SEC Form DEF 14A filed by Princeton Bancorp Inc.

PRINCETON BANCORP, INC.

183 Bayard Lane

Princeton, New Jersey 08540

(609) 921-1700

March 21, 2025

To Our Shareholders:

You are cordially invited to the 2025 Annual Meeting of Shareholders (the “annual meeting”) of Princeton Bancorp, Inc. (the “Company”). Similar to last year, the annual meeting will be held virtually over the Internet on Tuesday, April 22, 2025, at 10:00 a.m., Eastern Time. The annual meeting can be accessed by visiting https://meetnow.global/MMRWZPR where you will be able to listen to the meeting live, submit questions and vote online. Shareholders of record will need a control number to access the meeting. The control number can be found on the enclosed proxy card. The annual meeting will not be held in person.

At the annual meeting, shareholders will be asked to consider and vote upon: (i) the election of nine directors to the Company’s board of directors, each to serve until the 2026 Annual Meeting of the shareholders, and until his or her successor is elected and qualified; (ii) an advisory vote to approve our named executive officer compensation; (iii) a proposal to ratify the selection of Wolf & Company, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025; (iv) a proposal to select, on an advisory basis, the frequency of future advisory votes on the compensation of our named executive officers; and (v) such other business as shall properly come before the annual meeting or any adjournment or postponement of the annual meeting.

The board of directors of the Company urges you to vote in favor of each of the board’s director nominees, and “FOR” proposals (ii) and (iii) above, and to select a one-year frequency under proposal (iv) above.

Your vote is important. On behalf of the board of directors, we urge you to submit a proxy by mail, telephone or internet as soon as possible, even if you plan to attend the annual meeting virtually. This will not prevent you from voting online at the annual meeting, but it will assure that your vote is counted if you are unable to attend virtually.

Very truly yours,

Richard J. Gillespie

Chairman

PRINCETON BANCORP, INC.

183 Bayard Lane

Princeton, New Jersey 08540

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

TO BE HELD APRIL 22, 2025

Notice is hereby given that the Annual Meeting of Shareholders (the “annual meeting”) of Princeton Bancorp, Inc. (the “Company”) will be held virtually over the Internet on Tuesday, April 22, 2025 at 10:00 AM Eastern Time. The annual meeting can be accessed by visiting https://meetnow.global/MMRWZPR where you will be able to listen to the meeting live, submit questions and vote online. Shareholders of record will need a control number to access the meeting. The control number can be found on your proxy card enclosed with this Notice. The annual meeting will not be held in person.

The annual meeting is being held for the purpose of considering and voting upon:

The board of directors has fixed the close of business on March 7, 2025 as the record date for the annual meeting. Only the Company’s shareholders as of the record date are entitled to notice of, and to vote at, the annual meeting, or any adjournment or postponement of the annual meeting.

Regardless of whether you plan to attend the annual meeting online, please submit your proxy with voting instructions as soon as possible. Please complete, sign, date and return the accompanying proxy card in the enclosed self-addressed, stamped envelope, or vote by telephone or internet in accordance with the instructions on the proxy card. If you hold your stock through a bank or broker, please direct your bank or broker to vote in accordance with the instructions you have received from your bank or broker. Any holder of record of the Company’s common stock who is present virtually at the annual meeting may vote online instead of by proxy, thereby canceling any previous proxy. In any event, a proxy may be revoked in writing at any time before its exercise at the annual meeting in the manner described in the accompanying proxy statement.

A copy of the Company’s annual report for the fiscal year ended December 31, 2024 accompanies this notice and proxy statement.

Important Notice Regarding Availability of Proxy Materials for the Annual Meeting of Shareholders to Be Held on April 22, 2025: Our proxy statement and annual report are available at www.edocumentview.com/bprn.

If you would like to receive any of the Company’s filings with the Securities and Exchange Commission under the Securities Exchange Act of 1934 or press releases, please contact Daniel J. O’Donnell, Executive Vice President, General Counsel and Chief Operating Officer, Princeton Bancorp, Inc., 183 Bayard Lane, Princeton, New Jersey 08540, (609) 454-0129.

BY ORDER OF THE BOARD OF DIRECTORS

ROBERT N. RIDOLFI

Secretary

March 21, 2025

PRINCETON BANCORP, INC.

183 Bayard Lane

Princeton, New Jersey 08540

PROXY STATEMENT FOR ANNUAL MEETING

OF SHAREHOLDERS TO BE HELD ON APRIL 22, 2025

This proxy statement is being furnished to shareholders of Princeton Bancorp, Inc. (the “Company”) in connection with the solicitation by the board of directors of the Company of proxies to be voted at the Annual Meeting of Shareholders (the “annual meeting”) to be held virtually over the Internet at 10:00 AM Eastern Time on Tuesday, April 22, 2025, or at such later date and time to which the annual meeting may be adjourned or postponed. The meeting can be accessed by visiting https://meetnow.global/MMRWZPR where you will be able to listen to the meeting live, submit questions and vote online. Shareholders of record will need a control number to access the meeting. The control number can be found on your proxy card accompanying this proxy statement. The annual meeting will not be held in person.

At the Company’s annual meeting, you will be asked to consider and vote upon the following matters:

Information regarding the election of directors and the other proposals is included in this proxy statement. In accordance with Pennsylvania law and the bylaws of the Company, no other business may be transacted at the annual meeting. Shareholders should carefully read this proxy statement.

The first date on which this proxy statement and the enclosed form of proxy are being sent to the shareholders of the Company is on or about March 24, 2025. Throughout this document, references to “we,” “us,” or “our” refer to the Company and its consolidated subsidiaries.

INFORMATION ABOUT VOTING

Why am I receiving these materials?

You are receiving these materials in connection with the solicitation of proxies on behalf of our board of directors for use at the 2025 Annual Meeting of Shareholders, which will take place on Tuesday, April 22, 2025, at 10:00 a.m., Eastern Time. As a shareholder as of the close of business on March 7, 2025, which is the record date fixed by the board of directors, you are entitled and urged to vote your shares on the proposals described in this proxy statement, and are invited to attend the annual meeting, which will be held online. The annual meeting will not be held in person.

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How are proxies being solicited?

This proxy solicitation is being made by and at the direction of the board of directors of the Company, and we will pay all expenses relating to the solicitation. In addition to the use of the mails, proxies may be solicited personally, by telephone, by email or by other electronic means by officers, directors and employees of the Company, who will not be compensated for such solicitation activities. Arrangements may be made with brokerage houses and other custodians, nominees and fiduciaries for forwarding solicitation materials to the beneficial owners of shares held of record by such persons, and the Company will reimburse those persons for their reasonable expenses. Please cast your vote by proxy immediately by mail, telephone or internet.

What is on the agenda for the annual meeting?

The agenda for the annual meeting includes:

Who can vote?

You can vote at the annual meeting if you are a holder of our common stock on the record date. The record date is the close of business on March 7, 2025. Each share of common stock you own as of the record date entitles you to one vote for each director to be elected in the election of directors and one vote on the other proposals being submitted to the shareholders at the annual meeting. As of March 7, 2025, there were 6,915,086 shares of common stock outstanding and entitled to vote.

May I attend the annual meeting? What do I need in order to attend the meeting?

The annual meeting will be conducted completely online via the internet. You are entitled to participate in the annual meeting only if you were a shareholder of record of the Company as of the close of business on March 7, 2025, the record date for the annual meeting, or if you hold a valid proxy for the annual meeting. No in-person meeting will be held.

Shareholders may attend and participate in the meeting by visiting https://meetnow.global/MMRWZPR. To participate in the annual meeting, you will need the control number included on your proxy card enclosed with this proxy statement.

If you hold your shares through an intermediary, such as a bank or broker, then in order to attend and participate in the meeting you must (1) obtain a written legal proxy from such intermediary authorizing you to vote those shares online at the annual meeting and (2) register in advance using the instructions below.

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We encourage you to access the meeting before the start time of 10:00 a.m., Eastern Time, on April 22, 2025. Please allow ample time for the log in process, which will begin at 9:45 a.m., Eastern Time, on April 22, 2025. Please follow the instructions as outlined in this proxy statement and your proxy card.

Do I need to register in advance to attend the annual meeting virtually?

If you are a registered shareholder (i.e., you hold your shares through our transfer agent, Computershare), you do not need to register to attend the annual meeting virtually. Please follow the instructions on the proxy card that you received.

If you hold your shares through an intermediary, such as a bank or broker, you must (1) obtain a written legal proxy from your bank, brokerage firm or other nominee authorizing you to vote those shares online at the annual meeting and (2) register in advance to attend the annual meeting virtually on the Internet. To register to attend the annual meeting online by webcast you must submit such written legal proxy reflecting your Company holdings along with your name and email address to Computershare. Requests for registration must be labeled as “Legal Proxy” and be received no later than 5:00 p.m., Eastern Time, on April 21, 2025.

You will receive a confirmation of your registration by email after we receive your registration materials.

Requests for registration should be directed to us at the following:

Computershare

Princeton Bancorp Legal Proxy

P.O. Box 43006

Providence, RI 02940-3006

Why is the annual meeting a virtual, online meeting?

For the safety and convenience of our shareholders, our board of directors decided not to hold an in-person annual meeting this year. All of our annual meetings since 2020 have been held virtually.

How may I vote my shares at the virtual annual meeting?

If you hold shares of the Company’s common stock as the shareholder of record, you have the right to vote those shares at the annual meeting. Please follow the instructions on your proxy card and at https://meetnow.global/MMRWZPR in order to vote your shares during the meeting. Shareholders of record will need a control number to access the meeting. The control number can be found on your proxy card.

If you are a beneficial owner and hold shares of the Company’s common stock in street name, you cannot vote the shares you beneficially own through the online voting platform unless you have a written legal proxy from your bank, brokerage firm or other nominee to do so. If you obtain a written legal proxy, please follow the instructions above under “Do I need to register in advance to attend the annual meeting virtually on the Internet?” in order to vote your shares during the meeting.

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We encourage you to access the meeting before the start time of 10:00 a.m., Eastern Time, on April 22, 2025. Please allow ample time for the log in process, which will begin at 9:45 a.m., Eastern Time, on April 22, 2025.

Even if you plan to attend the virtual annual meeting, you should submit a proxy card or voting instruction form for your shares in advance, so that your vote will be counted if you later decide not to attend the virtual annual meeting.

How do I vote shares held directly in my name without attending the annual meeting?

If you hold your shares directly and not through a bank, brokerage firm or other nominee, even if you plan to attend the virtual annual meeting, you may vote your shares in one of the other following ways:

How do I vote if shares are held through a bank, brokerage firm or other nominee?

If you hold your shares through a bank, brokerage firm or other nominee, you will need to vote your shares by providing voting instructions to your bank, brokerage firm or other nominee, in accordance with the voting instruction form provided to you by your bank, brokerage firm or other nominee, or by obtaining a legal proxy from your bank, brokerage firm or other nominee authorizing you to vote those shares at the virtual annual meeting. Only with a legal proxy from your bank, brokerage firm or other nominee can you cast your vote using the online voting platform at the annual meeting.

How do I vote the shares allocated to my account in the Employee Stock Ownership Plan (“ESOP”)?

All ESOP participants are entitled to direct the ESOP Trustee how to vote the shares allocated to their ESOP accountants. If you are an ESOP participant, you should be receiving instructions from the Company on how to vote your shares held by the ESOP Trustee. If you do not receive such instructions, please contact Daniel J. O’Donnell, Executive Vice President, General Counsel and Chief Operating Officer of the Company.

How will my proxy be voted?

Your proxy will be voted as you specify in your proxy. However, unless contrary instructions are given, we plan to vote signed and returned proxies FOR the election of each of the board of directors’ nominees named in this proxy statement, FOR the approval of our named executive officer compensation, FOR the approval of the proposal to ratify the selection of Wolf & Company, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, and in favor of holding future advisory votes to approve our named executive officer compensation every year.

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If you hold your shares of the Company’s common stock through a broker or other nominee, under applicable rules, brokers have the discretion to vote on routine matters, such as the ratification of the selection of accounting firms, but do not have discretion to vote on non-routine matters. Among other things, the election of directors and matters related to executive compensation are considered non-routine. If you do not give your broker or other nominee instructions on how to vote your shares, votes may not be cast on your behalf with respect to non-routine matters. If your broker or other nominee submits a proxy but does not vote your shares on a particular proposal because it has not received voting instructions from you, your shares will be considered to be “broker non-votes” with regard to that matter. See “What is a broker non-vote?” below.

At the annual meeting, a judge of elections will tabulate ballots cast by shareholders present virtually and voting online and votes cast by proxy.

What is a broker non-vote?

A broker non-vote occurs when a bank or brokerage firm holding shares on behalf of a shareholder does not receive voting instructions from the shareholder by a specified date before the annual meeting and the bank or brokerage firm is not permitted under applicable stock exchange rules to vote, or otherwise does not vote, those undirected shares on specified matters. Thus, if you do not give your broker specific instructions, your shares may not be voted on those matters (so-called “broker non-votes”) and will not be counted in determining the number of shares necessary for approval. Broker non-votes are not considered to be votes cast and, therefore, generally have no effect on the outcome of elections of directors or other matters that are determined based on votes cast.

Can I revoke my proxy or change my vote after submitting my proxy?

Yes. A proxy may be revoked or changed prior to its use at the annual meeting by:

Merely attending the annual meeting virtually does not mean that you have revoked your proxy. You must attend the meeting and vote online in order for your proxy to be revoked.

What constitutes a quorum at the annual meeting and how are votes counted?

We need a quorum of shareholders to hold a valid annual meeting. A quorum will be present if at least a majority of the outstanding shares of common stock entitled to vote are represented online or by proxy at the annual meeting.

How many votes are required for the election of directors?

Directors are elected by a plurality vote of shares of common stock cast online or by proxy at the annual meeting. A “plurality” means that the individuals who receive the greatest number of “FOR” votes are elected as directors, up to the number of directors to be elected at the annual meeting. Because the election of directors is based on a plurality of the votes, “withhold” votes, as well as broker non-votes, will have no effect on the outcome of the election of directors. Shareholders of the Company are not entitled to cumulative voting rights.

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How many votes are required to approve, on an advisory basis, the compensation of the Company’s named executive officers, and to ratify the selection of the Company’s independent registered public accounting firm?

The affirmative vote of a majority of the votes cast at the annual meeting, provided that a quorum is present, is required to (i) approve, on an advisory basis, the compensation of the Company’s named executive officers; and (ii) ratify the selection of the Company’s independent registered public accounting firm. Abstentions and broker non-votes will have no effect on the voting results for these proposals.

How many votes are required to select, on an advisory basis, the frequency of future advisory votes to approve our named executive officer compensation?

The advisory vote on the selection of the frequency of future advisory votes to approve our named executive officer compensation will be determined by a plurality vote of shares of common stock cast in person or by proxy at the annual meeting. Because the selection is based on a plurality of the votes, “abstain” votes and broker non-votes will have no effect on the outcome of the selection.

Where can I find the voting results of the annual meeting?

The Company will report the voting results by filing a current report on Form 8-K with the Securities and Exchange Commission (the “SEC”) within four business days after the date of the annual meeting. If the final voting results are not known when the Company files its report, it will amend the initial report to disclose the final voting results within four business days after those results become known.

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MATTER NO. 1

ELECTION OF DIRECTORS

The board of directors is elected by the shareholders to represent their interest in the Company. Our board of directors works closely with executive management and oversees the development and execution of our business strategy.

Board Composition

The Company is managed by our board of directors. Our articles of incorporation provide that the number of directors constituting the entire board of directors will not be less than three nor more than 25, and further provide that the exact number will be fixed from time to time by our board of directors. The board of directors has fixed the number of directors constituting the entire board of directors at nine.

Nomination Process

The board of directors has a nomination committee that makes reports and recommendations to the board from time to time, but no less frequently than annually, regarding the size of the board and board nominees.

The current members of the board of directors have a diversity of experience and a wide variety of backgrounds, skills, qualifications, and viewpoints that strengthen their ability to carry out their oversight role on behalf of our shareholders. The following matrix is provided to illustrate the knowledge, skills and experience of the directors that serve on our board. The matrix does not encompass all of the knowledge, skills and experience of our directors, and the fact that a particular knowledge, skill or experience is not listed does not mean that a director does not possess it. In addition, the absence of a particular knowledge, skill or experience with respect to any of our directors does not mean the director in question is unable to contribute to the decision-making process in that area. However, the matrix indicates a specific area of focus or expertise that the directors bring to our board. More information on each director’s qualifications and background can be found in the director biographies below. Our nomination committee regularly reviews the attributes required of board members in order to better facilitate our long-term goals and operational performance, enhance our corporate culture and promote diversity and inclusiveness at our company.

The following matrix shows those skills and the number of directors having each skill, highlighting the diversity of skills on the board of directors, as well as age and board tenure information.

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The board of directors has nominated the nine director candidates identified in this proxy statement, and it is intended that the proxies solicited by the board of directors will be voted “FOR” the election of each of the board of directors’ director nominees (unless the shareholder otherwise directs). If, for any reason, any board of directors’ director nominee becomes unavailable for election or service on the board of directors, the proxy solicited by the board of directors will be voted for such substituted director nominee as is selected by the board of directors. The board of directors has no reason to believe that any of the director nominees are not available or will not serve if elected.

Director Nominees

Each director nominee has been nominated to serve until the 2026 Annual Meeting of shareholders, and until his or her successor is elected and qualified. Each nominee is an incumbent director of the Company. The names of our directors and certain information about them are set forth below.

Richard J. Gillespie, Chairman. Richard J. Gillespie is the retired Founder and President of Gillespie, Inc. Started in 1973, the agency grew to become one of the 75 largest advertising agencies in the United States with annual billings in excess of $200 million. The agency was acquired by McCann-Erickson in 1998 and Mr. Gillespie served on both the North American and Worldwide Boards of the firm’s direct marketing division before retiring in 2005. Highly experienced in financial services marketing, Mr. Gillespie has worked with many major banks and financial services companies including Capital One, The Bank of New York, Household and MBNA, to name a few. He was elected to the New Jersey Advertising Hall of Fame. He also served as Vice Chairman and later Chairman of MediGuide America, a health services company with clients in over 60 countries, from 2006 until it was sold in 2023. He has also served as President of RG Development, a real estate development firm with interests in New Jersey, since 2006. Richard Gillespie is 80 years old and has served on our board of directors since 2007. Mr. Gillespie is qualified to serve as a director due to his previous board experience, his familiarity with the financial services industry and his business ties to our market.

Stephen Distler, Vice Chairman. Stephen Distler spent 25 years in the financial services industry. From 1984 to 2002 he worked at Warburg Pincus, LLC, one of the world’s pre-eminent private equity investment firms, principally serving as Managing Director and Treasurer. He is an active venture investor and a member of the board of directors of Teachers Support Network, Inc., a for-profit education company. Since 2008, he has been co-owner of Elements, a restaurant in Princeton, New Jersey. Stephen Distler is 71 years old and has served on our board of directors since 2007. Mr. Distler is qualified to serve as a director due to the broad experience garnered during a lengthy career in the financial services industry, his business evaluation and development skills and his ties to the local business community.

Ross Wishnick, Vice Chairman. Ross Wishnick was a homebuilder for 25 years specializing in the development of active adult communities. He was a senior executive with Crestwood Village, Inc. (1978-1997), a New Jersey developer and one of the pioneers in that segment of the homebuilding industry. In addition, Mr. Wishnick was a founding director of First Washington State Bank headquartered in Windsor, New Jersey, and served as such from 1988 to 2005. He served on the loan, personnel and technology committees during his tenure. Mr. Wishnick was a member of (2009 to 2020) and chaired the Princeton Human Services Commission, which provides services to youths and seniors in general assistance and advocacy for this segment of the local population. As part of this Commission, Mr. Wishnick took the lead on founding Send Hunger Packing Princeton (2013-present), which provides supplemental weekend food for low resource students. Mr. Wishnick was also a member of the advisory board of the Princeton Education Foundation (PEF) (2010-2013). PEF supports excellence in Princeton Regional Schools by contributing raised funds for capital improvements, educational programs and teacher support. Mr. Wishnick is also a member and past treasurer of the Princeton Democratic Municipal Committee (PDMC)

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(2008-present) which is an elected position. In March 2021, Mr. Wishnick and his son opened a Jersey Mike’s Subs franchise in Massachusetts, and have subsequently been approved to open three additional locations. Ross Wishnick is 73 years old, has served on our board of directors since 2007 and currently serves as Vice Chairman. Mr. Wishnick is qualified to serve as a director due to his commercial real estate development skills, his previous bank director experience and his ties to the local community.

Susan M. Barrett. Ms. Barrett is an independent financial advisor and consultant for individuals and non-profit entities. She served as the Chairman of the Board of Cornerstone Financial Corporation and Cornerstone Bank until their acquisition by the Company in August 2024. She served on the Board of Directors of both companies since 2010. She is the former President and Partner of the Registered Investment Advisory firm Dearden, Maguire, Weaver & Barrett LLC, which had $2 billion in assets under management. She served in such position from 1985 to 2007, and also was its Chief Equity Strategist. She also served for 10 years on the Board of Trustees of La Salle University, for whom she served as Chair of the Investment Committee and as a member of the Executive and Finance Committees. She is 64 years old. She is qualified to serve as a director due to her substantial bank board of directors’ experience and her knowledge of investment securities.

Edward J. Dietzler. Edward Dietzler currently serves as the Company’s and the Bank’s president and chief executive officer. Mr. Dietzler joined the Bank in September 2009 as Senior Vice President of Corporate Development and was promoted to Executive Vice President and Chief Operations Officer in March 2011. He became Acting President in January 2012 and was promoted to President of the Bank in May 2012. In June 2012, Mr. Dietzler was appointed to the board of directors of the Bank. In January 2018, he was named chief executive officer of the Bank. He has served as the president and chief executive officer of the Company since its formation in February 2022. Prior to coming to the Bank, he was the Managing Director at Bear Stearns Bank and Trust in Princeton, New Jersey from November 2007 through August 2008. While at Bear Stearns he was responsible for all aspects of banking and mortgage operations. From May 2003 through October 2007, he was with Yardville National Bank as First Senior Vice President of Capital Markets, where he oversaw the balance sheet and capital management. Prior to that, Mr. Dietzler was with GMAC Mortgage as the Director of Risk Management from December 1997 through May 2003 and was responsible for derivative trading and balance sheet management. Mr. Dietzler is 60 years old. Mr. Dietzler is a graduate of Widener University where he earned a Master of Business Administration (MBA) degree. Throughout his career, Mr. Dietzler has been active in numerous community, charitable and educational organizations in the local area. Mr. Dietzler is qualified to serve as a director due to his role as the president of the Bank, his business development skills, his familiarity with our operations and his ties to our market.

Judith A. Giacin. Judith A. Giacin is a founding member of the Certified Public Accounting firm Horvath & Giacin, P.C. She has been a Certified Public Accountant for over 40 years helping clients to achieve both personal and corporate financial goals. She is currently a member of the New Jersey Society of Certified Accountants. Ms. Giacin earned her MBA from Rutgers University. Judith A. Giacin is 78 years old and has served on our board of directors since 2007. Ms. Giacin is qualified to serve as a director due to her expertise and skills as a Certified Public Accountant, her familiarity with our operations, her business ties to our market and her involvement in local community activities. The board of directors has determined that Ms. Giacin is an “audit committee financial expert,” as defined in the regulations of the SEC.

Robert N. Ridolfi, Esq. Robert N. Ridolfi is the managing member of the law firm Robert N. Ridolfi, LLC, specializing in land use and real estate law. Since 1974, he has been both a licensed attorney in the State of New Jersey and a member of U.S. District Court, District of New Jersey. He is a 1970 graduate of Princeton University and a 1974 graduate of the University of Denver’s College of Law. Since

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1974, Mr. Ridolfi has been a member of both the New Jersey Bar Association and the Mercer County Bar Association, where for several years he served as Chairman of the Real Estate Section. In 2014, he was appointed a member of the Mercer County Judicial and Prosecutorial Due Diligence Committee. Mr. Ridolfi has served as the attorney for the Mercer County Planning Board since 2007. Mr. Ridolfi has also been a Life Governor of the Board of Trustees for the Princeton Charter Club since 2002. He has had significant experience in complex residential and commercial financing transactions. Throughout his career, Mr. Ridolfi has been active in numerous communities as well as charitable and educational organizations in the Hopewell, New Jersey area. Mr. Ridolfi was recently elected to the Board of Directors of the Trumbull Atwood Association, the governing body of a residential condominium development in Stonington, Connecticut. Mr. Ridolfi is 77 years old and has served on our board of directors since 2007. Mr. Ridolfi is qualified to serve as a director due to his skills in the area of real estate law, his familiarity with our operations and his deep ties to the local community.

Stephen K. Shueh. Since 1997, Stephen K. Shueh has been a Managing Partner of Roundview Capital, a money management firm for high net worth families and institutions. Mr. Shueh received an A.B. with honors from Princeton University, a master’s degree in government from Harvard University, and an M.B.A. from The Wharton School of the University of Pennsylvania where he was the recipient of the Dean’s Award. He helped create, and currently serves on, the investment committee to manage the endowment for Grounds for Sculpture, which was founded in 1992 by artist and philanthropist John Seward Johnson II. He has chaired the Endowment Management Committee for the United Way of Greater Mercer County since 2009. He has been active with the Princeton YMCA since 2003, and served as Chairman of the Joint Trustees of the Princeton YMCA/YWCA in 2015. He has served as Vice President of the Montgomery Township Education Foundation since 2013. In 2016, he joined the Montgomery Township Recreation Committee to help manage the township’s significant investments in its parks and recreational facilities. He currently serves as Chairman of the Recreation Committee. He served on the board of directors for the various funds managed by Lightbox Ventures, an early-stage venture firm in India, from 2019 to 2022. Stephen Shueh is 49 years old and has served on our board of directors since 2008. Mr. Shueh is qualified to serve as a director due to his business development skills, his experience as a director, his familiarity with our operations, and his ties to our market.

Martin Tuchman. Martin Tuchman has served as the Chairman and Chief Executive Officer of The Tuchman Group, a firm with holdings in real estate, banking and international shipping, since 2007. He has served on the Board of Directors of FTAI Aviation Ltd., a NASDAQ listed company, since November 2022. He served on the Board of Directors of Fortress Transportation and Infrastructure, LLC, a New York Stock Exchange listed company, from May 2015 to November 2022. Mr. Tuchman served as Vice Chairman of First Choice Bank in Lawrenceville, New Jersey from December 2008 to April 2015, and served as Chairman of First Choice Bank from April 2015 to December 2016. He served on the Board of Directors of Yardville National Bancorp from 2000 to 2007. He served on the Board of Directors of Horizon Lines, Inc. from November 2011 to May 2015 and on the Board of Directors of SeaCube Container Leasing Ltd., from March 2011 to April 2013. Mr. Tuchman holds a Bachelor of Science degree in Mechanical Engineering from the New Jersey Institute of Technology and a M.B.A. from Seton Hall University. Mr. Tuchman is 84 years old and joined our board of directors in September 2017. Mr. Tuchman is qualified to serve as a director due to his previous board experience, his experience as a bank director, his extensive business leadership experience and his ties to our market.

Except as described above with regard to Mr. Tuchman and FTAI Aviation, Ltd., no director of the Company is also a director of a company having a class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended, referred to as the “Exchange Act,” or subject to the requirements of Section 15(d) of such act, or any company registered as an investment company under the Investment Bank Act of 1940.

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Recommendation

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE FOR THE ELECTION OF EACH OF ITS NOMINEES TO THE BOARD OF DIRECTORS OF THE COMPANY, EACH TO SERVE UNTIL THE 2026 ANNUAL MEETING OF SHAREHOLDERS, AND UNTIL HIS OR HER SUCCESSOR IS ELECTED AND QUALIFIED.

MATTER NO. 2

ADVISORY VOTE TO APPROVE OUR NAMED EXECUTIVE OFFICER COMPENSATION

As required pursuant to Section 14A of the Exchange Act, we are asking our shareholders for a non-binding vote on the compensation of our named executive officers as described in this proxy statement. This proposal, commonly known as a “say-on-pay” proposal, gives our shareholders the opportunity to express their views on the compensation of our named executive officers. The current frequency of our shareholder advisory votes on executive compensation is every year. The next shareholder advisory vote will occur in 2026.

Even though this say-on-pay vote is advisory and therefore will not be binding on us, the members of our compensation committee and board of directors value the opinions of our shareholders. Accordingly, to the extent there is a significant vote against the compensation of our named executive officers, we will consider our shareholders’ concerns, and our compensation committee will evaluate what actions may be necessary or appropriate to address those concerns.

In deciding how to vote on this proposal, the board of directors urges you to consider the following factors:

Shareholders are urged to read the “Board of Directors and Committees–Compensation Processes and Procedures” and “Executive Officers and Compensation–Executive Compensation” sections of this proxy statement for greater detail about our executive compensation programs, including information about the fiscal year 2024 compensation of our named executive officers.

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We are asking our shareholders to indicate their support for our executive compensation program as described in this proxy statement by voting in favor of the following resolution:

“RESOLVED, that the compensation paid to the Company’s named executive officers, as disclosed in this proxy statement pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the compensation tables and narrative discussion, is hereby APPROVED.”

Recommendation

OUR BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE FOR THE PROPOSAL TO APPROVE, ON AN ADVISORY BASIS, THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS.

MATTER NO. 3

PROPOSAL TO RATIFY THE SELECTION OF WOLF & COMPANY, P.C. AS THE

COMPANY’S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR

ENDING DECEMBER 31, 2025

The Company’s independent registered public accounting firm for the year ended December 31, 2024 was Wolf & Company, P.C. (“Wolf & Company”). The audit committee has re-appointed Wolf & Company to continue as the independent registered public accounting firm for the Company for the year ending December 31, 2025. Shareholder ratification of the appointment of Wolf & Company is not required by the Company’s bylaws or otherwise. However, our board of directors is submitting the appointment of the independent registered public accounting firm to the shareholders for ratification as a matter of good corporate practice. If the shareholders fail to ratify the appointment of Wolf & Company, the Company’s audit committee will reconsider whether it should select another independent registered public accounting firm. Even if the selection is ratified, the Company’s audit committee, in its discretion, may direct the appointment of a different independent registered public accounting firm at any time during the year if it determines that such a change is in the best interests of the Company.

Representatives of Wolf & Company are expected to attend the annual meeting. They will be given an opportunity to make a statement if they desire to do so and will be available to respond to appropriate questions.

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Independent Registered Public Accounting Firm Fees

The following table presents the aggregate fees billed or expected to be billed by Wolf & Company for the fiscal years ended December 31, 2024 and 2023.

The audit committee’s charter includes a formal policy concerning the pre-approval of audit and non-audit services, including the fees and terms thereof, to be provided by the independent registered accounting firm of the Company, which are approved by the audit committee prior to the completion of the audit. The policy requires that all services to be performed by Wolf & Company, including audit services, audit-related services and permitted non-audit services, be pre-approved by the audit committee. The chairperson of the audit committee is authorized to execute any engagement letter or agreement with Wolf & Company for and on behalf of the Company, and to pre-approve audit and audit-related services between meetings of the audit committee, provided the chairperson reports any such approvals to the full audit committee at its next meeting. All services rendered by Wolf & Company are permissible under applicable laws and regulations, and the audit committee pre-approved all audit services performed by Wolf & Company during 2024.

Recommendation

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE FOR THE RATIFICATION OF WOLF & COMPANY AS THE COMPANY’S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE YEAR ENDING DECEMBER 31, 2025.

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BOARD OF DIRECTORS AND COMMITTEES

Director Independence

We determine the independence of the members of our board of directors and board committees by reference to the listing standards of The NASDAQ Stock Market LLC, or “NASDAQ.” Under the NASDAQ independence standards, all of our current directors and director nominees, other than Stephen Distler, Edward J. Dietzler, and Susan M. Barrett, have been determined to be independent, and all of the members of our audit committee, compensation/HR committee, and nomination committee have been determined to be independent.

Director Attendance at Meetings

Each of our directors takes his and her commitment to serve on the board of directors very seriously as demonstrated by the superior attendance achieved each year. During 2024, the board held 11 meetings, the Audit Committee held four meetings, the Compensation/HR Committee held six meetings, and the Nomination Committee held one meeting. Each current director attended at least 75% of the aggregate meetings of the board of directors and of the committees of which such director was a member.

Our board of directors believes it is important for all directors to attend the annual meeting of shareholders to show support for the Company and to provide an opportunity to interact with shareholders directly. Although we do not have a policy with respect to director attendance at our annual meeting of shareholders, all of our directors attended the Company’s 2024 Annual Meeting of shareholders either virtually or in person, except for Ms. Barrett who was not appointed to the Board until August 23, 2024.

Board Leadership Structure

The Company’s board of directors is made up of nine directors, six of whom have been determined to be independent. We have chosen to keep separate the roles of chairman of the board of directors and chief executive officer. The Company’s board is chaired by Richard J. Gillespie, an independent director. Edward J. Dietzler serves as the Company’s Chief Executive Officer and President. We believe that keeping separate the roles of chairman and chief executive officer is an effective means by which the board of directors is able to independently manage risk oversight.

Board Risk Oversight

The Company’s board of directors has designated standing audit, nomination and compensation/HR committees. Each committee of the Company oversees risk within its area of responsibility. For example, the audit committee oversees risks and exposures associated with financial matters, particularly financial reporting, tax, accounting, disclosure, internal control over financial reporting, financial policies, investment guidelines and credit and liquidity matters. Our board of directors oversees all identified material risks and is responsible for risk management. Our full board engages in discussions of risk management and receives any reports on risk from executive management, other Company officers, and from board committees, as appropriate.

Board of Director’s Role in Human Capital Management

Our board of directors believes that human capital management is an important component of our continued growth and success. Our board, through the compensation/HR committee, has regular involvement in talent retention and development and succession planning. The board has primary responsibility for chief executive officer succession planning and monitors management’s succession plans for other key executives. Our board believes that the establishment of a strong management team is the best way to prepare for an unanticipated executive departure.

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Board of Directors’ Committees

The board of directors maintains an audit committee, a compensation/HR committee, and a nomination committee, among other committees.

Audit Committee. The audit committee consists of Judith A. Giacin (chair), Robert N. Ridolfi, Martin Tuchman and Richard J. Gillespie. In addition to being independent under the NASDAQ independence standards, the board of directors has determined that each member of the audit committee is also “independent” for purposes of Section 10A(m)(3) of the Exchange Act. The audit committee was established for the purpose of overseeing the accounting and financial reporting processes of the Company and audits of the financial statements of the Company. The audit committee arranges for the Company’s examinations through its independent registered public accounting firm and third-party internal auditor, reviews and evaluates the recommendations of the examinations, receives all reports of examination of the Company by regulatory agencies, analyzes such reports, and reports to the Company’s board of directors the results of its analysis of the regulatory reports. The board of directors has determined that Judith A. Giacin is an “audit committee financial expert,” as defined in the regulations of the SEC.

Compensation/HR Committee. The compensation/HR committee consists of Richard J. Gillespie (chair), Judith A. Giacin, Martin Tuchman and Robert N. Ridolfi, each of whom has been determined by the board of directors to be “independent” within the meaning of the NASDAQ independence standards. The compensation/HR committee approves the compensation objectives for the Bank and establishes the compensation for the Chief Executive Officer and other named executive officers of the Bank. Our Chief Executive Officer makes recommendations to the compensation/HR committee from time to time regarding the appropriate mix and level of compensation for other executives. Those recommendations consider the objectives of our compensation philosophy and the range of compensation programs authorized by the compensation/HR committee and the board of directors. The compensation/HR committee reviews all compensation components for the Bank’s Chief Executive Officer and other named executive and senior officers. This includes base salary, short-term incentives, long-term incentives, non-qualified deferred compensation arrangements, and employment and change in control agreements. In addition to reviewing competitive market values, the compensation/HR committee also examines the total compensation mix, pay-for-performance relationship, and how all elements, in the aggregate, comprise the executive’s total compensation package. Decisions by the compensation/HR Committee with respect to the compensation of executive officers are approved by the full board of directors. In addition, the compensation/HR committee assists the board of directors in its oversight of human capital management through succession planning and employee retention initiatives.

Nomination Committee. The nomination committee consists of Ross Wishnick (chair), Richard J. Gillespie and Robert N. Ridolfi. The nomination committee meets to discuss and nominate members to the board of directors and to review the size of the board on an annual basis. The committee also reviews on an annual basis the criteria for director independence and determines which directors satisfy that criteria, periodically monitors and evaluates the orientation and training needs of the directors, oversees the Company’s corporate governance practices, and periodically conducts an evaluation of the composition, competence and performance of the board and reports the results of that evaluation to the board.

Each of these committees is governed by a charter. Copies of the applicable committee charters are available on the Company’s website at www.thebankofprinceton.com within the Investor Relations section.

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Audit Committee Report

In accordance with SEC regulations, the audit committee has prepared the following report. As part of its ongoing activities, the audit committee has:

Based upon its review and the considerations and discussions referenced above, the audit committee recommended to the board of directors that the Company’s audited consolidated financial statements be included in the Company’s annual report on Form 10-K for the year ended December 31, 2024.

Submitted by the Audit Committee:

Judith A. Giacin (chair)

Robert N. Ridolfi

Richard J. Gillespie

Martin Tuchman

March 12, 2025

Compensation Processes and Procedures

The compensation/HR committee is organized and conducts its business pursuant to a written charter adopted by the board of directors, along with a written compensation philosophy that is reviewed annually by the compensation/HR committee. A copy of the current charter of the compensation/HR committee is posted under the “Governance Documents” tab on the “Investor Relations” page of the Bank’s website at www.thebankofprinceton.com. At least annually, the compensation/HR Committee reviews and reassesses the adequacy of its charter and recommends any proposed changes to the full board of directors for approval as necessary. The compensation/HR Committee Charter requires the committee to oversee and administer the Company’s benefit plans and policies, as well as recommend to the board of directors the remuneration for our named executive officers and directors. Each year, the compensation/HR Committee reviews and evaluates the compensation of the directors and the total compensation package for the named executive officers. The evaluation performed by the compensation/HR Committee involves gathering relevant compensation and benefit information through market data and trends, as well as best practices in the banking industry. The compensation/HR Committee reports the results of its evaluation, along with compensation and benefit recommendations, to the board of directors, which makes the final determination on all compensation decisions regarding the directors and the named executive officers. The compensation/HR Committee also reviews aggregate salary and bonus budget information for non-executive employees.

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During 2024, when evaluating the competitiveness and effectiveness of the Company’s compensation program, the compensation/HR Committee considered compensation data generated by S&P Global Market Intelligence from financial institutions located in New Jersey, New York and Pennsylvania ranging in asset size from $2 billion to $4 billion. The market data included: base salary ranges, short-term and long-term equity and cash incentives and total executive compensation. In consideration of the individual performance of each named executive officer, their role and responsibilities at the Company and the peer compensation data reviewed, the compensation/HR Committee set 2024 base salaries for Messrs. Dietzler and O’Donnell and Ms. Adkins at $650,000, $540,000 and $304,500, respectively.

Based on the Company’s performance in 2024, and to further the Company’s long-term incentive program, our named executive officers were awarded restricted stock units in January 2025. The restricted stock units were awarded under the terms of the Company’s 2018 Equity Incentive Plan. The restricted stock unit awards (and related dividend equivalents) vest ratably over a three-year period. Dividend equivalents associated with any restricted stock unit award are not distributed until the underlying award vests. In the event an executive terminates employment for reasons other than death, all unvested restricted stock units will be forfeited. In the event of death, all unvested restricted stock units will vest. In the event of a change in control (as defined in the 2018 Equity Incentive Plan) all unvested restricted stock units will vest. See “– Summary Compensation Table” for the restricted stock unit awards granted to our named executive officers in 2024.

In 2024, the compensation/HR committee continued to structure the Company’s executive compensation program based on the following objectives set forth in the Company’s compensation philosophy:

The Company executed the compensation philosophy objectives in 2024 through five (5) core components:

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The compensation/HR committee reviews the Company’s compensation philosophy on an annual basis to ensure it supports a total compensation package for the named executive officers that is competitive with market practice while varying awards to recognize Company and individual performance. The objective is to provide competitive pay for achieving performance goals consistent with the Company’s business objectives and performance. The board of directors believes our compensation program, policies and procedures appropriately addresses our objectives in connection with compensation and benefits for our named executive officers.

The compensation/HR committee reviews peer data, best practices in the banking industry, management recommendations and employee retention risks in its efforts to create a compensation and benefit program that balances risk and reward and is consistent with the Bank’s business strategy.

The Company’s compensation programs are designed to ensure that employees, including the named executive officers, are not encouraged to take unnecessary risks in managing the business of the Company. This includes:

In addition, the compensation/HR committee periodically monitors the Company’s short-term and long-term incentive programs throughout the year to ensure that such programs do not encourage undue risk taking and appropriately balance risk and reward.

Nominations and Shareholder Communications

Shareholder Nomination Process. The board of directors will consider director candidates recommended by shareholders. Any shareholder who wishes to recommend a director candidate for consideration may send notice to Princeton Bancorp, Inc., 183 Bayard Lane, Princeton, New Jersey, 08540, Attention: Daniel O’Donnell, Executive Vice President, General Counsel and Chief Operating Officer. The notice should contain the information described in the section of this proxy statement titled “Shareholder Proposals.” The board of directors will endeavor to give director candidates recommended by shareholders the same consideration as director candidates recommended by other sources.

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Shareholder Communications. Any shareholder who desires to send communications to our board of directors or to individual directors may do so by directing his or her communication to the following address: Princeton Bancorp, Inc., 183 Bayard Lane, Princeton, New Jersey 08540, Attention: Daniel O’Donnell, Executive Vice President, General Counsel and Chief Operating Officer. All shareholder communications, other than any communications we believe may pose a security risk, will be sent directly to the board of directors or to individual directors, as addressed.

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SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table sets forth, as of March 7, 2025, the record date for the annual meeting, certain information concerning the ownership of our shares of common stock by (i) each person who is known by us to beneficially own more than five percent of the issued and outstanding shares, (ii) each of our directors and nominees, (iii) each named executive officer identified below in the section captioned “Executive Compensation,” and (iv) all directors and executive officers as a group.

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EXECUTIVE OFFICERS AND COMPENSATION

Executive Officers

The names of our executive officers and certain information about them are set forth below. Biographical information for Edward J. Dietzler, President and Chief Executive Officer, is included in the “Election of Directors” section above. Additional information regarding the compensation of certain of our executive officers, referred to as our “named executive officers,” is included under “Executive Compensation” following the officer biographies below.

Daniel J. O’Donnell, Esq., Executive Vice President, General Counsel and Chief Operating Officer. Mr. O’Donnell has served in his current position for the Company since its formation in 2022 and for the Bank since February 2019. Prior to that time, he served as Executive Vice President, General Counsel and Chief Risk Officer for five years. Mr. O’Donnell has over 20 years of experience in the financial services industry. Before joining The Bank of Princeton in February 2014, Mr. O’Donnell managed the Compliance Department at Cenlar FSB from September 2012 to January 2014 in his role as Assistant General Counsel. Prior to that, Mr. O’Donnell served from July 2009 to August 2012 as Chief Legal and Compliance Officer at First Bank, a community bank located in Hamilton Township, NJ. Prior to that, Mr. O’Donnell served from January 2001 to June 2008 as the Chief Legal Officer and Secretary of Yardville National Bank, a community bank located in Hamilton Township, NJ, where he oversaw the Legal, Compliance and Risk Departments of that bank. Mr. O’Donnell is actively involved in a number of community and charitable organizations in Mercer County, NJ, and serves on the boards of the 200 Club of Mercer County and the Friendly Sons & Daughters of St. Patrick of Mercer County. Mr. O’Donnell received a Bachelor of Business Administration in Accounting degree from the University of Notre Dame and a Juris Doctorate degree from St. John’s University School of Law. Mr. O’Donnell is 62 years of age.

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Stephanie Adkins, Executive Vice President and Chief Lending Officer. Ms. Adkins joined The Bank of Princeton in February 2009 as Vice President, Commercial Lender with 30 years of banking experience. She was promoted to her current position as Executive Vice President and Chief Lending Officer in February 2018. She is formerly of Peapack-Gladstone Bank, where she was also a Vice President, Commercial Lender. She is currently a member of the American Bankers Association’s Commercial Real Estate Committee. Ms. Adkins is a graduate of Douglass College at Rutgers University, where she earned a BA in Economics. Ms. Adkins is 68 years of age.

George S. Rapp, Executive Vice President and Chief Financial Officer. Mr. Rapp has served in his current position for the Company since its formation in 2022. Mr. Rapp was appointed as the Bank’s Executive Vice President and Chief Financial Officer in March 2017. From February 2013 to May 2016, Mr. Rapp served as Vice President and Chief Financial Officer of Shore Bancshares, Inc. in Easton, Maryland, a bank holding company and a reporting company under the Securities Exchange Act of 1934. From 2010 to 2012, Mr. Rapp served as the Chief Financial Officer and one of the four executive founders of World Currency USA in Marlton, New Jersey, a provider of foreign currency exchange services to financial institutions. From 2005 to 2010, he served as the Chief Financial Officer of Harleysville National Corporation, a regional banking corporation in Harleysville, Pennsylvania, where he managed all financial functions including controller, treasury and shareholder relations. Between 1980 and 2005, Mr. Rapp held a variety of roles with various financial institutions, including as Chief Financial Officer, Senior Vice President & Chief Accounting Officer, Chief Operations Officer and Controller. Mr. Rapp is 72 years of age.

Christopher Tonkovich, Executive Vice President and Chief Credit Officer. Mr. Tonkovich joined the Bank in 2012 as Senior Vice President and Credit and Workout Director. He became Executive Vice President and Chief Credit Officer on February 25, 2019. He has over 30 plus years’ experience in the banking industry which included managing teams of commercial lenders, workout staff, and leasing divisions and serving as liaison to internal and external audit groups. His prior experience includes Summit Bank, where he was formally credit trained and went on to lead a commercial lending group. He also spent 17 years at Santander Bank where he managed the workout, leasing and aviation groups. He received degrees in finance and economics from Mount Saint Mary’s University in 1986. He is a current member of Robert Morris Association and Turnaround Management Association. Mr. Tonkovich is 63 years of age.

Matthew T. Clark, Executive Vice President and Chief Information Officer. Mr. Clark joined the Bank in January 2018 as Vice President and IT Director. In January 2019 he was promoted to Senior Vice President, and he assumed his present position in April 2021. Mr. Clark has over 30 years’ experience in the financial services industry, beginning his career in 1989 in the field of computer systems and network technologies at Pifer Financial Systems. Mr. Clark joined Merrill Lynch in 2004 and served as an Assistant Vice President managing the helpdesk that provided global technical support for the company’s internal banking platform. In 2009, Mr. Clark joined Philadelphia-based Prudential Bank as IT Director. During his tenure there, Mr. Clark aided in expanding the bank’s footprint from seven locations to thirteen, including one acquisition. As the Bank’s Chief Information Officer, Mr. Clark now directs all technology, cybersecurity, and digital banking initiatives. He is 54 years of age.

Jeffrey T. Hanuscin, Senior Vice President, Treasurer and Chief Accounting Officer. Mr. Hanuscin has served in his current position since the formation of the Company in 2022. He joined the Bank in October 2017 as Vice President, Director of Finance and assumed his current position as the Bank’s Senior Vice President and Chief Accounting Officer in May 2019. From June 2013 to October 2017, Mr. Hanuscin served as First Vice President and Controller of Prudential Bancorp, Inc. in Philadelphia, Pennsylvania, a bank holding company and a reporting company under the Securities Exchange Act of 1934, where he was responsible for regulatory reporting and asset/liability management. From 2008 to

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2011, Mr. Hanuscin served as the Senior Vice President, Chief Financial Officer, and Treasurer for NOVA Bank in Berwyn, Pennsylvania, a privately held community bank. From 2004 to 2008, he served as the Chief Financial Officer and Treasurer of Royal Bancshares of Pennsylvania, Inc. in Narberth, Pennsylvania, a publicly traded bank holding company. From 2001 through 2004, Mr. Hanuscin served as that company’s Vice President and Controller. Mr. Hanuscin is 60 years of age.

Executive Compensation

Salary and other compensation types for our principal executive officer and our two most highly compensated executive officers other than our principal executive officer are presented in the table and narrative that follows. These executive officers are sometimes referred to as our “named executive officers.” Summary compensation information for the years ended December 31, 2024 and 2023 is set forth below.

Summary Compensation Table

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Employment and Other Agreements

Employment Agreements

The Bank maintains an employment agreement with each of Mr. Dietzler, Mr. O’Donnell and Ms. Adkins (each, an “Agreement”). Each Agreement provides the officer with an annual base salary, subject to discretionary increases by the Bank, and entitles him or her to participate in any officer benefit, incentive compensation plans and arrangements available to officers and executive officers of the Bank. The current 2025 base salaries for Messrs. Dietzler and O’Donnell and Ms. Adkins are $672,750, $558,900, and $313,635, respectively.

Under each Agreement, the officer’s employment may be terminated for specified events of Cause (as defined in the Agreement), in which case the parties’ obligations under the Agreement will cease. If the officer’s employment is terminated without Cause or if the officer terminates his or her employment for Good Reason (as defined in the Agreement) and there has not been a Change in Control, the Bank will pay the officer a cash severance payment. Under the terms of the Dietzler and O’Donnell employment agreements, the cash severance payment would be equal to the sum of two times: (i) the officer’s then base salary and (ii) the officer’s three-year average of his highest annual bonus paid (cash or stock) during the term of the Agreement. Under terms of the employment agreement with Ms. Adkins, the cash severance payment would be equal to her then current annual base salary. In addition to the cash payment, the Bank will provide the officer and his or her eligible dependents, at no cost, with continued health and medical benefits for eighteen months following termination of employment.

Under the Agreement, if within twenty-four months of a Change in Control the Bank or its successor terminates an officer’s employment for reasons other than Cause, or the officer terminates his or her employment for Good Reason, the Bank (or its successor) will pay Messrs. Dietzler and O’Donnell, a lump sum cash severance payment equal to the sum of three times: (i) the officer’s then base salary and (ii) the officer’s three year average of his highest annual bonus paid (cash or stock) during the term of the Agreement and Ms. Adkins will receive a Change in Control lump sum cash severance payment equal to two times her base salary. In addition to the cash payment, the Bank or its successor will pay to the officer a lump sum cash payment, less applicable withholdings, equal to the applicable premium cost for 18 months of continued Bank group health coverage for the officer and any spouse and dependents.

If during the term of the Agreement, the officer voluntarily terminates his or her employment without Good Reason, retires or dies, the obligations of the parties under the Agreement will cease, unless the officer dies or becomes disabled after providing notice of termination for Good Reason, in which case, the officer, or his or her estate, as the case may be, will be entitled to the amounts described above.

During his or her employment and for a period of six months after a termination of employment, each Agreement prohibits the officer from competing with the Bank, soliciting the Bank’s customers and borrowers, and soliciting or endeavor to entice away from the Bank certain types of Bank employees within any county in which the Bank has a branch or loan production office. The Dietzler and O’Donnell employment agreements each provide for the reduction of any Change in Control payments to the officer to the extent necessary so that he will not receive “excess parachute payments” under Section 280G of the Internal Revenue Code, which would result in the imposition of an excise tax under Section 4999 of the Internal Revenue Code, but only if, by reason of such reduction, the “net after-tax benefit” (as defined in the Agreement) to the officer will exceed the net after-tax benefit if such reduction were not made. Ms. Adkins’ employment agreement provides that the payments and benefits she will receive in the event of a Change in Control will be reduced to $1.00 less the value of three times her base amount as determined under Section 280G of the Internal Revenue Code (to the extent necessary to avoid excess parachute payments).

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Supplemental Executive Retirement Plan

The Bank maintains a SERP for the benefit of Mr. Dietzler and Mr. O’Donnell. The board of directors believes that Mr. Dietzler and Mr. O’Donnell are critical to the successful execution of the Bank’s strategic plan, and therefore the Bank implemented the SERP to both incentivize and retain these executives.

The SERP provides these executives with supplemental retirement income payable in the form of a life annuity. Upon separation of service upon the attainment of age 65, the annual retirement benefit for Messrs. Dietzler and O’Donnell is $120,728 and $67,037, respectively. SERP benefits vest ratably over a four-year period that commenced in 2021. The executives will also fully vest in their SERP benefits in the event of a “Change in Control” (as defined in the SERP) of the Bank. In the event an executive experiences a separation from service for “Cause” (as defined in the SERP), the executive will forfeit his entire SERP benefit, regardless of vesting. In the event an executive has a separation from service prior to full vesting for reasons other than Cause or a Change in Control, the executive will receive a benefit equal to the vested portion of his account balance in the SERP, which is the amount accrued by the Bank under generally accepted accounting principles as of such date (the “Account Balance”.) Vested benefits are distributed upon: (i) the executive’s death; or (ii) the later of the executive’s attainment of age 65 (normal retirement age) or separation from service. In the event an executive dies while in active service with the Bank, his beneficiary will receive a lump sum payment equal to his Account Balance in the SERP at the time of death. In the event an executive dies while in pay status but before receiving 180 monthly payments, his beneficiary will receive the remaining Account Balance. If an executive has already received 180 monthly payments at the time of his death, his beneficiary will not be entitled to a death benefit. The SERP also provides that in connection with a Change in Control, a rabbi trust will be formed and the annuity placed in the trust.

See “ – Summary Compensation Table – Change in Pension Value and Non-qualified Deferred Compensation Earnings” for aggregate change in the actuarial present value of the accumulated benefit.

Equity Incentive Plans

The Company’s 2018 Equity Incentive Plan (“2018 Plan”) is the foundation for the Company’s long-term incentive compensation program. The 2018 Plan expands the types of equity-based awards that may be granted to employees, directors, consultants, and other service providers. The 2018 Plan permits the board of directors to grant stock options, restricted stock awards and restricted stock units (“RSUs”). The shares subject to or related to options, restricted stock awards and restricted stock units under the 2018 Plan are authorized and unissued shares of our common stock. The maximum number of shares that may be issued upon the exercise of options or the grant of restricted stock awards or RSUs under the 2018 Plan is 328,910. If and to the extent awards granted under the 2018 Plan terminate, expire, cancel or are forfeited without being exercised and/or delivered, the shares subject to such awards will again be available for grant under the 2018 Equity Plan. The 2018 Plan gives the compensation/HR committee and the board of directors the authority to determine the vesting schedule and other conditions of any equity-based award granted under the 2018 Plan.

The Company’s long-term incentive program grants the named executive officers Restricted Stock Units based on the Company’s performance for the applicable fiscal year. All long-term incentive awards vest ratably over a three (3) year period. The value of each RSU grant is determined as a percentage of

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each named executive officer’s base salary. In addition, the Bank’s short-term incentive plan (Management Incentive Plan), provides the compensation/HR committee with the discretion to pay annual bonuses in cash or stock.

In addition to the 2018 Plan, the Company maintains additional equity plans that have equity awards outstanding; however no further awards maybe granted under such plans. See Note 15 - Stock-Based Compensation to our consolidated financial statements, which is included in the annual report accompanying this proxy statement, for additional information regarding our equity awards, including the approach and assumptions used to value these awards. All outstanding options under these plans, and all outstanding restricted stock awards and RSUs under the 2018 Plan, will become fully vested and exercisable upon a change in control of the Company.

Management Incentive Plan.

The Bank maintains the Management Incentive Plan to provide selected members of management, including our named executive officers with a short-term cash-based award in recognition for their collective and individual contributions to the success of the Bank. The plan focuses on performance measures that are critical to the Bank’s growth, profitability and maintenance of a strong capital position and provides each participant with various stated incentive opportunities as a percentage of base salary. The 2024 performance measures were: (1) tangible book value, excluding the Bank’s core deposit intangible, goodwill, treasury stock and accumulated other comprehensive income (50% weighting), (2) net loan funding (20% weighting), (3) qualitative measures (10% weighting) and (4) non-accrual loans plus other real estate owned, as a percentage of total assets (20% weighting). While the primary focus of the plan in 2024 was on the financial performance of the Company and its affiliates, the Management Incentive Plan also included a qualitative component. The qualitative component consisted of risk management, regulatory compliance and strategic initiatives. Management’s accomplishments in these areas were as follows:

See “– Summary Compensation Table” for the dollar amount of the 2024 Management Incentive Plan payouts to our named executive officers .

Employee Stock Ownership Plan

The Bank maintains The Bank of Princeton Employee Stock Ownership Plan (the “ESOP”) for eligible employees. The ESOP is a tax-qualified defined contribution plan invested primarily in employer securities. All employees of the Bank (or other participating employer), who are 21 years of age or older and have completed 1,000 hours of service during a six-month period, are eligible to participate in the ESOP. Eligible employees can begin participation in the ESOP on the entry date that coincides or

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immediately follows their satisfaction of the ESOP’s eligibility requirements. Annually, the board of directors, in its sole discretion, determines the amount of cash or Company stock contributed to the ESOP Trust. Cash contributed to the ESOP is used by the ESOP Trustee to purchase shares in the open market. The Company stock is then allocated to the accounts of active ESOP participants based on each active participant’s plan compensation as a percentage of total plan compensation as of December 31st of each plan year. ESOP participants vest in their account balances at a rate of 25% for each year of service in which a participant performs 1,000 hours of service. ESOP account balances become fully vested upon death, attainment of normal retirement age, termination of the ESOP or a change in control. In addition, all dividends (if any) paid on the Company stock held in the ESOP Trust are allocated to participant ESOP Accounts as earnings. All of the named executive officers participate in the ESOP. The amounts in the “Summary Compensation Table — All Other Compensation” include the value of the 2024 and 2023 ESOP allocations to our named executive officers.

401(k) Plan

We maintain a 401(k) plan for our employees to defer a portion of their compensation for retirement. Under the 401(k) plan, all employees are eligible to contribute the maximum allowed by the Internal Revenue Code. The board of directors, in its sole discretion, may authorize discretionary matching contributions in the 401(k) Plan. During the plan years ended December 31, 2024 and 2023, the board of directors authorized matching contributions under the 401(k) Plan. All of our named executive officers participate in the 401(k) Plan. The amounts in the “Summary Compensation Table — All Other Compensation” column include 2024 and 2023 employer matching contributions under the 401(k) Plan credited to our named executive officers.

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01—Richard Gillespie 04—Robert Ridolfi 07—Martin Tuchman 02—Stephen Distler 05—Judith Giacin 08—Susan Barrett 03—Ross Wishnick 06—Stephen Shueh 09—Edward Dietzler 1 U P X For Withhold For Withhold For Withhold A Proposals — The Board of Directors recommends a vote FOR all the nominees listed, FOR Proposals 2 and 3, and FOR a one-year frequency for Proposal 4. 043NDB 2. An advisory vote to approve named executive officer compensation; 3. A proposal to ratify the selection of Wolf & Company, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025; and 1. Election of nine directors to Princeton Bancorp, Inc.’s Board of Directors; For Against Abstain For Against Abstain Note: Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign in full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person. Date (mm/dd/yyyy) — Please print date below. Signature 1 — Please keep signature within the box. Signature 2 — Please keep signature within the box. B Authorized Signatures — This section must be completed for your vote to count. Please date and sign below. 4. A proposal to select, on an advisory basis, the frequency of future advisory votes on the compensation of named executive officers. 2025 Annual Meeting Proxy Card Using a black ink pen, mark your votes with an X as shown in this example. Please do not write outside the designated areas. ï± IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.ï± 1 Year 2 Years 3 Years Abstain You may vote online or by phone instead of mailing this card. Online Go to www.investorvote.com/BPRN or scan the QR code — login details are located in the shaded bar below. Your vote matters – here’s how to vote! Save paper, time and money! Sign up for electronic delivery at www.investorvote.com/BPRN Phone Call toll free 1-800-652-VOTE (8683) within the USA, US territories and Canada

Small steps make an impact. Help the environment by consenting to receive electronic delivery, sign up at www.investorvote.com/BPRN Annual Meeting of Shareholders April 22, 2025 Proxy Solicited by Board of Directors for Annual Meeting The undersigned hereby appoints Daniel J. O’Donnell, with full power of substitution, to vote, as designated below, all the shares of Princeton Bancorp, Inc. common stock held of record by the undersigned at the close of business on March 7, 2025, at the annual meeting of shareholders to be held on April 22, 2025, and at any and all adjournments or postponements thereof. The undersigned hereby revokes any and all earlier-dated proxies with respect to such annual meeting. This proxy, when properly executed, will be voted in the manner directed herein by the undersigned. If no direction is made, this proxy will be voted FOR the election of each of the board of directors’ director nominees and FOR the approval of proposals 2 and 3 being submitted to the shareholders at the annual meeting, and FOR a one-year frequency for proposal 4. The board of directors recommends a vote FOR each of its director nominees, FOR the approval of proposals 2 and 3, and FOR a one-year frequency for proposal 4. Should a director nominee be unable to serve as a director, an event Princeton Bancorp, Inc. does not currently anticipate, the person named in this proxy reserves the right, in his discretion, to vote for a substitute nominee designated by the board of directors. This proxy may be revoked by delivering to the Secretary of Princeton Bancorp, Inc., before the taking of the vote at the annual meeting, a written notice of revocation bearing a later date than the proxy or a later-dated proxy relating to the same shares of Princeton Bancorp, Inc. common stock, or by virtually attending the annual meeting via the Internet and voting online. Attendance at the annual meeting will not in itself constitute the revocation of a proxy. If this proxy is properly revoked as described above, then the power of the person named in this proxy shall be deemed terminated and of no further force and effect. The undersigned acknowledges receipt from Princeton Bancorp, Inc., prior to the execution of this proxy, of the Notice of Annual Meeting scheduled to be held on April 22, 2025, the related Proxy Statement, and Princeton Bancorp, Inc.’s 2024 Annual Report. PLEASE VOTE BY TELEPHONE OR THE INTERNET, OR COMPLETE, DATE, SIGN, AND MAIL THIS PROXY CARD PROMPTLY IN THE ENCLOSED, POSTAGE-PAID ENVELOPE (Continued, and to be marked, dated and signed, on the other side) REVOCABLE PROXY — PRINCETON BANCORP, INC. C Non-Voting Items ï± IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.ï± Change of Address — Please print new address below. Comments — Please print your comments below. The 2025 Annual Meeting of Shareholders of Princeton Bancorp, Inc. will be held on April 22nd, 2025 at 10:00AM EST, virtually via the Internet at meetnow.global/MMRWZPR. To access the virtual meeting, you must have the information that is printed in the shaded bar located on the reverse side of this form.

01—Richard Gillespie 04—Robert Ridolfi 07—Martin Tuchman 02—Stephen Distler 05—Judith Giacin 08—Susan Barrett 03—Ross Wishnick 06—Stephen Shueh 09—Edward Dietzler 1 U P X For Withhold For Withhold For Withhold A The Sample Company Proposals — The Board of Directors recommends a vote FOR all the nominees listed, FOR Proposals 2 and 3, and FOR a one-year frequency for Proposal 4. 043NDB 2. An advisory vote to approve named executive officer compensation; 3. A proposal to ratify the selection of Wolf & Company, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025; and 1. Election of nine directors to Princeton Bancorp, Inc.’s Board of Directors; For Against Abstain For Against Abstain Note: Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign in full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person. Date (mm/dd/yyyy) — Please print date below. Signature 1 — Please keep signature within the box. Signature 2 — Please keep signature within the box. B Authorized Signatures — This section must be completed for your vote to count. Please date and sign below. 4. A proposal to select, on an advisory basis, the frequency of future advisory votes on the compensation of named executive officers. 2025 Annual Meeting Proxy Card Using a black ink pen, mark your votes with an X as shown in this example. Please do not write outside the designated areas. ï± IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.ï± 1 Year 2 Years 3 Years Abstain MMMMMMMMMMMM MMMMMMMMM 1234 5678 9012 345 6 4 3 0 2 7 If no electronic voting, delete QR code and control # 000001 MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 ADD 5 ADD 6 ENDORSEMENT_LINE______________ SACKPACK_____________ MMMMMMMMMMMMMMM C123456789 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext 000000000.000000 ext MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE 140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND C 1234567890 J N T MMMMMMM You may vote online or by phone instead of mailing this card. Online Go to www.investorvote.com/BPRN or scan the QR code — login details are located in the shaded bar below. Your vote matters – here’s how to vote! Save paper, time and money! Sign up for electronic delivery at www.investorvote.com/BPRN Phone Call toll free 1-800-652-VOTE (8683) within the USA, US territories and Canada

Small steps make an impact. Help the environment by consenting to receive electronic delivery, sign up at www.investorvote.com/BPRN Annual Meeting of Shareholders April 22, 2025 Proxy Solicited by Board of Directors for Annual Meeting The undersigned hereby appoints Daniel J. O’Donnell, with full power of substitution, to vote, as designated below, all the shares of Princeton Bancorp, Inc. common stock held of record by the undersigned at the close of business on March 7, 2025, at the annual meeting of shareholders to be held on April 22, 2025, and at any and all adjournments or postponements thereof. The undersigned hereby revokes any and all earlier-dated proxies with respect to such annual meeting. This proxy, when properly executed, will be voted in the manner directed herein by the undersigned. If no direction is made, this proxy will be voted FOR the election of each of the board of directors’ director nominees and FOR the approval of proposals 2 and 3 being submitted to the shareholders at the annual meeting, and FOR a one-year frequency for proposal 4. The board of directors recommends a vote FOR each of its director nominees, FOR the approval of proposals 2 and 3, and FOR a one-year frequency for proposal 4. Should a director nominee be unable to serve as a director, an event Princeton Bancorp, Inc. does not currently anticipate, the person named in this proxy reserves the right, in his discretion, to vote for a substitute nominee designated by the board of directors. This proxy may be revoked by delivering to the Secretary of Princeton Bancorp, Inc., before the taking of the vote at the annual meeting, a written notice of revocation bearing a later date than the proxy or a later-dated proxy relating to the same shares of Princeton Bancorp, Inc. common stock, or by virtually attending the annual meeting via the Internet and voting online. Attendance at the annual meeting will not in itself constitute the revocation of a proxy. If this proxy is properly revoked as described above, then the power of the person named in this proxy shall be deemed terminated and of no further force and effect. The undersigned acknowledges receipt from Princeton Bancorp, Inc., prior to the execution of this proxy, of the Notice of Annual Meeting scheduled to be held on April 22, 2025, the related Proxy Statement, and Princeton Bancorp, Inc.’s 2024 Annual Report. PLEASE VOTE BY TELEPHONE OR THE INTERNET, OR COMPLETE, DATE, SIGN, AND MAIL THIS PROXY CARD PROMPTLY IN THE ENCLOSED, POSTAGE-PAID ENVELOPE (Continued, and to be marked, dated and signed, on the other side) REVOCABLE PROXY — PRINCETON BANCORP, INC. C Non-Voting Items ï± IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.ï± Change of Address — Please print new address below. Comments — Please print your comments below. The 2025 Annual Meeting of Shareholders of Princeton Bancorp, Inc. will be held on April 22nd, 2025 at 10:00AM EST, virtually via the Internet at meetnow.global/MMRWZPR. To access the virtual meeting, you must have the information that is printed in the shaded bar located on the reverse side of this form.

1 U P X 043NEB Note: Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign in full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person. Date (mm/dd/yyyy) — Please print date below. Signature 1 — Please keep signature within the box. Signature 2 — Please keep signature within the box. B Authorized Signatures — This section must be completed for your vote to count. Please date and sign below. 2025 Annual Meeting Proxy Card Using a black ink pen, mark your votes with an X as shown in this example. Please do not write outside the designated areas. ï± IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.ï± 01—Richard Gillespie 04—Robert Ridolfi 07—Martin Tuchman 02—Stephen Distler 05—Judith Giacin 08—Susan Barrett 03—Ross Wishnick 06—Stephen Shueh 09—Edward Dietzler For Withhold For Withhold For Withhold A Proposals — The Board of Directors recommends a vote FOR all the nominees listed, FOR Proposals 2 and 3, and FOR a one-year frequency for Proposal 4. 2. An advisory vote to approve named executive officer compensation; 3. A proposal to ratify the selection of Wolf & Company, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025; and 1. Election of nine directors to Princeton Bancorp, Inc.’s Board of Directors; For Against Abstain For Against Abstain 4. A proposal to select, on an advisory basis, the frequency of future advisory votes on the compensation of named executive officers. 1 Year 2 Years 3 Years Abstain

Annual Meeting of Shareholders April 22, 2025 Proxy Solicited by Board of Directors for Annual Meeting The undersigned hereby appoints Daniel J. O’Donnell, with full power of substitution, to vote, as designated below, all the shares of Princeton Bancorp, Inc. common stock held of record by the undersigned at the close of business on March 7, 2025, at the annual meeting of shareholders to be held on April 22, 2025, and at any and all adjournments or postponements thereof. The undersigned hereby revokes any and all earlier-dated proxies with respect to such annual meeting. This proxy, when properly executed, will be voted in the manner directed herein by the undersigned. If no direction is made, this proxy will be voted FOR the election of each of the board of directors’ director nominees and FOR the approval of proposals 2 and 3 being submitted to the shareholders at the annual meeting, and FOR a one-year frequency for proposal 4. The board of directors recommends a vote FOR each of its director nominees, FOR the approval of proposals 2 and 3, and FOR a one-year frequency for proposal 4. Should a director nominee be unable to serve as a director, an event Princeton Bancorp, Inc. does not currently anticipate, the person named in this proxy reserves the right, in his discretion, to vote for a substitute nominee designated by the board of directors. This proxy may be revoked by delivering to the Secretary of Princeton Bancorp, Inc., before the taking of the vote at the annual meeting, a written notice of revocation bearing a later date than the proxy or a later-dated proxy relating to the same shares of Princeton Bancorp, Inc. common stock, or by virtually attending the annual meeting via the Internet and voting online. Attendance at the annual meeting will not in itself constitute the revocation of a proxy. If this proxy is properly revoked as described above, then the power of the person named in this proxy shall be deemed terminated and of no further force and effect. The undersigned acknowledges receipt from Princeton Bancorp, Inc., prior to the execution of this proxy, of the Notice of Annual Meeting scheduled to be held on April 22, 2025, the related Proxy Statement, and Princeton Bancorp, Inc.’s 2024 Annual Report. PLEASE VOTE BY TELEPHONE OR THE INTERNET, OR COMPLETE, DATE, SIGN, AND MAIL THIS PROXY CARD PROMPTLY IN THE ENCLOSED, POSTAGE-PAID ENVELOPE (Continued, and to be marked, dated and signed, on the other side) REVOCABLE PROXY — PRINCETON BANCORP, INC. ï± IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.ï±

1 U P X The Sample Company 043NEB Note: Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please sign in full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in partnership name by authorized person. Date (mm/dd/yyyy) — Please print date below. Signature 1 — Please keep signature within the box. Signature 2 — Please keep signature within the box. B Authorized Signatures — This section must be completed for your vote to count. Please date and sign below. 2025 Annual Meeting Proxy Card Using a black ink pen, mark your votes with an X as shown in this example. Please do not write outside the designated areas. ï± IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.ï± 01—Richard Gillespie 04—Robert Ridolfi 07—Martin Tuchman 02—Stephen Distler 05—Judith Giacin 08—Susan Barrett 03—Ross Wishnick 06—Stephen Shueh 09—Edward Dietzler For Withhold For Withhold For Withhold A Proposals — The Board of Directors recommends a vote FOR all the nominees listed, FOR Proposals 2 and 3, and FOR a one-year frequency for Proposal 4. 2. An advisory vote to approve named executive officer compensation; 3. A proposal to ratify the selection of Wolf & Company, P.C. as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025; and 1. Election of nine directors to Princeton Bancorp, Inc.’s Board of Directors; For Against Abstain For Against Abstain 4. A proposal to select, on an advisory basis, the frequency of future advisory votes on the compensation of named executive officers. 1 Year 2 Years 3 Years Abstain MMMMMMMMMMMM MMMMMMMMM 6 4 3 0 2 7

Annual Meeting of Shareholders April 22, 2025 Proxy Solicited by Board of Directors for Annual Meeting The undersigned hereby appoints Daniel J. O’Donnell, with full power of substitution, to vote, as designated below, all the shares of Princeton Bancorp, Inc. common stock held of record by the undersigned at the close of business on March 7, 2025, at the annual meeting of shareholders to be held on April 22, 2025, and at any and all adjournments or postponements thereof. The undersigned hereby revokes any and all earlier-dated proxies with respect to such annual meeting. This proxy, when properly executed, will be voted in the manner directed herein by the undersigned. If no direction is made, this proxy will be voted FOR the election of each of the board of directors’ director nominees and FOR the approval of proposals 2 and 3 being submitted to the shareholders at the annual meeting, and FOR a one-year frequency for proposal 4. The board of directors recommends a vote FOR each of its director nominees, FOR the approval of proposals 2 and 3, and FOR a one-year frequency for proposal 4. Should a director nominee be unable to serve as a director, an event Princeton Bancorp, Inc. does not currently anticipate, the person named in this proxy reserves the right, in his discretion, to vote for a substitute nominee designated by the board of directors. This proxy may be revoked by delivering to the Secretary of Princeton Bancorp, Inc., before the taking of the vote at the annual meeting, a written notice of revocation bearing a later date than the proxy or a later-dated proxy relating to the same shares of Princeton Bancorp, Inc. common stock, or by virtually attending the annual meeting via the Internet and voting online. Attendance at the annual meeting will not in itself constitute the revocation of a proxy. If this proxy is properly revoked as described above, then the power of the person named in this proxy shall be deemed terminated and of no further force and effect. The undersigned acknowledges receipt from Princeton Bancorp, Inc., prior to the execution of this proxy, of the Notice of Annual Meeting scheduled to be held on April 22, 2025, the related Proxy Statement, and Princeton Bancorp, Inc.’s 2024 Annual Report. PLEASE VOTE BY TELEPHONE OR THE INTERNET, OR COMPLETE, DATE, SIGN, AND MAIL THIS PROXY CARD PROMPTLY IN THE ENCLOSED, POSTAGE-PAID ENVELOPE (Continued, and to be marked, dated and signed, on the other side) REVOCABLE PROXY — PRINCETON BANCORP, INC. ï± IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.ï±