Bedminster, NJ, April 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire --Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) proudly celebrates the 5th anniversary of the launch of its equipment leasing and financing arm, Peapack Capital.
Over the past five years, Peapack Capital, a Peapack-Gladstone Bank subsidiary founded in April of 2017, has originated over $1.3 billion in new business and has grown its team from six to sixteen. 2021 was a record year for new business originations and the leasing portfolio totaled more than $775 million at year-end.
“Peapack Capital has consistently achieved its new business goals and has created a strong and diversified portfolio that has performed very well despite a challenging environment,” said Greg Smith, Senior Executive Vice President and Head of Commercial Banking at Peapack-Gladstone Bank. “The equipment financing business is an important part of our commercial banking strategy. Our full suite of leasing solutions is a significant contributor to the bank’s overall results.”
Peapack Capital has been named a Monitor ‘Top 50 Bank’ and ‘Top 100 Company’ for the last several years, solidifying its place in this competitive space.
“We are proud to reach this early milestone and to have built a cohesive team of talented professionals, who excel at providing best-in-class service,” said Smith. “And we are thankful to our partners and clients who have trusted us to help them achieve their goals.”
Peapack Capital is headquartered in Bedminster, NJ and provides equipment and asset financing from $5 million to $30 million to middle market and large corporate customers across the United States.
About the Company
Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $6.1 billion and assets under management and/or administration of $11.1 billion as of December 31, 2021. Founded in 1921, Peapack-Gladstone Bank is a commercial bank that provides innovative wealth management, investment banking, commercial and retail solutions, to businesses and consumers. Peapack Private, 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. Together, Peapack-Gladstone Bank and Peapack Private offer an unparalleled commitment to client service. Visit www.pgbank.com and www.peapackprivate.com for more information.
Contact: Denise M. Pace-Sanders, SVP Managing Principal, Brand and Marketing Director, dpace@pgbank.com, 908.470.3322, Peapack-Gladstone Bank, 500 Hills Drive, Suite 300, Bedminster, NJ 07921.
