Earnings ·
Princeton Bancorp reports Q3 net income of $1.0 million and raises quarterly dividend by 14.2% to $0.05 per share
BPRNPrinceton Bancorp, Inc.
Princeton Bancorp reported third-quarter 2026 net income of $1.0 million, or $0.15 per diluted share, a significant decline from $7.1 million in the prior quarter and $6.5 million in the same period last year. The decrease was primarily driven by an $8.0 million increase in provision for credit losses related to charge-offs of two commercial real estate loans and an asset write-down associated with future retail consolidation. Excluding these non-recurring items, core operations generated approximately $7.0 million in net income. Total assets reached $2.31 billion, while total deposits grew by $68.0 million on a linked-quarter basis. The Board increased the quarterly cash dividend by 14.2% to $0.05 per share. Princeton Bancorp is the holding company for The Bank of Princeton, a community bank operating branches in New Jersey and surrounding areas.