Ponce Financial reports 19% asset growth in 2023; shareholders vote against exec comp

Ponce Financial Group, Inc.

Say-on-pay: 9.5M votes against (55% of votes cast); Compensation Committee to address concerns.
Total assets grew 19%, loans up 26%, deposits up 20% in 2023; net loan CAGR 14.8% over 5 years.
Repurchased 1.235M shares at ~20% discount to year-end book value of $11.20; book value up 4%.
Capital ratio 23.3% (twice highest well-capitalized threshold); ranked 5th in ECIP deep-impact lending.
Received $4.28M in grants; added to Russell 3000 in 2023; liquidity + FHLB capacity = $778.8M.

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