Welcome to our dedicated page for Peapack-Gladstone Finl news (Ticker: PGC), a resource for investors and traders seeking the latest updates and insights on Peapack-Gladstone Finl stock.
Peapack-Gladstone Financial Corporation reports bank holding company developments tied to commercial banking, private banking and wealth management. Through Peapack-Gladstone Bank and Peapack Private, company updates commonly address commercial and commercial real estate lending, deposit growth, treasury and escrow services, SBA lending, trust and estate administration, investment management and financial planning services.
Recurring news also includes quarterly results, balance-sheet and liquidity commentary, credit-rating actions, Metropolitan New York market expansion, senior banking and wealth-management hires, fiduciary leadership changes and brand positioning for the bank and its wealth division.
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Peapack-Gladstone Financial Corporation (PGC) reported strong financial results for Q1 2023, achieving total revenue of $62.0 million, a 37% increase in net income to $18.4 million, and a diluted EPS of $1.01. The company's return on average assets and equity improved to 1.16% and 13.50%, respectively. Net interest income rose by 11% year-over-year, although it fell by 8% from the previous quarter due to margin compression. Deposits grew by $104 million, while liquidity remained robust at $851 million. The company authorized a 5% stock repurchase program for up to 890,000 shares to enhance shareholder value. Despite industry challenges, PGC is positioned for future growth with a healthy pipeline in wealth management and commercial banking.
On April 17, 2023, Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announced the appointment of Daniel P. Trudo as Senior Managing Director, Commercial Private Banker, based in Teaneck, New Jersey. Trudo will enhance the Bank’s Commercial and Industrial business, focusing on personalized client service and expanding its presence in the Tri-State area. He brings extensive experience from his previous roles at Capital One Bank and Citizens Bank, where he successfully grew revenue through client relationships and new customer acquisition.
Peapack-Gladstone Financial operates with total assets of $6.4 billion and assets under management of $10 billion as of December 31, 2022. The Bank offers a range of financial services, including wealth management and investment banking solutions.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announces the appointment of Dr. Zoya Faynleyb as Senior Vice President and Deputy Chief Risk Officer. Based in Bedminster, NJ, Dr. Faynleyb will oversee compliance with BSA/AML/OFAC regulations and lead the Bank’s Risk Management Program. She brings over 20 years of experience in banking and compliance, previously serving as Director of AML & Sanctions at a Fortune 500 fintech company. Dr. Faynleyb holds an MBA in Banking and Finance and multiple certifications in anti-money laundering and regulatory compliance, enhancing the institution's risk management capabilities.
Peapack-Gladstone Financial Corporation (PGC) reported significant Q4 2022 financial results, with total revenue of $64.85 million, up 15% year-over-year, and net income of $20.58 million, increasing 38% from Q4 2021. Diluted EPS rose to $1.12, a 44% increase. The company benefited from a $10.8 million rise in net interest income due to improved net interest margin, although noninterest income declined due to market volatility. Total loans reached $5.30 billion, with a 9.4% increase from the prior year. The company also declared a cash dividend of $0.05 per share payable on February 23, 2023.
Peapack-Gladstone Bank (PGC) hosted its 2nd Annual Boonton Christmas Tree Sale from November 25 to December 9, raising $30,607 for youth mental health programs at Lakeland Family YMCA. The event, run by bank volunteers, featured over 300 live trees, fostering community engagement and holiday spirit. This initiative continues a tradition previously held by the Kiwanis Club, aiming to create lasting family memories. The bank remains dedicated to community support through year-round volunteer efforts and financial contributions.