Peapack-gladstone Financial Corporation · NASDAQ:PGC
Peapack-gladstone Financial — Q2 2025 Earnings Presentation
29 slides from Peapack-gladstone Financial's earnings presentation, Jul 21, 2025
Slide 1: Investor Update Q2 2025
The Q2 2025 Investor Update should be read in conjunction with the Q2 2025 Earnings Release issued on July 21, 2025. Investor Update Q2 2025 Exhibit 99.2
Slide 2: Positioned for Long-Term Growth and Compelling Returns
Positioned for Long-Term Growth and Compelling Returns Rapidly positioning Peapack Private as the boutique alternative to large banks in the Metro NY region; to date, expansion results have exceeded expectations and pipelines remain strong. We are capitalizing on our affluent geographic market by de
Slide 3: 2nd Quarter Performance Highlights
Delivered positive operating leverage for the third consecutive quarter1. Net interest income grew $2.8MM (24% annualized) on a linked-quarter basis and $13.2MM (38%) year-over-year, driven by core relationship growth and a favorable deposit mix. Net interest margin increased 9 basis points on a lin
Slide 4: Quarterly Financial Results
Quarterly Financial Results Delivering Positive Operating Leverage and Strong NII Growth See page 23 for notes and important information. + 38% YoY + 32% YoY
Slide 5: Net Interest Income
Net Interest Income A Growing Core Deposit Base is Leading to Favorable Income & Margin Expansion Net interest income has grown in each of the last six quarters, driven by successful core deposit growth from both NJ and NY teams combined with rate cuts. NII increased $2.8MM (24% annualized) on a lin
Slide 6: Excellent Year-over-Year Earnings Trajectory
Excellent Year-over-Year Earnings Trajectory 12-month Lookback on Earnings Performance See page 23 for notes and important information. + 38% YoY + 20% YoY + 32% YoY
Slide 7: Strong Private Banking Business Model
Strong Private Banking Business Model Total Solutions Under Management 2.5 Year Compounded Annual Growth Rates: AUM/AUA = 9% Deposits = 8% Total Loans = 4%
Slide 8: Our Expansion has Added Significant Scale to our New York Presence
Our Expansion has Added Significant Scale to our New York Presence 700+ Relationships $464MM Outstanding Loans Onboarding fully-banked core relationships. Average relationship size $1.9MM. Vast majority of clients utilize our Treasury Management platform. $464MM of outstanding loans plus an addition
Slide 9: Balance Sheet Transformation
Balance Sheet Transformation Consistent Growth of High-Quality Funding Base Noninterest-bearing deposits grew $53MM (4%) in Q2 and $125MM (11%) year-to-date. We successfully onboarded over 1,650 accounts totaling $282MM (35% noninterest-bearing) at a weighted average cost of 1.88% in Q2, off-setting
Slide 10: Deposit Trends
Deposit Trends Consistent Growth at a Favorable Mix Total deposits increased $707MM (12%) over the last twelve months at a favorable mix. Noninterest-bearing deposits increased $53MM in Q2 and are up $287MM (30%) over the last twelve months. Significant core deposit growth continues to reduce relian
Slide 11: Wealth Management Delivering Consistently Strong Operating Performance
Wealth Management Delivering Consistently Strong Operating Performance AUM/AUA (in billions) Record Level $12.3B AUM/AUA 11% Revenue CAGR1 36% EBITDA Margin 2024 FY $4.3MM Average Relationship $537MM 2025 YTD New Business Inflows See page 23 for notes and important information. Revenue (millions) $3
Slide 12: Established Private Banking Business Model
Established Private Banking Business Model Considerable Scarcity Value & Implied Valuation Upside See page 23 for notes and important information.
Slide 13: Stable Fee Revenue Driven by Wealth Management
Stable Fee Revenue Driven by Wealth Management See page 23 for notes and important information. $21 $22 $19 $19 $20 (in millions) 1
Slide 14: Diversified Lending Business
Diversified Lending Business Loan Mix as of 6/30/2025 Gross Loans1: $5.82 billion See page 23 for notes and important information. Diversified across 345+ NAICS Codes
Slide 15: Commercial & Industrial Banking
Commercial & Industrial Banking Mature and Growing Core Competency See page 23 for notes and important information. (in billions) 10% Compound Annual Growth Rate1
Slide 16: Year-to-Date Lending Activity
Year-to-Date Lending Activity Strong Risk-Reward Profile See page 23 for notes and important information. $796 million of loan originations1 year-to-date resulted in net growth of $304MM. Originations carried strong credit metrics from both a collateral and borrower/guarantors' perspective. Leading
Slide 17: Fixed Rate Loan Repricing
Fixed Rate Loan Repricing Favorable Net Interest Income Expansion Opportunity
Slide 18: Credit Metrics
Credit Metrics NY Rent Regulated Multifamily Continues to face Headwinds 30-89 Days Past Due / Gross Loans NPAs / Assets Multifamily 30-89 days past due totaled $12MM or < 1% of the total Multifamily portfolio Multifamily NPAs totaled $56MM or 3% of the total Multifamily portfolio (6 sponsors)
Slide 19: New York Rent Regulated Multifamily Portfolio
New York Rent Regulated Multifamily Portfolio Of 125 sponsors, 5 are currently in foreclosure. Low cost-basis for majority of properties motivates to meet cash flow shortfalls. We are actively engaged with sponsors; enhanced monitoring continues across the portfolio. New originations are focused on
Slide 20: Personal Banking Expansion into NYC
Personal Banking Expansion into NYC with a Positive Track Record of Successfully Competing against Large Banks Growing New Jersey market share in a shrinking market, continuing to outperform peers NYC4 Deposit Market $2.8 trillion See page 23 for notes and important information. Key Statistics Natur
Slide 21: Forward-Looking Statements
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 expectations about financial results, new and existing
Slide 22: Appendix
PEAPACK-GLADSTONE FINANCIAL CORPORATION PEAPACK PRIVATE Bank & Trust Appendix J A -
Slide 23: Notes
Notes 2nd Quarter Performance Highlights slide Operating Leverage is defined as the percentage change in total revenue less the percentage change in operating expense. Incremental spread is defined as the weighted average loan coupon of loans originated in the period less the average cost of newly f
Slide 24: Balance Sheet & AUM/AUA Summary
Balance Sheet & AUM/AUA Summary
Slide 25: Asset Quality
Asset Quality 1) Amounts reflect modifications that are paying according to modified terms. 2) Excludes modifications included in nonaccrual loans of $38.1 million at June 30, 2025, $3.6 million at December 31, 2024, and $3.2 million at June 30, 2024. 3) Excludes a provision of $9,000 at June 30, 20
Slide 26: Capital Summary
Capital Summary 1) Tangible equity and tangible assets are calculated by excluding the balance of intangible assets from shareholders’ equity and total assets, respectively. Tangible equity as a percentage of tangible assets at period end is calculated by dividing tangible equity by tangible assets
Slide 27: Quarterly Income Statement Summary
Quarterly Income Statement Summary 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.
Slide 28: Quarterly Non-GAAP Financial Measures Reconciliation
Quarterly Non-GAAP Financial Measures Reconciliation We believe that these non-GAAP financial measures provide information that is important to investors and that is useful in understanding our financial position, results and ratios. Our management internally assesses our performance based, in part,
Slide 29: Contacts
500 Hills Drive, Suite 300 P.O. Box 700 Bedminster, New Jersey 07921 (908) 234-0700 peapackprivate.com Douglas L. Kennedy President & Chief Executive Officer (908) 719-6554 dkennedy@peapackprivate.com Frank A. Cavallaro Senior EVP & Chief Financial Officer (908) 306-8933 fcavallaro@peapackprivate.co
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