Ponce Financial Group, Inc. Reports Second Quarter 2025 Results
Ponce Financial Group (NASDAQ: PDLB) reported strong Q2 2025 results with net income available to common stockholders of $5.8 million, or $0.25 per diluted share, compared to $3.1 million ($0.14/share) in Q2 2024.
Key highlights include: Net interest income increased 36.43% YoY to $24.4 million, with net interest margin improving to 3.27% from 2.62% last year. Total assets grew 3.75% to $3.15 billion, driven by a 7.53% increase in net loans to $2.46 billion. Deposits increased 8.35% to $2.04 billion.
The bank maintained strong capital ratios with total capital to risk-weighted assets at 22.65%. Asset quality improved with non-performing loans decreasing to 0.76% of total assets, while maintaining a 101.01% allowance coverage ratio.
Ponce Financial Group (NASDAQ: PDLB) ha riportato risultati solidi nel secondo trimestre del 2025, con un utile netto disponibile per gli azionisti ordinari di 5,8 milioni di dollari, pari a 0,25 dollari per azione diluita, rispetto a 3,1 milioni di dollari (0,14 dollari per azione) nel secondo trimestre del 2024.
I punti salienti includono: un reddito netto da interessi aumentato del 36,43% su base annua, raggiungendo 24,4 milioni di dollari, con un margine di interesse netto migliorato al 3,27% rispetto al 2,62% dell’anno precedente. Gli attivi totali sono cresciuti del 3,75%, arrivando a 3,15 miliardi di dollari, trainati da un aumento del 7,53% dei prestiti netti, che hanno raggiunto 2,46 miliardi di dollari. I depositi sono aumentati dell’8,35%, arrivando a 2,04 miliardi di dollari.
La banca ha mantenuto solidi rapporti patrimoniali, con il capitale totale rispetto agli attivi ponderati per il rischio al 22,65%. La qualità degli attivi è migliorata, con i prestiti non performanti scesi allo 0,76% del totale degli attivi, mantenendo un rapporto di copertura delle perdite pari al 101,01%.
Ponce Financial Group (NASDAQ: PDLB) reportó sólidos resultados en el segundo trimestre de 2025, con un ingreso neto disponible para los accionistas comunes de 5,8 millones de dólares, o 0,25 dólares por acción diluida, en comparación con 3,1 millones de dólares (0,14 dólares por acción) en el segundo trimestre de 2024.
Los aspectos destacados incluyen: un ingreso neto por intereses que aumentó un 36,43% interanual hasta 24,4 millones de dólares, con un margen neto de intereses que mejoró a 3,27% desde el 2,62% del año pasado. Los activos totales crecieron un 3,75% hasta 3,15 mil millones de dólares, impulsados por un aumento del 7,53% en los préstamos netos hasta 2,46 mil millones de dólares. Los depósitos aumentaron un 8,35% hasta 2,04 mil millones de dólares.
El banco mantuvo sólidos índices de capital con un capital total sobre activos ponderados por riesgo del 22,65%. La calidad de los activos mejoró, con préstamos morosos que disminuyeron al 0,76% del total de activos, manteniendo una tasa de cobertura de provisiones del 101,01%.
Ponce Financial Group (NASDAQ: PDLB)는 2025년 2분기에 강력한 실적을 보고했으며, 보통주주에게 귀속되는 순이익은 580만 달러, 희석 주당순이익은 0.25달러로 2024년 2분기의 310만 달러(주당 0.14달러) 대비 증가했습니다.
주요 내용은 다음과 같습니다: 순이자수익이 전년 대비 36.43% 증가한 2440만 달러를 기록했으며, 순이자마진은 지난해 2.62%에서 3.27%로 개선되었습니다. 총자산은 3.75% 증가하여 31억 5천만 달러에 달했으며, 순대출금은 7.53% 증가한 24억 6천만 달러를 기록했습니다. 예금은 8.35% 증가하여 20억 4천만 달러가 되었습니다.
은행은 총자본 대비 위험가중자산 비율이 22.65%로 견고한 자본비율을 유지했습니다. 자산 건전성도 개선되어 부실대출 비율이 총자산의 0.76%로 감소했으며, 충당금 커버리지 비율은 101.01%를 유지했습니다.
Ponce Financial Group (NASDAQ : PDLB) a publié de solides résultats pour le deuxième trimestre 2025, avec un bénéfice net attribuable aux actionnaires ordinaires de 5,8 millions de dollars, soit 0,25 dollar par action diluée, contre 3,1 millions de dollars (0,14 dollar par action) au deuxième trimestre 2024.
Les points clés incluent : un revenu net d’intérêts en hausse de 36,43 % d’une année sur l’autre, atteignant 24,4 millions de dollars, avec une marge nette d’intérêt améliorée à 3,27 % contre 2,62 % l’année précédente. Le total des actifs a augmenté de 3,75 % pour atteindre 3,15 milliards de dollars, soutenu par une hausse de 7,53 % des prêts nets à 2,46 milliards de dollars. Les dépôts ont progressé de 8,35 % pour atteindre 2,04 milliards de dollars.
La banque a maintenu des ratios de capital solides, avec un capital total par rapport aux actifs pondérés en fonction des risques à 22,65 %. La qualité des actifs s’est améliorée avec une diminution des prêts non performants à 0,76 % du total des actifs, tout en maintenant un ratio de couverture des provisions de 101,01 %.
Ponce Financial Group (NASDAQ: PDLB) meldete starke Ergebnisse für das zweite Quartal 2025 mit einem auf Stammaktionäre entfallenden Nettogewinn von 5,8 Millionen US-Dollar bzw. 0,25 US-Dollar pro verwässerter Aktie, verglichen mit 3,1 Millionen US-Dollar (0,14 US-Dollar/Aktie) im zweiten Quartal 2024.
Wichtige Highlights umfassen: Das Zinsergebnis stieg im Jahresvergleich um 36,43 % auf 24,4 Millionen US-Dollar, wobei die Nettozinsmarge von 2,62 % im Vorjahr auf 3,27 % verbessert wurde. Die Gesamtaktiva wuchsen um 3,75 % auf 3,15 Milliarden US-Dollar, angetrieben durch einen Anstieg der Nettokredite um 7,53 % auf 2,46 Milliarden US-Dollar. Die Einlagen stiegen um 8,35 % auf 2,04 Milliarden US-Dollar.
Die Bank hielt starke Kapitalquoten mit einer Gesamtkapitalquote gegenüber risikogewichteten Aktiva von 22,65 %. Die Asset-Qualität verbesserte sich, da notleidende Kredite auf 0,76 % der Gesamtaktiva sanken, während die Deckungsquote der Rückstellungen bei 101,01 % blieb.
- Net income doubled YoY to $0.50 per diluted share for H1 2025
- Net interest margin improved significantly to 3.27% from 2.62% YoY
- Strong loan growth of 7.53% to $2.46 billion
- Healthy deposit growth of 8.35% to $2.04 billion
- Non-performing loans decreased QoQ
- Efficiency ratio improved to 63.69% from 80.09% YoY
- Qualified for lowest possible preferred stock dividend rate of 0.50%
- Net charge-offs of 0.04% of average outstanding loans
- Non-interest income decreased 8.77% YoY to $2.1 million
- Reduction in number of offices from 19 to 17 QoQ
- Decrease in full-time equivalent employees from 227 to 206 YoY
Insights
Ponce Financial Group reports strong Q2 2025 with doubled EPS year-over-year, improved margins, and solid loan growth despite reduced non-performing loans.
Ponce Financial Group delivered notable improvements in its Q2 2025 results, with net income available to common stockholders reaching $5.8 million ($0.25 per diluted share), a substantial 87% increase from $3.1 million ($0.14 per diluted share) in Q2 2024. For the six-month period, earnings doubled to $0.50 per share compared to $0.25 in the same period last year.
The bank's performance was primarily driven by expanding net interest margin, which reached 3.27% in Q2 2025, up 29 basis points from the previous quarter and 65 basis points year-over-year. This margin expansion reflects the bank's strategic focus on high-yielding construction loans while successfully managing funding costs.
Loan growth has been robust at 7.53% since year-end 2024, with net loans receivable increasing to $2.46 billion. This growth has been funded by an 8.35% increase in deposits, which reached $2.04 billion. The bank reduced its borrowings by $60 million during this period, indicating improved liquidity management.
Credit quality metrics showed mixed signals. While non-performing loans decreased quarter-over-quarter from 0.88% to 0.76% of total assets, the bank recorded a $1.6 million provision for credit losses this quarter compared to a $0.3 million benefit in Q1 2025 and a $0.6 million benefit in Q2 2024. The allowance for credit losses now covers 101.01% of non-performing loans, up from 84.15% in the previous quarter.
Notably, the efficiency ratio improved significantly to 63.69% from 80.09% a year earlier, reflecting better cost control as non-interest expenses remained essentially flat year-over-year despite the bank's growth. This disciplined expense management has contributed materially to the bottom line.
Management highlighted their progress under the U.S. Treasury's Emergency Capital Investment Program, maintaining the lowest possible preferred stock dividend rate of 0.50% and achieving 80% deep impact lending over the past 12 quarters – well above the 60% threshold required for preferred stock repurchase eligibility.
The bank's capital position remains strong with total capital to risk-weighted assets at 22.65% for the holding company and 21.22% at the bank level, providing substantial cushion above regulatory requirements despite slight declines from the previous year.
NEW YORK, July 25, 2025 (GLOBE NEWSWIRE) -- Ponce Financial Group, Inc., (the “Company”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”), today announced results for the second quarter of 2025.
Second Quarter 2025 Highlights (Compared to Prior Periods):
- Net income available to common stockholders was
$5.8 million , or$0.25 per diluted share for the three months ended June 30, 2025, as compared to net income available to common stockholders of$5.7 million , or$0.25 per diluted share for the three months ended March 31, 2025, and net income available to common stockholders of$3.1 million , or$0.14 per diluted share for the three months ended June 30, 2024. Total net income for the three months ended June 30, 2025, was$6.1 million . The Company paid dividends of$0.3 million on its preferred stock during the three months ended June 30, 2025. - Included in the
$5.8 million of net income available to common stockholders for the second quarter of 2025 results is$45.9 million in interest and dividend income and$2.1 million in non-interest income, offset by$21.4 million in interest expense,$16.9 million in non-interest expense,$1.9 million in provision for income taxes,$1.6 million in provision for credit losses and$0.3 million in dividends on preferred shares. - Net interest income of
$24.4 million for the second quarter of 2025 increased$2.2 million , or10.01% , from the prior quarter and increased$6.5 million , or36.43% , from the same quarter last year. - Net interest margin was
3.27% for the second quarter of 2025, versus2.98% for the prior quarter and2.62% for the same quarter last year.
Six Months 2025 Highlights (Compared to 2024):
- Net income available to common stockholders was
$11.5 million , or$0.50 per diluted share for the six months ended June 30, 2025, as compared to net income available to common stockholders of$5.5 million , or$0.25 per diluted share for the six months ended June 30, 2024. Total net income for the six months ended June 30, 2025, was$12.1 million . The Company paid dividends of$0.6 million on its preferred stock during the six months ended June 30, 2025. - Net interest income for the six months ended June 30, 2025, was
$46.6 million , an increase of$9.9 million , or26.96% , compared to$36.7 million for the six months ended June 30, 2024. - Non-interest income for the six months ended June 30, 2025, was
$4.4 million , an increase of$0.5 million , or12.01% , from$4.0 million for the six months ended June 30, 2024. - Non-interest expense for the six months ended June 30, 2025, was
$33.8 million , an increase of$0.3 million , or0.99% , compared to$33.4 million for the six months ended June 30, 2024. - Cash and equivalents were
$126.6 million as of June 30, 2025, a decrease of$13.2 million , or9.44% , from$139.8 million as of December 31, 2024. - Securities totaled
$433.4 million as of June 30, 2025, a decrease of$39.5 million , or8.35% , from$472.9 million as of December 31, 2024, primarily due to regular principal payments, the call of two available-for-sale securities in the total amount of$6.0 million and the maturity of one held-for-sale security in the amount of$10.0 million . - Net loans receivable were
$2.46 billion as of June 30, 2025, an increase of$172.1 million , or7.53% , from$2.29 billion as of December 31, 2024. - Deposits were
$2.04 billion as of June 30, 2025, an increase of$157.3 million , or8.35% , from$1.88 billion as of December 31, 2024.
President and Chief Executive Officer’s Comments
Carlos P. Naudon, Ponce Financial Group, Inc.’s President and CEO, stated “We continue to execute on our strategy of prudent growth and incremental profitability. Our diluted earnings per share of
Executive Chairman’s Comment
Steven A. Tsavaris, Ponce Financial Group’s Executive Chairman, added “We continue to make progress towards our commitments under the U.S. Treasury’s Emergency Capital Investment Program. As we previously communicated, given our level of originations from April 2024 to March 2025, we have ensured another year of the lowest possible preferred stock dividend of
The table below indicates the Key Metrics at or for the three months ended:
| At or for the Three Months Ended | |||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | |||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | |||||||||||||||
| Performance Ratios: | |||||||||||||||||||
| Return on average assets (1) | 0.79 | % | 0.77 | % | 0.38 | % | 0.33 | % | 0.45 | % | |||||||||
| Return on common equity (1) | 7.88 | % | 7.97 | % | 3.76 | % | 3.06 | % | 4.60 | % | |||||||||
| Net interest margin (1) (2) | 3.27 | % | 2.98 | % | 2.80 | % | 2.65 | % | 2.62 | % | |||||||||
| Non-interest expense to average assets (1) | 2.18 | % | 2.19 | % | 2.25 | % | 2.19 | % | 2.28 | % | |||||||||
| Efficiency ratio (3) | 63.69 | % | 68.70 | % | 75.63 | % | 80.87 | % | 80.09 | % | |||||||||
| Capital Ratios: | |||||||||||||||||||
| Total capital to risk-weighted assets (Ponce Financial Group) | 22.65 | % | 22.84 | % | 22.98 | % | 22.87 | % | 23.86 | % | |||||||||
| Common equity Tier 1 capital to risk-weighted assets (Ponce Financial Group) | 12.49 | % | 12.51 | % | 12.44 | % | 12.28 | % | 12.71 | % | |||||||||
| Tier 1 capital to total assets (Ponce Financial Group) | 17.13 | % | 16.84 | % | 17.70 | % | 17.81 | % | 17.88 | % | |||||||||
| Total capital to risk-weighted assets (Bank only) | 21.22 | % | 21.38 | % | 21.47 | % | 21.61 | % | 22.47 | % | |||||||||
| Common equity Tier 1 capital to risk-weighted assets (Bank only) | 20.15 | % | 20.35 | % | 20.40 | % | 20.45 | % | 21.24 | % | |||||||||
| Tier 1 capital to total assets (Bank only) | 15.99 | % | 15.61 | % | 15.81 | % | 16.19 | % | 16.70 | % | |||||||||
| Asset Quality Ratios: | |||||||||||||||||||
| Allowance for credit losses on loans as a percentage of total loans | 0.97 | % | 0.96 | % | 0.97 | % | 1.09 | % | 1.18 | % | |||||||||
| Allowance for credit losses on loans as a percentage of nonperforming loans | 101.01 | % | 84.15 | % | 82.29 | % | 139.52 | % | 130.28 | % | |||||||||
| Net (charge-offs) recoveries to average outstanding loans (1) | (0.04 | %) | (0.04 | %) | (0.45 | %) | (0.17 | %) | (0.10 | %) | |||||||||
| Non-performing loans as a percentage of total assets | 0.76 | % | 0.88 | % | 0.90 | % | 0.57 | % | 0.65 | % | |||||||||
| Other: | |||||||||||||||||||
| Number of offices | 17 | 18 | 19 | 19 | 18 | ||||||||||||||
| Number of full-time equivalent employees | 206 | 211 | 218 | 228 | 227 | ||||||||||||||
(1) Annualized where appropriate.
(2) Net interest margin represents net interest income divided by average total interest-earning assets.
(3) Efficiency ratio represents noninterest expense divided by the sum of net interest income and noninterest income.
Summary of Results of Operations
Net income for the three months ended June 30, 2025, was
The
The
Net income for the six months ended June 30, 2025, was
Net Interest Income and Net Interest Margin
Net interest income for the three months ended June 30, 2025, increased
The
Net interest income for the six months ended June 30, 2025, increased
Net interest margin was
Net interest margin was
Non-interest Income
Non-interest income for the three months ended June 30, 2025, was
The
The
Non-interest income for the six months ended June 30, 2025, was
Non-interest Expense
Non-interest expense for the three months ended June 30, 2025, remained flat at
The
Non-interest expense for the six months ended June 30, 2025, was
Credit Quality:
Total non-performing assets and accruing modifications to borrowers experiencing financial difficulty were
During the three months ended June 30, 2025, a credit loss provision of
During the six months ended June 30, 2025, a credit loss provision of
Balance Sheet Summary
Total assets increased
Total liabilities increased
Total stockholders’ equity increased
About Ponce Financial Group, Inc.
Ponce Financial Group, Inc. is the holding company for Ponce Bank. Ponce Bank is a Minority Depository Institution, a Community Development Financial Institution, and a certified Small Business Administration lender. Ponce Bank’s business primarily consists of taking deposits from the general public and to a lesser extent alternative funding sources and investing those funds, together with funds generated from operations and borrowings, in mortgage loans, consisting of 1-4 family residences (investor-owned and owner-occupied), multifamily residences, nonresidential properties, construction and land, and, to a lesser extent, in business and consumer loans. Ponce Bank also invests in securities, which consist of U.S. Government and federal agency securities and securities issued by government-sponsored or government-owned enterprises, as well as, mortgage-backed securities, corporate bonds and obligations, and Federal Home Loan Bank stock.
Forward-Looking Statements
Certain statements herein constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “believes,” “will,” “would,” “expects,” “project,” “may,” “could,” “developments,” “strategic,” “launching,” “opportunities,” “anticipates,” “estimates,” “intends,” “plans,” “targets” and similar expressions. These statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, adverse conditions in the capital and debt markets and the impact of such conditions on business activities; changes in interest rates; competitive pressures from other financial institutions; the effects of general economic conditions on a national basis or in the local markets in which Ponce Bank operates, including changes that adversely affect borrowers’ ability to service and repay Ponce Bank’s loans; changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs, and their related impacts on the economy; changes in the value of securities in the investment portfolio; changes in loan default and charge-off rates; fluctuations in real estate values; the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity, fraud and natural disasters; changes in government regulation; changes in accounting standards and practices; the risk that intangibles recorded in the financial statements will become impaired; demand for loans in Ponce Bank’s market area; Ponce Bank’s ability to attract and maintain deposits; risks related to the implementation of acquisitions, dispositions, and restructurings; the risk that Ponce Financial Group, Inc. may not be successful in the implementation of its business strategy; changes in assumptions used in making such forward-looking statements and the risk factors described in Ponce Financial Group, Inc.’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission (the “SEC”), which are available at the SEC’s website, www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Ponce Financial Group, Inc. disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes, except as may be required by applicable law or regulation.
Ponce Financial Group, Inc. and Subsidiaries
Consolidated Statements of Financial Condition
(Dollars in thousands, except for share data)
| As of | ||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||
| ASSETS | ||||||||||||||||||||
| Cash and due from banks: | ||||||||||||||||||||
| Cash | $ | 35,767 | $ | 32,113 | $ | 35,478 | $ | 32,061 | $ | 23,128 | ||||||||||
| Interest-bearing deposits | 90,872 | 97,780 | 104,361 | 123,751 | 80,038 | |||||||||||||||
| Total cash and cash equivalents | 126,639 | 129,893 | 139,839 | 155,812 | 103,166 | |||||||||||||||
| Available-for-sale securities, at fair value | 96,562 | 103,570 | 104,970 | 111,005 | 113,125 | |||||||||||||||
| Held-to-maturity securities, at amortized cost | 336,879 | 358,024 | 367,938 | 403,736 | 442,113 | |||||||||||||||
| Placement with banks | 249 | 249 | 249 | 249 | 249 | |||||||||||||||
| Mortgage loans held for sale, at fair value | 5,703 | 8,567 | 10,736 | 9,566 | 37,764 | |||||||||||||||
| Loans receivable, net | 2,458,712 | 2,370,931 | 2,286,599 | 2,180,331 | 2,022,173 | |||||||||||||||
| Accrued interest receivable | 19,126 | 19,008 | 17,771 | 16,890 | 17,441 | |||||||||||||||
| Premises and equipment, net | 16,067 | 16,417 | 16,794 | 16,843 | 16,976 | |||||||||||||||
| Right of use assets | 28,806 | 29,496 | 29,093 | 29,785 | 30,349 | |||||||||||||||
| Federal Home Loan Bank of New York stock (FHLBNY), at cost | 26,620 | 25,807 | 29,182 | 28,515 | 23,972 | |||||||||||||||
| Deferred tax assets | 12,143 | 11,629 | 12,074 | 11,845 | 13,172 | |||||||||||||||
| Other assets | 26,363 | 16,245 | 24,693 | 51,392 | 21,507 | |||||||||||||||
| Total assets | $ | 3,153,869 | $ | 3,089,836 | $ | 3,039,938 | $ | 3,015,969 | $ | 2,842,007 | ||||||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||
| Deposits | $ | 2,042,209 | $ | 2,004,947 | $ | 1,884,864 | $ | 1,870,323 | $ | 1,606,097 | ||||||||||
| Operating lease liabilities | 30,501 | 31,126 | 30,696 | 31,343 | 31,861 | |||||||||||||||
| Accrued interest payable | 4,161 | 4,628 | 3,712 | 2,918 | 6,820 | |||||||||||||||
| Advance payments by borrowers for taxes and insurance | 10,942 | 12,901 | 10,349 | 13,733 | 10,838 | |||||||||||||||
| Borrowings | 536,100 | 521,100 | 596,100 | 580,421 | 680,421 | |||||||||||||||
| Other liabilities | 8,868 | 1,248 | 8,717 | 12,642 | 8,313 | |||||||||||||||
| Total liabilities | 2,632,781 | 2,575,950 | 2,534,438 | 2,511,380 | 2,344,350 | |||||||||||||||
| Commitments and contingencies | ||||||||||||||||||||
| Stockholders' Equity: | ||||||||||||||||||||
| Preferred stock, | 225,000 | 225,000 | 225,000 | 225,000 | 225,000 | |||||||||||||||
| Common stock, | 249 | 249 | 249 | 249 | 249 | |||||||||||||||
| Treasury stock, at cost | (7,404 | ) | (7,641 | ) | (7,707 | ) | (9,445 | ) | (9,519 | ) | ||||||||||
| Additional paid-in-capital | 208,275 | 207,888 | 207,319 | 208,478 | 207,934 | |||||||||||||||
| Retained earnings | 119,250 | 113,432 | 107,754 | 105,103 | 102,951 | |||||||||||||||
| Accumulated other comprehensive loss | (13,047 | ) | (13,515 | ) | (15,297 | ) | (12,686 | ) | (16,557 | ) | ||||||||||
| Unearned compensation ─ ESOP | (11,235 | ) | (11,527 | ) | (11,818 | ) | (12,110 | ) | (12,401 | ) | ||||||||||
| Total stockholders' equity | 521,088 | 513,886 | 505,500 | 504,589 | 497,657 | |||||||||||||||
| Total liabilities and stockholders' equity | $ | 3,153,869 | $ | 3,089,836 | $ | 3,039,938 | $ | 3,015,969 | $ | 2,842,007 | ||||||||||
Ponce Financial Group, Inc. and Subsidiaries
Consolidated Statements of Operations
(Dollars in thousands, except per share data)
| Three Months Ended | ||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||
| Interest and dividend income: | ||||||||||||||||||||
| Interest on loans receivable | $ | 40,291 | $ | 37,136 | $ | 35,622 | $ | 32,945 | $ | 31,281 | ||||||||||
| Interest on deposits due from banks | 807 | 1,668 | 1,783 | 2,430 | 1,542 | |||||||||||||||
| Interest and dividend on securities and FHLBNY stock | 4,762 | 5,193 | 5,481 | 5,918 | 5,969 | |||||||||||||||
| Total interest and dividend income | 45,860 | 43,997 | 42,886 | 41,293 | 38,792 | |||||||||||||||
| Interest expense: | ||||||||||||||||||||
| Interest on certificates of deposit | 7,382 | 7,754 | 8,104 | 6,926 | 6,358 | |||||||||||||||
| Interest on other deposits | 9,058 | 8,554 | 8,476 | 8,519 | 7,389 | |||||||||||||||
| Interest on borrowings | 4,994 | 5,486 | 5,576 | 6,825 | 7,141 | |||||||||||||||
| Total interest expense | 21,434 | 21,794 | 22,156 | 22,270 | 20,888 | |||||||||||||||
| Net interest income | 24,426 | 22,203 | 20,730 | 19,023 | 17,904 | |||||||||||||||
| Provision (benefit) for credit losses (1) | 1,626 | (285 | ) | 897 | 537 | (867 | ) | |||||||||||||
| Net interest income after provision (benefit) for credit losses | 22,800 | 22,488 | 19,833 | 18,486 | 18,771 | |||||||||||||||
| Non-interest income: | ||||||||||||||||||||
| Service charges and fees | 511 | 525 | 500 | 508 | 492 | |||||||||||||||
| Brokerage commissions | — | 4 | 44 | — | 9 | |||||||||||||||
| Late and prepayment charges | 530 | 697 | 318 | 77 | 426 | |||||||||||||||
| Income on sale of mortgage loans | 169 | 148 | 254 | 218 | 274 | |||||||||||||||
| Income on sale of SBA loans | — | 404 | 148 | — | — | |||||||||||||||
| Grant income | 428 | — | — | — | — | |||||||||||||||
| Other | 422 | 603 | 833 | 348 | 1,057 | |||||||||||||||
| Total non-interest income | 2,060 | 2,381 | 2,097 | 1,151 | 2,258 | |||||||||||||||
| Non-interest expense: | ||||||||||||||||||||
| Compensation and benefits | 7,627 | 7,780 | 7,668 | 7,674 | 7,724 | |||||||||||||||
| Occupancy and equipment | 3,907 | 3,913 | 3,863 | 3,786 | 3,564 | |||||||||||||||
| Data processing expenses | 1,188 | 1,152 | 1,143 | 1,099 | 1,013 | |||||||||||||||
| Direct loan expenses | 241 | 388 | 617 | 573 | 633 | |||||||||||||||
| Insurance and surety bond premiums | 297 | 315 | 293 | 292 | 263 | |||||||||||||||
| Office supplies, telephone and postage | 174 | 170 | 294 | 222 | 233 | |||||||||||||||
| Professional fees | 1,367 | 1,364 | 1,703 | 1,351 | 1,369 | |||||||||||||||
| Microloans recoveries | — | — | (29 | ) | (54 | ) | (65 | ) | ||||||||||||
| Marketing and promotional expenses | 266 | 83 | 289 | 180 | 145 | |||||||||||||||
| Federal deposit insurance and regulatory assessment (2) | 546 | 461 | 418 | 392 | 428 | |||||||||||||||
| Other operating expenses (2) | 1,256 | 1,262 | 1,206 | 1,051 | 1,333 | |||||||||||||||
| Total non-interest expense (1) | 16,869 | 16,888 | 17,465 | 16,566 | 16,640 | |||||||||||||||
| Income before income taxes | 7,991 | 7,981 | 4,465 | 3,071 | 4,389 | |||||||||||||||
| Provision for income taxes | 1,891 | 2,022 | 1,532 | 638 | 1,197 | |||||||||||||||
| Net income | $ | 6,100 | $ | 5,959 | $ | 2,933 | $ | 2,433 | $ | 3,192 | ||||||||||
| Dividends on preferred shares | 282 | 281 | 282 | 281 | 75 | |||||||||||||||
| Net income available to common stockholders | $ | 5,818 | $ | 5,678 | $ | 2,651 | $ | 2,152 | $ | 3,117 | ||||||||||
| Earnings per common share: | ||||||||||||||||||||
| Basic | $ | 0.26 | $ | 0.25 | $ | 0.12 | $ | 0.10 | $ | 0.14 | ||||||||||
| Diluted | $ | 0.25 | $ | 0.25 | $ | 0.12 | $ | 0.10 | $ | 0.14 | ||||||||||
| Weighted average common shares outstanding: | ||||||||||||||||||||
| Basic | 22,716,615 | 22,662,916 | 22,528,160 | 22,446,009 | 22,409,803 | |||||||||||||||
| Diluted | 22,947,769 | 22,876,740 | 22,807,644 | 22,612,028 | 22,419,309 | |||||||||||||||
(1) For the three months ended December 31, 2024, September 30, 2024, and June 30, 2024, benefit for contingencies in the amounts of
(2) For the three months ended September 30, 2024, and June 30, 2024,
Ponce Financial Group, Inc. and Subsidiaries
Consolidated Statements of Operations
(Dollars in thousands, except per share data)
| For the Six Months Ended June 30, | ||||||||||||||||
| 2025 | 2024 | Variance $ | Variance % | |||||||||||||
| Interest and dividend income: | ||||||||||||||||
| Interest on loans receivable | $ | 77,427 | $ | 61,945 | $ | 15,482 | 24.99 | % | ||||||||
| Interest on deposits due from banks | 2,475 | 4,453 | (1,978 | ) | (44.42 | %) | ||||||||||
| Interest and dividend on securities and FHLBNY stock | 9,955 | 12,060 | (2,105 | ) | (17.45 | %) | ||||||||||
| Total interest and dividend income | 89,857 | 78,458 | 11,399 | 14.53 | % | |||||||||||
| Interest expense: | ||||||||||||||||
| Interest on certificates of deposit | 15,136 | 12,738 | 2,398 | 18.83 | % | |||||||||||
| Interest on other deposits | 17,612 | 13,929 | 3,683 | 26.44 | % | |||||||||||
| Interest on borrowings | 10,480 | 15,064 | (4,584 | ) | (30.43 | %) | ||||||||||
| Total interest expense | 43,228 | 41,731 | 1,497 | 3.59 | % | |||||||||||
| Net interest income | 46,629 | 36,727 | 9,902 | 26.96 | % | |||||||||||
| Provision (benefit) for credit losses (1) | 1,341 | (883 | ) | 2,224 | (251.87 | %) | ||||||||||
| Net interest income after provision (benefit) for credit losses | 45,288 | 37,610 | 7,678 | 20.41 | % | |||||||||||
| Non-interest income: | ||||||||||||||||
| Service charges and fees | 1,036 | 965 | 71 | 7.36 | % | |||||||||||
| Brokerage commissions | 4 | 17 | (13 | ) | (76.47 | %) | ||||||||||
| Late and prepayment charges | 1,227 | 785 | 442 | 56.31 | % | |||||||||||
| Income on sale of mortgage loans | 317 | 576 | (259 | ) | (44.97 | %) | ||||||||||
| Income on sale of SBA loans | 404 | — | 404 | — | % | |||||||||||
| Grant income | 428 | — | 428 | — | % | |||||||||||
| Other | 1,025 | 1,622 | (597 | ) | (36.81 | %) | ||||||||||
| Total non-interest income | 4,441 | 3,965 | 476 | 12.01 | % | |||||||||||
| Non-interest expense: | ||||||||||||||||
| Compensation and benefits | 15,407 | 15,568 | (161 | ) | (1.03 | %) | ||||||||||
| Occupancy and equipment | 7,820 | 7,231 | 589 | 8.15 | % | |||||||||||
| Data processing expenses | 2,340 | 2,140 | 200 | 9.35 | % | |||||||||||
| Direct loan expenses | 629 | 1,365 | (736 | ) | (53.92 | %) | ||||||||||
| Insurance and surety bond premiums | 612 | 516 | 96 | 18.60 | % | |||||||||||
| Office supplies, telephone and postage | 344 | 482 | (138 | ) | (28.63 | %) | ||||||||||
| Professional fees | 2,731 | 3,092 | (361 | ) | (11.68 | %) | ||||||||||
| Microloans recoveries | — | (118 | ) | 118 | (100.00 | %) | ||||||||||
| Marketing and promotional expenses | 349 | 245 | 104 | 42.45 | % | |||||||||||
| Federal deposit insurance and regulatory assessments (2) | 1,007 | 817 | 190 | 23.26 | % | |||||||||||
| Other operating expenses (2) | 2,518 | 2,088 | 430 | 20.59 | % | |||||||||||
| Total non-interest expense (1) | 33,757 | 33,426 | 331 | 0.99 | % | |||||||||||
| Income before income taxes | 15,972 | 8,149 | 7,823 | 96.00 | % | |||||||||||
| Provision for income taxes | 3,913 | 2,543 | 1,370 | 53.87 | % | |||||||||||
| Net income | $ | 12,059 | $ | 5,606 | $ | 6,453 | 115.11 | % | ||||||||
| Dividends on preferred shares | 563 | 75 | 488 | 650.67 | % | |||||||||||
| Net income available to common stockholders | $ | 11,496 | $ | 5,531 | $ | 5,965 | 107.85 | % | ||||||||
| Earnings per common share: | ||||||||||||||||
| Basic | $ | 0.51 | $ | 0.25 | $ | 0.26 | 104.00 | % | ||||||||
| Diluted | $ | 0.50 | $ | 0.25 | $ | 0.25 | 100.00 | % | ||||||||
| Weighted average common shares outstanding: | ||||||||||||||||
| Basic | 22,689,914 | 22,381,647 | 308,267 | 1.38 | % | |||||||||||
| Diluted | 22,920,841 | 22,393,018 | 527,823 | 2.36 | % | |||||||||||
(1) For the six months ended June 30, 2024, benefit for contingencies in the amount of
(2) For the six months ended June 30, 2024,
Ponce Financial Group, Inc. and Subsidiaries
Loans Receivable excluding Mortgage Loans Held for Sale
| As of | ||||||||||||||||||||||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||||||||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||||||||||||||||||||||
| Amount | Percent | Amount | Percent | Amount | Percent | Amount | Percent | Amount | Percent | |||||||||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||
| Mortgage loans: | ||||||||||||||||||||||||||||||||||||||||
| 1-4 family residential | ||||||||||||||||||||||||||||||||||||||||
| Investor Owned | $ | 317,488 | 12.78 | % | $ | 325,866 | 13.62 | % | $ | 330,053 | 14.30 | % | $ | 332,380 | 15.09 | % | $ | 337,292 | 16.49 | % | ||||||||||||||||||||
| Owner-Occupied | 134,862 | 5.43 | % | 137,676 | 5.75 | % | 142,363 | 6.17 | % | 145,065 | 6.59 | % | 147,485 | 7.21 | % | |||||||||||||||||||||||||
| Multifamily residential | 693,670 | 27.96 | % | 675,541 | 28.24 | % | 670,159 | 29.04 | % | 678,029 | 30.78 | % | 545,323 | 26.66 | % | |||||||||||||||||||||||||
| Nonresidential properties | 404,512 | 16.30 | % | 390,681 | 16.33 | % | 389,898 | 16.89 | % | 383,277 | 17.40 | % | 337,583 | 16.51 | % | |||||||||||||||||||||||||
| Construction and land | 883,462 | 35.59 | % | 815,425 | 34.08 | % | 733,660 | 31.79 | % | 631,461 | 28.67 | % | 641,879 | 31.39 | % | |||||||||||||||||||||||||
| Total mortgage loans | 2,433,994 | 98.06 | % | 2,345,189 | 98.02 | % | 2,266,133 | 98.19 | % | 2,170,212 | 98.53 | % | 2,009,562 | 98.26 | % | |||||||||||||||||||||||||
| Non-mortgage loans: | ||||||||||||||||||||||||||||||||||||||||
| Business loans | 47,372 | 1.91 | % | 46,329 | 1.94 | % | 40,849 | 1.77 | % | 28,499 | 1.29 | % | 30,222 | 1.48 | % | |||||||||||||||||||||||||
| Consumer loans (1) | 840 | 0.03 | % | 997 | 0.04 | % | 1,038 | 0.04 | % | 4,021 | 0.18 | % | 5,305 | 0.26 | % | |||||||||||||||||||||||||
| Total non-mortgage loans | 48,212 | 1.94 | % | 47,326 | 1.98 | % | 41,887 | 1.81 | % | 32,520 | 1.47 | % | 35,527 | 1.74 | % | |||||||||||||||||||||||||
| Total loans, gross | 2,482,206 | 100.00 | % | 2,392,515 | 100.00 | % | 2,308,020 | 100.00 | % | 2,202,732 | 100.00 | % | 2,045,089 | 100.00 | % | |||||||||||||||||||||||||
| Net deferred loan origination costs | 606 | 1,390 | 1,081 | 1,565 | 1,145 | |||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans | (24,100 | ) | (22,974 | ) | (22,502 | ) | (23,966 | ) | (24,061 | ) | ||||||||||||||||||||||||||||||
| Loans, net | $ | 2,458,712 | $ | 2,370,931 | $ | 2,286,599 | $ | 2,180,331 | $ | 2,022,173 | ||||||||||||||||||||||||||||||
(1) As of September 30, 2024, and June 30, 2024, consumer loans include
Ponce Financial Group, Inc. and Subsidiaries
Allowance for Credit Losses on Loans
| For the Three Months Ended | ||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| Allowance for credit losses on loans at beginning of the period | $ | 22,974 | $ | 22,502 | $ | 23,966 | $ | 24,061 | $ | 24,664 | ||||||||||
| Provision (benefit) for credit losses on loans | 1,348 | 731 | 1,090 | 801 | (120 | ) | ||||||||||||||
| Charge-offs: | ||||||||||||||||||||
| Mortgage loans: | ||||||||||||||||||||
| 1-4 family residences | ||||||||||||||||||||
| Investor owned | — | (38 | ) | — | — | — | ||||||||||||||
| Owner occupied | — | — | — | — | — | |||||||||||||||
| Multifamily residences | — | — | — | — | — | |||||||||||||||
| Nonresidential properties | — | — | — | (7 | ) | — | ||||||||||||||
| Construction and land | — | — | — | — | — | |||||||||||||||
| Non-mortgage loans: | ||||||||||||||||||||
| Business | (222 | ) | (222 | ) | (232 | ) | (450 | ) | — | |||||||||||
| Consumer | — | (3 | ) | (2,465 | ) | (634 | ) | (747 | ) | |||||||||||
| Total charge-offs | (222 | ) | (263 | ) | (2,697 | ) | (1,091 | ) | (747 | ) | ||||||||||
| Recoveries: | ||||||||||||||||||||
| Non-mortgage loans: | ||||||||||||||||||||
| Business | — | 4 | — | 1 | 7 | |||||||||||||||
| Consumer | — | — | 143 | 194 | 257 | |||||||||||||||
| Total recoveries | — | 4 | 143 | 195 | 264 | |||||||||||||||
| Net (charge-offs) recoveries | (222 | ) | (259 | ) | (2,554 | ) | (896 | ) | (483 | ) | ||||||||||
| Allowance for credit losses on loans at end of the period | $ | 24,100 | $ | 22,974 | $ | 22,502 | $ | 23,966 | $ | 24,061 | ||||||||||
Ponce Financial Group, Inc. and Subsidiaries
Deposits
| As of | ||||||||||||||||||||||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||||||||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||||||||||||||||||||||
| Amount | Percent | Amount | Percent | Amount | Percent | Amount | Percent | Amount | Percent | |||||||||||||||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||||||||||||||||||
| Demand | $ | 197,671 | 9.68 | % | $ | 212,139 | 10.58 | % | $ | 169,178 | 8.98 | % | $ | 182,737 | 9.78 | % | $ | 178,125 | 11.09 | % | ||||||||||||||||||||
| Interest-bearing deposits: | ||||||||||||||||||||||||||||||||||||||||
| NOW/IOLA accounts | 63,626 | 3.12 | % | 74,430 | 3.71 | % | 62,616 | 3.32 | % | 71,445 | 3.82 | % | 81,178 | 5.05 | % | |||||||||||||||||||||||||
| Money market accounts | 790,939 | 38.73 | % | 692,753 | 34.55 | % | 636,219 | 33.75 | % | 660,168 | 35.30 | % | 502,255 | 31.27 | % | |||||||||||||||||||||||||
| Reciprocal deposits | 136,693 | 6.69 | % | 141,838 | 7.07 | % | 130,677 | 6.93 | % | 94,145 | 5.03 | % | 109,945 | 6.85 | % | |||||||||||||||||||||||||
| Savings accounts | 102,759 | 5.03 | % | 106,122 | 5.29 | % | 105,870 | 5.62 | % | 108,941 | 5.82 | % | 109,694 | 6.83 | % | |||||||||||||||||||||||||
| Total NOW, money market, reciprocal and savings accounts | 1,094,017 | 53.57 | % | 1,015,143 | 50.62 | % | 935,382 | 49.62 | % | 934,699 | 49.97 | % | 803,072 | 50.00 | % | |||||||||||||||||||||||||
| Certificates of deposit of | 220,671 | 10.81 | % | 219,721 | 10.96 | % | 204,293 | 10.84 | % | 210,262 | 11.25 | % | 189,683 | 11.82 | % | |||||||||||||||||||||||||
| Brokered certificates of deposit (2) | 69,531 | 3.40 | % | 84,531 | 4.22 | % | 94,531 | 5.02 | % | 94,531 | 5.05 | % | 94,614 | 5.89 | % | |||||||||||||||||||||||||
| Listing service deposits (2) | 6,140 | 0.30 | % | 6,140 | 0.31 | % | 7,376 | 0.39 | % | 7,376 | 0.39 | % | 9,361 | 0.58 | % | |||||||||||||||||||||||||
| All other certificates of deposit less than | 454,179 | 22.24 | % | 467,273 | 23.31 | % | 474,104 | 25.15 | % | 440,718 | 23.56 | % | 331,242 | 20.62 | % | |||||||||||||||||||||||||
| Total certificates of deposit | 750,521 | 36.75 | % | 777,665 | 38.80 | % | 780,304 | 41.40 | % | 752,887 | 40.25 | % | 624,900 | 38.91 | % | |||||||||||||||||||||||||
| Total interest-bearing deposits | 1,844,538 | 90.32 | % | 1,792,808 | 89.42 | % | 1,715,686 | 91.02 | % | 1,687,586 | 90.22 | % | 1,427,972 | 88.91 | % | |||||||||||||||||||||||||
| Total deposits | $ | 2,042,209 | 100.00 | % | $ | 2,004,947 | 100.00 | % | $ | 1,884,864 | 100.00 | % | $ | 1,870,323 | 100.00 | % | $ | 1,606,097 | 100.00 | % | ||||||||||||||||||||
(1) As of September 30, 2024, and June 30, 2024,
(2) There were no individual listing service deposits amounting to
Ponce Financial Group, Inc. and Subsidiaries
Nonperforming Assets
| As of Three Months Ended | ||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||
| Non-accrual loans: | ||||||||||||||||||||
| Mortgage loans: | ||||||||||||||||||||
| 1-4 family residential | ||||||||||||||||||||
| Investor owned | $ | 1,859 | $ | 1,052 | $ | 436 | $ | 436 | $ | 436 | ||||||||||
| Owner occupied | — | 1,423 | 1,423 | 1,423 | 1,423 | |||||||||||||||
| Multifamily residential | 11,703 | 9,788 | 10,271 | 4,685 | 5,754 | |||||||||||||||
| Nonresidential properties | 405 | — | — | 824 | 828 | |||||||||||||||
| Construction and land | 8,907 | 14,159 | 14,158 | 8,907 | 8,907 | |||||||||||||||
| Non-mortgage loans: | ||||||||||||||||||||
| Business | 276 | 170 | 343 | 180 | 396 | |||||||||||||||
| Consumer | — | — | — | — | — | |||||||||||||||
| Total non-accrual loans (not including non-accruing modifications to borrowers experiencing financial difficulty) (1) | $ | 23,150 | $ | 26,592 | $ | 26,631 | $ | 16,455 | $ | 17,744 | ||||||||||
| Non-accruing modifications to borrowers experiencing financial difficulty (1): | ||||||||||||||||||||
| Mortgage loans: | ||||||||||||||||||||
| 1-4 family residential | ||||||||||||||||||||
| Investor owned | $ | 284 | $ | 279 | $ | 279 | $ | 278 | $ | 277 | ||||||||||
| Owner occupied | 424 | 431 | 435 | 444 | 448 | |||||||||||||||
| Multifamily residential | — | — | — | — | — | |||||||||||||||
| Nonresidential properties | — | — | — | — | — | |||||||||||||||
| Construction and land | — | — | — | — | — | |||||||||||||||
| Non-mortgage loans: | ||||||||||||||||||||
| Business | — | — | — | — | — | |||||||||||||||
| Consumer | — | — | — | — | — | |||||||||||||||
| Total non-accruing modifications to borrowers experiencing financial difficulty (1) | 708 | 710 | 714 | 722 | 725 | |||||||||||||||
| Total non-performing assets (2) | $ | 23,858 | $ | 27,302 | $ | 27,345 | $ | 17,177 | $ | 18,469 | ||||||||||
| Accruing modifications to borrowers experiencing financial difficulty (1): | ||||||||||||||||||||
| Mortgage loans: | ||||||||||||||||||||
| 1-4 family residential | ||||||||||||||||||||
| Investor owned | $ | 1,779 | $ | 1,792 | $ | 1,807 | $ | 1,821 | $ | 1,830 | ||||||||||
| Owner occupied | 2,012 | 2,038 | 2,062 | 2,116 | 2,171 | |||||||||||||||
| Multifamily residential | — | — | — | — | — | |||||||||||||||
| Nonresidential properties | 655 | 644 | 652 | 672 | 707 | |||||||||||||||
| Construction and land | — | — | — | — | — | |||||||||||||||
| Non-mortgage loans: | ||||||||||||||||||||
| Business | 203 | 209 | 215 | 222 | — | |||||||||||||||
| Consumer | — | — | — | — | — | |||||||||||||||
| Total accruing modifications to borrowers experiencing financial difficulty (1) | $ | 4,649 | $ | 4,683 | $ | 4,736 | $ | 4,831 | $ | 4,708 | ||||||||||
| Total non-performing assets and accruing modifications to borrowers experiencing financial difficulty (1) | $ | 28,507 | $ | 31,985 | $ | 32,081 | $ | 22,008 | $ | 23,177 | ||||||||||
| Total non-performing assets to total assets | 0.76 | % | 0.88 | % | 0.90 | % | 0.57 | % | 0.65 | % | ||||||||||
(1) Balances include both modifications to borrowers experiencing financial difficulty, in accordance with ASU 2022-02 adopted on January 1, 2023, and previously existing troubled debt restructurings.
(2) Includes nonperforming mortgage loans held for sale.
Ponce Financial Group, Inc. and Subsidiaries
Average Balance Sheets
| For the Three Months Ended June 30, | |||||||||||||||||||||||
| 2025 | 2024 | ||||||||||||||||||||||
| Average | Average | ||||||||||||||||||||||
| Outstanding | Average | Outstanding | Average | ||||||||||||||||||||
| Balance | Interest | Yield/Rate (1) | Balance | Interest | Yield/Rate (1) | ||||||||||||||||||
| (Dollars in thousands) | |||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||
| Loans (2) | $ | 2,447,713 | $ | 40,291 | 6.60 | % | $ | 2,040,149 | $ | 31,281 | 6.17 | % | |||||||||||
| Securities (3) | 449,858 | 4,246 | 3.79 | % | 562,560 | 5,486 | 3.92 | % | |||||||||||||||
| Other (4) | 102,252 | 1,323 | 5.19 | % | 141,368 | 2,025 | 5.76 | % | |||||||||||||||
| Total interest-earning assets | 2,999,823 | 45,860 | 6.13 | % | 2,744,077 | 38,792 | 5.69 | % | |||||||||||||||
| Non-interest-earning assets | 104,059 | 105,774 | |||||||||||||||||||||
| Total assets | $ | 3,103,882 | $ | 2,849,851 | |||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||
| NOW/IOLA | $ | 68,155 | $ | 100 | 0.59 | % | $ | 72,932 | $ | 151 | 0.83 | % | |||||||||||
| Money market | 864,688 | 8,930 | 4.14 | % | 599,209 | 7,209 | 4.84 | % | |||||||||||||||
| Savings | 104,243 | 26 | 0.10 | % | 111,859 | 27 | 0.10 | % | |||||||||||||||
| Certificates of deposit | 772,363 | 7,382 | 3.83 | % | 635,850 | 6,358 | 4.02 | % | |||||||||||||||
| Total deposits | 1,809,449 | 16,438 | 3.64 | % | 1,419,850 | 13,745 | 3.89 | % | |||||||||||||||
| Advance payments by borrowers | 14,934 | 2 | 0.05 | % | 14,948 | 2 | 0.05 | % | |||||||||||||||
| Borrowings | 521,375 | 4,994 | 3.84 | % | 680,421 | 7,141 | 4.22 | % | |||||||||||||||
| Total interest-bearing liabilities | 2,345,758 | 21,434 | 3.66 | % | 2,115,219 | 20,888 | 3.97 | % | |||||||||||||||
| Non-interest-bearing liabilities: | |||||||||||||||||||||||
| Non-interest-bearing demand | 203,349 | — | 188,920 | — | |||||||||||||||||||
| Other non-interest-bearing liabilities | 36,435 | — | 49,437 | — | |||||||||||||||||||
| Total non-interest-bearing liabilities | 239,784 | — | 238,357 | — | |||||||||||||||||||
| Total liabilities | 2,585,542 | 21,434 | 2,353,576 | 20,888 | |||||||||||||||||||
| Total equity | 518,340 | 496,275 | |||||||||||||||||||||
| Total liabilities and total equity | $ | 3,103,882 | 3.66 | % | $ | 2,849,851 | 3.97 | % | |||||||||||||||
| Net interest income | $ | 24,426 | $ | 17,904 | |||||||||||||||||||
| Net interest rate spread (5) | 2.47 | % | 1.72 | % | |||||||||||||||||||
| Net interest-earning assets (6) | $ | 654,065 | $ | 628,858 | |||||||||||||||||||
| Net interest margin (7) | 3.27 | % | 2.62 | % | |||||||||||||||||||
| Average interest-earning assets to interest-bearing liabilities | 127.88 | % | 129.73 | % | |||||||||||||||||||
| (1) | Annualized where appropriate. | |
| (2) | Loans include loans and mortgage loans held for sale, at fair value. | |
| (3) | Securities include available-for-sale securities and held-to-maturity securities. | |
| (4) | Includes FHLBNY demand account, FHLBNY stock dividends and FRBNY demand deposits. | |
| (5) | Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. | |
| (6) | Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. | |
| (7) | Net interest margin represents net interest income divided by average total interest-earning assets. | |
Ponce Financial Group, Inc. and Subsidiaries
Average Balance Sheets
| Six Months Ended June 30, | ||||||||||||||||||||||||
| 2025 | 2024 | |||||||||||||||||||||||
| Average | Average | |||||||||||||||||||||||
| Outstanding | Average | Outstanding | Average | |||||||||||||||||||||
| Balance | Interest | Yield/Rate (1) | Balance | Interest | Yield/Rate (1) | |||||||||||||||||||
| (Dollars in thousands) | ||||||||||||||||||||||||
| Interest-earning assets: | ||||||||||||||||||||||||
| Loans (2) | $ | 2,408,788 | $ | 77,427 | 6.48 | % | $ | 2,009,706 | $ | 61,945 | 6.20 | % | ||||||||||||
| Securities (3) | 458,660 | 8,767 | 3.85 | % | 569,397 | 11,105 | 3.92 | % | ||||||||||||||||
| Other (4) | 143,905 | 3,663 | 5.13 | % | 189,899 | 5,408 | 5.73 | % | ||||||||||||||||
| Total interest-earning assets | 3,011,353 | 89,857 | 6.02 | % | 2,769,002 | 78,458 | 5.70 | % | ||||||||||||||||
| Non-interest-earning assets | 106,600 | 106,172 | ||||||||||||||||||||||
| Total assets | $ | 3,117,953 | $ | 2,875,174 | ||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||||||
| NOW/IOLA | $ | 70,243 | $ | 215 | 0.62 | % | $ | 77,891 | $ | 369 | 0.95 | % | ||||||||||||
| Money market | 846,420 | 17,341 | 4.13 | % | 571,886 | 13,501 | 4.75 | % | ||||||||||||||||
| Savings | 104,704 | 52 | 0.10 | % | 112,680 | 55 | 0.10 | % | ||||||||||||||||
| Certificates of deposit | 783,256 | 15,136 | 3.90 | % | 632,689 | 12,738 | 4.05 | % | ||||||||||||||||
| Total deposits | 1,804,623 | 32,744 | 3.66 | % | 1,395,146 | 26,663 | 3.84 | % | ||||||||||||||||
| Advance payments by borrowers | 13,696 | 4 | 0.06 | % | 13,917 | 4 | 0.06 | % | ||||||||||||||||
| Borrowings | 544,857 | 10,480 | 3.88 | % | 725,745 | 15,064 | 4.17 | % | ||||||||||||||||
| Total interest-bearing liabilities | 2,363,176 | 43,228 | 3.69 | % | 2,134,808 | 41,731 | 3.93 | % | ||||||||||||||||
| Non-interest-bearing liabilities: | ||||||||||||||||||||||||
| Non-interest-bearing demand | 200,007 | — | 193,891 | — | ||||||||||||||||||||
| Other non-interest-bearing liabilities | 40,155 | — | 51,749 | — | ||||||||||||||||||||
| Total non-interest-bearing liabilities | 240,162 | — | 245,640 | — | ||||||||||||||||||||
| Total liabilities | 2,603,338 | 43,228 | 2,380,448 | 41,731 | ||||||||||||||||||||
| Total equity | 514,615 | 494,726 | ||||||||||||||||||||||
| Total liabilities and total equity | $ | 3,117,953 | 3.69 | % | $ | 2,875,174 | 3.93 | % | ||||||||||||||||
| Net interest income | $ | 46,629 | $ | 36,727 | ||||||||||||||||||||
| Net interest rate spread (5) | 2.33 | % | 1.77 | % | ||||||||||||||||||||
| Net interest-earning assets (6) | $ | 648,177 | $ | 634,194 | ||||||||||||||||||||
| Net interest margin (7) | 3.12 | % | 2.67 | % | ||||||||||||||||||||
| Average interest-earning assets to | ||||||||||||||||||||||||
| interest-bearing liabilities | 127.43 | % | 129.71 | % | ||||||||||||||||||||
| (1) | Annualized where appropriate. | |
| (2) | Loans include loans and mortgage loans held for sale, at fair value. | |
| (3) | Securities include available-for-sale securities and held-to-maturity securities. | |
| (4) | Includes FHLBNY demand account, FHLBNY stock dividends and FRBNY demand deposits. | |
| (5) | Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. | |
| (6) | Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. | |
| (7) | Net interest margin represents net interest income divided by average total interest-earning assets. | |
Ponce Financial Group, Inc. and Subsidiaries
Other Data
| As of | ||||||||||||||||||||
| June 30, | March 31, | December 31, | September 30, | June 30, | ||||||||||||||||
| 2025 | 2025 | 2024 | 2024 | 2024 | ||||||||||||||||
| Other Data | ||||||||||||||||||||
| Common shares issued | 24,886,711 | 24,886,711 | 24,886,711 | 24,886,711 | 24,886,711 | |||||||||||||||
| Less treasury shares | 901,911 | 920,520 | 925,497 | 1,067,248 | 1,074,979 | |||||||||||||||
| Common shares outstanding at end of period | 23,984,800 | 23,966,191 | 23,961,214 | 23,819,463 | 23,811,732 | |||||||||||||||
| Book value per common share | $ | 12.34 | $ | 12.05 | $ | 11.71 | $ | 11.74 | $ | 11.45 | ||||||||||
| Tangible book value per common share | $ | 12.34 | $ | 12.05 | $ | 11.71 | $ | 11.74 | $ | 11.45 | ||||||||||
Contact:
Sergio J. Vaccaro
sergio.vaccaro@poncebank.net
718-931-9000
FAQ
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