In the Q2, Peapack Gladstone Financial Corporation's corporate clients experienced a decline by -10.21 % in their costs of revenue, compared to a year ago, sequentially costs of revenue grew by 7.13 %. During the corresponding time, Peapack Gladstone Financial Corporation recorded a revenue increase by 36.26 % year on year, sequentially revenue grew by 14.48 %. While revenue at the Peapack Gladstone Financial Corporation's corporate clients fell by -5.05 % year on year, sequentially revenue grew by 12.72 %.
Customers of Peapack Gladstone Financial Corporation saw their costs of revenue decline by -10.21 % in Q2 compare to a year ago, sequentially costs of revenue grew by 7.13 %, for the same period Peapack Gladstone Financial Corporation recorded revenue increase by 36.26 % year on year, sequentially revenue grew by 14.48 %.
Peapack Gladstone Financial's Comment on Sales, Marketing and Customers
Our current market is defined as the NY-NJ-PA metropolitan statistical area. Our
primary market areas are located in New Jersey and New York City, among the most
attractive banking markets in the United States, each with a total population
exceeding 8.4 million and a median household income of $72,062 for New Jersey
and $52,737 for New York City compared to the U.S. median household income of
$53,482, according to estimates from the United States Census Bureau. Somerset
County, where we are headquartered, is among one of the wealthiest in New Jersey,
with a 2010-2014 median household income of $100,903 according to estimates from
the United States Census Bureau. We believe that these markets have economic and
competitive dynamics that are consistent with our objectives and favorable to
executing our growth strategy.
Peapack Gladstone Financial’s Comment on Sales, Marketing and Customers
Our current market is defined as the NY-NJ-PA metropolitan statistical area. Our
primary market areas are located in New Jersey and New York City, among the most
attractive banking markets in the United States, each with a total population
exceeding 8.4 million and a median household income of $72,062 for New Jersey
and $52,737 for New York City compared to the U.S. median household income of
$53,482, according to estimates from the United States Census Bureau. Somerset
County, where we are headquartered, is among one of the wealthiest in New Jersey,
with a 2010-2014 median household income of $100,903 according to estimates from
the United States Census Bureau. We believe that these markets have economic and
competitive dynamics that are consistent with our objectives and favorable to
executing our growth strategy.
Sources:
Peapack gladstone Financial Corporation’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Peapack gladstone Financial Corporation’s corporate clients.
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