Ponce Financial Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 28, 2023 at 04:30 pm EDT
Share
Ponce Financial Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 16.28 million compared to USD 15.49 million a year ago. Net loss was USD 0.087 million compared to net income of USD 0.771 million a year ago.
For the six months, net interest income was USD 31.53 million compared to USD 32.83 million a year ago. Net income was USD 0.244 million compared to net loss of USD 6.05 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to basic loss per share from continuing operations of USD 0.27 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to diluted loss per share from continuing operations of USD 0.27 a year ago.
Ponce Financial Group, Inc. is the holding company of Ponce Bank (the Bank), a federally chartered stock savings association. It operates through the administrative office and 13 full-service banking offices and five mortgage loan offices. The Bank's business primarily consists of taking deposits from the general public and investing those deposits, together with funds generated from operations and borrowings, in mortgage loans, consisting of one-to-four family residential (both investor-owned and owner-occupied), multifamily residential, nonresidential properties and construction and land, and, to a lesser extent, in business and consumer loans. The Bank also invests in securities, corporate securities, mortgage-backed securities and Federal Home Loan Bank of New York stock. The Bank offers a variety of deposit accounts, including demand, savings, money markets and certificates of deposit accounts. The Companyâs primary market area consists of the New York City metropolitan area.
PONCE FINANCIAL GROUP, INC. 
