Welcome to our dedicated page for Princeton Bancorp news (Ticker: BPRN), a resource for investors and traders seeking the latest updates and insights on Princeton Bancorp stock.
Princeton Bancorp reports news as the bank holding company for The Bank of Princeton, a New Jersey state-chartered community bank founded in 2007. Company updates focus on quarterly operating results, balance sheet trends, deposits, net interest income, non-interest income, credit provisions, liquidity, non-performing assets, and common stock dividends.
The Bank of Princeton provides personal and business banking services, including deposit accounts and lending products such as residential, commercial, construction, consumer, and home equity loans. Its branch footprint spans New Jersey, the Philadelphia area, and the New York City metropolitan area.
Princeton Bancorp (NASDAQ: BPRN) reported Q4 2024 net income of $5.2 million ($0.75 per diluted share), compared to a Q3 2024 net loss of $4.5 million and Q4 2023 net income of $5.3 million. The company completed the acquisition of Cornerstone Bank, reaching a milestone of over $2.0 billion in assets.
Total assets increased 22.11% to $2.34 billion, driven by the Cornerstone acquisition which added $303.5 million in assets. Net loans increased by $270.5 million, and total deposits grew 24.26% to $396.9 million. The company's stockholders' equity increased by $21.8 million or 9.09%.
Non-performing assets rose to $27.1 million, primarily due to two commercial real estate loans totaling $25.4 million. The net interest margin for Q4 2024 was 3.28%, showing decreases both quarter-over-quarter and year-over-year.
Princeton Bancorp (NASDAQ: BPRN) has declared a quarterly cash dividend of $0.30 per share, payable on February 28, 2025, to shareholders of record as of February 5, 2025. The company's President and CEO, Edward Dietzler, stated that this dividend demonstrates the Board's commitment to providing shareholder returns.
The Bank of Princeton, founded in 2007, operates 35 branches across New Jersey (28), Philadelphia (5), and the New York City metropolitan area (2). The quarterly dividend payments are subject to Board review and may be reduced or eliminated based on the company's financial condition and applicable regulations.
Princeton Bancorp (NASDAQ: BPRN) has announced the appointment of Brian Schoener as Vice President, Commercial Loan Officer for the Mercer County Region. Schoener brings over 25 years of banking industry experience, previously working with Northfield Bank, Santander Bank, and spending 15 years at TD Bank in various roles including retail banking leadership.
Based at the Bank's Lambertville Office, Schoener's appointment aims to strengthen the bank's commercial and small business lending, cash management, and deposit portfolio. According to Executive Vice President & Chief Lending Officer Stephanie Adkins, Schoener's expertise in delivering tailored financial solutions across diverse industries, combined with his strong local community ties, makes him a valuable addition to the team.
Princeton Bancorp reported Q3 2024 financial results, highlighting the completion of the Cornerstone Bank acquisition. The company recorded a net loss of ($3.6) million, or ($0.55) per diluted share, compared to net income of $5.1 million in Q2 2024. Total assets increased 22.87% to $2.35 billion, largely due to the Cornerstone acquisition which added $314.5 million in assets. The acquisition resulted in $6.7 million in merger expenses and a $3.2 million provision for credit loss. Total deposits increased by $410.3 million, with $282.8 million from Cornerstone and $127.5 million from existing operations. Net interest income was $17.1 million, with a net interest margin of 3.41%.
Princeton Bancorp, Inc. (NASDAQ: BPRN), the holding company for The Bank of Princeton, has declared a quarterly cash dividend of $0.30 per share of common stock. The dividend will be paid on November 28, 2024, to shareholders of record as of November 5, 2024. Edward Dietzler, President and CEO, stated that this dividend reflects the Board's commitment to providing shareholder returns.
The company notes that future dividends are subject to quarterly determination and declaration by the Board, considering factors such as financial condition and legal restrictions. Princeton Bancorp operates 28 branches in New Jersey, five in the Philadelphia area, and two in the New York City metropolitan area.
Princeton Bancorp (NASDAQ: BPRN) reported strong Q2 2024 results with an 18% increase in net income over Q1 2024. Key highlights include:
- Net income of $5.1 million ($0.80 per diluted share)
- Net interest margin increased to 3.44%
- Average loans up by $34.7 million
- Average deposits up by $50.7 million
- Non-performing assets at 0.2% of total loans
The company also announced regulatory and shareholder approvals for its acquisition of Cornerstone Financial , expected to close on August 23, 2024. This acquisition will strengthen Princeton Bancorp's presence in central and southern New Jersey.
Princeton Bancorp (NASDAQ: BPRN) has declared a quarterly cash dividend of $0.30 per share, payable on August 30, 2024, to shareholders of record as of August 9, 2024. This decision reflects the Board's commitment to providing shareholder returns, as stated by President and CEO Edward Dietzler. However, future dividends are subject to quarterly review and may be reduced or eliminated based on various factors, including the company's financial condition and legal restrictions.
Princeton Bancorp is the holding company for The Bank of Princeton, a community bank founded in 2007. The bank operates 22 branches in New Jersey, 5 in Philadelphia, and 2 in New York, serving a wide range of communities. It is a member of the Federal Deposit Insurance (FDIC).
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