Peapack-gladstone Financial Corporation · NASDAQ:PGC
Peapack-gladstone Financial — Shareholder Meeting (May 2024)
15 slides from Peapack-gladstone Financial's shareholder meeting presentation, May 1, 2024
Slide 1: Welcome to Our 2024 Annual Meeting
Welcome to Our 2024 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: Continuing to Invest & Create Value in our Private Banking Model
Continuing to Invest & Create Value in our Private Banking Model 3
Slide 4: Actions taken to date and recent investments
Actions taken to date. Recruited and hired proven private banking teams Experienced leader with 10+ production and client service teams hired in 2024 Operations (Deposits, Treasury Management, Escrow), Residential Lending, Compliance, Credit, Community Development Flagship NYC office being construct
Slide 5: Stable Deposits, Liquidity & Capital
* Total available liquidity defined as Cash + Cash Equivalents + AFS Securities + Borrowing Capacity less Borrowings, Letters of Credit, and Pledged AFS Securities. ** (Cash + Cash Equivalents + AFS Securities) / Total Assets. *** Tangible equity and tangible assets are calculated by excluding the b
Slide 6: Wealth Management
AUM/AUA (in millions) Fees (in millions) 6 $10.9B AUM/AUA 32% EBITDA Margin 16% 6-Year Revenue CAGR $3.8MM Average Relationship $948MM 2023 Gross Inflows Wealth Management
Slide 7: Established Private Banking Business Model
1 Fiduciary revenue: Last Twelve Months (Gross income from services rendered by the institutions trust department or by any of its consolidated subsidiaries acting in any fiduciary capacity). 2 Total revenue: Last Twelve Months (Total Revenue = Net Interest Income (Pre-Provision) + Total Noninterest
Slide 8: Commercial Banking
8 $2.9B Outstandings 54% of Total Loans Diversified C&I continues to be our area of focus for future growth (in millions) $1.6B *Commercial banking includes CRE loans and Commercial and industrial loans. CRE excludes MFL, which totaled $1.8B as of 12/31/2023. $2.1B $2.5B $2.7B $2.5B $2.8B $220M Aver
Slide 9: Multifamily Loan Portfolio
9 Multifamily Portfolio Balance % (in millions) NY (Rent Regulated) $941 51.3% NY (Market Rent) $70 3.8% NJ (Rent Regulated) $350 19.1% NJ (Market Rent) $223 12.1% PA (Rent Regulated) $10 0.5% PA (Market Rent) $242 13.2% TOTAL $1,836 100.0% Rent Regulated $1,301 70.9% Market Rent $535 29.1% TOTAL $1
Slide 10: Refinance Risk within Multifamily
10 (in millions) Refinance Risk within Multifamily 6% of Loans Resetting or Maturing through 2025
Slide 11: Personal Banking Successfully Competing Against Large Banks
11 *Natural Market Area defined within boundaries in map as geography within 5 miles of all branch locations. **Total Loans as of 3/31/2024. Market share data source: S&P Capital IQ Pro – June 30, 2023 FDIC Data. Deposit Market Area defined as 5 Mile Proximity from all PGC Branch Offices. ^ Citizens
Slide 12: Balance Sheet and Earnings Highlights
Balance Sheet Liquidity profile strengthened; Deposits increased $203MM in the quarter; Borrowings decreased $284MM. Total available liquidity increased $174MM on a linked quarter basis to $3.7B*. Loan-to-Deposit Ratio declined to 98%. Allowance for credit losses increased 3 basis points to 1.24% of
Slide 13: Quarterly Results
13 *Capital Markets consists of Mortgage Banking, SBA Lending, Corporate Advisory and Back-to-Back Swap fee income. 1 Return on average tangible common equity is calculated by dividing tangible common equity by annualized net income. See Non-GAAP financial measures reconciliation table. (Dollars in
Slide 14: Compelling Investment Considerations
Attractive geographic franchise enhanced by our NYC expansion. Continuous investment in human capital, products, and technology. Well-diversified business model. Desirable $11.5B AUM/AUA wealth management business. Deposit, C&I, and fee business well-positioned to deliver future growth. Strong balan
Slide 15: Peapack-Gladstone Financial Corporation
PEAPACK-GLADSTONE FINANCIAL CORPORATION PEAPACK-GLADSTONE BANK Private Banking since 1921 PEAPACK PRIVATE
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