Ponce Financial Group, Inc. announces that it was added to the Russell 3000 Index

NEW YORK, June 28, 2023 (GLOBE NEWSWIRE) -- Ponce Financial Group, Inc. (the “Company”) (NASDAQ:PDLB), a minority managed institution and a Community Development Financial Institution serving the New York City area since 1960, today announced it was added to the Russell 3000 Index, effective after the U.S. market closed on June 23, 2023, as part of the 2023 Russell indexes reconstitution. Based upon its membership in the Russell 3000 Index, the Company will also become a member of the small-cap Russell 2000 Index.

Carlos P. Naudon, President and CEO of Ponce Financial Group, Inc., commented, “It is an honor to rejoin the Russell indexes which we trust will increase the exposure of, and liquidity in our stock. We look forward to our continued pursuit of our long-term strategic plan, and enhancing the awareness of our company as an attractive mission-driven investment.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000 and the Russell indexes reconstitution, go to the FTSE Russell website.

About Ponce Financial Group, Inc.

Ponce Financial Group, Inc. is the holding company for Ponce Bank. Ponce Bank is a Minority Depository Institution, a Community Development Financial Institution, and a certified Small Business Administration lender. Ponce Bank’s business primarily consists of taking deposits from the general public and to a lesser extent alternative funding sources and investing those funds, together with funds generated from operations and borrowings, in mortgage loans, consisting of 1-4 family residences (investor-owned and owner-occupied), multifamily residences, nonresidential properties, construction and land, and, to a lesser extent, in business and consumer loans. Ponce Bank also invests in securities, which consist of U.S. Government and federal agency securities and securities issued by government-sponsored or government-owned enterprises, as well as, mortgage-backed securities, corporate bonds and obligations, and Federal Home Loan Bank stock.