PDL Community Bancorp, Ponce Bank and Ponce Bank Mutual Holding Company Announce Executive Changes
January 30, 2019 at 08:09 pm
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On January 24, 2019, the Board of Directors of PDL Community Bancorp Inc. elected Maria Alvarez to serve as director of the Company, filling a vacancy on the board. On the same date the Boards of Directors of Ponce Bank Mutual Holding Company and Ponce Bank also elected Ms. Alvarez to serve on their boards as well, filling vacancies on those boards. Ms. Alvarez will serve until the Company's annual meeting of shareholders in 2019, at which time it is contemplated that she will be a nominee for election to a three-year term. Ms. Alvarez will also be appointed to the Audit Committee, Compensation Committee and Nominating Committee of the Company's Board of Directors. Ms. Alvarez currently serves as a Board member of the Ponce de Leon Foundation. Ms. Alvarez is the Executive Director of the New York StateWide Senior Action Council Inc. and Brooklyn-wide Interagency Council on Aging.
Ponce Financial Group, Inc. is the holding company of Ponce Bank (the Bank), a federally chartered stock savings association. It operates through the administrative office and 13 full-service banking offices and five mortgage loan offices. The Bank's business primarily consists of taking deposits from the general public and investing those deposits, together with funds generated from operations and borrowings, in mortgage loans, consisting of one-to-four family residential (both investor-owned and owner-occupied), multifamily residential, nonresidential properties and construction and land, and, to a lesser extent, in business and consumer loans. The Bank also invests in securities, corporate securities, mortgage-backed securities and Federal Home Loan Bank of New York stock. The Bank offers a variety of deposit accounts, including demand, savings, money markets and certificates of deposit accounts. The Companyâs primary market area consists of the New York City metropolitan area.
PONCE FINANCIAL GROUP, INC. 
