Quarterly ResultJul 27, 2026, 04:57 PM
Peapack-Gladstone Q2 EPS $0.85, Net Income $15.8M, Revenue $86.1M
AI Summary
Peapack-Gladstone Financial Corporation reported strong second quarter 2026 financial results, with diluted EPS increasing 89% year-over-year to $0.85 and net income available to common shareholders rising 100% to $15.8 million. Total revenue grew 23% year-over-year to $86.1 million, marking the ninth consecutive quarter of revenue growth. The company also issued the remaining $20 million of its 6% convertible preferred stock to support continued growth and maintain prudent capital levels, reflecting confidence in its strategic investments and earnings momentum.
Key Highlights
- Net income available to common shareholders was $15.8 million, up 100% YoY.
- Diluted EPS was $0.85, an increase of 89% year-over-year.
- Total revenue grew 23% YoY to $86.1 million, marking the ninth consecutive quarter of growth.
- Net interest income increased 32% YoY to $63.9 million.
- Net interest margin expanded to 3.32%, up 55 basis points YoY.
- Total loans reached $6.7 billion, an increase of 15% year-over-year.
- Deposits grew 11% YoY to $7.1 billion.
- Wealth management assets under management and administration were $13.9 billion, up 13% YoY.
- Issued remaining $20 million of 6% non-cumulative perpetual convertible preferred stock.
Price Impact
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