Ponce Financial Group, Inc. Reports Third Quarter 2025 Results

Core Viewpoint - Ponce Financial Group, Inc. reported strong financial results for the third quarter of 2025, highlighting significant year-on-year growth in net income and net interest income, alongside strategic developments aimed at enhancing operational efficiency and funding sources [4][6][9]. Financial Performance Highlights - For the three months ended September 30, 2025, net income available to common stockholders was $6.2 million, or $0.27 per diluted share, compared to $5.8 million, or $0.25 per diluted share for the previous quarter, and $2.2 million, or $0.10 per diluted share for the same quarter last year [6][9]. - Total net income for the third quarter of 2025 was $6.5 million, an increase from $6.1 million in the previous quarter and $2.4 million in the same quarter last year [9][11]. - Net interest income for the third quarter of 2025 was $25.2 million, reflecting a 3.37% increase from the prior quarter and a 32.72% increase from the same quarter last year [12][14]. Year-to-Date Performance - For the nine months ended September 30, 2025, net income available to common stockholders was $17.7 million, or $0.77 per diluted share, compared to $7.7 million, or $0.34 per diluted share for the same period in 2024 [6][11]. - Total net income for the nine months ended September 30, 2025 was $18.6 million, up from $8.0 million for the same period in 2024 [11]. - Net interest income for the nine months ended September 30, 2025 was $71.9 million, an increase of 28.93% compared to $55.8 million for the same period in 2024 [14][19]. Operational Efficiency - The net interest margin for the third quarter of 2025 was 3.30%, up from 3.27% in the prior quarter and 2.65% in the same quarter last year [15]. - Non-interest expenses for the third quarter of 2025 were $16.6 million, a decrease of 1.49% from the previous quarter and flat compared to the same quarter last year [20][22]. Asset and Liability Management - Total assets increased by $117.1 million, or 3.85%, to $3.16 billion as of September 30, 2025, primarily due to increases in net loans receivable and cash and cash equivalents [26]. - Total liabilities increased by $92.8 million, or 3.66%, to $2.63 billion as of September 30, 2025, largely driven by an increase in deposits [27]. - Total stockholders' equity rose by $24.3 million, or 4.81%, to $529.8 million as of September 30, 2025, attributed to net income and other comprehensive income [28]. Strategic Developments - The company opened a new branch in the Inwood neighborhood of Manhattan and modernized its charter, enhancing its operational capabilities and funding sources [4]. - The company is progressing towards commitments under the U.S. Treasury's Emergency Capital Investment Program, maintaining a strong level of loan originations [5].