Peapack-Gladstone Bank | Private Banking since 1921

In honor of Columbus Day, all bank locations will be closed on Monday, October 14, 2024. We will resume normal business hours on Tuesday, October 15, 2024. For your convenience, you can access your accounts anytime using Online or Mobile Banking. https://lnkd.in/gBVrXgCS https://lnkd.in/eY5c3nv4

Peapack Private's John Creamer reported that "the equity markets rallied on Friday, following stronger than expected employment data, to finish the week mixed. The non-farm payroll report for September exceeded expectations, with 254,000 jobs created compared to the consensus of 150,000, and there was a decrease in the unemployment rate from 4.2% to 4.1%. The previous report for August was also revised upward by 17,000 to 159,000 jobs... To read more of The Weekly Economic & Market Recap click: https://lnkd.in/et_4wY-R

On September 23, Homeless Solutions, Inc. Solutions hosted its 17th Annual Women’s Day at the Morris Country Golf Club in Convent Station. This event brought together women dedicated to supporting the organization’s mission of providing shelter, services, and supportive housing to the homeless and at-risk individuals in Morris County, NJ. Employees from Peapack Private participated in this charitable event which kicked off with a fitness activity followed by lunch and auction. All funds raised will help provide childcare for families in Homeless Solutions’ shelter programs.

The New York City team proudly partnered with Long Island City-based the Connected Chef. Our employees worked together to pack produce boxes, helping to provide affordable, local groceries to families in Queens, NY. The Connected Chef is dedicated to ensuring that every household has access to nutritious food on a weekly basis.

Happy Rosh Hashanah to all who celebrate.

The Bank proudly took part in the 2024 CityPickle X Robin Hood Pickleball Tournament held in Central Park on September 17. Robin Hood unites New Yorkers in the fight poverty against poverty by bringing together philanthropists, civil society organizations, government, businesses, nonprofits, community members, and those experiencing poverty. Together they develop and advance programs and policies to make the American Dream reality in New York City.

The Bank is proud to be a champion for #CybersecurityAwarenessMonth! All month long, we’ll be providing information on how to be safer and more secure online. #BeCyberSmart

We are thrilled to announce that John Kowal, SVP and Chief Technology Officer/Head of Analytics at Peapack-Gladstone Bank and Matthew Luczyk, SVP and Head of Corporate Advisory at Peapack Private Investment Banking, have been honored on NJBIZ’s 2024 People to Watch in Finance list. This prestigious recognition highlights individuals who have tackled challenging projects, driven groundbreaking innovations, or led teams to success. Congratulations to John and Matt on this well-deserved accolade! https://lnkd.in/gcPWKBpC

Peapack-Gladstone Financial Corporation (“the Company”) (NASDAQ Global Select Market:  PGC) reports today that Moody’s Investors Service (“Moody’s”) has confirmed investment grade ratings for both the Company and its banking subsidiary, Peapack-Gladstone Bank (“the Bank”). Moody’s has confirmed the Baa3 long term local currency issuer rating for the Company, and the baa2 baseline credit assessment (BCA) for the Bank. The outlooks on the long-term issuer rating of the Company and on the long-term deposits and issuer ratings of Peapack-Gladstone Bank have been changed to “stable” from ratings under review. These actions conclude the review for possible downgrade that was initiated back in June of this year.   Read more about the Bank's investment grade rating here: https://lnkd.in/e6X_4dBE

Peapack Private's John Creamer reported that "the main news in September was the change in monetary policy, with the Federal Reserve cutting rates for the first time since the early stages of the COVID-19 pandemic in March 2020. The shift has lowered the Fed funds rates to 4.75-5.00%, and the market is anticipating 50 bps more cuts by the end of the year. The September decision to slash rates by 50 bps is the Fed’s first 50+bps cut, excluding Covid, since the 2008 financial crisis. Economic data, including a cooling labor market and moderating inflation, were key drivers behind a 50‐bps cut. The decision was not unanimous with Governor Michelle Bowman dissenting in favor of a 25-bps cut... To read more of The Weekly Economic & Market Recap click: https://lnkd.in/ep-UqYDa