Peapack-gladstone Financial Corporation · NASDAQ:PGC
Peapack-gladstone Financial — Q3 2025 Earnings Presentation
24 slides from Peapack-gladstone Financial's earnings presentation, Oct 22, 2025
Slide 1: Investor Update Q3 2025
The Q3 2025 Investor Update should be read in conjunction with the Q3 2025 Earnings Release issued on October 22, 2025. Investor Update Q3 2025 Exhibit 99.2
Slide 2: Peapack Private: The Premier Alternative to the Mega Banks in Metropolitan New York
Bedminster New York City Melville NEW YORK NEW JERSEY CONNECTICUT PENNSYLVANIA Greenville Rye Brook Princeton Morristown Summit Red Bank Lakewood Teaneck DE Peapack Private Bank & Trust Financial Centers Garden City Peapack Private The Premier Alternative to the Mega Banks in Metropolitan New York $
Slide 3: Third Quarter 2025 Highlights
EPS increased by 20% QoQ to $0.54 NII grew for a seventh consecutive quarter, up 5% QoQ and 35% YoY, resulting in a NIM of 2.81% Incremental spread on new production YTD remains very strong at 4.38%2 Core earnings are growing over consecutive quarters due to strong NII expansion and operating expens
Slide 4: Quarterly Earnings Results
Quarterly Earnings Results Consistently Delivering Positive Operating Leverage & Core Earnings Growth Key Observations Demonstrating our ability to digest significant investments over a short period of time, absorbed a 17% increase in operating expenses over the last twelve months while delivering c
Slide 5: Excellent Earnings Trajectory
Excellent Earnings Trajectory Key Observations Year-over-year earnings performance demonstrates positive operating leverage as we absorbed a 20% increase in operating expenses, delivering a 33% increase in core earnings. Consistent revenue growth, driven by net interest income. Anchored by a $12.9 b
Slide 6: Deposit Trends
Deposit Trends Consistently Strong Growth at a Favorable Mix Key Trends & Impacts Significant core deposit growth has eliminated reliance on borrowings and brokered deposits. Total deposits have increased $627 million (11%) over the last twelve months. Core relationship deposits1 have increased $708
Slide 7: Loan Trends
Loan Trends Consistent Growth Focused on Our Strengths Key Trends & Impacts Loan production remained strong in Q3 with net growth of $203 million, largely in C&I. Management continues to focus on scaling our core C&I competency, including Equipment Finance, with less reliance on Multifamily. C&I is
Slide 8: Incremental Spread
Incremental Spread Strong Balance Sheet Growth Rates at Superior Margins Key Trends & Impacts Newly funded deposit and loan origination growth rates have been strong throughout 2025. The incremental spread3 on a year-to-date basis is 4.38%, leading to NIM expansion. Loan originations carried strong
Slide 9: Net Interest Income
Net Interest Income Consistently Delivering Positive Operating Leverage & NII Growth Key Observations Seventh consecutive quarter of net interest income growth, driven by successful core deposit growth from both NY and NJ teams. NII increased by $2.3 million (5%) quarter-over-quarter, up $12.9 milli
Slide 10: Stable Fee Revenue Driven by Wealth Management
Stable Fee Revenue Driven by Wealth Management Key Observations Fee income has been stable at $19 million to $21 million per quarter over the past five quarters. Anchored by a stable wealth management franchise, fee income as a percentage of total revenue remains a strength at 28%. $19 $20 $19 $21 $
Slide 11: Wealth Management: The Foundation of Our Private Banking Strategy
Wealth Management The Foundation of Our Private Banking Strategy Performance Insights Sustained Long-Term Growth Track record of sustained long-term growth, achieving an 11% CAGR over the past six years and 14% CAGR over the past decade. Strength and Scalability Market leaders; achieved a record $12
Slide 12: Balance Sheet Strength
Balance Sheet Strength A Rapidly Improving Liquidity Profile By the Numbers No borrowings or brokered deposits. Core relationship deposit1 growth continues to transform the balance sheet (up $708 million year-to-date) and now equal to 100% of total loans. Liquidity is strong at 92% loan-to-deposit r
Slide 13: Improvement in Credit Quality
Improvement in Credit Quality 30-89 Days Past Due / Gross Loans NPAs / Assets Key Observations Strong earnings performance has allowed us to aggressively address problem credits while delivering continued improvement in both EPS and TBVPS. Reduction of $31MM in nonperforming loans in Q3. ACL Coverag
Slide 14: Positioned for Long-Term Growth & Compelling Returns
Positioned for Long-Term Growth & Compelling Returns Moody’s affirmed our investment grade rating with a stable outlook during the third quarter. Peapack Private is the boutique alternative to large banks in the Metro NY region; to date, expansion results have exceeded expectations and pipelines rem
Slide 15: 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 16: Appendices
Appendices
Slide 17: Notes
Notes Third Quarter 2025 Highlights slide See Non-GAAP Financial Measurement Reconciliation included in these appendices. Incremental spread is defined as the weighted average loan coupon of loans originated in the period less the average cost of newly funded deposit accounts for the same period. Op
Slide 18: Balance Sheet & AUM/AUA Summary
Balance Sheet & AUM/AUA Summary
Slide 19: Asset Quality
Asset Quality 1) Amounts reflect modifications that are paying according to modified terms. 2) Excludes modifications included in nonaccrual loans of $37.6 million at September 30, 2025, $3.6 million at December 31, 2024 and $3.7 million at September 30, 2024. 3) Excludes a credit of $81,000 at Sept
Slide 20: 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 quarter end is calculated by dividing tangible equity by tangible assets
Slide 21: Quarterly Income Statement
Quarterly Income Statement 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 22: Non-GAAP Financial Measurement Reconciliation
Non-GAAP Financial Measurement 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, on the
Slide 23: Non-GAAP Financial Measurement Reconciliation
Non-GAAP Financial Measurement 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, on the
Slide 24: Contacts
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.com CONTACTS John P. Babcock Senior EVP & President of Peapack Private Wealth Management (908) 719-3301 j
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