Ponce Financial (PDLB) 10-Q 9 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 08, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Trading Symbol	PDLB
Entity Registrant Name	Ponce Financial Group, Inc.
Entity Current Reporting Status	Yes
Entity Central Index Key	0001874071
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		23,653,600
Entity File Number	001-41255
Entity Tax Identification Number	87-1893965
Entity Address, Address Line One	2244 Westchester Avenue
Entity Address, City or Town	Bronx
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10462
City Area Code	718
Local Phone Number	931-9000
Title of 12(b) Security	Common stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	NY
Document Transition Report	false
Document Quarterly Report	true

Consolidated Statements of Fina

Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Cash and due from banks:
Cash	[1]	$ 26,046	$ 31,977
Interest-bearing deposits	[1]	90,966	22,383
Total cash and cash equivalents		117,012	54,360
Available-for-sale securities, at fair value (Note 3)		116,753	129,505
Held-to-maturity securities, net of allowance for credit losses of $647 at September 30, 2023 and $0 at December 31, 2022; at amortized cost (fair value 2023 $444,864; 2022 $495,851) (Note 3)		471,065	510,820
Placements with banks		996	1,494
Mortgage loans held for sale, at fair value (Note 4)		14,103	1,979
Loans receivable, net of allowance for credit losses of $27,414 at September 30, 2023 and $34,592 at December 31, 2022 (Note 5)		1,787,607	1,493,127
Accrued interest receivable		16,624	15,049
Premises and equipment, net (Note 6)		16,453	17,446
Right of use assets (Note 7)		32,110	33,423
Federal Home Loan Bank of New York (FHLBNY) stock, at cost		18,870	24,661
Deferred tax assets (Note 10)		15,984	16,137
Other assets		16,286	13,988
Total assets		2,623,863	2,311,989
Liabilities:
Deposits (Note 8)		1,401,132	1,252,412
Operating lease liabilities		33,459	34,532
Accrued interest payable		8,385	1,390
Advance payments by borrowers for taxes and insurance		13,743	9,724
Borrowings (Note 9)		675,100	517,375
Other liabilities		6,986	3,856
Total liabilities		2,138,805	1,819,289
Commitments and contingencies (Note 13)
Stockholders' Equity:
Preferred stock, $0.01 par value; 100,000,000 shares authorized, 225,000 shares issued and outstanding as of September 30, 2023 and as of December 31, 2022.		225,000	225,000
Common stock, $0.01 par value; 200,000,000 shares authorized; 24,886,711 shares issued and 23,653,600 shares outstanding as of September 30, 2023 and 24,861,329 shares issued and 24,859,353 shares outstanding as of December 31, 2022		249	249
Treasury stock, at cost; 1,233,111 shares as of September 30, 2023 and 1,976 shares as of December 31, 2022 (Note 11)		(10,975)	(2)
Additional paid-in-capital		207,626	206,508
Retained earnings		96,902	92,955
Accumulated other comprehensive loss (Note 16)		(20,468)	(17,860)
Unearned compensation -ESOP; 1,469,167 shares as of September 30, 2023 and 1,569,475 shares as of December 31, 2022 (Note 11)		(13,276)	(14,150)
Total stockholders' equity		485,058	492,700
Total liabilities and stockholders' equity		$ 2,623,863	$ 2,311,989
[1] A s of December 31, 2022, $ 2.1 million of Federal Reserve Bank ("FRB") cash were reclassified from Cash to Interest-bearing deposits.

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Held-to-maturity securities, at fair value		$ 444,864	$ 495,851
Held-to-maturity securities, allowance for credit losses		647	0
Loans receivable, allowance for loan losses		$ 27,414	$ 34,592
Preferred stock, par value		$ 0.01	$ 0.01
Preferred stock, shares authorized		100,000,000	100,000,000
Preferred stock, shares issued		225,000	225,000
Preferred stock, shares outstanding		225,000	225,000
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares authorized		200,000,000	200,000,000
Common stock, shares, issued		24,886,711	24,861,329
Common stock, shares, outstanding		23,653,600	24,859,353
Treasury stock,repurchased		1,233,111	1,976
Unearned compensation, ESOP shares		1,469,167	1,569,475
Interest-bearing deposits	[1]	$ 90,966	$ 22,383
FRB
Interest-bearing deposits			$ 2,100
[1] A s of December 31, 2022, $ 2.1 million of Federal Reserve Bank ("FRB") cash were reclassified from Cash to Interest-bearing deposits.

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest and dividend income:
Interest on loans receivable		$ 25,276	$ 17,058	$ 67,991	$ 51,315
Interest on deposits due from banks		1,969	346	3,983	514
Interest and dividend on securities and FHLBNY stock		6,261	4,230	18,943	5,990
Total interest and dividend income		33,506	21,634	90,917	57,819
Interest expense:
Interest on certificates of deposit	[1]	4,362	855	11,468	2,361
Interest on other deposits	[1]	5,639	1,375	12,864	2,154
Interest on borrowings		6,963	1,793	18,516	2,867
Total interest expense		16,964	4,023	42,848	7,382
Net interest income		16,542	17,611	48,069	50,437
Provision for credit losses (Note 3) (Note 5)		535	9,330	1,348	11,405
Net interest income after provision for credit losses		16,007	8,281	46,721	39,032
Non-interest income:
Service charges and fees		516	464	1,488	1,349
Brokerage commissions		17	288	67	840
Late and prepayment charges		899	109	2,000	360
Income on sale of mortgage loans		173	116	354	734
Loan origination			522		1,843
Grant income		3,718		3,718
Loss on sale of premises and equipment			(436)		(436)
Other		304	514	1,311	1,292
Total non-interest income		5,627	1,577	8,938	5,982
Non-interest expense:
Compensation and benefits		7,566	7,377	22,437	21,413
Occupancy and equipment		3,588	3,611	10,882	10,040
Data processing expenses		1,582	994	3,982	2,665
Direct loan expenses		369	654	1,126	2,033
Provision for contingencies		391	519	1,893	566
Insurance and surety bond premiums		255	297	768	600
Office supplies, telephone and postage		301	369	1,189	1,180
Professional fees		1,693	1,251	5,052	4,333
Contribution to the Ponce De Leon Foundation (Note 2)					4,995
Grain (recoveries) write-off (Note 5)		(69)	8,881	(1,329)	18,455
Marketing and promotional expenses		248	214	679	337
Directors' fees and regulatory assessment		169	188	484	509
Other operating expenses		1,223	1,061	3,603	2,931
Total non-interest expense		17,316	25,416	50,766	70,057
Income (loss) before income taxes		4,318	(15,558)	4,893	(25,043)
Provision (benefit) for income taxes (Note 10)		1,728	(820)	2,059	(4,256)
Net income (loss)		$ 2,590	$ (14,738)	$ 2,834	$ (20,787)
Earnings (loss) per common share (Note 12):
Basic		$ 0.12	$ (0.64)	$ 0.12	$ (0.92)
Diluted		$ 0.12	$ (0.64)	$ 0.12	$ (0.92)
Weighted average common shares outstanding (Note 12):
Basic		22,272,076	23,094,859	22,920,680	22,524,477
Diluted		22,349,217	23,094,859	22,962,956	22,524,477
[1] For the three and nine months ended September 30, 2022, $ 0.2 million of interest expense were reclassified from Interest on other deposits to Interest on certificates of deposits.

Consolidated Statements of Op_2

Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Interest expense reclassified from Interest on other deposits to Interest on certificates of deposits	$ 0.2	$ 0.2

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,590	$ (14,738)	$ 2,834	$ (20,787)
Net change in unrealized losses on securities:
Unrealized losses	(3,644)	(4,194)	(3,364)	(21,493)
Income (tax) benefit effect	773	806	756	4,529
Total other comprehensive loss, net of tax	(2,871)	(3,388)	(2,608)	(16,964)
Total comprehensive (loss) income	$ (281)	$ (18,126)	$ 226	$ (37,751)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Treasury Stock, At Cost	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Unallocated Common Stock of ESOP
Balance at Dec. 31, 2021	$ 189,256		$ 185	$ (13,687)	$ 85,601	$ 122,956	$ (1,456)	$ (4,343)
Balance, Shares at Dec. 31, 2021			17,425,987
Net income (loss)	(6,820)					(6,820)
Other comprehensive income (loss), net of tax	(5,579)						(5,579)
Conversion and reorganization of PDL Community Bancorp	118,010		$ 58		117,952
Conversion and reorganization of PDL Community Bancorp, shares			5,788,972
Retirement of treasury stock			$ (11)	13,687	(13,676)
Purchase of shares by the Employee Stock Ownership Plan ("ESOP')			$ 11		10,963			(10,974)
Purchase of shares by the Employee Stock Ownership Plan ("ESOP'), shares			1,097,353
Issuance of shares to the Ponce De Leon Foundation	3,995		$ 4		3,991
Issuance of shares to the Ponce De Leon Foundation, shares			399,522
Release of restricted stock units, shares			12,440
ESOP shares committed to be released	366				61			305
Share-based compensation	351				351
Balance at Mar. 31, 2022	299,579		$ 247		205,243	116,136	(7,035)	(15,012)
Balance, Shares at Mar. 31, 2022			24,724,274
Balance at Dec. 31, 2021	189,256		$ 185	(13,687)	85,601	122,956	(1,456)	(4,343)
Balance, Shares at Dec. 31, 2021			17,425,987
Net income (loss)	(20,787)
Balance at Sep. 30, 2022	500,683	$ 225,000	$ 247		206,092	102,169	(18,420)	(14,405)
Balance, Shares at Sep. 30, 2022		225,000	24,728,460
Balance at Mar. 31, 2022	299,579		$ 247		205,243	116,136	(7,035)	(15,012)
Balance, Shares at Mar. 31, 2022			24,724,274
Net income (loss)	771					771
Other comprehensive income (loss), net of tax	(7,997)						(7,997)
Issuance of preferred shares	225,000	$ 225,000
Issuance of preferred shares, shares		225,000
ESOP shares committed to be released	324				21			303
Share-based compensation	405				405
Balance at Jun. 30, 2022	518,082	$ 225,000	$ 247		205,669	116,907	(15,032)	(14,709)
Balance, Shares at Jun. 30, 2022		225,000	24,724,274
Net income (loss)	(14,738)					(14,738)
Other comprehensive income (loss), net of tax	(3,388)						(3,388)
Release of restricted stock units, shares			4,186
ESOP shares committed to be released	322				18			304
Share-based compensation	405				405
Balance at Sep. 30, 2022	500,683	$ 225,000	$ 247		206,092	102,169	(18,420)	(14,405)
Balance, Shares at Sep. 30, 2022		225,000	24,728,460
Balance at Dec. 31, 2022	492,700	$ 225,000	$ 249	(2)	206,508	92,955	(17,860)	(14,150)
Balance, Shares at Dec. 31, 2022		225,000	24,859,353
Net income (loss)	331					331
Other comprehensive income (loss), net of tax	1,231						1,231
Impact of CECL adoption, net of tax	1,113					1,113
Release of restricted stock units, shares			4,147
ESOP shares committed to be released	262				(29)			291
Share-based compensation	404				404
Balance at Mar. 31, 2023	496,041	$ 225,000	$ 249	(2)	206,883	94,399	(16,629)	(13,859)
Balance, Shares at Mar. 31, 2023		225,000	24,863,500
Balance at Dec. 31, 2022	492,700	$ 225,000	$ 249	(2)	206,508	92,955	(17,860)	(14,150)
Balance, Shares at Dec. 31, 2022		225,000	24,859,353
Net income (loss)	$ 2,834
Repurchases of common stock, Shares	(1,235,000)
Balance at Sep. 30, 2023	$ 485,058	$ 225,000	$ 249	(10,975)	207,626	96,902	(20,468)	(13,276)
Balance, Shares at Sep. 30, 2023		225,000	23,653,600
Balance at Mar. 31, 2023	496,041	$ 225,000	$ 249	(2)	206,883	94,399	(16,629)	(13,859)
Balance, Shares at Mar. 31, 2023		225,000	24,863,500
Net income (loss)	(87)					(87)
Other comprehensive income (loss), net of tax	(968)						(968)
Repurchases of common stock	(5,200)			(5,200)
Repurchases of common stock, Shares			(615,948)
Release of restricted stock units, shares			21,235
ESOP shares committed to be released	292							292
Share-based compensation	404				404
Balance at Jun. 30, 2023	490,482	$ 225,000	$ 249	(5,202)	207,287	94,312	(17,597)	(13,567)
Balance, Shares at Jun. 30, 2023		225,000	24,268,787
Net income (loss)	2,590					2,590
Other comprehensive income (loss), net of tax	(2,871)						(2,871)
Repurchases of common stock	(5,809)			(5,809)
Repurchases of common stock, Shares			(619,052)
Release of restricted stock units				36	(36)
Release of restricted stock units, shares			3,865
ESOP shares committed to be released	261				(30)			291
Share-based compensation	405				405
Balance at Sep. 30, 2023	$ 485,058	$ 225,000	$ 249	$ (10,975)	$ 207,626	$ 96,902	$ (20,468)	$ (13,276)
Balance, Shares at Sep. 30, 2023		225,000	23,653,600

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - shares	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Number of ESOP shares committed to be released	(33,436)	(33,436)	(33,436)	(35,119)	(35,119)	(35,119)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Cash Flows From Operating Activities:
Net income (loss)	$ 2,590,000	$ 331,000	$ (14,738,000)	$ (6,820,000)	$ 2,834,000	$ (20,787,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization of premiums/discounts on securities, net					(90,000)	216,000
Gain on sale of loans					(277,000)	(7,000)
Gain on derivatives					0	(229,000)
Grain write-off					0	18,455,000
Provision for credit losses					1,348,000	11,405,000
Depreciation and amortization					3,249,000	1,371,000
ESOP compensation					815,000	1,038,000
Share-based compensation expense					1,213,000	1,161,000
Deferred income taxes					909,000	(5,473,000)
Changes in assets and liabilities:
(Increase) decrease in mortgage loans held for sale, fair value					(42,768,000)	12,479,000
Increase in accrued interest receivable					(1,575,000)	(1,701,000)
Increase in other assets					(2,298,000)	(7,064,000)
Increase in accrued interest payable					6,995,000	626,000
Decrease in operating lease liabilities					(1,646,000)	0
Increase in advance payments by borrowers					4,019,000	2,932,000
Increase (decrease) in other liabilities					1,825,000	(192,000)
Net cash (used in) provided by operating activities					(25,447,000)	14,230,000
Cash Flows From Investing Activities:
Proceeds from redemption of FHLBNY stock					241,818,000	135,291,000
Purchases of FHLBNY Stock					(236,037,000)	(143,562,000)
Purchases of available-for-sale securities					0	(58,385,000)
Purchases of held-to-maturity securities					0	(501,942,000)	$ (528,900,000)
Proceeds from maturities, calls and principal repayments on available-for-sale securities					48,586,000	26,798,000
Placements with banks					498,000	0
Proceeds from sales of loans					32,796,000	3,699,000
Net increase in loans					(294,628,000)	(102,572,000)
Purchases of premises and equipment					(370,000)	(433,000)
Net cash used in investing activities					(207,337,000)	(641,106,000)
Cash Flows From Financing Activities:
Net increase in deposits					148,720,000	146,473,000
Proceeds from issuance of preferred stock					0	225,000,000
Repurchase of treasury stock					(11,009,000)
Contribution to the Ponce De Leon Foundation					0	(1,000,000)
Net proceeds from borrowings					157,725,000	180,120,000
Net advances on warehouse lines of credit					0	(15,090,000)
Net cash provided by financing activities					295,436,000	535,503,000
Net increase (decrease) in cash and cash equivalents					62,652,000	(91,373,000)
Cash and Cash Equivalents:
Beginning		$ 54,360,000		$ 153,894,000	54,360,000	153,894,000	153,894,000
Ending	$ 117,012,000		$ 62,521,000		117,012,000	62,521,000	$ 54,360,000
Supplemental disclosures of cash flow information:
Cash paid for interest on deposits and borrowings					35,853,000	6,756,000
Cash paid for income taxes					$ 489,000	$ 624,000

Nature of Business and Summary

Nature of Business and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Summary of Significant Accounting Policies	Note 1. Nature of Business and Summa ry of Significant Accounting Policies Basis of Presentation and Consolidation: Ponce Financial Group, Inc. (hereafter referred to as “we,” “our,” “us,” “Ponce Financial Group, Inc.,” or the “Company”) is the holding company of Ponce Bank (“Ponce Bank” or the “Bank”), a federally chartered stock savings association. The Company’s Consolidated Financial Statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Consolidated Financial Statements include the accounts of the Company, its wholly-owned subsidiary Ponce Bank (the “Bank”) and the Bank’s wholly-owned subsidiary, Ponce De Leon Mortgage Corp., which is a mortgage banking entity. All significant intercompany transactions and balances have been eliminated in consolidation. Nature of Operations: The Company is a savings and loan holding company. The Company is subject to the regulation and examination by the Board of Governors of the Federal Reserve. The Company’s business is conducted through the administrative office and 13 full service banking and 6 mortgage loan offices. The banking offices are located in New York City – the Bronx ( 4 branches), Queens ( 3 branches), Brooklyn ( 3 branches), Manhattan ( 2 branches) and Union City ( 1 branch), New Jersey. The mortgage loan offices are located in Queens ( 4 ) and Brooklyn ( 1 ), New York and Bergenfield ( 1 ), New Jersey. The Company’s primary market area currently consists of the New York City metropolitan area. The Bank is a federally chartered stock savings association headquartered in the Bronx, New York. It was originally chartered in 1960 as a federally chartered mutual savings and loan association under the name Ponce De Leon Federal Savings and Loan Association. In 1985, the Bank changed its name to “Ponce De Leon Federal Savings Bank.” In 1997, the Bank changed its name again to “Ponce De Leon Federal Bank.” Upon the completion of its reorganization into a mutual holding company structure in September of 2017, the assets and liabilities of Ponce De Leon Federal Bank were transferred to and assumed by the Bank. The Bank is a Minority Depository Institution (“MDI”), a Community Development Financial Institution (“CDFI”), and a certified Small Business Administration (“SBA”) lender. The Bank is subject to comprehensive regulation and examination by the Office of Comptroller of the Currency (the “OCC”). 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, which have historically consisted of U.S. government and federal agency securities and securities issued by government-sponsored or owned enterprises, mortgage-backed securities and Federal Home Loan Bank of New York (the “FHLBNY”) stock. The Bank offers a variety of deposit accounts, including demand, savings, money markets and certificates of deposit accounts. Risks and Uncertainties: Inflation and interest rates may continue to adversely impact several industries within our geographic footprint and impair the ability of the Company’s customers to fulfill their contractual obligations to the Company. This could cause the Company to experience adverse effects on its business operations, loan portfolio, financial condition, and results of operations. During the nine months ended September 30, 2023, total interest expenses increased $ 35.5 million , or 480.4 % , to $ 42.8 million when compared to $ 7.4 million for the nine months ended September 30, 2022. Summary of Significant Accounting Policies: Use of Estimates : In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, as of the date of the consolidated statement of financial condition, and revenues and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, the valuation of loans held for sale, the valuation of deferred tax assets and investment securities and the estimates relating to the valuation for share-based awards. Interim Financial Statements : The interim consolidated financial statements at September 30, 2023, and for the three and nine months ended September 30, 2023 and 2022 are unaudited and reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The results of operations for the three and nine months ended September 30, 2023 , are not necessarily indicative of the results to be achieved for the remainder of the year ending December 31, 2023, or any other period. Significant Group Concentrations of Credit Risk : Most of the Bank's activities are with customers located within New York City. Accordingly, the ultimate collectability of a substantial portion of the Bank's loan portfolio and the ability of Mortgage World, a division of the Bank, to sell originated loans in the secondary markets are susceptible to changes in the local market conditions. Note 3 discusses the types of securities in which the Bank invests. Notes 5 and 13 discuss the types of lending that the Bank engages in, and other concentrations. Cash and Cash Equivalents : Cash and cash equivalents include cash on hand and amounts due from banks (including items in process of clearing). For purposes of reporting cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash flows from loans originated by the Company, interest-bearing deposits in financial institutions, and deposits are reported net. Included in cash and cash equivalents are restricted cash from escrows and good faith deposits. Escrows consist of U.S. Department of Housing and Urban Development (“HUD”) upfront mortgage insurance premiums and escrows on unsold mortgages that are held on behalf of borrowers. Good faith deposits consist of deposits received from commercial loan customers for use in various disbursements relating to the closing of a commercial loan. Securities : Management determines the appropriate classification of securities at the date individual investment securities are acquired, and the appropriateness of such classification is reassessed at each statement of financial condition date. Debt securities that management has the positive intent and ability to hold to maturity are classified as "held-to-maturity" and recorded at amortized cost. Trading securities, if any, are carried at fair value, with unrealized gains and losses recognized in earnings. Securities not classified as held-to-maturity or trading, are classified as "available-for-sale" and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss), net of tax. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Held-to maturity securities : Effective January 1, 2023, the Company adopted Accounting Standards Topic 326, "Financial Instruments - Credit Losses" which replaced the previously existing U.S. GAAP "incurred loss" approach to "expected credit losses" approach, which is referred as Current Expected Credit Losses ("CECL"). CECL modifies the accounting of impairment on held-for-sale debt securities by recognizing a credit loss through an allowance for credit losses. The Company methodology to measure the allowance for credit loss ("ACL") incorporates both quantitative and qualitative information to assess lifetime expected credit losses at the portfolio level. The quantitative component includes the calculation of loss rates using an open pool method. The Company differentiates its loss-rate method for a pool of held-to-maturity corporate securities by looking to publicly available historical default and recovery statistics based on the attributes of issuer type, rating category and time to maturity. The Company measures expected credit losses of these financial assets by applying loss rates to the amortized cost basis of each asset taking into consideration amortization, prepayment and default assumptions. The Company considers qualitative adjustments to expected credit losses for information not already captured in the loss estimation process. Qualitative factor adjustments may increase or decrease management's estimate of expected credit losses. Adjustments will not be made for information that has already been considered and included in the quantitative allowance. Available-for-sale securities : The impairment model for available-for-sale ("AFS") debt securities differs from the CECL approach utilized by held-to-maturity ("HTM") debt securities since AFS debt securities are measured at fair value rather than amortized cost. For AFS debt securities in an unrealized loss position, the Bank first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. On a quarterly basis, the Company evaluates the available-for-sale securities for impairment. Securities that are in an unrealized loss position are reviewed to determine if a securities credit loss exists based on certain quantitative and qualitative factors. The primary factors considered in evaluating whether an impairment exists include: (a) the extent to which the fair value is less than the amortized cost basis, (b) the financial condition, credit rating and future prospects of the issuer, (c) whether the debtor is current on contractually obligated interest and principal payments, and (d) whether the Company intends to sell the security and whether it is more likely than not the Company will not be required to sell the security. If a determination is made that a security is impaired, the Company will estimate the amount of the unrealized loss that is attributable to credit and all other non-credit related factors. The credit related component will be recognized as a securities credit loss as a provision expense through the establishment of an allowance for available for sale securities. The securities credit loss expense will be limited to the difference between the security's amortized cost basis and fair value and any future changes may be reversed, limited to the amount previously expensed in the period they occur. The non-credit related component will be recorded as an adjustment to accumulated other comprehensive income, net of tax. The evaluation of securities for impairment is a quantitative and qualitative process, which is subject to risks and uncertainties and is intended to determine whether declines in the estimated fair value of investments should be recognized in current period earnings. The risks and uncertainties include change in general economic conditions, the issuer's financial condition and/or future prospects, the effects of changes in interest rates or credit spreads, and the expected recovery period. See Note 3 ("Securities") of the Notes to the Consolidated Financial Statements. Federal Home Loan Bank of New York Stock : The Bank is a member of the FHLBNY. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLBNY stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income. Loans Receivable : Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at current unpaid principal balances, net of the allowance for credit losses on loans and including net deferred loan origination fees and costs. Interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the interest method without anticipating prepayments. A loan is moved to nonaccrual status in accordance with the Company’s policy typically after 90 days of non-payment. The accrual of interest on mortgage and commercial loans is generally discontinued at the time the loan becomes 90 days past due unless the loan is well-secured and in process of collection. Consumer loans are typically charged-off no later than 90 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual status or charged-off if collection of principal or interest is considered doubtful. All nonaccrual loans are considered impaired loans. All interest accrued but not received for loans placed on nonaccrual are reversed against interest income. Interest received on such loans is accounted for on the cash basis or recorded against principal balances, until qualifying for return to accrual. Cash basis interest recognition is only applied on nonaccrual loans with a sufficient collateral margin to ensure no doubt with respect to the collectability of principal. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and remain current for a period of time (typically six months) and future payments are reasonably assured. Accrued interest receivable is closely monitored for collectability and will be charged-off in a timely manner if deemed uncollectable. In the event that collection of principal becomes uncertain, the Company has policies in place to write-off accrued interest receivable by reversing interest income in a timely manner. Therefore, the Company has made a policy election to exclude accrued interest from the amortized cost basis and therefore excludes it from the measurement of the allowance for credit losses (“ACL”). Allowance for Credit Losses : The ACL on loans is management's estimate of expected credit losses over the expected life of the loans at the reporting date. The ACL on loans is increased through a provision for credit losses (“PCL”) recognized in the Consolidated Statements of Operations and by recoveries of amounts previously charged off. The ACL on loans is reduced by charge-offs on loans. Loan charge-offs are recognized when Management believes the collectability of the principal balance outstanding is unlikely. Full or partial charge-offs on collateral-dependent individually analyzed loans are generally recognized when the collateral is deemed to be insufficient to support the carrying value of the loan. According to ASC 326-20-30-9, estimating expected credit losses is highly judgmental and generally will require Ponce Bank to make specific judgments. One of these specific judgments around how Ponce Bank will make or obtain reasonable and supportable forecasts of expected credit losses. Ponce Bank uses Federal Open Market Committee to obtain various forecasts for unemployment rate, national gross domestic product and the National Consumer Price Index. Ponce Bank has elected to forecast the first four quarters of the credit loss estimate and revert to a long-run average of each considered economic factor as permitted in ASC 326-20-30-9. The level of the ACL on loans is based on Management's ongoing review of all relevant information, from internal and external sources, related to past events, current conditions and reasonable forecast. Historical credit loss experience provides the basis for calculation of probability of default, loss given default, exposure at default and the estimation of expected credit losses. As discussed further below, adjustments to historical information are made for differences in specific risk characteristics, such as differences in underwriting standards, portfolio mix, delinquency level, or term, as well as for changes in environmental conditions, that may not be reflected in historical loss rates. Management employs a process and methodology to estimate the ACL on loans that evaluates both quantitative and qualitative factors. Under ASC 326-20-30-2 and 326-20-55-5, Ponce Bank should aggregate financial assets on the basis of similar risk characteristics. Management selected a Call Code segmentation, as based on the Bank's call report. Management’s criteria for determining an appropriate segmentation (1) groups loans based on similar risk characteristics; (2) allows for mapping and utilization/application of publicly available external information (Call Report Filings); (3) allows for mapping and utilization/application of publicly available external information; (4) federal call code is granular enough to accommodate enough to accommodate a “like-kind” notion, yet broad enough to maintain statistical relevance and/or a meaningful number of loan observations within material segments and (5) federal call code designation is identifiable throughout historical data sets, which is critical component of segmentation selection. Quantitative loss factors are also supplemented by certain qualitative risk factors reflecting Management's view of how losses may vary from those represented by quantitative loss rates. These qualitative risk factors include: (1) changes in lending policies, procedures and strategies including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses; (2) economic conditions such as the Bank’s market area, customer demographics, portfolio composition, along with national indicators considered impactful to the model; (3) changes in the nature and volume of the portfolio; (4) credit and lending staff/administration; (5) problem with loan trends; (6) concentrations; (7) loan review results; (8) collateral values and regulatory and business environment. Because the methodology is based upon historical experience and trends, current economic data, reasonable and supportable forecasts, as well as Management's judgment, factors may arise that result in different estimations. Deteriorating conditions or assumptions could lead to further increases in the ACL on loans. The ACL on loans is determined by an estimate of future credit losses, and ultimate losses may vary from Management's estimate. Allowances for Credit Losses on Unfunded Commitments : The ACL on unfunded commitments is Management's estimate of expected credit losses over the expected credit losses over the expected contractual term (or life) in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditional cancellable by the Company. For each portfolio, estimated loss rates and funding factors are applied to the corresponding balance of unfunded commitments and the estimated loss rates applied to unfunded commitments are the same quantitative and qualitative loss rates applied to the corresponding on-balance sheet amounts in determining the ACL on loans. The estimated funding factor applied to unfunded commitments represents the likelihood that the funding will occur and is based upon the Company's average historical utilization rate each portfolio. The ACL on unfunded commitments in included in other liabilities in the Consolidated Statements of Financial Conditions. The ACL on unfunded commitments is adjusted through non-interest expense in the Consolidated Statements of Operations. Loans Held for Sale, at Fair Value : Loans held for sale, at fair value, include residential mortgages that were originated in accordance with secondary market pricing and underwriting standards. These loans are loans originated by the Bank’s Mortgage World division and the Company intends to sell these loans on the secondary market. Loans held for sale are carried at fair value under the fair value option accounting guidance for financial assets and financial liabilities. The gains or losses for the changes in fair value of these loans are included in income on sale of loans on the consolidated statements of operations. Interest income on mortgage loans held for sale measured under the fair value option is calculated based on the principal amount of the loan and is included in interest loans receivable on the consolidated statements of operations. At September 30, 2023 and at December 31, 2022 , 19 loans and 4 loans in the amount of $ 14.1 million and $ 2.0 million, respectively, were held for sale and accounted for under the fair value option accounting guidance for financial assets and financial liabilities. Revenue from Contracts with Customers: The Company’s revenue from contracts with customers in the scope of ASC 606, Revenue from Contract with Customers , is recognized within noninterest income. ASC 606 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. Management determined the revenue streams impacted by ASC 606 included those related to service charges on deposit accounts, ATM and card fees and other services fees. The Company’s revenue recognition pattern for these revenue streams did not change from current practice. The Company's primary sources of revenue are interest income on financial assets and income from mortgage banking activities, which are explicitly excluded from the scope of ASC 606. Transfers of Financial Assets : Transfers of financial assets are accounted for as sales when all of the components meet the definition of a participating interest and when control over the assets has been surrendered. A participating interest generally represents (1) a proportionate (pro rata) ownership interest in an entire financial asset, (2) a relationship where from the date of transfer all cash flows received from the entire financial asset are divided proportionately among the participating interest holders in an amount equal to their share of ownership, (3) the priority of cash flows has certain characteristics, including no reduction in priority, subordination of interest, or recourse to the transferor other than standard representation or warranties, and (4) no party has the right to pledge or exchange the entire financial asset unless all participating interest holders agree to pledge or exchange the entire financial asset. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Bank, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Bank does not maintain effective control over the transferred assets through either (a) an agreement to repurchase them before their maturity or (b) the ability to unilaterally cause the holder to return specific assets, other than through a clean-up call. Premises and Equipment : Premises include the cost of land and buildings actually owned and occupied (or to be occupied) by the Bank, its branches, or consolidated subsidiaries. Equipment includes all movable furniture, fixtures, and equipment, including automobiles and other vehicles of the Bank, its branches and consolidated subsidiaries. Premises and equipment are stated at cost, less accumulated depreciation. Depreciation is the concept of allocating the cost of fixed assets over their estimated useful lives. Depreciation is computed and charged to operations using the straight-line method over the estimated useful lives of the respective assets as follows: Years Buildings 39 Building improvements 15 - 39 Furniture, fixtures, and equipment 3 - 10 Leasehold improvements are amortized over the shorter of the improvements’ estimated economic lives or the related lease terms, including extensions expected to be exercised. Gains and losses on dispositions are recognized upon realization. Maintenance and repairs are expensed as incurred and improvements are capitalized. Leasehold improvements in process are not amortized until the assets are placed in operation. Impairment of Long-Lived Assets : Long-lived assets, including premises and leasehold improvements, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If impairment is indicated by that review, the asset is written down to its estimated fair value through a charge to noninterest expense. Leases : The Company leases office space and certain equipment under non-cancellable operating lease agreements and determines if an arrangement is a lease at inception. The Company does not currently have any financing lease arrangements. Right of use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Right of use assets are recognized on the commencement date based on the present value of lease payments over the lease term adjusted for initial direct costs, if any, and lease incentives received or deemed probable of being received. The Company uses the rate implicit in the lease if it is readily determinable or otherwise the Company uses its incremental borrowing rate. The implicit rates of Company leases are not readily determinable and accordingly, the Company uses its incremental borrowing rate based on the information available at the commencement date for all leases. The Company's incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms and in a similar economic environment. The Company uses its FHLBNY borrowing rate based on the information available on the commencement date plus a spread of 2.50 % in determining the present value of lease payments. Lease expense is recognized on a straight-line basis over the lease term and is included in “Occupancy and equipment” in the Consolidated Statement of Operations. Some of the Company’s lease agreements include rental payments adjusted periodically for inflation which are accounted for as variable lease amounts but are not reflected as a component of the Company’s lease liability. Certain leases also require the Company to pay real estate taxes, insurance, maintenance and other operating expenses associated with the leased premises or equipment which are also not reflected as a component of the Company’s lease liability Other Real Estate Owned : Other Real Estate Owned (“OREO”) represents properties acquired through, or in lieu of, loan foreclosure or other proceedings. OREO is initially recorded at fair value, less estimated disposal costs, at the date of foreclosure, which establishes a new cost basis. After foreclosure, the properties are held for sale and are carried at the lower of cost or fair value, less estimated costs of disposal. Any write-down to fair value, at the time of transfer to OREO, is charged to the allowance for credit losses. Properties are evaluated regularly to ensure that the recorded amounts are supported by current fair values and charges against earnings are recorded as necessary to reduce the carrying amount to fair value, less estimated costs to dispose. Costs relating to the development and improvement of the property are capitalized, subject to the limit of fair value of the OREO, while costs relating to holding the property are expensed. Gains or losses are included in operations upon disposal. Income Taxes : The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income, in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that all or some portion of the deferred tax assets will not be realized. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the consolidated financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured as the largest amount of tax benefit that is more than 50 % likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest and penalties associated with unrecognized tax benefits, if any, would be classified as additional provision for income taxes in the consolidated statements of operations. Related Party Transactions : Directors and officers of the Company and their affiliates have been customers of and have had transactions with the Company, and it is expected that such persons will continue to have such transactions in the future. Management believes that all deposit accounts, loans, services and commitments comprising such transactions were made in the ordinary course of business, on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other customers who are not directors or officers. In the opinion of management, the transactions with related parties did not involve more than normal risk of collectability, nor favored treatment or terms, nor present other unfavorable features. Note 17 contains details regarding related party transactions. Employee Benefit Plans: The Company maintains a KSOP, an Employee Stock Ownership Plan with 401(k) provisions incorporated, a Long-Term Incentive Plan that includes grants of restricted stock units and stock options, and a Supplemental Executive Retirement Plan (the “SERP”). KSOP, the Employee Stock Ownership Plan with 401(k) Provisions: Compensation expense is recorded as shares are committed to be released with a corresponding credit to unearned KSOP equity account at the average fair market value of the shares during the period and the shares become outstanding for earnings per share computations. Compensation expense is recognized ratably over the service period based upon management’s estimate of the number of shares expected to be allocated by the KSOP. The difference between the average fair market value and the cost of the shares allocated by the KSOP is recorded as an adjustment to additional paid-in-capital. Unallocated common shares held by the Company’s KSOP are shown as a reduction in stockholders’ equity and are excluded from weighted-average common shares outstanding for both basic and diluted earnings per share calculations until they are committed to be released. The 401(k) provisions provide for elective employee/participant deferrals of income. Discretionary matching, profit-sharing, and safe harbor contributions, not

Preferred Stock Issuance; Plan

Preferred Stock Issuance; Plan of Conversion and Stock Offering	9 Months Ended
	Sep. 30, 2023
Plan Of Conversion And Stock Offering [Abstract]
Preferred Stock Issuance; Plan of Conversion and Stock Offering	Note 2. Preferred Stock Issuance; Plan of Conversion and Stock Offering Preferred Stock Issuance On June 7, 2022, the Company‎ closed a private placement (the “Private Placement”) of 225,000 shares of the Company’s Senior Non-Cumulative Perpetual Preferred Stock, Series A‎, par value $ 0.01 (the “Preferred Stock”) for an aggregate purchase price equal to $ 225.0 million in cash, to the United States Department of the Treasury (the “Treasury”) pursuant to the Emergency Capital Investment Program (“ECIP”).‎ The holders of the Preferred Stock will be entitled to a dividend payable in cash quarterly at an annual rate dependent on certain factors as reported by the Company to Treasury in a quarterly supplemental report. The initial dividend rate is zero percent for the first two years after issuance, and thereafter the floor dividend rate is 0.50 % and the ceiling dividend rate is 2.00 %. After 10 years of issuance, the perpetual dividend rate in effect, will be determined based on said floor and ceiling. The actual dividend rate that will be paid by the Company on the Preferred Stock cannot be determined at this time. The ECIP investment by the Treasury is part of a program to invest over $ 8.7 billion into Community Development Financial Institution (“CDFI”) or ‎Minority Depository Institution (“MDI”), of which Ponce Bank is both. The ECIP is intended to incentivize CDFIs and MDIs to provide loans, grants, ‎and forbearance to small businesses, minority-owned businesses, and consumers in low-income and underserved communities that may have been ‎disproportionately impacted by the economic effects of the COVID-19 pandemic.‎ In the event of a liquidation, dissolution or winding up of the Company, the Preferred Stock will be entitled to a liquidation preference, subject to certain limitations, in the amount of the sum of $ 1,000 per share plus declared and unpaid dividends (without accumulation of undeclared dividends) on each share. Conversion, Reorganization and Common Stock Offering On May 25, 2021, Ponce Bank Mutual Holding Company and PDL Community Bancorp, the then holding company for Ponce Bank and Mortgage World Bankers, Inc., announced that their Boards of Directors had unanimously adopted a Plan of Conversion and Reorganization (the “Plan”) pursuant to which Ponce Bank Mutual Holding Company and PDL Community Bancorp reorganized into a new stock holding company and conducted a second-step stock offering of new shares of common stock. On January 26, 2022, Mortgage World transferred its assets and liabilities to Ponce Bank and ceased operating as an independent mortgage banking entity. Mortgage World’s business is now conducted as a division of Ponce Bank. On January 27, 2022, Ponce Financial Group, Inc. and PDL Community Bancorp announced that the conversion and reorganization of Ponce Bank Mutual Holding Company from the mutual to stock form of organization and related stock offering was consummated at the close of business. As a result of the closing of the conversion and reorganization and stock offering, Ponce Financial Group, Inc. is now the holding company for Ponce Bank. Ponce Bank’s former mutual holding companies, PDL Community Bancorp and Ponce Bank Mutual Holding Company, have ceased to exist. PDL Community Bancorp’s stock ceased trading at the close of the market on January 27, 2022. Ponce Financial Group, Inc.’s common stock began trading on the Nasdaq Global Market under the same trading symbol “PDLB” on January 28, 2022. As a result of the conversion and reorganization, each issued and outstanding share of PDL Community Bancorp common stock was converted into the right to receive 1.3952 shares of Ponce Financial Group, Inc. common stock. Cash was paid in lieu of any fractional shares based on the sale price in the offering of $ 10.00 per share. Ponce Financial Group Inc.’s total issued and outstanding shares on January 28, 2022 was 24,711,834 shares. All shares of treasury stock of PDL Community Bancorp were eliminated on January 27, 2022. On January 27, 2022, the Company made a $ 5.0 million in contribution to the Ponce De Leon Foundation as part of the conversion and reorganization, which is included in the non-interest expense for the nine months ended September 30, 2022, in the accompanying Consolidated Statements of Operations.

Securities

Securities	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Securities	Note 3. Securities Adoption of Topic 326 Effective January 1, 2023, the Company adopted the provisions of Topic 326 using the modified retrospective method. Therefore, prior period comparative information has not been adjusted and continues to be reported under GAAP in effect prior to the adoption of Topic 326. There was no ACL on available-for-sale securities recognized upon the adoption of Topic 326. The amortized cost, gross unrealized gains and losses, and fair value of securities at September 30, 2023 and December 31, 2022 are summarized as follows: September 30, 2023 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ 2,989 $ — $ ( 276 ) $ 2,713 Corporate Bonds 25,799 — ( 2,609 ) 23,190 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 40,646 — ( 7,657 ) 32,989 FHLMC Certificates 10,441 — ( 1,904 ) 8,537 FNMA Certificates 62,771 — ( 13,552 ) 49,219 GNMA Certificates 108 — ( 3 ) 105 Total available-for-sale securities $ 142,754 $ — $ ( 26,001 ) $ 116,753 Held-to-Maturity Securities: U.S. Agency Bonds $ 25,000 $ — $ ( 504 ) $ 24,496 Corporate Bonds 82,500 — ( 5,117 ) 77,383 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 217,632 — ( 12,198 ) 205,434 FHLMC Certificates 3,923 — ( 358 ) 3,565 FNMA Certificates 121,940 — ( 8,818 ) 113,122 SBA Certificates 20,717 147 — 20,864 Allowance for Credit Losses ( 647 ) — — — Total held-to-maturity securities $ 471,065 $ 147 $ ( 26,995 ) $ 444,864 (1) Comprised of Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Ginnie Mae (“GNMA”) issued securities. December 31, 2022 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ 2,985 $ — $ ( 296 ) $ 2,689 Corporate Bonds 25,824 — ( 2,465 ) 23,359 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 44,503 — ( 6,726 ) 37,777 FHLMC Certificates 11,310 — ( 1,676 ) 9,634 FNMA Certificates 67,199 — ( 11,271 ) 55,928 GNMA Certificates 122 — ( 4 ) 118 Total available-for-sale securities $ 151,943 $ — $ ( 22,438 ) $ 129,505 Held-to-Maturity Securities: U.S. Agency Bonds $ 35,000 $ — $ ( 380 ) $ 34,620 Corporate Bonds 82,500 57 ( 3,819 ) 78,738 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 235,479 192 ( 5,558 ) 230,113 FHLMC Certificates 4,120 — ( 268 ) 3,852 FNMA Certificates 131,918 — ( 5,227 ) 126,691 SBA Certificates 21,803 34 — 21,837 Total held-to-maturity securities $ 510,820 $ 283 $ ( 15,252 ) $ 495,851 (1) Comprised of FHLMC, FNMA and GNMA issued securities. The Company’s securities portfolio had 40 and 42 available-for-sale securities and 33 and 34 held-to-maturity securities at September 30, 2023 and December 31, 2022 , respectively. There were no available-for-sale and held-to-maturity securities sold during the nine months ended September 30, 2023 . There were no held-to-maturity securities and available-for-sale securities sold during the year ended December 31, 2022 . One held-to-maturity security in the amount of $ 10.0 million matured and/or was called during the nine months ended September 30, 2023 . Two available-for-sale securities in the amount of $ 5.4 million matured and/or were called during the year ended December 31, 2022 . The Company did no t purchase any available-for-sale securities and held-to-maturity securities during the nine months ended September 30, 2023 and purchased $ 58.4 million in available-for-sale securities and $ 528.9 million in held-to-maturity securities during the year ended December 31, 2022. The following table presents the Company's gross unrealized losses and fair values of its securities, aggregated by the length of time the individual securities have been in a continuous unrealized loss position, at September 30, 2023 and December 31, 2022: September 30, 2023 Securities With Gross Unrealized Losses Less Than 12 Months 12 Months or More Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ — $ — $ 2,713 $ ( 276 ) $ 2,713 $ ( 276 ) Corporate Bonds — — 23,190 ( 2,609 ) 23,190 ( 2,609 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations — — 32,989 ( 7,657 ) 32,989 ( 7,657 ) FHLMC Certificates — — 8,537 ( 1,904 ) 8,537 ( 1,904 ) FNMA Certificates — — 49,219 ( 13,552 ) 49,219 ( 13,552 ) GNMA Certificates — — 105 ( 3 ) 105 ( 3 ) Total available-for-sale securities $ — $ — $ 116,753 $ ( 26,001 ) $ 116,753 $ ( 26,001 ) Held-to-Maturity Securities: U.S. Agency Bonds $ — $ — $ 24,496 $ ( 504 ) $ 24,496 $ ( 504 ) Corporate Bonds 3,206 ( 294 ) 74,177 ( 4,823 ) 77,383 ( 5,117 ) Collateralized Mortgage Obligations 93,209 ( 4,667 ) 112,225 ( 7,531 ) 205,434 ( 12,198 ) FHLMC Certificates — — 3,565 ( 358 ) 3,565 ( 358 ) FNMA Certificates — — 113,122 ( 8,818 ) 113,122 ( 8,818 ) Total held-to-maturity securities $ 96,415 $ ( 4,961 ) $ 327,585 $ ( 22,034 ) $ 424,000 $ ( 26,995 ) December 31, 2022 Securities With Gross Unrealized Losses Less Than 12 Months 12 Months or More Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ — $ — $ 2,689 $ ( 296 ) $ 2,689 $ ( 296 ) Corporate Bonds 13,138 ( 1,186 ) 10,221 ( 1,279 ) 23,359 ( 2,465 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations 4,537 ( 300 ) 33,240 ( 6,426 ) 37,777 ( 6,726 ) FHLMC Certificates — — 9,634 ( 1,676 ) 9,634 ( 1,676 ) FNMA Certificates 12,111 ( 1,230 ) 43,817 ( 10,041 ) 55,928 ( 11,271 ) GNMA Certificates 118 ( 4 ) — — 118 ( 4 ) Total available-for-sale securities $ 29,904 $ ( 2,720 ) $ 99,601 $ ( 19,718 ) $ 129,505 $ ( 22,438 ) Held-to-Maturity Securities: U.S. Agency Bonds $ 24,620 $ ( 380 ) $ — $ — $ 24,620 $ ( 380 ) Corporate Bonds 75,181 ( 3,819 ) — — 75,181 ( 3,819 ) Collateralized Mortgage Obligations 215,300 ( 5,558 ) — — 215,300 ( 5,558 ) FHLMC Certificates 3,177 ( 115 ) 675 ( 153 ) 3,852 ( 268 ) FNMA Certificates 126,691 ( 5,227 ) — — 126,691 ( 5,227 ) Total held-to-maturity securities $ 444,969 $ ( 15,099 ) $ 675 $ ( 153 ) $ 445,644 $ ( 15,252 ) At September 30, 2023 and December 31, 2022 , the Company had 40 and 42 available-for-sale securities, respectively, and 30 and 27 held-to-maturity securities at September 30, 2023 and December 31, 2022, respectively, with gross unrealized loss positions. Management reviewed the financial condition of the entities underlying the securities at both September 30, 2023 and December 31, 2022. The unrealized losses related to the Company debt securities were issued by U.S. government-sponsored entities and agencies. The Company does not believe that the debt securities that were in an unrealized loss position as of September 30, 2023 represents a credit loss impairment. The gross unrealized loss positions related to mortgage-backed securities and other obligations issued by the U.S. government agencies or U.S. government-sponsored enterprises carry the explicit and/or implicit guarantee of the U.S. government and have a long history of zero credit loss. Total gross unrealized losses were primarily attributable to changes in interest rates relative to when the investment securities were purchased and not due to the credit quality of the investment securities. Management reviewed the collectability of the corporate bonds taking into consideration of such factors as the financial condition of the issuers, reported regulatory capital ratios of the issuers, credit ratings, including ratings in effect as of the reporting date. Management believes the unrealized losses on the corporate bonds are primarily attributable to changes in the interest rates and not changes in the credit quality of the issuers of the corporate bonds. The following is a summary of maturities of securities at September 30, 2023 and December 31, 2022. Amounts are shown by contractual maturity. Because borrowers for mortgage-backed securities have the right to prepay obligations with or without prepayment penalties, at any time, these securities are included as a total within the table. September 30, 2023 Amortized Fair Cost Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 2,989 2,713 More than five years through ten years — — 2,989 2,713 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year 4,000 3,802 More than one year through five years 1,000 729 More than five years through ten years 20,799 18,659 25,799 23,190 Mortgage-Backed Securities 113,966 90,850 Total available-for-sale securities $ 142,754 $ 116,753 Held-to-Maturity Securities: U.S. Agency Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 25,000 24,496 More than five years through ten years — — 25,000 24,496 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 75,000 70,381 More than five years through ten years 7,500 7,002 82,500 77,383 Mortgage-Backed Securities 364,212 342,985 Allowance for Credit Losses ( 647 ) — Total held-to-maturity securities $ 471,065 $ 444,864 December 31, 2022 Amortized Fair Cost Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 2,985 2,689 More than five years through ten years — — 2,985 2,689 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 4,000 3,710 More than five years through ten years 21,824 19,649 25,824 23,359 Mortgage-Backed Securities 123,134 103,457 Total available-for-sale securities $ 151,943 $ 129,505 Held-to-Maturity Securities: U.S. Agency Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 35,000 34,620 More than five years through ten years — — 35,000 34,620 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 75,000 71,328 More than five years through ten years 7,500 7,410 82,500 78,738 Mortgage-Backed Securities 393,320 382,493 Total held-to-maturity securities $ 510,820 $ 495,851 The following table presents the activity in the allowance for credit losses for held-to-maturity securities: September 30, December 31, 2023 2022 Beginning balance $ — $ — Impact on CECL adoption 662 — Benefit for credit losses ( 15 ) — Allowance for credit losses $ 647 $ — At September 30, 2023 , 26 available-for-sale securities with a fair value totaling $ 90.7 million and 14 held-to-maturity securities with an amortized cost totaling $ 189.9 million were pledged at the Federal Reserve Bank of New York ("FRBNY") as collateral for borrowing activities. At December 31, 2022 six held-to-maturity securities with an amortized costs totaling $ 194.9 million were pledged at the FHLBNY as collateral for borrowing activities. No available-for-sale securities were pledged at December 31, 2022.

Mortgage Loans Held for Sale

Mortgage Loans Held for Sale	9 Months Ended
	Sep. 30, 2023
Receivable, Held-for-Sale [Abstract]
Mortgage Loans Held for Sale	Note 4. Mortgage Loans Held for Sale The following table provides the fair value and contractual principal balance outstanding of loans held for sale accounted for under the fair value options: September 30, December 31, 2023 2022 (in thousands) Mortgage loans held for sale, at fair value $ 14,103 $ 1,979 Mortgage loans held for sale, contractual principal outstanding 13,998 1,979 Fair value less unpaid principal balance $ 105 $ - At September 30, 2023 and at December 31, 2022, the Bank had 19 loans and 4 loans in the amount of $ 14.1 million and $ 2.0 million, respectively, were held for sale and accounted for under the fair value option accounting guidance for financial assets and financial liabilities. At September 30, 2023, there were $ 6.8 million in loans held for sale that were greater than 90 days past due and non-accrual with a substandard risk rating. At December 31, 2022, there were no loans held for sale that were greater than 90 days past due.

Loans Receivable and Allowance

Loans Receivable and Allowance for Credit Losses	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Loans Receivable and Allowance for Credit Losses	Note 5. Loans Receivable and Allowance for Credit Losses Loans receivable at September 30, 2023 and December 31, 2022 are summarized as follows: September 30, December 31, 2023 2022 (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 347,082 $ 343,968 Owner-Occupied 151,866 134,878 Multifamily residential 553,694 494,667 Nonresidential properties 321,472 308,043 Construction and land 411,383 185,018 Total mortgage loans 1,785,497 1,466,574 Nonmortgage loans: Business loans (1) 18,416 39,965 Consumer loans (2) 10,416 19,129 Total non-mortgage loans 28,832 59,094 Total loans, gross 1,814,329 1,525,668 Net deferred loan origination costs 692 2,051 Allowance for Credit Losses ( 27,414 ) ( 34,592 ) Loans receivable, net $ 1,787,607 $ 1,493,127 (1) As of September 30, 2023 and December 31, 2022, business loans include $ 1.1 million and $ 20.0 million, respectively, of SBA Paycheck Protection Program (“PPP”) loans. (2) As of September 30, 2023 and December 31, 2022, consumer loans include $ 9.3 million and $ 18.2 million, respectively, of microloans originated by Grain through its mobile application that is geared to the underbanked and new generations entering the financial services market and uses non-traditional underwriting methodologies. The Company’s lending activities are conducted principally in metropolitan New York City. The Company primarily grants loans secured by real estate to individuals and businesses pursuant to an established credit policy applicable to each type of lending activity in which it engages. Although collateral provides assurance as a secondary source of repayment, the Company ordinarily requires the primary source of repayment to be based on the borrowers’ ability to generate continuing cash flows. The Company also evaluates the collateral and creditworthiness of each customer. The credit policy provides that depending on the borrowers’ creditworthiness and type of collateral, credit may be extended up to predetermined percentages of the market value of the collateral or on an unsecured basis. Real estate is the primary form of collateral. Other important forms of collateral are time deposits and marketable securities. For disclosures related to the allowance for credit losses and credit quality, the Company does not have any disaggregated classes of loans below the segment level. Credit-Quality Indicators : Internally assigned risk ratings are used as credit-quality indicators, which are reviewed by management on a quarterly basis. The objectives of the Company’s risk-rating system are to provide the Board of Directors and senior management with an objective assessment of the overall quality of the loan portfolio, to promptly and accurately identify loans with well-defined credit weaknesses so that timely action can be taken to minimize credit loss, to identify relevant trends affecting the collectability of the loan portfolio, to isolate potential problem areas and to provide essential information for determining the adequacy of the allowance for credit losses. Below are the definitions of the internally assigned risk ratings: • Strong Pass – Loans to a new or existing borrower collateralized at least 90 percent by an unimpaired deposit account at the Company. • Good Pass – Loans to a new or existing borrower in a well-established enterprise in excellent financial condition with strong liquidity and a history of consistently high level of earnings, cash flow and debt service capacity. • Satisfactory Pass – Loans to a new or existing borrower of average strength with acceptable financial condition, satisfactory record of earnings and sufficient historical and projected cash flow to service the debt. • Performance Pass – Existing loans that evidence strong payment history but document less than average strength, financial condition, record of earnings, or projected cash flows with which to service the debt. • Special Mention – Loans in this category are currently protected but show one or more potential weaknesses and risks which may inadequately protect collectability or borrower’s ability to meet repayment terms at some future date if the weakness or weaknesses are not monitored or remediated. • Substandard – Loans that are inadequately protected by the repayment capacity of the borrower or the current sound net worth of the collateral pledged, if any. Loans in this category have well defined weaknesses and risks that jeopardize the repayment. They are characterized by the distinct possibility that some loss may be sustained if the deficiencies are not remediated. • Doubtful – Loans that have all the weaknesses of loans classified as “Substandard” with the added characteristics that the weaknesses make collection or liquidation in full, on the basis of current existing facts, conditions, and values, highly questionable and improbable. Loans within the top four categories above are considered pass rated, as commonly defined. Risk ratings are assigned as necessary to differentiate risk within the portfolio. Risk ratings are reviewed on an ongoing basis and revised to reflect changes in the borrowers’ financial condition and outlook, debt service coverage capability, repayment performance, collateral value and coverage as well as other considerations. The following tables present credit risk ratings by loan segment as of September 30, 2023 and December 31, 2022: September 30, 2023 Mortgage Loans Nonmortgage Loans Construction Total 1-4 Family Multifamily Nonresidential and Land Business Consumer Loans (in thousands) Risk Rating: Pass $ 488,062 $ 553,694 $ 318,829 $ 404,726 $ 18,207 $ 10,416 $ 1,793,934 Special mention 3,129 — 2,544 — — — 5,673 Substandard 7,757 — 99 6,657 209 — 14,722 Total $ 498,948 $ 553,694 $ 321,472 $ 411,383 $ 18,416 $ 10,416 $ 1,814,329 December 31, 2022 Mortgage Loans Nonmortgage Loans Construction Total 1-4 Family Multifamily Nonresidential and Land Business Consumer Loans (in thousands) Risk Rating: Pass $ 462,126 $ 492,556 $ 307,307 $ 173,351 $ 39,965 $ 19,129 $ 1,494,434 Special mention 7,692 1,437 606 — — — 9,735 Substandard 9,028 674 130 11,667 — — 21,499 Total $ 478,846 $ 494,667 $ 308,043 $ 185,018 $ 39,965 $ 19,129 $ 1,525,668 An aging analysis of loans, as of September 30, 2023 and December 31, 2022, is as follows: September 30, 2023 30-59 60-89 90 Days 90 Days Days Days or More Nonaccrual or More Current Past Due Past Due Past Due Total Loans Accruing (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 346,686 $ — $ — $ 396 $ 347,082 $ 396 $ — Owner-Occupied 149,732 — — 2,134 151,866 2,134 — Multifamily residential 553,694 — — — 553,694 — — Nonresidential properties 320,936 — 536 — 321,472 — — Construction and land 404,726 — — 6,657 411,383 6,657 — Nonmortgage loans: Business 18,159 48 — 209 18,416 209 — Consumer 9,969 86 361 — 10,416 — — Total $ 1,803,902 $ 134 $ 897 $ 9,396 $ 1,814,329 $ 9,396 $ — December 31, 2022 30-59 60-89 90 Days 90 Days Days Days or More Nonaccrual or More Current Past Due Past Due Past Due Total Loans Accruing (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 340,495 $ 1,530 $ 78 $ 1,865 $ 343,968 $ 3,061 $ — Owner-Occupied 131,510 2,553 — 815 134,878 2,987 — Multifamily residential 490,024 4,643 — — 494,667 — — Nonresidential properties 303,190 4,246 607 — 308,043 93 — Construction and land 173,351 — 4,100 7,567 185,018 7,567 — Nonmortgage loans: Business 27,657 1,466 7,869 2,973 39,965 — 2,973 Consumer 16,743 1,267 1,119 — 19,129 — — Total $ 1,482,970 $ 15,705 $ 13,773 $ 13,220 $ 1,525,668 $ 13,708 $ 2,973 The following schedules detail the composition of the allowance for credit losses on loans and the related recorded investment in loans as of and for the three and nine months ended September 30, 2023 and 2022, and as of and for the year ended December 31, 2022: For the Nine Months Ended September 30, 2023 Mortgage Loans Nonmortgage Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for Credit Losses: Balance, beginning of period $ 3,863 $ 1,723 $ 8,021 $ 2,724 $ 2,683 $ 120 $ 15,458 $ 34,592 Provision (benefit) charged to expense 33 257 653 ( 20 ) 2,276 193 ( 2,029 ) 1,363 Impact of CECL adoption 766 146 ( 3,962 ) 578 ( 911 ) 236 57 ( 3,090 ) Charge-offs — — — — — — ( 6,092 ) ( 6,092 ) Recoveries — — — — — 3 638 641 Balance, end of period $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 Ending balance: individually $ — $ 71 $ — $ — $ — $ 204 $ — $ 275 Ending balance: collectively 4,662 2,055 4,712 3,282 4,048 348 8,032 27,139 Total $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 Loans: Ending balance: individually $ 396 $ 2,134 $ — $ — $ 6,657 $ 209 $ — $ 9,396 Ending balance: collectively 346,686 149,732 553,694 321,472 404,726 18,207 10,416 1,804,933 Total $ 347,082 $ 151,866 $ 553,694 $ 321,472 $ 411,383 $ 18,416 $ 10,416 $ 1,814,329 For the Three Months Ended September 30, 2023 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of period $ 4,776 $ 2,152 $ 4,738 $ 3,238 $ 3,189 $ 450 $ 9,630 $ 28,173 Provision (benefit) charged to expense ( 114 ) ( 26 ) ( 26 ) 44 859 102 ( 89 ) 750 Losses charged-off — — — — — — ( 1,592 ) ( 1,592 ) Recoveries — — — — — 3 80 83 Balance, end of period $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 For the Nine Months Ended September 30, 2022 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of period $ 3,540 $ 1,178 $ 5,684 $ 2,165 $ 2,024 $ 306 $ 1,455 $ 16,352 Provision (benefit) charged to expense 25 214 1,064 296 802 ( 235 ) 9,239 11,405 Charge-offs — — — — — — ( 3,000 ) ( 3,000 ) Recoveries 156 39 — — — 94 62 351 Balance, end of period $ 3,721 $ 1,431 $ 6,748 $ 2,461 $ 2,826 $ 165 $ 7,756 $ 25,108 Ending balance: individually $ 69 $ 99 $ — $ 37 $ — $ — $ — $ 205 Ending balance: collectively 3,652 1,332 6,748 2,424 2,826 165 7,756 24,903 Total $ 3,721 $ 1,431 $ 6,748 $ 2,461 $ 2,826 $ 165 $ 7,756 $ 25,108 Loans: Ending balance: individually $ 8,352 $ 4,440 $ — $ 1,587 $ 10,660 $ 359 $ — $ 25,398 Ending balance: collectively 328,315 108,309 421,917 281,055 186,777 41,039 22,563 1,389,975 Total $ 336,667 $ 112,749 $ 421,917 $ 282,642 $ 197,437 $ 41,398 $ 22,563 $ 1,415,373 For the Three Months Ended September 30, 2022 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer Total (in thousands) Allowance for loan losses: Balance, beginning of period $ 3,607 $ 1,233 $ 6,374 $ 2,493 $ 2,262 $ 103 $ 1,463 $ 17,535 Provision (benefit) charged to expense 114 159 374 ( 32 ) 564 61 8,090 9,330 Losses charged-off — — — — — — ( 1,799 ) ( 1,799 ) Recoveries — 39 — — — 1 2 42 Balance, end of period $ 3,721 $ 1,431 $ 6,748 $ 2,461 $ 2,826 $ 165 $ 7,756 $ 25,108 For the Year Ended December 31, 2022 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of year $ 3,540 $ 1,178 $ 5,684 $ 2,165 $ 2,024 $ 306 $ 1,455 $ 16,352 Provision (benefit) charged to expense 167 506 2,337 559 659 ( 280 ) 20,098 24,046 Charge-offs — — — — — — ( 6,660 ) ( 6,660 ) Recoveries 156 39 — — — 94 565 854 Balance, end of year $ 3,863 $ 1,723 $ 8,021 $ 2,724 $ 2,683 $ 120 $ 15,458 $ 34,592 Ending balance: individually $ 63 $ 96 $ — $ 37 $ — $ — $ — $ 196 Ending balance: collectively 3,800 1,627 8,021 2,687 2,683 120 15,458 34,396 Total $ 3,863 $ 1,723 $ 8,021 $ 2,724 $ 2,683 $ 120 $ 15,458 $ 34,592 Loans: Ending balance: individually $ 5,269 $ 4,315 $ — $ 801 $ 7,567 $ — $ — $ 17,952 Ending balance: collectively 338,699 130,563 494,667 307,242 177,451 39,965 19,129 1,507,716 Total $ 343,968 $ 134,878 $ 494,667 $ 308,043 $ 185,018 $ 39,965 $ 19,129 $ 1,525,668 Loans are considered impaired when current information and events indicate all amounts due may not be collectable according to the contractual terms of the related loan agreements. Impaired loans are identified by applying normal loan review procedures in accordance with the allowance for credit losses methodology. Management periodically assesses loans to determine whether impairment exists. Any loan that is, or will potentially be, no longer performing in accordance with the terms of the original loan contract is evaluated to determine impairment. The following information relates to impaired loans as of and for the nine months ended September 30, 2023 and 2022 and as of and for the year ended December 31, 2022: Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and For the Nine Months Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 2,517 $ 2,081 $ 449 $ 2,530 $ 71 $ 6,478 $ 40 Multifamily residential — — — — — 958 — Nonresidential properties — — — — — 531 — Construction and land 6,650 6,657 — 6,657 — 8,438 — Nonmortgage loans: Business 209 — 209 209 204 83 — Consumer — — — — — — Total $ 9,376 $ 8,738 $ 658 $ 9,396 $ 275 $ 16,488 $ 40 Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and For the Nine Months Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 13,100 $ 11,015 $ 1,777 $ 12,792 $ 168 $ 11,440 $ 164 Multifamily residential — — — — — 789 — Nonresidential properties 1,630 1,239 348 1,587 37 2,268 38 Construction and land 10,660 10,660 — 10,660 — 5,147 16 Nonmortgage loans: Business 359 359 — 359 — 93 — Consumer — — — — — 24 — Total $ 25,749 $ 23,273 $ 2,125 $ 25,398 $ 205 $ 19,761 $ 218 Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and for the Year Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 9,986 $ 7,827 $ 1,757 $ 9,584 $ 159 $ 11,072 $ 307 Multifamily residential — — — — — 630 — Nonresidential properties 843 457 344 801 37 1,930 30 Construction and land 7,567 7,567 — 7,567 — 6,408 — Nonmortgage loans: Business — — — — — 3 — Consumer — — — — — — — Total $ 18,396 $ 15,851 $ 2,101 $ 17,952 $ 196 $ 20,043 $ 337 The Company adopted Accounting Standards Update (“ASU”) 2022-02 on January 1, 2023 . Since adoption, the Company has not modified any loans with borrowers experiencing financial difficulty. These modifications may include a reduction in interest rate, an extension in term, principal forgiveness and/or other than insignificant payment delay. At September 30, 2023, there were no loans with modifications to borrowers experiencing financial difficulty. Prior to the adoption of ASU 2022-02 on January 1, 2023, the Company classified certain loans as troubled debt restructuring (“TDR”) loans when credit terms to a borrower in financial difficulty were modified, in accordance with ASC 310-40. With the adoption of ASU 2022-02 as of January 1, 2023, the Company has ceased to recognize or measure for new TDRs but those existing at December 31, 2022 will remain until settled. During the year ended December 31, 2022, there were no loans restructured as a troubled debt restructuring. At September 30, 2023 and December 31, 2022, there were 21 and 23 troubled debt restructured loans totaling $ 5.9 million and $ 6.6 million of which $ 5.2 million and $ 4.2 million are on accrual status, respectively. There were no commitments to lend additional funds to borrowers whose loans have been modified in a troubled debt restructuring. The financial impact from the concessions made represents specific impairment reserves on these loans, which aggregated to $ 0.2 million December 31, 2022. Write-off and write-down of Microloans In 2020, the Company entered into a business arrangement with the FinTech startup company Grain. Grain’s product is a mobile application geared to the underbanked, minorities and new generations entering the financial services market. In employing this mobile application, the Bank uses non-traditional underwriting methodologies to provide revolving credit to borrowers who otherwise may gravitate to using alternative non-bank lenders. Under the terms of its agreement with Grain, the Bank is the lender for Grain-originated microloans with credit lines currently up to $ 1,500 and, where applicable, the depository for related security deposits. Grain originates and services these microloans and is responsible for maintaining compliance with the Bank's origination and servicing standards, as well as applicable regulatory and legal requirements. If a microloan is found to be fraudulent, becomes 90 days delinquent upon 90 days of origination or defaults due to a failure of Grain to properly service the microloan, the Bank’s applicable standards for origination or servicing are deemed to have not been complied with and the microloan is put back to Grain, who then becomes responsible for the microloan and any related losses. The microloans put back to Grain are accounted for as an “other asset,” specifically referred to herein as the “Grain Receivable.” At December 31, 2022, the Bank had 27,886 Grain microloans outstanding, net of put backs, with an aggregate balance totaling $ 18.2 million and which were performing, in management's opinion, comparably to similar portfolios, offset by a $ 15.4 million allowance for loan losses, resulting in $ 2.8 million in Grain microloans, net of allowance for loan losses. Grain has been victimized by cyber fraud using synthetic and other forms of fraudulent identifications, a phenomenon that has become prevalent with Fintechs. Grain remains a pre-profit startup highly dependent on earnings from its relationship with the Bank, a new relationship with another financial institution, and further capital raises which may not materialize. The Company continues to closely monitor its portfolio of consumer loans originated by Grain as well as Grain’s refinement of solutions for detecting and preventing cyber fraud in the application for microloans. The Company has requested, and Grain has agreed, that no new microloans be originated until further notice and that further extensions of credit to an existing microloan borrower only be made upon confirmation that such borrower is not fraudulent. Further, like other start-up companies, there is a higher level of risk that Grain may not be able to execute its business plan and may fail. In the event Grain were to cease operations, and although it has considered contingency plans, the Bank may have greater difficulty in servicing and collecting the microloan portfolio. In such a case, the level the Bank has provided for in its allowance for credit losses for its microloan portfolio may be inadequate and it may need to increase its provision for credit losses, which could materially decrease the Company’s net income. As a consequence of such events, the Bank may determine it appropriate to terminate its relationship with Grain. At September 30, 2023 , the Bank had 16,687 Grain microloans outstanding, net of put backs, with an aggregate balance totaling $ 9.3 million and which were performing, in management’s opinion, comparably to similar portfolios, offset by an $ 8.1 million allowance for credit losses, resulting in $ 1.2 million in Grain microloans. Since the beginning of the Bank’s agreement with Grain and through September 30, 2023 , 45,322 microloans amounting to $ 24.3 million have been deemed to be fraudulent and put back to Grain. The Company has written-down a total of $ 15.6 million, net of recoveries, of the Grain Receivable and received $ 6.8 million in cash from Grain and through the application of security deposits connected to fraudulent loan accounts. The Bank also opted to use the $ 1.8 million grant it received from the U.S. Treasury Department’s Rapid Response ‎Program to defray the Grain Receivable. The application of those amounts resulted in no net receivable. Additionally, the Company wrote-off its equity investment in Grain of $ 1.0 million during the year ended December 31, 2022. As of September 30, 2023 , the Company’s total exposure to Grain was $ 1.2 million of the remaining microloans, net of allowance for credit losses, excluding $ 2.4 million of unused commitments available to Grain borrowers and $ 1.6 million of security deposits by Grain borrowers. The $ 1.3 million of recoveries for the nine months ended September 30, 2023 and the $ 18.5 million write-off for the nine months ended September 30, 2022 related to Grain is included in non-interest expense in the accompanying Consolidated Statements of Operations. Of the $ 1.3 million of recoveries for the nine months ended September 30, 2023, $ 0.7 million were payments received from Grain on the Grain Receivable and the remainder were payments from Grain borrowers. Grain Technology, Inc. ("Grain") Total Exposure as of September 30, 2023 (in thousands) Receivable from Grain Microloans originated - put back to Grain (inception-to-September 30, 2023) $ 24,255 Write-downs, net of recoveries (inception-to-date as of September 30, 2023) ( 15,610 ) Cash receipts from Grain (inception-to-September 30, 2023) ( 6,819 ) Grant/reserve (inception-to-September 30, 2023) ( 1,826 ) Net receivable as of September 30, 2023 $ — Microloan receivables from Grain borrowers Grain originated loans receivable as of September 30, 2023 $ 9,318 Allowance for credit losses as of September 30, 2023 (1) ( 8,163 ) Microloans, net of allowance for credit losses as of September 30, 2023 $ 1,155 Investments Investment in Grain $ 1,000 Investment in Grain write-off ( 1,000 ) Investment in Grain as of September 30, 2023 $ — Total exposure to Grain as of September 30, 2023 $ 1,155 (1) Includes $ 0.3 million for allowance for unused commitments on the $ 2.4 million of unused commitments available to Grain borrowers reported in other liabilities in the accompanying Consolidated Statements of Financial Conditions. Excludes $ 1.6 million of security deposits by Grain originated borrowers reported in deposits in the accompanying Consolidated Statements of Financial Conditions. Off-Balance Sheet Credit Losses Also included within the scope of the CECL standard are off-balance sheet loan commitments, which includes the unfunded portion of committed lines of credit and construction loans. The Company estimates expected credit losses over the contractual period in which the company is exposed to credit risk through a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit losses on off-balance sheet exposures is adjusted as a provision for credit loss expense. The Company uses similar assumptions and risk factors that are developed for collectively evaluated financing receivables. This estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments to be funded over its estimated life. At September 30, 2023 , the allowance for off-balance sheet credit losses was $ 3.2 million, which is included in the "Other liabilities" on the Consolidated Statements of Financial Condition. During the nine months ended September 30, 2023 , the Company had $ 1.9 million in credit loss provision for off-balance-sheet items, which are included in "Provision for contingencies" on the Consolidated Statements of Income. The following table presents the activity in the allowance for off-balance-sheet credit losses: September 30, December 31, 2023 2022 Balance at beginning of period $ 354 $ 229 Impact on CECL adoption 948 — Provision 1,893 125 Allowance for credit losses $ 3,195 $ 354

Premises and Equipment

Premises and Equipment	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Premises and Equipment	Note 6. Premises and Equipment Premises and equipment at September 30, 2023 and December 31, 2022 are summarized as follows: September 30, December 31, 2023 2022 (in thousands) Land $ 932 $ 932 Buildings and improvements 4,717 4,717 Leasehold improvements 15,973 15,808 Furniture, fixtures and equipment 8,702 8,497 30,324 29,954 Less: accumulated depreciation and amortization ( 13,871 ) ( 12,508 ) Total premises and equipment $ 16,453 $ 17,446 Depreciation and amortization expense amounted to $ 0.4 million both for the three months ended September 30, 2023 and 2022 and $ 1.4 million both for the nine months ended September 30, 2023 and 2022, respectively, and are included in occupancy and equipment in the accompanying consolidated statements of operations.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Note 7. Leases Effective January 1, 2022, the Company adopted the provisions of Topic 842 using the prospective transition approach. Therefore, prior period comparative information has not been adjusted and continues to be reported under GAAP in effect prior to the adoption of Topic 842. The Company has 16 operating leases for branches (including headquarters) and office spaces and five operating leases for equipment. Our leases have remaining lease terms ranging from less than one year to approximately 15 years , none of which has a renewal option reasonably certain of exercise, which has been reflected in the Company’s calculation of lease term. Certain leases have escalation clauses for operating expenses and real estate taxes. The Company’s non-cancelable operating lease agreements expire through 2038 . Supplemental balance sheet information related to leases was as follows: September 30, December 31, 2023 2022 (Dollars in thousands) Operating lease ROU assets $ 32,110 $ 33,423 Operating lease liabilities 33,459 34,532 Weighted-average remaining lease term-operating leases 12.8 years 13.5 years Weighted average discount rate-operating leases 4.9 % 4.9 % The components of lease expense and cash flow information related to leases were as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (Dollars in thousands) Lease Cost Operating lease cost Occupancy and equipment $ 1,029 $ 1,042 $ 3,123 $ 3,100 Operating lease cost Other operating expenses 4 1 14 2 Short-term lease cost Other operating expenses 5 — 15 6 Variable lease cost Occupancy and equipment 32 35 94 122 Total lease cost $ 1,070 $ 1,078 $ 3,246 $ 3,230 The Company’s minimum annual rental payments under the terms of the leases are as follows at September 30, 2023: Minimum Rental Years ended December 31: (in thousands) Remainder of 2023 $ 961 2024 3,866 2025 3,818 2026 3,668 2027 3,537 2028 3,594 Thereafter 25,474 Total Minimum payments required 44,918 Less: implied interest 11,459 Present value of lease liabilities $ 33,459 Lease Commitments : As of September 30, 2023 , there are noncancelable operating leases for office space that expire on various dates through 2038 . Certain of these leases contains escalation clauses providing for increased rental based on pre-scheduled annual increases or on increases in real estate taxes.

Deposits

Deposits	9 Months Ended
	Sep. 30, 2023
Banking And Thrifts [Abstract]
Deposits	Note 8. Deposits Deposits at September 30, 2023 and December 31, 2022 are summarized as follows: September 30, December 31, 2023 2022 (in thousands) Demand $ 265,862 $ 289,149 Interest-bearing deposits: NOW/IOLA accounts 22,519 24,349 Money market accounts (1) 370,500 236,143 Reciprocal deposits 82,670 114,049 Savings accounts 117,870 130,432 Total NOW, money market, reciprocal and savings 593,559 504,973 Certificates of deposit of $250K or more (1) 122,353 106,336 Brokered certificates of deposits (2) 98,729 98,754 Listing service deposits (2) 15,180 35,813 Certificates of deposit less than $250K (1) 305,449 217,387 Total certificates of deposit 541,711 458,290 Total interest-bearing deposits 1,135,270 963,263 Total deposits $ 1,401,132 $ 1,252,412 (1) A s of December 31, 2022, $ 81.7 million of SaveBetter deposits were reclassified from money market accounts to certificates of deposits. $ 36.2 million were reclassified to Certificates of deposits of $250K or more and $ 45.5 million were reclassified to certificates of deposit less than $250K. (2) A s of September 30, 2023 and December 31, 2022, there were $ 0.3 million and $ 13.6 million, respectively, in individual listing service deposits amounting to $ 250,000 or more. All brokered certificates of deposit individually amounted to less than $ 250,000 . At September 30, 2023 scheduled maturities of certificates of deposit were as follows: (in thousands) 2023 $ 203,736 2024 194,609 2025 51,183 2026 42,372 2027 48,257 Thereafter 1,554 $ 541,711 Overdrawn deposit accounts that have been reclassified to loans amounted to $ 0.1 million as of both September 30, 2023 and December 31, 2022 .

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Borrowings	Note 9. Borrowings The Bank had outstanding term advances from the FHLBNY and the FRBNY at September 30, 2023 and outstanding term advances from the FHLBNY at December 31, 2022, respectively. FHLBNY Advances : As a member of the FHLBNY, the Bank has the ability to borrow from the FHLBNY based on a certain percentage of the value of the Bank's qualified collateral, as defined in the FHLBNY Statement of Credit Policy, at the time of the borrowing. In accordance with an agreement with the FHLBNY, the qualified collateral must be free and clear of liens, pledges and encumbrances. The Bank had $ 371.1 million and $ 511.4 million of outstanding term advances from the FHLBNY at September 30, 2023 and December 31, 2022 , respectively and $ 6.0 million of overnight line of credit advance from the FHLBNY at December 31, 2022. The Bank had no overnight line of credit advance from the FHLBNY at September 30, 2023. The Bank also had a guarantee from the FHLBNY through letters of credit of up to $ 1.0 million at September 30, 2023 and $ 21.5 million at December 31, 2022. As of September 30, 2023 and December 31, 2022, the Bank had eligible collateral of approximately $ 853.6 million and $ 478.8 million, respectively, in residential 1-4 family and multifamily mortgage loans available to secure advances from the FHLBNY. FRBNY Advances : The Bank also has additional borrowing capacity under a secured line with the FRBNY secured by 49.4 % of our total securities portfolio with amortized cost of $ 303.8 million at September 30, 2023. The Bank had $ 304.0 million of outstanding term advances from the FRBNY at September 30, 2023. No amounts were outstanding at December 31, 2022. Borrowed funds at September 30, 2023 and December 31, 2022 consist of the following and are summarized by maturity and call date below: September 30, December 31, 2023 2022 Scheduled Redeemable Weighted Scheduled Redeemable Weighted (Dollars in thousands) Overnight line of credit $ — $ — — % $ 6,000 $ 6,000 4.61 % Term advances ending: 2023 $ — $ — — $ 178,375 $ 178,375 4.32 2024 354,000 354,000 4.53 50,000 50,000 4.75 2025 50,000 50,000 4.41 50,000 50,000 4.41 2026 — — — — — — 2027 212,000 212,000 3.44 183,000 183,000 3.25 Thereafter 59,100 59,100 3.43 50,000 50,000 3.35 $ 675,100 $ 675,100 4.08 % $ 517,375 $ 517,375 3.90 % Interest expense on term advances totaled $ 7.0 million and $ 1.5 million for the three months ended September 30, 2023 and 2022 and $ 17.6 million and $ 2.5 million for the nine months ended September 30, 2023 and 2022, respectively. There was $ 0.9 million in interest expense on overnight advances for the nine months ended September 30, 2023. There was no interest expense on overnight advances for the three months ended September 30, 2023. There was $ 0.3 million in interest expense on overnight advances for the three and nine months ended September 30, 2022 .

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Note 10. Income Taxes The provision (benefit) for income taxes for the three and nine months ended September 30, 2023 and 2022 consists of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Federal: Current $ 783 $ 2,265 $ 380 $ 370 Deferred 312 ( 2,750 ) 344 ( 4,047 ) 1,095 ( 485 ) 724 ( 3,677 ) State and local: Current 232 274 1,085 847 Deferred 1,818 ( 2,963 ) 1,091 ( 5,487 ) 2,050 ( 2,689 ) 2,176 ( 4,640 ) Valuation allowance ( 1,417 ) 2,354 ( 841 ) 4,061 Provision (benefit) for income taxes $ 1,728 $ ( 820 ) $ 2,059 $ ( 4,256 ) Total income tax expense differed from the amounts computed by applying the U.S. federal income tax rate of 21 % for the three and nine months ended September 30, 2023 and 2022, respectively, to income before income taxes as a result of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Income tax, at federal rate $ 906 $ ( 3,267 ) $ 1,027 $ ( 5,259 ) State and local tax, net of federal taxes 1,619 ( 2,125 ) 1,719 ( 3,666 ) Valuation allowance, net of the federal benefit ( 1,417 ) 2,354 ( 841 ) 4,061 Other 620 2,218 154 608 $ 1,728 $ ( 820 ) $ 2,059 $ ( 4,256 ) Management maintains a valuation allowance against its net New York State and New York City deferred tax assets as it is unlikely these deferred tax assets will be utilized to reduce the Company's tax liability in future years. For the nine months ended September 30, 2023 and 2022, the valuation allowance decreased by $ 0.8 million and increased by $ 4.1 million, respectively. In 2022, the Company generated large net operating losses in New York State and New York City which in turn increased the 2022 valuation allowance. Management has determined that it is not required to establish a valuation allowance against any other deferred tax assets since it is more likely than not that the deferred tax assets will be fully utilized in future periods. In assessing the need for a valuation allowance, management considers the scheduled reversal of the deferred tax liabilities, the level of historical taxable income, and the projected future taxable income over the periods that the temporary differences comprising the deferred tax assets will be deductible. For federal income tax purposes, a financial institution may carry net operating losses (“NOLs”) to forward tax years indefinitely. The use of NOLs to offset income is limited to 80 %. At September 30, 2023 , the Bank had a federal NOL carryforward of $ 6.7 million. The state and city of New York allow for a three-year carryback period and carryforward period of twenty years on NOLs generated on or after tax year 2015. For tax years prior to 2015, no carryback period is allowed. Ponce De Leon Federal Bank, the predecessor of Ponce Bank, has pre-2015 carryforwards of $ 0.6 million for New York State purposes and $ 0.5 million for New York City purposes. Furthermore, there are post-2015 carryforwards available of $ 58.9 million for New York State purposes and $ 29.7 million for New York City purposes. Finally, for New Jersey purposes, losses may only be carried forward 20 years, with no allowable carryback period. At September 30, 2023 , the Bank had a New Jersey NOL carryforward of $ 0.1 million. At September 30, 2023 and December 31, 2022 , the Company had no unrecognized tax benefits recorded. The Company does not expect that the total amount of unrecognized tax benefits will significantly increase in the next twelve months. The Company is subject to U.S. federal income tax, New York State income tax, Connecticut income tax, New Jersey income tax, Florida income tax, Pennsylvania income tax and New York City income tax. The Company is no longer subject to examination by taxing authorities for years before 2020. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at September 30, 2023 and December 31, 2022 are presented below: September 30, December 31, 2023 2022 (in thousands) Deferred tax assets: Allowance for loan losses $ 8,509 $ 11,324 Interest on nonaccrual loans 730 317 Unrealized loss on available-for-sale securities 5,533 4,777 Amortization of intangible assets 16 32 Operating lease liabilities 10,386 11,304 Net operating losses 7,348 9,119 Charitable contribution carryforward 1,647 1,859 Compensation and benefits 1,087 562 Other 2,025 478 Total gross deferred tax assets 37,281 39,772 Deferred tax liabilities: Depreciation of premises and equipment 996 1,049 Right of use assets 9,967 10,941 Deferred loan fees 215 671 Other 15 29 Total gross deferred tax liabilities 11,193 12,690 Valuation allowance 10,104 10,945 Net deferred tax assets $ 15,984 $ 16,137

Compensation and Benefit Plans

Compensation and Benefit Plans	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Compensation and Benefit Plans	Note 11. Compensation and Benefit Plans Ponce Bank Employee Stock Ownership Plan with 401(k) Provisions (the “KSOP”) . The KSOP is for eligible employees of Ponce Bank and those of its affiliates. The named executive officers are eligible to participate in the KSOP just like other employees. An employee must attain the age of 21 and will be eligible to participate in the 401(k) features of the KSOP in the quarter following thirty days of service and the Employee Stock Ownership Plan ("ESOP") feature of the KSOP upon the first entry date commencing on or after the eligible employee’s completion of one year of service. Employees are eligible to participate in the 401(k) Plan at the beginning of each quarter (January 1, April 1, July 1, or October 1). 401(k) Component : Under the 401(k) features of the KSOP (“401(k) Component”), a participant may elect to defer, on a pre-tax basis, the maximum amount as permitted by the Internal Revenue Code. For 2023, the salary deferral contribution limit was $ 22,500 ; provided, however, that a participant over age 50 may contribute an additional $ 7,500 to the 401(k) for a total of $ 30,000 . In addition to salary deferral contributions, Ponce Bank may make discretionary matching contributions, discretionary profit-sharing contributions or safe harbor contributions to the 401(k) Component. Discretionary matching contributions are allocated on the basis of salary deferral contributions. Discretionary profit-sharing contributions are based on three classifications set forth in the 401(k) feature (i) Class A — Chairman, President, and Executive Vice Presidents; (ii) Class B — Senior Vice Presidents, Vice Presidents and Assistant Vice Presidents; and (iii) Class C — all other eligible employees. The contribution for a class will be the same percentage of compensation for all participants in that class. If Ponce Bank decides to make a safe harbor contribution for a plan year, each participant will receive a contribution equal to 3 % of his or her compensation for the plan year. A participant is always 100 % vested in his or her salary deferral contributions and safe harbor contributions. Discretionary matching and profit-sharing contributions are 20 % vested after two years of service, plus an additional 20 % for each additional year of service; so all participants are fully vested in such contributions after six years of service. Participants also will become fully vested in his or her account balance in the 401(k) Component automatically upon normal retirement, death or disability, a change in control, or termination of the KSOP. Generally, participants will receive distributions from the KSOP upon separation from service in accordance with the terms of the governing document. ESOP Component: On September 29, 2017, in connection with the Bank’s reorganization into the mutual holding company form of organization, the ESOP trustee purchased, on behalf of the ESOP, 723,751 shares of PDL Community Bancorp common stock. The ESOP funded its stock purchase with a loan (“First ESOP loan”) from PDL Community Bancorp in the amount of $ 7.2 million, which was equal to the aggregate purchase price of the common stock. The First ESOP loan is being repaid principally through Ponce Bank’s contributions to the ESOP over the 15 -year term of such loan. The interest rate for the First ESOP loan is 2.60 %. On January 27, 2022, concurrent with the completion of the conversion and reorganization of Ponce Bank Mutual Holding Company from a mutual form to a stock form of organization and the merger of PDL Community Bancorp with and into Ponce Financial Group, Inc., the shares of PDL Community Bancorp common stock held by the KSOP were converted into 977,880 shares of Ponce Financial Group, Inc. common stock. On January 27, 2022, the KSOP trustee purchased, on behalf of the ESOP feature of the KSOP (“ESOP Component”), an additional 1,097,353 shares of Ponce Financial Group, Inc. common stock, or 4.44 % of the total number of shares of Ponce Financial Group, Inc. common stock outstanding on January 27, 2022 (including shares issued to the Foundation). The KSOP funded this stock purchase with a loan (“Second ESOP loan”) from Ponce Financial Group, Inc. in the amount of $ 11.0 million, which was equal to the aggregate purchase price of the common stock. The Second ESOP loan is being repaid principally through Ponce Bank’s contributions to the ESOP Component over the 15 -year term of such loan. The interest rate for the Second ESOP loan is 1.82 %. The trustee of the trust funding the KSOP holds the shares of Ponce Financial Group, Inc. common stock purchased by the KSOP in an unallocated suspense account, and shares will be released from the suspense account on a pro-rata basis as the loans are repaid. The trustee will allocate the shares released among participants on the basis of each participant’s proportional share of qualifying compensation relative to all participants participating in the ESOP Component. A participant will become 100 % vested in his or her account balance in the ESOP Component after three years of service. In addition, participants will become fully vested in his or her account balance in the ESOP Component automatically upon normal retirement, death or disability, a change in control, or termination of the KSOP. Generally, participants will receive distributions from the KSOP upon separation from service in accordance with the terms of the plan document. The KSOP reallocates any unvested shares of Ponce Financial Group, Inc. common stock forfeited upon termination of employment among the remaining participants in the ESOP Component. Contributions to the ESOP are to be sufficient to pay principal and interest currently due under the loan agreement. Under applicable accounting requirements, Ponce Bank will record a compensation expense for the ESOP at the average market price of the shares as they are committed to be released from the unallocated suspense account to participants’ accounts, which may be more or less than the original issue price. The compensation expense resulting from the release of the common stock from the suspense account and allocation to plan participants will result in a corresponding reduction in the earnings of Ponce Financial Group, Inc. The ESOP shares become outstanding for earnings per share computations (see Note 12). As of September 30, 2023 , the combined outstanding balance of both the First ESOP loan and Second ESOP loan was $ 13.3 million. A summary of the ESOP shares as of September 30, 2023 and December 31, 2022 are as follows: September 30, 2023 December 31, 2022 (Dollars in thousands) Shares committed-to-be released 100,308 133,744 Shares allocated to participants 448,746 354,227 Unallocated shares 1,469,167 1,569,475 Total 2,018,221 2,057,446 Fair value of unallocated shares $ 11,489 $ 14,628 The Company recognized ESOP related compensation expense, including ESOP equalization expense, of $ 0.3 million and $ 0.3 million for the three months ended September 30, 2023 and 2022 , and $ 0.9 million and $ 1.0 million for the nine months ended September 30, 2023 and 2022, respectively. Supplemental Executive Retirement Plan: The Bank maintains a non-qualified supplemental executive retirement plan (“SERP”) for the benefit of two key executive officers. The SERP expense recognized for the three months ended September 30, 2023 and 2022 was $ 0.02 million each and for the nine months ended September 30, 2023 and 2022 was $ 0.05 million each. 2018 Incentive Plan The Company’s stockholders approved the PDL Community Bancorp 2018 Long-Term Incentive Plan (the “2018 Incentive Plan”) at the Special Meeting of Stockholders on October 30, 2018. The maximum number of shares of common stock which can be issued under the 2018 Incentive Plan is 1,248,469 . Of the 1,248,469 shares, the maximum number of shares that may be awarded under the 2018 Incentive Plan pursuant to the exercise of stock options or stock appreciation rights (“SARs”) is 891,764 shares (all of which may be granted as incentive stock options), and the number of shares of common stock that may be issued as restricted stock awards or restricted stock units is 356,705 shares. However, the 2018 Incentive Plan contains a flex feature that provides that awards of restricted stock and restricted stock units in excess of the 356,705 share limitation may be granted but each share of stock covered by such excess award shall reduce the 891,764 share limitation for awards of stock options and SARs by 3.0 shares of common stock. The Company converted 462,522 awards of stock options into 154,174 restricted stock units in 2018, 45,000 awards of stock options into 15,000 restricted stock units in 2020 and 191,145 awards of stock options into 63,715 restricted stock units in 2022. Under the 2018 Incentive Plan, the Company made grants equal to 674,645 shares on December 4, 2018 which include 119,176 incentive options to executive officers, 44,590 non-qualified options to outside directors, 322,254 restricted stock units to executive officers, 40,000 restricted stock units to non-executive officers and 148,625 restricted stock units to outside directors. During the year ended December 31, 2020, the Company awarded 40,000 incentive options and 15,000 restricted stock units to non-executive officers under the 2018 Incentive Plan. Awards to directors generally vest 20 % annually beginning with the first anniversary of the date of grant. Awards to a director with fewer than five years of service at the time of grant vest over a longer period and will not become fully vested until the director has completed ten years of service. Awards to the executive officer who is not a director vest 20 % annually beginning on December 4, 2020. On April 1, 2022, the Company awarded 23,718 incentive options to an executive officer, 30,659 incentive options to non-executive officers and 13,952 non-qualified options to an outside director. In addition, on April 1, 2022 the Company awarded 40,460 restricted stock units to executive officers and 23,255 restricted stock units to outside directors. As of September 30, 2023 and December 31, 2022, the maximum number of stock options and SARs remaining to be awarded under the Incentive Plan for both periods was 4,883 , after the conversion from PDL Community Bancorp common stock to Ponce Financial Group, Inc. common stock. As of September 30, 2023 and December 31, 2022 , the maximum number of shares of common stock that may be issued as restricted stock or restricted stock units remaining to be awarded under the Incentive Plan was none , for both periods. The product of the number of units granted and the grant date market price of the Company’s common stock determine the fair value of restricted stock units under the Company’s 2018 Incentive Plan. The Company recognizes compensation expense for the fair value of restricted stock units on a straight-line basis over the requisite service period for the entire award. A summary of the Company’s restricted stock unit awards activity and related information for nine months ended September 30, 2023 and year ended December 31, 2022 are as follows: September 30, 2023 Number Weighted- Non-vested, beginning of year 245,840 $ 9.40 Granted — — Vested ( 4,147 ) 9.27 Forfeited — — Non-vested at March 31 241,693 $ 9.40 Granted — — Vested ( 21,235 ) 10.44 Forfeited ( 697 ) 9.15 Non-vested at June 30 219,761 $ 9.30 Granted — — Vested ( 4,186 ) 7.20 Forfeited — — Non-vested at September 30 215,575 $ 9.34 December 31, 2022 Number Weighted- Non-vested, beginning of year 237,687 $ 12.65 Conversion and reorganization 93,933 — Granted 63,715 10.44 Vested ( 149,495 ) 9.11 Forfeited — — Non-vested at December 31 245,840 $ 9.40 Compensation expense related to restricted stock units was $ 0.4 million each for the three months ended September 30, 2023 and 2022 and was $ 1.1 million and $ 1.0 million for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023 , the total remaining unrecognized compensation cost related to restricted stock units was $ 1.0 million, which is expected to be recognized over the next 17 quarters. A summary of the Company’s stock option awards activity and related information for nine months ended September 30, 2023 and year ended December 31, 2022 are as follows: September 30, 2023 Options Weighted- Outstanding, beginning of year 352,621 $ 8.97 Granted — — Exercised — — Forfeited — — Outstanding at March 31 (1) 352,621 8.97 Granted — — Exercised — — Forfeited — — Outstanding at June 30 352,621 8.97 Granted — — Exercised — — Forfeited — — Outstanding at September 30 (1) 352,621 $ 8.97 Exercisable at September 30 (1) 218,433 $ 8.82 December 31, 2022 Options Weighted- Outstanding, beginning of year 203,766 $ 12.02 Conversion and reorganization 80,526 $ — Granted 68,329 10.44 Exercised — — Forfeited — — Outstanding at December 31 (1) 352,621 $ 8.97 Exercisable at December 31 (1) 190,508 $ 8.83 (1) The aggregate intrinsic value, which represents the difference between the price of the Company’s common stock at respective periods and the stated exercise price of the underlying options, was $ 0 for outstanding options and $ 0 for exercisable options at September 30, 2023 and was $ 0.1 million for outstanding options and $ 0.1 million for exercisable options December 31, 2022 . The weighted-average exercise price for the options as of September 30, 2023 was $ 8.97 per share and the weighted average remaining contractual life is 5.9 years. The weighted average period over which compensation expenses are expected to be recognized is 2.9 years. There were 218,433 shares and 190,508 shares exercisable as of September 30, 2023 and December 31, 2022 , respectively. Total compensation cost related to stock options recognized was $ 0.05 million both for the three months ended September 30, 2023 and 2022 , and $ 0.1 million both for the nine months ended September 30, 2023 and 2022. As of September 30, 2023 , the total remaining unrecognized compensation cost related to unvested stock options was $ 0.3 million, which is expected to be recognized over the next 17 quarters. The fair value of each option grant is estimated on the date of grant using Black-Scholes option pricing model with the following weighted average assumptions: For the Nine Months Ended September 30, 2023 2022 Dividend yield N/A 0.00 % Expected life N/A 6.5 years Expected volatility N/A 41.34 % Risk-free interest rate N/A 2.65 % Weighted average grant date fair value N/A $ 3.85 The expected volatility is based on the Company’s historical volatility. The expected life is an estimate based on management’s review of the various factors and calculated using the simplified method for plain vanilla options. The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. 2023 Long-Term Incentive Plan The Company’s stockholders approved the 2023 Long-Term Incentive Plan (the “Plan”) at the Special Meeting of Stockholders on June 15, 2023. The maximum number of shares of common stock which can be issued under the Plan is 1,920,368 . Of the 1,920,368 shares, the maximum number of shares that may be awarded under the Plan pursuant to the exercise of stock options or stock appreciation rights (“SARs”) is 1,371,691 shares (all of which may be granted as incentive stock options), and the number of shares of common stock that may be issued as restricted stock awards or restricted stock units is 548,677 shares. There have been no grants of stock options and restricted stock awards or restricted stock units under the 2023 Long-Term Incentive Plan. Treasury Stock : The Company adopted a share repurchase program effective May 16, 2023 which was completed in August of 2023. Under the repurchase program, the Company was authorized to repurchase up to 1,235,000 shares of the Company's stock or approximately 5 % of the Company's then current issued and outstanding shares. During the nine months ended September 30, 2023, the Company repurchased a total of 1,235,000 shares of the Company's common stock. As of September 30, 2023 and December 31, 2022, 1,233,111 shares and 1,976 shares, respectively, were held as treasury stock as a result of share buy-backs and restricted stock units vested during 2023 and restricted stock units vested during 2022, respectively.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Note 12. Earnings Per Share The following table presents a reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (Dollars in thousands except share data) Net income (loss) $ 2,590 $ ( 14,738 ) $ 2,834 $ ( 20,787 ) - Common shares outstanding for basic EPS: Weighted average common shares outstanding 23,774,317 24,727,459 24,456,108 24,072,543 Less: Weighted average unallocated Employee Stock 1,502,241 1,632,600 1,535,428 1,548,066 Basic weighted average common shares outstanding 22,272,076 23,094,859 22,920,680 22,524,477 Basic earnings (loss) per common share $ 0.12 $ ( 0.64 ) $ 0.12 $ ( 0.92 ) Potential dilutive common shares: Add: Dilutive effect of restricted stock awards and stock options 77,141 — 42,276 — Diluted weighted average common shares outstanding 22,349,217 23,094,859 22,962,956 22,524,477 Diluted earnings (loss) per common share $ 0.12 $ ( 0.64 ) $ 0.12 $ ( 0.92 )

Commitments, Contingencies and

Commitments, Contingencies and Credit Risk	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Credit Risk	Note 13. Commitments, Contingencies and Credit Risk Financial Instruments With Off-Balance-Sheet Risk : In the normal course of business, financial instruments with off-balance-sheet risk may be used to meet the financing needs of customers. These financial instruments include commitments to extend credit and letters of credit. These instruments involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amounts recognized on the Consolidated Statements of Financial Condition. The contractual amounts of these instruments reflect the extent of involvement in particular classes of financial instruments. The contractual amounts of commitments to extend credit represent the amounts of potential accounting loss should the contract be fully drawn upon, the customer default, and the value of any existing collateral become worthless. The same credit policies are used in making commitments and contractual obligations as for on-balance-sheet instruments. Financial instruments whose contractual amounts represent credit risk at September 30, 2023 and December 31, 2022 are as follows: September 30, December 31, 2023 2022 (in thousands) Commitments to grant mortgage loans $ 445,152 $ 207,105 Commitments to sell loans at lock-in rates — 1,676 Unfunded commitments under lines of credit 62,114 72,530 $ 507,266 $ 281,311 Commitments to Grant Mortgage Loans : Commitments to grant mortgage loans are agreements to lend to a customer as long as all terms and conditions are met as established in the contract. Commitments generally have fixed expiration dates or other termination clauses, and may require payment of a fee by the borrower. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Each customer's creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management's credit evaluation of the counterparty. Collateral held varies, but may include accounts receivable, inventory, property and equipment, residential real estate and income-producing commercial properties. Material losses are not anticipated as a result of these transactions. Commitments to Sell Loans at Lock-in Rates: In order to assure itself of a marketplace to sell its loans, Mortgage World has agreements with investors who will commit to purchase loans at locked-in rates. Mortgage World has off-balance sheet market risk to the extent that Mortgage World does not obtain matching commitments from these investors to purchase the loans. This will expose Mortgage World to the lower of cost or market valuation environment. Repurchases, Indemnifications and Premium Recaptures : Loans sold by Mortgage World under investor programs are subject to repurchase or indemnification if they fail to meet the origination criteria of those programs. In addition, loans sold to investors are also subject to repurchase or indemnifications if the loan is two or three months delinquent during a set period which usually varies from six months to a year after the loan is sold. There are no open repurchase or indemnification requests for loans sold as a correspondent lender or where the Company acted as a broker in the transaction as of September 30, 2023. Unfunded Commitments Under Lines of Credit : Unfunded commitments under commercial lines of credit, revolving credit lines and overdraft protection agreements are commitments for possible future extension of credit to existing customers. These lines of credit are uncollateralized and usually contain a specified maturity date and, ultimately, may not be drawn upon to the total extent to which the Company is committed. Unfunded Commitments with Bamboo : On October 1, 2022, the Company entered into a Membership Interest Purchase Agreement with Bamboo Payment Holding LLC ("Bamboo"). Under the agreement, the Company purchased from Bamboo 180 Membership Interest Units representing an aggregate amount equal to up to 18 % of total issued and outstanding Membership Interest in Bamboo for a purchase price of $ 2.5 million. During the first nine months of 2023, the Company made three additional contributions for a total of $ 1.0 million for a total investment in Bamboo of $ 3.5 million and is committed to make an additional payment of $ 0.2 million in November of 2023. With over a decade processing payments in Latin America, Bamboo has a diverse network connects Latin American local payment processing to global companies as well as domestic solutions to locally based organizations. Unfunded Commitments with Oaktree : In December of 2021, the Bank committed to invest $ 5.0 million in Oaktree SBIC Fund, L.P. ("Oaktree"). As of September 30, 2023 and December 31, 2022, the total unfunded commitment was $ 2.4 million and $ 2.8 million, respectively. Unfunded Commitments with Silvergate : In April of 2022, the Company committed to invest $ 5.0 million in EJF Silvergate Ventures Fund LP ("Silvergate"). As of September 30, 2023 and December 31, 2022, the total unfunded commitment was $ 2.6 million and $ 3.3 million, respectively. Letters of Credit : Letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. These guarantees are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Letters of credit are largely cash secured. Concentration by Geographic Location : Loans, commitments to extend credit and letters of credit have been granted to customers who are located primarily in the New York City metropolitan area. Generally, such loans most often are secured by one-to-four family residential properties. The loans are expected to be repaid from the borrowers' cash flows. Legal Matters : The Company is involved in various legal proceedings which have arisen in the normal course of business. Management believes that resolution of these matters will not have a material effect on the Company’s financial condition or results of operations.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value	Note 14. Fair Value The following fair value hierarchy is used based on the lowest level of input significant to the fair value measurement. There are three levels of inputs that may be used to measure fair values: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company used the following methods and significant assumptions to estimate fair value: Cash and Cash Equivalents, Placements with Banks, Accrued Interest Receivable, Advance Payments by Borrowers for Taxes and Insurance, and Accrued Interest Payable : The carrying amount is a reasonable estimate of fair value. These assets and liabilities are not recorded at fair value on a recurring basis. Available-for-Sale Securities : These financial instruments are recorded at fair value in the consolidated financial statements on a recurring basis. Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted prices are not available, then fair values are estimated by using pricing models (e.g., matrix pricing) or quoted prices of securities with similar characteristics and are classified within Level 2 of the valuation hierarchy. Examples of such instruments include government agency bonds and mortgage-backed securities. Level 3 securities are securities for which significant unobservable inputs are utilized. There were no changes in valuation techniques used to measure similar assets during the period. FHLBNY Stock : The carrying value of FHLBNY stock approximates fair value since the Bank can redeem such stock with FHLBNY at cost. As a member of the FHLBNY, the Company is required to purchase this stock, which is carried at cost and classified as restricted equity securities. Loans Receivable : For variable rate loans, which reprice frequently and have no significant change in credit risk, carrying values are a reasonable estimate of fair values, adjusted for credit losses inherent in the portfolios. The fair value of fixed rate loans is estimated by discounting the future cash flows using estimated market rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities, adjusted for credit losses inherent in the portfolios. Impaired loans are valued using a present value discounted cash flow method, or the fair value of the collateral. Loans are not recorded at fair value on a recurring basis. Loans Held for Sale : Loans held for sale, at fair value, consists of loans originated for sale by the Bank and accounted for under the fair value option. These assets are valued using stated investor pricing for substantially equivalent loans as Level 2. In determining fair value, such measurements are derived based on observable market data, including whole-loan transaction pricing and similar market transactions adjusted for portfolio composition, servicing value and market conditions. Loans held for sale by the Bank are carried at the lower of cost or fair value as determined by investor bid prices. Under the fair value option, management has elected, on an instrument-by-instrument basis, fair value for substantially all forms of mortgage loans originated for sale on a recurring basis. The fair value carrying amount of mortgages held for sale measured under the fair value option was $ 14.1 million and the aggregate unpaid principal amounted to $ 14.0 million. Other Real Estate Owned : Other real estate owned represents real estate acquired through foreclosure, and is recorded at fair value less estimated disposal costs on a nonrecurring basis. Fair value is based upon independent market prices, appraised values of the collateral or management's estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the asset is classified as Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the asset is classified as Level 3. Deposits : The fair values of demand deposits, savings, NOW and money market accounts equal their carrying amounts, which represent the amounts payable on demand at the reporting date. Fair values for fixed-term, fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies market interest rates on certificates of deposit to a schedule of aggregated expected monthly maturities on such deposits. Deposits are not recorded at fair value on a recurring basis. FHLBNY Advances : The fair value of the advances is estimated using a discounted cash flow calculation that applies current market-based FHLBNY interest rates for advances of similar maturity to a schedule of maturities of such advances. These borrowings are not recorded at fair value on a recurring basis. Warehouse Lines of Credit : The carrying amounts of warehouse lines of credit and mortgage loan funding payable approximate fair value and due to their short-term nature are classified as Level 2. One of the warehouse lines of credit was terminated on March 31, 2022 and one was terminated on February 7, 2023 Off-Balance-Sheet Instruments : Fair values for off-balance-sheet instruments (lending commitments and standby letters of credit) are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties' credit standing. Off-balance-sheet instruments are not recorded at fair value on a recurring basis. The following tables detail the assets that are carried at fair value and measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022, and indicate the level within the fair value hierarchy utilized to determine the fair value: September 30, 2023 Description Total Level 1 Level 2 Level 3 (in thousands) Available-for-Sale Securities, at fair value: U.S. Government Bonds $ 2,713 $ 2,713 $ — $ — Corporate bonds 23,190 729 22,461 — Mortgage-Backed Securities: Collateralized Mortgage Obligations 32,989 — 32,989 — FHLMC Certificates 8,537 — 8,537 — FNMA Certificates 49,219 — 49,219 — GNMA Certificates 105 — 105 — Mortgage Loans Held for Sale, at fair value 14,103 — 14,103 — $ 130,856 $ 3,442 $ 127,414 $ — December 31, 2022 Description Total Level 1 Level 2 Level 3 (in thousands) Available-for-Sale Securities, at fair value: U.S. Government Bonds $ 2,689 $ 2,689 $ — $ — Corporate bonds 23,359 730 22,629 — Mortgage-Backed Securities: Collateralized Mortgage Obligations 37,777 — 37,777 — FHLMC Certificates 9,634 — 9,634 — FNMA Certificates 55,928 — 55,928 — GNMA Certificates 118 — 118 — Mortgage Loans Held for Sale, at fair value 1,979 — 1,979 — Derivatives from interest rate lock commitments 22 — — 22 $ 131,506 $ 3,419 $ 128,065 $ 22 Management’s assessment and classification of an investment within a level can change over time based upon maturity or liquidity of the investment and would be reflected at the beginning of the quarter in which the change occurred. The following tables detail the assets carried at fair value and measured at fair value on a nonrecurring basis as of September 30, 2023 and December 31, 2022 and indicate the fair value hierarchy utilized to determine the fair value: September 30, 2023 Total Level 1 Level 2 Level 3 (in thousands) Impaired loans $ 9,396 $ — $ — $ 9,396 December 31, 2022 Total Level 1 Level 2 Level 3 (in thousands) Impaired loans $ 17,952 $ — $ — $ 17,952 Losses on assets carried at fair value on a nonrecurring basis were de minimis for the three and nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023 and December 31, 2022, the carrying values and estimated fair values of the Company's financial instruments were as follows: Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 Total (in thousands) September 30, 2023 Financial assets: Cash and cash equivalents $ 117,012 $ 117,012 $ — $ — $ 117,012 Available-for-sale securities, at fair value 116,753 3,442 113,311 — 116,753 Held-to-maturity securities, at amortized cost, net 471,065 — 444,864 — 444,864 Placements with banks 996 — 996 — 996 Loans held for sale, at fair value 14,103 — 14,103 — 14,103 Loans receivable, net 1,787,607 — — 1,720,035 1,720,035 Accrued interest receivable 16,624 — 16,624 — 16,624 FHLBNY stock 18,870 18,870 — — 18,870 Financial liabilities: Deposits: Demand deposits 265,862 265,862 — — 265,862 Interest-bearing deposits 593,559 593,559 — — 593,559 Certificates of deposit 541,711 — 529,450 — 529,450 Advance payments by borrowers for taxes and insurance 13,743 — 13,743 — 13,743 Borrowings 675,100 — 654,847 — 654,847 Accrued interest payable 8,385 — 8,385 — 8,385 Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 Total (in thousands) December 31, 2022 Financial assets: Cash and cash equivalents $ 54,360 $ 54,360 $ — $ — $ 54,360 Available-for-sale securities, at fair value 129,505 3,419 126,086 — 129,505 Held-to-maturity securities, at amortized cost 510,820 — 495,851 — 495,851 Placements with banks 1,494 — 1,494 — 1,494 Loans held for sale, at fair value 1,979 — 1,979 — 1,979 Loans receivable, net 1,493,127 — — 1,430,864 1,430,864 Accrued interest receivable 15,049 — 15,049 — 15,049 FHLBNY stock 24,661 24,661 — — 24,661 Financial liabilities: Deposits: Demand deposits 289,149 289,149 — — 289,149 Interest-bearing deposits 504,973 504,973 — — 504,973 Certificates of deposit 458,290 — 450,224 — 450,224 Advance payments by borrowers for taxes and insurance 9,724 — 9,724 — 9,724 Borrowings 517,375 — 503,406 — 503,406 Accrued interest payable 1,390 — 1,390 — 1,390 The following table reconciles, at September 30, 2023 and December 31, 2022, the beginning and ending balances for debt securities available-for-sale that are recognized at fair value on a recurring basis, in the Consolidated Statements of Financial Condition, using significant unobservable inputs. September 30, December 31, 2023 2022 (in thousands) Beginning balance $ — $ 4,929 Total loss included in earnings — ( 344 ) Transfer out of level 3 — ( 4,585 ) Ending balance $ — $ — The Company recognizes transfers between levels of the valuation hierarchy at the end of the applicable reporting periods. There were no transfers into or out of Level 3 assets or liabilities in the fair value hierarchy at September 30, 2023 and one security transferred out of Level 3 assets in the fair value hierarchy at December 31, 2022. Fair value for Level 3 securities was determined using a third-party pricing service with limited levels of activity and price transparency. Off-Balance-Sheet Instruments : Loan commitments on which the committed interest rate is less than the current market rate are insignificant at September 30, 2023 and December 31, 2022. The fair value information about financial instruments are disclosed, whether or not recognized in the consolidated statements of financial condition, for which it is practicable to estimate that value. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The estimated fair value amounts for 2023 and 2022 have been measured as of their respective period-ends and have not been reevaluated or updated for purposes of these consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than amounts reported at each period. The information presented should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only required for a limited portion of the Company's assets and liabilities. Due to the wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company's disclosures and those of other banks may not be meaningful.

Regulatory Capital Requirements

Regulatory Capital Requirements	9 Months Ended
	Sep. 30, 2023
Disclosure Of Regulatory Capital Requirements [Abstract]
Regulatory Capital Requirements	Note 15. Regulatory Capital Requirements The Company and the Bank are subject to various regulatory capital requirements administered by the Federal Reserve Board, the OCC and the U.S. Department of Housing and Urban Development. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s operations and financial statements. Under the regulatory capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company's assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation require the maintenance of minimum amounts and ratios (set forth in the table below) of total risk-based and Tier 1 capital to risk-weighted assets (as defined), common equity Tier 1 capital (as defined), and Tier 1 capital to adjusted total assets (as defined) adjusted total assets (as defined). As of September 30, 2023 and December 31, 2022, the applicable capital adequacy requirements specified below have been met. The below minimum capital requirements exclude the capital conservation buffer required to avoid limitations on capital distributions including dividend payments and certain discretionary bonus payments to executive officers. The applicable capital buffer for the Bank was 17.10 % at September 30, 2023 and 22.53 % at December 31, 2022. The most recent notification from the OCC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Company and the Bank must maintain minimum total risk-based, common equity risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table below. There were no conditions or events since then that have changed the Bank's category. The Company's and the Bank’s actual capital amounts and ratios as of September 30, 2023 and December 31, 2022 as compared to regulatory requirements are as follows: To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) September 30, 2023 Ponce Financial Group, Inc. Total Capital to Risk-Weighted Assets $ 530,056 27.07 % $ 156,624 8.00 % $ 195,780 10.00 % Tier 1 Capital to Risk-Weighted Assets 505,508 25.82 % 117,468 6.00 % 156,624 8.00 % Common Equity Tier 1 Capital Ratio 505,508 25.82 % 88,101 4.50 % 127,257 6.50 % Tier 1 Capital to Total Assets 505,508 19.90 % 101,597 4.00 % 126,996 5.00 % Ponce Bank Total Capital to Risk-Weighted Assets $ 488,108 25.10 % $ 155,543 8.00 % $ 194,429 10.00 % Tier 1 Capital to Risk-Weighted Assets 463,727 23.85 % 116,657 6.00 % 155,543 8.00 % Common Equity Tier 1 Capital Ratio 463,727 23.85 % 87,493 4.50 % 126,379 6.50 % Tier 1 Capital to Total Assets 463,727 17.51 % 105,950 4.00 % 132,437 5.00 % To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2022 Ponce Financial Group, Inc. Total Capital to Risk-Weighted Assets $ 530,241 33.72 % $ 125,791 8.00 % $ 157,238 10.00 % Tier 1 Capital to Risk-Weighted Assets 510,537 32.47 % 94,343 6.00 % 125,791 8.00 % Common Equity Tier 1 Capital Ratio 510,537 32.47 % 70,757 4.50 % 102,205 6.50 % Tier 1 Capital to Total Assets 510,537 26.29 % 77,665 4.00 % 97,082 5.00 % Ponce Bank Total Capital to Risk-Weighted Assets $ 476,519 30.53 % $ 124,883 8.00 % $ 156,104 10.00 % Tier 1 Capital to Risk-Weighted Assets 456,816 29.26 % 93,662 6.00 % 124,883 8.00 % Common Equity Tier 1 Capital Ratio 456,816 29.26 % 70,247 4.50 % 101,468 6.50 % Tier 1 Capital to Total Assets 456,816 20.47 % 89,264 4.00 % 111,580 5.00 % Ponce Bank, through its Mortgage World division, is subject to various net worth requirements in connection with lending agreements that Ponce Bank has entered with purchase facility lenders. Failure to maintain minimum capital requirements could result in the Bank’s Mortgage World division being unable to originate and service loans, and, therefore, could have a direct material effect on the Company’s consolidated financial statements. The Bank's minimum net worth requirements as of September 30, 2023 and December 31, 2022 are reflected below: Minimum Requirement (in thousands) September 30, 2023 HUD $ 1,000 Minimum Requirement (in thousands) December 31, 2022 HUD $ 1,000 As of September 30, 2023 and December 31, 2022, the Bank was in compliance with the applicable minimum capital requirements specified above.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss	Note 16. Accumulated Other Comprehensive Loss The accumulated other comprehensive loss is as follows: September 30, 2023 December 31, Change September 30, (in thousands) Unrealized losses on available-for-sale securities, net $ ( 17,860 ) $ ( 2,608 ) $ ( 20,468 ) Total $ ( 17,860 ) $ ( 2,608 ) $ ( 20,468 ) December 31, 2022 December 31, Change December 31, (in thousands) Unrealized losses on available-for-sale securities, net $ ( 1,456 ) $ ( 16,404 ) $ ( 17,860 ) Total $ ( 1,456 ) $ ( 16,404 ) $ ( 17,860 )

Transactions with Related Parti

Transactions with Related Parties	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Transactions with Related Parties	Note 17. Transactions with Related Parties Directors, executive officers and non-executive officers of the Company have been customers of and have had transactions with the Bank, and it is expected that such persons will continue to have such transactions in the future. Aggregate loan transactions with related parties for the three and nine months ended September 30, 2023 and 2022 were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (in thousand) Beginning balance (1) $ 8,614 $ 7,532 $ 8,318 $ 5,631 Originations (1) 50 1,223 678 5,418 Payments ( 851 ) ( 269 ) ( 1,183 ) ( 2,563 ) Ending balance $ 7,813 $ 8,486 $ 7,813 $ 8,486 (1) Includes loans held by James Perez who became a director on March 17, 2022. The Company held deposits in the amount of $ 7.0 million and $ 8.0 million from directors, executive officers and non-executive officers at September 30, 2023 and December 31, 2022 , respectively.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Note 18. Subsequent Events In order to better manage its interest rate risk, on October 12, 2023 the Bank entered into two interest rate swap transactions with Goldman Sachs Bank USA. One interest rate swap is for a period of two years effective October 12, 2023 and terminates on November 1, 2025 with a notional amount of $ 150.0 million. The Bank will pay a fixed rate of interest of 4.885 % and receive the Secured Overnight Financing Rate ("SOFR") rate. The other interest rate swap is for a period of three years effective October 12, 2023 and terminates on November 1, 2026 with a notional amount of $ 100.0 million. The Bank will pay a fixed rate of interest of 4.62 % and receive the SOFR rate.

Nature of Business and Summar_2

Nature of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Statement Presentation	Basis of Presentation and Consolidation: Ponce Financial Group, Inc. (hereafter referred to as “we,” “our,” “us,” “Ponce Financial Group, Inc.,” or the “Company”) is the holding company of Ponce Bank (“Ponce Bank” or the “Bank”), a federally chartered stock savings association. The Company’s Consolidated Financial Statements presented herein have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Consolidated Financial Statements include the accounts of the Company, its wholly-owned subsidiary Ponce Bank (the “Bank”) and the Bank’s wholly-owned subsidiary, Ponce De Leon Mortgage Corp., which is a mortgage banking entity. All significant intercompany transactions and balances have been eliminated in consolidation.
Nature of Operations	Nature of Operations: The Company is a savings and loan holding company. The Company is subject to the regulation and examination by the Board of Governors of the Federal Reserve. The Company’s business is conducted through the administrative office and 13 full service banking and 6 mortgage loan offices. The banking offices are located in New York City – the Bronx ( 4 branches), Queens ( 3 branches), Brooklyn ( 3 branches), Manhattan ( 2 branches) and Union City ( 1 branch), New Jersey. The mortgage loan offices are located in Queens ( 4 ) and Brooklyn ( 1 ), New York and Bergenfield ( 1 ), New Jersey. The Company’s primary market area currently consists of the New York City metropolitan area. The Bank is a federally chartered stock savings association headquartered in the Bronx, New York. It was originally chartered in 1960 as a federally chartered mutual savings and loan association under the name Ponce De Leon Federal Savings and Loan Association. In 1985, the Bank changed its name to “Ponce De Leon Federal Savings Bank.” In 1997, the Bank changed its name again to “Ponce De Leon Federal Bank.” Upon the completion of its reorganization into a mutual holding company structure in September of 2017, the assets and liabilities of Ponce De Leon Federal Bank were transferred to and assumed by the Bank. The Bank is a Minority Depository Institution (“MDI”), a Community Development Financial Institution (“CDFI”), and a certified Small Business Administration (“SBA”) lender. The Bank is subject to comprehensive regulation and examination by the Office of Comptroller of the Currency (the “OCC”). 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, which have historically consisted of U.S. government and federal agency securities and securities issued by government-sponsored or owned enterprises, mortgage-backed securities and Federal Home Loan Bank of New York (the “FHLBNY”) stock. The Bank offers a variety of deposit accounts, including demand, savings, money markets and certificates of deposit accounts.
Risks and Uncertainties	Risks and Uncertainties: Inflation and interest rates may continue to adversely impact several industries within our geographic footprint and impair the ability of the Company’s customers to fulfill their contractual obligations to the Company. This could cause the Company to experience adverse effects on its business operations, loan portfolio, financial condition, and results of operations. During the nine months ended September 30, 2023, total interest expenses increased $ 35.5 million , or 480.4 % , to $ 42.8 million when compared to $ 7.4 million for the nine months ended September 30, 2022.
Use of Estimates	Use of Estimates : In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, as of the date of the consolidated statement of financial condition, and revenues and expenses for the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, the valuation of loans held for sale, the valuation of deferred tax assets and investment securities and the estimates relating to the valuation for share-based awards.
Interim Financial Statements	Interim Financial Statements : The interim consolidated financial statements at September 30, 2023, and for the three and nine months ended September 30, 2023 and 2022 are unaudited and reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The results of operations for the three and nine months ended September 30, 2023 , are not necessarily indicative of the results to be achieved for the remainder of the year ending December 31, 2023, or any other period.
Significant Group Concentrations of Credit Risk	Significant Group Concentrations of Credit Risk : Most of the Bank's activities are with customers located within New York City. Accordingly, the ultimate collectability of a substantial portion of the Bank's loan portfolio and the ability of Mortgage World, a division of the Bank, to sell originated loans in the secondary markets are susceptible to changes in the local market conditions. Note 3 discusses the types of securities in which the Bank invests. Notes 5 and 13 discuss the types of lending that the Bank engages in, and other concentrations.
Cash and Cash Equivalents	Cash and Cash Equivalents : Cash and cash equivalents include cash on hand and amounts due from banks (including items in process of clearing). For purposes of reporting cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents. Cash flows from loans originated by the Company, interest-bearing deposits in financial institutions, and deposits are reported net. Included in cash and cash equivalents are restricted cash from escrows and good faith deposits. Escrows consist of U.S. Department of Housing and Urban Development (“HUD”) upfront mortgage insurance premiums and escrows on unsold mortgages that are held on behalf of borrowers. Good faith deposits consist of deposits received from commercial loan customers for use in various disbursements relating to the closing of a commercial loan.
Securities	Securities : Management determines the appropriate classification of securities at the date individual investment securities are acquired, and the appropriateness of such classification is reassessed at each statement of financial condition date. Debt securities that management has the positive intent and ability to hold to maturity are classified as "held-to-maturity" and recorded at amortized cost. Trading securities, if any, are carried at fair value, with unrealized gains and losses recognized in earnings. Securities not classified as held-to-maturity or trading, are classified as "available-for-sale" and recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss), net of tax. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities.
Held-to Maturity Securities	Held-to maturity securities : Effective January 1, 2023, the Company adopted Accounting Standards Topic 326, "Financial Instruments - Credit Losses" which replaced the previously existing U.S. GAAP "incurred loss" approach to "expected credit losses" approach, which is referred as Current Expected Credit Losses ("CECL"). CECL modifies the accounting of impairment on held-for-sale debt securities by recognizing a credit loss through an allowance for credit losses. The Company methodology to measure the allowance for credit loss ("ACL") incorporates both quantitative and qualitative information to assess lifetime expected credit losses at the portfolio level. The quantitative component includes the calculation of loss rates using an open pool method. The Company differentiates its loss-rate method for a pool of held-to-maturity corporate securities by looking to publicly available historical default and recovery statistics based on the attributes of issuer type, rating category and time to maturity. The Company measures expected credit losses of these financial assets by applying loss rates to the amortized cost basis of each asset taking into consideration amortization, prepayment and default assumptions. The Company considers qualitative adjustments to expected credit losses for information not already captured in the loss estimation process. Qualitative factor adjustments may increase or decrease management's estimate of expected credit losses. Adjustments will not be made for information that has already been considered and included in the quantitative allowance.
Available-For-Sale Securities	Available-for-sale securities : The impairment model for available-for-sale ("AFS") debt securities differs from the CECL approach utilized by held-to-maturity ("HTM") debt securities since AFS debt securities are measured at fair value rather than amortized cost. For AFS debt securities in an unrealized loss position, the Bank first assesses whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value through income. On a quarterly basis, the Company evaluates the available-for-sale securities for impairment. Securities that are in an unrealized loss position are reviewed to determine if a securities credit loss exists based on certain quantitative and qualitative factors. The primary factors considered in evaluating whether an impairment exists include: (a) the extent to which the fair value is less than the amortized cost basis, (b) the financial condition, credit rating and future prospects of the issuer, (c) whether the debtor is current on contractually obligated interest and principal payments, and (d) whether the Company intends to sell the security and whether it is more likely than not the Company will not be required to sell the security. If a determination is made that a security is impaired, the Company will estimate the amount of the unrealized loss that is attributable to credit and all other non-credit related factors. The credit related component will be recognized as a securities credit loss as a provision expense through the establishment of an allowance for available for sale securities. The securities credit loss expense will be limited to the difference between the security's amortized cost basis and fair value and any future changes may be reversed, limited to the amount previously expensed in the period they occur. The non-credit related component will be recorded as an adjustment to accumulated other comprehensive income, net of tax. The evaluation of securities for impairment is a quantitative and qualitative process, which is subject to risks and uncertainties and is intended to determine whether declines in the estimated fair value of investments should be recognized in current period earnings. The risks and uncertainties include change in general economic conditions, the issuer's financial condition and/or future prospects, the effects of changes in interest rates or credit spreads, and the expected recovery period. See Note 3 ("Securities") of the Notes to the Consolidated Financial Statements.
Federal Home Loan Bank of New York Stock	Federal Home Loan Bank of New York Stock : The Bank is a member of the FHLBNY. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. FHLBNY stock is carried at cost, classified as a restricted security, and periodically evaluated for impairment based on ultimate recovery of par value. Both cash and stock dividends are reported as income.
Loans Receivable	Loans Receivable : Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at current unpaid principal balances, net of the allowance for credit losses on loans and including net deferred loan origination fees and costs. Interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the interest method without anticipating prepayments. A loan is moved to nonaccrual status in accordance with the Company’s policy typically after 90 days of non-payment. The accrual of interest on mortgage and commercial loans is generally discontinued at the time the loan becomes 90 days past due unless the loan is well-secured and in process of collection. Consumer loans are typically charged-off no later than 90 days past due. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual status or charged-off if collection of principal or interest is considered doubtful. All nonaccrual loans are considered impaired loans. All interest accrued but not received for loans placed on nonaccrual are reversed against interest income. Interest received on such loans is accounted for on the cash basis or recorded against principal balances, until qualifying for return to accrual. Cash basis interest recognition is only applied on nonaccrual loans with a sufficient collateral margin to ensure no doubt with respect to the collectability of principal. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and remain current for a period of time (typically six months) and future payments are reasonably assured. Accrued interest receivable is closely monitored for collectability and will be charged-off in a timely manner if deemed uncollectable. In the event that collection of principal becomes uncertain, the Company has policies in place to write-off accrued interest receivable by reversing interest income in a timely manner. Therefore, the Company has made a policy election to exclude accrued interest from the amortized cost basis and therefore excludes it from the measurement of the allowance for credit losses (“ACL”).
Allowance for Credit Losses	Allowance for Credit Losses : The ACL on loans is management's estimate of expected credit losses over the expected life of the loans at the reporting date. The ACL on loans is increased through a provision for credit losses (“PCL”) recognized in the Consolidated Statements of Operations and by recoveries of amounts previously charged off. The ACL on loans is reduced by charge-offs on loans. Loan charge-offs are recognized when Management believes the collectability of the principal balance outstanding is unlikely. Full or partial charge-offs on collateral-dependent individually analyzed loans are generally recognized when the collateral is deemed to be insufficient to support the carrying value of the loan. According to ASC 326-20-30-9, estimating expected credit losses is highly judgmental and generally will require Ponce Bank to make specific judgments. One of these specific judgments around how Ponce Bank will make or obtain reasonable and supportable forecasts of expected credit losses. Ponce Bank uses Federal Open Market Committee to obtain various forecasts for unemployment rate, national gross domestic product and the National Consumer Price Index. Ponce Bank has elected to forecast the first four quarters of the credit loss estimate and revert to a long-run average of each considered economic factor as permitted in ASC 326-20-30-9. The level of the ACL on loans is based on Management's ongoing review of all relevant information, from internal and external sources, related to past events, current conditions and reasonable forecast. Historical credit loss experience provides the basis for calculation of probability of default, loss given default, exposure at default and the estimation of expected credit losses. As discussed further below, adjustments to historical information are made for differences in specific risk characteristics, such as differences in underwriting standards, portfolio mix, delinquency level, or term, as well as for changes in environmental conditions, that may not be reflected in historical loss rates. Management employs a process and methodology to estimate the ACL on loans that evaluates both quantitative and qualitative factors. Under ASC 326-20-30-2 and 326-20-55-5, Ponce Bank should aggregate financial assets on the basis of similar risk characteristics. Management selected a Call Code segmentation, as based on the Bank's call report. Management’s criteria for determining an appropriate segmentation (1) groups loans based on similar risk characteristics; (2) allows for mapping and utilization/application of publicly available external information (Call Report Filings); (3) allows for mapping and utilization/application of publicly available external information; (4) federal call code is granular enough to accommodate enough to accommodate a “like-kind” notion, yet broad enough to maintain statistical relevance and/or a meaningful number of loan observations within material segments and (5) federal call code designation is identifiable throughout historical data sets, which is critical component of segmentation selection. Quantitative loss factors are also supplemented by certain qualitative risk factors reflecting Management's view of how losses may vary from those represented by quantitative loss rates. These qualitative risk factors include: (1) changes in lending policies, procedures and strategies including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses; (2) economic conditions such as the Bank’s market area, customer demographics, portfolio composition, along with national indicators considered impactful to the model; (3) changes in the nature and volume of the portfolio; (4) credit and lending staff/administration; (5) problem with loan trends; (6) concentrations; (7) loan review results; (8) collateral values and regulatory and business environment. Because the methodology is based upon historical experience and trends, current economic data, reasonable and supportable forecasts, as well as Management's judgment, factors may arise that result in different estimations. Deteriorating conditions or assumptions could lead to further increases in the ACL on loans. The ACL on loans is determined by an estimate of future credit losses, and ultimate losses may vary from Management's estimate.
Allowances for Credit Losses on Unfunded Commitments	Allowances for Credit Losses on Unfunded Commitments : The ACL on unfunded commitments is Management's estimate of expected credit losses over the expected credit losses over the expected contractual term (or life) in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditional cancellable by the Company. For each portfolio, estimated loss rates and funding factors are applied to the corresponding balance of unfunded commitments and the estimated loss rates applied to unfunded commitments are the same quantitative and qualitative loss rates applied to the corresponding on-balance sheet amounts in determining the ACL on loans. The estimated funding factor applied to unfunded commitments represents the likelihood that the funding will occur and is based upon the Company's average historical utilization rate each portfolio. The ACL on unfunded commitments in included in other liabilities in the Consolidated Statements of Financial Conditions. The ACL on unfunded commitments is adjusted through non-interest expense in the Consolidated Statements of Operations.
Loans Held for Sale, at Fair Value	Loans Held for Sale, at Fair Value : Loans held for sale, at fair value, include residential mortgages that were originated in accordance with secondary market pricing and underwriting standards. These loans are loans originated by the Bank’s Mortgage World division and the Company intends to sell these loans on the secondary market. Loans held for sale are carried at fair value under the fair value option accounting guidance for financial assets and financial liabilities. The gains or losses for the changes in fair value of these loans are included in income on sale of loans on the consolidated statements of operations. Interest income on mortgage loans held for sale measured under the fair value option is calculated based on the principal amount of the loan and is included in interest loans receivable on the consolidated statements of operations. At September 30, 2023 and at December 31, 2022 , 19 loans and 4 loans in the amount of $ 14.1 million and $ 2.0 million, respectively, were held for sale and accounted for under the fair value option accounting guidance for financial assets and financial liabilities.
Revenue from Contracts with Customers	Revenue from Contracts with Customers: The Company’s revenue from contracts with customers in the scope of ASC 606, Revenue from Contract with Customers , is recognized within noninterest income. ASC 606 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. Management determined the revenue streams impacted by ASC 606 included those related to service charges on deposit accounts, ATM and card fees and other services fees. The Company’s revenue recognition pattern for these revenue streams did not change from current practice. The Company's primary sources of revenue are interest income on financial assets and income from mortgage banking activities, which are explicitly excluded from the scope of ASC 606.
Transfers of Financial Assets	Transfers of Financial Assets : Transfers of financial assets are accounted for as sales when all of the components meet the definition of a participating interest and when control over the assets has been surrendered. A participating interest generally represents (1) a proportionate (pro rata) ownership interest in an entire financial asset, (2) a relationship where from the date of transfer all cash flows received from the entire financial asset are divided proportionately among the participating interest holders in an amount equal to their share of ownership, (3) the priority of cash flows has certain characteristics, including no reduction in priority, subordination of interest, or recourse to the transferor other than standard representation or warranties, and (4) no party has the right to pledge or exchange the entire financial asset unless all participating interest holders agree to pledge or exchange the entire financial asset. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Bank, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Bank does not maintain effective control over the transferred assets through either (a) an agreement to repurchase them before their maturity or (b) the ability to unilaterally cause the holder to return specific assets, other than through a clean-up call.
Premises and Equipment	Premises and Equipment : Premises include the cost of land and buildings actually owned and occupied (or to be occupied) by the Bank, its branches, or consolidated subsidiaries. Equipment includes all movable furniture, fixtures, and equipment, including automobiles and other vehicles of the Bank, its branches and consolidated subsidiaries. Premises and equipment are stated at cost, less accumulated depreciation. Depreciation is the concept of allocating the cost of fixed assets over their estimated useful lives. Depreciation is computed and charged to operations using the straight-line method over the estimated useful lives of the respective assets as follows: Years Buildings 39 Building improvements 15 - 39 Furniture, fixtures, and equipment 3 - 10 Leasehold improvements are amortized over the shorter of the improvements’ estimated economic lives or the related lease terms, including extensions expected to be exercised. Gains and losses on dispositions are recognized upon realization. Maintenance and repairs are expensed as incurred and improvements are capitalized. Leasehold improvements in process are not amortized until the assets are placed in operation.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets : Long-lived assets, including premises and leasehold improvements, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If impairment is indicated by that review, the asset is written down to its estimated fair value through a charge to noninterest expense.
Leases	Leases : The Company leases office space and certain equipment under non-cancellable operating lease agreements and determines if an arrangement is a lease at inception. The Company does not currently have any financing lease arrangements. Right of use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Right of use assets are recognized on the commencement date based on the present value of lease payments over the lease term adjusted for initial direct costs, if any, and lease incentives received or deemed probable of being received. The Company uses the rate implicit in the lease if it is readily determinable or otherwise the Company uses its incremental borrowing rate. The implicit rates of Company leases are not readily determinable and accordingly, the Company uses its incremental borrowing rate based on the information available at the commencement date for all leases. The Company's incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms and in a similar economic environment. The Company uses its FHLBNY borrowing rate based on the information available on the commencement date plus a spread of 2.50 % in determining the present value of lease payments. Lease expense is recognized on a straight-line basis over the lease term and is included in “Occupancy and equipment” in the Consolidated Statement of Operations. Some of the Company’s lease agreements include rental payments adjusted periodically for inflation which are accounted for as variable lease amounts but are not reflected as a component of the Company’s lease liability. Certain leases also require the Company to pay real estate taxes, insurance, maintenance and other operating expenses associated with the leased premises or equipment which are also not reflected as a component of the Company’s lease liability
Other Real Estate Owned	Other Real Estate Owned : Other Real Estate Owned (“OREO”) represents properties acquired through, or in lieu of, loan foreclosure or other proceedings. OREO is initially recorded at fair value, less estimated disposal costs, at the date of foreclosure, which establishes a new cost basis. After foreclosure, the properties are held for sale and are carried at the lower of cost or fair value, less estimated costs of disposal. Any write-down to fair value, at the time of transfer to OREO, is charged to the allowance for credit losses. Properties are evaluated regularly to ensure that the recorded amounts are supported by current fair values and charges against earnings are recorded as necessary to reduce the carrying amount to fair value, less estimated costs to dispose. Costs relating to the development and improvement of the property are capitalized, subject to the limit of fair value of the OREO, while costs relating to holding the property are expensed. Gains or losses are included in operations upon disposal.
Income Taxes	Income Taxes : The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income, in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that all or some portion of the deferred tax assets will not be realized. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the consolidated financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured as the largest amount of tax benefit that is more than 50 % likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest and penalties associated with unrecognized tax benefits, if any, would be classified as additional provision for income taxes in the consolidated statements of operations.
Related Party Transactions	Related Party Transactions : Directors and officers of the Company and their affiliates have been customers of and have had transactions with the Company, and it is expected that such persons will continue to have such transactions in the future. Management believes that all deposit accounts, loans, services and commitments comprising such transactions were made in the ordinary course of business, on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other customers who are not directors or officers. In the opinion of management, the transactions with related parties did not involve more than normal risk of collectability, nor favored treatment or terms, nor present other unfavorable features. Note 17 contains details regarding related party transactions.
Employee Benefit Plans	Employee Benefit Plans: The Company maintains a KSOP, an Employee Stock Ownership Plan with 401(k) provisions incorporated, a Long-Term Incentive Plan that includes grants of restricted stock units and stock options, and a Supplemental Executive Retirement Plan (the “SERP”).
KSOP, the Employee Stock Ownership Plan with 401(k) Provisions	KSOP, the Employee Stock Ownership Plan with 401(k) Provisions: Compensation expense is recorded as shares are committed to be released with a corresponding credit to unearned KSOP equity account at the average fair market value of the shares during the period and the shares become outstanding for earnings per share computations. Compensation expense is recognized ratably over the service period based upon management’s estimate of the number of shares expected to be allocated by the KSOP. The difference between the average fair market value and the cost of the shares allocated by the KSOP is recorded as an adjustment to additional paid-in-capital. Unallocated common shares held by the Company’s KSOP are shown as a reduction in stockholders’ equity and are excluded from weighted-average common shares outstanding for both basic and diluted earnings per share calculations until they are committed to be released. The 401(k) provisions provide for elective employee/participant deferrals of income. Discretionary matching, profit-sharing, and safe harbor contributions, not to exceed 4 % of employee compensation and profit-sharing contributions may be provided.
Stock Options	Stock Options: The Company recognizes the value of shared-based payment transactions as compensation costs in the financial statements over the period that an employee provides service in exchange for the award. The fair value of the share-based payments for stock options is estimated using the Black-Scholes option-pricing model. The Company accounts for forfeitures as they occur during the period.
Restricted Stock Units	Restricted Stock Units: The Company recognizes compensation cost related to restricted stock units based on the market price of the stock units at the grant date over the vesting period. The product of the number of units granted and the grant date market price of the Company’s common stock determines the fair value of restricted stock units. The Company recognizes compensation expense for the fair value of the restricted stock units on a straight-line basis over the requisite service period.
Comprehensive Income (Loss)	Comprehensive Income (Loss): Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss), which are both recognized as separate components of stockholder’s equity. Other comprehensive income (loss) includes unrealized gains and losses on securities available-for-sale.
Loss Contingencies	Loss Contingencies : Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are any such matters that will have a material effect on the operations and financial position of the Company.
Fair Value of Financial Instruments	Fair Value of Financial Instruments : Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in Note 14. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect these estimates.
Segment Reporting	Segment Reporting : Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (the “CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is the Company’s CODM. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. As such, the Company has determined that it operates as one operating segment and one reportable segment.
Loan Commitments and Related Financial Instruments	Loan Commitments and Related Financial Instruments : Financial instruments include off‑balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded.
Earnings (Loss) per Share ("EPS")	Earnings (Loss) per Share (“EPS”) : Basic EPS represents net income (loss) attributable to common shareholders divided by the basic weighted average common shares outstanding. Diluted EPS is computed by dividing net income (loss) attributable to common shareholders by the basic weighted average common shares outstanding, plus the effect of potential dilutive common stock equivalents outstanding during the period. Basic weighted common shares outstanding is weighted average common shares outstanding less weighted average unallocated ESOP shares.
Treasury Stock	Treasury Stock : Shares repurchased under the Company’s share repurchase programs were purchased in open-market transactions and are held as treasury stock. The Company accounts for treasury stock under the cost method and includes treasury stock as a component of stockholders’ equity.
Reclassification of Prior Periods Presentation	Reclassification of Prior Periods Presentation : Certain prior periods amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reporting results of operations and did not affect previously reported amounts in the Consolidated Statements of Operations. Refer to Deposits (Note 8) for the Three and Nine Months Ended September 30, 2022 for details on the reclassification.
CDFI Equitable Recovery Program	CDFI Equitable Recovery Program : On September 26, 2023, the Bank received a $ 3.7 million grant from the U.S. Treasury as part of the Community Development Financial Institutions ("CDFI") Equitable Recovery Program ("ERP") which aims to help CDFI's further their mission of helping low and low-to-moderate income communities recover from the impact of the COVID-19 pandemic.
Recently Accounting Pronouncements Adopted and Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted: In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848) . ” This ASU provides optional means and exceptions for applying GAAP to contracts, hedging relationships and other transactions that reference LIBOR or other reference rates expected to be discontinued because of the reference rate reform. The amendments in this ASU were initially effective for all entities as of March 12, 2020 through December 31, 2022. In December 2022, the FASB issued ASU 2022-06, "Reference Rate Reform (Topic 848): Deferral of the Sunset Date (Topic 848) . " This ASU extends the sunset (or expiration) date of Accounting Standards Codification (ASC) Topic 848 to December 31, 2024. This gives reporting entities two additional years to apply the accounting relief provided under ASC Topic 848 for matters related to reference rate reform. ASU 2022-06 is effective for all reporting entities immediately upon issuance and must be applied on a prospective basis. The Company is currently evaluating the impact the adoption of the standard will have on the Company's consolidated financial statements.

Nature of Business and Summar_3

Nature of Business and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Estimated Useful Lives of Assets	Premises and Equipment : Premises include the cost of land and buildings actually owned and occupied (or to be occupied) by the Bank, its branches, or consolidated subsidiaries. Equipment includes all movable furniture, fixtures, and equipment, including automobiles and other vehicles of the Bank, its branches and consolidated subsidiaries. Premises and equipment are stated at cost, less accumulated depreciation. Depreciation is the concept of allocating the cost of fixed assets over their estimated useful lives. Depreciation is computed and charged to operations using the straight-line method over the estimated useful lives of the respective assets as follows: Years Buildings 39 Building improvements 15 - 39 Furniture, fixtures, and equipment 3 - 10

Securities (Tables)

Securities (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Securities	The amortized cost, gross unrealized gains and losses, and fair value of securities at September 30, 2023 and December 31, 2022 are summarized as follows: September 30, 2023 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ 2,989 $ — $ ( 276 ) $ 2,713 Corporate Bonds 25,799 — ( 2,609 ) 23,190 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 40,646 — ( 7,657 ) 32,989 FHLMC Certificates 10,441 — ( 1,904 ) 8,537 FNMA Certificates 62,771 — ( 13,552 ) 49,219 GNMA Certificates 108 — ( 3 ) 105 Total available-for-sale securities $ 142,754 $ — $ ( 26,001 ) $ 116,753 Held-to-Maturity Securities: U.S. Agency Bonds $ 25,000 $ — $ ( 504 ) $ 24,496 Corporate Bonds 82,500 — ( 5,117 ) 77,383 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 217,632 — ( 12,198 ) 205,434 FHLMC Certificates 3,923 — ( 358 ) 3,565 FNMA Certificates 121,940 — ( 8,818 ) 113,122 SBA Certificates 20,717 147 — 20,864 Allowance for Credit Losses ( 647 ) — — — Total held-to-maturity securities $ 471,065 $ 147 $ ( 26,995 ) $ 444,864 (1) Comprised of Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Ginnie Mae (“GNMA”) issued securities. December 31, 2022 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ 2,985 $ — $ ( 296 ) $ 2,689 Corporate Bonds 25,824 — ( 2,465 ) 23,359 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 44,503 — ( 6,726 ) 37,777 FHLMC Certificates 11,310 — ( 1,676 ) 9,634 FNMA Certificates 67,199 — ( 11,271 ) 55,928 GNMA Certificates 122 — ( 4 ) 118 Total available-for-sale securities $ 151,943 $ — $ ( 22,438 ) $ 129,505 Held-to-Maturity Securities: U.S. Agency Bonds $ 35,000 $ — $ ( 380 ) $ 34,620 Corporate Bonds 82,500 57 ( 3,819 ) 78,738 Mortgage-Backed Securities: Collateralized Mortgage Obligations (1) 235,479 192 ( 5,558 ) 230,113 FHLMC Certificates 4,120 — ( 268 ) 3,852 FNMA Certificates 131,918 — ( 5,227 ) 126,691 SBA Certificates 21,803 34 — 21,837 Total held-to-maturity securities $ 510,820 $ 283 $ ( 15,252 ) $ 495,851 (1) Comprised of FHLMC, FNMA and GNMA issued securities.
Company's Securities Gross Unrealized Losses and Fair Values, Aggregated by Length of Time Individual Securities Have Been in a Continuous Unrealized Loss Position	The following table presents the Company's gross unrealized losses and fair values of its securities, aggregated by the length of time the individual securities have been in a continuous unrealized loss position, at September 30, 2023 and December 31, 2022: September 30, 2023 Securities With Gross Unrealized Losses Less Than 12 Months 12 Months or More Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ — $ — $ 2,713 $ ( 276 ) $ 2,713 $ ( 276 ) Corporate Bonds — — 23,190 ( 2,609 ) 23,190 ( 2,609 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations — — 32,989 ( 7,657 ) 32,989 ( 7,657 ) FHLMC Certificates — — 8,537 ( 1,904 ) 8,537 ( 1,904 ) FNMA Certificates — — 49,219 ( 13,552 ) 49,219 ( 13,552 ) GNMA Certificates — — 105 ( 3 ) 105 ( 3 ) Total available-for-sale securities $ — $ — $ 116,753 $ ( 26,001 ) $ 116,753 $ ( 26,001 ) Held-to-Maturity Securities: U.S. Agency Bonds $ — $ — $ 24,496 $ ( 504 ) $ 24,496 $ ( 504 ) Corporate Bonds 3,206 ( 294 ) 74,177 ( 4,823 ) 77,383 ( 5,117 ) Collateralized Mortgage Obligations 93,209 ( 4,667 ) 112,225 ( 7,531 ) 205,434 ( 12,198 ) FHLMC Certificates — — 3,565 ( 358 ) 3,565 ( 358 ) FNMA Certificates — — 113,122 ( 8,818 ) 113,122 ( 8,818 ) Total held-to-maturity securities $ 96,415 $ ( 4,961 ) $ 327,585 $ ( 22,034 ) $ 424,000 $ ( 26,995 ) December 31, 2022 Securities With Gross Unrealized Losses Less Than 12 Months 12 Months or More Total Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available-for-Sale Securities: U.S. Government Bonds $ — $ — $ 2,689 $ ( 296 ) $ 2,689 $ ( 296 ) Corporate Bonds 13,138 ( 1,186 ) 10,221 ( 1,279 ) 23,359 ( 2,465 ) Mortgage-Backed Securities: Collateralized Mortgage Obligations 4,537 ( 300 ) 33,240 ( 6,426 ) 37,777 ( 6,726 ) FHLMC Certificates — — 9,634 ( 1,676 ) 9,634 ( 1,676 ) FNMA Certificates 12,111 ( 1,230 ) 43,817 ( 10,041 ) 55,928 ( 11,271 ) GNMA Certificates 118 ( 4 ) — — 118 ( 4 ) Total available-for-sale securities $ 29,904 $ ( 2,720 ) $ 99,601 $ ( 19,718 ) $ 129,505 $ ( 22,438 ) Held-to-Maturity Securities: U.S. Agency Bonds $ 24,620 $ ( 380 ) $ — $ — $ 24,620 $ ( 380 ) Corporate Bonds 75,181 ( 3,819 ) — — 75,181 ( 3,819 ) Collateralized Mortgage Obligations 215,300 ( 5,558 ) — — 215,300 ( 5,558 ) FHLMC Certificates 3,177 ( 115 ) 675 ( 153 ) 3,852 ( 268 ) FNMA Certificates 126,691 ( 5,227 ) — — 126,691 ( 5,227 ) Total held-to-maturity securities $ 444,969 $ ( 15,099 ) $ 675 $ ( 153 ) $ 445,644 $ ( 15,252 )
Summary of Maturities of Securities	The following is a summary of maturities of securities at September 30, 2023 and December 31, 2022. Amounts are shown by contractual maturity. Because borrowers for mortgage-backed securities have the right to prepay obligations with or without prepayment penalties, at any time, these securities are included as a total within the table. September 30, 2023 Amortized Fair Cost Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 2,989 2,713 More than five years through ten years — — 2,989 2,713 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year 4,000 3,802 More than one year through five years 1,000 729 More than five years through ten years 20,799 18,659 25,799 23,190 Mortgage-Backed Securities 113,966 90,850 Total available-for-sale securities $ 142,754 $ 116,753 Held-to-Maturity Securities: U.S. Agency Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 25,000 24,496 More than five years through ten years — — 25,000 24,496 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 75,000 70,381 More than five years through ten years 7,500 7,002 82,500 77,383 Mortgage-Backed Securities 364,212 342,985 Allowance for Credit Losses ( 647 ) — Total held-to-maturity securities $ 471,065 $ 444,864 December 31, 2022 Amortized Fair Cost Value (in thousands) Available-for-Sale Securities: U.S. Government Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 2,985 2,689 More than five years through ten years — — 2,985 2,689 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 4,000 3,710 More than five years through ten years 21,824 19,649 25,824 23,359 Mortgage-Backed Securities 123,134 103,457 Total available-for-sale securities $ 151,943 $ 129,505 Held-to-Maturity Securities: U.S. Agency Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 35,000 34,620 More than five years through ten years — — 35,000 34,620 Corporate Bonds: Amounts maturing: Three months or less $ — $ — More than three months through one year — — More than one year through five years 75,000 71,328 More than five years through ten years 7,500 7,410 82,500 78,738 Mortgage-Backed Securities 393,320 382,493 Total held-to-maturity securities $ 510,820 $ 495,851
Schedule of Activity in Allowance for Credit Losses for Held-to-maturity Securities	The following table presents the activity in the allowance for credit losses for held-to-maturity securities: September 30, December 31, 2023 2022 Beginning balance $ — $ — Impact on CECL adoption 662 — Benefit for credit losses ( 15 ) — Allowance for credit losses $ 647 $ —

Mortgage Loans Held for Sale (T

Mortgage Loans Held for Sale (Tables)	9 Months Ended
	Sep. 30, 2023
Receivable, Held-for-Sale [Abstract]
Schedule of mortgage loans held for sale fair value and contractual principal balance	The following table provides the fair value and contractual principal balance outstanding of loans held for sale accounted for under the fair value options: September 30, December 31, 2023 2022 (in thousands) Mortgage loans held for sale, at fair value $ 14,103 $ 1,979 Mortgage loans held for sale, contractual principal outstanding 13,998 1,979 Fair value less unpaid principal balance $ 105 $ -

Loans Receivable and Allowanc_2

Loans Receivable and Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Summary of Loans	Loans receivable at September 30, 2023 and December 31, 2022 are summarized as follows: September 30, December 31, 2023 2022 (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 347,082 $ 343,968 Owner-Occupied 151,866 134,878 Multifamily residential 553,694 494,667 Nonresidential properties 321,472 308,043 Construction and land 411,383 185,018 Total mortgage loans 1,785,497 1,466,574 Nonmortgage loans: Business loans (1) 18,416 39,965 Consumer loans (2) 10,416 19,129 Total non-mortgage loans 28,832 59,094 Total loans, gross 1,814,329 1,525,668 Net deferred loan origination costs 692 2,051 Allowance for Credit Losses ( 27,414 ) ( 34,592 ) Loans receivable, net $ 1,787,607 $ 1,493,127 (1) As of September 30, 2023 and December 31, 2022, business loans include $ 1.1 million and $ 20.0 million, respectively, of SBA Paycheck Protection Program (“PPP”) loans. (2) As of September 30, 2023 and December 31, 2022, consumer loans include $ 9.3 million and $ 18.2 million, respectively, of microloans originated by Grain through its mobile application that is geared to the underbanked and new generations entering the financial services market and uses non-traditional underwriting methodologies.
Schedule of Credit Risk Ratings by Loan Segment	The following tables present credit risk ratings by loan segment as of September 30, 2023 and December 31, 2022: September 30, 2023 Mortgage Loans Nonmortgage Loans Construction Total 1-4 Family Multifamily Nonresidential and Land Business Consumer Loans (in thousands) Risk Rating: Pass $ 488,062 $ 553,694 $ 318,829 $ 404,726 $ 18,207 $ 10,416 $ 1,793,934 Special mention 3,129 — 2,544 — — — 5,673 Substandard 7,757 — 99 6,657 209 — 14,722 Total $ 498,948 $ 553,694 $ 321,472 $ 411,383 $ 18,416 $ 10,416 $ 1,814,329 December 31, 2022 Mortgage Loans Nonmortgage Loans Construction Total 1-4 Family Multifamily Nonresidential and Land Business Consumer Loans (in thousands) Risk Rating: Pass $ 462,126 $ 492,556 $ 307,307 $ 173,351 $ 39,965 $ 19,129 $ 1,494,434 Special mention 7,692 1,437 606 — — — 9,735 Substandard 9,028 674 130 11,667 — — 21,499 Total $ 478,846 $ 494,667 $ 308,043 $ 185,018 $ 39,965 $ 19,129 $ 1,525,668
Schedule of Aging Analysis of Loans	An aging analysis of loans, as of September 30, 2023 and December 31, 2022, is as follows: September 30, 2023 30-59 60-89 90 Days 90 Days Days Days or More Nonaccrual or More Current Past Due Past Due Past Due Total Loans Accruing (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 346,686 $ — $ — $ 396 $ 347,082 $ 396 $ — Owner-Occupied 149,732 — — 2,134 151,866 2,134 — Multifamily residential 553,694 — — — 553,694 — — Nonresidential properties 320,936 — 536 — 321,472 — — Construction and land 404,726 — — 6,657 411,383 6,657 — Nonmortgage loans: Business 18,159 48 — 209 18,416 209 — Consumer 9,969 86 361 — 10,416 — — Total $ 1,803,902 $ 134 $ 897 $ 9,396 $ 1,814,329 $ 9,396 $ — December 31, 2022 30-59 60-89 90 Days 90 Days Days Days or More Nonaccrual or More Current Past Due Past Due Past Due Total Loans Accruing (in thousands) Mortgage loans: 1-4 Family residential Investor-Owned $ 340,495 $ 1,530 $ 78 $ 1,865 $ 343,968 $ 3,061 $ — Owner-Occupied 131,510 2,553 — 815 134,878 2,987 — Multifamily residential 490,024 4,643 — — 494,667 — — Nonresidential properties 303,190 4,246 607 — 308,043 93 — Construction and land 173,351 — 4,100 7,567 185,018 7,567 — Nonmortgage loans: Business 27,657 1,466 7,869 2,973 39,965 — 2,973 Consumer 16,743 1,267 1,119 — 19,129 — — Total $ 1,482,970 $ 15,705 $ 13,773 $ 13,220 $ 1,525,668 $ 13,708 $ 2,973
Schedule of Composition of Allowance for Loan Losses and Related Recorded Investment	The following schedules detail the composition of the allowance for credit losses on loans and the related recorded investment in loans as of and for the three and nine months ended September 30, 2023 and 2022, and as of and for the year ended December 31, 2022: For the Nine Months Ended September 30, 2023 Mortgage Loans Nonmortgage Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for Credit Losses: Balance, beginning of period $ 3,863 $ 1,723 $ 8,021 $ 2,724 $ 2,683 $ 120 $ 15,458 $ 34,592 Provision (benefit) charged to expense 33 257 653 ( 20 ) 2,276 193 ( 2,029 ) 1,363 Impact of CECL adoption 766 146 ( 3,962 ) 578 ( 911 ) 236 57 ( 3,090 ) Charge-offs — — — — — — ( 6,092 ) ( 6,092 ) Recoveries — — — — — 3 638 641 Balance, end of period $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 Ending balance: individually $ — $ 71 $ — $ — $ — $ 204 $ — $ 275 Ending balance: collectively 4,662 2,055 4,712 3,282 4,048 348 8,032 27,139 Total $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 Loans: Ending balance: individually $ 396 $ 2,134 $ — $ — $ 6,657 $ 209 $ — $ 9,396 Ending balance: collectively 346,686 149,732 553,694 321,472 404,726 18,207 10,416 1,804,933 Total $ 347,082 $ 151,866 $ 553,694 $ 321,472 $ 411,383 $ 18,416 $ 10,416 $ 1,814,329 For the Three Months Ended September 30, 2023 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of period $ 4,776 $ 2,152 $ 4,738 $ 3,238 $ 3,189 $ 450 $ 9,630 $ 28,173 Provision (benefit) charged to expense ( 114 ) ( 26 ) ( 26 ) 44 859 102 ( 89 ) 750 Losses charged-off — — — — — — ( 1,592 ) ( 1,592 ) Recoveries — — — — — 3 80 83 Balance, end of period $ 4,662 $ 2,126 $ 4,712 $ 3,282 $ 4,048 $ 552 $ 8,032 $ 27,414 For the Nine Months Ended September 30, 2022 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of period $ 3,540 $ 1,178 $ 5,684 $ 2,165 $ 2,024 $ 306 $ 1,455 $ 16,352 Provision (benefit) charged to expense 25 214 1,064 296 802 ( 235 ) 9,239 11,405 Charge-offs — — — — — — ( 3,000 ) ( 3,000 ) Recoveries 156 39 — — — 94 62 351 Balance, end of period $ 3,721 $ 1,431 $ 6,748 $ 2,461 $ 2,826 $ 165 $ 7,756 $ 25,108 Ending balance: individually $ 69 $ 99 $ — $ 37 $ — $ — $ — $ 205 Ending balance: collectively 3,652 1,332 6,748 2,424 2,826 165 7,756 24,903 Total $ 3,721 $ 1,431 $ 6,748 $ 2,461 $ 2,826 $ 165 $ 7,756 $ 25,108 Loans: Ending balance: individually $ 8,352 $ 4,440 $ — $ 1,587 $ 10,660 $ 359 $ — $ 25,398 Ending balance: collectively 328,315 108,309 421,917 281,055 186,777 41,039 22,563 1,389,975 Total $ 336,667 $ 112,749 $ 421,917 $ 282,642 $ 197,437 $ 41,398 $ 22,563 $ 1,415,373 For the Three Months Ended September 30, 2022 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer Total (in thousands) Allowance for loan losses: Balance, beginning of period $ 3,607 $ 1,233 $ 6,374 $ 2,493 $ 2,262 $ 103 $ 1,463 $ 17,535 Provision (benefit) charged to expense 114 159 374 ( 32 ) 564 61 8,090 9,330 Losses charged-off — — — — — — ( 1,799 ) ( 1,799 ) Recoveries — 39 — — — 1 2 42 Balance, end of period $ 3,721 $ 1,431 $ 6,748 $ 2,461 $ 2,826 $ 165 $ 7,756 $ 25,108 For the Year Ended December 31, 2022 Mortgage Loans Nonmortgage Loans Total 1-4 1-4 Multifamily Nonresidential Construction Business Consumer For the (in thousands) Allowance for loan losses: Balance, beginning of year $ 3,540 $ 1,178 $ 5,684 $ 2,165 $ 2,024 $ 306 $ 1,455 $ 16,352 Provision (benefit) charged to expense 167 506 2,337 559 659 ( 280 ) 20,098 24,046 Charge-offs — — — — — — ( 6,660 ) ( 6,660 ) Recoveries 156 39 — — — 94 565 854 Balance, end of year $ 3,863 $ 1,723 $ 8,021 $ 2,724 $ 2,683 $ 120 $ 15,458 $ 34,592 Ending balance: individually $ 63 $ 96 $ — $ 37 $ — $ — $ — $ 196 Ending balance: collectively 3,800 1,627 8,021 2,687 2,683 120 15,458 34,396 Total $ 3,863 $ 1,723 $ 8,021 $ 2,724 $ 2,683 $ 120 $ 15,458 $ 34,592 Loans: Ending balance: individually $ 5,269 $ 4,315 $ — $ 801 $ 7,567 $ — $ — $ 17,952 Ending balance: collectively 338,699 130,563 494,667 307,242 177,451 39,965 19,129 1,507,716 Total $ 343,968 $ 134,878 $ 494,667 $ 308,043 $ 185,018 $ 39,965 $ 19,129 $ 1,525,668
Schedule of Information Relates to Impaired Loans	The following information relates to impaired loans as of and for the nine months ended September 30, 2023 and 2022 and as of and for the year ended December 31, 2022: Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and For the Nine Months Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 2,517 $ 2,081 $ 449 $ 2,530 $ 71 $ 6,478 $ 40 Multifamily residential — — — — — 958 — Nonresidential properties — — — — — 531 — Construction and land 6,650 6,657 — 6,657 — 8,438 — Nonmortgage loans: Business 209 — 209 209 204 83 — Consumer — — — — — — Total $ 9,376 $ 8,738 $ 658 $ 9,396 $ 275 $ 16,488 $ 40 Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and For the Nine Months Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 13,100 $ 11,015 $ 1,777 $ 12,792 $ 168 $ 11,440 $ 164 Multifamily residential — — — — — 789 — Nonresidential properties 1,630 1,239 348 1,587 37 2,268 38 Construction and land 10,660 10,660 — 10,660 — 5,147 16 Nonmortgage loans: Business 359 359 — 359 — 93 — Consumer — — — — — 24 — Total $ 25,749 $ 23,273 $ 2,125 $ 25,398 $ 205 $ 19,761 $ 218 Unpaid Recorded Recorded Total Average Interest Income Principal With No With Recorded Related Recorded Recognized As of and for the Year Ended Balance Allowance Allowance Investment Allowance Investment on a Cash Basis (in thousands) Mortgage loans: 1-4 Family residential $ 9,986 $ 7,827 $ 1,757 $ 9,584 $ 159 $ 11,072 $ 307 Multifamily residential — — — — — 630 — Nonresidential properties 843 457 344 801 37 1,930 30 Construction and land 7,567 7,567 — 7,567 — 6,408 — Nonmortgage loans: Business — — — — — 3 — Consumer — — — — — — — Total $ 18,396 $ 15,851 $ 2,101 $ 17,952 $ 196 $ 20,043 $ 337
Schedule of Total Exposure	Grain Technology, Inc. ("Grain") Total Exposure as of September 30, 2023 (in thousands) Receivable from Grain Microloans originated - put back to Grain (inception-to-September 30, 2023) $ 24,255 Write-downs, net of recoveries (inception-to-date as of September 30, 2023) ( 15,610 ) Cash receipts from Grain (inception-to-September 30, 2023) ( 6,819 ) Grant/reserve (inception-to-September 30, 2023) ( 1,826 ) Net receivable as of September 30, 2023 $ — Microloan receivables from Grain borrowers Grain originated loans receivable as of September 30, 2023 $ 9,318 Allowance for credit losses as of September 30, 2023 (1) ( 8,163 ) Microloans, net of allowance for credit losses as of September 30, 2023 $ 1,155 Investments Investment in Grain $ 1,000 Investment in Grain write-off ( 1,000 ) Investment in Grain as of September 30, 2023 $ — Total exposure to Grain as of September 30, 2023 $ 1,155 (1) Includes $ 0.3 million for allowance for unused commitments on the $ 2.4 million of unused commitments available to Grain borrowers reported in other liabilities in the accompanying Consolidated Statements of Financial Conditions. Excludes $ 1.6 million of security deposits by Grain originated borrowers reported in deposits in the accompanying Consolidated Statements of Financial Conditions.
Summary of Allowance for Off-Balance-Sheet Credit Losses	The following table presents the activity in the allowance for off-balance-sheet credit losses: September 30, December 31, 2023 2022 Balance at beginning of period $ 354 $ 229 Impact on CECL adoption 948 — Provision 1,893 125 Allowance for credit losses $ 3,195 $ 354

Premises and Equipment (Tables)

Premises and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Property, Plant and Equipment [Abstract]
Summary of Premises and Equipment	Premises and equipment at September 30, 2023 and December 31, 2022 are summarized as follows: September 30, December 31, 2023 2022 (in thousands) Land $ 932 $ 932 Buildings and improvements 4,717 4,717 Leasehold improvements 15,973 15,808 Furniture, fixtures and equipment 8,702 8,497 30,324 29,954 Less: accumulated depreciation and amortization ( 13,871 ) ( 12,508 ) Total premises and equipment $ 16,453 $ 17,446

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Summary of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: September 30, December 31, 2023 2022 (Dollars in thousands) Operating lease ROU assets $ 32,110 $ 33,423 Operating lease liabilities 33,459 34,532 Weighted-average remaining lease term-operating leases 12.8 years 13.5 years Weighted average discount rate-operating leases 4.9 % 4.9 %
Summary of Lease Expense and Cash Flow Information Related to Leases	The components of lease expense and cash flow information related to leases were as follows: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (Dollars in thousands) Lease Cost Operating lease cost Occupancy and equipment $ 1,029 $ 1,042 $ 3,123 $ 3,100 Operating lease cost Other operating expenses 4 1 14 2 Short-term lease cost Other operating expenses 5 — 15 6 Variable lease cost Occupancy and equipment 32 35 94 122 Total lease cost $ 1,070 $ 1,078 $ 3,246 $ 3,230
Summary of Minimum Annual Rental Payments under Terms of Leases	The Company’s minimum annual rental payments under the terms of the leases are as follows at September 30, 2023: Minimum Rental Years ended December 31: (in thousands) Remainder of 2023 $ 961 2024 3,866 2025 3,818 2026 3,668 2027 3,537 2028 3,594 Thereafter 25,474 Total Minimum payments required 44,918 Less: implied interest 11,459 Present value of lease liabilities $ 33,459

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2023
Banking And Thrifts [Abstract]
Summarized Deposits	Deposits at September 30, 2023 and December 31, 2022 are summarized as follows: September 30, December 31, 2023 2022 (in thousands) Demand $ 265,862 $ 289,149 Interest-bearing deposits: NOW/IOLA accounts 22,519 24,349 Money market accounts (1) 370,500 236,143 Reciprocal deposits 82,670 114,049 Savings accounts 117,870 130,432 Total NOW, money market, reciprocal and savings 593,559 504,973 Certificates of deposit of $250K or more (1) 122,353 106,336 Brokered certificates of deposits (2) 98,729 98,754 Listing service deposits (2) 15,180 35,813 Certificates of deposit less than $250K (1) 305,449 217,387 Total certificates of deposit 541,711 458,290 Total interest-bearing deposits 1,135,270 963,263 Total deposits $ 1,401,132 $ 1,252,412 (1) A s of December 31, 2022, $ 81.7 million of SaveBetter deposits were reclassified from money market accounts to certificates of deposits. $ 36.2 million were reclassified to Certificates of deposits of $250K or more and $ 45.5 million were reclassified to certificates of deposit less than $250K. (2) A s of September 30, 2023 and December 31, 2022, there were $ 0.3 million and $ 13.6 million, respectively, in individual listing service deposits amounting to $ 250,000 or more. All brokered certificates of deposit individually amounted to less than $ 250,000 .
Scheduled Maturities of Certificates of Deposit	At September 30, 2023 scheduled maturities of certificates of deposit were as follows: (in thousands) 2023 $ 203,736 2024 194,609 2025 51,183 2026 42,372 2027 48,257 Thereafter 1,554 $ 541,711

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Borrowed Funds FHLBNY and Correspondent Bank Advances Maturity and Call Date	Borrowed funds at September 30, 2023 and December 31, 2022 consist of the following and are summarized by maturity and call date below: September 30, December 31, 2023 2022 Scheduled Redeemable Weighted Scheduled Redeemable Weighted (Dollars in thousands) Overnight line of credit $ — $ — — % $ 6,000 $ 6,000 4.61 % Term advances ending: 2023 $ — $ — — $ 178,375 $ 178,375 4.32 2024 354,000 354,000 4.53 50,000 50,000 4.75 2025 50,000 50,000 4.41 50,000 50,000 4.41 2026 — — — — — — 2027 212,000 212,000 3.44 183,000 183,000 3.25 Thereafter 59,100 59,100 3.43 50,000 50,000 3.35 $ 675,100 $ 675,100 4.08 % $ 517,375 $ 517,375 3.90 %

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The provision (benefit) for income taxes for the three and nine months ended September 30, 2023 and 2022 consists of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Federal: Current $ 783 $ 2,265 $ 380 $ 370 Deferred 312 ( 2,750 ) 344 ( 4,047 ) 1,095 ( 485 ) 724 ( 3,677 ) State and local: Current 232 274 1,085 847 Deferred 1,818 ( 2,963 ) 1,091 ( 5,487 ) 2,050 ( 2,689 ) 2,176 ( 4,640 ) Valuation allowance ( 1,417 ) 2,354 ( 841 ) 4,061 Provision (benefit) for income taxes $ 1,728 $ ( 820 ) $ 2,059 $ ( 4,256 )
Schedule of Reconciliation of Differences Between Federal Income Tax Rate and Total Income Tax Expense	Total income tax expense differed from the amounts computed by applying the U.S. federal income tax rate of 21 % for the three and nine months ended September 30, 2023 and 2022, respectively, to income before income taxes as a result of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (in thousands) Income tax, at federal rate $ 906 $ ( 3,267 ) $ 1,027 $ ( 5,259 ) State and local tax, net of federal taxes 1,619 ( 2,125 ) 1,719 ( 3,666 ) Valuation allowance, net of the federal benefit ( 1,417 ) 2,354 ( 841 ) 4,061 Other 620 2,218 154 608 $ 1,728 $ ( 820 ) $ 2,059 $ ( 4,256 )
Schedule of Significant Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at September 30, 2023 and December 31, 2022 are presented below: September 30, December 31, 2023 2022 (in thousands) Deferred tax assets: Allowance for loan losses $ 8,509 $ 11,324 Interest on nonaccrual loans 730 317 Unrealized loss on available-for-sale securities 5,533 4,777 Amortization of intangible assets 16 32 Operating lease liabilities 10,386 11,304 Net operating losses 7,348 9,119 Charitable contribution carryforward 1,647 1,859 Compensation and benefits 1,087 562 Other 2,025 478 Total gross deferred tax assets 37,281 39,772 Deferred tax liabilities: Depreciation of premises and equipment 996 1,049 Right of use assets 9,967 10,941 Deferred loan fees 215 671 Other 15 29 Total gross deferred tax liabilities 11,193 12,690 Valuation allowance 10,104 10,945 Net deferred tax assets $ 15,984 $ 16,137

Compensation and Benefit Plans

Compensation and Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Summary of ESOP Shares	A summary of the ESOP shares as of September 30, 2023 and December 31, 2022 are as follows: September 30, 2023 December 31, 2022 (Dollars in thousands) Shares committed-to-be released 100,308 133,744 Shares allocated to participants 448,746 354,227 Unallocated shares 1,469,167 1,569,475 Total 2,018,221 2,057,446 Fair value of unallocated shares $ 11,489 $ 14,628
Schedule of Restricted Stock Units Awards Activity and Related Information	A summary of the Company’s restricted stock unit awards activity and related information for nine months ended September 30, 2023 and year ended December 31, 2022 are as follows: September 30, 2023 Number Weighted- Non-vested, beginning of year 245,840 $ 9.40 Granted — — Vested ( 4,147 ) 9.27 Forfeited — — Non-vested at March 31 241,693 $ 9.40 Granted — — Vested ( 21,235 ) 10.44 Forfeited ( 697 ) 9.15 Non-vested at June 30 219,761 $ 9.30 Granted — — Vested ( 4,186 ) 7.20 Forfeited — — Non-vested at September 30 215,575 $ 9.34 December 31, 2022 Number Weighted- Non-vested, beginning of year 237,687 $ 12.65 Conversion and reorganization 93,933 — Granted 63,715 10.44 Vested ( 149,495 ) 9.11 Forfeited — — Non-vested at December 31 245,840 $ 9.40
Schedule of Stock Option Awards Activity and Related Information	A summary of the Company’s stock option awards activity and related information for nine months ended September 30, 2023 and year ended December 31, 2022 are as follows: September 30, 2023 Options Weighted- Outstanding, beginning of year 352,621 $ 8.97 Granted — — Exercised — — Forfeited — — Outstanding at March 31 (1) 352,621 8.97 Granted — — Exercised — — Forfeited — — Outstanding at June 30 352,621 8.97 Granted — — Exercised — — Forfeited — — Outstanding at September 30 (1) 352,621 $ 8.97 Exercisable at September 30 (1) 218,433 $ 8.82 December 31, 2022 Options Weighted- Outstanding, beginning of year 203,766 $ 12.02 Conversion and reorganization 80,526 $ — Granted 68,329 10.44 Exercised — — Forfeited — — Outstanding at December 31 (1) 352,621 $ 8.97 Exercisable at December 31 (1) 190,508 $ 8.83 (1) The aggregate intrinsic value, which represents the difference between the price of the Company’s common stock at respective periods and the stated exercise price of the underlying options, was $ 0 for outstanding options and $ 0 for exercisable options at September 30, 2023 and was $ 0.1 million for outstanding options and $ 0.1 million for exercisable options December 31, 2022 .
Schedule of Fair Value of Option Grant Using Black-Scholes Option Pricing Model With Weighted Average Assumptions	The fair value of each option grant is estimated on the date of grant using Black-Scholes option pricing model with the following weighted average assumptions: For the Nine Months Ended September 30, 2023 2022 Dividend yield N/A 0.00 % Expected life N/A 6.5 years Expected volatility N/A 41.34 % Risk-free interest rate N/A 2.65 % Weighted average grant date fair value N/A $ 3.85

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Reconciliation of Number of Shares Used in Calculation of Basic and Diluted Earnings Per Common Share	The following table presents a reconciliation of the number of shares used in the calculation of basic and diluted earnings per common share: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (Dollars in thousands except share data) Net income (loss) $ 2,590 $ ( 14,738 ) $ 2,834 $ ( 20,787 ) - Common shares outstanding for basic EPS: Weighted average common shares outstanding 23,774,317 24,727,459 24,456,108 24,072,543 Less: Weighted average unallocated Employee Stock 1,502,241 1,632,600 1,535,428 1,548,066 Basic weighted average common shares outstanding 22,272,076 23,094,859 22,920,680 22,524,477 Basic earnings (loss) per common share $ 0.12 $ ( 0.64 ) $ 0.12 $ ( 0.92 ) Potential dilutive common shares: Add: Dilutive effect of restricted stock awards and stock options 77,141 — 42,276 — Diluted weighted average common shares outstanding 22,349,217 23,094,859 22,962,956 22,524,477 Diluted earnings (loss) per common share $ 0.12 $ ( 0.64 ) $ 0.12 $ ( 0.92 )

Commitments, Contingencies an_2

Commitments, Contingencies and Credit Risk (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Financial Instruments Whose Contractual Amounts Represent Credit Risk	Financial instruments whose contractual amounts represent credit risk at September 30, 2023 and December 31, 2022 are as follows: September 30, December 31, 2023 2022 (in thousands) Commitments to grant mortgage loans $ 445,152 $ 207,105 Commitments to sell loans at lock-in rates — 1,676 Unfunded commitments under lines of credit 62,114 72,530 $ 507,266 $ 281,311

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Assets Measured at Fair Value on Recurring Basis	The following tables detail the assets that are carried at fair value and measured at fair value on a recurring basis as of September 30, 2023 and December 31, 2022, and indicate the level within the fair value hierarchy utilized to determine the fair value: September 30, 2023 Description Total Level 1 Level 2 Level 3 (in thousands) Available-for-Sale Securities, at fair value: U.S. Government Bonds $ 2,713 $ 2,713 $ — $ — Corporate bonds 23,190 729 22,461 — Mortgage-Backed Securities: Collateralized Mortgage Obligations 32,989 — 32,989 — FHLMC Certificates 8,537 — 8,537 — FNMA Certificates 49,219 — 49,219 — GNMA Certificates 105 — 105 — Mortgage Loans Held for Sale, at fair value 14,103 — 14,103 — $ 130,856 $ 3,442 $ 127,414 $ — December 31, 2022 Description Total Level 1 Level 2 Level 3 (in thousands) Available-for-Sale Securities, at fair value: U.S. Government Bonds $ 2,689 $ 2,689 $ — $ — Corporate bonds 23,359 730 22,629 — Mortgage-Backed Securities: Collateralized Mortgage Obligations 37,777 — 37,777 — FHLMC Certificates 9,634 — 9,634 — FNMA Certificates 55,928 — 55,928 — GNMA Certificates 118 — 118 — Mortgage Loans Held for Sale, at fair value 1,979 — 1,979 — Derivatives from interest rate lock commitments 22 — — 22 $ 131,506 $ 3,419 $ 128,065 $ 22
Assets Measured at Fair Value on Nonrecurring Basis	The following tables detail the assets carried at fair value and measured at fair value on a nonrecurring basis as of September 30, 2023 and December 31, 2022 and indicate the fair value hierarchy utilized to determine the fair value: September 30, 2023 Total Level 1 Level 2 Level 3 (in thousands) Impaired loans $ 9,396 $ — $ — $ 9,396 December 31, 2022 Total Level 1 Level 2 Level 3 (in thousands) Impaired loans $ 17,952 $ — $ — $ 17,952
Estimated Fair Values of Financial Instruments	As of September 30, 2023 and December 31, 2022, the carrying values and estimated fair values of the Company's financial instruments were as follows: Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 Total (in thousands) September 30, 2023 Financial assets: Cash and cash equivalents $ 117,012 $ 117,012 $ — $ — $ 117,012 Available-for-sale securities, at fair value 116,753 3,442 113,311 — 116,753 Held-to-maturity securities, at amortized cost, net 471,065 — 444,864 — 444,864 Placements with banks 996 — 996 — 996 Loans held for sale, at fair value 14,103 — 14,103 — 14,103 Loans receivable, net 1,787,607 — — 1,720,035 1,720,035 Accrued interest receivable 16,624 — 16,624 — 16,624 FHLBNY stock 18,870 18,870 — — 18,870 Financial liabilities: Deposits: Demand deposits 265,862 265,862 — — 265,862 Interest-bearing deposits 593,559 593,559 — — 593,559 Certificates of deposit 541,711 — 529,450 — 529,450 Advance payments by borrowers for taxes and insurance 13,743 — 13,743 — 13,743 Borrowings 675,100 — 654,847 — 654,847 Accrued interest payable 8,385 — 8,385 — 8,385 Carrying Fair Value Measurements Amount Level 1 Level 2 Level 3 Total (in thousands) December 31, 2022 Financial assets: Cash and cash equivalents $ 54,360 $ 54,360 $ — $ — $ 54,360 Available-for-sale securities, at fair value 129,505 3,419 126,086 — 129,505 Held-to-maturity securities, at amortized cost 510,820 — 495,851 — 495,851 Placements with banks 1,494 — 1,494 — 1,494 Loans held for sale, at fair value 1,979 — 1,979 — 1,979 Loans receivable, net 1,493,127 — — 1,430,864 1,430,864 Accrued interest receivable 15,049 — 15,049 — 15,049 FHLBNY stock 24,661 24,661 — — 24,661 Financial liabilities: Deposits: Demand deposits 289,149 289,149 — — 289,149 Interest-bearing deposits 504,973 504,973 — — 504,973 Certificates of deposit 458,290 — 450,224 — 450,224 Advance payments by borrowers for taxes and insurance 9,724 — 9,724 — 9,724 Borrowings 517,375 — 503,406 — 503,406 Accrued interest payable 1,390 — 1,390 — 1,390
Schedule of Beginning and Ending Balances for Debt Securities Available-for-Sale Recognized at Fair Value On Recurring Basis	The following table reconciles, at September 30, 2023 and December 31, 2022, the beginning and ending balances for debt securities available-for-sale that are recognized at fair value on a recurring basis, in the Consolidated Statements of Financial Condition, using significant unobservable inputs. September 30, December 31, 2023 2022 (in thousands) Beginning balance $ — $ 4,929 Total loss included in earnings — ( 344 ) Transfer out of level 3 — ( 4,585 ) Ending balance $ — $ —

Regulatory Capital Requiremen_2

Regulatory Capital Requirements (Tables)	9 Months Ended
	Sep. 30, 2023
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Summary of Bank's Actual Capital Amounts and Ratios As Compared to Regulatory Requirements	The Company's and the Bank’s actual capital amounts and ratios as of September 30, 2023 and December 31, 2022 as compared to regulatory requirements are as follows: To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) September 30, 2023 Ponce Financial Group, Inc. Total Capital to Risk-Weighted Assets $ 530,056 27.07 % $ 156,624 8.00 % $ 195,780 10.00 % Tier 1 Capital to Risk-Weighted Assets 505,508 25.82 % 117,468 6.00 % 156,624 8.00 % Common Equity Tier 1 Capital Ratio 505,508 25.82 % 88,101 4.50 % 127,257 6.50 % Tier 1 Capital to Total Assets 505,508 19.90 % 101,597 4.00 % 126,996 5.00 % Ponce Bank Total Capital to Risk-Weighted Assets $ 488,108 25.10 % $ 155,543 8.00 % $ 194,429 10.00 % Tier 1 Capital to Risk-Weighted Assets 463,727 23.85 % 116,657 6.00 % 155,543 8.00 % Common Equity Tier 1 Capital Ratio 463,727 23.85 % 87,493 4.50 % 126,379 6.50 % Tier 1 Capital to Total Assets 463,727 17.51 % 105,950 4.00 % 132,437 5.00 % To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) December 31, 2022 Ponce Financial Group, Inc. Total Capital to Risk-Weighted Assets $ 530,241 33.72 % $ 125,791 8.00 % $ 157,238 10.00 % Tier 1 Capital to Risk-Weighted Assets 510,537 32.47 % 94,343 6.00 % 125,791 8.00 % Common Equity Tier 1 Capital Ratio 510,537 32.47 % 70,757 4.50 % 102,205 6.50 % Tier 1 Capital to Total Assets 510,537 26.29 % 77,665 4.00 % 97,082 5.00 % Ponce Bank Total Capital to Risk-Weighted Assets $ 476,519 30.53 % $ 124,883 8.00 % $ 156,104 10.00 % Tier 1 Capital to Risk-Weighted Assets 456,816 29.26 % 93,662 6.00 % 124,883 8.00 % Common Equity Tier 1 Capital Ratio 456,816 29.26 % 70,247 4.50 % 101,468 6.50 % Tier 1 Capital to Total Assets 456,816 20.47 % 89,264 4.00 % 111,580 5.00 %
Mortgage World Bankers Inc
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Summary of Bank's Actual Capital Amounts and Ratios As Compared to Regulatory Requirements	The Bank's minimum net worth requirements as of September 30, 2023 and December 31, 2022 are reflected below: Minimum Requirement (in thousands) September 30, 2023 HUD $ 1,000 Minimum Requirement (in thousands) December 31, 2022 HUD $ 1,000

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss	The accumulated other comprehensive loss is as follows: September 30, 2023 December 31, Change September 30, (in thousands) Unrealized losses on available-for-sale securities, net $ ( 17,860 ) $ ( 2,608 ) $ ( 20,468 ) Total $ ( 17,860 ) $ ( 2,608 ) $ ( 20,468 ) December 31, 2022 December 31, Change December 31, (in thousands) Unrealized losses on available-for-sale securities, net $ ( 1,456 ) $ ( 16,404 ) $ ( 17,860 ) Total $ ( 1,456 ) $ ( 16,404 ) $ ( 17,860 )

Transactions with Related Par_2

Transactions with Related Parties (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Schedule of Aggregate Loan Transactions with Related Parties	Aggregate loan transactions with related parties for the three and nine months ended September 30, 2023 and 2022 were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 (in thousand) Beginning balance (1) $ 8,614 $ 7,532 $ 8,318 $ 5,631 Originations (1) 50 1,223 678 5,418 Payments ( 851 ) ( 269 ) ( 1,183 ) ( 2,563 ) Ending balance $ 7,813 $ 8,486 $ 7,813 $ 8,486 (1) Includes loans held by James Perez who became a director on March 17, 2022.

Nature of Business and Summar_4

Nature of Business and Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) Loan	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) BranchOffice MortgageOffice Segment Loan	Sep. 30, 2022 USD ($)	Sep. 26, 2023 USD ($)	Dec. 31, 2022 USD ($) Loan
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch banking offices | BranchOffice			13
Number of branch mortgage loan offices | MortgageOffice			6
Interest expense	$ 16,964	$ 4,023	$ 42,848	$ 7,382
Total interest expenses increased			$ 35,500
Percentage of interest expenses			480.40%
Loans held for sale, at fair value	14,103		$ 14,103			$ 1,979
Percentage of largest amount of tax benefits likely to realize			50%
Percentage of employee discretionary matching, profit sharing and safe harbor contributions, maximum			4%
Present value of lease payments			2.50%
Number of operating segment | Segment			1
Number of reportable segment | Segment			1
Operating lease ROU assets	32,110		$ 32,110			33,423
Operating lease liabilities	$ 33,459		$ 33,459			$ 34,532
COVID-19
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Government grant amount received					$ 3,700
Mortgage World Bankers Inc
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of loan held for sale | Loan	19		19			4
Loans held for sale, at fair value	$ 14,100		$ 14,100			$ 2,000
Bronx
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch banking offices | BranchOffice			4
Manhattan
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch banking offices | BranchOffice			2
Queens
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch banking offices | BranchOffice			3
Number of branch mortgage loan offices | MortgageOffice			4
Brooklyn
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch banking offices | BranchOffice			3
Number of branch mortgage loan offices | MortgageOffice			1
Union City
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch banking offices | BranchOffice			1
New York and Bergenfield
Nature Of Business And Summary Of Significant Accounting Policies Table Of Statement [Line Items]
Number of branch mortgage loan offices | MortgageOffice			1

Nature of Business and Summar_5

Nature of Business and Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Details)	Sep. 30, 2023
Buildings
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	39 years
Minimum | Building Improvements
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	15 years
Minimum | Furniture, Fixtures and Equipment
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	3 years
Maximum | Building Improvements
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	39 years
Maximum | Furniture, Fixtures and Equipment
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	10 years

Preferred Stock Issuance; Pla_2

Preferred Stock Issuance; Plan of Conversion and Stock Offering - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands				9 Months Ended
	Jun. 07, 2022	Jan. 28, 2022	Jan. 27, 2022	Sep. 30, 2022	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Conversion Of Stock [Line Items]
Cash and cash equivalents					$ 117,012			$ 54,360
Contribution to the Ponce De Leon Foundation (Note 2)			$ 5,000	$ 4,995
Common Stock
Conversion Of Stock [Line Items]
Sale of stock, price per share		$ 10
Total outstanding shares		24,711,834		24,728,460	23,653,600	24,268,787	24,863,500	24,859,353	24,724,274	24,724,274	17,425,987
Total issued shares		24,711,834
Common Stock | PDL Community Bancorp
Conversion Of Stock [Line Items]
Conversion of stock		1.3952	977,880
Private Placement
Conversion Of Stock [Line Items]
Shares issued in transaction	225,000
Sale of stock, price per share	$ 0.01
Purchase price equal to cash	$ 225,000
ECIP investment by Treasury	$ 8,700,000
Initial dividend rate	0%
Floor dividend rate	0.50%
Ceiling dividend rate	2%
Preferred stock, liquidation preference per share					$ 1,000

Securities - Amortized Cost, Gr

Securities - Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Securities (Details) - USD ($) $ in Thousands		Sep. 30, 2023		Dec. 31, 2022		Dec. 31, 2021
Available-for-Sale Securities:
Amortized Cost		$ 142,754		$ 151,943
Gross Unrealized Losses		(26,001)		(22,438)
Fair Value		116,753		129,505
Held-to-Maturity Securities:
Amortized Cost				510,820
Amortized Cost, Allowance for Credit Losstes		(647)		0		$ 0
Amortized Cost, after Allowance for Credit Loss		471,065
Gross Unrealized Gains		147		283
Gross Unrealized Losses		(26,995)		(15,252)
Fair Value		444,864		495,851
US Agency Bonds
Held-to-Maturity Securities:
Amortized Cost		25,000		35,000
Gross Unrealized Losses		(504)		(380)
Fair Value		24,496		34,620
U.S. Government Bonds
Available-for-Sale Securities:
Amortized Cost		2,989		2,985
Gross Unrealized Losses		(276)		(296)
Fair Value		2,713		2,689
Corporate Bonds
Available-for-Sale Securities:
Amortized Cost		25,799		25,824
Gross Unrealized Losses		(2,609)		(2,465)
Fair Value		23,190		23,359
Held-to-Maturity Securities:
Amortized Cost		82,500		82,500
Gross Unrealized Gains				57
Gross Unrealized Losses		(5,117)		(3,819)
Fair Value		77,383		78,738
Collateralized Mortgage Obligations
Available-for-Sale Securities:
Amortized Cost		40,646	[1]	44,503	[2]
Gross Unrealized Losses		(7,657)	[1]	(6,726)	[2]
Fair Value		32,989	[1]	37,777	[2]
Held-to-Maturity Securities:
Amortized Cost		217,632	[1]	235,479	[2]
Gross Unrealized Gains	[2]			192
Gross Unrealized Losses		(12,198)	[1]	(5,558)	[2]
Fair Value		205,434	[1]	230,113	[2]
FHLMC Certificates
Available-for-Sale Securities:
Amortized Cost		10,441		11,310
Gross Unrealized Losses		(1,904)		(1,676)
Fair Value		8,537		9,634
Held-to-Maturity Securities:
Amortized Cost		3,923		4,120
Gross Unrealized Losses		(358)		(268)
Fair Value		3,565		3,852
FNMA Certificates
Available-for-Sale Securities:
Amortized Cost		62,771		67,199
Gross Unrealized Losses		(13,552)		(11,271)
Fair Value		49,219		55,928
Held-to-Maturity Securities:
Amortized Cost		121,940		131,918
Gross Unrealized Losses		(8,818)		(5,227)
Fair Value		113,122		126,691
GNMA Certificates
Available-for-Sale Securities:
Amortized Cost		108		122
Gross Unrealized Losses		(3)		(4)
Fair Value		105		118
SBA Certificates
Held-to-Maturity Securities:
Amortized Cost		20,717		21,803
Gross Unrealized Gains		147		34
Fair Value		$ 20,864		$ 21,837
[1] Comprised of Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Ginnie Mae (“GNMA”) issued securities. Comprised of FHLMC, FNMA and GNMA issued securities.

Securities - Additional Informa

Securities - Additional Information (Details)	9 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($) Security	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) Security
Schedule Of Available For Sale Securities [Line Items]
Available For Sale Securities | Security	40		42
Held to maturity | Security	33		34
Sale of Held - to maturity Securities	$ 0		$ 0
Sale of available-for-sale securities	$ 0		$ 0
Number of available-for-sale securities matured or called | Security			2
Number of held to maturity securities matured or called | Security	1
Available-for-sale securities matured			$ 5,400,000
Held-to-maturity securities matured	$ 10,000,000
Purchases of available-for-sale securities	0		58,400,000
Purchases of Held-to-maturity securities	$ 0	$ 501,942,000	$ 528,900,000
Number of available-for-sale securities with unrealized loss positions | Security	40		42
Number of held-to-maturity securities with unrealized loss positions | Security	30		27
Held to maturity securities, amortized costs	$ 471,065,000		$ 510,820,000
Available-for-sale securities, at fair value	116,753,000		129,505,000
FRBNY
Schedule Of Available For Sale Securities [Line Items]
Held to maturity securities, amortized costs	$ 189,900,000
Number of held-to-maturity securities | Security	14
Number of available-for-sale securities | Security	26
Available for sale securities fair value	$ 90,700,000
FHLBNY
Schedule Of Available For Sale Securities [Line Items]
Held to maturity securities, amortized costs			$ 194,900,000
Number of held-to-maturity securities | Security			6
Available-for-sale securities, at fair value			$ 0

Securities - Company's Securiti

Securities - Company's Securities' Gross Unrealized Losses and Fair Values, Aggregated by Length of Time Individual Securities Have Been in a Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Available-for-Sale Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value		$ 29,904
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses		(2,720)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	$ 116,753	99,601
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(26,001)	(19,718)
Securities With Gross Unrealized Losses, Total Fair Value	116,753	129,505
Securities With Gross Unrealized Losses, Total Unrealized Losses	(26,001)	(22,438)
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value	96,415	444,969
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses	(4,961)	(15,099)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	327,585	675
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(22,034)	(153)
Securities With Gross Unrealized Losses, Total Fair Value	424,000	445,644
Securities With Gross Unrealized Losses, Total Unrealized Losses	(26,995)	(15,252)
U.S. Government Bonds
Available-for-Sale Securities:
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	2,713	2,689
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(276)	(296)
Securities With Gross Unrealized Losses, Total Fair Value	2,713	2,689
Securities With Gross Unrealized Losses, Total Unrealized Losses	(276)	(296)
Corporate Bonds
Available-for-Sale Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value		13,138
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses		(1,186)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	23,190	10,221
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(2,609)	(1,279)
Securities With Gross Unrealized Losses, Total Fair Value	23,190	23,359
Securities With Gross Unrealized Losses, Total Unrealized Losses	(2,609)	(2,465)
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value	3,206	75,181
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses	(294)	(3,819)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	74,177
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(4,823)
Securities With Gross Unrealized Losses, Total Fair Value	77,383	75,181
Securities With Gross Unrealized Losses, Total Unrealized Losses	(5,117)	(3,819)
US Agency Bonds
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value		24,620
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses		(380)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	24,496
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(504)
Securities With Gross Unrealized Losses, Total Fair Value	24,496	24,620
Securities With Gross Unrealized Losses, Total Unrealized Losses	(504)	(380)
Collateralized Mortgage Obligations
Available-for-Sale Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value		4,537
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses		(300)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	32,989	33,240
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(7,657)	(6,426)
Securities With Gross Unrealized Losses, Total Fair Value	32,989	37,777
Securities With Gross Unrealized Losses, Total Unrealized Losses	(7,657)	(6,726)
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value	93,209	215,300
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses	(4,667)	(5,558)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	112,225
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(7,531)
Securities With Gross Unrealized Losses, Total Fair Value	205,434	215,300
Securities With Gross Unrealized Losses, Total Unrealized Losses	(12,198)	(5,558)
FHLMC Certificates
Available-for-Sale Securities:
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	8,537	9,634
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(1,904)	(1,676)
Securities With Gross Unrealized Losses, Total Fair Value	8,537	9,634
Securities With Gross Unrealized Losses, Total Unrealized Losses	(1,904)	(1,676)
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value		3,177
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses		(115)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	3,565	675
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(358)	(153)
Securities With Gross Unrealized Losses, Total Fair Value	3,565	3,852
Securities With Gross Unrealized Losses, Total Unrealized Losses	(358)	(268)
FNMA Certificates
Available-for-Sale Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value		12,111
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses		(1,230)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	49,219	43,817
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(13,552)	(10,041)
Securities With Gross Unrealized Losses, Total Fair Value	49,219	55,928
Securities With Gross Unrealized Losses, Total Unrealized Losses	(13,552)	(11,271)
Held-to-Maturity Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value		126,691
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses		(5,227)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	113,122
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(8,818)
Securities With Gross Unrealized Losses, Total Fair Value	113,122	126,691
Securities With Gross Unrealized Losses, Total Unrealized Losses	(8,818)	(5,227)
GNMA Certificates
Available-for-Sale Securities:
Securities With Gross Unrealized Losses Less Than 12 Months, Fair Value		118
Securities With Gross Unrealized Losses Less Than 12 Months, Unrealized Losses		(4)
Securities With Gross Unrealized Losses 12 Months or More, Fair Value	105
Securities With Gross Unrealized Losses 12 Months or More, Unrealized Losses	(3)
Securities With Gross Unrealized Losses, Total Fair Value	105	118
Securities With Gross Unrealized Losses, Total Unrealized Losses	$ (3)	$ (4)

Securities - Summary of Maturit

Securities - Summary of Maturities of Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Available-for-Sale Securities:
Available-for-Sale Securities, Amortized Cost	$ 142,754	$ 151,943
Available-for-sale securities, at fair value	116,753	129,505
Held-to-Maturity Securities:
Held To Maturity Securities, Amortized Cost		510,820
Allowance for Credit Losses	(647)
Held To Maturity Securities, Amortized Cost, After Allowance for Credit Losses	471,065
Held-to-maturity securities, at amortized cost ,fair value	444,864	495,851
Corporate Bonds
Available-for-Sale Securities:
Available-for-Sale Securities After three months through one year, Amortized Cost	4,000
Available-for-Sale Securities After one year through five years, Amortized Cost	1,000	4,000
Available-for-Sale Securities After five years through ten years, Amortized Cost	20,799	21,824
Available-for-Sale Securities, Amortized Cost	25,799	25,824
Available-for-Sale Securities After three months through one year, Fair Value	3,802
Available-for-Sale Securities After one year through five years, Amortized Cost	729	3,710
Available-for-Sale Securities After five years through ten years, Amortized Cost	18,659	19,649
Available-for-sale securities, at fair value	23,190	23,359
Held-to-Maturity Securities:
Held-to-Maturity Securities, More than one year through five years, Amortized Cost	75,000	75,000
Held-to-Maturity Securities, More than five years through ten years, Amortized Cost	7,500	7,500
Held To Maturity Securities, Amortized Cost	82,500	82,500
Held-to-Maturity Securities, More than one year through five years, Fair Value	70,381	71,328
Held-to-Maturity Securities, More than five years through ten years, Fair Value	7,002	7,410
Held-to-maturity securities, at amortized cost ,fair value	77,383	78,738
U.S. Government Bonds
Available-for-Sale Securities:
Available-for-Sale Securities After one year through five years, Amortized Cost	2,989	2,985
Available-for-Sale Securities, Amortized Cost	2,989	2,985
Available-for-Sale Securities After one year through five years, Amortized Cost	2,713	2,689
Available-for-sale securities, at fair value	2,713	2,689
Mortgage-Backed Securities
Available-for-Sale Securities:
Available-for-Sale Securities, Amortized Cost	113,966	123,134
Available-for-sale securities, at fair value	90,850	103,457
Held-to-Maturity Securities:
Held To Maturity Securities, Amortized Cost	364,212	393,320
Held-to-maturity securities, at amortized cost ,fair value	342,985	382,493
FHLMC Certificates
Available-for-Sale Securities:
Available-for-Sale Securities, Amortized Cost	10,441	11,310
Available-for-sale securities, at fair value	8,537	9,634
Held-to-Maturity Securities:
Held-to-maturity securities, at amortized cost ,fair value	3,565	3,852
US Agency Bonds
Held-to-Maturity Securities:
Held-to-Maturity Securities, More than one year through five years, Amortized Cost	25,000	35,000
Held To Maturity Securities, Amortized Cost	25,000	35,000
Held-to-Maturity Securities, More than one year through five years, Fair Value	24,496	34,620
Held-to-maturity securities, at amortized cost ,fair value	$ 24,496	$ 34,620

Securities - Schedule of Activi

Securities - Schedule of Activity in Allowance for Credit Losses for Held-to-maturity Securities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 0	$ 0
Impact on CECL adoption	662	0
Provision for credit losses	(15)	0
Ending Balance	$ 647	$ 0

Mortgage Loans Held for Sale -

Mortgage Loans Held for Sale - Schedule of Fair Value And Contractual Principal Balance Outstanding Of Loans Held For Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Receivable, Held-for-Sale [Abstract]
Mortgage loans held for sale, at fair value	$ 14,103	$ 1,979
Mortgage loans held for sale, contractual principal outstanding	13,998	1,979
Fair value less unpaid principal balance	$ 105	$ 0

Mortgage Loans Held for Sale _2

Mortgage Loans Held for Sale - Additional Information (Details) $ in Thousands	Sep. 30, 2023 USD ($) Loan	Dec. 31, 2022 USD ($) Loan
Mortgage Loans Held for Sale[Line Item]
Mortgage loans held for sale, at fair value	$ 14,103	$ 1,979
Mortage loans held for sale	13,998	1,979
Mortgage World Bankers Inc
Mortgage Loans Held for Sale[Line Item]
Mortgage loans held for sale, at fair value	$ 14,100	$ 2,000
Number of loan held for sale | Loan	19	4
Financing Receivables, 90 Days or More Past Due
Mortgage Loans Held for Sale[Line Item]
Mortage loans held for sale	$ 6,800	$ 0

Loans Receivable and Allowanc_3

Loans Receivable and Allowance for Credit Losses - Summary of Loans (Details) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		$ 1,814,329	$ 1,525,668
Net deferred loan origination costs		692	2,051
Allowance for Credit Losses		(27,414)	(34,592)
Loans receivable, net		1,787,607	1,493,127
Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		553,694	494,667
Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		321,472	308,043
Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		411,383	185,018
Business Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		18,416	39,965
Consumer Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		10,416	19,129
Mortgage Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		1,785,497	1,466,574
Mortgage Loans | 1-4 Family Residential Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		347,082	343,968
Mortgage Loans | 1-4 Family Residential Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		151,866	134,878
Mortgage Loans | Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		553,694	494,667
Mortgage Loans | Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		321,472	308,043
Mortgage Loans | Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		411,383	185,018
Non-mortgage Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross		28,832	59,094
Non-mortgage Loans | Business Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross	[1]	18,416	39,965
Non-mortgage Loans | Consumer Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total loans, gross	[2]	$ 10,416	$ 19,129
[1] As of September 30, 2023 and December 31, 2022, business loans include $ 1.1 million and $ 20.0 million, respectively, of SBA Paycheck Protection Program (“PPP”) loans. As of September 30, 2023 and December 31, 2022, consumer loans include $ 9.3 million and $ 18.2 million, respectively, of microloans originated by Grain through its mobile application that is geared to the underbanked and new generations entering the financial services market and uses non-traditional underwriting methodologies.

Loans Receivable and Allowanc_4

Loans Receivable and Allowance for Credit Losses - Summary of Loans (Parenthetical) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	$ 1,814,329	$ 1,525,668
Business Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	18,416	39,965
Business Loans | PPP Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	1,100	20,000
Consumer Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	10,416	19,129
Consumer Loans | PPP Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	$ 9,300	$ 18,200

Loans Receivable and Allowanc_5

Loans Receivable and Allowance for Credit Losses - Additional Information (Details) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2023 USD ($) Loan	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) Loan	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) Loan	Dec. 31, 2021 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Restructured loans | Loan						0
Number of troubled debt restructured loans | Loan		21		21		23
Troubled debt restructured loans		$ 5,900		$ 5,900		$ 6,600
Troubled debt restructured loan, accrual status		5,200		5,200		4,200
Impairment reserves		275	$ 205	275	$ 205	196
Loans before net deferred loan origination cost and allowance for losses on loan		1,814,329		1,814,329		1,525,668
Aggregate balance of grain		9,318		9,318
Allowance for credit losses	[1]	(8,163)		(8,163)
Microloans, net of allowance for loan losses		1,155		1,155
Microloans originated - put back to Grain		24,255		24,255
Grain Write-Downs		15,610		15,610
Cash Receipts From Grain		6,819		6,819
Grant/reserve (inception-to-September 30, 2023)		(1,826)		(1,826)
Investment in Grain wrote-off				(1,000)
Exposure to Grain		1,155		1,155
Loans receivable, allowance for loan losses		27,414		27,414		34,592
Loans receivable, net		1,787,607		1,787,607		1,493,127
Grain write-off and write-down		(69)	$ 8,881	(1,329)	18,455
Allowance for off-balance sheet credit losses		$ 3,195		$ 3,195		354	$ 229
Accounting Standards Update 2022-02
Accounts, Notes, Loans and Financing Receivable [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]		true		true
Change in accounting principle, accounting standards update, adoption date		Jan. 01, 2023		Jan. 01, 2023
Construction Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan		$ 411,383		$ 411,383		$ 185,018
Provision for Contingencies
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for off-balance-sheet credit loss				1,900
Other Liabilities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for off-balance sheet credit losses		3,200		3,200
Grain Technologies LLC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Micro loan credit limit		1,500		$ 1,500
Number of micro loan outstanding | Loan				16,687		27,886
Aggregate balance of grain		9,300		$ 9,300		$ 18,200
Allowance for credit losses		(8,100)		(8,100)		(15,400)
Microloans, net of allowance for loan losses		1,200		1,200		2,800
Microloans originated - put back to Grain		24,300		24,300
Grain Write-Downs		(15,600)		(15,600)
Cash Receipts From Grain		6,800		6,800
Grant/reserve (inception-to-September 30, 2023)		(1,800)		(1,800)
Unused commitments available to borrowers		2,400		2,400
Security deposits by borrowers		1,600		1,600
Investment in Grain wrote-off						$ (1,000)
Exposure to Grain		$ 1,200		1,200
Grain recoveries				1,300
Payments received from Grain				$ 700
Grain write-off and write-down					$ 18,500
Grain Technologies LLC | Microloans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of micro loan outstanding | Loan				45,322
Mortgage World Bankers Inc
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan held for sale | Loan		19		19		4
Troubled Debt Restructured Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impairment reserves						$ 200
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Strong Pass Loans to new or existing borrowers collateralized percentage		90%		90%
[1] Includes $ 0.3 million for allowance for unused commitments on the $ 2.4 million of unused commitments available to Grain borrowers reported in other liabilities in the accompanying Consolidated Statements of Financial Conditions. Excludes $ 1.6 million of security deposits by Grain originated borrowers reported in deposits in the accompanying Consolidated Statements of Financial Conditions.

Loans Receivable and Allowanc_6

Loans Receivable and Allowance for Credit Losses - Credit Risk Ratings by Loan Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	$ 1,814,329	$ 1,525,668
1-4 Family
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	498,948	478,846
Multifamily
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	553,694	494,667
Nonresidential
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	321,472	308,043
Construction and Land
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	411,383	185,018
Business Loans
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	18,416	39,965
Consumer
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	10,416	19,129
Pass
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	1,793,934	1,494,434
Pass | 1-4 Family
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	488,062	462,126
Pass | Multifamily
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	553,694	492,556
Pass | Nonresidential
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	318,829	307,307
Pass | Construction and Land
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	404,726	173,351
Pass | Business Loans
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	18,207	39,965
Pass | Consumer
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	10,416	19,129
Special Mention
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	5,673	9,735
Special Mention | 1-4 Family
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	3,129	7,692
Special Mention | Multifamily
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan		1,437
Special Mention | Nonresidential
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	2,544	606
Substandard
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	14,722	21,499
Substandard | 1-4 Family
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	7,757	9,028
Substandard | Multifamily
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan		674
Substandard | Nonresidential
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	99	130
Substandard | Construction and Land
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	6,657	$ 11,667
Substandard | Business Loans
Financing Receivable Recorded Investment [Line Items]
Loans before net deferred loan origination cost and allowance for losses on loan	$ 209

Loans Receivable and Allowanc_7

Loans Receivable and Allowance for Credit Losses - Aging Analysis of Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	$ 1,814,329	$ 1,525,668
Nonaccrual Loans	9,396	13,708
90 Days or More Accruing		2,973
1-4 Family Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	347,082	343,968
Nonaccrual Loans	396	3,061
1-4 Family Residential Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	151,866	134,878
Nonaccrual Loans	2,134	2,987
Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	553,694	494,667
Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	321,472	308,043
Nonaccrual Loans		93
Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	411,383	185,018
Nonaccrual Loans	6,657	7,567
Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	1,803,902	1,482,970
Current | 1-4 Family Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	346,686	340,495
Current | 1-4 Family Residential Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	149,732	131,510
Current | Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	553,694	490,024
Current | Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	320,936	303,190
Current | Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	404,726	173,351
Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	134	15,705
Financial Asset, 30 to 59 Days Past Due | 1-4 Family Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due		1,530
Financial Asset, 30 to 59 Days Past Due | 1-4 Family Residential Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due		2,553
Financial Asset, 30 to 59 Days Past Due | Multifamily Residential
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due		4,643
Financial Asset, 30 to 59 Days Past Due | Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due		4,246
Financing Receivables, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	897	13,773
Financing Receivables, 60 to 89 Days Past Due | 1-4 Family Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due		78
Financing Receivables, 60 to 89 Days Past Due | Nonresidential Properties
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	536	607
Financing Receivables, 60 to 89 Days Past Due | Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due		4,100
Financing Receivables, 90 Days or More Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	9,396	13,220
Financing Receivables, 90 Days or More Past Due | 1-4 Family Investor Owned
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	396	1,865
Financing Receivables, 90 Days or More Past Due | 1-4 Family Residential Owner-Occupied
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	2,134	815
Financing Receivables, 90 Days or More Past Due | Construction and Land
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	6,657	7,567
Business Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	18,416	39,965
Nonaccrual Loans	209
90 Days or More Accruing		2,973
Business Loans | Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	18,159	27,657
Business Loans | Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	48	1,466
Business Loans | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due		7,869
Business Loans | Financing Receivables, 90 Days or More Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	209	2,973
Consumer
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	10,416	19,129
Consumer | Current
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	9,969	16,743
Consumer | Financial Asset, 30 to 59 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	86	1,267
Consumer | Financing Receivables, 60 to 89 Days Past Due
Financing Receivable Recorded Investment Past Due [Line Items]
Total Past Due	$ 361	$ 1,119

Loans Receivable and Allowanc_8

Loans Receivable and Allowance for Credit Losses - Composition of Allowance for Loan Losses and Related Recorded Investment in Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Jun. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	$ 28,173	$ 17,535	$ 34,592	$ 34,592	$ 16,352	$ 16,352
Provision (benefit) charged to expense	750	9,330		1,363	11,405	24,046
Impact of CECL adoption				(3,090)
Charge-offs	(1,592)	(1,799)		(6,092)	(3,000)	(6,660)
Recoveries	83	42		641	351	854
Balance, end of period	27,414	25,108	28,173	27,414	25,108	34,592
Ending balance: individually evaluated for impairment	275	205		275	205	196
Ending balance: collectively evaluated for impairment	27,139	24,903		27,139	24,903	34,396
Ending balance: individually evaluated for impairment	9,396	25,398		9,396	25,398	17,952
Ending balance: collectively evaluated for impairment	1,804,933	1,389,975		1,804,933	1,389,975	1,507,716
Total	1,814,329	1,415,373		1,814,329	1,415,373	1,525,668
1-4 Family Investor Owned
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	4,776	3,607	3,863	3,863	3,540	3,540
Provision (benefit) charged to expense	114	(114)		33	(25)	167
Impact of CECL adoption				766
Recoveries					156	156
Balance, end of period	4,662	3,721	4,776	4,662	3,721	3,863
Ending balance: individually evaluated for impairment		69			69	63
Ending balance: collectively evaluated for impairment	4,662	3,652		4,662	3,652	3,800
Ending balance: individually evaluated for impairment	396	8,352		396	8,352	5,269
Ending balance: collectively evaluated for impairment	346,686	328,315		346,686	328,315	338,699
Total	347,082	336,667		347,082	336,667	343,968
1-4 Family Owner-Occupied
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	2,152	1,233	1,723	1,723	1,178	1,178
Provision (benefit) charged to expense	26	159		257	214	506
Impact of CECL adoption				146
Recoveries		39			39	39
Balance, end of period	2,126	1,431	2,152	2,126	1,431	1,723
Ending balance: individually evaluated for impairment	71	99		71	99	96
Ending balance: collectively evaluated for impairment	2,055	1,332		2,055	1,332	1,627
Ending balance: individually evaluated for impairment	2,134	4,440		2,134	4,440	4,315
Ending balance: collectively evaluated for impairment	149,732	108,309		149,732	108,309	130,563
Total	151,866	112,749		151,866	112,749	134,878
Multifamily
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	4,738	6,374	8,021	8,021	5,684	5,684
Provision (benefit) charged to expense	26	374		653	1,064	2,337
Impact of CECL adoption			(3,962)
Balance, end of period	4,712	6,748	4,738	4,712	6,748	8,021
Ending balance: collectively evaluated for impairment	4,712	6,748		4,712	6,748	8,021
Ending balance: collectively evaluated for impairment	553,694	421,917		553,694	421,917	494,667
Total	553,694	421,917		553,694	421,917	494,667
Nonresidential
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	3,238	2,493	2,724	2,724	2,165	2,165
Provision (benefit) charged to expense	(44)	32		(20)	296	559
Impact of CECL adoption				578
Balance, end of period	3,282	2,461	3,238	3,282	2,461	2,724
Ending balance: individually evaluated for impairment		37			37	37
Ending balance: collectively evaluated for impairment	3,282	2,424		3,282	2,424	2,687
Ending balance: individually evaluated for impairment		1,587			1,587	801
Ending balance: collectively evaluated for impairment	321,472	281,055		321,472	281,055	307,242
Total	321,472	282,642		321,472	282,642	308,043
Construction and Land
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	3,189	2,262	2,683	2,683	2,024	2,024
Provision (benefit) charged to expense	859	564		2,276	802	659
Impact of CECL adoption				(911)
Balance, end of period	4,048	2,826	3,189	4,048	2,826	2,683
Ending balance: collectively evaluated for impairment	4,048	2,826		4,048	2,826	2,683
Ending balance: individually evaluated for impairment	6,657	10,660		6,657	10,660	7,567
Ending balance: collectively evaluated for impairment	404,726	186,777		404,726	186,777	177,451
Total	411,383	197,437		411,383	197,437	185,018
Business Loans
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	450	103	120	120	306	306
Provision (benefit) charged to expense	102	(61)		193	(235)	(280)
Impact of CECL adoption				236
Recoveries	3	1		3	94	94
Balance, end of period	552	165	450	552	165	120
Ending balance: individually evaluated for impairment	204			204
Ending balance: collectively evaluated for impairment	348	165		348	165	120
Ending balance: individually evaluated for impairment	209	359		209	359
Ending balance: collectively evaluated for impairment	18,207	41,039		18,207	41,039	39,965
Total	18,416	41,398		18,416	41,398	39,965
Consumer
Financing Receivable Allowance For Credit Losses [Line Items]
Balance, beginning of period	9,630	1,463	15,458	15,458	1,455	1,455
Provision (benefit) charged to expense	(89)	8,090		(2,029)	9,239	20,098
Impact of CECL adoption				57
Charge-offs	(1,592)	(1,799)		(6,092)	(3,000)	(6,660)
Recoveries	80	2		638	62	565
Balance, end of period	8,032	7,756	$ 9,630	8,032	7,756	15,458
Ending balance: collectively evaluated for impairment	8,032	7,756		8,032	7,756	15,458
Ending balance: collectively evaluated for impairment	10,416	22,563		10,416	22,563	19,129
Total	$ 10,416	$ 22,563		$ 10,416	$ 22,563	$ 19,129

Loans Receivable and Allowanc_9

Loans Receivable and Allowance for Credit Losses - Information Relates to Impaired Loans (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	$ 9,376	$ 25,749	$ 18,396
Recorded Investment With No Allowance	8,738	23,273	15,851
Recorded Investment With Allowance	658	2,125	2,101
Total Recorded Investment	9,396	25,398	17,952
Related Allowance	275	205	196
Average Recorded Investment	16,488	19,761	20,043
Interest Income Recognized on Cash Basis	40	218	337
1-4 Family Residential
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	2,517	13,100	9,986
Recorded Investment With No Allowance	2,081	11,015	7,827
Recorded Investment With Allowance	449	1,777	1,757
Total Recorded Investment	2,530	12,792	9,584
Related Allowance	71	168	159
Average Recorded Investment	6,478	11,440	11,072
Interest Income Recognized on Cash Basis	40	164	307
Multifamily Residential
Financing Receivable Impaired [Line Items]
Average Recorded Investment	958	789	630
Nonresidential Properties
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance		1,630	843
Recorded Investment With No Allowance		1,239	457
Recorded Investment With Allowance		348	344
Total Recorded Investment		1,587	801
Related Allowance		37	37
Average Recorded Investment	531	2,268	1,930
Interest Income Recognized on Cash Basis	38		30
Construction and Land
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	6,650	10,660	7,567
Recorded Investment With No Allowance	6,657	10,660	7,567
Total Recorded Investment	6,657	10,660	7,567
Average Recorded Investment	8,438	5,147	6,408
Interest Income Recognized on Cash Basis	16
Business Loans
Financing Receivable Impaired [Line Items]
Unpaid Contractual Principal Balance	209	359
Recorded Investment With No Allowance		359
Recorded Investment With Allowance	209
Total Recorded Investment	209	359
Related Allowance	204
Average Recorded Investment	$ 83	93	$ 3
Consumer
Financing Receivable Impaired [Line Items]
Average Recorded Investment		$ 24

Loans Receivable and Allowan_10

Loans Receivable and Allowance for Credit Losses - Schedule of Total Exposure (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Receivable from Grain
Microloans originated - put back to Grain (inception-to-September 30, 2023)	$ 24,255
Write-downs, net of recoveries (inception-to-date as of September 30, 2023)	(15,610)
Cash receipts from Grain (inception-to-September 30, 2023)	(6,819)
Grant/reserve (inception-to-September 30, 2023)	(1,826)
Microloan receivables from Grain borrowers
Grain originated loans receivable as of September 30, 2023	9,318
Allowance for credit losses as of September 30, 2023	(8,163)	[1]
Microloans, net of allowance for credit losses as of September 30, 2023	1,155
Investments
Investment in Grain	1,000
Investment in Grain wrote-off	(1,000)
Total exposure to Grain as of September 30, 2023	$ 1,155
[1] Includes $ 0.3 million for allowance for unused commitments on the $ 2.4 million of unused commitments available to Grain borrowers reported in other liabilities in the accompanying Consolidated Statements of Financial Conditions. Excludes $ 1.6 million of security deposits by Grain originated borrowers reported in deposits in the accompanying Consolidated Statements of Financial Conditions.

Loans Receivable and Allowan_11

Loans Receivable and Allowance for Credit Losses - Schedule of Total Exposure (Parenthetical) (Details) $ in Millions	Sep. 30, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Security deposits	$ 1.6
Other Liabilities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for unused commitments	0.3
Allowance for unused commitments available to grain borrowers	$ 2.4

Loans Receivable and Allowan_12

Loans Receivable and Allowance for Credit Losses - Summary of Allowance for Off-Balance-Sheet Credit Losses (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Off-Balance-Sheet, Credit Loss, Liability [Abstract]
Balance at beginning of period	$ 354	$ 229
Impact on CECL adoption	948
Provision	1,893	125
Allowance for credit losses	$ 3,195	$ 354

Summary of Premises and Equipme

Summary of Premises and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 30,324	$ 29,954
Less: accumulated depreciation and amortization	(13,871)	(12,508)
Total premises and equipment	16,453	17,446
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	932	932
Buildings and Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	4,717	4,717
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	15,973	15,808
Furniture, Fixtures and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 8,702	$ 8,497

Premises and Equipment - Additi

Premises and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Property Plant And Equipment [Line Items]
Depreciation and amortization expense, excluding ROU assets portion	$ 0.4	$ 0.4	$ 1.4	$ 1.4

Leases - Additional Information

Leases - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 Lease
Lessee, Lease, Description [Line Items]
Operating lease, description	Our leases have remaining lease terms ranging from less than one year to approximately 15 years, none of which has a renewal option reasonably certain of exercise, which has been reflected in the Company’s calculation of lease term.
Lessee, non-cancelable operating lease agreements expiration year	2038
Lease expiration year	2038
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, remaining lease terms	15 years
Branches and Office Spaces
Lessee, Lease, Description [Line Items]
Number of operating leases	16
Equipment
Lessee, Lease, Description [Line Items]
Number of operating leases	5

Leases - Summary of Supplementa

Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease ROU assets	$ 32,110	$ 33,423
Operating lease liabilities	$ 33,459	$ 34,532
Weighted-average remaining lease term-operating leases	12 years 9 months 18 days	13 years 6 months
Weighted average discount rate-operating leases	4.90%	4.90%

Leases - Summary of Lease Expen

Leases - Summary of Lease Expense and Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lessee, Lease, Description [Line Items]
Total lease cost	$ 1,070	$ 1,078	$ 3,246	$ 3,230
Occupancy and equipment
Lessee, Lease, Description [Line Items]
Operating lease cost	1,029	1,042	3,123	3,100
Variable lease cost	32	35	94	122
Other operating expenses
Lessee, Lease, Description [Line Items]
Operating lease cost	4	1	14	2
Short-term lease cost	$ 5	$ 0	$ 15	$ 6

Leases - Summary of Minimum Ann

Leases - Summary of Minimum Annual Rental Payments under Terms of Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Remainder of 2023	$ 961
2024	3,866
2025	3,818
2026	3,668
2027	3,537
2028	3,594
Thereafter	25,474
Total Minimum payments required	44,918
Less: implied interest	11,459
Lease obligations	$ 33,459	$ 34,532

Deposits - Summarized Deposits

Deposits - Summarized Deposits (Details) - USD ($) $ in Thousands		Sep. 30, 2023	Dec. 31, 2022
Banking And Thrifts [Abstract]
Demand		$ 265,862	$ 289,149
NOW/IOLA accounts		22,519	24,349
Money market accounts	[1]	370,500	236,143
Reciprocal deposits		82,670	114,049
Savings accounts		117,870	130,432
Total NOW, money market, reciprocal and savings		593,559	504,973
Certificates of deposit of $250K or more	[1]	122,353	106,336
Brokered certificates of deposits	[2]	98,729	98,754
Listing service deposits	[2]	15,180	35,813
Certificates of deposit less than $250K	[1]	305,449	217,387
Total certificates of deposit		541,711	458,290
Total interest-bearing deposits		1,135,270	963,263
Total deposits		$ 1,401,132	$ 1,252,412
[1] A s of December 31, 2022, $ 81.7 million of SaveBetter deposits were reclassified from money market accounts to certificates of deposits. $ 36.2 million were reclassified to Certificates of deposits of $250K or more and $ 45.5 million were reclassified to certificates of deposit less than $250K. A s of September 30, 2023 and December 31, 2022, there were $ 0.3 million and $ 13.6 million, respectively, in individual listing service deposits amounting to $ 250,000 or more. All brokered certificates of deposit individually amounted to less than $ 250,000 .

Deposits - Summarized Deposit_2

Deposits - Summarized Deposits (Parenthetical) (Details) - USD ($)		Sep. 30, 2023	Dec. 31, 2022
Time Deposits [Line Items]
Money market accounts	[1]	$ 370,500,000	$ 236,143,000
Certificates of deposit of $250K or more	[1]	122,353,000	106,336,000
Certificates of deposit less than $250K	[1]	305,449,000	217,387,000
Individual brokered certification of deposit		300,000	13,600,000
Listing service deposits	[2]	15,180,000	35,813,000
Brokered certificates of deposits	[2]	98,729,000	98,754,000
SaveBetter LLC
Time Deposits [Line Items]
Money market accounts			81,700,000
Certificates of deposit of $250K or more			36,200,000
Certificates of deposit less than $250K			$ 45,500,000
Minimum
Time Deposits [Line Items]
Listing service deposits		250,000
Maximum
Time Deposits [Line Items]
Brokered certificates of deposits		$ 250,000
[1] A s of December 31, 2022, $ 81.7 million of SaveBetter deposits were reclassified from money market accounts to certificates of deposits. $ 36.2 million were reclassified to Certificates of deposits of $250K or more and $ 45.5 million were reclassified to certificates of deposit less than $250K. A s of September 30, 2023 and December 31, 2022, there were $ 0.3 million and $ 13.6 million, respectively, in individual listing service deposits amounting to $ 250,000 or more. All brokered certificates of deposit individually amounted to less than $ 250,000 .

Deposits - Scheduled Maturities

Deposits - Scheduled Maturities of Certificates of Deposit (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Banking And Thrifts [Abstract]
2023	$ 203,736
2024	194,609
2025	51,183
2026	42,372
2027	48,257
Thereafter	1,554
Total certificates of deposit	$ 541,711	$ 458,290

Deposits - Additional Informati

Deposits - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Banking And Thrifts [Abstract]
Overdrawn deposit reclassified to loans amounted	$ 0.1	$ 0.1

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Line Of Credit Facility [Line Items]
Advance from the Federal Home Loan Bank	$ 371,100,000		$ 371,100,000		$ 511,400,000
Guarantee from the FHLBNY through a standby letter of credit	1,000,000		1,000,000		21,500,000
Interest expense on FHLBNY advances	7,000,000	$ 1,500,000	17,600,000	$ 2,500,000
Interest Expense on overnight advances	0	$ 300,000	900,000	$ 300,000
Collateral in residential 1-4 and multifamily mortgage loans available to secure advances from the FHLBNY	1,814,329,000		1,814,329,000		1,525,668,000
Asset Pledged as Collateral without Right
Line Of Credit Facility [Line Items]
Collateral in residential 1-4 and multifamily mortgage loans available to secure advances from the FHLBNY	853,600,000		853,600,000		478,800,000
Overnight Line of Credit Advance
Line Of Credit Facility [Line Items]
Advance from the Federal Home Loan Bank	$ 0		$ 0		6,000,000
FRBNY
Line Of Credit Facility [Line Items]
Percentage of total securities portfolio	49.40%		49.40%
Securities portfolio amortized cost			$ 303,800,000
Outstanding term advances from FRBNY	$ 304,000,000		$ 304,000,000		$ 0

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowed Funds FHLBNY and Correspondent Bank Advances Maturity and Call Date (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Line Of Credit Facility [Line Items]
2023		$ 178,375
2024	$ 354,000	50,000
2025	50,000	50,000
2027	212,000	183,000
Thereafter	59,100	50,000
Total	675,100	517,375
2023		178,375
2024	354,000	50,000
2025	50,000	50,000
2027	212,000	183,000
Thereafter	59,100	50,000
Total	$ 675,100	$ 517,375
2023		4.32%
2024	4.53%	4.75%
2025	4.41%	4.41%
2027	3.44%	3.25%
Thereafter	3.43%	3.35%
Total	4.08%	3.90%
FHLBNY
Line Of Credit Facility [Line Items]
Overnight line of credit advance		$ 6,000
Overnight line of credit advance		$ 6,000
Overnight advances		4.61%

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Federal:
Current	$ 783	$ 2,265	$ 380	$ 370
Deferred	312	(2,750)	344	(4,047)
Federal income tax provision (benefit)	1,095	(485)	724	(3,677)
State and local:
Current	232	274	1,085	847
Deferred	1,818	(2,963)	1,091	(5,487)
State and local income tax provision (benefit)	2,050	(2,689)	2,176	(4,640)
Valuation allowance	(1,417)	2,354	(841)	4,061
(Benefit) provision for income taxes	$ 1,728	$ (820)	$ 2,059	$ (4,256)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Income Taxes [Line Items]
Federal income tax rate	21%	21%	21%	21%
Decreased and increased in valuation allowance	$ 1,417,000	$ (2,354,000)	$ 841,000	$ (4,061,000)
Net operating loss to offset income limited			80%
Net operating loss carryforwards	100,000		$ 100,000
pre-2015 carryforwards [Member] | New York State
Income Taxes [Line Items]
Net operating loss carryforwards	600,000		600,000
pre-2015 carryforwards [Member] | New York City
Income Taxes [Line Items]
Net operating loss carryforwards	500,000		500,000
post-2015 carryforwards [Member] | New York State
Income Taxes [Line Items]
Net operating loss carryforwards	58,900,000		58,900,000
post-2015 carryforwards [Member] | New York City
Income Taxes [Line Items]
Net operating loss carryforwards	29,700,000		29,700,000
CARES ACT [Member]
Income Taxes [Line Items]
Net operating loss carryforwards	6,700,000		6,700,000
NEW YORK
Income Taxes [Line Items]
Decreased and increased in valuation allowance			(800,000)	$ 4,100,000
Unrecognized tax benefits	$ 0		$ 0		$ 0

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Differences Between Federal Income Tax Rate and Total Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income tax, at federal rate	$ 906	$ (3,267)	$ 1,027	$ (5,259)
State and local tax, net of federal taxes	1,619	(2,125)	1,719	(3,666)
Valuation allowance, net of the federal benefit	(1,417)	2,354	(841)	4,061
Other	620	2,218	154	608
(Benefit) provision for income taxes	$ 1,728	$ (820)	$ 2,059	$ (4,256)

Income Taxes - Significant Defe

Income Taxes - Significant Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Deferred tax assets:
Allowance for loan losses	$ 8,509	$ 11,324
Interest on nonaccrual loans	730	317
Unrealized loss on available-for-sale securities	5,533	4,777
Amortization of intangible assets	16	32
Operating lease liabilities	10,386	11,304
Net operating losses	7,348	9,119
Charitable contribution carryforward	1,647	1,859
Compensation and benefits	1,087	562
Other	2,025	478
Total gross deferred tax assets	37,281	39,772
Deferred tax liabilities:
Depreciation of premises and equipment	996	1,049
Right of use assets	9,967	10,941
Deferred loan fees	215	671
Other	15	29
Total gross deferred tax liabilities	11,193	12,690
Valuation allowance	10,104	10,945
Net deferred tax assets	$ 15,984	$ 16,137

Compensation and Benefit Plan_2

Compensation and Benefit Plans - Additional Information (Details)

3 Months Ended

9 Months Ended

12 Months Ended

May 16, 2023 shares

Apr. 01, 2022 shares

Jan. 28, 2022 shares

Jan. 27, 2022 USD ($) shares

Jan. 01, 2021 USD ($)

Dec. 04, 2018 shares

Sep. 29, 2017 USD ($) shares

Sep. 30, 2023 USD ($) $ / shares shares

Jun. 30, 2023 $ / shares shares

Mar. 31, 2023 $ / shares shares

Sep. 30, 2022 USD ($)

Sep. 30, 2023 USD ($) Executive $ / shares shares

Sep. 30, 2022 USD ($)

Dec. 31, 2022 $ / shares shares

Dec. 31, 2020 shares

Dec. 31, 2021 $ / shares

Compensation And Benefit Plans Disclosure [Line Items]

Additional number of shares

2,018,221

2,018,221

2,057,446

ESOP related compensation expense including equalization expense | $

$ 300,000

$ 300,000

$ 900,000

$ 1,000,000

Number of option grants

0

0

0

68,329

Total remaining unrecognized compensation cost | $

$ 1,000,000

$ 1,000,000

Weighted average period expected to be recognized

54 months

Weighted-average exercise price for options | $ / shares

$ 8.97

$ 8.97

$ 8.97

$ 8.97

$ 8.97

$ 12.02

Weighted average remaining contractual life

5 years 10 months 24 days

Weighted average period expected to be recognized

2 years 10 months 24 days

Number of shares exercisable

218,433

218,433

190,508

Repurchase program number of shares authrized to repurchase

1,235,000

Share repurchase program, percentage of current issued and outstanding shares

5%

Shares repurchased

1,235,000

Treasury stock

1,233,111

1,233,111

1,976

Executive Officers

Compensation And Benefit Plans Disclosure [Line Items]

Vesting percentage

20%

Non-Executive Officers

Compensation And Benefit Plans Disclosure [Line Items]

Vesting percentage

20%

Non-Executive Officers Not Director

Compensation And Benefit Plans Disclosure [Line Items]

Vesting percentage

20%

Restricted Stock Units

Compensation And Benefit Plans Disclosure [Line Items]

Number of stock grants

0

0

0

63,715

Compensation expense | $

$ 400,000

400,000

$ 1,100,000

1,000,000

Total remaining unrecognized compensation cost | $

300,000

$ 300,000

Weighted average period expected to be recognized

54 months

Stock Options

Compensation And Benefit Plans Disclosure [Line Items]

Compensation expense | $

$ 50,000

50,000

$ 100,000

$ 100,000

Weighted average period expected to be recognized

6 years 6 months

2018 Long-Term Incentive Plan

Compensation And Benefit Plans Disclosure [Line Items]

Equity incentive plans, maximum number of shares issuable

1,248,469

1,248,469

Common stock reserved for future issuance

1,248,469

1,248,469

Conversion of issuable stock options to issuable restricted stock ratio

3

Number of issuable stock options converted into restricted stock units

462,522

Number of restricted stock units converted from issuable stock options

154,174

Number of grants

674,645

2018 Long-Term Incentive Plan | Executive Officers

Compensation And Benefit Plans Disclosure [Line Items]

Vesting percentage

20%

2018 Long-Term Incentive Plan | Directors

Compensation And Benefit Plans Disclosure [Line Items]

Vesting percentage

20%

Vesting period

10 years

2018 Long-Term Incentive Plan | Stock Options or Stock Appreciation Rights

Compensation And Benefit Plans Disclosure [Line Items]

Common stock reserved for future issuance

891,764

891,764

Shares available for future awards

4,883

4,883

4,883

2018 Long-Term Incentive Plan | Restricted Stock Units

Compensation And Benefit Plans Disclosure [Line Items]

Common stock reserved for future issuance

356,705

356,705

Shares available for future awards

0

0

0

2018 Long-Term Incentive Plan | Restricted Stock Units | Executive Officers

Compensation And Benefit Plans Disclosure [Line Items]

Number of stock grants

40,460

322,254

2018 Long-Term Incentive Plan | Restricted Stock Units | Outside Directors

Compensation And Benefit Plans Disclosure [Line Items]

Number of stock grants

23,255

148,625

2018 Long-Term Incentive Plan | Restricted Stock Units | Non-Executive Officers

Compensation And Benefit Plans Disclosure [Line Items]

Number of stock grants

30,659

40,000

2018 Long-Term Incentive Plan | Restricted Stock Units | Non-Executive Officers | December 31, 2020

Compensation And Benefit Plans Disclosure [Line Items]

Number of stock grants

15,000

2018 Long-Term Incentive Plan | Incentive Options | Executive Officers

Compensation And Benefit Plans Disclosure [Line Items]

Number of option grants

23,718

119,176

2018 Long-Term Incentive Plan | Incentive Options | Non-Executive Officers | December 31, 2020

Compensation And Benefit Plans Disclosure [Line Items]

Number of stock grants

40,000

2018 Long-Term Incentive Plan | Non-qualified Options | Outside Directors

Compensation And Benefit Plans Disclosure [Line Items]

Number of option grants

13,952

44,590

2020 Long-Term Incentive Plan

Compensation And Benefit Plans Disclosure [Line Items]

Number of issuable stock options converted into restricted stock units

45,000

Number of restricted stock units converted from issuable stock options

15,000

2022 Long-Term Incentive Plan

Compensation And Benefit Plans Disclosure [Line Items]

Number of issuable stock options converted into restricted stock units

191,145

Number of restricted stock units converted from issuable stock options

63,715

2023 Long-Term Incentive Plan

Compensation And Benefit Plans Disclosure [Line Items]

Equity incentive plans, maximum number of shares issuable

1,920,368

1,920,368

Common stock reserved for future issuance

1,920,368

1,920,368

Number of option grants

0

2023 Long-Term Incentive Plan | Stock Options or Stock Appreciation Rights

Compensation And Benefit Plans Disclosure [Line Items]

Common stock reserved for future issuance

1,371,691

1,371,691

2023 Long-Term Incentive Plan | Restricted Stock Units

Compensation And Benefit Plans Disclosure [Line Items]

Common stock reserved for future issuance

548,677

548,677

2023 Long-Term Incentive Plan | Restricted Stock Awards or Restricted Stock Units

Compensation And Benefit Plans Disclosure [Line Items]

Number of stock grants

0

Supplemental Executive Retirement Plan

Compensation And Benefit Plans Disclosure [Line Items]

Expense recognized | $

$ 20,000

$ 20,000

$ 50,000

$ 50,000

Non-qualified Supplemental Executive Retirement Plan

Compensation And Benefit Plans Disclosure [Line Items]

Number of key executive under retirement plan | Executive

2

Common Stock

Compensation And Benefit Plans Disclosure [Line Items]

Total issued shares

24,711,834

Shares repurchased

619,052

615,948

PDL Community Bancorp | Common Stock

Compensation And Benefit Plans Disclosure [Line Items]

Conversion of stock

1.3952

977,880

KSOP

Compensation And Benefit Plans Disclosure [Line Items]

Defined contribution plan, maximum annual contributions per employee, amount | $

$ 22,500

Defined contribution plan additional cost | $

$ 7,500

Employer matching contribution percentage

3%

Expense recognized | $

$ 30,000

Defined contribution plan, employers matching contribution, annual vesting percentage

100%

Maximum employer matching contribution percentage

20%

Defined contribution plan additional cost percentage

20

Number of years discretionary matching and profit sharing contributions

2 years

Number of additional year of service cost

6 years

KSOP | PDL Community Bancorp | Common Stock

Compensation And Benefit Plans Disclosure [Line Items]

Additional number of shares

1,097,353

Percentage of Shares Outstanding

4.44

Employee Stock Ownership Plan

Compensation And Benefit Plans Disclosure [Line Items]

Defined contribution plan, employers matching contribution, annual vesting percentage

100%

Number of years discretionary matching and profit sharing contributions

3 years

Employee Stock Ownership Plan | PDL Community Bancorp | Common Stock

Compensation And Benefit Plans Disclosure [Line Items]

Additional number of shares

723,751

First ESOP Loan

Compensation And Benefit Plans Disclosure [Line Items]

Total issued shares

13,300,000

13,300,000

First ESOP Loan | PDL Community Bancorp

Compensation And Benefit Plans Disclosure [Line Items]

Employee stock ownership plan ESOP loan term

15 years

Employee stock ownership plan ESOP interest percentage

2.60

First ESOP Loan | PDL Community Bancorp | Common Stock

Compensation And Benefit Plans Disclosure [Line Items]

Aggregate purchase price of common | $

$ 7,200,000

Second ESOP Loan

Compensation And Benefit Plans Disclosure [Line Items]

Total issued shares

13,300,000

13,300,000

Second ESOP Loan | PDL Community Bancorp

Compensation And Benefit Plans Disclosure [Line Items]

Employee stock ownership plan ESOP loan term

15 years

Employee stock ownership plan ESOP interest percentage

1.82

Second ESOP Loan | PDL Community Bancorp | Common Stock

Compensation And Benefit Plans Disclosure [Line Items]

Aggregate purchase price of common | $

$ 11,000,000

Compensation and Benefit Plan_3

Compensation and Benefit Plans - Summary of ESOP Shares (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Shares committed-to-be released	100,308	133,744
Shares allocated to participants	448,746	354,227
Unallocated shares	1,469,167	1,569,475
Total	2,018,221	2,057,446
Fair value of unallocated shares	$ 11,489	$ 14,628

Compensation and Benefit Plan_4

Compensation and Benefit Plans - Schedule of Restricted Stock Units Awards Activity and Related Information (Details) - Restricted Stock Units - $ / shares	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Non-vested, beginning of year	219,761	241,693	245,840	245,840	237,687
Number of Shares, Conversion and reorganization					93,933
Number of Shares, Granted	0	0	0		63,715
Number of Shares, Vested	(4,186)	(21,235)	(4,147)		(149,495)
Number of Shares, Forfeited	0	(697)	0		0
Number of Shares, Non-vested, ending of year	215,575	219,761	241,693	215,575	245,840	237,687
Weighted-Average Grant Date Fair Value Per Share, Non-vested, beginning of year	$ 9.30	$ 9.40	$ 9.40	$ 9.40
Weighted-Average Grant Date Fair Value Per Share, Conversion and reorganization					$ 0
Weighted-Average Grant Date Fair Value Per Share, Granted	0	0	0		10.44
Weighted-Average Grant Date Fair Value Per Share, Vested	7.2	10.44	9.27		9.11
Weighted-Average Grant Date Fair Value Per Share, Forfeited	0	9.15	0		0	$ 12.65
Weighted-Average Grant Date Fair Value Per Share, Non-vested, ending of year	$ 9.34	$ 9.30	$ 9.40	$ 9.34	$ 9.40

Compensation and Benefit Plan_5

Compensation and Benefit Plans - Schedule of Stock Option Awards Activity and Related Information (Details) - $ / shares	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Options, Outstanding, beginning of year	352,621	352,621	352,621	352,621	203,766
Options, Conversion and reorganization					80,526
Options, Granted	0	0	0		68,329
Options, Exercised	0	0	0		0
Options, Forfeited	0	0	0		0
Options, Outstanding, end of year	352,621	352,621	352,621	352,621	352,621
Options, Exercisable, end of year	218,433			218,433	190,508
Weighted-Average Exercise Price Per Share, Outstanding, beginning of year	$ 8.97	$ 8.97	$ 8.97	$ 8.97	$ 12.02
Weighted-Average Exercise Price Per Share, Conversion and reorganization					0
Weighted-Average Exercise Price Per Share, Granted	0	0	0		10.44
Weighted-Average Exercise Price Per Share, Exercised	0	0	0		0
Weighted-Average Exercise Price Per Share, Forfeited	0	0	0		0
Weighted-Average Exercise Price Per Share, Outstanding, end of year	8.97	$ 8.97	$ 8.97	8.97	8.97
Weighted-Average Exercise Price Per Share, Exercisable, end of year	$ 8.82			$ 8.82	$ 8.83

Compensation and Benefit Plan_6

Compensation and Benefit Plans - Schedule of Stock Option Awards Activity and Related Information (Parenthetical) (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Average Intrinsic Value, Outstanding, end of year	$ 0	$ 100,000
Average Intrinsic Value, Exercisable, end of year	$ 0	$ 100,000

Compensation and Benefit Plan_7

Compensation and Benefit Plans - Schedule of Fair Value of Option Grant Using Black-Scholes Option Pricing Model With Weighted Average Assumptions (Details) - $ / shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected life	2 years 10 months 24 days
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Dividend yield		0%
Expected life		6 years 6 months
Expected volatility		41.34%
Risk-free interest rate		2.65%
Weighted average grant date fair value		$ 3.85

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Reconciliation of Number of Shares Used in Calculation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ 2,590	$ (87)	$ 331	$ (14,738)	$ 771	$ (6,820)	$ 2,834	$ (20,787)
Common shares outstanding for basic EPS:
Weighted average common shares outstanding	23,774,317			24,727,459			24,456,108	24,072,543
Less: Weighted average unallocated Employee Stock Ownership Plan (ESOP) shares	1,502,241			1,632,600			1,535,428	1,548,066
Basic weighted average common shares outstanding	22,272,076			23,094,859			22,920,680	22,524,477
Basic earnings (loss) per common share	$ 0.12			$ (0.64)			$ 0.12	$ (0.92)
Potential dilutive common shares:
Add: Dilutive effect of restricted stock awards and stock options	77,141						42,276
Diluted weighted average common shares outstanding	22,349,217			23,094,859			22,962,956	22,524,477
Diluted earnings (loss) per common share	$ 0.12			$ (0.64)			$ 0.12	$ (0.92)

Commitments, Contingencies an_3

Commitments, Contingencies and Credit Risk - Financial Instruments Whose Contractual Amounts Represent Credit Risk (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Contractual amounts represent credit risk	$ 507,266	$ 281,311
Commitments to Grant Mortgage Loans
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Contractual amounts represent credit risk	445,152	207,105
Commitments to Sell Loans at Lock-In Rates
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Contractual amounts represent credit risk		1,676
Unfunded Commitments Under Lines of Credit
Fair Value Concentration Of Risk Financial Statement Captions [Line Items]
Contractual amounts represent credit risk	$ 62,114	$ 72,530

Commitments, Contingencies an_4

Commitments, Contingencies and Credit Risk - Additional Information (Details) - USD ($)		1 Months Ended			9 Months Ended
	Oct. 01, 2022	Nov. 30, 2023	Apr. 30, 2022	Dec. 31, 2021	Sep. 30, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Repurchase or indemnification requests for loans sold					$ 0
Lease expiration year					2038
Unfunded Commitments with Bamboo
Loss Contingencies [Line Items]
Membership Interest Units purchased	180
Maximum percentage of total issued and outstanding membership interest	18%
Purchase price of Membership Interest Units	$ 2,500,000
Additional contributions committed					$ 1,000,000
Total investment committed					3,500,000
Unfunded Commitments with Bamboo | Forecast
Loss Contingencies [Line Items]
Additional contributions committed		$ 200,000
Unfunded Commitments with Oaktree
Loss Contingencies [Line Items]
Amount committed to invest				$ 5,000,000
Total unfunded commitment					2,400,000	$ 2,800,000
Unfunded Commitments with Silvergate
Loss Contingencies [Line Items]
Amount committed to invest			$ 5,000,000
Total unfunded commitment					$ 2,600,000	$ 3,300,000

Fair Value - Additional Informa

Fair Value - Additional Information (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for sale, at fair value	$ 14,103,000	$ 1,979,000
Aggregate unpaid principal balance	14,000,000
Fair value, transfers into Level 3 assets	0
Fair value, transfers out of Level 3 assets	0	1
Fair value, transfers into Level 3 liabilities	0
Fair value, transfers out of Level 3 liabilities	$ 0	$ 1
Warehouse Line of Credit #1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warehouse line of credit termination date	Feb. 07, 2023
Warehouse Line of Credit #2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Warehouse line of credit termination date	Mar. 31, 2022

Fair Value - Assets Measured at

Fair Value - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	$ 14,103	$ 1,979
Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	130,856	131,506
Available-for-sale securities measure at fair value on recurring basis	14,103	1,979
Available-for-sale securities measure at fair value on recurring basis		22
Fair Value Measurement Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	3,442	3,419
Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	127,414	128,065
Available-for-sale securities measure at fair value on recurring basis	14,103	1,979
Fair Value Measurement Recurring | Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis		22
Available-for-sale securities measure at fair value on recurring basis		22
U.S. Government Bonds | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	2,713	2,689
U.S. Government Bonds | Fair Value Measurement Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	2,713	2,689
Corporate Bonds | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	23,190	23,359
Corporate Bonds | Fair Value Measurement Recurring | Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	729	730
Corporate Bonds | Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	22,461	22,629
Collateralized Mortgage Obligations | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	32,989	37,777
Collateralized Mortgage Obligations | Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	32,989	37,777
FHLMC Certificates | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	8,537	9,634
FHLMC Certificates | Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	8,537	9,634
FNMA Certificates | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	49,219	55,928
FNMA Certificates | Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	49,219	55,928
GNMA Certificates | Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	105	118
GNMA Certificates | Fair Value Measurement Recurring | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities measure at fair value on recurring basis	$ 105	$ 118

Fair Value - Assets Measured _2

Fair Value - Assets Measured at Fair Value on Nonrecurring Basis (Details) - Impaired Loans - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value on nonrecurring basis	$ 9,396	$ 17,952
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets measured at fair value on nonrecurring basis	$ 9,396	$ 17,952

Fair Value - Estimated Fair Val

Fair Value - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, at fair value	$ 116,753	$ 129,505
Held-to-maturity securities, at amortized cost, net		510,820
Loans held for sale, at fair value	14,103	1,979
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	117,012	54,360
Available-for-sale securities, at fair value	116,753	129,505
Held-to-maturity securities, at amortized cost, net	471,065	510,820
Placements with banks	996	1,494
Loans held for sale, at fair value	14,103	1,979
Loans receivable, net	1,787,607	1,493,127
Accrued interest receivable	16,624	15,049
FHLBNY stock	18,870	24,661
Demand deposits	265,862	289,149
Interest-bearing deposits	593,559	504,973
Certificates of deposit	541,711	458,290
Advance payments by borrowers for taxes and insurance	13,743	9,724
Borrowings	675,100	517,375
Accrued interest payable	8,385	1,390
Fair Value Measurements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	117,012	54,360
Available-for-sale securities, at fair value	116,753	129,505
Held-to-maturity securities, at amortized cost, net	444,864	495,851
Placements with banks	996	1,494
Loans held for sale, at fair value	14,103	1,979
Loans receivable, net	1,720,035	1,430,864
Accrued interest receivable	16,624	15,049
FHLBNY stock	18,870	24,661
Demand deposits	265,862	289,149
Interest-bearing deposits	593,559	504,973
Certificates of deposit	529,450	450,224
Advance payments by borrowers for taxes and insurance	13,743	9,724
Borrowings	654,847	503,406
Accrued interest payable	8,385	1,390
Fair Value Measurements | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	117,012	54,360
Available-for-sale securities, at fair value	3,442	3,419
FHLBNY stock	18,870	24,661
Demand deposits	265,862	289,149
Interest-bearing deposits	593,559	504,973
Fair Value Measurements | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Available-for-sale securities, at fair value	113,311	126,086
Held-to-maturity securities, at amortized cost, net	444,864	495,851
Placements with banks	996	1,494
Loans held for sale, at fair value	14,103	1,979
Accrued interest receivable	16,624	15,049
Certificates of deposit	529,450	450,224
Advance payments by borrowers for taxes and insurance	13,743	9,724
Borrowings	654,847	503,406
Accrued interest payable	8,385	1,390
Fair Value Measurements | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans receivable, net	$ 1,720,035	$ 1,430,864

Fair Value - Schedule of Beginn

Fair Value - Schedule of Beginning and Ending Balances for Debt Securities Available-for-Sale Recognized at Fair Value On Recurring Basis (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Ending balance	$ 129,505
Fair Value Measurement Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Beginning balance	4,929
Total loss included in earnings	(344)
Transfer out of level 3	$ (4,585)

Regulatory Capital Requiremen_3

Regulatory Capital Requirements - Additional Information (Details)	Sep. 30, 2023	Dec. 31, 2022
Disclosure Of Regulatory Capital Requirements [Abstract]
Percentage of capital buffer	17.10%	22.53%

Regulatory Capital Requiremen_4

Regulatory Capital Requirements - Summary of Actual Capital Amounts and Ratios As Compared to Regulatory Requirements (Details)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Ponce Financial Group, Inc.
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total Capital to Risk-Weighted Assets, Actual Amount	$ 530,056	$ 530,241
Tier 1 Capital to Risk-Weighted Assets, Actual Amount	505,508	510,537
Common Equity Tier 1 Capital Ratio, Actual Amount	505,508	510,537
Tier 1 Capital to Total Assets, Actual Amount	$ 505,508	$ 510,537
Total Capital to Risk-Weighted Assets, Actual Ratio	0.2707	0.3372
Tier 1 Capital to Risk-Weighted Assets, Actual Ratio	0.2582	0.3247
Common Equity Tier 1 Capital Ratio, Actual Ratio	0.2582	0.3247
Tier 1 Capital to Total Assets, Actual Ratio	0.199	0.2629
Total Capital to Risk-Weighted Assets, For Capital Adequacy Amount	$ 156,624	$ 125,791
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Amount	117,468	94,343
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Amount	88,101	70,757
Tier 1 Capital to Total Assets, For Capital Adequacy Amount	$ 101,597	$ 77,665
Total Capital to Risk-Weighted Assets, For Capital Adequacy Ratio	0.08	0.08
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio	0.06	0.06
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio	0.045	0.045
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio	0.04	0.04
Total Capital to Risk-Weighted Assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 195,780	$ 157,238
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	156,624	125,791
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	127,257	102,205
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 126,996	$ 97,082
Total Capital to Risk-Weighted Assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.10	0.1000
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.08	0.0800
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.065	0.0650
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.05	0.0500
Ponce Bank
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total Capital to Risk-Weighted Assets, Actual Amount	$ 488,108	$ 476,519
Tier 1 Capital to Risk-Weighted Assets, Actual Amount	463,727	456,816
Common Equity Tier 1 Capital Ratio, Actual Amount	463,727	456,816
Tier 1 Capital to Total Assets, Actual Amount	$ 463,727	$ 456,816
Total Capital to Risk-Weighted Assets, Actual Ratio	0.251	0.3053
Tier 1 Capital to Risk-Weighted Assets, Actual Ratio	0.2385	0.2926
Common Equity Tier 1 Capital Ratio, Actual Ratio	0.2385	0.2926
Tier 1 Capital to Total Assets, Actual Ratio	0.1751	0.2047
Total Capital to Risk-Weighted Assets, For Capital Adequacy Amount	$ 155,543	$ 124,883
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Amount	116,657	93,662
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Amount	87,493	70,247
Tier 1 Capital to Total Assets, For Capital Adequacy Amount	$ 105,950	$ 89,264
Total Capital to Risk-Weighted Assets, For Capital Adequacy Ratio	0.08	0.08
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio	0.06	0.06
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio	0.045	0.045
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio	0.04	0.04
Total Capital to Risk-Weighted Assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 194,429	$ 156,104
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	155,543	124,883
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	126,379	101,468
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Amount	$ 132,437	$ 111,580
Total Capital to Risk-Weighted Assets, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.10	0.10
Tier 1 Capital to Risk-Weighted Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.08	0.0800
Common Equity Tier 1 Capital Ratio, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.065	0.0650
Tier 1 Capital to Total Assets, For Capital Adequacy Ratio, To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio	0.05	0.0500

Regulatory Capital Requiremen_5

Regulatory Capital Requirements - Summary of Minimum Net Worth Requirements (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Mortgage World Bankers Inc | HUD
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Total Capital to Risk-Weighted Assets, Actual Amount	$ 1,000	$ 1,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income (loss), net of tax	$ 2,608	$ (16,404)
Unrealized losses on available-for-sale securities, net
Accumulated Other Comprehensive Income Loss [Line Items]
Accumulated other comprehensive income (loss) beginning balance	(17,860)	(1,456)
Other comprehensive income (loss), net of tax	2,608	(16,404)
Accumulated other comprehensive income (loss) ending balance	(20,468)	(17,860)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Accumulated other comprehensive income (loss) beginning balance	(17,860)	(1,456)
Accumulated other comprehensive income (loss) ending balance	$ (20,468)	$ (17,860)

Aggregate Loan Transactions wit

Aggregate Loan Transactions with Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Receivables [Abstract]
Beginning balance	$ 8,614	$ 7,532	$ 8,318	$ 5,631
Originations	50	1,223	678	5,418
Payments	(851)	(269)	(1,183)	(2,563)
Ending balance	$ 7,813	$ 8,486	$ 7,813	$ 8,486

Transactions with Related Par_3

Transactions with Related Parties - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Related Party Transactions [Abstract]
Deposits from directors, executive officers and non-executive officers	$ 7	$ 8

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Events $ in Millions	Oct. 12, 2023 USD ($)
Interest Rate Swap One
Subsequent Event [Line Items]
Interest rate swap period	2 years
Interest rate swap effective date	Oct. 12, 2023
Interest rate swap terminated date	Nov. 01, 2025
Notional amount	$ 150
Fixed rate of interest	4.885%
Interest Rate Swap Two
Subsequent Event [Line Items]
Interest rate swap period	3 years
Interest rate swap effective date	Oct. 12, 2023
Interest rate swap terminated date	Nov. 01, 2026
Notional amount	$ 100
Fixed rate of interest	4.62%