Peapack-Gladstone Financial Corporation Reports Third Quarter EPS of $.18

Peapack-Gladstone Financial Corporation PGC recorded net income of $1.9 million and diluted earnings per share of $0.18, for the quarter ended September 30, 2010. This compared to diluted earnings per share of $0.10 for the quarter ended September 30, 2009 and diluted earnings per share of $0.16 for the quarter ended June 30, 2010. When compared to the quarter ended September 30, 2009, the September 2010 quarter included increased net interest income, increased income from the PGB Trust and Investment business, increased other income, increased net gains on sales of securities, and a reduced provision for loan losses, the effects of which were partially offset by a write-down of the Corporation's investment in various equity securities.