普林斯顿银行 2024年度报告

FORM10-K (Mark One)ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒For the Fiscal Year EndedDecember 31,2024 - OR - TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 PRINCETON BANCORP, INC. (Exact name of Registrant as specified in its Charter) Registrant’s telephone number, including area code: (609)921-1700 Securities registered pursuant to Section12(b) of the Act: Title of each classTradingSymbol(s)Name of each exchangeon which registeredCommon stock, no par valueBPRNThe Nasdaq Global Select Market Securities registered pursuant to Section12(g) of the Act: None(Title of class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.☐YES☒NO Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Act.☐YES☒NO Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90 days.☒YES☐NO Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulationS-Tduring the preceding 12 months (or such shorter period that the registrant was required to submit such files).☒YES☐NO Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer,anon-acceleratedfiler, a smaller reporting company, oremerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule12b-2of the Exchange Act. Largeacceleratedfiler☐Non-acceleratedfiler☐ Accelerated filer☒Smallerreportingcompany☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section13(a) the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internalcontrol over financial reporting under Section404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm thatprepared or issued its audit report.☒ If securities are registered pursuant to Section12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in thefiling reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2of the Act).☐YES☒NO The aggregate market value of the voting common stock held bynon-affiliatesat June30, 2024 was $159.0million. As of March12, 2025, there were6,915,086shares of common stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE The registrant intends to file a definitive Proxy Statement for the Annual Meeting of Shareholders scheduled to be held April22, 2025. The informationrequired by Part III of this Form10-Kis incorporated by reference to such Proxy Statement. TABLE OF CONTENTS PART IItem 1Business5Item 1ARisk Factors24Item 1BUnresolved Staff Comments39Item 1CCybersecurity39Item 2Properties40Item 3Legal Proceedings42Item 4Mine Safety42PART IIItem 5Market for the Registrant’s Common Equity, Related Stockholder Matters Issuer Purchase of Equity Securities43Item 7Management’s Discussion and Analysis of Financial Condition and Results of Operation46Item 7AQuantitative and Qualitative Disclosure and Market Data58Item 8Financial Statements and Supplementary Data58Item 9Changes in and Disagreement with Accountants on Accounting and Financial Disclosure109Item 9AControls and Procedures109Item 9BOther Information109Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections109PART IIIItem 10Directors, Executive Officers and Corporate Governance110Item 11Executive Compensation110Item 12Security Ownership of Certain Beneficial Owners and Management Related Stockholder Matters110Item 13Certain Relationships and Related Transaction, and Directors Independence110Item 14Principal Accounting Fees and Services110PART IVItem 15Exhibits: Financial Statement Schedules111Item 16Form10-KSummary113Signatures3 PRINCETON BANCORP, INC. PART I In this report, unless the context indicates otherwise, references to “we,” “us,” and “our” refer to the Company and th