Peapack Private Bank & Trust has been named one of the 2025 Best Banks to Work For, an honor it has now received for eight consecutive years. The recognition program, conducted by American Banker in partnership with Best Companies Group, identifies banking institutions that excel at creating positive and supportive environments for their employees. This year's program evaluated 90 banks that earned spots on the ranking based on a comprehensive assessment process.
The selection methodology involved two key components: a workplace evaluation accounting for 25% of the total score, which examined policies, practices and demographics, and an employee survey comprising 75% of the score that measured worker experiences and attitudes toward their workplace environment. Chana Schoenberger, Editor-in-Chief of American Banker, emphasized the significance of the recognition, stating that the honored banks are institutions where employees want to join and remain. She noted that these organizations understand how to provide workers with reasons to find purpose in their jobs, contributing to long-term employee satisfaction and retention.
Peapack Private Bank & Trust secured the No. 48 position on this year's list, continuing its consistent performance in workplace excellence. Doug Kennedy, President and CEO of the institution, expressed gratitude for the recognition, attributing the achievement to the hard work and dedication of the bank's employees. He emphasized that their commitment makes such distinctions possible year after year.
The full list of the 2025 Best Banks to Work For is available at http://www.americanbanker.com, providing comprehensive information about all recognized institutions. To qualify for consideration, banks must meet specific criteria including having at least 50 U.S.-based employees and maintaining operations for a minimum of one year. Best Companies Group managed the registration process, survey administration and data analysis for the program. For additional details about the Best Banks to Work For program, interested parties can visit http://www.BestBankstoWorkfor.com.
The recognition highlights the growing importance of workplace culture in the banking industry, where employee satisfaction increasingly correlates with organizational performance and client service quality. For HR vendors serving the financial sector, this trend signals a sustained demand for solutions that support employee engagement, purpose-driven work, and retention strategies. The program's heavy weighting on employee survey data—75% of the total score—demonstrates that authentic employee sentiment is becoming a primary metric for workplace quality, moving beyond mere policy evaluation. This shift validates HR technologies and consulting services focused on measuring and improving the employee experience.
Peapack's consistent performance over eight years provides a case study in building a durable, positive workplace culture. For vendors, this underscores that banking clients are seeking long-term partnerships to help maintain such standards, rather than one-off initiatives. The correlation noted between employee satisfaction and client service quality also expands the business case for HR investments, linking internal culture directly to customer outcomes and competitive advantage. As financial institutions compete for talent in a challenging labor market, recognition programs like Best Banks to Work For will likely grow in influence, making the underlying criteria a de facto benchmark for HR excellence in the industry.
