In May 2018, Amalgamated Bank closed the acquisition of New Resource Bancorp, expanding its geographic reach and earnings potential while doubling down on its identity as a progressive bank. Amalgamated was founded by one of the country’s oldest labor unions with the belief that affordable banking services should be accessible to all. New Resource was built to support a triple-bottom-line and was known for their sustainable operations and lending practices. Together, they created what some have called the largest values-based bank in the United States. Yet, Amalgamated didn’t stop there. In August, just three months after the acquisition was finalized, Amalgamated completed its initial public offering, and has since seen 20% gain in share value directly following its public debut on the Nasdaq.
In this webinar, we will illuminate the ways in which both the merger and the choice to go public have affected Amalgamated, its investors, and its customers, both old and newly acquired. We will also explore the implications of Amalgamated Bank’s growth on values-aligned banking, both in concept and in practice, answering the following questions: How do the customers perceive this values-based approach to banking? What are some foreseeable opportunities and constraints of this approach, going forward? What are the obstacles that alternative banks face, as compared to large multi-national competitors?
Speakers:
Mark Finser, Director, Amalgamated Bank and Former Chairman, New Resource Bank
Keith Mestrich, CEO, Amalgamated Bank
Marilyn Waite, Climate Finance Program Officer, William and Flora Hewlett Foundation (moderator)
11/06/18 1:00pm — 2:00pm
In May 2018, Amalgamated Bank closed the acquisition of New Resource Bancorp, expanding its geographic reach and earnings potential while doubling down on its identity as a progressive bank. Amalgamated was founded by one of the country’s oldest labor unions with the belief that affordable banking services should be accessible to all. New Resource was built to support a triple-bottom-line and was known for their sustainable operations and lending practices. Together, they created what some have called the largest values-based bank in the United States. Yet, Amalgamated didn’t stop there. In August, just three months after the acquisition was finalized, Amalgamated completed its initial public offering, and has since seen 20% gain in share value directly following its public debut on the Nasdaq.
In this webinar, we will illuminate the ways in which both the merger and the choice to go public have affected Amalgamated, its investors, and its customers, both old and newly acquired. We will also explore the implications of Amalgamated Bank’s growth on values-aligned banking, both in concept and in practice, answering the following questions: How do the customers perceive this values-based approach to banking? What are some foreseeable opportunities and constraints of this approach, going forward? What are the obstacles that alternative banks face, as compared to large multi-national competitors?
Speakers:
Mark Finser, Director, Amalgamated Bank and Former Chairman, New Resource Bank
Keith Mestrich, CEO, Amalgamated Bank
Marilyn Waite, Climate Finance Program Officer, William and Flora Hewlett Foundation (moderator)