PDL Community Bancorp Acquires Mortgage World Bankers
June 3, 2020
PDL Community Bancorp (the holding company for Ponce Bank) received regulatory approval from the New York State Department of Financial Services to acquire 100% of Mortgage World Bankers, a mortgage banking firm headquartered in Astoria, New York. The deal is intended to expand Ponce Bank's mortgage origination capacity, offer competitive consumer mortgage products and provide a channel to the secondary mortgage markets; it was expected to close on or about July 1, 2020.
- Buyers
- PDL Community Bancorp, Ponce Bank
- Targets
- Mortgage World Bankers, Inc.
- Industry
- Financial Services
- Location
- New York, United States
- Transaction Type
- Buyout
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