Peapack-Gladstone Financial Corporation (PGC) Financial Statements (2024 and earlier)

Company Profile

Business Address 500 HILLS DRIVE
BEDMINSTER, NJ 07921
State of Incorp. NJ
Fiscal Year End December 31
Industry (SIC) 6029 - Commercial Banks, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments200,837203,060161,489668,337218,919165,391
Cash and cash equivalents187,671190,075146,804653,220208,083160,672
Short-term investments13,16612,98514,68515,11710,8364,719
Total current assets:200,837203,060161,489668,337218,919165,391
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization2,0872,8353,5824,3305,078
Operating lease, right-of-use asset12,09612,8739,7759,42112,132
Property, plant and equipment24,16623,83123,04421,60920,91327,408
Intangible assets, net (including goodwill)46,01447,33348,90243,89140,58832,399
Goodwill36,21236,21236,21233,10330,20824,417
Intangible assets, net (excluding goodwill)9,80211,12112,69010,78810,3807,982
Deferred income tax assets505    
Total noncurrent assets:84,86886,87285,30379,25178,71159,807
Other undisclosed assets6,191,1526,063,6615,831,2015,142,8544,885,2494,392,660
TOTAL ASSETS:6,476,8576,353,5936,077,9935,890,4425,182,8794,617,858
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt403,814379,530 15,000128,1003,000
Total current liabilities:403,814379,530 15,000128,1003,000
Noncurrent Liabilities
Liabilities, other than long-term debt  15,43239,32232,978  
Deferred income tax liabilities  15,43239,32232,978 
Total noncurrent liabilities:  15,43239,32232,978  
Other undisclosed liabilities5,489,3625,425,6515,492,2835,315,3424,551,1274,145,845
Total liabilities:5,893,1765,820,6135,531,6055,363,3204,679,2274,148,845
Equity
Equity, attributable to parent, including:583,681532,980546,388527,122503,652469,013
Common stock17,83117,51317,22016,95816,73316,459
Treasury stock, value(110,320)(97,826)(65,104)(36,477)(29,990)(8,988)
Accumulated other comprehensive loss(64,878)(74,211)(12,374)(1,392)(1,495)(2,345)
Retained earnings394,094348,798274,288221,441199,029154,799
Other undisclosed equity, attributable to parent346,954338,706332,358326,592319,375309,088
Total equity:583,681532,980546,388527,122503,652469,013
TOTAL LIABILITIES AND EQUITY:6,476,8576,353,5936,077,9935,890,4425,182,8794,617,858

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues229,667242,497210,304189,362174,970159,356
Net investment income304,010211,875160,067165,750180,670159,686
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(14,091)(6,353)(6,475)(32,400)(4,000)(3,550)
Gross profit:215,576236,144203,829156,962170,970155,806
Operating expenses(19,733)(18,719)(17,165)(16,377)(14,735)(13,497)
Other operating expense, net
(Other Expenses)
(25,092)(22,993)(22,824)(19,882)(19,707)(19,344)
Operating income:170,751194,432163,840120,703136,528122,965
Interest and debt expense(147,921)(35,795)(22,006)(38,148)(60,396)(44,523)
Other undisclosed loss from continuing operations before equity method investments, income taxes    (50,552)(10,010)(20,722)
Income from continuing operations before equity method investments, income taxes:22,830158,637141,83432,00366,12257,720
Other undisclosed income (loss) from continuing operations before income taxes44,451(56,293)(64,172)   
Income from continuing operations before income taxes:67,281102,34477,66232,00366,12257,720
Income tax expense(18,427)(28,098)(21,040)(5,811)(18,688)(13,550)
Income from continuing operations:48,85474,24656,62226,19247,43444,170
Income before gain (loss) on sale of properties:56,62226,19247,43444,170
Net income available to common stockholders, diluted:48,85474,24656,62226,19247,43444,170

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:48,85474,24656,62226,19247,43444,170
Other comprehensive income (loss)11,179(93,463)(20,227)5,9625,305(1,260)
Comprehensive income (loss):60,033(19,217)36,39532,15452,73942,910
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1,846)31,6269,245(5,859)(4,455) 
Comprehensive income, net of tax, attributable to parent:58,18712,40945,64026,29548,28442,910

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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