Ponce Bank Exceeds ECIP Targets and Qualifies for 0.5% Preferred Stock Dividend Rate

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 ...