Peapack Private Bank & Trust has secured its position among the nation's top financial institutions for workplace excellence, earning recognition as one of the 2025 Best Banks to Work For. This marks the eighth consecutive year the bank has received this prestigious honor, demonstrating sustained commitment to creating a positive and supportive environment for its employees.
The recognition program, conducted by American Banker in partnership with Best Companies Group, identifies banking institutions that excel at fostering workplace environments where employees can thrive. This year's ranking included 90 banks that met the rigorous criteria for workplace excellence. The comprehensive evaluation process involves two critical components: workplace policies, practices, and demographics accounting for 25% of the total score, and employee experiences and attitudes toward the workplace comprising the remaining 75%.
Doug Kennedy, President and CEO of Peapack Private Bank & Trust, emphasized the significance of this achievement, stating, "This is the 8th year in a row that we have been recognized with this honor. It's the hard work and dedication that they put in that makes it possible to achieve this distinction, and I am truly grateful." The bank ranked No. 48 on this year's list, placing it among the top financial institutions recognized for their workplace cultures.
Chana Schoenberger, Editor-in-Chief of American Banker, explained the importance of these recognitions, noting that "The banks recognized as Best Banks to Work For are institutions employees want to join and stay with. They understand how to give workers reasons to find purpose in their jobs." This insight underscores the broader industry significance of workplace culture in employee retention and satisfaction.
The selection process requires participating banks to meet specific eligibility criteria, including having at least 50 U.S.-based employees and being in business for a minimum of one year. Best Companies Group managed the registration, survey administration, and data analysis for the program. The complete list of 2025 Best Banks to Work For is available at http://www.americanbanker.com.
For the banking industry, this recognition carries substantial implications beyond mere workplace satisfaction. Institutions that consistently earn Best Banks to Work For designations often demonstrate stronger financial performance, lower employee turnover rates, and enhanced customer service quality. The correlation between positive workplace environments and business success has become increasingly evident in the financial services sector, where employee engagement directly impacts client relationships and service delivery.
The program's methodology, which heavily weights employee feedback through anonymous surveys, provides valuable insights into what constitutes an exceptional workplace in the banking industry. This data-driven approach helps establish industry benchmarks for workplace excellence and informs best practices that other institutions can emulate. Additional information about the Best Banks to Work For program can be found at http://www.BestBankstoWorkfor.com.
For consumers and banking clients, this recognition signals more than just workplace satisfaction—it indicates an institution likely to provide consistent, high-quality service. Banks with engaged, satisfied employees typically demonstrate better customer service, more innovative solutions, and greater stability. The repeated recognition of Peapack Private Bank & Trust suggests a deeply embedded culture of excellence that benefits both employees and clients alike, contributing to the institution's reputation as a reliable financial partner in the competitive banking landscape.
