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, Miami, and Trenton among others. We have data for 35 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 an above 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
701Origination Dollar Volume (All Markets)
$915,685,000Employee count
485 Show all (2) awardsPeapack-Gladstone Bank - 2021
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For 2021, 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) | 596 | $821,620,000 | $1,378,557 | $4,383 | 2.75% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 16 | $26,780,000 | $1,673,750 | $4,310 | 3.01% |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 11 | $15,625,000 | $1,420,455 | $3,334 | 2.56% |
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 12 | $10,280,000 | $856,667 | $8,280 | 2.52% |
TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 17 | $6,795,000 | $399,706 | $3,960 | 2.43% |
COLUMBUS, OH (FHA|USDA|VA) | 1 | $6,505,000 | $6,505,000 | $0 | 3.40% |
DOVER, DE (FHA|USDA|VA) | 1 | $5,505,000 | $5,505,000 | $0 | 3.00% |
OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $4,190,000 | $2,095,000 | $2,483 | 2.94% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 4 | $2,670,000 | $667,500 | $5,697 | 2.65% |
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $1,595,000 | $531,667 | $4,136 | 2.29% |
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,555,000 | $311,000 | $3,180 | 2.55% |
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $1,110,000 | $555,000 | $4,861 | 2.94% |
SALISBURY, MD-DE (FHA|USDA|VA) | 3 | $1,075,000 | $358,333 | $4,984 | 2.87% |
Outside of Metro Areas | 2 | $910,000 | $455,000 | $5,463 | 2.44% |
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 3 | $825,000 | $275,000 | $3,805 | 2.78% |
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 3.50% |
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $5,048 | 2.50% |
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $3,621 | 2.38% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $3,975 | 2.50% |
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $655,000 | $655,000 | $4,437 | 2.63% |
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $2,960 | 2.12% |
RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $5,379 | 2.88% |
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $3,443 | 2.50% |
JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,356 | 2.00% |
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $2,806 | 2.50% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,000 | 2.38% |
Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,514 | 2.88% |
EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,399 | 2.88% |
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,659 | 2.50% |
Tifton, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $2,735 | 2.88% |
RICHMOND, VA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,892 | 3.50% |
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,789 | 2.38% |
Rutland, VT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,494 | 3.13% |
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,503 | 2.63% |
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,606 | 2.63% |
Similar Lenders
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 701 | $915,685,000 | $1,306,255 | $4,404 | 2.73% |
For 2021, Peapack-gladstone Bank's most frequently originated type of loan was Conventional, with 701 originations.
Loan Reason
For 2021, Peapack-gladstone Bank's most frequently cited loan purpose was Refi, with 313 originations. The 2nd most popular reason was Home Purchase, with 201 originations.
Loan Duration/Length
For 2021, Peapack-gladstone Bank's most frequently cited loan duration was 30 Year, with 320 originations. The 2nd most popular length was Other, with 183 originations.
Origination Fees/Closing Costs
Peapack-gladstone Bank's average total fees were $4,719, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 477 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
<2.5% | 289 | $118,125,000 | $408,737 |
2.5-3% | 231 | $96,165,000 | $416,299 |
3-4% | 178 | $687,590,000 | $3,862,865 |
4-5% | 2 | $13,200,000 | $6,600,000 |
5-6% | 1 | $605,000 | $605,000 |
During 2021, Peapack-gladstone Bank's average interest rate for loans was 2.76%, while their most frequently originated rate bucket for loans was <2.5%, with 289 originations.
Loan Sizing
2021 saw Peapack-gladstone Bank place emphasis on $200k-400k loans with 260 originations, totaling $77,030,000 in origination value.
Applicant Income
Peapack-gladstone Bank lent most frequently to those with incomes in the $250k+ range, with 125 originations. The second most popular income band? $150k-250k, with 105 originations.
Applicant Debt to Income Ratio
Peapack-gladstone Bank lent most frequently to those with DTI ratios of 20-30%, with 150 originations. The next most common DTI ratio? 30-36%, with 131 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.13%
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 origination90.87%
Peapack-gladstone Bank has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 701 | $915,685,000 | $1,306,255 |
LTV Distribution
Bank Details
Branches
Bank Name | Branch | Branch Type | Deposits (000's) |
---|---|---|---|
Peapack-Gladstone Bank | 104 Ely Rd Boonton, NJ 7005 | Full Service B&M | $15,510 |
Peapack-Gladstone Bank | 11 Pottersville Road Pottersville, NJ 7979 | Full Service B&M | $35,934 |
Peapack-Gladstone Bank | 169 Lamington Road Oldwick, NJ 8858 | Full Service B&M | $206,251 |
Peapack-Gladstone Bank | 17 East Main Street Mendham, NJ 7945 | Full Service B&M | $166,917 |
Peapack-Gladstone Bank | 189 Center St Clinton, NJ 8809 | Full Service B&M | $121,040 |
Peapack-Gladstone Bank | 233 South Street Morristown, NJ 7960 | Full Service B&M | $405,020 |
Peapack-Gladstone Bank | 26 Dumont Road Far Hills, NJ 7931 | Full Service B&M | $105,190 |
Peapack-Gladstone Bank | 278 Green Village Road Green Village, NJ 7935 | Full Service B&M | $300,777 |
Peapack-Gladstone Bank | 311 Main Street Chatham, NJ 7928 | Full Service B&M | $120,220 |
Peapack-Gladstone Bank | 350 Main Street Chester, NJ 7930 | Full Service B&M | $120,895 |
Peapack-Gladstone Bank | 36 Morristown Road Bernardsville, NJ 7924 | Full Service B&M | $238,672 |
Peapack-Gladstone Bank | 417 Route 206 North Hillsborough, NJ 8844 | Full Service B&M | $132,356 |
Peapack-Gladstone Bank | 438 High Bridge-Califon Road Califon, NJ 7830 | Full Service B&M | $130,310 |
Peapack-Gladstone Bank | 468 Route 206 North Bedminster, NJ 7921 | Full Service B&M | $580,893 |
Peapack-Gladstone Bank | 48 Deforest Avenue Summit, NJ 7901 | Full Service B&M | $314,698 |
Peapack-Gladstone Bank | 500 Hills Drive Bedminster, NJ 7921 | Limited, Drive-thru | $3,271 |
Peapack-Gladstone Bank | 500 Hills Drive Suite 300 Bedminster, NJ 7921 | Full Service B&M | $1,445,897 |
Peapack-Gladstone Bank | 58 Mountain Boulevard Warren, NJ 7059 | Full Service B&M | $212,874 |
Peapack-Gladstone Bank | 59 East Mill Road Long Valley, NJ 7853 | Full Service B&M | $117,311 |
Peapack-Gladstone Bank | 619 East Main Street Bridgewater, NJ 8807 | Full Service B&M | $153,027 |
Peapack-Gladstone Bank | 8000 Fellowship Road Basking Ridge, NJ 7920 | Full Service B&M | $18,095 |
For 2021, Peapack-gladstone Bank had 21 branches.
Yearly Performance Overview
Bank Income
Item | Value (in 000's) |
---|---|
Total interest income | $160,067 |
Net interest income | $145,073 |
Total noninterest income | $72,676 |
Gross Fiduciary activities income | $52,137 |
Service charges on deposit accounts | $1,773 |
Trading account gains and fees | $0 |
Additional Noninterest Income | $18,766 |
Pre-tax net operating income | $86,708 |
Securities gains (or losses, -) | $-432 |
Income before extraordinary items | $62,897 |
Discontinued Operations (Extraordinary gains, net) | $0 |
Net income of bank and minority interests | $62,897 |
Minority interest net income | $0 |
Net income | $62,897 |
Sale, conversion, retirement of capital stock, net | $0 |
Net operating income | $63,238 |
Peapack-gladstone Bank's gross interest income from loans was $160,067,000.
Peapack-gladstone Bank's net interest income from loans was $145,073,000.
Peapack-gladstone Bank's fee based income from loans was $1,773,000.
Peapack-gladstone Bank's net income from loans was $62,897,000.
Bank Expenses
Item | Value (in 000's) |
---|---|
Total interest expense | $14,994 |
Provision for credit losses | $6,475 |
Total noninterest expense | $124,566 |
Salaries and employee benefits | $81,864 |
Premises and equipment expense | $17,150 |
Additional noninterest expense | $25,552 |
Applicable income taxes | $23,379 |
Net charge-offs | $12,087 |
Cash dividends | $0 |
Peapack-gladstone Bank's interest expense for loans was $14,994,000.
Peapack-gladstone Bank's payroll and benefits expense were $81,864,000.
Peapack-gladstone Bank's property, plant and equipment expenses $17,150,000.
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 | $5,294,201 |
Deposits held in domestic offices | $5,294,201 |
Deposits by Individuals, partnerships, and corporations | $5,028,393 |
Deposits by U.S. Government | $0 |
Deposits by States and political subdivisions in the U.S. | $265,809 |
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 | $1,565,461 |
Demand deposits | $297,152 |
Nontransaction accounts | $3,728,741 |
Money market deposit accounts (MMDAs) | $3,099,018 |
Other savings deposits (excluding MMDAs) | $154,915 |
Total time deposits | $474,808 |
Total time and savings deposits | $4,997,050 |
Noninterest-bearing deposits | $984,013 |
Interest-bearing deposits | $4,310,188 |
Retail deposits | $5,034,972 |
IRAs and Keogh plan accounts | $56,545 |
Brokered deposits | $118,818 |
Deposits held in foreign offices | $0 |
Assets
Asset | Value (in 000's) |
---|---|
Total Assets | $6,077,480 |
Cash & Balances due from depository institutions | $146,804 |
Interest-bearing balances | $140,875 |
Total securities | $920,118 |
Federal funds sold & reverse repurchase | $0 |
Net loans and leases | $4,782,115 |
Loan and leases loss allowance | $61,697 |
Trading account assets | $0 |
Bank premises and fixed assets | $36,401 |
Other real estate owned | $0 |
Goodwill and other intangibles | $50,573 |
All other assets | $141,469 |
Liabilities
Liabilities | Value (in 000's) |
---|---|
Total liabilities and capital | $6,077,480 |
Total Liabilities | $5,426,538 |
Total deposits | $5,294,201 |
Interest-bearing deposits | $4,310,188 |
Deposits held in domestic offices | $5,294,201 |
% insured (estimated) | $82 |
Federal funds purchased and repurchase agreements | $0 |
Trading liabilities | $0 |
Other borrowed funds | $5,820 |
Subordinated debt | $0 |
All other liabilities | $126,517 |
Issued Loan Types
Type | Value (in 000's) |
---|---|
Net loans and leases | $4,782,115 |
Loan and leases loss allowance | $61,697 |
Total loans and leases (domestic) | $4,843,812 |
All real estate loans | $3,437,631 |
Real estate loans in domestic offices | $3,437,631 |
Construction and development loans | $24,204 |
Residential 1-4 family construction | $4,075 |
Other construction, all land development and other land | $20,129 |
Loans secured by nonfarm nonresidential properties | $1,263,796 |
Nonfarm nonresidential secured by owner-occupied properties | $252,603 |
Commercial real estate & other non-farm, non-residential | $1,011,193 |
Multifamily residential real estate | $1,595,866 |
1-4 family residential loans | $546,894 |
Farmland loans | $6,871 |
Loans held in foreign offices | $0 |
Farm loans | $0 |
Commercial and industrial loans | $1,019,535 |
To non-U.S. addressees | $0 |
Loans to individuals | $29,441 |
Credit card loans | $0 |
Related Plans | $29,308 |
Consumer Auto Loans | $37 |
Other loans to individuals | $96 |
All other loans & leases | $357,205 |
Loans to foreign governments and official institutions | $0 |
Other loans | $4,499 |
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 | $2,479 |
Non 1-4 family restructured loans & leases | $2,089 |
Total loans and leases (foreign) | $0 |
Peapack-Gladstone Bank had $4,782,115,000 of loans outstanding in 2021. $3,437,631,000 of loans were in real estate loans. $24,204,000 of loans were in development loans. $1,595,866,000 of loans were in multifamily mortgage loans. $546,894,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $37,000 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 | 193 | $56,324 | $291,834 |
Nonfarm, nonresidential loans - <$100k | 11 | $363 | $33,000 |
Nonfarm, nonresidential loans - $100-250k | 48 | $4,884 | $101,750 |
Nonfarm, nonresidential loans - $250k-1MM | 134 | $51,077 | $381,172 |
Commercial & Industrial, US addressed loans - <$1MM | 354 | $43,829 | $123,811 |
Commercial & Industrial, US addressed loans - <$100k | 110 | $2,057 | $18,700 |
Commercial & Industrial, US addressed loans - $100-250k | 65 | $5,374 | $82,677 |
Commercial & Industrial, US addressed loans - $250k-1MM | 179 | $36,398 | $203,341 |
Farmland loans - <$1MM | 5 | $1,734 | $346,800 |
Farmland loans - $250k-1MM | 5 | $1,734 | $346,800 |