UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarter Ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-16197 PEAPACK-GLADSTONE FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. ...

For the quarter ended June 2025, Peapack-Gladstone (PGC) reported revenue of $69.74 million, up 23.2% over the same period last year. EPS came in at $0.45, compared to $0.42 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $69.43 million, representing a surprise of +0.46%. The company delivered an EPS surprise of -26.23%, with the consensus EPS estimate being $0.61.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Peapack-Gladstone (PGC) came out with quarterly earnings of $0.45 per share, missing the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -26.23%. A quarter ago, it was expected that this bank holding company would post earnings of $0.51 per share when it actually produced earnings of $0.43, delivering a surprise of -15.69%.Over the last four quarte ...

[Financial Performance Highlights](index=1&type=section&id=Financial%20Performance%20Highlights) [Q2 2025 Key Results](index=1&type=section&id=Q2%202025%20Key%20Results) The company reported sequential growth in net income and deposits, alongside an improved net interest margin Q2 2025 vs Q1 2025 Financial Results | Metric | Q2 2025 | Q1 2025 | | :--- | :--- | :--- | | Net Income | $7.9 million | $7.6 million | | Diluted EPS | $0.45 | $0.43 | Deposit Growth as of June 30, 2025 | Metric | Value | Note | | :--- | :--- | :--- | | Total Deposits | $6.4 billion | +12% over last twelve months | | Noninterest-Bearing Deposits | - | +30% over last year; +$53 million in Q2 | | Newly Funded Accounts (Q2) | $282 million | Average weighted cost of 1.88% | Net Interest Income (NII) and Net Interest Margin (NIM) | Period | Net Interest Income | Net Interest Margin | | :--- | :--- | :--- | | Q2 2025 | $48.3 million | 2.77% | | Q1 2025 | $45.5 million | 2.68% | | Q2 2024 | - | 2.25% | [Strategic Initiatives & CEO Remarks](index=1&type=section&id=Strategic%20Initiatives%20%26%20CEO%20Remarks) Strategic expansion into Metro New York drove significant growth, prompting further team additions and a corporate rebranding - The Metro New York expansion has driven significant growth, onboarding over 700 new relationships with more than **$1.3 billion in new core deposit balances** and **$464 million in loan balances**[6](index=6&type=chunk) - The company expanded its footprint by adding **five new production teams** in Long Island during the second quarter[6](index=6&type=chunk) - The company re-branded to **Peapack Private Bank & Trust** to reflect its evolution into a premier boutique private bank in Metro New York[6](index=6&type=chunk) [Detailed Financial Analysis](index=3&type=section&id=Detailed%20Financial%20Analysis) [Income Statement Analysis](index=3&type=section&id=Income%20Statement%20Analysis) Quarterly revenue and net income grew year-over-year, though higher credit loss provisions impacted six-month net income Q2 2025 vs. Q2 2024 Income Statement | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $69.7M | $56.6M | +23% | | Net Interest Income | $48.3M | $35.0M | +38% | | Provision for Credit Losses | $6.6M | $3.9M | +69% | | Net Income | $7.9M | $7.5M | +5% | | Diluted EPS | $0.45 | $0.42 | +7% | Q2 2025 vs. Q1 2025 Income Statement | Metric | Q2 2025 | Q1 2025 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $69.7M | $64.4M | +8% | | Net Interest Income | $48.3M | $45.5M | +6% | | Net Income | $7.9M | $7.6M | +4% | | Diluted EPS | $0.45 | $0.43 | +5% | Six Months Ended June 30, 2025 vs. 2024 | Metric | H1 2025 | H1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Interest Income | $93.8M | $69.4M | +35% | | Provision for Credit Losses | $11.1M | $4.5M | +144% | | Net Income | $15.6M | $16.2M | -4% | [Business Segment & Key Metrics Analysis](index=4&type=section&id=Business%20Segment%20%26%20Key%20Metrics%20Analysis) The company saw growth in wealth management and commercial loans, though rising expenses and deteriorating asset quality present challenges [Wealth Management](index=4&type=section&id=Wealth%20Management) The Wealth Management division grew its AUM/AUA to $12.3 billion, supported by strong new business inflows Wealth Management Metrics | Metric | As of/For Q2 2025 | As of Dec 31, 2024 | | :--- | :--- | :--- | | AUM/AUA | $12.3 billion | $11.9 billion | | Q2 Fee Income | $15.9 million | - | | Q2 New Business Inflows | $193 million | - | [Loans / Commercial Banking](index=4&type=section&id=Loans%20%2F%20Commercial%20Banking) The loan portfolio expanded to $5.8 billion, driven by C&I lending with attractive new loan spreads - Total loans grew to **$5.8 billion** at June 30, 2025, a **5% increase** from $5.5 billion at December 31, 2024[7](index=7&type=chunk)[20](index=20&type=chunk) - Commercial and industrial (C&I) loans grew to **$2.5 billion**, representing **44% of the total loan portfolio** at June 30, 2025[10](index=10&type=chunk)[20](index=20&type=chunk) - New loans originated in 2025 carried an average spread of **more than 450 basis points** above the company's current cost of funds[21](index=21&type=chunk) [Net Interest Income (NII)/Net Interest Margin (NIM)](index=5&type=section&id=Net%20Interest%20Income%20(NII)%2FNet%20Interest%20Margin%20(NIM)) Net interest margin continued its upward trend, reaching 2.77% due to the successful private banking strategy NII and NIM Trends | Metric | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Net Interest Income | $48.3M | $45.5M | $35.0M | | Net Interest Margin | 2.77% | 2.68% | 2.25% | [Funding / Liquidity / Interest Rate Risk Management](index=5&type=section&id=Funding%20%2F%20Liquidity%20%2F%20Interest%20Rate%20Risk%20Management) Deposit growth enhanced balance sheet liquidity, providing robust coverage for uninsured deposits - Total deposits increased to **$6.4 billion** at June 30, 2025, up $234 million from December 31, 2024[23](index=23&type=chunk) - Total on and off-balance sheet liquidity was **$4.6 billion**, which amounts to **277% of total uninsured/uncollateralized deposits**[24](index=24&type=chunk) [Noninterest Income](index=5&type=section&id=Noninterest%20Income) Noninterest income was boosted by strong Capital Markets activity and a one-time gain from a lease termination Capital Markets Activity (in thousands) | Category | Q2 2025 | Q1 2025 | Q2 2024 | | :--- | :--- | :--- | :--- | | Gain on sale of SBA loans | $521 | $302 | $449 | | Fee income on swaps | $221 | $— | $— | | **Total Capital Markets** | **$799** | **$455** | **$586** | - Other noninterest income of $4.7 million in Q2 2025 included a gain of **$875,000 related to an early lease termination**[27](index=27&type=chunk) [Operating Expenses](index=5&type=section&id=Operating%20Expenses) Operating expenses increased due to strategic investments in expansion, new teams, and rising employee-related costs - Q2 2025 operating expenses were **$51.9 million**, an increase from $49.4 million in Q1 2025 and $43.1 million in Q2 2024[28](index=28&type=chunk) - Expense growth was driven by ongoing expansion into New York City, new Long Island teams, increased health insurance costs, and annual merit increases[28](index=28&type=chunk)[29](index=29&type=chunk) [Asset Quality / Provision for Credit Losses](index=6&type=section&id=Asset%20Quality%20%2F%20Provision%20for%20Credit%20Losses) Asset quality deteriorated with a rise in nonperforming assets, leading to an increased provision for credit losses - Nonperforming assets increased to **$115.0 million (1.60% of total assets)** at June 30, 2025, up from $97.2 million at March 31, 2025[31](index=31&type=chunk) - The provision for credit losses was **$6.6 million** for Q2 2025, driven by deterioration in economic model drivers and a **$5.8 million specific reserve** for one equipment financing relationship[32](index=32&type=chunk) Allowance for Credit Losses (ACL) to Total Loans | Date | ACL % of Total Loans | | :--- | :--- | | June 30, 2025 | 1.40% | | March 31, 2025 | 1.31% | | June 30, 2024 | 1.29% | [Capital](index=6&type=section&id=Capital) The company maintained a strong capital position while executing share repurchases and paying dividends Key Capital Ratios as of June 30, 2025 | Ratio | Company | Bank | | :--- | :--- | :--- | | Tier 1 Leverage | 8.94% | 9.99% | | Common Equity Tier 1 | 10.99% | 12.29% | - Tangible book value per share increased 4% to **$33.19** at June 30, 2025 from $31.89 at December 31, 2024[35](index=35&type=chunk) - In Q2 2025, the company repurchased **100,000 shares for $2.8 million** and declared a cash dividend of **$0.05 per share**[34](index=34&type=chunk)[36](index=36&type=chunk) [Supplementary Information](index=6&type=section&id=Supplementary%20Information) [About the Company](index=6&type=section&id=About%20the%20Company) The company is a New Jersey-based bank holding firm with significant assets and a focus on private banking - As of June 30, 2025, the company has total assets of **$7.2 billion** and assets under management and/or administration of **$12.3 billion**[37](index=37&type=chunk) [Forward-Looking Statements](index=8&type=section&id=Forward-Looking%20Statements) This section outlines risks and uncertainties that could cause actual results to differ from stated expectations - The report contains forward-looking statements subject to numerous risks and uncertainties, such as economic declines, interest rate volatility, and the ability to implement its strategic plan[39](index=39&type=chunk) - The company states it undertakes no duty to update any forward-looking statements to conform to actual results, except as required by law[40](index=40&type=chunk) [Detailed Financial Tables](index=9&type=section&id=Detailed%20Financial%20Tables) The appendix includes comprehensive unaudited financial tables covering performance, condition, and asset quality - The appendix contains detailed financial tables, including Selected Consolidated Financial Data (Income Statement), Consolidated Statements of Condition (Balance Sheet), Asset Quality data, Capital Adequacy ratios, Loans Closed, and Average Balance Sheets[42](index=42&type=chunk)[43](index=43&type=chunk)[50](index=50&type=chunk) [Non-GAAP Financial Measures Reconciliation](index=21&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) This section defines and reconciles non-GAAP metrics like tangible book value and the efficiency ratio to GAAP standards - The report provides reconciliations for non-GAAP measures to their nearest GAAP equivalents, explaining that intangible assets are excluded to calculate tangible equity and tangible assets[77](index=77&type=chunk)[78](index=78&type=chunk) - The non-GAAP efficiency ratio is calculated by dividing core operating expenses by recurring revenue (net interest income plus noninterest income, excluding certain gains/losses)[79](index=79&type=chunk)

Core Viewpoint - Plato Gold Corp. has successfully closed a loan financing agreement to support its drilling program and general corporate purposes, with a total loan amount of up to US$1,050,000 [2][3]. Group 1: Loan Financing Details - The loan consists of two parts: US$50,000 from one lender and US$1,000,000 from 1338823 Alberta Inc., which is controlled by Anthony Cohen, a director of Plato [2][3]. - The loan proceeds will be allocated to finance the drill program at the Lolita Project in Santa Cruz, Argentina, as well as for working capital and general corporate purposes [2]. - The loans are unsecured, carry an interest rate of 7% per annum, and are due on June 10, 2026, unless repaid earlier [2]. Group 2: Related Party Transaction - The loan from 1338823 Alberta Inc. is classified as a "related party transaction" under Multilateral Instrument 61-101, and the company is relying on exemptions from formal valuation and minority shareholder approval requirements [3]. - The fair market value of the loan is stated to be not more than US$2.5 million, which allows the company to bypass certain regulatory requirements [3]. Group 3: Company Overview - Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange, OTC Markets, and Frankfurt Exchange, with projects located in Timmins, Ontario, and Santa Cruz, Argentina [5]. - The company holds a 95% interest in Winnipeg Minerals S.A., which has mineral rights totaling 9,672 hectares in Argentina, with potential for gold and silver [6]. - The company also has projects focused on niobium and platinum group metals in Ontario [6][7].

Financial Results - Plato Gold Corp. reported no income for the three months ended March 31, 2025, compared to an income of $513 million for the same period in 2024 [1] - The net loss for the three months ended March 31, 2025, was $29,969, while the net loss for the same period in 2024 was $52,664 [1] - The loss per common share remained at $0.00 for both periods, with a weighted average number of common shares outstanding increasing from 228,632,750 in 2024 to 230,665,717 in 2025 [1] Company Overview - Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange, OTC Markets, and Frankfurt Exchange, with projects located in Timmins, Ontario, and Santa Cruz, Argentina [3] - The Timmins project includes four properties: Guibord, Harker, Holloway, and Marriott, focusing on gold exploration [3] - In Argentina, the company holds a 95% interest in Winnipeg Minerals S.A., which has mineral rights totaling 9,672 hectares with potential for gold and silver [4] Additional Projects - The Good Hope Niobium Project covers approximately 6,035 hectares in the Killala Lake Area and Cairngorm Lake Area Townships, targeting niobium [4] - The Pic River Platinum Group Metals (PGM) Project consists of 2,352 hectares near Marathon, Ontario, with claims contiguous to Generation Mining's Marathon PGM project [5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarter Ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-16197 PEAPACK-GLADSTONE FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. ...

Core Points - Plato Gold Corp. is advancing preparations for its first drill program at the Lolita Project in Santa Cruz, Argentina, marking a significant step in its exploration efforts [1][2] - The company has received approval from the Secretariat of Mining of Santa Cruz for an updated environmental impact assessment, allowing it to conduct a diamond drilling campaign [2] - The province of Santa Cruz is the largest producer of precious metals in Argentina, with exports valued at USD 1.789 billion in 2024 [2] Financing and Contracts - Plato has entered into loan agreements totaling US$1,050,000 to finance the drill program, with an interest rate of 7% per annum [4] - The loans are unsecured and may be convertible into common shares at a minimum price of $0.05 per share [4] - A related party transaction involves a loan of US$1,000,000 from Anthony Cohen, President of Plato, with exemptions from formal valuation and minority shareholder approval [6] Drilling Plans - Drilling is set to commence in May 2025, targeting approximately ten diamond drill holes at the Panza, Espalda, and Corazon targets, with depths of 200 to 400 meters [7] - The targets are characterized by low-sulphidation, epithermal vein systems with pathfinder anomalies of arsenic, antimony, and mercury [7] - The Lolita Project has not been previously drill-tested or explored for precious metals, but nearby projects indicate potential for significant resources [8] Company Overview - Plato Gold Corp. is a Canadian exploration company with projects in Ontario and Argentina, focusing on gold and silver exploration [11][12] - The company holds a 95% interest in Winnipeg Minerals S.A., which has mineral rights totaling 9,672 hectares in Argentina [12]

Toronto,, April 24, 2025 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF) (Frankfurt: 4Y7 or WKN: A0M2QX) (“Plato” or the “Company”) an exploration company with a portfolio of properties in Northern Ontario and Santa Cruz, Argentina is pleased to report the twelve and three months financial results for fiscal 2024 and 2023, as summarized below: Year Ended Three Months Ended (Audited) (Unaudited) December 31,December 31, December 31,December 31, 2024 2023 <td style=" ...

Core Insights - Peapack-Gladstone (PGC) reported revenue of $64.36 million for Q1 2025, a year-over-year increase of 21.3% [1] - The EPS for the same period was $0.43, down from $0.48 a year ago, indicating a decline [1] - The reported revenue exceeded the Zacks Consensus Estimate of $63.49 million by 1.37%, while the EPS fell short of the consensus estimate of $0.51 by 15.69% [1] Financial Performance Metrics - The net interest margin was reported at 2.7%, surpassing the estimated 2.5% by analysts [4] - The efficiency ratio was 76.8%, slightly higher than the estimated 76.4% [4] - Total non-interest income was $18.85 million, below the average estimate of $19.40 million [4] Stock Performance - Peapack-Gladstone shares have returned -12.6% over the past month, compared to the Zacks S&P 500 composite's -8.9% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]