BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2023

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 months ended March 31, 2023 and 2022.

	Three Months Ended March 31, 2023
			Peapack
(In thousands)	Banking		Private		Total
Net interest income	$	42,090	$	1,888	$	43,978
Noninterest income		3,835		14,224		18,059
Total income		45,925		16,112		62,037
Provision for credit losses		1,513		—		1,513
Compensation and employee benefits		18,169		6,417		24,586
Premises and equipment expense		3,613		761		4,374
FDIC insurance expense		711		—		711
Other operating expense		3,274		2,629		5,903
Total operating expense		27,280		9,807		37,087
Income before income tax expense		18,645		6,305		24,950
Income tax expense		4,930		1,665		6,595
Net income	$	13,715	$	4,640	$	18,355
Total assets at period end	$	6,366,729	$	113,289	$	6,480,018

	Three Months Ended March 31, 2022
				Peapack
(In thousands)	Banking			Private		Total
Net interest income	$	37,999		$	1,623	$	39,622
Noninterest income		(429	)		15,143		14,714
Total income		37,570			16,766		54,336
Provision for loan and lease losses		2,375			—		2,375
Compensation and employee benefits		16,403			6,046		22,449
Premises and equipment expense		3,931			716		4,647
FDIC insurance expense		471			—		471
Other operating expense		4,166			2,436		6,602
Total operating expense		27,346			9,198		36,544
Income before income tax expense		10,224			7,568		17,792
Income tax expense		2,300			2,051		4,351
Net income	$	7,924		$	5,517	$	13,441
Total assets at period end	$	6,155,011		$	100,653	$	6,255,664