Princeton Bancorp Announces Third Quarter 2026 Results
Princeton Bancorp reported Q3 2026 net income of $1.0 million, or $0.15 per diluted share, down from $7.1 million ($1.04) in Q2 and $6.5 million ($0.95) a year ago. The drop was driven by a $7.6 million provision for credit losses tied to charge-offs of two previously identified commercial real estate loans, plus an asset write-down for a planned retail branch consolidation; management says core operations still generated roughly $7.0 million in net income. Despite the charge-offs, non-performing assets fell to $8.2 million (down $8.3 million from year-end), loans grew 18.1% annualized, and the board raised the quarterly dividend 14.2%.
Key figures
- Eps
- 0.15
- Revenue
- $22.5 million
- Roaa
- 0.18%
- Net income
- $1.0 million
- Total assets
- $2.31 billion
- Total deposits
- $2.0 billion
- Dividend increase
- $0.05 or 14.2%
- Eps prior quarter
- 1.04
- Acl coverage ratio
- 1.05%
- Net interest income
- $20.0 million
- Net interest margin
- 3.75%
- Provision swing qoq
- $8.0 million
- Net loans qoq growth
- $80.0 million, 18.1% annualized
- Nonperforming assets
- $8.2 million
- Npa change vs ye2025
- decrease of $8.3 million
- Nine month net income
- $14.3 million ($2.10 diluted EPS, up from $1.82)
- Eps prior year quarter
- 0.95
- Core net income ex items
- ~$7.0 million
- Provision for credit losses
- $7.6 million
AI analysis
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