Peapack-Gladstone Financial Corporation And Peapack Private, Announces New York City Expansion

Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC) and Peapack Private, a division of Peapack-Gladstone Bank, boldly continue to move into New York City with the hiring of Andrew F. Corrado and more than 10 teams of commercial and private bankers.  Andrew, fresh off his long tenure from Signature Bank and its successor Flagstar Bank, is now the President of the Commercial Bank in New York for Peapack Private.  He will lead the Bank's NY expansion and oversee its presence in Manhattan, leveraging the combined experience of more than 50 bankers to ensure the successful growth of the Company.

"We are continuing to move aggressively into New York City due to the market disruption that occurred last spring," said Doug Kennedy, President and Chief Executive Officer of Peapack-Gladstone Bank.  "Our expansion last summer has been well-received.  The additional investment we are making today by hiring Andrew and multiple teams of commercial and private bankers capitalizes on the momentum we've achieved to date."

Corrado has extensive experience in building relationships and expects to easily align client goals and objectives with Peapack Private's offering of customized and innovative private banking solutions.  Collectively, his private banking teams manage several billion in deposits and loans, covering Manhattan and the surrounding areas.

"We were attracted to the single-point-of-contact model that Peapack Private offers, along with the added value of its wealth management solutions," commented Corrado. "This is a win for my service teams, our clients and NY.  It just could not get any better."

Andrew brings more than 35 years of experience to Peapack Private, previously serving as Executive Vice President, Head of Commercial and Private Banking – Northeast, and Senior Vice President, Group Director, at Flagstar Bank, formerly Signature Bank, New York, NY.  Prior to that as Senior Vice President and Head of Professional Services and Private Banking at Capital One Bank in NY, he developed and executed vision and strategy for commercial bank clients and was responsible for sales and service nationally, managing four regional team leaders.  Additional roles at Capital One Bank included that of Market President, Long Island Region; Senior Vice President and Market Manager for Commercial Private Banking; and Divisional Senior Vice President, Regional Branch Administrator, North Fork Bank, formerly Capital One.  Corrado held additional notable roles at GreenPoint Savings Bank, JP Morgan Chase & Co., and European American Bank.

Andrew holds a B.S.B.A. in Marketing from Bryant University in Rhode Island and an M.B.A. in Marketing Management from Hofstra University in Hempstead, NY.  He is a Board and Finance Committee member of United Cerebral Palsy of Long Island and a Vice Chair and Treasurer of The Maurer Foundation for Breast Health Education.  He is a past President of the Hofstra University Alumni Organization and an active member of the Hofstra Zarb School of Business Dean's Advisory Board.

Peapack Private fully expects to continue offering its private banking service model to the Tri-State area and to grow in the coming years.