Princeton Bancorp, Inc. reported a net income of $6.5 million, or $0.95 per diluted share, for the third quarter of 2025, a significant recovery from a net loss of $4.5 million, or $(0.68) per diluted share, in the same period last year. This turnaround is attributed to a $2.5 million increase in net interest income and a $5.3 million decrease in the provision for credit losses, which had been impacted by merger-related expenses of $7.8 million recorded in the third quarter of 2024. For the nine months ending September 30, 2025, net income reached $12.5 million, compared to $5.0 million for the same period in 2024, reflecting a strong performance driven by increased loan balances and improved operational efficiency.
Total assets for Princeton Bancorp decreased to $2.23 billion as of September 30, 2025, down from $2.34 billion at the end of 2024, primarily due to declines in cash and cash equivalents, investment securities, and net loans. Cash and cash equivalents fell by $44.5 million, or 37.9%, while total available-for-sale investment securities decreased by $37.2 million, or 15.1%. Net loans also saw a reduction of $25.1 million, or 1.38%, with notable decreases in construction and commercial real estate loans, partially offset by increases in residential mortgages.
The company’s strategic developments included the acquisition of Cornerstone Financial Corporation in August 2024, which contributed to an increase in the average balance of loans. As of September 30, 2025, the company reported a total of 242 employees, with a focus on enhancing customer service and operational capabilities. The commercial real estate loan portfolio constituted 75.3% of total loans, with a significant portion of loans having a loan-to-value ratio of less than 70%, indicating a conservative lending approach.
Princeton Bancorp's total deposits decreased by $104 million, or 5.12%, to $1.93 billion, driven by declines in certificates of deposit and money market accounts. The company maintained a strong liquidity position, with no outstanding borrowings as of September 30, 2025. The total stockholders' equity increased by $4.6 million, or 1.74%, primarily due to retained earnings growth and stock option exercises. Looking ahead, the company remains cautious about economic conditions, particularly inflation and interest rate fluctuations, which could impact future performance. The management is committed to maintaining a strong capital position and enhancing shareholder value through strategic initiatives and prudent risk management practices.
About Princeton Bancorp, Inc.
Princeton Bancorp, Inc. is a Pennsylvania-based holding company for The Bank of Princeton, a full-service bank serving New Jersey, Pennsylvania, and New York markets. It offers personal and business banking, mortgage, construction, and consumer loans, along with deposit services. The company emphasizes community banking, competitive rates, and technological innovation, operating under extensive federal and state regulation to provide financial services and maintain capital adequacy.
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