1st Colonial Bancorp, Inc.

2024
Annual Report

March 31, 2025
Dear Fellow Shareholders,
We are pleased to report another successful year for our company. We generated full year net
earnings of $8.1 million, which represents the second highest year in the company’s history.
Although we faced many challenges during the year, including higher operating costs due to
continued inflation, increased interest expense, and lower loan demand due to the higher interest rates, our
Team Members remained focused on delivering exceptional products and services to our loyal customer
base. In addition, we continue to focus on long range planning and expansion opportunities, while
navigating through continued economic uncertainties.
We continue to be focused on building relationships with new clients, as well as expanding and
deepening existing relationships through the delivery of value added products and services. Investment in
technology continued, so we can remain competitive in delivering the most modern product offering
available to the market. The use of artificial intelligence in our business is expected to increase, as we
strive to deliver a better customer experience, coupled with improved efficiency and scalability.
Asset growth was tempered during the year, with loan balances remaining stable when compared
to 2023. We remained focused on profitability and shareholder returns, delivering a return on average assets
of 1.00%, and return on average equity of 11.10%.
Total deposits ended the year at $747.7 million, which represents a 7% increase from the 2023
balance. Our liquidity position remains strong, with ample cash and borrowing capacity to support our
future growth.
Our capital levels remain high and above well capitalized under the regulatory framework.
Asset quality metrics continue to be stable, with no pattern of deterioration being identified. It is
likely that increased debt and living expenses, along with an anticipated increase in unemployment will
have an impact on consumers, which we will continue to closely monitor.
While we believe our foundation is strong, our 2025 plan calls for additional investment in talent
and technology, so that we can exceed our clients’ expectations and continue to differentiate ourselves from
the competition.
We are thankful for your continued support and look forward to a promising and profitable 2025!
Sincerely,
Linda M. Rohrer
Robert B. White
Chairman of the Board
President & Chief Executive Officer

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Consolidated Financial Statements
December 31, 2024 and 2023
(With Independent Auditors’ Report Thereon)

Crowe LLP
Independent Member Crowe Global
INDEPENDENT AUDITORS’ REPORT
Shareholders and the Board of Directors
1st Colonial Bancorp, Inc. and Subsidiary
Mount Laurel, New Jersey
Opinion
We have audited the consolidated financial statements of 1st Colonial Bancorp, Inc. and Subsidiary, which
comprise the consolidated balance sheets as of December 31, 2024 and 2023, and the related consolidated
statements of income, comprehensive income, changes in shareholders’ equity, and cash flows for
the years then ended, and the related notes to the financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects,
the financial position of 1st Colonial Bancorp, Inc. as of December 31, 2024 and 2023, and the results of
its operations and its cash flows for the years then ended in accordance with accounting principles
generally accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States
of America
(GAAS).
Our
responsibilities
under
those
standards
are
further
described
in
the
Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are
required to be independent of 1st Colonial Bancorp, Inc. and to meet our other ethical responsibilities, in
accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated financial
statements in accordance with accounting principles generally accepted in the United States of America,
and for the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of consolidated financial statements that are free from material misstatement, whether due to
fraud or error.
In preparing the consolidated financial statements, management is required to evaluate whether there are
conditions or events, considered in the aggregate, that raise substantial doubt about 1st Colonial Bancorp,
Inc.’s ability to continue as a going concern for one year from the date the consolidated financial statements
are available to be issued.
(Continued)

2
Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as
a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report
that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance
and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a
material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud
is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control. Misstatements are considered material if there is a
substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a
reasonable user based on the consolidated financial statements.
In performing an audit in accordance with GAAS, we:
•
Exercise professional judgment and maintain professional skepticism throughout the audit.
•
Identify and assess the risks of material misstatement of the consolidated financial statements, whether
due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures
includeexamining, on a test basis, evidence regarding the amounts and disclosures in the consolidated
financial statements.
•
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that
are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness
of 1st Colonial Bancorp, Inc. and Subsidiary’s internal control. Accordingly, no such opinion is expressed.
•
Evaluate the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluate the overall presentation of the
consolidated financial statements.
•
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that
raise substantial doubt about 1st Colonial Bancorp, Inc.’s ability to continue as a going concern for a
reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit, significant audit findings, and certain internal control–related matters
that we identified during the audit.
Crowe LLP
Washington, D.C.
March 28, 2025

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
3
Consolidated Balance Sheets
2024
2023
Assets
Cash and due from banks
67,380
$
52,707
$
Federal funds sold
19
21
Total cash and cash equivalents
67,399
52,728
Investments held to maturity (fair value of $45,036 as of December 31, 2024
and $37,045 as of December 31, 2023)
45,036
37,045
Investments available for sale ("AFS") (amortized cost of $77,891 as of
December 31, 2024 and $76,746 as of December 31, 2023)
73,614
70,532
Investment in restricted bank stock, at cost
1,465
1,457
Loans held for sale
6,273
3,619
Loans
622,455
637,037
Less allowance for credit losses
(8,954)
(9,690)
Net loans
613,501
627,347
Premises and equipment, net
1,450
1,770
Accrued interest receivable
3,434
3,431
Deferred tax assets
3,185
3,714
Bank-owned life insurance
21,502
17,894
Other real estate owned ("OREO")
258
-
Other assets
4,428
6,107
Total assets
841,545
$
825,644
$
Liabilities and Shareholders’ Equity
Liabilities:
Deposits
747,656
$
687,444
$
Subordinated debt, net of issuance costs
10,702
10,631
Other borrowings
-
53,600
Accrued interest payable
549
668
Other liabilities
4,420
5,378
Total liabilities
763,327
757,721
Shareholders’ equity:
Preferred stock. Authorized 1,000,000 shares, no shares issued
-
-
Common stock, $0 par value. Authorized 10,000,000 shares; issued
5,301,551 and 5,221,096 shares as of December 31, 2024 and
December 31, 2023, respectively, and outstanding of 4,827,934 and
4,747,479 shares as of December 31, 2024 and December 31, 2023, respectively
-
-
Additional paid-in capital
40,106
39,294
Retained earnings
45,483
37,426
Accumulated other comprehensive loss
(3,123)
(4,549)
Treasury stock at cost, 473,617 shares as of December 31, 2024
and December 31, 2023
(4,248)
(4,248)
Total shareholders’ equity
78,218
67,923
Total liabilities and shareholders’ equity
841,545
$
825,644
$
(Dollars in thousands, except share data)
As of December 31,
See accompanying notes to consolidated financial statements.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
4
Consolidated Statements of Income
For the years ended December 31,
(Dollars in thousands, except share data)
2024
2023
Interest income:
Loans
37,751
$
36,010
$
Federal funds sold and interest-bearing deposits
1,329
702
Investments:
Taxable
1,770
1,623
Nontaxable
1,558
986
Total interest income
42,408
39,321
Interest expense:
Deposits
15,867
11,025
Subordinated debt
824
824
Other borrowings
706
1,122
Total interest expense
17,397
12,971
Net interest income
25,011
26,350
(Release of) provision for credit losses
(244)
270
Net interest income after provision for credit losses
25,255
26,080
Other income:
Gain on sales of mortgage loans held for sale
1,532
667
Gain on sale of guaranteed portion of SBA loans
345
479
Mortgage fee income
718
510
Bank-owned life insurance income
608
527
Service charges on deposit accounts
106
103
Gain on sales of portfolio loans
35
72
Other income and fees
432
431
Total other income
3,776
2,789
Other expenses:
Compensation and employee benefits
11,343
11,314
Data processing expense
2,060
2,024
Occupancy and equipment expenses
1,362
1,342
Professional services
862
894
Loan expenses
614
701
FDIC and state assessments
403
511
Marketing expenses
340
388
Other operating expenses
1,842
1,781
Total other expenses
18,826
18,955
Income before income tax expense
10,205
9,914
Income tax expense
2,148
2,483
Net income
8,057
$
7,431
$
Earnings per share:
Basic earnings per share
1.69
$
1.58
$
Diluted earnings per share
1.64
$
1.54
$
Weighted average number of shares outstanding:
Basic earnings per share
4,775,006
4,705,189
Diluted earnings per share
4,914,908
4,827,793
See accompanying notes to consolidated financial statements.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
5
Consolidated Statements of Comprehensive Income
2024
2023
Before
Net of
Before
Net of
tax
Tax
tax
tax
Tax
tax
(In thousands)
amount
expense
amount
amount
expense
amount
Net income
10,205
$
2,148
$
8,057
$
9,914
$
2,483
$
7,431
$
Other comprehensive income:
Net unrealized gain on AFS investment securities:
Net unrealized holding gain arising during the
period
1,937
511
1,426
1,929
588
1,341
Total net unrealized gain on AFS investment
securities
1,937
511
1,426
1,929
588
1,341
Other comprehensive income
1,937
511
1,426
1,929
588
1,341
Total comprehensive income
12,142
$
2,659
$
9,483
$
11,843
$
3,071
$
8,772
$
For the years ended December 31,
See accompanying notes to consolidated financial statements.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
6
Consolidated Statements of Changes in Shareholders’ Equity
For the years ended December 31, 2024 and 2023
Accumulated
Additional
other
Total
paid-in
Retained
comprehensive
Treasury
shareholders’
(In thousands)
capital
earnings
income (loss)
stock
equity
Balance at December 31, 2022
38,619
$
31,149
$
(5,890)
$
(4,240)
$
59,638
$
Cumulative change in accounting principle
for the adoption of ASC 326*
(1,154)
(1,154)
Balance as of January 1, 2023
38,619
29,995
(5,890)
(4,240)
58,484
Stock issued
306
306
Purchase of treasury stock (640 shares)
(8)
(8)
Net unrealized gain on securities
available for sale, net of tax
1,341
1,341
Stock-based compensation
369
369
Net income
7,431
7,431
Balance as of December 31, 2023
39,294
37,426
(4,549)
(4,248)
67,923
Stock issued
321
321
Net unrealized gain on securities
available for sale, net of tax
1,426
1,426
Stock-based compensation
491
491
Net income
8,057
8,057
Balance as of December 31, 2024
40,106
$
45,483
$
(3,123)
$
(4,248)
$
78,218
$
*See Note 2 Summary of Significant Accounting Policies
See accompanying notes to consolidated financial statements.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
7
Consolidated Statements of Cash Flows
For the years ended December 31, 2024 and 2023
(In thousands)
2024
2023
Cash flows from operating activities:
Net income
8,057
$
7,431
$
Adjustments to reconcile net income to net cash provided by (used in)
operating activities:
Depreciation and amortization
455
487
Net amortization of premium on investment securities
83
114
Net accretion of deferred fees and costs on loans
(840)
(656)
Amortization of issuance costs on long-term debt
71
72
Stock-based compensation expense
491
369
Gain on sales of mortgage loans held for sale
(1,532)
(667)
Gain on sales of guaranteed portion of SBA loans
(345)
(479)
(Release of) provision for credit losses
(244)
270
Cash disbursed for mortgage banking activities
(102,694)
(58,329)
Cash received for mortgage banking activities
101,572
62,087
Proceeds from sales of portfolio loans
19,665
15,668
Gains on sales of portfolio loans
(35)
(72)
Net gain on disposals of premises and equipment
-
(6)
Increase in cash value of bank-owned life insurance, net
(608)
(527)
(Increase) decrease in deferred income tax benefit
(19)
41
Changes in assets and liabilities:
Increase in accrued interest receivable
(3)
(652)
Decrease (increase) in other assets
1,716
(2,073)
(Decrease) increase in accrued interest payable
(119)
263
Decrease in other liabilities
(958)
(142)
Total adjustments
16,656
15,768
Net cash provided by operating activities
24,713
23,199
Cash flows from investing activities:
Proceeds from maturities and calls of AFS investment securities
15,000
15,000
Proceeds from principal repayment of AFS investment securities
6,239
7,300
Proceeds from maturities of securities held to maturity
36,012
36,602
Purchases of securities available for sale
(22,467)
-
Purchases of securities held to maturity
(44,003)
(35,533)
(Purchase) redemption of restricted bank stock
(8)
1,437
Increase in loans receivable, net
(4,613)
(47,952)
Proceeds from the sale of premises and equipment
-
11
Capital expenditures
(135)
(417)
Proceeds from bank owned life insurance policies
-
1,181
Purchase of life insurance policies
(3,000)
(4,000)
Net cash used in investing activities
(16,975)
(26,371)

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
8
Consolidated Statements of Cash Flows - Continued
For the years ended December 31, 2024 and 2023
2024
2023
Cash flows from financing activities:
Net increase in deposits
60,212
16,391
Net (decrease) increase in short-term borrowings
(53,600)
18,812
Acquisition of treasury stock
-
(8)
Proceeds from exercise of stock options
321
306
Net cash provided by financing activities
6,933
35,501
Net (decrease) increase in cash and cash equivalents
14,671
32,329
Cash and cash equivalents at beginning of year
52,728
20,399
Cash and cash equivalents at end of year
67,399
$
52,728
$
Supplemental disclosures:
Cash paid during the year for:
Interest
17,516
$
12,708
$
Income taxes paid
2,280
3,025
Noncash items:
Loan transfer to real estate owned
258
-
Transfer from loans held for investment to loans held for sale
19,285
15,117
See accompanying notes to the consolidated financial statements.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
9
Note 1. Nature of Operations
1st Colonial Bancorp, Inc. (the “Company”, “We” or “Our”) is a Pennsylvania corporation headquartered in Mount
Laurel, New Jersey, and the parent company of 1st Colonial Community Bank (the “Bank”). The Bank opened for
business on June 30, 2000 and provides a wide range of business and consumer financial products and services through
its two New Jersey branch offices located in Collingswood and Westville and its location in Limerick, Pennsylvania.
The Company was organized as the holding company for the Bank, in connection with the reorganization approved
by the Bank’s shareholders at the annual meeting on June 12, 2002. As a bank holding company registered under the
Bank Holding Company Act of 1956, the Company is subject to the supervision and regulation of the Board of
Governors of the Federal Reserve System (the “FRB”). The Bank was a national bank until November 1, 2012 when
it was granted a state charter by the New Jersey Department of Banking and Insurance. The Bank’s deposits are insured
by the Federal Deposit Insurance Corporation (“FDIC”). The Company’s operations and those of the Bank are subject
to supervision and regulation by FRB, the FDIC, and the New Jersey Department of Banking and Insurance. The
principal activity of the Bank is to provide its local communities with general commercial and retail banking services.
The Bank is managed as one business segment.
Subsequent Events
The Company has evaluated subsequent events for recognition and disclosure through March 26, 2025, which is the
date the financial statements were available to be issued. On January 24, 2025, the Company announced that it has
adopted a stock repurchase program, effective January 30, 2025. Under the stock repurchase program, management
is authorized to repurchase up to 3% of the Company’s outstanding shares of common stock, with a total cost not to
exceed $2.0 million.
Note 2.
Summary of Significant Accounting Policies
Basis of Presentation
The accompanying consolidated financial statements include the accounts of the parent company, 1st Colonial
Bancorp, Inc. and its wholly owned subsidiary, 1st Colonial Community Bank. The accounting and reporting policies
of the Company conform to U.S. generally accepted accounting principles (“GAAP”) and, where applicable, to
accounting and reporting guidelines prescribed by bank regulatory authorities. Prior period amounts have been
reclassified, where necessary, to conform to current year classification.
Use of Estimates
The preparation of consolidated financial statements in conformity with GAAP requires management to make
estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses
during the reporting period. Actual results could differ from those estimates.
Significant Concentration of Credit Risk
Credit risk is one of our most significant risks. It is critical for consistent profitability that we effectively manage credit
risk. Most of the Company’s activities are with customers located within the Mid-Atlantic region of the country. “Note
4 – Investment Securities” to the Consolidated Financial Statements discusses the types of securities in which the
Company invests. “Note 5 – Loans Receivable” to the Consolidated Financial Statements discusses the types of
lending in which we engage. We do not have any portion of our business dependent on a single or limited number of
customers, the loss of which would have a material adverse effect on our business. We have 90% of our investment
portfolio in securities issued by government sponsored entities.
No substantial portion of loans is concentrated within a single industry or group of related industries, except a
significant majority of loans are secured by real estate. There are numerous risks associated with commercial and
consumer lending that could impact the borrower’s ability to repay on a timely basis. They include but are not limited

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
10
to: the owner’s business expertise, changes in local, national, and in some cases international economies, competition,
government regulation, and the general financial stability of the borrowing entity. Our commercial real estate,
construction and land development, and commercial and industrial loans comprised 27%, 5% and 7%, respectively,
of the loan portfolio.
We attempt to mitigate these risks through our underwriting policies and procedures which include an analysis of the
borrower’s business and industry history, its financial position, as well as that of the business owner. We will also
require the borrower to provide current financial information on the operation of the business periodically over the
life of the loan. In addition, most commercial loans are secured by assets of the business or those of the business
owner, which can be liquidated if the borrower defaults, along with the personal surety of the business owner.
Cash and Cash Equivalents
For purposes of reporting cash flows, cash and cash equivalents include cash, deposits with other financial institutions
with maturities fewer than 90 days, and federal funds sold. Net cash flows are reported for customer loan and deposit
transactions, interest bearing deposits in other financial institutions, and federal funds purchased and repurchase
agreements.
Investments
Debt securities that management has the positive intent and ability to hold until maturity are classified as held to
maturity (“HTM”) and are carried at their remaining unpaid principal balance, net of unamortized premiums or
unaccreted discounts. Securities not classified as held to maturity are classified as available-for-sale (“AFS”) and are
stated at fair value, with unrealized gains and losses reported in accumulated other comprehensive income (loss), net
of tax.
Premiums are amortized and discounts are accreted to interest income using a level yield method over the estimated
remaining term of the underlying security. Gains and losses are determined using the specific identification method
and are accounted for on a trade date basis.
On January 1, 2023, we adopted Accounting Standards Update No. 2016-13, “Financial Instruments-Credit Losses
(Topic 326) Measurement of Credit Losses on Financial Instruments” (“CECL”) issued by the Financial Accounting
Standards Board (“FASB”). Under CECL expected credit losses on both HTM and AFS securities are to be recognized
through a valuation allowance to the Allowance for Credit Losses (“ACL), instead of a direct write-down to the
amortized cost basis of the security.
HTM securities: Approximately 99% of our HTM securities portfolio is comprised of municipal bond anticipation
notes (“BANs”) that are payable ultimately from ad valorem taxes to be levied upon all the taxable real property within
the municipality issuing the BAN and have a maturity date of one year or less. As of December 31, 2024 and 2023,
no HTM debt securities required an ACL.
AFS securities: For AFS debt securities in an unrealized loss position we first assess whether we intend to sell, or it is
more likely than not that we will be required to sell the security before recovery of its amortized cost basis. If either
of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair
value through income. For AFS debt securities that do not meet the aforementioned criteria, we evaluate whether the
decline in fair value has resulted form credit losses or other factors. We will record the portion of the impairment
related to credit losses (if any) in the ACL with an offsetting entry to the Provision for credit losses of our Consolidated
Statements of Income. Any portion of the impairment not related to credit losses is recorded through other
comprehensive income (“OCI”).
We evaluate declines in the fair value of securities at least on a quarterly basis. The evaluation is a quantitative and
subjective process. Management considers numerous factors, including but not limited to: (1) the extent to which the
fair value is less than the amortized cost, (2) our intent to hold or sell the security, (3) the financial condition and

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
11
results of the issuer including changes in capital, (4) the credit rating of the issuer, (5) industry trends specific to the
security, and (6) timing of debt maturity and status of debt payments.
In determining our intent not to sell and whether it is more likely than not that we will be required to sell the
investments before recovery of their amortized cost basis, we consider the following factors: current liquidity and
availability of other non-pledged assets that permits the investment to be held for an extended period of time but not
necessarily until maturity, capital planning, and any specific asset liability committee goals or guidelines related to
the disposition of specific investments.
Restricted Bank Stock
The Bank is a member of the Federal Home Loan Bank (“FHLB”) system. The Bank is required to acquire and hold
shares of capital stock in the FHLB based upon a percentage of the Bank’s FHLB borrowings, unused borrowing
capacity, and the amount of residential first mortgage loans sold to the FHLB. The FHLB stock is carried at cost and
is included in bank stock in the Consolidated Balance Sheets. The Bank evaluates FHLB stock for impairment based
on the ultimate recoverability of par value rather than by recognizing temporary declines in value.
The Bank is required to maintain an investment in Atlantic Community Bankers Bank (“ACBB”) stock. The ACBB
stock is carried at cost because it does not have a readily determinable fair value. The Bank had $40 thousand in ACBB
stock as of December 31, 2024 and 2023, respectively.
Mortgage Loans Held for Sale
We originate and sell residential mortgage loans with servicing released to the secondary market. This activity enables
us to fulfill the credit needs of the community while reducing its overall exposure to interest rate and credit risk. These
loans are reported at fair market value.
Loans Receivable
Loans receivable are classified as loans held for investment (“LHFI”) when management has the intent and ability to
hold the loan or lease for the foreseeable future or until maturity or payoff. LHFI are stated at their outstanding unpaid
principal balances, net of an allowance for credit losses and any deferred fees or costs. Interest income is accrued on
the principal amount outstanding. Loan origination fees and related direct costs are deferred and amortized to interest
income over the term of the respective loan as a yield adjustment.
LHFI are segmented into commercial real estate loans, construction and development loans, commercial loans,
residential loans, and consumer loans. The commercial real estate loan segment consists of owner-occupied and non-
owner occupied commercial real estate loans and multi-family real estate loans. The construction and development
loan segment consists of residential and commercial acquisition and development loans. Commercial loans, which are
also generally known as commercial and industrial loans, include permanent and short-term working capital and
machinery or equipment financing. The residential loan segment consists of primary or secondary home mortgage
loans, home equity lines of credit, and home equity loans.
Commercial Real Estate Loans: The commercial real estate loan portfolio consists primarily of loans secured by office
buildings, retail and industrial use buildings, strip shopping centers, mixed-use and other properties used for
commercial purposes primarily located in our market area. Although terms for commercial real estate and multi-family
loans vary, the underwriting standards generally allow for terms up to 10 years with the interest rate being reset in the
sixth year and with monthly amortization not greater than 25 years and loan-to-value ratios of not more than 80%.
Interest rates are either fixed or adjustable and are predominantly based upon the prime rate or the five-year U.S.
Treasury rate plus a margin. Prepayment fees are charged on most loans in the event of early repayment. Generally,
the personal guarantees of the principals are obtained as additional collateral for commercial real estate and multi-
family real estate loans.
Construction and Development Loans: We originate construction loans to builders and developers predominantly in
our market area. Construction and development loans are riskier than other loan types because they are more

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
12
speculative in nature. Deteriorating economic or environmental conditions can negatively affect a project.
Construction loans are also more difficult to evaluate and monitor. In order to mitigate some of the risks inherent in
construction lending, limits are placed on the number of units that can be built on a speculative basis based upon the
reputation and financial position of the builder, his/her present obligations, the location of the property and prior sales
in the development and the surrounding area. Additionally, the construction budget is reviewed prior to loan
origination and the properties under construction are inspected. During the construction phase of a real estate project,
the loan requires interest payments only.
Commercial: Our commercial business loans generally have been made to small to mid-sized businesses
predominantly located in our market area. The commercial business loans are either a revolving line of credit or for a
fixed term. Interest rates are adjustable, indexed to a published prime rate of interest, or fixed. Generally, equipment,
machinery, real property or other corporate assets secure such loans. Personal guarantees from the business principals
are generally obtained as additional collateral.
Residential Loans: We originate residential mortgage loans that we retain in our loan portfolio to diversify credit risk.
We have also acquired residential mortgages through pool purchases. The mortgages we originate or acquire are
secured primarily by properties located in our primary market and surrounding areas. We originate home equity loans
and home equity lines of credit in our market area. The collateral must be the borrower’s primary or secondary
residence. Home equity lines of credit are variable rate and are indexed to the prime rate. Our home equity loans are
either first or second liens and have a fixed rate. We have originated some home equity lines of credit or home equity
loans for investment homes. Residential loans also include business loans secured by primary liens on one-to four
family real estate collateral.
Consumer Loans: We originate cash-secured and unsecured loans and lines of credit to individuals. Unsecured
consumer loans generally have a higher interest rate than residential loans because they have additional credit risk
associated with them.
Loans are reported as nonaccrual if they are past due as to principal or interest payments for a period of 90 days or
more. Exceptions may be made if a loan is deemed by management to be well collateralized and in the process of
collection. Loans that are on a current payment status may also be classified as nonaccrual if there is serious doubt as
to the borrower’s ability to continue interest or principal payments. All nonaccrual loans are considered nonperforming
loans. When a loan is placed on non-accrual all unpaid interest is reversed from interest income. Interest payments
received on nonaccrual loans are normally applied against principal. Excess proceeds received over the principal
amounts due on non-accrual loans are recognized as income on a cash basis. We recognize income under the accrual
basis when the principal payments on the loans become current and the collateral on the loan is sufficient to cover the
outstanding obligation to the Company. If these factors do not exist, we do not recognize income. Generally, loans
are restored to accrual status when the loan is brought current, has performed in accordance with the contractual terms
for a reasonable period of time (generally six months) and the ultimate collectability of the total contractual principal
and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on
contractual due dates for loan payments.
Allowance for Credit Losses
CECL Adoption
On January 1, 2023, we adopted ASU 2016-13, Financial Instruments - Credit Losses (“ASC Topic 326”):
Measurement of Credit Losses on Financial Instruments, as amended, which replaces the incurred loss methodology
with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The
measurement of expected credit losses under CECL is applicable to financial assets measured at amortized cost,
including loan receivables and HTM debt securities. It also applies to off-balance sheet (“OBS”) credit exposures,
such as loan commitments, standby letters of credit, financial guarantees, and other similar instruments.
The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized
cost basis and OBS credit exposures. We recorded a net increase of $1.6 million to the ACL on January 1, 2023 as

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
13
result of the adoption of CECL. Retained earnings decreased $1.2 and deferred tax assets increased by $434 thousand.
Included in the $1.6 million increase to the ACL was $436 thousand for certain OBS credit exposures.
The following table illustrates the impact of ASC 326.
As reported
Impact of
Under
Pre-ASC 326
ASC 326
(In thousands)
ASC 326
Adoption
Adoption
Assets
Loans:
Commercial real estate
(1,961)
$
(3,403)
$
1,442
$
Construction and land development
(1,011)
(957)
(54)
Commercial
(1,824)
(1,369)
(455)
Residential real estate
(4,657)
(2,594)
(2,063)
Consumer
(30)
(8)
(22)
Allowance for credit losses on loans
(9,483)
(8,331)
(1,152)
Deferred tax assets, net
4,259
3,825
434
Liabilities
-
Allowance for credit losses on OBS commitments
993
$
557
$
436
$
Shareholders' Equity
Retained Earnings
29,995
31,149
(1,154)
January 1, 2023
Management estimates the ACL using relevant available information from internal and external sources, relating to
past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides
the basis for the estimation of credit losses. We have incorporated the use of peer institution data to inform regression
analysis designed to quantify the impact of reasonable and supportable forecasts in our models.
Adjustments to historical loss information are made to address various risk characteristics of our loan portfolio such
as changes in lending policies and procedures, trends in delinquencies and other non-performing loans, changes in
economic conditions and collateral values, changes in growth trends or concentrations of loan segments, and other
external factors such as regulatory environment.
Loans are either evaluated on a collective (pool) basis or on an individual basis for expected credit losses.
The ACL is measured on a collective pool basis when similar characteristics exist. The Company has identified five
portfolio segments based on the Federal Call Code segmentation and measures the allowance for ACL using
discounted cash flow. All periods during the reasonable and supportable forecast period utilize a forecasted loss rate.
We have elected to forecast the first four quarters of the credit loss estimate and revert to a long-run average of each
considered economic factor as permitted under CECL. The reversion period is four quarters.
We will evaluate loans individually when they do not share similar risk characteristics with loans evaluated on a pool
basis. Loans can be identified for individual evaluation based on nonaccrual status, delinquency, risk rating or
modification. Loans individually evaluated are excluded from the pool evaluation. We have elected to exclude accrued
interest receivable from the measurement of its ACL. When a loan is placed on non-accrual status, any outstanding
accrued interest is reversed against interest income.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
14
The estimated fair values of substantially all of our individually evaluated loans are measured based on the estimated
fair value of the loan’s collateral. We obtain third-party appraisals or valuations to establish the fair value of real estate
collateral. Appraised values are discounted to arrive at the estimated selling price of the collateral, which is considered
to be the estimated fair value less estimated costs to sell the property. For commercial and industrial loans secured by
non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined
based on the borrower’s financial statements, inventory reports, accounts receivable aging or equipment appraisals or
invoices. Indications of value from these sources are generally discounted based on the age of the financial information
or the quality of the assets. When the fair value of the loan is less than the carrying value, a specific reserve is
established in the ACL for the difference.
OBS Commitments: The ACL on OBS commitments is a liability for credit losses on commitments to originate or
fund loans. It is included in “Other liabilities” on the Consolidated Balance Sheets. Expected credit losses are estimated
over the contractual period in which the Company is exposed to credit risk via a commitment that cannot be
unconditionally canceled. In addition, the estimate of the liability considers the likelihood that funding will occur. The
ACL on unfunded commitments is adjusted through provision for credit losses on Consolidated Statements of Income.
Because the business processes and risks associated with unfunded commitments are essentially the same as loans,
the Company uses the same process to estimate the liability.
Premises and Equipment
Premises and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation is
computed using the straight-line method over the expected useful lives of the assets. Amortization of leasehold
improvements is computed using the straight-line method over the shorter of the useful lives or the remaining lease
term. Software costs, furniture, and equipment have depreciable lives of 3 to 10 years. Building and improvements
have estimated useful lives of 5 to 35 years. The costs of maintenance and repairs are expensed as they are incurred,
and renewals and betterments are capitalized.
Leases
Our leases are operating leases and are predominantly related to real estate. As a lessee we record, for all leases with
a lease term of more than 12 months, an asset representing our right to use the underlying asset and a liability to make
lease payments. The right-of-use (“ROU”) asset is included in other assets and the lease liability is included in other
liabilities on the Consolidated Balance Sheets. The amortization of operating lease ROU assets and the accretion of
operating lease liabilities are reported together as fixed lease expense and are included in occupancy and equipment
expense within other expense. The fixed lease expense is recognized on a straight-line basis over the life of the lease.
The Company has elected to exclude leases with original terms of less than one year from the operating lease ROU
assets and lease liabilities.
Other Real Estate Owned
Other real estate owned (“OREO”) is comprised of properties acquired through foreclosure proceedings or acceptance
of a deed in lieu of foreclosure. Real estate owned is recorded at the lower of the carrying value of the loan or the fair
value of the property, net of estimated selling costs. Costs relating to the development or improvement of properties
are capitalized, while expenses related to the operation and maintenance of properties are expensed as incurred. Gains
or losses upon dispositions are reflected in earnings as realized. The Bank had one OREO property valued at $258
thousand as of December 31, 2024. The Bank had no OREO properties as of December 31, 2023.
Bank-Owned Life Insurance
We have bank-owned life insurance (“BOLI”) policies on certain officers and key employees. These policies are
reflected on the Consolidated Balance Sheets at their cash surrender value, or the amount that can be realized. Income
from these policies and changes in the cash surrender value are recorded in non-interest income. During 2024 we
purchased a new $3 million BOLI policy. During 2023, we surrendered a $1.0 million policy due to a significantly
below market yield. We paid a $28 thousand tax penalty upon the redemption and reinvested the proceeds in a new
BOLI policy.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
15
Earnings Per Share
Basic earnings per share is calculated as net income divided by the weighted average number of shares outstanding,
net of treasury stock, during the period. Dilutive earnings per share include dilutive common stock equivalents as
computed under the treasury stock method using average common stock prices.
Mortgage Banking Derivatives
Commitments to fund mortgage loans (interest rate lock commitments) to be sold in the secondary market and forward
commitments for the future delivery of these mortgage loans are accounted for as freestanding derivatives. The fair
value of the interest rate lock is recorded at the time the commitment to fund the mortgage loan is executed and is
adjusted for the expected exercise of the commitment before the loan is funded. In order to hedge the change in interest
rates resulting from its commitment to fund the loans, we enter into forward commitments for the future delivery of
mortgage loans when interest rate locks are entered into. We utilize a third-party model to determine the fair value of
rate lock commitments or forward sale contracts. This model uses investor bids and the probability that the rate lock
commitments will close. Net derivative assets and liabilities are recorded within other assets or other liabilities,
respectively, on the Consolidated Balance Sheets, with changes in fair value during the period recorded within net
change in the fair value of derivative instruments on the Consolidated Statements of Income.
Income Taxes
The Company and the Bank file a consolidated federal income tax return and a consolidated New Jersey income tax
return. The Company and the Bank file separate Pennsylvania tax returns. Income taxes are allocated to the Company
and the Bank based on the contribution of their income or use of their loss in the consolidated return. As of December
31, 2024, tax years 2021 through 2023 are subject to federal examination by the IRS and years 2020 through 2023 are
subject to state examination by various state taxing authorities. Tax regulations are subject to interpretation of the
related tax laws and regulations and require significant judgment to apply.
Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between
the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as
operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply
to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect
on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the
enactment date. A valuation allowance is established against deferred tax assets when, in the judgment of management,
it is more likely than not that such deferred tax assets will not become available.
We account for income taxes in accordance with FASB ASC Topic 740-10, “Accounting for Uncertainty in Income
Taxes”, (“ASC 740”) which includes guidance related to accounting for uncertainty in income taxes, which sets out a
consistent framework to determine the appropriate level of tax reserves to maintain for uncertain tax positions. We
had no unrecognized tax benefits or accrued interest and penalties as of December 31, 2024 and 2023. We classify
interest and penalties as an element of tax expense.
Share-Based Compensation
The Company accounts for all share-based payments to be recognized as compensation expense in the consolidated
financial statements based on their fair values at the grant date. That expense will be recognized on a straight-line
basis over the period during which services are provided in exchange for the award, known as the requisite service
period (usually, the vesting period).
Operating Segments
The Company’s reportable operating segments are determined by the Chief Financial Officer, who is the designated
chief operating decision maker, based upon information provided about the Company’s products and services. While
our senior executives monitor the revenue streams of the various products and services, operations are managed, and
financial performance is evaluated on a company-wide basis. Operating segments are aggregated into one as operating

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
16
results for all segments are similar. Accordingly, all of the financial service operations are considered by management
to be aggregated into one reportable operating segment.
Recent Accounting Pronouncements
In 2023, FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740) Improvements to Tax
Disclosures” (“ASU 2023-09”). The amendments in ASU 2023-09 enhance the transparency and decision usefulness
of income tax disclosures. ASU 2023-09 requires that public business entities disclose specific categories in the rate
reconciliation and provide additional information for reconciling items that meet a quantitative threshold. All entities
will be required to disclose 1) the amount of income taxes paid (net of refunds received) disaggregated by federal and
state taxes; 2) the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in
which income taxes paid (net of refunds received) is equal to or greater than five percent of total income taxes paid
(net of refunds received).
The amendments in ASU 2023-09 also require entities to disclose income tax expense (or benefit) from continuing
operations disaggregated by federal and state. For business entities, the amendments in this update are effective for
annual periods beginning after December 15, 2024. For all other entities, the amendments are effective for annual
periods beginning after December 15, 2025. Early adoption is permitted for annual financial statements that have not
been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective
application is permitted. The Company does not expect the adoption of ASU 2023-09 to have a material impact on its
consolidated financial statements.
Note 3. Cash and Due from Banks
The Bank was required to maintain $50 thousand in cash reserves at its correspondent banks as of December 31, 2024
and 2023.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
17
Note 4. Investment Securities
A comparison of amortized cost and fair value of investment securities held to maturity and securities available for
sale as of December 31, 2024 and 2023 is as follows:
As of December 31, 2024
Gross
Gross
Allowance
Amortized
unrecognized unrecognized
Fair
for credit
(In thousands)
cost
gains
losses
value
losses
Investments HTM:
Municipal securities
44,536
$
-
$
-
$
44,536
$
-
$
Corporate bonds
500
-
-
500
-
Total HTM
45,036
$
-
$
-
$
45,036
$
-
$
Gross
Gross
Allowance
Amortized
unrealized
unrealized
for credit
Fair
cost
gains
losses
losses
value
Investments AFS:
U.S. Treasuries
-
$
-
$
-
$
-
$
-
$
U.S. government securities
38,000
$
8
$
(1,011)
$
-
$
36,997
$
Agency mortgage-backed securities
28,441
29
(2,862)
-
25,608
Corporate bonds
11,450
-
(441)
-
11,009
Total AFS
77,891
$
37
$
(4,314)
$
-
$
73,614
$
As of December 31, 2023
Gross
Gross
Allowance
Amortized
unrecognized unrecognized
Fair
for credit
(In thousands)
cost
gains
losses
value
losses
Investments HTM:
Municipal securities
36,545
$
-
$
-
$
36,545
$
-
$
Corporate bonds
500
-
-
500
-
Total HTM
37,045
$
-
$
-
$
37,045
$
-
$
Gross
Gross
Allowance
Amortized
unrealized
unrealized
for credit
Fair
cost
gains
losses
losses
value
Investments AFS:
U.S. Treasuries
4,999
$
-
$
(45)
$
-
$
4,954
$
U.S. government securities
25,500
-
(1,754)
-
23,746
Agency mortgage-backed securities
34,804
6
(3,208)
-
31,602
Corporate bonds
11,443
-
(1,213)
-
10,230
Total AFS
76,746
$
6
$
(6,220)
$
-
$
70,532
$

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
18
There was no allowance for credit losses on debt securities as of December 31, 2024 and 2023.
The scheduled maturities of investment securities held to maturity and securities available for sale as of
December 31, 2024 are as follows:
Amortized
Fair
Amortized
Fair
(In thousands)
Cost
value
Cost
value
Due in one year or less
44,501
$
44,501
$
10,000
$
9,867
$
Due after one year up to five years
35
35
29,493
28,571
Due after five years up to ten years
500
500
8,981
8,756
Due after ten years
-
-
976
812
Subtotal
45,036
45,036
49,450
48,006
Agency mortgage-backed securities
-
-
28,441
25,608
Total
45,036
$
45,036
$
77,891
$
73,614
$
AFS Investmemts
HTM Investments
There were no proceeds from the sale of securities available for sale during 2024 and 2023, respectively. There were
no realized gains or losses in 2024 and 2023.
As of December 31, 2024 and 2023, investment securities with a market value of $96.3 million and $82.0 million,
respectively, were pledged as collateral for uninsured municipal deposits and the FHLB for potential borrowings.
The following tables summarize debt securities AFS in an unrealized loss position, aggregated by major security type
and length of time in a continuous unrealized loss position, for which an allowance for credit losses has not been
recorded at December 31, 2024 and December 31, 2023.
As of December 31, 2024
Gross
Number
Gross
Number
Gross
Number
unrealized
of
unrealized
of
unrealized
of
(In thousands)
Fair value
losses
positions
Fair value
losses
positions
Fair value
losses
positions
Investments AFS:
U.S. Treasuries
-
$
-
$
-
-
$
-
$
-
-
$
-
$
-
U.S. government securities
4,991
$
(9)
$
1
24,498
$
(1,002)
$
6
29,489
(1,011)
7
Agency mortgage-backed
securities
-
-
-
23,616
(2,862)
29
23,616
(2,862)
29
Corporate bonds
-
-
-
9,009
(441)
10
9,009
(441)
10
Total
4,991
$
(9)
$
1
57,123
$
(4,305)
$
45
62,114
$
(4,314)
$
46
Less than 12 months
12 months or longer
Total
As of December 31, 2023
Gross
Number
Gross
Number
Gross
Number
unrealized
of
unrealized
of
unrealized
of
(In thousands)
Fair value
losses
positions
Fair value
losses
positions
Fair value
losses
positions
Investments AFS:
U.S. Treasuries
-
$
-
$
-
4,954
$
(45)
$
1
4,954
$
(45)
$
1
U.S. government securities
-
-
-
23,746
(1,754)
6
23,746
(1,754)
6
Agency mortgage-backed
securities
-
-
-
31,229
(3,208)
53
31,229
(3,208)
53
Corporate bonds
-
-
-
8,231
(1,213)
10
8,231
(1,213)
10
Total
-
$
-
$
-
68,160
$
(6,220)
$
70
68,160
$
(6,220)
$
70
Less than 12 months
12 months or longer
Total

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
19
Our corporate bonds are mostly comprised of financial institutions’ subordinated debt securities. Unrealized losses on
AFS debt securities have not been recognized into income because management does not intend to sell, and it is likely
that we will not be required to sell the security before recovery of its amortized cost basis. The decline in fair value is
largely due to changes in interest rates and other market conditions.
Note 5. Loans Receivable and Allowance for Credit Losses
Loans receivable consist of the following as of December 31, 2024 and 2023:
December 31,
December 31,
(In thousands)
2024
2023
Commercial real estate
168,883
$
177,062
$
Construction and land development
31,346
38,815
Commercial
40,446
34,077
Residential real estate
380,791
385,841
Consumer
989
1,242
622,455
637,037
Less allowance for credit losses
(8,954)
(9,690)
Total Loans
613,501
$
627,347
$
The Bank is subject to a loans-to-one-borrower limitation of 15% of capital funds. As of December 31, 2024, the
loans-to-one-borrower limitation was $14.6 million compared to $13.3 million as of December 31, 2023. As of
December 31, 2024 and 2023, there are no loans outstanding or committed to any one borrower that individually or
in the aggregate exceed those limits.
The Bank lends primarily to customers in its local market area. Most loans are mortgage loans. Mortgage loans include
loans secured by commercial and residential real estate and construction loans. Accordingly, lending activities could
be affected by changes in the general economy, the regional economy, or real estate values. As of December 31, 2024
and 2023, mortgage loans totaled $581.0 million and $601.7 million, respectively. Mortgage loans represent 93.3%
and 94.5% of total gross loans as of December 31, 2024 and 2023, respectively.
Allowance for Credit Losses
The following tables present the activity in the allowance for credit losses by portfolio segment for the years ended
December 31, 2024 and December 31, 2023:
December 31, 2024
Construction
Commercial
and land
Commercial
Residential
(In thousands)
real estate
development
and industrial
real estate
Consumer
Total
Allowance for credit losses:
Beginning balance
2,489
$
894
$
984
$
5,268
$
55
$
9,690
$
Credit loss expense (credit)
(1,031)
(667)
629
777
(6)
(298)
Charge-offs
(175)
-
(642)
(2)
(15)
(834)
Recoveries
14
205
138
36
3
396
Ending balance
1,297
$
432
$
1,109
$
6,079
$
37
$
8,954
$

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
20
December 31, 2023
Construction
Commercial
and land
Commercial
Residential
(In thousands)
real estate
development
and industrial
real estate
Consumer
Total
Allowance for credit losses:
Beginning balance prior to the
adoption of ASC 326
3,403
$
957
$
1,369
$
2,594
$
8
$
8,331
$
Impact of adopting ASC 326
(1,442)
54
455
2,063
22
1,152
Credit loss expense (credit)
456
(146)
(688)
627
26
275
Charge-offs
(192)
-
(213)
(62)
(4)
(471)
Recoveries
264
29
61
46
3
403
Ending balance
2,489
$
894
$
984
$
5,268
$
55
$
9,690
$
Nonaccrual Loans
The following tables present the amortized cost basis of loans on nonaccrual status and loans past due over 89 days
still accruing as of December 31, 2024 and 2023:
December 31, 2024
(In thousands)
Nonaccrual
With No
Allowance
for Credit
Loss
Nonaccrual
with
Allowance
for Credit
Loss
Loans Past
Due Over
89 Days
Still
Accruing
Commercial real estate
38
$
-
$
-
$
Construction and land development
-
-
-
Commercial
-
99
-
Residential real estate
1,315
-
-
Consumer
-
-
-
Total
1,353
$
99
$
-
$
December 31, 2023
(In thousands)
Nonaccrual
With No
Allowance
for Credit
Loss
Nonaccrual
with
Allowance
for Credit
Loss
Loans Past
Due Over
89 Days
Still
Accruing
Commercial real estate
2,170
$
151
$
-
$
Construction and land development
-
1,467
-
Commercial
105
174
-
Residential real estate
803
-
-
Consumer
-
-
-
Total
3,078
$
1,792
$
-
$
The Company recognized $208 thousand and $101 thousand of interest income on nonaccrual loans during the years
ended December 31, 2024 and 2023, respectively.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
21
The following tables present an aging analysis of past due payments for each loan portfolio classification as of
December 31, 2024 and December 31, 2023:
December 31, 2024
30-59 Days
60-89 Days
90+ Days
Total
Loans Not
(In thousands)
Past Due
Past Due
Past Due
Past Due
Past Due
Total
Commercial real estate
355
$
-
$
-
$
355
$
168,528
$
168,883
$
Construction and land development
-
-
-
-
31,346
31,346
Commercial
431
-
351
782
39,664
40,446
Residential real estate
757
512
803
2,072
378,719
380,791
Consumer
-
-
-
-
989
989
Total
1,543
$
512
$
1,154
$
3,209
$
619,246
$
622,455
$
December 31, 2023
30-59 Days
60-89 Days
90+ Days
Total
Loans Not
(In thousands)
Past Due
Past Due
Past Due
Past Due
Past Due
Total
Commercial real estate
1,872
$
-
$
1,869
$
3,741
$
173,321
$
177,062
$
Construction and land development
-
-
1,467
1,467
37,348
38,815
Commercial
35
88
604
727
33,350
34,077
Residential real estate
1,655
-
501
2,156
383,685
385,841
Consumer
3
-
-
3
1,239
1,242
Total
3,565
$
88
$
4,441
$
8,094
$
628,943
$
637,037
$
Loan Modifications to Borrowers Experiencing Financial Difficulty
Occasionally the Company modifies loans to borrowers in financial distress by providing a modification to their
original loan terms. The modification can include principal forgiveness, a term extension, an other-then-insignificant
payment delay or an interest rate reduction. When principal forgiveness is granted, the amount of forgiveness is
charged-off against the ACL.
In some cases, the Company provides multiple types of concessions on one loan. For the loans included in the
combination columns below multiple types of modifications have been made on the same loan within the current
reporting period.
The following tables present the amortized cost basis of loans as of December 31, 2024 and 2023 that were modified
to borrowers experiencing financial difficulty during the periods presented, disaggregated by class and by type of
modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress
as compared to the amortized cost basis of each class of financing receivable is also presented below.
Combination Combination
Term
Term
Total
Extension and Extension and
Class of
December 31, 2024
Principal
Payment
Term
Interest Rate
Payment
Interest Rate
Financing
(In thousands)
Forgiveness
Delay
Extension
Reduction
Delay
Reduction
Receivable
Commercial real estate
-
$
-
$
-
$
-
$
-
$
193
$
0.1%
Commercial
-
-
-
-
-
-
0.0%
Construction and land development
-
-
-
-
-
-
0.0%
Residential real estate
-
132
-
-
-
-
0.0%
Consumer
-
-
-
-
-
-
0.0%
Total
-
$
132
$
-
$
-
$
-
$
193
$
0.1%

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
22
Combination Combination
Term
Term
Total
Extension and Extension and
Class of
December 31, 2023
Principal
Payment
Term
Interest Rate
Payment
Interest Rate
Financing
(In thousands)
Forgiveness
Delay
Extension
Reduction
Delay
Reduction
Receivable
Commercial real estate
-
$
315
$
-
$
43
$
483
$
654
$
0.8%
Commercial
-
-
59
-
-
37
0.2%
Construction and land development
-
-
-
-
-
-
0.0%
Residential real estate
-
419
-
-
125
-
0.1%
Consumer
-
-
-
-
-
-
0.0%
Total
-
$
734
$
59
$
43
$
608
$
691
$
0.3%
There are no commitments to lend additional amounts to the borrowers included in the previous table.
We closely monitor the performance of the loans that are modified to borrowers experiencing financial difficulty to
understand the effectiveness of our modification efforts. The 2024 residential real estate loan modification was made
on a nonaccrual loan. One of the residential real estate modifications in 2023 was made on a nonaccrual loan. The
borrower was past due for 63 days as of December 31, 2024 and the book balance was $346 thousand.
Credit Quality Indicators
We categorize loans into risk categories based on relevant information about the ability of borrowers to service their
debt such as: current financial condition, repayment sources, payment history and value of collateral. Commercial,
commercial real estate, and construction and development loans are evaluated annually or when credit deficiencies
arise, such as delinquent loan payments. Credit quality risk ratings include the following regulatory classifications:
Special Mention – Loans classified as special mention have a potential weakness that deserves management’s close
attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the
loan or of the bank’s credit position at some future date.
Substandard – Loans classified as substandard are inadequately protected by the current net worth and payment
capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness or
weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the bank
will sustain some loss if the deficiencies are not corrected.
Doubtful – Loans classified as doubtful have all weaknesses inherent in those classified as substandard, with the added
characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts,
conditions, and values, highly questionable, and improbable.
Loans not classified as special mention, substandard, or doubtful are pass-rated loans.
The following table summarizes designated internal risk categories by portfolio segment and loan class, by origination
year, as of December 31, 2024 and 2023:

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
23
Revolving
Revolving
Loans
Loans
(In thousands)
Amortized
Converted
As of December 31, 2024
2024
2023
2022
2021
Prior
Cost Basis
To Term
Total
Commercial real estate
Pass
7,023
$
19,645
$
46,403
$
37,930
$
51,942
$
195
$
-
$
163,138
$
Special mention
484
-
-
436
4,525
-
-
5,445
Substandard
-
-
-
300
-
-
-
300
Total commercial real estate loans
7,507
$
19,645
$
46,403
$
38,666
$
56,467
$
195
$
-
$
168,883
$
Commercial real estate
Current period gross write offs
-
$
-
$
-
$
72
$
103
$
-
$
-
$
175
$
Construction and land development
Pass
10,948
$
9,993
$
4,186
$
3,838
$
268
$
2,113
$
-
$
31,346
$
Special mention
-
-
-
-
-
-
-
-
Substandard
-
-
-
-
-
-
-
-
Total construction and land development
10,948
$
9,993
$
4,186
$
3,838
$
268
$
2,113
$
-
$
31,346
$
Construction and land development:
Current period gross write offs
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
Commercial
Pass
9,334
$
1,865
$
4,998
$
2,195
$
10,244
$
11,401
$
-
$
40,037
$
Special mention
-
-
-
-
27
30
-
57
Substandard
-
-
-
1
-
351
-
352
Total commercial
9,334
$
1,865
$
4,998
$
2,196
$
10,271
$
11,782
$
-
$
40,446
$
Commercial:
Current period gross write offs
-
$
99
$
89
$
198
$
256
$
-
$
-
$
642
$
Term Loans Amortized Cost Basis by Origination Year

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
24
Revolving
Revolving
Loans
Loans
(In thousands)
Amortized
Converted
As of December 31, 2023
2023
2022
2021
Prior
Cost Basis
To Term
Total
Commercial real estate
Pass
16,376
$
47,582
$
43,126
$
63,374
$
571
$
-
$
171,029
$
Special mention
-
-
499
1,478
-
-
1,977
Substandard
-
-
3,618
438
-
-
4,056
Total commercial real estate loans
16,376
$
47,582
$
47,243
$
65,290
$
571
$
-
$
177,062
$
Commercial real estate
Current period gross write offs
-
$
-
$
-
$
192
$
-
$
-
$
192
$
Construction and land development
Pass
10,928
$
15,355
$
4,476
$
2,364
$
4,225
$
-
$
37,348
$
Special mention
-
-
-
-
-
-
-
Substandard
-
-
-
1,467
-
-
1,467
Total construction and land development
10,928
$
15,355
$
4,476
$
3,831
$
4,225
$
-
$
38,815
$
Construction and land development:
Current period gross write offs
-
$
-
$
-
$
-
$
-
$
-
$
-
$
Commercial
Pass
2,378
$
5,613
$
1,845
$
12,607
$
10,926
$
-
$
33,369
$
Special mention
-
-
-
35
66
-
101
Substandard
-
200
1
-
406
-
607
Total commercial
2,378
$
5,813
$
1,846
$
12,642
$
11,398
$
-
$
34,077
$
Commercial:
Current period gross write offs
45
$
-
$
168
$
-
$
-
$
-
$
213
$
Term Loans Amortized Cost Basis by Origination Year
The Company considers the performance of the loan portfolio and its impact on the ACL. For residential and consumer
loan classes, we also evaluate credit quality based on the aging status of the loan, which was previously presented,
and by payment activity. The following table presents the amortized cost in residential and consumer loans based on
payment activity as of December 31, 2024 and 2023:

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
25
Revolving
Revolving
Loans
Loans
(In thousands)
Amortized
Converted
As of December 31, 2024
2024
2023
2022
2021
Prior
Cost Basis
To Term
Total
Residential real estate
Payment performance
Performing
15,612
$
56,213
$
80,292
$
68,843
$
71,700
$
86,603
$
213
$
379,476
$
Nonperforming
-
-
132
99
347
598
139
1,315
Total residential real estate
15,612
$
56,213
$
80,424
$
68,942
$
72,047
$
87,201
$
352
$
380,791
$
Residential real estate:
Current period gross write offs
-
$
-
$
-
$
-
$
2
$
-
$
-
$
2
$
Consumer
Payment performance
Performing
106
$
6
$
497
$
25
$
306
$
49
$
-
$
989
$
Nonperforming
-
-
-
-
-
-
-
-
Total consumer
106
$
6
$
497
$
25
$
306
$
49
$
-
$
989
$
Consumer:
Current period gross write offs
-
$
-
$
6
$
-
$
9
$
-
$
-
$
15
$
Term Loans Amortized Cost Basis by Origination Year
Revolving
Revolving
Loans
Loans
(In thousands)
Amortized
Converted
As of December 31, 2023
2023
2022
2021
Prior
Cost Basis
To Term
Total
Residential real estate
Payment performance
Performing
56,213
$
83,996
$
74,802
$
83,450
$
85,503
$
1,074
$
385,038
$
Nonperforming
-
136
-
404
100
163
803
Total residential real estate
56,213
$
84,132
$
74,802
$
83,854
$
85,603
$
1,237
$
385,841
$
Residential real estate:
Current period gross write offs
-
$
-
$
-
$
62
$
-
$
-
$
62
$
Consumer
Payment performance
Performing
8
$
665
$
40
$
482
$
47
$
-
$
1,242
$
Nonperforming
-
-
-
-
-
-
-
Total consumer
8
$
665
$
40
$
482
$
47
$
-
$
1,242
$
Consumer:
Current period gross write offs
-
$
-
$
-
$
4
$
-
$
-
$
4
$
Term Loans Amortized Cost Basis by Origination Year

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
26
Note 6. Premises and Equipment, Net
Premises and equipment as of December 31, 2024 and 2023 are summarized as follows (dollars in thousands):
(In thousands)
Estimated
Useful Lives
2024
2023
Land
122
$
122
$
Buildings and leasehold improvements
5 - 35 years
1,245
1,232
Furniture, fixtures and equipment
3 - 10 years
2,397
2,370
Premises and equipment, gross
3,764
3,724
Less accumulated depreciation and amortization
(2,314)
(1,954)
Premises and equipment, net
1,450
$
1,770
$
As of December 31,
Depreciation expense was $455 thousand and $487 thousand for the years ended December 31, 2024 and 2023,
respectively, and is recorded in occupancy and equipment expenses.
Note 7. Deposits
Deposits consist of the following major classifications as of December 31, 2024 and 2023:
(Dollars in thousand)
2024
2023
Non-interest checking
72,893
$
69,435
$
Interest checking
428,495
378,140
Money market deposits
11,273
14,597
Savings deposits
78,396
49,190
Certificates of deposit ($250 and over)
24,973
22,612
Certificates of deposit (less than $250)
48,158
72,471
Brokered deposits
83,468
80,999
Total deposits
747,656
$
687,444
$
As of December 31,
The Bank has a concentration of deposits from local municipalities. Municipal deposits, which are mostly
interest-checking accounts, were $355.2 million or 47.5% of total deposits as of December 31, 2024, and $309.1
million or 45.0% of total deposits as of December 31, 2023. Municipal deposit accounts in excess of $250 thousand
are collateralized by investment securities with a market value of $96.3 million as of December 31, 2024 and a $190.0
million FHLB Municipal Letter of Credit.
Interest expense on deposits consisted of the following for the years ended December 31, 2024 and 2023:
(In thousands)
2024
2023
Interest checking
6,378
$
4,833
$
Money market deposits
327
481
Savings deposits
1,167
411
Certificates of deposit
7,995
5,300
Total interest expense on deposits
15,867
$
11,025
$

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
27
The following is a schedule of certificates of deposit, which includes the brokered deposits, by maturities as of
December 31, 2023:
As of
(In thousands)
2025
152,140
$
2026
3,765
2027
533
2028
102
2029
59
Total certificates of deposits
156,599
$
December 31, 2024
Note 8. Borrowing Availability
Federal Home Loan Bank
The Bank is a member of the FHLB of New York and has access to overnight and term advances. As of December
31, 2024, we had $190.0 million in short-term municipal letters of credit outstanding and $10.7 million in additional
borrowing capacity. The FHLB line of credit is secured with residential and commercial mortgage loans totaling
$255.2 million. As of December 31, 2023, we had $173.0 million in short-term municipal letters of credit outstanding
and $33.0 million in additional borrowing capacity. The FHLB line of credit is secured with residential and
commercial mortgage loans totaling $253.5 million. As of December 31, 2024 and 2023, $0 million was outstanding
against the FHLB line of credit. The average balance of FHLB advances was $355 thousand and $4.0 million for 2024
and 2023, respectively, with average rates paid of 5.57% and 4.33% for the respective periods.
Federal Reserve Bank
As of December 31, 2024, we had $144.4 million in borrowing capacity at the FRB. The FRB line of credit is secured
with commercial, construction and residential and commercial mortgage loans totaling $195.6 million. As of
December 31, 2023, we had $140.4 million in borrowing capacity at the FRB. The FRB line of credit was secured
with commercial, construction and residential and commercial mortgage loans totaling $195.6 million. As of
December 31, 2024, $0 million was outstanding against the FRB line of credit compared to $53.6 million, with an
interest rate of 5.50%, as of December 31, 2023. The average balance of FRB advances was $12.4 million and $17.8
million for 2024 and 2023, respectively. For 2024 the average rate paid was 5.53% compared to 5.34% for 2023.
Subordinated Debt
On August 26, 2020, the Company issued $10.750 million of 7.00% fixed-to-floating rate subordinated notes with a
maturity date of September 1, 2030. The subordinated notes, which qualify as Tier 2 capital, bear interest at an annual
rate of 7.00%, payable semi-annually in arrears and a floating rate of interest equivalent to the 3-month Secured
Overnight Financing Rate (SOFR) plus 6.89% payable quarterly in arrears commencing on September 1, 2025. The
subordinated debt issuance costs of approximately $359 thousand are being amortized over five years on a straight-
line basis into interest expense. The carrying value of subordinated debt was $10.7 million as of December 31, 2024
compare to $10.6 million as of December 31, 2023.
Other Lines of Credit
As of December 31, 2024 and 2023, the Bank had an unsecured line of credit with Atlantic Community Bankers Bank
(“ACBB”) in the aggregate amount of $8.0 million. As of December 31, 2024 and 2023, $0 was outstanding against

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
28
the ACBB line of credit. The average balance of the ACBB line was $0 and $20 thousand for 2024 and 2023,
respectively, an with average rate paid of 5.33% in 2023.
As of December 31, 2024 and 2023, 1st Colonial Bancorp, Inc. had a secured line of credit with ACBB in the aggregate
amount of $2.5 million. The ACBB line is secured with 100% of the voting stock of 1st Colonial Community Bank.
As of December 31, 2024 and 2023, there were no outstanding balances against this line.
Note 9. Earnings Per Share
The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share
calculation for the years ended December 31, 2024 and 2023:
Net
Average
Per share
(In thousands, except for per share data)
Income
shares
Amount
2024:
Basic earnings per share
8,057
$
4,775,006
1.69
$
Effect of dilutive stock equivalents
-
139,902
(0.05)
Diluted earnings per share
8,057
$
4,914,908
1.64
$
2023:
Basic earnings per share
7,431
$
4,705,189
1.58
$
Effect of dilutive stock equivalents
-
122,604
(0.04)
Diluted earnings per share
7,431
$
4,827,793
1.54
$
Basic earnings per share is calculated on the basis of weighted average number of shares outstanding. Diluted earnings
per share is calculated on the basis of weighted average number of shares outstanding and common stock equivalents
(“CSEs”) that would arise from the exercise of dilutive securities. For 2024 and 2023, the Company granted a total of
31,166 and 57,728 restricted stock unit awards, respectively, which are considered CSEs. Options to purchase 231,246
and 278,232 shares of common stock were outstanding as of December 31, 2024 and 2023, respectively. There were
no antidilutive options excluded from the earnings per share calculations for 2024 and 2023.
Note 10. Derivative and Hedging Activity
Commitments to fund certain fixed rate mortgage loans (interest rate lock commitments) to be sold in the secondary
market and forward commitments for the future delivery of mortgage loans to third party investors are considered
derivatives. We enter into forward commitments for the future delivery of residential mortgage loans when interest
rate lock commitments are entered into in order to economically hedge the effect of changes in interest rates resulting
from our commitments to fund the loans. Interest rate lock commitments and forward sales commitments are recorded
within other assets and/or other liabilities on the Consolidated Balance Sheets, with changes in fair values recorded
within gains on sale of mortgage loans on the Consolidated Statements of Income.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
29
The following table reflects the amount and fair value of mortgage banking derivatives included in the Consolidated
Balance Sheets as of December 31, 2024 and 2023.
Notional
Fair
Notional
Fair
(In thousands)
Amount
Value
Amount
Value
Included in other assets
Interest Rate Lock Commitments
2,969
$
58
$
3,149
$
94
$
Forward commitments
3,500
15
-
-
Total included in other assets
6,469
$
73
$
3,149
$
94
$
Included in other liabilities
Interest Rate Lock Commitments
-
-
-
-
Forward commitments
-
-
3,000
21
Total included in other liabilities
-
$
-
$
3,000
$
21
$
December 31, 2024
December 31, 2023
Note 11. Fair Value of Financial Instruments
Under FASB ASC Topic 820 “Fair Value Measurements and Disclosures” (“ASC Topic 820”), fair values are based
on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date. When available, management uses quoted market prices to determine
fair value. If quoted prices are not available, fair value is based upon valuation techniques such as matrix pricing or
other models that use, where possible, current market-based or independently sourced market parameters, such as
interest rates. If observable market-based inputs are not available, we use unobservable inputs to determine appropriate
valuation adjustments using discounted cash flow methodologies.
Management uses its best judgment in estimating the fair value of our financial instruments; however, there are
inherent weaknesses in any estimation technique. The estimated fair value amounts have been measured as of their
respective period end and have not been re-evaluated or updated for purposes of these financial statements subsequent
to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective
reporting dates may be different than the amounts reported at each period-end.
ASC Topic 820 provides guidance for estimating fair value when the volume and level of activity for an asset or
liability has significantly declined and for identifying circumstances when a transaction is not orderly. ASC Topic 820
establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The
hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities
(Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of
the fair value hierarchy under ASC Topic 820 are as follows:
Level 1:
Unadjusted quoted prices in active markets that are accessible at the measurement date for
identical, unrestricted assets or liabilities.
Level 2:
Quoted prices in markets that are not active, or inputs that are observable either directly or
indirectly, for substantially the full term of the asset or liability. Level 2 includes debt
securities with quoted prices that are traded less frequently then exchange-traded instruments.
Valuation techniques include matrix pricing which is a mathematical technique used widely
in the industry to value debt securities without relying exclusively on quoted market prices
for the specific securities but rather by relying on the securities’ relationship to other
benchmark quoted prices.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
30
Level 3:
Prices or valuation techniques that require inputs that are both significant to the fair value
measurement and unobservable (i.e., supported with little or no market activity).
A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to
the fair value measurement. We did not have transfers of financial instruments within the fair value hierarchy during
the years ended December 31, 2024 and 2023.
Items Measured on a Recurring Basis
Fair value for Level 1 securities is determined by obtaining quoted market prices in active markets. U.S. Treasuries
are classified as Level 1.
Level 2 securities include obligations of U.S. government-sponsored agencies and debt securities with quoted prices,
which are traded less frequently than exchange-traded instruments, whose value is determined using matrix pricing
with inputs that are observable in the market or can be derived principally from or corroborated by observable market
data. The prices were obtained from third party vendors. This category generally includes our mortgage-backed
securities and CMOs issued by U.S. government and government-sponsored agencies, and corporate bonds.
Additionally, the fair value of our forward commitments is based on market pricing and is classified as Level 2.
Level 3 includes our interest rate lock commitments. The determination of fair value of includes assumptions, that are
significant and unobservable, about the probability that the loans behind the rate lock commitments will close.
Items Measured on a Nonrecurring Basis
Loans individually evaluated are based on the fair value of the underlying collateral, less costs to sell. When the
collateral value less costs to sell is less than the carrying value of the loan, a specific reserve (valuation allowance) is
established. OREO is carried at the lower of cost or fair value. Fair value is based upon independent market prices,
appraised values of the collateral or management’s estimation of the value of the real estate. These assets are included
as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements.
For financial assets measured at fair value on a recurring and nonrecurring basis, the fair value measurements by level
within the fair value hierarchy used as of December 31, 2024 and December 31, 2023 are as follows:

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
31
Quoted Prices
in Active
Significant
Markets for
Other
Significant
Identical
Observable
Unobservable
As of December 31, 2024
Assets
Inputs
Inputs
(In thousands)
Level 1
Level 2
Level 3
Total
Assets measured at fair value on a recurring basis
Investment securities:
U.S. government agencies
-
$
36,997
$
-
$
36,997
$
Agency mortgage-backed securities
-
25,608
-
25,608
Corporate bonds
-
11,009
-
11,009
Total investments AFS
-
73,614
-
73,614
Mortgage loans held for sale
6,273
6,273
Interest rate lock commitments
-
-
58
58
Forward commitments
-
15
-
15
Total assets measured at fair value on a recurring basis
-
$
79,887
$
58
$
79,945
$
Assets measured at fair value on a non-recurring basis
Individually evaluated loans
-
$
-
$
2,595
$
2,595
$
Other real estate owned
-
-
258
258
Total assets measured at fair value on a non-recurring basis
-
$
-
$
2,853
$
2,853
$
Fair Value Measurements Using:

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
32
Quoted Prices
in Active
Significant
Markets for
Other
Significant
Identical
Observable
Unobservable
As of December 31, 2023
Assets
Inputs
Inputs
(In thousands)
Level 1
Level 2
Level 3
Total
Assets measured at fair value on a recurring basis
Investment securities:
U.S. Treasuries
4,954
$
-
$
-
$
4,954
$
U.S. government agencies
-
23,746
-
23,746
Agency mortgage-backed securities
-
31,602
-
31,602
Corporate bonds
-
10,230
-
10,230
Total investments AFS
4,954
65,578
-
70,532
Mortgage loans held for sale
-
3,619
-
3,619
Interest rate lock commitments
-
-
94
94
Forward commitments
-
-
-
-
Total assets measured at fair value on a recurring basis
4,954
$
69,197
$
94
$
74,245
$
Liabilities measured at fair value on a recurring basis
Forward commitments
-
$
21
$
-
$
21
$
Total liabilities measured at fair value on a recurring basis
-
$
21
$
-
$
21
$
Assets measured at fair value on a non-recurring basis
Individually evaluated loans
-
$
-
$
5,502
$
5,502
$
Total assets measured at fair value on a non-recurring basis
-
$
-
$
5,502
$
5,502
$
Fair Value Measurements Using:
The following tables present additional quantitative information about assets measured at fair value on a nonrecurring
basis and for which we have utilized Level 3 inputs to determine fair value as of December 31, 2024 and December
31, 2023:
As of December 31, 2024
Valuation
Unobservable
Range of
Weighted
(Dollars in thousands)
Fair Value
Techniques
Input
Inputs
Average
Individually evaluated loans
2,595
$
Appraisal
Liquidation expenses
0%-18.6% discount
8.8%
of collateral
Other real estate owned
258
Appraisal
Liquidation expenses
10.9%
10.9%
of collateral
Qualitative Information about Level 3 Fair Value Measurements
As of December 31, 2023
Valuation
Unobservable
Range of
Weighted
(Dollars in thousands)
Fair Value
Techniques
Input
Inputs
Average
Individually evaluated loans
5,502
$
Appraisal
Liquidation expenses
0%-17.8% discount
13.39%
of collateral
Qualitative Information about Level 3 Fair Value Measurements

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
33
The estimated fair value of the Company’s financial instruments as of December 31, 2024 and 2023 was as follows:
Quoted Prices
in Active
Significant
Markets for
Other
Significant
Identical
Observable
Unobservable
Carrying
Estimated
Assets
Inputs
Inputs
(In thousands)
value
fair value
Level 1
Level 2
Level 3
Financial Assets:
Cash and cash equivalents
67,399
$
67,399
$
67,399
$
-
$
-
$
Investments held to maturity
45,036
45,036
-
44,536
500
Investments available for sale
73,614
73,614
-
73,614
-
Restricted bank stock, at cost
1,465
NA
-
-
NA
Mortgage loans held for sale
6,273
6,273
-
6,273
-
Loans receivable, net
613,501
589,252
-
-
589,252
Interest rate lock commitments
58
58
-
-
58
Forward commitments
15
15
-
15
-
Accrued interest receivable
3,434
3,434
-
-
3,434
Financial liabilities:
Demand deposits
501,388
501,388
-
501,388
-
Money market deposits
11,273
11,273
-
11,273
-
Savings deposits
78,396
78,396
-
78,396
-
Certificates of deposit
156,599
156,773
-
156,773
-
Subordinated debt, net
10,702
11,973
11,973
-
Accrued interest payable
549
549
-
549
-
Fair Value Measurements
As of December 31, 2024

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
34
Quoted Prices
in Active
Significant
Markets for
Other
Significant
Identical
Observable
Unobservable
Carrying
Estimated
Assets
Inputs
Inputs
(In thousands)
value
fair value
Level 1
Level 2
Level 3
Financial Assets:
Cash and cash equivalents
52,728
$
52,728
$
52,728
$
-
$
-
$
Investments held to maturity
37,045
37,045
-
36,545
500
Investments available for sale
70,532
70,532
-
70,532
-
Restricted bank stock, at cost
1,457
NA
-
-
NA
Mortgage loans held for sale
3,619
3,619
-
3,619
-
Loans receivable, net
627,347
577,512
-
-
577,512
Interest rate lock commitments
94
94
-
-
94
Forward commitments
-
-
-
-
-
Accrued interest receivable
3,431
3,431
-
-
3,431
Financial liabilities:
Demand deposits
447,575
447,575
-
447,575
-
Money market deposits
14,597
14,597
-
14,597
-
Savings deposits
49,190
49,190
-
49,190
-
Certificates of deposit
176,082
176,779
-
176,779
-
Subordinated debt, net
10,631
9,819
-
9,819
Other borrowings
53,600
53,600
-
53,600
-
Forward commitments
21
21
-
21
Accrued interest payable
668
668
-
668
-
Fair Value Measurements
As of December 31, 2023
Note 12. Income Taxes
The components of income tax expense (benefit) are stated below:
(In thousands)
2024
2023
Income tax expense (benefit)
Federal
Current
1,560
$
1,832
$
Deferred
(5)
(110)
1,555
1,722
State
Current
569
692
Deferred
24
69
593
761
Total income tax expense
2,148
$
2,483
$
For the years ended December 31,

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
35
The following is a reconciliation between expected tax expense at the statutory rate of 21% for 2024 and 2023 and
actual tax expense:
(In thousands)
2024
2023
Computed tax expense at statutory rate
2,143
$
2,082
$
Adjustments resulting from:
State tax, net of federal benefit
473
601
Tax-exempt interest income
(346)
(206)
Bank owned life insurance
(127)
(21)
Stock-based compensation
(55)
(14)
Other
60
41
Income tax expense
2,148
$
2,483
$
For the years ended December 31,
Significant deferred tax assets and liabilities of the Bank as of December 31, 2024 and 2023 are as follows:
(In thousands)
2024
2023
Deferred tax assets:
Allowance for loan losses
2,343
$
2,556
$
Deferred rent
52
38
Unrealized losses on AFS debt securities
1,119
1,639
Share-based compensation cost
143
151
Unfunded loan commitments
273
261
Non-accrual interest
16
12
Other
9
10
Deferred tax assets
3,955
4,667
Deferred tax liabilities:
Depreciation
(289)
(380)
Prepaid expenses
(25)
(18)
Deferred loan costs
(456)
(555)
Total deferred tax liabilities
(770)
(953)
Net deferred tax asset, included in other
assets
3,185
$
3,714
$
As of December 31,
The realizability of deferred tax assets is dependent upon various factors, including the generation of future taxable
income, the existence of taxes paid and recoverable, the reversal of deferred tax liabilities, and tax planning strategies.
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some
portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent
upon the generation of future taxable income during the periods in which the net operating loss carryforwards are
available and the temporary differences representing net future deductibles reverse. Based upon these and other factors
management has determined that it is more likely than not that the Company will realize the benefits of the deferred
tax assets that exist as of December 31, 2024.
As of December 31, 2024 and 2023, the Company had no material unrecognized tax benefits or accrued interest and
penalties. The Company’s policy is to account for interest as a component of interest expense and penalties as a
component of other expense.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
36
As of December 31, 2024, the years 2021 – 2023 are open for federal examination and years 2020-2023 are open for
state examinations.
Note 13. Leases
The Company has operating leases for a retail branch, our operation and administration center (main office) and certain
equipment. On commencement date of a new lease, the Company recognizes a ROU asset, which represents the right
to use an underlying asset for the lease term, and a lease liability, which represents an obligation to make lease
payments arising from the lease. The ROU assets are included in other assets and lease liabilities are included in other
liabilities. No new leases were executed in 2024 and 2023. The Company’s leases have remaining lease terms of one
month to 6.5 years, some of which include options to extend the leases for up to five years. Because we may need to
expand our office space, the extension options were excluded from the calculations of the ROU asset and lease
liability.
The following table presents the ROU assets and the lease liability for the years ended December 31, 2024 and 2023.
(In thousands)
2024
2023
ROU asset
1,352
$
1,667
$
Lease liabilitity
1,549
$
1,812
$
For the years ended December 31,
The following table presents operating lease costs for the years ended December 31, 2024 and 2023.
(In thousands)
2024
2023
Operating lease cost
413
$
413
$
413
$
413
$
For the years ended December 31,
A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total of
operating lease liabilities is as follows:
(In thousands)
2024
2023
2024
-
361
2025
432
432
2026
354
354
2027
347
347
2028
256
256
Thereafter
400
400
Total lease payments
1,789
2,150
Less imputed interest
(240)
(338)
Total
1,549
$
1,812
$
As of December 31,
Note 14. Commitments and Contingencies
Financial Instruments with Off-Balance-Sheet Risk
The Bank is a party to financial instruments with off-balance-sheet risk in the normal course of business. These
financial instruments include commitments to extend credit to meet the financing needs of its customers. Such
commitments have been made in the normal course of business and at current prevailing market terms. The
commitments, once funded, are principally to originate commercial loans and other loans secured by real estate. The

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
37
Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet
instruments.
Commitments issued to potential borrowers of the Bank as of December 31, 2024 and 2023 were as follows:
(In thousands)
2024
2023
Fixed rate commitments
1,468
$
2,805
$
Variable/adjustable rate commitments
128,828
137,350
Total commitments
130,296
$
140,155
$
As of December 31,
Legal Proceedings
Within the normal course of business, the Company may be a party to various claims or legal proceedings.
Management is not aware of any litigation that would have a material adverse effect on the consolidated financial
statements. There are no proceedings pending other than routine litigation incident to the business of the Company.
Note 15. Related-Party Transactions
Directors and executive officers of the Company, including their immediate families and companies in which they
have a direct or indirect material interest, are considered to be related parties. In the ordinary course of business, the
Company engages in various related party transactions, including extending credit and deposit accounts. Federal
banking regulations require that any extensions of credit to insiders and their related interests not be offered on terms
more favorable than would be offered to non-related borrowers of similar creditworthiness. The Company relies on
the directors and executive officers for the identification of their associates.
The aggregate amount of loans to related parties was $1.1 million as of December 31, 2024 and 2023, respectively.
During 2024 and 2023, new loans and credit line advances to such related parties amounted to $37 thousand and $296
thousand, respectively, and repayments amounted to $34 thousand and $26 thousand, respectively. The aggregate
amount of deposits from related parties was $39.9 million and $27.3 million as of December 31, 2024 and 2023,
respectively.
The Bank engaged in certain property inspection and construction services with an entity that is affiliated with a
director of the Bank. Such aggregate services amounted to fees of $9 thousand and $14 thousand for the years ended
December 31, 2024 and 2023, respectively.
Note 16. Employee Benefits
The Bank instituted a qualified defined contribution plan (‘the 401(K) Plan”) for all current employees in August 2005.
All eligible employees are 100% vested in any required safe harbor contributions. The Bank made safe harbor
contributions in the amount of $306 thousand and $293 thousand during 2024 and 2023, respectively.
Note 17. Share-Based Compensation
During 2020, the shareholders approved the 1st Colonial Bancorp, Inc. 2020 Equity Incentive Plan (“2020 Equity
Plan”). The Board of Directors approved the 2020 Equity Plan for the purpose of enabling the Company to continue
to recruit and retain highly qualified personnel, to provide those personnel with an incentive for productivity, and to
provide those personnel with an opportunity to share in the growth and value of the Company. Accordingly, the board
of directors has reserved 400,000 shares of our common stock for issuance upon the grant or exercise of awards
pursuant to the 2020 Equity Plan. The Board of Directors believes that the shares authorized by the 2020 Equity Plan
are needed to ensure the continued availability of equity-based compensation and that the 2020 Equity Plan will
enhance the effectiveness of the Bank’s equity compensation program by authorizing the award of restricted stock and
the use of other stock-based compensation techniques. The exercise price of options granted under this program is

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
38
required to be equal to at least the fair market value of common stock as of the grant date. The 2020 Equity Plan allows
for the Compensation Committee of the Board of Directors to determine the type of incentive to be awarded, its term,
vesting and restrictions on shares. As of December 31, 2024, 256,717 options and restricted stock units were
outstanding under this plan.
Compensation expense for equity grants is recognized over the requisite service period. During 2024 and 2023, we
recognized $491 thousand and $369 thousand, respectively, in compensation expense for equity grants. As of
December 31, 2024, approximately $1.0 million remained to be recognized in compensation expense over a weighted-
average period of approximately 2.4 years.
The authorization of the 2020 Equity Plan terminated two other stock option programs, the 2013 Outside Director
Plan and the 2013 Employee Stock Option Plan. No new options or awards will be granted under the 2013 Plans.
Under the 2013 Outside Director Plan, 68,306 options remain outstanding as of December 31, 2024 for nonemployee
directors. The exercise price of options granted under this program was required to be equal to at least the fair market
value of common stock as of the grant date. All options granted under this plan vest in five equal annual installments
or upon retirement. These options expire 10 years from the grant date.
Under the 2013 Employee Stock Option Plan, 6,640 options remain outstanding as of December 31, 2024 for key
employees. The exercise price of options granted under this program was equal to at least the fair market value of
common stock as of the grant date. All options granted under this plan vest in five equal annual installments, upon
retirement or a change in control of the Company. These options expire 10 years from the grant date.
The fair value of each stock option award is estimated on the date of the grant using the Black-Scholes option-pricing
model. The risk-free interest rate for the expected term of the stock option awarded is based on the U.S. Treasury
yield curve in effect at the time of the grant. The volatility of the Company’s stock is based on a combination of
historical volatility and peer data over a span of time equal to the expected life of stock option awards, which is the
period of time the Company estimates that stock options granted will remain outstanding. The simplified method
averages an award’s weighted average vesting period and its contractual term. There were no stock option awards
granted in 2024 and 2023.
A summary status of the Company’s stock option plans as of December 31, 2024 and 2023, and the changes during
the years then ended, is as follows:
Weighted
Weighted
(1)
Weighted
Average
Average
Aggregate
Average
Exercise
Remaining
Intrinsic
Exercise
Options
Price
Term (yrs)
Value
Options
Price
Options outstanding at beginning of year
278,232
8.02
$
5.4
373,132
7.60
$
Granted
-
-
-
-
Exercised
(45,986)
7.00
(58,823)
5.20
Forfeited or expired
(1,000)
7.63
(36,077)
8.21
Options outstanding at the end of the year
231,246
8.23
$
4.8
1,542
$
278,232
8.02
$
Options exercisable at the end of the year
166,246
8.16
$
4.2
1,121
$
180,532
7.73
$
2023
2024
(1) The aggregate intrinsic value of a stock option in the table above (shown in thousands) represents the total
pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the
exercise price of the option) that would have been received by the option holders had they exercised their
options on December 31, 2024. The intrinsic value varies based on the changes in the market value in the
Company’s stock.

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
39
The Company issues new shares upon the exercise of stock options.
The following table provides detail for non-vested stock options under the 2020 Equity Plan as of December 31, 2024:
Weighted
Average
Exercise
Options
Price
Non-vested options December 31, 2023
97,700
8.57
$
Granted
-
-
Forfeited
(400)
7.63
Vested
(32,300)
8.91
Non-vested options December 31, 2024
65,000
8.41
$
The following table summarizes the activity for the Company’s restricted stock unit awards as of December 31, 2024:
Weighted
Restricted
Average
stock
Fair
units
Value
Outstanding as of December 31, 2023
114,928
11.01
$
Granted
31,166
14.22
Forfeited
(11,208)
10.34
Vested
(34,469)
11.30
Outstanding as of December 31, 2024
100,417
11.99
$
Note 18. Shareholders’ Equity and Regulatory Capital
Shareholders’ Equity
On August 8, 2023, the Company announced and adopted a stock repurchase program that expired in July 2024. As
of December 31, 2023, 640 shares were repurchased for a cost of $8 thousand. There were no shares repurchased in
2024.
Dividend Policy
Company
The Company has not paid a cash dividend since its inception in June 2000. Any payment of cash dividends to its
shareholders would be dependent on the payment of a cash dividend from the Bank to the Company. The payment of
cash dividends by the Bank to the Company is limited under federal banking law. The Company’s future dividend
policy is subject to the discretion of its board of directors and will depend upon a number of factors, including future
earnings, financial conditions, cash needs, and general business conditions. Holders of common stock will be entitled
to receive dividends as and when declared by the board of directors out of funds legally available for that purpose.
Bank
The amount of dividends that may be paid by the Bank depends upon the Bank’s earnings and capital position, and is
limited by New Jersey and federal law, regulations, and policies. As a state-chartered bank subject to New Jersey and
FDIC regulations, the Bank cannot pay any dividend if the dividend would reduce the required surplus of the Bank as

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
40
defined in New Jersey statutes. As a matter of policy, the FDIC expects state banks to follow the national bank dividend
limits, which allow a bank to pay dividends up to the amount of net profits of the current year plus the retained net
profits from the last two years. Amounts in excess of that would require prior approval of the FDIC. In addition, the
FDIC and the state of New Jersey have authority to further limit any dividends to be paid by the Bank in a specific
case. No specific dividend restrictions have been imposed on the Bank at this time.
Regulatory Capital
The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure
to meet minimum capital requirements can initiate certain mandatory – and possibly additional discretionary – actions
by regulators that, if undertaken, could have a direct material effect on the Bank’s consolidated financial statements.
Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet
specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain
off-balance-sheet items as calculated under regulatory accounting practices. The net unrealized gain or loss on
available for sale securities is not included in computing regulatory capital. The Bank’s capital amounts and
classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other
factors.
A banking organization must hold a capital conservation buffer comprised of Common Equity Tier 1 above its minimum
risk-based capital requirements in an amount greater than 2.5% of total risk-weighted assets. At year end 2024 and 2023,
the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for
prompt corrective action. There are no conditions or events since that notification that management believes have
changed the institution’s category.
The Bank’s actual capital amounts and ratios as of December 31, 2024 and 2023 are presented in the following table:
(Dollars in thousands)
Amount
Ratio
Amount
Ratio*
Amount
Ratio*
Amount
Ratio
Total risk-based capital
As of December 31, 2024
95,785
$
17.506%
43,773
$
8.00%
57,452
$
10.50%
54,716
$
10.00%
As of December 31, 2023
86,824
$
15.554%
44,657
$
8.00%
58,612
$
10.50%
55,821
$
10.00%
Tier 1 risk-based capital
As of December 31, 2024
88,916
$
16.250%
32,830
$
6.00%
46,509
$
8.50%
43,773
$
8.00%
As of December 31, 2023
79,815
$
14.298%
33,493
$
6.00%
47,448
$
8.50%
44,657
$
8.00%
Tier 1 leverage capital
As of December 31, 2024
88,916
$
10.683%
33,291
$
4.00%
33,291
$
4.00%
41,614
$
5.00%
As of December 31, 2023
79,815
$
10.015%
31,878
$
4.00%
31,878
$
4.00%
39,847
$
5.00%
Tier 1 common equity risk-
based capital
As of December 31, 2024
88,916
$
16.250%
24,622
$
4.50%
38,301
$
7.00%
35,566
$
6.50%
As of December 31, 2023
79,815
$
14.298%
25,120
$
4.50%
39,075
$
7.00%
36,284
$
6.50%
Actual
For capital adequacy
purposes
For capital adequacy
purposes with capital
conservation buffer
To be well capitalized
under prompt
corrective action
provision

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
41
Note 19. Parent Company Financial Information
A summary of the Balance Sheets as of December 31, 2024 and 2023 is as follows:
(In thousands)
2024
2023
Assets
Cash in subsidiary
3,451
$
3,981
$
Investment in subsidiary
85,216
74,401
Deferred tax asset
143
151
Other assets
385
296
Total assets
89,195
$
78,829
$
Liabilities and Shareholders’ Equity
Subordinated debt, net of issuance costs
10,702
$
10,631
$
Accrued interest payable
251
251
Other liabilities
24
24
Shareholders' equity
78,218
67,923
Total liabilities and shareholders’ equity
89,195
$
78,829
$
As of December 31,
A summary of the Statements of Income for the years ended December 31, 2024 and 2023 is as follows:
(In thousands)
2024
2023
Equity income from subsidiary
9,389
$
5,286
$
Dividend income
-
3,400
Total income
9,389
8,686
Other expenses:
Interest on subordinated debt
824
824
Other operating expenses
587
474
Total other expenses
1,411
1,298
Income before income tax benefit
7,978
7,388
Income tax benefit
(79)
(43)
Net income
8,057
$
7,431
$

1ST COLONIAL BANCORP, INC. AND SUBSIDIARY
Notes to Consolidated Financial Statements
42
A summary of the Statements of Cash Flows for the years ended December 31, 2024 and 2023 is as follows:
(In thousands)
2024
2023
Cash flows from operating activities:
Net income
8,057
$
7,431
$
Adjustments to reconcile net income to net cash provided
by (used in) operating activities:
Equity in income from subsidiary
(9,389)
(5,286)
Stock-based compensation expense
491
369
Decrease (increase) deferred income tax benefit
8
(17)
Amortization of issuance costs on long-term debt
71
72
Increase in other assets
(89)
(39)
Increase in other liabilities
-
5
Total adjustments
(8,908)
(4,896)
Net cash (used in) provided by operating activities
(851)
2,535
Net cash used in investing activities
-
-
Cash flows from financing activities:
Acquisition of treasury stock
-
(8)
Proceeds from sale of stock
321
306
Net cash provided by financing activities
321
298
Net (decrease) increase in cash and cash equivalents
(530)
2,833
Cash and cash equivalents at beginning of year
3,981
1,148
Cash and cash equivalents at end of year
3,451
$
3,981
$
Cash paid during the year for:
Interest
17,516
$
12,708
$
Income taxes paid
2,280
3,025
Supplemental disclosures:
Net change in unrealized gains on securities available for sale, net
tax benefit of $511 for 2024 and $588 for 2023
1,426
$
1,341
$

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Administrative Office
1000 Atrium Way
Suite 200
Mount Laurel, NJ 08054
(856) 858-1100
Collingswood Branch
1040 Haddon Avenue
Collingswood, NJ 08108
(856) 858-8604
Westville Branch
321 Broadway
Westville, NJ 08093
(856) 456-6544
Limerick Branch
440 Linfield Trappe
Road
Limerick, PA 19456
(610) 226-3000
Stock Listing
1st Colonial Bancorp, Inc.'s Common Stock is traded under the Symbol "FCOB"
Board of Directors
Linda M. Rohrer, Chairman
Thomas R. Brugger
Curt Byerley
Thomas A. Clark, III, Esquire
John J. Donnelly, IV
Michael C. Haydinger
Harvey Johnson, Esquire
Stanley H. Molotsky
Shelley Y. Simms
Executive Officers
Robert B. White, President and Chief Executive Officer
Mary Kay Shea, Executive Vice President and Chief Financial Officer
Senior Management
1st Colonial Community
Bank
Gino Brown, SVP Director of Residential and Consumer Lending
Matthew McGonigal, SVP Director of Digital Experience and Operations
William Pizzichil, SVP Managing Director of Risk
Randolph D. Wolfe, SVP Chief Revenue Officer
Auditors
Crowe LLP
701 13th St NW, Suite 852
Washington, DC 20004
Counsel
Stradley Ronon Stevens & Young LLP
A Pennsylvania Limited Liability Partnership
2005 Market Street, Suite 2600
Philadelphia, Pennsylvania 19103-7018
Registrar and Transfer
Agent
Pacific Stock Transfer Company
6725 Via Austi Parkway, Suite 300
Las Vegas, Nevada 89119
Telephone (800) 785-7782

1 S T C O L O N I A L . C O M
1000 Atrium Way
Suite 200
Mt. Laurel, NJ 08054
877.785.8550