Princeton Bancorp Reports $7.1 Million Net Income for Q2 2026

Princeton Bancorp, Inc. reported a net income of $7.1 million, or $1.04 per diluted share, for the second quarter of 2026, a significant increase from the $688,000, or $0.10 per diluted share, recorded in the same period of 2025. This growth in profitability was primarily driven by a $7.3 million decrease in the provision for credit losses, alongside a $1.2 million increase in net interest income and a $185,000 rise in non-interest income. The company’s total interest and dividend income for the quarter was $31.7 million, down from $32.8 million a year earlier, while total interest expense decreased to $11.6 million from $13.9 million.

In terms of overall financial performance, total assets decreased by $34.1 million, or 1.49%, to $2.25 billion as of June 30, 2026, compared to $2.29 billion at the end of 2025. This decline was attributed to a $69.5 million drop in cash and cash equivalents and a $44.9 million reduction in loans, which was partially offset by a $78.9 million increase in investment securities. The company’s loan portfolio, net of deferred fees and costs, stood at $1.77 billion, with commercial real estate loans comprising 71.8% of total loans.

Princeton Bancorp also experienced a decrease in total deposits, which fell by $40.5 million, or 2.05%, to $1.94 billion. This decline was primarily due to reductions in certificates of deposit and interest-bearing checking deposits, although there were increases in money market and non-interest-bearing checking deposits. The company maintained a strong liquidity position, with approximately $666 million in uninsured deposits as of June 30, 2026.

Strategically, Princeton Bancorp continues to focus on enhancing its operational efficiency and expanding its market presence. The company has not reported any significant acquisitions or organizational changes in the recent quarter. As of June 30, 2026, the company employed 238 individuals, reflecting its commitment to maintaining a robust workforce to support its banking operations. Looking ahead, the company remains cautious about the economic environment, particularly in light of inflationary pressures and potential changes in monetary policy, which could impact its future performance and growth strategies.