Exhibit 16.1

                            [LETTERHEAD OF KPMG LLP]


November 13, 2006


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  28,  2006,  we  reported  on the
consolidated financial statements of Peapack-Gladstone Financial Corporation and
subsidiary  as  of  and  for  the  years  ended  December  31,  2005  and  2004,
management's  assessment of the effectiveness of internal control over financial
reporting as of December 31, 2005,  and the  effectiveness  of internal  control
over financial  reporting as of December 31, 2005. On November 10, 2006, we were
notified that  Peapack-Gladstone  Financial Corporation engaged Crowe Chizek and
Company LLC as its principal  accountants 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,  and the issuance of
our  report  thereon.  We have read  Peapack-Gladstone  Financial  Corporation's
statements included under Item 4.01 of its Form 8-K dated November 10, 2006, 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  Peapack-Gladstone  Financial
Corporation's  statements  that Crowe  Chizek and Company LLC was not  consulted
with  regarding  either (a) the  application  of  accounting  principles  to any
completed or contemplated  transaction,  or the type of audit opinion that might
be rendered on Peapack-Gladstone  Financial Corporation's consolidated financial
statements;  or (b) any of the other matters specified in Item  304(a)(1)(iv) of
Regulation S-K.


Very truly yours,

/s/ KPMG LLP