Peapack-Gladstone Financial Corporation | research notes

Peapack-Gladstone Financial Corporation: A Leading Community Bank with a Rich Heritage

Peapack-Gladstone Financial Corporation (NASDAQ: PGC) is a publicly traded bank holding company that operates through its wholly-owned subsidiary, Peapack-Gladstone Bank. Founded in 1921, the bank has a rich history of providing financial services to individuals, businesses, and municipalities in New Jersey and surrounding areas.

Community-Oriented Banking Model

Peapack-Gladstone Bank has built a strong reputation as a community-oriented bank that puts the needs of its customers first. With over 40 branch locations throughout New Jersey, the bank offers a full range of personal and business banking products and services, including:

• Checking and savings accounts
• Mortgages and home equity loans
• Commercial lending
• Wealth management
• Trust and estate services

The bank's local decision-making process allows it to provide personalized solutions to meet the specific financial needs of its customers. Peapack-Gladstone Bank is committed to supporting the communities it serves through various initiatives, including local sponsorships, charitable giving, and financial education programs.

Financial Performance and Recognition

Peapack-Gladstone Financial Corporation has consistently delivered strong financial performance over the years. The bank has maintained a high-quality loan portfolio and has a proven track record of profitability. In recent years, the company has been recognized by various industry publications for its financial stability and exceptional customer service.

• Ranked among the top 200 community banks in the nation by S&P Global Market Intelligence
• Received a five-star rating from BauerFinancial for financial strength and stability
• Named one of the "Best Banks to Work For" by American Banker magazine

Commitment to Innovation

Peapack-Gladstone Bank is committed to providing its customers with the latest technology and financial tools. The bank offers a range of mobile banking services, including remote check deposit, mobile payments, and access to account information. Additionally, the bank has invested in digital platforms to enhance the customer experience, such as online loan applications and wealth management tools.

Executive Leadership

Peapack-Gladstone Financial Corporation is led by a team of experienced executives who are dedicated to the bank's mission and values.

• Douglas L. Kennedy, President and Chief Executive Officer
• Edward J. Bauer, Executive Vice President and Chief Financial Officer
• Kevin J. Hanson, Executive Vice President and Chief Banking Officer
• Brian J. McGrath, Executive Vice President and Chief Risk Officer

Conclusion

Peapack-Gladstone Financial Corporation is a well-respected financial institution with a strong commitment to providing community-oriented banking services. With its local decision-making process, personalized solutions, and innovative technology, the bank continues to be a trusted partner for individuals, businesses, and municipalities in New Jersey and surrounding areas. As it enters its second century of operation, Peapack-Gladstone Financial Corporation is well-positioned for continued success and community engagement.

Business Model of Peapack-Gladstone Financial Corporation

Peapack-Gladstone Financial Corporation is a commercial bank holding company that provides a range of banking, financial, and wealth management services. Its business model involves:

• Deposit Gathering: Peapack-Gladstone accepts deposits from individuals and businesses, offering various accounts such as checking, savings, and money market accounts.
• Lending: The company utilizes deposits to provide loans to customers, including commercial loans, real estate loans, and personal loans.
• Wealth Management: Peapack-Gladstone offers wealth management services to high-net-worth clients through its Peapack Private division. These services include investment management, trust services, and estate planning.
• Insurance Services: The company provides insurance products, including property and casualty insurance, to its clients.

Advantages to Competitors

Peapack-Gladstone has several advantages over its competitors:

• Specialized Focus: Peapack-Gladstone focuses on providing financial services to businesses and high-net-worth individuals in the New Jersey, New York, and Pennsylvania markets. This specialization allows it to develop deep relationships with its clients and understand their financial needs.
• Strong Capital Base: The company maintains a strong capital base, which provides it with a solid foundation for growth and financial stability.
• Experienced Management Team: Peapack-Gladstone has a highly experienced management team with a proven track record of success.
• Wide Range of Services: The company offers a comprehensive suite of financial services, allowing it to meet the diverse needs of its clients.
• Local Presence: Peapack-Gladstone has a strong local presence in its target markets, which enables it to establish close connections with its clients and provide personalized service.
• Technology-Driven: The company has invested heavily in technology to enhance its operations and improve customer experience. This includes online banking, mobile banking, and other digital services.
• Community Involvement: Peapack-Gladstone actively supports the communities it serves, which strengthens its reputation and fosters long-term relationships.

Peapack-Gladstone Financial Corporation Company Outlook

Overview

Peapack-Gladstone Financial Corporation (NASDAQ: PGC) is a premier community bank headquartered in Bedminster, New Jersey. Founded in 1921, the company has over $6 billion in assets and operates through a network of 37 branches in New Jersey, New York, Pennsylvania, and Connecticut.

Financial Performance

Peapack-Gladstone has consistently delivered strong financial performance over the past several years:

• Revenue: In 2022, the company reported revenue of $278.2 million, up 5.7% from the previous year.
• Net income: Net income reached $103.1 million in 2022, increasing by 4.7%.
• Diluted EPS: Earnings per share (EPS) rose to $5.59 in 2022, an increase of 4.5%.

Business Segments

Peapack-Gladstone operates in two primary business segments:

• Commercial Banking: Provides commercial and industrial loans, commercial real estate loans, and treasury management services to businesses and institutional clients.
• Retail Banking: Offers deposits, loans, and other banking services to individuals and families.

Growth Strategy

The company's growth strategy focuses on:

• Organic Growth: Expanding its branch network, enhancing its digital banking capabilities, and offering new products and services.
• Acquisitions: Actively pursuing strategic acquisitions to expand its reach and customer base.
• Focus on Specialty Lending: Developing niche lending programs and partnerships to address specific market needs, such as healthcare and renewable energy.

Competitive Landscape

Peapack-Gladstone faces competition from other regional banks, national banks, and fintech companies. However, its strong financial performance, customer-centric approach, and commitment to innovation have enabled it to maintain a competitive position in its target markets.

Outlook

Analysts and industry experts generally maintain a positive outlook for Peapack-Gladstone Financial Corporation:

• Strong Fundamentals: The company's solid financial performance, ample capital position, and experienced management team provide a strong foundation for continued growth.
• Growing Market: The commercial and retail banking markets in the Northeast are expected to continue expanding, providing opportunities for Peapack-Gladstone to gain market share.
• Digital Transformation: The company's investment in digital banking and mobile solutions positions it well to meet the evolving needs of its customers and compete with fintech players.
• Potential Acquisition Opportunities: Peapack-Gladstone has a proven track record of successful acquisitions, and the fragmented nature of the banking industry presents opportunities for further growth through M&A.

Risks

While Peapack-Gladstone has a strong outlook, there are some potential risks to consider:

• Economic Downturn: A recession or economic downturn could reduce loan demand and impact the company's revenue and profitability.
• Rising Interest Rates: Increasing interest rates could lead to higher funding costs and margin compression for the bank.
• Competition: Intense competition from both traditional and non-traditional financial institutions could impact market share and revenue.
• Regulatory Changes: Changes in banking regulations or tax laws could affect the company's operations and profitability.

Overall

Peapack-Gladstone Financial Corporation is well-positioned for continued growth and success in the Northeast banking market. Its strong financial performance, customer focus, and proactive growth strategy provide a solid foundation for the company to navigate potential risks and capitalize on market opportunities.

Similar Companies to Peapack-Gladstone Financial Corporation:

1. Valley National Bank

• Homepage: https://www.valleynationalbank.com
• Why customers like it: Valley National Bank offers a wide range of banking products and services, including commercial and consumer banking, wealth management, and investment services. It has a strong presence in the New York metropolitan area and New Jersey, providing convenience and local expertise.

2. Provident Bank

• Homepage: https://www.provident.bank
• Why customers like it: Provident Bank is a community bank with a focus on providing personalized service and local decision-making. It offers a comprehensive suite of banking products and services, including personal and business banking, wealth management, and mortgage lending.

3. OceanFirst Bank

• Homepage: https://www.oceanfirst.com
• Why customers like it: OceanFirst Bank is a full-service community bank serving the New Jersey Shore area. It offers a range of financial products and services, including checking and savings accounts, loans, and investment services. Customers appreciate its strong local presence and commitment to supporting the community.

4. Investors Bank

• Homepage: https://www.investorsbank.com
• Why customers like it: Investors Bank is a regional bank with a strong presence in New Jersey and New York. It offers a comprehensive range of banking and financial services, including commercial and personal banking, wealth management, and mortgage lending. Customers appreciate its strong customer service and commitment to growth.

5. 1st Constitution Bank

• Homepage: https://www.1stconstitutionbank.com
• Why customers like it: 1st Constitution Bank is a community bank with a focus on providing tailored financial solutions. It offers a range of banking products and services, including personal and business banking, wealth management, and insurance. Customers appreciate its personalized approach and competitive rates.

Peapack-Gladstone Financial Corporation

1921:

• Peapack National Bank founded in Peapack, New Jersey.

1969:

• Gladstone National Bank founded in Gladstone, New Jersey.

1999:

• Peapack Savings Bank acquires Gladstone National Bank, forming Peapack-Gladstone Bank.

2002:

• Peapack-Gladstone Bank becomes a public company through an initial public offering (IPO).

2005:

• Peapack-Gladstone acquires PrivateBancorp, a community bank headquartered in Chicago.

2009:

• Peapack-Gladstone acquires The Bank of Princeton.

2012:

• Peapack-Gladstone acquires Bank of New Jersey, expanding its presence in northern New Jersey.

2015:

• Peapack-Gladstone acquires Oritani Financial Corporation, a bank headquartered in Hackensack, New Jersey.

2016:

• Peapack-Gladstone acquires Midfirst Bank, a bank headquartered in Oklahoma City. This acquisition makes Peapack-Gladstone one of the largest community banks in the United States.

2019:

• Peapack-Gladstone acquires Berkshire Hills Bancorp, Inc., a bank headquartered in Massachusetts.

2022:

• Peapack-Gladstone Financial Corporation is renamed Peapack Capital Corp.

Present:

Peapack Capital Corp. is a financial services holding company with a network of community banks, private wealth management firms, and asset management services. It operates under the brand names Peapack-Gladstone Bank, PrivateBancorp, and Midfirst Bank.

2023

• January: Peapack-Gladstone Financial Corporation (PGC) announces a strategic partnership with Summit Financial Group, an independent wealth management firm.

2022

• October: PGC acquires Harvest Capital Funding, a leading provider of asset-based lending solutions.
• September: PGC celebrates its 100th anniversary.
• July: PGC announces a $100 million equity investment from Corsair Capital, a leading global private equity firm.

2021

• December: PGC completes the acquisition of Fareri Wealth Management, a private wealth management firm.
• September: PGC announces a $100 million credit facility with BNY Mellon.
• June: PGC expands its private banking business with the acquisition of Beacon Trust Company.

Recent Timelines

• May 2023: PGC reports strong Q1 2023 financial results, with net income of $41.5 million.
• February 2023: PGC appoints James Sherman as its new President and Chief Executive Officer.
• January 2023: PGC launches a new digital banking platform for its clients.

Exceptional Financial Services from Peapack-Gladstone Financial Corporation

As a proud customer of Peapack-Gladstone Financial Corporation, I couldn't be more satisfied with the exceptional financial services they provide.

Tailored Solutions

From the moment I joined, I was impressed by their personalized approach. They took the time to understand my unique financial goals and tailored solutions that perfectly aligned with my needs. Whether it was a customized portfolio or a strategic lending plan, their recommendations were always on point.

Professional and Knowledgeable Team

The team at Peapack-Gladstone is incredibly knowledgeable and professional. They are always available to answer any questions and provide expert guidance. Their genuine care for their clients is evident in every interaction.

Competitive Rates and Flexible Options

Not only does Peapack-Gladstone offer competitive rates on their financial products, they also provide flexible options to suit my changing circumstances. I appreciate their understanding and willingness to accommodate my specific requirements.

Seamless Digital Experience

In today's fast-paced world, Peapack-Gladstone's seamless digital experience makes managing my finances a breeze. Their user-friendly platform allows me to access my accounts, track investments, and make transactions anytime, anywhere.

Strong Community Involvement

I am particularly impressed by Peapack-Gladstone's commitment to the communities they serve. Their generous support of local organizations and initiatives demonstrates their values and their desire to make a positive impact.

Exceptional Customer Service

Above all, the exceptional customer service sets Peapack-Gladstone apart. They go the extra mile to ensure that my experience is always positive. Their responsiveness, empathy, and dedication are truly remarkable.

Conclusion

For those seeking a financial partner that truly understands their needs, Peapack-Gladstone Financial Corporation is the clear choice. Their personalized services, knowledgeable team, competitive rates, and exceptional customer support make them an invaluable asset to my financial well-being. I highly recommend their services to anyone looking for a reliable and trusted financial partner.

Unlock Your Financial Potential with Peapack-Gladstone Financial Corporation

Are you seeking a trusted financial partner to help you achieve your financial goals? Look no further than Peapack-Gladstone Financial Corporation (www.pgbank.com), a leading financial institution with a rich history of serving individuals, businesses, and organizations.

Tailored Financial Solutions for Every Need

At Peapack-Gladstone, we understand that every client is unique. That's why we offer a comprehensive suite of financial products and services tailored to meet your specific needs:

• Personal Banking: Checking and savings accounts, credit cards, mortgages, and more
• Business Banking: Commercial lending, treasury management, and merchant services
• Wealth Management: Investment management, financial planning, and estate planning
• Capital Markets: Debt and equity fundraising, mergers and acquisitions

Unmatched Customer Service

Our dedicated team of financial professionals is committed to providing exceptional service. We take the time to listen to your needs, understand your financial situation, and develop personalized solutions that align with your goals. Whether you're a seasoned investor or a first-time homebuyer, we're here to guide you every step of the way.

Innovation and Convenience

Peapack-Gladstone is constantly evolving to meet the changing needs of our clients. We offer a range of digital banking tools and mobile apps to make managing your finances easy and convenient. Our online platform allows you to access your accounts, make transactions, and schedule appointments anytime, anywhere.

Why Choose Peapack-Gladstone?

• Financial Stability: With over 100 years of experience, Peapack-Gladstone is a trusted and stable financial institution.
• Local Presence: We have locations throughout New Jersey and the New York metropolitan area, providing easy access to our services.
• Community Involvement: Peapack-Gladstone is deeply committed to the communities it serves, supporting local businesses and organizations.
• Award-Winning Service: Our exceptional customer service has been recognized by industry publications such as J.D. Power and Associates.

Visit our website at www.pgbank.com today and discover how Peapack-Gladstone Financial Corporation can help you achieve your financial dreams. Whether you're seeking a competitive mortgage rate, customized investment portfolio, or tailored business banking solutions, we have the expertise and resources to guide you towards success.

Main Supplier (or Upstream Service Provider) of Peapack-Gladstone Financial Corporation

Name: Fiserv, Inc.

Website: https://www.fiserv.com/

Services Provided:

Peapack-Gladstone Financial Corporation (NASDAQ: PGFD) utilizes Fiserv, a leading global provider of financial services technology solutions, for a range of technology and data processing services. Fiserv provides Peapack-Gladstone with the following key services:

• Core Banking Platform: Fiserv's core banking platform provides a comprehensive suite of functionalities, including account servicing, transaction processing, customer onboarding, and reporting. It enables Peapack-Gladstone to manage customer accounts, process financial transactions, and fulfill regulatory requirements efficiently.

• Payment Processing: Fiserv's payment processing services enable Peapack-Gladstone to facilitate various forms of electronic payments, including ACH transfers, wire transfers, and credit/debit card transactions. These services support the company's payment processing needs for both retail and commercial customers.

• Data and Analytics: Fiserv provides Peapack-Gladstone with access to valuable data and analytics solutions. These services help the company analyze customer behavior, identify trends, and make informed decisions to improve operations and enhance customer experiences.

• IT Infrastructure: Fiserv provides and manages IT infrastructure services, such as hardware, software, and network connectivity, for Peapack-Gladstone. This infrastructure supports the company's core banking and payment processing systems, ensuring reliable and secure operations.

• Compliance and Risk Management: Fiserv's compliance and risk management solutions assist Peapack-Gladstone in meeting regulatory requirements and mitigating financial risks. These services encompass data security, fraud detection, and anti-money laundering (AML) compliance measures.

Strategic Significance:

The partnership between Peapack-Gladstone and Fiserv is crucial for the company's operations. Fiserv's technology solutions provide Peapack-Gladstone with the necessary infrastructure and capabilities to deliver seamless banking services to its customers. The reliable and efficient services from Fiserv enable Peapack-Gladstone to focus on its core business and provide value to its customers while ensuring compliance and security.

Main Customers (Downstream Companies) of Peapack-Gladstone Financial Corporation

Peapack-Gladstone Financial Corporation is a commercial bank that primarily provides financial services to small and medium-sized businesses, as well as individuals and families. Its main customers include:

Businesses

• Commercial real estate developers and investors
• Healthcare providers
• Law firms
• Accounting firms
• Manufacturers
• Distributors
• Service providers
• Non-profit organizations

Individuals and Families

• High-net-worth individuals
• Business owners
• Professionals
• Retirees

Specific Downstream Companies

• AmeriHealth New Jersey (https://www.amerihealthnj.com/): A managed care organization that provides health insurance products and services.
• Baptist Health (https://www.baptisthealth.com/): A not-for-profit healthcare system with hospitals, primary care clinics, and other healthcare facilities.
• Cushman & Wakefield (https://www.cushmanwakefield.com/en/): A commercial real estate services firm that provides brokerage, leasing, and property management services.
• Dartmouth-Hitchcock Health (https://www.dartmouth-hitchcock.org/): A not-for-profit academic medical center with hospitals, clinics, and research facilities.
• Genova Diagnostics (https://www.gdx.net/): A provider of clinical laboratory testing services.
• Glancy Prongay & Murray LLP (https://www.gpmlaw.com/): A law firm that specializes in complex commercial litigation and regulatory matters.
• Habana Capital Partners (https://www.habana-capital.com/): A private equity firm that invests in lower middle market businesses.
• Marriott Vacations Worldwide (https://www.marriott.com/vacations/): A provider of vacation ownership and exchange services.
• Mission Linen Supply (https://www.missionlinen.com/): A provider of linen and uniform rental services to healthcare and hospitality businesses.
• Nesco Holdings (https://www.nescoholdings.com/): A provider of environmental services, including hazardous waste management and recycling.

Key Revenue Streams of Peapack-Gladstone Financial Corporation

Peapack-Gladstone Financial Corporation (NASDAQ: PGC) is a New Jersey-based bank holding company with a focus on commercial banking and wealth management. As of December 31, 2023, the company had approximately $6.4 billion in assets and reported $298.7 million in total revenue for the year.

Peapack-Gladstone generates revenue through the following key streams:

1. Net Interest Income ($212.5 million in 2023)

• This is the difference between the interest earned on loans and investments and the interest paid on deposits and other borrowings. It is the primary source of revenue for most banks and is driven by the volume of loans and deposits, as well as the interest rate environment.

2. Non-Interest Income ($86.2 million in 2023)

• This includes revenue from various sources, such as:
  • Service charges on deposit accounts and other banking services
  • Fees from wealth management services, including investment advisory, brokerage, and trust services
  • Gains from the sale of securities
  • Other ancillary income

Estimated Annual Revenue

Peapack-Gladstone's total revenue has grown steadily in recent years, driven by both organic growth and acquisitions. The following table shows the company's estimated annual revenue for the past three years:

| Year | Total Revenue | |---|---| | 2023 | $298.7 million | | 2022 | $279.0 million | | 2021 | $263.6 million |

Additional Information

• Peapack-Gladstone has a strong presence in the New York metropolitan area and the Mid-Atlantic region.
• The company offers a full range of banking and financial services to businesses, professionals, and individuals.
• Peapack-Gladstone has a history of profitability and has maintained a strong financial position.

Key Partners of Peapack-Gladstone Financial Corporation

Peapack-Gladstone Financial Corporation is a bank holding company with a primary subsidiary, Peapack-Gladstone Bank. The company provides financial services to small and medium-sized businesses, as well as individuals and families. Peapack-Gladstone Financial Corporation has a number of key partners that help it to provide these services.

1. Customers

Peapack-Gladstone Financial Corporation's customers are the most important partners. The company provides a range of financial services to meet the needs of its customers, including checking and savings accounts, loans, and investment services. Peapack-Gladstone Financial Corporation is committed to providing its customers with excellent service and competitive rates.

2. Employees

Peapack-Gladstone Financial Corporation's employees are another important partner. The company has a team of experienced and dedicated employees who are committed to providing excellent service to its customers. Peapack-Gladstone Financial Corporation is proud to offer its employees a competitive salary and benefits package, as well as opportunities for professional development.

3. Shareholders

Peapack-Gladstone Financial Corporation's shareholders are also important partners. The company is committed to providing its shareholders with a strong return on their investment. Peapack-Gladstone Financial Corporation has a history of paying dividends to its shareholders, and the company is committed to continuing this tradition.

4. Regulators

Peapack-Gladstone Financial Corporation is regulated by a number of government agencies, including the Federal Reserve, the Federal Deposit Insurance Corporation, and the New Jersey Department of Banking and Insurance. These agencies ensure that Peapack-Gladstone Financial Corporation is operating in a safe and sound manner.

5. Community

Peapack-Gladstone Financial Corporation is committed to giving back to the community. The company supports a number of local charities and organizations, and its employees volunteer their time to help make a difference in the community.

6. Other Financial Institutions

Peapack-Gladstone Financial Corporation works with a number of other financial institutions to provide its customers with a full range of financial services. These institutions include correspondent banks, clearinghouses, and investment firms.

7. Technology Providers

Peapack-Gladstone Financial Corporation uses a number of technology providers to help it provide its customers with efficient and convenient banking services. These providers include core banking system providers, online banking providers, and mobile banking providers.

8. Insurance Providers

Peapack-Gladstone Financial Corporation works with a number of insurance providers to offer its customers a range of insurance products, including life insurance, health insurance, and property and casualty insurance.

Website

Peapack-Gladstone Financial Corporation's website is https://www.peapackgladstone.com/. The website provides information about the company's products and services, as well as its history and financial performance. The website also provides contact information for the company's customer service department.

Key Cost Structure of Peapack-Gladstone Financial Corporation

Peapack-Gladstone Financial Corporation (NASDAQ: PGC) is a publicly traded bank holding company headquartered in Bedminster, New Jersey. The company provides a range of financial services to individuals, businesses, and municipalities, primarily in the northeastern United States.

The key cost structure of Peapack-Gladstone Financial Corporation includes:

• Interest expense: This is the cost of paying interest on deposits and borrowings. It is the largest expense category for the company, accounting for approximately 50% of total expenses. In 2022, the company paid $225.1 million in interest expense.

• Salaries and benefits: This is the cost of paying salaries, bonuses, and benefits to employees. It is the second largest expense category for the company, accounting for approximately 25% of total expenses. In 2022, the company paid $115.2 million in salaries and benefits.

• Occupancy and equipment: This is the cost of owning and operating the company's offices and other facilities. It accounts for approximately 10% of total expenses. In 2022, the company spent $46.3 million on occupancy and equipment.

• Technology and systems: This is the cost of developing and maintaining the company's technology systems. It accounts for approximately 5% of total expenses. In 2022, the company spent $23.1 million on technology and systems.

• Other operating expenses: This category includes a variety of other expenses, such as marketing, professional fees, and insurance. It accounts for approximately 10% of total expenses. In 2022, the company spent $46.3 million on other operating expenses.

Estimated Annual Cost

The estimated annual cost of Peapack-Gladstone Financial Corporation's key cost structure is approximately $550 million. This estimate is based on the company's financial statements for the year ended December 31, 2022.

Analysis

Peapack-Gladstone Financial Corporation's key cost structure is typical of a bank holding company. The company's largest expense category is interest expense, which is due to the fact that it is a depository institution. The company's other major expense categories are salaries and benefits, occupancy and equipment, technology and systems, and other operating expenses.

The company's cost structure is relatively stable, with the largest expense categories accounting for a consistent proportion of total expenses over time. This stability is due to the fact that the company's business model and operations are relatively mature.

Sales Channels for Peapack-Gladstone Financial Corporation

Peapack-Gladstone Financial Corporation is a financial holding company that primarily operates through the following sales channels:

1. Commercial Banking (Estimated annual sales: $3.7 billion)

• Provides traditional banking services such as commercial lending, cash management, and deposit services to small and medium-sized businesses, as well as professional practices and not-for-profit organizations.
• Offers specialized lending programs, such as asset-based lending, healthcare lending, and technology lending.

2. Private Banking (Estimated annual sales: $1.5 billion)

• Provides personalized wealth management services to high-net-worth individuals, families, and institutions.
• Offers services such as investment advisory, trust administration, and estate planning.

3. Trust and Wealth Management (Estimated annual sales: $0.8 billion)

• Serves as a fiduciary for trusts, estates, and other investment management accounts.
• Provides professional investment advisory services, including asset allocation, portfolio management, and retirement planning.

4. Insurance (Estimated annual sales: $0.5 billion)

• Offers a range of insurance products, including property and casualty insurance, life insurance, and specialty insurance, to businesses and individuals.
• Distributes insurance products through independent agents and brokers.

5. Capital Markets (Estimated annual sales: $0.2 billion)

• Provides investment banking and advisory services to corporate and institutional clients.
• Assists clients with mergers and acquisitions, capital raises, and other financial transactions.

6. Mortgage Banking (Estimated annual sales: $0.1 billion)

• Originates, sells, and services residential and commercial mortgages.
• Offers a range of mortgage products, including fixed-rate, adjustable-rate, and jumbo mortgages.

The estimated annual sales for each sales channel are based on Peapack-Gladstone Financial Corporation's financial statements and industry research. It's important to note that these figures are estimates and may vary slightly from actual results.

Peapack-Gladstone Financial Corporation is a bank holding company that provides financial services to businesses and individuals in the New York metropolitan area and New Jersey. The company's customer segments include:

• Commercial Banking: This segment provides a range of banking products and services to businesses, including commercial lending, treasury management, and investment banking. Estimated annual sales: $250 million
• Retail Banking: This segment provides a range of banking products and services to individuals, including checking and savings accounts, mortgages, and personal loans. Estimated annual sales: $150 million
• Wealth Management: This segment provides investment management and financial planning services to individuals and families. Estimated annual sales: $100 million

In addition to these core customer segments, Peapack-Gladstone also has a number of other businesses, including:

• Equipment Finance: This segment provides financing for the purchase of equipment, such as machinery, vehicles, and technology. Estimated annual sales: $50 million
• Mortgage Servicing: This segment provides mortgage servicing for a portfolio of residential mortgages. Estimated annual sales: $25 million
• Other: This segment includes a variety of other businesses, such as insurance and trust services. Estimated annual sales: $25 million

Total estimated annual sales for Peapack-Gladstone Financial Corporation: $600 million

Peapack-Gladstone Financial Corporation (PGC) is a financial holding company that provides commercial banking, private banking, wealth management, and investment services to businesses and individuals. PGC's value proposition is based on its commitment to providing personalized service, innovative products, and tailored financial solutions to its clients. Here is a detailed overview of PGC's value proposition:

1. Personalized Service: PGC prides itself on its high level of personalized service. The company's experienced bankers and financial advisors take the time to understand each client's unique financial needs and goals. They work closely with clients to develop customized financial solutions that meet their specific objectives.

2. Innovative Products: PGC offers a wide range of innovative financial products and services to meet the evolving needs of its clients. These products include traditional banking products such as checking and savings accounts, as well as more complex products such as wealth management and investment services.

3. Tailored Financial Solutions: PGC recognizes that each client is unique and has different financial needs. The company's bankers and financial advisors work together to create tailored financial solutions that meet the specific goals and objectives of each client.

4. Strong Financial Performance: PGC has a strong track record of financial performance. The company has consistently reported strong earnings and has a solid capital base. This financial strength allows PGC to provide its clients with the stability and security they need.

5. Commitment to Community: PGC is committed to giving back to the communities it serves. The company supports a variety of local charities and organizations, and its employees volunteer their time to make a difference in their communities.

Target Market: PGC's target market includes businesses, individuals, and families who are looking for a personalized approach to their financial needs. The company focuses on providing services to clients who value personalized service, innovative products, and tailored financial solutions.

Competitive Advantage: PGC's competitive advantage lies in its commitment to providing personalized service, innovative products, and tailored financial solutions to its clients. The company's experienced bankers and financial advisors are dedicated to helping clients achieve their financial goals. PGC's strong financial performance and commitment to community also set it apart from its competitors.

Peapack-Gladstone Financial Corporation (NASDAQ: PGFC)

Peapack-Gladstone Financial Corporation is a bank holding company that provides banking, investment, and wealth management services in the New York and New Jersey metropolitan areas. The company has over $10 billion in assets and operates 34 branches and 56 ATMs.

Risks

Credit risk is the risk that Peapack-Gladstone Financial Corporation's borrowers will not repay their loans. This risk is mitigated by the company's conservative lending practices and its diversified loan portfolio. However, a significant increase in loan defaults could have a negative impact on the company's financial performance.

Interest rate risk is the risk that Peapack-Gladstone Financial Corporation's net interest margin will decline as a result of changes in interest rates. The company's net interest margin is the difference between the interest it earns on its loans and the interest it pays on its deposits. A decline in the net interest margin could reduce the company's profitability.

Liquidity risk is the risk that Peapack-Gladstone Financial Corporation will not be able to meet its financial obligations as they come due. The company's liquidity risk is mitigated by its strong capital position and its access to various sources of funding. However, a significant deterioration in the company's financial condition could make it difficult to meet its financial obligations.

Operational risk is the risk of losses resulting from inadequate or failed internal processes, people, and systems or from external events. Peapack-Gladstone Financial Corporation's operational risk is mitigated by its strong risk management framework and its compliance with applicable laws and regulations. However, operational failures or external events could still cause losses for the company.

Reputational risk is the risk that Peapack-Gladstone Financial Corporation's reputation will be damaged as a result of negative publicity or events. The company's reputation is a valuable asset, and damage to its reputation could have a negative impact on its business.

Overall, Peapack-Gladstone Financial Corporation is a well-managed company with a strong financial profile. However, the company is exposed to a number of risks that could have a negative impact on its financial performance.