Welcome to our dedicated page for Peapack-Gladstone Financial news (Ticker: PGC), a resource for investors and traders seeking the latest updates and insights on Peapack-Gladstone Financial stock.
Peapack-Gladstone Financial Corp (PGC) is a well-established New Jersey bank holding company founded in 1921 and operates primarily through its subsidiary, Peapack-Gladstone Bank. The bank provides a comprehensive suite of commercial and private banking services to businesses, non-profits, and consumers. With a focus on high-quality client service and integrity, the bank has built a reputation for excellence in wealth management, lending, and deposit solutions.
The company operates through two main segments: Banking and Peapack Private. The Banking segment delivers a range of services including commercial real estate loans, multifamily and residential lending, consumer loans, deposit generation, and internet banking services. The Peapack Private division offers asset management services, personal trust services, administration, custody, guardianship, and other financial planning and advisory services for individuals and institutions.
Peapack-Gladstone Bank maintains several private banking locations in Bedminster, Morristown, Princeton, and Teaneck, New Jersey. It is known nationally for its unparalleled client service and trust. The bank also offers its high-performing boutique banking services through an extensive retail network and online platforms.
Recent achievements highlight the promotion of Heather Gibbs to Senior Vice President, Enterprise Risk and Information Security Officer. In addition, the bank is expanding its footprint into New York City with the active recruitment of experienced financial professionals. Under the leadership of Jeanne Scungio, the bank aims to bring its distinctive private banking services to the competitive New York marketplace.
Moreover, Peapack Private Investment Banking continues to make significant strides, recently participating in the successful transition of Super Stud Building Products Inc. to EB Metals Inc. This move demonstrates the bank's commitment to growing middle-market companies and ensuring the legacy of their clients is preserved and expanded.
As of March 31, 2023, Peapack-Gladstone Financial Corporation boasts total assets of $6.5 billion and assets under management and/or administration of $10.4 billion. The company’s strategic approach and diverse service offerings position it as a leader in the industry, redefining client-centric banking and wealth management solutions.
For more information, visit their websites at www.pgbank.com and www.peapackprivate.com.
Peapack-Gladstone Financial Corporation (PGC) reported strong financial results for Q1 2023, achieving total revenue of $62.0 million, a 37% increase in net income to $18.4 million, and a diluted EPS of $1.01. The company's return on average assets and equity improved to 1.16% and 13.50%, respectively. Net interest income rose by 11% year-over-year, although it fell by 8% from the previous quarter due to margin compression. Deposits grew by $104 million, while liquidity remained robust at $851 million. The company authorized a 5% stock repurchase program for up to 890,000 shares to enhance shareholder value. Despite industry challenges, PGC is positioned for future growth with a healthy pipeline in wealth management and commercial banking.
On April 17, 2023, Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announced the appointment of Daniel P. Trudo as Senior Managing Director, Commercial Private Banker, based in Teaneck, New Jersey. Trudo will enhance the Bank’s Commercial and Industrial business, focusing on personalized client service and expanding its presence in the Tri-State area. He brings extensive experience from his previous roles at Capital One Bank and Citizens Bank, where he successfully grew revenue through client relationships and new customer acquisition.
Peapack-Gladstone Financial operates with total assets of $6.4 billion and assets under management of $10 billion as of December 31, 2022. The Bank offers a range of financial services, including wealth management and investment banking solutions.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announces the appointment of Dr. Zoya Faynleyb as Senior Vice President and Deputy Chief Risk Officer. Based in Bedminster, NJ, Dr. Faynleyb will oversee compliance with BSA/AML/OFAC regulations and lead the Bank’s Risk Management Program. She brings over 20 years of experience in banking and compliance, previously serving as Director of AML & Sanctions at a Fortune 500 fintech company. Dr. Faynleyb holds an MBA in Banking and Finance and multiple certifications in anti-money laundering and regulatory compliance, enhancing the institution's risk management capabilities.
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