Peapack Private Bank & Trust Strengthens Commercial Real Estate Lending with Key Hire

Peapack Private Bank & Trust has strengthened its Commercial Real Estate lending platform by hiring Kenneth A. Stagnari as a Senior Managing Director. Stagnari brings more than 25 years of industry experience, most recently serving as Senior Vice President and Group Director of CRE Lending at Signature Bank in New York. During his tenure at Signature Bank, Stagnari managed an extensive portfolio of over 1,000 loans with balances exceeding $6 billion. His expertise spans multiple asset classes, including multifamily, retail, office, mixed-use, shelter housing, land development, and various financing structures.

Prior to Signature Bank, Stagnari worked at several prominent financial institutions, including People's United Bank, where he successfully stabilized a $1.5 billion CRE loan portfolio during an acquisition. His professional background also includes roles at M&T Bank, Beacon Federal Bancorp, and North Fork Bank, where he developed comprehensive skills in underwriting, credit, and risk management. Academically trained with a Bachelor of Technology in Public Safety: Criminal Investigations from the State University of New York at Canton and a Master of Public Administration from Long Island University, Stagnari is also an active member of the International Council of Shopping Centers (ICSC) and the Risk Management Association (RMA).

His appointment represents a strategic move for Peapack Private Bank & Trust, which aims to expand its CRE lending platform and reach into new markets. With total assets of $7.0 billion and assets under management of $11.9 billion as of December 31, 2024, the bank continues to demonstrate commitment to growth and client-focused banking solutions. The hiring signals Peapack's intent to compete more aggressively in the commercial real estate sector by leveraging Stagnari's deep industry connections and proven track record in managing complex, large-scale loan portfolios. This move is particularly significant given the current economic climate, where experienced leadership in credit risk management and underwriting is crucial for navigating market uncertainties.

The implications of this announcement extend beyond a single personnel change. For Peapack's clients, it means access to enhanced lending capabilities and expertise across diverse real estate asset classes. For the broader commercial real estate finance market, it represents increased competition from a well-capitalized institution seeking to capture market share. Stagnari's membership in professional organizations like the International Council of Shopping Centers and the Risk Management Association further strengthens the bank's industry networks and knowledge base. The strategic importance lies in Peapack's ability to deploy its substantial financial resources—$7.0 billion in total assets and $11.9 billion under management—more effectively in the CRE sector through experienced leadership, potentially leading to more innovative financing solutions and expanded market presence in a competitive lending environment.