Q4 net income $5.2M ($0.75 EPS) vs Q3 loss; full-year EPS $1.55 vs $4.03 in 2023

Princeton Bancorp, Inc.

2024-FY EPS reported $1.55

Q4 2024 net income $5.2M ($0.75 diluted EPS) vs Q3 2024 loss of $4.5M ($0.68 loss) and Q4 2023 net income of $5.3M ($0.82).
Full-year 2024 net income $10.2M ($1.55 diluted EPS) vs $25.8M ($4.03) in 2023; decline due to prior-year bargain purchase gain from Noah Bank acquisition.
Assets exceeded $2.0B; loans +$270.5M and deposits +$396.9M (24.3%), driven by Cornerstone acquisition completed August 2024.
Non-performing assets rose to $27.1M from $6.7M at end-2023; two commercial real estate loans totaling $25.4M delinquent, bank evaluating sale.
Net interest margin 3.28% in Q4 2024, down 13 bps from Q3 2024 and 27 bps from Q4 2023; total provision for credit losses fell $4.2M sequentially.

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