📃 What This Document Is 📜

This filing is an 8-K, a mandatory report filed with the SEC, designed to announce Peapack-Gladstone Financial Corporation’s financial performance for the first quarter (Q1) of 2026. You can think of this as the company's official quarterly press release and deep dive into how they used their money and where they stand financially. The document provides a detailed look at their profits, asset growth, and strategic investments.

👉 The biggest headline is strong growth across core earnings and a significant capital injection commitment from Strategic Value Bank Partners, reinforcing the company's position in the private banking space.

🏢 What The Company Does 🛡️

Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with a history dating back to 1921. While it is a financial institution, its core business strategy revolves around providing high-touch, client-centric private banking services. It is not a typical large bank; it focuses on tailored solutions for high-net-worth individuals and sophisticated businesses.

👉 In simple terms, they serve as a sophisticated financial partner, providing everything from customized wealth management advice to large commercial loans for privately held businesses. They maintain total assets of $7.7 billion and manage Assets Under Management (AUM) of $13.1 billion as of March 31, 2026.

📈 Core Financial Highlights for Q1 2026 💵

This section outlines the company's main profitability metrics, showing how well the business performed in the first quarter. The data points illustrate significant growth compared to prior periods, indicating successful execution of their growth plan.

• Net Income: Peapack-Gladstone reported a net income of $14.2 million for Q1 2026. This represents a strong increase over the previous quarter ($12.2 million in Q4 2025) and a massive jump from the first quarter of 2025 ($7.6 million). 👉 This robust growth signals strong profitability and demonstrates that their private banking strategy is paying off rapidly.
• Earnings Per Share (EPS): Diluted EPS reached $0.80 in Q1 2026. This compared favorably to $0.69 in Q4 2025 and $0.43 in Q1 2025.
• Net Interest Income (NII): NII totaled $59.9 million for Q1 2026. This marks the eighth consecutive quarter of growth and a substantial increase from $45.5 million in Q1 2025. 👉 NII is the primary source of income for a bank—the difference between the interest they earn on loans and the interest they pay out on deposits. The consistent growth here is very positive.
• Return on Average Assets (ROAA): The annualized ROAA was 0.74% in Q1 2026, up from 0.65% in Q4 2025 and 0.43% in Q1 2025. 👉 Higher returns on assets mean the company is more efficiently using its overall money pool to generate profit.

🏦 Loan and Commercial Banking Performance 🏘️

This section breaks down the company's lending activities. Loans are a cornerstone of banking, representing the money they lend to businesses and individuals. Management highlighted specific segments like Commercial & Industrial (C&I) loans.

• Total Loans: The company reported total loans of $6.4 billion as of March 31, 2026. This is an increase of $686 million compared to the same period last year (Q1 2025). 👉 The overall increase signals that the company is expanding its risk exposure (in a managed way) and actively lending to clients.
• C&I Loans: Total C&I loans and leases reached $2.8 billion at March 31, 2026. Notably, this segment accounts for 43% of the total loan portfolio. 👉 C&I loans are vital because they are tied to business operations (like equipment or real estate), indicating that the company is closely focused on supporting the growth of the middle-market business community.
• Loan Growth Drivers: Douglas L. Kennedy noted that loan growth was primarily driven by the core C&I franchise, including equipment finance. He stated, “We are scaling our C&I platform while maintaining disciplined underwriting standards and reducing reliance on higher-risk segments, which we believe positions the loan portfolio for durable, risk-adjusted growth.” 👉 This quote tells investors that the CEO is emphasizing a careful, controlled growth strategy, prioritizing stability over just maximizing volume.

💰 Wealth Management Division Performance 💎

For a private bank, the wealth management division is often the most crucial part of the business. This section details the assets they manage and the revenue generated from those services.

• Assets Under Management (AUM): The company maintained $13.1 billion in assets under management and administration as of March 31, 2026. 👉 Maintaining this large AUM base is critical, as it represents the pool of money the bank advises on, providing fee-generating opportunities even if the market is volatile.
• Wealth Management Fee Income: This specific revenue stream generated $16.5 million in Q1 2026. This was slightly up from $16.1 million in Q4 2025 and $15.4 million in Q1 2025. 👉 Fee income is highly valuable because it is often more stable than interest income. Clients pay fees regardless of whether the market is booming or declining.
• Client Inflows: John Babcock, President of the Bank’s Wealth Management Division, highlighted that the solid performance was driven by “continued client inflows of $227 million.” 👉 This figure is key because it means new, valuable clients are actively choosing the bank, validating their "client-focused approach."

🏛️ Balance Sheet Strength & Liquidity 💧

This section dives into the bank's overall financial health, specifically focusing on deposits and available cash. Liquidity refers to how easily and quickly the bank can access cash to meet its obligations.

• Total Deposits: Total deposits grew to $6.8 billion as of March 31, 2026. This represents an increase of $540 million year-over-year. 👉 Deposits are the bank's primary source of money (or funding), and stable growth shows customer trust in the institution.
• Noninterest-bearing Deposits: These deposits increased by $115.8 million, representing 49% of the total deposit growth. 👉 These are often the most stable deposits (meaning they aren't tied to a specific type of product), which greatly supports the bank's financial stability and margin.
• Liquidity Ratios: The company’s balance sheet liquidity totaled $991 million, which is 13% of total assets. Furthermore, the total on and off-balance sheet liquidity was $5.0 billion at March 31, 2026. 👉 Maintaining a high liquidity ratio means the bank has more than enough ready cash and highly liquid assets to weather any unexpected shocks.

🛡️ Capital Structure and Reserves 🏦

This section details the funds available to support the bank’s operations, including its equity, and how it accounts for potential loan losses. A healthy capital structure is reassuring to investors.

• Capital Commitments: The bank announced that Strategic Value Bank Partners committed to purchase up to $50 million of preferred stock. This includes an initial $30 million private placement, with an option for an additional $20 million through the end of 2027. 👉 This external commitment is major because it provides guaranteed capital that strengthens the bank's balance sheet without requiring immediate, large amounts of debt or equity from the bank itself.
• Equity Growth: Shareholders' Equity stood at $699 million as of March 31, 2026, up $77 million year-over-year. The tangible book value per share increased 14% year-over-year to $37.02. 👉 Increasing equity shows that the bank is building up a cushion of internal capital, making it stronger and safer for regulators and depositors.
• Credit Quality (ACL): The Allowance for Credit Losses (ACL) at March 31, 2026, was $67.0 million (1.04% of total loans). While nonperforming assets declined, loans past due 30 to 89 days increased to $47.1 million, up from $26.6 million at the end of Q4 2025. 👉 The increase in past due loans is a slight caution flag, but the overall management commentary indicates the bank is proactively monitoring credit risks and managing its reserves carefully.

🎯 Strategic Actions and Client Experience 🚀

Beyond the numbers, a bank's strategy involves its plans for the future and its commitment to clients. This section covers key actions, including dividends, and unique insights into the customer experience.

• Dividend Declaration: The Company declared a cash dividend of $0.05 per share. This dividend is payable on May 21, 2026, with the record date set for May 7, 2026. 👉 A dividend payment is a positive signal to investors that management is confident in the company's sustained cash flow and profitability.
• Operational Momentum (NPS): The Peapack Private Client Experience Net Promoter Score showed significant momentum, reaching 41. This figure represents an increase of 24 points since 2023, substantially exceeding the U.S. Banking Industry Benchmark. 👉 This is powerful qualitative evidence. It confirms that the bank’s deep investment in its client service and "relationship-driven service model" is working, providing a key competitive advantage over larger, more impersonal competitors.

📅 Next Steps and Key Contacts 📧

Understanding what is coming next is as important as understanding the past. This section gathers all the information regarding upcoming calls and who to contact for more details.

• Investor Conference Call: The CEO, Douglas Kennedy, will host an investor conference call on April 23, 2026, at 11:00 a.m. ET. 👉 This is the best opportunity for analysts and investors to ask management direct questions about the numbers and future strategies.
• Contact Information: For detailed financial or corporate questions, the following key personnel are available:
  • Douglas L. Kennedy, President and CEO: (908) 719-6554 / [email protected]
  • Frank A. Cavallaro, SEVP and CFO: (908) 306-8933 / [email protected]
  • John P. Babcock, Senior EVP & President of Wealth Management: (908) 719-3301 / [email protected]

🧠 The Analogy 🏡

Think of Peapack-Gladstone like a specialized family estate manager versus a giant national chain store. A national bank (the big store) serves thousands of people with standardized products. Peapack-Gladstone (the estate manager) works with a defined group of wealthy, sophisticated families and businesses in the Metropolitan NY region. They don't just lend money; they curate entire financial relationships—handling everything from tax planning and investments to mortgages and business financing. Their success relies on deep trust and personalized service, which is reflected in their high Net Promoter Score.

🧩 Final Takeaway 🌟

Peapack-Gladstone demonstrated robust and accelerating profitability in Q1 2026, driven by stable fee income from Wealth Management and steady growth in its core lending segments. The commitment of $50 million in capital from Strategic Value Bank Partners, coupled with superior client service metrics, underscores a disciplined, long-term growth strategy rooted in the lucrative private banking market.