The Bank of Princeton plans to form bank holding company

• The Bank of Princeton (NASDAQ:BPRN) announced its intent to form a bank holding company.
• If approved, BPRN would become a subsidiary of Princeton Bancorp, the newly-formed bank holding company.
• Current BPRN stockholders would become shareholders of the newly-formed holding company and current stockholders will have the same rights and ownership percentage in the holding company as they currently have in BPRN.
• The holding company formation will not impact BPRN's operations. BPRN's headquarters will remain in and the holding company's headquarters will be located in Princeton, New Jersey.
• The reorganization is expected to be completed at the end of Q2 or the beginning of Q3 of 2022.
• "The formation of the holding company will provide more efficient access to capital if the need arises and will create flexibility in the overall corporate structure of our organization," said CEO Edward Dietzler.