Ponce Financial Group

Ponce Financial Group, Inc. operates as a holding company. It operates as a holding company for Ponce Bank and Mortgage World Bankers, Inc. Ponce Bank is a federally-chartered stock savings association and Mortgage World is a mortgage banking entity subject to the comprehensive regulation and examination of the New York State Department of Financial Services. The company is headquartered in New York, NY.

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Ponce Financial Group, Inc. is a savings and loan holding company, which engages in acquiring banking and financial services companies. It offers personal checking, savings, business management, and loans and mortgages. The company was founded in March 1960 and is headquartered in Bronx, NY.

NEW YORK, May 31, 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. Sergio Vaccaro as Chief Financial Officer effective June 1, 2022. Mr. Vaccaro joins the Company and Ponce Bank from HSBC where he was the CFO of Private Bank Americas. Current CFO Frank Perez remains with the Bank as EVP and taking on the newly expanded role of Chief Investor Relations Officer. Mr. Vaccaro has 27 years of accounting experience including 15 years in senior roles at Citigroup, HSBC and Private Bank Americas where he spent 5 years as CFO after leading Financial Planning and Analysis. A native Spanish speaker, Mr. Vaccaro is thrilled to be part of a bank that celebrates and elevates so many members of the Latin and immigrant diaspora throughout the New York Area and beyond. “It is a real privilege to join Ponce Financial Group and Ponce Bank; I believe in their mission, and I look forward to contributing to their continued growth and success.” Perez adds, "I'm proud to be a part of an organization founded right here where I was born and raised, and which is so committed to growing opportunities for all within this community. My new role as CIRO provides an exciting platform to further this mission and ensure that our good work is recognized and rewarded by neighbors and shareholders alike."

Ponce Financial Group, Inc. Introduces New Executive Officer

NEW YORK, May 09, 2022 (GLOBE NEWSWIRE) -- Ponce Financial Group, Inc., as the successor by merger with PDL Community Bancorp (the “Company”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”), reported a net loss of ($6.8 million), or ($0.31) per basic and diluted share, for the first quarter of 2022, compared to net income of $15.0 million, or $0.90 per basic and $0.89 per diluted share, for the prior quarter and net income of $2.5 million, or $0.15 per basic and diluted share, for the first quarter of 2021.

Ponce Financial Group, Inc., as the successor by merger with PDL Community Bancorp, Announces 2022 First Quarter Results

NEW YORK, March 23, 2022 (GLOBE NEWSWIRE) -- Ponce Financial Group, Inc. (the “Company”), the holding company for Ponce Bank, announced today that at the meetings of the Boards of Directors of the Company and Ponce Bank, held on March 17, 2022, the Boards increased the size of their respective boards from seven members to eight members and appointed Mr. James Perez to the Boards of Directors. Mr. Perez will be nominated by the Nomination Committee of the Company's Board to stand for election at the Annual Meeting of Stockholders, to be held on May 25, 2022, for a term ending at the 2023 Annual Meeting of Stockholders and until his successor shall have been elected and qualified. Mr. Perez is a highly regarded business person in the New York/New Jersey business community. Mr. Perez has extensive experience owning, developing and operating retail companies and as an investor in residential and commercial real estate. He has had a banking relationship with Ponce Bank for over 32 years. In accepting the responsibility of being a member of the Company's and Ponce Bank's Board's, Mr. Perez stated, “I am truly honored that the current, eminently qualified members of the Board have the confidence in me to work with them in the best interests of stockholders and the communities which Ponce Bank serves.”

Ponce Financial Group, Inc. Appoints New Member to the Board of Directors

NEW YORK, March 16, 2022 (GLOBE NEWSWIRE) -- Ponce Financial Group, Inc., as the successor by merger with PDL Community Bancorp, (the “Company”) (NASDAQ:PDLB), the holding company for Ponce Bank, led NASDAQ's market opening bell ringing ceremony on March 9, 2022. Chief Executive Officer Carlos P. Naudon and Executive Chairman of the Board of Directors Steven A. Tsavaris lead the NASDAQ bell ringing ceremony to mark Ponce Financial Group's new future as a fully publicly-traded company.

Ponce Financial Group, Inc. Celebrates the Initiation of Trading of its Shares with NASDAQ Market Opening Ceremony

NEW YORK, March 02, 2022 (GLOBE NEWSWIRE) -- Ponce Financial Group, Inc., as the successor by merger with PDL Community Bancorp, (the “Company”) (NASDAQ: PDLB), the financial holding company for Ponce Bank (the “Bank”), reported net income of $15.0 million, or $0.90 per basic share and $0.89 per diluted share, for the fourth quarter of 2021, compared to net income of $2.1 million, or $0.12 per basic and diluted share, for the prior quarter and net income of $1.6 million, or $0.10 per basic and diluted share, for the fourth quarter of 2020.

Ponce Financial Group, Inc., as the successor by merger with PDL Community Bancorp, Announces 2021 Fourth Quarter Results

BRONX, N.Y., Jan. 27, 2022 (GLOBE NEWSWIRE) -- Ponce Financial Group, Inc. (“Ponce Financial Group”) (NASDAQ: PDLB) and PDL Community Bancorp (“PDL”), announced that the conversion and reorganization of Ponce Bank Mutual Holding Company from the mutual to stock form of organization and related stock offering was consummated at the close of business today, January 27, 2022. As a result of the closing of the conversion and reorganization and stock offering Ponce Financial Group is now the holding company for Ponce Bank. Ponce Bank's former mutual holding companies, PDL and Ponce Bank Mutual Holding Company, have ceased to exist.

Ponce Financial Group, Inc. and PDL Community Bancorp Announce the Completion of the Conversion and Reorganization and Related Stock Offering

BRONX, N.Y., Jan. 07, 2022 (GLOBE NEWSWIRE) -- PDL Community Bancorp (“PDL”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”), Mortgage World Bankers, Inc. (“Mortgage World”) and Ponce Financial Group, Inc. (“Ponce Financial Group”), announced today (i) that at the special meeting of members convened on December 28, 2021 and concluded on January 7, 2022, the members of Ponce Bank Mutual Holding Company (“PBMHC”) approved (a) the plan of conversion and reorganization, pursuant to which Ponce Financial Group will be the new stock holding company for the Bank and Mortgage World upon completion of the proposed second-step conversion and reorganization of PBMHC and (b) the funding of the Ponce De Leon Foundation (the “Foundation”), and (ii) the final results of the subscription offering. The closing date for the conversion and reorganization, funding of the Foundation and concurrent subscription offering, has not yet been determined and is subject to the satisfaction of customary closing conditions.

PDL Community Bancorp and Ponce Financial Group, Inc. Announce Results of Ponce Bank Mutual Holding Company Member Vote and Final Subscription Offering Results

BRONX, New York, Dec. 28, 2021 (GLOBE NEWSWIRE) -- PDL Community Bancorp (“PDL”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”), Mortgage World Bankers, Inc. (“Mortgage World”) and Ponce Financial Group, Inc. (“Ponce Financial Group”), announced today (i) the results of the subscription offering, as detailed below, and (ii) that at the special meeting of stockholders held on December 28, 2021, the stockholders of PDL approved (a) the plan of conversion and reorganization, pursuant to which Ponce Financial Group will be the new stock holding company for the Bank and Mortgage World upon completion of the proposed second-step conversion and reorganization of Ponce Bank Mutual Holding Company (“PBMHC”) and (b) the funding of the Ponce De Leon Foundation (the “Foundation”). The closing date for the conversion and reorganization, funding of the Foundation and concurrent subscription offering, has not yet been determined and is subject to the satisfaction of customary closing conditions, including the approval of the members of PBMHC.

PDL Community Bancorp and Ponce Financial Group, Inc. Announce Subscription Offering Results and Results of PDL Stockholder Vote; Ponce Bank Mutual Holding Company Adjourns Special Meeting of Members in Order to Continue to Solicit Additional Member Votes

NEW YORK, Dec. 21, 2021 (GLOBE NEWSWIRE) -- On December 16, 2021, Ponce Bank (the “Bank”), a subsidiary of PDL Community Bancorp (the “Company”) (Nasdaq: PDLB), completed the sale of real property that the Bank owned, located at 37-60 82nd Street, Jackson Heights, Queens, New York (the “Real Property”). The sale price of the Real Property was $11.8 million. The net book value of the Real Property as of November 30, 2021 was $7.8 million.

PDL Community Bancorp Announces Completion of Sale and Leaseback of Real Property

BRONX, N.Y., Dec. 15, 2021 (GLOBE NEWSWIRE) -- PDL Community Bancorp (“PDL”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”), Mortgage World Bankers, Inc. (“Mortgage World”) and Ponce Financial Group, Inc. (“Ponce Financial Group”), the proposed stock holding company for the Bank and Mortgage World upon completion of the proposed second-step conversion and reorganization of Ponce Bank Mutual Holding Company (“PBMHC”), announced today that sufficient orders were received in the subscription offering and that no community offering or syndicated offering will be held. We are currently processing the orders received. Results of the subscription offering will be announced when processing of the orders has been completed and the independent appraisal has been finalized. Accordingly, no further information regarding the offering is available at this time. The closing of the conversion and reorganization remains subject to receipt of final regulatory approval, the approval of PBMHC's members, the approval of PDL's stockholders and other customary closing conditions.

PDL Community Bancorp and Ponce Financial Group, Inc. Announce Conclusion of Subscription Stock Offering

BRONX, New York, Dec. 15, 2021 (GLOBE NEWSWIRE) -- PDL Community Bancorp (“PDL” or the “Company”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”), Mortgage World Bankers, Inc. (“Mortgage World”) and Ponce Financial Group, Inc. (“Ponce Financial Group”), the proposed holding company for the Bank and Mortgage World upon completion of the proposed second-step conversion and reorganization of Ponce Bank Mutual Holding Company (“PBMHC”), announced today that it has received a letter, dated December 14, 2021, from the U. S. Department of the Treasury (“Treasury”) indicating that it is eligible to participate in the Emergency Capital Investment Program (“ECIP”). Subject to the completion of the conversion and reorganization of PBMHC and upon the complete execution of not yet available ECIP investment and program documentation, we may receive an ECIP investment of up to $185.6 million in exchange for the issuance by Ponce Financial Group of senior perpetual noncumulative preferred stock directly to Treasury on terms established by Treasury. Treasury indicated that it would provide further information concerning the ECIP process, including, but not limited to, the fulfillment of unspecified closing conditions, additional documentation and supplemental information.

PDL Community Bancorp Announces Update With Respect to Its Emergency Capital Investment Program Application

NEW YORK, Nov. 16, 2021 (GLOBE NEWSWIRE) -- PDL Community Bancorp (“PDL”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”) and Mortgage World Bankers, Inc. (“Mortgage World”), today announced that Ponce Financial Group, Inc., a Maryland corporation, the proposed new holding company for the Bank and Mortgage World (“Ponce Financial”), and Ponce Bank Mutual Holding Company have received approval from the Board of Governors of the Federal Reserve System to commence Ponce Financial's stock offering in connection with Ponce Bank Mutual Holding Company's proposed second-step conversion. The registration statement relating to the sale of common stock of Ponce Financial has also been declared effective by the Securities and Exchange Commission.

Ponce Financial Group, Inc. to Commence Stock Offering

NEW YORK, Nov. 02, 2021 (GLOBE NEWSWIRE) -- PDL Community Bancorp (the “Company”) (NASDAQ: PDLB), the financial holding company for Ponce Bank (the “Bank”) and Mortgage World Bankers, Inc. (“Mortgage World”), reported net income of $2.1 million, or $0.12 per basic and diluted share, for the third quarter of 2021, compared to net income of $5.9 million, or $0.35 per basic and diluted share, for the prior quarter and net income of $4.0 million, or $0.24 per basic and diluted share, for the third quarter of 2020.

PDL Community Bancorp Announces 2021 Third Quarter Results

NEW YORK, Sept. 01, 2021 (GLOBE NEWSWIRE) -- On August 30, 2021, PFS Service Corp. (“PFS”), a service company subsidiary of Ponce Bank (the “Bank”), a subsidiary of PDL Community Bancorp (the “Company”), entered into an agreement to sell real property that PFS owns, located at 2244 Westchester Avenue, Bronx, New York (the “Real Property”). The sale price of the Real Property is $16.1 million.

PDL Community Bancorp Announces an Agreement of Sale and Leaseback of Real Property

NEW YORK, Aug. 05, 2021 (GLOBE NEWSWIRE) -- PDL Community Bancorp (the “Company”) (NASDAQ: PDLB), the financial holding company for Ponce Bank (the “Bank”) and Mortgage World Bankers, Inc. (“Mortgage World”), reported net income of $5.9 million, or $0.35 per basic and diluted share, for the second quarter of 2021, compared to net income of $2.5 million, or $0.15 per basic and diluted share, for the prior quarter and a net loss of ($571,000), or ($0.03) per basic and diluted share, for the second quarter of 2020.

PDL Community Bancorp Announces 2021 Second Quarter Results

The stock price of PDL Community Bancorp (NASDAQ: PDLB) increased by over 15% pre-market. This is why it happened.

PDLB Stock Price: Over 15% Increase Pre-Market Explanation

BRONX, N.Y., May 25, 2021 (GLOBE NEWSWIRE) -- Ponce Bank Mutual Holding Company and PDL Community Bancorp (NASDAQ: PDLB), the holding company for Ponce Bank and Mortgage World Bankers, Inc., announced today that their Boards of Directors have unanimously adopted a Plan of Conversion and Reorganization pursuant to which Ponce Bank Mutual Holding Company and PDL Community Bancorp will reorganize into a new stock holding company and will conduct a second-step stock offering of new shares of common stock.

Ponce Bank Mutual Holding Company and PDL Community Bancorp Announce Adoption of a Plan of Conversion and Reorganization, Related Second-Step Stock Offering and Funding of the Ponce De Leon Foundation

NEW YORK, April 30, 2021 (GLOBE NEWSWIRE) -- PDL Community Bancorp (the “Company”) (NASDAQ: PDLB), the financial holding company for Ponce Bank (the “Bank”) and Mortgage World Bankers, Inc. (“Mortgage World”), reported net income of $2.5 million, or $0.15 per basic and diluted share, for the first quarter of 2021, compared to net income of $1.6 million, or $0.10 per basic and diluted share, for the prior quarter and a net loss of ($1.2 million), or ($0.07) per basic and diluted share, for the first quarter of 2020.

PDL Community Bancorp Announces 2021 First Quarter Results

NEW YORK, March 08, 2021 (GLOBE NEWSWIRE) -- PDL Community Bancorp (the “Company”) (NASDAQ: PDLB), the financial holding company for Ponce Bank (the “Bank”) and Mortgage World Bankers, Inc. (“Mortgage World”), reported net income of $1.6 million, or $0.10 per basic and diluted share, for the fourth quarter of 2020, compared to net income of $4.0 million, or $0.24 per basic and diluted share, for the prior quarter and net loss of ($7.5 million), or ($0.43) per basic and diluted share, for the fourth quarter of 2019.

PDL Community Bancorp Announces 2020 Fourth Quarter Results

NEW YORK, Dec. 31, 2020 (GLOBE NEWSWIRE) -- On December 22, 2020, PDL Community Bancorp (the “Company”), through PFS Service Corp. (“PFS”), the service company of its subsidiary Ponce Bank (the “Bank”), entered into a contract of sale and leaseback of the real property that PFS owns located at 3821 Bergenline Avenue, Union City, New Jersey (the “Real Property”). The purchase price for the Real Property is $2.4 million. PFS' carrying value of the Real Property as of December 22, 2020 was $512,000. It is anticipated that there will be additional expenses incurred during the closing of the transaction.

PDL Community Bancorp Announces that PFS Service Corp. entered into a Contract of Sale of Real Property

NEW YORK, Dec. 11, 2020 (GLOBE NEWSWIRE) -- PDL Community Bancorp (the “Company”) announced today that its Board of Directors has adopted a share repurchase program intended to enhance shareholder value effective December 14, 2020. Under the repurchase program, the Company may repurchase up to 852,302 shares of its common stock, or approximately 5% of the issued and outstanding shares.

PDL Community Bancorp Announces Share Repurchase Program

NEW YORK, Nov. 02, 2020 (GLOBE NEWSWIRE) -- PDL Community Bancorp (the “Company”) (NASDAQ: PDLB), the financial holding company for Ponce Bank (the “Bank”) and Mortgage World Bankers, Inc. (“Mortgage World”), reported net income of $4.0 million, or $0.24 per basic and diluted share, for the third quarter of 2020, compared to a net loss of ($571,000), or ($0.03) per basic and diluted share, for the prior quarter and net income of $709,000, or $0.04 per basic and diluted share, for the third quarter of 2019.

PDL Community Bancorp Announces 2020 Third Quarter Results

NEW YORK, July  31, 2020  (GLOBE NEWSWIRE) -- PDL Community Bancorp (the “Company”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”), reported a net loss of ($571,000), or ($0.03) per basic and diluted share, for the second quarter of 2020, compared to a net loss of ($1.2 million), or ($0.07) per basic and diluted share, for the prior quarter and net income of $950,000, or $0.05 per basic and diluted share, for the second quarter of 2019.

PDL Community Bancorp Announces 2020 Second Quarter Results

NEW YORK, July  31, 2020  (GLOBE NEWSWIRE) -- On July 27, 2020, Ponce Bank (the “Bank”), the subsidiary of PDL Community Bancorp (the “Company”), completed the sale of the real property that was owned by the Bank and was the former location of a branch banking office, located at 30 East 170th Street, Bronx, New York (the “Real Property”). The purchase price for the Real Property was $4.7 million. The Bank’s carrying value of the Real Property as of July 27, 2020 was $82,000. The Bank incurred expenses related to the sale of the Real Property of approximately $250,000. The Bank anticipates recording a gain on sale of approximately $4.4 million.

PDL Community Bancorp Announces Sale of Real Property Related to Former Location of Branch Office

NEW YORK, July  14, 2020  (GLOBE NEWSWIRE) -- PDL Community Bancorp (the “Company”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”), announced that on July 10, 2020 it had completed the acquisition of Mortgage World Bankers, Inc. (“MWB”). MWB is a mortgage banking company headquartered in Astoria, New York. Michael Lagoudis will continue to manage MWB’s operations as its President and CEO and became a Senior Vice President of the Company. Stephanos Lagoudis will continue to assist MWB in a consulting capacity. Steven A. Tsavaris, Executive Chairman of the Company, became the Executive Chairman of MWB and Carlos P. Naudon, President and CEO of the Company became a Director of MWB.

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