Ponce Bank Exceeds ECIP Targets and Qualifies for 0.5% Preferred Stock Dividend Rate
Ponce Financial Group, Inc. (PDLB)
US:NASDAQ Investor Relations:
poncebank.gcs-web.com
Company Research
Source: GlobeNewswire
NEW YORK, June 20, 2024 (GLOBE NEWSWIRE) -- Ponce Financial Group, Inc., (the “Company”) (NASDAQ: PDLB), the holding company for Ponce Bank (the “Bank”), today reported that the Bank exceeded the dividend rate reduction threshold for Qualified Lending targets designated by the U.S. Treasury Department pursuant to the Emergency Capital Investment Program ("ECIP"). The Bank's “qualified lending” as measured pursuant to ECIP totaled $1.162 billion from June 8, 2023 through March 31, 2024. This critical milestone of the ECIP program reduces the dividend obligation on Ponce Financial Group’s $225.0 million Senior Non-Cumulative Perpetual Preferred Stock payable to the U.S. Treasury Department from 2.0% to 0.50% for the quarterly dividends payable through June 2025, resulting in a one-year annualized savings of $3.375 million. The Bank achieved this milestone during the first official reporting period of the program with $717.73 million in Qualified Lending and of which $445.08 million
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News
- Owning 39% shares,institutional owners seem interested in Ponce Financial Group, Inc. (NASDAQ:PDLB), [Yahoo! Finance]Yahoo! Finance
- Ponce Bank Exceeds ECIP Targets and Qualifies for 0.5% Preferred Stock Dividend Rate [Yahoo! Finance]Yahoo! Finance
- Ponce Financial Group First Quarter 2024 Earnings: EPS: US$0.11 (vs US$0.014 in 1Q 2023) [Yahoo! Finance]Yahoo! Finance
- Ponce Financial (PDLB) Tops Q1 Earnings and Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Ponce Financial Group, Inc. Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
PDLB
Sec Filings
- 6/20/24 - Form 8-K
- 6/17/24 - Form 8-K
- 6/4/24 - Form 8-K
- PDLB's page on the SEC website