Filing Summary
Business Context and Reporting Period
Ponce Financial Group, Inc., the holding company for Ponce Bank, filed a Current Report on Form 8-K under Item 4.01. The report concerns a change in the Company’s independent registered public accounting firm, effective June 1, 2024. The Form 8-K was signed and dated June 4, 2024.
Financial Metrics
This filing does not provide current-period revenue, profit, cash flow, margins, debt, liquidity, or other operating and financial metrics.
Material Change Versus the Prior Comparable Period
Mazars USA LLP resigned as the Company’s independent registered public accounting firm because substantially all of its partners and employees joined FORVIS, LLP. Effective June 1, 2024, FORVIS, LLP changed its name to Forvis Mazars, LLP, which the Audit Committee appointed as the Company’s new independent registered public accounting firm.
Mazars’ audit report covering the financial statements for December 31, 2023 and 2022, and each year in the three-year period ended December 31, 2023, contained no adverse opinion, disclaimer, qualification, or modification relating to uncertainty, audit scope, or accounting principles.
Guidance, Outlook, Risks, and Unusual Items
- The Company reported no disagreements with Mazars regarding accounting principles or practices, financial statement disclosure, or audit scope or procedures during fiscal years 2022 and 2023 or the subsequent period through the report date.
- The Company reported no reportable events under Item 304(a)(1)(v) of Regulation S-K.
- Neither the Company nor anyone acting on its behalf consulted with Forvis Mazars regarding specified accounting or auditing matters before its appointment.
- Mazars provided a letter dated June 4, 2024, filed as Exhibit 16.1, addressing the Company’s disclosures.
- The filing provides no management guidance, operating outlook, contingencies, or other unusual financial items.
Important Facts for Investors to Verify
- Confirm the effective date and completion of the transition from Mazars USA LLP to Forvis Mazars, LLP.
- Review Exhibit 16.1 for Mazars’ response to the Company’s statements.
- Verify that subsequent periodic filings identify Forvis Mazars as the independent registered public accounting firm.
- Review future financial filings for any changes in audit opinions, internal controls, accounting policies, or reportable events.