Peapack-Gladstone Financial is a New Jersey-based bank holding company that operates as Peapack Private Bank & Trust, serving the New York metropolitan area. The bank has two core businesses: wealth management and commercial private banking. The wealth management division manages $13.1B in assets under management and/or administration for high-net-worth individuals, families, foundations, endowments, and trusts, providing fiduciary, investment management, and tax services. The commercial private banking division provides lending and depository services to business owners, professionals, and real estate investors, offering C&I loans, working capital lines, commercial mortgages, multifamily mortgages, and equipment financing. Peapack Private positions itself as a high-touch boutique alternative to large banks, using a single point-of-contact model where one private banker delivers integrated lending, wealth, treasury, and depository solutions to each client. The bank earns revenue through two streams: net interest income from its loan and deposit book, and recurring fee income from wealth management AUM. Peapack Private's cross-sell model is central to profitability — wealth management clients become banking clients and vice versa. The bank has been expanding aggressively into Metropolitan New York, hiring private banking teams and opening a NYC flagship location in April 2025, targeting the dense concentration of high-net-worth individuals and businesses in that market. Peapack Private also intends to grow AUM through acquisitions of complementary wealth management businesses.