INsider Amalgamated Bank

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volume 7 ••• Winter 2011

President’s Message

Amalgamated Bank Website

Welcome to another edition of our INsider Newsletter. In this issue, you will learn about the continued expansion of our branch network, how our new Business Credit group is offering new financing options to middle market businesses, and be introduced to the new head of our Commercial Real Estate Finance Division. In anticipation of the holiday season, we also explore security tips for online shoppers.

The lead article in this issue explains how—in line with Amalgamated’s goal of providing better service to hard working families in our market area�we continued to expand our retail banking network. For Example, recently we invited residents and businesses in Brooklyn’s Midwood section to the grand opening of our fourth branch in that borough, which is located on Avenue J and East 12th Street. Also, we have added a branch on White Plains Road in the Pelham Parkway section of the Bronx and at 69-73 Grand Avenue in Maspeth, Queens.

This issue’s “Q&A” interview is with Executive Vice President Robert Love, the director of Amalgamated Business Credit, a New York-based unit of the Bank’s Commercial Banking Division. Bob, who has 20 years of experience in asset-based lending and has worked in every facet of the business, discusses the types of services his group offers, the competitive edge Amalgamated delivers and the business sectors he is targeting. Recently, we selected Gardner B. Semet to head Amalgamated’s Commercial Real Estate Finance Division. Like Bob Love, Gardner brings to the Bank a broad range of expertise in relationship building, business development and lending.

Once again, I want to thank you for allowing Amalgamated Bank to serve your banking, financial and personal investing needs. If you have an idea or suggestion for how we can enhance our products and services, please email me at

Yours truly,

Derrick D. Cephas

Derrick D. Cephas
President and Chief Executive Officer