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, Inc. (NASDAQ: BPRN) is the bank holding company for The Bank of Princeton, a New Jersey state‑chartered commercial bank and FDIC member. This news page aggregates company‑specific announcements and financial updates so readers can follow developments that affect BPRN and its community banking operations.
News items for Princeton Bancorp, Inc. frequently include quarterly and annual earnings releases, where the company reports net income, net interest income, net interest margin, provisions for credit losses, non‑interest income and expense, and changes in total assets, loans, deposits, and stockholders’ equity. These releases also discuss asset quality metrics such as non‑performing assets and the allowance for credit losses, as well as the impact of acquisitions on the balance sheet and income statement.
Investors can also expect dividend declarations and related Form 8‑K filings, in which the Board of Directors announces quarterly cash dividends per share, record dates, and payment dates. The company has described how its board evaluates dividends each quarter in light of financial condition and regulatory considerations, and it has reported both regular dividends and dividend increases.
Additional news may cover acquisition activity and integration, such as the completion of the Cornerstone Bank acquisition and references to the prior Noah Bank acquisition, as well as updates on branch network expansion and management appointments within The Bank of Princeton. These items provide context on the company’s growth strategy along its regional footprint.
Because press releases include forward‑looking statement disclaimers and references to risk factors in SEC filings, this news feed is a useful companion to formal reports for understanding how Princeton Bancorp, Inc. communicates its performance, risk considerations, and strategic direction. Readers interested in BPRN stock and The Bank of Princeton’s community banking activities can use this page to monitor ongoing corporate and financial developments.
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Princeton Bancorp, Inc. (NASDAQ: BPRN) reported its financial results for Q1 2023, with net income of $6.1 million ($0.95 per share), down from $7.2 million in Q4 2022 and up from $6.0 million in Q1 2022. The decrease from the previous quarter was driven by a $1.6 million dip in net interest income and a $101 thousand rise in non-interest expenses. However, net interest income was $807 thousand higher than in the same quarter last year. Total assets fell 1.0% to $1.59 billion, while total deposits decreased 4.1%, led by drops in various deposit accounts. Non-performing assets surged to $6.5 million due to a delinquent $6.2 million commercial real estate loan. Despite these challenges, the bank improved its net interest margin by 50 basis points year-over-year. The company continues to demonstrate strong earnings performance, reflecting its commitment to risk management and a solid balance sheet.
On April 19, 2023, Princeton Bancorp, Inc. (NASDAQ: BPRN) declared a quarterly cash dividend of $0.30 per share for its common stock. This dividend will be paid on May 26, 2023 to shareholders who are on record by the end of business on May 9, 2023. The announcement reflects the Board's commitment to returning value to shareholders, as stated by CEO Edward Dietzler. However, future dividend payments will depend on various factors including the Company's financial condition and regulatory requirements. Princeton Bancorp operates The Bank of Princeton, with nineteen branches in New Jersey and additional locations in Pennsylvania.
The Bank of Princeton (BPRN) reported a net income of $7.2 million for Q4 2022, an increase from $7.0 million in Q3 2022 and $6.2 million in Q4 2021. This growth was attributed to a $550 thousand rise in net interest income, offset by declines in non-interest income and increases in tax expense. For the full year, net income rose to $26.5 million, up from $22.5 million in 2021, primarily due to a $5.5 million increase in net interest income. However, total assets fell by 5.1% to $1.60 billion, driven by decreases in cash and securities. The non-performing loans ratio was low at 0.02%.
On January 25, 2023, Princeton Bancorp, Inc. (NASDAQ – BPRN) declared a cash dividend of $0.30 per share, demonstrating its commitment to returning value to shareholders. The dividend is set to be paid on March 3, 2023, to those on record by February 10, 2023. CEO Edward Dietzler emphasized this decision reflects the company's strong financial condition. The board will assess future dividends based on various factors, including the company’s financial health and regulatory restrictions. Princeton Bancorp operates The Bank of Princeton, a community bank founded in 2007, with multiple branches across New Jersey and Pennsylvania.