Financial Performance - The Company reported a net loss of $3.6 million, or $0.55 per diluted common share, for Q3 2024, compared to net income of $5.1 million, or $0.80 per diluted common share, in Q2 2024[3]. - For the nine-month period ended September 30, 2024, net income was $5.9 million, or $0.90 per diluted common share, compared to $20.5 million, or $3.21 per diluted common share, for the same period in 2023[10]. - Net loss income was $(3,607,000), a decline of 147.5% compared to net income of $7,598,000 in the previous year[25]. - Basic net loss per common share was $(0.55), down 145.5% from $1.21 year-over-year[25]. - Net income decreased by 71.4% to $5,864,000 compared to $20,483,000 in the prior year[27]. - Net income per common share (basic) fell by 72.0% to $0.91 from $3.26[27]. - Net (loss) income for September 2024 was $(14,350) thousand, compared to a profit of $20,617 thousand in June 2024, reflecting a significant downturn[40]. Asset and Deposit Growth - Total assets increased to $2.35 billion at September 30, 2024, a rise of $438.2 million, or 22.87%, from $1.92 billion at the end of 2023, primarily due to the Cornerstone Bank acquisition[4]. - Total deposits rose by $410.3 million, or 25.08%, to $2.05 billion as of September 30, 2024, driven by $282.8 million in deposits from Cornerstone Bank and $127.5 million from existing operations[5]. - Total assets increased to $2,354,730 thousand as of September 30, 2024, up 22.87% from $1,916,497 thousand at December 31, 2023[21]. - Total deposits reached $2,046,001 thousand, a 25.08% increase compared to $1,635,741 thousand at December 31, 2023[21]. - Total assets grew to $2,150,002,000, up from $1,889,249,000[28]. - Total deposits increased by 14.6% to $1,851,628,000 from $1,614,922,000[28]. Loan and Credit Quality - Loans receivable, net of deferred loan fees, rose to $1,831,407 thousand, reflecting an 18.28% increase from $1,548,335 thousand at December 31, 2023[21]. - The allowance for credit losses increased to $23,200 thousand, up 25.46% from $18,492 thousand at December 31, 2023[21]. - Non-performing assets decreased to $2.3 million at September 30, 2024, down $4.4 million from December 31, 2023[7]. - Nonperforming loans decreased to $2,330,000 in September 2024 from $3,198,000 in June 2024[34]. - Provision for credit losses was $4,601,000, a significant increase compared to a reversal of $182,000 in the previous year[25]. - Provision for credit losses increased by 83.4% to $4,669,000, up from $2,546,000[27]. Expenses and Efficiency - Total non-interest expense for Q3 2024 was $19.0 million, an increase of $7.0 million, or 58.5%, compared to Q2 2024, largely due to $6.7 million in merger costs related to the Cornerstone acquisition[13]. - Total non-interest expense rose to $19,036,000, an increase of 87.4% from $10,159,000 year-over-year[25]. - Non-interest income totaled $2,056,000, a decrease of 14.4% from $2,403,000 year-over-year[25]. - Non-interest income decreased significantly by 60.1% to $6,128,000 from $15,342,000[27]. - Non-interest expenses for September 2024 were $19,036 thousand, significantly higher than $12,009 thousand in June 2024, reflecting a 58.4% increase[40]. - Adjusted efficiency ratio improved to 63.65% in September 2024 from 65.90% in June 2024, showing enhanced operational efficiency[40]. Capital and Equity - Total stockholders' equity increased by $22.1 million, or 9.22%, to $262.5 million at September 30, 2024, mainly due to a $21.2 million increase in paid-in capital from the acquisition[6]. - Total stockholders' equity increased to $262,351 thousand, reflecting a 9.22% rise from $240,211 thousand at December 31, 2023[21]. - Stockholders' equity grew to $245,508 thousand, an increase from $226,471 thousand, showing a rise of 8.3%[30]. - Book value per common share was $38.15, a slight increase of 0.29% from $38.04 at December 31, 2023[21]. - Book value per common share at period end was $38.15 in September 2024, down from $38.54 in June 2024[34]. - The tangible book value per share decreased to $35.50 in September 2024 from $36.98 in June 2024, a decline of 4.0%[40]. Interest Income and Margin - Net interest income for Q3 2024 was $17.1 million, an increase of $1.1 million from Q2 2024, with a net interest margin of 3.41%[8]. - Total interest and dividend income increased to $31,810,000, up 17.8% from $27,000,000 year-over-year[25]. - Total interest and dividends increased by 26.4% to $89,286,000 compared to $70,626,000 in the previous year[27]. - The net interest margin decreased to 3.42% from 4.07% in the previous period, indicating a decline in profitability[30]. - The net interest margin (FTE) for September 2024 was 3.45%, slightly down from 3.48% in June 2024[41]. - Net interest income after provision for credit losses decreased to $12,508,000, down 25.8% from $16,866,000 year-over-year[25].

Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, September 19th: Pampa Energia (PAM) This largest fully integrated electricity company in Argentina which is engaged in the generation, transmission and distribution of electricity, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 20.8% over the last 60 days. Pampa Energia's shares gained 30.4% over the last three month compared with the ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, September 19th: Farmers National Banc (FMNB) : This full-service national bank which is engaged in commercial and retail banking, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 3.8% over the last 60 days. This Zacks Rank #1 (Strong Buy) company has a dividend yield of 4.4%, compared with the industry average of 2.9%. Princeton Bancorp, Inc. (BPRN) : This company which p ...

Shares of Princeton Bancorp (BPRN) have been struggling lately and have lost 6.7% over the past four weeks. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road. The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish ...

Princeton Bancorp (BPRN) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked b ...

Table of Contents Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, no par value BPRN The Nasdaq Global Market Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20429 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the tra ...

Princeton Bancorp (BPRN) came out with quarterly earnings of $0.80 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.72 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 15.94%. A quarter ago, it was expected that this bank would post earnings of $0.67 per share when it actually produced earnings of $0.68, delivering a surprise of 1.49%. Over the last four quarters, the company ...

| --- | --- | --- | --- | |-------|-------|-------|----------------------------------------------------------------| | | | | Exhibit 99.1 | | | | | For Immediate Release Contact George Rapp 609.454.0718 | | | | | grapp@thebankofprinceton.com | President/CEO Edward Dietzler remarked on the second quarter results, "The Company continued its strong financial performance with a 18.0% increase in net income over the first quarter of 2024, along with a modest increase in the net interest margin to 3.44% for the s ...

Princeton Bancorp (BPRN) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. Therefore, the Zacks rating upgrade for Princeton Bancorp basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price. Harnessing the Power of Earnings Estimate Revisions The power of ...

ING Groep N.V. (ING) : This company which provides various banking products and services has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.7% the last 60 days. This Zacks Rank #1 company has a dividend yield of 4%, compared with the industry average of 3.3%. Here are two stocks with buy rank and strong income characteristics for investors to consider today, June 21: This Zacks Rank #1 company has a dividend yield of 8.2%, compared with the industry average of 4.6%. Prince ...