Peapack Capital Originates More Than $300 Million in 2019

Company Release - 2/10/2020 12:38 PM ET

Bedminster, NJ, Feb. 10, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack-Gladstone Bank are proud to announce that Peapack Capital, the equipment leasing subsidiary of Peapack-Gladstone Bank, funded equipment finance transactions totaling $305 million for commercial and corporate clients in 2019. Total earning assets grew to more than $650 million as of December 31, 2019, an increase of 63% over the prior year.

Peapack Capital
Robert R. Cobleigh, Executive Vice President, President of Peapack Capital


Headquartered in Bedminster, New Jersey, Peapack Capital was founded in April 2017 and is led by Robert R. Cobleigh, President, who stated, “Our achievements thus far, and our commitment to serving our clients and partners, is a testament to the skill and efforts of the Peapack Capital team, who provide a best-in-class client experience. We thank all our clients and partners for entrusting their business to us.”

Peapack Capital provides equipment and asset financing from $3 million to $30 million to middle market and large corporate clients across the U.S.  The team specializes in large-scale transactions which help businesses grow and succeed.  With more than 20 years of experience, the Peapack Capital team is a dedicated finance group, experts in various financing structures, able to support a broad spectrum of industries and assets.

ABOUT PEAPACK-GLADSTONE BANK

Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $5.2 billion and assets under management and/or administration of $7.5 billion as of December 31, 2019.  Founded in 1921, Peapack-Gladstone Bank is a commercial bank that provides innovative wealth management, commercial and retail solutions, including residential lending and online platforms, to businesses and consumers.  Peapack Private, 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.  Together, Peapack-Gladstone Bank and Peapack Private offer an unparalleled commitment to client service.  Visit www.pgbank.com and www.peapackprivate.com for more information.

Contact:  Rosanne Schwab, Peapack-Gladstone Bank, Assistant Vice President, Public Relations and Corporate Communications Manager, 500 Hills Drive, Suite 300, Bedminster, NJ  07921 [email protected], (908) 719-6543.

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Source: Peapack-Gladstone Financial Corporation