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Exhibit 99.1 For Immediate Release Contact George Rapp 609.454.0718 grapp@thebankofprinceton.com The Bank of Princeton Announces Third Quarter 2021 Results Princeton , NJ , October 21 , 2021 / PRNewswire / - The Bank of Princeton ( the “ Bank ” ) ( NASDAQ – BPRN ) today reported its unaudited results of operations and financial condition for the quarter ended September 30 , 2021. The Bank reported net income of $ 5.9 million , or $ 0.88 per diluted common share , for the third quarter of 2021 , compared to net income of $ 5.5 million , or $ 0.80 per diluted common share , for the second quarter of 2021 , and net income of $ 3.5 million , or $ 0.52 per diluted common share , for the third quarter of 2020. The increase in net income , when compared to the three months ended June 30 , 2021 , was primarily due to a $ 376 thousand increase in net - interest income , a $ 300 thousand increase in non - interest income , and a $ 133 thousand reduction in non - interest expense , partially offset by a $ 200 thousand increase in the provision for loan losses and a $ 206 thousand increase in income tax expense . The increase in net income , when comparing it to the three months ended September 30 , 2020 , was primarily due to an increase in net - interest income of $ 3.3 million and a $ 42 thousand increase in non - interest income , partially offset by a $ 955 thousand increase in non - interest expense and a $ 765 thousand increase in income tax expenses . For the nine month period ended September 30 , 2021 , the Bank recorded net income of $ 16.3 million , or $ 2.38 per diluted common share , compared to $ 9.7 million , or $ 1.41 per diluted common share , for the same period in 2020 , primarily due to an $ 11.3 million increase in net - interest income and a $ 250 thousand reduction in the Bank's provision for loan losses , partially offset by an increase in income taxes of $ 2.3 million , a $ 2.3 million increase in non - interest expense , and a $ 437 thousand decrease in non - interest income . Highlights for the quarter - ended September 30 , 2021 are as follows : • The Bank continued its stock buyback program during the third quarter by purchasing an additional 73,259 shares of common stock at a weighted average price of $ 29.63 . . Net interest income for the third quarter of 2021 increased $ 3.3 million or 26.1 % over the same period in 2020 . • • • The Bank decreased its cost of funds on deposits by 37 basis points in the third quarter of 2021 from the same period in 2020 . The Bank's efficiency ratio decreased to 48.2 % for the third quarter of 2021 compared to 52.9- % for the third quarter of 2020 . The ratio of nonperforming loans to total loans continues to be low at 0.16 % as of September 30 , 2021 compared to 0.12 % at December 31 , 2020 and compared to 0.18 % at September 30 , 2020 . President / CEO Edward Dietzler stated that , “ The Bank this year has produced continuous increases in earnings with a 7.3 % improvement over the second quarter 2021 and 67.1 % when compared to the third quarter in 2020. " 4