Peapack-Gladstone Financial Corporation reported second quarter 2026 net income available to common shareholders of $15.8 million, or $0.85 per diluted share, up from $7.9 million, or $0.45 per diluted share, a year earlier. Total revenue rose 23% year-over-year to $86.1 million, marking the ninth consecutive quarter of revenue growth, while operating expenses increased only 7% to $55.7 million, producing approximately 70% growth in pre-provision net revenue. Net interest income climbed 32% to $63.9 million and the net interest margin expanded to 3.32%, supported by balance sheet repositioning and disciplined pricing. Total loans reached $6.7 billion, up $854 million year-over-year, and deposits grew to $7.1 billion. The company also issued the remaining $20 million of its 6% non-cumulative perpetual convertible preferred stock under a $50 million commitment from Strategic Value Bank Partners, enhancing financial flexibility as earnings strengthen.
Peapack-Gladstone FinancialReported strong Q2 earnings with net income up 100% YoY, revenue growth, margin expansion, and loan/deposit growth.
Strategic Value Bank Partners committed $50M for preferred stock, with $20M issued, enhancing its investment.