secwatch.observer — SEC 8-K summary
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Issuer:     Princeton Bancorp, Inc. (BPRN)
CIK:        0001913971
Form:       8-K
Filed at:   2023-07-27T23:59:59+00:00
Accession:  0001193125-23-196069
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Princeton Bancorp Q2 net income $6.8M ($1.07 EPS); closes Noah Bank acquisition
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- Net income $6.8M ($1.07 diluted EPS) vs $6.1M ($0.95) Q1 2023 and $6.3M ($0.98) Q2 2022.
- Completed Noah Bank acquisition May 19, adding $239M assets; $9.7M bargain purchase gain recorded.
- Merger-related expenses of $7.0M; non-interest income rose $10.2M primarily due to bargain gain.
- Total deposits increased $225.2M (16.7%) since Dec 2022, including $192M from Noah; core deposits grew $33.1M.
- Non-performing assets rose to $9.8M from $0.3M, driven by $4.5M CRE loan charge-off and Noah acquired NPLs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1913971/000119312523196069/0001193125-23-196069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1913971/000119312523196069/d519896d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-196069

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer