Ponce Financial Group Inc

Ponce Financial Group, Inc. operates as a holding company, which engages in acquiring banking and financial services companies. The company is headquartered in Bronx, New York and currently employs 218 full-time employees. The company went IPO on 2017-10-02. The company operates through an administrative office and approximately 13 full-service banking offices and five mortgage loan offices. The Bank's business primarily consists of taking deposits from the general public and investing those deposits, together with funds generated from operations and borrowings, in mortgage loans, consisting of one-to-four family residential (both investor-owned and owner-occupied), multifamily residential, nonresidential properties and construction and land, and, to a lesser extent, in business and consumer loans. The company also invests in securities, corporate securities, mortgage-backed securities, and Federal Home Loan Bank of New York stock. The Bank offers a variety of deposit accounts, including demand, savings, money markets and certificates of deposit accounts. Its primary market area consists of the New York City metropolitan area.