Princeton Bancorp Q3 EPS Falls to $0.15 on $8.0M Credit Provision
BPRN sits 48% above its 52-week low of $30.24.
Summary
Princeton Bancorp earned $1.0 million ($0.15 per diluted share) in Q3 2026, down from $7.1 million last quarter, after an $8.0 million credit provision driven by two commercial real estate charge-offs and a $900 thousand retail consolidation write-down, on net interest income of $20 million reported Oct 28. Management pegs core earnings at roughly $7.0 million and raised the quarterly dividend 14.3% to $0.40.
Updated with a Reuters report · What changed
Updates
· Reuters — Princeton Bancorp reported Q3 net interest income of $20 million on Oct 28.
Key Events · Earnings and Guidance · BPRN
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New · · Reuters
Q3 Net Interest Income of $20 Million Reported Oct 28
Princeton Bancorp reported Q3 net interest income of $20 million on Oct 28.
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Q3 Net Income Falls to $1.0 Million
Net income was $1.0 million, or $0.15 per diluted share, versus $7.1 million ($1.04) in Q2 2026 and $6.5 million ($0.95) in Q3 2025.
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$8.0 Million Credit Provision on Two CRE Loans
Provision for credit losses was $7.6 million for the quarter, $8.0 million above the Q2 reversal, driven by charge-offs of two previously identified commercial real estate loans; net charge-offs were $8,307 thousand, or 1.85% annualized of average loans.
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Core Earnings Pegged Near $7.0 Million
CEO Edward Dietzler said excluding the non-recurring charge-offs and a $900 thousand write-down tied to a future retail consolidation, core operations generated approximately $7.0 million plus in net income.
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Balance Sheet Growth Offsets Margin Compression
Net loans rose $80.0 million (18.1% annualized) and deposits $68.0 million (14.0% annualized) linked-quarter, while net interest margin slipped to 3.75% from 3.86%.
Analysis · BPRN · Finance
Net income collapsed to $1.0 million from $7.1 million last quarter after the bank charged off two previously identified commercial real estate loans and took a $900 thousand write-down on a future branch consolidation, on net interest income of $20 million reported Oct 28. Management argues core earnings were roughly $7.0 million excluding those items, and the balance sheet supports that: loans grew 18.1% annualized and deposits 14.0% annualized in the quarter. The real question is whether the two CRE charge-offs are isolated — nonperforming assets did fall to $8.2 million from $16.3 million, and the allowance still covers them 235.70% — or the start of broader CRE stress in a $1.28 billion commercial real estate book that shrank $67.7 million year-to-date. On the same day, the board raised the dividend 14.3% to $0.40, which reads as a statement that the credit hits are contained.
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In the 30 days to Oct 29, 2026, 31.1% of the 1661 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, BPRN was trading at $44.63 on NASDAQ in the Finance sector, with a market capitalization of approximately $304.1M. The 52-week trading range was $30.24 to $46.34. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.