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 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.
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
414Origination Dollar Volume (All Markets)
$492,740,000Employee count
446Top 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% |
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 | 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
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
2019 saw Peapack-gladstone Bank place emphasis on $200k-400k loans with 169 originations, totaling $49,645,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications96.35%
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 origination82.85%
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
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 |