CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (Tables)

12 Months Ended

Dec. 31, 2015

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) [Abstract]

Schedule of Condensed Statements of Condition

	December 31,
(In thousands)	2015			2014
Assets
Cash	$	1,489		$	9,311
Interest-earning deposits		515			516
Total cash and cash equivalents		2,004			9,827
Securities available for sale		—			—
Investment in subsidiary		273,580			232,461
Other assets		414			220
Total assets	$	275,998		$	242,508
Liabilities
Other liabilities	$	322		$	241
Total liabilities		322			241
Shareholders' equity
Common stock		13,717			12,954
Surplus		213,203			195,829
Treasury stock		(8,988	)		(8,988	)
Retained earnings		58,123			41,251
Accumulated other comprehensive (loss)/income,
net of income tax benefit		(379	)		1,221
Total shareholders' equity		275,676			242,267
Total liabilities and shareholders' equity	$	275,998		$	242,508

Schedule of Condensed Statments of Income

	Years Ended December 31,
(In thousands)	2015			2014			2013
Income
Dividend from Bank	$	—		$	—		$	1,350
Other income		1			1			9
Securities gains, net		—			—			2
Total income		1			1			1,361
Expenses
Other expenses		525			637			429
Total expenses		525			637			429
(Loss)/income before income tax expense and
equity in undistributed earnings of Bank		(524	)		(636	)		932
Income tax benefit		(180	)		(216	)		(50	)
Net (loss)/income before equity in undistributed earnings of Bank		(344	)		(420	)		982
Equity in
undistributed earnings of Bank/(dividends in excess of earnings)		20,316			15,310			8,279
Net income		19,972			14,890			9,261
Accumulated other comprehensive (loss)/income		(1,600	)		1,198			(4,276	)
Comprehensive income	$	18,372		$	16,088		$	4,985

Schedule of Condensed Statements of Cash Flows

	Years Ended December 31,
(In thousands)	2015			2014			2013
Cash flows from operating activities:
Net income	$	19,972		$	14,890		$	9,261
Undistributed (earnings)/loss of Bank		(20,316	)		(15,310	)		(8,279	)
Gain on securities available for sale		—			—			(2	)
(Increase)/decrease in other assets		(194	)		427			(37	)
Increase/(decrease) in other liabilities		81			(63	)		179
Net cash (used in)/provided by operating activities		(457	)		(56	)		1,122
Cash flows from investing activities:
Capital contribution to subsidiary		(18,000	)		(88,674	)		—
Proceeds from sales and calls of securities
available for sale		—			—			213
Net cash (used in)/provided by investing activities		(18,000	)		(88,674	)		213
Cash flows from financing activities:
Cash dividends paid on common stock		(3,100	)		(2,414	)		(1,802	)
Exercise of stock options, net of stock swaps		86			174			30
Net proceeds, rights offering		—			48,358			41,100
Issuance of common shares (DRIP program)		13,648			7,429			3,248
Purchase of shares for Profit Sharing Plan		—			70			130
Net cash provided by financing activities		10,634			53,617			42,706
Net (decrease)/increase in cash and cash equivalents		(7,823	)		(35,113	)		44,041
Cash and cash equivalents at beginning of period		9,827			44,940			899
Cash and cash equivalents at end of period	$	2,004		$	9,827		$	44,940