Peapack-Gladstone Bank, the wholly owned subsidiary of Peapack-Gladstone Financial Corporation (NASDAQ Global Select Market: PGC), announced the sale of $354.9 million of Paycheck Protection Program loans to The Loan Source, Inc. The Bank expects to realize a pre-tax gain of approximately $7.4 million in the current quarter as a result of the sale. After giving effect to the sale, Peapack-Gladstone Bank will hold approximately $203.5 million of Paycheck Protection Loans, almost all of which exceed $2.0 million in original principal amount.