Peapack-Gladstone Financial reported FY 2025 net income of USD 37.33 million, up 13%, with diluted EPS of USD 2.10, up 14%. FY 2025 net interest income was USD 200.91 million, up 35%, and net interest margin was 2.84%, up 52 basis points. FY 2025 provision for credit losses was USD 23.52 million, tripled, while net charge-offs to average loans plus other real estate owned were 0.44%. At Dec. 31, 2025, total loans were USD 6.25 billion, up 13%, and total deposits were USD 6.59 billion, up 8%. Management said the FY 2025 net income increase was driven by higher net interest income, partly offset by higher credit loss provision and operating expenses tied to its expansion into the metro New York City market, which it said continues to support growth in lower-cost core deposit relationships.
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