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Mar 31, 2024
Ponce Financial Q1 2024 Earnings Report
Ponce Financial Group reported increased net income and net interest income for Q1 2024.
Key Takeaways
Ponce Financial Group reported a net income of $2.4 million for the first quarter of 2024, an increase compared to the previous quarter and the same quarter last year. Net interest income also increased, driven by growth in interest and dividend income.
Net income was $2.4 million, or $0.11 per diluted share.
Net interest income increased to $18.8 million.
Non-interest income increased to $1.7 million.
Non-interest expense decreased to $17.0 million.
Forward Guidance
Ponce Financial Group anticipates that their prudent approach to underwriting practices and balance sheet management may result in lower loan growth in the coming quarters, despite seeing resiliency in their client base.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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