<SEC-DOCUMENT>0001564590-18-016449.txt : 20180629
<SEC-HEADER>0001564590-18-016449.hdr.sgml : 20180629
<ACCEPTANCE-DATETIME>20180629152005
ACCESSION NUMBER:		0001564590-18-016449
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180629
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180629
DATE AS OF CHANGE:		20180629

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PEAPACK GLADSTONE FINANCIAL CORP
		CENTRAL INDEX KEY:			0001050743
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		IRS NUMBER:				223537895
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16197
		FILM NUMBER:		18929058

	BUSINESS ADDRESS:	
		STREET 1:		500 HILLS DRIVE
		CITY:			BEDMINSTER
		STATE:			NJ
		ZIP:			07921
		BUSINESS PHONE:		9082340700

	MAIL ADDRESS:	
		STREET 1:		500 HILLS DRIVE
		CITY:			BEDMINSTER
		STATE:			NJ
		ZIP:			07921
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>pgc-8k_20180629.htm
<DESCRIPTION>8-K
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">UNITED STATES</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SECURITIES AND EXCHANGE COMMISSION</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">WASHINGTON, D.C. 20549&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">____________</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">FORM 8-K</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">CURRENT REPORT</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">PURSUANT TO SECTION 13 OR 15(d) OF THE</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SECURITIES EXCHANGE ACT OF 1934</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Date of report (Date of earliest event reported)</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">June 29, 2018</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PEAPACK-GLADSTONE FINANCIAL CORPORATION</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Exact Name of Registrant as Specified in Charter)</p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(State or Other Jurisdiction</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Commission</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(I.R.S. Employer</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">File Number)</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Identification No.)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">500 Hills Drive, Suite 300, Bedminster, New Jersey</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">(Zip Code)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Registrant&#8217;s telephone number, including area code</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(908) 234-0700</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:6.85%;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="font-style:italic;">see</font> General Instruction A.2. below):</p>
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<p style="line-height:13pt;text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;letter-spacing:-0.15pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p></td>
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<p style="line-height:13pt;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). <font style="letter-spacing:-0.15pt;font-family:'Times New Roman';"><font style="font-size:12pt;font-family:'Times New Roman'">&#9744;</font></font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act. <font style="letter-spacing:-0.15pt;font-family:'Times New Roman';"><font style="font-size:12pt;font-family:'Times New Roman'">&#9744;</font></font></p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item </font><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">8</font><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">.01</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Other Events</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:6pt;text-align:justify;margin-top:0pt;text-indent:6.85%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On June 25, 2018, Peapack-Gladstone Bank (the &#8220;Bank&#8221;), the wholly owned subsidiary of Peapack-Gladstone Financial Corporation (the &#8220;Company&#8221;), entered into an agreement to acquire Lassus Wherley &amp; Associates (&#8220;Lassus Wherley&#8221;), a registered investment adviser headquartered in New Providence, New Jersey. The Company expects the transaction to close in the third quarter of 2018, subject to the receipt of regulatory approval and other customary closing conditions.&nbsp;&nbsp;</p>
<p style="margin-bottom:6pt;text-align:justify;margin-top:0pt;text-indent:6.85%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The purchase price is comprised of a cash payment to be made at closing, and common stock and cash to be paid out over a four-year period, subject to the satisfaction of certain client retention and net revenue growth goals.&nbsp;&nbsp;</p>
<p style="margin-bottom:6pt;text-align:justify;margin-top:0pt;text-indent:5.99%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The transaction will provide certain strategic synergies and benefits, including that:</p>
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<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:12pt;"><font style="font-family:Times New Roman;">Mmes. Lassus and Wherley will continue in their roles as President and CEO, respectively of Lassus Wherley.</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-family:'Times New Roman';font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:'Times New Roman';font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#x2022;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:12pt;"><font style="font-family:Times New Roman;">Lassus Wherley will add depth to the Bank&#8217;s already high-caliber wealth management team, and will add to the Bank&#8217;s capabilities to provide expert and timely advice and services to clients.&nbsp;&nbsp;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:12pt;"><font style="font-family:Times New Roman;">The purchase is consistent with the Company&#8217;s strategy to supplement the organic growth of its wealth management business with strategic and complementary acquisitions.</font></p></td></tr></table></div>
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<p style="margin-top:0pt;margin-bottom:6pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:12pt;"><font style="font-family:Times New Roman;">The acquisition provides the Bank the opportunity to provide banking, lending, trust and fiduciary services to the Lassus Wherley client base. </font></p></td></tr></table></div>
<p style="margin-bottom:6pt;text-align:justify;margin-top:0pt;text-indent:6.85%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">From a financial perspective:</p>
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<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;font-family:'Times New Roman';font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:'Times New Roman';font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#x2022;</font></p></td>
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<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:12pt;"><font style="font-family:Times New Roman;">The acquisition will increase the assets under management and/or administration of the Private Wealth Management Division of the Bank by over $500 million.&nbsp;&nbsp;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:12pt;"><font style="font-family:Times New Roman;">The Company believes that the purchase will have a minimal impact on tangible capital and tangible book value per share.&nbsp;&nbsp;</font></p></td></tr></table></div>
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<p style="margin-top:0pt;margin-bottom:6pt;text-align:justify;font-family:'Times New Roman';font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:'Times New Roman';font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#x2022;</font></p></td>
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<p style="margin-top:0pt;margin-bottom:6pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:12pt;"><font style="font-family:Times New Roman;">After up front transaction costs, the Company anticipates the purchase will be immediately accretive to earnings.</font></p></td></tr></table></div>
<p style="margin-bottom:6pt;text-align:justify;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company issued a press release dated June 29, 2018 regarding the acquisition and such press release is filed herewith as Exhibit 99.1 and incorporated by reference herein.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Forward-Looking Statements</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.&nbsp;&nbsp;Such statements are not historical facts and include expressions about management&#8217;s confidence and strategies and management&#8217;s expectations about new and existing programs and products, investments, relationships, opportunities and market conditions.&nbsp;&nbsp;These statements may be identified by such forward-looking terminology as &#8220;expect&#8221;, &#8220;look&#8221;, &#8220;believe&#8221;, &#8220;anticipate&#8221;, &#8220;may&#8221;, or similar statements or variations of such terms.&nbsp;&nbsp;Actual results may differ materially from such forward-looking statements.&nbsp;&nbsp;Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to:</p>
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<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability to realize expected revenue synergies from our wealth acquisitions in the amounts or the timeframe anticipated;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability to retain customers and employees from our wealth acquisitions;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><a name="_AEIOULastRenderedPageBreakAEIOU3"></a><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-size:12pt;font-family:Times New Roman;">inability to successfully grow our business and implement</font><font style="font-size:12pt;font-family:Times New Roman;"> our strategic plan, including an inability to generate revenues to offset the increased personnel and other costs related to the strategic plan;</font><font style="font-size:12pt;font-family:Times New Roman;"> </font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">the impact of anticipated higher operating expenses in 2018 and beyond;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability to successfully integrate our expanded employee base; </font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">unexpected decline in the economy, in particular in our New Jersey and New York market areas;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">declines in our net interest margin caused by the low interest rate environment and highly competitive market;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">declines in value in our investment portfolio;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">higher than expected increases in our allowance for loan and lease losses;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">higher than expected increases in loan and lease losses or in the level of nonperforming loans;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">unexpected changes in interest rates;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">an unexpected decline in real estate values within our market areas;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">legislative and regulatory actions (including the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Basel III and related regulations) subject us to additional regulatory oversight which may result in increased compliance costs;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">successful cyberattacks against our IT infrastructure and that of our IT providers;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">higher than expected FDIC insurance premiums;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">adverse weather conditions;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability</font><font style="font-size:10pt;font-family:Times New Roman;"> </font><font style="font-size:12pt;font-family:Times New Roman;">to successfully generate new business in new geographic markets;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability to execute upon new business initiatives;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">lack of liquidity to fund our various cash obligations;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">reduction in our lower-cost funding sources;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">our inability to adapt to technological changes;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">claims and litigation pertaining to fiduciary responsibility, environmental laws and other matters; and</font></p></td></tr></table></div>
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<p style="margin-top:0pt;margin-bottom:10pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-top:0pt;margin-bottom:10pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">other unexpected material adverse changes in our operations or earnings.</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A discussion of these and other factors that could affect our results is included in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2017. We undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company&#8217;s expectations.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.</p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:12pt;text-align:justify;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU4"></a><font style="font-weight:bold;color:#000000;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item 9.01. </font><font style="margin-left:36pt;">Financial Statements and Exhibits.</font></p>
<p style="margin-bottom:12pt;text-align:justify;margin-top:0pt;text-indent:6.85%;font-style:italic;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;"><a name="_DV_M36"></a><a name="_DV_M37"></a>(d)<font style="font-style:normal;margin-left:36pt;"></font>Exhibits.</p>
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<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">99.1</p></td>
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<p style="margin-bottom:3pt;margin-top:3pt;text-align:justify;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="pgc-ex991_6.htm"><font style="text-decoration:underline;">Press release dated June 29, 2018</font></a></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU5"></a><br /></p>
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<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:6.85%;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SIGNATURE</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:6.85%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;margin-left:54.79%;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PEAPACK-GLADSTONE FINANCIAL CORPORATION</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dated:</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">June 29, 2018</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By:&nbsp;&nbsp;</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ Jeffrey J. Carfora</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Name:</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Jeffrey J. Carfora</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Title:</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Senior Executive Vice President and</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Chief Financial Officer</p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:54.79%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:6.85%;">Exhibit 99.1</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:54.79%;text-indent:6.85%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Subject Line:<font style="font-weight:normal;">&nbsp;&nbsp;Peapack-Gladstone Financial Corporation to Acquire Lassus Wherley &amp; Associates, P.C. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="margin-bottom:6pt;text-align:justify;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Bedminster, New Jersey &#8211; June 29, 2018 &#8211;<font style="font-weight:normal;"> Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market:&#160; PGC), parent company of&#160;Peapack-Gladstone Bank (the &#8220;Bank&#8221;), announced today that it has entered into an agreement to acquire New Providence, NJ-based Lassus Wherley &amp; Associates, P.C. (&#8220;Lassus Wherley&#8221;). T</font><font style="color:#000000;font-weight:normal;">he Company anticipates that the purchase will be immediately accretive to earnings.&nbsp;&nbsp;The transaction is expected to close in the third quarter of 2018, subject to the receipt of regulatory approval and other customary closing conditions, and is expected to increase assets under management and/or administration (&#8220;AUA&#8221;) by over $500 million.</font></p>
<p style="margin-bottom:6pt;text-align:justify;margin-top:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Established in 1985, Lassus Wherley, is a fee-only wealth management firm headquartered in New Providence with an additional location in Bonita Springs, Florida.&nbsp;&nbsp;The firm has expertise in financial planning, investment management, tax preparation, trust services, and family office support. They assist individuals, couples, families, pension and profit sharing plans, trusts, estates, and charitable organizations in identifying their needs, desires, and goals. Using a team approach, developed over more than 30 years, they have helped hundreds of clients build secure financial futures.</p>
<p style="margin-bottom:6pt;text-align:justify;margin-top:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Lassus Wherley believes in providing clients with peace of mind. They believe in integrity, transparency and building solid relationships,&#8221; said John P. Babcock, President of Peapack Private Wealth Management.&nbsp;&nbsp;He continued, &#8220;We continue to look for talented firms, that are like-minded and built on the foundation of providing advice-led solutions, and doing the right thing. We are looking forward to introducing Lassus Wherley as a valuable part of the Peapack Private brand.&#8221;</p>
<p style="margin-bottom:6pt;text-align:justify;margin-top:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;We are very excited to be joining the private wealth management division of Peapack-Gladstone Bank. We share a reputation and culture of integrity and enormous concern for clients and employees. This partnership will allow us to continue to focus on expanding services to clients while continuing to do what we do well,&#8221; said Diahann W. Lassus, President of Lassus Wherley.&nbsp;&nbsp;</p>
<p style="margin-bottom:6pt;text-align:justify;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The private wealth management division of Peapack-Gladstone Bank, <font style="color:#000000;">Peapack Private, is one of the largest trust company and asset managers in New Jersey, with </font>a market value of approximately <font style="color:#000000;">$5.6 billion of AUA at March 31, 2018.&nbsp;&nbsp;The Lassus Wherley transaction is the fourth in as many years.&nbsp;&nbsp;Along with the 2015 acquisition of Wealth Management Consultants and the 2017 acquisitions of Murphy Capital Management and Quadrant Capital Management, the expected purchase of Lassus Wherley provides an additional opportunity for Peapack-Gladstone Bank to expand its wealth management capabilities and increase its presence in the New Jersey and Tri-State region.</font></p>
<p style="margin-bottom:6pt;text-align:justify;margin-top:0pt;text-indent:0%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Park Sutton Advisors LLC served as exclusive financial advisor to Peapack-Gladstone Bank on this transaction.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">About the Company</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Peapack-Gladstone Financial Corporation is a New Jersey bank holding company with total assets of $4.34 billion as of March 31, 2018.&nbsp;&nbsp;Founded in 1921, Peapack-Gladstone Bank is a commercial bank that provides innovative private banking services to businesses, non-profits and consumers, which help them to establish, maintain and expand their legacy.&nbsp;&nbsp;Through its private banking and wealth management locations in Bedminster, Gladstone, Fairfield, Morristown, Princeton and Teaneck, and a trust office in Greenville, DE, Peapack-Gladstone Bank offers an unparalleled commitment to client service through its private wealth management, commercial private banking, retail private banking and residential lending divisions, along with its online platforms.</p>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Forward Looking Statements</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.&nbsp;&nbsp;Such statements are not historical facts and include expressions about management&#8217;s confidence and strategies and management&#8217;s expectations about new and existing programs and products, investments, relationships, opportunities and market conditions.&nbsp;&nbsp;These statements may be identified by such forward-looking terminology as &#8220;expect&#8221;, &#8220;look&#8221;, &#8220;believe&#8221;, &#8220;anticipate&#8221;, &#8220;may&#8221;, or similar statements or variations of such terms.&nbsp;&nbsp;Actual results may differ materially from such forward-looking statements.&nbsp;&nbsp;Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to:</p>
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<p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability to realize expected revenue synergies from our wealth acquisitions in the amounts or the timeframe anticipated;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability to retain customers and employees from our wealth acquisitions;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability to successfully grow our business and implement our strategic plan, including an inability to generate revenues to offset the increased personnel and other costs related to the strategic plan; </font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">the impact of anticipated higher operating expenses in 2018 and beyond;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability to manage and/or fund our growth;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability to successfully integrate our expanded employee base; </font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">unexpected decline in the economy, in particular in our New Jersey and New York market areas;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">declines in our net interest margin caused by the low interest rate environment and highly competitive market;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">declines in value in our investment portfolio;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">unexpected changes in interest rates;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">successful cyberattacks against our IT infrastructure and that of our IT providers;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">adverse weather conditions;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability to successfully generate new business in new geographic markets;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">inability to execute upon new business initiatives;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">lack of liquidity to fund our various cash obligations;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">reduction in our lower-cost funding sources;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">our inability to adapt to technological changes;</font></p></td></tr></table></div>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">claims and litigation pertaining to fiduciary responsibility, environmental laws and other matters; and</font></p></td></tr></table></div>
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<p style="margin-top:0pt;margin-bottom:10pt;text-align:justify;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-top:0pt;margin-bottom:10pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:12pt;font-family:Times New Roman;">other unexpected material adverse changes in our operations or earnings.</font></p></td></tr></table></div>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A discussion of these and other factors that could affect our results is included in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2017. We undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company&#8217;s expectations.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">###</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Contact:&nbsp;&nbsp;Denise M. Pace-Sanders, Senior Vice President Brand and Marketing Director, dpace@pgbank.com, 908.470.3322, Peapack-Gladstone Bank, 500 Hills Drive, Suite 300, Bedminster, NJ 07921.</p>
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