Luse Gorman Served as Legal Counsel to Peapack-Gladstone Financial Corporation in its $100.0 Million Subordinated Debt Issuance

December 23, 2020

On December 22, 2020, Peapack-Gladstone Financial Corporation, Bedminster, New Jersey, the holding company for Peapack-Gladstone Bank, completed a private placement of $100.0 million of its 3.50% Fixed-to-Floating Rate Subordinated Notes due 2030 (the "Notes"). The Notes are intended to qualify as Tier 2 capital for regulatory purposes.

Luse Gorman served as legal counsel to Peapack-Gladstone Financial Corporation in the offering. The Luse Gorman team consisted of Larry Spaccasi, Scott Brown, Mike Brown and Zachary Davis.

Luse Gorman has extensive experience representing issuers in public offerings and private placements of capital stock, debt, and other securities. To learn more about our Capital Markets and Corporate Finance practice, please visit our website.


ALERT – Impact of COVID-19 on Performance-Based Compensation – Key Considerations

December 21, 2020

To our clients and friends:

For many banks, the impact of COVID-19 on the financial performance has reduced or eliminated entirely the achievement of the 2020 performance-based compensation goals established before the breakout of the pandemic. As 2020 comes to an end, banks will need to evaluate the impact of COVID-19 on their performance-based compensation, specifically whether to adjust or eliminate performance goals to provide more realistic incentives for their executive officers and employees.

Our Alert, which is available here, provides an overview of key considerations for adjusting or eliminating performance goals in consideration of the effects of COVID-19.