Business
The Bank of Princeton Completes Acquisition of Five WSFS Bank Branches
PRINCETON, N.J., May 17, 2019 /PRNewswire/ -- The Bank of Princeton (the "Bank") (NASDAQ – BPRN) announced that it has successfully completed the previously
About this update from Princeton Bancorp, Inc.
[{"type":"text","content":"PRINCETON, N.J., May 17, 2019 /PRNewswire/ -- The Bank of Princeton (the \"Bank\") (NASDAQ – BPRN) announced that it has successfully completed the previously announced acquisition of five WSFS Bank branches located in Bordentown, Browns Mills, Chesterfield, Deptford and Sicklerville, in New Jersey. \nWith the completion of the acquisition, the Bank will be adding approximately $180 million in deposits and increase the number of branches to nineteen. This acquisition expands the footprint of the Bank into Burlington, Gloucester and Camden Counties, in New Jersey.\nEdward Dietzler, President and CEO stated, \"We are very excited about the branch acquisition and view it as transformational for The Bank of Princeton, allowing for considerable opportunities to grow and improve shareholder value.\"\nAbout The Bank of Princeton\nThe Bank of Princeton is a community bank founded in 2007. The Bank is a New Jersey state-chartered commercial bank with sixteen branches in New Jersey, including three in Princeton and others in Bordentown, Browns Mills, Chesterfield, Cream Ridge, Deptford, Hamilton, Lambertville, Lawrenceville, Monroe, Montgomery, New Brunswick, Pennington, and Sicklerville. There are also three branches in the Philadelphia, Pennsylvania area. The Bank of Princeton is a member of the Federal Deposit Insurance Corporation (\"FDIC\").\nForward-Looking Statements\nThe Bank of Princeton may from time to time make written or oral \"forward-looking statements,\" including statements contained in the Bank's filings with the FDIC, in its reports to stockholders and in other communications by the Bank (including this press release), which are made in good faith by the Bank pursuant to the \"safe harbor\" provisions of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended.\nThese forward-looking statements involve risks and uncertainties, such as statements of the Bank's plans, objectives, expectations, estimates and intentions that are subject to change based on various important factors (some of which are beyond the Bank's control). The following factors, among others, could cause the Bank's financial performance to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: the strength of the Uni...