Peapack-Gladstone Financial Corporation celebrates the fifth anniversary of the launch of its equipment leasing and financing arm, Peapack Capital.

Over the past five years, Peapack Capital, a Peapack-Gladstone Bank subsidiary founded in April of 2017, has originated over $1.3 billion in new business and has grown its team from six to 16. 2021 was a record year for new business originations and the leasing portfolio totaled more than $775 million at year-end.

“Peapack Capital has consistently achieved its new business goals and has created a strong and diversified portfolio that has performed very well despite a challenging environment,” said Greg Smith, Senior Executive Vice President and Head of Commercial Banking at Peapack-Gladstone Bank. “The equipment financing business is an important part of our commercial banking strategy. Our full suite of leasing solutions is a significant contributor to the bank’s overall results.”

“We are proud to reach this early milestone and to have built a cohesive team of talented professionals, who excel at providing best-in-class service,” said Smith. “And we are thankful to our partners and clients who have trusted us to help them achieve their goals.”

Peapack Capital is headquartered in Bedminster, NJ and provides equipment and asset financing from $5 million to $30 million to middle market and large corporate customers across the United States.