Key Insights Institutions' substantial holdings in Ponce Financial Group implies that they have significant influence...
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 crit
BNY Mellon (NYSE:BK), the global financial services company, today announced a collaboration with Ponce Bank, a Bronx-based Minority Deposit Institution (MDI), as part of the U.S. Treasury Department's Financial Agent Mentor-Protégé Program. This alliance between BNY Mellon and Ponce Bank will supplement Ponce Bank's investment in local businesses, housing, and services in underserved communities, and aim to grow the Bank's assets.