PGC earnings analysis
What we found in PGC's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Second-quarter diluted EPS of $0.85 improved from $0.80 in the prior quarter and $0.45 a year earlier, while revenue of $86.052 million modestly exceeded consensus. The filing does not provide enough information to calculate gross margin, operating margin, free cash flow, working-capital changes, or segment performance. Interest-rate exposure is the main filing-specific concern: management describes the balance sheet as modestly liability sensitive in the near term, with modeled NII pressure under rising rates and more pronounced second-year pressure under falling rates. No material changes to the prior 10-K risk factors or quantitative forward guidance were disclosed.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS improved sequentially and year over year
- Diluted EPS was $0.85, up from $0.80 in the prior quarter and $0.45 in the year-ago quarter, although it was below the $0.87 consensus estimate.
- Revenue modestly beat consensus
- Reported revenue was $86.052 million, exceeding the $85.301 million consensus estimate by approximately $0.751 million, or 0.9%.
- Interest-rate risk hedging remains substantial
- The company uses interest-rate swaps to manage liability duration; the primary swap program had $280.0 million of notional value outstanding at June 30, 2026.
- Commercial loan swap program expanded risk management
- The commercial lending back-to-back swap program had $405.9 million of notional value executed and outstanding with borrowers as of June 30, 2026.
- Share repurchase capacity remains available
- The company maintained an authorization to repurchase up to 880,000 shares through December 31, 2026, with 680,000 shares remaining available at June 30, 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Near-term liability sensitivity
- Management characterized the company as modestly liability sensitive in the near term: an immediate and sustained 100-basis-point rate increase would reduce first-year net interest income by 1.1%, while a 200-basis-point decrease would reduce second-year net interest income by 8.8%.
- Interest-rate model limitations
- The filing states that interest-rate simulation models assume the balance-sheet composition remains constant and apply rate changes uniformly across the yield curve; actual results may differ from the modeled 1.1% first-year NII decline under a 100-basis-point increase.
- No new risk-factor update
- The company disclosed no material changes to the risk factors in its December 31, 2025 Form 10-K, so existing credit, liquidity, market and operational risks remain applicable without a new filing-specific update.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.85
What they said about what is next.
No quantitative forward revenue or EPS guidance, outlook revision, or other numerical outlook was provided in the filing.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 8, 2026
- Peapack-Gladstone Financial Corporation reported strong Q1 2026 results, with revenue of $82.5 million and EPS of $0.80, marking significant year-over-year growth. The company's net interest income rose significantly…
- 10-K · March 11, 2026
- Peapack-Gladstone’s 2025 10-K emphasizes a deposit-led, relationship-driven private banking strategy, continued expansion in Metro New York (NYC flagship opened April 2025) and a growing wealth business (AUM $13.1…
- 10-Q · May 9, 2025
- Peapack-Gladstone reported quarter with total revenue (net interest income before provision + other income) of $64,359,000, up $11,283,000 or 21.3% year-over-year, but net income and EPS declined to $7,595,000 and $0.43…
- 10-K · March 12, 2025
- Peapack-Gladstone positions itself as a relationship-focused regional bank with a diversified mix anchored by a wealth management division ($11.9 billion AUM as of 12/31/2024) and targeted expansion into the New York…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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