Princeton Bancorp Inc
For the period ended Dec 31, 2023. Filed Mar 25, 2024.
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FY2023 · Filed Mar 25, 2024
BPRN$44.54+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| INTEREST AND DIVIDEND INCOME | ||
| Loans receivable, including fees | $89,278 | $70,996 |
| Securities available-for-sale: | ||
| Taxable | 1,339 | 986 |
| Tax-exempt | 1,138 | 1,167 |
| Securities held-to-maturity | 10 | 11 |
| Other interest and dividend income | 6,415 | 923 |
| TOTAL INTEREST AND DIVIDEND INCOME | 98,180 | 74,083 |
| INTEREST EXPENSE | ||
| Deposits | 33,046 | 5,995 |
| Borrowings | 118 | 5 |
| TOTAL INTEREST EXPENSE | 33,164 | 6,000 |
| NET INTEREST INCOME | 65,016 | 68,083 |
| Provision for credit losses | 3,108 | 400 |
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 61,908 | 67,683 |
| NON-INTEREST INCOME | ||
| Gain on call/sale of securities available-for-sale | 39 | 2 |
| Income from bank-owned life insurance | 1,293 | 1,138 |
| Fees and service charges | 1,853 | 1,852 |
| Loan fees, including preypayment penalties | 3,221 | 1,484 |
| Gain on bargain purchase | 9,696 | — |
| Gain on sale of other real estate owned | 203 | — |
| Other | 816 | 386 |
| TOTAL NON-INTEREST INCOME | 17,121 | 4,862 |
| NON-INTEREST EXPENSE | ||
| Salaries and employee benefits | 23,386 | 20,455 |
| Occupancy and equipment | 7,037 | 5,859 |
| Professional fees | 2,060 | 2,470 |
| Data processing and communications | 5,026 | 4,488 |
| Federal deposit insurance | 891 | 1,010 |
| Advertising and promotion | 504 | 484 |
| Office expense | 508 | 239 |
| Other real estate expenses | 1 | 106 |
| Core deposit intangible | 502 | 569 |
| Acquisition-related expenses | 5,635 | — |
| Other | 3,144 | 2,812 |
| TOTAL NON-INTEREST EXPENSE | 48,694 | 38,492 |
| INCOME BEFORE INCOME TAX EXPENSE | 30,335 | 34,053 |
| INCOME TAX EXPENSE | 4,570 | 7,559 |
| NET INCOME | $25,765 | $26,494 |
| Earnings per common share-basic | $4.10 | $4.19 |
| Earnings per common share-diluted | $4.03 | $4.11 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.