BPRN · Princeton Bancorp, Inc.

Princeton Bancorp delivered a strong start to 2026, with net income rising to $6.2 million compared to $6.1 million in the prior quarter and $5.4 million in the prior year period. President and CEO Edward Dietzler highlighted the performance as supported by over 15% growth in non-interest income and a reduction in credit provision. The sequential improvement in net income was primarily driven by a $332 thousand increase in non-interest income, which included a $232 thousand gain on an equity investment, and a $258 thousand decrease in provision for credit losses. The company recorded a net reversal of credit losses of $156 thousand in Q1 2026. Net interest margin expanded 12 basis points sequentially to 3.63%, a positive trend attributed to a 7.0% decrease in interest expense outpacing a 2.2% decline in interest income. Balance sheet liquidity remains robust with $119.8 million in cash and equivalents and $164.5 million in available-for-sale securities. While total deposits decreased by $33.5 million, the composition shifted favorably with increases in money market and non-interest-bearing demand deposits offsetting declines in time deposits. Asset quality metrics remained stable, with non-performing assets flat at $16.5 million. The effective tax rate was 22.6% for the quarter.