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 and Home Purchase loans. Peapack-gladstone Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, York, Miami, and Williamsport among others. We have data for 36 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.
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Originations
711Origination Dollar Volume (All Markets)
$403,775,000Employee count
481 Show all (3) awardsPeapack-Gladstone Bank - 2020
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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) | 608 | $293,030,000 | $481,957 | $4,019 | 2.95% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 24 | $37,860,000 | $1,577,500 | $4,268 | 2.72% |
YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $23,405,000 | $23,405,000 | $0 | 2.82% |
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 7 | $9,205,000 | $1,315,000 | $6,124 | 3.16% |
WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $8,965,000 | $8,965,000 | $0 | 2.75% |
OCEAN CITY, NJ (FHA|USDA|VA) | 6 | $4,780,000 | $796,667 | $7,850 | 3.22% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 5 | $3,535,000 | $707,000 | $4,565 | 2.75% |
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 3 | $3,405,000 | $1,135,000 | $2,173 | 3.92% |
TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 9 | $2,795,000 | $310,556 | $3,051 | 2.79% |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 8 | $1,780,000 | $222,500 | $3,119 | 2.76% |
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $1,445,000 | $1,445,000 | $4,977 | 2.88% |
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $1,400,000 | $700,000 | $5,520 | 3.19% |
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $1,220,000 | $610,000 | $3,073 | 3.00% |
Vineyard Haven, MA (FHA|USDA|VA) | 1 | $1,155,000 | $1,155,000 | $6,066 | 3.88% |
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $935,000 | $935,000 | $4,220 | 3.25% |
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $880,000 | $440,000 | $4,312 | 2.75% |
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $4,502 | 2.88% |
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $3,414 | 2.50% |
EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $4,994 | 2.56% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $3,539 | 2.69% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $3,028 | 2.48% |
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $3,847 | 2.63% |
SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $3,927 | 2.93% |
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $5,619 | 3.25% |
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $5,392 | 3.13% |
COLUMBIA, SC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $4,312 | 2.88% |
RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $2,828 | 3.06% |
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $2,536 | 2.81% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,225 | 3.00% |
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,094 | 3.38% |
Outside of Metro Areas | 1 | $205,000 | $205,000 | $3,065 | 2.88% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,105 | 2.50% |
GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,804 | 3.00% |
PITTSBURGH, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,500 | 2.50% |
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,719 | 4.38% |
ROCHESTER, NY (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $2,630 | 3.50% |
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 711 | $403,775,000 | $567,897 | $4,043 | 2.95% |
For 2020, Peapack-gladstone Bank's most frequently originated type of loan was Conventional, with 711 originations.
Loan Reason
For 2020, Peapack-gladstone Bank's most frequently cited loan purpose was Refi, with 334 originations. The 2nd most popular reason was Home Purchase, with 234 originations.
Loan Duration/Length
For 2020, Peapack-gladstone Bank's most frequently cited loan duration was 30 Year, with 489 originations. The 2nd most popular length was 15 Year, with 131 originations.
Origination Fees/Closing Costs
Peapack-gladstone Bank's average total fees were $4,246, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 626 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 296 | $162,230,000 | $548,074 |
3-4% | 193 | $123,815,000 | $641,528 |
<2.5% | 178 | $81,720,000 | $459,101 |
4-5% | 44 | $36,010,000 | $818,409 |
During 2020, Peapack-gladstone Bank's average interest rate for loans was 3.03%, while their most frequently originated rate bucket for loans was 2.5-3%, with 296 originations.
Loan Sizing
2020 saw Peapack-gladstone Bank place emphasis on $200k-400k loans with 304 originations, totaling $90,530,000 in origination value.
Applicant Income
Peapack-gladstone Bank lent most frequently to those with incomes in the $150k-250k range, with 149 originations. The second most popular income band? $100k-150k, with 148 originations.
Applicant Debt to Income Ratio
Peapack-gladstone Bank lent most frequently to those with DTI ratios of 20-30%, with 182 originations. The next most common DTI ratio? 30-36%, with 154 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.62%
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 origination88.47%
Peapack-gladstone Bank has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 711 | $403,775,000 | $567,897 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Multifamily:Site-Built | 27 | $140,455,000 | $5,202,037 |
Single Family (1-4 Units):Site-Built | 684 | $263,320,000 | $384,971 |
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 | $37,574 |
Peapack-Gladstone Bank | 169 Lamington Road Oldwick, NJ 8858 | Full Service B&M | $216,311 |
Peapack-Gladstone Bank | 17 East Main Street Mendham, NJ 7945 | Full Service B&M | $236,914 |
Peapack-Gladstone Bank | 189 Center St Clinton, NJ 8809 | Full Service B&M | $132,232 |
Peapack-Gladstone Bank | 233 South Street Morristown, NJ 7960 | Full Service B&M | $422,561 |
Peapack-Gladstone Bank | 26 Dumont Road Far Hills, NJ 7931 | Full Service B&M | $85,006 |
Peapack-Gladstone Bank | 278 Green Village Road Green Village, NJ 7935 | Full Service B&M | $238,439 |
Peapack-Gladstone Bank | 311 Main Street Chatham, NJ 7928 | Full Service B&M | $121,284 |
Peapack-Gladstone Bank | 350 Main Street Chester, NJ 7930 | Full Service B&M | $108,480 |
Peapack-Gladstone Bank | 36 Morristown Road Bernardsville, NJ 7924 | Full Service B&M | $234,434 |
Peapack-Gladstone Bank | 417 Route 206 North Hillsborough, NJ 8844 | Full Service B&M | $144,286 |
Peapack-Gladstone Bank | 438 High Bridge-Califon Road Califon, NJ 7830 | Full Service B&M | $118,379 |
Peapack-Gladstone Bank | 468 Route 206 North Bedminster, NJ 7921 | Full Service B&M | $558,634 |
Peapack-Gladstone Bank | 48 Deforest Avenue Summit, NJ 7901 | Full Service B&M | $285,260 |
Peapack-Gladstone Bank | 500 Hills Drive Bedminster, NJ 7921 | Limited, Drive-thru | $2,210 |
Peapack-Gladstone Bank | 500 Hills Drive Suite 300 Bedminster, NJ 7921 | Full Service B&M | $1,391,612 |
Peapack-Gladstone Bank | 58 Mountain Boulevard Warren, NJ 7059 | Full Service B&M | $218,849 |
Peapack-Gladstone Bank | 59 East Mill Road Long Valley, NJ 7853 | Full Service B&M | $128,952 |
Peapack-Gladstone Bank | 619 East Main Street Bridgewater, NJ 8807 | Full Service B&M | $163,685 |
Peapack-Gladstone Bank | 8000 Fellowship Road Basking Ridge, NJ 7920 | Full Service B&M | $18,986 |
For 2020, Peapack-gladstone Bank had 20 branches.
Yearly Performance Overview
Bank Income
Item | Value (in 000's) |
---|---|
Total interest income | $165,751 |
Net interest income | $132,592 |
Total noninterest income | $61,480 |
Gross Fiduciary activities income | $40,049 |
Service charges on deposit accounts | $1,443 |
Trading account gains and fees | $0 |
Additional Noninterest Income | $19,988 |
Pre-tax net operating income | $37,660 |
Securities gains (or losses, -) | $281 |
Income before extraordinary items | $30,883 |
Discontinued Operations (Extraordinary gains, net) | $0 |
Net income of bank and minority interests | $30,883 |
Minority interest net income | $0 |
Net income | $30,883 |
Sale, conversion, retirement of capital stock, net | $0 |
Net operating income | $30,655 |
Peapack-gladstone Bank's gross interest income from loans was $165,751,000.
Peapack-gladstone Bank's net interest income from loans was $132,592,000.
Peapack-gladstone Bank's fee based income from loans was $1,443,000.
Peapack-gladstone Bank's net income from loans was $30,883,000.
Bank Expenses
Item | Value (in 000's) |
---|---|
Total interest expense | $33,159 |
Provision for credit losses | $32,400 |
Total noninterest expense | $124,012 |
Salaries and employee benefits | $77,516 |
Premises and equipment expense | $16,377 |
Additional noninterest expense | $30,119 |
Applicable income taxes | $7,058 |
Net charge-offs | $8,767 |
Cash dividends | $13,000 |
Peapack-gladstone Bank's interest expense for loans was $33,159,000.
Peapack-gladstone Bank's payroll and benefits expense were $77,516,000.
Peapack-gladstone Bank's property, plant and equipment expenses $16,377,000.
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 | 0.0% |
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 | $4,936,677 |
Deposits held in domestic offices | $4,936,677 |
Deposits by Individuals, partnerships, and corporations | $4,701,143 |
Deposits by U.S. Government | $0 |
Deposits by States and political subdivisions in the U.S. | $235,534 |
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 | $1,362,783 |
Demand deposits | $243,725 |
Nontransaction accounts | $3,573,894 |
Money market deposit accounts (MMDAs) | $2,847,050 |
Other savings deposits (excluding MMDAs) | $130,731 |
Total time deposits | $596,114 |
Total time and savings deposits | $4,692,952 |
Noninterest-bearing deposits | $951,170 |
Interest-bearing deposits | $3,985,507 |
Retail deposits | $4,606,393 |
IRAs and Keogh plan accounts | $61,974 |
Brokered deposits | $143,965 |
Deposits held in foreign offices | $0 |
Assets
Asset | Value (in 000's) |
---|---|
Total Assets | $5,892,261 |
Cash & Balances due from depository institutions | $653,220 |
Interest-bearing balances | $642,591 |
Total securities | $637,806 |
Federal funds sold & reverse repurchase | $102 |
Net loans and leases | $4,337,236 |
Loan and leases loss allowance | $67,309 |
Trading account assets | $0 |
Bank premises and fixed assets | $35,360 |
Other real estate owned | $50 |
Goodwill and other intangibles | $45,077 |
All other assets | $183,410 |
Liabilities
Liabilities | Value (in 000's) |
---|---|
Total liabilities and capital | $5,892,261 |
Total Liabilities | $5,299,070 |
Total deposits | $4,936,677 |
Interest-bearing deposits | $3,985,507 |
Deposits held in domestic offices | $4,936,677 |
% insured (estimated) | $83 |
Federal funds purchased and repurchase agreements | $0 |
Trading liabilities | $0 |
Other borrowed funds | $198,839 |
Subordinated debt | $0 |
All other liabilities | $163,554 |
Issued Loan Types
Type | Value (in 000's) |
---|---|
Net loans and leases | $4,337,236 |
Loan and leases loss allowance | $67,309 |
Total loans and leases (domestic) | $4,404,545 |
All real estate loans | $2,990,674 |
Real estate loans in domestic offices | $2,990,674 |
Construction and development loans | $15,773 |
Residential 1-4 family construction | $3,069 |
Other construction, all land development and other land | $12,704 |
Loans secured by nonfarm nonresidential properties | $1,258,842 |
Nonfarm nonresidential secured by owner-occupied properties | $254,006 |
Commercial real estate & other non-farm, non-residential | $1,004,836 |
Multifamily residential real estate | $1,127,198 |
1-4 family residential loans | $585,793 |
Farmland loans | $3,068 |
Loans held in foreign offices | $0 |
Farm loans | $0 |
Commercial and industrial loans | $1,047,330 |
To non-U.S. addressees | $0 |
Loans to individuals | $30,293 |
Credit card loans | $0 |
Related Plans | $29,530 |
Consumer Auto Loans | $2 |
Other loans to individuals | $761 |
All other loans & leases | $336,248 |
Loans to foreign governments and official institutions | $0 |
Other loans | $20,614 |
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 | $1,309 |
Non 1-4 family restructured loans & leases | $39 |
Total loans and leases (foreign) | $0 |
Peapack-Gladstone Bank had $4,337,236,000 of loans outstanding in 2020. $2,990,674,000 of loans were in real estate loans. $15,773,000 of loans were in development loans. $1,127,198,000 of loans were in multifamily mortgage loans. $585,793,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,000 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 | 200 | $56,539 | $282,695 |
Nonfarm, nonresidential loans - <$100k | 12 | $340 | $28,333 |
Nonfarm, nonresidential loans - $100-250k | 50 | $4,971 | $99,420 |
Nonfarm, nonresidential loans - $250k-1MM | 138 | $51,228 | $371,217 |
Commercial & Industrial, US addressed loans - <$1MM | 324 | $33,050 | $102,006 |
Commercial & Industrial, US addressed loans - <$100k | 117 | $602 | $5,145 |
Commercial & Industrial, US addressed loans - $100-250k | 62 | $4,932 | $79,548 |
Commercial & Industrial, US addressed loans - $250k-1MM | 145 | $27,516 | $189,766 |
Farmland loans - <$1MM | 2 | $490 | $245,000 |
Farmland loans - $250k-1MM | 2 | $490 | $245,000 |