Peapack-Gladstone Bank Announces the Expansion of the Peapack Capital Team to Accommodate Continued Growth

Rhea-AI Summary

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.

Positive

• Peapack Capital has grown to over $650 million in net assets since April 2017.
• New hires are expected to enhance credit risk management and support business growth.

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• None.

Bedminster, NJ, June 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce the addition of two new credit risk team members, hired to support the significant and ongoing growth of Peapack Capital, the Bank’s equipment finance and leasing subsidiary.  

Margaret Kot, who joins the team as vice president, senior underwriter and portfolio manager, has over 20 years of banking experience and has managed credit risk across a broad spectrum of markets and industries, most recently as a senior underwriter at Capital One.  She is based at Peapack Capital’s Bedminster, NJ headquarters. Margaret earned her MBA from Seton Hall and holds RMA’s Credit Risk Certification.

Victoria Knipe joins the team as a credit analyst.  Most recently, Victoria was a business analyst at Trustmark Insurance in Worcester, MA.  She is based in Northboro, MA, and joins the credit team to further support new business underwriting and portfolio management. Victoria graduated from the University of Massachusetts Amherst with a BS in Resource Economics and earned her MBA at Purdue Global University.

“Peapack Capital has grown to over $650MM in net assets since our founding in April 2017,” said Robert R. Cobleigh, President.  “We’re excited to bring Margaret and Victoria on board to round out our skilled credit team.”

Peapack Capital provides equipment and asset financing from $3 million to $30 million, to middle market and large corporate clients across the U.S.  The team specializes in large-scale transactions which help businesses grow and succeed.  With more than 20 years of experience, the Peapack Capital team is a dedicated finance group, experts in various financing structures, able to support a broad spectrum of industries and assets.

Founded in 1921, Peapack-Gladstone Financial Corporation is a NJ bank holding company with total assets of $5.8 billion and wealth management assets under management and/or administration of $6.4 billion as of March 31, 2020.  Peapack-Gladstone Bank is a commercial bank that provides innovative wealth management, commercial and retail solutions, including residential lending and online platforms, to businesses and consumers.  Peapack Private, the Bank’s wealth management division, offers comprehensive financial, tax, fiduciary and investment advice and solutions, to individuals, families, privately held businesses, family offices and not-for-profit organizations, which help them establish, maintain and expand their legacy.  Together, Peapack-Gladstone Bank, Peapack Private and Peapack Capital, offer an unparalleled commitment to client service.  Visit www.pgbank.com and www.peapackprivate.com for more information.

Denise M. Pace-Sanders, Senior Vice President Brand and Marketing Director, dpace@pgbank.com, 908.470.3322, Peapack-Gladstone Bank, 500 Hills Drive, Suite 300, Bedminster, NJ 07921.

Attachment

• PGC.06.30.2020

FAQ

What recent changes occurred at Peapack-Gladstone Financial Corporation (PGC)?

Peapack-Gladstone Financial Corporation has added two new members to its credit risk team to support Peapack Capital's growth.

What is Peapack Capital's asset size as of June 2020?

Peapack Capital has over $650 million in net assets as of June 2020.

What services does Peapack Capital provide?

Peapack Capital provides equipment and asset financing ranging from $3 million to $30 million for middle market and large corporate clients.