Peapack-gladstone Financial Corporation · NASDAQ:PGC
Peapack-gladstone Financial — Shareholder Meeting (May 2022)
12 slides from Peapack-gladstone Financial's shareholder meeting presentation, May 4, 2022
Slide 1: Welcome to Our 2022 Annual Meeting
Welcome to Our 2022 Annual Meeting Exhibit 99.199.1
Slide 2: Statement Regarding Forward-Looking Information
Statement Regarding Forward-Looking Information This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and may include expressions about Management’s strategies and Management’s expect
Slide 3: 2021: A Year In Review
2021 was a record year: revenue up 11%; pretax income before provision for loan losses up 31%; net income up 116%. Peapack Private Wealth Management had a record year as income grew $12MM or 30% and ended the year at $11.1B in AUM/AUA. Total fee income grew $17MM or 31% (excluding PPP gains) to a re
Slide 4: Positive Operating Leverage Drives Solid Returns 2021
Positive Operating Leverage Drives Solid Returns 2021 4 *Capital Markets consists of Mortgage Banking, SBA Lending, Corporate Advisory and Back-to-Back Swap fee income. 1 Adjusted Year Ended 2021 excludes gain on sale of PPP loans completed in Q2 2021 and PPP referral income received in Q2 2021. Adj
Slide 5: Peapack Private Wealth Management At A Glance
AUM/AUA (000s) Fees (000s) Peapack Private Wealth Management At A Glance 5 $11.1B AUMs/AUAs 38% EBITDA Margin 2,700 Relationships 23% Revenue 4-yr CAGR $4.2MM Avg Relationship $840MM 2021 Gross Inflows
Slide 6: Commercial Banking At A Glance
Commercial Banking At A Glance (Excludes MFL and PPP*) 6 $2.7B Y/E Outstandings <1% Construction Exposure $4.9MM SBA Fees 55% of Total Loans $3.5MM Corp Advisory Fee Income (in millions) $1,585 14% 4-yr CAGR *MFL equals $1.6B as of 12/31/2021 and PPP equals $14MM as of 12/31/2021. $2,100 $2,474 $2,6
Slide 7: Net Interest Margin Improved in 2021 and Will Expand with Rising Rates
NIM (as reported) (%) 7 Net Interest Margin Improved in 2021 and Will Expand with Rising Rates 1-Month Libor @ Period End 0.144% 0.111% 0.101% 0.080% 0.101% Net Interest Income expected to benefit 2% in Year 1 and 8.5% in Year 2 from a +200 bps rate increase (assumes 45% deposit beta). 38% of loans
Slide 8: Personal Banking At A Glance
8 $265MM Avg Branch Deposits Operate in 3 of the top 15 most affluent counties in the U.S. Branch locations and Platinum Service Teams providing “white glove” service Digital banking platform that facilitates flexible service channels 90% Core Deposits Personal Banking At A Glance $2,903 $3,069 $3,3
Slide 9: Q1 2022 Highlights
Adjusted: EPS $1.02; ROA 1.25%; ROE 14.19%; ROTE 15.58%. Net interest margin up 23 bps linked quarter. Positioned positively for additional rate hikes – 38% of loans reprice within 3 months and 50% within 1 year. Loans increased $305MM or 6.3% during the quarter. Growth partially funded through a ba
Slide 10: PGC's Valuation vs. Wealth Management Peers Indicates Significant Upside
10 PGC’s Valuation vs. Wealth Management Peers Indicates Significant Upside Share Price Potential Note: Pricing data as of 04/19/2022; TBV as reported for the period ended 12/31/2021 and not pro forma for pending acquisitions. Wealth Management Institutions: UVSP – Univest Financial Corp., CATC – Ca
Slide 11: Current TBV multiple lags wealth management peers
Current TBV multiple lags wealth management peers providing potential share price appreciation. $10.7B AUM/AUA ($59MM annualized revenue) wealth management business with significant value. Wealth management, commercial banking and capital markets activities provide diverse and stable revenue streams
Slide 12: Q&A 2022 Annual Meeting
PEAPACK-GLADSTONE FINANCIAL CORPORATION Q&A 2022 Annual Meeting Pearack-GLapstone BANK 1@> 100 Years oF InreGRity & Trust M1
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