Princeton Bancorp Announces First Quarter 2026 Results

Company Release - 4/23/2026 Princeton Bancorp, Inc. (the “Company”) (NASDAQ - BPRN), the bank holding company for The Bank of Princeton (the “Bank”), today reported its unaudited financial condition at, and its results of operations for the quarter ended, March 31, 2026. President/CEO Edward Dietzler commented on the quarter results, “The Company started 2026 with a strong quarterly performance, with net income of $6.2 million and diluted EPS of $0.91. These results were supported by an increase in non-interest income of over 15%, as well as a reduction in credit provision, and an improved net interest margin when compared to the fourth quarter of 2025." The Company reported net income of $6.2 million, or $0.91 per diluted common share, for the first quarter of 2026, compared to $6.1 million, or $0.90 per diluted common share, for the fourth quarter of 2025, and net income of $5.4 million, or $0.77 per diluted common share, for the first quarter of 2025. The increase in net income for the first quarter of 2026 when compared to the fourth quarter of 2025 was primarily due to an increase in non-interest income of $332 thousand, an increase in net interest income of $228 thousand, and a decrease in provision for credit losses of $258 thousand, partially offset by an increase in non-interest expense of $686 thousand. The increase in net income for the first quarter of 2026 when compared to the first quarter of 2025 was primarily due to an increase in non-interest income of $261 thousand, an increase in net-interest income of $101 thousand, a decrease in non-interest expense of $377 thousand, and a decrease in the provision for credit losses of $424 thousand, partially offset by an increase of $312 thousand in income tax expense. Review of Statements of Financial Condition Total assets were $2.25 billion at March 31, 2026, a decrease of $29.4 million, or 1.29%, when compared to $2.28 billion at the December 31, 2025. The primary reason for the decrease in total assets was related to a decrease in cash and cash equivalents of $15.9 million and a decrease in investment securities of $15.2 million, partially offset by an increase in loans of $2.7 million. Total deposits at March 31, 2026, decreased $33.5 million, or 1.70%, when compared to December 31, 2025. The decrease in the Company’s deposits consisted primarily of decreases in certificates of deposit of $53.2 million, and interest-bearing demand deposits of $25.3 million, partially offset by an increase in money market deposits of $26.5 million, non-interest-bearing demand deposits of $17.2 million, and savings deposits of $1.3 million. We believe that our balance sheet liquidity remains strong at March 31, 2026 with $119.8 million in cash and cash equivalents, as well as available for sale securities of $164.5 million. Total stockholders’ equity at March 31, 2026 increased $2.9 million, or 1.07%, when compared to December 31, 2025. The increase was primarily due to an increase in retained earnings of $3.8 million (which consisted of $6.2 million in net income, partially offset by $2.4 million of cash dividends recorded during the period), partially offset by an increase in accumulated other comprehensive loss of $845 thousand due to increases in market interest rates. The ratio of equity to total assets at March 31, 2026 and at December 31, 2025 was 12.1% and 11.9%, respectively. Asset Quality At March 31, 2026, non-performing assets remained steady at $16.5 million, compared to $16.5 million at December 31, 2025. Review of Quarterly and Year-to-Date Financial Results Net interest income was $18.9 million for the first quarter of 2026, an increase of $228 thousand over the fourth quarter of 2025, and an increase of $101 thousand compared to $18.8 million for the first quarter of 2025. The increase in net interest income when compared with the fourth quarter of 2025 was primarily related to a decrease in interest expense of $913 thousand or, 7.0%, partially offset by a decrease in interest income of $685 thousand, or 2.2%. The increase in net interest income when compared with the first quarter of 2025 was primarily due to a $2.3 million decrease in interest expense, partially offset by a decrease in interest income of $2.2 million. The net interest margin for the first quarter of 2026 was 3.63%, an increase of 12 basis points when compared to the fourth quarter of 2025, and an increase of 12 basis points when compared to the first quarter of 2025. When comparing the first quarter of 2026 and the fourth quarter of 2025 periods, the decrease in interest income and increase in net interest margin were primarily associated with a decrease in average total investments of $24.6 million, a decrease in average loans of $1.7 million, partially offset by an increase in the Company’s yield earned on interest-earning assets of 2 basis points. When comparing the first quarter of 2026 and first quarter of 2025, the $2.3 million decrease in interest expense was primarily due to the Company's cost of funds decreasing by 38 basis points and average interest-bearing deposits decreasing by $69.5 million. The decrease in interest expense was partially offset by a $2.2 million decrease in interest income caused by a decrease in average interest-earning assets of $60.6 million, and a decrease of 25 basis points in the yield earned on interest-earning assets. The Company recorded a reversal of credit losses of $156 thousand during the first quarter of 2026, which consisted of a $291 thousand decrease recorded to the allowance of credit losses, offset by an increase to the provision for credit losses of $135 thousand related to unfunded commitments, which are recorded in other liabilities on the Company’s statements of financial condition. The current quarters' reversal of provision recorded on the Company’s statements of income was $258 thousand lower when compared to the fourth quarter of 2025 and was $424 thousand lower when compared to the first quarter of 2025. The coverage ratio of the allowance for credit losses to period end loans was 1.10% at March 31, 2026, and 1.12% at December 31, 2025. Total non-interest income of $2.5 million for the first quarter of 2026 increased $332 thousand, or 15.7%, when compared to the fourth quarter of 2025 and increased $261 thousand, or 11.9%, when compared to the first quarter of 2025. The increase over the fourth quarter of 2025 was primarily due to an increase in other non-interest income of $320 thousand discussed below. The increase over the prior year’s first quarter was primarily due to increases in other non-interest income of $303 thousand, an increase in fees and service charges of $69 thousand, and an increase in income from bank-owned life insurance of $36 thousand, partially offset by a decrease in loan fees of $147 thousand. The increase in other non-interest income for the first quarter of 2026 was related to a gain recorded on an equity investment in the amount of $232 thousand recorded in the first quarter of 2026 compared to no such net gain in either the fourth or first quarters of 2025. Total non-interest expense of $13.4 million for the first quarter of 2026 increased $686 thousand, or 5.4%, when compared to the fourth quarter of 2025. This increase over the prior quarter was primarily due to increases in salaries and employee benefits expenses of $608 thousand, occupancy and equipment expenses of $236 thousand, partially offset by a decrease in other non-interest expenses of $206 thousand. Total non-interest expense for the first quarter of 2026 decreased $377 thousand, or 2.7%, when compared to the first quarter of 2025, primarily due to lower salary and employee benefits expense and FDIC insurance expense. For the quarter ended March 31, 2026, the Company recorded an income tax expense of $1.8 million, resulting in an effective tax rate of 22.6%, compared to an income tax expense of $1.8 million, resulting in an effective tax rate of 23.2% for the quarter ended December 31, 2025 and compared to an income tax expense of $1.5 million resulting in an effective tax rate of 21.9% for the quarter ended March 31, 2025. About Princeton Bancorp, Inc. and The Bank of Princeton Princeton Bancorp, Inc. is the holding company for The Bank of Princeton, a community bank founded in 2007. The Bank is a New Jersey state-chartered commercial bank with 28 branches in New Jersey, including three in Princeton and others in Bordentown, Browns Mills, Burlington, Chesterfield, Cherry Hill, 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. There are also five branches in the Philadelphia, Pennsylvania area and two in the New York City metropolitan area. The Bank of Princeton is a member of the Federal Deposit Insurance Corporation. Forward-Looking Statements The Company may from time to time make written or oral “forward-looking statements,” including statements contained in the Company’s filings with the Securities and Exchange Commission, in its reports to stockholders and in other communications by the Company (including this press release), which are made in good faith by the Company pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties, such as statements of the Company’s plans, objectives, expectations, estimates and intentions that are subject to change based on various important factors (some of which are beyond the Company’s control). The most significant factors that could cause future results to differ materially from those anticipated by our forward-looking statements include the potential impact of any future Federal budget stalemates in Congress, higher tariffs imposed by the Trump administration, higher inflation levels, and general economic and recessionary concerns, all of which could impact economic growth and could cause an increase in loan delinquencies, a reduction in financial transactions and business activities including decreased deposits and reduced loan originations, difficulties in managing liquidity in a rapidly changing and unpredictable market, and supply chain disruptions. Other factors that could cause actual results to differ materially from those indicated by forward-looking statements include, but are not limited to, the following factors: the global impact of foreign military conflicts; the impact of any future pandemics or other natural disasters; civil unrest, rioting, acts or threats of terrorism, or actions taken by the local, state and Federal governments in response to such events, which could impact business and economic conditions in our market area; the strength of the United States economy in general and the strength of the local economies in which the Company and Bank conduct operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; market and monetary fluctuations; market volatility; the value of the Bank’s products and services as perceived by actual and prospective customers, including the features, pricing and quality compared to competitors’ products and services; the willingness of customers to substitute competitors’ products and services for the Bank’s products and services; credit risk associated with the Bank’s lending activities; risks relating to the real estate market and the Bank’s real estate collateral; the impact of changes in applicable laws and regulations and requirements arising out of our supervision by banking regulators; other regulatory requirements applicable to the Company and the Bank; the timing and nature of the regulatory response to any applications filed by the Company and the Bank; developments in technology, such as artificial intelligence, and our ability to incorporate innovative technologies in our business and provide products and services that satisfy our customers' expectations for convenience and security; other acquisitions; changes in consumer spending and saving habits; those risks under the heading “Risk Factors” set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025; and the success of the Company at managing the risks involved in the foregoing. The Company cautions that the foregoing list of important factors is not exclusive. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company, except as required by applicable law or regulation. Princeton Bancorp, Inc. Consolidated Statements of Financial Condition (Unaudited) (Dollars in thousands, except per share data) March 31, 2026 vs March 31, 2026 vs March 31, December 31, March 31, December 31, 2025 March 31, 2025 2026 2025 2025 $ Change % Change $ Change % Change ASSETS Cash and cash equivalents $ 119,794 $ 135,686 $ 67,674 $ (15,892 ) (11.71 )% $ 52,120 77.02 % Securities available-for-sale- taxable 125,582 140,817 199,931 (15,235 ) (10.82 )% (74,349 ) (37.19 )% Securities available-for-sale- tax-exempt 38,975 39,752 39,304 (777 ) (1.95 )% (329 ) (0.84 )% Securities held-to-maturity 151 153 159 (2 ) (1.31 )% (8 ) (5.03 )% Loans receivable, net of deferred loan fees 1,819,133 1,816,416 1,856,539 2,717 0.15 % (37,406 ) (2.01 )% Allowance for credit losses (20,033 ) (20,325 ) (23,942 ) 292 (1.44 )% 3,909 (16.33 )% Goodwill 14,381 14,381 14,381 — — — — Core deposit intangible 2,580 2,776 3,403 (196 ) (7.06 )% (823 ) (24.18 )% Other assets 153,204 153,491 160,648 (287 ) (0.19 )% (7,444 ) (4.63 )% TOTAL ASSETS $ 2,253,767 $ 2,283,147 $ 2,318,097 $ (29,380 ) (1.29 )% $ (64,330 ) (2.78 )% LIABILITIES Non-interest checking $ 303,233 $ 286,013 $ 290,496 $ 17,220 6.02 % $ 12,737 4.38 % Interest checking 308,204 333,533 331,032 (25,329 ) (7.59 )% (22,828 ) (6.90 )% Savings 169,031 167,735 172,546 1,296 0.77 % (3,515 ) (2.04 )% Money market 490,711 464,205 464,012 26,506 5.71 % 26,699 5.75 % Time deposits over $250,000 241,134 256,929 220,968 (15,795 ) (6.15 )% 20,166 9.13 % Other time deposits 430,346 467,778 531,612 (37,432 ) (8.00 )% (101,266 ) (19.05 )% Total deposits 1,942,659 1,976,193 2,010,666 (33,534 ) (1.70 )% (68,007 ) (3.38 )% Other liabilities 37,509 36,242 40,444 1,267 3.50 % (2,935 ) (7.26 )% TOTAL LIABILITIES 1,980,168 2,012,435 2,051,110 (32,267 ) (1.60 )% (70,942 ) (3.46 )% STOCKHOLDERS’ EQUITY N/A Paid-in capital 122,988 122,954 120,452 34 0.03 % 2,536 2.11 % Treasury stock (8,762 ) (8,707 ) (1,005 ) (55 ) 0.63 % (7,757 ) 771.84 % Retained earnings 165,483 161,730 155,170 3,753 2.32 % 10,313 6.65 % Accumulated other comprehensive income (loss) (6,110 ) (5,265 ) (7,630 ) (845 ) 16.05 % 1,520 (19.92 )% TOTAL STOCKHOLDERS’ EQUITY 273,599 270,712 266,987 2,887 1.07 % 6,612 2.48 % TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 2,253,767 $ 2,283,147 $ 2,318,097 (29,380 ) (4.21 )% (64,330 ) (2.78 )% Book value per common share $ 40.26 $ 40.01 $ 38.56 $ 0.25 0.62 % $ 1.70 4.41 % Tangible book value per common share1 $ 37.76 $ 37.48 $ 36.00 $ 0.28 0.75 % $ 1.76 4.89 % 1 Tangible book value per common share is a non-GAAP measure. For more information, see “Supplemental Information - Non-GAAP Financial Measures (Unaudited)” below. Princeton Bancorp, Inc. Loan and Deposit Tables (Unaudited) The components of loans receivable, net at March 31, 2026 and December 31, 2025 were as follows: March 31, December 31, 2026 2025 (In thousands) Commercial real estate $ 1,323,347 $ 1,343,531 Commercial and industrial 80,673 76,557 Construction 210,862 209,483 Residential first-lien mortgages 170,553 163,813 Home equity / consumer 36,192 25,359 Total loans 1,821,627 1,818,743 Deferred fees and costs (2,494 ) (2,327 ) Allowance for credit losses (20,033 ) (20,325 ) Loans, net $ 1,799,100 $ 1,796,091 The components of deposits at March 31, 2026 and December 31, 2025 were as follows: March 31, December 31, 2026 2025 (In thousands) Non-interest checking $ 303,233 $ 286,013 Interest checking 308,204 333,533 Savings 169,031 167,735 Money market 490,711 464,205 Time deposits 671,480 724,707 Total deposits $ 1,942,659 $ 1,976,193 Princeton Bancorp, Inc. Consolidated Statements of Income (Unaudited) (Amounts in thousands except per share data) Three Months Ended March 31, 2026 2025 $ Change % Change Interest and dividend income Loans and fees $ 28,066 $ 29,624 $ (1,558 ) (5.3 )% Available-for-sale debt securities: Taxable 1,519 2,616 (1,097 ) (41.9 )% Tax-exempt 274 284 (10 ) (3.5 )% Held-to-maturity debt securities 2 2 — — Other interest and dividend income 1,210 769 441 57.3 % Total interest and dividends 31,071 33,295 (2,224 ) (6.7 )% Interest expense Deposits 12,213 14,538 (2,325 ) (16.0 )% Borrowings — — — N/A Total interest expense 12,213 14,538 (2,325 ) (16.0 )% Net interest income 18,858 18,757 101 0.5 % Provision for (reversal of) credit losses (156 ) 268 (424 ) (158.2 )% Net interest income after provision for (reversal of) credit losses 19,014 18,489 525 2.8 % Non-interest income Income from bank-owned life insurance 507 471 36 7.6 % Fees and service charges 580 511 69 13.5 % Loan fees, including prepayment penalties 528 675 (147 ) (21.8 )% Other 836 533 303 56.8 % Total non-interest income 2,451 2,190 261 11.9 % Non-interest expense Salaries and employee benefits 7,025 7,172 (147 ) (2.0 )% Occupancy and equipment 2,392 2,285 107 4.7 % Professional fees 760 761 (1 ) (0.1 )% Data processing and communications 1,627 1,626 1 0.1 % Federal deposit insurance 300 533 (233 ) (43.7 )% Advertising and promotion 175 171 4 2.3 % Office 131 110 21 19.1 % Other real eastate owned — 27 (27 ) (100.0 )% Core deposit intangible 196 228 (32 ) (14.0 )% Other 809 879 (70 ) (8.0 )% Total non-interest expense 13,415 13,792 (377 ) (2.7 )% Income before income tax expense 8,050 6,887 1,163 16.9 % Income tax expense 1,821 1,509 312 20.7 % Net income $ 6,229 $ 5,378 $ 851 15.8 % Net income per common share - basic $ 0.92 $ 0.78 $ 0.14 17.8 % Net income per common share - diluted $ 0.91 $ 0.77 $ 0.14 18.5 % Weighted average shares outstanding - basic 6,788 6,905 (117 ) (1.7 )% Weighted average shares outstanding - diluted 6,808 6,964 (156 ) (2.2 )% Princeton Bancorp, Inc. Consolidated Statements of Income (Current Quarter vs Prior Quarter) (Unaudited) (Amounts in thousands, except per share data) Three Months Ended March 31, December 31, 2026 2025 $ Change % Change Interest and dividend income Loans and fees $ 28,066 $ 28,597 $ (531 ) (1.9 )% Available-for-sale debt securities: Taxable 1,519 1,797 (278 ) (15.5 )% Tax-exempt 274 276 (2 ) (0.7 )% Held-to-maturity debt securities 2 2 — 0.0 % Other interest and dividend income 1,210 1,084 126 11.6 % Total interest and dividends 31,071 31,756 (685 ) (2.2 )% Interest expense Deposits 12,213 13,126 (913 ) (7.0 )% Borrowings — — — N/A Total interest expense 12,213 13,126 (913 ) (7.0 )% Net interest income 18,858 18,630 228 1.2 % Provision for (reversal of) credit losses (156 ) 102 (258 ) (252.9 )% Net interest income after provision for (reversal of) credit losses 19,014 18,528 486 2.6 % Non-interest income Income from bank-owned life insurance 507 528 (21 ) (4.0 )% Fees and service charges 580 575 5 0.9 % Loan fees, including prepayment penalties 528 500 28 5.6 % Other 836 516 320 62.0 % Total non-interest income 2,451 2,119 332 15.7 % Non-interest expense Salaries and employee benefits 7,025 6,417 608 9.5 % Occupancy and equipment 2,392 2,156 236 10.9 % Professional fees 760 789 (29 ) (3.7 )% Data processing and communications 1,627 1,600 27 1.7 % Federal deposit insurance 300 275 25 9.1 % Advertising and promotion 175 160 15 9.4 % Office 131 117 14 12.0 % Core deposit intangible 196 200 (4 ) (2.0 )% Other 809 1,015 (206 ) (20.3 )% Total non-interest expense 13,415 12,729 686 5.4 % Income before income tax expense 8,050 7,918 132 1.7 % Income tax expense 1,821 1,838 (17 ) (0.9 )% Net income $ 6,229 $ 6,080 $ 149 2.5 % Net income per common share - basic $ 0.92 $ 0.90 $ 0.02 2.2 % Net income per common share - diluted $ 0.91 $ 0.90 $ 0.01 1.1 % Weighted average shares outstanding - basic 6,788 6,765 23 0.3 % Weighted average shares outstanding - diluted 6,808 6,787 21 0.3 % Princeton Bancorp, Inc. Consolidated Average Statement of Financial Condition (Unaudited) (Dollars in thousands) For the Three Months Ended March 31, 2026 2025 Change in Change in Average Balance Yield/ Rate Average Balance Yield/ Rate Average Balance Yield/ Rate Earning assets Loans $ 1,800,201 6.32 % $ 1,851,439 6.49 % $ (51,238 ) (0.17 )% Securities Taxable available-for-sale 132,740 4.58 % 203,992 5.13 % (71,252 ) (0.55 )% Tax-exempt available-for-sale 40,054 2.73 % 39,978 2.84 % 76 (0.11 )% Held-to-maturity 152 5.33 % 160 5.33 % (8 ) — Total Securities 172,946 4.15 % 244,130 4.76 % (71,184 ) (0.61 )% Other interest earning assets Federal funds sold 68,415 3.72 % 53,314 4.42 % 15,101 (0.70 )% Other interest-earning assets 62,700 3.84 % 16,028 4.81 % 46,672 (0.97 )% Other interest-earning assets 131,115 3.78 % 69,342 4.51 % 61,773 (0.73 )% Total interest-earning assets 2,104,262 5.99 % 2,164,911 6.24 % (60,649 ) (0.25 )% Total non-earning assets 164,573 170,945 Total assets $ 2,268,835 $ 2,335,856 Interest-bearing liabilities Checking $ 329,872 2.03 % $ 325,278 1.94 % $ 4,594 0.09 % Savings 168,820 2.13 % 171,404 2.24 % (2,584 ) (0.11 )% Money market 470,343 2.94 % 476,338 3.10 % (5,995 ) (0.16 )% Certificates of deposit 700,384 3.63 % 765,942 4.45 % (65,558 ) (0.82 )% Total interest-bearing deposits 1,669,419 2.97 % 1,738,962 3.39 % (69,543 ) (0.42 )% Non-interest bearing deposits 288,984 287,506 Total deposits 1,958,403 2.53 % 2,026,468 2.91 % (68,065 ) (0.38 )% Borrowings — N/A — N/A — N/A Total interest-bearing liabilities (excluding non-interest deposits) 1,669,419 2.97 % 1,738,962 3.39 % (69,543 ) (0.42 )% Non-interest-bearing deposits 288,984 287,506 Total cost of funds 1,958,403 2.53 % 2,026,468 2.91 % (68,065 ) (0.38 )% Accrued expenses and other liabilities 38,114 45,354 Stockholders’ equity 272,318 264,034 Total liabilities and stockholders’ equity $ 2,268,835 $ 2,335,856 Net interest spread 3.02 % 2.85 % Net interest margin 3.63 % 3.51 % Net interest margin (FTE)1, 2 3.67 % 3.56 % 1 Includes federal and state tax effect of tax-exempt securities and loans. 2 This is a non-GAAP financial measure. For more information, see “Supplemental Information - Non-GAAP Financial Measures (Unaudited)” below. Princeton Bancorp, Inc. Consolidated Average Statement of Financial Condition (Unaudited) (Dollars in thousands) For the Three Months Ended March 31, 2026 December 31, 2025 Change in Change in Average Balance Yield/ Rate Average Balance Yield/ Rate Average Balance Yield/ Rate Earning assets Loans $ 1,800,201 6.32 % $ 1,801,913 6.30 % $ (1,712 ) 0.02 % Securities Taxable available-for-sale 132,740 4.58 % 157,363 4.57 % (24,623 ) 0.01 % Tax-exempt available-for-sale 40,054 2.73 % 39,981 2.77 % 73 (0.04 )% Held-to-maturity 152 5.33 % 154 5.33 % (2 ) — Total Securities 172,946 4.15 % 197,498 4.20 % (24,552 ) (0.05 )% Other interest earning assets Federal funds sold 68,415 3.72 % 87,963 3.83 % (19,548 ) (0.11 )% Other interest-earning assets 62,700 3.84 % 21,283 4.35 % 41,417 (0.51 )% Other interest-earning assets 131,115 3.78 % 109,246 3.94 % 21,869 (0.16 )% Total interest-earning assets 2,104,262 5.99 % 2,108,657 5.97 % (4,395 ) 0.02 % Total non-earning assets 164,573 168,225 Total assets $ 2,268,835 $ 2,276,882 Interest-bearing liabilities Checking $ 329,872 2.03 % $ 316,278 2.04 % $ 13,594 (0.01 )% Savings 168,820 2.13 % 167,008 2.26 % 1,812 (0.13 )% Money market 470,343 2.94 % 468,642 3.09 % 1,701 (0.15 )% Certificates of deposit 700,384 3.63 % 725,795 3.77 % (25,411 ) (0.14 )% Total interest-bearing deposits 1,669,419 2.97 % 1,677,723 3.10 % (8,304 ) (0.13 )% Non-interest bearing deposits 288,984 293,467 (4,483 ) Total deposits 1,958,403 2.53 % 1,971,190 2.64 % (12,787 ) (0.11 )% Borrowings — N/A — N/A — N/A Total interest-bearing liabilities (excluding non-interest deposits) 1,669,419 2.97 % 1,677,723 3.10 % (8,304 ) (0.13 )% Non-interest-bearing deposits 288,984 293,467 (4,483 ) — Total cost of funds 1,958,403 2.53 % 1,971,190 2.64 % (12,787 ) (0.11 )% Accrued expenses and other liabilities 38,114 37,721 Stockholders’ equity 272,318 267,971 Total liabilities and stockholders’ equity $ 2,268,835 $ 2,276,882 Net interest spread 3.02 % 2.87 % Net interest margin 3.63 % 3.51 % Net interest margin (FTE)1, 2 3.67 % 3.54 % 1 Includes federal and state tax effect of tax-exempt securities and loans. 2 This is a non-GAAP financial measure. For more information, see “Supplemental Information - Non-GAAP Financial Measures (Unaudited)” below. Princeton Bancorp, Inc. Quarterly Financial Highlights (Unaudited) 2026 2025 2025 2025 2025 March December September June March Return on average assets 1.11 % 1.06 % 1.15 % 0.12 % 0.93 % Return on average equity 9.28 % 9.00 % 9.75 % 1.04 % 8.26 % Return on average tangible equity1 9.90 % 9.62 % 10.45 % 1.12 % 8.86 % Net interest margin 3.63 % 3.51 % 3.77 % 3.54 % 3.51 % Net interest margin (FTE)1 3.67 % 3.54 % 3.81 % 3.58 % 3.56 % Adjusted efficiency ratio1 62.03 % 60.38 % 63.68 % 63.10 % 64.75 % COMMON STOCK DATA Market value at period end $ 33.77 $ 34.69 $ 31.84 $ 30.54 $ 30.55 Market range: High $ 37.84 $ 36.69 $ 34.84 $ 32.97 $ 34.31 Low $ 32.98 $ 29.75 $ 29.95 $ 27.69 $ 30.02 Book value per common share at period end $ 40.26 $ 40.01 $ 39.48 $ 38.49 $ 38.56 Tangible book value per common share1 $ 37.76 $ 37.48 $ 36.80 $ 35.91 $ 36.00 Shares of common stock outstanding (in thousands) 6,796 6,766 6,773 6,806 6,923 CAPITAL RATIOS Total capital (to risk-weighted assets)2 13.98 % 14.01 % 13.78 % 13.05 % 13.67 % Tier 1 capital (to risk-weighted assets)2 12.93 % 12.95 % 12.73 % 12.01 % 12.48 % Tier 1 capital (to average assets)2 11.35 % 11.12 % 11.15 % 10.63 % 10.91 % Equity to assets 12.14 % 11.86 % 11.96 % 11.69 % 11.52 % Tangible equity to tangible assets1 11.47 % 11.19 % 11.27 % 10.99 % 10.83 % CREDIT QUALITY DATA (Dollars in thousands) Net charge-offs (recoveries) $ 1 $ 235 $ (86 ) $ 9,859 $ (60 ) Annualized net charge-offs (recoveries) to average loans 0.000 % (0.003 )% (0.019 )% 2.136 % (0.013 )% Nonperforming loans $ 16,478 $ 16,529 $ 16,710 $ 16,530 $ 26,522 Other real estate owned — — — — — Total nonperforming assets $ 16,478 $ 16,529 $ 16,710 $ 16,530 $ 26,522 Allowance for credit losses as a percent of: Period-end loans, net of deferred fees and costs 1.10 % 1.12 % 1.14 % 1.14 % 1.29 % Nonperforming loans 121.58 % 122.97 % 122.33 % 127.13 % 90.27 % Nonperforming assets 121.58 % 122.97 % 122.33 % 127.13 % 90.27 % Nonaccrual loans as a percent of total loans, net of deferred fees and costs 0.91 % 0.91 % 0.93 % 0.90 % 1.43 % 1 This is a non-GAAP financial measure. For more information, see “Supplemental Information - Non-GAAP Financial Measures (Unaudited)” below. 2 Capital ratios presented herein are derived from the Call Report of The Bank of Princeton. Princeton Bancorp, Inc Supplemental Information – Non-GAAP Financial Measures (Unaudited) This press release contains certain supplemental financial information, described in the table below, which has been determined by methods other than U.S. Generally Accepted Accounting Principles (“GAAP”) that management uses in its analysis of its performance. These non-GAAP financial measures are “tangible book value per common share,” “return on average tangible equity,” “efficiency ratio,” “adjusted efficiency ratio,” “tangible equity to tangible assets,” and “net interest margin on a fully taxable equivalent.” For the purpose of calculating return on average tangible equity, net income for such period is annualized and divided by average tangible equity during such period. Average tangible equity equals average shareholders’ equity during the applicable period less average goodwill and other intangible assets during the applicable period. For the purpose of calculating tangible equity to tangible assets, tangible equity is divided by tangible assets. Tangible equity equals total shareholders’ equity less goodwill and other intangible assets, in each case at period end. Tangible assets equal total assets less goodwill and other intangible assets, in each case at period end. For the purpose of calculating tangible book value per common share, tangible equity is divided by the number of common shares outstanding, in each case at period end. For the purpose of calculating efficiency ratio, total operating expense is divided by total revenue for the period. For the purpose of calculating adjusted efficiency ratio, total operating expense minus core deposit intangible amortization is divided by total revenue for the period. For the purpose of calculating net interest margin on a fully taxable equivalent, fully taxable equivalent adjustments are added to net interest income for the period, net interest income fully taxable equivalent for such period is annualized and divided by average interest earning assets during such period. Management believes that these non-GAAP financial measures provide valuable insights into understanding our financial results by excluding certain items that can distort our core business results. This allows investors to better understand our ongoing operations and assess our future potential, while still being transparent about the adjustments made to arrive at these non-GAAP figures. These non-GAAP measures should not be considered a substitute for GAAP basis measures and results and the Company strongly encourages investors to review its consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. In addition to the items noted above, defined footnotes are included in the Supplemental Information – Non-GAAP Financial Measures table below. Income annualized is calculated using income for the period divided by the number of days in the period, then multiplied by total days in the year. Average equity is calculated using the sum of daily equity balance for the period, divided by the number of days in the period. Fully taxable equivalent adjustment is calculated using tax exempt loan income plus tax exempt securities income for the period, multiplied by a tax rate of 28%. Princeton Bancorp, Inc. Supplemental Information - Non-GAAP Financial Measures (Unaudited) (Dollars in thousands) Three months ended 2026 2025 2025 2025 2025 March December September June March Net (loss) income (annualized)1 $ 25,262 $ 24,122 $ 25,653 $ 2,760 $ 21,811 Average equity2 272,318 267,971 263,088 264,878 264,034 Less: average intangible assets3 (17,084 ) (17,280 ) (17,493 ) (17,701 ) (17,929 ) Average Tangible Equity $ 255,234 $ 250,691 $ 245,595 $ 247,177 $ 246,105 Return on average tangible equity 9.90 % 9.62 % 10.45 % 1.12 % 8.86 % Net interest income $ 18,858 $ 18,630 $ 19,619 $ 18,810 $ 18,757 Other income 2,451 2,119 1,908 2,251 2,190 Total revenue 21,309 20,749 21,527 21,061 20,947 Non-interest expenses $ 13,415 $ 12,729 $ 13,917 $ 13,509 $ 13,792 Less: core deposit intangible amortization (196 ) (200 ) (209 ) (219 ) (228 ) Total operating expenses $ 13,219 $ 12,529 $ 13,708 $ 13,290 $ 13,564 Adjusted efficiency ratio 62.03 % 60.38 % 63.68 % 63.10 % 64.75 % Total Assets $ 2,253,767 $ 2,283,147 $ 2,229,090 $ 2,241,668 $ 2,318,097 Less: intangible assets (16,961 ) (17,157 ) (17,357 ) (17,566 ) (17,784 ) Tangible assets $ 2,236,806 $ 2,265,990 $ 2,211,733 $ 2,224,102 $ 2,300,313 Stockholders’ equity $ 273,599 $ 270,712 $ 266,607 $ 261,946 $ 266,987 Less: intangible assets (16,961 ) (17,157 ) (17,357 ) (17,566 ) (17,784 ) Tangible equity $ 256,638 $ 253,555 $ 249,250 $ 244,380 $ 249,203 Tangible equity to tangible assets 11.47 % 11.19 % 11.27 % 10.99 % 10.83 % Tangible equity $ 256,638 $ 253,555 $ 249,250 $ 244,380 $ 249,203 Shares outstanding (in thousands) 6,796 6,766 6,773 6,806 6,923 Tangible book value per share $ 37.76 $ 37.48 $ 36.80 $ 35.91 $ 36.00 1 Income annualized is calculated using income for the period divided by the number of days in the period, then multiplied by total days in the year. 2 Average equity is calculated using the sum of daily equity balance for the period, divided by the number of days in the period. 3 Average intangible assets is calculated using the sum of daily equity balance for the period, divided by the number of days in the period. Three months ended 2026 2026 2026 2026 2025 March December September June March Net interest income $ 18,858 $ 18,630 $ 19,619 $ 18,810 $ 18,757 FTE adjustment1 207 209 211 212 250 Net interest income FTE $ 19,065 $ 18,839 $ 19,830 $ 19,022 $ 19,007 Net interest income FTE (annualized)2 $ 77,318 $ 74,743 $ 78,675 $ 76,297 $ 77,083 Average interest earning assets 2,104,262 2,108,657 2,063,990 2,129,246 2,164,911 Net interest margin FTE 3.67 % 3.54 % 3.81 % 3.58 % 3.56 % 1 Fully taxable equivalent adjustment is calculated using tax exempt loan income plus tax exempt securities income for the period, multiplied by a tax rate of 28%. 2 Income annualized is calculated using income for the period divided by the number of days in the period, then multiplied by total days in the year. Source: The Bank of Princeton