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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.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announced the promotion of Nicole Bonanno to Senior Managing Director and Director of Client Service for its wealth division, effective immediately. Based in Bedminster, NJ, she will oversee client service professionals and collaborate on strategic initiatives. Bonanno previously managed client operations after the acquisition of Quadrant Capital Management in 2017. Peapack-Gladstone Financial holds total assets of $6.3 billion and manages $10.7 billion as of March 31, 2022.
Peapack-Gladstone Financial Corporation (PGC) reported strong Q1 2022 results with total revenue of $54.33 million and net income of $13.44 million, marking increases from Q1 2021. Diluted EPS rose to $0.71 from $0.67. Loan growth was robust at 6% quarterly and 21% year-over-year, totaling $5.15 billion. Wealth management fee income surged 22% to $14.8 million. However, a $6.6 million loss on securities sales and severance costs reduced net income. The Company also repurchased 300,000 shares, maintaining strong capital ratios above regulatory standards.
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Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announced that its investment banking division, Peapack Private Investment Banking, acted as the exclusive financial advisor to D’Artagnan, Inc. on its sale to Fortune International, an Investcorp portfolio company. While financial terms remain undisclosed, the deal marks the culmination of a three-year partnership. D’Artagnan, known for its sustainable food sourcing, was praised for its unique value, and Peapack Private's expertise in the food industry was highlighted. The bank, with total assets of $6.1 billion, continues supporting middle market companies through various corporate advisory solutions.
Peapack-Gladstone Financial Corporation (PGC) announced its investment banking division, Peapack Private Investment Banking, played a key role in the sale of Community Surgical Supply (CSS) to AdaptHealth. CSS, a provider of home care equipment and services, has over 50 years of experience. The financial terms of the deal were not disclosed. AdaptHealth, operating in 47 states, specializes in patient-centered healthcare-at-home solutions. Peapack Private Investment Banking focuses on providing corporate advisory solutions, helping middle market businesses navigate critical phases in their lifecycle.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announced the appointment of Heidi H. Smith as Senior Vice President, General Counsel, and Corporate Secretary at Peapack-Gladstone Bank. Based in Bedminster, New Jersey, Smith will oversee the legal affairs of the company and advise the executive team on legal and policy matters. An accomplished attorney, she previously served as Assistant General Counsel and has extensive experience in the legal aspects of banking and finance. Peapack-Gladstone Financial Corporation has total assets of $6.1 billion as of December 31, 2021.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) reported strong fourth quarter 2021 results, with revenues increasing to $56.17 million and net income rising to $14.86 million, translating to EPS of $0.78, a significant jump from $0.16 in Q4 2020. Full-year results showed revenues of $210.31 million and net income of $56.62 million, leading to EPS of $2.93. Key drivers included growth in wealth management and commercial banking sectors. The company also repurchased 274,929 shares for $9.21 million in Q4 2021 and authorized a new 5% stock repurchase program for 2022.
Peapack-Gladstone Financial Corporation (PGC) has expanded its SBA Lending Division by welcoming three experienced professionals aimed at enhancing growth and service to small business clients. Sanjay T. Patel and Bhavesh R. Sheth join as Managing Directors with extensive backgrounds in SBA lending, while Parth Thakor comes on board as an Assistant Vice President, SBA Underwriter. This strategic move reinforces the bank's commitment to providing personalized services and support to small businesses, promoting economic growth.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has appointed Karen Rosner as Vice President, Assistant Brand and Marketing Director. She will lead the development and promotion of Peapack-Gladstone Bank's branding, advertising, and marketing strategies. Rosner has 20 years of experience, having previously worked at Lakeland Bank and North Jersey Federal Credit Union. Peapack-Gladstone Financial, founded in 1921, manages $10.3 billion in assets, providing wealth management and commercial banking services.
Peapack-Gladstone Financial Corporation (PGC) has announced a $5,000 donation to the Land Conservancy of New Jersey as part of its annual holiday giving program, celebrating its 100th anniversary. The Bank, committed to community support, has a history of charitable contributions, benefiting organizations like America's Grow-a-Row and Covenant House. With total assets of $6.2 billion and assets under management of $10.3 billion as of September 30, 2021, Peapack-Gladstone Bank provides various financial services aimed at individuals and businesses.