Peapack-Gladstone Financial stock: Q3 profit nearly doubled

Published on 11/10/2026 at 01:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Peapack-Gladstone Financial stock remains in focus after stronger lending and wealth-management income. Management entered Q4 with strong pipelines.

What Q3 results mean

Revenue rose 24 percent year over year to USD 87.5 million in the third quarter.
Net interest income increased 33 percent, while the net interest margin expanded to 3.34 percent.
Loans reached USD 7.1 billion and deposits USD 7.4 billion at September 30, 2026.
Nonperforming assets declined 20 percent sequentially to USD 55.8 million.

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Peapack-Gladstone Financial reported stronger third-quarter results on October 27, 2026, as revenue growth, expanding net interest income and disciplined costs supported earnings. The company's corresponding quarterly filing was submitted on November 6. The results show continued momentum in its private banking strategy, although credit-loss provisions remained an important factor for investors.

According to Last10K.com, third-quarter revenue increased 24 percent from a year earlier to USD 87.5 million. Net interest income rose 33 percent to USD 67.5 million, while the net interest margin widened to 3.34 percent. Wealth-management fee income contributed USD 17.3 million, equal to 20 percent of total revenue.

Profitability gains despite credit costs

Net income available to common shareholders reached USD 18.5 million, or USD 0.99 per diluted share, compared with USD 9.6 million, or USD 0.54 per share, in the year-earlier quarter. Operating expenses fell 1 percent sequentially to USD 55.1 million, and the GAAP efficiency ratio improved to 63.03 percent.

The provision for credit losses increased to USD 8.5 million from USD 4.8 million a year earlier. At the same time, nonperforming assets declined 20 percent sequentially to USD 55.8 million, or 0.68 percent of total assets. Tangible book value per share increased 6 percent year over year to USD 36.24 as of September 30.

Private banking platform expands

Loans reached USD 7.1 billion and deposits USD 7.4 billion at the end of the quarter. Management said its investments in teams across New York City, Westchester and Long Island were supporting deeper client relationships and loan and deposit growth, while it entered the fourth quarter with strong pipelines.

Business model and market position

Peapack-Gladstone Financial is a New Jersey bank holding company and the parent of Peapack Private Bank & Trust. The boutique private bank serves individuals, families, business owners, family offices and advisers through banking, lending, wealth management, investment banking and trust services. Its New Jersey base and focus on relationship-led private banking give it a specialized position in the Metropolitan New York market.