Shares of Amalgamated Financial Corp (AMAL) plunged 5.11% in Thursday's intraday trading session, despite the company reporting second-quarter earnings that beat analyst expectations. The sharp decline suggests investors may be focusing on the company's revenue miss and potential concerns about future growth.

Amalgamated Financial reported adjusted earnings per share of $0.88 for the second quarter, slightly above the consensus estimate of $0.87. However, the company's revenue, which came in at $80.934 million, fell short of the expected $82.518 million. This revenue miss, albeit small, appears to have overshadowed the earnings beat in investors' minds.

While the bank showed some positive metrics, including solid deposit growth with political deposits jumping 13% and a strong net interest margin holding steady at 3.55%, the market's reaction indicates underlying concerns. The provision for credit losses increased due to a higher reserve for one syndicated commercial and industrial loan, which could be raising questions about the quality of the loan book. Additionally, the company's reliance on non-core income from solar tax equity investments to drive net income growth may be viewed as less sustainable by some investors.