Peapack-Gladstone Financial (PGC) in Bedminster, N.J., said that it doesn’t expect any material losses tied to damage Hurricane Sandy inflicted on collateral properties.

The company reported that about $15.9 million of residential and commercial mortgage loans were tied to properties in New Jersey that the government designated as flood zones. That represents about 1.5% of Peapack-Gladstone’s outstanding loan portfolio at Sept. 30, the company said in a press release Wednesday.

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