Princeton Bancorp Announces Second Quarter 2026 Results

Company Release - 7/23/2026 Princeton Bancorp, Inc. (the “Company”) (NASDAQ - BPRN), the bank holding company for The Bank of Princeton (the “Bank”), today reported its unaudited financial condition and results of operations for the quarter and six months ended June 30, 2026. President/CEO Edward Dietzler spoke to the quarter results, "We are pleased with our strong second quarter performance, which reflects the continued execution of our strategic priorities and the resilience of our franchise. Net income totaled $7.1 million, or diluted earnings per share of $1.04, supported by a 6% increase in net interest income and continued expansion of our net interest margin compared to the first quarter of 2026.” The Company reported net income of $7.1 million, or $1.04 per diluted common share, for the second quarter of 2026, compared to $6.2 million, or $0.91 per diluted common share, for the first quarter of 2026, and net income of $688 thousand, or $0.10 per diluted common share, for the second quarter of 2025. The increase in net income for the second quarter of 2026 when compared to the first quarter of 2026 was primarily due to an increase in net interest income of $1.2 million, and an increase in the reversal of credit losses of $197 thousand, partially offset by an increase in non-interest expense of $231 thousand, and an increase in income tax expense of $281 thousand. The increase in net income for the second quarter of 2026 when compared to the second quarter of 2025 was primarily due to a decrease in the provision for credit losses of $7.3 million, an increase in net interest income of $1.2 million, and an increase in non-interest income of $185 thousand, partially offset by increases of $2.2 million in income tax expenses and $137 thousand in non-interest expense. Review of Statements of Financial Condition Total assets were $2.25 billion at June 30, 2026, a decrease of $34.1 million, or 1.49% when compared to $2.28 billion at December 31, 2025. The primary reasons for the decrease in total assets were related to decreases in cash and cash equivalents of $69.5 million and net loans of $44.6 million, partially offset by an increase in investment securities of $78.9 million. The decrease in the Company’s net loans consisted of decreases of $69.7 million in commercial real estate loans and $15.3 million in construction loans, partially offset by increases of $25.4 million in home equity and consumer loans, and $15.1 million in residential mortgages. Total deposits on June 30, 2026, decreased $40.5 million, or 2.05%, when compared to December 31, 2025. The decrease in the Company’s deposits consisted primarily of decreases in certificates of deposit of $97.0 million, interest-bearing checking deposits of $20.9 million, and savings deposits of $3.0 million, partially offset by increases in money market deposits of $57.1 million, and non-interest checking deposits of $23.2 million. The decrease in the certificates was strategically planned, including a reduction in brokered deposits of $11 million, implemented by a pricing structure designed to reduce the Bank’s cost of funds. On balance sheet liquidity remains strong at June 30, 2026. Total stockholders’ equity at June 30, 2026, increased $9.2 million, or 3.40% when compared to December 31, 2025. The increase was primarily due to an increase in retained earnings of $8.7 million (which consisted of $13.3 million in net income, partially offset by $4.6 million of cash dividends recorded during the period), and an increase in paid-in capital from the exercise of stock options of $939 thousand. The ratio of equity to total assets at June 30, 2026, and at December 31, 2025, was 12.4% and 11.9%, respectively. Asset Quality At June 30, 2026, non-performing assets totaled $16.3 million, a decrease of $195 thousand when compared to the amount at December 31, 2025. Review of Quarterly and Six-Month Financial Results Net interest income was $20.0 million for the second quarter of 2026, an increase of $1.2 million over the first quarter of 2026, and an increase of $1.2 million compared to $18.8 million for the second quarter of 2025. Net interest margin for the second quarter of 2026 was 3.86%, an increase of 23 basis points when compared to the first quarter of 2026, and an increase of 32 basis points when compared to the second quarter of 2025. The increase in net interest income when compared with the first quarter of 2026 was primarily related to a decrease in interest expense of $597 thousand, or 4.9%, and an increase in interest income of $585 thousand, or 1.9%. The increase in net interest income when compared with the second quarter of 2025 was primarily due to a $2.3 million decrease in interest expense, partially offset by a decrease in interest income of $1.1 million. When comparing the second quarter of 2026 and the second quarter of 2025 periods, the decrease in interest expense and the increase in net interest margin were primarily associated with a decrease in total interest-bearing deposits of $68.8 million, as well as a decrease in the Company’s cost of funds of 40 basis points. The decrease in interest income for the second quarter of 2026 when compared to the second quarter of 2025 was due to a $46.6 million decrease in average interest-earning assets (caused mostly by a $50.4 million reduction in the average balance of loans, and a $39.7 million reduction in the average balance of total securities, partially offset by an increase of $43.5 million in the average balance of other interest-earning assets), and a 7-basis point decrease in the yield on interest-earning assets. The Company recorded a reversal of credit losses of $353 thousand during the second quarter of 2026, which consisted of a $314 thousand decrease recorded to the allowance of credit losses on loans, and a $39 thousand decrease to the provision for credit losses related to unfunded commitments, which are recorded in other liabilities on the Company’s statements of financial condition. The current quarter's reversal of credit losses recorded on the Company’s statements of income was $197 thousand greater than when compared to the reversal of credit losses for the first quarter of 2026, and was $7.3 million lower when compared to the provision for credit losses for the second quarter of 2025. The coverage ratio of the allowance for credit losses to period end loans was 1.13% at June 30, 2026, and 1.12% at December 31, 2025. Total non-interest income of $2.4 million for the second quarter of 2026 decreased $15 thousand or 0.6% when compared to the first quarter of 2026 and increased $185 thousand or 8.2% when compared to the second quarter of 2025. The decrease in the second quarter of 2026 when compared to the first quarter of 2026 was due to a decrease in other non-interest income of $421 thousand, which is related to a gain recorded on an equity investment in the amount of $232 thousand in the first quarter of 2026, partially offset by an increase of $380 thousand in loan fees. The increase over the prior year’s second quarter was primarily due to an increase in loan fees of $205 thousand, and in fees and service charges of $46 thousand, partially offset by a decrease in other non-interest income of $88 thousand. Total non-interest expense of $13.6 million for the second quarter of 2026 increased $231 thousand, or 1.7%, when compared to the first quarter of 2026. This increase over the prior quarter was primarily due to increases in professional fees of $214 thousand, in salaries and employee benefits expense of $128 thousand, and in other non-interest expense of $119 thousand, partially offset by decreases in occupancy and equipment of $140 thousand, and in data processing and communications expenses of $46 thousand. Total non-interest expense for the second quarter of 2026 increased $137 thousand or 1.0% when compared to the second quarter of 2025. This increase was primarily related to increases in professional fees of $253 thousand, occupancy and equipment expense of $105 thousand, and salaries and employee benefits expense of $60 thousand, partially offset by decreases in federal deposit insurance expense of $115 thousand, office expense of $102 thousand, and other non-interest expense of $53 thousand. For the quarter ended June 30, 2026, the Company recorded an income tax expense of $2.1 million, resulting in an effective tax rate of 22.9%, compared to an income tax expense of $1.8 million resulting in an effective tax rate of 22.6% for the quarter ended March 31, 2026 and compared to an income tax benefit of ($92) thousand resulting in an effective tax rate of (15.4)% for the quarter ended June 30, 2025. For the six-month period ended June 30, 2026, the Company recorded net income of $13.3 million, or $1.95 per diluted common share, compared to $6.1 million, or $0.88 per diluted common share, for the same period in 2025. The increase in net income was primarily due to a decrease of $7.7 million in the provision for credit losses, an increase in net interest income of $1.3 million, an increase in non-interest income of $446 thousand, and a decrease in non-interest expense of $240 thousand, partially offset by an increase in income tax expense of $2.5 million, when compared to the prior year period. 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 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. 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 shareholders 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 the global impact of foreign military conflicts in Iran, the Middle East and elsewhere, 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 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) June 30, 2026 vs June 30, 2026 vs June 30, December 31, June 30, December 31, 2025 June 30, 2025 2026 2025 2025 $ Change % Change $ Change % Change ASSETS Cash and cash equivalents $ 66,190 $ 135,686 $ 21,094 $ (69,496 ) (51.22 )% $ 45,096 213.79 % Securities available-for-sale- taxable 222,906 142,817 185,177 80,089 56.08 % 37,729 20.37 % Securities available-for-sale- tax-exempt 38,585 39,752 39,586 (1,167 ) (2.94 )% (1,001 ) (2.53 )% Securities held-to-maturity 149 153 157 (4 ) (2.61 )% (8 ) (5.10 )% Loans receivable, net of deferred loan fees 1,771,500 1,816,416 1,839,228 (44,916 ) (2.47 )% (67,728 ) (3.68 )% Allowance for credit losses on loans (19,963 ) (20,325 ) (21,014 ) 362 (1.78 )% 1,051 (5.00 )% Goodwill 14,381 14,381 14,381 — — — — Core deposit intangible 2,394 2,776 3,185 (382 ) (13.76 )% (791 ) (24.84 )% Other assets 154,870 153,491 159,874 1,379 0.90 % (5,004 ) (3.13 )% TOTAL ASSETS $ 2,251,012 $ 2,285,147 $ 2,241,668 $ (34,135 ) (1.49 )% $ 9,344 0.42 % LIABILITIES Non-interest checking $ 309,244 $ 286,013 $ 299,902 $ 23,231 8.12 % $ 9,342 3.12 % Interest checking 312,640 333,533 282,656 (20,893 ) (6.26 )% 29,984 10.61 % Savings 164,744 167,735 169,663 (2,991 ) (1.78 )% (4,919 ) (2.90 )% Money market 521,309 464,205 463,206 57,104 12.30 % 58,103 12.54 % Time deposits over $250,000 236,109 256,929 220,474 (20,820 ) (8.10 )% 15,635 7.09 % Other time deposits 391,646 467,778 496,471 (76,132 ) (16.28 )% (104,825 ) (21.11 )% Total deposits 1,935,692 1,976,193 1,932,372 (40,501 ) (2.05 )% 3,320 0.17 % Borrowings — — 10,000 — N/A (10,000 ) (100.00 )% Other liabilities 35,397 38,242 37,350 (2,845 ) (7.44 )% (1,953 ) (5.23 )% TOTAL LIABILITIES 1,971,089 2,014,435 1,979,722 (43,346 ) (2.15 )% (8,633 ) (0.44 )% STOCKHOLDERS’ EQUITY Paid-in capital 123,893 122,954 121,684 939 0.76 % 2,209 1.82 % Treasury stock (9,034 ) (8,707 ) (6,413 ) (327 ) 3.76 % (2,621 ) 40.87 % Retained earnings 170,424 161,730 153,718 8,694 5.38 % 16,706 10.87 % Accumulated other comprehensive income (loss) (5,360 ) (5,265 ) (7,043 ) (95 ) 1.80 % 1,683 (23.90 )% TOTAL STOCKHOLDERS’ EQUITY 279,923 270,712 261,946 9,211 3.40 % 17,977 6.86 % TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 2,251,012 $ 2,285,147 $ 2,241,668 (34,135 ) (1.49 )% 9,344 0.42 % Book value per common share $ 41.09 $ 40.01 $ 38.49 $ 1.08 2.70 % $ 2.60 6.76 % Tangible book value per common share1 $ 38.62 $ 37.48 $ 35.91 $ 1.14 3.04 % $ 2.71 7.55 % 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 June 30, 2026 and December 31, 2025 were as follows: June 30, December 31, 2026 2025 (In thousands) Commercial real estate $ 1,273,815 $ 1,343,531 Commercial and industrial 76,570 76,557 Construction 194,188 209,483 Residential first-lien mortgages 178,954 163,813 Home equity / consumer 50,754 25,359 Total loans 1,774,281 1,818,743 Deferred fees and costs (2,781 ) (2,327 ) Allowance for credit losses on loans (19,963 ) (20,325 ) Loans, net $ 1,751,537 $ 1,796,091 The components of deposits at June 30, 2026 and December 31, 2025 were as follows: June 30, December 31, 2026 2025 (In thousands) Non-interest checking $ 309,244 $ 286,013 Interest checking 312,640 333,533 Savings 164,744 167,735 Money market 521,309 464,205 Time deposits 627,755 724,707 Total deposits $ 1,935,692 $ 1,976,193 Princeton Bancorp, Inc. Consolidated Statements of Income (Unaudited) (Amounts in thousands except per share data) Three Months Ended June 30, 2026 2025 $ Change % Change Interest and dividend income Loans and fees $ 28,681 $ 29,620 $ (939 ) (3.2 )% Available-for-sale debt securities: Taxable 1,832 2,298 (466 ) (20.3 )% Tax-exempt 264 279 (15 ) (5.4 )% Held-to-maturity debt securities 2 2 — — Other interest and dividend income 877 557 320 57.5 % Total interest and dividends 31,656 32,756 (1,100 ) (3.4 )% Interest expense Deposits 11,616 13,933 (2,317 ) (16.6 )% Borrowings — 13 (13 ) (100.0 )% Total interest expense 11,616 13,946 (2,330 ) (16.7 )% Net interest income 20,040 18,810 1,230 6.5 % Provision for (reversal of) credit losses (353 ) 6,956 (7,309 ) (105.1 )% Net interest income after provision for (reversal of) credit losses 20,393 11,854 8,539 72.0 % Non-interest income Income from bank-owned life insurance 516 494 22 4.5 % Fees and service charges 597 551 46 8.3 % Loan fees, including prepayment penalties 908 703 205 29.2 % Other 415 503 (88 ) (17.5 )% Total non-interest income 2,436 2,251 185 8.2 % Non-interest expense Salaries and employee benefits 7,153 7,093 60 0.8 % Occupancy and equipment 2,252 2,147 105 4.9 % Professional fees 974 721 253 35.1 % Data processing and communications 1,581 1,543 38 2.5 % Federal deposit insurance 300 415 (115 ) (27.7 )% Advertising and promotion 136 152 (16 ) (10.5 )% Office 136 238 (102 ) (42.9 )% Core deposit intangible 186 219 (33 ) (15.1 )% Other 928 981 (53 ) (5.4 )% Total non-interest expense 13,646 13,509 137 1.0 % Income before income tax expense (benefit) 9,183 596 8,587 1440.8 % Income tax expense (benefit) 2,102 (92 ) 2,194 (2384.8 )% Net income $ 7,081 $ 688 $ 6,393 929.2 % Net income per common share - basic $ 1.04 $ 0.10 $ 0.94 937.5 % Net income per common share - diluted $ 1.04 $ 0.10 $ 0.94 940.1 % Weighted average shares outstanding - basic 6,812 6,867 (55 ) (0.8 )% Weighted average shares outstanding - diluted 6,823 6,895 (72 ) (1.0 )% Princeton Bancorp, Inc. Consolidated Statements of Income (Current Quarter vs Prior Quarter) (Unaudited) (Amounts in thousands, except per share data) Three Months Ended June 30, March 31, 2026 2026 $ Change % Change Interest and dividend income Loans and fees $ 28,681 $ 28,066 $ 615 2.2 % Available-for-sale debt securities: Taxable 1,832 1,519 313 20.6 % Tax-exempt 264 274 (10 ) (3.6 )% Held-to-maturity debt securities 2 2 — 0.0 % Other interest and dividend income 877 1,210 (333 ) (27.5 )% Total interest and dividends 31,656 31,071 585 1.9 % Interest expense Deposits 11,616 12,213 (597 ) (4.9 )% Borrowings — — — N/A Total interest expense 11,616 12,213 (597 ) (4.9 )% Net interest income 20,040 18,858 1,182 6.3 % Provision for (reversal of) credit losses (353 ) (156 ) (197 ) 126.3 % Net interest income after provision for (reversal of) credit losses 20,393 19,014 1,379 7.3 % Non-interest income Income from bank-owned life insurance 516 507 9 1.8 % Fees and service charges 597 580 17 2.9 % Loan fees, including prepayment penalties 908 528 380 72.0 % Other 415 836 (421 ) (50.4 )% Total non-interest income 2,436 2,451 (15 ) (0.6 )% Non-interest expense Salaries and employee benefits 7,153 7,025 128 1.8 % Occupancy and equipment 2,252 2,392 (140 ) (5.9 )% Professional fees 974 760 214 28.2 % Data processing and communications 1,581 1,627 (46 ) (2.8 )% Federal deposit insurance 300 300 — 0.0 % Advertising and promotion 136 175 (39 ) (22.3 )% Office 136 131 5 3.8 % Core deposit intangible 186 196 (10 ) (5.1 )% Other 928 809 119 14.7 % Total non-interest expense 13,646 13,415 231 1.7 % Income before income tax expense 9,183 8,050 1,133 14.1 % Income tax expense 2,102 1,821 281 15.4 % Net income $ 7,081 $ 6,229 $ 852 13.7 % Net income per common share - basic $ 1.04 $ 0.92 $ 0.12 13.0 % Net income per common share - diluted $ 1.04 $ 0.91 $ 0.13 14.3 % Weighted average shares outstanding - basic 6,812 6,788 24 0.4 % Weighted average shares outstanding - diluted 6,823 6,808 15 0.2 % Princeton Bancorp, Inc. Consolidated Statements of Income (Unaudited) (Amounts in thousands, except per share data) Six Months Ended June 30, 2026 2025 $ Change % Change Interest and dividend income Loans and fees $ 56,747 $ 59,244 $ (2,497 ) (4.2 )% Available-for-sale debt securities: Taxable 3,351 4,914 (1,563 ) (31.8 )% Tax-exempt 538 563 (25 ) (4.4 )% Held-to-maturity debt securities 4 4 — — Other interest and dividend income 2,087 1,326 761 57.4 % Total interest and dividends 62,727 66,051 (3,324 ) (5.0 )% Interest expense Deposits 23,829 28,471 (4,642 ) (16.3 )% Borrowings — 13 (13 ) (100.0 )% Total interest expense 23,829 28,484 (4,655 ) (16.3 )% Net interest income 38,898 37,567 1,331 3.5 % Provision for (reversal of) credit losses (509 ) 7,224 (7,733 ) (107.0 )% Net interest income after provision for (reversal of) credit losses 39,407 30,343 9,064 29.9 % Non-interest income Income from bank-owned life insurance 1,023 965 58 6.0 % Fees and service charges 1,177 1,062 115 10.8 % Loan fees, including prepayment penalties 1,436 1,378 58 4.2 % Other 1,251 1,036 215 20.8 % Total non-interest income 4,887 4,441 446 10.0 % Non-interest expense Salaries and employee benefits 14,178 14,265 (87 ) (0.6 )% Occupancy and equipment 4,644 4,432 212 4.8 % Professional fees 1,734 1,482 252 17.0 % Data processing and communications 3,208 3,169 39 1.2 % Federal deposit insurance 600 948 (348 ) (36.7 )% Advertising and promotion 311 323 (12 ) (3.7 )% Office 267 348 (81 ) (23.3 )% Other real estate owned — 27 (27 ) (100.0 )% Core deposit intangible 382 447 (65 ) (14.5 )% Other 1,737 1,860 (123 ) (6.6 )% Total non-interest expense 27,061 27,301 (240 ) (0.9 )% Income before income tax expense 17,233 7,483 9,750 130.3 % Income tax expense 3,923 1,417 2,506 176.9 % Net income $ 13,310 $ 6,066 $ 7,244 119.4 % Net income per common share - basic $ 1.96 $ 0.88 $ 1.08 122.7 % Net income per common share - diluted $ 1.95 $ 0.88 $ 1.07 121.6 % Weighted average shares outstanding - basic 6,800 6,886 (86 ) (1.3 )% Weighted average shares outstanding - diluted 6,816 6,929 (113 ) (1.6 )% Princeton Bancorp, Inc. Consolidated Average Statement of Financial Condition (Unaudited) (Dollars in thousands) For the Three Months Ended June 30, 2026 2025 Change in Change in Average Balance Yield/ Rate Average Balance Yield/ Rate Average Balance Yield/ Rate Earning assets Loans $ 1,795,516 6.41 % $ 1,845,920 6.44 % $ (50,404 ) (0.03 )% Securities Taxable available-for-sale 155,641 4.71 % 195,152 4.71 % (39,511 ) — Tax-exempt available-for-sale 38,806 2.72 % 39,025 2.86 % (219 ) (0.14 )% Held-to-maturity 150 5.33 % 158 5.33 % (8 ) — Total Securities 194,597 4.31 % 234,335 4.40 % (39,738 ) (0.09 )% Other interest earning assets Federal funds sold 8,817 3.66 % 34,201 4.42 % (25,384 ) (0.76 )% Other interest-earning assets 83,676 3.82 % 14,790 4.91 % 68,886 (1.09 )% Other interest-earning assets 92,493 3.80 % 48,991 4.57 % 43,502 (0.77 )% Total interest-earning assets 2,082,606 6.10 % 2,129,246 6.17 % (46,640 ) (0.07 )% Total non-earning assets 167,339 165,803 Total assets $ 2,249,945 $ 2,295,049 Interest-bearing liabilities Checking $ 323,266 2.04 % $ 314,336 2.00 % $ 8,930 0.04 % Savings 165,712 2.07 % 170,644 2.29 % (4,932 ) (0.22 )% Money market 495,284 2.92 % 464,917 3.14 % 30,367 (0.22 )% Certificates of deposit 644,658 3.43 % 747,773 4.16 % (103,115 ) (0.73 )% Total interest-bearing deposits 1,628,920 2.86 % 1,697,670 3.29 % (68,750 ) (0.43 )% Non-interest checking 306,096 288,608 Total deposits 1,935,016 2.41 % 1,986,278 2.81 % (51,262 ) (0.40 )% Borrowings — N/A 1,259 4.18 % (1,259 ) N/A Total interest-bearing liabilities (excluding non-interest deposits) 1,628,920 2.86 % 1,698,929 3.29 % (70,009 ) (0.43 )% Non-interest-bearing deposits 306,096 288,608 Total cost of funds 1,935,016 2.41 % 1,987,537 2.81 % (52,521 ) (0.40 )% Accrued expenses and other liabilities 39,252 42,634 Stockholders’ equity 275,677 264,878 Total liabilities and stockholders’ equity $ 2,249,945 $ 2,295,049 Net interest spread 3.24 % 2.88 % Net interest margin 3.86 % 3.54 % Net interest margin (FTE)1, 2 3.90 % 3.58 % 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 Six Months Ended June 30, 2026 2025 Change in Change in Average Balance Yield/ Rate Average Balance Yield/ Rate Average Balance Yield/ Rate Earning assets Loans $ 1,797,846 6.37 % $ 1,848,664 6.46 % $ (50,818 ) (0.09 )% Securities Taxable available-for-sale 144,254 4.65 % 199,548 4.92 % (55,294 ) (0.27 )% Tax-exempt available-for-sale 39,427 2.73 % 39,499 2.85 % (72 ) (0.12 )% Held-to-maturity 151 5.33 % 159 5.33 % (8 ) 0.00 % Securities 183,832 4.24 % 239,206 4.58 % (55,374 ) (0.34 )% Other interest earning assets Federal funds sold 38,451 3.72 % 43,705 4.42 % (5,254 ) (0.70 )% Other interest-earning assets 73,246 3.80 % 15,406 4.82 % 57,840 (1.02 )% Other interest-earning assets 111,697 3.77 % 59,111 4.53 % 52,586 (0.76 )% Total interest-earning assets 2,093,375 6.04 % 2,146,981 6.20 % (53,606 ) (0.16 )% Total non-earning assets 165,963 168,359 Total assets $ 2,259,338 $ 2,315,340 Interest-bearing liabilities Checking $ 326,550 2.03 % $ 319,777 1.97 % $ 6,773 0.06 % Savings 167,257 2.10 % 171,022 2.27 % (3,765 ) (0.17 )% Money market 482,882 2.92 % 470,596 3.12 % 12,286 (0.20 )% Certificates of deposit 672,367 3.54 % 756,808 4.30 % (84,441 ) (0.76 )% Total interest-bearing deposits 1,649,056 2.91 % 1,718,203 3.34 % (69,147 ) (0.43 )% Non-interest checking 297,587 288,060 Total deposits 1,946,643 2.47 % 2,006,263 2.86 % (59,620 ) (0.39 )% Borrowings — N/A 639 4.19 % (639 ) N/A Total interest-bearing liabilities (excluding non interest deposits) 1,649,056 2.91 % 1,718,842 3.34 % (69,786 ) (0.43 )% Non-interest-bearing deposits 297,587 288,060 Total cost of funds 1,946,643 2.47 % 2,006,902 2.86 % (60,259 ) (0.39 )% Accrued expenses and other liabilities 38,688 43,979 Stockholders’ equity 274,007 264,459 Total liabilities and stockholders’ equity $ 2,259,338 $ 2,315,340 Net interest spread 3.13 % 2.86 % Net interest margin 3.75 % 3.53 % Net interest margin (FTE)1, 2 3.79 % 3.57 % 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 June 30, 2026 March 31, 2026 Change in Change in Average Balance Yield/ Rate Average Balance Yield/ Rate Average Balance Yield/ Rate Earning assets Loans $ 1,795,516 6.41 % $ 1,800,201 6.32 % $ (4,685 ) 0.09 % Securities Taxable available-for-sale 155,641 4.71 % 132,740 4.58 % 22,901 0.13 % Tax-exempt available-for-sale 38,806 2.72 % 40,054 2.73 % (1,248 ) (0.01 )% Held-to-maturity 150 5.33 % 152 5.33 % (2 ) — Total Securities 194,597 4.31 % 172,946 4.15 % 21,651 0.16 % Other interest earning assets Federal funds sold 8,817 3.66 % 68,415 3.72 % (59,598 ) (0.06 )% Other interest-earning assets 83,676 3.82 % 62,700 3.84 % 20,976 (0.02 )% Other interest-earning assets 92,493 3.80 % 131,115 3.78 % (38,622 ) 0.02 % Total interest-earning assets 2,082,606 6.10 % 2,104,262 5.99 % (21,656 ) 0.11 % Total non-earning assets 167,339 164,573 Total assets $ 2,249,945 $ 2,268,835 Interest-bearing liabilities Checking $ 323,266 2.04 % $ 329,872 2.03 % $ (6,606 ) 0.01 % Savings 165,712 2.07 % 168,820 2.13 % (3,108 ) (0.06 )% Money market 495,284 2.92 % 470,343 2.94 % 24,941 (0.02 )% Certificates of deposit 644,658 3.43 % 700,384 3.63 % (55,726 ) (0.20 )% Total interest-bearing deposits 1,628,920 2.86 % 1,669,419 2.97 % (40,499 ) (0.11 )% Non-interest checking 306,096 288,984 17,112 Total deposits 1,935,016 2.41 % 1,958,403 2.53 % (23,387 ) (0.12 )% Borrowings — N/A — N/A — N/A Total interest-bearing liabilities (excluding non-interest deposits) 1,628,920 2.86 % 1,669,419 2.97 % (40,499 ) (0.11 )% Non-interest-bearing deposits 306,096 288,984 17,112 — Total cost of funds 1,935,016 2.41 % 1,958,403 2.53 % (23,387 ) (0.12 )% Accrued expenses and other liabilities 39,252 38,114 Stockholders’ equity 275,677 272,318 Total liabilities and stockholders’ equity $ 2,249,945 $ 2,268,835 Net interest spread 3.24 % 3.02 % Net interest margin 3.86 % 3.63 % Net interest margin (FTE)1, 2 3.90 % 3.67 % 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 2026 2025 2025 2025 June March December September June Return on average assets 1.26 % 1.11 % 1.06 % 1.15 % 0.12 % Return on average equity 10.30 % 9.28 % 9.00 % 9.75 % 1.04 % Return on average tangible equity1 10.97 % 9.90 % 9.62 % 10.45 % 1.12 % Net interest margin 3.86 % 3.63 % 3.51 % 3.77 % 3.54 % Net interest margin (FTE)1 3.90 % 3.67 % 3.54 % 3.81 % 3.58 % Adjusted efficiency ratio1 59.89 % 62.03 % 60.38 % 63.68 % 63.10 % COMMON STOCK DATA Market value at period end $ 37.95 $ 33.77 $ 34.69 $ 31.84 $ 30.54 Market range: High $ 38.35 $ 37.84 $ 36.69 $ 34.84 $ 32.97 Low $ 34.04 $ 32.98 $ 29.75 $ 29.95 $ 27.69 Book value per common share at period end $ 41.09 $ 40.26 $ 40.01 $ 39.48 $ 38.49 Tangible book value per common share1 $ 38.62 $ 37.76 $ 37.48 $ 36.80 $ 35.91 Shares of common stock outstanding (in thousands) 6,813 6,796 6,766 6,773 6,806 CAPITAL RATIOS Total capital (to risk-weighted assets)2 14.67 % 13.98 % 14.01 % 13.78 % 13.05 % Tier 1 capital (to risk-weighted assets)2 13.60 % 12.93 % 12.95 % 12.73 % 12.01 % Tier 1 capital (to average assets)2 11.69 % 11.35 % 11.12 % 11.15 % 10.63 % Equity to assets 12.44 % 12.14 % 11.86 % 11.96 % 11.69 % Tangible equity to tangible assets1 11.78 % 11.47 % 11.19 % 11.27 % 10.99 % CREDIT QUALITY DATA (Dollars in thousands) Net charge-offs (recoveries) $ (244 ) $ 1 $ 235 $ (86 ) $ 9,859 Annualized net charge-offs (recoveries) to average loans (0.05 )% 0.00 % (0.00 )% (0.02 )% 2.14 % Nonperforming loans $ 16,320 $ 16,478 $ 16,529 $ 16,710 $ 16,530 Other real estate owned — — — — — Total nonperforming assets $ 16,320 $ 16,478 $ 16,529 $ 16,710 $ 16,530 Allowance for credit losses as a percent of: Period-end loans, net of deferred fees and costs 1.13 % 1.10 % 1.12 % 1.14 % 1.14 % Nonperforming loans 122.22 % 121.58 % 122.97 % 122.33 % 127.13 % Nonperforming assets 122.22 % 121.58 % 122.97 % 122.33 % 127.13 % Nonaccrual loans as a percent of total loans, net of deferred fees and costs 0.92 % 0.91 % 0.91 % 0.93 % 0.90 % 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 2026 2025 2025 2025 June March December September June Net income (annualized)1 $ 28,402 $ 25,262 $ 24,122 $ 25,653 $ 2,760 Average equity2 275,677 272,318 267,971 263,088 264,878 Less: average intangible assets3 (16,890 ) (17,084 ) (17,280 ) (17,493 ) (17,701 ) Average Tangible Equity $ 258,787 $ 255,234 $ 250,691 $ 245,595 $ 247,177 Return on average tangible equity 10.97 % 9.90 % 9.62 % 10.45 % 1.12 % Net interest income $ 20,040 $ 18,858 $ 18,630 $ 19,619 $ 18,810 Other income 2,436 2,451 2,119 1,908 2,251 Total revenue 22,476 21,309 20,749 21,527 21,061 Non-interest expenses $ 13,646 $ 13,415 $ 12,729 $ 13,917 $ 13,509 Less: core deposit intangible amortization (186 ) (196 ) (200 ) (209 ) (219 ) Total operating expenses $ 13,460 $ 13,219 $ 12,529 $ 13,708 $ 13,290 Adjusted efficiency ratio 59.89 % 62.03 % 60.38 % 63.68 % 63.10 % Total Assets $ 2,251,012 $ 2,253,767 $ 2,285,147 $ 2,229,090 $ 2,241,668 Less: intangible assets (16,775 ) (16,961 ) (17,157 ) (17,357 ) (17,566 ) Tangible assets $ 2,234,237 $ 2,236,806 $ 2,267,990 $ 2,211,733 $ 2,224,102 Stockholders’ equity $ 279,923 $ 273,599 $ 270,712 $ 266,607 $ 261,946 Less: intangible assets (16,775 ) (16,961 ) (17,157 ) (17,357 ) (17,566 ) Tangible equity $ 263,148 $ 256,638 $ 253,555 $ 249,250 $ 244,380 Tangible equity to tangible assets 11.78 % 11.47 % 11.18 % 11.27 % 10.99 % Tangible equity $ 263,125 $ 256,638 $ 253,555 $ 249,250 $ 244,380 Shares outstanding (in thousands) 6,813 6,796 6,766 6,773 6,806 Tangible book value per share $ 38.62 $ 37.76 $ 37.48 $ 36.80 $ 35.91 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 intangible assets balance for the period, divided by the number of days in the period. Three months ended 2026 2026 2025 2025 2025 June March December September June Net interest income $ 20,040 $ 18,858 $ 18,630 $ 19,619 $ 18,810 FTE adjustment1 203 207 209 211 212 Net interest income FTE $ 20,243 $ 19,065 $ 18,839 $ 19,830 $ 19,022 Net interest income FTE (annualized)2 $ 81,194 $ 77,318 $ 74,743 $ 78,675 $ 76,297 Average interest earning assets 2,082,606 2,104,262 2,108,657 2,063,990 2,129,246 Net interest margin FTE 3.90 % 3.67 % 3.54 % 3.81 % 3.58 % Six Months Ended 2026 2025 June June Net interest income $ 38,898 $ 37,567 FTE adjustment3 410 462 Net interest income FTE $ 39,308 $ 38,029 Net interest income FTE (annualized)1 $ 79,268 $ 76,688 Average interest earning assets 2,093,375 2,146,981 Net interest margin FTE 3.79 % 3.57 % 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 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%. Source: The Bank of Princeton