UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: October 1, 2018

 

PDL Community Bancorp

(Exact name of Registrant as Specified in Its Charter)

 

 

Registrant’s Telephone Number, Including Area Code: (718) 931-9000

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

  

 

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Item 7.01Regulation FD Disclosure

On October 1, 2018, PDL Community Bancorp, (the “Company”), the holding company for Ponce Bank, issued a press release announcing changes in Ponce Bank’s Executive Management.  The Company’s press release is included as Exhibit 99.1 to this report.

The information set forth in this Item 7.01 and in the attached Exhibit 99.1 is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended ( the “Exchange Act”), or otherwise subject to the liabilities of that Section.

Item 9.01Financial Statements and Exhibits.

 

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits.

 

 

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

Exhibit 99.1

 

PDL Community Bancorp Announces Changes in Ponce Bank’s Executive Management

 

NEW YORK, Oct. 01, 2018 (GLOBE NEWWIRE) -The Board of Directors of Ponce Bank is pleased to announce that, effective September 28, 2018, Carlos P. Naudon will become President and Chief Executive Officer of Ponce Bank; he was formerly President and Chief Operating Officer. Mr. Naudon remains President and Chief Executive Officer of PDL Community Bancorp, the parent company of Ponce Bank, and President and Chief Operating Officer of Ponce Bank Mutual Holding Company, the majority owner of PDL Community Bancorp.  The Board of Directors of Ponce Bank is also pleased to announce that, effective September 28, 2018, Steven A. Tsavaris has been appointed Executive Chairman of Ponce Bank; he was formerly its Chairman and Chief Executive Officer. Mr. Tsavaris remains Executive Chairman of PDL Community Bancorp and Chairman and Chief Executive Officer of Ponce Bank Mutual Holding Company.

 

Mr. Tsavaris stated that “with this step, we have concluded our management succession plan.  Carlos has long served Ponce Bank and, since joining us as President in 2015, has been instrumental in our conversion to a mutual holding company structure and modernizing Ponce Bank.  We look forward to his continued steadfast leadership.”

 

In his new position Mr. Tsavaris remains an executive officer of Ponce Bank and has, among his responsibilities, being a member of and chairing the Board of Directors, representing Ponce Bank with customers and community and serving as a member of the Loan Committee.  Nick Lugo, Vice-Chairman of the Board of Directors said “the Board of Directors applauds Steve for his long service to Ponce Bank; his efforts enabled Ponce Bank to reach $1 billion in size, an almost ten-fold increase since he first joined its Board of Directors in 1990.”