Ponce Financial Group Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 7, 2024
PDLB$21.95-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows (Unaudited)
Nine Months Ended September 30, 2024 and 2023
(In thousands)
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| 2024 | 2023 | |
| Cash Flows From Operating Activities: | ||
| Net income | $8,039 | $2,834 |
| Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||
| Amortization of premiums/discounts on securities, net | (82) | (90) |
| Gain on sale of loans | (794) | (277) |
| Provision for credit losses | 235 | 1,348 |
| Depreciation and amortization | 3,484 | 3,249 |
| ESOP compensation expense | 1,028 | 815 |
| Share-based compensation expense | 1,555 | 1,213 |
| Deferred income taxes | 1,691 | 909 |
| Changes in assets and liabilities: | ||
| Decrease (increase) in mortgage loans held for sale, fair value | 2,032 | (9,972) |
| Decrease (increase) in accrued interest receivable | 1,120 | (1,575) |
| Increase in other assets | (26,669) | (2,298) |
| (Decrease) increase in accrued interest payable | (9,047) | 6,995 |
| Decrease in operating lease liabilities | (1,897) | (1,646) |
| Increase in advance payments by borrowers | 2,955 | 4,019 |
| Increase in other liabilities | 695 | 1,825 |
| Net cash (used in) provided by operating activities | (15,655) | 7,349 |
| Cash Flows From Investing Activities: | ||
| Net (purchase) and redemption of FHLBNY stock | (9,123) | 5,781 |
| Proceeds from maturities, calls and principal repayments on securities | 70,940 | 48,586 |
| Placement with banks | — | 498 |
| Net increase in loans | (279,739) | (294,628) |
| Purchase of loans | (5,956) | — |
| Purchases of premises and equipment | (2,242) | (370) |
| Net cash used in investing activities | (226,120) | (240,133) |
| Cash Flows From Financing Activities: | ||
| Net increase in deposits | 362,703 | 148,720 |
| Repurchase of treasury stock | — | (11,009) |
| Net (repayments) proceeds from borrowings | (104,000) | 157,725 |
| Dividends paid on preferred stock | (306) | — |
| Net cash provided by financing activities | 258,397 | 295,436 |
| Net increase in cash and cash equivalents | 16,622 | 62,652 |
| Cash and cash equivalents at beginning of period | 139,190 | 54,360 |
| Cash and cash equivalents at end of period | $155,812 | $117,012 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest on deposits and borrowings | $73,048 | $35,853 |
| Cash paid for income taxes | $1,363 | $489 |
| Supplemental Disclosures of Noncash Investing Activities: | ||
| Transferred from loans receivable to mortgage loans held for sale, at fair value | $824 | $6,720 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.