$BPRN
Princeton Bancorp, Inc.

2023 Q2 Form 10-Q Financial Statement

#000119312523142133 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $23.01M $20.61M $17.08M
YoY Change 31.84% 20.69%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $1.318M $1.300M $1.035M
YoY Change 24.81% 25.6%
% of Gross Profit
Depreciation & Amortization $480.0K $441.0K $472.0K
YoY Change 0.84% -6.57% -1.67%
% of Gross Profit
Operating Expenses $1.318M $1.300M $1.035M
YoY Change 24.81% 25.6%
Operating Profit
YoY Change
Interest Expense $7.353M $3.951M $1.224M
YoY Change 529.0% 222.79%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $6.949M $7.998M $7.632M
YoY Change -12.82% 4.8% 22.5%
Income Tax $161.0K $1.901M $1.611M
% Of Pretax Income 2.32% 23.77% 21.11%
Net Earnings $6.788M $6.097M $6.021M
YoY Change 7.29% 1.26% 24.14%
Net Earnings / Revenue 29.5% 29.58% 35.26%
Basic Earnings Per Share $1.08 $0.97 $0.93
Diluted Earnings Per Share $1.07 $0.95 $910.0K
COMMON SHARES
Basic Shares Outstanding 6.262M 6.257M 6.465M
Diluted Shares Outstanding 6.365K 6.386K 6.614K

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $143.0M $18.02M $94.03M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $14.62M $11.66M $29.98M
YoY Change -50.3% -61.1% -1.72%
Goodwill $8.900M $8.853M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.70M $7.784M $6.102M
YoY Change 75.75% 27.56% 29.83%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.843B $1.585B $1.678B
YoY Change 13.41% -5.52% -0.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.200M $2.160M $671.0K
YoY Change 989.63% 221.91% -64.68%
Accrued Expenses $23.80M $16.47M $18.12M
YoY Change 34.58% -9.13% -2.05%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.00M $18.63M $18.79M
YoY Change 64.36% -0.88% -7.88%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.30M $4.821M $4.372M
YoY Change -50.31% 10.27% -55.84%
Total Long-Term Liabilities $11.30M $4.821M $4.372M
YoY Change -50.31% 10.27% -55.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.00M $18.63M $18.79M
Total Long-Term Liabilities $11.30M $4.821M $4.372M
Total Liabilities $1.614B $1.360B $1.465B
YoY Change 14.17% -7.15% -0.5%
SHAREHOLDERS EQUITY
Retained Earnings $140.3M $135.4M
YoY Change
Common Stock $97.10M $96.88M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $228.9M $225.3M $213.2M
YoY Change
Total Liabilities & Shareholders Equity $1.843B $1.585B $1.678B
YoY Change 13.41% -5.52% -0.39%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $6.788M $6.097M $6.021M
YoY Change 7.29% 1.26% 24.14%
Depreciation, Depletion And Amortization $480.0K $441.0K $472.0K
YoY Change 0.84% -6.57% -1.67%
Cash From Operating Activities $5.620M $7.186M $4.637M
YoY Change 39.63% 54.97% -35.33%
INVESTING ACTIVITIES
Capital Expenditures $820.0K $245.0K -$250.0K
YoY Change -461.23% -198.0% 25.0%
Acquisitions
YoY Change
Other Investing Activities $77.48M -$19.59M -$59.53M
YoY Change 1504.47% -67.09% -34.37%
Cash From Investing Activities $76.66M -$19.84M -$59.78M
YoY Change 1565.8% -66.82% -34.24%
FINANCING ACTIVITIES
Cash Dividend Paid $1.876M $1.668M
YoY Change 12.47%
Common Stock Issuance & Retirement, Net -$3.301M
YoY Change -1837.37%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 42.70M -22.68M -9.543M
YoY Change -176.41% 137.62% -112.93%
NET CHANGE
Cash From Operating Activities 5.620M 7.186M 4.637M
Cash From Investing Activities 76.66M -19.84M -59.78M
Cash From Financing Activities 42.70M -22.68M -9.543M
Net Change In Cash 125.0M -35.33M -64.69M
YoY Change -364.46% -45.39% 552.73%
FREE CASH FLOW
Cash From Operating Activities $5.620M $7.186M $4.637M
Capital Expenditures $820.0K $245.0K -$250.0K
Free Cash Flow $4.800M $6.941M $4.887M
YoY Change 12.89% 42.03% -33.69%

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TreasuryStockSharesAcquired
124440
CY2022Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
3615000
CY2022Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
802
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
108000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
213240000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
219601000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
6097000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
1241000
CY2023Q1 bprn Adjustments To Adoption Of Current Expected Credit Losses
AdjustmentsToAdoptionOfCurrentExpectedCreditLosses
-284000
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
16307
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
297000
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3
CY2023Q1 us-gaap Dividends Common Stock
DividendsCommonStock
1843000
CY2023Q1 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
958
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
164000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
225273000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
6097000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
6021000
CY2023Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
265000
CY2022Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
0
CY2023Q1 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
305000
CY2022Q1 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
317000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
164000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
108000
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-11000
CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-16000
CY2023Q1 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
534000
CY2022Q1 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
1853000
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
181000
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
0
CY2023Q1 bprn Increase In Cash Surrender Value Of Bank Owned Life Insurance
IncreaseInCashSurrenderValueOfBankOwnedLifeInsurance
290000
CY2022Q1 bprn Increase In Cash Surrender Value Of Bank Owned Life Insurance
IncreaseInCashSurrenderValueOfBankOwnedLifeInsurance
282000
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-793000
CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-20000
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
136000
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
155000
CY2023Q1 us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
-2233000
CY2022Q1 us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
-1972000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-227000
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1797000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7186000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4637000
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
345000
CY2022Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
4318000
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
839000
CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2453000
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
305000
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
450000
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
2000
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
2000
CY2023Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
18840000
CY2022Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
58105000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
245000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
250000
CY2023Q1 us-gaap Payments For Proceeds From Federal Reserve Bank Stock
PaymentsForProceedsFromFederalReserveBankStock
1553000
CY2022Q1 us-gaap Payments For Proceeds From Federal Reserve Bank Stock
PaymentsForProceedsFromFederalReserveBankStock
12000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-19837000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-59780000
CY2023Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-55630000
CY2022Q1 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-4598000
CY2023Q1 bprn Proceeds From Overnight Borrowings
ProceedsFromOvernightBorrowings
-34500000
CY2022Q1 bprn Proceeds From Overnight Borrowings
ProceedsFromOvernightBorrowings
0
CY2023Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1876000
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1668000
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
33000
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
24000
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3615000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
105000
CY2023Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
297000
CY2022Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
209000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-22676000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-9543000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-35327000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-64686000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53351000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
158716000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
18024000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
94030000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
2818000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1597000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
653000
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
435000
CY2023Q1 bprn Reclass Of Paidin Capital Related To Holding Company Formation
ReclassOfPaidinCapitalRelatedToHoldingCompanyFormation
15095000
CY2022Q1 bprn Reclass Of Paidin Capital Related To Holding Company Formation
ReclassOfPaidinCapitalRelatedToHoldingCompanyFormation
0
CY2023Q1 bprn Reclass Of Treasury Stock Related To Holding Company Formation
ReclassOfTreasuryStockRelatedToHoldingCompanyFormation
19452000
CY2022Q1 bprn Reclass Of Treasury Stock Related To Holding Company Formation
ReclassOfTreasuryStockRelatedToHoldingCompanyFormation
0
CY2023Q1 bprn Reclass Of Common Stock Related To Holding Company Formation
ReclassOfCommonStockRelatedToHoldingCompanyFormation
-34547000
CY2022Q1 bprn Reclass Of Common Stock Related To Holding Company Formation
ReclassOfCommonStockRelatedToHoldingCompanyFormation
0
CY2023Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2007-03-05
CY2023Q1 us-gaap Year Founded
YearFounded
2007
CY2023Q1 us-gaap Operations Commenced Date1
OperationsCommencedDate1
2007-04-23
CY2007Q2 bprn Number Of Branches Owned By The Entity
NumberOfBranchesOwnedByTheEntity
23
CY2023Q1 bprn Number Of Employees
NumberOfEmployees
179
CY2023Q1 bprn Number Of Full Time Employees
NumberOfFullTimeEmployees
176
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;;text-indent: 0px;"><div style="font-weight:bold;display:inline;">Estimates </div></div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Because of uncertainties associated with estimating the amounts, timing and likelihood of possible outcomes, actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses and evaluation of the potential impairment of goodwill. </div> <div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Management believes that the allowance for credit losses is adequate as of March 31, 2023 and December 31, 2022. While management uses current information to recognize losses on loans, future additions to the allowance for credit losses may be necessary based on changes in economic conditions in the market area or other factors. </div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;;text-indent: 0px;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center;text-indent: 0px;"> </div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"/> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;"> </div></div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for credit losses. Such agencies may require the Company to effect certain changes that result in additions to the allowance based on their judgments about information available to them at the time of their examinations. </div>
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top: 18pt; margin-bottom: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><div style="font-weight:bold;display:inline;">Reclassifications </div></div> <div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain amounts in the prior year consolidated financial statements have been reclassified to conform to the current year’s presentation. </div>
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
19493000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
632000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
55674000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
9294000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
75167000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
6097000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
6021000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6257000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6465000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.97
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.93
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
6097000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
6021000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6257000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6465000
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
129
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
149
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6386
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6614
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.95
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.91
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
94368000
CY2023Q1 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
70000
CY2023Q1 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
9926000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
84512000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
94997000
CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
10000
CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
11605000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
83402000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
9926000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
52026000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
5235000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
25574000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
6370000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
77600000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
11605000
CY2023Q1 us-gaap Availableforsale Securities Sold At Par
AvailableforsaleSecuritiesSoldAtPar
0
CY2022Q1 us-gaap Availableforsale Securities Sold At Par
AvailableforsaleSecuritiesSoldAtPar
0
CY2023Q1 bprn Debt Securities Available For Sale And Held To Maturity Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleAndHeldToMaturityUnrealizedLossPositionNumberOfPositions
206
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
113
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
61
CY2022Q1 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2023Q1 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2023Q1 us-gaap Deposit Liabilities Collateral Issued Financial Instruments
DepositLiabilitiesCollateralIssuedFinancialInstruments
0
CY2022Q4 us-gaap Deposit Liabilities Collateral Issued Financial Instruments
DepositLiabilitiesCollateralIssuedFinancialInstruments
0
CY2023Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
1390523000
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1372824000
CY2023Q1 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
-1948000
CY2022Q4 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
-2456000
CY2023Q1 bprn Loans Receivable Including Deferred Fees And Cost
LoansReceivableIncludingDeferredFeesAndCost
1388575000
CY2022Q4 bprn Loans Receivable Including Deferred Fees And Cost
LoansReceivableIncludingDeferredFeesAndCost
1370368000
CY2022Q1 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
0
CY2023Q1 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
0
CY2023Q1 bprn Financing Receivable Allowance For Credit Losses Current Expected Credit Loss Adoption
FinancingReceivableAllowanceForCreditLossesCurrentExpectedCreditLossAdoption
-301000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
344000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
0
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
16507000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
16461000
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
949000
CY2022Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
332000
CY2023Q1 bprn Financing Receivable Allowance For Credit Loss And Off Balancesheet
FinancingReceivableAllowanceForCreditLossAndOffBalancesheet
17456000
CY2022Q4 bprn Financing Receivable Allowance For Credit Loss And Off Balancesheet
FinancingReceivableAllowanceForCreditLossAndOffBalancesheet
16793000
CY2023Q1 bprn Financing Receivable Nonaccrual With Allowance For Credit Loss
FinancingReceivableNonaccrualWithAllowanceForCreditLoss
148000
CY2023Q1 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
6307000
CY2022Q4 bprn Financing Receivable Nonaccrual With Allowance For Credit Loss
FinancingReceivableNonaccrualWithAllowanceForCreditLoss
148000
CY2022Q4 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
118000
CY2023Q1 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
1384011000
CY2023Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
1390523000
CY2023Q1 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
171000
CY2022Q4 us-gaap Notes And Loans Receivable Gross Current
NotesAndLoansReceivableGrossCurrent
1364634000
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1372824000
CY2022Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
184000
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1372824000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
16461000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
3000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
16507000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
118000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
16389000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
16507000
CY2023Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
265000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
344000
CY2023Q1 bprn Increase Decrease In Reserve For Unfunded Liabilities
IncreaseDecreaseInReserveForUnfundedLiabilities
79000
CY2023Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
7145000
CY2023Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1383378000
CY2023Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
1390523000
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
16620000
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
34000
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
16654000
CY2022Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
12377000
CY2022Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1360447000
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1372824000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
118000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
16343000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
16461000
CY2023Q1 bprn Nonperformingassets
Nonperformingassets
6500000
CY2023Q1 bprn Increase In Nonperformingassets
IncreaseInNonperformingassets
6200000
CY2023Q1 bprn Increase In Non Performingassets Due To Delinquency
IncreaseInNonPerformingassetsDueToDelinquency
6200000
CY2023Q1 bprn Demand Non Interest Bearing Checking
DemandNonInterestBearingChecking
218709000
CY2023Q1 bprn Percentage Of Non Interest Bearing Deposit Liabilities
PercentageOfNonInterestBearingDepositLiabilities
0.1693
CY2022Q4 bprn Demand Non Interest Bearing Checking
DemandNonInterestBearingChecking
265078000
CY2022Q4 bprn Percentage Of Non Interest Bearing Deposit Liabilities
PercentageOfNonInterestBearingDepositLiabilities
0.1967
CY2023Q1 bprn Demand Interest Bearing Checking
DemandInterestBearingChecking
244889000
CY2023Q1 bprn Percentage Of Interest Bearing Deposit Liabilities
PercentageOfInterestBearingDepositLiabilities
0.1895
CY2022Q4 bprn Demand Interest Bearing Checking
DemandInterestBearingChecking
269737000
CY2022Q4 bprn Percentage Of Interest Bearing Deposit Liabilities
PercentageOfInterestBearingDepositLiabilities
0.2001
CY2023Q1 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
173502000
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PercentageOfDepositsSavingsDeposits
0.1343
CY2022Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
190686000
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0.1415
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263874000
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0.2042
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DepositsMoneyMarketDeposits
283652000
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PercentageOfDepositsMoneyMarketDeposits
0.2105
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TimeDeposits250000OrMore
88378000
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0.0684
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TimeDeposits250000OrMore
83410000
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0.0619
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302748000
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TimeDepositsOther
255167000
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CY2023Q1 us-gaap Deposits
Deposits
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1
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Deposits
1347730000
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PercentageOfDepositLiabilities
1
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18024000
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CY2023Q1 us-gaap Debt Securities Held To Maturity Amortized Cost After Allowance For Credit Loss
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199000
CY2023Q1 us-gaap Notes Receivable Net
NotesReceivableNet
1372068000
CY2023Q1 us-gaap Federal Reserve Bank Stock
FederalReserveBankStock
3295000
CY2023Q1 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
4865000
CY2023Q1 us-gaap Deposits
Deposits
1292100000
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
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CY2023Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
2160000
CY2022Q4 us-gaap Cash Cash Equivalents And Federal Funds Sold
CashCashEquivalentsAndFederalFundsSold
53351000
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
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83402000
CY2022Q4 us-gaap Debt Securities Held To Maturity Amortized Cost After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAmortizedCostAfterAllowanceForCreditLoss
201000
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
1353907000
CY2022Q4 us-gaap Federal Reserve Bank Stock
FederalReserveBankStock
1742000
CY2022Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
4756000
CY2022Q4 us-gaap Deposits
Deposits
1347730000
CY2022Q4 us-gaap Long Term Debt
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10000000
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1027000
CY2023Q1 bprn Gross Carrying Amount Operating Lease Right Of Use Asset
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16026000
CY2022Q4 bprn Gross Carrying Amount Operating Lease Right Of Use Asset
GrossCarryingAmountOperatingLeaseRightOfUseAsset
17919000
CY2023Q1 bprn Accumulated Amortization Operating Lease Right Of Use Asset
AccumulatedAmortizationOperatingLeaseRightOfUseAsset
319000
CY2022Q4 bprn Accumulated Amortization Operating Lease Right Of Use Asset
AccumulatedAmortizationOperatingLeaseRightOfUseAsset
1893000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
15707000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16026000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
16466000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
16772000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y1M6D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0254
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
665000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
700000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2000
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
24000
CY2023Q1 us-gaap Lease Cost
LeaseCost
667000
CY2022Q1 us-gaap Lease Cost
LeaseCost
724000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
585000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
573000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2227000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2074000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2000000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1795000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1499000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
10014000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
19609000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3143000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
16466000
CY2023Q1 us-gaap Goodwill
Goodwill
8900000
CY2023Q1 us-gaap Business Acquisition Purchase Price Allocation Goodwill Expected Tax Deductible Amount
BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount
8900000
CY2023Q1 bprn Goodwill Amortization Period
GoodwillAmortizationPeriod
P15Y
CY2022Q4 us-gaap Goodwill
Goodwill
8853000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1825000
CY2023Q1 bprn Amortization Expense
AmortizationExpense
-135000
CY2023Q1 us-gaap Goodwill
Goodwill
8853000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1690000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
357000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
415000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
338000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
261000
CY2023Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
183000
CY2023Q1 bprn Finite Lived Intangible Assets Amortization Expense After Fourth Year
FiniteLivedIntangibleAssetsAmortizationExpenseAfterFourthYear
136000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1690000

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