Peapack-Gladstone Financial Corporation (NASDAQ: PGC) (the "Company") announced today that it intends to conduct a rights offering to existing shareholders for the purchase of up to $35 million of its common stock. A record date of October 21, 2013 has been set for the planned rights offering.

 Peapack-Gladstone Financial Corporation (NASDAQ: PGC) (the "Company") announced today that it intends to conduct a rights offering to existing shareholders for the purchase of up to $35 million of its common stock. A record date of October 21, 2013 has been set for the planned rights offering. 

Upon commencement of the planned rights offering, the Company will distribute non-transferable subscription rights to purchase shares of its common stock to each eligible holder of its common stock as of the close of business on October 21, 2013. The common stock will be issued pursuant to an effective shelf registration statement (File No. 333-188009) (including base prospectus) previously filed with the Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement relating to the offering of the common stock has also been filed with the SEC. No rights will be distributed until the final terms of the rights offering, including the subscription price and the expiration date for the rights, have been set forth in a final prospectus supplement that has been filed with the SEC and distributed to shareholders of the Company's common stock as of the record date. 

In connection with the rights offering, it is anticipated that the Company will enter into standby purchase agreements with certain investors with respect to any shares of common stock that are not purchased by the Company's shareholders in the rights offering. The Company has retained Sandler O'Neill + Partners, L.P. to assist it in procuring standby purchasers.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the common stock in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering of the common stock will be made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.