On March 26, 2026, Peapack-Gladstone Financial Corporation, the holding company for Peapack Private Bank & Trust, issued 30,000 shares of newly-created 6.00% Non-Cumulative Perpetual Convertible Preferred Stock in a private placement transaction, resulting in gross proceeds of $30.0 million.  Additionally, the Company has the right, in its sole discretion, to sell an additional 20,000 shares of the Preferred Stock  by December 31, 2027.

Luse Gorman served as legal counsel to Peapack-Gladstone Financial Corporation in the transaction. The Luse Gorman team consisted of Scott A. Brown, Lawrence M.F. Spaccasi, Marc P. Levy, and Babette M. Schwartz.

Peapack-Gladstone Financial Corporation had total consolidated assets of $7.5 billion and assets under management and/or administration of $13.1 billion as of December 31, 2025.

Luse Gorman has extensive experience representing issuers in public offerings of capital stock, debt, and other securities. To learn more about our Capital Markets and Corporate Finance practice, please visit our website.