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Peapack-Gladstone Financial Corporation Reports Strong Third Quarter Results, as Net Interest Margin Continues to Expand  

Posted October 27, 2022

Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the “Company”) announces its third quarter 2022 results.

This earnings release should be read in conjunction with the Company’s Q3 2022 Investor Update, a copy of which is available on our website at www.pgbank.com  and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov

The Company recorded total revenue of $61.91 million, net income of $20.13 million and diluted earnings per share (“EPS”) of $1.09 for the quarter ended September 30, 2022, compared to revenue of $52.99 million, net income of $14.17 million and diluted EPS of $0.74 for the three months ended September 30, 2021.

The Company’s return on average assets, return on average equity, and return on average tangible equity totaled 1.30%, 15.21% and 16.73%, respectively, for the September 2022 quarter. 

The September 2022 quarter results were driven by continued improvement in net interest income and net interest margin, which improved $10.3 million and 56 basis points, when compared to the September 2021 quarter (and $2.6 million and 15 basis points when compared to the June 2022 quarter). This benefit was partially offset by a decline in noninterest income, principally wealth management fee income and capital markets activity fee income, due to volatility in the markets.

Peapack-Gladstone Bank’s 2nd Annual Boonton Christmas Tree Sale

Posted October 26, 2022
Peapack-Gladstone Bank announces the return of the Boonton Christmas tree sale.  This 2nd annual holiday event will highlight the rich history of the community and is reminiscent of past tree sales sponsored by the local Kiwanis Club of Boonton.  To be held at the Bank’s retail location at 104 Ely Place, one hundred percent of this year’s proceeds benefit Youth Mental Health Programs at Lakeland Hills Family YMCA in Mountain Lakes.
 

Beginning at 10:00 am on November 25, families can choose from a selection of approximately 300 trees, in a wide variety of species, ranging from 5 to 12 foot.  Cash and credit or debit card payments only.  Once your selection is made, volunteers net and prepare your holiday selection for transport. Sale days are November 25 - 27 and December 2 - 4 from 10:00 am to 6:00 pm.

Founded in 1921, Peapack-Gladstone Bank reflects on past traditions and ties to its community, bringing back an old-fashioned quality to this one-of-a-kind branch. The new Boonton location offers personal and business banking solutions, as well as wealth management, investment banking, professional services and consumer and commercial lending.  The branch is open Monday through Friday from 9:00 am to 5:00 pm, Thursdays until 6:00 pm, and Saturday from 9:00 am to 12 Noon.  Additional amenities include fully operational drive-up services, 24-hour ATM, safe deposit boxes and night deposit services.

Peapack-Gladstone Bank Announces Enhancements to its Subsidiary, Peapack Capital

Posted September 19, 2022
Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce enhancements to its equipment finance and leasing subsidiary, Peapack Capital.  Dennis Smith has been named President of the division, while Richard Johnston has been named National Director of Sales.  Together, Dennis and Rich now lead a team of 16, operating out of Bedminster, NJ and Northborough, Massachusetts.
 

A 30-year plus veteran in the business, Denny Smith of Hudson, New Hampshire, joined Peapack Capital in 2017, as Senior Vice President and Chief Operating Officer of Peapack Capital.  As President, Denny will focus on elevating divisional operations and capabilities.  Prior to joining Peapack Capital, Denny managed front and mid-office operational functions including pricing, structuring, buy/sell syndication, proposal creation, profitability analysis, incentive compensation, closing functions, change management, and Infolease system upgrade projects for Sovereign Bank/Santander Bank, N.A., as Senior Vice President and Managing Director.  He also served as Director of the group during an in-footprint product launch in 2012.  Denny originally joined Sovereign Bank in August 2004 to launch tax and non-tax equipment lease products for all asset classes. 

Peapack-Gladstone Financial Corporation Reports Strong Second Quarter Results, as Net Interest Margin Continues to Expand 

Posted July 29, 2022
Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the “Company”) announces its second quarter 2022 results. 
 

This earnings release should be read in conjunction with the Company’s Q2 2022 Investor Update, a copy of which is available on our website at  www.pgbank.com  and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov.  

The Company recorded total revenue of $61.40 million, net income of $20.10 million and diluted earnings per share (“EPS”) of $1.08 for the quarter ended June 30, 2022, compared to revenue of $51.52 million, net income of $14.42 million and diluted EPS of $0.74 for the three months ended June 30, 2021. 

The Company’s return on average assets, return on average equity, and return on average tangible equity totaled 1.30%, 15.43% and 17.00%, respectively, for the June 2022 quarter. 

Peapack-Gladstone Bank Hires Roger Grossman, Senior Managing Director, Commercial Private Banker

Posted June 28, 2022
Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce the appointment of Roger Grossman as Senior Managing Director, Commercial Private Banker at Peapack-Gladstone Bank.  Roger is responsible for growing a portfolio of commercial clients and servicing businesses in the Tri-State area.  With a focus on middle market companies, he will reinforce and expand Peapack-Gladstone Bank’s footprint in the commercial arena while ensuring achievement of clients’ long-term financial goals.
                                                                                                              Mr. Grossman brings with him 32 years of experience in the banking industry.  He has a proven track record of delivering superior service and advice-led strategies to both clients and prospects.  Prior to Peapack-Gladstone Bank, he most recently served at KeyBank N.A. as Senior Vice President, Commercial Banking, where he actively managed client portfolios and the generation of new client relationships. 
 

Peapack-Gladstone Bank Announces Enhancements to its Personal Banking Division

Posted June 28, 2022

Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce enhancements to its personal banking division, designed to elevate and support the ultimate client experience.  
 

Donna M. Aldredge has been elevated to the position of Vice President, Head of Retail Client Service and Training.  She is responsible for identifying, preparing, and delivering training on service protocols for the Bank’s network of branches and enhancing “Voice of the Client” initiatives.

Joining the Bank in 2014, Donna previously served as Vice President/Retail Support and Training Manager.  Prior to that as Vice President and Branch Manager, Donna was responsible for overseeing operations and delivering superior client service while offering a wide variety of financial products and solutions to her client base.  Ms. Aldredge has 29 years of financial services experience having held previous positions as Vice President and Manager at Wells Fargo in Warren, NJ and in a similar role at Wachovia/Wells Fargo, Basking Ridge/Liberty Corner. In addition, she held positions at United Jersey Bank, Summit Bank and Fleet as a Learning Consultant/Curriculum Designer and Call Center Manager in Dayton and Bordentown.

Ms. Aldredge graduated from Kean University with a Bachelor of Arts Degree in Education and Psychology and holds teaching certification grades Pre-K through 8. 

Ana L. Risoli has been elevated to Vice President, Branch Distribution Manager.  In this role Ana is responsible for the Bank’s branch network, supervising all retail private bankers and branch managers.  Joining Peapack-Gladstone Bank in 2014, Ana previously held the role of Vice President, Branch Manager at the Bank’s Bernardsville and Morristown locations.  In previous roles she served as Store Manager at Wells Fargo Bank in Bernardsville, NJ; Senior Mortgage Consultant for Equity Source Home Loans; Senior Mortgage Account Executive at New York Mortgage Company, and Mortgage Consultant at Access Mortgage Company.


Archives

Posted on December 22, 2021 - Peapack-Gladstone Bank Gives Back this Holiday Season

Posted December 16, 2021 - Peapack-Gladstone Bank’s Return of the Boonton Christmas Tree Sale Supports nourish.NJ

Posted December 1, 2021 - Peapack-Gladstone Bank Hires Katherine M. Dickenson, Esq. as Senior Managing Director, Assistant General Counsel

Posted December 1, 2021 - Peapack-Gladstone Bank Earns 2021 Best Banks to Work For Recognition

Posted November 18, 2021 - Peapack-Gladstone Bank Celebrates Company’s 100th Anniversary through Volunteerism

Posted November 18, 2021 - Brandon J. Smith Joins Peapack Capital as Senior Vice President, Head of Asset Management

Posted November 18, 2021 - Peapack-Gladstone Bank Hires Brenda Boyce, Vice President, Senior Credit Underwriter at Peapack Capital

Posted November 8, 2021 - Peapack-Gladstone Bank Brings Back Boonton Christmas Tree Sale Tradition

Posted October 28, 2021 Peapack-Gladstone Bank Corporation Reports Third Quarter Results, as Record Wealth Management Fee Income Drives Total Fee Income to 34% of Total Revenue

Posted September 1, 2021 Peapack-Gladstone Bank Hires Senior Managing Director, Market President

Posted July 28, 2021 Peapack-Gladstone Financial Corporation Reports Strong Second Quarter Results, Driven By Increased Wealth Management Fee Income, Strong Loan Growth And Margin Expansion

Posted July 1, 2021 Peapack Private Wealth Management Acquires Princeton Portfolio Strategies Group

Posted May 27, 2021 Peapack-Gladstone Bank Hires Senior Vice President, Director of Residential and Consumer Lending

Posted May 12, 2021 Peapack-Gladstone Financial Corporation to Acquire Princeton Portfolio Strategies Group

Posted April 27, 2021 Peapack-Gladstone Financial Corporation Declares Quarterly Cash Dividend

Posted April 26, 2021 Jacqueline Reyes is promoted to Senior Vice President, BSA/AML/OFAC Officer at Peapack-Gladstone Bank

Posted April 19, 2021 Peapack-Gladstone Bank Turns 100 in 2021

Posted April 12, 2021 Peapack-Gladstone Bank Now Open in Boonton, NJ

Posted March 16, 2021 Peapack-Gladstone Bank to Open a New Location

Posted February 10, 2021 Peapack Private Investment Banking Advises on the Sale of Randall Farms

Posted February 2, 2021 Peapack Gladstone Financial Corporation Reports Fourth Quarter and Full Year Results and Announces a 5% Stock Repurchase Program















Posted December 23, 2019 Douglas L. Kennedy, President and CEO of Peapack-Gladstone Bank Appointed to Federal Reserve Bank of New York Board of Directors















Posted January 24, 2019 Peapack-Gladstone Bank Announces New Hires