PRINCETON, N.J., July 20,
2023 /PRNewswire/ -- Princeton Bancorp, Inc.
(the "Company") (NASDAQ – BPRN), the bank holding company for The
Bank of Princeton (the "Bank")
announced that its Board of Directors, at a meeting held on
July 20, 2023, declared a cash
dividend of $0.30 per share of the
common stock of the Company. This dividend will be paid on
August 31, 2023 to shareholders of
record at the close of business on August 9,
2023. "This dividend reflects the Board of Director's
continuing commitment in providing a return to shareholders,"
stated Edward Dietzler, President
and CEO.
The paying of cash dividends on a quarterly basis is subject to
a determination and declaration each quarter by its Board of
Directors, which will take into account a number of factors,
including the financial condition of the Company, and any
applicable legal and regulatory restrictions on the payment of
dividends by the Company and the Bank. If paid, such dividends may
be reduced or eliminated in future periods.
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 twenty-two
branches in New Jersey, including
three in Princeton and others in
Bordentown, Browns Mills, Chesterfield, Cream
Ridge, Deptford,
Fort Lee, Hamilton, Kingston, Lakewood, Lambertville, Lawrenceville, Monroe Township, New
Brunswick, Palisades Park,
Pennington, Piscataway, Princeton Junction, Quakerbridge and
Sicklerville. There are also five
branches in the Philadelphia,
Pennsylvania area and three in New
York. The Bank of Princeton
is a member of the Federal Deposit Insurance Corporation
("FDIC").
Forward-Looking Statements
Princeton Bancorp, Inc. 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 following factors, among others,
could cause the Company's financial performance to differ
materially from the plans, objectives, expectations, estimates and
intentions expressed in such forward-looking statements: the impact
of the recent global coronavirus outbreak, the strength of
the United States economy in
general and the strength of the local economies in which the
Company and the 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; inflation, interest rate, 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; technological changes;
acquisitions; difficulties and delays in integrating the businesses
of Noah Bank and The Bank of
Princeton or fully realizing cost
savings and other benefits; changes in consumer spending and saving
habits; those risks set forth in the Company's Annual Report on
Form 10-K for the year ended December 31,
2022 under the heading "Risk Factors," and the success of
the company and the bank at managing the risks involved in the
foregoing.
Contact George
Rapp
609.454.0718
grapp@thebankofprinceton.com
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SOURCE The Bank of Princeton