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Here are 1-3 brief analogies for Princeton Bancorp (BPRN):

• It's like a smaller, community-focused version of a regional bank like PNC, serving specific areas in central New Jersey and southeastern Pennsylvania.
• Think of it as the 'local general store' for banking services, in contrast to a 'national supermarket' like JPMorgan Chase.
• Princeton Bancorp is a traditional community bank, similar to a localized Wells Fargo, dedicated to its New Jersey and Pennsylvania markets.

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• Deposit Services: Accepting various types of customer deposits, including checking, savings, money market, and certificates of deposit, to fund lending activities.
• Commercial Real Estate Loans: Providing financing for the acquisition, development, and refinancing of income-producing properties for businesses.
• Commercial and Industrial Loans: Offering loans to businesses for operational needs, equipment purchases, working capital, and expansion.
• Residential Mortgage Loans: Granting loans to individuals for the purchase or refinancing of primary residences and investment properties.

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Princeton Bancorp (BPRN)

• Individuals/Consumers: Residents of the communities it serves who utilize personal banking services such as checking and savings accounts, certificates of deposit (CDs), residential mortgages, consumer loans (e.g., auto loans, personal loans), and other related financial products.
• Small and Medium-sized Businesses (SMBs): Local businesses and professional practices seeking commercial banking services, including business checking and savings accounts, commercial lines of credit, term loans, equipment financing, and treasury management services.
• Commercial Real Estate (CRE) Owners and Investors: Individuals, partnerships, and corporations involved in the acquisition, development, or ownership of commercial properties, seeking commercial real estate loans for various purposes such as office buildings, retail spaces, multi-family housing, and industrial properties.

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• Jack Henry & Associates (JKHY)
• KPMG LLP

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Edward J. Dietzler President, Chief Executive Officer and Director

Mr. Dietzler currently serves as the Company's and The Bank of Princeton's President and Chief Executive Officer. He joined the Bank in September 2009 as Senior Vice President of Corporate Development, was promoted to Executive Vice President and Chief Operations Officer in March 2011, and became Acting President in January 2012. He was named President of the Bank in May 2012, appointed to the board of directors in June 2012, and became Chief Executive Officer in January 2018. He has a tenure of 13.83 years.

George S. Rapp Executive Vice President and Chief Financial Officer

Mr. Rapp was appointed as The Bank of Princeton's Executive Vice President and Chief Financial Officer in March 2017. Previously, from February 2013 to May 2016, he served as Vice President and Chief Financial Officer of Shore Bancshares, Inc. From 2010 to 2012, Mr. Rapp was Chief Financial Officer and one of four executive founders of World Currency USA, a foreign currency exchange services provider in Marlton, New Jersey.

Daniel J. O'Donnell Executive Vice President, Chief Operating Officer, General Counsel and Assistant Secretary

Mr. O'Donnell has served as Executive Vice President, Chief Operating Officer, General Counsel and Assistant Secretary for Princeton Bancorp since its formation in 2022 and for The Bank of Princeton since February 2019. Prior to this, he served as Executive Vice President, General Counsel and Chief Risk Officer for five years. He joined The Bank of Princeton in February 2014 and has over 20 years of experience in the financial services industry. Mr. O'Donnell holds a Bachelor's of Business Administration in Accounting from the University of Notre Dame and a Juris Doctorate from St. John's University School of Law.

Stephanie M. Adkins Executive Vice President and Chief Lending Officer

Ms. Adkins is the Executive Vice President and Chief Lending Officer for Princeton Bancorp.

Matthew T. Clark Executive Vice President and Chief Information Officer

Mr. Clark serves as the Executive Vice President and Chief Information Officer for Princeton Bancorp.

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The key risks for Princeton Bancorp (symbol: BPRN) primarily stem from the inherent nature of the banking industry and its susceptibility to economic and regulatory changes.

1. Interest Rate Risk and Market Fluctuations: Princeton Bancorp's profitability is significantly influenced by changes in interest rates and broader market conditions. Fluctuations in interest rate policies set by the Federal Reserve, along with general inflation and market volatility, can directly impact the bank's net interest margin and overall financial performance.
2. Credit Risk and Real Estate Market Exposure: As a financial institution engaged in lending, Princeton Bancorp faces credit risk associated with its loan portfolio. A substantial portion of its lending activities targets commercial real estate and small businesses, making the bank particularly vulnerable to downturns in the real estate market or an increase in loan defaults within these segments.
3. Regulatory and Compliance Risk: The banking industry is highly regulated, and Princeton Bancorp is subject to extensive laws, regulations, and supervision by banking authorities. Changes in these regulatory requirements, or the bank's ability to comply with them, could lead to increased operational costs, restrictions on business activities, fines, or reputational damage.

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Increased competition from digital-only banks (neobanks) and technology companies offering integrated financial services. These entities leverage lower overheads from lack of physical branches, superior mobile-first user experiences, and often higher interest rates on deposits or lower fees, to attract and retain customers for basic banking services, deposits, and consumer lending. This encroaches on traditional community bank market share, particularly among younger demographics and tech-savvy consumers, directly impacting deposit growth and profitability.

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Princeton Bancorp (symbol: BPRN) operates as a full-service financial institution offering a range of personal and business lending and deposit services. Their primary market is New Jersey, with additional operations in the Philadelphia, Pennsylvania area and the New York metropolitan area.

The addressable market sizes for their main products and services are as follows:

• Commercial Banking Services (including commercial real estate and business loans, and business deposit services):
  • For the region of New Jersey, the market size of the Commercial Banking industry is estimated to be $50.6 billion in 2025. This industry encompasses receiving deposits from customers and issuing consumer, commercial, and industrial loans.
• Residential Mortgage Loans:
  • Null
• Deposit Services (retail and business deposits):
  • For the New York-Newark-Jersey City, NY-NJ metropolitan area, the total deposits from all institutions were approximately $2.76 trillion ($2,763,001 million) as of Q2 2025.
  • For the Trenton-Princeton, NJ metropolitan area, the total deposits from all institutions were approximately $21.75 billion ($21,750 million) as of Q2 2025.
  • For the entire state of New Jersey, total deposits from all banks (NJ-based and out-of-state) were approximately $342.87 billion ($342,874,749 million) in 2019.

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Here are 3-5 expected drivers of future revenue growth for Princeton Bancorp (BPRN) over the next 2-3 years:

1. Net Interest Margin Expansion and Optimization of Funding Costs: Princeton Bancorp has demonstrated an increase in its net interest margin, reaching 3.77% in the third quarter of 2025. This improvement was driven by higher asset yields and a reduction in funding costs. Continued focus on optimizing these factors is expected to contribute to sustained revenue growth.
2. Strategic Loan Growth: As a community bank offering a range of business and personal banking services, including mortgage and consumer loans, strategic growth in loan originations is a fundamental driver of revenue. While some forward-looking statements have noted potential risks from reduced loan originations, a renewed focus on expanding the loan portfolio across its operating regions in New Jersey, Pennsylvania, and New York would directly increase interest income.
3. Realization of Synergies from Cornerstone Bank Acquisition: The acquisition of Cornerstone Bank in the third quarter of 2024 incurred merger-related expenses. As the integration of Cornerstone Bank progresses, the realization of operational efficiencies, cost synergies, and an expanded customer base and market reach from this acquisition are expected to contribute positively to future revenue growth.
4. Growth in Non-Interest Income: Princeton Bancorp has shown potential for increasing non-interest income. For instance, the first quarter of 2025 saw an increase in non-interest income attributed to higher loan fees and other non-interest income sources. Diversifying and growing these revenue streams can provide a stable and expanding source of income for the company.
5. Geographic Expansion and Market Penetration: Princeton Bancorp operates 28 branches across New Jersey, Pennsylvania, and New York, with loan origination activities in select areas of the New York City metropolitan area. Further strategic expansion within these existing markets or into new, underserved geographic areas, coupled with increasing market share through competitive product offerings and customer service, can drive future revenue growth.

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Share Repurchases

• Princeton Bancorp adopted a new stock repurchase program in August 2023, authorizing the repurchase of up to 5% of its outstanding common stock, with a total cost not to exceed $10.7 million (approximately 314,000 shares as of August 10, 2023).
• A prior stock repurchase program was approved in January 2022, allowing for the repurchase of up to 5% of outstanding common stock, not exceeding $10.3 million (approximately 324,017 shares at the time).
• By September 30, 2025, the company's treasury stock had increased to 266,676 shares due to repurchases.

Share Issuance

• In the fourth quarter of 2024, Princeton Bancorp issued $20.0 million of common stock as part of its acquisition of Cornerstone Financial Corporation.
• Shares outstanding for Princeton Bancorp were reported as 6.75 million as of October 25, 2025.

Outbound Investments

• Princeton Bancorp completed the acquisition of Noah Bank in May 2023 for approximately $25.4 million, which was projected to increase the company's total assets to about $1.8 billion.
• In January 2024, the company agreed to acquire Cornerstone Financial Corporation in a transaction valued at approximately $17.9 million.
• The acquisition of Cornerstone Bank was completed in the fourth quarter of 2024, adding approximately $303.5 million in assets to Princeton Bancorp's balance sheet and increasing total assets to $2.34 billion.

Capital Expenditures

• For banks and insurance companies, traditional "Capex-to-Operating-Income" is generally not applicable.