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.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has appointed Diane Conboy as Senior Managing Director and Market President at Peapack-Gladstone Bank. Operating from the new private banking center in Red Bank, NJ, Conboy will lead the commercial private banking team, focusing on providing personalized service and wealth solutions to businesses in Monmouth and Ocean Counties. With over 35 years of experience in financial services, she has a proven track record in C&I lending and business development, previously managing portfolios at M&T Bank and The Provident Bank.
Peapack-Gladstone Financial Corporation (PGC) reported strong second quarter 2021 results, with total revenue reaching $51.52 million, marking a 16% increase from Q2 2020. Net income surged to $14.42 million, or $0.74 per diluted share, compared to $8.24 million in the same quarter last year. Key drivers included increased wealth management income and a decreased provision for loan losses. The company repurchased 234,722 shares at an average price of $32.40, totaling $7.6 million, reinforcing its capital strategy. Nonperforming assets decreased to 0.10% of total assets, indicating improved asset quality.
Peapack-Gladstone Financial Corporation (PGC) has successfully acquired Princeton Portfolio Strategies Group (PPSG) as of July 1, 2021. This acquisition marks the eighth for the company in six years, contributing an additional $520 million in assets under management. Peapack Private, the bank’s wealth management division, enhances its offerings with this strategic move, aiming to meet the growing demand for tailored wealth management solutions. With a market value of approximately $9.4 billion in assets under administration, the acquisition aligns with Peapack's commitment to expand its reach in Mercer County.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has announced the appointment of Neil Viotto as Senior Vice President, Director of Residential and Consumer Lending. He will oversee residential and consumer lending operations, including loan origination management and new business development, from the headquarters in Bedminster, NJ. With over 29 years in the industry, Viotto previously held key positions at Somerset Savings Bank and Superior Mortgage Corp, enhancing operational efficiency and customer service. As of March 31, 2021, the corporation holds total assets of $6.0 billion.
Peapack-Gladstone Financial Corporation (PGC) announced its agreement to acquire Princeton Portfolio Strategies Group, LLC (PPSG), which manages approximately $550 million in assets. This acquisition aims to enhance earnings immediately and will integrate PPSG into Peapack Private, the bank's wealth management division. The transaction, expected to close in Q3 2021, is the bank's eighth acquisition since 2015. Peapack-Gladstone, with total assets of $6 billion and $9.4 billion in assets under management, aims to bolster its market presence through this strategic move.
Peapack-Gladstone Financial Corporation (PGC) reported Q1 2021 results with total revenue of $49.61 million, up from $46.27 million in Q1 2020, representing a 7% increase. Net income surged to $13.18 million with diluted EPS at $0.67, up 864% from $0.07 a year ago. The quarter benefitted from increased wealth management and capital markets income, alongside a significantly reduced provision for loan losses of $225,000 compared to $20 million in the previous year. The company also repurchased 158,033 shares under its stock buyback program.
Peapack-Gladstone Financial Corporation (PGC) has declared a quarterly cash dividend of $0.05 per share, set to be paid on May 25, 2021, to shareholders recorded by May 11, 2021. As of December 31, 2020, the company reported total assets of $5.9 billion and assets under management of $8.8 billion. Established in 1921, Peapack-Gladstone Bank focuses on wealth management, commercial, and retail banking services, striving to provide exceptional client service.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has elevated Jacqueline Reyes to senior vice president of BSA/AML/OFAC at Peapack-Gladstone Bank. With over 21 years in NJ banking, she previously served as assistant BSA and AML officer. Reyes has managed compliance programs as assets grew from $2.7 billion in 2015 to $5.9 billion as of December 2020. She holds an ACAMS designation and completed the bank's Emerging Leaders Program, receiving the NJBankers New Leaders in Banking Award in 2017.
Peapack-Gladstone Financial Corporation (PGC) is celebrating the 100th Anniversary of Peapack-Gladstone Bank on September 12, 2021. Throughout the year, the Bank will commemorate this milestone by sharing its history, which emphasizes its values of integrity and trust. To honor Dr. Susan Cole's retirement, the Bank has pledged a $100,000 donation to create a scholarship fund for students. The Bank continues to focus on providing value-added banking solutions, aiming to support its communities during these challenging times.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has opened its 20th branch in Boonton, NJ, enhancing its presence in the community. The new full-service location offers various banking solutions, including personal and business services, wealth management, and lending. Open Monday to Saturday, it features remote appointment options and COVID-19 safety measures. To attract new clients, the branch provides a $100 gift card to local restaurants for those opening eligible accounts. Peapack-Gladstone has over $5.9 billion in total assets and aims to continue its commitment to exceptional client service.