Ponce Bank Was Accepted Into The Department Of The Treasury, Bureau Of Fiscal Service, Minority Bank Deposit Program

Author: Benzinga Newsdesk | November 20, 2023 05:29pm

Ponce Financial Group, Inc., (the "Company") (NASDAQ:PDLB), the holding company for Ponce Bank (the "Bank"), today announced that Ponce Bank was accepted into the Department of the Treasury, Bureau of Fiscal Service, Minority Bank Deposit Program.

 

As a participating bank, the Bank will have the opportunity to receive exposure, technical training and networking with the goal to:

• become eligible for the Treasury Bank Mentor-Protégé program
• expand capacity and accelerate growth
• develop expertise in working with the Department of the Treasury
• participate as a depositary or financial agent at the federal, state or local government level

President and Chief Executive Officer's Comments:

Carlos P. Naudon, Ponce Financial Group's President and CEO, stated "We are excited about being accepted into the Department of the Treasury, Bureau of Fiscal Service, Minority Bank Deposit Program and look forward to fully engaging with the Program to strengthen and preserve our mission as a Minority Depository Institution and a Community Development Financial Institution."

Posted In: PDLB