Peapack Private Bank & Trust has strengthened its Commercial Real Estate (CRE) team by recruiting Nicholas LaMorte as a Senior Managing Director, signaling the bank's strategic commitment to expanding its real estate lending capabilities. LaMorte brings a robust background in real estate finance, with more than 20 years of experience in sourcing, negotiating, and underwriting loans across diverse property types.
Prior to joining Peapack, LaMorte served as Senior Vice President and Group Director at Signature Bank, where he successfully developed a substantial commercial real estate portfolio. During his tenure, he organically grew loan balances to approximately $3.8 billion, demonstrating his expertise in cultivating banking relationships and managing complex real estate financial products.
The addition of LaMorte represents a significant strategic move for Peapack Private Bank, which is actively working to enhance its market presence and increase loan production in the commercial real estate sector. With a proven track record of working with top-tier real estate investors in the New York Metropolitan area, LaMorte is well-positioned to drive the bank's expansion efforts.
LaMorte's professional background is complemented by his academic credentials, having graduated from Pace University's Lubin School of Business with a Bachelor of Administration in Finance. His expertise will be crucial in helping Peapack Private Bank develop its CRE portfolio and establish stronger footholds in new market segments.
This strategic hiring comes at a time when the commercial real estate market continues to evolve, with financial institutions seeking experienced professionals who can navigate complex lending landscapes. LaMorte's deep understanding of credit and depository needs positions Peapack Private Bank to potentially capitalize on emerging opportunities in the real estate finance sector.
As Peapack Private Bank, which has total assets of $7.0 billion and assets under management of $11.9 billion, continues to grow, LaMorte's recruitment underscores the institution's commitment to expanding its commercial banking capabilities and providing innovative financial solutions to its clients.
