pdlb-10ka_20201231.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-K/A

Amendment No. 1

 

 

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM                      TO                      

Commission File Number 001-38224

 

PDL Community Bancorp

(Exact name of Registrant as specified in its Charter)

 

Federal

82-2857928

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer
Identification No.)

2244 Westchester Avenue

Bronx, NY

10462

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (718) 931-9000

 

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common stock, par value $0.01 per share

 

PDLB

 

The NASDAQ Stock Market, LLC

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES  NO 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d)of the Act. YES  NO 

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES  NO 

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). YES  NO ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

  

Accelerated filer

 

 

 

 

 

Non-accelerated filer

 

  

Smaller reporting company

 

 

 

 

 

 

 

 

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.  

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES  NO 

The aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant, based on the closing price of the shares of common stock on The NASDAQ Stock Market on March 25, 2021 was $70,826,239.

As of March 25, 2021, the registrant had 17,024,207 shares of common stock, $0.01par value per share, outstanding.

Documents Incorporated by Reference

Portions of the Registrant’s Definitive Proxy Statement relating to the Annual Meeting of Stockholders, schedule to be held on May 25, 2021, are incorporated into Part III hereof.

 

 

 

 

 

 


 

 

EXPLANATORY NOTE

This Amendment No. 1 (“Amendment No. 1”) to the Annual Report on Form 10-K of PDL Community Bancorp (the “Company” “we,” “our” or “us”) for the fiscal year ended December 31, 2020, as filed with the Securities and Exchange Commission (“SEC”) on March 29, 2021 (the “2020 Annual Report”), is being filed to include in the 2020 Annual Report an updated listing of the Company’s subsidiaries as provided by Exhibit 21.1.

Pursuant to Rule 12b-15, the Company is including Item 15 of Part IV with this Amendment No. 1, solely to file the updated Exhibit 21.1 and the certifications required under Section 302 of the Sarbanes-Oxley Act of 2002. Because no financial statements have been included in this Amendment No. 1 and this Amendment No. 1 does not contain or amend any disclosure with respect to Items 307 or 308 of Regulation S-K, paragraphs 3, 4 and 5 of the certification have been omitted. We are not including the certifications under Section 906 of the Sarbanes–Oxley Act of 2002 as no financial statements are being filed with this Amendment No. 1.

This Amendment No. 1 does not affect any other portion of the 2020 Annual Report. Additionally, except as specifically referenced herein, this Amendment No. 1 does not reflect any event occurring after March 29, 2021, the filing date of the 2020 Annual Report.

 

 

 

 


i


 

 

 

Table of Contents

 

 

 

PART IV

1

Item 15. Exhibits, Financial Statement Schedules.

1

 

 

ii


 

 

 

 

 

PART IV

Item 15. Exhibits, Financial Statement Schedules.

(a)(3)Exhibits

 

1

 


 

 

 

Exhibit Index

 

Exhibit

Number

 

Description

 

 

 

21.1*

 

Subsidiaries of the Registrant.

 

 

 

31.1*

 

Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

 

 

31.2*

 

Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

 

 

101.INS

 

XBRL Instance Document

101.SCH

 

XBRL Taxonomy Extension Schema Document

101.CAL

 

XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF

 

XBRL Taxonomy Extension Definition Linkbase Document

101.LAB

 

XBRL Taxonomy Extension Label Linkbase Document

101.PRE

 

XBRL Taxonomy Extension Presentation Linkbase Document

*

Filed herewith.

 

2

 


 

 

 

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

Company Name

 

 

 

 

Date:  May 24, 2021

 

By:

/s/ Carlos P. Naudon

 

 

 

Carlos P. Naudon

 

 

 

President, Chief Executive Officer and Director

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, this Report has been signed below by the following persons on behalf of the Registrant in the capacities and on the dates indicated.

 

Name

 

Title

 

Date

 

 

 

 

 

/s/ Carlos P. Naudon

 

President, Chief Executive Officer and Director

 

May 24, 2021

Carlos P. Naudon

 

 

 

 

 

 

 

 

 

/s/ Frank Perez

 

Executive Vice President and Chief Financial Officer

 

May 24, 2021

Frank Perez

 

 

 

 

 

 

 

 

 

/s/ Steven A. Tsavaris

 

Executive Chairman and Director

 

May 24, 2021

Steven A. Tsavaris

 

 

 

 

 

 

 

 

 

/s/ James Demetriou

 

Director

 

May 24, 2021

James Demetriou

 

 

 

 

 

 

 

 

 

/s/ William Feldman

 

Director

 

May 24, 2021

William Feldman

 

 

 

 

 

 

 

 

 

/s/ Julio Gurman

 

Director

 

May 24, 2021

Julio Gurman

 

 

 

 

 

 

 

 

 

/s/ Maria Alvarez

 

Director

 

May 24, 2021

Maria Alvarez

 

 

 

 

 

 

 

 

 

/s/ Nick Lugo

 

Director

 

May 24, 2021

Nick Lugo

 

 

 

 

 

 

 

 

 

 

3

 

pdlb-ex211_33.htm

 

Exhibit 21.1

 

Subsidiaries of the Registrant

(a)Subsidiaries of PDL Community Bancorp:

Subsidiary NameState of Incorporation or Organization

Ponce BankFederal

Mortgage World Bankers, Inc.New York

 

(b)Subsidiaries of Ponce Bank:

 

Subsidiary NameState of Incorporation or Organization

Ponce De Leon Mortgage CorporationNew York

PFS Services Inc.New York

 

 

 

pdlb-ex311_7.htm

 

Exhibit 31.1

CERTIFICATION PURSUANT TO

RULES 13a-14(a) AND 15d-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934,

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Carlos P. Naudon, certify that:

1.

I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K of PDL Community Bancorp;

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

Date:  May 24, 2021

 

By:

/s/ Carlos P. Naudon

 

 

 

Carlos P. Naudon

 

 

 

President, Chief Executive Officer & Director

 

 

pdlb-ex312_6.htm

 

Exhibit 31.2

CERTIFICATION PURSUANT TO

RULES 13a-14(a) AND 15d-14(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934,

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Frank Perez, certify that:

1.

I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K of PDL Community Bancorp;

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

Date:  May 24, 2021

 

By:

/s/ Frank Perez

 

 

 

Frank Perez

 

 

 

Executive Vice President and Chief Financial Officer