Bank of Princeton reports Q2 EPS 80c vs. $1.07 last year

Tangible book value per common share was $36.96 from $36.41 at previous quarter end. net interest margin for the second quarter of 2024 was 3.44%, increasing by 2 basis points when compared to the first quarter of 2024. CEO Edward Dietzler remarked on the second quarter results, “The Company continued its strong financial performance with a 18.0% increase in net income over the first quarter of 2024, along with a modest increase in the net interest margin to 3.44% for the second quarter. The Company continues to increase average loan and deposit balances while maintaining strong liquidity and credit quality. The anticipated addition of Cornerstone Bank in the third quarter will contribute to the Company’s central and southern New Jersey footprint by strengthening our existing valuable franchise spanning from New York to Philadelphia.”