secwatch.observer — SEC 8-K summary
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Issuer:     PEAPACK GLADSTONE FINANCIAL CORP (PGC)
CIK:        0001050743
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0000950170-24-046987
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050743/000095017024046987/0000950170-24-046987-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050743/000095017024046987/pgc-20240423.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-046987

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