Curated News
By: NewsRamp Editorial Staff
October 22, 2025
Peapack-Gladstone Reports Strong Q3 Growth with 21% Earnings Surge
TLDR
- Peapack-Gladstone Financial Corporation reported a 21% increase in Q3 2025 net income to $9.6 million, demonstrating strong financial performance and growth momentum.
- The company achieved growth through $506 million in loan originations at a 6.75% weighted average coupon, while deposits increased $433 million and net interest margin expanded to 2.81%.
- Peapack Private Bank & Trust's expansion into Metro New York created over 850 new client relationships, strengthening community banking services and wealth management for local residents and businesses.
- Wealth management assets under administration grew by $1 billion to $12.9 billion, while the company successfully reduced nonperforming assets by $31 million during the quarter.
Impact - Why it Matters
This financial performance matters because Peapack-Gladstone's strong results reflect broader economic trends in the banking sector, particularly the success of regional banks in expanding into new markets. The company's 21% earnings growth and substantial deposit increases signal confidence in the regional banking model despite ongoing economic uncertainties. For investors, the consistent positive operating leverage and expanding net interest margin demonstrate effective management in a challenging interest rate environment. The successful Metro New York expansion shows how regional banks can compete against larger institutions by focusing on specialized services and relationship banking. For customers in the New York and New Jersey markets, the company's growth means expanded service offerings and potentially more competitive products as Peapack continues to invest in its private banking and wealth management capabilities. The strong capital ratios and improved asset quality also provide reassurance about the stability of regional banking institutions during economic transitions.
Summary
Peapack-Gladstone Financial Corporation (NASDAQ: PGC) has announced robust third quarter 2025 financial results, demonstrating significant growth across multiple business segments. The company reported net income of $9.6 million and diluted earnings per share of $0.54 for the quarter ended September 30, 2025, representing a substantial 21% increase compared to the previous quarter. Under the leadership of President and CEO Douglas L. Kennedy, the company has made impressive progress with its Metro New York expansion strategy, with newly hired teams onboarding more than 850 new client relationships over the past two years, adding over $1.75 billion in core relationship deposits and more than $900 million in new loans. This strategic expansion has enabled Peapack Private Bank & Trust to deliver a fourth consecutive quarter of positive operating leverage while growing core earnings by 54% over the last twelve months.
The company's wealth management division showed particularly strong performance, with assets under management and administration growing by $1.0 billion to reach $12.9 billion at September 30, 2025. Wealth management fee income totaled $15.8 million in Q3 2025, accounting for 22% of total revenue for the quarter. Commercial banking operations also flourished, with total loans increasing $506 million to $6.0 billion, driven primarily by commercial and industrial lending which accounted for 69% of new business originations during the quarter. The net interest margin expanded to 2.81% for Q3 2025, an increase of 4 basis points from the previous quarter, while net interest income grew $2.3 million to $50.6 million. Deposit growth remained strong, with total deposits increasing $433 million to $6.6 billion, strengthening the company's balance sheet liquidity and reducing reliance on outside funding sources. Additional details are available through the company's Q3 2025 Investor Update on their website at www.peapackprivate.com.
Source Statement
This curated news summary relied on content disributed by NewMediaWire. Read the original source here, Peapack-Gladstone Reports Strong Q3 Growth with 21% Earnings Surge
