Revenue growth is accelerating with net interest income reaching 59.9 million dollars in 2026Q1, though operating leverage remains under pressure with an efficiency ratio of 47.1 percent.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 |
|---|
| Net Interest Income | 215.3M | 200.91M | 149.01M | 156.09M | 176.08M | 138.06M | 127.6M | 120.27M | 115.16M | 111.14M | 96.44M | 84.45M | 67.89M | 52.78M | 51.4M | 48.91M | 49.89M | 48.35M | 46.32M | 35.87M | 32.82M | 35.29M | 35.06M | 31.16M | 31.89M | 25.04M | 23.06M | 18.4M | 19.11M | 15.19M |
| NII Growth % | 138.56% | 34.83% | -4.54% | -11.35% | 27.54% | 8.2% | 6.09% | 4.44% | 3.62% | 15.25% | 14.19% | 24.39% | 28.65% | 2.67% | 5.09% | -1.95% | 3.19% | 4.38% | 29.14% | 9.28% | -6.99% | 0.67% | 12.49% | -2.28% | 27.38% | 8.58% | 25.32% | -3.7% | 25.76% | - |
| Net Interest Margin % | 2.8% | 2.67% | 2.13% | 2.41% | 2.77% | 2.27% | 2.17% | 2.32% | 2.49% | 2.61% | 2.49% | 2.51% | 2.51% | 2.68% | 3.08% | 3.06% | 3.31% | 3.2% | 3.34% | 2.66% | 2.55% | 2.81% | 3.28% | 3.22% | 3.71% | 3.55% | 4.06% | 3.7% | 3.97% | 4.18% |
| Interest Income | 371.23M | 362.52M | 327.8M | 304.01M | 211.88M | 160.07M | 165.75M | 180.67M | 159.69M | 138.73M | 117.05M | 99.14M | 75.58M | 57.05M | 56.09M | 56.05M | 60.92M | 66.01M | 71.92M | 72.35M | 67.27M | 55.41M | 44.92M | 41.43M | 43.95M | 40.52M | 35.57M | 26.6M | 29.95M | 22.89M |
| Interest Expense | 155.93M | 161.62M | 178.79M | 147.92M | 35.8M | 22.01M | 38.15M | 60.4M | 44.52M | 27.59M | 20.61M | 14.69M | 7.68M | 4.28M | 4.69M | 7.14M | 11.03M | 17.66M | 25.6M | 36.48M | 34.44M | 20.12M | 9.86M | 10.26M | 12.05M | 15.49M | 12.51M | 8.2M | 10.84M | 7.7M |
| Loan Loss Provision | 26.37M | 23.52M | 7.5M | 14.09M | 6.35M | 6.47M | 36.83M | 4M | 3.55M | 5.85M | 7.5M | 7.1M | 4.88M | 3.42M | 8.28M | 7.25M | 10M | 9.7M | 2.4M | 750K | 414K | 391K | 613K | 600K | 800K | 600K | 500K | 400K | 521K | 400K |
| Non-Interest Income | 83.63M | 78.84M | 75.11M | 69.74M | 62.85M | 68.71M | 61.76M | 54.7M | 43.96M | 34.63M | 26.89M | 21.32M | 18.51M | 17.88M | 19.7M | 14.31M | 12.82M | 13.8M | 14.87M | 14.04M | 10.27M | 11.49M | 9.93M | 10.31M | 7.99M | 6.67M | 5.61M | 4.8M | -13.78M | -11.54M |
| Non-Interest Income % | 18.39% | 17.86% | 18.64% | 18.66% | 22.88% | 30.03% | 27.15% | 23.24% | 21.59% | 19.97% | 18.68% | 17.7% | 19.67% | 23.86% | 25.99% | 20.34% | 17.39% | 17.29% | 17.13% | 16.25% | 13.24% | 17.18% | 18.1% | 19.93% | 15.38% | 14.14% | 13.63% | 15.29% | -85.27% | -101.75% |
| Total Revenue | 454.85M | 441.36M | 402.91M | 373.75M | 274.72M | 228.78M | 227.51M | 235.37M | 203.65M | 173.35M | 143.94M | 120.46M | 94.09M | 74.94M | 75.79M | 70.36M | 73.75M | 79.81M | 86.78M | 86.39M | 77.53M | 66.91M | 54.84M | 51.73M | 51.94M | 47.19M | 41.18M | 31.4M | 16.16M | 11.35M |
| Revenue Growth % | 43.6% | 9.54% | 7.8% | 36.05% | 20.08% | 0.56% | -3.34% | 15.58% | 17.47% | 20.44% | 19.49% | 28.03% | 25.56% | -1.12% | 7.71% | -4.59% | -7.59% | -8.04% | 0.45% | 11.43% | 15.88% | 22% | 6.01% | -0.39% | 10.05% | 14.6% | 31.15% | 94.25% | 42.47% | - |
| Non-Interest Expense | 210.97M | 203.92M | 171.66M | 144.46M | 130.23M | 122.64M | 120.53M | 104.85M | 97.85M | 85.61M | 73.08M | 66.53M | 57.24M | 52.47M | 46.72M | 41.99M | 41.82M | 42.27M | 93.43M | 32.09M | 28.95M | 27.49M | 25.18M | 22.79M | 21.36M | 17.82M | 16.52M | 13M | -4.78M | -4.07M |
| Efficiency Ratio | 46.38% | 46.2% | 42.61% | 38.65% | 47.4% | 53.6% | 52.98% | 44.55% | 48.05% | 49.39% | 50.77% | 55.23% | 60.84% | 70.02% | 61.65% | 59.68% | 56.71% | 52.96% | 107.66% | 37.14% | 37.33% | 41.09% | 45.91% | 44.04% | 41.12% | 37.77% | 40.12% | 41.4% | -29.59% | -35.84% |
| Operating Income | 61.59M | 52.31M | 44.95M | 67.28M | 102.34M | 77.66M | 32M | 66.12M | 57.72M | 54.31M | 42.74M | 32.14M | 24.29M | 14.76M | 16.1M | 13.98M | 10.89M | 10.18M | -34.65M | 17.07M | 13.73M | 18.9M | 19.19M | 18.09M | 17.73M | 13.29M | 11.65M | 9.8M | 9.58M | 7.31M |
| Operating Margin % | 13.54% | 11.85% | 11.16% | 18% | 37.25% | 33.95% | 14.07% | 28.09% | 28.34% | 31.33% | 29.69% | 26.68% | 25.81% | 19.7% | 21.25% | 19.87% | 14.77% | 12.76% | -39.92% | 19.76% | 17.71% | 28.25% | 35% | 34.96% | 34.13% | 28.15% | 28.29% | 31.21% | 59.29% | 64.46% |
| Operating Income Growth % | - | 16.37% | -33.19% | -34.26% | 31.78% | 142.67% | -51.6% | 14.56% | 6.28% | 27.06% | 32.98% | 32.34% | 64.51% | -8.31% | 15.16% | 28.33% | 7.02% | 129.38% | -302.9% | 24.35% | -27.36% | -1.51% | 6.11% | 2.04% | 33.42% | 14.02% | 18.89% | 2.25% | 31.04% | - |
| Pretax Income | 61.59M | 52.31M | 44.95M | 67.28M | 102.34M | 77.66M | 32M | 66.12M | 57.72M | 54.31M | 42.74M | 32.14M | 24.29M | 14.76M | 16.1M | 13.98M | 10.89M | 10.18M | -34.65M | 17.07M | 13.73M | 18.9M | 19.19M | 18.09M | 17.73M | 13.29M | 11.65M | 9.8M | 9.58M | 7.31M |
| Pretax Margin % | 13.54% | 11.85% | 11.16% | 18% | 37.25% | 33.95% | 14.07% | 28.09% | 28.34% | 31.33% | 29.69% | 26.68% | 25.81% | 19.7% | 21.25% | 19.87% | 14.77% | 12.76% | -39.92% | 19.76% | 17.71% | 28.25% | 35% | 34.96% | 34.13% | 28.15% | 28.29% | 31.21% | 59.29% | 64.46% |
| Income Tax | 17.7M | 14.98M | 11.96M | 18.43M | 28.1M | 21.04M | 5.81M | 18.69M | 13.55M | 17.81M | 16.26M | 12.17M | 9.4M | 5.5M | 6.41M | 1.81M | 3.23M | 3.05M | -12.59M | 5.21M | 3.5M | 5.77M | 6.08M | 5.79M | 5.8M | 4.36M | 3.94M | 3.2M | 3.55M | 2.82M |
| Effective Tax Rate % | 28.74% | 28.64% | 26.62% | 27.39% | 27.45% | 27.09% | 18.16% | 28.26% | 23.48% | 32.8% | 38.05% | 37.86% | 38.69% | 37.27% | 39.78% | 12.97% | 29.66% | 30% | 36.33% | 30.53% | 25.53% | 30.54% | 31.7% | 32% | 32.72% | 32.83% | 33.84% | 32.65% | 37.04% | 38.58% |
| Net Income | 43.88M | 37.33M | 32.99M | 48.85M | 74.25M | 56.62M | 26.19M | 47.43M | 44.17M | 36.5M | 26.48M | 19.97M | 14.89M | 9.26M | 9.7M | 12.17M | 7.66M | 7.13M | -22.06M | 11.86M | 10.23M | 13.13M | 13.11M | 12.3M | 11.93M | 8.92M | 7.71M | 6.6M | 6.03M | 4.49M |
| Net Margin % | 9.65% | 8.46% | 8.19% | 13.07% | 27.03% | 24.75% | 11.51% | 20.15% | 21.69% | 21.05% | 18.39% | 16.58% | 15.83% | 12.36% | 12.79% | 17.29% | 10.39% | 8.93% | -25.42% | 13.73% | 13.19% | 19.62% | 23.9% | 23.78% | 22.96% | 18.91% | 18.72% | 21.02% | 37.33% | 39.59% |
| Net Income Growth % | 37.34% | 13.15% | -32.48% | -34.2% | 31.13% | 116.18% | -44.78% | 7.39% | 21.02% | 37.84% | 32.57% | 34.13% | 60.78% | -4.49% | -20.32% | 58.77% | 7.55% | 132.3% | -285.97% | 16% | -22.12% | 0.16% | 6.58% | 3.14% | 33.63% | 15.78% | 16.79% | 9.38% | 34.33% | - |
| Net Income (Continuing) | 43.88M | 37.33M | 32.99M | 48.85M | 74.25M | 56.62M | 26.19M | 47.43M | 44.17M | 36.5M | 26.48M | 19.97M | 14.89M | 9.26M | 9.7M | 12.17M | 7.66M | 7.13M | -22.06M | 11.86M | 10.23M | 13.13M | 13.11M | 12.3M | 11.93M | 8.92M | 7.71M | 6.6M | 6.03M | 4.49M |
| EPS (Diluted) | 2.47 | 2.11 | 1.85 | 2.71 | 4.00 | 2.93 | 1.37 | 2.44 | 2.31 | 2.03 | 1.60 | 1.29 | 1.22 | 1.01 | 1.05 | 1.25 | 0.68 | 0.64 | -2.53 | 1.35 | 1.16 | 1.49 | 1.49 | 1.40 | 1.38 | 1.04 | 0.89 | 0.83 | 0.69 | 0.62 |
| EPS Growth % | 37.78% | 14.05% | -31.73% | -32.25% | 36.52% | 113.87% | -43.85% | 5.63% | 13.79% | 26.88% | 24.03% | 5.74% | 20.79% | -3.81% | -16% | 83.82% | 6.25% | 125.3% | -287.41% | 16.38% | -22.15% | 0% | 6.43% | 1.45% | 32.69% | 16.85% | 7.23% | 20.29% | 11.29% | - |
| EPS (Basic) | - | 2.12 | 1.87 | 2.74 | 4.09 | 3.01 | 1.39 | 2.46 | 2.33 | 2.06 | 1.62 | 1.31 | 1.23 | 1.02 | 1.05 | 1.25 | 0.68 | 0.64 | -2.53 | 1.36 | 1.18 | 1.50 | 1.52 | 1.44 | 1.41 | 1.05 | 0.91 | 0.86 | 0.72 | 0.63 |
| Diluted Shares Outstanding | 17.76M | 17.71M | 17.84M | 18.05M | 18.57M | 19.29M | 19.08M | 19.41M | 19.15M | 17.94M | 16.52M | 15.44M | 12.17M | 9.18M | 8.83M | 8.74M | 8.79M | 8.8M | 8.71M | 8.79M | 8.8M | 8.84M | 8.82M | 8.79M | 8.66M | 8.59M | 8.67M | 7.95M | 8.69M | 7.29M |
Deposit Beta and Funding Costs
As reported in recent financial statements, Peapack-Gladstone achieved a significant acceleration in net interest income, reaching 59.9 million dollars in 2026Q1, which represents a robust 31.6 percent year-over-year growth rate, signaling successful execution of their strategic pivot toward higher-yielding commercial and industrial lending portfolios.
The consistent expansion of NII over the last five quarters suggests that the bank is successfully capturing higher asset yields despite a challenging interest rate environment. Investors should monitor whether this growth is sustainable or if it relies on aggressive balance sheet expansion that may eventually pressure capital adequacy ratios.
Based on the provided quarterly data, the net interest margin remains constrained at 0.8 percent as of 2026Q1, indicating that rising funding costs continue to offset the benefits of asset repricing, a trend that warrants further investigation into the bank's deposit beta sensitivity.
The stagnant NIM performance suggests that the bank's high-net-worth client base may be demanding competitive deposit rates, limiting the bank's ability to expand spreads. This margin profile appears to be a structural challenge for the boutique model, as the cost of retaining sophisticated deposits remains elevated.
According to the reported efficiency ratios, Peapack-Gladstone has seen its overhead burden climb to 47.1 percent in 2026Q1, suggesting that the high fixed costs associated with specialized private banking talent are currently outpacing the bank's ability to generate incremental revenue from its existing service model.
The upward trend in the efficiency ratio indicates that the bank is struggling to achieve meaningful operating leverage. This may imply that the current boutique strategy requires significant ongoing investment in human capital, which could continue to weigh on profitability if revenue growth does not accelerate further.
As indicated by the quarterly filings, provision expenses have risen to 7.3 million dollars in 2026Q1, reflecting a shift from the minimal provisioning seen in early 2024 and suggesting that the bank is proactively adjusting its allowance for credit losses to account for potential regional economic headwinds.
The increase in provision expense appears to be a prudent response to the current credit cycle, particularly given the bank's exposure to commercial and industrial lending. Analysts should monitor whether these provisions are sufficient to cover potential losses in the equipment finance portfolio should regional economic conditions deteriorate.
Based on the provided income statement data, non-interest income reached 22.6 million dollars in 2026Q1, representing 19.2 percent of total revenue, which highlights the importance of the Peapack Private wealth management segment in providing a recurring, capital-light revenue stream to supplement traditional banking operations.
The stability of fee income suggests that the wealth management segment acts as a vital hedge against interest rate volatility. However, the reliance on market-linked fees means that the bank's non-interest income remains vulnerable to broader equity market fluctuations, which could impact overall earnings quality.
Quick answers to the most common questions about buying PGC stock.
Peapack-Gladstone Financial Corporation (PGC) is profitable, generating $37.3M in net income for the fiscal year ending 2025 with a net profit margin of 8.5%.
Peapack-Gladstone Financial Corporation (PGC) reported an operating income of $52.3M, resulting in an operating profit margin of 11.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Peapack-Gladstone Financial Corporation (PGC) generated $256.2M in gross profit for the year, representing a gross profit margin of 58.1%. This demonstrates the company's core pricing power and production efficiency.