Toronto, May 01, 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 announces preparations are advancing for the first ever drill program at the gold-silver Lolita Project, Santa Cruz, Argentina. Representatives from Plato and its subsidiary in Argentina, Winnipeg Minerals S.A., met with representatives from the Gov ...

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=" ...

Peapack-Gladstone (PGC) reported $64.36 million in revenue for the quarter ended March 2025, representing a year-over-year increase of 21.3%. EPS of $0.43 for the same period compares to $0.48 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $63.49 million, representing a surprise of +1.37%. The company delivered an EPS surprise of -15.69%, with the consensus EPS estimate being $0.51.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings - ...

Peapack-Gladstone (PGC) came out with quarterly earnings of $0.43 per share, missing the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -15.69%. A quarter ago, it was expected that this bank holding company would post earnings of $0.47 per share when it actually produced earnings of $0.52, delivering a surprise of 10.64%.Over the last four quarter ...

Financial Performance - Net income for Q1 2025 was $7.6 million, with diluted EPS of $0.43, compared to $9.2 million and $0.52 in Q4 2024[4]. - Net income for Q1 2025 was $7.6 million, a decrease from $9.2 million in Q4 2024[40]. - Net interest income rose to $45,505,000, compared to $41,908,000 in the previous quarter, reflecting a growth of 3.8%[69]. - Total recurring revenue increased to $64,164,000 from $61,287,000 in the previous quarter, marking a growth of 4.8%[69]. - Noninterest income from Capital Markets activities totaled $455,000, significantly up from $114,000 in Q4 2024[23]. - Total operating expenses increased to $49.4 million in Q1 2025, up from $47.9 million in Q4 2024 and $40.0 million in Q1 2024, driven by expansion into New York City and increased health insurance costs[26]. - Operating expenses were $49,440,000, up from $47,860,000 in the previous quarter, indicating a rise of 3.3%[69]. - The effective tax rate for Q1 2025 was 27.3%, compared to 24.5% in Q4 2024 and 30.4% in Q1 2024[27]. Loan and Deposit Growth - Total loans increased by $236 million to $5.8 billion, representing an annualized growth rate of 17%[3]. - Total loans reached $5,756,672,000, an increase of 4.27% from $5,520,920,000 as of December 31, 2024[43]. - Core relationship deposit balances increased by $177 million, contributing to total deposits of $6.3 billion, a $158 million increase from Q4 2024[3][10]. - Total deposits rose to $6,286,556,000, a 2.57% increase from $6,129,022,000 at December 31, 2024[43]. - Total loans closed for the quarter ended March 31, 2025, amounted to $438.17 million, a decrease from $527.90 million in the previous quarter[55]. Asset Management - Wealth Management AUM/AUA totaled $11.8 billion, with new business inflows of $341 million in Q1 2025[8][17]. - Assets under management at Peapack Private Bank & Trust's Wealth Management Division totaled $11.8 billion as of March 31, 2025, down slightly from $11.9 billion at December 31, 2024[43]. Credit Quality - Provision for credit losses increased to $4.47 million, a 610% rise compared to $0.63 million in Q1 2024[12]. - The provision for credit losses was $4.5 million in Q1 2025, significantly higher than $1.8 million in Q4 2024 and $615,000 in Q1 2024, due to loan growth and increased charge-offs[29]. - Nonperforming assets decreased to $97.2 million (1.36% of total assets) at March 31, 2025, down from $100.2 million (1.43% of total assets) at December 31, 2024[28]. - Nonperforming loans to total loans ratio improved to 1.69% as of March 31, 2025, compared to 1.81% at December 31, 2024[45]. - The allowance for credit losses was $75.2 million (1.31% of total loans) at March 31, 2025, compared to $73.0 million (1.32% of total loans) at December 31, 2024[30]. Capital Ratios - The Tier 1 Leverage Ratio was 10.05% for the Bank, and the Common Equity Tier 1 Ratio was 12.52% at March 31, 2025[10]. - The Tier I capital to risk-weighted assets ratio was 11.19% as of March 31, 2025, down from 11.51% on December 31, 2024[53]. - The common equity tier I capital ratio to risk-weighted assets was 11.19% as of March 31, 2025, compared to 11.51% in the previous quarter[53]. - As of March 31, 2025, the equity to total assets ratio increased to 8.73% from 8.64% in December 31, 2024[50]. Shareholder Value - Tangible book value per share increased by 2% to $32.56 at March 31, 2025, compared to $31.89 at December 31, 2024[10]. - The tangible book value per share rose to $35.08 as of March 31, 2025, compared to $34.45 on December 31, 2024[50]. - The company declared a cash dividend of $0.05 per share, payable on May 22, 2025[33]. - Shareholders' equity rose to $621,873,000 as of March 31, 2025, compared to $605,849,000 at December 31, 2024, reflecting a growth of 2.00%[43]. - Average shareholders' equity increased to $610,573,000 from $600,808,000 in the prior quarter[69]. Operational Developments - The Company opened a new branch at 300 Park Avenue in New York City, enhancing its presence in the Metro New York market[6]. - The company continues to seek efficiencies while investing in client experience enhancements amid its strategic expansion into New York City[27].

Wall Street expects a year-over-year increase in earnings on higher revenues when Peapack-Gladstone (PGC) reports results for the quarter ended March 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock m ...

Peapack-Gladstone (PGC) shares ended the last trading session 6% higher at $26.52. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.8% loss over the past four weeks.Peapack-Gladstone stock rallied, fueled by a massive jump in the broad markets. The jump was driven by President Donald Trump’s announcement of a 90-day tariff pause for the non-retaliating nations. This cheered the investors, driving the PGC stock hi ...

Financial Performance and Position - As of December 31, 2024, Peapack-Gladstone Financial Corporation's Wealth Management Division had $11.9 billion in assets under management and/or administration[37]. - The Company and the Bank were in compliance with capital requirements, including a capital conservation buffer, as of December 31, 2024[63]. - The capital conservation buffer requires a minimum CET1 to risk-weighted assets ratio of at least 7.0 percent, Tier 1 capital to risk-weighted assets ratio of at least 8.5 percent, and total capital to risk-weighted assets ratio of at least 10.5 percent[62]. - The Bank's capital ratios were all above the minimum levels required for it to be considered a "well capitalized" financial institution as of December 31, 2024[65]. - As of December 31, 2024, the company's total multifamily rent regulated exposure in New York was approximately $939 million, representing 17% of the total loan portfolio[100]. - The company's loan portfolio included loans to lessors of office buildings amounting to $95.3 million, or 1.7% of total loans, and borrowers in the retail industry totaling $210.6 million, or 3.8% of total loans[98]. - The company's commercial real estate loans represented 347% of total bank capital as of December 31, 2024, indicating a significant concentration in this area[104]. - The company maintained a debt securities portfolio of $886.2 million as of December 31, 2024, with $784.5 million classified as available-for-sale[111]. - The company's stockholders' equity may be adversely affected by unrealized net losses on securities available-for-sale due to changes in interest rates[110]. Economic and Market Conditions - A deterioration in economic conditions could lead to an increase in loan delinquencies and non-performing assets, adversely affecting the company's financial condition[95]. - The company is sensitive to adverse changes in the local economy, particularly in Central and Northern New Jersey, Pennsylvania, and New York City, which could impact its ability to attract deposits[93]. - Inflation and rising costs of goods and services could negatively impact the company's operational expenses and its customers' ability to repay loans[95]. - The company faces regulatory scrutiny regarding its commercial real estate loan portfolio, which may require additional policies and procedures that could affect profitability[105]. Regulatory Compliance and Risks - The Company is subject to FRB policies that may limit its ability to pay dividends if the subsidiary bank becomes undercapitalized[80]. - The ability of the Company to pay dividends to its shareholders depends on whether the Bank pays dividends to it, subject to restrictions under the New Jersey Banking Act[84]. - The Sarbanes-Oxley Act of 2002 requires enhanced and timely disclosure of corporate information, and the Company has existing policies to comply with this act[86]. - The company is subject to various federal laws that require it to maintain comprehensive programs related to anti-money laundering and customer identification[118]. - The company is subject to regulatory compliance burdens and costs due to the Dodd-Frank Act, which may restrict certain products and services[115]. Interest Rate Sensitivity - The Federal Reserve Board reduced benchmark interest rates by 50 basis points in September and an additional 25 basis points in November 2024, impacting the company's interest income[94]. - Changes in interest rates could adversely affect the company's net interest income, which is primarily derived from the difference between interest income earned and interest expense incurred[107]. - A reduction in interest rates may lead to increased prepayments of loans and mortgage-backed securities, creating reinvestment risk for the company[109]. - The Company faces substantial competition in originating loans and attracting deposits from other financial institutions, which may adversely affect profitability[133]. - The Company's interest rate sensitivity models indicate it is asset sensitive as of December 31, 2024, with net interest income expected to improve in a rising rate environment[315]. - In an immediate and sustained 100 basis point increase in market rates, net interest income would decrease approximately 0.5 percent for year 1 and increase 1.6 percent for year 2 compared to a flat interest rate scenario[313]. Employee Engagement and Community Involvement - The company had 620 full-time and part-time employees as of December 31, 2024, with a focus on talent development and employee engagement[19][24]. - The company performed over 1,600 hours of community service and provided financial support to more than 330 charitable organizations in 2024[35]. - The company emphasizes a relationship-based approach while diversifying its business model to remain competitive in the banking sector[47]. - The company has a strong commitment to diversity, equity, and inclusion, with initiatives to improve representation in senior roles and maintain hiring levels reflective of the communities served[26]. - The company offers a comprehensive suite of health insurance benefits, paid time off, and a 401(k) plan with a generous company match to attract and retain talent[33]. Strategic Initiatives - The company initiated the "Refining Our Strategy" phase in 2022 to address industry headwinds, including margin pressure and increased compliance costs[46]. - The company aims to expand its footprint in the metropolitan New York region by hiring experienced professionals in various sectors, focusing on generating core deposits[47]. - The company is focused on providing high-touch client service through its wealth management and commercial banking divisions, differentiating itself from larger competitors[52]. Credit and Liquidity Risks - The company maintains allowances for credit losses, which may need to be increased due to continuing economic deterioration, potentially reducing net income and capital[101]. - The company's exposure to credit risk is heightened due to its focus on small- and medium-sized businesses, which are less able to withstand economic pressures[97]. - The company faces risks related to liquidity, as a decrease in client deposits could lead to higher funding costs and reduced net interest income[128]. - The company is exposed to environmental liability risks associated with its lending activities, which could materially affect its financial condition[106]. Wealth Management and Revenue Sources - The wealth management business derives the majority of its revenue from non-interest income, which is sensitive to fluctuations in assets under management[144]. - The wealth management industry is subject to extensive regulation, and non-compliance could lead to penalties that adversely affect operating results[146].

Earnings Performance - Peapack-Gladstone reported quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.47 per share, representing a 10.64% earnings surprise [1] - The company's earnings per share increased from $0.50 in the same quarter last year [1] - Over the last four quarters, the company has surpassed consensus EPS estimates two times [2] Revenue Performance - Peapack-Gladstone posted revenues of $61.84 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.72% [2] - This represents an increase from year-ago revenues of $54.27 million [2] - The company has topped consensus revenue estimates once over the last four quarters [2] Stock Performance - Peapack-Gladstone shares have added about 3.2% since the beginning of the year, outperforming the S&P 500's gain of 2.2% [3] - The stock's immediate price movement will depend on management's commentary on the earnings call [3] Future Outlook - The current consensus EPS estimate is $0.54 on $62.6 million in revenues for the coming quarter [7] - For the current fiscal year, the consensus EPS estimate is $2.73 on $265 million in revenues [7] - The estimate revisions trend for Peapack-Gladstone is mixed, translating into a Zacks Rank 3 (Hold) [6] Industry Context - Peapack-Gladstone belongs to the Zacks Banks - Northeast industry, which is currently in the top 9% of the 250 plus Zacks industries [8] - The top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8] Peer Comparison - LCNB, another company in the same industry, is expected to post quarterly earnings of $0.30 per share, representing a year-over-year change of -11.8% [9] - LCNB's revenues are expected to be $20.9 million, up 8.5% from the year-ago quarter [9]

Financial Performance - Net income for Q4 2024 was $9.2 million, with diluted EPS of $0.52, compared to $7.6 million and $0.43 in Q3 2024[4] - Total revenue for the three months ended December 31, 2024, reached $61,836,000, up from $54,265,000 in the prior year, marking an increase of 14%[44] - Net income for the three months ended December 31, 2024, was $9,240,000, compared to $8,599,000 in the same quarter of 2023, indicating a growth of 7.4%[44] - For the twelve months ended December 31, 2024, net income decreased to $32,988,000 from $48,854,000 in 2023, a decline of 32%[47] - Earnings per share (basic) for the twelve months ended December 31, 2024, was $1.87, a decrease of 32% from $2.74 in 2023[47] Deposits and Loans - Core relationship deposits grew by $438 million to $5.3 billion, representing an annualized growth rate of 36%[3] - Total deposits increased by $855 million to $6.1 billion, with a net growth of $1.2 billion excluding high-cost deposits that rolled off[9] - Total loans increased by $85 million to $5.5 billion, with commercial and industrial lending representing 43% of the total loan portfolio[9] - Noninterest-bearing demand deposits increased by $155 million to $1.1 billion, representing 18% of total deposits[9] - Total loans reached $5,520,920 thousand, an increase of 3.8% from $5,320,167 thousand in the prior quarter[50] Interest Income and Margin - Net interest income increased by $4.2 million, or 11%, to $41.9 million in Q4 2024, driven by growth in average interest-earning assets[5] - The net interest margin improved to 2.46% in Q4 2024, up from 2.34% in Q3 2024[5] - The Company's Net Interest Income (NII) for Q4 2024 was $41.9 million, an increase of $4.2 million from Q3 2024, and a $5.2 million increase compared to Q4 2023, with a Net Interest Margin (NIM) of 2.46%[21] - Interest income for the three months ended December 31, 2024, was $86,166,000, an increase from $80,178,000 in the same period last year, representing a growth of 7.4%[44] - The net interest margin for the three months ended December 31, 2024, improved to 2.46%, compared to 2.29% for the same period in 2023[66] Operating Expenses - Total operating expenses increased to $47.9 million in Q4 2024, up from $44.6 million in Q3 2024 and $37.6 million in Q4 2023, primarily due to expansion into New York City[27][28] - Total operating expenses for the twelve months ended December 31, 2024, increased to $175,676,000, up 18% from $148,295,000 in 2023[47] - The efficiency ratio improved to 78.09% for the three months ended December 31, 2024, compared to 79.60% in the previous quarter[83] Credit Quality - Nonperforming assets rose to $100.2 million, or 1.43% of total assets, at December 31, 2024, compared to $80.5 million, or 1.18% of total assets, at September 30, 2024[30] - The provision for credit losses was $1.8 million in Q4 2024, compared to $1.2 million in Q3 2024 and $5.1 million in Q4 2023, driven by loan growth and specific reserves for nonperforming loans[31] - The allowance for credit losses was $73.0 million, or 1.32% of total loans, at December 31, 2024, compared to $71.3 million, or 1.34% of total loans, at September 30, 2024[32] - Nonperforming loans to total loans ratio rose to 1.81% from 1.51% in the previous quarter, indicating a decline in asset quality[53] Assets and Equity - Total assets increased to $7,011,238 thousand as of December 31, 2024, up from $6,793,792 thousand in the previous quarter, representing a growth of 3.2%[50] - Shareholders' equity as of December 31, 2024, was $605,849,000, a slight decrease from $607,614,000 in the previous quarter[80] - Tangible book value per share increased by 5% to $31.89 at December 31, 2024, from $30.31 at December 31, 2023[34] Rebranding and Strategic Changes - The Company re-branded to Peapack Private Bank & Trust effective January 1, 2025, reflecting its commitment to personal and commercial banking[6]