Peapack-Gladstone Financial Corporation operates as the bank holding company for Peapack Private Bank & Trust that provides private banking and wealth management services in the United States. The company operates in two segments, Banking and Wealth Management. It offers checking and savings accounts, money market and interest-bearing checking accounts, certificates of deposit, and individual retirement accounts. The company also provides working capital lines of credit, term loans for fixed asset acquisitions, commercial mortgages, multi-family mortgages, and other forms of asset-based financing services; and residential mortgages, home equity lines of credit, and other second mortgage loans. In addition, it offers corporate and industrial (C&I) lending and equipment finance, commercial real estate, multifamily, residential, and consumer lending activities; treasury management, C&I advisory, escrow management, deposit generation, and investment management services; personal trust services, including services as executor, trustee, administrator, custodian, and guardian; and other financial planning, tax preparation, and advisory services. Further, the company provides telephone and Internet banking, merchant credit card, and customer support sales services. Its private banking clients include businesses, non-profits, and consumers; wealth management clients include individuals, families, foundations, endowments, trusts, and estates; and commercial loan clients include business owners, professionals, retailers, contractors, and real estate investors. The company operates its private banking locations in Bedminster, Morristown, Princeton, and Teaneck, New Jersey; and branches in Somerset, Morris, Hunterdon, and Union counties, as well as operates automated teller machines. The company was founded in 1921 and is headquartered in Bedminster, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $276M | - | $37M | $29M | 5.7% | 23.8% | 13.2% |
| 2024 | $223M | - | $33M | $63M | 5.4% | -0.8% | -32.5% |
| 2023 | $225M | - | $49M | $67M | 8.4% | -5.4% | -34.2% |
| 2022 | $237M | - | $74M | $115M | 13.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 237.47 | 224.63 | 222.82 | 275.91 |
| Operating Revenue | - | 237.47 | 224.63 | 222.82 | 275.91 |
| Selling General And Administration | - | 93.30 | 105.34 | 127.95 | 152.35 |
| Interest Income | - | 211.88 | 304.01 | 327.80 | 362.52 |
| Interest Expense | - | 35.80 | 147.92 | 178.80 | 161.62 |
| Net Interest Income | - | 176.08 | 156.09 | 149.01 | 200.91 |
| Pretax Income | - | 102.34 | 67.28 | 44.95 | 52.31 |
| Tax Provision | - | 28.10 | 18.43 | 11.96 | 14.98 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.06 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 74.25 | 48.85 | 32.99 | 37.33 |
| Net Income From Continuing And Discontinued Operation | - | 74.25 | 48.85 | 32.99 | 37.33 |
| Net Income From Continuing Operation Net Minority Interest | - | 74.25 | 48.85 | 32.99 | 37.33 |
| Net Income | - | 74.25 | 48.85 | 32.99 | 37.33 |
| Net Income Common Stockholders | - | 74.25 | 48.85 | 32.99 | 37.33 |
| Net Income Including Noncontrolling Interests | - | 74.25 | 48.85 | 32.99 | 37.33 |
| Normalized Income | - | 74.39 | 48.85 | 32.99 | 37.33 |
| Diluted NI Availto Com Stockholders | - | 74.25 | 48.85 | 32.99 | 37.33 |
| Basic Average Shares | - | 18.16 | 17.85 | 17.66 | 17.61 |
| Diluted Average Shares | - | 18.57 | 18.05 | 17.84 | 17.75 |
| Reconciled Depreciation | - | 5.04 | 5.01 | 4.63 | 5.20 |
| Total Unusual Items | -0.23 | -0.20 | -0.56 | -0.29 | - |
| Total Unusual Items Excluding Goodwill | -0.23 | -0.20 | -0.56 | -0.29 | - |
| Special Income Charges | -0.23 | -0.20 | -0.56 | -0.29 | - |
| Write Off | 2.24 | - | - | - | - |
| Restructuring And Mergern Acquisition | 0.23 | 0.20 | 0.56 | 0.29 | - |
| Gain On Sale Of Security | - | -8.31 | 0.18 | 0.83 | 0.42 |
| Depreciation Amortization Depletion Income Statement | - | 1.57 | 1.32 | 1.09 | 1.09 |
| Depreciation And Amortization In Income Statement | - | 1.57 | 1.32 | 1.09 | 1.09 |
| General And Administrative Expense | - | 91.42 | 103.47 | 125.84 | 150.30 |
| Other Gand A | 1.32 | 1.46 | - | - | - |
| Salaries And Wages | - | 89.48 | 100.52 | 122.32 | 145.49 |
| Insurance And Claims | - | 1.94 | 2.95 | 3.51 | 4.81 |
| Selling And Marketing Expense | - | 1.88 | 1.87 | 2.11 | 2.05 |
| Amortization | - | 1.57 | 1.32 | 1.09 | 1.09 |
| Amortization Of Intangibles Income Statement | - | 1.57 | 1.32 | 1.09 | 1.09 |
| Occupancy And Equipment | - | 18.72 | 19.73 | 22.48 | 26.61 |
| Professional Expense And Contract Services Expense | - | 5.06 | 5.71 | 7.31 | 6.68 |
| Other Non Interest Expense | - | 9.92 | 11.15 | 11.54 | 13.36 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Peapack-Gladstone Financial Corporationthis co. | PGC | $778M | 20.84β premium | 1.18 | 5.7% | - |
| loanDepot, Inc. | LDI | $811M | -12.94 | 3.46 | -26.7% | - |
| First Community Bankshares, Inc. | FCBC | $811M | 16.61 | 1.62 | 9.7% | - |
| Bowhead Specialty Holdings Inc. | BOW | $801M | 14.90 | 1.78 | 12.0% | - |
| Great Southern Bancorp, Inc. |
| 2021 | - | - | - | - | - | - | - |
| GSBC |
| $789M |
| 11.12 |
| 1.24 |
| 11.2% |
| - |
| South Plains Financial, Inc. | SPFI | $786M | 13.45 | 1.59 | 11.8% | - |
| Southern Missouri Bancorp, Inc. | SMBC | $760M | 12.98 | 1.40 | 10.8% | - |
| Capital City Bank Group, Inc. | CCBG | $757M | 12.29 | 1.37 | 11.1% | - |
| World Acceptance Corporation | WRLD | $755M | 8.41 | 1.72 | 20.4% | - |
| Peer Median | - | 12.63 | 1.61 | 11.1% | - | |