Peapack Private Bank & Trust has appointed Michael Madonia as a Senior Managing Director in its Commercial and Industrial Lending Division, a strategic move to bolster its leadership and expand services in the competitive New York market. Based at the bank's New York City Park Avenue location, Madonia brings over two decades of banking expertise focused on client development and relationship management. His appointment signals the bank's intensified focus on growing its commercial loan and deposit portfolio in the metropolitan region.
Madonia's professional background includes significant roles at major financial institutions. He previously served as a Senior Vice President Director at Amalgamated Bank, where he was responsible for developing the business banking segment. Prior to that, he was the SVP, Business Banking Team Leader at M&T Bank in Tarrytown, New York, leading a team of bankers across Westchester and Fairfield counties. This experience in business banking and team leadership is directly applicable to Peapack's strategic objectives.
The hiring occurs as Peapack-Gladstone Financial Corporation, the parent organization, continues to expand its banking services. The corporation reported total assets of $7.0 billion and assets under management of $11.9 billion as of December 31, 2024. Madonia's deep understanding of the local business landscape and his proven track record in client acquisition are expected to be instrumental in capturing market share. His role will involve leveraging existing relationships and forging new ones to drive the division's growth.
Beyond his corporate experience, Madonia's community involvement includes serving on the Board of Directors as Executive Vice President for ArtsWestchester, demonstrating a commitment to local engagement that aligns with the bank's client-centric philosophy. Academically, he holds an MBA in Financial Management from Pace University's Lubin School of Business and a Bachelor of Science degree from the SUNY Geneseo Jones School of Business. This combination of professional acumen and local ties positions him to effectively navigate the New York business environment.
For Peapack Private Bank & Trust, this appointment is more than a personnel change; it is a calculated investment in its commercial banking future. Madonia's expertise in relationship management and business development is anticipated to enhance the bank's market presence significantly. By integrating his skills into the Commercial and Industrial Lending Division, the bank aims to strengthen its offerings and compete more effectively for commercial clients in one of the world's most dynamic financial hubs, supporting the broader corporate goal of sustained growth.
