Ponce Financial Group, Inc. Introduces New Executive Officer

Rhea-AI Summary

Ponce Financial Group, Inc. has appointed Mr. Luis Gonzalez, Jr. as Executive Vice President and Chief Operating Officer, effective April 1, 2022. With 15 years of experience at the Office of the Comptroller of the Currency, Mr. Gonzalez is expected to positively impact the management of Ponce Bank. CEO Carlos P. Naudon and Executive Chairman Steven A. Tsavaris praised his industry knowledge and community focus. Ponce Financial Group serves as the holding company for Ponce Bank, which is committed to minority and community development lending.

Positive

• Appointment of Luis Gonzalez as COO expected to enhance management.
• Gonzalez brings 15 years of relevant industry experience.
• Strong leadership recognized by CEO and Executive Chairman.

Negative

• None.

NEW YORK, April 01, 2022 (GLOBE NEWSWIRE) -- Ponce Financial Group, Inc. (the “Company”), the holding company for Ponce Bank, announced today that the Boards of Directors of the Company and Ponce Bank appointed Mr. Luis Gonzalez, Jr. as Executive Vice President and Chief Operating Officer effective April 1, 2022. Mr. Gonzalez joins the Company and Ponce Bank from the Office of the Comptroller of the Currency (“OCC”). He has 15 years of experience with the OCC, much of it in senior positions, including Acting Assistant Deputy Comptroller. Mr. Gonzalez is highly regarded in the banking community for his understanding of the industry and his pragmatism. In accepting the position and responsibility of Executive Vice President and Chief Operating Officer of the Company and Ponce Bank, Mr. Gonzalez stated, “I take the responsibility that comes with the position very seriously and commit myself to working closely with the Boards to make the Company and Ponce Bank the very best financial institutions they can be and in the best interests of our stakeholders – the stockholders, customers, employees and the communities which Ponce Bank serves.”

President and Chief Executive Officer’s Comments    

Carlos P. Naudon, President and Chief Executive Officer of the Company and Ponce Bank, stated that, “Luis Gonzalez will be an outstanding addition to our management team. He brings with him a deep knowledge base and level of experience in the banking industry. He also has a keen appreciation for the minority- and community-focused culture of the Company. Luis will have an immediate positive impact on the management of the Company and Ponce Bank.”

Executive Chairman’s Comments

Steven A. Tsavaris, Executive Chairman, remarked that, “Luis has an impressive record and will use his experience to enhance the Company’s businesses, all while understanding the vision of the Company and its place in the community.”

About Ponce Financial Group, Inc.

Ponce Financial Group, Inc., as the successor by merger with PDL Community Bancorp, is the holding company for Ponce Bank. Ponce Bank is a Minority Depository Institution, a Community Development Financial Institution, and a certified Small Business Administration lender. The Bank’s business primarily consists of taking deposits from the general public and to a lesser extent alternative funding sources and investing those deposits, together with funds generated from operations and borrowings, in mortgage loans, consisting of 1-4 family residences (investor-owned and owner-occupied), multifamily residences, nonresidential properties and construction and land, and, to a lesser extent, in business and consumer loans. The Bank also invests in securities, which consist of U.S. Government and federal agency securities and securities issued by government-sponsored or government-owned enterprises, as well as, mortgage-backed securities, corporate bonds and obligations, and Federal Home Loan Bank stock.

Forward Looking Statements

Certain statements herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “believes,” “will,” “would,” “expects,” “project,” “may,” “could,” “developments,” “strategic,” “launching,” “opportunities,” “anticipates,” “estimates,” “intends,” “plans,” “targets” and similar expressions. These statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, adverse conditions in the capital and debt markets and the impact of such conditions on business activities; changes in interest rates; competitive pressures from other financial institutions; the effects of general economic conditions on a national basis or in the local markets in which Ponce Bank operates, including changes that adversely affect borrowers’ ability to service and repay Ponce Bank’s loans; the anticipated impact of the COVID-19 pandemic and Ponce Bank’s attempts at mitigation; changes in the value of securities in the investment portfolio; changes in loan default and charge-off rates; fluctuations in real estate values; the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity, fraud and natural disasters; changes in government regulation; changes in accounting standards and practices; the risk that intangibles recorded in the financial statements will become impaired; demand for loans in Ponce Bank’s market area; Ponce Bank’s ability to attract and maintain deposits; risks related to the implementation of acquisitions, dispositions, and restructurings; the risk that Ponce Financial Group, Inc. may not be successful in the implementation of its business strategy; changes in assumptions used in making such forward-looking statements and the risk factors described in PDL Community Bancorp’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website, www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Ponce Financial Group, Inc. disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes, except as may be required by applicable law or regulation.

Contact:
Frank Perez
frank.perez@poncebank.net
718-931-9000

FAQ

Who is the new COO of Ponce Financial Group?

Luis Gonzalez, Jr. has been appointed as the new Executive Vice President and Chief Operating Officer effective April 1, 2022.

What experience does Luis Gonzalez bring to Ponce Financial Group?

Luis Gonzalez has 15 years of experience with the Office of the Comptroller of the Currency, including senior positions.

When did Luis Gonzalez start his position at Ponce Financial Group?

Luis Gonzalez started his role as COO on April 1, 2022.

What is the role of Ponce Financial Group?

Ponce Financial Group is the holding company for Ponce Bank, focusing on community and minority development lending.