Bank of Princeton Reports Second Quarter 2025 Financial Results

Strategic Insights -

The Bank of Princeton, a NASDAQ-listed company, has released its unaudited financial results for the quarter and six months ended June 30, 2025. Despite a significant credit loss in the second quarter, the bank reported an improvement in net interest income and non-interest income, as well as a reduction in operating expenses. The company repurchased 173,000 shares of its common stock at an average price of $31.14 as part of its share repurchase program. The bank expects stronger earnings in the second half of 2025.

Key Takeaways:

  • The Bank of Princeton reported net income of $688,000, or $0.10 per diluted common share, for the second quarter of 2025, compared to $5.4 million, or $0.77 per diluted common share, for the first quarter of 2025.
  • The decrease in net income for the second quarter of 2025 was primarily due to an increase in provision for credit losses of $6.7 million, partially offset by a decrease in non-interest expense of $283,000 and an increase in net-interest income of $53,000.
  • Total assets were $2.24 billion at June 30, 2025, a decrease of $98.6 million, or 4.21%, when compared to $2.34 billion at the end of 2024.
  • The primary reasons for the decrease in total assets were related to decreases in cash and cash equivalents of $96.3 million and investment securities of $22.4 million, partially offset by an increase in net loans of $20.4 million.
  • Total deposits on June 30, 2025, decreased $100.3 million, or 4.93%, when compared to December 31, 2024.
  • The ratio of equity to total assets at June 30, 2025, and at December 31, 2024, was 11.7% and 11.2%, respectively.

Statistics:

  • $688,000: Net income for the second quarter of 2025
  • $0.10: Diluted earnings per common share for the second quarter of 2025
  • $6.7 million: Increase in provision for credit losses for the second quarter of 2025
  • $293,000: Decrease in non-interest expense for the second quarter of 2025
  • $53,000: Increase in net-interest income for the second quarter of 2025
  • $2.24 billion: Total assets at June 30, 2025
  • $2.34 billion: Total assets at December 31, 2024
  • $98.6 million: Decrease in total assets from December 31, 2024 to June 30, 2025
  • $96.3 million: Decrease in cash and cash equivalents from December 31, 2024 to June 30, 2025
  • $22.4 million: Decrease in investment securities from December 31, 2024 to June 30, 2025
  • $20.4 million: Increase in net loans from December 31, 2024 to June 30, 2025
  • $100.3 million: Decrease in total deposits from December 31, 2024 to June 30, 2025
  • 11.7%: Ratio of equity to total assets at June 30, 2025
  • 11.2%: Ratio of equity to total assets at December 31, 2024

Sources:

  • The Bank of Princeton news release, dated June 30, 2025.