Peapack Private Bank & Trust blends boutique service with robust treasury tools to drive massive metropolitan growth

Executive Summary:

• Peapack Private Bank & Trust is fueling rapid metropolitan growth by blending a boutique private-banking model with enterprise-level treasury technology.
• By implementing JHA Treasury Management™ and jhaEnterprise Workflow™, the bank delivers sophisticated, real-time tools through dedicated relationship managers.
• This has enabled nearly $1B in organic deposit growth while preserving high-touch service that differentiates it from national competitors.

“I think of it like this,” starts Terese Gardenier, SMD and Head of Treasury and Escrow Management at Peapack Private Bank & Trust. “If I’m a client, I don’t want to talk to 10 different people and have to explain my story to each one of them.”

“The ‘aha’ moment for clients happens when they realize we don’t have a 1-800 number,” continues Gardenier. “They can call us directly and we already know who they are.”

This focus on the client experience is at the heart of Peapack Private’s expansion into the highly competitive Manhattan and Long Island markets. While many businesses look for the technical sophistication of large national banks, they often feel underserved by financial institutions where they’re just one of thousands. Peapack Private realized that to win these relationships, they needed to lead with a boutique private banking model backed by enterprise-level technology.

By implementing JHA Treasury Management, Peapack Private gives sophisticated clients the high-tech tools they need while maintaining a single point of contact through a dedicated relationship manager.

redefining the boutique experience

"The boutique private banking experience combined with the Treasury Management platform really sets us apart from the mega banks of the world," shares Carlos Pacheco, SVP and Head of Deposit and Treasury Operations.

In competitive metropolitan markets, businesses expect real-time access and secure tools, but they value the certainty of direct connection. Peapack Private’s strategy combines advanced treasury capabilities with a service model where clients have direct access to decision-makers. This alignment allows internal teams to collaborate more effectively between treasury, operations, and commercial banking to deliver solutions efficiently.

"Clients can call my team directly and speak to the same person every time and really build a relationship," adds Pacheco. "It just feels comfortable for the client."

Scalable Tools for High-Volume Growth

“Service is one thing, but if you don't have the technology ... all the service we provide doesn't matter,” emphasizes Gardenier.

The bank relies on JHA Treasury Management to offer the same level of treasury sophistication as national money-center financial institutions. This technical foundation allows the bank to compete "with the big boys" while preserving the personalized touch that defines their brand. The relationship with Jack Henry is a highly collaborative one – Peapack Private’s team is constantly looking for the next digital advancement to stay ahead of the curve.

"We drive the Jack Henry team crazy because we’re constantly asking, 'What do you have? When are we doing this? When are we rolling this out?'" Gardenier shares. "Because our clients are tech-savvy and they're coming to us asking the same things."

blowing away growth projections

“We projected that the New York team was going to bring in about $400 million in deposits ... we ended the year at almost a billion dollars,” says Gardenier.

This massive organic growth highlights how embedded treasury services have become within the bank's commercial client base. The program now serves more than 1,900 commercial clients and nearly 7,000 users, completing nearly 700 implementations in 2025 alone. To support this volume, the financial institution utilizes jhaEnterprise Workflow, running over 30 workflows that have streamlined the onboarding process for operational teams.

"We would never have been successful in New York if we didn't have the technology to support the client needs," Pacheco notes.

innovation as an expectation

Peapack Private Bank & Trust views modern technology as an essential tool for client advocacy and security. 

For example, the financial institution requires all business accountholders on the treasury platform to use Positive Pay – providing the service at no cost to ensure clients can protect their accounts. By combining these robust tools with their signature high-touch service, the bank ensures it can meet the evolving needs of its most sophisticated commercial clients.

"Our clients are tech-savvy," Gardenier shares. "If you don't upgrade, you're going to lose their business".

While many financial institutions only see massive growth through acquisitions, Peapack Private’s success has been entirely organic. Pacheco believes this is a testament to the bank’s ability to execute its strategy when the right technology is in place. “700 implementations may not have happened in 2025 had we not been aligned and on the same page,” Pacheco concludes. “The [treasury management] technology is a really big piece to that."

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