---
title: "Peapack Gladstone Financial 10-K: Net income $37.3M, EPS $2.10"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/278763249.md"
description: "Peapack Gladstone Financial reported a net income of $37.3 million for the year, a 13% increase from the previous year, with diluted earnings per share of $2.10. The growth was attributed to higher net interest income and increased wealth management fees, despite a rise in operating expenses. Wealth management fees accounted for 22% of total revenue, with total operating expenses increasing by 18%. Assets under management grew to $13.1 billion, and total loans rose to $6.3 billion, reflecting strong commercial lending expansion."
datetime: "2026-03-11T18:05:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278763249.md)
  - [en](https://longbridge.com/en/news/278763249.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278763249.md)
---

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# Peapack Gladstone Financial 10-K: Net income $37.3M, EPS $2.10

Peapack Gladstone Financial reported net income of $37.3 million for the year, up 13% from the prior year, with diluted earnings per common share of $2.10. The results were driven by higher net interest income and increased wealth management fee income, while operating expenses rose due to expansion and compensation. Revenue composition included $63.24 million of wealth management fees, representing roughly 22% of total revenue.

**Financial Highlights**

-   **Total other income**: $82.1 million (wealth management fee income reported separately)
-   **Wealth management fee income**: $63.24 million (~22% of total revenue)
-   **Net interest income**: $200.91 million (FTE basis $201.85 million)
-   **Total operating expense**: $207.17 million (increase of $31.49 million, or 18%)
-   **Income before income tax expense**: $52.31 million (increase of $7.36 million vs prior year)
-   **Income tax expense**: $14.98 million (effective tax rate 28.6%)
-   **Net income**: $37.33 million (up $4.34 million, or 13% from 2024)
-   **Diluted earnings per common share**: $2.10 (up $0.25 from 2024)

**Business Highlights**

-   **Wealth management momentum**: Assets under management grew to $13.1 billion, a 10% year-over-year increase supporting advisory expansion.
-   **Deposit and funding shifts**: Core deposits increased by $460 million with $316 million in noninterest-bearing accounts, lowering funding costs and improving margins.
-   **Loan and commercial growth**: Total loans rose by $741 million to $6.3 billion; commercial and industrial lending (including equipment finance) represents 44% of the portfolio, underpinning commercial lending expansion.
-   **Geographic and distribution expansion**: Metro New York initiative added six Long Island production teams and expanded private banking and wealth advisory presence.

Original SEC Filing: PEAPACK GLADSTONE FINANCIAL CORP \[ PGC \] - 10-K - Mar. 11, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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