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Dec 31, 2024
Ponce Financial Q4 2024 Earnings Report
Reported increased net income and net interest income for the fourth quarter of 2024.
Key Takeaways
Ponce Financial Group reported a net income available to common stockholders of $2.7 million, or $0.12 per diluted share, for Q4 2024, compared to $0.5 million, or $0.02 per diluted share, for Q4 2023. Net interest income increased by $3.5 million, or 20.54%, compared to the same quarter last year. The company's levels of liquidity and capital remain strong, with loans growing by 20.61% and deposits by 25.02%.
Net income available to common stockholders was $2.7 million, or $0.12 per diluted share.
Net interest income increased to $20.7 million, up 20.54% from the same quarter last year.
Net interest margin increased to 2.80%, compared to 2.66% for the same quarter last year.
Loans grew by 20.61% and deposits by 25.02%.
Forward Guidance
Ponce Financial Group is working diligently to ensure that it will meet the conditions necessary to allow them to repurchase their ECIP preferred stock in the future.
Positive Outlook
- Executed an agreement with the U.S. Treasury to buy back ECIP preferred shares.
- Launched PonceDirect digital bank and gained significant traction with SBA loans.
- Levels of liquidity and capital remain strong.
- Loans grew by 20.61% and deposits by 25.02%.
- Consistent profitability over the past several quarters.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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