Two banks with extremely similar names are involved in a $98.1 million acquisition: Amalgamated Financial Corp. of New York City said it’s buying Amalgamated Bank of Chicago.
The New York company is not directly related to the Chicago company.
The similarities date back nearly a century, when Amalgamated Bank of Chicago (ABOC) was founded in 1922 by the Amalgamated Clothing Workers of America, which was the same union that founded Amalgamated Financial Corp. (Nasdaq: AMAL) and Amalgamated Bank…