PGC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-07

• an unexpected decline in the economy, in particular in our New Jersey and New York market areas, including potential recessionary conditions;

• the impact of any federal government shutdown, debt ceiling impasses or fiscal uncertainty;

• the failure to maintain current technologies and/or to successfully implement future information technology enhancements and the operational risks associated with the adoption of artificial intelligence and other emerging technologies;

• risks associated with cybersecurity threats, data breaches, ransomware attacks, or other failures in our operational or security systems and infrastructure, including the risks arising from our dependence on third-party service providers and vendors;

• changes in New York City rent regulation and real estate tax laws;

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• our ability to successfully integrate wealth management firm and team acquisitions;

• an unexpected decline in the economy, in particular in our New Jersey and New York market areas, including potential recessionary conditions, which could affect the demand for loans and deposits or have an adverse effect on the ability of consumers and businesses to pay debts;

• the failure to maintain current technologies and/or to successfully implement future information technology enhancements;

• successful cyberattacks against our IT infrastructure and that of our IT and third-party providers;

• Residential mortgage, commercial real estate, multifamily, C&I, and SBA loan originations increased by $4.8 million, $91.3 million, $25.0 million, $17.0 million, and $5.5 million, respectively, for the three months ended March 31, 2026 as compared to the same period in 2025. Loan growth has been fue…

Text added vs the prior filing · source: 10-Q · 2026-08-07

• The interest rate swap program is administered by ALCO and follows procedures and documentation in accordance with regulatory guidance and standards as set forth in ASC 815 for cash flow hedges. The program incorporates pre-purchase analysis, liability

• designation, sensitivity analysis, correlation analysis, daily mark-to-market analysis and collateral posting as required. In these swaps, the Company is receiving floating and paying fixed interest rates with a total notional value of $280.0 million as of June 30, 2026.

• In addition, the Company maintains a loan level/back-to-back swap program in support of its commercial lending business. Pursuant to this program, the Company extends a floating rate loan and executes a floating to fixed swap with the borrower. At the same time, the Company executes a third-party sw…

• As noted above, ALCO uses simulation modeling to analyze the Company’s net interest income sensitivity, as well as the Company’s economic value of portfolio equity under various interest rate scenarios. The models are based on the actual maturity and repricing characteristics of rate sensitive asset…

• The table below shows the estimated changes in the Company’s economic value of equity (“EVE”) and net interest income that would result from an immediate parallel change in the market interest rates at June 30, 2026.

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• The interest rate swap program is administered by ALCO and follows procedures and documentation in accordance with regulatory guidance and standards as set forth in ASC 815 for cash flow hedges. The program incorporates pre-purchase analysis, liability designation, sensitivity analysis, correlation …

• In addition, the Company maintains a loan level/back-to-back swap program in support of its commercial lending business. Pursuant to this program, the Company extends a floating rate loan and executed a floating to fixed swap with the borrower. At the same time, the Company executes a third-party sw…

• As noted above, ALCO uses simulation modeling to analyze the Company’s net interest income sensitivity, as well as the Company’s economic value of portfolio equity under various interest rate scenarios. The models are based on the actual maturity and repricing characteristics of rate sensitive asset…

• In an immediate and sustained 100 basis point increase in market rates at March 31, 2026, net interest income would decrease by 0.9 percent in year 1 and increase by 2.8 percent in year 2, compared to a flat interest rate scenario. In an immediate and sustained 100 basis point decrease in market rat…

• In an immediate and sustained 200 basis point increase in market rates at March 31, 2026, net interest income would decrease approximately 1.9 percent in year 1 and increase by 5.6 percent in year 2, compared to a flat interest rate scenario. In an immediate and sustained 200 basis point decrease in…