Princeton Bancorp, Inc.
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
View on SEC.govAbout this filing
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$44.51-0.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
| PART I | ||
|---|---|---|
| Item 1 | Business | 5 |
| Item 1A | Risk Factors | 24 |
| Item 1B | Unresolved Staff Comments | 39 |
| Item 1C | Cybersecurity | 39 |
| Item 2 | Properties | 40 |
| Item 3 | Legal Proceedings | 42 |
| Item 4 | Mine Safety | 42 |
| PART II | ||
| Item 5 | Market for the Registrant’s Common Equity, Related Stockholder Matters Issuer Purchase of Equity Securities | 43 |
| Item 7 | Management’s Discussion and Analysis of Financial Condition and Results of Operation | 46 |
| Item 7A | Quantitative and Qualitative Disclosure and Market Data | 58 |
| Item 8 | Financial Statements and Supplementary Data | 58 |
| Item 9 | Changes in and Disagreement with Accountants on Accounting and Financial Disclosure | 109 |
| Item 9A | Controls and Procedures | 109 |
| Item 9B | Other Information | 109 |
| Item 9C | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 109 |
| PART III | ||
| Item 10 | Directors, Executive Officers and Corporate Governance | 110 |
| Item 11 | Executive Compensation | 110 |
| Item 12 | Security Ownership of Certain Beneficial Owners and Management Related Stockholder Matters | 110 |
| Item 13 | Certain Relationships and Related Transaction, and Directors Independence | 110 |
| Item 14 | Principal Accounting Fees and Services | 110 |
| PART IV | ||
| Item 15 | Exhibits: Financial Statement Schedules | 111 |
| Signatures | ||
Glossary of Acronyms and Terms
The following listing provides a comprehensive reference of common acronyms and terms used throughout the document:
| ACL | Allowance for Credit Losses |
|---|---|
| AFS | Available-for-sale |
| AI | Artificial Intelligence |
| ALCO | Asset-liability committee |
| AML | Anti-money laundering |
| ASC 326 | ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments |
| ATM | Automated teller machines |
| ASU | Accounting Standards Update |
| BHCA | Bank Holding Company Act of 1956, as amended |
| CBT | Corporation Business Tax |
| CECL | ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments |
| CFC | Cornerstone Financial Corporation and its wholly owned subsidiary Cornerstone Bank |
| CFPB | Consumer Financial Protection Bureau |
| CIO | Chief Information Officer |
| COSO 2013 | Committee of Sponsoring Organizations of the Treadway Commission |
| CRA | Community Reinvestment Act |
| DCF | Discounted Cash Flow Method |
| Department | New Jersey Department of Banking and Insurance |
| DIF | Deposit Insurance Fund of the FDIC |
| Dodd-Frank Act | Dodd-Frank Wall Street Reform and Consumer Protection Act |
| DRR | DIF Designated reserve (target) ratio |
| FDIC | Federal Deposit Insurance Corporation |
| Federal Reserve | Federal Reserve System |
| FHLB | Federal Home Loan Bank |
| GAAP | Accounting principles generally accepted in the United States of America |
| GAP Table | Table setting forth the amounts of our interest-earning assets and interest-bearing liabilities outstanding |
| HELOC | Home equity line of credit |
| HTM | Held-to-maturity |
| LTV | Loan to Value |
| NPV | Net portfolio value |
| SBIC | Small Business Investment Company |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.