Dear Valued Shareholder,
On behalf of Peapack-Gladstone Financial Corporation and all of its wholly owned divisions and subsidiaries, I hope you and your families are safe and healthy.
These are certainly unprecedented times for everyone, but it is during times like these that I find comfort and security in knowing that I am not alone. It is my hope that you feel the same, and that you know Peapack-Gladstone Bank and its team of hard-working employees are here for you.
For nearly 100 years, we have put our clients and our communities first. These are two of our most important core principles, which we stand by each and every day. These statements truly define who we are and exemplify our commitment to doing the right thing, providing a trusted relationship for clients, even during extremely difficult times.
The theme of our 2019 Annual Report is “Focused on the Client.” The decision to follow this theme throughout the Report was made well before the Coronavirus entered our lives, but I feel strongly that it rings even more true today than ever before. Although much has changed during the last few months, our commitment to our clients, and our focus on our clients, will never waiver. Whether it is through support of our community organizations in need with funds or volunteers, or through loan or financing relief for our commercial and consumer clients, or specifically through offering Paycheck Protection Program assistance for our small businesses, we will always provide a steady hand.
I am proud of our 2019 accomplishments and that we were able to deliver a seventh year of record results for our shareholders. The enclosed report tells our story, which I hope you will also take pride in.
As we look ahead to our new normal, we will continue to keep our shareholders, our clients, our communities and our employees at the forefront. This will drive our success.
President & CEO
Improving our Culture
Social and Governance Highlights
95% of the Board of Directors are independent; 2019 Awarded the Executive Women of NJ Corporate Board Gender Diversity Award recognizing PGFC for having 3 or more women directors.
Supported over 285 charitable organizations with over $400,000 and collection of tangible goods; over 430 employees contributed over 1,500 volunteer hours—nearly 100% participation in over 30 activities.
Cultural Ambassador Committee created in 2019 to sustain and evolve the corporate culture through ongoing communication, awareness, engagement and advocacy of Core Principles, Diversity and Inclusion, Volunteerism, Wellness and Employee fun.
2019 and 2018: Named a "Best Banks to Work For" by American Banker, and in 2019: Lassus Wherley named a "Best Places to Work for Financial Advisers" by InvestmentNews.
55% of employee base is female; 34.55% of SVP’s and above are female (19/55).
HMDA loans to low- and moderate-income borrowers inside the Bank’s assessment area as of June 30, 2019, totaled 35.3% of all loans originated.