Peapack-Gladstone Names Douglas Kennedy as CEO

Print
Email
Reprints
Comment
Twitter
LinkedIn
Facebook
Google+

Peapack-Gladstone Financial (PGC) of Bedminster, N.J., has appointed a veteran banker as chief executive.

The $1.6 billion-asset bank holding company said Thursday that Douglas Kennedy will take over as CEO on Oct. 9.

Kennedy, 56, has served for roughly eight years as head of commercial banking in the Northeast region for Capital One Financial (COF).  He also has held a series of posts with North Fork Bank, Fleet Bank and Summit Bank throughout his 35 years in the banking industry.

Kennedy succeeds Frank Kissel, who will remain Peapack-Gladstone's chairman.

"Over the past several years the company has moved in a very positive direction, with strong overall performance and growth in earnings and stock price," Kennedy said in a news release.  "I look forward to the opportunity to grow the business and take the company to the next level of community banking."

In January, Peapack-Gladstone paid the last of the $29 million it received in January 2009 from the Troubled Asset Relief Program.  The company also paid $110,000 in April to repurchase a warrant held by the Treasury Department.

Peapack-Gladstone earned $2.7 million in the second quarter of 2012, up 40% from the same period a year earlier, according to regulatory filings.

JOIN THE DISCUSSION

SEE MORE IN

No Toaster for You: Offbeat Promotions to Attract Deposits
As bankers anticipate a rise in interest rates, they're looking for ways to attract and hold on to depositors. Many institutions are simply offering cash, but others are making more creative pitches. Here's a look at some of the unconventional methods banks are using to lure deposits.

(Image: Fotolia)

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.