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Dec 31, 2022
Peapack-Gladstone Q4 2022 Earnings Report
Reported strong fourth quarter results, as net interest margin continued to expand.
Key Takeaways
Peapack-Gladstone Financial Corporation reported strong fourth quarter results with total revenue of $64.85 million, net income of $20.58 million, and diluted earnings per share of $1.12. The results were driven by continued improvement in net interest income and net interest margin.
Net interest margin improved by 14 basis points compared to Q3 2022 and 66 basis points compared to Q4 2021.
Wealth Management fee income of $13.0 million comprised 20% of total revenue for the quarter.
Total loans were $5.30 billion, reflecting growth of $112 million (2.2% linked quarter or 8.7% annualized) compared to September 30, 2022.
Repurchased 140,700 shares of Company stock for a total cost of $5.2 million during Q4 2022.
Historical Earnings Impact
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