Ponce Financial closes $225M preferred stock issuance to U.S. Treasury under ECIP

Ponce Financial Group, Inc.

Issued 225,000 shares of Senior Non-Cumulative Perpetual Preferred Stock, Series A, to Treasury for $225M.
Initial dividend rate 0% for first two years; thereafter floor 0.50%, ceiling 2.00% based on qualified lending.
Preferred stock redeemable at Company's option on/after June 15, 2027, subject to regulatory approval.
Proceeds to expand lending to small businesses and underserved communities impacted by COVID-19.
CEO says investment will be 'transformative' for Ponce Bank's communities.

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