Peapack-Gladstone Financial Corporation is setting its sights on the Long Island market as part of a strategic expansion plan, marking a significant step in its growth trajectory. The bank has already secured temporary commercial space in Melville and is in the process of establishing a permanent retail presence in Garden City, signaling its commitment to the region. This move is not just about physical expansion but also about bringing Peapack-Gladstone's unique private banking and comprehensive financial services to a new clientele.
Doug Kennedy, President and CEO of Peapack-Gladstone Financial Corporation, views Long Island as a natural extension of the bank's growth strategy. The region's economic vitality and the demand for personalized banking solutions make it an ideal market for the bank's services. Andrew Corrado, President of Peapack Private's New York office, further elaborated on the bank's competitive edge, emphasizing its established reputation in New York City and its readiness to replicate this success in Long Island.
The expansion is further strengthened by the addition of key personnel, such as Joseph Fingerman, who will lead the Commercial Real Estate division. Fingerman's expertise and his team's focus on the New York metro area, including Long Island, are pivotal to the bank's strategy to deepen its market penetration and attract new clients.
With $7.1 billion in total assets and $11.8 billion in assets under management as of March 31, 2025, Peapack-Gladstone Financial Corporation is well-positioned to make a significant impact in the Long Island market. The bank's approach to wealth management, investment banking, and personal and commercial banking is designed to meet the diverse needs of its clients, offering them tailored solutions that align with their financial goals.
This expansion is more than just a growth initiative; it's a testament to Peapack-Gladstone Financial Corporation's dedication to providing high-quality, customized financial services. By entering the Long Island market, the bank is not only extending its geographical footprint but also reinforcing its commitment to building lasting relationships with its clients through personalized banking experiences.
