Ponce Financial Group announces that Ponce Bank has commenced operations as Ponce Bank, National Association

Core Points - Ponce Financial Group, Inc. has completed the conversion of its subsidiary, Ponce Bank, to a national bank as of October 10, 2025, and has also commenced operations as a bank holding company and a financial holding company [1][2] - The conversion aims to enhance the bank's powers, including eligibility for municipal deposits in New York, but no material changes in core business operations are expected [2] - Ponce Bank operates as a Minority Depository Institution and a Community Development Financial Institution, focusing on taking deposits and investing in various types of loans and securities [3] Company Overview - Ponce Financial Group, Inc. serves as the holding company for Ponce Bank, which primarily engages in taking deposits and investing in mortgage loans, business loans, and consumer loans [3] - The bank's investment portfolio includes U.S. Government securities, mortgage-backed securities, corporate bonds, and Federal Home Loan Bank stock [3]