A Catholic school that has operated in Bordentown for nearly 150 years will soon be shuttered.

St. Mary School in Bordentown (St. Mary School in Bordentown)

The Diocese of Trenton announced Saturday that the St. Mary School in Bordentown will be closed at the end of the school year due to declining enrollment and mounting financial difficulties. The school has 112 students, and their families were notified of the decision on Friday.

Diocese Bishop David M. O’Connell, C.M.,called it a "difficult and painful" decision to close the school but noted that recent efforts to increase enrollment have not met with success to meet the minimum of 220 students.

The school is expected to finish the year with a $100,000 debt. It employs 19 faculty and staff members, and the diocese will provide them with undisclosed severance packages.

St. Mary’s is the first school that Bishop O’Connell has had to close since being placed in charge of the diocese in December, 2010.

The St. Mary school was founded by the Sisters of Mercy in the mid-1800s. It was the first school founded by the Sisters of Mercy in New Jersey. The school building was constructed in 1888.

The Associated Press contributed to this story