Peapack-gladstone Financial Corporation · NASDAQ:PGC
Peapack-gladstone Financial — Shareholder Meeting (May 2023)
12 slides from Peapack-gladstone Financial's shareholder meeting presentation, May 3, 2023
Slide 1: Welcome to Our 2023 Annual Meeting
Welcome to Our 2023 Annual Meeting Exhibit 99.1
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: 2022: A Year In Review
2022 was a record year: revenue up 20%; pretax income before provision for loan losses up 35%; net income up 38%; EPS up 43%. Peapack Private Wealth Management had a record year as fee income grew to $55MM and ended the year at $10B AUM/AUA. Gross investment flows topped $1B, a record. Despite marke
Slide 4: Continued Strong Revenue and Profitability Momentum
4 Continued Strong Revenue and Profitability Momentum 2022 +28% YOY (Dollars in thousands, except per share data) +43% YOY *Capital Markets consists of Mortgage Banking, SBA Lending, Corporate Advisory and Back-to-Back Swap fee income. 1 YTD 2022 Adjusted excluded loss on sale of securities due to a
Slide 5: Total Shareholder Return: 2019-2022
Our strong operating performance produced best-in-class strong total shareholder returns. Total Shareholder Return: 2019-2022 5
Slide 6: Peapack Private Wealth Management
AUM/AUA (000s) Fees (000s) Peapack Private Wealth Management 6 $9.9B AUM/AUA 37% EBITDA Margin YTD 2022 18.7% 2017-2022 CAGR $3.5MM Avg Relationship $1B YTD 2022 Gross Inflows
Slide 7: Commercial Banking
Commercial Banking* 7 $2.8B Outstandings 54% of Total Loans $6.8MM SBA Fees YTD $2.2MM Unused LOC Fees YTD (in millions) $1,585 *NOTE: Excludes MFL which totaled $1.9B as of 12/31/2022. $2,100 $2,474 $2,658 $2,537 $2,839 $3.9MM Account Analysis Fees YTD $1.7MM Corporate Advisory Fees YTD 5 Year C&I
Slide 8: Personal Banking
Personal Banking* 8 $325MM average deposits per personal banking location** New York City MSA with branches in 3 of top 15 wealthiest US counties #1 Deposit Growth in Top 10 14% CAGR since 2012 92% Core Unique private banking service model Growth Upside 6% market share in an $89B deposit market *Nat
Slide 9: Q1 2023 Highlights
Core EPS $1.02; ROA 1.18%; ROE 13.64%; ROTE 14.94%. Net interest income is up 11% YOY; NIM down 24 bps on a linked quarter basis. Deposits up $104MM (8% annualized); 92% of total deposits are core. Total available liquidity* of $3.7B. Loans grew $79MM (6% annualized); 42% of loans are C&I; 45% of to
Slide 10: Ample Coverage of Uninsured Deposits
*Source: FFIEC 031 and 041 RC-0 Memo #2 ** Coverage is defined as (Cash + Cash Equivalents + AFS Securities + Borrowing Capacity less Borrowings, Letters of Credit, and Pledged AFS Securities) / Uninsured Deposits Ample Coverage of Uninsured Deposits Deposit Base Details (as of March 31, 2023) 229%
Slide 11: Compelling Investment Considerations
Well-diversified business model. $10.4B AUM/AUA ($55MM annualized revenue) wealth management business. C&I and fee business will drive future growth. Strong balance sheet. Solid asset quality. Attractive geographic franchise. Stable core deposit base. Well-managed expenses. Investment grade ratings
Slide 12: Peapack-Gladstone Financial Corporation
PEAPACK-GLADSTONE FINANCIAL CORPORATION PEAPACK-GLADSTONE BANK Private Banking since 1921
Peapack-Gladstone Financial — Shareholder Meeting (May 2023) on 6ix