Peapack-Gladstone Financial Corp. in New Jersey announced after the market closed Tuesday that it will likely take an other-than-temporary impairment charge for the fourth quarter on its portfolio of trust-preferred pooled securities.

The charge could be as large as $54.4 million, the $1.4 billion-asset Peapack-Gladstone said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.