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Peapack-Gladstone Finl Corp - PGC STOCK NEWS

Welcome to our dedicated page for Peapack-Gladstone Finl news (Ticker: PGC), a resource for investors and traders seeking the latest updates and insights on Peapack-Gladstone Finl stock.

Overview

Peapack-Gladstone Financial Corp is a storied institution operating as a bank holding company with a rich heritage dating back to 1921. Known for its client-centric approach and commitment to integrity and trust, the company has built its reputation by offering commercial banking, asset management, and wealth management services. It serves a broad range of business clients, non-profits, and individual consumers, ensuring tailored financial solutions that help establish and preserve legacies.

Banking Services

The Banking segment of Peapack-Gladstone Financial Corp offers comprehensive commercial lending solutions, including commercial real estate, multifamily, residential, and consumer loans. Through deposit services and an advanced online platform, the company delivers a seamless banking experience that caters to both personal and business requirements. By focusing on robust deposit generation and leveraging internet banking services, the company sustains a diversified revenue model and maintains high operational efficiency.

Asset and Wealth Management

Peapack Private, the specialized division of the company, is dedicated to asset and wealth management for both individuals and institutions. This division extends personalized trust services, financial planning, and investment advisory services that include non-deposit investment products subject to market risks. The structure of this division enables clients to benefit from customized financial strategies and trust administration, all conducted with a strong focus on discretion and professional expertise.

Private Investment Banking

Complementing its traditional banking operations, Peapack-Gladstone Financial Corp also provides investment banking services through Peapack Private Investment Banking. The division offers corporate advisory services and direct lending solutions, assisting middle-market companies and their owners with sophisticated financial strategies. Their comprehensive approach not only facilitates smooth complex transactions but also reinforces the company’s reputation in executing meticulous advisory roles in varied industries.

Commitment to Client Service

The company’s operational model is deeply rooted in an unwavering commitment to personalized client service. With private banking locations in Bedminster, Morristown, Princeton, and Teaneck, and a seamlessly integrated online presence, it ensures that clients receive tailored advice and support. This commitment to excellence is reflected in every interaction, upholding the values of integrity and professionalism that have defined the firm for over a century.

Market Position and Differential

Positioned as a high-performing boutique bank, Peapack-Gladstone Financial Corp stands out within the competitive landscape of financial services. While many institutions offer similar products, this firm distinguishes itself through its intricate blend of commercial banking expertise, advanced asset management solutions, and strategic investment banking services. Its dual focus on traditional lending and innovative financial advisory enables it to serve a diverse clientele while managing a balanced portfolio of deposit and non-deposit offerings. This multifaceted approach reinforces its standing as a trusted and knowledgeable partner in navigating complex financial environments.

Overall, Peapack-Gladstone Financial Corp exemplifies a balanced and methodical approach to banking and wealth management. It successfully integrates its long-established roots with innovative services, ensuring that every client—from large institutions to individual account holders—receives actionable, expert guidance geared toward preserving and growing their financial legacy.

Rhea-AI Summary

Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announced the appointment of Michael E. DiNizo as Senior Managing Director, Commercial Private Banker. With over 27 years of financial services experience, he aims to enhance the bank's presence in the Commercial and Industrial sector. Prior to this role, DiNizo was at Capital One Bank, where he led client portfolio growth and received multiple accolades. Peapack-Gladstone, founded in 1921, has total assets of $6.0 billion and wealth management assets totaling $7.6 billion as of September 30, 2020.

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Peapack-Gladstone Financial Corporation (PGC) reported its third quarter 2020 results, revealing total revenue of $52.36 million and net income of $13.55 million, with diluted EPS of $0.71. Year-to-date revenue increased 11% to $143.22 million, despite a 34% decline in net income compared to 2019, driven by a $30.05 million provision for loan losses stemming from COVID-19 impacts. The company generated a $7.4 million gain from selling $355 million of PPP loans, while reporting strong deposit growth of 15% year-over-year.

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Peapack-Gladstone Financial Corporation (PGC) has appointed Michael J. Mulcahy as Senior Managing Director, responsible for nurturing and expanding a portfolio of commercial clients. Previously at Capital One Bank, Mulcahy generated over $2MM in annual revenue and earned recognition as the No. 3 banker in the country in 2017. His extensive experience includes senior roles at Bank of America, PNC Bank, and JP Morgan Chase, showcasing a history of high performance and client portfolio management. Peapack-Gladstone Bank, founded in 1921, has $6.3 billion in assets and offers comprehensive financial solutions.

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Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announces the appointment of Elisa DePalma as Senior Vice President, Head of Commercial Closing, Credit Risk Management. Based in Teaneck, she will enhance the Commercial Closing Department by overseeing loan processes and improving client service across various banking sectors. DePalma has a rich background, previously serving at Capital One and Citigroup, managing significant commercial loans. Peapack-Gladstone, with total assets of $6.3 billion, continues to strive for innovative banking solutions.

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Peapack-Gladstone Bank has sold $354.9 million in Paycheck Protection Program loans to The Loan Source, Inc., anticipating a pre-tax gain of approximately $7.4 million for the current quarter. Post-sale, the bank will retain around $203.5 million in PPP loans, with most exceeding $2 million in original principal. This strategic move aims to enable a return to normal operations, allowing staff to focus on traditional lending while leveraging The Loan Source’s expertise in loan servicing.

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Peapack-Gladstone Financial Corporation (PGC) reported its Q2 2020 financial results, showcasing a revenue of $90.87 million and net income of $9.62 million. This represents an increase in revenue from $84.04 million in 2019, but a significant drop in net income from $22.98 million, primarily due to a $24.90 million provision for loan losses related to the COVID-19 pandemic. Despite challenges, the company managed a strong performance in wealth management, with fees increasing to $10 million. Additionally, PGC supported local businesses through PPP loans totaling approximately $600 million, aiding around 50,000 jobs.

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Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has expanded its credit risk team with the appointment of two new members, Margaret Kot and Victoria Knipe, to support the growth of Peapack Capital, its equipment finance and leasing subsidiary. Peapack Capital has achieved over $650 million in net assets since its inception in April 2017. The Bank, with total assets of $5.8 billion, offers diverse financial solutions, including equipment financing ranging from $3 million to $30 million for corporate clients across the U.S.

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Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has filed a Form S-3 Registration Statement to register up to $100 million in shares for future issuance. This Shelf Registration allows for flexibility in capital raising when needed. CEO Doug Kennedy emphasized that there are no immediate plans to access the capital markets and that any future capital issuance will be carefully considered. As of March 31, 2020, the company reports total assets of $5.8 billion and AUM/AUA of $6.4 billion, highlighting its robust financial position.

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Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announced its Q1 2020 financial results, reporting revenue of $46.26 million and a net income of $1.37 million, down from $11.43 million in Q1 2019. The decline was primarily driven by a $20 million provision for loan losses due to the COVID-19 pandemic. While net interest income increased by 6% year-over-year, the diluted EPS fell to $0.07 from $0.58. The company successfully assisted over 2,000 businesses with nearly $600 million in Paycheck Protection Program loans, preserving approximately 50,000 jobs.

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FAQ

What is the current stock price of Peapack-Gladstone Finl (PGC)?

The current stock price of Peapack-Gladstone Finl (PGC) is $25.39 as of April 4, 2025.

What is the market cap of Peapack-Gladstone Finl (PGC)?

The market cap of Peapack-Gladstone Finl (PGC) is approximately 445.2M.

What are the main business segments of Peapack-Gladstone Financial Corp?

The company operates through two primary segments: the Banking segment, which focuses on loans, deposits, and various lending solutions, and the Peapack Private division, which provides asset management, trust services, and financial advisory.

How does Peapack-Gladstone deliver its banking services?

The company offers a blend of conventional branch-based services and advanced online banking platforms, ensuring a comprehensive range of deposit, lending, and internet banking services tailored to both individuals and businesses.

What distinguishes the wealth management services offered by Peapack-Gladstone?

Its wealth management services are personalized and extend beyond traditional banking, providing asset management, financial planning, and trust services designed to preserve and expand the financial legacy of its clients.

What kind of lending solutions does the Banking segment provide?

The Banking segment offers a wide range of lending products including commercial real estate loans, multifamily financing, residential loans, and consumer lending, all developed to support diverse financial needs.

How does Peapack Private Investment Banking fit into the overall structure?

Peapack Private Investment Banking offers specialized corporate advisory services and direct lending solutions, assisting middle-market companies with complex financial transactions and strategic growth initiatives.

What values and characteristics have defined Peapack-Gladstone over its history?

The company has built a reputation based on integrity, personalized service, and a commitment to innovative financial solutions, establishing itself as a trusted partner for clients for over a century.

What industries and client types does the company serve?

Peapack-Gladstone serves a broad spectrum of clients including businesses, non-profit organizations, and individual consumers, offering services that cater to commercial, institutional, and personal financial needs.

How does the company differentiate itself in a competitive market?

By integrating traditional commercial banking with tailored wealth management and strategic investment banking services, Peapack-Gladstone offers a multifaceted approach that emphasizes quality client service, experienced advisory, and innovative financial solutions.
Peapack-Gladstone Finl Corp

Nasdaq:PGC

PGC Rankings

PGC Stock Data

445.18M
15.68M
10.81%
79.99%
2.99%
Banks - Regional
Commercial Banks, Nec
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United States
BEDMINSTER