The Bank of Princeton

What The Bank of Princeton does

The Bank of Princeton is a New Jersey state-chartered commercial bank founded in 2007, operating as a wholly-owned subsidiary of the publicly-traded Princeton Bancorp, Inc. (NASDAQ: BPRN). It provides full-service community banking to individual consumers and small-to-mid-size businesses across New Jersey, Pennsylvania, and New York through a physical branch network (headquartered in Princeton with multiple South Jersey locations including Voorhees, Woodbury, Burlington, Cherry Hill, Medford, and Moorestown), complemented by digital channels including iOS/Android mobile apps, online banking, mobile deposit, and 24/7 telephone banking. Following two major acquisitions — Noah Bank in May 2023 and Cornerstone Financial Corporation in August 2024 — the bank has grown to approximately $2.31 billion in total assets as of late 2024.

The bank's product portfolio spans personal banking (checking, savings, CDs, IRAs, mortgages, HELOCs, consumer loans, personal and business credit cards via Elan Financial Services) and commercial banking (business checking and savings tiers, commercial lending including lines of credit, term loans, and commercial mortgages, plus cash management services such as remote deposit capture, ACH/wire, Positive Pay, sweep accounts, and merchant services). Technology infrastructure includes the Banno digital banking platform, mobile deposit with $2,500 per-check and per-day limits, real-time NotifiAlerts, ICS/CDARS for multi-million-dollar FDIC coverage, the Allpoint network for 55,000 surcharge-free ATMs, Zelle person-to-person payments, CardValet card management, and uChoose Rewards.

Revenue is generated primarily through net interest income on the lending book (mortgages, commercial loans, consumer loans, HELOCs), supplemented by transaction-based fees (overdraft up to $35 per item, wire transfers, safe deposit boxes, ATM services) and credit card interchange. The bank targets a horizontal segmentation approach across consumer, SMB, commercial real estate, and homeowner segments, emphasizing personalized community banking relationships, local decision-making, and hundreds of local charitable partnerships as key differentiators versus larger national competitors.

Name

The Bank of Princeton

Legal name

The Bank of Princeton

Website

https://thebankofprinceton.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

The Bank of Princeton is a community bank providing full-service personal and business banking products — including deposits, mortgages, commercial lending, and digital banking — to consumers and SMBs across New Jersey, Pennsylvania, and New York, operating as a subsidiary of Princeton Bancorp (NASDAQ: BPRN).

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Retail banking services
• Community banking
• Commercial lending
• Business cash management
• Digital banking platform

Headquarters

HQ city

Princeton

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income from lending activities including mortgages, commercial loans, consumer loans, and home equity lines of credit, offset by interest paid on deposits.
2. Banking Fees and Service Charges: Fees from overdraft protection, wire transfers, safe deposit boxes, ATM services, and other account-related services.
3. Credit Card Revenue: Revenue from business credit card programs issued through Elan Financial Services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

The Bank of Princeton is a New Jersey state-chartered community bank providing personal and business deposit accounts (checking, savings, CDs, IRAs), lending products (residential mortgages, HELOCs, consumer loans, and commercial loans/lines of credit/business credit cards), and digital banking through online and mobile channels with mobile deposit, Zelle, bill pay, cash management, and FDIC-insured sweep products. It serves customers across New Jersey, Pennsylvania, and New York through physical branches and digital channels, operating as a wholly-owned subsidiary of publicly traded Princeton Bancorp, Inc. (NASDAQ: BPRN).

Product overview

The Bank of Princeton operates as a full-service community bank offering a unified portfolio of retail and commercial banking products. The core banking platform encompasses personal and business checking/savings accounts, CDs, IRAs, and lending products (mortgages, consumer loans, HELOCs, and commercial lending). The digital banking suite includes online banking, mobile banking app with mobile deposit, Zelle person-to-person payments, and business digital banking with cash management services. Additional services include wire transfers, Safe Deposit Boxes, ICS/CDARS FDIC protection, and a comprehensive suite of financial calculators for retirement, mortgage, and savings planning. The bank has grown through acquisitions, completing mergers with Noah Bank (2023) and Cornerstone Financial Corporation (2024), expanding its footprint to approximately $2.31 billion in assets across New Jersey, Pennsylvania, and New York.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Personal checking accounts designed for individual customers with various features including overdraft protection and digital banking access.
• Personal Savings Accounts Personal savings accounts with competitive interest rates and flexible access to funds.
• Personal CDs & IRAs Certificates of Deposit and Individual Retirement Accounts (Traditional and Roth) offering fixed interest rates with various term lengths and tax-deferred growth.
• Mortgages Home mortgage loans including purchase and refinance options for homebuyers.
• Consumer Lending Personal loans and credit lines for individual borrowing needs including debt consolidation and major purchases.
• Home Equity Line of Credit (HELOC) Revolving line of credit secured by home equity with variable rates, featuring promotional pricing below Prime Rate for the first 6 months.
• Personal Credit Cards Personal credit cards offering various options including cash back, low interest rates, travel rewards, and cards for building credit.
• Personal ATM/Debit Cards Personal ATM and debit cards providing card access for withdrawals, purchases, and transactions at ATMs and merchants with access to the Allpoint network.
• Safe Deposit Boxes Secure storage boxes available in various sizes for customer valuables and important documents.
• Business Checking Business checking accounts including Wise Business Checking, Premier Business Checking, and Municipal Accounts with various features and fee structures.
• Business Savings Wise Business Savings account with $1,000 minimum deposit and tiered interest rates.
• Business Money Market and CDs Business Money Market account and Business Certificates of Deposit with minimum deposits and tiered rates for various terms from 3 to 60 months.
• Business Credit Cards Business credit cards with options including low rate, cash back, or flexible rewards programs, issued through Elan Financial Services under Visa license.
• Business ATM/Debit Cards Business debit cards enabling control over bill payments and everyday business expenses with access to the Allpoint ATM network.
• Commercial Lending Commercial lending products including Business Lines of Credit, Business Term Loans, and Commercial Mortgages for commercial real estate and business financing.
• Cash Management Services Business cash management solutions including investment sweep accounts, wire transfers, zero balance accounts, night depository, remote deposit capture, ACH services, merchant services, and Positive Pay.
• Business Bill Pay Online bill payment service for business accounts with features including invoice management, payment scheduling, and recurring payments.
• Digital Banking Online and mobile banking platform providing 24/7 account access, fund transfers, bill payment, and mobile deposit capabilities for personal and business customers.
• Business Online and Mobile Banking Comprehensive online and mobile business banking platform with account management, bill pay, cash management, and reporting capabilities.
• Send Money with Zelle Person-to-person payment service enabling customers to send money directly to friends and family using their bank account.
• ICS & CDARS FDIC Protection Deposit placement service through IntraFi Cash Services and CDARS enabling multi-million-dollar FDIC insurance coverage beyond the standard $250,000 limit.
• Merchant Services Payment processing services allowing businesses to accept card payments at physical locations, online, or on mobile devices with next-day funding available.
• Overdraft Protection Account protection covering overdrafts through linked deposit accounts or credit lines, with standard overdraft practices and Reg-E opt-in options.

Quantifiable outcome

• Merger with Cornerstone Financial Corporation completed August 23, 2024, expanding assets to $2.31 billion
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature5 records

Partnerships

Two partnerships are on record, tiered major.

• Cornerstone Financial CorporationmajorStrategic or Co-development Partner · 23 August 2024Princeton Bancorp, Inc. completed its merger with Cornerstone Financial Corporation and the subsequent merger of The Bank of Princeton with Cornerstone Bank on August 23, 2024. The merger expands Princeton Bancorp's assets to approximately $2.31 billion and enhances its branch network across New Jersey, Pennsylvania, and New York.
• Noah BankmajorStrategic or Co-development Partner · 19 May 2023Princeton Bancorp, Inc. completed its acquisition of Noah Bank on May 19, 2023, merging both entities under The Bank of Princeton. The merger increases the combined assets to approximately $1.8 billion and expands the branch network in New Jersey, Pennsylvania, and New York.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• First Bank (NJ): New Jersey state-chartered community bank serving consumers and small businesses across NJ and PA with similar deposit, lending, and digital banking products. Closely comparable scale and footprint.
• OceanFirst Financial Corp. Mid-Atlantic community bank holding company ($13B+ assets) with similar consumer/SMB focus across New Jersey, Pennsylvania, and New York, plus commercial lending. Closest regional comparable in scale ambition.
• ConnectOne Bancorp: New Jersey-based commercial bank serving consumers, professionals, and SMBs across NJ, NY, and PA with full deposit, lending, and treasury management products. Similar customer profile and geographic overlap.
• Northfield Bancorp: Community-oriented bank holding company serving consumers and businesses in NJ, NY, and PA with comparable deposit and lending products. Similar geographic concentration and asset size tier.
• Peapack-Gladstone Bank: New Jersey-based commercial and private bank serving high-net-worth clients, businesses, and consumers across NJ, NY, and PA with similar commercial lending and deposit products. Comparable mid-Atlantic community banking model.
• Provident Financial Services: New Jersey-headquartered community bank holding company with retail and commercial banking across NJ, PA, and NY. Similar product set including commercial lending, mortgages, and digital banking.

Emerging players

• Live Oak Bancshares: Digital-forward community bank that has prioritized technology investments and non-traditional lending verticals; relevant comparable on the innovation/digital transformation axis even though geographic footprint differs.

Broad incumbents

• Valley National Bancorp: Large regional bank ($60B+ assets) headquartered in NJ serving consumers and businesses across the Northeast. Larger scale competitor with overlapping footprint but broader product suite.
• New York Community Bancorp / Flagstar: Multi-state regional bank with significant NJ/NY/PA branch presence offering similar community banking products. Larger competitor with greater product breadth and technology investments.

Others

• Two Harbors Investment Corp. Adjacent financial services company (not directly comparable); included to reflect broader mid-Atlantic financial services ecosystem investors may benchmark against.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/bankwisely
• Facebookfacebook.com/bankwisely
• LinkedInlinkedin.com/company/the-bank-of-princeton
• Instagraminstagram.com/thebankofprinceton

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Bank of Princeton