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 Income
(Dollars in thousands, except per share data)
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| INTEREST AND DIVIDEND INCOME | ||
| Loans receivable, including fees | $108,586 | $89,278 |
| Securities available-for-sale: | ||
| Taxable | 4,928 | 1,339 |
| Tax-exempt | 1,142 | 1,138 |
| Securities held-to-maturity | 9 | 10 |
| Other interest and dividend income | 8,281 | 6,415 |
| TOTAL INTEREST AND DIVIDEND INCOME | 122,946 | 98,180 |
| INTEREST EXPENSE | ||
| Deposits | 56,414 | 33,046 |
| Borrowings | — | 118 |
| TOTAL INTEREST EXPENSE | 56,414 | 33,164 |
| NET INTEREST INCOME | 66,532 | 65,016 |
| Provision for credit losses | 5,109 | 3,108 |
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 61,423 | 61,908 |
| NON-INTEREST INCOME | ||
| (Loss) gain on call/sale of securities available-for-sale | (7) | 39 |
| Income from bank-owned life insurance | 1,673 | 1,293 |
| Fees and service charges | 1,945 | 1,853 |
| Loan fees, including prepayment penalties | 3,082 | 3,221 |
| Gain on bargain purchase | — | 9,696 |
| Gain on sale of other real estate owned | — | 203 |
| Other | 1,462 | 816 |
| TOTAL NON-INTEREST INCOME | 8,155 | 17,121 |
| NON-INTEREST EXPENSE | ||
| Salaries and employee benefits | 26,037 | 23,386 |
| Occupancy and equipment | 8,207 | 7,037 |
| Professional fees | 2,575 | 2,060 |
| Data processing and communications | 5,378 | 5,026 |
| Federal deposit insurance | 1,145 | 891 |
| Advertising and promotion | 630 | 504 |
| Office expense | 621 | 508 |
| Other real estate expenses | 14 | 1 |
| Core deposit intangible | 602 | 502 |
| Acquisition-related expenses | 7,803 | 5,635 |
| Other | 3,750 | 3,144 |
| TOTAL NON-INTEREST EXPENSE | 56,762 | 48,694 |
| INCOME BEFORE INCOME TAX EXPENSE | 12,816 | 30,335 |
| INCOME TAX EXPENSE | 2,574 | 4,570 |
| NET INCOME | $10,242 | $25,765 |
| Earnings per common share-basic | $1.57 | $4.10 |
| Earnings per common share-diluted | $1.55 | $4.03 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.