S. Bank, N.A. His most recent position there was Executive Vice President and Midwest Regional Executive in Consumer and Business Banking.
An active community supporter, Mr. SaLoutos is a member and former Chairperson of Wisconsin Women Business Initiative Corporation (WWBIC), a Community Development Financial Institution (CDFI) focused on startup and early-stage business lending for and education of women and minority-owned businesses throughout Wisconsin. Mr. SaLoutos holds a BBA degree from the University of Wisconsin-Whitewater, and an MBA, from the University of Wisconsin-Madison.
Mr. Wells brings nearly four decades of executive leadership across highly regulated industries including banking, payment services, telecommunications, and energy. He currently serves as a Venture Partner at AZ-VC, Arizona’s largest venture capital fund, and sits on the boards of publicly traded Nexstar Media Group (NASDAQ: NXST), Yelp (NYSE: YELP) and private ad-tech company TripleLift.
Previously, Mr. Wells served as Chief Media Officer at Verizon from 2021 to 2023, and as a senior marketing executive at USAA from 2017 to 2021, culminating in his role as Chief Brand Officer. While at USAA, he also chaired both the USAA Foundation and the USAA Education Foundation, advancing initiatives in financial literacy, diversity, and customer trust. A former Marine Corps infantry officer, Mr. Wells holds a B.S. from the United States Naval Academy and a Management Certificate from Johns Hopkins University Carey School of Business.
“Both men bring a wealth of expertise across multiple industries and disciplines, along with powerful strategic perspectives. Their insights will be invaluable as we continue to accelerate our growth and expand our impact.” said Priscilla Sims Brown, CEO of Amalgamated Bank
“The passion and purpose they've demonstrated align with those of Amalgamated, and we are excited to welcome them as valued members of our board.”
About Amalgamated Financial Corp:
Amalgamated Financial Corp. is a Delaware public benefit corporation and a bank holding company engaged in commercial banking and financial services through its wholly owned subsidiary, Amalgamated Bank. Amalgamated Bank is a New York-based full-service commercial bank and a chartered trust company with a combined network of five branches across New York City, Washington D.C., and San Francisco, and a commercial office in Boston. Amalgamated Bank 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 Bank provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Amalgamated Bank is a proud member of the Global Alliance for Banking on Values and is a certified B Corporation
®
. As of March 31, 2025, our total assets were $8.3 billion, total net loans were $4.6 billion, and total deposits were $7.4 billion. Additionally, as of March 31, 2025, our trust business held $35.7 billion in assets under custody and $14.2 billion in assets under management.
Investor Contact:
Jamie Lillis
Solebury Strategic Communications
[email protected]
800-895-4172
