Exhibit 16.1






March 16, 2007


Securities and Exchange Commission
Washington, D.C. 20549


Ladies and Gentlemen:

We  are  currently  principal   accountants  for   Peapack-Gladstone   Financial
Corporation  and,  under the date of  February  27,  2007,  we  reported  on the
consolidated financial statements of Peapack-Gladstone Financial Corporation and
subsidiary  as  of  and  for  the  years  ended  December  31,  2006  and  2005,
management's  assessment of the effectiveness of internal control over financial
reporting as of December 31, 2006,  and the  effectiveness  of internal  control
over financial  reporting as of December 31, 2006. On November 10, 2006, we were
notified that  Peapack-Gladstone  Financial Corporation engaged Crowe Chizek and
Company LLC as its principal  accountant for the year ending  December 31, 2007,
subject  to the  execution  of a  definitive  engagement  letter,  and  that the
auditor-client  relationship  with KPMG LLP will  cease upon  completion  of the
audit  of  Peapack-Gladstone   Financial  Corporation's  consolidated  financial
statements  as of and  for  the  year  ended  December  31,  2006,  management's
assessment of the effectiveness of internal control over financial  reporting as
of December 31, 2006, and the  effectiveness  of internal control over financial
reporting as of December 31, 2006, and the issuance of our reports  thereon.  On
March 16,  2007,  we  completed  our audit and the  auditor-client  relationship
ceased.  We  have  read  Peapack-Gladstone  Financial  Corporation's  statements
included  under Item 4.01 of its Form 8-K/A dated March 16,  2007,  and we agree
with such statements,  except that we are not in a position to agree or disagree
with  Peapack-Gladstone  Financial  Corporation's  statement that the change was
approved by the audit  committee of the board of directors,  and we are not in a
position  to  agree  or  disagree  with  any  of   Peapack-Gladstone   Financial
Corporation's statements concerning Crowe Chizek contained in the first, fourth,
and last paragraphs of Item 4.01.

Very truly yours,

/s/ KPMG LLP