Reviewed by Donna | November 1, 2022 |
This local community bank “by far” exceeded my expectations of what a banking institution should be. They take the time to understand their customers needs, educatedly answer questions, and take the time to follow up when needed. With an unsettling employee turnover and many larger branch closings, those tasks can easily fall short of the mark. Consider this...community bank management and board members ARE part of the community, not just sitting in lofty towers somewhere.
2024 Overview
General Bank Information
The Bank of Princeton is an FDIC insured institution located in Princeton, NJ. It was founded in 2007 and has approximately $1.98 billion in assets. Customers can open an account at one of its 13 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 58513 |
| Date Established | 2007 |
| Assets | $ 1,978.04 million |
| Loans | $ 1,554.89 million |
| Deposits | $ 1,699.65 million |
| Capital | $ 244.26 million |
For a more detailed analysis of The Bank of Princeton's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - December 23, 2024
Your Current Location: Ohio, OH 43085
Loan Rates - December 23, 2024
Your Current Location: Ohio, OH 43085
| Home Equity Rates | APR | Rate | Monthly Payment | |
|---|---|---|---|---|
| Line of Credit See Table |
8.50% | 7.75% | Varies | |
Compare with 6.99 RATE Line of Credit from Third Federal Savings and Loan
See All Home Equity Rates |
||||
| 5 Year Loan
See Table |
6.68% | 5.80% | $1,924.09 | |
| 10 Year Loan
See Table |
7.03% | 6.03% | $1,111.61 | |
| 15 Year Loan
See Table |
7.15% | 6.15% | $851.71 | |
| 20 Year Loan
See Table |
7.39% | 6.52% | $746.52 | |
Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.
Branches
The Bank of Princeton branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
The Bank of Princeton Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 410.69 | A | View Lobby Hours | |
| 415.69 | B | View Lobby Hours | |
| 417.32 | C | View Lobby Hours | |
| 427.71 | D | View Lobby Hours | |
| 435.32 | E | View Lobby Hours | |
| 440.97 | F | View Lobby Hours | |
| 442.28 | G | View Lobby Hours | |
| 442.62 | H | View Lobby Hours | |
| 443.04 | I | View Lobby Hours | |
| 443.48 | J | View Lobby Hours | |
| 452.82 | K | View Lobby Hours | |
| 454.87 | L | View Lobby Hours |
Climate Policy and Initiatives
The Bank of Princeton is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
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Financial Details
The Bank of Princeton Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of The Bank of Princeton. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| The Bank of Princeton | U.S. Bank Average |
|---|---|
| 2.01% | 4.48% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of June 30, 2024, The Bank of Princeton had $5,281,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $244,259,000 in equity and $18,464,000 in loans loss reserves. That gives it a Texas Ratio of 2.01%.
Return on Equity
| The Bank of Princeton | U.S. Bank Average |
|---|---|
| 8.23% | 10.46% |
The Bank of Princeton has a Return on Equity of 8.23% versus the BestCashCow average of 10.46%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| The Bank of Princeton | U.S. Bank Average |
|---|---|
| 12.35% | 10.84% |
The Bank of Princeton has a Capitalization of 12.35% versus the BestCashCow average of 10.84. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
The Bank of Princeton Balance Sheet Analysis
As of June 30, 2024, The Bank of Princeton had assets of $1,978,040,000, loans of $1,554,888,000, and deposits of $1,699,653,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
June 30, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 33.52 million |
| Interest-bearing balances | $ 18.58 million |
| Total securities | $ 131.85 million |
| Federal funds sold and reverse repurchase | $ 117.78 million |
| Net loans and leases | $ 1,554.89 million |
| Loan loss allowance | $ 18.46 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | $ 11.26 million |
| All other assets | $ 87.04 million |
| Total Assets | $ 1,733.78 million |
| LIABILITIES | |
|---|---|
| Total deposits | $ 1,699.65 million |
| Interest-bearing deposits | $ 1,454.58 million |
| Deposits held in domestic offices | $ 1,699.65 million |
| % insured (estimated) | 70.48% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | N.A. |
| Subordinated debt | N.A. |
| All other liabilities | $ 22.74 million |
| Total Liabilities | $ 1,733.78 million |
| Shareholders’ Equity | $ 244.26 million |
Summary Income Statement
June 30, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 57.48 million |
| Total Interest Expense | $ 26.06 million |
| Net interest income | $ 31.42 million |
| Provision for loan and lease losses | $ 0.07 million |
| Total non interest income | $ 4.04 million |
| Total non interest expense | $ 23.34 million |
| Pre-tax Net Operating Income | $ 15.60 million |
Bank Loan Profile?
The top three loan types in The Bank of Princeton’s loan portfolio are Commercial Real Estate, Construction and Development Loans, and Multifamily Mortgages.
Compared to other banks in New Jersey, The Bank of Princeton has a significantly higher percent of Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 6.51 | ✓ | ||
| Multifamily Mortgages |
17.04 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.00 | ✓ | ||
| Small Business Loans | 5.05 | ✓ | ||
| Construction and Development Loans | 27.01 | ✓ | ||
| Commercial Real Estate | 36.48 | ✓ | ||
| Commercial and Industrial Loans | 2.93 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
Customer Reviews for The Bank of Princeton
Donna
November 1, 2022 |
This local community bank “by far” exceeded my expectations of what a banking institution should be. They take the time to understand their customers needs, educatedly answer questions, and take the time to follow up when needed. With an unsettling employee turnover and many larger branch closings, those tasks can easily fall short of the mark. Consider this...community bank management and board members ARE part of the community, not just sitting in lofty towers somewhere.
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