Peapack-Gladstone Financial Corporation is taking a significant step forward in its expansion strategy by entering the Long Island market, with new office locations and a focused approach to growth. The bank has already secured temporary commercial space at 175 Broadhollow Road in Melville and has received board approval to pursue permanent retail space at 1010 Franklin Avenue in Garden City. This move is part of a deliberate effort to extend their commercial business and provide direct access to private banking services for clients in the region.
Doug Kennedy, President and CEO of Peapack-Gladstone Financial Corporation, highlighted the strategic importance of this expansion, noting that Long Island represents a natural progression for the bank's growth plans. Andrew Corrado, President of Peapack Private's New York office, further emphasized the bank's competitive positioning in the market, stating that after establishing a strong presence in New York City, the institution is now ready to introduce its unique private banking model to Long Island clients.
The expansion is supported by the addition of key personnel, including Joseph Fingerman as President of the Commercial Real Estate division. Fingerman and his team will focus on covering the New York metro area, including Long Island, which aligns with the bank's growth objectives. With total assets of $7.1 billion and assets under management of $11.8 billion as of March 31, 2025, Peapack-Gladstone Financial Corporation is well-positioned to make a significant impact in the Long Island market.
This strategic move reflects the bank's commitment to offering high-quality, customized financial services to individuals, businesses, and organizations. By establishing a presence in Long Island, Peapack Private Bank & Trust aims to leverage its successful business model to attract new clients seeking personalized banking experiences. The bank's client-centric approach includes comprehensive wealth management, investment banking, and commercial and personal banking solutions, making it a formidable player in the financial services industry.
