Princeton Bancorp Announces Third Quarter 2026 Results
Key Highlights
- ➤Q3 net income $1.0 million, down from $7.1 million sequentially
- ➤$8.0 million provision increase followed two commercial real estate loan charge-offs
- ➤Net loans rose $80.0 million, or 18.1% annualized linked-quarter
- ➤Total deposits grew $68.0 million, a 14.0% annualized linked-quarter increase
- ➤Quarterly dividend increased $0.05, or 14.2%
Expert Statements
Edward Dietzler, President and CEO of Princeton Bancorp
“During the third quarter, we charged off two previously identified problem loans and recorded an asset write-down related to a future retail consolidation. While these actions reduced reported net income to $1.0 million for the quarter, excluding these non-recurring items, our Bank's core operations generated approximately $7.0 million plus in net income, demonstrating the underlying strength of our franchise.”
Princeton Bancorp, Inc. (the “Company”) (NASDAQ - BPRN), the bank holding company for The Bank of Princeton (the “Bank”), today reported its unaudited financial condition and results of operations for the quarter and nine months ended September 30, 2026.
President and CEO Edward Dietzler spoke to the quarter results, "During the third quarter, we charged off two previously identified problem loans and recorded an asset write-down related to a future retail consolidation. While these actions reduced reported net income to $1.0 million for the quarter, excluding these non-recurring items, our Bank's core operations generated approximately $7.0 million plus in net income, demonstrating the underlying strength of our franchise."
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