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Ponce Financial Group Inc ( (PDLB) ) just unveiled an update.
Ponce Financial Group, Inc. reported its financial results for the fourth quarter and full year of 2024, showcasing a significant improvement in net income compared to the previous year. The company saw an 8.97% increase in net interest income for the quarter and a 20.54% increase from the same quarter last year, alongside a rise in net interest margin to 2.80%. Full-year net income for 2024 reached $10.3 million, a substantial increase from 2023. The company also reported growth in net loans receivable and deposits. Notably, an agreement with the U.S. Treasury positions Ponce Financial to potentially repurchase its ECIP preferred shares, contingent upon meeting specific conditions, highlighting its strategic moves aimed at strengthening financial stability and operational efficiency.
More about Ponce Financial Group Inc
Ponce Financial Group, Inc. is the holding company for Ponce Bank, a financial institution that operates primarily in the banking industry. It provides various financial services and focuses on community development as a Minority Depository Institution and Community Development Financial Institution.
YTD Price Performance: 1.53%
Average Trading Volume: 46,484
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $311.4M
For an in-depth examination of PDLB stock, go to TipRanks’ Stock Analysis page.