secwatch.observer — SEC 8-K summary
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Issuer:     Princeton Bancorp, Inc. (BPRN)
CIK:        0001913971
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0001193125-24-184813
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Princeton Bancorp Q2 net income $5.1M ($0.80 EPS); acquisition approvals received
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- Q2 2024 net income $5.1M ($0.80 diluted EPS) vs Q1 $4.3M ($0.68) and Q2 2023 $6.8M ($1.07).
- Net interest margin 3.44%, up 2 bps QoQ; avg loans +$34.7M, avg deposits +$50.7M vs Q1.
- Acquisition of Cornerstone Financial Corp received all shareholder and regulatory approvals; expected close August 23, 2024.
- Non-performing assets low at $3.2M (0.2% of loans), down from $6.7M at year-end 2023.
- Six-month net income $9.5M ($1.48 diluted) vs $12.9M ($2.02) in prior year, decrease due to 2023 Noah Bank acquisition items.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1913971/000119312524184813/0001193125-24-184813-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1913971/000119312524184813/d827956d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-184813

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