Princeton Bancorp(BPRN) - 2022 Q1 - Quarterly Report

Explanatory Note 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] - As of March 31, 2022, the Company had no assets or liabilities and had not conducted any business other than organizational activities[6] - 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] PART I—FINANCIAL INFORMATION This part confirms the company's pre-operational status, making financial statements inapplicable, but affirms effective disclosure controls Item 1. Financial Statements 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] Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 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] Item 3. Quantitative and Qualitative Disclosures about Market Risk 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] Item 4. Controls and Procedures 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] - 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] PART II—OTHER INFORMATION This section reports no significant events, legal proceedings, risk factor changes, unregistered sales, or defaults, and lists exhibits Item 1. Legal Proceedings The company reports no legal proceedings for the current period - The company has no legal proceedings to report[18] Item 1A. Risk Factors 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] Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 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] Item 3. Defaults upon Senior Securities The company reports no defaults upon senior securities for the current period - The company had no defaults upon senior securities[22] Item 5. Other Information No other information is reported for this item during the period - There is no other information to report for this item[24] Item 6. Exhibits 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] 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]