Other IncomeFor the first quarter of 2010, other income totaled $1.1 million compared to the same amount for the December 2009 quarter and compared to $983 thousand for the first quarter of 2009. Fee income earned on the sale of mortgage loans at origination increased $84 thousand to $177 thousand in the first quarter of 2010 from $93 thousand in the same 2009 period. The increase for 2010 resulted from greater longer-term, fixed-rate mortgage originations, which are sold, as well as a greater targeted sale price for such originations.
Peapack-Gladstone Financial Corporation Reports First Quarter Results Of Operations
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