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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments203,060161,489668,337218,919165,391113,346
Cash and cash equivalents190,075146,804653,220208,083160,672113,346
Short-term investments12,98514,68515,11710,8364,719 
Total current assets:203,060161,489668,337218,919165,391113,346
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization2,8353,5824,3305,078
Operating lease, right-of-use asset12,8739,7759,42112,132
Property, plant and equipment23,83123,04421,60920,91327,40829,476
Intangible assets, net (including goodwill)47,33348,90243,89140,58832,39923,836
Goodwill36,21236,21233,10330,20824,41717,107
Intangible assets, net (excluding goodwill)11,12112,69010,78810,3807,9826,729
Deferred income tax assets    
Total noncurrent assets:86,87285,30379,25178,71159,80753,312
Other undisclosed assets6,063,6615,831,2015,142,8544,885,2494,392,6604,093,889
TOTAL ASSETS:6,353,5936,077,9935,890,4425,182,8794,617,8584,260,547
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt379,530 15,000128,1003,000 
Total current liabilities:379,530 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 liabilities5,425,6515,492,2835,315,3424,551,1274,145,8453,856,869
Total liabilities:5,820,6135,531,6055,363,3204,679,2274,148,8453,856,869
Equity
Equity, attributable to parent, including:532,980546,388527,122503,652469,013403,678
Common stock17,51317,22016,95816,73316,45915,858
Treasury stock, value(97,826)(65,104)(36,477)(29,990)(8,988)(8,988)
Accumulated other comprehensive loss(74,211)(12,374)(1,392)(1,495)(2,345)(1,212)
Retained earnings348,798274,288221,441199,029154,799114,468
Other undisclosed equity, attributable to parent338,706332,358326,592319,375309,088283,552
Total equity:532,980546,388527,122503,652469,013403,678
TOTAL LIABILITIES AND EQUITY:6,353,5936,077,9935,890,4425,182,8794,617,8584,260,547

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues242,497210,304189,362174,970159,356145,768
Net investment income211,875160,067165,750180,670159,686138,727
Financial services revenue24,747
Cost of revenue(6,353)(6,475)(32,400)(4,000)(3,550)(5,850)
Provision for loan, lease, and other losses(6,353)(6,475)(32,400)(4,000)(3,550)
Financial services costs(5,850)
Gross profit:236,144203,829156,962170,970155,806139,918
Operating expenses(18,719)(17,165)(16,377)(14,735)(13,497)(65,944)
Other operating expense, net
(Other Expenses)
(22,993)(22,824)(19,882)(19,707)(19,344)(17,301)
Operating income:194,432163,840120,703136,528122,96556,673
Interest and debt expense(35,795)(22,006)(38,148)(60,396)(44,523)(27,586)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes   (50,552)(10,010)(20,722)25,220
Income from continuing operations before equity method investments, income taxes:158,637141,83432,00366,12257,72054,307
Other undisclosed income (loss) from continuing operations before income taxes(56,293)(64,172)    
Income from continuing operations before income taxes:102,34477,66232,00366,12257,72054,307
Income tax expense(28,098)(21,040)(5,811)(18,688)(13,550)(17,810)
Income from continuing operations:74,24656,62226,19247,43444,17036,497
Income before gain (loss) on sale of properties:56,62226,19247,43444,17036,497
Net income available to common stockholders, diluted:74,24656,62226,19247,43444,17036,497

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:74,24656,62226,19247,43444,17036,497
Other comprehensive income (loss)(93,463)(20,227)5,9625,305(1,260)534
Comprehensive income (loss):(19,217)36,39532,15452,73942,91037,031
Other undisclosed comprehensive income (loss), net of tax, attributable to parent31,6269,245(5,859)(4,455)  
Comprehensive income, net of tax, attributable to parent:12,40945,64026,29548,28442,91037,031

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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