Peapack-Gladstone Bank’s responsibility to clients, employees, shareholders, and the communities in which it operates, goes beyond profitability, and includes promoting responsible and sustainable Environmental, Social and Governance (ESG) business practices.

We have embedded ESG into our operations consistent with our five Core Principles:

Professionalism | Clients First | Compete to Win | Invested in Our Community | One Team

Environmental

The Bank is committed to operating in an environmentally responsible manner to reduce the impact on climate change, conserve natural resources and operate in compliance with environmental regulations. Our initiatives include:

  • Reducing the Bank’s carbon footprint
  • Reducing business travel through video and audio conferencing
  • Developing environmentally conscious digital and cybersecurity programs, including migrating from an in-house data center to cloud computing
  • Migrating to a paperless environment, reducing plastic waste, and recycling hardware
  • Raising awareness through an employee-driven Environmental Leadership Committee

Social

The Bank is committed to being a socially responsible employer by fostering an environment of diversity and inclusion, operating ethically, and supporting clients and our local communities. Our strategy focuses on:

  • Achieving hiring levels that are representative of the communities we serve
  • Improving diversity representation in senior level roles
  • Expanding upon brand awareness and sourcing, recruiting and hiring, and cultural awareness and appreciation
  • Corporate philanthropy and volunteerism
  • Continuing to offer affordable housing programs
    • Home Mortgage Disclosure Act (HMDA) loans to low- and moderate-income borrowers inside the Bank’s assessment area in 2021 and 2022 represented approximately 20% and 35%, respectively of total residential loans originated
    • HMDA loans to majority-minority census tracts and low- and moderate-income census tracts in 2022 represented approximately 46% and 34% respectively
  • Continuing to offer financial literacy workshops
    • 27 workshops conducted in 2022
    • 515 participants taught in 2022
    • 15 in low-income tracts
    • 4 in moderate-income tracts

Governance

The Bank is committed to building a culture dedicated to ethical business behavior and responsible corporate activity. Strong corporate governance is the foundation to delivering on the Bank’s overall strategic plan.

93%
of the Board of Directors, including the Chairman, are independent.
3
members of our Board of Directors are female
34%
of senior officers are female
The Bank has been named a “Best Bank to Work For” by American Banker for 5 consecutive years
We have dedicated regulatory compliance and risk management executive level committees
We utilize GAAP accounting methods and external audit firms