PGC · Peapack-Gladstone Financial Corp Q2 FY2026 earnings call record财报电话会记录

“Of course, all of this hiring temporarily impacted earnings, which bottomed out in the third quarter of 2024, but we expected that.”

“Core earnings, which is pre-tax income before the provision, increased to $30.4 million, up 12% sequentially and 70% from a year ago.”

“Total revenue increased to $86.1 million, up 4% compared to the first quarter and 23% year-over-year.”

“Revenue growth outpaced expense growth 10-1, producing another strong quarter of positive operating leverage.”

“We opened and funded more than 650 new non-interest-bearing DDA accounts in the quarter, which is consistent with our average volumes over recent quarters.”

“After assessing current results and projected growth rates going forward, we felt that this was the appropriate time to add the remaining $20 million in capital to our balance sheet.”

“I would say that the strength of the pipeline is very consistent with what we've seen so far to date.”

“I will tell you that that inventory of pipeline is as robust as it's ever been.”

“The longer we sit in this, even if it's transitory, higher elevated rate environment, the more pressure we're seeing.”

“We still see some improvement in NIM, we're definitely seeing some headwinds and the timing of the loan closings ahead of the deposits could potentially elevate costs as well.”

“We expect to get north of a 1%, maybe 1.25 pickup on the repricing for the $1 billion that's going to reprice over the next six quarters.”

“I've never had a loan that actually has the capacity to pay, has more than one-to-one debt coverage, has an appraisal that shows that there's equity in it, and the borrower says, "I'm not making any payments.”