Ponce Financial Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 30, 2023 at 04:32 pm EDT
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Ponce Financial Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 16.54 million compared to USD 17.61 million a year ago. Net income was USD 2.59 million compared to net loss of USD 14.74 million a year ago. Basic earnings per share from continuing operations was USD 0.12 compared to basic loss per share from continuing operations of USD 0.64 a year ago. Diluted earnings per share from continuing operations was USD 0.12 compared to diluted loss per share from continuing operations of USD 0.64 a year ago.
For the nine months, net interest income was USD 48.07 million compared to USD 50.44 million a year ago. Net income was USD 2.83 million compared to net loss of USD 20.79 million a year ago. Basic earnings per share from continuing operations was USD 0.12 compared to basic loss per share from continuing operations of USD 0.92 a year ago. Diluted earnings per share from continuing operations was USD 0.12 compared to diluted loss per share from continuing operations of USD 0.92 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. 
