Peapack-Gladstone Financial Corporation Declares Quarterly Cash Dividend

    GLADSTONE, N.J., Dec. 14 /PRNewswire/ -- The Board of Directors of
 Peapack-Gladstone Financial Corporation (Amex:   PGC) today announced a
 quarterly dividend of $0.15 per share.  The dividend has a record date as of
 the close of business on January 2, 2002 and is payable February 1, 2002 to
 shareholders.
     Peapack-Gladstone Financial Corporation is a bank holding company with
 total assets of $692 million as of November 30, 2001.  Peapack-Gladstone Bank,
 its wholly owned community bank that was established in 1921, has 15 branches
 in Somerset, Hunterdon and Morris Counties.  A new full service branch in
 Clinton, Hunterdon County is scheduled to open in January 2002.  Its Trust
 Division, PGB Trust and Investments, operates at the Bank's main office
 located at 190 Main Street in Gladstone.  To learn more about
 Peapack-Gladstone Financial Corporation and its services please visit our web
 site at http://www.pgbank.com or call 908-234-0700.
 
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SOURCE  Peapack-Gladstone Financial Corporation