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Peapack Private Wealth Management Acquires Princeton Portfolio Strategies Group

Posted July 1, 2021
Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC), parent company of Peapack-Gladstone Bank, finalized the acquisition of Princeton, NJ-based Princeton Portfolio Strategies Group (PPSG) effective July 1, 2021.

The acquisition, the eighth for the Bank over the last six years, represents an additional $520 million in assets under management (AUM), and aligns PPSG with Peapack Private, the Bank’s wealth management division, one of the largest trust companies and wealth managers in NJ, with a market value of approximately $9.4 billion of assets under administration (AUA) at March 31, 2021.

The purchase elevates Peapack Private’s overall delivery of wealth management and customized portfolio management solutions and expands the broad range of experience its team of wealth advisors, trust officers and portfolio managers provide to clients looking to create, manage, increase and protect their wealth.

Peapack-Gladstone Bank Announces Promotions

Posted June 1, 2021
Molly Basehore has been promoted to Managing Director, Treasury Management & Escrow Sales at Peapack-Gladstone Bank. She joined the Bank in 2017 previously serving as Assistant Vice President, Treasury Management & Escrow Sales and as Client Service Officer in the Platinum Service Team. Prior to that Molly held the position of Student Success Advisor at UNC Wilmington.

Linda Brookes Green has been promoted to Assistant Vice President, Payroll Manager/Compensation Administrator at Peapack-Gladstone Bank, managing the Human Resources information system, payroll processing and compensation data.

Lindsey Ann Groves has been promoted to Vice President, Credit Risk Portfolio Manager at Peapack-Gladstone Bank. Lindsey is responsible for the management and monitoring of the Company’s small business loan portfolios, ensuring compliance with Bank policy and regulatory requirements.
 

Peapack-Gladstone Bank Hires Senior Vice President, Director of Residential and Consumer Lending


Posted May 27, 2021
Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank announce the appointment of Neil Viotto, Senior Vice President, Director of Residential and Consumer Lending. Operating out of the Bank’s Headquarters in Bedminster, NJ, Mr. Viotto is responsible for both residential and consumer lending, management of the loan origination team, and new business development and underwriting.

With more than 29 years of industry experience, Neil most recently served as Vice President, Mortgage Originations Manager, Compliance Officer at Somerset Savings Bank, SLA, Bound Brook, NJ, where he streamlined the online mortgage application system while overseeing all aspects of the mortgage process from underwriting to processing and closing. 



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


Posted May 12, 2021
Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC), parent company of Peapack-Gladstone Bank announced today that it has entered into an agreement to acquire Princeton, NJ-based Princeton Portfolio Strategies Group, LLC (“PPSG”), with assets under management of approximately $550 million. The Company anticipates the purchase will be immediately accretive to earnings. The transaction is expected to close in the third quarter of 2021, subject to the receipt of regulatory approval and other customary closing conditions.

PPSG, who will become part of Peapack Private, the wealth management division of the Bank, has been delivering wealth management services and customized portfolio management solutions to individuals and institutions since 2011. Their team of professionals has broad experience in advising and investing, and a long history of coordinating financial solutions with clients’ attorneys, accountants, and other professionals.


Peapack-Gladstone Financial Corporation Reports Strong First Quarter Results, Driven By Noninterest Income Totaling 36% Of Total Revenue


Posted April 29, 2021
The Company recorded total revenue of $49.61 million, net income of $13.18 million and diluted earnings per share (“EPS”) of $0.67 for the quarter ended March 31, 2021, compared to $46.27 million, $1.37 million and $0.07, respectively, for the same three month period ended March 31, 2020.

The 2021 quarter included increased noninterest income, principally wealth management income and income from capital markets activities (which includes mortgage banking income, loan level back-to-back swap income, SBA loan income, and corporate advisory fee income). The 2021 quarter also included a significantly reduced provision for loan losses when compared to the same quarter last year. 

Peapack-Gladstone Financial Corporation Declares Quarterly Cash Dividend


Posted April 27, 2021
Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market:PGC) announced on April 27, 2021 that its Board of Directors has declared a regular quarterly cash dividend of $0.05 per share on its common stock. The dividend will be paid on May 25, 2021 to shareholders of record as of May 11, 2021.
 
Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $5.9 billion and assets under management/administration of $8.8 billion as of December 31, 2020.

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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

Posted January 17, 2019 Peapack-Gladstone Bank Hires Paul Boudreau