Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Consolidated Statements of Financial Condition

The following are the condensed financial statements of the Parent as of and for the years ended December 31, 2021 and 2020.

	December 31,
ASSETS	2021		2020
	(in thousands)
Cash and cash equivalents	$	124,867	$	3,770
Investment in Ponce Bank		169,797		141,985
Investment in Mortgage World		5,406		5,297
Investment in Grain		1,000		500
Loan receivable - ESOP		4,455		5,469
Other assets		6,612		2,790
Total assets	$	312,137	$	159,811
LIABILITIES AND STOCKHOLDERS' EQUITY
Funds due to Ponce Financial	$	122,000	$	—
Other liabilities and accrued expenses		881		267
Stockholders' equity		189,256		159,544
Total liabilities and stockholders' equity	$	312,137	$	159,811

Schedule of Condensed Consolidated Statements of Income (Loss)

	For the Years Ended December 31,
	2021			2020
	(in thousands)
Interest on ESOP loan	$	142		$	153
Interest on other deposits		16			86
Net interest income		158			239
Share-based compensation expense		1,405			1,403
Management fee expense		514			514
Office occupancy and equipment		58			55
Professional fees		1,240			1,625
Other noninterest expenses		72			67
Total noninterest expense		3,289			3,664
Loss before income taxes		(3,131	)		(3,425	)
Benefit for income taxes		(381	)		(659	)
Equity in undistributed earnings of Ponce Bank and Mortgage World		28,165			6,619
Net income	$	25,415		$	3,853

Schedule of Condensed Consolidated Statements of Cash Flows

	For the Years Ended December 31,
	2021			2020
	(in thousands)
Cash Flows from Operating Activities:
Net income	$	25,415		$	3,853
Adjustments to reconcile net income to net cash used in operating  activities:
Equity in undistributed earnings of subsidiaries		(28,165	)		(6,619	)
Deferred income tax		(1,381	)		(659	)
Share-based compensation expense		1,405			1,403
Decrease (increase) in other assets		(2,193	)		913
Net increase (decrease) in other liabilities		366			(840	)
Net cash used in operating activities		(4,553	)		(1,949	)
Cash Flows from Investing Activities:
Investment in Mortgage World		—			(3,464	)
Investment in Grain		(500	)		(500	)
Loan to Foundation		—			606
Repayment of ESOP Loan		1,014			425
Net cash provided by (used in) investing activities		514			(2,933	)
Cash Flows from Financing Activities:
Funds due to Ponce Financial		122,000			—
Repurchase of treasury shares		(1,607	)		—
Proceeds from the sale of treasury stock		4,743			(4,711	)
Net cash provided by (used in) financing activities		125,136			(4,711	)
Net increase (decrease) in cash and cash equivalents		121,097			(9,593	)
Cash and cash equivalents at beginning of year		3,770			13,363
Cash and cash equivalents at end of year	$	124,867		$	3,770