---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-010211"
form_type: "8-K"
ticker: "BPRN"
cik: "0001913971"
company_name: "Princeton Bancorp, Inc."
filed_at: "2024-01-18T23:59:59+00:00"
generated_at: "2026-06-06T22:08:34.546295+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Princeton Bancorp to acquire Cornerstone Financial in stock-for-stock merger

## Summary
- Each CFC common share exchanged for 0.24 BPRN shares; exchange ratio may adjust if CFC equity+allowance drops below $26.8M.
- CFC preferred shares redeemed for $1,000 per share in cash; aggregate cash consideration $3.34M.
- Directors and executives holding ~29.6% of CFC shares signed support agreements to vote for the merger.
- Closing expected Q2/Q3 2024, not before June 1, 2024; subject to regulatory and CFC shareholder approval.
- Termination fee of $849,000 payable by CFC under certain conditions, including a superior proposal.

## SEC filing metadata
- accession: 0001193125-24-010211
- form_type: 8-K
- ticker: BPRN
- cik: 0001913971
- company_name: Princeton Bancorp, Inc.
- filed_at: 2024-01-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1913971/000119312524010211/0001193125-24-010211-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1913971/000119312524010211/d724676d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-010211
- JSON: https://secwatch.observer/filing/0001193125-24-010211.json
- Plain text: https://secwatch.observer/filing/0001193125-24-010211.txt

## Key facts
- Material Agreements
  Princeton Bancorp, Inc. entered into Agreement and Plan of Merger with Cornerstone Financial Corporation (effective 2024-01-18).
  - Action: entry
  - Agreement: merger
  - Counterparty: Cornerstone Financial Corporation
  - Effective: 2024-01-18
  source text: On January 18, 2024, Princeton Bancorp, Inc. (the “ Company ”), the holding company for The Bank of Princeton, a New Jersey chartered bank, entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Cornerstone Financial Corporation, a New Jersey corporation (“ CFC ”) and holding company for Cornerstone Bank, a New Jersey chartered bank.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1913971/000119312524010211/0001193125-24-010211-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.