--- title: "Peapack-Gladstone | 8-K: FY2026 Q2 Revenue: USD 86.05 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/293974225.md" datetime: "2026-07-27T20:55:28.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293974225.md) - [en](https://longbridge.com/en/news/293974225.md) - [zh-HK](https://longbridge.com/zh-HK/news/293974225.md) generator: "portal-rs" --- # Peapack-Gladstone | 8-K: FY2026 Q2 Revenue: USD 86.05 M Revenue: As of FY2026 Q2, the actual value is USD 86.05 M. EPS: As of FY2026 Q2, the actual value is USD 0.85, missing the estimate of USD 0.875. EBIT: As of FY2026 Q2, the actual value is USD 22.3 M. #### Overall Performance Peapack-Gladstone Financial Corporation reported net income available to common shareholders of $15.8 million in the second quarter of 2026, an 11% increase from $14.2 million in the prior quarter and an 89% increase from $7.9 million in the second quarter of 2025. Total revenue for Q2 2026 was $86.1 million, a 23% increase year-over-year compared to $69.7 million in Q2 2025, and an increase from $82.5 million in Q1 2026. Pre-provision net revenue grew approximately 70% year-over-year to $30.4 million in Q2 2026, from $17.8 million in Q2 2025, and up from $27.1 million in Q1 2026. The GAAP efficiency ratio improved to approximately 65% in Q2 2026, from 67.21% in Q1 2026 and 74.41% in Q2 2025. Return on average assets (annualized) was 0.80% in Q2 2026, up from 0.74% in Q1 2026 and 0.45% in Q2 2025. Return on average equity (annualized) was 8.94% in Q2 2026, up from 8.51% in Q1 2026 and 5.11% in Q2 2025. Return on average tangible common equity (annualized) was 9.98% in Q2 2026, up from 9.13% in Q1 2026 and 5.50% in Q2 2025. The company experienced revenue growth of +23% year-over-year (YoY) and operating expense growth of +7% YoY. Pre-Provision Net Revenue (PPNR) grew +70% YoY. #### Net Interest Income and Margin Net interest income for Q2 2026 totaled $63.9 million, an increase of $4.0 million (7%) from $59.9 million in Q1 2026 and an increase of $15.6 million (32%) from $48.3 million in Q2 2025. The net interest margin expanded to 3.32% in Q2 2026, compared to 3.26% in Q1 2026 and 2.77% in Q2 2025. The margin increased 51 basis points (bps) over the past three quarters and 112 bps from its low in Q1 2024. #### Operating Costs Total operating expenses increased to $55.7 million for Q2 2026, compared to $55.4 million for Q1 2026 and $51.9 million for Q2 2025, representing a 7% year-over-year increase. #### Loan and Deposit Growth Total loans increased by $235.9 million (15% annualized) to $6.7 billion at June 30, 2026, compared to $6.4 billion at March 31, 2026. Loans increased year-over-year by $854.1 million (15%). Growth was concentrated in C&I and commercial real estate. Total C&I loans and leases were $2.9 billion, representing 44% of the total loan portfolio at June 30, 2026. Total deposits increased by $230.8 million (14% annualized) to $7.1 billion at June 30, 2026, from $6.8 billion at March 31, 2026. Noninterest-bearing deposits increased by $79.7 million during the quarter. Noninterest-bearing demand deposit (NIB DDA) growth represented 56% of deposit growth over the last twelve months (LTM), and 35% of total quarter-over-quarter (QoQ) growth was in NIB DDA. Gross loans totaled $6.7 billion, showing +15% YoY growth, with Commercial & Industrial (C&I) loans growing +15% YoY. The multifamily portfolio amounts to $1.8 billion. #### Wealth Management Wealth management assets under management and administration reached $13.9 billion, an increase of 13% year-over-year. Wealth management fee income was $17.2 million, accounting for 20% of total revenue. Gross client inflows for wealth management were $205 million during the quarter. Assets Under Management and Administration (AUM/AUA) stood at $13.9 billion at quarter-end, with +13% YoY growth. The segment achieved a 10% Compound Annual Growth Rate (CAGR) over the past three years. Gross inflows were $205 million in Q2 and $432 million year-to-date (YTD). Average client relationship size is $4.8 million. The wealth management segment delivered a 41% EBITDA margin in FY 2025, and YTD revenue was $33.7 million. #### Asset Quality Nonperforming assets increased to $72.2 million, or 0.91% of total assets, in Q2 2026, compared to $59.3 million, or 0.77% of total assets, at March 31, 2026. Loans past due 30 through 89 days and still accruing increased slightly to $48.1 million, or 0.72% of total loans, at June 30, 2026, compared to $47.1 million, or 0.73% of total loans, at March 31, 2026. The provision for credit losses totaled $8.1 million for Q2 2026, compared to $7.3 million for Q1 2026 and $6.6 million for Q2 2025. The allowance for credit losses (ACL) was $69.2 million (1.04% of total loans) at June 30, 2026, compared to $67.0 million (1.04% of total loans) at March 31, 2026. The increase in ACL was due to the provision for credit losses of $8.1 million, partially offset by net charge-offs of $5.9 million. Charge-offs included $6.3 million related to two multifamily loans for the quarter ended December 31, 2025, and $4.8 million related to one multifamily loan and $995,000 related to one commercial mortgage for the quarter ended June 30, 2026. Nonaccrual loans were $21.6 million at June 30, 2026. #### Capital Shareholders’ equity was $715.8 million at June 30, 2026, an increase of $86 million year-over-year. Tangible book value per share increased 9% year-over-year to $36.26, and book value per share increased 8% year-over-year to $38.70. The Company issued the remaining $20 million of its 6% non-cumulative perpetual convertible preferred stock on July 24, 2026, following an initial $30 million private placement in March 2026. The Company’s Tier 1 Leverage Ratio for the Bank was 8.96% and for the Company was 9.13% at June 30, 2026. The Common Equity Tier 1 Ratio was 10.60% for the Bank and 10.38% for the Company, both above regulatory well capitalized standards. #### Outlook / Guidance Peapack-Gladstone Financial Corporation continues to focus on maintaining the capital necessary to prudently support growth, with additional preferred equity issuance enhancing financial flexibility as earnings strengthen. This move is expected to support continued relationship-based balance sheet growth and move the Company toward greater organic capital generation. The company’s long-term financial objectives include achieving a 1.25%+ Return on Assets (ROA) and a 14.00%+ Return on Equity (ROE), and it anticipates higher operating expenses in 2026 and beyond due to strategic growth initiatives. ### Related Stocks - [PGC.US](https://longbridge.com/en/quote/PGC.US.md) ## Related News & Research - [Peapack Gladstone Financial 10-K: Net income $37.3M, EPS $2.10](https://longbridge.com/en/news/278763249.md) - [Skye Bio amends 8-K to set Aug. 24 effective date for reverse stock split](https://longbridge.com/en/news/296471274.md) - [Acres Commercial Realty files amended 8-K with pro forma financials for ACC internalization merger](https://longbridge.com/en/news/296825345.md) - [Getty Realty amends 8-K to detail Eugene Shnayderman separation, including $300,000 cash payment](https://longbridge.com/en/news/296534890.md) - [Webstar amends 8-K to clarify Pipara resignation timing and communication method](https://longbridge.com/en/news/296828037.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**