Ways to Win with Ponce
Equity & cash
Ponce (PDLB) shares cost about $9 but are worth twice that to a buyer. As I discussed in Bay Community Bancorp: One Down, Many More To Go, CBOBA got a significant deal premium. Other ECIP banks such as Ponce are likely to get the same within the next few years.
But there are other ways to win with Ponce. They offer a 5.26% savings account, 5.3% 1-month CD, and 5.2% 4-month CD. Each of these are among the best rates in the industry. If you go to Raisin and use referral code “chrisd001452” you get a $50 bonus for making a $5k deposit into a savings account or CD.
I like this site not only for grabbing the best APY, but also to collect credit union and mutual deposits that have the kicker of potential rights to participate in future equity offerings.
Caveat
Ponce is badly mismanaged. They should sell to the highest bidder both to get the premium and to trade up management teams.
Conclusion
Own ECIP banks such as CBOBA and PDLB; make sure your cash is making >5%; collect sign up bonuses while you’re at it.
TL; DR
I own PDLB equity and deposits; you might want to too.
