<SEC-DOCUMENT>0001564590-18-022751.txt : 20180906
<SEC-HEADER>0001564590-18-022751.hdr.sgml : 20180906
<ACCEPTANCE-DATETIME>20180906155617
ACCESSION NUMBER:		0001564590-18-022751
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180904
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180906
DATE AS OF CHANGE:		20180906

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:		181057552

	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_20180906.htm
<DESCRIPTION>8-K
<TEXT>
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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>
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<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;">September 4, 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:center;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:center;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;">07921</p></td>
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<p style="text-align:center;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;letter-spacing:-0.15pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';"><font style="letter-spacing:-0.15pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';"></font><font style="font-size:12pt;font-family:'Times New Roman'">&#9744;</font></p></td>
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<p style="line-height:13pt;text-align:justify;margin-bottom:0pt;margin-top:0pt;letter-spacing:-0.15pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p></td></tr></table></div>
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<p style="line-height:13pt;text-align:justify;margin-bottom:0pt;margin-top:0pt;letter-spacing:-0.15pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p></td></tr></table></div>
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<p style="line-height:13pt;text-align:justify;margin-bottom:0pt;margin-top:0pt;letter-spacing:-0.15pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';"><font style="letter-spacing:-0.15pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';"></font><font style="font-size:12pt;font-family:'Times New Roman'">&#9744;</font></p></td>
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<p style="line-height:13pt;text-align:justify;margin-bottom:0pt;margin-top:0pt;letter-spacing:-0.15pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p></td></tr></table></div>
<p style="line-height:13pt;margin-bottom:0pt;margin-top:0pt;margin-left:6.85%;text-indent:-3.42%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="line-height:13pt;text-align:justify;margin-bottom:0pt;margin-top:0pt;letter-spacing:-0.15pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';"><font style="letter-spacing:-0.15pt;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';"></font><font style="font-size:12pt;font-family:'Times New Roman'">&#9744;</font></p></td>
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<p style="line-height:13pt;text-align:justify;margin-bottom:0pt;margin-top:0pt;letter-spacing:-0.15pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p></td></tr></table></div>
<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). _____</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. ______</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:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;">&nbsp;</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>
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<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;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;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;">Item </font><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">8.01</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;"></font><font style="font-weight:bold;"></font><font style="font-weight:bold;">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:5.14%;color:#000000;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On September 4, 2018, Peapack-Gladstone Financial Corporation, (the &#8220;Company&#8221;), parent company of Peapack-Gladstone Bank (the &#8220;Bank&#8221;) announced that it completed the acquisition of <font style="color:#000000;">New Providence, NJ-based Lassus Wherley &amp; Associates (&#8220;Lassus Wherley&#8221;), </font>effective <font style="color:#000000;">September 1, 2018.&nbsp;&nbsp;A copy of the press release announcing the completion of the transaction is attached hereto as Exhibit 99.1 and incorporated herein by reference.&nbsp;&nbsp;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:5.14%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The <font style="color:#000000;">following</font> should also be noted 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;">Upon acquisition, Lassus Wherley had over $500 million of Assets Under Management (&#8220;AUM&#8221;). </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;">The Company believes that Lassus Wherley will generally contribute to revenue approximately 75 basis points of AUM during the first full year after acquisition.</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;">The Company believes that operating expenses (exclusive of up front transaction costs) related to Lassus Wherley will run approximately 70 percent of revenue during the first full year after acquisition.</font></p></td></tr></table></div>
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<p style="margin-top:0pt;margin-bottom:8pt;text-align:justify;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:'Times New Roman';font-size:12pt;">&nbsp;</p></td>
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<p style="margin-top:0pt;margin-bottom:8pt;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:8pt;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;">Excluding up front transaction costs, the Company anticipates the purchase will be immediately accretive to earnings.</font></p></td></tr></table></div>
<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-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;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 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-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;">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-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 successfully integrate the operations of wealth management firms that we acquire;</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 successfully generate deposits to appropriately fund growth;</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 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-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 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-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;">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-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;">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-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 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-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 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;">changes in the federal or New Jersey tax code;</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;">the imposition of tariffs or other domestic or international governmental policies impacting the value of the products or the Bank&#8217;s borrowers;</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;">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;">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;"><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;">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 complianc</font><font style="font-size:12pt;font-family:Times New Roman;">e costs;</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;">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-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-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-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>
<p style="margin-bottom:6pt;margin-top:0pt;margin-left:6.85%;text-indent:6.85%;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;">Item 9.01. <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 September 4, 2018</font></a></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: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>
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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;">PEAPACK-GLADSTONE FINANCIAL CORPORATION</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;">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;">September 6, 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:</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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<DOCUMENT>
<TYPE>EX-99.1
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<FILENAME>pgc-ex991_6.htm
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<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:14pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 99.1</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:14pt;font-family:Calibri;font-style:normal;text-transform:none;font-variant: normal;">FOR IMMEDIATE RELEASE</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:14pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Subject Line:&nbsp;&nbsp;Peapack-Gladstone Financial Corporation Finalizes Acquisition of Lassus Wherley</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:0pt;text-indent:0%;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Bedminster, New Jersey &#8211; September 4, 2018 &#8211; Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC), parent company of Peapack-Gladstone Bank is pleased to announce that it has completed the acquisition of New Providence, NJ-based Lassus Wherley, effective September 1, 2018.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Founders Diahann W. Lassus and Clare E. Wherley remain as President and Chief Executive Officer, respectively, of the Bank&#8217;s newest subsidiary.&nbsp;&nbsp;The entire Lassus Wherley team will also remain, as the subsidiary joins Peapack Private, the Bank&#8217;s robust wealth management division.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Established in 1985, Lassus Wherley, a prominent and accomplished women-owned business, is a wealth management firm with expertise in financial planning, investment management, tax preparation, trust services, and family office support. They specialize in assisting individuals, couples, families, pension and profit sharing plans, trusts, estates, and charitable organizations, in identifying their needs, desires, and goals. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;Lassus Wherley is a uniquely talented firm,&#8221; said John P. Babcock, President of Peapack Private. &#8220;They share our core values and our vision of putting clients first, working as one team and offering best-in-class solutions.&#8221;&nbsp;&nbsp;He continued, &#8220;We are proud to have the entire Lassus Wherley team join our organization and represent Peapack Private at the highest level.&#8221;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">With a combined market value of approximately $6.2 billion of client assets under management and administration at September 1, 2018, Peapack Private Wealth Management is the largest New Jersey-headquartered, bank-owned trust company in the state.&nbsp;&nbsp;This is the fourth acquisition made by Peapack-Gladstone Financial Corporation since 2015.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:0pt;text-indent:0%;font-size:14pt;font-family:Calibri;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>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="font-size:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">About the Company</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;font-family:Calibri;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 $4.27 billion and assets under management and/or administration of $5.7 billion as of June 30, 2018.  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 Peapack Private Wealth Management, and its private banking locations in Bedminster, Gladstone, Fairfield, Morristown, Princeton and Teaneck, and its 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>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Calibri;font-weight:normal;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:11pt;font-family:Calibri;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.  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.  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.  Actual results may differ materially from such forward-looking statements.  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="text-align:justify;margin-bottom:0pt;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:11pt;">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="text-align:justify;margin-bottom:0pt;margin-top:0pt;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="text-align:justify;margin-bottom:0pt;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:11pt;">the impact of anticipated higher operating expenses in 2018 and beyond;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;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="text-align:justify;margin-bottom:0pt;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:11pt;">inability to successfully integrate the operations of wealth management firms that we acquire;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;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="text-align:justify;margin-bottom:0pt;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:11pt;">inability to successfully generate deposits to appropriately fund growth;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;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:11pt;">inability to successfully integrate our expanded employee base; </font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;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="text-align:justify;margin-bottom:0pt;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:11pt;">an 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="text-align:justify;margin-bottom:0pt;margin-top:0pt;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="text-align:justify;margin-bottom:0pt;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:11pt;">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="text-align:justify;margin-bottom:0pt;margin-top:0pt;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="text-align:justify;margin-bottom:0pt;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:11pt;">declines in value in our investment portfolio;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;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:11pt;">higher than expected increases in our allowance for loan and lease losses;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;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:11pt;">the imposition of tariffs or other domestic or international governmental policies impacting the value of the products or the Bank&#8217;s borrowers;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;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:11pt;">changes in interest rates;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;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:11pt;">decline ic n real estate values within our market areas;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;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:11pt;">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="text-align:justify;margin-bottom:0pt;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:11pt;">successful cyberattacks against our IT infrastructure and that of our IT providers;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;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:11pt;">inability</font><font style="font-size:10pt;"> </font><font style="font-size:11pt;">to successfully generate new business in new geographic markets;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;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:11pt;">inability to execute upon new business initiatives;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;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:11pt;">lack of liquidity to fund our various cash obligations;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;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:11pt;">reduction in our lower-cost funding sources;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;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:11pt;">our inability to adapt to technological changes;</font></p></td></tr></table></div>
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<p style="text-align:justify;margin-bottom:0pt;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:11pt;">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="text-align:justify;margin-top:0pt;margin-bottom:10pt;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="text-align:justify;margin-top:0pt;margin-bottom:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Calibri;font-size:14pt;"><font style="font-size:11pt;">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:11pt;font-family:Calibri;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="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:11pt;font-family:Calibri;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:14pt;font-family:Calibri;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">###</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:14pt;font-family:Calibri;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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