Initial purchase: 9/13/2018
Cost basis $18.82
Current Portfolio Status: Hold
Dividend Reinvestment: N
No Dividends paid (anticipate initiating 4Q 2018)
Shares held on account at Motif
Amalgamated Bank is a commercial bank and a chartered trust company that provides banking services. The Company offers solutions in the areas of personal banking, small business, commercial banking and institutional investing. Its product line includes residential mortgage loans, commercial and industrial loans, commercial real estate loans, multifamily mortgages, and a variety of commercial and consumer deposit products, including non-interest bearing accounts, interest-bearing demand products, savings accounts, money market accounts and certificates of deposit. It also offer online banking and bill payment services, online cash management, safe deposit box rentals, debit card and automated teller machine (ATM) card services. Its corporate divisions include Commercial Banking, Trust and Investment Management and Consumer Banking. Amalgamated Bank was founded in 1923 and IPO’d 8 Aug 2018.
Reason for holding: provides affordable and accessible banking to its customers, advocates for workers’ rights, and promotes high standards of environmental, social and corporate governance practices. (40.9% owned by Workers United, an affiliate of the Service Employees International Union), clients include the DNC