Peapack Private Bank & Trust has appointed Michael Madonia as a Senior Managing Director in its Commercial and Industrial Lending Division. Based at the bank's New York City Park Avenue location, Madonia brings over two decades of banking expertise to the role, with a focus on client development and relationship management. His appointment represents a strategic investment in leadership talent aimed at expanding the bank's commercial footprint.
Madonia's professional background includes 22 years in the banking sector, most recently serving as a Senior Vice President Director at Amalgamated Bank, where he was responsible for building the business banking segment. Prior to that, he held the position of SVP, Business Banking Team Leader at M&T Bank in Tarrytown, NY, leading a team across Westchester and Fairfield counties. This extensive experience in business banking and team leadership is directly applicable to his new responsibilities at Peapack.
The timing of this appointment aligns with Peapack-Gladstone Financial Corporation's ongoing expansion of its banking services. The parent organization, which reported total assets of $7.0 billion and assets under management of $11.9 billion as of December 31, 2024, is known for its client-centric approach. Madonia's role is critical to executing the bank's strategic goals, specifically growing its commercial loan and deposit portfolio within the competitive New York metropolitan market. His deep understanding of local business dynamics and proven relationship management skills are expected to be key drivers in achieving these objectives.
Beyond his professional qualifications, Madonia's community involvement underscores a broader alignment with the bank's values. He serves on the Board of Directors as Executive Vice President for ArtsWestchester, demonstrating a commitment to civic engagement that often complements business development in the banking sector. 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.
The implications of this leadership addition are significant for Peapack's market strategy. In a dense financial landscape like New York, attracting seasoned executives with established networks and specialized expertise in commercial and industrial lending can provide a competitive edge. Madonia's appointment signals the bank's intent to aggressively pursue growth in this segment, leveraging his track record to enhance service offerings and client relationships. This move not only strengthens the bank's internal capabilities but also positions it to better serve the complex financial needs of businesses in the region, contributing to the overall stability and expansion of Peapack-Gladstone Financial Corporation's operations.
