STOCK TITAN
  1. Home
  2. Sec-filings
  3. PGC
  4. [8-K/A] PEAPACK GLADSTONE FINANCIAL CORP Amends Material Event Report

Q1 2026 book value restated at Peapack-Gladstone (NASDAQ: PGC)

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
8-K/A

Rhea-AI Filing Summary

Peapack-Gladstone Financial Corporation filed an amended report to correct first quarter 2026 equity metrics. The company discovered an error in how a March 2026 preferred stock issuance was treated when calculating book value and related ratios.

As of March 31, 2026, book value per common share was revised from $39.48 to $37.79, tangible book value per common share from $37.02 to $35.33, and tangible equity to tangible assets from 8.56% to 8.17%. The company states this correction does not affect reported net income, operating results, cash flows, or regulatory capital ratios.

The filing notes that Peapack-Gladstone had total assets of $7.7 billion and assets under management and/or administration of $13.1 billion as of March 31, 2026, reflecting the scale of its banking and wealth management operations.

Positive

  • None.

Negative

  • None.

Insights

PGC corrects Q1 2026 equity metrics; earnings unchanged.

Peapack-Gladstone revised its first quarter 2026 book value figures after misclassifying a March 2026 preferred stock issuance in per-share equity calculations. The correction lowers book value and tangible book value per share, as well as the tangible equity to tangible assets ratio.

Revised metrics include book value per common share of $37.79 instead of $39.48, tangible book value per common share of $35.33 instead of $37.02, and tangible equity to tangible assets of 8.17% instead of 8.56% as of March 31, 2026. The company states that net income, operating results, cash flows, and regulatory capital ratios are unaffected.

This keeps the issue confined to equity and capital presentation rather than underlying performance. Future quarterly and annual disclosures will show the corrected starting point for book value-based measures.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Revised book value per common share $37.79 per share As of March 31, 2026, after correction from $39.48
Revised tangible book value per share $35.33 per share As of March 31, 2026, after correction from $37.02
Revised tangible equity to tangible assets 8.17% As of March 31, 2026, after correction from 8.56%
Total assets $7.7 billion As of March 31, 2026
Assets under management/administration $13.1 billion As of March 31, 2026
tangible book value per common share financial
"Tangible book value per common share has been revised from $37.02 to $35.33"
A per-share measure of the company’s tangible net asset value available to common shareholders after removing intangible items (like goodwill, brand value, and patents) and any preferred shareholder claims. Think of it as the amount each common share would get if the company sold only its physical and financial assets and settled priority claims. Investors use it as a conservative baseline to judge whether a stock is cheaply priced relative to the company’s hard-asset backing.
tangible equity to tangible assets financial
"Tangible equity to tangible assets has been revised from 8.56% to 8.17%"
preferred stock issuance financial
"The error relates to the treatment of the preferred stock issuance that occurred in March 2026"
regulatory capital ratios financial
"does not impact any other information ... including the Company’s reported net income ... or regulatory capital ratios"
Regulatory capital ratios are measures showing how much capital a bank or regulated financial firm holds compared with the size and riskiness of its assets, with risky loans counted more heavily than safe ones. Investors watch them because they indicate the firm's ability to absorb losses without needing emergency funding or forced asset sales; think of them like a household's emergency fund relative to its debts, signaling financial resilience.
Understanding 8-K Material Events →
0001050743false00010507432026-04-222026-04-22

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

____________

 

FORM 8-K/A

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of report (Date of earliest event reported)

April 22, 2026

 

PEAPACK-GLADSTONE FINANCIAL CORPORATION

(Exact Name of Registrant as Specified in Charter)

 

New Jersey

001-16197

22-3537895

(State or Other Jurisdiction

(Commission

(I.R.S. Employer

  of Incorporation)

File Number)

Identification No.)

 

 

 

500 Hills Drive, Suite 300, Bedminster, New Jersey

07921

(Address of Principal Executive Offices)

(Zip Code)

 

Registrant’s telephone number, including area code

(908) 234-0700

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common Stock, no par value

 

PGC

 

The NASDAQ Stock Market, LLC

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

 

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

 

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

 

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).

Emerging growth company ☐

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act. ☐

 

 

 

Explanatory Note

Item 2.02 Results of Operations and Financial Condition.

On April 24, 2026, Peapack-Gladstone Financial Corporation (the "Company") issued a correction to the press release and to its supplemental investor presentation, each of which were issued on April 22, 2026, and related to earnings and other financial results for the three months ended March 31, 2026. A copy of the corrected press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated by reference in its entirety.

The information disclosed under this Item 2.02, including Exhibit 99.1, shall be considered “furnished” but not “filed” for purposes of the Securities Exchange Act of 1934, as amended.

 

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

 

Title

 

 

 

99.1

 

Press Release dated April 24, 2026.

 

 

 

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PEAPACK-GLADSTONE FINANCIAL CORPORATION

Dated: April 24, 2026

By:

/s/ Frank A. Cavallaro

Frank A. Cavallaro

Senior Executive Vice President and Chief Financial Officer

 

Exhibit 99.1

Contact:

Frank A. Cavallaro, SEVP and CFO

Peapack-Gladstone Financial Corporation

T: 908-306-8933

 

PEAPACK-GLADSTONE FINANCIAL CORPORATION

REPORTS CORRECTION TO FIRST QUARTER FINANCIAL RESULTS

 

Bedminster, N.J. – April 22, 2026 – Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") reported its first quarter 2026 financial results in its press release (the “Earnings Release”) and a supplemental investor presentation (the “Investor Presentation”), each of which were dated April 22, 2026. Subsequent to the issuance of the Earnings Release, the Company identified an error in the calculation of its reported book value per share and tangible book value per share and related capital ratios. The error relates to the treatment of the preferred stock issuance that occurred in March 2026, which should have been deducted when calculating book value per share and tangible book value per share.

 

Accordingly, as of March 31, 2026:

•
Book value per common share has been revised from $39.48 to $37.79;
•
Tangible book value per common share has been revised from $37.02 to $35.33; and
•
Tangible equity to tangible assets has been revised from 8.56% to 8.17%.

 

This correction does not impact any other information in the Earnings Release or the Investor Presentation, including the Company’s reported net income, operating results, cash flows, or regulatory capital ratios for the period.

 

ABOUT THE COMPANY

Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $7.7 billion and assets under management and/or administration of $13.1 billion as of March 31, 2026. Founded in 1921, Peapack Private Bank & Trust, a subsidiary of Peapack-Gladstone Financial Corporation, is a commercial bank that offers a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial and retail solutions. 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 to establish, maintain and expand their legacy. Peapack Private Bank & Trust offers an unparalleled commitment to client service. Visit www.peapackprivate.com for more information.

 

 

1

Source: View Original Filing on SEC EDGAR

FAQ

What did Peapack-Gladstone (PGC) correct in its Q1 2026 results?

Peapack-Gladstone corrected its Q1 2026 book value and related ratios. An error in handling a March 2026 preferred stock issuance overstated book value per share, tangible book value per share, and tangible equity to tangible assets, which have now been revised downward.

How did Peapack-Gladstone’s book value per share change after the correction?

Book value per common share as of March 31, 2026 was revised from $39.48 to $37.79. The change stems from adjusting for a March 2026 preferred stock issuance that should have been deducted in calculating per-share equity measures.

What is Peapack-Gladstone’s revised tangible book value per share for Q1 2026?

Tangible book value per common share as of March 31, 2026 was revised from $37.02 to $35.33. This adjustment reflects correcting the treatment of the March 2026 preferred stock issuance in the tangible equity calculations used for per-share reporting.

How was Peapack-Gladstone’s tangible equity to tangible assets ratio affected?

The tangible equity to tangible assets ratio as of March 31, 2026 was revised from 8.56% to 8.17%. This lower ratio results from properly deducting the March 2026 preferred stock issuance when determining tangible equity relative to tangible assets.

Did the correction affect Peapack-Gladstone’s net income or regulatory capital ratios?

The company states the correction does not affect net income, operating results, cash flows, or regulatory capital ratios. Only book value per share, tangible book value per share, and the tangible equity to tangible assets ratio were revised for the March 31, 2026 figures.

What is the size of Peapack-Gladstone’s balance sheet and assets under management?

As of March 31, 2026, Peapack-Gladstone reported total assets of $7.7 billion and assets under management and/or administration of $13.1 billion. These figures highlight the scale of its commercial banking and wealth management operations in New Jersey and related markets.

Filing Exhibits & Attachments

2 documents

Press Releases

Other Documents