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 (NASDAQ: PGC) is a New Jersey bank holding company for Peapack-Gladstone Bank, a commercial bank founded in 1921. The company regularly issues news and press releases covering its commercial banking operations, private banking initiatives and wealth management activities under the Peapack Private brand.
News about Peapack-Gladstone often includes quarterly earnings results, updates on deposits, loans, net interest margin, capital ratios and liquidity. The company uses press releases and investor updates to discuss trends in net interest income, wealth management fee income, commercial and industrial lending, and core relationship deposit growth. These items provide insight into how the bank’s balance sheet and revenue mix are evolving over time.
In addition to financial results, Peapack-Gladstone announces developments in its private banking and wealth management businesses. Recent communications have highlighted the expansion of its New York City presence, the hiring of commercial private banking teams and senior leaders, and the growth of assets under management and/or administration in the Wealth Management Division. The company also reports on credit ratings actions by agencies such as Moody’s and KBRA.
Strategic branding and corporate initiatives are another recurring theme. The organization has announced an expected rebrand that will bring Peapack-Gladstone Bank and its wealth management division together under the Peapack Private Bank & Trust name. Personnel announcements, such as appointments of senior managing directors, fiduciary officers and SBA lending leaders, further illustrate how the bank is building out its capabilities.
Investors and clients can use the Peapack-Gladstone news stream to follow earnings releases, capital and liquidity updates, expansion into the metro New York market and the evolution of its private banking and wealth management strategy.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) is expanding its retail presence with a new branch in Boonton, NJ, marking its 20th location. The new facility, scheduled to open in early April 2021, will provide a full range of banking services including personal, business banking, and wealth management. The site is also the hub for the Bank’s Professional Services division. Celebrating a century in business, Peapack-Gladstone aims to enhance community-focused financial solutions during challenging times.
Peapack-Gladstone Financial Corporation (PGC) announces its investment banking division's successful advisory role in the sale of Randall Farms to Highview Capital. Randall, a leading processor of value-added meat products since 1952, will benefit from this acquisition through growth and geographical expansion. The financial terms remain undisclosed, but the deal signifies continued momentum in the food sector. Peapack’s expertise in guiding family-owned businesses was highlighted by Randall's owner, emphasizing the firm's strong reputation in the food industry.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) reported a 2020 net income of $26.19 million and diluted EPS of $1.37, both down significantly from 2019's $47.43 million and $2.44, respectively. The decline was primarily due to a $32.40 million provision for loan losses amid the COVID-19 pandemic. Despite increased net interest income from the Paycheck Protection Program and wealth management income, operating expenses rose by 19%. The company has authorized a buyback of 948,735 shares, aiming to manage excess capital and enhance shareholder value.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) declared a quarterly cash dividend of $0.05 per share on January 28, 2021. This dividend will be paid on February 26, 2021 to shareholders on record as of February 11, 2021. The company, with total assets of $6.0 billion and AUM/AUA of $7.6 billion, offers a range of financial services including innovative wealth management and commercial banking solutions.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has announced the promotion of Gregory M. Smith to President of Commercial Banking and Stuart Vorcheimer to Market President and Head of Commercial and Industrial (C&I) Lending at Peapack-Gladstone Bank. Smith's responsibilities include leading the bank's commercial banking operations, while Vorcheimer will oversee C&I lending. Both leaders bring extensive experience from Capital One Bank, contributing to the bank’s aim to enhance client service and expand its commercial offering, which is critical for future growth.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has appointed Maureen O’Hara as the Senior Managing Director, Commercial Private Banker for Commercial & Industrial (C&I) at Peapack-Gladstone Bank. Based in Teaneck, she will enhance the bank's commercial portfolio and deliver tailored solutions. O’Hara brings extensive experience from her role at Wells Fargo, where she managed upper-end business banking relationships. With total assets of $6.0 billion and wealth management assets of $7.6 billion, Peapack-Gladstone is committed to innovative financial services for businesses and consumers.
Peapack-Gladstone Financial Corporation (PGC) has completed a private placement of $100 million in fixed-to-floating subordinated notes due 2030. The notes, which will initially carry a 3.50% interest rate for five years, qualify as Tier 2 capital. Proceeds will be used for general corporate purposes, including potential debt redemption and acquisitions. Investment grade ratings from Kroll and Moody’s were received, reflecting organizational strength. The deal is positioned to enhance growth initiatives without diluting existing shareholders.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announced the addition of Scott P. Noyes and Leigh Anderson from Noyes Capital Management to its wealth management team. This strategic move aims to enhance client service and support business growth. Scott Noyes, with over 30 years in the finance sector, is a CFA® and CFP® with experience managing high-net-worth clients. Leigh Anderson brings over 20 years of expertise in financial services. The company has total assets of $6 billion and assets under management of $7.6 billion as of September 30, 2020.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announced the addition of Ralf Sellig and Rob Vogel along with their team from Lucas Capital Management to its wealth management division, Peapack Private. This move aims to enhance presence in the growing Monmouth County market. Both Sellig and Vogel bring extensive financial expertise and experience, enhancing the capabilities of Peapack Private. The company reports total assets of $6.0 billion and $7.6 billion in assets under management as of September 30, 2020, further reinforcing its commitment to client service.
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) announces that Kim Waldron, Senior Managing Director of the Platinum Service Team, has graduated from the NJBankers Emerging Leaders Program. This nine-month program aims to develop leadership skills among future banking leaders. Waldron expressed gratitude for the support received during the program, citing valuable mentoring that equipped her for future leadership roles. Peapack-Gladstone Bank emphasizes employee development and has previously produced other graduates from this program. The corporation has total assets of $6.0 billion and wealth management assets of $7.6 billion.