NEW YORK, Sept. 30, 2024 (GLOBE NEWSWIRE) — Ponce Financial Group, Inc., (NASDAQ: PDLB), the holding company for Ponce Bank, today announced the opening of their first-ever representative office in the state of Florida. Aptly located upon their namesake 1600 Ponce de Leon Drive in the Miami suburb of Coral Gables, this new office is home to Customer Relationship Officer Juan (“Jay”) Sanchez who will split time between the new location and his former Bergen County, New Jersey territory.
President and CEO of Ponce Bank Carlos Naudon said, “A presence in South Florida makes perfect sense. Many of our customers have businesses in Florida or spend their winter months here, and the large Hispanic community perfectly fits one of our primary demographics. Our recently implemented digital platform, PonceBank+Direct℠, combined with the talent of Mr. Sanchez who has a deep network among small business owners, makes it possible for us to offer a wide range of services in support of our dual-state clientele.”
Jay Sanchez has built a reputation in New Jersey servicing small business customers, especially in the retail grocery field, and he’s excited about this opportunity to expand the footprint of his highly sought after customer service. According to Mr. Sanchez, “My customers, many of whom have businesses in both New Jersey and Florida, kept asking me why we don’t open an office down here. After serious internal discussion, we confirmed the tremendous synergy and opportunity there was for Ponce Bank throughout the state. When we found this location, on Ponce de Leon Blvd no less, we knew that the time was ripe for us to begin exploring the many opportunities that Miami and the surrounding area provides.”
The Ponce Bank Representative Office in Coral Gables will initially provide access to commercial lending, mortgages, and small-business banking, by taking advantage of PonceBank+Direct℠ which provides online banking, SBA Lending, and online account opening, via a convenient online and mobile app interface. “Combining our new digital platform with the hands-on service for which Mr. Sanchez is known, it’s just a matter of time before we see Ponce Bank firmly established in the Miami area and beyond,” said COO Luis Gonzalez.
Jay Sanchez can be reached at juan.sanchez@poncebank.net and 917-698-5378.
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.
