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Ponce Financial Group, Inc. - PDLB STOCK NEWS

Welcome to our dedicated page for Ponce Financial Group news (Ticker: PDLB), a resource for investors and traders seeking the latest updates and insights on Ponce Financial Group stock.

Ponce Financial Group, Inc. (NASDAQ: PDLB) is a United States-based holding company, primarily engaged in the business of accepting deposits from the public and investing those funds into various loan products. Ponce Financial Group operates through its subsidiary, Ponce Bank, a Minority Depository Institution (MDI) and Community Development Financial Institution (CDFI), committed to serving underserved communities.

Its core business involves offering mortgage loans, including one-to-four-family residential, multi-family residential, non-residential property, and construction and land loans. Additionally, Ponce Financial Group provides business and consumer loans. They invest in securities issued by the U.S. Government and federal agencies, along with mortgage-backed securities.

Among the company’s suite of products and services are checking solutions, online and mobile banking, and merchant credit card services, enhancing customer convenience and financial management. Their recent achievements include a strategic collaboration with BNY Mellon under the U.S. Treasury Department’s Financial Agent Mentor-Protégé Program, aimed at bolstering Ponce Bank’s capacity to support local economic growth.

In the third quarter of 2023, Ponce Financial Group reported consolidated financial statements demonstrating robust performance. The company continues to invest in technology and workforce, emphasizing efficiency and community service. Ponce Bank's recent perpetual software license agreement with Grain further highlights its strategic moves to enhance loan servicing capabilities.

Ponce Financial Group’s commitment to community development is evident through its MDI and CDFI statuses, consistently investing in local businesses, housing, and services in low- and moderate-income areas. These efforts have positioned Ponce Bank as a leading institution in community financing and development lending intensity.

For detailed financial performance, including consolidated statements of financial condition and operations, shareholders and potential investors can access the latest quarterly reports on the company’s website or contact their investor relations.

Contact: Frank Perez, 718-931-9000

News

Ponce Financial Group, Inc. Reports Fourth Quarter 2023 Results

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Ponce Financial Group, Inc. announced its financial results for the fourth quarter of 2023, reporting a net income of $0.5 million, or $0.02 per diluted share, compared to a net loss of ($9.2) million for the same period in 2022. The company's net interest income for the year decreased by 2.01%, but non-interest income increased by 59.26% compared to the previous year. Non-interest expense decreased by 19.99% from 2022 to 2023. The company's cash and equivalents increased by 156.05%, while net loans receivable increased by 26.97%. However, total stockholders' equity decreased by 0.26% from 2022 to 2023. President and CEO, Carlos P. Naudon, highlighted the company's strong capital and liquidity position, while Executive Chairman, Steven A. Tsavaris, emphasized the prioritization of sound underwriting practices and balance sheet management.
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Ponce De Leon Foundation Announces Grant Awards

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The Ponce De Leon Foundation has awarded $622,000 to nonprofits, totaling over $2.3 million in grants since 2017. The Foundation's Board of Directors expressed pride in supporting impactful organizations and highlighted the growing need in communities. Various nonprofits received grants for programs ranging from youth development to housing and education initiatives.
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Ponce Bank was accepted into the Department of the Treasury, Bureau of Fiscal Service, Minority Bank Deposit Program

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Ponce Financial Group, Inc. (NASDAQ: PDLB) announces acceptance into the Department of the Treasury, Bureau of Fiscal Service, Minority Bank Deposit Program. The program offers exposure, training, and networking opportunities to accelerate growth and government financial services. President and CEO, Carlos P. Naudon, expresses excitement for the opportunity.
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Ponce Financial Group, Inc. Announces Participation in a Virtual Bank Conference

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Ponce Financial Group, Inc. (PDLB) to present at virtual bank conference hosted by Sycamore Analytics and Pendragon Capital Management. Sundie Seefried, CEO of SHF Holdings, Inc. and Mike Godby, Managing Director of Janney Montgomery Scott will also present. Register at www.VirtualBankConference.com.
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Ponce Financial Group, Inc. Reports Third Quarter 2023 Results

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Ponce Financial Group, Inc. (NASDAQ: PDLB) reported a net income of $2.6 million, or $0.12 per diluted share, for Q3 2023. This is compared to a net loss of ($0.1) million for Q2 2023 and a net loss of ($14.7) million for Q3 2022. Net interest income increased by $0.3 million from the prior quarter but decreased by $1.1 million from the same quarter last year. Cash and equivalents increased by $62.7 million, while securities decreased by $52.5 million. Net loans receivable increased by $294.5 million, and deposits increased by $148.7 million.
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Ponce Bank receives approval for an award of approximately $0.5 million as part of the CDFI Bank Enterprise Award Program and received the previously announced $3.7 million in cash that was granted as part of CDFI Equitable Recovery Program

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Ponce Financial Group, Inc. receives $451,025 grant from CDFI and $3.7 million grant from U.S. Treasury's ERP program. CEO emphasizes importance of CDFIs in supporting underserved communities.
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Ponce Financial Group, Inc. Announces Completion of Share Repurchase Program

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Ponce Financial Group, Inc. has completed the repurchase of 1,235,000 shares of its common stock, representing approximately 5% of the issued and outstanding shares. The repurchases were made under a pre-arranged stock repurchase plan in accordance with Rule 10b5-1. The repurchased shares will be held as treasury shares and may be used for restricted stock units and option grants.
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Ponce Financial Group, Inc. Reports Second Quarter 2023 Results

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Ponce Financial Group, Inc. announces that it was added to the Russell 3000® Index

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U.S. Department of Treasury Recertifies Ponce Bank as a Community Development Financial Institution

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FAQ

What is the current stock price of Ponce Financial Group (PDLB)?

The current stock price of Ponce Financial Group (PDLB) is $12.5 as of December 20, 2024.

What is the market cap of Ponce Financial Group (PDLB)?

The market cap of Ponce Financial Group (PDLB) is approximately 297.0M.

What is Ponce Financial Group, Inc. (PDLB)?

Ponce Financial Group, Inc. is a U.S.-based holding company primarily engaged in accepting deposits and investing in various loan products through its subsidiary, Ponce Bank.

What types of loans does Ponce Financial Group offer?

The company offers mortgage loans, including one-to-four-family residential, multi-family residential, non-residential property, construction and land loans, as well as business and consumer loans.

What recent collaborations has Ponce Financial Group engaged in?

Recently, Ponce Financial Group collaborated with BNY Mellon under the U.S. Treasury Department’s Financial Agent Mentor-Protégé Program to enhance its capacity to support local economic growth.

What services does Ponce Bank provide?

Ponce Bank offers a variety of services including checking solutions, online and mobile banking, and merchant credit card services.

How does Ponce Financial Group support community development?

As a Minority Depository Institution and Community Development Financial Institution, Ponce Bank invests in local businesses, housing, and services, particularly in low- and moderate-income areas.

How did Ponce Financial Group perform in the third quarter of 2023?

Ponce Financial Group reported strong financial performance with consolidated statements of financial condition and operations for the third quarter of 2023.

What is the significance of the software license agreement with Grain?

The perpetual software license agreement with Grain enhances Ponce Bank’s loan servicing capabilities, allowing it to manage remaining Grain loans effectively.

Where can I find Ponce Financial Group's latest financial reports?

Latest financial reports are available on the company's website or through contacting their investor relations department.

What is Ponce Bank's status in terms of community financing?

Ponce Bank is the largest FDIC-certified, Hispanic-led MDI east of the Mississippi, ranking highly in various community financing metrics.

How can I contact Ponce Financial Group for more information?

You can contact Frank Perez via email at frank.perez@poncebank.net or by calling 718-931-9000.

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Ponce Financial Group, Inc.

Nasdaq:PDLB

PDLB Rankings

#3537 Ranked by Market Cap
N/A Ranked by Dividends

PDLB Stock Data

297.02M
19.21M
19.38%
45.86%
0.42%
Banks - Regional
Savings Institution, Federally Chartered
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United States of America
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