Peapack-Gladstone Financial Corp (NASDAQ: PGC) is a regional banking company that operates through its subsidiary bank, accepting deposits and originating loans across commercial, mortgage, and consumer categories. It earns money primarily on the spread between interest earned on loans and investments and interest paid on deposits, with interest income totaling $362.5 million in FY2025, up from $327.8 million in FY2024. The loan portfolio spans commercial mortgages, commercial and industrial loans, multifamily properties, residential mortgages, home equity, installment, and construction credits. As of December 31, 2025, total capital stood at $807.6 million against risk-weighted assets at a 12.64% ratio, above the well-capitalized threshold. The bank competes for loans and deposits against other banks, savings institutions, credit unions, mortgage banking companies, money market funds, brokerage firms, consumer finance companies, and insurance companies, many of which have greater financial resources and broader branch networks.

Revenue model

Net interest income: interest earned on loans and investment securities minus interest paid on deposits and borrowings. FY2025 interest income was $362.5 million; FY2024 was $327.8 million; FY2023 was $304.0 million.

Products and services

Commercial mortgages, commercial and industrial loans, multifamily property loans, primary residential mortgages, home equity loans, installment loans, commercial construction loans, lease financing, financial and performance letters of credit, interest rate lock commitments on residential mortgages, checking accounts, savings accounts, money market deposit accounts.

Customers and end markets

Commercial real estate borrowers, commercial and industrial borrowers, multifamily property owners, residential mortgage borrowers, retail deposit customers, U.S. governmental entities (noted as borrowers in prior periods). Customer relationships are individually tracked; as of December 31, 2025, individually evaluated (nonaccrual) loans covered 49 relationships totaling $68.2 million.

Value-chain role

Deposit-taking and loan-originating community bank. Funds loans primarily through client deposits; competes for low-cost deposit funding against banks, credit unions, and uninsured investment alternatives. Acts as direct lender, not a loan distributor or servicer.

Geographic exposure

Filing does not specify a detailed state-by-state or market-level geographic breakdown beyond referencing competitors with wider geographic presence, implying a more concentrated local footprint.

Competitors

Other banks, Savings institutions, Credit unions, Mortgage banking companies, Money market funds, Brokerage firms, Consumer finance companies, Insurance companies, Governmental lending organizations

Source: SEC 10-K, filed 2026-03-11

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