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Sep 30, 2022
Ponce Financial Q3 2022 Earnings Report
Reported a net loss due to pre-tax charges related to Grain Technologies, Inc.
Key Takeaways
Ponce Financial Group, Inc. reported a net loss of ($14.7) million, or ($0.64) per diluted share, for the third quarter of 2022, impacted by $17.5 million of pre-tax charges related to Grain Technologies, Inc. Net interest income increased by $2.1 million from the prior quarter and $2.2 million from the same quarter last year, driven by growth in the securities portfolio.
Net loss of ($14.7) million or ($0.64) per diluted share, for the three months ended September 30, 2022.
Included in the ($14.7) million 2022 third quarter results are $17.5 million of pre-tax charges related to Grain Technologies, Inc.
Net interest income of $17.6 million for the 2022 third quarter increased $2.1 million, or 13.71%, from the prior quarter and $2.2 million, or 14.06%, from the same quarter last year, largely due to increases in the Company's securities portfolio.
Net interest margin was 3.62% for the 2022 third quarter, a decrease from 4.10% for the prior quarter and from 4.13% for the same quarter last year.
Historical Earnings Impact
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