Empowering Communities, Changing Lives Rooted in Community Driven by Impact. Salford & co
Prepared by :
2024
Corporate Headquarters 2244 Westchester Ave . | Bronx , New York 10462 Tel : ( 718 ) 931 - 9000 Ponce Bank | Facebook | LinkedIn | Instagram
poncebank . com
Your Neighbor – Ponce Bank
We are: De la comunidad. En la comunidad. Para la comunidad. Of the community. In the community. For the community.
Originally known as Ponce De Leon Federal Savings and Loan Association, Ponce Bank was born in the Bronx in 1960 at a time when most banks had abandoned the community. Our founders, business owners, and community activists, wanted to provide access to capital for the community they were a part of. Today Ponce Bank is a Community Development Financial Institution (CDFI), a Minority-Depository Institution (MDI), SBA Lender and its holding company are publicly traded on the NASDAQ exchange. (Ticker. PDLB)
OUR MISSION AND PURPOSE
At Ponce Bank we help our neighbors prosper by providing banking services, financial education, and community building initiatives and partnerships that allow them to dream and achieve vibrant futures. We’re on a mission to prove that community banking is a powerful engine for social equity. We believe these values pave a path towards prosperity for all our stakeholders, including shareholders, customers, neighbors, and friends.
Median Household Income 3
# Persistent Poverty Tracts 4
OUR COMMUNITY
Poverty Rate 26.95% 18.89% 15.84% 12.25% 14.80% 1
Unemployment Rate 6.9% 5.7% 4.8% 4.7% 4.3% 2
# of Branches
County Bronx County, NY* Kings County, NY* New York County, NY Queens County, NY Hudson County, NJ
4 3 2 3 1
$49,036 $78,548 $104,553 $84,961 $90,032
183/339 201/761 77/288 23/669 17/166
* A CDFI Fund Persistent Poverty County in 2023
TOP RATED
Ponce Bank is consistently ranked in Top 10 out of 194 CDFI banks in the National Community Investment Fund 2024Q3 CDFI Banking Industry Peer Group Report
Ranked #2
#6
for Deposits amongst CDFI Banks in Housing Focus
In Assets, Loans, and Deposits of the largest CDFI Banks with branches located in LMI census tracts In total Loans among all CDFI banks nationwide
1.Estimated percent of all people that are living in poverty as of 2018–2022. PolicyMap (based on data from Census: US Bureau of the Census, American Community Survey). Accessed May 22, 2024. http://www.policymap.com. 2.Unemployment rate in 2023. PolicyMap (based on data from BLS: BLS Local Area Unemployment Statistics, available at http://www.bls.gov/lau/#tables). Accessed June 24, 2024. http://www.policymap.com. 3.Estimated median income of a household, between 2018–2022. PolicyMap (based on data from Census: US Bureau of the Census, American Community Survey). Accessed June 24, 2024. http://www.policymap.com. 4.Concentrated persistent poverty, as of 2019. PolicyMap (based on data from Census, Brown University, and PolicyMap: Data downloaded from https://s4.ad.brown.edu/Projects/Diversity/Researcher/LTDB.htm, June 2023). Accessed May 22, 2024. http://www.policymap.com 5.National Community Investment Fund (NCIF) 2024Q3 CDFI Banking Industry Peer Group Report
Ranked #3 Housing Focus in Total Assets and Loans
In total Assets among all CDFI banks nationwide
Environmental Responsibility
Ponce Bank continually looks for ways to improve efficiency in ways that also reduce negative environmental impact . In 2024 the Bank installed new , more efficient water filtration systems that also reduce branch operating expenses .
Additionally , in 2024 we were able to increase our Energy Star Rating of our Headquarters from a D to a C . Ponce Bank is committed to continuing to improve environmental outcomes while also decreasing operating expenses , so more resources are freed to help the communities we serve .
United Nations Sustainable Development Goals
Ponce Bank Financial Mastery programs offer life-long learning opportunities to all ages on a variety of topics related to money, banking, and business. By financing developments in affordable housing and commercial developments, Ponce is supporting the infrastructure of our neighborhoods today and in the future.
We provide all of our employees with a living-wage and respectful work environment and support our local businesses so they can do the same. Since our founding Ponce Bank has worked directly with our community to redress historic systemic unequal access to financial products and services.
SOCIAL IMPACT Ponce Bank is committed to create a work environment where all are welcome regardless of race, color, religion, gender, sexual orientation, gender identity, national origin, age, genetic information, marital status, amnesty, disability, veteran status, and medical condition or diagnosis. Ponce Bank has created a workplace culture of respect and collaboration that supports our employees. Our employees carry that respect into every interaction with our customers and community.
Minority Bank executives and senior level managers 53%
Female Bank executives and senior level managers 40%
Percent of staff identifying as Minority 86%
GOVERNANCE Leadership at Ponce Bank is “De la Comunidad” bringing unique and varied perspectives into Ponce Bank
75% of our Board Directors are 1st or of 2nd generation immigrants.
75% of the Board is independent*
PONCE received Rating of OUTSTANDING Community Reinvestment Act Performance (CRA) from Office of the Comptroller of the Currency (OCC)
* the majority of board members are required to be independent
At Ponce Bank we are always looking for ways to do more for the communities we serve. In 2024 we invested 80 cents of each deposit dollar into our community . From 2021-2024 Ponce Bank’s capital recruitment efforts have generated millions of dollars of additional community investment. And the more dollars we can recruit the more we have to reinvest! Amplifying Impact
38 BUSINESS LOANS $17,379,151
150 1-4 FAMILY MORTGAGES $85,527,683
13 MULTI-FAMILY MORTGAGES $67,982,515
$230MM Total Awards 2021-2024
59 CONSUMER LOANS $686,635
26 LAND, CONSTRUCTION
26 NON RESIDENTIAL
& DEV LOANS $374,231,045
MORTGAGES $175,153,295
2024 Total Loan Originations 312 $720,960,324
$160.3MM Mission Driven Partner Deposits
Impact Lending & Investment Since our founding, Ponce Bank has invested dollars in places where they can do the most good. We’ve built on that tradition by creating access to capital in areas of Persistent Poverty, Majority Minority Communities, and CDFI Fund Underserved Areas. (Treasury Report data)
2024 IMPACT LENDING
% of Originations
Q3 Loans
Q4 Loans
Total Category Lending
Q1 Loans Impact Origination Type
Q2 Loans
46
54.69% $489.4MM
37
Urban Low-Income Areas
32
54
Minority Communities Underserved/CDFI Investment Areas Persistent Poverty Counties
65.37%
45
43
62
52
$531.5MM
64.40%
41
43
62
53
$521.6MM
41.75%
$421.3MM
24
34
43
28
Small businesses have a large impact on their communities, but being a small business isn’t easy. Ponce provides innovative solutions like the Empire State Development Linked Deposit Program, which lowers the interest rates small business borrowers pay, and Prosper small business loans of up to $25,000. Credit decisions for Prosper loans are based on demonstrated business cash-flow not credit score. These programs meet our small businesses where they are and help them access the capital they need to thrive and grow. Small Businesses: We Invest in our Neighbors
2024
Commercial and Industrial Loans
“Small business is a misnomer; small businesses are the largest employers in America”
38
Total Business Loans
$17.4MM $2.0MM
Amount of C & I Credit Accessed
Loans $ to Low- to Moderate-Income Borrowers
- Carlos P . Naudon , Ponce Bank President & CEO
$364,524
$ of Prosper small business loan originations
$11.7MM
SBA Loans
Impact Focus: $MALL BUSINESS BOOTCAMP In 2021 Ponce Bank received community requests for educational opportunities for small businesses in low- to moderate-income areas and minority communities. To meet this need Ponce Bank partnered with the Business Outreach Center to create and deliver the Being Ready Series, a course of four free classes designed to help small businesses learn healthy financial practices. At the request of the participants and community; the series; shared in the Bronx, Brooklyn, Queens, Manhattan, and New Jersey; expanded to include a second series of classes in 2022 and a third series of classes in 2023. In 2023 the expanded series was renamed the $mall Business Bootcamp, to better represent the series’ intended audience and topics.
233 116 10 2024 $mall Business Bootcamp graduates Graduates with business generating less than $1MM in annual revenue Graduates that self- identified as having a disability
In 2024, 403 business owners participated in the Ponce $mall Business Bootcamps. Ponce Bank is excited to continue meeting a communities’ need and growing and expanding the series further in the future.
Impact: Affordable Homeownership
“Home ownership is the primary wealth builder. It’s the Legacy We Create!” -Carlos P. Naudon, Ponce Bank President & CEO Housing is often one’s greatest expense, and in the NYC metropolitan area, tens of thousands of households are burdened by housing costs that are more than 30% of their income. We work with our community partners and customers to create more affordable housing in our communities, create access to capital for underserved areas and low-income areas, and provide affordable and flexible finance options which allow families to purchase homes where they can build wealth in home equity and, as owners, directly control their housing costs. We continue to find innovative ways to support affordable homeownership including connecting first-time homeowners to $9,500 in down-payment and closing cost grants through a new program* launched in 2023. $220.2
Originations
Total Loan $ in Millions
$220.2
$39.1
$220.2
74
55
19
Loans in Urban Low-Income Communities
Loans in Underserved Communities
Loans Creating Affordable Housing
Impact: Mainstreaming Financial Mastery It is all about taking control of your finances, making smart choices, and paving the way for a secure and prosperous future. It is not just about managing your money; it is about unlocking your full potential and achieving your dreams. To reach that goal our Financial Mastery Program has evolved based on the requests of the community and we make this information widely available free of cost. www.poncebank.com
Series Created at Community Request:
• $mall Business Bootcamp; Series I, II & III • Non-Profit Grassroots Program • First Time Homebuyers Program • Protecting Your Legacy
Financial Mastery
2024
65 Loans $38,163,265 In Lending
2,794 Attendees
162 Sessions
First-Time Homebuyers
*Grant funds provided through Federal Home Loan Bank of New York Homebuyer Dream Program.
Non Profit Grassroots Program
Non - Profits in our community focus on the needs of our neighbors every day . By delivering exceptional service and products that meet non - profits ’ unique needs we help them grow and better serve their missions . In Oct . 2024 we initiated the Non - Profit Grassroots Program with sessions from Strategic Partnerships and Basic Financial Statements for Non - Profits to Key Steps for Building a Nonprofit Board and Becoming Grant Ready .
85 organizations participated .
Cultural Events
Economic Development
Education
healthcare
Seniors
Social Services
Youth
Housing
Bronx
Brooklyn
Essex
Housing 4 %
Cultural Events 9 %
Manhattan
Queens
Bronx 19%
Youth 20 %
Queens 30%
Education 27 %
Brooklyn 22%
Essex 1%
Social Services 32 %
Seniors 2 %
Manhattan 28%
Organizations Served by Focus Area
Organizations Served by County
“Go Fast Alone. Go Far Together.”
Organizations Served by Size
We Invest in Our Communities
Making an impact is about more than providing financial services. We give directly to our community through sponsorship of community based organizations providing a different, but dearly needed, type of service to the communities we love; we give of our time through staff volunteering; and we contribute to the future success of our community through academic scholarships.
150
36
$536,000 229 Sponsorships
Volunteer Events
Volunteer Hours
$82,000 71 Scholarships
-Carlos Naudon, Ponce Bank President & CEO -Carlos Naudon, Ponce Bank President & CEO “In 2024 OCC found that “Ponce’s Community Development activities show excellent responsiveness to identified community needs” - Community Reinvestment Act (CRA) Performance Evaluation
ACE Programs: $25,000 for Expansion of Services for Low-Income, Independently Housed Ponce De Leon Foundation Affiliate of Ponce Bank 2024 Grantees
-Carlos Naudon, Ponce Bank President & CEO Individuals in Western Queens Project. Act Now Foundation, Inc .: $16,000 for the Alzheimer’s Care Project . ALD Alliance: $11,000 for the New York ALD Outreach Project. Behind the Book: $20,000 for Strengthening Literacy in NYC Schools and Communities Program. Bronx River Alliance, Inc: $25,000 for Youth Development through Experiential Bronx River Natural and Historical Education Program. Center for Supportive Schools: $30,000 for Supporting Youth Development at the President Barack Obama Community School/PS 34 Program. Creative Art Works: $15,000 for Public Art Youth Employment Programs. Daniel’s Music Foundation: $20,000 for DMF Group Classes Program. Elmcor Youth & Adult Activities, Inc: $25,000 for the Case Management Services for Odler Adults in Supportive Housing Program. Family Legal Care: $20,000 for Family Law Education Program. Fresh Youth Initiatives, Inc.: $25,000 for Middle School JOURNEYS: Mental Health and Wellness Program. Girls Incorporated of New York City: $25,000 for the Project Accelerate. Giving Alternative Learners Uplifting Opportunities Inc.: $25,000 for Therapeutic Horseback Riding Lesson Scholarships for Children and Youth with Disabilities Program. Homecrest Community Services Inc.: $25,000 for the HCS Arts and Cultural Program.
Ponce De Leon Foundation
Affiliate of Ponce Bank
Leap, Inc. dba Brooklyn Workforce Innovations: $30,000 for Affordable Housing Career Training program. Little Sisters of the Assumption Family Health Service: $25,000 for the Expanded Case Management Services Program. New York City Housing Partnership: $25,000 for the Homeownership Counseling and Education Program. Neighborhood Housing Services of Brooklyn, CDC, Inc.: $25,000 for the Homeownership Preservation Initiative. New Settlement: $25,000 for New Settlement Program for Girls and Young Women. New York LGBT Network, Inc: $15,000 for the Safe Schools Initiative LGBT Anti-Bullying Program. Nonprofit New York: $25,000 for the Strengthening Nonprofits in New York Program. Part of the Solution (POTS): $25,000 for the ESOL Support Program. Queens Community House: $30,000 for the Access for Young Women Program. Restore: $25,000 for the Housing for Survivors of Trafficking Program. South Bronx United: $25,000 for the SBU Employment Fellowship Program. The HOPE Program: $25,000 for the Digital Literacy Training for Low-Income Jobseekers program. Theatre for New Audience: $15,000 for the Theatre for a New Audience's 2023-2024 Arts in Education Programs. 2024 Grantees, continued
-Carlos Naudon, Ponce Bank President & CEO
Branch Locations
Mortgage Origination Locations
The Bronx Southern Blvd 980 Southern Boulevard Bronx, NY 10459
Queens Jackson Heights 37-60 82nd Street Jackson Heights, NY 11372
Jackson Heights 37-60 82nd Street. 3rd Floor Jackson heights. NY 11372 Brooklyn Office 2 612 East loth street Brooklyn, NY 11235 Flushing Office 135-14 Northern Boulevard Flushing NY 11354 NJ Office 142 South Washington Avenue Bergentield, NJ 0/621 Jamaica Office 1189-10 Hillside Avenue Suite E Hollis, NY 11423
170th Street 51 East 170th Street Bronx, NY 10452
Astoria 34-05 Broadway Astoria, NY 11106
Westchester Avenue 2244 Westchester Ave Bronx, NY 10462
Forest Hills 100-20 Queens Boulevard Forest Hills, NY 11375
Riverdale 5560 Broadway Bronx, NY 10463
Brooklyn Smith Street 169 Smith Street Brooklyn, NY 11201 Flatlands 1900 Ralph Ave Brooklyn, NY 11234 Bensonhurst 2047 86th Street Brooklyn, NY 11214
3
Manhattan 106th Street 207 East 106th Street New York, NY 10029 Stuyvesant Town 319 1st Ave New York, NY 10003 New Jersey Union City 3821 Bergenline Ave Union City, NJ 07087
Representitive Office 1600 Ponce De Leon Drive coral Gables, Florida 33134
Scan or visit poncebankcom to learn more
Scan or visit poncebankcom to learn more
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