← PEAPACK GLADSTONE FINANCIAL CORP
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $26.5m | $36.5m | $44.2m | $47.4m | $26.2m | $56.6m | $74.2m | $48.9m | $33.0m | $37.3m | — | |
| Amortization of Debt Issuance Costs | $71k | $135k | $169k | $224k | $224k | $1.0m | $286k | $287k | $287k | $469k | — | |
| Amortization of Intangible Assets | $123k | $321k | $1.2m | $1.0m | $1.3m | $1.6m | $1.6m | $1.3m | $1.1m | $1.1m | — | |
| Depreciation | $3.1m | $3.3m | $3.1m | $3.1m | $3.1m | $3.2m | $3.5m | $3.7m | $3.5m | $4.1m | $4.5m | |
| Amortization of premium and accretion of discount on securities, net | $1.5m | $1.7m | $1.4m | $1.8m | $5.0m | $5.8m | $2.7m | $578k | $242k | ($85k) | — | |
| Amortization of restricted stock | $2.8m | $3.7m | $4.4m | $5.9m | $6.9m | $7.1m | $8.4m | $10.8m | $5.8m | $5.3m | — | |
| Amortization of subordinated debt costs | $71k | $135k | $169k | $224k | $224k | $1.0m | $286k | $287k | $287k | $469k | — | |
| Deferred Income Tax Expense (Benefit) | $952k | $14.1m | $17.0m | $10.0m | $8.2m | $9.5m | ($6.6m) | ($15.3m) | ($14.3m) | $7.8m | $7.3m | |
| Deferred tax expense/(benefit) | $952k | $14.1m | $17.0m | $10.0m | $8.2m | $9.5m | ($6.6m) | ($15.3m) | ($14.3m) | $7.8m | — | |
| Share-based Payment Arrangement, Noncash Expense | $156k | $122k | $189k | — | — | — | — | — | — | — | $214k | |
| Payment, Tax Withholding, Share-based Payment Arrangement | $554k | $1.8m | $1.5m | $1.1m | $741k | $2.4m | $2.9m | $3.2m | $877k | $1.2m | — | |
| Stock-based compensation and employee stock purchase plan expense | $156k | $122k | $189k | $158k | $224k | $126k | $145k | $178k | $154k | $199k | $214k | |
| Goodwill, Impairment Loss | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| (Increase)/decrease in accrued interest receivable | ($1.3m) | ($1.3m) | ($1.4m) | $328k | ($12.0m) | $906k | ($3.6m) | ($5.5m) | $778k | ($2.1m) | — | |
| (Decrease)/increase in accrued expenses and other liabilities | $2.9m | $2.3m | ($929k) | $12.8m | ($10.7m) | $226k | $2.1m | $6.3m | $63.2m | ($23.1m) | — | |
| Increase (Decrease) in Other Operating Assets | ($945k) | $10.0m | $8.5m | ($5.1m) | $8.1m | $4.9m | ($5.3m) | $3.3m | $27.1m | $15.4m | — | |
| Increase in other assets | $945k | ($10.0m) | ($8.5m) | $5.1m | ($8.1m) | ($4.9m) | $5.3m | ($3.3m) | ($27.1m) | ($15.4m) | — | |
| Net Cash Provided by (Used in) Operating Activities | $42.9m |
$55.9m
+30.31%
|
$64.2m
+14.86%
|
$86.3m
+34.32%
|
$36.7m
-57.45%
|
$75.5m
+105.51%
|
$118.9m
+57.56%
|
$70.1m
-41.06%
|
$71.1m
+1.46%
|
$43.1m
-39.34%
|
$110.9m
+157.07%
|
|
| Cash flows from investing activities: | ||||||||||||
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | — | — | — | — | $275k | ($6k) | ($102k) | $304k | ($1.0m) | |
| Payments to Acquire Property, Plant, and Equipment | $3.2m | $2.4m | $1.1m | $1.7m | $3.1m | $3.9m | $3.5m | $3.3m | $8.1m | $14.3m | ($8.9m) | |
| Disposal of premises and equipment | — | — | — | — | — | — | $277k | ($6k) | $428k | ($237k) | — | |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | $68.0m | $66.5m | — | $208.6m | $217.1m | $453.4m | $440.7m | $633.7m | $661.5m | $722.8m | — | |
| Gain (Loss) on Investments | $119k | — | ($393k) | $117k | $281k | ($432k) | ($6.6m) | — | — | $7k | $81k | |
| Unrealized Gain (Loss) on Investments | — | — | $232k | — | — | — | — | — | — | — | ($42k) | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | $13.5m | $3.5m | $2.6m | $4.2m | $5.5m | — | — | — | — | — | |
| Net Cash Provided by (Used in) Investing Activities | ($433.2m) | ($435.5m) | ($297.7m) | ($487.0m) | ($214.0m) | ($753.8m) | ($356.1m) | ($147.5m) | ($303.4m) | ($735.8m) | ($865.7m) | |
| Cash flows from financing activities: | ||||||||||||
| Net increase/(decrease) in short-term borrowings | — | — | — | — | ($113.1m) | — | $379.5m | $24.3m | ($403.8m) | $73.3m | — | |
| Redemption of subordinated debt | — | — | — | — | — | ($50.0m) | — | — | — | ($35.0m) | — | |
| Proceeds from issuance of subordinated debt | $48.7m | $34.1m | — | — | $98.2m | — | — | — | — | — | — | |
| Payments for Repurchase of Common Stock | — | — | — | $21.0m | $6.5m | $28.6m | $32.7m | $12.5m | $7.2m | $5.4m | — | |
| Payments of Ordinary Dividends, Common Stock | $3.3m | $3.5m | $3.7m | $3.9m | $3.8m | $3.8m | $3.6m | $3.6m | $3.5m | $3.5m | ($3.7m) | |
| Dividends paid on common stock | ($3.3m) | ($3.5m) | ($3.7m) | ($3.9m) | ($3.8m) | ($3.8m) | ($3.6m) | ($3.6m) | ($3.5m) | ($3.5m) | ($3.7m) | |
| Net Cash Provided by (Used in) Financing Activities | $482.8m |
$330.3m
-31.58%
|
$280.8m
-15.00%
|
$448.1m
+59.58%
|
$622.4m
+38.91%
|
$171.8m
-72.39%
|
$280.4m
+63.22%
|
$75.0m
-73.26%
|
$436.0m
+481.38%
|
$489.1m
+12.17%
|
$693.1m
+41.71%
|
|
| Net (decrease)/increase in cash and cash equivalents | $92.5m | ($49.2m) | $47.3m | $47.4m | $445.1m | ($506.5m) | $43.3m | ($2.4m) | $203.7m | ($203.5m) | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $47.4m | $445.1m | ($506.5m) | $43.3m | ($2.4m) | $203.7m | ($203.5m) | $253.9m | |
| Cash and cash equivalents at beginning of period | — | $113.4m | $160.8m | $208.2m | $653.3m | $146.8m | $190.1m | $187.7m | $391.4m | $187.8m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $208.2m | $653.3m | $146.8m | $190.1m | $187.7m | $391.4m | $187.8m | $253.9m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Provision for Loan, Lease, and Other Losses | — | — | — | — | — | — | $6.4m | $14.1m | $4k | $23.5m | $27.9m | |
| Bank Owned Life Insurance Income | $1.4m | $1.4m | $1.4m | $1.3m | $1.3m | $1.7m | $1.2m | $1.3m | $1.6m | $1.7m | — | |
| Gain (Loss) on Sales of Loans, Net | — | — | — | ($10k) | $7.4m | $1.1m | — | — | $23k | ($364k) | — | |
| Proceeds from Stock Options Exercised | $1.1m | $690k | $275k | $251k | $230k | $187k | $292k | $42k | — | $0 | — | |
| Parent Company | $3.3m | $3.5m | $3.7m | $3.9m | $3.8m | $3.8m | $3.6m | $3.6m | $3.5m | $3.5m | — | |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $20.0m | $26.5m | $42.8m | $60.3m | $38.3m | $22.4m | $33.2m | $141.2m | $170.8m | $164.0m | — | |
| Income Taxes Paid, Net | — | $11.6m | $3.6m | $3.6m | $9.8m | $16.1m | $25.0m | $18.5m | $17.7m | $19.7m | — | |
| Additional Financial Items | ||||||||||||
| Equity Securities, FV-NI, Unrealized Gain (Loss) | — | — | ($105k) | $117k | $281k | ($432k) | ($1.7m) | $181k | $828k | $418k | — | |
| Foreign Currency Transaction Gain (Loss), before Tax | — | — | $1.3m | $1.2m | $1.2m | $1.5m | $1.5m | $1.2m | $1.0m | $1.0m | — | |
| Gain (Loss) on Disposition of Assets | — | — | — | — | — | — | $275k | — | — | — | — | |
| Gain (Loss) on Termination of Lease | — | — | — | — | — | — | — | — | — | $875k | — | |
| Gain (Loss) on Disposition of Assets for Financial Service Operations | — | — | ($58k) | $0 | $0 | $51k | $0 | — | — | — | — | |
| Gains (Losses) on Sales of Investment Real Estate | $5k | — | $58k | — | — | — | — | — | — | — | — | |
| Goodwill | $1.6m | $17.1m | $24.4m | $30.2m | $33.1m | $36.2m | $36.2m | $36.2m | $36.2m | $36.2m | — | |
| Income Tax Expense (Benefit) | $16.3m | $17.8m | $13.6m | $18.7m | $5.8m | $21.0m | $28.1m | $18.4m | $12.0m | $15.0m | — | |
| Proceeds from (Payments to) Noncontrolling Interests | — | — | — | — | — | — | — | — | — | ($58k) | — | |
| Financing Receivable, Credit Loss, Expense (Reversal) | — | — | — | — | — | — | $450k | — | — | ($83k) | — | |
| Provision for credit losses | — | — | — | — | $32.4m | $6.5m | $6.4m | $14.1m | $7.5m | $23.5m | — | |
| Swap valuation allowance | — | — | — | — | — | $2.2m | $673k | — | — | — | — | |
| Valuation allowance loans held for sale | — | — | $232k | — | $4.4m | — | — | — | — | — | — | |
| Fair value adjustment for equity security | — | — | $105k | ($117k) | ($281k) | $432k | $1.7m | ($181k) | ($828k) | ($418k) | — | |
| Gain on sale of securities, available for sale, net | — | — | — | — | — | — | $6.6m | — | — | ($7k) | — | |
| Proceeds from sales of loans held for sale (A) | $72.5m | $45.8m | $44.5m | $73.7m | $187.7m | $171.3m | $98.6m | $41.4m | $28.9m | $29.2m | — | |
| Loans originated for sale (A) | ($70.9m) | ($43.4m) | ($44.1m) | ($75.6m) | ($194.7m) | ($176.8m) | ($74.9m) | ($30.0m) | ($29.3m) | ($23.8m) | — | |
| Gain on loans held for sale (A) | ($1.6m) | ($2.0m) | ($2.0m) | ($2.9m) | ($5.0m) | ($7.1m) | ($7.2m) | ($2.5m) | ($1.4m) | ($1.7m) | — | |
| Loss/(gain) on loans held for sale at lower of cost or fair value | — | — | — | — | — | — | — | — | ($23k) | $364k | — | |
| Loss/(gain) on disposal of fixed assets | — | — | — | — | — | — | ($275k) | ($6k) | ($102k) | — | — | |
| Loss on disposal of fixed assets | — | — | — | — | — | — | — | $6k | $102k | $304k | — | |
| Gain on life insurance death benefit | — | ($62k) | ($3.0m) | — | — | ($455k) | ($27k) | ($41k) | ($236k) | ($8k) | — | |
| Increase in cash surrender value of life insurance, net | ($921k) | ($818k) | ($767k) | ($775k) | ($681k) | ($618k) | ($532k) | ($457k) | ($318k) | ($48k) | — | |
| Principal repayments, maturities and calls of securities held to maturity | — | — | — | — | — | $234k | $6.3m | $4.8m | $6.0m | $5.7m | — | |
| Principal repayments, maturities and calls of securities available for sale | $68.0m | $66.5m | $79.3m | $208.6m | $217.1m | $453.4m | $440.7m | $633.7m | $661.5m | $722.8m | — | |
| Redemptions for FHLB & FRB stock | $61.6m | $40.6m | $87.6m | $34.4m | $39.5m | $807k | $33.8m | $115.9m | $59.7m | $27.1m | — | |
| Sales of securities available for sale | $5.5m | — | $19.5m | $0 | $0 | — | $119.0m | — | — | $53.2m | — | |
| Purchase of securities held to maturity | — | — | — | — | — | ($108.9m) | — | ($10.3m) | — | — | — | |
| Purchase of securities available for sale | ($187.0m) | ($91.6m) | ($156.9m) | ($210.0m) | ($448.1m) | ($653.5m) | ($420.2m) | ($619.0m) | ($899.7m) | ($733.4m) | — | |
| Purchase of equity securities | — | — | — | ($6.0m) | ($4.0m) | — | — | — | — | — | — | |
| Purchase of FHLB & FRB stock | ($61.4m) | ($40.1m) | ($92.8m) | ($40.0m) | ($29.1m) | ($48k) | ($51.5m) | ($116.3m) | ($41.0m) | ($29.3m) | — | |
| Proceeds from sale of loans held for sale at lower of cost or fair value | $201.7m | $109.5m | $126.9m | $5.0m | $372.4m | $66.1m | — | — | $23k | $886k | — | |
| Net increase in loans, net of participations sold | ($518.8m) | ($505.0m) | ($358.7m) | ($478.1m) | ($354.5m) | ($503.7m) | ($480.9m) | ($153.1m) | ($83.4m) | ($768.1m) | — | |
| Sales of OREO | $568k | $534k | $1.8m | $336k | — | $101k | — | $116k | — | — | — | |
| Purchase of wealth management company | — | ($13.5m) | ($3.5m) | ($2.6m) | ($4.2m) | ($5.5m) | — | — | — | — | — | |
| Proceeds from life insurance death benefit | — | $100k | — | $3.0m | — | $1.2m | — | — | $154k | — | — | |
| Net increase in deposits | $476.4m | $286.5m | $197.0m | $348.2m | $575.0m | $447.7m | ($61.0m) | $69.0m | $854.9m | $460.0m | — | |
| Repayments of Paycheck Protection Program Liquidity Facility | — | — | — | — | $358.8m | $177.1m | — | — | — | — | — | |
| Repayments of FHLB advances | ($21.9m) | ($23.9m) | ($34.9m) | ($3.0m) | ($105.0m) | ($15.0m) | — | — | — | — | — | |
| Exercise of stock options, net of stock swaps | $1.1m | $690k | $275k | $251k | $230k | $187k | $292k | $42k | $0 | $0 | — | |
| Restricted stock repurchased on vesting to pay taxes | ($554k) | ($1.8m) | ($1.5m) | ($1.1m) | ($741k) | ($2.4m) | ($2.9m) | ($3.2m) | ($877k) | ($1.2m) | — | |
| Issuance of restricted stock | — | — | — | — | — | $0 | $0 | $0 | ($4.3m) | $0 | — | |
| Issuance of shares for employee stock purchase plan | $637k | $797k | $958k | $532k | $1.1m | $833k | $904k | $1.0m | $857k | $1.1m | — | |
| Shares repurchased | — | — | — | ($21.0m) | ($6.5m) | ($28.6m) | ($32.7m) | ($12.5m) | ($7.2m) | ($5.4m) | — | |
| Transfer of loans to loans held for sale | $30.1m | — | $137.3m | $15.1m | $367.5m | $57.4m | — | — | — | — | — | |
| Transfer of loans to other real estate owned | $534k | $2.1m | — | $386k | — | — | $116k | — | — | — | — | |
| Right-of-use asset obtained in exchange for operating lease liabilities | — | — | — | — | — | — | $5.9m | $1.9m | $32.3m | $4.3m | — | |
| Customer relationship & other intangibles | — | $5.5m | $2.4m | $3.4m | $1.7m | $3.5m | — | — | — | — | — |