Peapack Private Bank & Trust has made a significant addition to its Commercial Real Estate (CRE) team by appointing Nicholas LaMorte as a Senior Managing Director. With over 20 years of experience in real estate finance, LaMorte's expertise is expected to play a pivotal role in the bank's efforts to grow its commercial loan portfolio and penetrate new markets. His previous role as Senior Vice President and Group Director at Signature Bank saw him build a commercial real estate portfolio with loan balances nearing $3.8 billion, showcasing his ability to drive substantial growth in the sector.
LaMorte's responsibilities at Peapack will focus on enhancing the bank's footprint in untapped markets, boosting loan production, and further developing the CRE portfolio. A graduate of Pace University's Lubin School of Business, his deep understanding of the financial and depository needs within the New York Metropolitan area will be invaluable. This hiring underscores Peapack-Gladstone Financial Corporation's dedication to expanding its services and reinforcing its position as a leading financial services provider. The corporation, with total assets of $7.0 billion and assets under management of $11.9 billion as of December 31, 2024, is poised for further growth under LaMorte's leadership.
For more information on Peapack Private Bank & Trust's services, visit https://www.peapack.com. LaMorte's appointment is a clear indicator of the bank's commitment to leveraging top-tier talent to meet the evolving needs of its clients and the broader market.
