---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-075394"
form_type: "8-K"
ticker: "PDLB"
cik: "0001874071"
company_name: "Ponce Financial Group, Inc."
filed_at: "2024-06-20T23:59:59+00:00"
generated_at: "2026-06-01T03:42:54.202730+00:00"
event_type: "regulatory"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ponce Bank meets ECIP lending targets, cuts preferred dividend rate to 0.5% saving $3.375M

## Summary
- Qualified lending under ECIP totaled $1.162 billion from June 8, 2023 to March 31, 2024.
- Preferred stock dividend rate reduced from 2.0% to 0.50% for quarterly dividends through June 2025.
- Annualized savings of $3.375 million on $225 million preferred stock issued to U.S. Treasury.
- Milestone achieved in first reporting period; $717.73M Qualified plus $445.08M Deep Impact Lending (double credit).
- Ponce Bank ranked top 3% in low/moderate-income lending and top 5% in lending to minority borrowers in its area.

## SEC filing metadata
- accession: 0000950170-24-075394
- form_type: 8-K
- ticker: PDLB
- cik: 0001874071
- company_name: Ponce Financial Group, Inc.
- filed_at: 2024-06-20T23:59:59+00:00
- event_type: regulatory
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1874071/000095017024075394/0000950170-24-075394-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1874071/000095017024075394/pdlb-20240620.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-075394
- JSON: https://secwatch.observer/filing/0000950170-24-075394.json
- Plain text: https://secwatch.observer/filing/0000950170-24-075394.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.