Bank of Princeton reports Q4 EPS 82c bd. $1.13 last year

Reports Q4 provision for credit losses of $562K vs. $182K in Q3 and $200K last year. Reports Q4 net charge-offs (10K) vs.$406K last year. Tangible book value per common share at period end was $36.41 from $35.21 at previous quarter end. CEO Edward Dietzler commented on the results, “I am extremely proud of the Bank’s continued strong financial performance given the industry’s strong headwinds. Despite the significant impact from the interest rate environment and other industry pressures, the Bank increased loan and deposit balances while maintaining strong liquidity and good credit quality. In 2024, the addition of Cornerstone Bank is an in-market acquisition that adds to the Bank’s central and south Jersey footprint. The Bank will continue to build on our existing valuable franchise reaching from New York to Philadelphia.”