Peapack-gladstone Bank Mortgage Rates, Fees & Info

Bedminster, NJ

LEI: 549300FZJCP0WM3QJH15

Tax ID: 22-2491488

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Peapack-gladstone Bank is a smaller bank specializing in Home Purchase and Refi loans. Peapack-gladstone Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Miami, Ocean City, and Cape Coral among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

Peapack-gladstone Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Peapack-gladstone Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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Originations

342

Origination Dollar Volume (All Markets)

$204,760,000

Employee count

409

Awards

Peapack-Gladstone Bank 30 Year Conventional Loans gold

Show all (3) awards

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market	Originations	Total Value	Average Loan	Average Fees	Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	303	$121,795,000	$401,964	$3,655	3.90%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	11	$62,845,000	$5,713,182	$4,618	4.12%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	4	$8,260,000	$2,065,000	$12,673	3.59%
Outside of Metro Areas	3	$3,125,000	$1,041,667	$5,052	4.00%
OCEAN CITY, NJ (FHA\|USDA\|VA)	2	$1,820,000	$910,000	$5,101	4.13%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	1	$1,005,000	$1,005,000	$7,888	4.75%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA\|USDA\|VA)	2	$1,000,000	$500,000	$4,535	4.06%
TRENTON-PRINCETON, NJ (FHA\|USDA\|VA)	3	$715,000	$238,333	$3,362	4.92%
BOULDER, CO (FHA\|USDA\|VA)	1	$625,000	$625,000	$4,096	4.00%
RENO, NV (FHA\|USDA\|VA)	1	$605,000	$605,000	$4,525	3.25%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA\|USDA\|VA)	1	$605,000	$605,000	$2,006	4.88%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$405,000	$405,000	$3,144	3.63%
Boston-Cambridge-Newton, MA-NH (FHA\|USDA\|VA)	1	$395,000	$395,000	$4,745	3.88%
ASHEVILLE, NC (FHA\|USDA\|VA)	1	$315,000	$315,000	$3,077	4.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA\|USDA\|VA)	1	$295,000	$295,000	$3,055	3.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	2	$290,000	$145,000	$2,944	5.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	1	$205,000	$205,000	$3,559	4.88%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$175,000	$175,000	$3,748	4.25%
ATLANTIC CITY-HAMMONTON, NJ (FHA\|USDA\|VA)	1	$155,000	$155,000	$3,011	3.88%
EAST STROUDSBURG, PA (FHA\|USDA\|VA)	1	$125,000	$125,000	$3,310	4.38%

Peapack-gladstone Bank's top markets include New York, Philadelphia, Miami, Ocean City, and Cape Coral among others.

Their top states include:

New Jersey (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

Delaware (FHA|USDA|VA)

New York (FHA|USDA|VA)

Florida (FHA|USDA|VA)

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	342	$204,760,000	$598,713	$3,807	3.92%

For 2018, Peapack-gladstone Bank's most frequently originated type of loan was Conventional, with 342 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	210	$71,410,000	$340,048	$4,260	3.81%
Cash Out Refi	50	$22,170,000	$443,400	$4,310	3.96%
Refi	42	$89,440,000	$2,129,524	$2,124	4.02%
Other	24	$10,570,000	$440,417	$3,182	4.55%
Home Improvement	16	$11,170,000	$698,125	$48	4.18%

For 2018, Peapack-gladstone Bank's most frequently cited loan purpose was Home Purchase, with 210 originations. The 2nd most popular reason was Cash Out Refi, with 50 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	254	$87,880,000	$345,984	$4,106	3.82%
10 Year	34	$17,000,000	$500,000	$29	4.36%
15 Year	21	$5,465,000	$260,238	$3,711	3.63%
Other	12	$66,880,000	$5,573,333	$3,747	5.58%
5 Year	11	$22,265,000	$2,024,091	$0	3.65%
20 Year	7	$1,955,000	$279,286	$3,719	3.89%
30+ year	2	$3,010,000	$1,505,000	$22,273	4.00%
1 Year	1	$305,000	$305,000	$0	3.88%

For 2018, Peapack-gladstone Bank's most frequently cited loan duration was 30 Year, with 254 originations. The 2nd most popular length was 10 Year, with 34 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	307	$96,965,000	$315,847
$2k-3k	5	$1,385,000	$277,000
$5k+	4	$4,330,000	$1,082,500
$1k-2k	3	$765,000	$255,000

Peapack-gladstone Bank's average total fees were $4,106, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 307 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	204	$137,290,000	$672,990
4-5%	105	$51,035,000	$486,048
2.5-3%	15	$2,725,000	$181,667
5-6%	12	$11,320,000	$943,333
6-7%	6	$2,390,000	$398,333

During 2018, Peapack-gladstone Bank's average interest rate for loans was 3.82%, while their most frequently originated rate bucket for loans was 3-4%, with 204 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	124	$36,120,000	$291,290	$3,935	3.96%
$100k-200k	86	$13,010,000	$151,279	$2,948	3.68%
$100,000 or less	49	$3,415,000	$69,694	$1,592	3.83%
$400k-600k	40	$18,650,000	$466,250	$4,971	4.13%
$1MM+	28	$122,720,000	$4,382,857	$10,519	4.11%
$600k-1MM	15	$10,845,000	$723,000	$5,281	4.41%

2018 saw Peapack-gladstone Bank place emphasis on $200k-400k loans with 124 originations, totaling $36,120,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	82	$16,880,000	$205,854	$3,393	3.61%
$50k or less	51	$6,595,000	$129,314	$2,998	3.62%
$100k-150k	43	$12,175,000	$283,140	$3,293	4.11%
$75k-100k	41	$11,575,000	$282,317	$3,955	3.78%
$250k+	37	$28,205,000	$762,297	$5,914	4.06%
$150k-250k	35	$11,215,000	$320,429	$3,449	4.33%

Peapack-gladstone Bank lent most frequently to those with incomes in the $50k-75k range, with 82 originations. The second most popular income band? $50k or less, with 51 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	63	$24,495,000	$388,810	$4,371	3.83%
30-36%	56	$16,490,000	$294,464	$3,682	3.78%
40%	20	$5,170,000	$258,500	$3,726	3.96%
42%	20	$6,200,000	$310,000	$3,843	3.89%
<20%	19	$8,455,000	$445,000	$3,720	3.94%
44%	17	$4,535,000	$266,765	$3,014	3.93%
37%	16	$5,730,000	$358,125	$4,074	3.73%
38%	15	$4,345,000	$289,667	$3,782	3.73%
39%	12	$3,750,000	$312,500	$3,356	3.92%
41%	12	$2,220,000	$185,000	$3,486	3.69%
47%	12	$3,330,000	$277,500	$3,726	3.69%
45%	10	$2,350,000	$235,000	$3,087	3.90%
36%	9	$3,475,000	$386,111	$3,679	3.97%
48%	8	$2,640,000	$330,000	$4,416	4.14%
49%	8	$3,540,000	$442,500	$3,844	3.86%
43%	7	$1,725,000	$246,429	$3,434	3.71%
46%	7	$2,195,000	$313,571	$3,975	3.55%
>60%	5	$2,135,000	$427,000	$3,962	6.45%
50-60%	2	$520,000	$260,000	$3,153	4.38%

Peapack-gladstone Bank lent most frequently to those with DTI ratios of 20-30%, with 63 originations. The next most common DTI ratio? 30-36%, with 56 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	43	$115,635,000	$2,689,186	$5,157	4.35%
White	237	$70,895,000	$299,135	$3,798	3.89%
Asian	13	$8,605,000	$661,923	$5,036	3.62%
Not provided	27	$5,705,000	$211,296	$2,934	3.85%
Black	17	$3,225,000	$189,706	$3,396	3.68%
Asian Indian	4	$600,000	$150,000	$1,477	3.88%
American Indian	1	$95,000	$95,000	$2,887	4.00%

Approval Rates

Total approvals of all applications
93.98%

Peapack-gladstone Bank has an average approval rate.

Pick Rate

Approvals leading to origination
86.26%

Peapack-gladstone Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	342	$204,760,000	$598,713

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	16	$99,270,000	$6,204,375
Single Family (1-4 Units):Site-Built	326	$105,490,000	$323,589

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	24	$10,960,000	$456,667	$2,659	3.99%
40-60%	40	$43,830,000	$1,095,750	$4,523	4.05%
60-80%	105	$107,285,000	$1,021,762	$4,514	4.13%
80-100%	145	$38,305,000	$264,172	$3,918	3.70%
Over 100%	1	$645,000	$645,000	$0	5.00%
Under 20%	27	$3,735,000	$138,333	$774	4.07%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Peapack-Gladstone Bank	11 Pottersville Road Pottersville, NJ 7979	Full Service B&M	$31,286
Peapack-Gladstone Bank	169 Lamington Road Oldwick, NJ 8858	Full Service B&M	$102,836
Peapack-Gladstone Bank	17 East Main Street Mendham, NJ 7945	Full Service B&M	$148,126
Peapack-Gladstone Bank	189 Center St Clinton, NJ 8809	Full Service B&M	$133,117
Peapack-Gladstone Bank	233 South Street Morristown, NJ 7960	Full Service B&M	$253,778
Peapack-Gladstone Bank	26 Dumont Road Far Hills, NJ 7931	Full Service B&M	$79,739
Peapack-Gladstone Bank	278 Green Village Road Green Village, NJ 7935	Full Service B&M	$178,365
Peapack-Gladstone Bank	311 Main Street Chatham, NJ 7928	Full Service B&M	$85,915
Peapack-Gladstone Bank	350 Main Street Chester, NJ 7930	Full Service B&M	$92,662
Peapack-Gladstone Bank	36 Morristown Road Bernardsville, NJ 7924	Full Service B&M	$212,447
Peapack-Gladstone Bank	417 Route 206 North Hillsborough, NJ 8844	Full Service B&M	$145,701
Peapack-Gladstone Bank	438 High Bridge-Califon Road Califon, NJ 7830	Full Service B&M	$82,978
Peapack-Gladstone Bank	468 Route 206 North Bedminster, NJ 7921	Full Service B&M	$335,667
Peapack-Gladstone Bank	48 Deforest Avenue Summit, NJ 7901	Full Service B&M	$176,191
Peapack-Gladstone Bank	500 Hills Drive Suite 300 Bedminster, NJ 7921	Full Service B&M	$1,058,685
Peapack-Gladstone Bank	531 Us Highway 22 East Whitehouse Station, NJ 8889	Full Service B&M	$62,406
Peapack-Gladstone Bank	58 Mountain Boulevard Warren, NJ 7059	Full Service B&M	$127,808
Peapack-Gladstone Bank	59 East Mill Road Long Valley, NJ 7853	Full Service B&M	$116,298
Peapack-Gladstone Bank	619 East Main Street Bridgewater, NJ 8807	Full Service B&M	$98,223
Peapack-Gladstone Bank	8000 Fellowship Road Basking Ridge, NJ 7920	Full Service B&M	$14,587

For 2018, Peapack-gladstone Bank had 20 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$159,685
Net interest income	$120,045
Total noninterest income	$44,587
Gross Fiduciary activities income	$32,357
Service charges on deposit accounts	$1,667
Trading account gains and fees	$0
Additional Noninterest Income	$10,563
Pre-tax net operating income	$63,476
Securities gains (or losses, -)	$-393
Income before extraordinary items	$48,410
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$48,410
Minority interest net income	$0
Net income	$48,410
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$48,720

Peapack-gladstone Bank's gross interest income from loans was $159,685,000.
Peapack-gladstone Bank's net interest income from loans was $120,045,000.
Peapack-gladstone Bank's fee based income from loans was $1,667,000.
Peapack-gladstone Bank's net income from loans was $48,410,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$39,640
Provision for credit losses	$3,550
Total noninterest expense	$97,606
Salaries and employee benefits	$62,802
Premises and equipment expense	$13,497
Additional noninterest expense	$21,307
Applicable income taxes	$14,673
Net charge-offs	$1,486
Cash dividends	$0

Peapack-gladstone Bank's interest expense for loans was $39,640,000.
Peapack-gladstone Bank's payroll and benefits expense were $62,802,000.
Peapack-gladstone Bank's property, plant and equipment expenses $13,497,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	1.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$3,908,828
Deposits held in domestic offices	$3,908,828
Deposits by Individuals, partnerships, and corporations	$3,699,247
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$209,581
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$961,708
Demand deposits	$154,174
Nontransaction accounts	$2,947,120
Money market deposit accounts (MMDAs)	$2,186,380
Other savings deposits (excluding MMDAs)	$114,674
Total time deposits	$646,066
Total time and savings deposits	$3,754,654
Noninterest-bearing deposits	$476,897
Interest-bearing deposits	$3,431,931
Retail deposits	$3,512,376
IRAs and Keogh plan accounts	$55,524
Brokered deposits	$236,549
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$4,614,125
Cash & Balances due from depository institutions	$160,672
Interest-bearing balances	$154,758
Total securities	$382,655
Federal funds sold & reverse repurchase	$101
Net loans and leases	$3,894,545
Loan and leases loss allowance	$38,504
Trading account assets	$0
Bank premises and fixed assets	$27,408
Other real estate owned	$0
Goodwill and other intangibles	$33,210
All other assets	$115,534

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$4,614,125
Total Liabilities	$4,078,807
Total deposits	$3,908,828
Interest-bearing deposits	$3,431,931
Deposits held in domestic offices	$3,908,828
% insured (estimated)	$81
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$116,362
Subordinated debt	$0
All other liabilities	$53,617

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$3,894,545
Loan and leases loss allowance	$38,504
Total loans and leases (domestic)	$3,933,049
All real estate loans	$3,077,227
Real estate loans in domestic offices	$3,077,227
Construction and development loans	$2,393
Residential 1-4 family construction	$2,306
Other construction, all land development and other land	$87
Loans secured by nonfarm nonresidential properties	$1,263,309
Nonfarm nonresidential secured by owner-occupied properties	$261,193
Commercial real estate & other non-farm, non-residential	$1,002,116
Multifamily residential real estate	$1,138,190
1-4 family residential loans	$673,186
Farmland loans	$149
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$601,672
To non-U.S. addressees	$0
Loans to individuals	$42,642
Credit card loans	$0
Related Plans	$42,134
Consumer Auto Loans	$27
Other loans to individuals	$481
All other loans & leases	$211,508
Loans to foreign governments and official institutions	$0
Other loans	$23,303
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$4,303
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Peapack-Gladstone Bank had $3,894,545,000 of loans outstanding in 2018. $3,077,227,000 of loans were in real estate loans. $2,393,000 of loans were in development loans. $1,138,190,000 of loans were in multifamily mortgage loans. $673,186,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $27,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	221	$61,512	$278,335
Nonfarm, nonresidential loans - <$100k	16	$446	$27,875
Nonfarm, nonresidential loans - $100-250k	56	$6,288	$112,286
Nonfarm, nonresidential loans - $250k-1MM	149	$54,778	$367,638
Commercial & Industrial, US addressed loans - <$1MM	266	$31,215	$117,350
Commercial & Industrial, US addressed loans - <$100k	110	$2,265	$20,591
Commercial & Industrial, US addressed loans - $100-250k	49	$3,553	$72,510
Commercial & Industrial, US addressed loans - $250k-1MM	107	$25,397	$237,355
Farmland loans - <$1MM	1	$149	$149,000
Farmland loans - $250k-1MM	1	$149	$149,000