Peapack Capital, a subsidiary of Peapack-Gladstone Bank, funded equipment finance transactions totaling $152 million for commercial and corporate clients in 2017, its first year of operations.

Headquartered in Bedminster, NJ, Peapack Capital was founded in April 2017 and is led by Robert Cobleigh as president. The new business unit has grown its team to nine employees as of December 31, 2017.

“It’s rewarding to build a first-class equipment finance and leasing platform for Peapack-Gladstone Bank, and we are very thankful for the support of the bank,” Cobleigh said. “Our team is dedicated and experienced, and we look forward to building on our early success and contributing to realizing the Bank’s goals.  We are also very thankful to the companies that have trusted us to help achieve their objectives.”

Peapack Capital provides equipment financing from $5 million to $30 million to middle market and large corporate clients across the U.S.