Princeton Bancorp Inc
For the period ended Dec 31, 2023. Filed Mar 25, 2024.
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FY2023 · Filed Mar 25, 2024
BPRN$44.45+0.4%Stored close · as of Nov 12, 2026
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Consolidated Statements of Financial Condition
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| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| ASSETS | ||
| Cash and due from banks | $17,156 | $12,161 |
| Interest-earning bank balances | 17,376 | 13,140 |
| Federal funds sold | 116,025 | 28,050 |
| Total cash and cash equivalents | 150,557 | 53,351 |
| Securities available-for-sale, at fair value | 91,352 | 81,341 |
| Securities held-to-maturity (fair value $192 and $200, at December 31, 2023 and 2022, respectively) | 193 | 201 |
| Loans receivable, net of deferred fees and costs | 1,548,335 | 1,370,368 |
| Less: allowance for credit losses | (18,492) | (16,461) |
| Loan receivable, net | 1,529,843 | 1,353,907 |
| Bank-owned life insurance | 58,860 | 52,617 |
| Premises and equipment, net | 14,453 | 11,722 |
| Accrued interest receivable | 6,089 | 4,756 |
| Restricted investment in bank stock | 1,410 | 1,742 |
| Deferred taxes, net | 11,512 | 7,599 |
| Goodwill | 8,853 | 8,853 |
| Core deposit intangible | 1,422 | 1,825 |
| Operating lease right-of-use asset | 23,398 | 16,026 |
| Equity method investments | 8,296 | 2,061 |
| Other assets | 10,259 | 5,778 |
| TOTAL ASSETS | $1,916,497 | $1,601,779 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| LIABILITIES | ||
| Deposits: | ||
| Non-interest-bearing | $249,282 | $265,078 |
| Interest-bearing | 1,386,459 | 1,082,652 |
| Total deposits | 1,635,741 | 1,347,730 |
| Borrowings | — | 10,000 |
| Accrued interest payable | 9,162 | 1,027 |
| Operating lease liability | 24,280 | 16,772 |
| Other liabilities | 7,103 | 6,649 |
| TOTAL LIABILITIES | 1,676,286 | 1,382,178 |
| STOCKHOLDERS’ EQUITY: | ||
| Common stock, no par value; 15,000,000 shares authorized, 6,299,331 shares issued and outstanding at December 31, 2023; at December 31, 2022, par value $5.00 per share, 6,909,402 shares issued and 6,245,597 shares outstanding | — | 34,547 |
| Paid-in capital | 98,291 | 81,291 |
| Treasury stock, at cost 663,805 shares at December 31, 2022 | — | (19,452) |
| Retained earnings | 149,414 | 131,488 |
| Accumulated other comprehensive loss | (7,494) | (8,273) |
| TOTAL STOCKHOLDERS’ EQUITY | 240,211 | 219,601 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $1,916,497 | $1,601,779 |
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