PRINCETON, N.J., Oct. 19,
2022 /PRNewswire/ --The Bank of Princeton (the "Bank") (NASDAQ: BPRN)
announced that its Board of Directors, at a meeting held on
October 19, 2022, declared a cash
dividend of $0.25 per share of the
common stock of the Bank. This dividend will be paid on
November 25, 2022 to shareholders of
record at the close of business on November
4, 2022. "This dividend reflects the Board of
Director's commitment in providing a return to shareholders,"
stated Edward Dietzler, President
and CEO.
The paying of cash dividends on a quarterly basis is subject to
a determination and declaration each quarter by its Board of
Directors, which will take into account a number of factors,
including the financial condition of the Bank, and any applicable
legal and regulatory restrictions on the payment of dividends by
the Bank. If paid, such dividends may be reduced or
eliminated in future periods.
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 nineteen branches in New
Jersey, including three in Princeton and others in Bordentown, Browns
Mills, Chesterfield,
Cream Ridge, Deptford, Hamilton, Lakewood, Lambertville, Lawrenceville, Monroe Township, New
Brunswick, Pennington,
Piscataway, Princeton Junction, 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").
Forward-Looking Statements
The Bank of Princeton may from
time to time make written or oral "forward-looking statements,"
including statements contained in the Bank's filings with the FDIC,
in its reports to stockholders and in other communications by the
Bank (including this press release), which are made in good faith
by the Bank pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 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 Bank's plans, objectives,
expectations, estimates and intentions that are subject to change
based on various important factors (some of which are beyond the
Bank's control). The following factors, among others, could cause
the Bank's financial performance to differ materially from the
plans, objectives, expectations, estimates and intentions expressed
in such forward-looking statements: the impact of the recent global
coronavirus outbreak, 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 Bank; technological changes; acquisitions;
changes in consumer spending and saving habits; those risks set
forth in 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 Bank at managing the risks
involved in the foregoing.
Contact George
Rapp
609.454.0718
grapp@thebankofprinceton.com
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SOURCE The Bank of Princeton