Peapack Capital funds $300M+ worth of equipment deals in 2019

Bedminster-based Peapack-Gladstone Bank announced on Monday that Peapack Capital, its equipment leasing subsidiary, funded equipment finance deals totaling $305 million for the 2019 fiscal year.

The bank said that total earning assets increased by 63% year-over-year to more than $650 million as of December 31, 2019.

“Our achievements thus far, and our commitment to serving our clients and partners, is a testament to the skill and efforts of the Peapack Capital team, who provide a best-in-class client experience. We thank all our clients and partners for entrusting their business to us,” Robert R. Cobleigh, president, Peapack Capital, said.

Peapack Capital provides equipment and asset financing from $3 million to $30 million to middle market and large corporate clients throughout the U.S.