Peapack-gladstone Bank Mortgage Rates, Fees & Info
Bedminster, NJLEI: 549300FZJCP0WM3QJH15
Tax ID: 22-2491488
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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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.29% | 4/21/24 |
| 30 Year Conventional Refi | 5.64% | 4/21/24 |
| 30 Year Cash-out Refi | 5.74% | 4/21/24 |
| 15 Year Conventional Purchase | 5.56% | 4/21/24 |
| 15 Year Conventional Refi | 5.79% | 4/21/24 |
| 15 Year Cash-out Refi | 5.79% | 4/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Peapack-gladstone Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
342Origination Dollar Volume (All Markets)
$204,760,000Employee count
409Awards
Peapack-Gladstone Bank - 2018
Peapack-Gladstone Bank is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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% |
Similar Lenders
We use machine learning to identify the top lenders compared against Peapack-Gladstone Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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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
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
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
2018 saw Peapack-gladstone Bank place emphasis on $200k-400k loans with 124 originations, totaling $36,120,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications93.98%
Peapack-gladstone Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.26%
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
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 |