Peapack Private Bank & Trust Expands Commercial Real Estate Team with Senior Hire

Peapack Private Bank & Trust has strengthened its Commercial Real Estate team by hiring Nicholas LaMorte as a Senior Managing Director. LaMorte brings more than two decades of real estate finance expertise to the role, with a proven track record of developing substantial commercial loan portfolios. This move is significant as it directly supports the bank's strategic growth objectives in a key sector. The hiring underscores the institution's focus on deepening its capabilities in commercial real estate lending, which remains a critical component of its overall business strategy.

Prior to joining Peapack, LaMorte served as Senior Vice President and Group Director at Signature Bank, where he successfully sourced, negotiated, and underwrote loans across various property types. During his tenure, he organically developed a commercial real estate portfolio with aggregate loan balances approaching $3.8 billion. This experience is crucial for Peapack, as it aims to leverage LaMorte's proven ability to build and manage large-scale loan portfolios. His background in navigating complex real estate transactions positions him to immediately contribute to the bank's expansion efforts.

LaMorte's primary responsibilities will include cultivating the bank's presence in new markets, increasing loan production, and expanding the Commercial Real Estate portfolio. A graduate of Pace University's Lubin School of Business with a Bachelor of Administration in Finance, he brings extensive knowledge of credit and depository needs in the New York Metropolitan area. This regional expertise is vital, as the New York market is highly competitive and demands nuanced understanding of local dynamics. His role is expected to enhance Peapack's ability to serve clients with sophisticated financial needs in this region.

This strategic hiring reflects Peapack-Gladstone Financial Corporation's commitment to growth and client-focused banking services. With total assets of $7.0 billion and assets under management of $11.9 billion as of December 31, 2024, the bank continues to position itself as a comprehensive financial services provider. The addition of LaMorte is a clear indicator of the bank's intent to aggressively pursue opportunities in commercial real estate, a sector that often drives significant revenue for financial institutions. For more information on Peapack's services, visit https://www.peapackprivate.com. This development matters because it highlights how regional banks are investing in top talent to compete with larger institutions, potentially leading to more tailored lending solutions and increased market activity in commercial real estate.