Princeton Bancorp Acquires Cornerstone Financial Corporation
January 18, 2024
Princeton Bancorp, Inc., the parent of The Bank of Princeton, agreed to acquire Cornerstone Financial Corporation, the holding company of Cornerstone Bank, in a stock-and-cash merger valued at approximately $17.9 million. The deal, approved by both boards, will add Cornerstone’s ~ $321 million in assets and six branch locations to Princeton’s footprint in southern New Jersey and is expected to close in mid-2024 pending regulatory and shareholder approvals.
- Buyers
- Princeton Bancorp, Inc.
- Targets
- Cornerstone Financial Corporation
- Industry
- Financial Services
- Location
- New Jersey, United States
- Transaction Type
- Buyout
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