SOURCE: Peapack-Gladstone Financial Corporation

Peapack-Gladstone Financial Corporation

June 09, 2016 12:24 ET

Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank Receive Investment Grade Ratings From Kroll Bond Rating Agency

BEDMINSTER, NJ--(Marketwired - Jun 9, 2016) - Peapack-Gladstone Financial Corporation ("the Company") (NASDAQ: PGC) reported today that Kroll Bond Rating Agency ("KBRA") has assigned investment grade ratings to both the Company and the Company's banking subsidiary, Peapack-Gladstone Bank ("the Bank"). Additionally, a deposit rating of BBB+ was assigned to the Bank. The outlook on all ratings was reported as "stable."

The factors driving this assessment included the Bank's strong management team and favorable asset quality trends, along with the Company's diverse revenue streams and the variety of products and solutions offered to its client base.

The Company and the Bank were evaluated using a scoring model that focuses on several key quantitative determinants, as well as several key qualitative determinants. One such qualitative determinant was Market Strategy, where the Company scored above average, solidifying its growth strategy and value centered vision of being a high performing boutique bank, leaders in wealth, lending and deposit solutions, known nationally for unparalleled client service, integrity and trust. KBRA also noted the Bank's leadership has an extensive amount of experience and industry knowledge.

Ratings are based on KBRA's Global Bank and Bank Holding Company Rating Methodology, published on January 28, 2015.

View the full KBRA report.

About Peapack-Gladstone Financial Corporation and Peapack-Gladstone Bank

Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $3.47 billion as of March 31, 2016. Founded in 1921, Peapack-Gladstone Bank is a commercial bank that provides innovative private banking services to businesses, non-profits and consumers, which help them to establish, maintain and expand their legacy. Through its private banking locations in Bedminster, Morristown, Princeton and Teaneck, its wealth management, commercial private banking and retail private banking divisions and its online platforms, Peapack-Gladstone Bank offers an unparalleled commitment to client service.

Contact Information

  • Peapack-Gladstone Financial Corporation
    Denise Pace-Sanders
    Peapack-Gladstone Bank
    Vice President, Brand and Marketing Director
    500 Hills Drive, Suite 300
    Bedminster, NJ 07921
    dpace@pgbank.com
    (908) 470-3322