Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2017

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule of Consolidated Statements of Financial Condition

The following are the financial statements of the Parent as of and for the year ended December 31, 2017. The Parent was established as of September 29, 2017, therefore prior period financial information is not available.

ASSETS	December 31, 2017
Cash and cash equivalents	$	32,060
Investment in Ponce Bank		39,272
Loan receivable - ESOP		6,712
Other assets		1,349
Total assets	$	79,393
LIABILITIES AND STOCKHOLDERS' EQUITY
Other liabilities and accrued expenses		62
Stockholders' Equity		79,331
Total liabilities and stockholders' equity	$	79,393

Schedule of Consolidated Statements of Income (Loss)

	For the Year Ended
	December 31, 2017
Interest on ESOP loan	$	53
Contribution to Ponce De Leon Foundation		6,293
Income before income tax (benefit)		(6,240	)
Income tax (benefit)		(1,287	)
Equity in undistributed earnings of Ponce Bank		1,523
Net income (loss)	$	(3,430	)

Note 16. Parent Company Only Financial Statements (Continued)

Schedule of Consolidated Statements of Cash Flows

	For the Year Ended
	December 31, 2017
Cash Flows from Operating Activities:
Net income (loss)	$	(3,430	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity in undistributed earnings of subsidiaries		(1,523	)
Contribution to Ponce De Leon Foundation		6,093
Deferred tax expense		(1,261	)
Net decrease (increase) in accrued interest receivable		—
Increase in other assets		(88	)
Net increase in other liabilities		62
Net cash used in operating activities		(147	)
Cash Flows from Investing Activities:
Investment in Ponce Bank		(39,272	)
Repayment of ESOP Loan		526
Net cash used in investing activities		(38,746	)
Cash Flows from Financing Activities:
Issuance of common stock		78,191
Purchase of shares by ESOP		(7,238	)
Net cash provided by financing activities		70,953
Net increase in cash and cash equivalents		32,060
Cash  and cash equivalents at beginning of year		—
Cash and cash equivalents at end of year	$	32,060