PGC

Interested in Peapack-Gladstone Financial Corporation? Here are five stocks we like better. Strong quarterly performance: Second-quarter net income available to common shareholders rose 11% sequentially and 99% year over year to $15.8 million, while revenue increased 23% year over year to $86.1 million. Management said it remains on track to reach a 1% return on assets and 10% return on equity by late this year or early next year. Balance-sheet and operating momentum: Net interest income rose to $63.9 million, net interest margin expanded to 3.32%, deposits grew to $7.1 billion and loans reached $6.7 billion. Wealth-management fees increased, expenses remained nearly flat, and the efficiency ratio improved to 65% for the seventh consecutive quarter. Credit risks remain concentrated: Nonperforming assets rose to $72.2 million, primarily due to a multifamily relationship now in foreclosure proceedings, while net charge-offs totaled $5.9 million. Management said it saw no broad-based portfolio deterioration but expects quarterly provisions of about $7.5 million through year-end. Peapack-Gladstone Financial (NASDAQ:PGC) reported second-quarter net income available to common shareholders of $15.8 million, or $0.85 per diluted share, as higher net interest income, wealth-management fees and loan growth supported results. The quarter’s net income increased 11% from $14.2 million, or $0.80 per share, in the first quarter and was 99% higher than a year earlier, President and CEO Doug Kennedy said during the company’s earnings call. Total revenue rose 4% sequentially and 23% year over year to $86.1 million. → Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit Kennedy said the company’s revenue and profitability have improved for seven consecutive quarters and that management remains on track to reach a 1% return on assets and 10% return on equity by the fourth quarter, potentially extending into the first quarter of next year. Net interest income totaled $63.9 million, rising $4 million from the prior quarter and $15.6 million from the year-ago period. Chief Financial Officer Frank Cavallaro said the increase reflected balance-sheet expansion, loan-pricing discipline and improving earning-asset yields. → This Tiny AI Supplier Could Be More Important Than the Chipmakers Net interest margin increased 6 basis points during the quarter to 3.32%. Cavallaro said new loan originations carried average yields “just north of 6%,” while repricing of existing loans also contributed to higher asset yields. Management reiterated its expectation that net interest margin will expand by a total of 6 to 9 basis points through the end of the year compared with the first quarter. However, executives cautioned that margin performance may not advance steadily each quarter amid a more competitive deposit market and timing differences between deposit inflows and loan fundings. → 2 Stocks Built to Thrive If Inflation Refuses to Fade “We may give some back over the coming quarters,” Cavallaro said, while maintaining that the company’s longer-term outlook for quarterly margin expansion remained intact. Non-interest income was $22.1 million, including $17.2 million in wealth-management fee income. Wealth-management fees rose 4% sequentially and 8% from a year earlier. Kennedy said the wealth-management business grew 6% year to date and 13% year over year, with positive client flows. Operating expenses were $55.7 million, up less than 1% from the first quarter. Cavallaro said revenue growth outpaced expense growth by roughly 10 to one, helping drive positive operating leverage. The reported efficiency ratio declined to 65%, marking the seventh consecutive quarter of improvement. Total deposits increased $231 million during the quarter to $7.1 billion, up 11% from a year ago. About $80 million of quarterly deposit growth was in non-interest-bearing accounts, and management said 35% of the quarter’s total deposit growth came from non-interest-bearing deposits. Over the past year, non-interest-bearing deposits grew $386 million, accounting for 56% of deposit growth, Kennedy said. The company opened and funded more than 650 new non-interest-bearing demand deposit accounts during the quarter. Kennedy said the deposit pipeline remained robust, with management continuing to target approximately $200 million in quarterly deposit growth, about one-third of which is expected to be non-interest-bearing. Deposits added during the quarter carried an average cost of about 2.5%, executives said. Total loans increased $236 million to $6.7 billion, representing 15% year-over-year growth. Growth was concentrated in commercial and industrial lending and commercial real estate, while multifamily loans declined by $21 million during the quarter and $58 million year to date. Chief Credit Officer Lisa Chalkan said management expects loan growth of about $300 million, which would require closing approximately $450 million to $500 million of loan volume. The loan-to-deposit ratio was approximately 95% at quarter-end. The provision for credit losses was $8.1 million, while net charge-offs totaled $5.9 million and were concentrated in one multifamily loan and one commercial mortgage relationship. Nonperforming assets increased to $72.2 million from 0.77% of total assets in the first quarter, primarily due to the migration of a previously disclosed larger multifamily relationship. Chalkan said the company has begun foreclosure proceedings on the multifamily relationship and is seeking appointment of a receiver. She noted that foreclosure proceedings in New York City can be prolonged and that the company could consider selling the note if appropriate. Management said special-mention loans declined, performing modifications decreased materially and early-stage delinquencies remained relatively stable. Executives said they did not see evidence of broad-based deterioration across the portfolio, though repricing and maturity activity over the next six quarters could create volatility as the company negotiates with borrowers individually. The allowance for credit losses remained at 1.04% of total loans. Management said it expects provisions to remain around $7.5 million per quarter through year-end, partly reflecting loan growth and economic conditions incorporated into its reserve model. Tangible book value per share rose 3% during the quarter to $36.26 and was up 9% from a year earlier. Holding-company common equity Tier 1 capital stood at 10.38%. In July, the company drew the remaining $20 million under a previously announced $50 million convertible preferred equity commitment. Peapack-Gladstone had initially drawn $30 million in March. Kennedy said the company has hired 20 teams and nearly 200 professionals since 2023 to serve the metro New York market, including Westchester and Long Island. He said those investments temporarily affected earnings but that the business has since become profitable. The company is expanding private-banking offerings for affluent clients, including life-insurance premium finance, jumbo mortgages, home-equity lines, investment and professional lines of credit, and financing for fine art, collectibles, aviation and yachts. “The investment is clearly behind us,” Kennedy said, adding that management sees continued momentum entering the third quarter and through the remainder of the year. Peapack-Gladstone Financial Corporation is the parent company of Peapack-Gladstone Bank, a New Jersey-chartered commercial bank headquartered in Bedminster, New Jersey, that trades on the NASDAQ under the symbol PGC. Through Peapack-Gladstone Bank, the company offers a broad range of deposit and lending solutions, including checking and savings accounts, residential and commercial real estate loans, lines of credit and treasury management services. Clients benefit from both in-branch relationship banking and an expanding suite of digital banking tools designed to support personal and business financial needs. Complementing its core banking operations, Peapack-Gladstone Financial provides wealth management, trust and financial planning services through its subsidiary, Peapack-Gladstone Wealth Management. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Peapack-Gladstone Financial Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

This article first appeared on GuruFocus. Release Date: July 28, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Peapack Gladstone Financial Corp (NASDAQ:PGC) reported net income of $15.8 million, marking an 11% increase on a linked-quarter basis and a 99% year-over-year increase. The Wealth Management business grew 6% year-to-date and 13% year-over-year, with positive flows. Deposits grew by $231 million in the quarter, with 35% being non-interest-bearing, indicating strong relationship quality. The company has successfully built a profitable de novo bank in New York in under two years, demonstrating effective strategic execution. Net interest margin increased by 6 basis points to 3.32%, driven by improved asset yields and disciplined pricing. The competition for deposits has increased markedly, leading to potential headwinds in pricing. Non-performing assets increased to $72.2 million, primarily due to a larger multifamily relationship. The provision for credit losses was $8.1 million, with net charge-offs concentrated in one multifamily loan and one commercial mortgage relationship. Operating expenses increased slightly, up less than 1% from the first quarter, though revenue growth outpaced expense growth. The company anticipates potential variability in net interest margin due to strong growth opportunities and elevated competition for deposits. Warning! GuruFocus has detected 3 Warning Signs with BA. Is PGC fairly valued? Test your thesis with our free DCF calculator. Q: Could we have an update on the deposit growth pipeline and the mix? A: Doug Kennedy, President and CEO, stated that the pipeline strength is consistent with past performance. They expect about $200 million in deposits each quarter, with a third being non-interest-bearing. The pipeline inventory is robust, indicating a positive outlook for the rest of the year. Q: It sounds like loan pipelines are strong. Can you comment on the market and expected growth mix? A: Doug Kennedy confirmed strong loan pipelines, with expectations of $300 million in growth, requiring $450 million to $500 million in closings. Lisa Chalkin, Chief Credit Officer, added that the growth is expected to be stronger than the previous quarter. Q: Is the strong growth affecting the net interest margin (NIM)? A: Doug Kennedy explained that timing mismatches between deposits and loan funding, along with elevated competition and rates, could impact NIM. Despite strong performance, they anticipate potential headwinds and variability in NIM due to these factors. Q: What costs were deposits coming on at during the quarter? A: Frank Cavallero, CFO, stated that new deposits were added at about 2.5% during the quarter. Q: On the multifamily MPA inflow, do you have any indication on resolution timing? A: Lisa Chalkin mentioned that the foreclosure process in New York City is protracted post-COVID. They are negotiating with the client and awaiting a receiver appointment. The process could take time, but they may consider selling the note if it makes sense. Q: Can you size up the BackBook repricing opportunity and the roll-off yields? A: Doug Kennedy noted that about $1.5 billion will reprice over the next six quarters, with current rates at six and change. They expect a pickup of north of 1% to $1.25 billion on the repricing. Q: Can you talk about criticized loans and past rated within past dues? A: Lisa Chalkin explained that about $20 million is in special mention, with the balance in past due. The pass rate loans are in the 30-day bucket, while special mention loans are 61 days past due. Q: Does the reserve already anticipate some downgrades? A: Lisa Chalkin and Doug Kennedy indicated that the reserve covers potential downgrades, with specific reserves adjusted based on updated appraisals. They expect the provision to remain at $7.5 million due to negotiations and economic conditions. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Peapack-Gladstone (PGC) came out with quarterly earnings of $0.85 per share, missing the Zacks Consensus Estimate of $0.87 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -2.30%. A quarter ago, it was expected that this bank holding company would post earnings of $0.66 per share when it actually produced earnings of $0.8, delivering a surprise of +21.21%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Peapack-Gladstone, which belongs to the Zacks Banks - Northeast industry, posted revenues of $86.05 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.24%. This compares to year-ago revenues of $69.74 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Peapack-Gladstone shares have added about 66.5% since the beginning of the year versus the S&P 500's gain of 8.3%. While Peapack-Gladstone has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Peapack-Gladstone was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.01 on $88.9 million in revenues for the coming quarter and $3.76 on $347.87 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Citizens & Northern (CZNC), another stock in the same industry, has yet to report results for the quarter ended June 2026. This bank is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of +57.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Citizens & Northern's revenues are expected to be $38.6 million, up 30.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Peapack-Gladstone Financial Corporation (PGC) : Free Stock Analysis Report Citizens & Northern Corp (CZNC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

For the quarter ended June 2026, Peapack-Gladstone (PGC) reported revenue of $86.05 million, up 23.4% over the same period last year. EPS came in at $0.85, compared to $0.45 in the year-ago quarter. The reported revenue represents a surprise of +0.24% over the Zacks Consensus Estimate of $85.84 million. With the consensus EPS estimate being $0.87, the EPS surprise was -2.3%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Peapack-Gladstone performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Efficiency ratio: 64.7% compared to the 64.9% average estimate based on three analysts. Net interest margin: 3.3% compared to the 3.3% average estimate based on three analysts. Average Balance - Total interest-earning assets: $7.76 billion compared to the $7.81 billion average estimate based on two analysts. Total Noninterest Income: $22.13 million versus the three-analyst average estimate of $22.16 million. Wealth management fee income: $17.22 million versus $16.83 million estimated by two analysts on average. Service Charges and Fees: $1.39 million versus the two-analyst average estimate of $1.36 million. Net Interest Income (FTE): $64.14 million compared to the $63.85 million average estimate based on two analysts. Net Interest Income: $63.92 million compared to the $63.52 million average estimate based on two analysts. View all Key Company Metrics for Peapack-Gladstone here>>> Shares of Peapack-Gladstone have returned -3.4% over the past month versus the Zacks S&P 500 composite's +0.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Peapack-Gladstone Financial Corporation (PGC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

BEDMINSTER, N.J., July 27, 2026 (GLOBE NEWSWIRE) -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) (the "Company") announces its second quarter 2026 financial results. This earnings release should be read in conjunction with the Company’s Q2 2026 Investor Update, a copy of which is available on our website at www.peapackprivate.com and via a Current Report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. The Company reported second quarter 2026 financial results that reflect continued execution of its private banking strategy and demonstrate accelerating earnings momentum. Revenue increased for the ninth consecutive quarter while expense growth continued to normalize, producing another quarter of meaningful positive operating leverage. These results reflect the maturation of the Company's strategic investments across the Metropolitan New York market and reinforce management's confidence in the long-term earnings power of the franchise. Douglas L. Kennedy, President and CEO stated, “During the industry disruption of 2023, we invested significantly to expand our presence in Metropolitan New York. Since then, we have added 20 experienced banking teams and nearly 200 professionals, opened our flagship financial center on Park Avenue, and rebranded the Company as Peapack Private Bank & Trust. These investments temporarily affected earnings, but they created the platform that is now producing sustained growth and improving profitability. " Mr. Kennedy added, "These actions capture our unique brand that seamlessly combines traditional banking with wealth management delivered through a single point of contact. The quality of growth is very strong as our bankers continue to onboard longstanding relationships, introducing clients to a broader range of banking, treasury, and wealth solutions. This integrated approach is deepening relationships and allowing us to compete effectively with much larger institutions.” Our second quarter results reflect continued momentum and sustainability in delivering enhanced shareholder value. Revenue grew by 23% year-over-year, while operating expenses increased by only 7%, producing approximately 70% growth in pre-provision net revenue year-over-year. This positive operating leverage led to net income available to common shareholders of $15.8 million, or $0.85 per diluted share for the second quarter, compared to $14.2 million, or $0.80 per diluted share, for the linked quarter and $7.9 million, or $0.45 per diluted share for the June 30, 2025 quarter. This led to an increase of 11% of net income on a linked quarter basis and earnings per diluted share increased 89% year-over-year. During the first quarter the Company also announced a commitment by Strategic Value Bank Partners to purchase up to $50 million of convertible preferred stock. Strategic Value Bank Partners is a well-known, long-term investor primarily focused on the banking sector.  The commitment included an initial $30 million private placement of the preferred stock which closed during March 2026 with the ability to issue an additional $20 million through the end of 2027. Based on this quarter’s results and our continued momentum and projected growth, we elected to issue the remaining $20 million of our 6% non-cumulative perpetual convertible preferred stock on July 24, 2026. Mr. Kennedy added, “We remain focused on maintaining the capital necessary to support growth prudently. The additional preferred equity enhances our financial flexibility as earnings continue to strengthen and move the Company toward greater organic capital generation.” Second Quarter Highlights: Net income available to common shareholders of $15.8 million, or $0.85 per diluted share Total revenue of $86.1 million, representing the ninth consecutive quarter of revenue growth Net interest income: $63.9 million, up 7% on a linked quarter and 32% year-over-year Net interest margin: 3.32%, an increase of 6 basis points compared to the previous quarter and 55 basis points year-over-year Loan growth: $6.7 billion in total loans, an increase of $854 million year-over-year Deposits: $7.1 billion at June 30, 2026, an increase of $694 million year-over-year Wealth management: $13.9 billion in assets under management and administration, up 13% year-over-year Wealth management fee income: $17.2 million or 20% of total revenue Shareholders' equity: $715.8 million at June 30, 2026, an increase of $86 million year-over-year Shareholder value: Tangible book value per share increased 9% year-over-year to $36.26. Book value per share increased 8% year-over-year to $38.70 Earnings and Operating Leverage The Company had strong revenue growth of 23% year-over-year, with total revenue of $86.1 million for the second quarter of 2026, compared to $82.5 million for the first quarter of 2026 and $69.7 million for the second quarter of 2025. Revenue growth has been primarily attributable to the consistent improvement in net interest income over the last twelve months. The increase in revenue growth translated into higher earnings driving positive operating leverage and improved profitability. Operating expenses continued to normalize this quarter, increasing at a more moderate pace to $55.7 million for the second quarter of 2026, compared to $55.4 million for the first quarter of 2026 and $51.9 million for the second quarter of 2025. The GAAP efficiency ratio improved for a seventh consecutive quarter to approximately 65%. Net Interest Income and Margin Net interest income totaled $63.9 million for the second quarter of 2026, an increase of $4.0 million, or 7%, from the first quarter of 2026 and an increase of $15.6 million, or 32%, from the second quarter of 2025. Net interest margin expanded to 3.32% compared to 3.26% in the prior quarter and 2.77% in the second quarter of 2025, continuing the upward trend over the past several quarters. This improvement in net interest income and net interest margin was primarily supported by balance sheet repositioning, disciplined pricing and improved earning-asset yields. Loans / Commercial Banking Total loans increased $235.9 million, or 15% annualized, to $6.7 billion at June 30, 2026, compared to $6.4 billion at March 31, 2026. Loans increased year-over-year $854.1 million, or 15%. Growth remained concentrated in our core areas of strength, particularly C&I and commercial real estate. Commercial mortgage activity was bolstered by sponsor demand for stabilized assets and refinancing activity. C&I growth was driven by business expansion and capital investment. Total C&I loans and leases at June 30, 2026 were $2.9 billion, or 44% of the total loan portfolio. Mr. Kennedy noted, “The quality of our loan growth remains as important as the pace of growth. Our bankers are onboarding core relationships and connecting commercial banking, personal banking, treasury management and wealth management through a single point of contact. This model allows us to deepen the connection with our customers and compete effectively against much larger institutions." Wealth Management John Babcock, President of the Bank’s Wealth Management Division, stated, “Wealth Management delivered another strong quarter, supported by $205 million of gross client inflows and favorable market performance. Our integrated model continues to create opportunities to introduce investment management, trust, tax, financial planning and other advisory services to banking relationships, while also delivering banking and credit solutions to wealth clients.” Funding / Liquidity / Interest Rate Risk Management Total deposits increased $230.8 million, or 14% annualized, to $7.1 billion at June 30, 2026, from $6.8 billion at March 31, 2026. Relationship-based deposits have created solid franchise value for our Company. Noninterest-bearing deposits increased by $79.7 million during the quarter, which represented 56% of the deposit growth over the last twelve months and a meaningful portion of total funding, supporting both margin expansion and balance sheet stability. The Company’s liquidity profile remains strong with a loan-to-deposit ratio of 95%. At June 30, 2026, the Company’s balance sheet liquidity totaled $1.0 billion, or 13% of total assets. The Company maintains additional liquidity resources of approximately $4.0 billion through secured available borrowing facilities with the Federal Home Loan Bank and the Federal Reserve Discount Window.  The available funding from the Federal Home Loan Bank and the Federal Reserve are secured by the Company’s loan and investment portfolios. The Company's total on and off-balance sheet liquidity totaled $5.0 billion at June 30, 2026, which amounted to 204% of the total uninsured/uncollateralized deposits currently on the Company’s balance sheet. The Company continues to maintain a well-diversified funding base with a high level of operating deposits and no reliance on brokered funding. Asset Quality / Provision for Credit Losses Nonperforming assets increased to $72.2 million, or 0.91% of total assets compared to $59.3 million, or 0.77% of total assets, at March 31, 2026. The increase in nonperforming assets during the second quarter of 2026 was largely driven by the migration of a previously disclosed larger well secured multifamily relationship to nonaccrual status. Loans past due 30 through 89 days and still accruing increased slightly to $48.1 million, or 0.72% of total loans at June 30, 2026, compared to $47.1 million, or 0.73% of total loans, at March 31, 2026. Loans subject to special mention and performing modifications have declined in the second quarter of 2026. Mr. Kennedy noted, “We continue to manage credit issues proactively and conservatively. While isolated relationships have affected certain credit metrics, criticized and classified loan trends have improved over time, reserve coverage remains appropriate and we continue to see no evidence of broad-based deterioration across the portfolio." The provision for credit losses totaled $8.1 million for the second quarter of 2026, compared to $7.3 million for the first quarter of 2026 and $6.6 million for the June 30, 2025 quarter. The second quarter provision was primarily attributable to loan growth of $235.9 million resulting in a provision of $2.9 million, in addition to changes in specific reserves which required a provision of $3.9 million. At June 30, 2026, the allowance for credit losses ("ACL") was $69.2 million (1.04% of total loans), compared to $67.0 million (1.04% of total loans) at March 31, 2026.  The increase in the ACL was due to the provision for credit losses of $8.1 million partially offset by net charge-offs of $5.9 million. Charge-offs consisted of $6.1 million during the period associated with the sale of one multifamily loan with a balance totaling $7.2 million. Specific reserves of $2.4 million, related to this charge-off, had been established in prior periods. This charge-off was partially offset by recoveries of $231,000 during the second quarter of 2026. Capital The Company’s capital position remained solid during the second quarter of 2026 and continued to benefit from earnings generation.  Based on this quarter’s results and our continued momentum, we elected in July to issue the remaining $20 million of our 6% non-cumulative perpetual convertible preferred stock available under the $50 million commitment announced in the first quarter. Based on current results, projected growth and capital needs, management determined that completing the remaining issuance was appropriate to support continued relationship-based balance sheet growth, while maintaining prudent capital levels. Tangible book value per share increased 9% to $36.26 per share at June 30, 2026 from $33.19 at June 30, 2025. See Non-GAAP financial measures reconciliation included in these tables. Book value per share increased 8% to $38.70 per share at June 30, 2026 compared to $35.71 at June 30, 2025. The Company’s and Bank’s regulatory capital ratios as of June 30, 2026 remain strong. The Tier 1 Leverage Ratio at June 30, 2026 was 8.96% for the Bank and 9.13% for the Company, while the Common Equity Tier 1 Ratio was 10.60% for the Bank and 10.38% for the Company. Where applicable, such ratios remain well above regulatory well capitalized standards. Investor Conference Call Peapack-Gladstone Financial Corporation's CEO Douglas Kennedy will host a conference call with investors and the financial community on July 28, 2026 at 11:00 a.m. (ET) to review second quarter 2026 financial results. The live audio webcast and presentation slides will be available using the following link: https://events.q4inc.com/attendee/134224446. Investor presentation materials will be made available prior to the conference call by going to the Investor Relations page on our Company website at www.peapackprivate.com. A replay will be available under the Events & Presentation section on our Investor Relations website. ABOUT THE COMPANY Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $8.0 billion and assets under management and/or administration of $13.9 billion as of June 30, 2026. Founded in 1921, Peapack Private Bank & Trust, a subsidiary of Peapack-Gladstone Financial Corporation, is a commercial bank that offers a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial and retail solutions. The Bank's wealth management division offers comprehensive financial, tax, fiduciary and investment advice and solutions to individuals, families, privately held businesses, family offices and not-for-profit organizations, which help them to establish, maintain and expand their legacy. Peapack Private Bank & Trust offers an unparalleled commitment to client service. Visit www.peapackprivate.com for more information. FORWARD-LOOKING STATEMENTS The foregoing may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s confidence and strategies and management’s expectations about new and existing programs and products, investments, relationships, opportunities and market conditions. These statements may be identified by such forward-looking terminology as “expect,” “look,” “believe,” “anticipate,” “may” or similar statements or variations of such terms. Actual results may differ materially from such forward-looking statements. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to: our ability to successfully grow our business and implement our strategic plan, including our ability to generate revenues to offset the increased personnel and other costs related to the strategic plan; the impact of anticipated higher operating expenses in 2026 and beyond; our ability to successfully integrate wealth management firm and team acquisitions; our ability to successfully integrate our expanded employee base; an unexpected decline in the economy, in particular in our New Jersey and New York market areas, including potential recessionary conditions; declines in our net interest margin caused by the interest rate environment and/or our highly competitive market; declines in the value of our investment portfolio; impact from a pandemic event on our business, operations, customers, allowance for credit losses and capital levels; higher than expected increases in our allowance for credit losses; changes in the methodology and assumptions used to calculate the allowance for credit losses; higher than expected increases in credit losses or in the level of delinquent, nonperforming, classified and criticized loans or charge-offs; inflation and changes in interest rates, which may adversely impact our margins and yields, reduce the fair value of our financial instruments, reduce our loan originations and lead to higher operating costs; decline in real estate values within our market areas; legislative and regulatory actions (including the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Basel III and related regulations) that may result in increased compliance costs; the imposition of tariffs or other domestic or international governmental policies, trade restrictions and retaliatory measures impacting our borrowers and the broader economy; the impact of any federal government shutdown, debt ceiling impasses or fiscal uncertainty; the failure to maintain current technologies and/or to successfully implement future information technology enhancements and the operational risks associated with the adoption of artificial intelligence and other emerging technologies; risks associated with cybersecurity threats, data breaches, ransomware attacks, or other failures in our operational or security systems and infrastructure, including the risks arising from our dependence on third-party service providers and vendors; higher than expected FDIC insurance premiums; adverse weather conditions; the current or anticipated impact of military conflict, terrorism or other geopolitical events; our inability to successfully generate new business in new geographic markets, including our expansion into New York City and Long Island; a reduction in our lower-cost funding sources; changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio; our inability to adapt to technological changes; claims and litigation pertaining to fiduciary responsibility, environmental laws and other matters; our inability to attract and retain key employees; demand for loans and deposits in our market areas; adverse changes in securities markets; changes in New York City rent regulation law; changes in governmental regulation, including, but not limited to, any increase in FDIC insurance premiums and changes in the monetary and fiscal policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System; changes in accounting policies and practices; and/or other unexpected material adverse changes in our financial condition, operations or earnings. A discussion of these and other factors that could affect our results is included in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2025. Except as may be required by the applicable law or regulation, we undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. (Tables to follow) (A) Return on average tangible common equity is calculated by dividing tangible common equity by annualized net income available to common shareholders. See non-GAAP financial measures reconciliation included in these tables.(B) Calculated as total operating expenses as a percentage of total revenue. For non-GAAP efficiency ratio, see the non-GAAP financial measures reconciliation included in these tables. (A) Return on average tangible common equity is calculated by dividing tangible common equity by annualized net income available to common shareholders. See non-GAAP financial measures reconciliation included in these tables.(B) Calculated as total operating expenses as a percentage of total revenue. For non-GAAP efficiency ratio, see the non-GAAP financial measures reconciliation included in these tables. (A) FHLB means "Federal Home Loan Bank" and FRB means "Federal Reserve Bank." (A) Related to one matured, well secured multifamily loan. Closing is pending resolution of certain legal matters.(B) Amounts reflect modifications that are paying according to modified terms.(C) Excludes modifications included in nonaccrual loans of $21.6 million at June 30, 2026, $19.6 million at March 31, 2026, $36.0 million at December 31, 2025, $37.6 million at September 30, 2025, and $38.1 million at June 30, 2025.(D) Includes one equipment financing relationship of $10.3 million that was in the process of restructuring at June 30, 2026.(E) Excludes provision of $76,000 at June 30, 2026, provision of $5,000 at March 31, 2026, provision of $12,000 at December 31, 2025, a credit of $81,000 at September 30, 2025, and provision of $9,000 at June 30, 2025.(F) Includes charge-offs of $4.8 million related to one multifamily loan and $995,000 related to one commercial mortgage for the quarter ended June 30, 2026. Includes charge-offs of $7.8 million related to two commercial and industrial loans and $3.5 million to one multifamily loan for the quarter ended March 31, 2026. Includes charge-offs of $6.3 million related to two multifamily loans for the quarter ended December 31, 2025. Includes charge-offs of $6.7 million related to three multifamily loans and $11.3 million related to one equipment financing relationship for the quarter ended September 30, 2025.(G) Total ACL less reserves to loans individually evaluated equals collectively evaluated ACL. (A) Common equity to total assets is calculated as total shareholders’ equity, less preferred stock, as a percentage of total assets at quarter end.(B) Tangible common equity is calculated by subtracting goodwill, other intangible assets and preferred stock from shareholders' equity. Tangible assets is calculated by subtracting the balance of goodwill and other intangible assets from total assets. Tangible common equity as a percentage of tangible assets at quarter end is calculated by dividing tangible common equity by tangible assets at quarter end. See Non-GAAP financial measures reconciliation included in these tables.(C) Book value per common share is calculated by dividing shareholders’ equity, less preferred stock, by quarter end common shares outstanding.(D) Tangible book value per share excludes goodwill and other intangible assets. Tangible book value per share is calculated by dividing tangible common equity by quarter end common shares outstanding. See Non-GAAP financial measures reconciliation tables. (E) Regulatory well capitalized standard (including capital conservation buffer) = 4.00% ($315 million)(F) Regulatory well capitalized standard (including capital conservation buffer) = 8.50% ($566 million)(G) Regulatory well capitalized standard (including capital conservation buffer) = 7.00% ($466 million)(H) Regulatory well capitalized standard (including capital conservation buffer) = 10.50% ($699 million) (A) Includes loans and lines of credit that closed in the period but not necessarily funded.(B) Includes equipment finance. (A) Includes loans and lines of credit that closed in the period but not necessarily funded.(B) Includes equipment finance. (A) Average balances for available for sale securities are based on amortized cost.(B) Interest income is presented on a tax-equivalent basis using a 21% federal tax rate. (C) Loans are stated net of unearned income and include nonaccrual loans.(D) Net interest income on a tax-equivalent basis as a percentage of total average interest-earning assets. (A) Average balances for available for sale securities are based on amortized cost.(B) Interest income is presented on a tax-equivalent basis using a 21% federal tax rate. (C) Loans are stated net of unearned income and include nonaccrual loans.(D) Net interest income on a tax-equivalent basis as a percentage of total average interest-earning assets. (A) Average balances for available for sale securities are based on amortized cost.(B) Interest income is presented on a tax-equivalent basis using a 21% federal tax rate. (C) Loans are stated net of unearned income and include nonaccrual loans.(D) Net interest income on a tax-equivalent basis as a percentage of total average interest-earning assets. PEAPACK-GLADSTONE FINANCIAL CORPORATIONNON-GAAP FINANCIAL MEASURES RECONCILIATION Tangible book value per share and tangible common equity as a percentage of tangible assets at period end are non-GAAP financial measures derived from GAAP-based amounts.  We calculate tangible common equity by subtracting goodwill, other intangible assets and preferred stock from total shareholders’ equity.  Tangible assets are calculated by subtracting goodwill, and other intangible assets from total assets.  We calculate tangible book value per share by dividing tangible common equity by common shares outstanding, as compared to book value per common share, which we calculate by dividing total common equity by common shares outstanding at period end.  We calculate tangible common equity as a percentage of tangible assets at period end by dividing tangible common equity by tangible assets at period end.  Management believes these non-GAAP measures are useful to investors in assessing the amount of capital attributable to common shareholders and facilitate comparisons with other banking organizations that use similar measures. The efficiency ratio is a non-GAAP measure of expense control relative to recurring revenue. We calculate the efficiency ratio by dividing total noninterest expenses, excluding other real estate owned provision, as determined under GAAP, by net interest income and total noninterest income as determined under GAAP, but excluding net gains/(losses) on loans held for sale at lower of cost or fair value and excluding net gains on securities from this calculation, which we refer to below as recurring revenue. We believe that this provides a reasonable measure of core expenses relative to core revenue. We believe these non-GAAP financial measures provide information that is important to investors and useful in understanding our financial position, results and ratios because our management internally assesses our performance based, in part, on these measures. However, these non-GAAP financial measures are supplemental and are not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-GAAP measures of tangible common equity, tangible book value per share and efficiency ratio to the underlying GAAP numbers is set forth below. (Dollars in thousands, except per share data) (Dollars in thousands) Contact:Frank A. Cavallaro, SEVP and CFOPeapack-Gladstone Financial CorporationT: 908-306-8933

Eastern Bankshares, Inc. (EBC) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.41 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +6.52%. A quarter ago, it was expected that this company would post earnings of $0.44 per share when it actually produced earnings of $0.4, delivering a surprise of -9.09%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Eastern Bankshares, which belongs to the Zacks Banks - Northeast industry, posted revenues of $309.5 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.70%. This compares to year-ago revenues of $244.9 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Eastern Bankshares shares have added about 22.5% since the beginning of the year versus the S&P 500's gain of 9.6%. While Eastern Bankshares has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Eastern Bankshares was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.49 on $311.85 million in revenues for the coming quarter and $1.87 on $1.22 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Northeast is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Peapack-Gladstone (PGC), has yet to report results for the quarter ended June 2026. The results are expected to be released on July 27. This bank holding company is expected to post quarterly earnings of $0.87 per share in its upcoming report, which represents a year-over-year change of +93.3%. The consensus EPS estimate for the quarter has been revised 2.7% higher over the last 30 days to the current level. Peapack-Gladstone's revenues are expected to be $85.84 million, up 23.1% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eastern Bankshares, Inc. (EBC) : Free Stock Analysis Report Peapack-Gladstone Financial Corporation (PGC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Camden National (CAC) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 28. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This bank is expected to post quarterly earnings of $1.30 per share in its upcoming report, which represents a year-over-year change of +46.1%. Revenues are expected to be $66.4 million, up 6.6% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 0.37% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Camden National, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.39%. On the other hand, the stock currently carries a Zacks Rank of #4. So, this combination makes it difficult to conclusively predict that Camden National will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Camden National would post earnings of $1.26 per share when it actually produced earnings of $1.29, delivering a surprise of +2.38%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Camden National doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Another stock from the Zacks Banks - Northeast industry, Peapack-Gladstone (PGC), is soon expected to post earnings of $0.87 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +93.3%. Revenues for the quarter are expected to be $85.84 million, up 23.1% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Peapack-Gladstone has been revised 2.7% up to the current level. Nevertheless, the company now has an Earnings ESP of -1.92%, reflecting a lower Most Accurate Estimate. This Earnings ESP, combined with its Zacks Rank #2 (Buy), makes it difficult to conclusively predict that Peapack-Gladstone will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates two times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Camden National Corporation (CAC) : Free Stock Analysis Report Peapack-Gladstone Financial Corporation (PGC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Peapack-Gladstone (PGC) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on July 27, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This bank holding company is expected to post quarterly earnings of $0.87 per share in its upcoming report, which represents a year-over-year change of +93.3%. Revenues are expected to be $85.84 million, up 23.1% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 2.72% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Peapack-Gladstone, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -1.92%. On the other hand, the stock currently carries a Zacks Rank of #2. So, this combination makes it difficult to conclusively predict that Peapack-Gladstone will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Peapack-Gladstone would post earnings of $0.66 per share when it actually produced earnings of $0.80, delivering a surprise of +21.21%. Over the last four quarters, the company has beaten consensus EPS estimates two times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Peapack-Gladstone doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Meridian Bank (MRBK), another stock in the Zacks Banks - Northeast industry, is expected to report earnings per share of $0.51 for the quarter ended June 2026. This estimate points to a year-over-year change of +4.1%. Revenues for the quarter are expected to be $34.71 million, up 7% from the year-ago quarter. The consensus EPS estimate for Meridian Bank has remained unchanged over the last 30 days. However, a higher Most Accurate Estimate has resulted in an Earnings ESP of +5.88%. This Earnings ESP, combined with its Zacks Rank #4 (Sell), makes it difficult to conclusively predict that Meridian Bank will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Peapack-Gladstone Financial Corporation (PGC) : Free Stock Analysis Report Meridian Bank (MRBK) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research