Peapack-Gladstone Financial Corp (OQ:PGC)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 500 Hills Dr BEDMINSTER NJ 07921-1538 |
| Tel: | 1-908-7194308 |
| Website: | https://pgbank.q4ir.com |
| IR: | See website |
| Key People | ||
| Douglas L. Kennedy President, Chief Executive Officer, Director | Frank A. Cavallaro Chief Financial Officer, Senior Executive Vice President | Robert A. Plante Chief Operating Officer, Executive Vice President |
| John Phillips Babcock Senior Executive Vice President, President - Private Wealth Management | Gregory M. Smith Senior Executive Vice President, President of Commercial Banking | Greg Tamberlane Senior Vice President, Head of Commercial Bank Operations New York |
| Business Overview |
| Peapack-Gladstone Financial Corporation is a bank holding company. The Company's principal subsidiary is Peapack-Gladstone Bank (the Bank), which is a state-chartered commercial bank. Its segments include Banking and Peapack Private. The Banking segment includes commercial (includes corporate and industrial (C&I) and equipment financing), commercial real estate, multifamily, residential and consumer lending activities; treasury management services; C&I advisory services; escrow management; deposit generation; operation of ATMs; telephone and Internet banking services; merchant credit card services, and customer support sales. Its Peapack Private segment includes investment management services for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian, and other financial planning and advisory services. This segment also includes the activity of the Delaware subsidiary, PGB Trust and Investments of Delaware. |
| Financial Overview |
| For the three months ended 31 March 2024, Peapack-Gladstone Financial Corp interest income increased 12% to $79.2M. Net interest income after loan loss provision decreased 22% to $34.4M. Net income decreased 53% to $8.6M. Net interest income after loan loss provision reflects Banking segment decrease from $40.6M to $0K, Net Interest Margin, Total - % decrease of 24% to 2.2%, Net Interest Spread, Total - % decrease of 41% to 1.29%. |
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