Peapack Private Bank & Trust Mortgage Lending & HMDA Data, 2023
In 2023, Peapack Private Bank & Trust of Bedminster, NJ reported 322 mortgage applications totaling $215.5 million, down 38% from 2022. The average application was for $669,347, and applicants reported an average income of $196,214. 81% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Newark, NJ-PA (149), New York-Newark, NY (104) and New York-Jersey City-White Plains, NY-NJ (23) (applications in parentheses).
| Mortgage Company & Address | Peapack Private Bank & Trust 500 Hills Drive Bedminster, NJ 07921 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 322 |
| Total Mortgage Loan Application Amount | $215,530,000 |
| Average Mortgage Loan Application Amount | $669,347 |
| Highest Mortgage Loan Application Amount | $13,005,000 |
| Average Applicant Income | $196,214 |
| Highest Applicant Income | $3,558,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Peapack Private Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Union, New Jersey | 67 | $ 33,675,000 | $ 502,611 | $ 120,000 |
| Somerset, New Jersey | 56 | $ 23,720,000 | $ 423,571 | $ 120,000 |
| Essex, New Jersey | 43 | $ 24,805,000 | $ 576,860 | $ 99,000 |
| Middlesex, New Jersey | 30 | $ 9,120,000 | $ 304,000 | $ 94,000 |
| Morris, New Jersey | 24 | $ 17,250,000 | $ 718,750 | $ 275,000 |
| Hunterdon, New Jersey | 14 | $ 3,840,000 | $ 274,285 | $ 119,000 |
| Ocean, New Jersey | 9 | $ 7,425,000 | $ 825,000 | $ 369,000 |
| Bergen, New Jersey | 8 | $ 16,110,000 | $ 2,013,750 | $ 177,000 |
| Monmouth, New Jersey | 8 | $ 5,410,000 | $ 676,250 | $ 141,000 |
| Hudson, New Jersey | 7 | $ 6,055,000 | $ 865,000 | $ 114,000 |
| Palm Beach, Florida | 6 | $ 7,440,000 | $ 1,240,000 | $ 1,690,000 |
| Hillsborough, Florida | 5 | $ 1,375,000 | $ 275,000 | $ 447,000 |
| Warren, New Jersey | 4 | $ 1,370,000 | $ 342,500 | $ 232,000 |
| Kings, New York | 4 | $ 7,040,000 | $ 1,760,000 | $ 712,000 |
| Pasco, Florida | 3 | $ 865,000 | $ 288,333 | $ 326,000 |
| Lehigh, Pennsylvania | 3 | $ 17,565,000 | $ 5,855,000 | $ 0 |
| Broward, Florida | 2 | $ 1,810,000 | $ 905,000 | $ 1,309,000 |
| Sarasota, Florida | 2 | $ 710,000 | $ 355,000 | $ 679,000 |
| Mercer, New Jersey | 2 | $ 1,040,000 | $ 520,000 | $ 221,000 |
| Passaic, New Jersey | 2 | $ 430,000 | $ 215,000 | $ 119,000 |
| Suffolk, New York | 2 | $ 850,000 | $ 425,000 | $ 525,000 |
| Fairfield, Connecticut | 1 | $ 255,000 | $ 255,000 | $ 250,000 |
| Litchfield, Connecticut | 1 | $ 705,000 | $ 705,000 | $ 180,000 |
| New Haven, Connecticut | 1 | $ 165,000 | $ 165,000 | $ 57,000 |
| Collier, Florida | 1 | $ 445,000 | $ 445,000 | $ 164,000 |
| Lee, Florida | 1 | $ 755,000 | $ 755,000 | $ 237,000 |
| Nassau, Florida | 1 | $ 425,000 | $ 425,000 | $ 303,000 |
| Pinellas, Florida | 1 | $ 265,000 | $ 265,000 | $ 201,000 |
| St. Johns, Florida | 1 | $ 475,000 | $ 475,000 | $ 216,000 |
| Hancock, Mississippi | 1 | $ 335,000 | $ 335,000 | $ 0 |
| Carroll, New Hampshire | 1 | $ 225,000 | $ 225,000 | $ 142,000 |
| Atlantic, New Jersey | 1 | $ 255,000 | $ 255,000 | $ 147,000 |
| Camden, New Jersey | 1 | $ 335,000 | $ 335,000 | $ 112,000 |
| Cape May, New Jersey | 1 | $ 395,000 | $ 395,000 | $ 0 |
| Sussex, New Jersey | 1 | $ 295,000 | $ 295,000 | $ 62,000 |
| Nassau, New York | 1 | $ 13,005,000 | $ 13,005,000 | $ 0 |
| Orange, New York | 1 | $ 945,000 | $ 945,000 | $ 637,000 |
| Queens, New York | 1 | $ 1,005,000 | $ 1,005,000 | $ 0 |
| Westchester, New York | 1 | $ 6,245,000 | $ 6,245,000 | $ 0 |
| Bucks, Pennsylvania | 1 | $ 95,000 | $ 95,000 | $ 29,000 |
| Delaware, Pennsylvania | 1 | $ 685,000 | $ 685,000 | $ 195,000 |
| Shelby, Tennessee | 1 | $ 315,000 | $ 315,000 | $ 231,000 |
Mortgage Loan Application Detail Totals for Peapack Private Bank & Trust in 2023
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 261 | $133,895,000 | $513,000 | $7,415,000 | $202,000 | $3,558,000 |
| Cash-out Refinancing | 24 | $8,780,000 | $365,000 | $1,005,000 | $187,000 | $401,000 |
| Refinancing | 24 | $70,560,000 | $2,940,000 | $13,005,000 | $178,000 | $457,000 |
| Home Improvement | 9 | $1,895,000 | $210,000 | $1,145,000 | $151,000 | $280,000 |
| Other Purpose | 4 | $400,000 | $100,000 | $205,000 | $85,000 | $119,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 124 | $55,910,000 | $450,000 | $4,875,000 | $252,000 | $3,558,000 |
| Hispanic | 91 | $39,955,000 | $439,000 | $895,000 | $108,000 | $752,000 |
| Asian | 37 | $13,715,000 | $370,000 | $1,425,000 | $292,000 | $2,109,000 |
| Not applicable | 31 | $91,745,000 | $2,959,000 | $13,005,000 | $0 | $0 |
| Not Provided | 20 | $6,080,000 | $304,000 | $915,000 | $197,000 | $1,867,000 |
| Black or African American | 16 | $6,850,000 | $428,000 | $545,000 | $94,000 | $117,000 |
| American Indian or Alaskan Native | 3 | $1,275,000 | $425,000 | $735,000 | $113,000 | $147,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 322 | $215,530,000 | $669,000 | $13,005,000 | $197,000 | $3,558,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 262 | $182,820,000 | $697,000 | $13,005,000 | $204,000 | $3,558,000 |
| Application Withdrawn By Applicant | 33 | $19,295,000 | $584,000 | $5,705,000 | $141,000 | $433,000 |
| Application Denied By Financial Institution | 13 | $3,675,000 | $282,000 | $645,000 | $110,000 | $255,000 |
| Application Approved But Not Accepted | 8 | $7,940,000 | $992,000 | $4,875,000 | $394,000 | $1,568,000 |
| File Closed For Incompleteness | 6 | $1,800,000 | $300,000 | $515,000 | $167,000 | $457,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 309 | $211,855,000 | $685,000 | $13,005,000 | $201,000 | $3,558,000 |
| Collateral | 4 | $730,000 | $182,000 | $295,000 | $175,000 | $255,000 |
| Debt-To-Income Ratio | 4 | $1,470,000 | $367,000 | $515,000 | $81,000 | $111,000 |
| Credit History | 3 | $865,000 | $288,000 | $645,000 | $58,000 | $66,000 |
| Other | 1 | $105,000 | $105,000 | $105,000 | $0 | $0 |
| Unverifiable Information | 1 | $505,000 | $505,000 | $505,000 | $117,000 | $117,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Peapack Private Bank & Trust's 2023 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Peapack Private Bank & Trust's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in New Jersey, download the full spreadsheet
with aggregated HMDA statistics today.
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