Princeton National Bancorp Is a Jewel Amid Regional Bank Wreckage

The subprime mess brought down most regional bank stocks, but Princeton National Bancorp (PNBC), the parent holding company of Citizens First National Bank, didn't deserve the drubbing. PNBC has no sub-prime loans in its loan portfolio or any indirect exposure to such loans in its investment portfolio.

This northern Illinois community bank continues to prosper despite difficult economic times. In late January 2008, the bank announced improved earnings for the fourth quarter and the year, plus it increased its quarterly dividend to $0.28 ( 4.2 percent yield). PNBC has paid 92 consecutive quarterly dividends dividend, several of which have included special payments.

PNBC is a candidate for a long-term dividend-reinvestment portfolio.

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Posted February 19, 2008.