Peapack Private Bank & Trust has made a significant addition to its Commercial Real Estate (CRE) team by appointing Nicholas LaMorte as a Senior Managing Director. With over twenty years of experience in real estate finance, LaMorte's expertise is expected to play a pivotal role in the bank's strategy to grow its commercial loan offerings and penetrate new markets.
LaMorte's impressive background includes his recent role as Senior Vice President and Group Director at Signature Bank, where he was instrumental in building a commercial real estate portfolio with loan balances nearing $3.8 billion. His ability to source, negotiate, and underwrite loans across diverse property types underscores his capability to contribute significantly to Peapack's objectives.
At Peapack, LaMorte will focus on expanding the bank's footprint in untapped markets, enhancing loan production, and broadening the Commercial Real Estate portfolio. His deep understanding of the credit and depository needs within the New York Metropolitan area, coupled with his academic credentials from Pace University's Lubin School of Business, positions him as a valuable asset to the bank's growth ambitions.
This hiring is a clear indication of Peapack-Gladstone Financial Corporation's dedication to scaling its operations and reinforcing its reputation as a client-centric financial services provider. With assets totaling $7.0 billion and under management reaching $11.9 billion as of the end of 2024, the bank is steadfast in its commitment to delivering comprehensive financial solutions. The addition of LaMorte to the team is a strategic move that underscores the bank's focus on leveraging top-tier talent to achieve its expansion goals.
