Ponce Financial Group, Inc. (Nasdaq: PDLB), the holding company for Ponce Bank, National Association, reported its financial results for the third quarter ended September 30, 2026. The company announced net income of $18.2 million for the three months ended September 30, 2026, which increased by $9.8 million, or 114.82%, compared to the prior quarter. Net income available to common stockholders was $18.0 million, or $0.76 per diluted share, compared to $8.2 million, or $0.35 per diluted share, in the prior quarter.
For the nine months ended September 30, 2026, net income was $35.4 million, an increase of $16.8 million, or 90.48%, compared to $18.6 million for the same period in 2025. Net income available to common stockholders for the nine months was $34.5 million, or $1.47 per diluted share, compared to $17.7 million, or $0.77 per diluted share, in 2025.
Net interest income for the third quarter of 2026 was $34.0 million, an increase of $3.9 million, or 13.07%, from the prior quarter and an increase of $8.7 million, or 34.62%, from the same quarter last year. The company reported a net interest margin of 3.86% for the third quarter of 2026, compared to 3.66% in the prior quarter and 3.30% in the prior year.
Non-interest income for the third quarter of 2026 was $0.9 million, a decrease of $0.7 million, or 44.34%, from the prior quarter. The decrease was largely attributed to a $1.2 million loss on the real property move, partially offset by a $0.4 million gain from investments in Oaktree and Silvergate funds. Non-interest expense for the third quarter was $19.2 million, an increase of $1.1 million, or 6.07%, from the prior quarter.
As of September 30, 2026, the company reported cash and equivalents of $132.2 million, securities totaling $320.7 million, net loans receivable of $3.08 billion, and deposits of $2.37 billion. The company’s book value per share stood at $14.60, representing a $1.90 increase over the last twelve months. Non-performing assets decreased during the quarter to 50 basis points of total assets.
The company noted that the quarter included certain unusual, non-recurring items. Specifically, the benefit for income taxes included the release of a $10.5 million valuation allowance against deferred tax assets. The company also stated that it is actively collaborating with the U.S. Department of the Treasury to finalize the repurchase of Preferred Stock, following confirmation that the company met the deep impact lending threshold required for the repurchase.
