Ponce Financial Group, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
January 31, 2023 at 02:58 am IST
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Ponce Financial Group, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported net interest income was USD 16.17 million compared to USD 16.78 million a year ago. Net loss was USD 9.21 million compared to net income of USD 14.98 million a year ago. Basic loss per share from continuing operations was USD 0.4. Diluted loss per share from continuing operations was USD 0.4.
For the full year, net interest income was USD 66.6 million compared to USD 58.85 million a year ago. Net loss was USD 30 million compared to net income of USD 25.42 million a year ago. Basic loss per share from continuing operations was USD 1.32. Diluted loss per share from continuing operations was USD 1.32.
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. 
