Core Viewpoint - Ponce Financial Group, Inc. announced the approval of its Ponce Bank Westchester Avenue Branch as a Banking Development District, aimed at enhancing access to banking services in underserved areas of the Bronx [1][2]. Group 1: Banking Development District (BDD) Program - The New York State BDD Program, managed by the Department of Financial Services, promotes the establishment of bank branches in areas with a demonstrated need for banking services, relying on community support [2][3]. - Ponce Bank's Westchester Avenue branch received $35 million in total program deposits as part of its BDD designation and is seeking an additional $20 million from the New York City Banking Commission [3]. Group 2: Community Impact and Services - The BDD designation will enable Ponce Bank to expand access to affordable financial services, targeting local residents and small businesses with competitive financial products [4]. - Ponce Bank plans to provide financial education to foster financial empowerment and inclusion within the community [4]. Group 3: Company Overview - Ponce Financial Group, Inc. serves as the holding company for Ponce Bank, which is recognized as a Minority Depository Institution and a Community Development Financial Institution [5]. - Ponce Bank's operations primarily involve accepting deposits and investing in various types of loans, including mortgage loans and business loans, as well as securities [5].

Core Viewpoint - Ponce Financial Group, Inc. announced the approval of its Ponce Bank Westchester Avenue Branch as a Banking Development District (BDD), aimed at enhancing access to banking services in underserved areas of the Bronx [1][2]. Group 1: BDD Program Overview - New York State's BDD Program, managed by the Department of Financial Services, promotes the establishment of bank branches in areas with a demonstrated need for banking services, relying on community support [2]. - Approved BDD branches, like Ponce Bank's, gain access to subsidized and market rate deposits from New York State, with Ponce Bank receiving $35 million in total program deposits as of July 30, 2024 [3]. Group 2: Community Impact and Services - Ponce Bank plans to leverage the BDD designation to expand access to affordable financial services, targeting local residents and small businesses with competitive financial products [4]. - The bank will also focus on providing financial education to foster financial empowerment and inclusion within the community [4]. Group 3: Company Profile - Ponce Financial Group, Inc. serves as the holding company for Ponce Bank, which is recognized as a Minority Depository Institution and a Community Development Financial Institution [5]. - Ponce Bank's operations primarily involve accepting deposits and investing in various types of loans, including mortgage loans and business loans, as well as securities [5].

While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy. Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, ...

Ponce Financial (PDLB) came out with quarterly earnings of $0.14 per share, beating the Zacks Consensus Estimate of $0.01 per share. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1,300%. A quarter ago, it was expected that this holding company of Ponce Bank would post a loss of $0.03 per share when it actually produced earnings of $0.11, delivering a surprise of 466.67%. Over the last fo ...

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Financial Performance - Net income available to common stockholders for Q2 2024 was $3.1 million, or $0.14 per diluted share, compared to $2.4 million in Q1 2024 and a net loss of $0.1 million in Q2 2023 [1] - Net interest income for Q2 2024 decreased by $0.9 million (4.88%) to $17.9 million compared to Q1 2024, but increased by $1.6 million (9.96%) compared to Q2 2023 [6] - Non-interest income for Q2 2024 was $2.3 million, a 32.28% increase from Q1 2024 and a 51.34% increase from Q2 2023 [35] - Non-interest expense for Q2 2024 decreased by $0.8 million (4.74%) to $16.1 million compared to Q1 2024 and decreased by $0.9 million (5.51%) compared to Q2 2023 [36] Balance Sheet and Asset Quality - Total assets increased by $91.3 million (3.32%) to $2.84 billion as of June 30, 2024, driven by a $126.3 million increase in net loans receivable [53] - Net loans receivable grew by $126.3 million (6.66%) to $2.02 billion as of June 30, 2024 compared to December 31, 2023 [30] - Deposits increased by $98.5 million (6.53%) to $1.61 billion as of June 30, 2024 compared to December 31, 2023 [30] - Non-performing loans as a percentage of total gross loans stood at 0.89% as of June 30, 2024, down from 0.98% in June 2023 [49] Capital and Liquidity - Total capital to risk-weighted assets (Bank only) was 22.47% as of June 30, 2024, well above regulatory requirements [32] - Liquid assets plus borrowing capacity at FHLBNY stood at $679.9 million, approximately 1.7 times uninsured deposits of $401.7 million [48] - Book value per common share increased to $11.45 as of June 30, 2024, up $0.51 from the previous year [48] Loan Portfolio - Total loans, gross increased to $2.05 billion as of June 30, 2024, with construction and land loans making up 31.39% of the portfolio [23] - Mortgage loans accounted for 98.26% of total loans, with multifamily residential loans representing 26.66% of the portfolio [23] - Business loans increased to $30.2 million (1.48% of total loans) as of June 30, 2024, up from $19.8 million in December 2023 [23] Interest Rate Environment - Net interest margin was 2.62% for Q2 2024, down from 2.71% in Q1 2024 and 2.65% in Q2 2023 [6] - Net interest rate spread was 1.72% for Q2 2024, compared to 1.82% in Q1 2024 and 1.75% in Q2 2023 [48] - Average yield on interest-earning assets increased to 5.69% in Q2 2024 from 5.06% in Q2 2023 [70]

Group 1 - Ponce Financial (PDLB) is identified as a strong candidate for trend investors due to its recent performance and fundamental strength [2][10] - The stock has shown a price increase of 10% over the past four weeks, indicating that the upward trend is still intact [3] - PDLB currently holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [4][12] Group 2 - The Average Broker Recommendation for PDLB is also 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term price performance [5] - PDLB has gained 16.1% over the past 12 weeks, demonstrating continued investor interest and willingness to pay more for its potential upside [10] - The stock is trading at 86.5% of its 52-week High-Low Range, suggesting it may be on the verge of a breakout [11]

The Bank achieved this milestone during the first official reporting period of the program with $717.73 million in Qualified Lending and of which $445.08 million were also Deep Impact Lending. Under ECIP, Deep Impact Lending is given double credit, bringing the amount to $890.15 million, and total "qualified lending" as measured pursuant to the ECIP to $1.162 billion. The ECIP program was created to encourage low- and moderate-income community financial institutions to augment their efforts to support the s ...

The Bank achieved this milestone during the first official reporting period of the program with $717.73 million in Qualified Lending and of which $445.08 million were also Deep Impact Lending. Under ECIP, Deep Impact Lending is given double credit, bringing the amount to $890.15 million, and total "qualified lending" as measured pursuant to the ECIP to $1.162 billion. The ECIP program was created to encourage low- and moderate-income community financial institutions to augment their efforts to support the s ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41255 Ponce Financial Group, Inc. (Exact Name of Registrant as Specified in its Charter) FORM 10-Q Maryland 87-1893965 (S ...