BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Income and Total Assets for Reportable Segments

The following tables present the statements of income and total assets for the Company’s reportable segments for the three and six months ended June 30, 2022 and 2021.

	Three Months Ended June 30, 2022
			Peapack
(In thousands)	Banking		Private		Total
Net interest income	$	41,078	$	1,815	$	42,893
Noninterest income		4,119		14,389		18,508
Total income		45,197		16,204		61,401
Provision for credit losses		1,449		—		1,449
Compensation and benefits		15,476		6,406		21,882
Premises and equipment expense		3,835		805		4,640
FDIC expense		503		—		503
Other operating expense		3,212		2,422		5,634
Total operating expense		24,475		9,633		34,108
Income before income tax expense		20,722		6,571		27,293
Income tax expense		5,624		1,569		7,193
Net income	$	15,098	$	5,002	$	20,100

	Three Months Ended June 30, 2021
			Peapack
(In thousands)	Banking		Private		Total
Net interest income	$	32,399	$	1,446	$	33,845
Noninterest income		4,194		13,484		17,678
Total income		36,593		14,930		51,523
Provision for loan and lease losses		900		—		900
Compensation and employee benefits		14,369		5,541		19,910
Premises and equipment expense		3,519		555		4,074
FDIC insurance expense		529		—		529
Other operating expense		3,817		2,354		6,171
Total operating expense		23,134		8,450		31,584
Income before income tax expense		13,459		6,480		19,939
Income tax expense		3,721		1,800		5,521
Net income	$	9,738	$	4,680	$	14,418

	Six Months Ended June 30, 2022
			Peapack
(In thousands)	Banking		Private		Total
Net interest income	$	79,077	$	3,438	$	82,515
Noninterest income		3,690		29,532		33,222
Total income		82,767		32,970		115,737
Provision for credit losses		3,824		—		3,824
Compensation and employee benefits		31,879		12,452		44,331
Premises and equipment expense		7,766		1,521		9,287
FDIC insurance expense		974		—		974
Other operating expense		7,378		4,858		12,236
Total operating expense		51,821		18,831		70,652
Income before income tax expense		30,946		14,139		45,085
Income tax expense		7,924		3,620		11,544
Net income	$	23,022	$	10,519	$	33,541
Total assets at period end	$	6,046,082	$	105,085	$	6,151,167

	Six Months Ended June 30, 2021
			Peapack
(In thousands)	Banking		Private		Total
Net interest income	$	62,625	$	3,013	$	65,638
Noninterest income		9,334		26,164		35,498
Total income		71,959		29,177		101,136
Provision for loan and lease losses		1,125		—		1,125
Compensation and employee benefits		30,797		11,103		41,900
Premises and equipment expense		7,089		1,098		8,187
FDIC insurance expense		1,114		—		1,114
Other operating expense		6,208		4,869		11,077
Total operating expense		46,333		17,070		63,403
Income before income tax expense		25,626		12,107		37,733
Income tax expense		6,880		3,257		10,137
Net income	$	18,746	$	8,850	$	27,596
Total assets at period end	$	5,700,105	$	91,583	$	5,791,688