Princeton Bancorp completes acquisition of Noah Bank for $25.4M in cash

Princeton Bancorp, Inc.

Total transaction value ~$25.4M; Noah shareholders received $6.00 per share cash.
Noah had $241.6M in assets, $193.1M in deposits, $35.3M equity as of March 31, 2023.
Pro forma combined assets ~$1.8B; TBOP now operates 30 branches in NJ, PA, and NY.
Hyunjun An, Noah's Acting President and CFO, joined TBOP as Senior Vice President.
Transaction closed May 19, 2023; TBOP survivor, Noah merged into TBOP.

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