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 Refi loans. Peapack-gladstone Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Allentown, Poughkeepsie, and Miami among others. We have data for 18 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.

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Originations

414

Origination Dollar Volume (All Markets)

$492,740,000

Employee count

446

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)	370	$374,910,000	$1,013,270	$0	0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	10	$71,050,000	$7,105,000	$0	0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	7	$23,185,000	$3,312,143	$0	0.00%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA\|USDA\|VA)	2	$8,910,000	$4,455,000	$0	0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	9	$4,705,000	$522,778	$0	0.00%
Outside of Metro Areas	1	$2,075,000	$2,075,000	$0	0.00%
OCEAN CITY, NJ (FHA\|USDA\|VA)	1	$1,585,000	$1,585,000	$0	0.00%
San Francisco-Oakland-Berkeley, CA (FHA\|USDA\|VA)	1	$1,505,000	$1,505,000	$0	0.00%
TRENTON-PRINCETON, NJ (FHA\|USDA\|VA)	2	$850,000	$425,000	$0	0.00%
Torrington, CT (FHA\|USDA\|VA)	1	$805,000	$805,000	$0	0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	2	$630,000	$315,000	$0	0.00%
Augusta-Waterville, ME (FHA\|USDA\|VA)	1	$545,000	$545,000	$0	0.00%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$545,000	$545,000	$0	0.00%
EAST STROUDSBURG, PA (FHA\|USDA\|VA)	2	$440,000	$220,000	$0	0.00%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$395,000	$395,000	$0	0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA\|USDA\|VA)	1	$295,000	$295,000	$0	0.00%
PITTSBURGH, PA (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	0.00%
SALT LAKE CITY, UT (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	0.00%

Peapack-gladstone Bank's top markets include New York, Philadelphia, Allentown, Poughkeepsie, and Miami among others.

Their top states include:

New Jersey (FHA|USDA|VA)

New York (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

Delaware (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	414	$492,740,000	$1,190,193	$0	0.00%

For 2019, Peapack-gladstone Bank's most frequently originated type of loan was Conventional, with 414 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	197	$76,045,000	$386,015	$0	0.00%
Refi	130	$385,690,000	$2,966,846	$0	0.00%
Cash Out Refi	55	$23,365,000	$424,818	$0	0.00%
Other	18	$5,260,000	$292,222	$0	0.00%
Home Improvement	14	$2,380,000	$170,000	$0	0.00%

For 2019, Peapack-gladstone Bank's most frequently cited loan purpose was Home Purchase, with 197 originations. The 2nd most popular reason was Refi, with 130 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	414	$492,740,000	$1,190,193	$0	0.00%

For 2019, Peapack-gladstone Bank's most frequently cited loan duration was Other, with 414 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	169	$49,645,000	$293,757	$0	0.00%
$100k-200k	69	$10,165,000	$147,319	$0	0.00%
$1MM+	68	$390,310,000	$5,739,853	$0	0.00%
$400k-600k	62	$28,900,000	$466,129	$0	0.00%
$100,000 or less	29	$1,755,000	$60,517	$0	0.00%
$600k-1MM	17	$11,965,000	$703,824	$0	0.00%

2019 saw Peapack-gladstone Bank place emphasis on $200k-400k loans with 169 originations, totaling $49,645,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	66	$19,780,000	$299,697	$0	0.00%
$75k-100k	63	$18,455,000	$292,937	$0	0.00%
$50k-75k	60	$12,500,000	$208,333	$0	0.00%
$150k-250k	52	$18,790,000	$361,346	$0	0.00%
$250k+	39	$28,025,000	$718,590	$0	0.00%
$50k or less	26	$3,120,000	$120,000	$0	0.00%

Peapack-gladstone Bank lent most frequently to those with incomes in the $100k-150k range, with 66 originations. The second most popular income band? $75k-100k, with 63 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	414	$492,740,000	$1,190,193	$0	0.00%

Peapack-gladstone Bank lent most frequently to those with DTI ratios of Exempt%, with 414 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	100	$390,100,000	$3,901,000	$0	0.00%
White	269	$88,825,000	$330,204	$0	0.00%
Not provided	23	$7,465,000	$324,565	$0	0.00%
Black	15	$4,385,000	$292,333	$0	0.00%
Asian	6	$1,630,000	$271,667	$0	0.00%
American Indian	1	$335,000	$335,000	$0	0.00%

Approval Rates

Total approvals of all applications
96.35%

Peapack-gladstone Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
82.85%

Peapack-gladstone Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	414	$492,740,000	$1,190,193

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	2	$20,810,000	$10,405,000
Multifamily:Site-Built	58	$351,120,000	$6,053,793
Single Family (1-4 Units):Site-Built	354	$120,810,000	$341,271

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Peapack-Gladstone Bank	11 Pottersville Road Pottersville, NJ 7979	Full Service B&M	$32,810
Peapack-Gladstone Bank	169 Lamington Road Oldwick, NJ 8858	Full Service B&M	$121,017
Peapack-Gladstone Bank	17 East Main Street Mendham, NJ 7945	Full Service B&M	$175,201
Peapack-Gladstone Bank	189 Center St Clinton, NJ 8809	Full Service B&M	$135,471
Peapack-Gladstone Bank	233 South Street Morristown, NJ 7960	Full Service B&M	$336,535
Peapack-Gladstone Bank	26 Dumont Road Far Hills, NJ 7931	Full Service B&M	$73,747
Peapack-Gladstone Bank	278 Green Village Road Green Village, NJ 7935	Full Service B&M	$194,838
Peapack-Gladstone Bank	311 Main Street Chatham, NJ 7928	Full Service B&M	$93,484
Peapack-Gladstone Bank	350 Main Street Chester, NJ 7930	Full Service B&M	$100,397
Peapack-Gladstone Bank	36 Morristown Road Bernardsville, NJ 7924	Full Service B&M	$207,738
Peapack-Gladstone Bank	417 Route 206 North Hillsborough, NJ 8844	Full Service B&M	$169,044
Peapack-Gladstone Bank	438 High Bridge-Califon Road Califon, NJ 7830	Full Service B&M	$90,379
Peapack-Gladstone Bank	468 Route 206 North Bedminster, NJ 7921	Full Service B&M	$436,669
Peapack-Gladstone Bank	48 Deforest Avenue Summit, NJ 7901	Full Service B&M	$221,172
Peapack-Gladstone Bank	500 Hills Drive Suite 300 Bedminster, NJ 7921	Full Service B&M	$1,206,772
Peapack-Gladstone Bank	531 Us Highway 22 East Whitehouse Station, NJ 8889	Full Service B&M	$67,782
Peapack-Gladstone Bank	58 Mountain Boulevard Warren, NJ 7059	Full Service B&M	$187,815
Peapack-Gladstone Bank	59 East Mill Road Long Valley, NJ 7853	Full Service B&M	$127,199
Peapack-Gladstone Bank	619 East Main Street Bridgewater, NJ 8807	Full Service B&M	$111,021
Peapack-Gladstone Bank	8000 Fellowship Road Basking Ridge, NJ 7920	Full Service B&M	$15,365

For 2019, Peapack-gladstone Bank had 20 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$180,670
Net interest income	$125,163
Total noninterest income	$54,581
Gross Fiduciary activities income	$37,509
Service charges on deposit accounts	$1,692
Trading account gains and fees	$0
Additional Noninterest Income	$15,380
Pre-tax net operating income	$71,615
Securities gains (or losses, -)	$117
Income before extraordinary items	$51,866
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$51,866
Minority interest net income	$0
Net income	$51,866
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$51,773

Peapack-gladstone Bank's gross interest income from loans was $180,670,000.
Peapack-gladstone Bank's net interest income from loans was $125,163,000.
Peapack-gladstone Bank's fee based income from loans was $1,692,000.
Peapack-gladstone Bank's net income from loans was $51,866,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$55,507
Provision for credit losses	$4,000
Total noninterest expense	$104,129
Salaries and employee benefits	$70,129
Premises and equipment expense	$14,731
Additional noninterest expense	$19,269
Applicable income taxes	$19,866
Net charge-offs	$-1,172
Cash dividends	$31,000

Peapack-gladstone Bank's interest expense for loans was $55,507,000.
Peapack-gladstone Bank's payroll and benefits expense were $70,129,000.
Peapack-gladstone Bank's property, plant and equipment expenses $14,731,000.

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	$4,257,965
Deposits held in domestic offices	$4,257,965
Deposits by Individuals, partnerships, and corporations	$4,027,109
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$230,856
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	$1,048,204
Demand deposits	$165,210
Nontransaction accounts	$3,209,761
Money market deposit accounts (MMDAs)	$2,382,207
Other savings deposits (excluding MMDAs)	$112,652
Total time deposits	$714,902
Total time and savings deposits	$4,092,755
Noninterest-bearing deposits	$543,212
Interest-bearing deposits	$3,714,753
Retail deposits	$3,820,506
IRAs and Keogh plan accounts	$62,240
Brokered deposits	$214,011
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$5,177,959
Cash & Balances due from depository institutions	$208,083
Interest-bearing balances	$201,492
Total securities	$401,591
Federal funds sold & reverse repurchase	$102
Net loans and leases	$4,368,009
Loan and leases loss allowance	$43,676
Trading account assets	$0
Bank premises and fixed assets	$38,123
Other real estate owned	$50
Goodwill and other intangibles	$41,715
All other assets	$120,286

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$5,177,959
Total Liabilities	$4,609,960
Total deposits	$4,257,965
Interest-bearing deposits	$3,714,753
Deposits held in domestic offices	$4,257,965
% insured (estimated)	$82
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$240,698
Subordinated debt	$0
All other liabilities	$111,297

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$4,368,009
Loan and leases loss allowance	$43,676
Total loans and leases (domestic)	$4,411,685
All real estate loans	$3,213,436
Real estate loans in domestic offices	$3,213,436
Construction and development loans	$8,400
Residential 1-4 family construction	$2,977
Other construction, all land development and other land	$5,423
Loans secured by nonfarm nonresidential properties	$1,345,856
Nonfarm nonresidential secured by owner-occupied properties	$249,419
Commercial real estate & other non-farm, non-residential	$1,096,437
Multifamily residential real estate	$1,210,003
1-4 family residential loans	$646,134
Farmland loans	$3,043
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$854,388
To non-U.S. addressees	$0
Loans to individuals	$38,861
Credit card loans	$0
Related Plans	$38,591
Consumer Auto Loans	$15
Other loans to individuals	$255
All other loans & leases	$305,000
Loans to foreign governments and official institutions	$0
Other loans	$33,894
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	$2,357
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Peapack-Gladstone Bank had $4,368,009,000 of loans outstanding in 2019. $3,213,436,000 of loans were in real estate loans. $8,400,000 of loans were in development loans. $1,210,003,000 of loans were in multifamily mortgage loans. $646,134,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $15,000 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	209	$57,981	$277,421
Nonfarm, nonresidential loans - <$100k	14	$456	$32,571
Nonfarm, nonresidential loans - $100-250k	55	$6,293	$114,418
Nonfarm, nonresidential loans - $250k-1MM	140	$51,232	$365,943
Commercial & Industrial, US addressed loans - <$1MM	300	$48,036	$160,120
Commercial & Industrial, US addressed loans - <$100k	115	$2,461	$21,400
Commercial & Industrial, US addressed loans - $100-250k	61	$6,719	$110,148
Commercial & Industrial, US addressed loans - $250k-1MM	124	$38,856	$313,355
Farmland loans - <$1MM	1	$137	$137,000
Farmland loans - $250k-1MM	1	$137	$137,000