Company News

Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank’s Investment Grade Ratings Confirmed by Moody’s Investors Service

Posted September 30, 2024

Peapack-Gladstone Financial Corporation (“the Company”) (NASDAQ Global Select Market: PGC) reports today that Moody’s Investors Service (“Moody’s”) has confirmed investment grade ratings for both the Company and its banking subsidiary, Peapack-Gladstone Bank (“the Bank”). Moody’s has confirmed the Baa3 long term local currency issuer rating for the Company, and the baa2 baseline credit assessment (BCA) for the Bank.

The outlooks on the long-term issuer rating of the Company and on the long-term deposits and issuer ratings of Peapack-Gladstone Bank have been changed to “stable” from ratings under review. These actions conclude the review for possible downgrade that was initiated back in June of this year.

To establish the rating, Moody’s extensively reviewed the business fundamentals and financial conditions of the Company and the Bank, as well as the terms and conditions surrounding issuer and deposit ratings.

In confirming these ratings, Moody’s indicated that the Company’s sustained solid capital position and recent improvements in its funding and liquidity profile are adequate mitigants against the Bank’s risk profile. Moody’s also indicated that the Company has successfully strengthened its funding and liquidity profile over the last year. The overall funding structure remains a credit strength with the deposit base demonstrating resilience during the 2023 regional banking crisis.

Peapack Private Hires Vanessa Tortorice as Senior Managing Director

Posted September 25, 2024

Peapack Private, a division of Peapack-Gladstone Bank, is proud to announce that Vanessa Tortorice has joined Peapack Private’s New York City location as Senior Managing Director. Vanessa joins a team of highly-skilled commercial bankers at Peapack Private, where she will contribute to the growth of commercial and industrial business in the New York market. She is dedicated to providing tailored banking solutions to help clients achieve their long-term financial goals.

With a proven track record in financial services, Vanessa brings 12 years of experience to Peapack Private.

Peapack Private Elevates MJ Sully, Esq. to Senior Managing Director, Chief Fiduciary Officer and President of PGB Trust & Investments of Delaware

Posted August 19, 2024

Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) announces the elevation of MJ Sully, Esq. to Senior Managing Director, Chief Fiduciary Officer at Peapack Private, a division of Peapack-Gladstone Bank, and names her President of PGB Trust & Investments of Delaware, a bank subsidiary. She is a member of the Peapack Private senior leadership team and manages the trust and estate professionals and support personnel in both New Jersey and Delaware who provide trust, estate, agency, IRA, foundation, tax, and custody administration. Ms. Sully joined the wealth management division of the organization in 2007.

Ms. Sully began her legal career in private practice and then served for more than 12 years as a government attorney. She was Assistant Municipal Attorney to the Township of West Orange and then Special Probate Counsel to the Essex County Surrogate’s Court and the Superior Court of New Jersey, Chancery Division, Probate Part.
Ms. Sully has lectured for the New Jersey Institute for Continuing Legal Education on various topics such as Probate Litigation, Surrogate Court Practice, Fiduciary Duties, Elective Share, Guardianships, Conservatorships, and was the Keynote Speaker at the New Jersey Institute for Continuing Legal Education’s 56th Semi-Annual Tax & Estate Planning Forum. She has appeared on the Discovery Channel as a legal expert for the television series, “The Will”.

Peapack-Gladstone Financial Corporation Reports Second Quarter Results

Posted July 23, 2024

Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the “Company”) announces its second quarter 2024 financial results.

This earnings release should be read in conjunction with the Company’s Q2 2024 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov.

During the second quarter of 2024, core relationship deposits grew $354 million to $4.6 billion which represents an annualized rate of 33%. During the first six months of the year core relationship deposits have grown by $524 million. Strong growth in core relationship deposit balances have enabled the Company to repay $119.5 million of all outstanding short-term borrowings as of June 30, 2024.

The improvement in the Company’s liquidity profile also resulted in an increase in the net interest margin compared to the previous quarter. The net interest margin increased to 2.25% for the quarter ended June 30, 2024, compared to 2.20% for the quarter ended March 31, 2024.

Peapack Private Hires Kevin D. Casey as a Managing Principal with its Wealth Management Division

Published June 21, 2024

Peapack Private, a division of Peapack-Gladstone Bank, are proud to announce that Kevin D. Casey has joined the organization as a Managing Principal. Kevin, now the Head of Sales and Relationship Management with the wealth management division, will lead business development, growth and profitability while supporting the Company’s wealth advisors in delivering unparalleled client service and satisfaction to both current and future clients. Mr. Casey will also be responsible for expanding Peapack Private’s footprint through recruiting and the expansion of new business development opportunities.

Mr. Casey brings approximately 25 years of financial services leadership experience to Peapack Private, previously, serving as Managing Director, Head of National Sales and Business Development at JP Morgan Chase & Company, New York City, with a focus on overall strategy, business client segmentation, revenue creation, advisor recruiting and growth.

Lisa Fitzgerald Joins Peapack-Gladstone Bank as Senior Vice President, Equipment Finance Operations Manager

Posted June 10, 2024

The Bank is proud to announce that Lisa Fitzgerald has joined the Company as Senior Vice President, Equipment Finance Operations Manager. Lisa is responsible for overall equipment financing lease and loan portfolio service management and acts as the primary liaison with a third-party servicer and system vendors.

Ms. Fitzgerald is a seasoned manager with extensive business and equipment financing and leasing product expertise.

She brings to the Bank 25 years of equipment finance and financial services experience previously serving as Senior Vice President, Business Application Development & Support (Equipment Finance & Rail) at First Citizens Bank where she was responsible for implementation and oversight of capital investment spends related to the core receivable platform for the Equipment Finance division of the Bank.

Peapack Private Hires Jerry Dominguez as Senior Managing Director

Posted May 3, 2024

Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private, a division of Peapack-Gladstone Bank, are proud to announce that Jerry Dominguez has joined Peapack Privates New York City location as Senior Managing Director. Jerry is responsible for providing customized commercial banking solutions to a diverse set of businesses to help them achieve their financial goals.

Mr. Dominguez is a financial services professional with extensive experience in client relationship management and business development. Previously, he served as Relationship Manager, Private and Commercial Banking, at Customers Bank Corp., New York, NY, where he focused on middle-market companies, small businesses, municipalities, non-profits and large corporate and institutional investors with high deposit balances.