Peapack-Gladstone Financial Corporation has secured a $50 million preferred stock commitment from affiliates of Strategic Value Bank Partners, consisting of an initial $30 million private placement and an option to issue up to $20 million more through December 31, 2027. The non-cumulative perpetual preferred shares carry a 6.00% annual dividend, are non-callable for the first five years and then redeemable under specified terms, and qualify as Tier 1 capital; they become convertible into common stock at the holder’s option after five years. Proceeds will bolster the bank’s capital base to support organic growth, potential acquisitions and debt reduction, aligning with management’s disciplined capital strategy and ongoing expansion in the New York metropolitan market.