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Stock impact report

PDL Community Bancorp Announces 2019 First Quarter Results

Ponce Financial Group, Inc. (PDLB) 
US:NASDAQ Investor Relations: poncebank.gcs-web.com
Company Research Source: GlobeNewswire
NEW YORK, May 07, 2019 (GLOBE NEWSWIRE) -- PDL Community Bancorp (the “Company”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”), reported net income of $668,000 for the quarter ended March 31, 2019 compared to a net income of $941,000 for the quarter ended March 31, 2018. The decrease in quarterly net income amounted to $273,000 and was attributable to an increase in noninterest expenses of $832,000, increases in provisions for loan losses of $55,000 and income taxes of $39,000, and a reduction in noninterest income of $132,000, offset by an increase in net interest income of $785,000. Basic and fully diluted earnings per share were both $0.04 for the quarter ended March 31, 2019 compared to $0.05 for the quarter ended March 31, 2018.   Carlos P. Naudon, President and CEO, noted that “our slower growth this quarter reflected our commitment to maintain asset quality and manage cost of funds. We are pleased to note that our branches have now largely deployed their ne Show less Read more
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