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<!-- DFIN ActiveDisclosure(SM) XBRL Instance Document - http://www.dfinsolutions.com/ -->
<!-- Creation Date      : 2021-05-21T20:43:27.0683507+00:00 -->
<!-- Version            : 5.0.1.617 -->
<!-- Package ID         : 01623b17564645f8ab7f259f27ae50da -->
<!-- Copyright (c) 2021 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
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  <dei:AmendmentDescription id="F_000002" contextRef="C_0001703489_20200101_20201231">This Amendment No. 1 (&#8220;Amendment No. 1&#8221;) to the Annual Report on Form 10-K of PDL Community Bancorp (the &#8220;Company&#8221; &#8220;we,&#8221; &#8220;our&#8221; or &#8220;us&#8221;) for the fiscal year ended December 31, 2020, as filed with the Securities and Exchange Commission (&#8220;SEC&#8221;) on March 29, 2021 (the &#8220;2020 Annual Report&#8221;), is being filed to include in the 2020 Annual Report an updated listing of the Company&#8217;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&#8211;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.</dei:AmendmentDescription>
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  <dei:DocumentsIncorporatedByReferenceTextBlock id="F_000033" contextRef="C_0001703489_20200101_20201231">&lt;p&gt;Portions of the Registrant&amp;#8217;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.&lt;/p&gt;</dei:DocumentsIncorporatedByReferenceTextBlock>
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