Ponce Financial Group, Inc. (the Company), the holding company for Ponce Bank, announced that at the meetings of the Boards of Directors of the Company and Ponce Bank, held on March 17, 2022, the Boards increased the size of their respective boards from seven members to eight members and appointed Mr. James Perez to the Boards of Directors. Mr. Perez is a highly regarded business person in the New York/New Jersey business community. Mr. Perez has extensive experience owning, developing and operating retail companies and as an investor in residential and commercial real estate.

He has had a banking relationship with Ponce Bank for over 32 years. Mr. Perez will also be appointed to the Audit Committee and the Compensation Committee of the Company's Board of Directors.