Peapack Capital, the equipment leasing and financing arm of Peapack-Gladstone Financial, is celebrating its fifth anniversary since its launch this month.

Over the past five years, Peapack Capital, which was founded April of 2017, has originated more than $1.3 billion in new business and has grown its team from six employees to 16 employees. In 2021, Peapack Capital set a company record for new business originations while its leasing portfolio totaled more than $775 million at year end.

“Peapack Capital has consistently achieved its new business goals and has created a strong and diversified portfolio that has performed very well despite a challenging environment,” Greg Smith, senior executive vice president and head of commercial banking at Peapack-Gladstone Bank, said. “The equipment financing business is an important part of our commercial banking strategy. Our full suite of leasing solutions is a significant contributor to the bank’s overall results.”

Peapack Capital has earned a place on the Monitor 100 and the Bank 50 for the last several years.

“We are proud to reach this early milestone and to have built a cohesive team of talented professionals who excel at providing best-in-class service,” Smith said. “And we are thankful to our partners and clients who have trusted us to help them achieve their goals.”

Peapack Capital is headquartered in Bedminster, NJ, and provides equipment and asset financing from $5 million to $30 million to middle-market and large corporate customers across the United States.