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Exhibit 99.1 For Immediate Release Contact George Rapp 609.454.0718 grapp@thebankofprinceton.com The Bank of Princeton Announces First Quarter 2021 Results Princeton , NJ , April 22 , 2021 / PRNewswire / - The Bank of Princeton ( the “ Bank ” ) ( NASDAQ - BPRN ) today reported its unaudited results of operations and financial condition for the quarter ended March 31 , 2021. The Bank reported net income of $ 4.9 million , or $ 0.70 per diluted common share , for the first quarter of 2021 , compared to net income of $ 4.1 million , or $ 0.60 per diluted common share , for the fourth quarter of 2020 , and net income of $ 3.0 million , or $ 0.44 per diluted common share , for the first quarter of 2020. The increase in net income , when compared to the three months ended December 31 , 2020 , was primarily due to a $ 1.2 million increase in net - interest income and a $ 525 thousand reduction in the provision for loan losses , partially offset by a $ 307 thousand decrease in non - interest income and a $ 349 thousand increase in non - interest expense . The increase in net income , when comparing it to the three months ended March 31 , 2020 , was primarily due to an increase in net - interest income of $ 4.3 million partially offset by a $ 475 thousand increase in the provision for loan losses , a $ 628 thousand decrease in non - interest income , and a $ 676 thousand increase in non - interest operating expenses . Highlights for the quarter - ended March 31 , 2021 are as follows : • ● • • • Total loans increased $ 94.2 million since December 31 , 2020 , to $ 1.5 billion or by 6.9 % . Net interest income for the first quarter of 2021 increased $ 4.3 million or 40.5 % over the same period in 2020 . The Bank decreased its cost of funds by 88 basis points in the first quarter 2021 from the same period 2020 . The Bank efficiency ratio decreased to 51.8 % for the first quarter 2021 compared to 64.3 % from the first quarter 2020 . The ratio of nonperforming loans to total loans continues to be low at 0.14 % as of March 31 , 2021 compared to 0.12 % at December 31 , 2020 and compared to 0.22 % at March 31 , 2020 . President / CEO Edward Dietzler stated that , “ The Bank started off the year very strong with a 17.5 % increase in earnings per share with both asset and deposit growth as well as our net interest margin increasing 35 basis points from the fourth quarter of 2020. " Chairman Richard Gillespie added , “ The Bank continues to outperform significantly even in the face of COVID- 19 challenges . Our profitability continues to be well positioned for the balance of 2021. " 4