Latest news with #Peapack-GladstoneFinancialCorporation
Yahoo
7 days ago
- Business
- Yahoo
A. Michael Smith Joins Peapack Private Bank & Trust as SVP, Chief Audit Executive
BEDMINSTER, NJ - June 5, 2025 (NEWMEDIAWIRE) - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private Bank & Trust are pleased to announce the appointment of A. Michael Smith as Senior Vice President, Chief Audit Executive. In this role, he will lead the Bank's internal audit function and develop strategic initiatives to support its continued growth. A. Michael has over 30 years of experience in auditing, risk management, and technology, with a proven track record of driving innovation and excellence in financial services. Most recently, Smith served as Chief Audit Executive at Nasdaq, where he built a world-class internal audit function and leveraged advanced technologies to manage high-volume transactions across global markets. Prior to that, he was a Partner at PwC, where he led internal audit transformation initiatives through emerging technologies and innovation. His extensive career also includes senior leadership roles at several large financial institutions, and he was also a partner at Deloitte & Touche. Throughout his career, Smith has demonstrated a commitment to elevating internal audit functions to best-in-class standards. A. Michael is the author of Internal Audit of the Future: The Impact of Technology Innovation, a book that explores how technology is reshaping the audit landscape. He also holds a U.S. patent for a novel approach to auditing crypto assets. He is a graduate of Baylor University with a Bachelor of Business Administration, a Certified Public Accountant (CPA), a Certified Information Systems Auditor (CISA), and a Certified Information Systems Security Professional (CISSP). About the Company Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $7.1 billion and assets under management and/or administration of $11.8 billion as of March 31, 2025. Founded in 1921, Peapack Private Bank & Trust 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 personal banking 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 for more information. Contact: Denise Pace-Sanders, Peapack Private Bank & Trust, SVP Managing Principal, Brand and Marketing Director, 500 Hills Drive, Suite 300, Bedminster, NJ 07921, dpace@ (908) 470-3322 View the original release on Sign in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
Tim Juliano Joins Peapack Private Bank & Trust
BEDMINSTER, NJ - May 21, 2025 (NEWMEDIAWIRE) - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private Bank & Trust announce that Tim Juliano has joined the Bank's commercial banking division as a Senior Managing Director based out of its growing Melville, New York location. Tim will lead a team of relationship managers as a group director, responsible for growing Peapack Private's presence on Long Island. With more than 37 years of commercial banking experience, Tim joins from Flagstar Bank where as a senior vice president and managing group director, he was responsible for the overall management of team activities in business development, relationship management and day to day servicing of an existing portfolio of middle market clients, and a portfolio of over 50 relationships, with a peak of $440 million in deposits and $350 million in credit commitments. Prior to Flagstar, he held similar senior leadership level roles at Dime Community Bank, Sterling National Bank, and Capital One Bank. Earlier in his career he was a vice president and finance manager in business financial services with Merrill Lynch. His banking career began with roles at Manufacturers Hanover Trust, Chemical Bank and Chase Manhattan Bank (via mergers), where he was a relationship manager in the business banking space. An ex-captain with the Hauppauge Volunteer Fire Department, Tim has a Bachelor of Arts in economics from the State University of New York Stony Brook. About the Company Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $7.1 billion and assets under management and/or administration of $11.8 billion as of March 31, 2025. Founded in 1921, Peapack Private Bank & Trust 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 personal banking 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 for more information. Contact: Denise Pace-Sanders, Peapack Private Bank & Trust, SVP Managing Principal, Brand and Marketing Director, 500 Hills Drive, Suite 300, Bedminster, NJ 07921, dpace@ (908) 470-3322 View the original release on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-04-2025
- Business
- Yahoo
Peapack Private Bank & Trust Looking Ahead to Long Island
BEDMINSTER, NJ - April 24, 2025 (NEWMEDIAWIRE) - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private Bank & Trust announce active negotiations to open office space in Garden City and Melville, New York, following the successful opening of their mid-town Manhattan commercial and retail space at 300 Park Avenue. The Bank has secured temporary commercial space at 175 Broadhollow Road, Melville, NY, and has now received approval from its Board of Directors to apply for new retail space and continue negotiations for permanent space at 1010 Franklin Avenue in Garden City. Doug Kennedy, President and Chief Executive Officer, stated, "We are continuing our expansion plans in the tri-state area by looking toward Long Island. This is a natural next step for us as we grow our commercial business and attract clients from the area that want direct access to their private banking team." Andrew Corrado, President of Peapack Private's New York office, added, "We've established ourselves in NYC as a viable private bank, able to compete and win against the larger institutions. It's time to turn our attention to Long Island and introduce our brand of private banking to the area. With the recent addition of Joseph Fingerman, President of our Commercial Real Estate division, and his team who will cover the NY metro area, including Long Island, we are poised to continue growing our successful business model." Peapack-Gladstone Financial Corporation, a New Jersey bank holding company, has total assets of $7.1 billion and assets under management and/or administration of $11.8 billion as of March 31, 2025. Founded in 1921, Peapack Private Bank & Trust offers a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial, and personal banking 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, helping them establish, maintain, and expand their legacy. Peapack Private Bank & Trust is committed to unparalleled client service. Visit for more information. Contact: Denise Pace-Sanders, Peapack Private Bank & Trust, SVP Managing Principal, Brand and Marketing Director, 500 Hills Drive, Suite 300, Bedminster, NJ 07921, dpace@ (908) 470-3322 View the original release on Sign in to access your portfolio
Associated Press
23-04-2025
- Business
- Associated Press
Peapack-Gladstone Financial Corporation Reports First Quarter Financial Results
BEDMINSTER, NJ - April 22, 2025 ( NEWMEDIAWIRE ) - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the 'Company') announces its first quarter 2025 financial results. This earnings release should be read in conjunction with the Company's Q1 2025 Investor Update, a copy of which is available on our website via a Current Report on Form 8-K on the website of the Securities and Exchange Commission During the first quarter of 2025, loans grew $236 million, to $5.8 billion, which represents an annualized growth rate of 17%. Core relationship deposit balances (which includes all deposits that are not custodial, brokered, or listing service) increased by $177 million in the first quarter of 2025, contributing to the ongoing enhancement of the Company's total liquidity position, which has improved by $928 million, or 26%, since January 1, 2024. Total deposits increased to $6.3 billion at March 31, 2025. The Company recorded net income of $7.6 million and diluted earnings per share ('EPS') of $0.43 for the quarter ended March 31, 2025 compared to net income of $9.2 million and diluted EPS of $0.52 for the quarter ended December 31, 2024. Net interest income increased $3.6 million, or 9%, on a linked quarter basis to $45.5 million for the first quarter of 2025 compared to $41.9 million for the fourth quarter of 2024. The growth in net interest income was driven by growth in average interest earning assets, as well as continued improvement in the net interest margin. The net interest margin increased to 2.68% for the quarter ended March 31, 2025 compared to 2.46% for the quarter ended December 31, 2024 and 2.20% for the quarter ended March 31, 2024. The Company has also achieved improved positive operating leverage for the second consecutive quarter. Douglas L. Kennedy, President and CEO said, 'Our Metro New York expansion continues to deliver results ahead of expectations. In less than two years since the initial hiring of experienced private banking teams in New York City, we have successfully on-boarded more than $1.2 billion in new core relationship deposit balances which are comprised of 30% in noninterest bearing demand account balances. The positive reception that we have received through these new customer relationships is generating momentum that has us extremely confident about our continued success in this market.' Mr. Kennedy also noted, 'We were also very pleased to announce the opening of our new marquee branch at 300 Park Avenue in New York City during the first quarter. This branch opening at a prime location in mid-town Manhattan combined with our re-branding to Peapack Private Bank & Trust demonstrates the evolution of our Company to become the premier boutique private bank in Metro New York.' The following are select highlights for the period ended March 31, 2025: Wealth Management: Commercial Banking and Balance Sheet Management: Capital Management: SUMMARY INCOME STATEMENT DETAILS: The following tables summarize specified financial details for the periods shown. March 2025 Quarter Compared to Prior Year Quarter March 2025 Quarter Compared to Linked Quarter SUPPLEMENTAL QUARTERLY DETAILS: Wealth Management AUM/AUA in the Bank's Wealth Management Division declined to $11.8 billion at March 31, 2025 compared to $11.9 billion at December 31, 2024. For the March 2025 quarter, the Wealth Management Team generated $15.4 million in fee income, compared to $15.5 million for the December 31, 2024 quarter and $14.4 million for the March 2024 quarter. John Babcock, President of the Bank's Wealth Management Division, noted, 'Q1 2025 saw continued strong client inflows driven by new accounts and client additions of $341 million. Our new business pipeline is healthy, and we continue to remain focused on delivering excellent service and advice to our clients. Our highly skilled wealth management professionals, our fiduciary powers and expertise, our financial planning capabilities combined with our high-touch client service model distinguishes us in our market and continues to drive our growth and success.' Loans / Commercial Banking Total loans increased $236 million, or 4%, to $5.8 billion at March 31, 2025, compared to $5.5 billion at December 31, 2024, primarily driven by commercial and industrial loan originations during the quarter. Total C&I loans and leases at March 31, 2025 were $2.5 billion or 44% of the total loan portfolio. Mr. Kennedy noted, 'The strong loan demand we experienced during the second half of 2024 has carried into the early stages of 2025. We are proud to have built a leading middle-market commercial banking franchise, as evidenced by our C&I loan portfolio and complimented by Treasury Management services, Corporate Advisory and SBA businesses. These business lines fit perfectly with our private banking business model and will continue to generate solid production going forward. During the quarter, we originated loans that carried an average spread of more than 400 basis points above our current cost of funds. Having this capability will help us in the near term as the real estate market adjusts to changing market conditions.' Net Interest Income (NII)/Net Interest Margin (NIM) The Company's NII of $45.5 million and NIM of 2.68% for Q1 2025 increased $3.6 million and 22 basis points from NII of $41.9 million and NIM of 2.46% for the linked quarter (Q4 2024), and increased $11.1 million and 48 basis points from NII of $34.4 million and NIM of 2.20% compared to the prior year period (Q1 2024). Our single point of contact private banking strategy and New York City expansion continues to deliver lower-cost core deposit relationships resulting in consistent improvement in our net interest margin. Funding / Liquidity / Interest Rate Risk Management Total deposits increased $158 million to $6.3 billion at March 31, 2025 from $6.1 billion at December 31, 2024. The overall growth in deposits has strengthened balance sheet liquidity and reduced reliance on outside borrowings and other non-core funding sources. There were no outstanding overnight borrowings at March 31, 2025. At March 31, 2025, the Company's balance sheet liquidity (investments available for sale, interest-earning deposits and cash) totaled $1.1 billion, or 15% of total assets. The Company maintains additional liquidity resources of approximately $3.3 billion through secured available borrowing facilities with the Federal Home Loan Bank and the Federal Reserve Discount Window. The available funding from the Federal Home Loan Bank and the Federal Reserve are secured by the Company's loan and investment portfolios. The Company's total on and off-balance sheet liquidity totaled $4.4 billion at March 31, 2025, which amounts to 283% of the total uninsured/uncollateralized deposits currently on the Company's balance sheet. Income from Capital Markets Activities Noninterest income from Capital Markets activities (detailed below) totaled $455,000 for the March 2025 quarter compared to $114,000 for the December 2024 quarter and $1.3 million for the March 2024 quarter. Other Noninterest Income (other than Wealth Management Fee Income and Income from Capital Markets Activities) Other noninterest income was $3.0 million for Q1 2025 compared to $4.3 million for Q4 2024 and $3.0 million for Q1 2024. Q1 2025 included a loss of $415,000 recorded by the Equipment Finance Division related to equipment transfers to lessees upon the termination of leases, compared to income of $646,000 in Q4 2024 and income of $141,000 in Q1 2024. Additionally, Q1 2025 included $932,000 of unused line fees compared to $880,000 for Q4 2024 and $827,000 for Q1 2024. Q4 2024 also included a one-time fair value adjustment of $953,000 related to the sale of Visa B shares. Operating Expenses Total operating expenses were $49.4 million for the first quarter of 2025, compared to $47.9 million for the fourth quarter of 2024 and $40.0 million for the quarter ended March 31, 2024. The increase during the first quarter of 2025 was primarily driven by expenses associated with the Company's expansion into New York City, increased health insurance costs, and annual merit increases. Mr. Kennedy noted, 'We continue to make investments related to our strategic decision to expand into New York City and are confident that these investments will position us for future growth and profitability, which will ultimately translate to increased shareholder value. We continue to look for opportunities to create efficiencies and manage expenses throughout the Company while investing in enhancements to the client experience.' Income Taxes The effective tax rate for the three months ended March 31, 2025 was 27.3%, as compared to 24.5% for the December 2024 quarter and 30.4% for the quarter ended March 31, 2024. The December 2024 quarter included the impact of discrete, favorable federal return to provision adjustments primarily related to the Company's state tax apportionment rate. Asset Quality / Provision for Credit Losses Nonperforming assets decreased to $97.2 million, or 1.36% of total assets, at March 31, 2025, as compared to $100.2 million, or 1.43% of total assets, at December 31, 2024. Loans past due 30 to 89 days and still accruing increased to $28.3 million, or 0.49% of total loans, at March 31, 2025 compared to $4.9 million, or 0.09% of total loans, at December 31, 2024. The increase in nonperforming assets during the first quarter was driven by four multifamily loans totaling $19.4 million. Criticized and classified loans increased to $217.5 million at March 31, 2025, reflecting an increase of $25.6 million as compared to $191.9 million at December 31, 2024. The Company currently has no loans or leases on deferral and still accruing. For the quarter ended March 31, 2025, the provision for credit losses was $4.5 million compared to $1.8 million for the December 2024 quarter and $615,000 for the March 2024 quarter. The provision for credit losses in the first quarter of 2025 was driven by loan growth and increased charge-offs in addition to deterioration in key economic model drivers. At March 31, 2025, the allowance for credit losses was $75.2 million (1.31% of total loans), compared to $73.0 million (1.32% of total loans) at December 31, 2024, and $66.3 million (1.24% of total loans) at March 31, 2024. Mr. Kennedy noted, 'We continue to closely monitor asset quality metrics. We believe that most of our credit issues in the multifamily loan portfolio are isolated to a small number of specific borrowers and sponsors. We continue to work through each credit individually, while building appropriate reserve coverage. All of the multifamily loans that repriced in 2024 have continued to make their scheduled payments despite the higher rate environment.' Capital The Company's capital position increased during the first quarter of 2025 due to positive movement in accumulated other comprehensive income of $8.7 million related to the fair value of the Company's investment securities portfolio due to the interest rate environment and net income of $7.6 million. Tangible book value per share increased 2% to $32.56 at March 31, 2025 from $31.89 at December 31, 2024. (Tangible book value per share is a non-GAAP financial measure. See the reconciliation tables included in this release for further detail.) Book value per share increased 2% to $35.08 per share at March 31, 2025 compared to $34.45 at December 31, 2024. The Company's and Bank's regulatory capital ratios as of March 31, 2025 remain strong. Where applicable, such ratios remain well above regulatory well capitalized standards. The Company employs quarterly capital stress testing modeling of an adverse case and severely adverse case. In the most recently completed stress test (as of December 31, 2024), the Bank remains well capitalized over a two-year stress period. On March 27, 2025, the Company declared a cash dividend of $0.05 per share payable on May 22, 2025 to shareholders of record on May 8, 2025. ABOUT THE COMPANY Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $7.1 billion and assets under management and/or administration of $11.8 billion as of March 31, 2025. 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 for more information. FORWARD-LOOKING STATEMENTS The foregoing may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's expectations about new and existing programs and products, investments, relationships, opportunities and market conditions. These statements may be identified by such forward-looking terminology as 'expect,' 'look,' 'believe,' 'anticipate,' 'may' or similar statements or variations of such terms. Actual results may differ materially from such forward-looking statements. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to: A discussion of these and other factors that could affect our results is included in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2024. Except as may be required by the applicable law or regulation, we undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Contact: Frank A. Cavallaro, SEVP and CFO Peapack-Gladstone Financial Corporation T: 908-306-8933 (Tables to follow) PEAPACK-GLADSTONE FINANCIAL CORPORATION SELECTED CONSOLIDATED FINANCIAL DATA (Dollars in Thousands, except per share data) (Unaudited) (A) Return on average tangible equity is calculated by dividing tangible equity by annualized net income. See non-GAAP financial measures reconciliation included in these tables. (B) Calculated as total operating expenses as a percentage of total revenue. For non-GAAP efficiency ratio, see the non-GAAP financial measures reconciliation included in these tables. PEAPACK-GLADSTONE FINANCIAL CORPORATION CONSOLIDATED STATEMENTS OF CONDITION (Dollars in Thousands) (Unaudited) (A) FHLB means 'Federal Home Loan Bank' and FRB means 'Federal Reserve Bank.' PEAPACK-GLADSTONE FINANCIAL CORPORATION SELECTED BALANCE SHEET DATA (Dollars in Thousands) (Unaudited) (A) Amounts reflect modifications that are paying according to modified terms. (B) Excludes modifications included in nonaccrual loans of $3.9 million at March 31, 2025, $3.6 million at December 31, 2024, $3.7 million at September 30, 2024, $3.2 million at June 30, 2024 and $3.2 million at March 31, 2024. (C) Excludes a credit of $23,000 at March 31, 2025, a credit of $15,000 at December 31, 2024, a credit of $3,000 at September 30, 2024, a provision of $10,000 at June 30, 2024 and a provision of $12,000 at March 31, 2024 related to off-balance sheet commitments. (D) Total ACL less reserves to loans individually evaluated equals collectively evaluated ACL. PEAPACK-GLADSTONE FINANCIAL CORPORATION SELECTED BALANCE SHEET DATA (Dollars in Thousands) (Unaudited) *Excludes other comprehensive loss of $57.7 million for the quarter ended March 31, 2025, $66.4 million for the quarter ended December 31, 2024, and $67.8 million for the quarter ended March 31, 2024. See Non-GAAP financial measures reconciliation included in these tables. (A) Equity to total assets is calculated as total shareholders' equity as a percentage of total assets at quarter end. (B) Tangible equity and tangible assets are calculated by excluding the balance of intangible assets from shareholders' equity and total assets, respectively. Tangible equity as a percentage of tangible assets at quarter end is calculated by dividing tangible equity by tangible assets at quarter end. See Non-GAAP financial measures reconciliation included in these tables. (C) Book value per common share is calculated by dividing shareholders' equity by quarter end common shares outstanding. (D) Tangible book value per share excludes intangible assets. Tangible book value per share is calculated by dividing tangible equity by quarter end common shares outstanding. See Non-GAAP financial measures reconciliation tables. (E) Regulatory well capitalized standard (including capital conservation buffer) = 4.00% ($282 million) (F) Regulatory well capitalized standard (including capital conservation buffer) = 8.50% ($481 million) (G) Regulatory well capitalized standard (including capital conservation buffer) = 7.00% ($396 million) (H) Regulatory well capitalized standard (including capital conservation buffer) = 10.50% ($594 million) PEAPACK-GLADSTONE FINANCIAL CORPORATION LOANS CLOSED (Dollars in Thousands) (Unaudited) (A) Includes loans and lines of credit that closed in the period but not necessarily funded. (B) Includes equipment finance. PEAPACK-GLADSTONE FINANCIAL CORPORATION AVERAGE BALANCE SHEET (Tax-Equivalent Basis, Dollars in Thousands) (Unaudited) (A) Average balances for available for sale securities are based on amortized cost. (B) Interest income is presented on a tax-equivalent basis using a 21% federal tax rate. (C) Loans are stated net of unearned income and include nonaccrual loans. (D) Net interest income on a tax-equivalent basis as a percentage of total average interest-earning assets. PEAPACK-GLADSTONE FINANCIAL CORPORATION AVERAGE BALANCE SHEET (Tax-Equivalent Basis, Dollars in Thousands) (Unaudited) (A) Average balances for available for sale securities are based on amortized cost. (B) Interest income is presented on a tax-equivalent basis using a 21% federal tax rate. (C) Loans are stated net of unearned income and include nonaccrual loans. (D) Net interest income on a tax-equivalent basis as a percentage of total average interest-earning assets. PEAPACK-GLADSTONE FINANCIAL CORPORATION NON-GAAP FINANCIAL MEASURES RECONCILIATION Tangible book value per share and tangible equity as a percentage of tangible assets at period end are non-GAAP financial measures derived from GAAP-based amounts. We calculate tangible equity and tangible assets by excluding the balance of intangible assets from shareholders' equity and total assets, respectively. We calculate tangible book value per share by dividing tangible equity by common shares outstanding, as compared to book value per common share, which we calculate by dividing shareholders' equity by common shares outstanding at period end. We calculate tangible equity as a percentage of tangible assets at period end by dividing tangible equity by tangible assets at period end. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. The efficiency ratio is a non-GAAP measure of expense control relative to recurring revenue. We calculate the efficiency ratio by dividing total noninterest expenses, excluding other real estate owned provision, as determined under GAAP, by net interest income and total noninterest income as determined under GAAP, but excluding net gains/(losses) on loans held for sale at lower of cost or fair value and excluding net gains on securities from this calculation, which we refer to below as recurring revenue. We believe that this provides a reasonable measure of core expenses relative to core revenue. We believe these non-GAAP financial measures provide information that is important to investors and useful in understanding our financial position, results and ratios because our management internally assesses our performance based, in part, on these measures. However, these non-GAAP financial measures are supplemental and are not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titles measures reported by other companies. A reconciliation of the non-GAAP measures of tangible common equity, tangible book value per share and efficiency ratio to the underlying GAAP numbers is set forth below. (Dollars in thousands, except per share data) (Dollars in thousands) (Dollars in thousands) View the original release on
Associated Press
21-04-2025
- Business
- Associated Press
Peapack Private Bank & Trust Now Open in NYC
BEDMINSTER, NJ - April 21, 2025 ( NEWMEDIAWIRE ) - Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private Bank & Trust are excited to announce the opening of their flagship location in New York City at 300 Park Avenue, at the corner of Park Avenue and 50th Street. This first-floor Financial Center spans 6,000 square feet and offers a deeply personal and unique private banking experience. It is designed to provide an alternative to the larger institutions in NY by focusing on bespoke client service and exceptional attention to detail. The Financial Center complements the 18,000 square feet of office space on the 13th floor, which was opened in 2023. This office space houses over 100 private bankers and relationship managers who specialize in offering high-end commercial and private banking solutions. The premier facility combines best-in-class banking and state-of-the-art technology with a client-focused approach, built on a foundation of over 100 years of exceptional service. Peapack Private Bank & Trust is ready to welcome new clients looking for an elevated banking experience. Visit the Financial Center at the corner of Park Avenue and 50th Street to meet our team of relationship managers or visit to schedule a private appointment. Peapack-Gladstone Financial Corporation, a New Jersey bank holding company, has total assets of $7.0 billion and assets under management and/or administration of $11.9 billion as of December 31, 2024. Founded in 1921, Peapack Private Bank & Trust offers a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial, and personal banking 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, helping them establish, maintain, and expand their legacy. Peapack Private Bank & Trust is committed to unparalleled client service. Visit for more information. Contact: Denise Pace-Sanders, Peapack Private Bank & Trust, SVP Managing Principal, Brand and Marketing Director, 500 Hills Drive, Suite 300, Bedminster, NJ 07921, [email protected], (908) 470-3322 View the original release on
