The Bank of Princeton Announces Pricing of Public Offering of Common Stock and Commencement of Trading on The NASDAQ Global Select Market®

PRINCETON, N.J.--()--The Bank of Princeton (OTC-Pink: BPRN) announced today the pricing of an underwritten public offering of 1,500,000 shares of its common stock at a price to the public of $32.00 per share. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately $48.0 million. In addition, The Bank of Princeton has granted the underwriters a 30-day option to purchase up to an additional 225,000 shares of its common stock.

The Bank of Princeton also announced today that its application to list its shares of common stock on The NASDAQ Stock Market LLC (“Nasdaq”) has been approved. The Bank’s common stock will begin trading on The NASDAQ Global Select Market® at the opening bell on August 1, 2017, keeping its present ticker symbol “BPRN.” The offering is expected to close on or about August 4, 2017, subject to customary closing conditions.

The Bank of Princeton intends to use the proceeds for general corporate purposes, additional organic growth through its loan portfolio or through strategic acquisitions, financings, investments, and capital expenditures.

Sandler O’Neill + Partners, L.P. is acting as sole book-running manager for the offering. Boenning & Scattergood, Inc. and FBR Capital Markets & Co., a B. Riley Financial Company, are acting as co-managers.

The offering will be made only by means of an offering circular. Copies of the offering circular relating to this offering may be obtained, when available, by contacting Sandler O’Neill + Partners, L.P., Attention: Prospectus Department, 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, or via email at syndicate@sandleroneill.com.

This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the securities, which is being made only by means of an offering circular, nor shall there be any sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation.

About The Bank of Princeton

The Bank of Princeton is a community bank founded in 2007. The Bank is a New Jersey state-chartered commercial bank with ten branches in New Jersey, including three in Princeton and others in Hamilton, Pennington, Montgomery, Monroe, Lambertville, Lawrenceville, and New Brunswick. There are also three branches in the Philadelphia, Pennsylvania area, operating as MoreBank, a division of The Bank of Princeton. The Bank of Princeton is a member of the Federal Deposit Insurance Corporation ("FDIC").

Forward-Looking Statements

The 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.

These 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 include, but are not limited to, satisfying the ongoing listing requirements of The NASDAQ Stock Market LLC and 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 United States economy in general and the strength of the local economies in which the Bank conducts operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation, interest rate, market and monetary fluctuations; market volatility; the value of the Bank's products and services as perceived by actual and prospective customers, including the features, pricing and quality compared to competitors' products and services; the willingness of customers to substitute competitors' products and services for the Bank's products and services; credit risk associated with the Bank's lending activities; risks relating to the real estate market and the Bank's real estate collateral; the impact of changes in applicable laws and regulations and requirements arising out of our supervision by banking regulators; other regulatory requirements applicable to the Bank; technological changes; acquisitions; changes in consumer spending and saving habits; a liquid trading market for our common stock may not develop or, if developed, may not be maintained; and the success of the Bank at managing the risks involved in the foregoing.

The Bank cautions that the foregoing list of important factors is not exclusive. The Bank does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Bank, except as required by applicable law or regulation.

Contacts

The Bank of Princeton
George S. Rapp, 609-454-0718
grapp@thebankofprinceton.com

Release Summary

The Bank of Princeton Announces Pricing of Public Offering of Common Stock and Commencement of Trading on The NASDAQ Global Select Market®

The Bank of Princeton