Table of Contents | --- | --- | --- | --- | --- | |-----------------------------------------------------------|----------------------|-----------------------------------------------------------------|----------------------|---------------------------------------------------------| | (Dollars in thousands) \nCommercial real estate | Amount \n$ 8,554 | 2022 \nLoan Balance as % of Total Loans \n63.6% | Amount \n$ 7,458 | 2021 \nLoan Balance as % of Total Loans \n57.5% | | Commercial and industrial | 271 | 2.1% ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20429 Non-accelerated filer ☐ Smaller reporting company ☒ FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 333-263313 Pennsylvania 88-4268702 (State or other jurisdiction of incorpor ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20429 Non-accelerated filer ☐ Smaller reporting company ☒ FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 333-263313 PRINCETON BANCORP, INC. (Exact name of registrant as specified in its ...

[Explanatory Note](index=3&type=section&id=Explanatory%20Note) Princeton Bancorp, Inc. was formed as a holding company for The Bank of Princeton, has no operations, and refers to the Bank's FDIC filings - Princeton Bancorp, Inc. was formed to be the holding company for The Bank of Princeton, but the reorganization is not yet complete and is subject to regulatory approvals[6](index=6&type=chunk) - As of March 31, 2022, the Company had no assets or liabilities and had not conducted any business other than organizational activities[6](index=6&type=chunk) - For financial information, the report refers readers to The Bank of Princeton's Quarterly Report on Form 10-Q filed with the FDIC on May 12, 2022[7](index=7&type=chunk) [PART I—FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%E2%80%94FINANCIAL%20INFORMATION) This part confirms the company's pre-operational status, making financial statements inapplicable, but affirms effective disclosure controls [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements.) Financial statements are not applicable as the company has not commenced operations, as detailed in the Explanatory Note - Financial statements are not applicable for this reporting period[9](index=9&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=3&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management's Discussion and Analysis is not applicable due to the company's lack of operations and financial results - Management's Discussion and Analysis is not applicable for this reporting period[11](index=11&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=3&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk.) Quantitative and Qualitative Disclosures about Market Risk are not applicable as the company has no assets, liabilities, or operations - Quantitative and Qualitative Disclosures about Market Risk are not applicable[12](index=12&type=chunk) [Item 4. Controls and Procedures](index=3&type=section&id=Item%204.%20Controls%20and%20Procedures.) Management concluded disclosure controls were effective, with no material changes to internal control over financial reporting during the quarter - Based on an evaluation, the CEO and CFO concluded that the Company's disclosure controls and procedures were effective as of the end of the period covered by the report[14](index=14&type=chunk) - There were no changes in internal control over financial reporting during the quarter ended March 31, 2022, that materially affected, or are reasonably likely to materially affect, internal controls[15](index=15&type=chunk) [PART II—OTHER INFORMATION](index=3&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) This section reports no significant events, legal proceedings, risk factor changes, unregistered sales, or defaults, and lists exhibits [Item 1. Legal Proceedings](index=3&type=section&id=Item%201.%20Legal%20Proceedings.) The company reports no legal proceedings for the current period - The company has no legal proceedings to report[18](index=18&type=chunk) [Item 1A. Risk Factors](index=3&type=section&id=Item%201A.%20Risk%20Factors.) No material changes have occurred to the risk factors previously disclosed in the Company's Registration Statement on Form S-4EF - No material changes have occurred to the risk factors previously disclosed in the Company's Registration Statement on Form S-4EF filed on March 4, 2022, and its amendment on March 18, 2022[20](index=20&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=4&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) The company reports no unregistered sales of equity securities or use of proceeds during the reporting period - The company had no unregistered sales of equity securities[21](index=21&type=chunk) [Item 3. Defaults upon Senior Securities](index=4&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities.) The company reports no defaults upon senior securities for the current period - The company had no defaults upon senior securities[22](index=22&type=chunk) [Item 5. Other Information](index=4&type=section&id=Item%205.%20Other%20Information.) No other information is reported for this item during the period - There is no other information to report for this item[24](index=24&type=chunk) [Item 6. Exhibits](index=4&type=section&id=Item%206.%20Exhibits.) This section lists filed exhibits, including the Reorganization Agreement, corporate documents, and officer certifications - The exhibits filed with the report include key corporate documents such as the Agreement and Plan of Reorganization, Articles of Incorporation, Bylaws, and CEO/CFO certifications[25](index=25&type=chunk) [Signatures](index=5&type=section&id=SIGNATURES) The report is formally signed and authorized by the principal executive and financial officers on May 12, 2022 - The report was signed on May 12, 2022, by Edward Dietzler, President and Principal Executive Officer, and George Rapp, Executive Vice President and Chief Financial Officer[29](index=29&type=chunk)