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Stock impact report

Peapack-Gladstone Financial Corporation Reports Second Quarter Results [Yahoo! Finance]

Peapack-Gladstone Financial Corporation (PGC) 
Last peapack-gladstone financial corporation earnings: 1/29 09:00 am Check Earnings Report
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/1137117
Company Research Source: Yahoo! Finance
This earnings release should be read in conjunction with the Company's Q2 2024 Investor Update, a copy of which is available on our website at www.pgbank.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov During the second quarter of 2024, core relationship deposits grew $354 million to $4.6 billion which represents an annualized rate of 33%. During the first six months of the year core relationship deposits have grown by $524 million. Strong growth in core relationship deposit balances have enabled the Company to repay $119.5 million of all outstanding short-term borrowings as of June 30, 2024. The improvement in the Company's liquidity profile also resulted in an increase in the net interest margin compared to the previous quarter. The net interest margin increased to 2.25% for the quarter ended June 30, 2024, compared to 2.20% for the quarter ended March 31, 2024. The Company recorded total revenue of $56.6 millio Show less Read more
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