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Peapack-Gladstone Company profile

About Peapack-Gladstone Financial Corp

Peapack-Gladstone Financial Corporation is a bank holding company. Its principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state chartered commercial bank. Its Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; treasury management services; corporate and industrial (C&I) advisory services; escrow management; deposit generation; operation of automated teller machines (ATMs); telephone and Internet banking services; merchant credit card services and customer support services. Its Peapack Private Wealth Management Division or Peapack Private segment includes investment management services for individuals and institutions; personal trust services, including services as executor, trustee, administrator and custodian, and other financial planning and advisory services. This segment also includes the activity from the Delaware subsidiary, PGB Trust & Investments of Delaware, and Murphy Capital.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Peapack-Gladstone Financial Corp interest income decreased 3% to $160.1M. Net interest income after loan loss provision increased 8% to $138.1M. Net income before extraordinary items increased from $23M to $56.6M. Net interest income after loan loss provision reflects Banking segment increase of 41% to $125.7M, Net Interest Margin, Total - % increase of 3% to 2.38%, Net Interest Spread.

Equity composition

Common Stock no Par, 3/11, 21M auth., 9,230,878 issd., less 408,178 shs. in Treas @ cost 9M. Insiders Own 15.00% @ $9M. 11/02, 12/97, 4/95, 2-for-1 stock splits; 9/00, 9/99, 9/98, 11/96, 5% dividends. 9/04, 9/03, 9/01, 11/92, 10% dividends. Preferred stock no Par, 12/10, 500K auth., 21,513 issd,. 06/09, 5% Stock dividend.