NASDAQ : PGC
Peapack-Gladstone Financial Corporation — Financial statements
Financials · Banks - Regional · United States
Last price 45.91 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 805.09M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 354.92M | 321.33M | 290.75M | 278.17M | 195.20M | 147.81M |
| Interest Income on Investments | 41.20M | 41.20M | 37.05M | 25.84M | 16.68M | 12.25M |
| Total Interest Income | 396.11M | 362.52M | 327.80M | 304.01M | 211.88M | 160.07M |
| Interest Paid on Deposits | 143.46M | 156.81M | 168.21M | 122.88M | 29.49M | 14.22M |
| Interest Paid on Borrowings | 4.81M | 4.81M | 10.58M | 25.05M | 6.30M | 7.79M |
| Total Interest Expense | 148.26M | 161.62M | 178.79M | 147.92M | 35.80M | 22.01M |
| Net Interest Income | 247.85M | 200.91M | 149.01M | 156.09M | 176.08M | 138.06M |
| Trust Income | 67.07M | 63.24M | 61.46M | 55.75M | 54.65M | 52.99M |
| Gain (Loss) on Sale of Assets | 275.00K | |||||
| Gain (Loss) on Sale of Investments | 432.00K | 432.00K | 828.00K | 181.00K | -8.31M | -432.00K |
| Other Non-Interest Income | 16.65M | 16.18M | 15.20M | 15.09M | 12.53M | 10.96M |
| Total Non-Interest Income | 85.50M | 81.20M | 78.89M | 73.54M | 66.39M | 71.79M |
| Revenues Before Loan Losses | 333.35M | 282.11M | 227.89M | 229.63M | 242.47M | 209.85M |
| Provision for Loan Losses | 31.59M | 23.52M | 7.50M | 14.09M | 6.35M | 6.47M |
| Revenue | 301.77M | 258.59M | 220.39M | 215.53M | 236.12M | 203.37M |
| Salaries and Employee Benefits | 145.83M | 139.97M | 116.38M | 89.59M | 80.95M | 74.68M |
| Occupancy Expenses | 21.21M | 19.62M | 16.42M | 19.73M | 18.72M | 17.16M |
| Federal Deposit Insurance | 6.00M | 4.81M | 3.51M | 2.95M | 1.94M | 2.07M |
| Selling, General & Administrative | 17.46M | 14.56M | 14.12M | 12.80M | 10.41M | 8.47M |
| Other Non-Interest Expense | 29.29M | 28.20M | 25.25M | 23.22M | 21.58M | 22.90M |
| Total Non-Interest Expense | 219.79M | 207.17M | 175.68M | 148.29M | 133.60M | 125.29M |
| EBT Excluding Unusual Items | 81.97M | 51.43M | 44.72M | 67.24M | 102.52M | 78.08M |
| Other Unusual Items | 875.00K | 875.00K | -648.00K | |||
| Pretax Income | 82.86M | 52.31M | 44.95M | 67.28M | 102.34M | 77.66M |
| Income Tax Expense | 21.63M | 14.98M | 11.96M | 18.43M | 28.10M | 21.04M |
| Net Income | 61.23M | 37.33M | 32.99M | 48.85M | 74.25M | 56.62M |
| Net Income to Common | 60.54M | 37.33M | 32.99M | 48.85M | 74.25M | 56.62M |
| Basic Shares Outstanding | 17.65M | 17.61M | 17.66M | 17.85M | 18.16M | 18.79M |
| Diluted Shares Outstanding | 18.30M | 17.75M | 17.84M | 18.05M | 18.57M | 19.29M |
| EPS (Basic) | 3.43 | 2.12 | 1.87 | 2.74 | 4.09 | 3.01 |
| EPS (Diluted) | 3.34 | 2.10 | 1.85 | 2.71 | 4.00 | 2.93 |
| Dividend Per Share | 0.05 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 |
| Effective Tax Rate | 26.10% | 28.64% | 26.61% | 27.39% | 27.45% | 27.09% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 268.88M | 187.82M | 391.37M | 187.67M | 190.07M | 146.80M |
| Investment Securities | 902.16M | 297.30M | 288.97M | 282.99M | 281.89M | 374.46M |
| Trading Asset Securities | 10.28M | 29.24M | 30.64M | 47.55M | 32.33M | |
| Mortgage-Backed Securities | 586.23M | 610.25M | 388.55M | 388.03M | 545.65M | |
| Total Investments | 902.16M | 893.80M | 928.46M | 702.18M | 717.48M | 952.44M |
| Gross Loans | 7.08B | 6.25B | 5.51B | 5.43B | 5.29B | 4.81B |
| Allowance for Loan Losses | -72.95M | -71.04M | -72.99M | -65.89M | -60.83M | -61.70M |
| Net Loans | 7.01B | 6.18B | 5.44B | 5.36B | 5.22B | 4.75B |
| Property, Plant & Equipment | 86.12M | 79.89M | 70.16M | 38.35M | 39.54M | 36.40M |
| Goodwill | 36.21M | 36.21M | 36.21M | 36.21M | 36.21M | |
| Other Intangible Assets | 43.12M | 7.63M | 8.71M | 9.80M | 11.12M | 12.69M |
| Loans Held for Sale | 4.89M | 8.59M | 6.79M | 15.63M | 37.09M | |
| Accrued Interest Receivable | 35.30M | 32.51M | 30.75M | 32.05M | 26.25M | 26.43M |
| Long-Term Deferred Tax Assets | 772.00K | 16.38M | 505.00K | |||
| Other Real Estate Owned & Foreclosed | 96.00K | 116.00K | ||||
| Other Long-Term Assets | 130.94M | 85.58M | 68.89M | 68.81M | 62.09M | 71.95M |
| Total Assets | 8.50B | 7.53B | 7.01B | 6.48B | 6.35B | 6.08B |
| Accrued Expenses | 54.06M | 75.61M | 40.47M | 30.84M | 39.45M | |
| Interest Bearing Deposits | 5.80B | 5.02B | 4.88B | 4.21B | 3.87B | 4.17B |
| Institutional Deposits | 138.10M | 137.30M | 105.90M | 91.10M | 140.40M | |
| Non-Interest Bearing Deposits | 1.56B | 1.43B | 1.11B | 957.69M | 1.25B | 956.48M |
| Total Deposits | 7.36B | 6.59B | 6.13B | 5.27B | 5.21B | 5.27B |
| Short-Term Borrowings | 281.12M | 81.11M | 21.43M | 427.64M | 417.80M | 38.05M |
| Current Portion of Leases | 7.01M | |||||
| Accrued Interest Payable | 541.00K | 849.00K | 1.37M | |||
| Long-Term Debt | 99.03M | 133.56M | 133.27M | 132.99M | 132.70M | |
| Long-Term Leases | 47.86M | 37.47M | 44.92M | 16.31M | 18.40M | 15.93M |
| Long-Term Deferred Tax Liabilities | 15.43M | 39.32M | ||||
| Total Liabilities | 7.76B | 6.87B | 6.41B | 5.89B | 5.82B | 5.53B |
| Common Stock | 735.63M | 18.10M | 17.95M | 17.83M | 17.51M | 17.22M |
| Additional Paid-In Capital | 353.27M | 348.26M | 346.95M | 338.71M | 332.36M | |
| Retained Earnings | 457.36M | 423.55M | 394.09M | 348.80M | 274.29M | |
| Treasury Stock | -122.95M | -117.51M | -110.32M | -97.83M | -65.10M | |
| Comprehensive Income & Other | -47.56M | -66.41M | -64.88M | -74.21M | -12.37M | |
| Shareholders' Equity | 735.63M | 658.21M | 605.85M | 583.68M | 532.98M | 546.39M |
| Total Liabilities & Equity | 8.50B | 7.53B | 7.01B | 6.48B | 6.35B | 6.08B |
| Total Debt | 328.98M | 224.62M | 199.90M | 577.22M | 569.18M | 186.68M |
| Net Cash (Debt) | -60.10M | -26.53M | 220.70M | -358.91M | -331.55M | -7.55M |
| Net Cash Per Share | -3.28 | -1.49 | 12.37 | -19.89 | -17.86 | -0.39 |
| Filing Date Shares Outstanding | 17.54M | 17.44M | 17.46M | 17.58M | 17.59M | 17.33M |
| Total Common Shares Outstanding | 17.54M | 17.42M | 17.45M | 17.56M | 17.58M | 17.47M |
| Book Value Per Share | 41.95 | 37.78 | 34.72 | 33.23 | 30.32 | 31.28 |
| Tangible Book Value | 692.51M | 614.37M | 560.92M | 537.67M | 485.65M | 497.49M |
| Tangible Book Value Per Share | 39.49 | 35.26 | 32.14 | 30.61 | 27.63 | 28.48 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 37.33M | 32.99M | 48.85M | 74.25M | 56.62M | |
| Depreciation & Amortization | 5.20M | 4.63M | 5.01M | 5.04M | 4.79M | |
| Other Amortization | 469.00K | 287.00K | 287.00K | 286.00K | 1.00M | |
| Gain (Loss) on Sale of Assets | 304.00K | 102.00K | 6.00K | -275.00K | -51.00K | |
| Gain (Loss) on Sale of Investments | -510.00K | -586.00K | 397.00K | 10.97M | 6.25M | |
| Provision for Credit Losses | 23.52M | 7.50M | 14.09M | 6.35M | 6.47M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 5.42M | -422.00K | 11.36M | 23.71M | -5.42M | |
| Accrued Interest Receivable | -2.07M | 778.00K | -5.52M | -3.57M | 906.00K | |
| Change in Other Net Operating Assets | -38.47M | 35.82M | 2.51M | 6.84M | -5.26M | |
| Other Operating Activities | 7.78M | -14.53M | -15.32M | -6.00M | 11.24M | |
| Operating Cash Flow | 43.13M | 71.10M | 70.08M | 118.90M | 75.46M | |
| Capital Expenditures | -14.55M | -8.10M | -3.28M | -3.52M | -3.93M | |
| Sale of Property, Plant and Equipment | 428.00K | 277.00K | ||||
| Cash Acquisitions | -5.50M | |||||
| Investment in Securities | 48.27M | -231.21M | 9.17M | 145.76M | -308.79M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -767.25M | -83.37M | -153.11M | -480.86M | -437.66M | |
| Other Investing Activities | -2.23M | 18.82M | -372.00K | -17.72M | 1.98M | |
| Investing Cash Flow | -735.76M | -303.43M | -147.48M | -356.07M | -753.80M | |
| Short-Term Debt Issued | 73.27M | 24.28M | 379.53M | |||
| Total Debt Issued | 73.27M | 24.28M | 379.53M | |||
| Short-Term Debt Repaid | -403.81M | -15.00M | ||||
| Long-Term Debt Repaid | -35.00M | -227.09M | ||||
| Total Debt Repaid | -35.00M | -403.81M | -242.09M | |||
| Net Debt Issued (Repaid) | 38.27M | -403.81M | 24.28M | 379.53M | -242.09M | |
| Issuance of Common Stock | 1.13M | 857.00K | 1.06M | 1.20M | 1.02M | |
| Repurchase of Common Stock | -6.69M | -8.07M | -15.74M | -35.66M | -31.01M | |
| Common Dividends Paid | -3.52M | -3.53M | -3.56M | -3.65M | -3.77M | |
| Net Increase (Decrease) in Deposit Accounts | 459.96M | 854.91M | 68.95M | -60.98M | 447.67M | |
| Other Financing Activities | -58.00K | -4.34M | ||||
| Financing Cash Flow | 489.08M | 436.02M | 75.00M | 280.44M | 171.82M | |
| Net Cash Flow | -203.55M | 203.70M | -2.40M | 43.27M | -506.52M | |
| Free Cash Flow | 28.58M | 63.01M | 66.80M | 115.38M | 71.53M | |
| Free Cash Flow Margin | 11.05% | 28.59% | 30.99% | 48.87% | 35.17% | |
| Free Cash Flow Per Share | 1.61 | 3.53 | 3.70 | 6.21 | 3.71 | |
| Cash Interest Paid | 163.97M | 170.80M | 141.17M | 33.16M | 22.36M | |
| Cash Income Tax Paid | 19.68M | 17.67M | 18.47M | 25.00M | 16.08M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 794.92M | 485.26M | 559.27M | 525.89M | 658.32M | 626.48M |
| Last Close Price | 45.33 | 27.75 | 31.70 | 29.28 | 36.29 | 34.32 |
| PE Ratio | 13.57 | 13.00 | 16.95 | 10.77 | 8.87 | 11.06 |
| PS Ratio | 2.63 | 1.88 | 2.54 | 2.44 | 2.79 | 3.08 |
| PB Ratio | 1.08 | 0.74 | 0.92 | 0.90 | 1.24 | 1.15 |
| P/FCF Ratio | 7.79 | 16.98 | 8.88 | 7.87 | 5.71 | 8.76 |
| P/OCF Ratio | 7.17 | 11.25 | 7.87 | 7.50 | 5.54 | 8.30 |
| Debt / Equity Ratio | 0.45 | 0.34 | 0.33 | 0.99 | 1.07 | 0.34 |
| Debt / FCF Ratio | 7.86 | 3.17 | 8.64 | 4.93 | 2.61 | |
| Net Debt / Equity Ratio | 0.08 | 0.04 | -0.36 | 0.61 | 0.62 | 0.01 |
| Net Debt / FCF Ratio | 0.93 | -3.50 | 5.37 | 2.87 | 0.11 | |
| Return on Equity (ROE) | 8.89% | 5.91% | 5.55% | 8.75% | 13.76% | 10.55% |
| Return on Assets (ROA) | 0.77% | 0.51% | 0.49% | 0.76% | 1.19% | 0.95% |
| Earnings Yield | 7.37% | 7.69% | 5.90% | 9.29% | 11.28% | 9.04% |
| FCF Yield | 12.83% | 5.89% | 11.27% | 12.70% | 17.53% | 11.42% |
| Dividend Yield | 0.44% | 0.72% | 0.62% | 0.67% | 0.53% | 0.56% |
| Payout Ratio | 5.99% | 9.43% | 10.70% | 7.28% | 4.91% | 6.67% |
| Buyback Yield / Dilution | -2.52% | 0.50% | 1.16% | 2.79% | 3.75% | -1.11% |
| Total Shareholder Return | -2.08% | 1.22% | 1.78% | 3.46% | 4.29% | -0.55% |