Peapack-Gladstone Financial Declares $0.05 Quarterly Dividend
Peapack-Gladstone Financial Corp (NASDAQ: PGC), a New Jersey-based commercial bank, declared a $0.05 per share quarterly cash dividend. The dividend is payable May 21, 2026 to shareholders of record as of May 7, 2026.
Peapack-Gladstone Financial Corp (NASDAQ: PGC), a New Jersey commercial bank and wealth management firm, declared a quarterly cash dividend of $0.05 per share on March 26, 2026. The dividend will be paid on May 21, 2026 to shareholders of record as of May 7, 2026. Read more dividend announcements.
The bank holding company, which operates Peapack Private Bank & Trust, reported total assets of $7.7 billion and assets under management and administration of $13.1 billion as of March 31, 2026.
| Dividend Details | Date |
|---|---|
| Amount per Share | $0.05 |
| Record Date | May 7, 2026 |
| Payment Date | May 21, 2026 |
| Declaration Date | March 26, 2026 |
Capital Restructuring
The company strengthened its capital position during the first quarter of 2026 through a series of transactions. Peapack-Gladstone redeemed $100.0 million of subordinated debt and completed a private placement of $30.0 million of 6.00% Series B Non-Cumulative Convertible Preferred Stock in March. The preferred equity issuance replaced a portion of the redeemed debt while improving the quality of the capital base and enhancing financial flexibility.
Tangible book value per share increased 14% to $37.02 at March 31, 2026 from $32.56 a year earlier. Book value per share rose 13% to $39.48 from $35.08 over the same period.
Regulatory Capital
The company and its bank subsidiary maintained strong regulatory capital ratios as of March 31, 2026. The Tier 1 Leverage Ratio stood at 9.24% for the holding company and 9.02% for the bank. The Common Equity Tier 1 Ratio measured 10.55% for the company and 10.77% for the bank, both well above regulatory well-capitalized standards.
Asset Quality
During the first quarter of 2026, the bank charged off five commercial and industrial loans totaling $8.3 million and liquidated one commercial loan with a balance of $9.6 million. Specific reserves of $5.8 million related to these charge-offs had been established in prior periods.
Founded in 1921, Peapack Private Bank & Trust offers commercial banking, wealth management, investment banking, and retail solutions. The bank's wealth management division serves individuals, families, privately held businesses, family offices, and not-for-profit organizations.