The New Jersey company was reportedly shopping itself around last fall. Fresh off an agreement to buy Gold Coast Bancorp in New York, CEO Kevin Cummings says he is ready to explore other acquisitions.
Peapack-Gladstone in New Jersey has more than doubled its assets under management in the last six years, taking advantage of buyouts of its smaller rivals as it aims to become less dependent on net interest income.
The New Jersey regional will have higher capital levels after buying Oritani Financial. That was just one of the reasons why CEO Ira Robbins overcame his aversion to M&A.