Peapack-Gladstone Q2 FY26 net income more than doubles to $15.97 million; revenue rises 23.39% to $86.05 million
PGC•Quarterly profit and revenue growth
Peapack-Gladstone posted Q2 net income available to common shareholders of USD 15.8 million, more than doubled from a year earlier; diluted EPS rose to USD 0.86.
Revenue climbed 23.39% to USD 86.1 million, driven by net interest income growth; net interest margin widened 55 percentage points to 3.32%.
Expenses, credit losses and deposit trends
Operating expenses increased 7.27% to USD 55.7 million; provision for credit losses rose 22.81% to USD 8.1 million.
Wealth management fee income increased 8.01% to USD 17.2 million, representing 20% of total revenue.
Deposits grew USD 230.8 million in the quarter, including USD 79.7 million in noninterest-bearing demand deposits; uninsured/unprotected deposits were USD 2.44 billion at quarter-end.
