Ponce Bank receives $35M in deposits from NY Banking Development District Program

Ponce Financial Group, Inc.

Westchester Avenue branch approved as BDD covering Bronx Community District 9 (Soundview, Parkchester, Castle Hill).
Received $35 million in BDD program deposits on July 30, 2024.
Applied for NYC BDD program; potential additional $20 million in subsidized deposits if approved.
Bank plans to expand affordable financial services and financial education in the community.

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