GLADSTONE, N.J.--(BUSINESS WIRE)--
Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market:
PGC), the holding company for Peapack-Gladstone Bank, announces it
will relocate its administrative offices in the summer of 2010 to 500
Hills Drive, Bedminster, New Jersey.
Peapack-Gladstone Bank currently occupies approximately 25,000 square
feet of space on Route 206 in Gladstone where its various administrative
departments have been located for 15 years. The group will move, along
with its main PGB Trust & Investments office currently located in a
separate Gladstone building, to a new facility in Bedminster, at 500
Hills Drive. The Bank will occupy approximately 40,000 square feet of
space.
"This move is affording us the opportunity to position the majority of
our administrative departments under one roof," said Frank A. Kissel,
Chairman and Chief Executive Officer. "We are excited about this because
we have been spread apart for many years." He added, "Bringing everyone
together in one location will allow us to work more closely with one
another, ultimately allowing us to provide our customers with better
service."
The administrative offices of Peapack-Gladstone Bank moved to its
current building when the Bank had approximately $250 million in assets.
The Bank, founded in 1921, now has $1.49 billion in assets and is
continuing to grow. Current real estate market conditions have allowed
the Bank the opportunity to secure long-term space in a location that is
close to its roots and one that will provide for the expected growth and
expansion that will come as the economy improves.
"Our new headquarters facility is in a very visible and recognizable
location, convenient for our customers and easily accessible from Route
206," said Kissel. "We have a branch located directly across the street
and are just a few minutes down the road from where our journey began -
the location truly presented the best of everything for us."
Peapack-Gladstone Bank's locations will continue to service customers in
Hunterdon, Middlesex, Morris, Somerset and Union counties. PGB Trust &
Investments, the Bank's trust division, will continue to provide clients
personal service through the new main location in Bedminster, as well as
four satellite offices in Clinton, Morristown, Summit and Bethlehem,
Pennsylvania.
Established in 1921, Peapack-Gladstone Bank is a $1.49 billion asset,
wholly owned community bank that offers a full range of quality banking
products and services to businesses and residents of New Jersey, through
24 full-service branches, an online branch and a trust division. In
addition to its personal and business banking product line,
Peapack-Gladstone Bank offers consumer and commercial lending products
and services like auto and home equity loans and lines of credit,
residential mortgages, commercial mortgages, term loans, lines of credit
and construction loans. For additional information about
Peapack-Gladstone Bank or to open an account online, visit www.pgbank.com
or call 908-234-0700. Member FDIC. Equal Housing Lender.
Source: Peapack-Gladstone Financial Corporation
Contact: Peapack-Gladstone Financial Corporation
Denise M. Pace-Sanders, 908-470-3322
VP Marketing Director
dpace@pgbank.com
or
Peapack-Gladstone Bank
158 Route 206 North
PO Box 178
Gladstone, NJ 07934