Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Schedule of Operations and Total Assets of Operating Segments

The following tables set forth condensed consolidated statements of operations and total assets for the operating segments for the three and nine months ended September 30, 2022 and 2021, respectively:

	For the Three Months Ended September 30, 2022
	Ponce Bank			Mortgage World			Ponce Financial Group, Inc.			Eliminations			Consolidated
	(in thousands)
Interest and dividend income	$	21,559		$	75		$	62		$	(62	)	$	21,634
Interest expense		4,073			12			—			(62	)		4,023
Net interest income		17,486			63			62			—			17,611
Provision for loan losses		9,330			—			—			—			9,330
Net interest income after provision for loan losses		8,156			63			62			—			8,281
Non-interest income		896			937			—			(256	)		1,577
Non-interest expense		21,866			1,841			1,835			(126	)		25,416
(Loss) income before income taxes		(12,814	)		(841	)		(1,773	)		(130	)		(15,558	)
(Benefit) provision for income taxes		(2,351	)		—			1,531			—			(820	)
Equity in undistributed earnings of Ponce Bank		—			—			(11,304	)		11,304			—
Net (loss) income	$	(10,463	)	$	(841	)	$	(14,608	)	$	11,174		$	(14,738	)

	For the Three Months Ended September 30, 2021
	Ponce Bank		Mortgage World			Ponce Financial Group, Inc.			Eliminations			Consolidated
	(in thousands)
Interest and dividend income	$	17,333	$	92		$	41		$	(41	)	$	17,425
Interest expense		1,954		72			—			(41	)		1,985
Net interest income		15,379		20			41			—			15,440
Provision for loan losses		572		—			—			—			572
Net interest income after provision for loan losses		14,807		20			41			—			14,868
Non-interest income		1,422		2,081			—			(269	)		3,234
Non-interest expense		12,133		2,039			827			(267	)		14,732
Income (loss) before income taxes		4,096		62			(786	)		(2	)		3,370
Provision (benefit) for income taxes		867		(24	)		475			—			1,318
Equity in undistributed earnings of Ponce Bank		—		—			3,315			(3,315	)		—
Net income (loss)	$	3,229	$	86		$	2,054		$	(3,317	)	$	2,052

	For the Nine Months Ended September 30, 2022
	Ponce Bank			Mortgage World			Ponce Financial Group, Inc.			Eliminations			Consolidated
	(in thousands)
Interest and dividend income	$	57,519		$	300		$	230		$	(230	)	$	57,819
Interest expense		7,519			93			—			(230	)		7,382
Net interest income		50,000			207			230			—			50,437
Provision for loan losses		11,405			—			—			—			11,405
Net interest income after provision for loan losses		38,595			207			230			—			39,032
Non-interest income		3,238			3,252			—			(508	)		5,982
Non-interest expense		55,358			6,003			9,074			(378	)		70,057
(Loss) income before income taxes		(13,525	)		(2,544	)		(8,844	)		(130	)		(25,043	)
(Benefit) provision for income taxes		(2,432	)		—			(1,824	)		—			(4,256	)
Equity in undistributed earnings of Ponce Bank		—			—			(13,637	)		13,637			—
Net (loss) income	$	(11,093	)	$	(2,544	)	$	(20,657	)	$	13,507		$	(20,787	)
Total assets at September 30, 2022	$	2,144,727		$	5,550		$	500,683		$	(492,679	)	$	2,158,281
Total assets at December 31, 2021	$	1,630,031		$	20,096		$	312,137		$	(308,754	)	$	1,653,510

	For the Nine Months Ended September 30, 2021
	Ponce Bank		Mortgage World		Ponce Financial Group, Inc.			Eliminations			Consolidated
	(in thousands)
Interest and dividend income	$	48,122	$	324	$	122		$	(122	)	$	48,446
Interest expense		6,220		284		—			(122	)		6,382
Net interest income		41,902		40		122			—			42,064
Provision for loan losses		1,844		—		—			—			1,844
Net interest income after provision for loan losses		40,058		40		122			—			40,220
Non-interest income		9,193		7,081		—			(806	)		15,468
Non-interest expense		32,742		6,840		2,512			(806	)		41,288
Income (loss) before income taxes		16,509		281		(2,390	)		—			14,400
Provision (benefit) for income taxes		3,717		74		173			—			3,964
Equity in undistributed earnings of Ponce Bank		—		—		12,999			(12,999	)		—
Net income (loss)	$	12,792	$	207	$	10,436		$	(12,999	)	$	10,436