Princeton Bancorp Reports Q3 Net Income of $6.5 Million
Reuters
Oct 30
Princeton Bancorp Reports Q3 Net Income of $6.5 Million
Princeton Bancorp Inc. reported net income of $6.5 million, or $0.95 per diluted common share, for the third quarter of 2025. This compares to net income of $688 thousand, or $0.10 per diluted common share, in the second quarter of 2025, and a net loss of $4.5 million, or $0.68 per diluted common share, in the third quarter of 2024. Net interest income for the third quarter of 2025 was $19.6 million, up $809 thousand from the prior quarter and $2.5 million from the same period in 2024. The net interest margin for the quarter was 3.8 percent, an increase of 23 basis points from the previous quarter and 36 basis points from the third quarter of 2024. The company attributed the improvements to higher asset yields and lower funding costs, as well as a decrease in provision for credit losses and lower merger-related expenses compared to the prior year. The period also reflected a decrease in total interest-bearing deposits and a reduction in the cost of funds. The comparison to the third quarter of 2024 was also affected by $7.8 million in merger-related expenses incurred in that period.
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