Peapack-Gladstone Financial Corporation Announces Executive Management Changes
PGFC Reiterates Commitment to Providing Differentiated, Customized Community
Banking Services and Trust and Asset Management as the Centerpieces
of Its Overall Strategy
GLADSTONE, N.J., Dec. 19 /PRNewswire/ -- The Board of Directors of Peapack-Gladstone Financial Corporation (Amex: PGC) today announced that Frank A. Kissel was named chairman of the board in addition to his current duties as chief executive officer. Robert M. Rogers and Craig C. Spengeman were also elected to the Board of Directors. In addition, the board announced that T. Leonard Hill will serve as Chairman Emeritus and active director of the board. Further executive appointments made by the board include Robert M. Rogers as president and chief operating officer; Arthur F. Birmingham, executive vice president and chief financial officer; and Craig C. Spengeman, president and chief investment officer of PGB Trust & Investments. The appointments are effective January 1, 2002. Mr. Hill has served on the Bank's board since 1944 and as chairman since 1989. Mr. Kissel has served as president and chief executive officer since 1989 before taking the position of Chairman of the Board. Robert M. Rogers served as the Bank's chief financial officer from 1987 through 1996 before being appointed chief operating officer. Craig C. Spengeman joined PGB Trust and Investments sixteen years ago when assets were $39 million under management compared to today's more than $1 billion in assets under management. Art Birmingham, executive vice president and chief financial officer, joined Peapack-Gladstone Bank five years ago as its chief financial officer. "Art has been very instrumental in the development of our business," Mr. Kissel stated. Mr. Kissel stated: "We have a business model that clearly works and these changes will enable us to leverage the existing management team's responsibilities to better reflect and address the needs of our banking and asset management businesses. These changes in executive management recognize the importance of our two primary businesses." He continued: "This team has been responsible for many of our past successes and for our future planning. We look forward to future opportunities as we continue to grow as a leading independent institution in one of the Northeast's most affluent markets. Peapack-Gladstone will remain focused on providing differentiated, customized community banking services and trust and asset management as the centerpieces of its overall strategy for continued success and enhancement of shareholder value." Established in 1921, Peapack-Gladstone Bank has 15 branch offices located in Somerset, Hunterdon and Morris Counties. A new full service branch in Clinton, Hunterdon County is scheduled to open in January 2002. Current assets are more than $700 million and the FDIC insures deposits up to $100,000. PGB Trust & Investments is the financial services division, headquartered at 190 Main Street, Gladstone, N.J., specializing in Trust, Estate Planning and Asset Management services with over $1 billion in assets. To learn more about Peapack-Gladstone Financial Corporation and its services, please visit their web site at http://www.pgbank.com or call 908-234-0700. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X44328195
SOURCE Peapack-Gladstone Financial Corporation
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