Peapack Private Bank & Trust has appointed Michael Madonia as a Senior Managing Director in its Commercial and Industrial Lending Division, a strategic move to enhance the bank's leadership capabilities in business banking. Based at the bank's New York City Park Avenue location, Madonia brings twenty-two years of professional experience to this role, including previous positions as Senior Vice President Director at Amalgamated Bank and SVP, Business Banking Team Leader at M&T Bank in Tarrytown, NY. His background in building business banking segments and leading teams across Westchester and Fairfield counties positions him to contribute significantly to Peapack's expansion efforts.
The appointment aligns with Peapack-Gladstone Financial Corporation's ongoing growth strategy, as the organization reported total assets of $7.0 billion and assets under management of $11.9 billion as of December 31, 2024. Madonia's primary responsibility will be to grow the bank's commercial loan and deposit portfolio in the New York metropolitan area, leveraging his extensive relationship management skills and deep understanding of business banking. His proven track record in client development is expected to enhance the bank's market presence and support its client-centric approach to banking, which emphasizes comprehensive financial solutions.
Madonia's academic credentials include an MBA in Financial Management from Pace University's Lubin School of Business and a Bachelor of Science degree from the SUNY Geneseo Jones School of Business. Beyond his professional role, he demonstrates a commitment to community engagement through his position on the Board of Directors as Executive Vice President for ArtsWestchester, an organization detailed at https://artswestchester.org. This community involvement reflects the bank's broader values and may facilitate deeper connections within the regional business landscape.
The significance of this appointment lies in its timing and strategic focus, as Peapack seeks to capitalize on growth opportunities in a competitive market. Madonia's expertise in commercial and industrial lending is anticipated to drive tangible results in portfolio expansion and client acquisition. For more information about Peapack Private Bank & Trust's services, visit https://www.peapackprivate.com. This leadership addition underscores the bank's commitment to strengthening its commercial banking division and reinforces its position as a growing financial institution with substantial assets under management.
