COMMUNITY
SUPPORT & ESG

The Bank is committed to social responsibility, effective corporate governance, and building environmental sustainability. Our policies reflect our commitment to incorporating ESG into product and service development, delivering on the Bank's strategic goals, and improving how business decisions and policies address opportunities for sustainability. The Bank is committed to operating in an environmentally responsible manner to reduce the impact on climate change, conserve natural resources, and operate in compliance with environmental regulations.

Environmental

In 2024, our environmental efforts included:

  • Reducing the Bank's carbon footprint and impact on the environment.
  • Reducing business travel and its environmental impact by using video and audio conferencing.
  • Hosting events to raise awareness and decrease the Bank's environmental footprint — eight events were held in 2024.
  • Developing environmentally conscious digital initiatives.
  • Developing our cybersecurity infrastructure, migrating from an in-house data center to cloud computing.
  • Embracing a paperless environment and hardware recycling.
  • Utilizing filtered water at facilities.
Social

Peapack Private Bank & Trust fosters an environment of diversity and inclusion across all business lines, operating ethically and supporting clients and local communities. In 2024, our social initiatives included:

  • Created in 2019, the Cultural Ambassador Committee continues to develop and evolve our corporate culture through communication, awareness, engagement, and advocacy of the Bank's core principles, diversity and inclusion, environmental awareness, volunteerism, wellness, and employee engagement.
  • We are committed to championing diversity, equity, and inclusion in the workplace. Our strategy focuses on achieving hiring levels that are representative of the communities we serve, as well as improving diversity representation in senior roles. We have dedicated actions designed to drive a more diverse and inclusive workforce, focusing on brand awareness and sourcing, recruiting, hiring, and cultural awareness and appreciation.
  • In 2024, the Bank supported more than 335 charitable organizations, with over 445 employees contributing 1,600 hours of service through 60 different events.
  • Presented with the NJBankers Community Service Award for the 15th Year and named a “Champion of Good Works” by the CIANJ for the sixth year.
  • In 2024, our HMDA loans to majority-minority census tracts and low- and moderate-income census tracts represented approximately 48% and 25%, respectively.
  • In 2024, the Bank hosted the following Financial Literacy Workshops:
    • 17 workshops with a total of 379 participants.
    • Eight in low-income tracts.
Governance

Strong corporate governance is the foundation for delivering on our Strategic Plan and managing environmental, social, and governance initiatives. Our 2024 highlights include:

  • 93% of our Board of Directors, including the Chairman, are independent.
  • 33% of senior officers are female.
  • We were named a “Best Bank to Work For” by American Banker for seven years in a row.
  • We were named a “Best Places to Work in NYC” by Crain's NY Business.
  • We were named “Best Bank for Business Use” in NJBIZ 2024 Reader Rankings Program
  • We utilize GAAP Accounting Methods and external audit firms.
  • We have dedicated management committees focused on regulatory compliance and risk management.