---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-046987"
form_type: "8-K"
ticker: "PGC"
cik: "0001050743"
company_name: "PEAPACK GLADSTONE FINANCIAL CORP"
filed_at: "2024-04-23T23:59:59+00:00"
generated_at: "2026-06-03T11:13:47.293689+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Peapack-Gladstone Q1 net income $8.6M ($0.48 EPS), down 53% YoY; NIM falls to 2.20%

## Summary
- Net income $8.6M, diluted EPS $0.48 vs $1.01 a year ago; revenue $53.1M, down 14% YoY.
- Net interest margin compressed to 2.20% from 2.88% a year ago; NII fell $9.6M YoY.
- Deposits grew $202.6M to $5.48B, loans decreased $73.7M; overnight borrowings cut by $284.3M.
- Nonperforming assets rose to $69.8M (1.09% of assets); past-due loans jumped to $73.7M (1.37% of loans).
- Wealth management AUM/AUA up to $11.5B; stock repurchased 100k shares for $2.4M; dividend $0.05.

## SEC filing metadata
- accession: 0000950170-24-046987
- form_type: 8-K
- ticker: PGC
- cik: 0001050743
- company_name: PEAPACK GLADSTONE FINANCIAL CORP
- filed_at: 2024-04-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1050743/000095017024046987/0000950170-24-046987-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1050743/000095017024046987/pgc-20240423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-046987
- JSON: https://secwatch.observer/filing/0000950170-24-046987.json
- Plain text: https://secwatch.observer/filing/0000950170-24-046987.txt

## Key facts
- Earnings Releases
  PEAPACK GLADSTONE FINANCIAL CORP reported the quarter ended March 31, 2024 results: revenue $53.1 million, net income $8.6 million, EPS $0.48.
  - Period: the quarter ended March 31, 2024
  - Revenue: $53.1 million
  - Net income: $8.6 million
  - EPS: $0.48
  - Result: reported results
  source text: website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov . The Company recorded total revenue of $53.1 million, net income of $8.6 million and diluted earnings per share (“EPS”) of $0.48 for the quarter ended March 31, 2024, compared to revenue of $62.0 million, net income of $18.4
  evidence_url: https://www.sec.gov/Archives/edgar/data/1050743/000095017024046987/0000950170-24-046987-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.