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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) has successfully acquired Princeton Portfolio Strategies Group (PPSG) as of July 1, 2021. This acquisition marks the eighth for the company in six years, contributing an additional $520 million in assets under management. Peapack Private, the bank’s wealth management division, enhances its offerings with this strategic move, aiming to meet the growing demand for tailored wealth management solutions. With a market value of approximately $9.4 billion in assets under administration, the acquisition aligns with Peapack's commitment to expand its reach in Mercer County.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has announced the appointment of Neil Viotto as Senior Vice President, Director of Residential and Consumer Lending. He will oversee residential and consumer lending operations, including loan origination management and new business development, from the headquarters in Bedminster, NJ. With over 29 years in the industry, Viotto previously held key positions at Somerset Savings Bank and Superior Mortgage Corp, enhancing operational efficiency and customer service. As of March 31, 2021, the corporation holds total assets of $6.0 billion.
Peapack-Gladstone Financial Corporation (PGC) announced its agreement to acquire Princeton Portfolio Strategies Group, LLC (PPSG), which manages approximately $550 million in assets. This acquisition aims to enhance earnings immediately and will integrate PPSG into Peapack Private, the bank's wealth management division. The transaction, expected to close in Q3 2021, is the bank's eighth acquisition since 2015. Peapack-Gladstone, with total assets of $6 billion and $9.4 billion in assets under management, aims to bolster its market presence through this strategic move.
Peapack-Gladstone Financial Corporation (PGC) reported Q1 2021 results with total revenue of $49.61 million, up from $46.27 million in Q1 2020, representing a 7% increase. Net income surged to $13.18 million with diluted EPS at $0.67, up 864% from $0.07 a year ago. The quarter benefitted from increased wealth management and capital markets income, alongside a significantly reduced provision for loan losses of $225,000 compared to $20 million in the previous year. The company also repurchased 158,033 shares under its stock buyback program.
Peapack-Gladstone Financial Corporation (PGC) has declared a quarterly cash dividend of $0.05 per share, set to be paid on May 25, 2021, to shareholders recorded by May 11, 2021. As of December 31, 2020, the company reported total assets of $5.9 billion and assets under management of $8.8 billion. Established in 1921, Peapack-Gladstone Bank focuses on wealth management, commercial, and retail banking services, striving to provide exceptional client service.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has elevated Jacqueline Reyes to senior vice president of BSA/AML/OFAC at Peapack-Gladstone Bank. With over 21 years in NJ banking, she previously served as assistant BSA and AML officer. Reyes has managed compliance programs as assets grew from $2.7 billion in 2015 to $5.9 billion as of December 2020. She holds an ACAMS designation and completed the bank's Emerging Leaders Program, receiving the NJBankers New Leaders in Banking Award in 2017.
Peapack-Gladstone Financial Corporation (PGC) is celebrating the 100th Anniversary of Peapack-Gladstone Bank on September 12, 2021. Throughout the year, the Bank will commemorate this milestone by sharing its history, which emphasizes its values of integrity and trust. To honor Dr. Susan Cole's retirement, the Bank has pledged a $100,000 donation to create a scholarship fund for students. The Bank continues to focus on providing value-added banking solutions, aiming to support its communities during these challenging times.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has opened its 20th branch in Boonton, NJ, enhancing its presence in the community. The new full-service location offers various banking solutions, including personal and business services, wealth management, and lending. Open Monday to Saturday, it features remote appointment options and COVID-19 safety measures. To attract new clients, the branch provides a $100 gift card to local restaurants for those opening eligible accounts. Peapack-Gladstone has over $5.9 billion in total assets and aims to continue its commitment to exceptional client service.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announces the promotion of Matthew Remo to Senior Vice President, Director of Strategy and Development at Peapack-Gladstone Bank. Remo’s responsibilities include developing business strategy and managing enterprise risk activities. His prior experience includes significant roles at the Federal Reserve Bank of New York and the bank’s Paycheck Protection Program. Peapack-Gladstone Financial reported total assets of $5.9 billion and wealth management assets of $8.8 billion as of December 31, 2020.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) is expanding its retail presence with a new branch in Boonton, NJ, marking its 20th location. The new facility, scheduled to open in early April 2021, will provide a full range of banking services including personal, business banking, and wealth management. The site is also the hub for the Bank’s Professional Services division. Celebrating a century in business, Peapack-Gladstone aims to enhance community-focused financial solutions during challenging times.
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