Ponce Financial Group Inc
For the period ended Sep 30, 2024. Filed Nov 7, 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.
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.
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Consolidated Statements of Financial Condition (Unaudited)
September 30, 2024 and December 31, 2023
| September 30, | December 31, | |
|---|---|---|
| 2024 | 2023 | |
| (unaudited) | ||
| ASSETS | ||
| Cash and due from banks: | ||
| Cash | $32,061 | $28,930 |
| Interest-bearing deposits | 123,751 | 110,260 |
| Total cash and cash equivalents | 155,812 | 139,190 |
| Available-for-sale securities, at fair value (Note 3) | 111,005 | 119,902 |
| Held-to-maturity securities, net of allowance for credit losses of $207 at September 30, 2024 and $398 at December 31, 2023; at amortized cost (fair value 2024 $398,823; 2023 $450,042) (Note 3) | 403,736 | 461,748 |
| Placement with banks | 249 | 249 |
| Mortgage loans held for sale, at fair value (Note 4) | 9,566 | 9,980 |
| Loans receivable, net of allowance for credit losses of $23,966 at September 30, 2024 and $26,154 at December 31, 2023 (Note 5) | 2,180,331 | 1,895,886 |
| Accrued interest receivable | 16,890 | 18,010 |
| Premises and equipment, net | 16,843 | 16,053 |
| Right of use assets (Note 6) | 29,785 | 31,272 |
| Federal Home Loan Bank of New York (FHLBNY) stock, at cost | 28,515 | 19,377 |
| Deferred tax assets | 11,845 | 14,332 |
| Other assets | 51,392 | 24,723 |
| Total assets | $3,015,969 | $2,750,722 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Liabilities: | ||
| Deposits (Note 7) | $1,870,323 | $1,507,620 |
| Operating lease liabilities | 31,343 | 32,684 |
| Accrued interest payable | 2,918 | 11,965 |
| Advance payments by borrowers for taxes and insurance | 13,733 | 10,778 |
| Borrowings (Note 8) | 580,421 | 684,421 |
| Other liabilities | 12,642 | 11,859 |
| Total liabilities | 2,511,380 | 2,259,327 |
| Commitments and contingencies (Note 11) | ||
| Stockholders' Equity: | ||
| Preferred stock, $0.01 par value; 100,000,000 shares authorized, 225,000 shares issued and outstanding as of September 30, 2024 and as of December 31, 2023. | 225,000 | 225,000 |
| Common stock, $0.01 par value; 200,000,000 shares authorized; 24,886,711 shares issued and 23,819,463 shares outstanding as of September 30, 2024 and 24,886,711 shares issued and 23,785,520 shares outstanding as of December 31, 2023 | 249 | 249 |
| Treasury stock, at cost; 1,067,248 shares as of September 30, 2024 and 1,101,191 shares as of December 31, 2023 | (9,445) | (9,747) |
| Additional paid-in-capital | 208,478 | 207,106 |
| Retained earnings | 105,103 | 97,420 |
| Accumulated other comprehensive loss (Note 14) | (12,686) | (15,649) |
| Unearned compensation ─ ESOP; 1,335,424 shares as of September 30, 2024 and 1,435,732 shares as of December 31, 2023 | (12,110) | (12,984) |
| Total stockholders' equity | 504,589 | 491,395 |
| Total liabilities and stockholders' equity | $3,015,969 | $2,750,722 |
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