PRINCETON, N.J. (AP) _ Bank of Princeton (BPRN) on Thursday reported second-quarter profit of $3.1 million.
The Princeton, New Jersey-based bank said it had earnings of 45 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The bank posted revenue of $16.2 million in the period. Its revenue net of interest expense was $12.9 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $11.7 million.
Bank of Princeton shares have decreased 42% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.32, a drop of 36% in the last 12 months.