Management has utilized the $2.0 billion investment securities portfolio to generate liquidity, including $28.8 million in sales during 2025Q4, to offset ongoing funding cost pressures.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|
| Cash from Operations | 25.45M | 21.49M | 14.73M | 23.11M | 23.99M | 12.9M | 18.1M | 17.06M | 17.02M | 12.81M | 13.58M | 10.81M | 11.52M | 7.16M | 9.73M | 6.33M | 4.61M |
| Operating CF Growth % | 779.5% | 45.89% | -36.27% | -3.65% | 85.9% | -28.7% | 6.05% | 0.25% | 32.91% | -5.71% | 25.68% | -6.23% | 61.04% | -26.45% | 53.79% | 37.09% | - |
| Net Income | 19.46M | 18.61M | 10.24M | 25.77M | 26.49M | 22.49M | 13.81M | 10.14M | 14.71M | 11.01M | 11.84M | 11.01M | 9M | 8.8M | 6.31M | 2.81M | 2.39M |
| Depreciation & Amortization | 2.43M | 2.65M | 2.28M | 1.98M | 2.05M | 1.95M | 1.89M | 1.27M | 638K | 820K | 949K | 1.07M | 1.08M | 1.04M | 955K | 742K | 479.76K |
| Deferred Taxes | 915K | 1.96M | -807K | 200K | 527K | 276K | -926K | -62K | -3.24M | 4.74M | 20K | 12K | -452K | -480K | -920K | 0 | 0 |
| Other Non-Cash Items | -422K | -51K | -400K | -10.91M | -5.56M | -6.23M | -1.14M | 1.3M | -662K | 2.11M | -1.29M | 365K | 235K | 0 | 2.46M | 1.24M | 287.82K |
| Working Capital Changes | 1.79M | -3M | 2.4M | 5.27M | 430K | -5.85M | 4.15M | 3.9M | 4.88M | -6.35M | 1.51M | -2.41M | 481K | -3.18M | 1.69M | 1.54M | 1.46M |
| Cash from Investing | 110.32M | 68.21M | -154.05M | -5.76M | -26.46M | 3.54M | -140.25M | 31.79M | -108.61M | -112.91M | -23.11M | -61.39M | -69.71M | -113.13M | -138M | -143.36M | -132.17M |
| Purchase of Investments | -9.9M | -12.46M | -181.16M | -14.68M | -5.38M | -41.96M | -28.33M | -47.23M | -9.14M | -17.47M | -7.05M | -17.52M | 0 | 0 | 0 | -146.2M | -144.28M |
| Sale/Maturity of Investments | 85.65M | 81.13M | 34.86M | 6.51M | 10.37M | 15.02M | 66.95M | 27.91M | 18.15M | 28.55M | 34.24M | 39.29M | 0 | 0 | 0 | 132.85M | 73.04M |
| Net Investment Activity | 75.75M | 68.67M | -146.3M | -8.17M | 4.99M | -26.94M | 38.62M | -19.32M | 9M | 11.08M | 27.19M | 21.78M | 0 | 0 | 0 | -13.35M | -71.24M |
| Acquisitions | 0 | 0 | 7.87M | -2.23M | 0 | 0 | 0 | 161.28M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11.03M |
| Other Investing | 35.53M | 425K | -14.09M | 6.36M | -30.84M | 31.68M | -175.77M | -106.19M | -116.65M | -123.83M | -50.28M | -82.53M | -68.65M | -112.28M | -136.43M | -125.79M | -64.11M |
| Cash from Financing | -83.64M | -71.36M | 106.11M | 79.85M | -102.89M | 64.84M | 126.98M | -2.64M | 35.15M | 163.32M | 540K | 47.3M | 62.63M | 108.78M | 93.67M | 170.63M | 145.87M |
| Dividends Paid | -9.06M | -8.66M | -7.61M | -7.45M | -6.46M | -4.39M | -2.71M | -1.28M | -200K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -7.76M | -7.87M | -842K | 0 | -9.42M | -10.03M | 0 | 0 | 0 | 0 | 0 | 0 | 41K | 0 | 0 | 0 | 0 |
| Stock Issued | 26K | 1.83M | 0 | 0 | 0 | 0 | 31K | 0 | 0 | 51.8M | 0 | 0 | 0 | 0 | 3K | 8.6M | 5.58M |
| Net Stock Activity | -7.73M | -6.04M | -842K | 0 | -9.42M | -10.03M | 31K | 0 | 0 | 51.8M | 0 | 0 | 41K | 0 | 3K | 8.6M | 5.58M |
| Debt Issuance (Net) | 0 | 0 | 0 | -1000K | 1000K | 0 | 0 | -1000K | 1000K | -1000K | -1000K | 1000K | -1000K | -1000K | 1000K | -1000K | -1000K |
| Other Financing | -66.85M | -56.66M | 114.56M | 97.3M | -97.02M | 79.26M | 129.66M | 54.04M | -20.05M | 167.61M | 73.24M | -57.2M | 64.93M | 112.49M | 76.73M | 169.66M | 143.66M |
| Net Change in Cash | 52.12M | 18.34M | -33.21M | 97.21M | -105.36M | 81.29M | 4.83M | 46.21M | -56.44M | 63.22M | -8.98M | -3.28M | 4.45M | 2.81M | -34.6M | 0 | 0 |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 135.69M | 117.35M | 150.56M | 53.35M | 158.72M | 77.43M | 72.6M | 26.38M | 82.82M | 19.61M | 28.59M | 31.87M | 27.43M | 24.62M | 59.22M | 0 | 0 |
| Cash at End | 119.79M | 135.69M | 117.35M | 150.56M | 53.35M | 158.72M | 77.43M | 72.6M | 26.38M | 82.82M | 19.61M | 28.59M | 31.87M | 27.43M | 24.62M | 0 | 0 |
| Interest Paid | 56.84M | 61.61M | 50.17M | 25.03M | 6.02M | 8.11M | 14.23M | 16.58M | 12.75M | 8.59M | 7.84M | 7M | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 1.65M | 2.25M | 1.82M | 5.88M | 6.99M | 9.03M | 3.18M | 3.11M | 1.97M | 5.34M | 3.51M | 5.1M | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 24.48M | 20.6M | 13.21M | 21.4M | 23.38M | 11.71M | 15M | 13.08M | 16.06M | 12.66M | 13.57M | 10.17M | 10.46M | 6.3M | 8.16M | 4.46M | 2.77M |
| FCF Growth % | 157.72% | 56.01% | -38.29% | -8.47% | 99.64% | -21.93% | 14.66% | -18.55% | 26.9% | -6.75% | 33.46% | -2.82% | 65.96% | -22.77% | 83.05% | 61.09% | - |
CRE concentration refinance risk
According to recent SEC filings, BPRN has maintained consistent dividend payments totaling approximately $2.0 million per quarter, suggesting that despite earnings volatility, the bank prioritizes capital retention to support its regulatory buffers while navigating the current interest rate environment and potential credit provisioning requirements in its loan book.
The bank's ability to generate positive net income across most quarters, despite lumpy provisioning, indicates a baseline level of organic capital generation. Investors should monitor whether the current retention rate is sufficient to support future loan growth without necessitating external capital raises or dilutive equity issuance.
As reported in financial statements, BPRN has consistently liquidated investment securities, with sales reaching $28.8 million in 2025Q4, which appears to be a strategic effort to generate liquidity and offset the impact of rising funding costs on the bank's net interest margin and overall cash position.
The recurring nature of these securities sales suggests that the bank is actively managing its balance sheet duration and liquidity profile. This activity warrants further investigation to determine if the bank is realizing losses on these sales or if it is successfully repositioning its portfolio for higher yields.
Based on BPRN's reported figures, the bank has maintained a steady dividend payout of roughly $2 million per quarter, even during periods of significant net income contraction, which implies a management commitment to shareholder returns that may be tested if credit costs continue to pressure bottom-line profitability.
While the dividend appears stable, the payout ratio fluctuates significantly due to the volatility in net income. Analysts should evaluate whether this payout level remains prudent given the bank's concentration in commercial real estate and the potential for future reserve builds under the CECL accounting framework.
Data from recent filings reveals that BPRN's operating cash flow is heavily influenced by non-cash provision adjustments, as evidenced by the $7.0 million provision charge in 2025Q2, which significantly distorted the bank's reported cash flow metrics and masked the underlying operational performance of the core lending business.
The erratic nature of these provisions suggests that the bank is responding to specific credit events or adjusting its reserve models in anticipation of regional economic shifts. Investors should look past these accounting-driven fluctuations to assess the true cash-generating capacity of the bank's recurring interest income streams.
Quick answers to the most common questions about buying BPRN stock.
Princeton Bancorp, Inc. (BPRN) generated $21.5M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Princeton Bancorp, Inc. (BPRN) generated $20.6M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Princeton Bancorp, Inc. (BPRN) spent $0.9M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Princeton Bancorp, Inc. (BPRN) returned $8.7M to shareholders via cash dividends and spent $7.9M on share repurchases. This shows the company's commitment to returning capital to its equity investors.