Princeton Bancorp, Inc.
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 14, 2025
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 Financial Condition
(Dollars in thousands, except per share data)
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | $16,915 | $17,156 |
| Interest-earning bank balances | 16,729 | 17,376 |
| Federal funds sold | 83,704 | 116,025 |
| Total cash and cash equivalents | 117,348 | 150,557 |
| Securities available-for-sale, at fair value | 247,171 | 91,352 |
| Securities held-to-maturity (fair value $162 and $192, at December 31, 2024 and December 31, 2023, respectively) | 161 | 193 |
| Loans receivable, net of deferred fees and costs | 1,818,875 | 1,548,335 |
| Less: allowance for credit losses | (23,657) | (18,492) |
| Loan receivable, net | 1,795,218 | 1,529,843 |
| Bank-owned life insurance | 72,111 | 58,860 |
| Premises and equipment, net | 17,804 | 14,453 |
| Accrued interest receivable | 7,975 | 6,089 |
| Restricted investment in bank stock | 2,075 | 1,410 |
| Deferred taxes, net | 20,276 | 11,512 |
| Goodwill | 14,381 | 8,853 |
| Core deposit intangible | 3,632 | 1,422 |
| Other real estate owned | 295 | — |
| Operating lease right-of-use asset | 21,903 | 23,398 |
| Other assets | 19,883 | 18,555 |
| TOTAL ASSETS | $2,340,233 | $1,916,497 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| LIABILITIES | ||
| Deposits: | ||
| Non-interest-bearing | $300,972 | $249,282 |
| Interest-bearing | 1,731,653 | 1,386,459 |
| Total deposits | 2,032,625 | 1,635,741 |
| Accrued interest payable | 15,401 | 9,162 |
| Operating lease liability | 22,941 | 24,280 |
| Other liabilities | 7,226 | 7,103 |
| TOTAL LIABILITIES | 2,078,193 | 1,676,286 |
| STOCKHOLDERS’ EQUITY: | ||
| Preferred stock, no par value; 2,000,000 shares authorized and none outstanding at December 31, 2024 and none authorized at December 31, 2023 | — | — |
| Common stock, no par value; 15,000,000 shares authorized, 6,910,693 shares issued and 6,883,193 outstanding at December 31, 2024; 6,299,331 shares issued and outstanding at December 31, 2023 | — | — |
| Paid-in capital | 119,908 | 98,291 |
| Treasury stock, at cost of 27,500 shares at December 31, 2024 | (842) | — |
| Retained earnings | 151,915 | 149,414 |
| Accumulated other comprehensive loss | (8,941) | (7,494) |
| TOTAL STOCKHOLDERS’ EQUITY | 262,040 | 240,211 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $2,340,233 | $1,916,497 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.