# EDGAR Filing Document

**Accession Number:** 0001913971
**File Stem:** 0001193125-23-005720
**Filing Date:** 2023-1
**Character Count:** 30308
**Document Hash:** 1dcc42c922484405aebab663e2a0da1a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-005720.hdr.sgml**: 20230110

**ACCESSION NUMBER**: 0001193125-23-005720

**CONFORMED SUBMISSION TYPE**: 8-K12B

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20230110

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230110

**DATE AS OF CHANGE**: 20230110

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Princeton Bancorp, Inc.
- **CENTRAL INDEX KEY:** 0001913971
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** PA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K12B
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41589
- **FILM NUMBER:** 23521999

**BUSINESS ADDRESS:**
- **STREET 1:** C/O STEVENS & LEE, P.C.
- **STREET 2:** 111 NORTH SIXTH STREET
- **CITY:** READING
- **STATE:** PA
- **ZIP:** 19603
- **BUSINESS PHONE:** (609) 921-1700

**MAIL ADDRESS:**
- **STREET 1:** 183 BAYARD LANE
- **CITY:** PRINCETON
- **STATE:** NJ
- **ZIP:** 08540

------

------

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

------

**FORM 8-K** 

------

**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d)** 

**of the Securities Exchange Act of 1934** 

**January 10, 2023** 

**Date of Report (Date of earliest event reported)** 

------

## PRINCETON BANCORP, INC.
**(Exact name of registrant as specified in its charter)** 

------

---

| | | |
|:---|:---|:---|
| **Pennsylvania** | **333-263313<sup>\*</sup>** | **88-4268702** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Ident. No.)** |
| **183 Bayard Lane, Princeton, New Jersey** | **183 Bayard Lane, Princeton, New Jersey** | **08540** |
| **(Address of principal executive offices)** | **(Address of principal executive offices)** | **(Zip Code)** |

---

**(609) 921-1700** 

**Registrant's telephone number, including area code** 

**N/A** 

**(Former name or former address, if changed since last report.)** 

------

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

Securities registered or to be registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| Common stock, no par value | BPRN | The Nasdaq Global Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

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 any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

\* This Current Report on Form 8-K is filed by Princeton Bancorp, Inc., a Pennsylvania corporation (the "Company"), as successor issuer to The Bank of Princeton, a New Jersey state-chartered bank (the "Bank"). The Bank's common stock previously was registered under Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and, pursuant to Section 12(i) of the Exchange Act, the Bank filed periodic reports with the Federal Deposit Insurance Corporation (the "FDIC"). The Company's common stock is deemed to be registered under Section 12(b) of the Exchange Act by operation of Rule 12g-3(a) under the Exchange Act. 

------

**Item 7.01 Regulation FD Disclosure.** 

On January 10, 2023, the Company issued a press release to announce the effectiveness of the Reorganization, as defined below. The information in this Item 7.01, including Exhibit 99.4, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act.

**Item 8.01 Other Events.** 

*Consummation of the Reorganization* 

The Company was incorporated on February 22, 2022, by and at the direction of the Board of Directors of the Bank, for the sole purpose of acquiring the Bank and serving as the Bank's bank holding company. On February 23, 2022, the Bank entered into an Agreement and Plan of Reorganization and Merger (the "Plan"), pursuant to which the Bank will become a wholly owned subsidiary of the Company and each outstanding share of Common Stock, par value $5.00 per share, of the Bank, which we refer to as Bank Common Stock, will be exchanged for one share of Common Stock, no par value per share, of the Company, which we refer to as the Company Common Stock (the "Reorganization"). The Bank's stockholders approved the Reorganization at the Bank's annual meeting of stockholders held on April 29, 2022.

Effective at 5:15 p.m. on January 10, 2023 (the "Effective Date"), under the terms of the Plan and pursuant to Section 17:9-A-139 of the New Jersey Department of Banking and Insurance Act of 1948, each outstanding share of Bank Common Stock formerly held by its stockholders was converted into and exchanged for one newly issued share of Company Common Stock, and the Bank became the Company's wholly owned subsidiary. The issuance of Company Common Stock pursuant to the Reorganization was registered under the Securities Act of 1933, as amended, pursuant to the Company's registration statement on Form S-4EF (File No. 333-263313) filed with the U.S. Securities and Exchange Commission on March 4, 2022, as amended on March 18, 2022, which became automatically effective on March 24, 2022.

At the Effective Date, each then-current outstanding option to purchase shares of Bank Common Stock ("Stock Options") was converted into an option to purchase the same number of shares of Company Common Stock on the same terms and conditions as were in effect with respect to those outstanding Stock Options under the written agreements pertaining thereto. Additionally, at the Effective Date, the Company (i) assumed all the outstanding awards granted under the Bank of Princeton Amended & Restated 2007 Stock Option Plan, (ii) assumed all of the outstanding awards granted under the Bank of Princeton Amended and Restated 2012 Equity Incentive Plan, (iii) assumed all of the outstanding awards granted under the MoreBank 2004 Incentive Equity Compensation Plan, and (iv) assumed all of the outstanding awards granted under the Bank of Princeton Amended and Restated 2018 Equity Incentive Plan (collectively, the "Equity Plans") and the Equity Plans shall be adopted and continued by the Company and amended and restated to become the Princeton Bancorp Equity Plans on the Effective Date. On the Effective Date, the Company shall assume each unexercised option under the Equity Plans and each such unexercised option under the Equity Plans and each such unexercised option shall become an option to purchase the same number of shares (adjusting thereafter where appropriate pursuant to the anti-dilution provisions of the applicable Equity Plan, if any) of the Company Common Stock in lieu of shares of Bank Common Stock on the same terms and conditions set forth in the applicable Equity Plan and in each relevant agreement evidencing such unexercised option (including but not limited to the same option exercise price). Further, at the Effective Date, the Company assumed all of the outstanding awards granted under the Bank of Princeton 2018 Director Fee Plan (the "Director Plan"), which shall be continued and become the Director Plan of the Company under the name of the Company. On the Effective Date, the Company shall amend and restate the Director Plan to reflect the foregoing. Finally, at the Effective Date, the Company assumed all of the outstanding awards granted under the Bank of Princeton Employee Stock Ownership Plan (the "Other Benefit Plans"). As of the Effective Date, all employee benefit plans of the Bank shall be and will remain employee benefit plans of the Company.

On the Effective Date, the Company will assume all of the Bank's obligations with respect to the Bank's Dividend Reinvestment and Stock Purchase Plan (the "DRIP") and the DRIP shall be continued and become the Dividend Reinvestment and Stock Purchase Plan of the Company under the name of the Company.

Prior to the Effective Date, the Company had no material assets and had not conducted any business or operations except for activities related to the Company's organization and the Reorganization. The Company's directors are the same as those of the Bank. Following the Reorganization, each stockholder of the Bank received exactly the same number of shares of Company Common Stock as the number of shares of Bank Common Stock they owned.

The Company is a Pennsylvania corporation subject to the Pennsylvania Business Corporation Law of 1988 (the "Pennsylvania Business Corporation Law"), as amended. Additionally, the Company is registered with the Federal Reserve under the Bank Holding Company Act of 1956. As such, the Company is subject to supervision and examination by, and the regulations and reporting requirements of, the Board of Governors of the Federal Reserve System. The Bank is a New Jersey state-chartered bank

------

headquartered in Princeton, New Jersey. The Bank is a full service community bank, and offers an array of deposit products, loan services, and other services to its customers, filing both retail and commercial needs. The Company structure will assist with the formation or acquisition of other financial institutions and providers of other financial services. However, the Bank has no specific plans to offer any of these financial services or to make any acquisitions, and no assurance can be given that any such financial services will be offered or acquisitions completed in the near future.

The mailing address and principal executive office of each of the Bank and the Company is 183 Bayard Lane, Princeton, New Jersey 08540 and the telephone number for each is (609) 921-1700.

*Successor Issuer* 

Prior to the consummation of the Reorganization, the Bank Common Stock was traded on the Nasdaq Global Select Market ("Nasdaq") under the ticker symbol "BPRN." Effective January 11, 2023, the Company Common Stock will begin trading on Nasdaq under the same ticker symbol.

Prior to the Effective Date, the Bank Common Stock was registered under Section 12(b) of Exchange Act. The Bank was subject to the information requirements of the Exchange Act and, in accordance with Section 12(i) thereof, it filed annual and quarterly reports, proxy statements and other information with the FDIC. Upon consummation of the Reorganization, the Company Common Stock was deemed to be registered under Section 12(b) of the Exchange Act, pursuant to Rule 12g-3(a) promulgated thereunder. This Current Report on Form 8-K, among other things, serves as notice that the Company is the successor to the Bank under Rule 12g-3(a) and is subject to the information requirements of the Exchange Act and will file reports, proxy statements and other information with the U.S. Securities and Exchange Commission.

*Description of the Company Common Stock* 

A description of the Company Common Stock has been filed with this Current Report on Form 8-K as Exhibit 4.1 and is incorporated by reference into this Item 8.01. The description contained in Exhibit 4.1 is only a summary of the material terms of the Company's Articles of Incorporation and Bylaws, which have been filed with this report as Exhibits 3.1 and 3.2, respectively, and applicable law.

**Forward-Looking Statements** 

The Company may from time to time make written or oral "forward-looking statements," including statements contained in the Company's filings with the SEC, in its reports to stockholders and in other communications by the Company (including this 8-K), which are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1955 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 and the Bank's financial and other performance to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: the extent of the adverse impact of the current global coronavirus outbreak on our customers, prospects and business, as well as the impact of any future pandemics or other natural disasters; civil unrest, rioting, acts or threats of terrorism, or actions taken by the local, state and Federal governments in response to such events, which could impact business and economic conditions in our market area, the strength of the United States economy in general and the strength of the local economies in which the Bank conducts 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's Registration Statement No. 333-263313 on Form S-4EF and the Bank's Annual Report on Form 10-K for the year ended December 31, 2021 under the heading "Risk Factors," and the success of the Company and the Bank at managing the risks involved in the foregoing.

The Company cautions that the foregoing list of important factors is not exclusive. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company or the Bank, except as required by applicable law or regulation.

------

**Item 9.01 Financial Statements and Exhibits.** 

(d) **Exhibits.** See Exhibit Index below.

EXHIBIT INDEX

---

| | |
|:---|:---|
| Exhibit No. | Description |
| 2.1 | [Agreement and Plan of Reorganization and Merger dated February 23, 2022, adopted and approved by Princeton Bancorp, Inc., The Bank of Princeton and Interim Bank of Princeton (included as Annex A to the Proxy Statement/Prospectus contained in the Company's Registration Statement on Form S-4EF filed on March 4, 2022, as amended, and incorporated herein by reference).](http://www.sec.gov/Archives/edgar/data/1913971/000119312522066198/d298493ds4ef.htm#tx298493_18) |
| 3.1 | [Articles of Incorporation of Princeton Bancorp, Inc. (included as Annex B to the Proxy Statement/Prospectus contained in the Company's Registration Statement on Form S-4EF filed on March 4, 2022, as amended, and incorporated herein by reference).](http://www.sec.gov/Archives/edgar/data/1913971/000119312522066198/d298493ds4ef.htm#tx298493_19) |
| 3.2 | [Bylaws of Princeton Bancorp, Inc. (included as Annex C to the Proxy Statement/Prospectus contained in the Company's Registration Statement on Form S-4EF filed on March 4, 2022, as amended, and incorporated herein by reference).](http://www.sec.gov/Archives/edgar/data/1913971/000119312522066198/d298493ds4ef.htm#tx298493_20) |
| 4.1 | [Description of Princeton Bancorp, Inc.'s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934.\*](d433778dex41.htm) |
| 99.1 | [Current Report on Form 8-K filed on April 15, 2022](http://www.sec.gov/Archives/edgar/data/1913971/000119312522106119/d340030d8k.htm) |
| 99.2 | [Current Report on Form 8-K filed on May 4, 2022](http://www.sec.gov/Archives/edgar/data/1913971/000119312522140600/d347342d8k.htm) |
| 99.3 | [Current Report on Form 8-K filed on September 2, 2022](http://www.sec.gov/Archives/edgar/data/1913971/000119312522237952/d366178d8k.htm) |
| 99.4 | [Press Release, dated January 10, 2023.\*](d433778dex994.htm) |

---

------

\* Filed herewith.

------

<u>SIGNATURES</u> 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | PRINCETON BANCORP, INC. | PRINCETON BANCORP, INC. |
| Dated: January 10, 2023 |  |  |
|  | By: | /s/ George S. Rapp |
|  |  | George S. Rapp |
|  |  | Executive Vice President and |
|  |  | Chief Financial Officer |

---

## Exhibit 4.1

**Exhibit 4.1** 

**DESCRIPTION OF THE PRINCETON BANCORP, INC.'S SECURITIES REGISTERED** 

**PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934** 

*References to "we," "us," "our" and "Holding Company" herein refer to Princeton Bancorp, Inc., a Pennsylvania corporation.* 

*The following description includes summaries of the material terms of the Holding Company capital stock. Because it is a summary, it may not contain all the information that is important to you. For a complete description, reference is made to the more detailed provisions of, and the descriptions are qualified in their entirety by reference to, the Holding Company articles of incorporation ("Articles of Incorporation"), and the Holding Company bylaws ("Bylaws"), each of which is incorporated herein by reference and is filed as an exhibit to our Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission of which this Exhibit 4.1 is a part. We encourage you to read our Articles of Incorporation and our Bylaws and the applicable provisions of the Business Corporation Law of the Commonwealth of Pennsylvania (the "PBCL")* 

**General** 

The authorized capital of the Holding Company consists of 15,000,000 shares of common stock, with no par value. Except as described below, each share of the Holding Company common stock will have the same relative rights as, and will be identical in all respects with, each other share of the Holding Company common stock.

This summary of the material rights and features of Holding Company capital stock does not purport to be exhaustive and is qualified in its entirety by reference to our Articles of Incorporation and Bylaws, and to applicable Pennsylvania law.

**Common Stock** 

*Voting Rights.* The holders of the common stock will possess exclusive voting rights in the Holding Company. Each holder of shares of common stock will be entitled to one vote for each share held on matters upon which stockholders have the right to vote. Shareholders will not be entitled to cumulate their votes for the election of directors.

*Dividends.* Under the Pennsylvania Business Corporation Law, the Holding Company may only pay dividends if solvent and if payment of such dividend would not render the Holding Company insolvent. Funds for dividend distribution must initially come from dividends paid to the Holding Company by the Bank, so that the restrictions on the Bank's ability to pay dividends are indirectly applicable to the Holding Company. The Bank's ability to pay dividends is restricted by certain federal and state banking regulations.

The Holding Company presently intends to continue the Bank's policy of paying dividends if, as and when declared by the Holding Company board of directors. The Bank paid dividends quarterly during the year ended December 31, 2022. Its most recent quarterly cash dividend was declared on October 19, 2022 in the amount of $0.25 per share payable on November 25, 2022 to shareholders of record at the close of business on November 4, 2022.

*Preemptive Rights; Redemption.* Holders of the Holding Company common stock will not be entitled to preemptive rights with respect to any shares of the Holding Company that may be issued. The common stock will not be subject to redemption. Upon receipt by the Holding Company of the full specified purchase price therefor, the common stock will be fully paid and nonassessable.

*Liquidation.* In the event of any liquidation, dissolution, or winding up of the Holding Company, after payment of all debts and liabilities of the Holding Company, the holders of the Holding Company common stock would be entitled to receive all assets of the Holding Company available for distribution in cash or in kind.

------

*Transfer.* The shares of the Holding Company common will be freely transferable, except for shares held by affiliates of the Holding Company.

**Transfer Agent and Registrar** 

The transfer agent and registrar for the Holding Company common stock is Computershare Limited.

**Listing and Trading** 

The Holding Company common stock is listed on The Nasdaq Global Select Market under the symbol "BPRN".

**Indemnification of Directors and Officers.** 

Section 1741 of the Pennsylvania Business Corporation Law, or the PBCL, provides, in general, that a corporation will have the power to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation), by reason of the fact that the person is or was a representative of the corporation, or is or was serving at the request of the corporation as a representative of another enterprise. Such indemnity may be against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with the action or proceeding, if the person acted in good faith and in a manner the person reasonably believed to be in, or not opposed to, the best interests of the corporation and if, with respect to any criminal proceeding, the person did not have reasonable cause to believe his conduct was unlawful.

Section 1742 of the PBCL provides, in general, that a corporation will have the power to indemnify any person who was or is a party, or is threatened to be made a party, to any threatened, pending or completed action by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the person is or was a representative of the corporation or is or was serving at the request of the corporation as a representative of another entity. Such indemnity may be against expenses (including attorneys' fees) actually and reasonably incurred by the person in connection with the defense or settlement of the action if the person acted in good faith and in a manner the person reasonably believed to be in, or not opposed to, the best interests of the corporation, except no indemnification will be made in respect of any claim, issue, or matter as to which the person has been adjudged to be liable to the corporation unless and only to the extent that the court of common pleas of the judicial district embracing the county in which the registered office of the corporation is located or the court in which the action was brought will determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for the expenses that the court of common pleas or other court deems proper.

Under Section 1743 of the PBCL, the corporation is required to indemnify directors and officers against expenses they may incur in defending actions against them in such capacities if they are successful on the merits or otherwise in the defense of such actions. Under Section 1745 of the PBCL, a corporation may pay the expenses of a director or officer incurred in defending an action or proceeding in advance of the final disposition thereof upon receipt of an undertaking from such person to repay the amounts advanced unless it is ultimately determined that such person is entitled to indemnification from the corporation.

Article VI of the By-Laws of Princeton Bancorp, Inc. provide for (1) indemnification of directors, officers, employees and agents of Bancorp and its subsidiaries and (2) the elimination of a director's liability for monetary damages, in each case to the fullest extent permitted by Pennsylvania law.

The directors and officers Laws of Princeton Bancorp, Inc. will be insured against certain liabilities for their actions, as such, by an insurance policy obtained by Princeton Bancorp, Inc.

------

The foregoing is only a general summary of certain aspects of Pennsylvania law and Princeton Bancorp, Inc.'s bylaws dealing with indemnification of directors and officers, and does not purport to be complete. The description of the bylaws is qualified in its entirety by reference to the detailed provisions of Article VI of the bylaws of Princeton Bancorp, Inc.

## Exhibit 99.4

<u>Exhibit 99.4</u> 

**PRINCETON BANCORP, INC.** 

**THE BANK OF PRINCETON** 

**FOR IMMEDIATE RELEASE** 

**PRINCETON BANCORP, INC. BECOMES THE BANK HOLDING COMPANY** 

**OF THE BANK OF PRINCETON** 

**PRINCETON, NJ, January 10, 2023 – Princeton Bancorp, Inc. (the "Company") (NASDAQ – BPRN) and The Bank of Princeton (the "Bank")** jointly announced today the consummation of a holding company reorganization, effective at the close of business on January 10, 2023, pursuant to which the Company became the parent bank holding company of the Bank. In the reorganization, each share of the Bank's common stock converted into one share of the Company's common stock. Following the consummation of the reorganization, shares of the Company's common stock will trade on The Nasdaq Global Select Market under the same ticker symbol, BPRN, that was used for shares of the Bank's common stock before the reorganization.

Upon consummation of the reorganization, the Company, a Pennsylvania corporation, will own 100% of the common stock of the Bank, and this structure will provide the Bank with increased flexibility to pursue strategic opportunities to drive long-term growth. As a bank holding company, the Company will also gain access to additional means of raising capital and more flexibility to engage in non-banking financial activities. This will provide an opportunity to expand the Bank's offerings to its customers.

**About The Bank of Princeton** 

The Bank of Princeton is a community bank founded in 2007. The Bank is a New Jersey state-chartered commercial bank with 19 branches in New Jersey, including three in Princeton and others in Bordentown, Browns Mills, Chesterfield, Cream Ridge, Deptford, Hamilton, Lakewood, Lambertville, Lawrenceville, Monroe, New Brunswick, Pennington, Piscataway, Princeton Junction, Quakerbridge and Sicklerville. There are also four branches in the Philadelphia, Pennsylvania area. The Bank of Princeton is a member of the Federal Deposit Insurance Corporation ("FDIC").

**Cautionary Note Regarding Forward-Looking Statements** 

This communication contains forward-looking statements within the Private Securities Litigation Reform Act of 1995. Forward looking statements can be identified by words and phrases such as "going forward," "looking forward," "anticipate," "expect," "intend," "believe," "may," "likely," "will" or other statements that indicate future periods. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements: any unforeseen circumstances involving the Company replacing the Bank as the listed company on The Nasdaq Global Select Market and our ability to carry out our business strategy prudently, effectively and profitably. Additional factors that may cause actual results to differ materially from those contemplated by any forward-looking statements also may be found in the documents filed by the Company with the SEC or filed by the Bank, with respect to which the Company is the successor issuer, with the FDIC, pursuant to the Exchange Act, including the Bank's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the FDIC and available at the FDIC's website at https://efr.fdic.gov/fcxweb/efr/index.html. The inclusion of this forward-looking information should not be construed as a representation by the Company, the Bank or any person that future events, plans, or expectations contemplated by the Company or the Bank will be achieved. The Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

------

The Bank of Princeton

October 19, 2022

------

For The Bank of Princeton and Princeton Bancorp, Inc.:

Edward J. Dietzler, President and CEO

Phone: (609) 454-0717

![LOGO](g433778page10a.jpg)