A.
|
Full title of the plan and
address of the plan, if different from that of the issuer named
below:
|
B.
|
Name of issuer of the securities
held pursuant to the plan and the address of its principal executive
office:
|
Report
of Independent Registered Public Accounting Firm
|
3
|
Financial
Statements:
|
|
Statements
of Net Assets Available for Benefits as of December 31, 2008 and
2007
|
5
|
Statement
of Changes in Net Assets Available for Benefits for the Year Ended
December 31, 2008
|
6
|
Notes
to Financial Statements
|
7
|
Supplemental
Schedule:
|
|
Form 5500,
Schedule H, Part IV, Line 4i-Schedule of Assets (Held at
End of Year) as of December 31, 2008
|
14
|
Signature
Page
|
16
|
Exhibit Index
|
17
|
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
|
1
|
|
FINANCIAL
STATEMENTS
|
||
STATEMENTS
OF NET ASSETS AVAILABLE FOR BENEFITS –
|
||
DECEMBER
31, 2008 AND 2007
|
2
|
|
STATEMENT
OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS –
|
||
YEAR
ENDED DECEMBER 31, 2008
|
3
|
|
NOTES
TO FINANCIAL STATEMENTS
|
4
|
|
SUPPLEMENTAL
SCHEDULE
|
||
SCHEDULE
H, LINE 4(i) – SCHEDULE OF ASSETS (HELD AT END OF YEAR)
|
14
|
2008
|
2007
|
|||||||
ASSETS
|
||||||||
Investments
at fair value: (Note 4)
|
||||||||
Cash
|
$ | 72 | $ | 538 | ||||
Mutual
funds
|
6,300,979 | 6,124,777 | ||||||
Investment
contract with insurance company
|
2,050,721 | 489,011 | ||||||
Participant
loans
|
175,269 | 113,850 | ||||||
Peapack-Gladstone
Financial Corporation
|
||||||||
common
stock
|
3,281,598 | 3,299,576 | ||||||
Total
investments, at fair value
|
11,808,639 | 10,027,752 | ||||||
Receivables
– employer contribution receivable
|
975,746 | 50,856 | ||||||
NET
ASSETS AVAILABLE FOR BENEFITS
|
$ | 12,784,385 | $ | 10,078,608 | ||||
Additions
to net assets attributed to:
|
||||
Contributions
|
||||
Participant
contributions
|
$ | 1,022,967 | ||
Employer
contributions
|
1,289,944 | |||
Employee
rollovers (Note 1)
|
3,367,379 | |||
5,680,290 | ||||
Dividend
Income
|
254,379 | |||
Interest
Income
|
100,289 | |||
Net
depreciation in
|
||||
fair
value of investments (Note 4)
|
(2,684,208 | ) | ||
Total
additions
|
3,350,750 | |||
Deductions
from net assets attributable to:
|
||||
Miscellaneous
fees
|
2,298 | |||
Benefits
paid to participants
|
642,675 | |||
Total
deductions
|
644,973 | |||
Net
increase in net assets available for benefits
|
2,705,777 | |||
Net
assets available for benefits
|
||||
Beginning
of year
|
10,078,608 | |||
End
of year
|
$ | 12,784,385 |
Fair
Value Measurements
|
||||||||||||
at December 31, 2008 Using
|
||||||||||||
Quoted
Prices in
|
Significant
|
|||||||||||
Active
Markets
|
Other
|
Significant
|
||||||||||
for
Identical
|
Observable
|
Unobservable
|
||||||||||
Assets
|
Inputs
|
Inputs
|
||||||||||
(Level 1)
|
(Level 2)
|
(Level 3)
|
||||||||||
Investments
(other than participant loans):
|
||||||||||||
Peapack-Gladstone
Financial Corporation
|
||||||||||||
Common
stock
|
$ | 3,281,598 | $ | - | $ | - | ||||||
Mutual
Funds
|
6,300,979 | - | - | |||||||||
Investment
Contract with Insurance Company
|
- | - | 2,050,721 |
Fair Value Measurements Using Significant | ||||
Unobservable Inputs (Level
3)
|
||||
Investment
Contracts
|
||||
Beginning
balance, January 1, 2008
|
$ | 489,011 | ||
Total
realized and unrealized gains or losses
|
||||
included
in change in net assets available
|
||||
for
benefits:
|
||||
Interest
income
|
33,434 | |||
Net
realized and unrealized appreciation
|
||||
(depreciation)
|
- | |||
Purchases,
sales, issuances and settlements (net)
|
1,710,447 | |||
Transfers
in and/or out of Level 3
|
(182,171 | ) | ||
Ending
balance, December 31, 2008
|
$ | 2,050,721 |
2008
|
2007
|
|||||||
Mutual
Funds:
|
||||||||
Alger
Mid-Cap Growth Institutional
|
$ | 421,430 | * | $ | 524,070 | |||
American
Funds Europacific Fund
|
737,848 | 811,805 | ||||||
American
Funds Growth Fund of America
|
1,223,958 | 987,383 | ||||||
Davis
New York Venture Class – A
|
495,085 | * | 889,227 | |||||
Pimco
Total Return Fund
|
1,167,740 | 613,021 | ||||||
Van
Kampen Comstock
|
767,085 | 606,182 | ||||||
Van
Kampen Equity & Income
|
519,061 | * | 585,661 | |||||
Guaranteed
Income Fund
|
2,050,721 | 489,011 | * | |||||
Peapack-Gladstone
Financial Corporation
|
||||||||
(the
plan sponsor) Common Stock
|
3,281,598 | 3,299,576 |
Year
ended
|
||||
December 31,
2008
|
||||
Mutual
Funds
|
$ | (2,414,968 | ) | |
Peapack-Gladstone
Financial Corporation Common Stock
|
(269,240 | ) | ||
$ | (2,684,208 | ) | ||
2008
|
2007
|
|||||||
Average
yields:
|
||||||||
Based
on annualized earnings (1)
|
3.35 | % | 3.55 | % | ||||
Based
on interest rate credited to participants (2)
|
3.35 | 3.55 |
(1)
|
Computed
by dividing the annualized one-day actual earnings of the contract on the
last day of the Plan year by the fair value of the contract investments on
the same date.
|
(2)
|
Computed
by dividing the annualized one-day earnings credited to participants on
the last day of the Plan year by the fair value of the contract
investments on the same date.
|
(c)
|
||||||||||||
Description
of Investment,
|
||||||||||||
(b)
|
Including
Maturity Date,
|
(e)
|
||||||||||
Identity
of Issuer, Borrower,
|
Rate
of Interest,
|
(d)
|
Current
|
|||||||||
(a)
|
Lessor, or Similar
Party
|
Par, or Maturity
Value
|
Cost
|
Value
|
||||||||
*
|
Peapack-Gladstone
Financial
|
|||||||||||
Corporation
|
Common
stock
|
# | $ | 3,281,598 | ||||||||
123,183.1257
shares
|
||||||||||||
Cash-interest
bearing
|
# | 72 | ||||||||||
Mutual
funds
|
||||||||||||
Alger
|
Alger
Mid-Cap Growth Institutional
|
|||||||||||
53,481.0190
shares
|
# | 421,430 | ||||||||||
American
Funds
|
American
Funds Europacific Fund
|
|||||||||||
26,772.3983
shares
|
# | 737,848 | ||||||||||
American
Funds
|
American
Funds Growth Fund
|
|||||||||||
of
America
|
||||||||||||
60,592.0056
shares
|
# | 1,223,958 | ||||||||||
Davis
|
Davis
Opportunity Fund Class - A
|
|||||||||||
1,130.6380
shares
|
# | 15,739 | ||||||||||
Davis
|
Davis
New York Venture Class - A
|
|||||||||||
20,960.4231
shares
|
# | 495,085 | ||||||||||
Dryden
|
Dryden
Stock Index Fund Class - Z
|
|||||||||||
458.8161
shares
|
# | 9,071 | ||||||||||
Goldman
Sachs
|
Goldman
Sachs High Yield
|
|||||||||||
41,167.5468
shares
|
# | 207,896 | ||||||||||
Goldman
Sachs
|
Goldman
Sachs Mid-Cap Value
|
|||||||||||
2,342.2899
shares
|
# | 51,671 | ||||||||||
Goldman
Sachs
|
Goldman
Sachs Small-Cap Value
|
|||||||||||
14,810.1935
shares
|
# | 366,700 | ||||||||||
Legg
Mason
|
Legg
Mason Small Cap Growth
|
|||||||||||
13,125.2104
shares
|
# | 126,527 | ||||||||||
Oppenheimer
|
Oppenheimer
Small & Mid-Cap Value
|
|||||||||||
10,400.8457
shares
|
# | 191,168 | ||||||||||
Pacific
Investment Management Co.
|
Pimco
Total Return Fund
|
|||||||||||
115,161.7193
shares
|
# | 1,167,740 |
(c)
|
||||||||||||||
Description
of Investment,
|
||||||||||||||
(b)
|
Including
Maturity Date,
|
(e)
|
||||||||||||
Identity
of Issuer, Borrower,
|
Rate
of Interest,
|
(d)
|
Current
|
|||||||||||
(a)
|
Lessor, or Similar
Party
|
Par, or Maturity
Value
|
Cost
|
Value
|
||||||||||
Mutual funds
(continued)
|
||||||||||||||
Van
Kampen
|
Van
Kampen Comstock
|
|||||||||||||
70,699.1020
shares
|
# | $ | 767,085 | |||||||||||
Van
Kampen
|
Van
Kampen Equity & Income
|
|||||||||||||
80,101.9528
shares
|
# | 519,061 | ||||||||||||
6,300,979 | ||||||||||||||
|
Investment
contract
|
|||||||||||||
*
|
Prudential
Insurance Co. of America
|
Guaranteed
Income Fund
|
||||||||||||
Agreement
No: GA-39867
|
||||||||||||||
3.45% | # | 2,050,721 | ||||||||||||
Participant
loans
|
||||||||||||||
*
|
Participant
Loan Fund
|
5.00%
to 9.25%
|
# | 175,269 | ||||||||||
Total
|
$ | 11,808,639 |
*
|
A
party-in-interest, as defined by
ERISA.
|
#
|
Investments
are participant directed and therefore cost information is not
presented.
|
Peapack
Gladstone Bank Employee Savings and Investment Plan
|
|||
Dated:
|
June
30, 2009
|
||
By:
|
|||
/s/
Craig C. Spengeman
|
Exhibit Number
|
Document
|
|
Exhibit 23.1
|
CONSENT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
|
|