Ponce Financial Group Inc 2025年季度报告

OR If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ FINANCIAL INFORMATIONConsolidated Financial Statements iSignatures Consolidated Statementsof Stockholders’ Equity (Unaudited)Three Months Ended March 31, 2025 and 2024(Dollars in thousands, except share data)AccumulatedUnallocatedTreasuryAdditionalOtherCommonPreferred StockCommon StockStock,Paid-inRetainedComprehensiveStockSharesAmountSharesAmountAt CostCapitalEarningsLossof ESOPBalance, December 31, 2024225,000$225,00023,961,214$249$(7,707)$207,319$107,754$(15,297)$(11,818)——————5,959——Preferred Stock Dividend(281)Other comprehensive income, net of tax———————1,782—Release of restricted stock units——4,977—66(66)—— Consolidated Statements of Cash Flows (Unaudited)Three Months Ended March 31, 2025 and 2024 Three Months EndedMarch 31,2025 Gain on sale of loans(552)Grain recoveries—Benefit for credit losses(285) Share-based compensation expenseDeferred income taxes Changes in assets and liabilities:Decrease in mortgage loans held for sale, fair value2,317Increase in accrued interest receivable(1,237)Decrease in other assets8,448Increase (decrease) in accrued interest payable916 Proceeds from maturities, calls and principal repayments on securitiesProceeds from sale of loans Net increase in loans(90,397)Purchase of loans—Purchases of premises and equipment(154)Net cash used in investing activities(67,835)Cash Flows From Financing Activities:Net increase in deposits120,083Net repayments from borrowings(75,000) The accompanying notes are an integral part of the consolidated financial statements (unaudited). Note 1. Nature of BusinessBasis of Presentation and Consolidation:Ponce Financial Group, Inc. (hereafter referred to as “we,” “our,” “us,” “Ponce Financial Group, Inc.,” or the “Company”) is the The Consolidated Financial Statements include the accounts of the Company, its wholly-owned subsidiary Ponce Bank (the“Bank”) and the Bank’s wholly-owned subsidiary, Ponce De Leon Mortgage Corp., which is a mortgage banking entity. Allsignificant intercompany transactions and balances have been eliminated in consolidation.For further information, refer to the audited Consolidated Financial Statements and Notes included in the Company' Annual Report that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, as of the date of theconsolidated statement of financial condition, and revenues and expenses for the reporting period. Actual results could differ fromthose estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determinationof the allowance for credit losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans,the valuation of loans held for sale, the valuation of deferred tax assets and investment securities and the estimates relating to thevaluation for share-based awards. (the “CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’sChiefExecutive Officeris the Company’s CODM.The CODM reviews financial information presented on a consolidated basis forpurposes of making operating decisions, allocating resources, and evaluating financial performance.As such, the Company hasdetermined that it operates asoneoperating segment andonereportable segment. InNovember 2024,the FASB issued ASU 2024-03,"Income Statement-Reporting Comprehensive Income-ExpenseDisaggregation Disclosure (Subtopic 220-40)."The amendments improve the disclosures about a public business entity's expensesand address requests from investors for more detailed information about the types of expenses (including purchases of inventory, Preferred Stock pursuant to the purchase option is determined based on a formula equal to the present value of the Preferred Stock,calculated as set forth in the Repurchase Agreement, together with any accrued and unpaid dividends thereon, as of the closingdate. Subject to variations in interest rates and the equity risk premium, which are components included in the purchase pricecalculation, the Company presently expects that the purchase price will be at a substantial discount from the face value of thePreferred Stock.The purchase option may not be exercised unless and until at least one of the Threshold Conditions under the Repurchase The earliest possible date by which a Threshold Condition may be met is June 30, 2026, which is the end of the sixteenth consecutive quarter following the Original Closing Date. However, the Company does not currently meet any of the ThresholdConditions to exercise the purchase option, and t