Ponce Financial Group Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
PDLB$21.95-0.8%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| Cash Flows From Operating Activities: | ||
| Net income | $2,414 | $331 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Amortization of premiums/discounts on securities, net | (39) | (30) |
| Gain on sale of loans | (276) | — |
| Gain on derivatives | — | (119) |
| Grain recoveries | (53) | (914) |
| Benefit for credit losses | (180) | (174) |
| Depreciation and amortization | 673 | 742 |
| ESOP compensation expense | 297 | 262 |
| Share-based compensation expense | 517 | 404 |
| Deferred income taxes | 667 | 391 |
| Changes in assets and liabilities: | ||
| Decrease (increase) in mortgage loans held for sale, fair value | 2,396 | (1,008) |
| Increase in accrued interest receivable | (53) | (386) |
| Decrease (increase) in other assets | 3,572 | (778) |
| (Decrease) increase in accrued interest payable | (7,747) | 377 |
| Decrease in operating lease liabilities | (198) | (224) |
| Increase in advance payments by borrowers | 2,467 | 5,178 |
| (Decrease) increase in other liabilities | (2,996) | 2,094 |
| Net cash provided by operating activities | 1,461 | 6,146 |
| Cash Flows From Investing Activities: | ||
| Net purchase and redemption of FHLBNY stock | (4,500) | 5,452 |
| Proceeds from maturities, calls and principal repayments on securities | 11,419 | 21,140 |
| Placements with banks | — | 249 |
| Net increase in loans | (79,278) | (117,890) |
| Purchase of loans | (5,956) | — |
| Purchases of premises and equipment | (1,776) | (235) |
| Net cash used in investing activities | (80,091) | (91,284) |
| Cash Flows From Financing Activities: | ||
| Net increase in deposits | 78,164 | 84,465 |
| Net proceeds from borrowings | (4,000) | 131,000 |
| Net cash provided by financing activities | 74,164 | 215,465 |
| Net (decrease) increase in cash and cash equivalents | (4,466) | 130,327 |
| Cash and cash equivalents at beginning of period | 139,190 | 54,360 |
| Cash and cash equivalents at end of period | $134,724 | $184,687 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest on deposits and borrowings | $28,590 | $10,734 |
| Cash paid for income taxes | $290 | $37 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.