Peapack-Gladstone Financial Corporation (PGC)

PGC Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	295.97	278.17	195.2	147.81	155.79	165.66
Interest Income on Investments	25.84	25.84	16.68	12.25	9.96	15.01
Total Interest Income	321.81	304.01	211.88	160.07	165.75	180.67
Interest Paid on Deposits	152.99	122.88	29.49	14.22	28.84	51.18
Interest Paid on Borrowings	25.05	25.05	6.3	7.79	9.31	9.22
Total Interest Expense	178.04	147.92	35.8	22.01	38.15	60.4
Net Interest Income	143.77	156.09	176.08	138.06	127.6	120.27
Net Interest Income Growth (YoY)	-14.14%	-11.35%	27.54%	8.20%	6.09%	4.44%
Trust Income	59.73	55.75	54.65	52.99	40.86	38.36
Gain (Loss) on Sale of Assets	-	-	0.28	-	-	-
Gain (Loss) on Sale of Investments	0.86	0.18	-8.31	-0.43	0.28	0.12
Other Non-Interest Income	14.55	15.09	12.53	10.96	8.16	13.36
Total Non-Interest Income	76.74	73.54	66.39	71.79	61.76	54.7
Non-Interest Income Growth (YoY)	5.45%	10.77%	-7.52%	16.24%	12.92%	23.77%
Revenues Before Loan Losses	220.52	229.63	242.47	209.85	189.36	174.97
Provision for Loan Losses	10.79	14.09	6.35	6.48	32.4	4
Revenue	209.73	215.54	236.12	203.37	156.96	170.97
Revenue Growth (YoY)	-8.51%	-8.72%	16.10%	29.57%	-8.19%	9.73%
Salaries and Employee Benefits	102.8	89.6	80.95	74.68	70.42	64.06
Occupancy Expenses	18.45	16.27	15.01	17.17	16.38	14.74
Federal Deposit Insurance	3.45	2.95	1.94	2.07	1.98	0.28
Selling, General & Administrative	16.26	16.26	14.11	8.47	8.73	7.43
Other Non-Interest Expense	23.91	22.66	21.58	22.9	17.76	18.34
Total Non-Interest Expense	164.87	147.73	133.6	125.29	119.69	104.85
EBT Excluding Unusual Items	44.86	67.81	102.52	78.08	37.28	66.12
Other Unusual Items	-	-	-	-0.65	-4.78	-
Pretax Income	44.34	67.28	102.34	77.66	32	66.12
Income Tax Expense	11.99	18.43	28.1	21.04	5.81	18.69
Net Income	32.35	48.85	74.25	56.62	26.19	47.43
Net Income to Common	32.35	48.85	74.25	56.62	26.19	47.43
Net Income Growth	-46.83%	-34.20%	31.13%	116.18%	-44.78%	7.39%
Basic Shares Outstanding	18	18	18	19	19	19
Diluted Shares Outstanding	18	18	19	19	19	19
Shares Change (YoY)	-1.97%	-2.80%	-3.76%	1.11%	-1.70%	1.37%
EPS (Basic)	1.83	2.74	4.09	3.01	1.39	2.46
EPS (Diluted)	1.82	2.71	4.00	2.93	1.37	2.44
EPS Growth	-45.81%	-32.25%	36.52%	113.87%	-43.85%	5.63%
Dividend Per Share	0.200	0.200	0.200	0.200	0.200	0.200
Effective Tax Rate	27.04%	27.39%	27.45%	27.09%	18.16%	28.26%

Source: S&P Capital IQ. Banks template. Financial Sources.