The Bank of Princeton (NasdaqGS:BPRN) entered into a definitive agreement to acquire Noah Bank for approximately $25.4 million on October 19, 2022. The terms of the merger agreement has been approved by the boards of directors of both companies. The transaction is subject to receipt of all required banking regulatory approvals, shareholder approvals, Noah stockholder approval and certain financial and other contingencies. As of February 7, 2023, The Bank of Princeton has received regulatory approval in the deal. The transaction is expected to close in the second quarter of 2023. The transaction is expected to be accretive to The Bank of Princeton's earnings per share in the first year after the acquisition closes. Janney Montgomery Scott served as financial advisor to The Bank of Princeton. Stevens & Lee, P.C. is serving as legal counsel to the Bank. Piper Sandler & Co. served as financial advisor to Noah Bank and rendered a fairness opinion. Holland & Knight, LLP is serving as legal counsel to Noah Bank.

The Bank of Princeton (NasdaqGS:BPRN) acquired Noah Bank on May 19, 2023. Under the agreement, Noah merged with and into TBOP with TBOP surviving the merger under TBOP's charter and bylaws.