For the quarter ending 2026-03-31, PGC had $65,594K increase in cash & cash equivalents over the period. $23,301K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net interest income | 59,896 | 56,542 | 144,368 | - |
| Noninterest income | 22,597 | 21,659 | 60,426 | - |
| Total income | 82,493 | 78,201 | 204,794 | - |
| Provision For Doubtful Accounts | 7,327 | 7,671 | 15,847 | - |
| Provision for credit losses | 7,327 | 7,671 | 15,847 | - |
| Compensation and benefits | 39,365 | 36,796 | 108,696 | - |
| Premises and equipment expense | 5,688 | 6,015 | 16,483 | - |
| Depreciation expense | 1,170 | 1,127 | 1,067 | - |
| Federal Deposit Insurance Corporation Premium Expense Benefit | 1,388 | 1,565 | 3,245 | - |
| Fdic insurance expense | 1,388 | 1,565 | 3,245 | - |
| Professional and legal fees | -3,253 | - | - | - |
| Trust Department Expense | 1,180 | - | - | - |
| Trust department expense | -2,066 | - | - | - |
| Other noninterest expense | - | 30,253 | - | - |
| Other operating expense | -17,123 | - | 22,218 | - |
| Total noninterest expense | - | 230,686 | - | - |
| Total operating expense | -106,710 | - | 169,477 | - |
| Income before income tax expense | 19,726 | 16,992 | 35,317 | - |
| Income tax expense | 5,573 | 4,833 | 10,150 | - |
| Net income | 14,153 | 12,159 | 9,631 | 15,536 |
| Depreciation | 1,170 | 1,127 | 1,067 | 1,921 |
| Amortization of premium and accretion of discount on securities, net | 49 | 32 | -6 | 59 |
| Amortization of restricted stock | 555 | 1,241 | 1,233 | 2,846 |
| Amortization of intangible assets | 244 | 271 | 273 | 543 |
| Write-off of subordinated debt costs | 938 | - | - | - |
| Amortization of subordinated debt costs | 32 | 49 | 48 | 372 |
| Provision for credit losses | 7,327 | 7,671 | 4,790 | 11,057 |
| Deferred tax expense | 7,608 | 10,703 | -228 | -2,691 |
| Stock-based compensation and employee stock purchase plan expense | 56 | 48 | 56 | 95 |
| Fair value adjustment for equity security | -84 | 56 | 125 | 237 |
| Loss on securities available for sale | -81 | 0 | 0 | 7 |
| Loans originated for sale | 12,596 | 4,645 | 5,726 | 13,423 |
| Proceeds from sales of loans held for sale | 9,647 | 8,650 | 3,132 | 17,435 |
| Gain on loans held for sale | 475 | 594 | 209 | 913 |
| Loss/(gain) on loans held for sale at lower of cost or fair value | - | 0 | -364 | - |
| Loss on disposal of fixed assets | - | -313 | 15 | -6 |
| Gain on life insurance death benefit | - | 8 | - | - |
| Decrease in cash surrender value of life insurance, net | 135 | -352 | 142 | 258 |
| Increase in accrued interest receivable | 1,144 | -2,149 | 911 | 3,311 |
| Decrease in other assets | -505 | 12,650 | 5,818 | -3,117 |
| Decrease in accrued expenses and other liabilities | -3,406 | -27,872 | 28,760 | -23,959 |
| Net cash provided by/(used in) operating activities | 24,595 | -1,124 | 36,186 | 8,070 |
| Principal repayments, maturities and calls of securities available for sale | 178,179 | 205,618 | 169,027 | 348,176 |
| Principal repayments, maturities and calls of securities held to maturity | 16,364 | 1,531 | 1,191 | 2,971 |
| Redemptions of fhlb and frb stock | 29,310 | 4,776 | 93 | 22,212 |
| Proceeds from sales of securities available for sale | 97,019 | 0 | 0 | 53,182 |
| Purchase of securities available for sale | 214,500 | 218,755 | 150,371 | 364,303 |
| Purchase of fhlb and frb stock | 28,875 | 7,994 | 13 | 21,306 |
| Proceeds from sale of loans held for sale at lower of cost or fair value | - | -1,250 | 364 | - |
| Net increase in loans, net of participations sold | 191,973 | 241,293 | 217,848 | 308,990 |
| Purchase of premises and equipment | 1,294 | 2,521 | 2,186 | 9,610 |
| Disposal of premises and equipment | -61 | 274 | -21 | -16 |
| Shares repurchased | - | 0 | 2,666 | 2,778 |
| Net cash used in investing activities | -115,709 | -257,662 | -200,450 | -277,652 |
| Net increase in deposits | 237,787 | 26,817 | 199,039 | 234,101 |
| Net decrease in short-term borrowings | -9,437 | 73,267 | - | - |
| Dividends paid on common stock | 879 | 877 | 877 | 1,767 |
| Exercise of stock options, net of stock swaps | - | 0 | - | - |
| Restricted stock repurchased on vesting to pay taxes | 1,074 | 0 | 0 | 1,249 |
| Repayment of subordinated debt | 100,000 | 0 | 0 | 35,000 |
| Equity adjustment related to reit minority interest | - | -58 | - | - |
| Proceeds from issuance of preferred stock | 30,000 | 0 | - | - |
| Issuance of shares for employee stock purchase plan | 311 | 271 | 352 | 510 |
| Net cash provided by financing activities | 156,708 | 99,420 | 195,848 | 193,817 |
| Net increase/(decrease) in cash and cash equivalents | 65,594 | -159,366 | 31,584 | -75,765 |
| Cash and cash equivalents at beginning of period | 187,820 | 347,186 | 391,367 | - |
| Cash and cash equivalents at end of period | 253,414 | 187,820 | 347,186 | - |
PEAPACK GLADSTONE FINANCIAL CORP (PGC)
PEAPACK GLADSTONE FINANCIAL CORP (PGC)