# EDGAR Filing Document

**Accession Number:** 0001050743
**File Stem:** 0001193125-25-246931
**Filing Date:** 2025-10
**Character Count:** 96563
**Document Hash:** c856796b78084ffc068ef5f780d898cf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-246931.hdr.sgml**: 20251022

**ACCESSION NUMBER**: 0001193125-25-246931

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20251022

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251022

**DATE AS OF CHANGE**: 20251022

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PEAPACK GLADSTONE FINANCIAL CORP
- **CENTRAL INDEX KEY:** 0001050743
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 223537895
- **STATE OF INCORPORATION:** NJ
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-16197
- **FILM NUMBER:** 251410647

**BUSINESS ADDRESS:**
- **STREET 1:** 500 HILLS DRIVE
- **CITY:** BEDMINSTER
- **STATE:** NJ
- **ZIP:** 07921
- **BUSINESS PHONE:** 9082340700

**MAIL ADDRESS:**
- **STREET 1:** 500 HILLS DRIVE
- **CITY:** BEDMINSTER
- **STATE:** NJ
- **ZIP:** 07921

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**____________**

**FORM** 8-K

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

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| | |
|:---|:---|
| &nbsp;&nbsp;**Date of report (Date of earliest event reported)** | &nbsp;&nbsp;October 22, 2025 |

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PEAPACK-GLADSTONE FINANCIAL CORPORATION

**(Exact Name of Registrant as Specified in Charter)**

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;New Jersey | &nbsp;&nbsp;001-16197 | &nbsp;&nbsp;22-3537895 |
| &nbsp;&nbsp;**(State or Other Jurisdiction** | &nbsp;&nbsp;**(Commission** | &nbsp;&nbsp;**(I.R.S. Employer** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**of Incorporation)** | &nbsp;&nbsp;**File Number)** | &nbsp;&nbsp;**Identification No.)** |

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| | |
|:---|:---|
| &nbsp;&nbsp;500 Hills Drive, Suite 300, Bedminster, New Jersey | &nbsp;&nbsp;07921 |
| &nbsp;&nbsp;**(Address of Principal Executive Offices)** | &nbsp;&nbsp;**(Zip Code)** |

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| | |
|:---|:---|
| &nbsp;&nbsp;**Registrant's telephone number, including area code** | &nbsp;&nbsp;(908) 234-0700 |

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Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, no par value | PGC | The NASDAQ Stock Market, LLC |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).

Emerging growth company ☐

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act. ☐

**INFORMATION TO BE INCLUDED IN THE REPORT**

**Item 2.02 Results of Operations and Financial Condition.**

On October 22, 2025, Peapack-Gladstone Financial Corporation (the "Company") issued a press release reporting earnings and other financial results for the three and nine months ended September 30, 2025. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated by reference in its entirety.

The information disclosed under this Item 2.02, including Exhibit 99.1, shall be considered "furnished" but not "filed" for purposes of the Securities Exchange Act of 1934, as amended.

**Item 7.01 Regulation FD Disclosure.**

The Company is furnishing presentation materials included as Exhibit 99.2 to this report. The Company is not undertaking to update this presentation. The information in this report (including Exhibit 99.1) is being furnished pursuant to Item 7.01 and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. This report will not be deemed an admission as to the materiality of any information herein (including Exhibit 99.2).

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| Exhibit No. | Title |
| 99.1 | [<u>Press Release dated October 22, 2025.</u>](pgc-ex99_1.htm) |
| 99.2 | [<u>Investor Presentation used by the Company for the third quarter of 2025</u>](pgc-ex99_2.htm). |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | PEAPACK-GLADSTONE FINANCIAL CORPORATION | PEAPACK-GLADSTONE FINANCIAL CORPORATION |
| Dated: October 22, 2025 | By: | /s/ Frank A. Cavallaro |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frank A. Cavallaro | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frank A. Cavallaro |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Executive Vice President and Chief Financial Officer | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Executive Vice President and Chief Financial Officer |

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## Exhibit 99.1

**Exhibit 99.1**

**Contact:**

Frank A. Cavallaro, SEVP and CFO

Peapack-Gladstone Financial Corporation

T: 908-306-8933

**PEAPACK-GLADSTONE FINANCIAL CORPORATION** 

**REPORTS THIRD QUARTER FINANCIAL RESULTS** 

**Bedminster, N.J. – October 22, 2025 –** Peapack-Gladstone Financial Corporation (**NASDAQ Global Select Market: PGC**) (the "Company") announces its third quarter 2025 financial results.

***This earnings release should be read in conjunction with the Company's Q3 2025 Investor Update, a copy of which is available on our website at*** www.peapackprivate.com ***and via a Current Report on Form 8-K on the website of the Securities and Exchange Commission at <u>www.sec.gov</u>.*** 

The Company recorded net income of $9.6 million and diluted earnings per share ("EPS") of $0.54 for the quarter ended September 30, 2025, which is an increase of 21%, compared to net income of $7.9 million and diluted EPS of $0.45 for the quarter ended June 30, 2025.

Through the first nine months of the year, deposits grew $433 million, or 7%, to $6.6 billion as of September 30, 2025. Core relationship deposits increased $708 million during the nine months ended September 30, 2025 with noninterest-bearing deposits increasing by $211 million, or 19%, during this period. The deposit growth funded $506 million of loan growth at a weighted average coupon of 6.75%, resulting in an incremental spread of more than 400 basis points through the first nine months of 2025.

Net interest income increased $2.3 million, or 5%, on a linked quarter basis to $50.6 million for the third quarter of 2025 compared to $48.3 million for the second quarter of 2025. The growth in net interest income was driven by improvement in the yield on average interest earning assets, as well as continued improvement in the net interest margin. The net interest margin ("NIM") increased to 2.81% for the quarter ended September 30, 2025 compared to 2.77% for the quarter ended June 30, 2025 and 2.34% for the quarter ended September 30, 2024.

"We continue to make significant progress with our Metro New York expansion," said Douglas L. Kennedy, President and CEO. "Over the past two years, our newly hired teams have onboarded more than 850 new client relationships, adding over $1.75 billion in core relationship deposits and more than $900 million in new loans. This momentum has enabled us to deliver a fourth consecutive quarter of positive operating leverage, grow core earnings by 54% over the last twelve months, drive improvement in earnings per share and tangible book value per share, all while absorbing significant investments in our expansion efforts."

"We continued to add talented professionals in the third quarter as we expanded our equipment finance group by adding an experienced team in Long Island. We also hired three New York-based wealth advisors to take advantage of our growing presence in that market. Our transformation into Peapack Private Bank & Trust reflects our evolution toward becoming the premier boutique private bank serving Metro New York," stated Mr. Kennedy.

Mr. Kennedy also noted, "With strong earnings momentum, we aggressively addressed problem credits as nonperforming assets declined by $31 million in the quarter. Going forward we will continue to actively manage other problem assets with a focus on capital preservation."

The following are select highlights for the period ended September 30, 2025:

**<u>Wealth Management:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•AUM/AUA in our Wealth Management Division grew by $1.0 billion to $12.9 billion at September 30, 2025 compared to $11.9 billion at December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•New business inflows for Q3 2025 totaled $214 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Wealth Management fee income was $15.8 million in Q3 2025, which amounted to 22% of total revenue for the quarter.

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**<u>Commercial Banking and Balance Sheet Management:</u>** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Total loans increased $506 million to $6.0 billion at September 30, 2025 from $5.5 billion at December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Commercial and industrial lending ("C&I") accounted for 69% of the new business originations during the third quarter. C&I balances represented 44% of the total loan portfolio at September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Total deposits increased by $433 million, to $6.6 billion at September 30, 2025 compared to $6.1 billion at December 31, 2024. Noninterest-bearing demand deposits grew $86 million during the third quarter, and represented 20% of total deposits as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Fee income on unused commercial lines of credit totaled $825,000 for Q3 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The NIM expanded to 2.81% for Q3 2025, an increase of 4 basis points compared to 2.77% for Q2 2025.

**<u>Capital Management:</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Tangible book value per share increased 7% to $34.10 per share at September 30, 2025 compared to $31.89 at December 31, 2024. Book value per share increased 6% to $36.62 per share at September 30, 2025 compared to $34.45 at December 31, 2024. Tangible book value per share is a non-GAAP financial measure. See the reconciliation tables included in this release for further detail.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•At September 30, 2025, the Tier 1 Leverage Ratio was 9.89% for Peapack Private Bank & Trust (the "Bank") and 8.86% for the Company. The Common Equity Tier 1 Ratio was 11.70% for the Bank and 10.47% for the Company at September 30, 2025. These ratios remain significantly above well capitalized standards, as capital continues to benefit from net income generation.

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**<u>SUMMARY INCOME STATEMENT DETAILS:</u>**

The following tables summarize specified financial details for the periods shown.

**September 2025 Quarter Compared to Prior Year**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nine Months Ended** | **Nine Months Ended** |  |  |
|  | **September 30,** | **September 30,** | **Increase/** | **Increase/** |
| **(Dollars in millions, except per share data) (unaudited)** | **2025** | **2024** | **(Decrease)** | **(Decrease)** |
| Net interest income | $144.37 | $107.10 | $37.27 | 35% |
| Wealth management fee income | 47.18 | 45.98 | 1.20 | 3 |
| Capital markets activity | 2.16 | 2.30 | (0.14) | (6) |
| Other income | 11.09 | 10.91 | 0.18 | 2 |
| Total other income | 60.43 | 59.19 | 1.24 | 2 |
| Total Revenue | 204.80 | 166.29 | 38.51 | 23% |
| Operating expenses | 153.63 | 127.82 | 25.81 | 20 |
| Pretax income before provision for credit losses | 51.17 | 38.47 | 12.70 | 33 |
| Provision for credit losses | 15.85 | 5.76 | 10.09 | 175 |
| Pretax income | 35.32 | 32.71 | 2.61 | 8 |
| Income tax expense | 10.15 | 8.96 | 1.19 | 13 |
| Net income | $25.17 | $23.75 | $1.42 | 6% |
| Diluted EPS | $1.42 | $1.34 | $0.08 | 6% |
| Return on average assets | 0.47% | 0.49% | (0.02) |  |
| Return on average equity | 5.41% | 5.42% | (0.01) |  |

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**September 2025 Quarter Compared to Prior Year Quarter**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |  |  |
|  | **September 30,** | **September 30,** | **Increase/** | **Increase/** |
| **(Dollars in millions, except per share data) (unaudited)** | **2025** | **2024** | **(Decrease)** | **(Decrease)** |
| Net interest income | $50.57 | $37.68 | $12.89 | 34% |
| Wealth management fee income | 15.80 | 15.15 | 0.65 | 4 |
| Capital markets activity | 0.90 | 0.44 | 0.46 | 105 |
| Other income | 3.42 | 3.35 | 0.07 | 2 |
| Total other income | 20.12 | 18.94 | 1.18 | 6 |
| Total Revenue | 70.69 | 56.62 | 14.07 | 25% |
| Operating expenses | 52.30 | 44.65 | 7.65 | 17 |
| Pretax income before provision for credit losses | 18.39 | 11.97 | 6.42 | 54 |
| Provision for credit losses | 4.79 | 1.22 | 3.57 | 293 |
| Pretax income | 13.60 | 10.75 | 2.85 | 27 |
| Income tax expense | 3.97 | 3.16 | 0.81 | 26 |
| Net income | $9.63 | $7.59 | $2.04 | 27% |
| Diluted EPS | $0.54 | $0.43 | $0.11 | 26% |
| Return on average assets annualized | 0.53% | 0.46% | 0.07 |  |
| Return on average equity annualized | 6.12% | 5.12% | 1.00 |  |

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 **September 2025 Quarter Compared to Linked Quarter**

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |  |  |
|  | **September 30,** | **June 30,** | **Increase/** | **Increase/** |
| **(Dollars in millions, except per share data) (unaudited)** | **2025** | **2025** | **(Decrease)** | **(Decrease)** |
| Net interest income | $50.57 | $48.29 | $2.28 | 5% |
| Wealth management fee income | 15.80 | 15.94 | (0.14) | (1) |
| Capital markets activity | 0.90 | 0.80 | 0.10 | 13 |
| Other income | 3.42 | 4.71 | (1.29) | (27) |
| Total other income | 20.12 | 21.45 | (1.33) | (6) |
| Total Revenue | 70.69 | 69.74 | 0.95 | 1% |
| Operating expenses | 52.30 | 51.89 | 0.41 | 1 |
| Pretax income before provision for credit losses | 18.39 | 17.85 | 0.54 | 3 |
| Provision for credit losses | 4.79 | 6.59 | (1.80) | (27) |
| Pretax income | 13.60 | 11.26 | 2.34 | 21 |
| Income tax expense | 3.97 | 3.32 | 0.65 | 20 |
| Net income | $9.63 | $7.94 | $1.69 | 21% |
| Diluted EPS | $0.54 | $0.45 | $0.09 | 20% |
| Return on average assets annualized | 0.53% | 0.45% | 0.08 |  |
| Return on average equity annualized | 6.12% | 5.11% | 1.01 |  |

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**<u>SUPPLEMENTAL QUARTERLY DETAILS</u><u>:</u>**

**Wealth Management** 

AUM/AUA in the Bank's Wealth Management Division increased to $12.9 billion at September 30, 2025 compared to $11.9 billion at December 31, 2024. For the September 2025 quarter, the Wealth Management Team generated $15.8 million in fee income, compared to $15.9 million for the June 30, 2025 quarter and $15.2 million for the September 2024 quarter.

John Babcock, President of the Bank's Wealth Management Division, noted, "Q3 2025 saw continued strong client inflows driven by new accounts and client additions of $214 million. Our new business pipeline is healthy, and we continue to remain focused on delivering excellent service and advice to our clients. Our highly skilled wealth management professionals, our fiduciary powers and expertise, and our financial planning capabilities combined with our high-touch client service model distinguishes us in our market and continues to drive our growth and success."

**Loans / Commercial Banking** 

Total loans increased $506 million, or 9%, to $6.0 billion at September 30, 2025, compared to $5.5 billion at December 31, 2024, primarily driven by commercial and industrial loan originations during the quarter. C&I growth was driven by business expansion and capital investment. Total C&I loans and leases at September 30, 2025 were $2.7 billion or 44% of the total loan portfolio.

Mr. Kennedy noted, "We are proud to have built a leading middle-market commercial banking franchise, as evidenced by our C&I loan portfolio and complimented by Treasury Management services, Corporate Advisory and SBA businesses. These business lines fit perfectly with our private banking business model and will continue to generate solid production going forward. During the current year, we have originated loans that carried an average spread of more than 425 basis points above our current cost of funds."

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**Net Interest Income (NII)/Net Interest Margin (NIM)**

The Company's NII of $50.6 million and NIM of 2.81% for Q3 2025 increased $2.3 million and four basis points from NII of $48.3 million and NIM of 2.77% for the linked quarter (Q2 2025) and increased $12.9 million and 47 basis points from NII of $37.7 million and NIM of 2.34% compared to the prior year period (Q3 2024). Our single point of contact private banking strategy and New York City expansion continues to deliver lower-cost core deposit relationships resulting in consistent improvement in our net interest margin.

**Funding / Liquidity / Interest Rate Risk Management**

Total deposits increased $433 million to $6.6 billion at September 30, 2025 from $6.1 billion at December 31, 2024. The growth in deposits strengthened balance sheet liquidity and reduced reliance on outside borrowings and other non-core funding sources. There were no outstanding overnight borrowings at September 30, 2025.

At September 30, 2025, the Company's balance sheet liquidity (investments available for sale, interest-earning deposits and cash) totaled $1.1 billion, or 15% of total assets. The Company maintains additional liquidity resources of approximately $3.8 billion through secured available borrowing facilities with the Federal Home Loan Bank and the Federal Reserve Discount Window. The available funding from the Federal Home Loan Bank and the Federal Reserve are secured by the Company's loan and investment portfolios. The Company's total on and off-balance sheet liquidity totaled $4.9 billion at September 30, 2025, which amounts to 267% of the total uninsured/uncollateralized deposits currently on the Company's balance sheet.

**Income from Capital Markets Activities** 

Noninterest income from Capital Markets activities (detailed below) totaled $901,000 for the September 2025 quarter compared to $799,000 for the June 2025 quarter and $435,000 for the September 2024 quarter. The third quarter of 2025 benefitted from one corporate advisory transaction for $639,000.

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| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **September 30,** | **June 30,** | **September 30,** |
| **(Dollars in thousands, except per share data) (unaudited)** | **2025** | **2025** | **2024** |
| Gain on loans held for sale at fair value (Mortgage banking) | $6 | $27 | $15 |
| Fee income related to loan level, back-to-back swaps |  | 221 |  |
| Gain on sale of SBA loans | 203 | 521 | 365 |
| Corporate advisory fee income | 692 | 30 | 55 |
| Total capital markets activity | $901 | $799 | $435 |

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**Other Noninterest Income (other than Wealth Management Fee Income and Income from Capital Markets Activities)** 

Other noninterest income was $3.4 million for Q3 2025 compared to $4.7 million for Q2 2025 and $3.4 million for Q3 2024. Q3 2025 included income of $398,000 recorded by the Equipment Finance Division related to equipment transfers to lessees upon the termination of leases compared to income of $482,000 for Q2 2025 and $225,000 for Q3 2024. Additionally, Q3 2025 included $825,000 of unused line fees compared to $869,000 for Q2 2025 and $845,000 for Q3 2024. Other income also included a gain of $875,000 in the second quarter of 2025 for the termination of a lease agreement for a branch location that was no longer in use.

**Operating Expenses**

Total operating expenses were $52.3 million for the third quarter of 2025, compared to $51.9 million for the second quarter of 2025 and $44.6 million for the quarter ended September 30, 2024. The increase during the third quarter was primarily driven by expenses associated with the Company's ongoing expansion into New York City and Long Island, increased health insurance costs, and annual merit increases. The addition of production teams in Long Island and the new equipment financing team also contributed to the growth in operating expenses.

Mr. Kennedy noted, "We continue to make investments related to our strategic decision to expand into Metro New York City and are confident that these investments will position us for future growth and profitability, which

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will ultimately translate to increased shareholder value. We continue to look for opportunities to create efficiencies and manage expenses throughout the Company while investing in enhancements to the client experience."

**Income Taxes**

The effective tax rate for the three months ended September 30, 2025 was 29.2%, as compared to 29.5% for the June 2025 quarter and 29.4% for the quarter ended September 30, 2024.

**Asset Quality / Provision for Credit Losses**

Nonperforming assets decreased to $84.1 million, or 1.13% of total assets, at September 30, 2025, as compared to $115.0 million, or 1.60% of total assets, at June 30, 2025. The decrease in nonperforming assets during the third quarter was driven by the resolution of an equipment financing relationship with a loan balance of $20.1 million and three multifamily loans with balances totaling $11.8 million. Loans past due 30 to 89 days and still accruing increased to $28.8 million, or 0.48% of total loans, at September 30, 2025 compared to $15.5 million, or 0.27% of total loans, at June 30, 2025. The increase in loans past due is principally due to $4.2 million of multifamily loans and $8.8 million of C&I loans . Criticized and classified loans decreased during the third quarter by $41.2 million to $191.5 million at September 30, 2025 compared to $232.7 million at June 30, 2025. The decline in criticized and classified loan balances was primarily driven by the reduction in nonperforming assets mentioned above. The Company currently has no loans or leases on deferral and still accruing.

For the quarter ended September 30, 2025, the provision for credit losses was $4.8 million compared to $6.6 million for the June 2025 quarter and $1.2 million for the September 2024 quarter. The provision for credit losses in the third quarter of 2025 was driven by an increase in specific reserves totaling $4.3 million related to two multifamily loans, in addition to an increase driven by loan growth of $203 million.

At September 30, 2025, the allowance for credit losses ("ACL") was $68.6 million (1.14% of total loans), compared to $81.8 million (1.40% of total loans) at June 30, 2025, and $71.3 million (1.34% of total loans) at September 30, 2024. The decrease in the ACL during the third quarter was mainly driven by charge-offs of $18.0 million during the period. A charge-off of $11.3 million was related to one equipment financing relationship and charge-offs of $6.7 million were associated with three multifamily loans that were liquidated in the third quarter. Each of the charge-offs in the current period were tied to specific provisions that were recorded in previous periods.

Mr. Kennedy noted, "We continue to closely monitor asset quality metrics and work through each problem credit individually, while carrying appropriate reserve coverage."

**Capital** 

The Company's capital position increased during the third quarter of 2025 due to net income of $9.6 million and positive movement in accumulated other comprehensive income of $5.1 million related to the fair value of the Company's investment securities portfolio driven by the interest rate environment. Those increases were partially offset by the repurchase of 100,000 shares through the Company's repurchase program at a total cost of $2.7 million.

Tangible book value per share increased 7% to $34.10 per share at September 30, 2025 from $31.89 at December 31, 2024. (Tangible book value per share is a non-GAAP financial measure. See the reconciliation tables included in this release for further detail.) Book value per share increased 6% to $36.62 per share at September 30, 2025 compared to $34.45 at December 31, 2024. The Company's and Bank's regulatory capital ratios as of September 30, 2025 remain strong. Where applicable, such ratios remain well above regulatory well capitalized standards.

The Company employs quarterly capital stress testing modeling of an adverse case and severely adverse case. In the most recently completed stress test (as of June 30, 2025), the Bank remains well capitalized over a two-year stress period.

On September 29, 2025, the Company declared a cash dividend of $0.05 per share payable on November 28, 2025 to shareholders of record on November 6, 2025.

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**ABOUT THE COMPANY**

Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $7.4 billion and assets under management and/or administration of $12.9 billion as of September 30, 2025. Founded in 1921, Peapack Private Bank & Trust, a subsidiary of Peapack-Gladstone Financial Corporation, is a commercial bank that offers a client-centric approach to banking, providing high-quality products along with customized and innovative wealth management, investment banking, commercial and retail solutions. The Bank's wealth management division offers comprehensive financial, tax, fiduciary and investment advice and solutions to individuals, families, privately held businesses, family offices and not-for-profit organizations, which help them to establish, maintain and expand their legacy. Peapack Private Bank & Trust offers an unparalleled commitment to client service. Visit www.peapackprivate.com for more information.

**FORWARD-LOOKING STATEMENTS**

The foregoing may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management's confidence and strategies and management's expectations about new and existing programs and products, investments, relationships, opportunities and market conditions. These statements may be identified by such forward-looking terminology as "expect," "look," "believe," "anticipate," "may" or similar statements or variations of such terms. Actual results may differ materially from such forward-looking statements. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to successfully grow our business and implement our strategic plan, including our ability to generate revenues to offset the increased personnel and other costs related to the strategic plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the impact of anticipated higher operating expenses in 2025 and beyond;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to successfully integrate wealth management firm and team acquisitions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our ability to successfully integrate our expanded employee base;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•an unexpected decline in the economy, in particular in our New Jersey and New York market areas, including potential recessionary conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•declines in our net interest margin caused by the interest rate environment and/or our highly competitive market;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•declines in the value in our investment portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•impact from a pandemic event on our business, operations, customers, allowance for credit losses and capital levels;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•higher than expected increases in our allowance for credit losses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•higher than expected increases in credit losses or in the level of delinquent, nonperforming, classified and criticized loans or charge-offs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•inflation and changes in interest rates, which may adversely impact our margins and yields, reduce the fair value of our financial instruments, reduce our loan originations and lead to higher operating costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•decline in real estate values within our market areas;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•legislative and regulatory actions (including the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Basel III and related regulations) that may result in increased compliance costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the imposition of tariffs or other domestic or international governmental policies and retaliatory responses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the impact of the current federal government shutdown;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the failure to maintain current technologies and/or to successfully implement future information technology enhancements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•successful cyberattacks against our IT infrastructure and that of our IT and third-party providers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•higher than expected FDIC insurance premiums;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•adverse weather conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•the current or anticipated impact of military conflict, terrorism or other geopolitical events;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our inability to successfully generate new business in new geographic markets, including our expansion into New York City and Long Island;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•a reduction in our lower-cost funding sources;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our inability to adapt to technological changes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•claims and litigation pertaining to fiduciary responsibility, environmental laws and other matters;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•our inability to retain key employees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•demands for loans and deposits in our market areas;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•adverse changes in securities markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•changes in New York City rent regulation law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•changes in governmental regulation, including, but not limited to, any increase in FDIC insurance premiums and changes in the monetary policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•changes in accounting policies and practices; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•other unexpected material adverse changes in our financial condition, operations or earnings.

A discussion of these and other factors that could affect our results is included in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2024. Except as may be required by the applicable law or regulation, we undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.

 **(Tables to follow)**

------

**PEAPACK-GLADSTONE FINANCIAL CORPORATION**

**SELECTED CONSOLIDATED FINANCIAL DATA**

**(Dollars in Thousands, except per share data)**

 **(Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
|  | **Sept 30,** | **June 30,** | **March 31,** | **Dec 31** | **Sept 30,** |
|  | **2025** | **2025** | **2025** | **2024** | **2024** |
| **Income Statement Data:** |  |  |  |  |  |
| Interest income | $92545 | $89651 | $86345 | $86166 | $83203 |
| Interest expense | 41972 | 41361 | 40840 | 44258 | 45522 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 50573 | 48290 | 45505 | 41908 | 37681 |
| Wealth management fee income | 15798 | 15943 | 15435 | 15482 | 15150 |
| Service charges and fees | 1184 | 1194 | 1112 | 1323 | 1327 |
| Bank owned life insurance | 383 | 370 | 371 | 335 | 390 |
| Gain on loans held for sale at fair value<br> (Mortgage banking) | 6 | 27 | 63 | 58 | 15 |
| Loss on loans held for sale at lower<br> of cost or fair value | (364) |  |  |  |  |
| Fee income related to loan level, back-to-back swaps |  | 221 |  |  |  |
| Gain on sale of SBA loans | 203 | 521 | 302 |  | 365 |
| Corporate advisory fee income | 692 | 30 | 90 | 56 | 55 |
| Other income | 2094 | 3096 | 1286 | 2125 | 1162 |
| Securities gains, net |  | 7 |  |  |  |
| Fair value adjustment for CRA equity security | 125 | 42 | 195 | 549 | 474 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other income | 20121 | 21451 | 18854 | 19928 | 18938 |
| Total revenue | 70694 | 69741 | 64359 | 61836 | 56619 |
| Compensation and employee benefits | 36756 | 36061 | 35879 | 32915 | 31050 |
| Premises and equipment | 6676 | 6641 | 6154 | 5995 | 5633 |
| FDIC insurance expense | 1345 | 1045 | 855 | 825 | 870 |
| Other expenses | 7520 | 8146 | 6552 | 8125 | 7096 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 52297 | 51893 | 49440 | 47860 | 44649 |
| Pretax income before provision for credit losses | 18397 | 17848 | 14919 | 13976 | 11970 |
| Provision for credit losses | 4790 | 6586 | 4471 | 1738 | 1224 |
| Income before income taxes | 13607 | 11262 | 10448 | 12238 | 10746 |
| Income tax expense | 3976 | 3321 | 2853 | 2998 | 3159 |
| Net income | $9631 | $7941 | $7595 | $9240 | $7587 |
| **Per Common Share Data:** |  |  |  |  |  |
| Earnings per share (basic) | $0.55 | $0.45 | $0.43 | $0.53 | $0.43 |
| Earnings per share (diluted) | 0.54 | 0.45 | 0.43 | 0.52 | 0.43 |
| **Weighted average number of common<br> shares outstanding:** |  |  |  |  |  |
| Basic | 17576899 | 17704110 | 17610917 | 17585213 | 17616046 |
| Diluted | 17686979 | 17773237 | 17812222 | 17770717 | 17700042 |
| **Performance Ratios:** |  |  |  |  |  |
| Return on average assets annualized (ROAA) | 0.53% | 0.45% | 0.43% | 0.54% | 0.46% |
| Return on average equity annualized (ROAE) | 6.12% | 5.11% | 4.98% | 6.15% | 5.12% |
| Return on average tangible equity annualized (ROATCE) (A) | 6.59% | 5.50% | 5.37% | 6.65% | 5.54% |
| Net interest margin (tax-equivalent basis) | 2.81% | 2.77% | 2.68% | 2.46% | 2.34% |
| GAAP efficiency ratio (B) | 73.98% | 74.41% | 76.82% | 77.40% | 78.86% |
| Operating expenses / average assets annualized | 2.87% | 2.92% | 2.82% | 2.77% | 2.73% |

---

(A) Return on average tangible equity is calculated by dividing tangible equity by annualized net income. See non-GAAP financial measures reconciliation included in these tables.

(B) Calculated as total operating expenses as a percentage of total revenue. For non-GAAP efficiency ratio, see the non-GAAP financial measures reconciliation included in these tables.

------

**PEAPACK-GLADSTONE FINANCIAL CORPORATION**

**SELECTED CONSOLIDATED FINANCIAL DATA**

**(Dollars in Thousands, except per share data)**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Nine Months Ended** | **For the Nine Months Ended** |  |  |
|  | **September 30,** | **September 30,** | **Change** | **Change** |
|  | **2025** | **2024** | **$** | **%** |
| **Income Statement Data:** |  |  |  |  |
| Interest income | $268541 | $241635 | $26906 | 11% |
| Interest expense | 124173 | 134537 | (10364) | -8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 144368 | 107098 | 37270 | 35% |
| Wealth management fee income | 47176 | 45976 | 1200 | 3% |
| Service charges and fees | 3490 | 3994 | (504) | -13% |
| Bank owned life insurance | 1124 | 1221 | (97) | -8% |
| Gain on loans held for sale at fair value (Mortgage banking) | 96 | 105 | (9) | -9% |
| Loss/(gain) on loans held for sale at lower of cost or fair value | (364) | 23 | (387) | -1683% |
| Fee income related to loan level, back-to-back swaps | 221 |  | 221 | N/A |
| Gain on sale of SBA loans | 1026 | 1214 | (188) | -15% |
| Corporate advisory fee income | 812 | 976 | (164) | -17% |
| Other income | 6476 | 5406 | 1070 | 20% |
| Securities gains, net | 7 |  | 7 | N/A |
| Fair value adjustment for CRA equity security | 362 | 279 | 83 | 30% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other income | 60426 | 59194 | 1232 | 2% |
| Total revenue | 204794 | 166292 | 38502 | 23% |
| Compensation and employee benefits | 108696 | 89410 | 19286 | 22% |
| Premises and equipment | 19471 | 16490 | 2981 | 18% |
| FDIC insurance expense | 3245 | 2685 | 560 | 21% |
| Other expenses | 22218 | 19231 | 2987 | 16% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 153630 | 127816 | 25814 | 20% |
| Pretax income before provision for credit losses | 51164 | 38476 | 12688 | 33% |
| Provision for credit losses | 15847 | 5762 | 10085 | 175% |
| Income before income taxes | 35317 | 32714 | 2603 | 8% |
| Income tax expense | 10150 | 8966 | 1184 | 13% |
| Net income | $25167 | $23748 | $1419 | 6% |
| **Per Common Share Data:** |  |  |  |  |
| Earnings per share (basic) | $1.43 | $1.34 | $0.09 | 7% |
| Earnings per share (diluted) | 1.42 | 1.34 | 0.08 | 6% |
| **Weighted average number of common shares outstanding:** |  |  |  |  |
| Basic | 17630517 | 17691309 | (60792) | 0% |
| Diluted | 17763871 | 17746560 | 17311 | 0% |
| **Performance Ratios:** |  |  |  |  |
| Return on average assets (ROAA) | 0.47% | 0.49% | (0.02)% | -4% |
| Return on average equity (ROAE) | 5.41% | 5.42% | (0.01)% | 0% |
| Return on average tangible equity (ROATCE) (A) | 5.83% | 5.88% | (0.05)% | -1% |
| Net interest margin (tax-equivalent basis) | 2.76% | 2.26% | 0.50% | 22% |
| GAAP efficiency ratio (B) | 75.02% | 76.86% | (1.84)% | -2% |
| Operating expenses / average assets | 2.87% | 2.65% | 0.22% | 8% |

---

(A) Return on average tangible equity is calculated by dividing tangible equity by annualized net income. See non-GAAP financial measures reconciliation included in these tables.

(B) Calculated as total operating expenses as a percentage of total revenue. For non-GAAP efficiency ratio, see the non-GAAP financial measures reconciliation included in these tables.

------

**PEAPACK-GLADSTONE FINANCIAL CORPORATION**

**CONSOLIDATED STATEMENTS OF CONDITION**

**(Dollars in Thousands)**

**(Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of** | **As of** | **As of** | **As of** | **As of** |
|  | **Sept 30,** | **June 30,** | **March 31,** | **Dec 31,** | **Sept 30,** |
|  | **2025** | **2025** | **2025** | **2024** | **2024** |
| ASSETS |  |  |  |  |  |
| Cash and due from banks | $8514 | $7524 | $7885 | $8492 | $8129 |
| Federal funds sold |  |  |  |  |  |
| Interest-earning deposits | 338672 | 308078 | 224032 | 382875 | 484529 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cash and cash equivalents | 347186 | 315602 | 231917 | 391367 | 492658 |
| Securities available for sale | 756578 | 767533 | 832030 | 784544 | 682713 |
| Securities held to maturity | 97414 | 98623 | 100285 | 101635 | 103158 |
| CRA equity security, at fair value | 13403 | 13278 | 13236 | 13041 | 13445 |
| FHLB and FRB stock, at cost (A) | 11387 | 11467 | 12311 | 12373 | 12459 |
| Residential mortgage | 649523 | 649703 | 630245 | 614840 | 591374 |
| Multifamily mortgage | 1796533 | 1794854 | 1775132 | 1799754 | 1784861 |
| Commercial mortgage | 689166 | 643520 | 633957 | 588104 | 578559 |
| Commercial and industrial loans | 2662661 | 2543092 | 2528235 | 2397699 | 2247853 |
| Consumer loans | 171811 | 140668 | 140443 | 77785 | 78160 |
| Home equity lines of credit | 57166 | 52434 | 48301 | 42327 | 38971 |
| Other loans | 405 | 261 | 359 | 411 | 389 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans | 6027265 | 5824532 | 5756672 | 5520920 | 5320167 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Allowance for credit losses | 68642 | 81770 | 75150 | 72992 | 71283 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loans | 5958623 | 5742762 | 5681522 | 5447928 | 5248884 |
| Premises and equipment | 37756 | 36626 | 31639 | 28888 | 25716 |
| Accrued interest receivable | 34120 | 33209 | 31968 | 29898 | 31973 |
| Bank owned life insurance | 48381 | 48239 | 48110 | 47981 | 47837 |
| Goodwill and other intangible assets | 44111 | 44383 | 44655 | 44926 | 45198 |
| Finance lease right-of-use assets | 879 | 914 | 950 | 985 | 1020 |
| Operating lease right-of-use assets | 37692 | 38291 | 39456 | 40289 | 41650 |
| Due from brokers |  |  |  |  |  |
| Other assets | 52112 | 49746 | 52573 | 67383 | 47081 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOTAL ASSETS | $7439642 | $7200673 | $7120652 | $7011238 | $6793792 |
| LIABILITIES |  |  |  |  |  |
| Deposits: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing demand deposits | $1323492 | $1237864 | $1184860 | $1112734 | $1079877 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing demand deposits | 3509403 | 3483295 | 3450014 | 3334269 | 3316217 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | 104524 | 103846 | 107581 | 103136 | 103979 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market accounts | 1226506 | 1095665 | 1087959 | 1078024 | 902562 |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit – Retail | 397338 | 440612 | 442369 | 483998 | 515297 |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit – Listing Service | 899 | 1841 | 3773 | 6861 | 7454 |
| Subtotal "customer" deposits | 6562162 | 6363123 | 6276556 | 6119022 | 5925386 |
| &nbsp;&nbsp;&nbsp;&nbsp;IB Demand – Brokered |  |  | 10000 | 10000 | 10000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit – Brokered |  |  |  |  |  |
| Total deposits | 6562162 | 6363123 | 6286556 | 6129022 | 5935386 |
| Short-term borrowings |  |  |  |  |  |
| Finance lease liability | 1227 | 1268 | 1308 | 1348 | 1388 |
| Operating lease liability | 41139 | 41806 | 42948 | 43569 | 44775 |
| Subordinated debt, net | 98981 | 98933 | 98884 | 133561 | 133489 |
| Due to brokers | 25125 |  |  | 18514 |  |
| Other liabilities | 68458 | 65766 | 69083 | 79375 | 71140 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOTAL LIABILITIES | 6797092 | 6570896 | 6498779 | 6405389 | 6186178 |
| Shareholders' equity | 642550 | 629777 | 621873 | 605849 | 607614 |
| &nbsp;&nbsp;&nbsp;&nbsp;TOTAL LIABILITIES AND |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SHAREHOLDERS' EQUITY | $7439642 | $7200673 | $7120652 | $7011238 | $6793792 |
| **Assets under management and / or administration at<br>Peapack Private Bank & Trust's Wealth Management<br>Division (market value, not included above-dollars in billions)** | $12.9 | $12.3 | $11.8 | $11.9 | $12.1 |

---

(A) FHLB means "Federal Home Loan Bank" and FRB means "Federal Reserve Bank."

------

**PEAPACK-GLADSTONE FINANCIAL CORPORATION**

**SELECTED BALANCE SHEET DATA**

**(Dollars in Thousands)**

**(Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of** | **As of** | **As of** | **As of** | **As of** |
|  | **Sept 30,** | **June 30,** | **March 31,** | **Dec 31,** | **Sept 30,** |
|  | **2025** | **2025** | **2025** | **2024** | **2024** |
| **Asset Quality:** |  |  |  |  |  |
| Loans past due over 90 days and still accruing | $— | $— | $— | $— | $— |
| Nonaccrual loans | 84142 | 114958 | 97170 | 100168 | 80453 |
| Other real estate owned |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming assets | $84142 | $114958 | $97170 | $100168 | $80453 |
| Nonperforming loans to total loans | 1.40% | 1.97% | 1.69% | 1.81% | 1.51% |
| Nonperforming assets to total assets | 1.13% | 1.60% | 1.36% | 1.43% | 1.18% |
| Performing modifications (A)(B) | $101501 | $111962 | $63259 | $45846 | $51796 |
| Loans past due 30 through 89 days and still accruing | $28817 | $15522 | $28323 | $4870 | $31446 |
| Loans subject to special mention | $56534 | $86907 | $75248 | $46518 | $113655 |
| Classified loans | $134982 | $145783 | $142273 | $145394 | $147422 |
| Individually evaluated loans | $84142 | $114958 | $97170 | $99775 | $79972 |
| Allowance for credit losses ("ACL"): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Beginning of quarter | $81770 | $75150 | $72992 | $71283 | $67984 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses (C) | 4871 | 6577 | 4494 | 1753 | 1227 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Charge-offs)/recoveries, net (D) | (17999) | 43 | (2336) | (44) | 2072 |
| &nbsp;&nbsp;&nbsp;&nbsp;End of quarter | $68642 | $81770 | $75150 | $72992 | $71283 |
| ACL to nonperforming loans | 81.58% | 71.13% | 77.34% | 72.87% | 88.60% |
| ACL to total loans | 1.14% | 1.40% | 1.31% | 1.32% | 1.34% |
| Collectively evaluated ACL to total loans (E) | 0.95% | 1.06% | 1.09% | 1.09% | 1.16% |

---

(A) Amounts reflect modifications that are paying according to modified terms.

(B) Excludes modifications included in nonaccrual loans of $37.6 million at September 30, 2025, $38.1 million at June 30, 2025, $3.9 million at March 31, 2025, $3.6 million at December 31, 2024 and $3.7 million at September 30, 2024.

(C) Excludes a credit of $81,000 at September 30, 2025, provision of $9,000 at June 30, 2025, a credit of $23,000 at March 31, 2025, a credit of $15,000 at December 31, 2024 and a credit of $3,000 at September 30, 2024 related to off-balance sheet commitments.

(D) Includes charge-offs of $6.7 million related to three commercial mortgage loans and $11.3 million related to one equipment financing relationship for the quarter ended September 30, 2025.

(E) Total ACL less reserves to loans individually evaluated equals collectively evaluated ACL.

------

**PEAPACK-GLADSTONE FINANCIAL CORPORATION**

**SELECTED BALANCE SHEET DATA**

**(Dollars in Thousands)**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  | **As of** | **As of** | **As of** |
|  | **September 30,** | **December 31,** | **September 30,** |
|  | **2025** | **2024** | **2024** |
| **Capital Adequacy** |  |  |  |
| Equity to total assets (A) | 8.64% | 8.64% | 8.94% |
| Tangible equity to tangible assets (B) | 8.09% | 8.05% | 8.33% |
| Book value per share (C) | $36.62 | $34.45 | $34.57 |
| Tangible book value per share (D) | $34.10 | $31.89 | $32.00 |

---

(A) Equity to total assets is calculated as total shareholders' equity as a percentage of total assets at quarter end.

(B) 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 at quarter end. See Non-GAAP financial measures reconciliation included in these tables.

(C) Book value per common share is calculated by dividing shareholders' equity by quarter end common shares outstanding.

(D) Tangible book value per share excludes intangible assets. Tangible book value per share is calculated by dividing tangible equity by quarter end common shares outstanding. See Non-GAAP financial measures reconciliation tables.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **As of** | **As of** | **As of** | **As of** | **As of** | **As of** |
|  | **September 30,** | **September 30,** | **December 31,** | **December 31,** | **September 30,** | **September 30,** |
|  | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** |
| **Regulatory Capital – Holding Company** |  |  |  |  |  |  |
| Tier I leverage | $647549 | 8.86% | $625830 | 9.01% | $615486 | 9.33% |
| Tier I capital to risk-weighted assets | 647549 | 10.47 | 625830 | 11.51 | 615486 | 11.67 |
| Common equity tier I capital ratio<br> to risk-weighted assets | 647543 | 10.47 | 625824 | 11.51 | 615474 | 11.67 |
| Tier I & II capital to risk-weighted assets | 815770 | 13.20 | 806404 | 14.84 | 800961 | 15.19 |
| **Regulatory Capital – Bank** |  |  |  |  |  |  |
| Tier I leverage (E) | $722684 | 9.89% | $733389 | 10.57% | $724038 | 10.99% |
| Tier I capital to risk-weighted assets (F) | 722684 | 11.70 | 733389 | 13.50 | 724038 | 13.75 |
| Common equity tier I capital ratio<br> to risk-weighted assets (G) | 722678 | 11.70 | 733383 | 13.50 | 724026 | 13.75 |
| Tier I & II capital to risk-weighted assets (H) | 791924 | 12.82 | 801365 | 14.75 | 789954 | 15.00 |

---

(E) Regulatory well capitalized standard (including capital conservation buffer) = 4.00% ($292 million)

(F) Regulatory well capitalized standard (including capital conservation buffer) = 8.50% ($525 million)

(G) Regulatory well capitalized standard (including capital conservation buffer) = 7.00% ($433 million)

(H) Regulatory well capitalized standard (including capital conservation buffer) = 10.50% ($649 million)

------

**PEAPACK-GLADSTONE FINANCIAL CORPORATION**

**LOANS CLOSED**

**(Dollars in Thousands)**

**(Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **For the Quarters Ended** | **For the Quarters Ended** | **For the Quarters Ended** | **For the Quarters Ended** | **For the Quarters Ended** |
|  | **Sept 30,** | **June 30,** | **March 31,** | **Dec 31,** | **Sept 30,** |
|  | **2025** | **2025** | **2025** | **2024** | **2024** |
| Residential loans retained | $18323 | $34990 | $25157 | $39279 | $26955 |
| Residential loans sold | 445 | 1712 | 4074 | 4220 | 1853 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total residential loans | 18768 | 36702 | 29231 | 43499 | 28808 |
| Commercial real estate | 78825 | 24086 | 47280 | 15800 | 4300 |
| Multifamily | 47991 | 73350 | 6800 | 12550 | 11295 |
| Commercial (C&I) loans (A) (B) | 453554 | 200671 | 257282 | 432115 | 242829 |
| SBA | 6821 | 7090 | 5928 | 5964 | 9106 |
| Wealth lines of credit (A) | 2700 | 2400 | 9900 | 550 | 11675 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial loans | 589891 | 307597 | 327190 | 466979 | 279205 |
| Installment loans | 47115 | 8164 | 76941 | 7182 | 8137 |
| Home equity lines of credit (A) | 11755 | 5154 | 4805 | 10236 | 10421 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans closed | $667529 | $357617 | $438167 | $527896 | $326571 |

---

---

| | | |
|:---|:---|:---|
|  | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **Sept 30,** | **Sept 30,** |
|  | **2025** | **2024** |
| Residential loans retained | $78470 | $54703 |
| Residential loans sold | 6231 | 8239 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total residential loans | 84701 | 62942 |
| Commercial real estate | 150191 | 18400 |
| Multifamily | 128141 | 17525 |
| Commercial (C&I) loans (A) (B) | 911507 | 491697 |
| SBA | 19839 | 20096 |
| Wealth lines of credit (A) | 15000 | 26475 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial loans | 1224678 | 574193 |
| Installment loans | 132220 | 16669 |
| Home equity lines of credit (A) | 21714 | 17311 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans closed | $1463313 | $671115 |

---

(A) Includes loans and lines of credit that closed in the period but not necessarily funded.

(B) Includes equipment finance.

------

**PEAPACK-GLADSTONE FINANCIAL CORPORATION**

**AVERAGE BALANCE SHEET**

(Tax-Equivalent Basis, Dollars in Thousands)

(Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
|  | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2024** | **September 30, 2024** | **September 30, 2024** |
|  | **Average** | **Income/** | **Annualized** | **Average** | **Income/** | **Annualized** |
|  | **Balance** | **Expense** | **Yield** | **Balance** | **Expense** | **Yield** |
| ASSETS: |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable (A) | $963706 | $7504 | 3.11% | $865892 | $6107 | 2.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt (A) (B) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans (B) (C): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgages | 650299 | 7337 | 4.51 | 579949 | 5834 | 4.02 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgages | 2458008 | 28447 | 4.63 | 2381771 | 27362 | 4.60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial | 2586780 | 42790 | 6.62 | 2159648 | 37588 | 6.96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction |  |  |  | 22371 | 507 | 9.07 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Installment | 156471 | 2718 | 6.95 | 73440 | 1267 | 6.90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home equity | 53781 | 1020 | 7.59 | 38768 | 814 | 8.40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 363 | 5 | 5.43 | 239 | 6 | 10.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | 5905702 | 82317 | 5.58 | 5256186 | 73378 | 5.58 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal funds sold |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-earning deposits | 304681 | 2960 | 3.89 | 326707 | 3982 | 4.88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 7174089 | 92781 | 5.17% | 6448785 | 83467 | 5.18% |
| Noninterest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and due from banks | 12279 |  |  | 7521 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses | (82803) |  |  | (70317) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premises and equipment | 37608 |  |  | 25530 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 136238 |  |  | 139042 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-earning assets | 103322 |  |  | 101776 |  |  |
| Total assets | $7277411 |  |  | $6550561 |  |  |
| LIABILITIES: |  |  |  |  |  |  |
| Interest-bearing deposits: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Checking | $3640088 | $29975 | 3.29% | $3214186 | $31506 | 3.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;Money markets | 1005633 | 7225 | 2.87 | 833325 | 6419 | 3.08 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | 104777 | 178 | 0.68 | 104293 | 117 | 0.45 |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit – retail | 429389 | 3657 | 3.41 | 512794 | 5540 | 4.32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal interest-bearing deposits | 5179887 | 41035 | 3.17 | 4664598 | 43582 | 3.74 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing demand – brokered |  |  |  | 10000 | 134 | 5.36 |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit – brokered |  |  |  | 7913 | 106 | 5.36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 5179887 | 41035 | 3.17 | 4682511 | 43822 | 3.74 |
| &nbsp;&nbsp;&nbsp;&nbsp;Borrowings |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital lease obligation | 1242 | 13 | 4.19 | 1401 | 15 | 4.28 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt | 98954 | 924 | 3.74 | 133449 | 1685 | 5.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 5280083 | 41972 | 3.18% | 4817361 | 45522 | 3.78% |
| Noninterest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Demand deposits | 1261607 |  |  | 1016014 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 106630 |  |  | 124399 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-bearing liabilities | 1368237 |  |  | 1140413 |  |  |
| Shareholders' equity | 629091 |  |  | 592787 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $7277411 |  |  | $6550561 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income |  | $50809 |  |  | $37945 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest spread |  |  | 1.99% |  |  | 1.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest margin (D) |  |  | 2.81% |  |  | 2.34% |

---

(A) Average balances for available for sale securities are based on amortized cost.

(B) Interest income is presented on a tax-equivalent basis using a 21% federal tax rate.

(C) Loans are stated net of unearned income and include nonaccrual loans.

(D) Net interest income on a tax-equivalent basis as a percentage of total average interest-earning assets.

------

**PEAPACK-GLADSTONE FINANCIAL CORPORATION**

**AVERAGE BALANCE SHEET**

(Tax-Equivalent Basis, Dollars in Thousands)

(Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** | **For the Three Months Ended** |
|  | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
|  | **Average** | **Income/** | **Annualized** | **Average** | **Income/** | **Annualized** |
|  | **Balance** | **Expense** | **Yield** | **Balance** | **Expense** | **Yield** |
| ASSETS: |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable (A) | $963706 | $7504 | 3.11% | $1037598 | $8370 | 3.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt (A) (B) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans (B) (C): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgages | 650299 | 7337 | 4.51 | 640955 | 7138 | 4.45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgages | 2458008 | 28447 | 4.63 | 2426318 | 27392 | 4.52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial | 2586780 | 42790 | 6.62 | 2539929 | 42015 | 6.62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Installment | 156471 | 2718 | 6.95 | 140133 | 2403 | 6.86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home equity | 53781 | 1020 | 7.59 | 50613 | 946 | 7.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 363 | 5 | 5.43 | 348 | 5 | 5.75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | 5905702 | 82317 | 5.58 | 5798296 | 79899 | 5.51 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal funds sold |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-earning deposits | 304681 | 2960 | 3.89 | 183584 | 1618 | 3.53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 7174089 | 92781 | 5.17% | 7019478 | 89887 | 5.12% |
| Noninterest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and due from banks | 12279 |  |  | 8237 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses | (82803) |  |  | (76811) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premises and equipment | 37608 |  |  | 35501 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 136238 |  |  | 130550 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-earning assets | 103322 |  |  | 97477 |  |  |
| Total assets | $7277411 |  |  | $7116955 |  |  |
| LIABILITIES: |  |  |  |  |  |  |
| Interest-bearing deposits: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Checking | $3640088 | $29975 | 3.29% | $3558108 | $29116 | 3.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;Money markets | 1005633 | 7225 | 2.87 | 950891 | 6544 | 2.75 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | 104777 | 178 | 0.68 | 104114 | 147 | 0.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit – retail | 429389 | 3657 | 3.41 | 447422 | 4002 | 3.58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal interest-bearing deposits | 5179887 | 41035 | 3.17 | 5060535 | 39809 | 3.15 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing demand – brokered |  |  |  | 9121 | 110 | 4.82 |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit – brokered |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 5179887 | 41035 | 3.17 | 5069656 | 39919 | 3.15 |
| &nbsp;&nbsp;&nbsp;&nbsp;Borrowings |  |  |  | 44656 | 505 | 4.52 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital lease obligation | 1242 | 13 | 4.19 | 1283 | 13 | 4.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt | 98954 | 924 | 3.74 | 98905 | 924 | 3.74 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 5280083 | 41972 | 3.18% | 5214500 | 41361 | 3.17% |
| Noninterest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Demand deposits | 1261607 |  |  | 1172535 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 106630 |  |  | 108020 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-bearing liabilities | 1368237 |  |  | 1280555 |  |  |
| Shareholders' equity | 629091 |  |  | 621900 |  |  |
| Total liabilities and shareholders' equity | $7277411 |  |  | $7116955 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income |  | $50809 |  |  | $48526 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest spread |  |  | 1.99% |  |  | 1.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest margin (D) |  |  | 2.81% |  |  | 2.77% |

---

(A) Average balances for available for sale securities are based on amortized cost.

(B) Interest income is presented on a tax-equivalent basis using a 21% federal tax rate.

(C) Loans are stated net of unearned income and include nonaccrual loans.

(D) Net interest income on a tax-equivalent basis as a percentage of total average interest-earning assets.

------

**PEAPACK-GLADSTONE FINANCIAL CORPORATION**

**AVERAGE BALANCE SHEET**

(Tax-Equivalent Basis, Dollars in Thousands)

(Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Nine Months Ended** | **For the Nine Months Ended** | **For the Nine Months Ended** | **For the Nine Months Ended** | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2024** | **September 30, 2024** | **September 30, 2024** |
|  | **Average** | **Income/** |  | **Average** | **Income/** |  |
|  | **Balance** | **Expense** | **Yield** | **Balance** | **Expense** | **Yield** |
| ASSETS: |  |  |  |  |  |  |
| Interest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable (A) | $1010936 | $24087 | 3.18% | $820594 | $16411 | 2.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt (A) (B) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans (B) (C): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgages | 636268 | 21146 | 4.43 | 578187 | 16836 | 3.88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgages | 2423225 | 82017 | 4.51 | 2420772 | 81783 | 4.50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial | 2520420 | 124909 | 6.61 | 2196921 | 112214 | 6.81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction |  |  |  | 20981 | 1425 | 9.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Installment | 134883 | 6914 | 6.83 | 68605 | 3524 | 6.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home equity | 50143 | 2811 | 7.47 | 37255 | 2298 | 8.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 339 | 15 | 5.95 | 218 | 19 | 11.62 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | 5765278 | 237812 | 5.50 | 5322939 | 218099 | 5.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal funds sold |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-earning deposits | 259707 | 7354 | 3.78 | 225070 | 7922 | 4.69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 7035921 | 269253 | 5.10% | 6368603 | 242432 | 5.08% |
| Noninterest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and due from banks | 9646 |  |  | 8384 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses | (78040) |  |  | (68337) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premises and equipment | 34382 |  |  | 24917 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 130645 |  |  | 109152 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-earning assets | 96633 |  |  | 74116 |  |  |
| Total assets | $7132554 |  |  | $6442719 |  |  |
| LIABILITIES: |  |  |  |  |  |  |
| Interest-bearing deposits: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Checking | $3548745 | $87168 | 3.28% | $3088218 | $88192 | 3.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Money markets | 979675 | 20487 | 2.79 | 794297 | 17959 | 3.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | 104983 | 443 | 0.56 | 106200 | 302 | 0.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit – retail | 448187 | 12022 | 3.58 | 498353 | 15762 | 4.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal interest-bearing deposits | 5081590 | 120120 | 3.15 | 4487068 | 122215 | 3.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing demand – brokered | 6337 | 210 | 4.42 | 10000 | 394 | 5.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Certificates of deposit – brokered |  |  |  | 78042 | 2950 | 5.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 5087927 | 120330 | 3.15 | 4575110 | 125559 | 3.66 |
| &nbsp;&nbsp;&nbsp;&nbsp;Borrowings | 15215 | 516 | 4.53 | 87224 | 3848 | 5.88 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital lease obligation | 1282 | 40 | 4.16 | 2491 | 75 | 4.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt | 108065 | 3287 | 4.06 | 133377 | 5055 | 5.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 5212489 | 124173 | 3.18% | 4798202 | 134537 | 3.74% |
| Noninterest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Demand deposits | 1185955 |  |  | 959571 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 113521 |  |  | 101247 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-bearing liabilities | 1299476 |  |  | 1060818 |  |  |
| Shareholders' equity | 620589 |  |  | 583699 |  |  |
| Total liabilities and shareholders' equity | $7132554 |  |  | $6442719 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income |  | $145080 |  |  | $107895 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest spread |  |  | 1.92% |  |  | 1.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest margin (D) |  |  | 2.76% |  |  | 2.26% |

---

(A) Average balances for available for sale securities are based on amortized cost.

(B) Interest income is presented on a tax-equivalent basis using a 21% federal tax rate.

(C) Loans are stated net of unearned income and include nonaccrual loans.

(D) Net interest income on a tax-equivalent basis as a percentage of total average interest-earning assets.

------

**PEAPACK-GLADSTONE FINANCIAL CORPORATION**

**NON-GAAP FINANCIAL MEASURES RECONCILIATION**

Tangible book value per share and tangible equity as a percentage of tangible assets at period end are non-GAAP financial measures derived from GAAP-based amounts. We calculate tangible equity and tangible assets by excluding the balance of intangible assets from shareholders' equity and total assets, respectively. We calculate tangible book value per share by dividing tangible equity by common shares outstanding, as compared to book value per common share, which we calculate by dividing shareholders' equity by common shares outstanding at period end. We calculate tangible equity as a percentage of tangible assets at period end by dividing tangible equity by tangible assets at period end. We believe that this is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios.

The efficiency ratio is a non-GAAP measure of expense control relative to recurring revenue. We calculate the efficiency ratio by dividing total noninterest expenses, excluding other real estate owned provision, as determined under GAAP, by net interest income and total noninterest income as determined under GAAP, but excluding net gains/(losses) on loans held for sale at lower of cost or fair value and excluding net gains on securities from this calculation, which we refer to below as recurring revenue. We believe that this provides a reasonable measure of core expenses relative to core revenue.

We believe these non-GAAP financial measures provide information that is important to investors and useful in understanding our financial position, results and ratios because our management internally assesses our performance based, in part, on these measures. However, these non-GAAP financial measures are supplemental and are not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titles measures reported by other companies. A reconciliation of the non-GAAP measures of tangible common equity, tangible book value per share and efficiency ratio to the underlying GAAP numbers is set forth below.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Sept 30,** | **June 30,** | **March 31,** | **Dec 31,** | **Sept 30,** |
| **Tangible Book Value Per Share** | **2025** | **2025** | **2025** | **2024** | **2024** |
| Shareholders' equity | $642550 | $629777 | $621873 | $605849 | $607614 |
| Less: Intangible assets, net | 44111 | 44383 | 44655 | 44926 | 45198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible equity | $598439 | $585394 | $577218 | $560923 | $562416 |
| Period end shares outstanding | 17548471 | 17636264 | 17726251 | 17586616 | 17577747 |
| Tangible book value per share | $34.10 | $33.19 | $32.56 | $31.89 | $32.00 |
| Book value per share | 36.62 | 35.71 | 35.08 | 34.45 | 34.57 |
| **Tangible Equity to Tangible Assets** |  |  |  |  |  |
| Total assets | $7439642 | $7200673 | $7120652 | $7011238 | $6793792 |
| Less: Intangible assets, net | 44111 | 44383 | 44655 | 44926 | 45198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible assets | $7395531 | $7156290 | $7075997 | $6966312 | $6748594 |
| Tangible equity to tangible assets | 8.09% | 8.18% | 8.16% | 8.05% | 8.33% |
| Equity to assets | 8.64% | 8.75% | 8.73% | 8.64% | 8.94% |

---

------

(Dollars in thousands, except per share data)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Sept 30,** | **June 30,** | **March 31,** | **Dec 31,** | **Sept 30,** |
| **Return on Average Tangible Equity** | **2025** | **2025** | **2025** | **2024** | **2024** |
| Net income | $9631 | $7941 | $7595 | $9240 | $7587 |
| Average shareholders' equity | $629091 | $621900 | $610573 | $600808 | $592787 |
| Less: Average intangible assets, net | 44266 | 44538 | 44815 | 45079 | 45350 |
| &nbsp;&nbsp;&nbsp;&nbsp;Average tangible equity | $584825 | $577362 | $565758 | $555729 | $547437 |
| Return on average tangible common equity | 6.59% | 5.50% | 5.37% | 6.65% | 5.54% |

---

(Dollars in thousands)

---

| | | |
|:---|:---|:---|
|  | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **Sept 30,** | **Sept 30,** |
| **Return on Average Tangible Equity** | **2025** | **2024** |
| Net income | $25167 | $23748 |
| Average shareholders' equity | $620589 | $583699 |
| Less: Average intangible assets, net | 44538 | 45625 |
| &nbsp;&nbsp;&nbsp;&nbsp;Average tangible equity | 576051 | 538074 |
| Return on average tangible common equity | 5.83% | 5.88% |

---

(Dollars in thousands)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
|  | **Sept 30,** | **June 30,** | **March 31,** | **Dec 31,** | **Sept 30,** |
| **Efficiency Ratio** | **2025** | **2025** | **2025** | **2024** | **2024** |
| Net interest income | $50573 | $48290 | $45505 | $41908 | $37681 |
| Total other income | 20121 | 21451 | 18854 | 19928 | 18938 |
| Add: |  |  |  |  |  |
| Fair value adjustment for CRA equity security | (125) | (42) | (195) | (549) | (474) |
| Less: |  |  |  |  |  |
| Loss on loans held for sale at lower of cost or fair value | 364 |  |  |  |  |
| Income from life insurance proceeds |  |  |  |  | (55) |
| Gain on securities sale, net |  | (7) |  |  |  |
| Gain on lease termination |  | (875) |  |  |  |
| Total recurring revenue | 70933 | 68817 | 64164 | 61287 | 56090 |
| Operating expenses | 52297 | 51893 | 49440 | 47860 | 44649 |
| Total operating expense | 52297 | 51893 | 49440 | 47860 | 44649 |
| Efficiency ratio | 73.73% | 75.41% | 77.05% | 78.09% | 79.60% |

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(Dollars in thousands)

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| | | |
|:---|:---|:---|
|  | **For the Nine Months Ended** | **For the Nine Months Ended** |
|  | **Sept 30,** | **Sept 30,** |
| **Efficiency Ratio** | **2025** | **2024** |
| Net interest income | $144368 | $107098 |
| Total other income | 60426 | 59194 |
| Add: |  |  |
| Fair value adjustment for CRA equity security | (362) | (279) |
| Less: |  |  |
| Loss/(gain) on loans held for sale at lower of cost or fair value | 364 | (23) |
| Income from life insurance proceeds |  | (236) |
| Gain on securities sale, net | (7) |  |
| Gain on lease termination | (875) |  |
| Total recurring revenue | 203914 | 165754 |
| Operating expenses | 153630 | 127816 |
| Total operating expense | 153630 | 127816 |
| Efficiency ratio | 75.34% | 77.11% |

---

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## Exhibit 99.2

![Slide 1](pgc-ex99_2s1.jpg)

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

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![Slide 2](pgc-ex99_2s2.jpg)

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 PrivateThe Premier Alternative to the Mega Banks in Metropolitan New York $12.9B Wealth AUM $6.6B Deposits $6.0B Loans 14% ▲ 12% ▲ 14% ▲ CAGR Since 2012 Founded in 1921, Peapack Private is the boutique alternative to large banks in the Metropolitan New York region, delivering white glove service through a single point of contact model. Grounded in an established wealth franchise, Peapack Private has demonstrated the ability to scale and compete for over the past decade. Strategic expansion underway throughout Metropolitan NY began in 2023; headcount has increased by more than 30% over that time and performance continues to exceed expectations.

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![Slide 3](pgc-ex99_2s3.jpg)

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 expense normalization Efficiency ratio continues to improve on the heels of a fourth straight quarter of positive operating leverage3 Performance to date: 850+ new relationships $1.75 billion in deposits (28% NIB), average $2 million relationship size $924 million in loans (including commitments) Opened flagship NYC (Park Avenue) and Long Island (Garden City and Melville) locations Fully absorbed increase in operational expenses related to regional expansion Three experienced wealth advisors hired in the quarter Core relationship deposits4 have grown $708 million YTD (18% YTD annualized), strengthening the balance sheet and fueling loan growth For the quarter: Deposits grew $199 million; NIB up $86 million Loans grew $203 million, primarily in C&I Loan and deposit pipelines remain robust Wealth AUM/AUA reached a record $12.9B, up 5% QoQ Gross inflows of $214 million, $751 million YTD Nonperforming assets down 27% QoQ Past due loan levels remain low and manageable at 0.48% of total loans Continuing to actively manage problem credits with a focus on capital preservation Earnings Momentum Our Metropolitan NY Regional Expansion Balance Sheet Strength & Growing Wealth Management Prudent Credit Risk Management Third Quarter 2025 HighlightsDelivering Improved Earnings & Balance Sheet Growth $0.54 + 20% QoQ EPS + 54% YoY PPNR1 Growth Rate + 35% YoY NII Growth Rate - 27% QoQ Nonperforming Assets + 18% YTD Annualized Core Relationship Deposit4 Growth Rate + 12% YTD Annualized Loan Growth Rate See page 17 for notes and important information.

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![Slide 4](pgc-ex99_2s4.jpg)

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 core earnings growth of 53% (PPNR)1, leading to improved EPS and growth in TBVPS. Our recent growth has enabled consistent improvement in net interest income. Interest income is up $9.3 million (11%) as interest-earning assets increased by $629 million (9%). Interest expense is down $3.6 million (8%) year-over-year despite total deposits higher by $627 million (11%). Net income has recently been impacted by elevated credit costs tied to specific reserves on a few borrowers. ($ in millions, except per share data) See page 17 for notes and important information.

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![Slide 5](pgc-ex99_2s5.jpg)

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 $12.9 billion AUM/AUA wealth franchise, noninterest income continues to be a stable and significant source of revenue (28% of total revenue). Strong earnings performance has allowed us to aggressively address problem credits while delivering continued improvement in both EPS and TBVPS. ($ in millions, except per share data) See page 17 for notes and important information.

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![Slide 6](pgc-ex99_2s6.jpg)

Deposit TrendsConsistently 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 million year-to-date, net of a $93 million reduction in high-cost CDs. Noninterest-bearing deposits increased $86 million in Q3 and are up $244 million (23%) over the last twelve months. Newly funded deposits through the first 9 months of 2025 totaled $1.3 billion at a weighted average cost of 2.37%, substantially achieving our objective to remix borrowings, brokered, and less strategic deposits. $5.9 $6.1 $6.3 $6.4 23% NIB Growth over LTM ($ in billions) $6.6 See page 17 for notes and important information.

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![Slide 7](pgc-ex99_2s7.jpg)

Loan TrendsConsistent 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 a well diversified portfolio, with clients operating in 356 distinct industries. Diversified Across 356 NAICS Codes Gross Loans1: $6.0 billion $5.3 $5.5 $5.7 $5.8 $6.0 ($ in billions) 18% C&I Growth over LTM

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![Slide 8](pgc-ex99_2s8.jpg)

Incremental SpreadStrong 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 credit metrics from both a collateral and borrower/guarantors' perspective. Both loan and deposit pipelines remain robust. Loan Originations YTD Newly Funded Deposits YTD See page 17 for notes and important information.

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![Slide 9](pgc-ex99_2s9.jpg)

Net Interest IncomeConsistently 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 million (34%) year-over-year. Net interest margin increased 4 basis points on a linked-quarter basis and 47 basis points on a year-over-year basis to 2.81%. Incremental spread1 of 4.38% on new business year-to-date. See page 17 for notes and important information.

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![Slide 10](pgc-ex99_2s10.jpg)

Stable Fee RevenueDriven 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 $20 ($ in millions) 1 See page 17 for notes and important information.

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![Slide 11](pgc-ex99_2s11.jpg)

Wealth ManagementThe 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 $12.9 billion in assets under management and administration at quarter end, reflecting both organic client growth and market appreciation. High Value Client Relationships Average client relationship size of $4.5 million highlights Peapack Private's focus on high net worth and ultra high net worth individuals and families. Strong Profitability and Operating Leverage Delivered a 36% EBITDA margin in FY 2024, illustrating disciplined cost management and operating efficiency within a relationship-driven model. Comprehensive and Integrated Wealth Offering Peapack Private provides a holistic suite of services including financial planning, investment management, trust and fiduciary services, and estate and tax planning — all grounded in personalized advice. $47.2 YTD Revenue

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![Slide 12](pgc-ex99_2s12.jpg)

Balance Sheet StrengthA 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 ratio with 66% of total assets covered by available liquidity2. Funding capacity continues to increase with the addition of $150 million in customer deposits held off-balance sheet. Total Available Liquidity2: $4.9 billion See page 17 for notes and important information.

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![Slide 13](pgc-ex99_2s13.jpg)

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 Coverage of Total Loans of 1.14%. Troubled credit pipelines/metrics continue to be at manageable levels.

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![Slide 14](pgc-ex99_2s14.jpg)

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 remain strong. We are capitalizing on our affluent geographic market by delivering growth in wealth management and spread income. Continued expansion of our private banking business model, which is anchored by a valuable and scarce $12.9 billion AUM/AUA wealth management business. Ongoing expansion of our $2.7 billion commercial lending business and complementary treasury management platform and sell-side advisory services. We continue to attract and retain top-tier talent. Actively embracing artificial intelligence to drive operational efficiency and support the delivery of white glove customer service to our client by promoting utilization across the company with a focus on governance and innovation. Laser focused on cultivating and fostering a strong client-centric culture. ABA Best Banks To Work For seven years in a row. Crain's 2024 and 2025 Best Places to Work in NYC.

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![Slide 15](pgc-ex99_2s15.jpg)

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 expectations about financial results, new and existing programs and products, investments, relationships, opportunities and market conditions. These statements may be identified by such forward-looking terminology as "expect," "look," "believe," "anticipate," "may," or similar statements or variations of such terms. Actual results may differ materially from such forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to: 1) our ability to successfully grow our business and implement our strategic plan including our entry into New York City and Long Island, and our ability to generate revenues to offset the increased personnel and other costs related to the strategic plan; 2) the current or anticipated impact of military conflict, terrorism or other geopolitical events; 3) the impact of anticipated higher operating expenses in 2025 and beyond; 4) our ability to successfully integrate wealth management firm and team acquisitions; 5) our ability to manage our growth; 6) a decline in the economy, in particular in our New Jersey and New York market areas, including potential recessionary conditions; 7) declines in our net interest margin caused by the interest rate environment (including the shape of the yield curve) and our highly competitive market; 8) declines in the value in our investment portfolio; 9) higher than expected increases in our allowance for credit losses; 10) higher than expected increases in credit losses or in the level of nonperforming, classified or criticized loans or charge-offs; 11) changes in interest rates and the effects of inflation; 12) a decline in real estate values within our market areas; 13) legislative and regulatory actions; 14) changes in monetary policy by the Federal Reserve Board; 15) changes to tax or accounting matters; 16) successful cyberattacks against our IT infrastructure and that of our IT providers; 17) higher than expected FDIC insurance premiums; 18) adverse weather conditions; 19) a reduction in our lower-cost funding sources; 20) changes in liquidity, including the size and composition of our deposit portfolio and the percentage of uninsured deposits in the portfolio; 21) our ability to adapt to technological changes; 22) claims and litigation pertaining to fiduciary responsibility, environmental laws and other matters; 23) the imposition of tariffs or other domestic or international governmental policies and potential retaliatory responses; 24) the impact of the current federal government shutdown; 25) our ability to retain key employees; 26) demands for loans and deposits in our market areas; 27) adverse changes in securities markets; 28) changes in New York City rent regulation law; and 29) other unexpected material adverse changes in our operations or earnings. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations. Although we believe that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance or achievements.

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![Slide 16](pgc-ex99_2s16.jpg)

Appendices

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![Slide 17](pgc-ex99_2s17.jpg)

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. Operating Leverage is defined as the percentage change in total revenue less the percentage change in operating expense. Core relationship deposits defined as deposit relationships that are not custodial, brokered, or listing service. Quarterly Earnings Results slide See Non-GAAP Financial Measurement Reconciliation included in these appendices. See Non-GAAP Financial Measurement Reconciliation included in these appendices. Excellent Earnings Trajectory slide See Non-GAAP Financial Measurement Reconciliation included in these appendices. Deposit Trends slide Core relationship deposits defined as deposit relationships that are not custodial, brokered, or listing service. Loan Trends slide 1) Gross loans include loans held for sale. Incremental Spread slide 1) Newly funded deposits include deposits opened within the past twelve months, funded for the first time during the noted time period (year-to-date). 2) Origination volumes include funded loans and unfunded commitments. 3) 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. Net Interest Income slide 1) 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. Stable Fee Revenue slide 1) Capital Markets income consists of Corporate Advisory, Mortgage Banking, SBA Lending, and Back-to-Back Swap fee income. Balance Sheet Strength slide Core relationship deposits defined as deposit relationships that are not custodial, brokered, or listing service. Total available liquidity defined as cash plus cash equivalents plus unpledged available-for-sale securities plus borrowing capacity less borrowings, letters of credit, and pledged securities plus customer deposits held off balance sheet.

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![Slide 18](pgc-ex99_2s18.jpg)

Balance Sheet & AUM/AUA Summary

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![Slide 19](pgc-ex99_2s19.jpg)

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 September 30, 2025, a credit of $15,000 at December 31, 2024 and a credit of $3,000 at September 30, 2024 related to off-balance sheet commitments. 4) Includes charge-offs of $6.7 million related to three commercial mortgage loans and $11.3 million related to one equipment financing relationship for the quarter ended September 30, 2025. 5) Total ACL less reserves to loans individually evaluated equals collectively evaluated ACL.

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![Slide 20](pgc-ex99_2s20.jpg)

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 at quarter end. See Non-GAAP financial measures reconciliation included in these tables. 2) Tangible book value per share excludes intangible assets. Tangible book value per share is calculated by dividing tangible equity by quarter end common shares outstanding. See Non-GAAP financial measures reconciliation tables.

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![Slide 21](pgc-ex99_2s21.jpg)

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.

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![Slide 22](pgc-ex99_2s22.jpg)

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 these measures. However, these non-GAAP financial measures are supplemental and are not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies.

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![Slide 23](pgc-ex99_2s23.jpg)

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 these measures. However, these non-GAAP financial measures are supplemental and are not a substitute for an analysis based on GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. Pre-Provision Net Revenue ("PPNR") is a non-GAAP financial measure used by the Company to assess the earnings available to absorb credit losses and support capital from its core banking operations. PPNR is defined as: Net interest income (GAAP) + Noninterest income (GAAP) - Noninterest expense (GAAP)It excludes the provision for credit losses and income tax expense. PPNR is not a substitute for net income as reported under GAAP, and the calculation may differ from similarly-named measures at other institutions.

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![Slide 24](pgc-ex99_2s24.jpg)

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 jbabcock@peapackprivate.com Matthew P. Remo SVP \| Managing Principal – Treasurer & Head of Corporate Finance (908) 872-9899 mremo@peapackprivate.com CORPORATE HEADQUARTERS 500 Hills Drive, Suite 300 P.O. Box 700 Bedminster, New Jersey 07921 (908) 234-0700 peapackprivate.com