Q2 2026 Peapack-Gladstone Financial Corp Earnings Call Transcript

Jul 28, 2026 / 03:00 PM GMT

Release Date Price: $47.72 (+1.45%)

Transcript 8-K

Key Points

Positve

Peapack Gladstone Financial Corp (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.

Negative

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.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PGC.OQ - Peapack-Gladstone Financial Corp
Q2 2026 Peapack-Gladstone Financial Corp Earnings Call
Jul 28, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to the PPAC Gladstone Financial Corporation Second Quarter 2026 Earnings Call. Please be advised that today's conference is being recorded.

I will now hand the conference over to Matthew Remo, Treasurer and Head of Corporate Finance. Please go ahead.

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Unidentified_2 [2]
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Thank you, and good morning, everyone. I'm joined today by our President and CEO, Doug Kennedy and our CFO, Frank Cavallero, who will be providing an overview of our second quarter results. John Babcock, our President of Wealth Management and Lisa

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