Peapack-Gladstone Financial Reports Strong Q3 2026 Results with Record Revenue and Improved Efficiency
Peapack-Gladstone Financial Corporation (PGC) reported robust third-quarter 2026 results, marked by its tenth consecutive quarter of revenue growth. Total revenue reached $87.5 million, a 24% increase year-over-year, driven largely by a 33% surge in net interest income. Net income available to common shareholders rose significantly by 83% compared to the previous year, reaching $18.5 million. The company demonstrated improved operational efficiency, with its GAAP efficiency ratio dropping to 63.03% from 73.98% a year prior. Growth was supported by a diversified loan portfolio and a strategic reduction in New York rent-regulated multifamily loans. While management noted that sustained high interest rates could pressure funding costs, the bank maintains strong liquidity and is leveraging AI technology to automate complex processes and manage operating expenses.
Tickers: $PGC
Topics: loan portfolio net income net interest margin revenue growth wealth management