Princeton Bancorp, Inc. is the Princeton, New Jersey-based bank holding company for The Bank of Princeton, a community bank founded in 2007 that operates 29 branches in New Jersey (including three in Princeton and others in Bordentown, Browns Mills, Burlington, Chesterfield, Cherry Hill, Cranbury, Cream Ridge, Deptford, Fort Lee, Hamilton, Kingston, Lakewood, Lambertville, Lawrenceville, Medford, Monroe, Moorestown, New Brunswick, Palisades Park, Pennington, Piscataway, Princeton Junction, Quakerbridge, Sicklerville, Voorhees, and Woodbury) plus five branches in the Philadelphia, Pennsylvania area and two in the New York City metropolitan area, and the Bank is a New Jersey state-chartered commercial bank that provides personal and business lending and deposit services. For the second quarter ended June 30, 2026, the Company generated net interest income of $20.040 million, up 6.5 percent from $18.810 million in the prior-year quarter, and net income of $7.081 million, a meaningful year-over-year increase from the $0.688 million net income in the prior-year quarter that was burdened by a $6.956 million provision for credit losses in Q2 2025 (compared to a $0.353 million reversal in Q2 2026, a $7.3 million year-over-year swing in the provision line). The H1 2026 picture is similarly bifurcated, with net interest income of $38.898 million up 3.5 percent from $37.567 million in the prior-year period, and net income of $13.310 million, more than double the $6.066 million in the prior-year period. The diluted earnings per share of $1.04 for Q2 2026 was up from $0.10 in the prior-year quarter, and the diluted earnings per share of $1.95 for H1 2026 was up from $0.88 in the prior-year period. The Board of Directors declared a $0.35 per share quarterly cash dividend on July 22, 2026, payable on August 28, 2026 to shareholders of record at the close of business on August 5, 2026.
The investment thesis rests on three variables. The NIM expansion of 32 basis points in the quarter (to 3.86 percent from 3.54 percent in Q2 2025) is the cleanest read on the franchise performance, and the strategic intent is to continue building the NIM trajectory through both the higher yielding assets and the lower cost deposits. The credit quality is meaningfully stable, with the allowance for credit losses of $19.963 million at June 30, 2026 (essentially flat with the $20.325 million at December 31, 2025) and the non-performing assets of $16.3 million at June 30, 2026 (essentially flat with the $16.6 million at December 31, 2025) producing a non-performing assets to total loans ratio of 0.92 percent at June 30, 2026 (essentially flat with 0.91 percent at December 31, 2025). The loan portfolio purchase activity is the meaningful operational variable, with the Company purchasing $33.7 million in residential loans and $27.1 million in consumer loans during H1 2026, a meaningful loan portfolio investment pace that supports the broader loan growth trajectory.