BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2022 and 2021.

	Three Months Ended September 30, 2022
			Peapack
(In thousands)	Banking		Private		Total
Net interest income	$	43,327	$	2,198	$	45,525
Noninterest income		2,955		13,428		16,383
Total income		46,282		15,626		61,908
Provision for credit losses		599		—		599
Compensation and benefits		15,343		7,313		22,656
Premises and equipment expense		3,908		626		4,534
FDIC expense		510		—		510
Other operating expense		3,235		2,625		5,860
Total operating expense		23,595		10,564		34,159
Income before income tax expense		22,687		5,062		27,749
Income tax expense		6,193		1,430		7,623
Net income	$	16,494	$	3,632	$	20,126

	Three Months Ended September 30, 2021
			Peapack
(In thousands)	Banking		Private		Total
Net interest income	$	33,780	$	1,431	$	35,211
Noninterest income		3,476		14,305		17,781
Total income		37,256		15,736		52,992
Provision for loan and lease losses		1,600		—		1,600
Compensation and employee benefits		13,079		6,780		19,859
Premises and equipment expense		3,861		598		4,459
FDIC insurance expense		555		—		555
Other operating expense		4,657		2,655		7,312
Total operating expense		23,752		10,033		33,785
Income before income tax expense		13,504		5,703		19,207
Income tax expense		3,556		1,480		5,036
Net income	$	9,948	$	4,223	$	14,171

	Nine Months Ended September 30, 2022
			Peapack
(In thousands)	Banking		Private		Total
Net interest income	$	122,404	$	5,636	$	128,040
Noninterest income		6,645		42,960		49,605
Total income		129,049		48,596		177,645
Provision for credit losses		4,423		—		4,423
Compensation and employee benefits		47,222		19,765		66,987
Premises and equipment expense		11,674		2,147		13,821
FDIC insurance expense		1,484		—		1,484
Other operating expense		10,613		7,483		18,096
Total operating expense		75,416		29,395		104,811
Income before income tax expense		53,633		19,201		72,834
Income tax expense		14,117		5,050		19,167
Net income	$	39,516	$	14,151	$	53,667
Total assets at period end	$	5,999,393	$	87,868	$	6,087,261

	Nine Months Ended September 30, 2021
			Peapack
(In thousands)	Banking		Private		Total
Net interest income	$	96,405	$	4,444	$	100,849
Noninterest income		12,810		40,469		53,279
Total income		109,215		44,913		154,128
Provision for loan and lease losses		2,725		—		2,725
Compensation and employee benefits		43,876		17,883		61,759
Premises and equipment expense		10,950		1,696		12,646
FDIC insurance expense		1,669		—		1,669
Other operating expense		10,865		7,524		18,389
Total operating expense		70,085		27,103		97,188
Income before income tax expense		39,130		17,810		56,940
Income tax expense		10,436		4,737		15,173
Net income	$	28,694	$	13,073	$	41,767
Total assets at period end	$	6,144,190	$	96,095	$	6,240,285