Peapack-Gladstone Financial 盘后发布强劲三季报，但该业绩催化已在6分钟前被处理

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
____________
FORM
8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported)
October 27, 2026
PEAPACK-GLADSTONE FINANCIAL CORP
ORATION
(Exact Name of Registrant as Specified in Charter)
New Jersey
001-16197
22-3537895
(State or Other Jurisdiction
(Commission
(I.R.S. Employer
of Incorporation)
File Number)
Identification No.)
500 Hills Drive
,
Suite 300
,
Bedminster
,
New Jersey
07921
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including area code
(908)
234-0700
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on which registered
Common Stock, no par value
PGC
The NASDAQ Stock Market, LLC
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (
see
General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act.
☐
INFORMATION TO BE INCLUDED IN THE REPORT
Item 2.02 Results of Operations and Financial Condition.
On October 27, 2026, Peapack-Gladstone Financial Corporation (the "Company") issued a press release reporting earnings and other financial results for the three and nine months ended September 30, 2026. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated by reference in its entirety.
The information disclosed under this Item 2.02, including Exhibit 99.1, shall be considered “furnished” but not “filed” for purposes of the Securities Exchange Act of 1934, as amended.
Item 7.01 Regulation FD Disclosure.
The Company is furnishing presentation materials included as Exhibit 99.2 to this report. The Company is not undertaking to update this presentation. The information in this report (including Exhibit 99.1) is being furnished pursuant to Item 7.01 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This report will not be deemed an admission as to the materiality of any information herein (including Exhibit 99.2).
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Title
99.1
Press Release dated October 27, 2026.
99.2
Investor Presentation used by the Company for the third quarter of 2026.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PEAPACK-GLADSTONE FINANCIAL CORPORATION
Dated: October 27, 2026
By:
/s/ Frank A. Cavallaro
Frank A. Cavallaro
Senior Executive Vice President and Chief Financial Officer

----- pgc-ex99_1.htm -----
EX-99.1
2
pgc-ex99_1.htm
EX-99.1
EX-99.1
Exhibit 99.1
Contact:
Frank A. Cavallaro, SEVP and CFO
Peapack-Gladstone Financial Corporation
T: 908-306-8933
PEAPACK-GLADSTONE FINANCIAL CORPORATION
REPORTS THIRD QUARTER FINANCIAL RESULTS
Bedminster, N.J.
– October 27, 2026 –
Peapack-Gladstone Financial Corporation (
NASDAQ Global Select Market: PGC
) (the "Company") announced its third quarter 2026 financial results.
This earnings release should be read in conjunction with the Company’s Q3 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 third quarter 2026 financial results that reflect continued execution of its private banking strategy and earnings momentum. Total revenue increased 24% year-over-year to $87.5 million, representing the Company's tenth consecutive quarter of revenue growth, as net interest income increased 33% to $67.5 million and net interest margin expanded to 3.34%. Wealth management fee income of $17.3 million represented 20% of total revenue. At the same time, operating expenses increased only 5% year-over-year and declined on a linked-quarter basis, 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. The Company continued to generate relationship-based balance sheet growth, with total loans reaching $7.1 billion and deposits reaching $7.4 billion at September 30, 2026.
Douglas L. Kennedy, President and CEO stated, “Our investments in experienced teams across New York City, Westchester and Long Island are translating into deeper client relationships and strong loan and deposit growth. We have built the capabilities and geographic presence to serve more of our clients’ financial needs, and the earnings contribution from that platform continues to grow."
Mr. Kennedy added, "We enter the fourth quarter with strong pipelines and confidence in our teams. Our focus is on increasing productivity across the platform we have built, maintaining pricing and expense discipline, and translating continued relationship growth into higher returns. Credit and capital discipline remain central to that execution.”
Our third quarter results reflect continued momentum and sustainability in delivering enhanced shareholder value. The continued growth in net interest income and expansion in net interest margin, together with disciplined expense management, led to net income available to common shareholders of $18.5 million, or $0.99 per diluted share for the third quarter, compared to $15.8 million, or $0.86 per diluted share, for the linked quarter and $9.6 million, or $0.54 per diluted share for the quarter ended September 30, 2025. Net income available to common shareholders increased 17% on a linked-quarter basis, and diluted earnings per share increased 83% year-over-year. Operating expenses declined 1% sequentially to $55.1 million; the GAAP efficiency ratio improved 166 basis points to 63.03%. Asset quality also improved, with nonperforming assets declining 20% sequentially to $55.8 million, or 0.68% of total assets. Tangible book value per share increased 6% year-over-year to $36.24 at September 30, 2026.
During the first quarter the Company 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 projected growth rates, we elected to issue the remaining $20 million of our 6% non-cumulative perpetual convertible preferred stock on July 24, 2026.
1
Third Quarter Highlights:
•
Net income available to common shareholders of $18.5 million, or $0.99 per diluted share
•
Total revenue of $87.5 million, representing the tenth consecutive quarter of revenue growth
•
Net interest income: $67.5 million, up 6% compared to the linked quarter and 33% year-over-year
•
Net interest margin: 3.34%, an increase of two basis points compared to the linked quarter and 53 basis points year-over-year
•
Loan growth: $7.1 billion in total loans, an increase of $1.1 billion year-over-year
•
Deposits: $7.4 billion at September 30, 2026, an increase of $796 million year-over-year
•
Wealth management: $13.6 billion in assets under management and administration, up 6% year-over-year
•
Wealth management fee income: $17.3 million or 20% of total revenue
•
Shareholders' equity: $735.6 million at September 30, 2026, an increase of $93 million year-over-year
•
Tangible book value per share increased 6% year-over-year to $36.24. Book value per share increased 6% year-over-year to $38.67
Key Financial Metrics
Q3 2026
Q2 2026
Q3 2025
Net income available to common shareholders ($ millions)
$
18.5
$
15.8
$
9.6
Diluted EPS
$
0.99
$
0.86
$
0.54
Net interest income ($ millions)
$
67.5
$
63.9
$
50.6
Net interest margin
3.34
%
3.32
%
2.81
%
Total revenue ($ millions)
$
87.5
$
86.1
$
70.7
Operating expenses ($ millions)
$
55.1
$
55.7
$
52.3
Pre-provision net revenue ($ millions)
$
32.3
$
30.4
$
18.4
Return on average assets (annualized)
0.93
%
0.81
%
0.53
%
Return on average common equity (annualized)
10.70
%
9.34
%
6.12
%
Earnings and Operating Leverage
The Company generated strong revenue growth of 24% year-over-year, with total revenue of $87.5 million for the third quarter of 2026, compared to $86.1 million for the second quarter of 2026 and $70.7 million for the third quarter of 2025. Revenue growth was primarily attributable to the consistent improvement in net interest income over the last twelve months. The increase in revenue and continued expense discipline translated into higher earnings driving positive operating leverage and improved profitability.
Operating expenses decreased to $55.1 million for the third quarter of 2026, compared to $55.7 million for the second quarter of 2026. Operating expenses were $52.3 million for the third quarter of 2025. The GAAP efficiency ratio improved for an eighth consecutive quarter to approximately 63%.
Net Interest Income and Margin
Net interest income totaled $67.5 million for the third quarter of 2026, an increase of $3.6 million, or 6%, from the second quarter of 2026 and an increase of $16.9 million, or 33%, from the third quarter of 2025. Net interest margin expanded to 3.34% compared to 3.32% in the prior quarter and 2.81% in the third quarter of 2025, continuing the upward trend over the past several quarters. This improvement in net interest income and net interest margin was primarily driven by balance sheet repositioning, disciplined pricing and improved earning-asset yields.
Loans / Commercial Banking
Total loans increased $403 million, or 24% on an annualized basis, to $7.1 billion at September 30, 2026, compared to $6.7 billion at June 30, 2026. Loans have grown $1.1 billion year-over-year. 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
2
expansion and capital investment. Total C&I loans and leases at September 30, 2026 were $3.1 billion, or 43% of the total loan portfolio.
Mr. Kennedy noted, “The strength of our loan growth is measured not only by its pace, but also by its quality. Our bankers continue to onboard core relationships, delivering a coordinated approach that integrates commercial banking, personal banking, treasury management and wealth management through a single point of contact. This relationship model deepens client engagement and enables us to compete effectively with much larger institutions."
Wealth Management
John Babcock, President of the Bank’s Wealth Management Division, stated, “Wealth Management generated $346 million of gross client inflows during the quarter, reflecting the strength of our client relationships and the breadth of our advisory platform. We continue to deepen those relationships by bringing investment management, trust, tax, financial planning and other specialized services together with the Bank’s lending and liquidity capabilities to serve clients and their families over time.”
Funding / Liquidity / Interest Rate Risk Management
Total deposits increased $301 million, or 17% annualized, to $7.4 billion at September 30, 2026, from $7.1 billion at June 30, 2026. Relationship-based deposits have created solid franchise value for our Company.
Noninterest-bearing deposits increased $232 million year-over-year, representing 29% of total deposit growth over the last twelve months and a meaningful component of total funding, supporting both margin expansion and balance sheet stability. In addition, short-term borrowings increased $206 million during the third quarter of 2026 to supplement deposit funding and support continued loan growth, while maintaining appropriate liquidity levels.
The Company’s liquidity profile remains strong with a loan-to-deposit ratio of 96%. At September 30, 2026, the Company’s balance sheet liquidity totaled $1.1 billion, or 13% of total assets. The Company maintains additional liquidity resources of approximately $4.2 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 $5.3 billion at September 30, 2026, which amounted to 214% 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.
Income Taxes
The effective tax rate was 20.5% for the September 2026 quarter, compared to 28.4% for the June 2026 quarter and 29.2% for the quarter ended September 30, 2025. The effective tax rate for the third quarter of 2026 included a discrete income tax benefit of approximately $1.8 million related to the purchase of transferable production tax credits.
Asset Quality / Provision for Credit Losses
Nonperforming assets decreased to $57.8 million, or 0.68% of total assets compared to $72.2 million, or 0.91% of total assets, at June 30, 2026. The decrease in nonperforming assets during the third quarter of 2026 reflects the Company's concentrated effort to resolve problem loans. Loans past due 30 through 89 days and still accruing decreased to $39.4 million, or 0.56% of total loans at September 30, 2026, compared to $48.1 million, or 0.72% of total loans, at June 30, 2026.
Mr. Kennedy noted, “During the quarter, we made progress in reducing nonperforming assets and delinquent loan balances, while loans subject to special mention and classified also declined. These trends reflect our active management of individual credit situations and the progress we are making in resolving them. We remain focused on disciplined underwriting, proactive portfolio oversight and maintaining reserve coverage that is appropriate for the risk profile of the portfolio."
The provision for credit losses totaled $8.5 million for the third quarter of 2026, compared to $8.1 million for the second quarter of 2026 and $4.8 million for the September 30, 2025 quarter. During the third quarter of 2026, approximately $5.0 million of the provision was attributable to loan growth of $403 million while $4.6 million related to increases in specific reserves, partially offset by improved economic factors.
3
At September 30, 2026, the allowance for credit losses ("ACL") was $73.0 million (1.03% of total loans), compared to $69.2 million (1.04% of total loans) at June 30, 2026. The increase in the ACL was due to the provision for credit losses of $8.5 million,
partially offset by net charge-offs of $4.7 million. Charge-offs consisted of $1.7 million during the period related to two multifamily properties and $2.8 million related to seven commercial and industrial loans. These charge-offs were partially offset by recoveries of $25,000 during the third quarter of 2026.
Capital
The Company’s capital position remained solid during the third quarter of 2026 and continued to benefit from earnings generation. Based on our continued growth, 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.
To further support capital, the Company has reinstated the feature in our Dividend Reinvestment Plan which will allow participants to purchase shares of our common stock through the Plan at a 3% discount to the current market price. This enhancement will become effective beginning with the Company's next dividend payment in November 2026.
Tangible book value per share increased 6% to $36.24 per share at September 30, 2026 from $34.10 at September 30, 2025. Book value per share increased 6% to $38.67 per share at September 30, 2026 compared to $36.62 at September 30, 2025.
As of September 30, 2026, the Company and the Bank maintained strong regulatory capital ratios. The Tier 1 Leverage Ratio at September 30, 2026 was 9.13% for the Bank and 9.29% for the Company, while the Common Equity Tier 1 Ratio was 10.59% for the Bank and 10.06% 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 October 28, 2026 at 11:00 a.m. (ET) to review third quarter 2026 financial results. The live audio webcast and presentation slides will be available using the following link:
https://events.q4inc.com/attendee/855592172
or join the toll-free teleconference by dialing 1-833-461-5787 and entering access code 855 592 172. 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 $8.5 billion and assets under management and/or administration of $13.6 billion as of September 30, 2026. Founded in 1921, Peapack Private Bank & Trust is a boutique private bank serving successful individuals, families, business owners, family offices, and their trusted advisors through personalized relationships and bespoke banking, lending, wealth management, investment banking, and trust solutions. Distinguished by a relationship-first approach, every client is supported by a dedicated relationship manager who provides thoughtful guidance, seamless coordination, and access to the Bank's full breadth of expertise. The Bank's Wealth Management division delivers sophisticated investment management, fiduciary, tax, estate, and financial planning strategies designed to help clients preserve, grow, and transfer wealth across generations. Defined by discretion, exceptional service, and enduring relationships, Peapack Private is committed to helping clients achieve their financial goals while protecting the legacy they have built. For more information, visit
www.peapackprivate.com
.
4
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, the shape of the yield curve 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;
•
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
5
•
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)
6
PEAPACK-GLADSTONE FINANCIAL CORPORATION
SELECTED CONSOLIDATED FINANCIAL DATA
(Dollars in Thousands, except per share data)
(Unaudited)
For the Three Months Ended
Sept 30,
June 30,
March 31,
Dec 31,
Sept 30,
2026
2026
2026
2025
2025
Income Statement Data:
Interest income
$
106,871
$
100,210
$
95,049
$
93,984
$
92,545
Interest expense
39,379
36,289
35,153
37,442
41,972
Net interest income
67,492
63,921
59,896
56,542
50,573
Wealth management fee income
17,279
17,220
16,503
16,064
15,798
Service charges and fees
1,443
1,390
1,359
1,317
1,184
Capital markets revenue
131
925
544
873
901
Other income
1,143
2,596
4,191
3,405
2,238
Total other income
19,996
22,131
22,597
21,659
20,121
Total revenue
87,488
86,052
82,493
78,201
70,694
Compensation expense
29,879
29,352
29,782
28,399
28,613
Benefits expense
9,427
10,250
9,583
8,397
8,143
Premises and equipment
7,190
7,009
6,858
7,142
6,676
FDIC insurance expense
1,557
1,495
1,388
1,565
1,345
Professional and legal fees
1,509
1,532
1,554
1,868
1,972
Trust department expense
1,186
1,189
1,180
1,139
1,111
Loan expense
430
687
556
905
475
Advertising
377
468
267
329
651
Other expenses
3,593
3,685
4,272
3,794
3,311
Total operating expenses
55,148
55,667
55,440
53,538
52,297
Pretax income before provision for credit losses
32,340
30,385
27,053
24,663
18,397
Provision for credit losses
8,499
8,088
7,327
7,671
4,790
Income before income taxes
23,841
22,297
19,726
16,992
13,607
Income tax expense
4,895
6,325
5,573
4,833
3,976
Net Income
18,946
15,972
14,153
12,159
9,631
Dividends on preferred stock
495
195
—
—
—
Net income available to common shareholders
$
18,451
$
15,777
$
14,153
$
12,159
$
9,631
Per Common Share Data:
Earnings per share (basic)
$
1.04
$
0.89
$
0.80
$
0.69
$
0.55
Earnings per share (diluted)
0.99
0.86
0.80
0.69
0.54
Weighted average number of common
shares outstanding:
Basic
17,727,852
17,717,883
17,585,846
17,558,019
17,576,899
Diluted
19,069,474
18,625,408
17,760,678
17,705,355
17,686,979
Performance Ratios:
Return on average assets annualized (ROAA)
0.93
%
0.81
%
0.74
%
0.65
%
0.53
%
Return on average common equity annualized (ROACE)
10.70
%
9.34
%
8.53
%
7.51
%
6.12
%
Return on average tangible common equity annualized (ROATCE) (A)
11.41
%
9.98
%
9.13
%
8.06
%
6.59
%
Net interest margin (tax-equivalent basis)
3.34
%
3.32
%
3.26
%
3.08
%
2.81
%
GAAP efficiency ratio (B)
63.03
%
64.69
%
67.21
%
68.46
%
73.98
%
Operating expenses / average assets annualized
2.70
%
2.83
%
2.92
%
2.88
%
2.87
%
(A) Return on average tangible common equity is calculated by dividing annualized net income available to common shareholders by average tangible common equity. 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.
7
PEAPACK-GLADSTONE FINANCIAL CORPORATION
SELECTED CONSOLIDATED FINANCIAL DATA
(Dollars in Thousands, except per share data)
(Unaudited)
For the Nine Months Ended
September 30,
Change
2026
2025
$
%
Income Statement Data:
Interest income
$
302,130
$
268,541
$
33,589
13
%
Interest expense
110,821
124,173
(13,352
)
-11
%
Net interest income
191,309
144,368
46,941
33
%
Wealth management fee income
51,002
47,176
3,826
8
%
Service charges and fees
4,192
3,490
702
20
%
Capital markets revenue
1,600
2,155
(555
)
-26
%
Other income
7,930
7,605
325
4
%
Total other income
64,724
60,426
4,298
7
%
Total revenue
256,033
204,794
51,239
25
%
Compensation expense
89,013
83,160
5,853
7
%
Benefits expense
29,260
25,536
3,724
15
%
Premises and equipment
21,057
19,471
1,586
8
%
FDIC insurance expense
4,440
3,245
1,195
37
%
Professional and legal fees
4,595
4,807
(212
)
-4
%
Trust department expense
3,555
3,246
309
10
%
Loan expense
1,673
1,847
(174
)
-9
%
Advertising
1,112
1,724
(612
)
-35
%
Other expenses
11,550
10,594
956
9
%
Total operating expenses
166,255
153,630
12,625
8
%
Pretax income before provision for credit losses
89,778
51,164
38,614
75
%
Provision for credit losses
23,914
15,847
8,067
51
%
Income before income taxes
65,864
35,317
30,547
86
%
Income tax expense
16,793
10,150
6,643
65
%
Net Income
49,071
25,167
23,904
95
%
Dividends on preferred stock
690
—
690
N/A
Net income available to common shareholders
$
48,381
$
25,167
$
23,214
92
%
Per Common Share Data:
Earnings per share (basic)
$
2.74
$
1.43
$
1.31
92
%
Earnings per share (diluted)
2.65
1.42
1.23
87
%
Weighted average number of common shares outstanding:
Basic
17,677,714
17,630,517
47,197
0
%
Diluted
18,500,371
17,763,871
736,500
4
%
Performance Ratios:
Return on average assets (ROAA)
0.83
%
0.47
%
0.36
%
77
%
Return on average common equity (ROAE)
9.54
%
5.41
%
4.13
%
76
%
Return on average tangible common equity (ROATCE) (A)
10.19
%
5.83
%
4.36
%
75
%
Net interest margin (tax-equivalent basis)
3.30
%
2.76
%
0.54
%
20
%
GAAP efficiency ratio (B)
64.93
%
75.02
%
(10.09
)%
-13
%
Operating expenses / average assets
2.81
%
2.87
%
(0.06
)%
-2
%
(A) Return on average tangible common equity is calculated by dividing annualized net income available to common shareholders by average tangible common equity. 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.
8
PEAPACK-GLADSTONE FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF CONDITION
(Dollars in Thousands)
(Unaudited)
As of
Sept 30,
June 30,
March 31,
Dec 31,
Sept 30,
2026
2026
2026
2025
2025
ASSETS
Cash and due from banks
$
9,039
$
8,388
$
9,220
$
8,712
$
8,514
Interest-earning deposits
259,843
245,506
244,194
179,108
338,672
Total cash and cash equivalents
268,882
253,894
253,414
187,820
347,186
Securities available for sale
811,994
752,440
710,046
774,203
756,578
Securities held to maturity
77,350
78,560
79,478
95,862
97,414
CRA equity security, at fair value
12,818
13,320
13,375
13,459
13,403
FHLB and FRB stock, at cost (A)
22,199
12,931
14,170
14,605
11,387
Residential mortgage
670,985
679,234
662,949
648,216
649,523
Multifamily mortgage
1,832,595
1,804,380
1,824,882
1,862,592
1,796,533
Commercial mortgage
1,137,877
981,896
887,712
774,428
689,166
Commercial and industrial loans
3,071,232
2,935,914
2,797,352
2,726,379
2,662,661
Consumer loans
311,167
220,961
210,731
187,360
171,811
Home equity lines of credit
56,702
55,136
58,194
59,306
57,166
Other loans
1,128
1,108
860
342
405
Total loans
7,081,686
6,678,629
6,442,680
6,258,623
6,027,265
Less: Allowance for credit losses
72,951
69,167
67,026
71,039
68,642
Net loans
7,008,735
6,609,462
6,375,654
6,187,584
5,958,623
Premises and equipment
41,983
40,830
39,322
39,164
37,756
Other real estate owned
96
908
—
—
—
Accrued interest receivable
35,297
34,060
33,115
31,971
34,120
Bank owned life insurance
48,266
48,071
47,896
47,761
48,381
Goodwill and other intangible assets
43,116
43,352
43,595
43,839
44,111
Finance lease right-of-use assets
739
774
809
844
879
Operating lease right-of-use assets
43,399
38,098
38,079
39,886
37,692
Other assets
82,672
43,593
50,012
49,411
52,112
TOTAL ASSETS
$
8,497,546
$
7,970,293
$
7,698,965
$
7,526,409
$
7,439,642
LIABILITIES
Deposits:
Noninterest-bearing demand deposits
$
1,555,544
$
1,624,244
$
1,544,515
$
1,428,745
$
1,323,492
Interest-bearing demand deposits
3,658,620
3,497,096
3,533,203
3,448,497
3,509,403
Savings
103,933
111,710
114,955
105,123
104,524
Money market accounts
1,670,251
1,448,916
1,222,405
1,197,995
1,226,506
Certificates of deposit – Retail
370,034
375,633
411,688
408,219
397,338
Certificates of deposit – Listing Service
—
—
—
400
899
Total deposits
7,358,382
7,057,599
6,826,766
6,588,979
6,562,162
Short-term borrowings
281,119
74,854
63,830
73,267
—
Finance lease liability
1,060
1,103
1,145
1,186
1,227
Operating lease liability
46,804
41,493
41,458
43,294
41,139
Subordinated debt, net
—
—
—
99,030
98,981
Due to brokers
—
9,642
—
—
25,125
Other liabilities
74,555
69,817
66,562
62,447
68,458
TOTAL LIABILITIES
7,761,920
7,254,508
6,999,761
6,868,203
6,797,092
Shareholders’ equity
735,626
715,785
699,204
658,206
642,550
TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY
$
8,497,546
$
7,970,293
$
7,698,965
$
7,526,409
$
7,439,642
Assets under management and / or administration at
Peapack Private Bank & Trust's Wealth Management
Division (market value, not included above-dollars in billions)
$
13.6
$
13.9
$
13.1
$
13.1
$
12.9
(A) FHLB means "Federal Home Loan Bank" and FRB means "Federal Reserve Bank."
9
PEAPACK-GLADSTONE FINANCIAL CORPORATION
SELECTED BALANCE SHEET DATA
(Dollars in Thousands)
(Unaudited)
As of
Sept 30,
June 30,
March 31,
Dec 31,
Sept 30,
2026
2026
2026
2025
2025
Asset Quality:
Loans past due over 90 days and still accruing (A)
$
200
$
3,300
$
—
$
—
$
—
Nonaccrual loans
57,535
68,034
59,321
68,243
84,142
Other real estate owned
96
908
—
—
—
Total nonperforming assets
$
57,831
$
72,242
$
59,321
$
68,243
$
84,142
Nonperforming loans to total loans
0.82
%
1.07
%
0.92
%
1.09
%
1.40
%
Nonperforming assets to total assets
0.68
%
0.91
%
0.77
%
0.91
%
1.13
%
Performing modifications (B)(C)
$
38,388
$
27,268
$
85,835
$
95,266
$
101,501
Loans past due 30 through 89 days and still accruing (D)
$
39,379
$
48,080
$
47,053
$
26,555
$
28,817
Loans subject to special mention
$
56,380
$
59,832
$
75,935
$
51,027
$
56,534
Classified loans
$
89,498
$
97,713
$
90,583
$
118,912
$
134,982
Individually evaluated loans
$
57,535
$
68,034
$
59,321
$
68,243
$
84,142
Allowance for credit losses ("ACL"):
Beginning of quarter
$
69,167
$
67,026
$
71,039
$
68,642
$
81,770
Provision for credit losses (E)
8,436
8,012
7,322
7,659
4,871
(Charge-offs)/recoveries, net (F)
(4,652
)
(5,871
)
(11,335
)
(5,262
)
(17,999
)
End of quarter
$
72,951
$
69,167
$
67,026
$
71,039
$
68,642
ACL to nonperforming loans
126.35
%
96.96
%
112.99
%
104.10
%
81.58
%
ACL to total loans
1.03
%
1.04
%
1.04
%
1.14
%
1.14
%
Collectively evaluated ACL to total loans (G)
0.97
%
0.97
%
0.94
%
0.94
%
0.95
%
(A) Related to one matured, well secured multifamily loan. Closing is pending resolution of certain legal matters at June 30, 2026.
(B) Amounts reflect modifications that are paying according to modified terms.
(C) Excludes modifications included in nonaccrual loans of $24.7 million at September 30, 2026, $21.6 million at June 30, 2026, $19.6 million at March 31, 2026, $36.0 million at December 31, 2025 and $37.6 million at September 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 $63,000 at September 30, 2026, provision of $76,000 at June 30, 2026, provision of $5,000 at March 31, 2026, provision of $12,000 at December 31, 2025 and a credit of $81,000 at September 30, 2025.
(F) Includes charge-offs of $1.7 million related to two multifamily loans and $2.8 million related to seven commercial and industrial loans for the quarter ended September 30, 2026. 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.
10
PEAPACK-GLADSTONE FINANCIAL CORPORATION
SELECTED BALANCE SHEET DATA
(Dollars in Thousands)
(Unaudited)
As of
September 30,
December 31,
September 30,
2026
2025
2025
Capital Adequacy
Common equity to total assets (A)
8.07
%
8.75
%
8.64
%
Tangible common equity to tangible assets (B)
7.60
%
8.21
%
8.09
%
Book value per share (C)
$
38.67
$
37.49
$
36.62
Tangible book value per share (D)
$
36.24
$
34.99
$
34.10
(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.
As of
September 30,
December 31,
September 30,
2026
2025
2025
Regulatory Capital – Holding Company
Tier I leverage
$
760,887
9.29%
$
660,696
8.87%
$
647,549
8.86%
Tier I capital to risk-weighted assets
760,887
10.77
660,696
10.33
647,549
10.47
Common equity tier I capital ratio
to risk-weighted assets
710,828
10.06
660,637
10.33
647,543
10.47
Tier I & II capital to risk-weighted assets
834,593
11.81
811,375
12.68
815,770
13.20
Regulatory Capital – Bank
Tier I leverage (E)
$
747,076
9.13%
$
735,931
9.89%
$
722,684
9.89%
Tier I capital to risk-weighted assets (F)
747,076
10.59
735,931
11.52
722,684
11.70
Common equity tier I capital ratio
to risk-weighted assets (G)
747,017
10.59
735,872
11.52
722,678
11.70
Tier I & II capital to risk-weighted assets (H)
820,782
11.63
807,580
12.64
791,924
12.82
(E) Regulatory well capitalized standard (including capital conservation buffer) = 4.00% ($327 million)
(F) Regulatory well capitalized standard (including capital conservation buffer) = 8.50% ($600 million)
(G) Regulatory well capitalized standard (including capital conservation buffer) = 7.00% ($494 million)
(H) Regulatory well capitalized standard (including capital conservation buffer) = 10.50% ($741 million)
11
PEAPACK-GLADSTONE FINANCIAL CORPORATION
LOANS CLOSED
(Dollars in Thousands)
(Unaudited)
For the Quarters Ended
Sept 30,
June 30,
March 31,
Dec 31,
Sept 30,
2026
2026
2026
2025
2025
Residential loans retained
$
25,698
$
52,253
$
29,376
$
18,993
$
18,323
Residential loans sold
2,077
4,792
4,680
2,544
445
Total residential loans
27,775
57,045
34,056
21,537
18,768
Commercial real estate
183,231
136,077
138,570
130,790
78,825
Multifamily
58,895
46,500
31,825
100,611
47,991
Commercial (C&I) loans (A) (B)
514,517
383,129
274,269
358,468
453,554
SBA
—
—
11,445
2,666
6,821
Wealth lines of credit (A)
12,450
23,255
5,225
3,925
2,700
Total commercial loans
769,093
588,961
461,334
596,460
589,891
Installment loans
123,422
26,844
30,171
40,428
47,115
Home equity lines of credit (A)
10,394
4,369
6,638
3,929
11,755
Total loans closed
$
930,684
$
677,219
$
532,199
$
662,354
$
667,529
(A) Includes loans and lines of credit that closed in the period but not necessarily funded.
(B) Includes equipment finance.
For the Nine Months Ended
Sept 30,
Sept 30,
2026
2025
Residential loans retained
$
107,327
$
78,470
Residential loans sold
11,549
6,231
Total residential loans
118,876
84,701
Commercial real estate
457,878
150,191
Multifamily
137,220
128,141
Commercial (C&I) loans (A) (B)
1,171,915
911,507
SBA
11,445
19,839
Wealth lines of credit (A)
40,930
15,000
Total commercial loans
1,819,388
1,224,678
Installment loans
180,437
132,220
Home equity lines of credit (A)
21,401
21,714
Total loans closed
$
2,140,102
$
1,463,313
(A) Includes loans and lines of credit that closed in the period but not necessarily funded.
(B) Includes equipment finance.
12
PEAPACK-GLADSTONE FINANCIAL CORPORATION
AVERAGE BALANCE SHEET
(Tax-Equivalent Basis, Dollars in Thousands)
(Unaudited)
For the Three Months Ended
September 30, 2026
September 30, 2025
Average
Income/
Annualized
Average
Income/
Annualized
Balance
Expense
Yield
Balance
Expense
Yield
ASSETS:
Interest-earning assets:
Investments:
Taxable (A)
$
939,090
$
7,430
3.16
%
$
963,706
$
7,504
3.11
%
Loans (B) (C):
Mortgages
668,213
7,909
4.73
650,299
7,337
4.51
Commercial mortgages
2,839,401
36,229
5.06
2,458,008
28,447
4.63
Commercial
3,008,999
48,106
6.39
2,586,780
42,790
6.62
Commercial construction
807
13
6.39
—
—
—
Installment
307,122
4,753
6.14
156,471
2,718
6.95
Home equity
55,640
962
6.86
53,781
1,020
7.59
Other
1,033
4
1.54
363
5
5.43
Total loans
6,881,215
97,976
5.65
5,905,702
82,317
5.58
Interest-earning deposits
226,092
1,679
2.95
304,681
2,960
3.89
Total interest-earning assets
8,046,397
107,085
5.28
%
7,174,089
92,781
5.17
%
Noninterest-earning assets:
Cash and due from banks
8,293
12,279
Allowance for credit losses
(71,902
)
(82,803
)
Premises and equipment
41,471
37,608
Other assets
132,562
136,238
Total noninterest-earning assets
110,424
103,322
Total assets
$
8,156,821
$
7,277,411
LIABILITIES:
Interest-bearing deposits:
Checking
$
3,811,998
$
26,454
2.75
%
$
3,640,088
$
29,975
3.29
%
Money markets
1,315,270
8,848
2.67
1,005,633
7,225
2.87
Savings
106,103
197
0.74
104,777
178
0.68
Certificates of deposit – retail
376,680
2,736
2.88
429,389
3,657
3.41
Subtotal interest-bearing deposits
5,610,051
38,235
2.70
5,179,887
41,035
3.17
Interest-bearing demand – brokered
—
—
—
—
—
—
Total interest-bearing deposits
5,610,051
38,235
2.70
5,179,887
41,035
3.17
Borrowings
111,630
1,133
4.03
—
—
—
Capital lease obligation
1,075
11
4.06
1,242
13
4.19
Subordinated debt
—
—
—
98,954
924
3.74
Total interest-bearing liabilities
5,722,756
39,379
2.73
%
5,280,083
41,972
3.18
%
Noninterest-bearing liabilities:
Demand deposits
1,583,319
1,261,607
Accrued expenses and other liabilities
115,929
106,630
Total noninterest-bearing liabilities
1,699,248
1,368,237
Shareholders’ equity
734,817
629,091
Total liabilities and shareholders’ equity
$
8,156,821
$
7,277,411
Net interest income
$
67,706
$
50,809
Net interest spread
2.55
%
1.99
%
Net interest margin (D)
3.34
%
2.81
%
(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.
13
PEAPACK-GLADSTONE FINANCIAL CORPORATION
AVERAGE BALANCE SHEET
(Tax-Equivalent Basis, Dollars in Thousands)
(Unaudited)
For the Three Months Ended
September 30, 2026
June 30, 2026
Average
Income/
Annualized
Average
Income/
Annualized
Balance
Expense
Yield
Balance
Expense
Yield
ASSETS:
Interest-earning assets:
Investments:
Taxable (A)
$
939,090
$
7,430
3.16
%
$
902,433
$
6,947
3.08
%
Loans (B) (C):
Mortgages
668,213
7,909
4.73
674,171
8,121
4.82
Commercial mortgages
2,839,401
36,229
5.06
2,728,178
33,116
4.87
Commercial
3,008,999
48,106
6.39
2,854,290
45,245
6.34
Commercial construction
807
13
6.39
746
12
6.45
Installment
307,122
4,753
6.14
219,354
3,457
6.32
Home equity
55,640
962
6.86
57,084
973
6.84
Other
1,033
4
1.54
1,079
4
1.49
Total loans
6,881,215
97,976
5.65
6,534,902
90,928
5.58
Interest-earning deposits
226,092
1,679
2.95
321,314
2,550
3.18
Total interest-earning assets
8,046,397
107,085
5.28
%
7,758,649
100,425
5.19
%
Noninterest-earning assets:
Cash and due from banks
8,293
7,865
Allowance for credit losses
(71,902
)
(66,991
)
Premises and equipment
41,471
40,188
Other assets
132,562
131,214
Total noninterest-earning assets
110,424
112,276
Total assets
$
8,156,821
$
7,870,925
LIABILITIES:
Interest-bearing deposits:
Checking
$
3,811,998
$
26,454
2.75
%
$
3,810,661
$
25,306
2.66
%
Money markets
1,315,270
8,848
2.67
1,194,874
7,665
2.57
Savings
106,103
197
0.74
112,263
205
0.73
Certificates of deposit – retail
376,680
2,736
2.88
396,342
2,947
2.98
Total interest-bearing deposits
5,610,051
38,235
2.70
5,514,140
36,123
2.63
Borrowings
111,630
1,133
4.03
15,087
154
4.09
Capital lease obligation
1,075
11
4.06
1,118
12
4.31
Subordinated debt
—
—
—
—
—
—
Total interest-bearing liabilities
5,722,756
39,379
2.73
%
5,530,345
36,289
2.63
%
Noninterest-bearing liabilities:
Demand deposits
1,583,319
1,528,479
Accrued expenses and other liabilities
115,929
106,295
Total noninterest-bearing liabilities
1,699,248
1,634,774
Shareholders’ equity
734,817
705,806
Total liabilities and shareholders’ equity
$
8,156,821
$
7,870,925
Net interest income
$
67,706
$
64,136
Net interest spread
2.55
%
2.56
%
Net interest margin (D)
3.34
%
3.32
%
(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.
14
PEAPACK-GLADSTONE FINANCIAL CORPORATION
AVERAGE BALANCE SHEET
(Tax-Equivalent Basis, Dollars in Thousands)
(Unaudited)
For the Nine Months Ended
September 30, 2026
September 30, 2025
Average
Income/
Average
Income/
Balance
Expense
Yield
Balance
Expense
Yield
ASSETS:
Interest-earning assets:
Investments:
Taxable (A)
$
925,220
$
21,503
3.10
%
$
1,010,936
$
24,087
3.18
%
Loans (B) (C):
Mortgages
666,410
23,988
4.80
636,268
21,146
4.43
Commercial mortgages
2,749,181
100,896
4.91
2,423,225
82,017
4.51
Commercial
2,879,869
136,708
6.33
2,520,420
124,909
6.61
Commercial construction
711
35
6.58
—
—
—
Installment
242,244
11,205
6.18
134,883
6,914
6.83
Home equity
56,179
2,871
6.83
50,143
2,811
7.47
Other
914
13
1.90
339
15
5.95
Total loans
6,595,508
275,716
5.59
5,765,278
237,812
5.50
Interest-earning deposits
245,408
5,554
3.03
259,707
7,354
3.78
Total interest-earning assets
7,766,136
302,773
5.21
%
7,035,921
269,253
5.10
%
Noninterest-earning assets:
Cash and due from banks
8,282
9,646
Allowance for credit losses
(70,221
)
(78,040
)
Premises and equipment
40,339
34,382
Other assets
134,264
130,645
Total noninterest-earning assets
112,664
96,633
Total assets
$
7,878,800
$
7,132,554
LIABILITIES:
Interest-bearing deposits:
Checking
$
3,779,199
$
75,602
2.67
%
$
3,548,745
$
87,168
3.28
%
Money markets
1,194,479
22,881
2.56
979,675
20,487
2.79
Savings
110,058
595
0.72
104,983
443
0.56
Certificates of deposit – retail
394,755
8,782
2.97
448,187
12,022
3.58
Subtotal interest-bearing deposits
5,478,491
107,860
2.63
5,081,590
120,120
3.15
Interest-bearing demand – brokered
—
—
—
6,337
210
4.42
Total interest-bearing deposits
5,478,491
107,860
2.63
5,087,927
120,330
3.15
Borrowings
57,569
1,719
3.99
15,215
516
4.53
Capital lease obligation
1,117
35
4.19
1,282
40
4.16
Subordinated debt
21,767
1,207
7.41
108,065
3,287
4.06
Total interest-bearing liabilities
5,558,944
110,821
2.67
%
5,212,489
124,173
3.18
%
Noninterest-bearing liabilities:
Demand deposits
1,506,443
1,185,955
Accrued expenses and other liabilities
111,106
113,521
Total noninterest-bearing liabilities
1,617,549
1,299,476
Shareholders’ equity
702,307
620,589
Total liabilities and shareholders’ equity
$
7,878,800
$
7,132,554
Net interest income
$
191,952
$
145,080
Net interest spread
2.54
%
1.92
%
Net interest margin (D)
3.30
%
2.76
%
(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.
15
PEAPACK-GLADSTONE FINANCIAL CORPORATION
NON-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, return on average tangible common equity, and efficiency ratio to the underlying GAAP numbers is set forth below.
Three Months Ended
Sept 30,
June 30,
March 31,
Dec 31,
Sept 30,
Tangible Book Value Per Share
2026
2026
2026
2025
2025
Shareholders’ equity
$
735,626
$
715,785
$
699,204
$
658,206
$
642,550
Less: preferred stock
50,000
30,000
30,000
—
—
Total common equity
685,626
685,785
669,204
658,206
642,550
Less: intangible assets, net
43,116
43,352
43,595
43,839
44,111
Tangible common equity
$
642,510
$
642,433
$
625,609
$
614,367
$
598,439
Period end shares outstanding
17,727,952
17,718,733
17,708,327
17,558,019
17,548,471
Tangible book value per share
$
36.24
$
36.26
$
35.33
$
34.99
$
34.10
Book value per share
38.67
38.70
37.79
37.49
36.62
Tangible Equity to Tangible Assets
Total assets
$
8,497,546
$
7,970,293
$
7,698,965
$
7,526,409
$
7,439,642
Less: intangible assets, net
43,116
43,352
43,595
43,839
44,111
Tangible assets
$
8,454,430
$
7,926,941
$
7,655,370
$
7,482,570
$
7,395,531
Tangible common equity to tangible assets
7.60
%
8.10
%
8.17
%
8.21
%
8.09
%
Common equity to assets
8.07
%
8.60
%
8.69
%
8.75
%
8.64
%
16
(Dollars in thousands, except per share data)
Three Months Ended
Sept 30,
June 30,
March 31,
Dec 31,
Sept 30,
Return on Average Tangible Common Equity
2026
2026
2026
2025
2025
Net income available to common shareholders
$
18,451
$
15,777
$
14,153
$
12,159
$
9,631
Average shareholders’ equity
$
734,817
$
705,806
$
665,537
$
647,645
$
629,091
Less: average preferred stock
45,000
30,000
2,000
—
—
Total average common equity
689,817
675,806
663,537
647,645
629,091
Less: average intangible assets, net
43,246
43,487
43,741
43,982
44,266
Total average tangible common equity
$
646,571
$
632,319
$
619,796
$
603,663
$
584,825
Return on average tangible common equity
11.41
%
9.98
%
9.13
%
8.06
%
6.59
%
For the Nine Months Ended
Sept 30,
Sept 30,
Return on Average Tangible Common Equity
2026
2025
Net income available to common shareholders
$
48,381
$
25,167
Average shareholders’ equity
$
702,307
$
620,589
Less: average preferred stock
25,824
—
Total average common equity
676,483
620,589
Less: average intangible assets, net
43,490
44,676
Total average tangible common equity
$
632,993
$
575,913
Return on average tangible common equity
10.19
%
5.83
%
(Dollars in thousands)
Three Months Ended
Sept 30,
June 30,
March 31,
Dec 31,
Sept 30,
Efficiency Ratio
2026
2026
2026
2025
2025
Net interest income
$
67,492
$
63,921
$
59,896
$
56,542
$
50,573
Total other income
19,996
22,131
22,597
21,659
20,121
Add:
Fair value adjustment for CRA equity security
502
55
84
(56
)
(125
)
Less:
Loss on loans held for sale at lower of cost or fair value
—
—
—
—
364
Income from life insurance proceeds
—
—
—
(161
)
Loss on securities sale, net
—
—
81
—
—
Gain on sale of property
—
—
—
(318
)
—
Loss on sale of OREO property
510
—
—
—
—
Total recurring revenue
88,500
86,107
82,658
77,666
70,933
Operating expenses
55,148
55,667
55,440
53,538
52,297
Total operating expense
55,148
55,667
55,440
53,538
52,297
Efficiency ratio
62.31
%
64.65
%
67.07
%
68.93
%
73.73
%
17
For the Nine Months Ended
September 30,
September 30,
Efficiency Ratio
2026
2025
Net interest income
$
191,309
$
144,368
Total other income
64,724
60,426
Add:
Fair value adjustment for CRA equity security
641
(362
)
Less:
Loss/(gain) on loans held for sale at lower of cost or fair value
—
364
Income from life insurance proceeds
—
—
Loss/(gain) on securities sale, net
81
(7
)
Gain on sale of property
—
—
Loss on sale of OREO property
510
—
Gain on lease termination
—
(875
)
Total recurring revenue
257,265
203,914
Operating expenses
166,255
153,630
Total operating expense
166,255
153,630
Efficiency ratio
64.62
%
75.34
%
18

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EX-99.2
3
pgc-ex99_2.htm
EX-99.2
WEALTH MANAGEMENT | COMMERCIAL BANKING | PERSONAL BANKING Peapack-Gladstone Financial Corporation Q3 2026 Earnings Presentation Q3 DEPOSIT GROWTH + $301M Q3 LOAN GROWTH + $403M Q3 EARNINGS PER SHARE $0.99 01 (+ 4% QoQ) (+ 6% QoQ) (+ 15% QoQ) Exhibit 99.2
Q3 2026 HIGHLIGHTS Our organic growth continues to result in positive momentum TOTAL REVENUE1 $87.5M +24% YoY OPERATING EXPENSE $55.1M +5% YoY (−1% QoQ) PRE-TAX PRE-PROVISION NET REVENUE2 $32.3M +76% YoY NET INCOME TO COMMON 3 $18.5M +92% YoY LOAN GROWTH +$1.1B +17% YoY DEPOSIT GROWTH +$0.8B +12% YoY 10 CONSECUTIVE quarters of revenue growth 6 CONSECUTIVE quarters of earnings growth INVESTMENT GRADE Moody’s Affirmed IG Rating & Stable Outlook ¹ See page 21 for notes and important information. 02 Strategic execution is translating to financial results.
LONG-TERM STRATEGIC EXECUTION Our investments have translated into higher core earnings Annualized PPNR¹ reached $129M—approximately 2.7x the Q3 2024 trough in earnings. INDUSTRY MARGIN PRESSURE INVESTMENT PERIOD CORE EARNINGS INFLECTION ¹ See page 21 for notes and important information. 03 Mar–Jul 2023 Industry stress and dislocation after three large bank failures May 2023 First experienced NYC team hired Apr 2024 13 NYC teams and leadership in place Jan 2025 Rebrand to Peapack Private Apr 2025 Flagship NYC financial center opened at 300 Park Ave Summer/Fall 2025 Long Island expansion, wealth hires in NYC and LI, new CRE & EF leadership and teams
THIRD QUARTER HIGHLIGHTS Earnings increased 17% sequentially ($ in millions, except per share data and ratios)   Q2 2026 Q3 2026 QoQ Total revenue $86.1 $87.5   Operating expense 55.7 55.1   Pre-provision net revenue¹ 30.4 32.4 +6% Provision for credit losses 8.1 8.5   Income before taxes 22.3 23.9   Income tax expense 6.3 4.9 −23% Net income 16.0 19.0   Dividends on preferred stock 0.2 0.5   Net income to common shareholders $15.8 $18.5 +17% Performance Metrics       Earnings per share (diluted) $0.86 $0.99 +15% Net interest margin 3.32% 3.34%   GAAP efficiency ratio 64.69% 63.03% −166 bps Franchise Balances       Deposits $7,058 $7,358 +4%  Loans $6,679 $7,082 +6% OPERATING LEVERAGE Revenue +2% | Expense −1% Efficiency improved 166 bps QoQ & 1095 bps YoY EARNINGS MOMENTUM EPS +15% QoQ | +83% YoY ORGANIC GROWTH YoY Loans +17% Deposits +12% Wealth Revenue +9% ¹ See page 21 for notes and important information. 04
BALANCE SHEET GROWTH Loans and deposits are expanding at an attractive pace Growth has not been linear but our expectations remain $200 million of growth in both loans and deposits per quarter over time. 05 +17% YoY Loans +12% YoY Deposits ¹ See page 21 for notes and important information. ($ billions)
DEPOSIT TRENDS Strong Deposit Growth Deposits grew $301 million sequentially. DEPOSIT GROWTH QOQ +$301M (+4%) DEPOSIT GROWTH YOY +$796M (+12%) NIB DEPOSIT GROWTH YOY +$232M (+18%) 06 $6.6 $6.6 $6.8 $7.1 $7.4 ($ billions)
LOAN TRENDS Loan Portfolio Growth across commercial, multifamily and other lending opportunities. LOAN GROWTH QoQ +$403M (+6%) LOAN GROWTH YoY +$1.1B (+17%) C&I GROWTH YoY +$409M (+15%) 07 $6.0 $6.3 $6.4 $6.7 $7.1 ($ billions)
NET INTEREST INCOME Consistent NII growth and margin expansion Net interest income increased 33% YoY, while net interest margin expanded 2 bps sequentially. Net Interest Income ($ millions) Net Interest Margin (%) NET INTEREST INCOME GROWTH QoQ +6% Q3 NET INTEREST INCOME $67.5M Q3 NET INTEREST MARGIN 3.34% +2 bps QoQ | +53 bps YoY 08 +33% YoY
OPERATING PERFORMANCE Disciplined execution is improving returns Expense discipline and revenue growth are producing a stronger return profile. ROATCE¹ (%) GAAP Efficiency Ratio (%) OPERATING EXPENSE $55.1M −1% QoQ ROATCE¹ 11.4% +587 bps since Q3 2024 GAAP EFFICIENCY RATIO 63.0% -1583 bps since Q3 2024 09 ¹ See page 21 for notes and important information. 1
CAPITAL POSITION Current capital levels and buffers ($ in millions; all data as of September 30, 2026) ¹ See page 21 for notes and important information. 10 Regulatory Capital – Holding Company   Amount Ratio Well-Capitalized1 Buffer Tier 1 leverage 761 9.29% 4.00% 433 Tier 1 capital / risk-weighted assets 761 10.77% 8.50% 160 Common equity Tier 1 / risk-weighted assets 711 10.06% 7.00% 216 Tier 1 & Tier 2 capital / risk-weighted assets 835 11.81% 10.50% 93
WEALTH MANAGEMENT Wealth Management remains foundational to our private banking brand A scaled, long-established wealth management franchise differentiates the platform and deepens relationships across generations. AUM / AUA $13.6B SEPTEMBER 30, 2026 WEALTH REVENUE $17.3M (+9% YoY) Q3 2026 Relationships across generations A long operating history and trusted advice support multigenerational wealth planning, investment management, and fiduciary relationships. Scarcity value Fiduciary expertise, specialist talent, established infrastructure, and client trust create significant barriers to entry. Holistic Financial Solutions Wealth clients gain access to banking, bespoke credit, and treasury services through a coordinated private banking relationship. 11 $51.0M YTD 20261 ¹ See page 21 for notes and important information.
OUTLOOK Our differentiated model is driving growth and improved profitability Our wealth-anchored private banking approach is delivering growth and improving operating leverage. Established platform Experienced teams Specialist capabilities Scaled infrastructure Integrated client relationship Wealth and fiduciary advice Private and commercial banking Credit and treasury solutions Disciplined execution Pricing and funding Expense and credit discipline Capital management LONG-TERM RETURN OBJECTIVES 1.25%+ ROA | 14%+ ROE 12 Peapack Private Bank & Trust
IMPORTANT INFORMATION Statement Regarding Forward-Looking Information This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and may include expressions about Management’s strategies and Management’s expectations about financial condition and operating results, 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 actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to: 1) 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; 2) the impact of anticipated higher operating expenses in 2026 and beyond; 3) our ability to successfully integrate wealth management firm and team acquisitions; 4) our ability to successfully integrate our expanded employee base; 5) an unexpected decline in the economy, in particular in our New Jersey and New York market areas, including potential recessionary conditions; 6) declines in our net interest margin caused by the interest rate environment, including the shape of the yield curve and/or our highly competitive market; 7) adverse changes in securities markets; 8) impact from a pandemic event on our business, operations, customers, allowance for credit losses and capital levels; 9) higher than expected increases in our allowance for credit losses; 10) changes in the methodology and assumptions used to calculate the allowance for credit losses; 11) higher than expected increases in credit losses or in the level of delinquent, nonperforming, classified and criticized loans or charge-offs; 12) 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; 13) decline in real estate values within our market areas; 14) 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; 15) the imposition of tariffs, trade policies and other measures impacting our borrowers and/or the broader economy; 16) the impact of any federal government shutdown, debt ceiling impasses or fiscal uncertainty; 17) 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; 18) higher than expected FDIC insurance premiums; 19) adverse weather conditions; 20) the current or anticipated impact of military conflict, terrorism or other geopolitical events; 21) our inability to successfully generate new business in new geographic markets; 22) a reduction in our lower-cost funding sources; 23) changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; 24) our inability to adapt to technological changes; 25) claims and litigation pertaining to fiduciary responsibility, environmental laws and other matters; 26) our inability to retain key employees; 27) demand for loans and deposits in our market areas; 28) changes in New York City rent regulation law; 29) 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; 30) changes in accounting policies and practices; and/or 31) other unexpected material adverse changes in our financial condition, operations or earnings. The Company undertakes 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, the Company cannot guarantee future results, levels of activity, performance or achievements. 13
Q3 2026 INVESTOR PRESENTATION Appendix A Franchise, client experience, credit and capital 14
APPENDIX A | FRANCHISE Metropolitan New York Boutique Bank Founded in 1921, with an established wealth franchise and a single point of contact model. A regional franchise built for relationships Experienced teams deliver private banking, commercial, and wealth services across New Jersey and metropolitan New York. $13.6B Wealth AUM / AUA 14% CAGR since 2012 $7.4B Deposits 12% CAGR since 2012 $7.1B Gross loans 15% CAGR since 2012 Financial centers include New York City, Rye Brook, Garden City, and Melville, complementing the established New Jersey presence. 15
APPENDIX A | PRIVATE BANK MODEL Wealth anchors a full-service private banking relationship One private banker connects each client with banking, wealth and advisory capabilities. 16 Investment Banking Broadens the firm’s capabilities with strategic advisory and capital markets expertise. Creates deeper connections for business-owner and middle-market relationships. Trust & Fiduciary Services Provides durable, relationship-based revenue through trust and estate services. Helps retain and transition wealth across generations. Financial & Retirement Planning Deepens client relationships through comprehensive, advice-led financial planning. Supports long-term asset retention and multigenerational client engagement. Personal Banking & Bespoke Credit Solutions Expands relationships with high net worth clients through tailored banking and credit solutions. Creates opportunities to meet client’s financial needs. Investment & Wealth Management Provides customized fiduciary approach to investment management. Supports growth in assets under management and strengthens long-term client retention. Commercial Banking Serves as a core driver of relationship growth across middle-market and commercial clients. Creates cross-selling opportunities across deposits, treasury management, wealth, and advisory services. Private Banker
APPENDIX A | CLIENT EXPERIENCE & CULTURE Client experience and culture are fundamental to our franchise Net Promoter Score improved 24 points from 2023 to 2025. NET PROMOTER SCORE Banking industry benchmark¹: 41 Personalized service A dedicated relationship manager coordinates tailored solutions. Trusted advice Professional, transparent interactions support long-term relationships. Responsive experience Clear communication and efficient processes make banking easier. American Banker Best Banks to Work For Recognized for eight consecutive years Crain’s New York Business Best Places to Work in NYC Recognized for three consecutive years PEAPACK-GLADSTONE FINANCIAL CORPORATION | Q3 2026 17 ¹ See page 21 for notes and important information.
APPENDIX A | CREDIT QUALITY Credit quality improved sequentially Key asset quality ratios improved quarter over quarter in both the NY rent-regulated multifamily and total loan portfolios. Criticized & classified loans / gross loans 30–89 days past due / gross loans Nonperforming assets / total assets Total portfolio NYRRMF¹ 18 ¹ See page 21 for notes and important information.
APPENDIX A | NEW YORK RENT-REGULATED MULTIFAMILY Conservatively underwritten NY rent-regulated MF portfolio continues to run off NY rent-regulated multifamily has declined by 12% year-over-year, from 18% to 11% of total loans. Portfolio statistic 9/30/2026 NY rent-regulated balance $775M Number of loans 185 Number of relationships 105 Average loan size $4.2M Weighted-average DSCR 1.29x Weighted-average LTV 64% Special mention $28.3M 30–89 days past due $24.1M Nonperforming $38.9M Active portfolio management and conservative underwriting remain central to the runoff strategy. 19
Q3 2026 INVESTOR PRESENTATION Appendix B Financial data, reconciliations and supporting tables 20
APPENDIX B Notes and Important Information Highlights and Strategic Execution (pages 2–4) Total Revenue equals net interest income plus non-interest income. Pre-Tax Pre-Provision Net Revenue (“PPNR”) or “Core Earnings” is a non-GAAP measure; see page 27. Annualized PPNR equals quarterly PPNR × 4. Net Income to Common represents Net Income available to common shareholders. Wealth Management (page 11) Year-to-date revenue covers the nine months ended September 30, 2026. Client Experience and Culture (page 17) U.S. banking industry benchmark: Qualtrics, a provider of client surveys and net promoter score research. Credit Quality (pages 18 & 19) NYRRMF means NY rent-regulated multifamily. 21 Loan Trends (page 5) Total loans includes loans held for sale. Operating Performance (page 9) Return on Average Tangible Common Equity (“ROATCE”) is a non-GAAP measure; see page 26. Capital (page 10) “Well-capitalized” as defined under the Prompt Corrective Action (“PCA”) capital standards set forth in Section 38 of the Federal Deposit Insurance Act.
APPENDIX B | BALANCE SHEET Balance Sheet & AUM/AUA ($ in thousands) ASSETS 9/30/25 12/31/25 9/30/26 Cash and cash equivalents 347,186 187,820 268,882 Investments - AFS 781,368 802,267 847,011 Investments - HTM 97,414 95,862 77,350 Residential / Consumer 878,905 895,224 1,039,982 Multifamily mortgage 1,796,533 1,862,592 1,832,595 Commercial mortgage 689,166 774,428 1,137,877 Commercial loans 2,662,661 2,726,379 3,071,232 Total loans 6,027,265 6,258,623 7,081,686 Less: allowance for credit losses 68,642 71,039 72,951 Net loans 5,958,623 6,187,584 7,008,735 Other assets 255,051 252,876 295,568 TOTAL ASSETS 7,439,642 7,526,409 8,497,546 LIABILITIES AND EQUITY 9/30/25 12/31/25 9/30/26 Noninterest-bearing DDA 1,323,492 1,428,745 1,555,544 Interest-bearing DDA 3,509,403 3,448,497 3,658,620 Money market and savings 1,331,030 1,303,118 1,774,184 Retail and listing-service CDs 398,237 408,619 370,034 Total deposits 6,562,162 6,588,979 7,358,382 Borrowings — 73,267 281,119 Subordinated debt, net 98,981 99,030 — Other liabilities 135,949 106,927 122,419 TOTAL LIABILITIES 6,797,092 6,868,203 7,761,920 Shareholders' equity 642,550 658,206 735,626 TOTAL LIABILITIES AND EQUITY 7,439,642 7,526,409 8,497,546   9/30/25 12/31/25 9/30/26 Wealth AUM / AUA 12,865,029 13,108,473 13,649,612 22
APPENDIX B | ASSET QUALITY Asset Quality ($ in thousands)   9/30/2025 12/31/2025 9/30/2026 Loans past due over 90 days and still accruing $ — $ — $ 200 Nonaccrual loans 84,142 68,243 57,535 Other real estate owned — — 96 Total nonperforming assets $84,142 $68,243 $57,831 Nonperforming loans to total loans 1.40% 1.09% 0.82% Nonperforming assets to total assets 1.13% 0.91% 0.68% Performing modifications1 2 $101,501 $95,266 $38,388 Loans past due 30 through 89 days and still accruing 28,817 26,555 39,379 Loans subject to special mention 56,534 51,027 56,380 Classified loans 134,982 118,912 89,498 Individually evaluated loans $84,142 $68,243 $57,535 Allowance for credit losses (ACL)       Beginning of period $81,770 $68,642 $69,167 Provision for credit losses3 4,871 7,659 8,436 (Charge-offs) / recoveries, net4 (17,999) (5,262) (4,652) End of period $68,642 $71,039 $72,951 ACL to nonperforming loans 81.58% 104.10% 126.35% ACL to total loans 1.14% 1.14% 1.03% Collectively evaluated ACL to total loans5 0.95% 0.94% 0.97% Performing modifications pay under modified terms. Excludes nonaccrual modifications of $37.6M / $36.0M / $24.7M at Sep. 2025 / Dec. 2025 / Sep. 2026. Excludes off-balance-sheet credit (Sep. 2025: $81k) / provision (Dec. 2025: $12k; Sep. 2026: $63k). Sep. 2025 charge-offs included $6.7M on three multifamily loans and $11.3 million on one equipment finance relationship; Dec. 2025, $6.3M on two multifamily loans; Sep. 2026, $1.7M on two multifamily loans and $2.8M on seven commercial and industrial loans. Collective ACL = total ACL less individually evaluated reserves. 23
APPENDIX B | CAPITAL SUMMARY Capital Adequacy and Regulatory Capital ($ in thousands, except per share data) 9/30/2025  12/31/2025  9/30/2026 Common equity to total assets 8.64% 8.75% 8.07% Tangible common equity to tangible assets¹ 8.09% 8.21% 7.60% Book value per share $36.62 $37.49 $38.67 Tangible book value per share² $34.10 $34.99 $36.24 Regulatory Capital – Holding Company   Amount ($) Ratio Amount ($) Ratio Amount ($) Ratio Tier 1 leverage 647,549 8.86% 660,696 8.87% 760,887 9.29% Tier 1 capital / risk-weighted assets 647,549 10.47% 660,696 10.33% 760,887 10.77% Common equity Tier 1 / risk-weighted assets 647,543 10.47% 660,637 10.33% 710,828 10.06% Tier 1 & Tier 2 capital / risk-weighted assets 815,770 13.20% 811,375 12.68% 834,593 11.81% Regulatory Capital – Bank   Amount ($) Ratio Amount ($) Ratio Amount ($) Ratio Tier 1 leverage 722,684 9.89% 735,931 9.89% 747,076 9.13% Tier 1 capital / risk-weighted assets 722,684 11.70% 735,931 11.52% 747,076 10.59% Common equity Tier 1 / risk-weighted assets 722,678 11.70% 735,872 11.52% 747,017 10.59% Tier 1 & Tier 2 capital / risk-weighted assets 791,924 12.82% 807,580 12.64% 820,782 11.63% 1) Tangible common equity is calculated by subtracting goodwill, other intangible assets and preferred stock from shareholders’ equity. Tangible assets is calculated by subtracting the balance of goodwill and other intangible assets from total assets. Tangible common equity as a percentage of tangible assets at quarter end is calculated by dividing tangible common equity by tangible assets at quarter end.  See Non-GAAP financial measures reconciliation included in these tables. 2) Tangible book value per share excludes goodwill and other intangible assets.  Tangible book value per share is calculated by dividing tangible common equity by quarter end common shares outstanding.  See Non-GAAP financial measures reconciliation tables. 24 Capital Adequacy
APPENDIX B | QUARTERLY INCOME STATEMENT Quarterly Income Statements ($ in thousands, except per share data)   Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Interest income $92,545 $93,984 $95,049 $100,210 $106,871 Interest expense 41,972 37,442 35,153 36,289 39,379 Net interest income 50,573 56,542 59,896 63,921 67,492 Wealth Management fee income 15,798 16,064 16,503 17,220 17,279 Other noninterest income 4,323 5,595 6,094 4,911 2,717 Total noninterest income 20,121 21,659 22,597 22,131 19,996 Total revenue 70,694 78,201 82,493 86,052 87,488 Total operating expense 52,297 53,538 55,440 55,667 55,148 Pre-tax pre-provision net revenue 18,397 24,663 27,053 30,385 32,340 Provision for credit losses 4,790 7,671 7,327 8,088 8,499 Income before taxes 13,607 16,992 19,726 22,297 23,841 Income tax expense 3,976 4,833 5,573 6,325 4,895 Net income 9,631 12,159 14,153 15,972 18,946 Dividends on preferred stock 0 0 0 195 495 Net income available to common shareholders $9,631 $12,159 $14,153 $15,777 $18,451 Earnings per share (diluted) $0.54 $0.69 $0.80 $0.86 $0.99 Return on average assets annualized (ROAA) 0.53% 0.65% 0.74% 0.81% 0.93% Return on average equity annualized (ROAE) 6.12% 7.51% 8.53% 9.34% 10.70% Return on average tangible common equity (ROATCE)¹ 6.59% 8.06% 9.13% 9.98% 11.41% GAAP efficiency ratio 73.98% 68.46% 67.21% 64.69% 63.03% 1) Return on average tangible common equity is calculated by dividing annualized net income available to common shareholders by tangible common equity.  See Non-GAAP financial measures reconciliation table. 25
APPENDIX B | NON-GAAP FINANCIAL MEASURES Tangible Capital and ROATCE Reconciliation ($ in thousands, except per share data) Tangible Book Value Per Share Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Shareholders' equity 642,550 658,206 699,204 715,785 735,626 Less: preferred stock 0 0 30,000 30,000 50,000 Total common equity 642,550 658,206 669,204 685,785 685,626 Less: intangible assets, net 44,111 43,839 43,595 43,352 43,116 Tangible common equity 598,439 614,367 625,609 642,433 642,510 Period end shares outstanding 17,548,471 17,558,019 17,708,327 17,718,733 17,727,952 Tangible book value per share $34.10 $34.99 $35.33 $36.26 $36.24 Book value per share $36.62 $37.49 $37.79 $38.70 $38.67 Tangible Equity to Tangible Assets           Total assets 7,439,642 7,526,409 7,698,965 7,970,293 8,497,546 Less: intangible assets, net 44,111 43,839 43,595 43,352 43,116 Tangible assets 7,395,531 7,482,570 7,655,370 7,926,941 8,454,430 Tangible common equity to tangible assets 8.09% 8.21% 8.17% 8.10% 7.60% Common equity to assets 8.64% 8.75% 8.69% 8.60% 8.07% Return on Average Tangible Common Equity           Net income available to common shareholders 9,631 12,159 14,153 15,777 18,451 Average shareholders' equity 629,091 647,645 665,537 705,806 734,817 Less: average preferred stock 0 0 2,000 30,000 45,000 Total average common equity 629,091 647,645 663,537 675,806 689,817 Less: intangible assets, net 44,266 43,982 43,741 43,487 43,246 Total average tangible common equity 584,825 603,663 619,796 632,319 646,571 Return on average tangible common equity 6.59% 8.06% 9.13% 9.98% 11.41% We believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our financial position, results and ratios.  Our management internally assesses our performance based, in part, on these measures.  However, these non-GAAP financial measures are supplemental and are not a substitute for an analysis based on GAAP measures.  As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. 26
APPENDIX B | NON-GAAP FINANCIAL MEASURES Pre-Tax Pre-Provision Net Revenue Reconciliation ($ in thousands)   Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Income before income taxes $13,607 $16,992 $19,726 $22,297 $23,841 Provision for credit losses 4,790 7,671 7,327 8,088 8,499 Pre-tax pre-provision net revenue $18,397 $24,663 $27,053 $30,385 $32,340 We believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our financial position, results and ratios.  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. Pre-Provision Net Revenue (“PPNR”) is a non-GAAP financial measure used by the Company to assess the earnings available to absorb credit losses and support capital from its core banking operations. PPNR is defined as: Net interest income (GAAP) + Noninterest income (GAAP) − Noninterest expense (GAAP). It excludes the provision for credit losses and income tax expense. PPNR is not a substitute for net income as reported under GAAP, and the calculation may differ from similarly-named measures at other institutions. 27
Peapack-Gladstone Financial Corporation Investor Relations Contacts Douglas L. Kennedy President & Chief Executive Officer 908-719-6554 | dkennedy@peapackprivate.com Frank A. Cavallaro Senior EVP & Chief Financial Officer 908-306-8933 | fcavallaro@peapackprivate.com John P. Babcock Senior EVP & President, Peapack Private Wealth Management 908-719-3301 | jbabcock@peapackprivate.com Matthew P. Remo SVP | Managing Principal, Treasurer & Head of Corporate Finance 908-872-9899 | mremo@peapackprivate.com 500 Hills Drive, Suite 300 | Bedminster, NJ 07921 | 908-234-0700 | peapackprivate.com 28