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

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule of Condensed Statements of Condition

STATEMENTS OF CONDITION

	December 31,
(In thousands)	2019			2018
Assets
Cash	$	13,931		$	12,971
Interest-earning deposits		523			517
Total cash and cash equivalents		14,454			13,488
Investment in subsidiary		567,964			535,277
Other assets		4,920			3,734
Total assets	$	587,338		$	552,499
Liabilities
Subordinated debt	$	83,417		$	83,193
Other liabilities		269			293
Total liabilities		83,686			83,486
Shareholders’ equity
Common stock		16,733			16,459
Surplus		319,375			309,088
Treasury stock		(29,990	)		(8,988	)
Retained earnings		199,029			154,799
Accumulated other comprehensive loss		(1,495	)		(2,345	)
Total shareholders’ equity		503,652			469,013
Total liabilities and shareholders’ equity	$	587,338		$	552,499

Schedule of Condensed Statements of Income

STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

	Years Ended December 31,
(In thousands)	2019			2018			2017
Income
Dividend from Bank	$	31,000		$	—		$	—
Other income		6			4			2
Total income		31,006			4			2
Expenses
Interest expense		4,895			4,887			3,206
Other expenses		721			480			554
Total expenses		5,616			5,367			3,760
Income/(loss) before income tax benefit and    equity in undistributed earnings of Bank		25,390			(5,363	)		(3,758	)
Income tax benefit		(1,178	)		(1,123	)		(1,313	)
Net income/(loss) before equity in undistributed earnings of Bank		26,568			(4,240	)		(2,445	)
Equity in undistributed earnings of Bank/(dividends    in excess of earnings)		20,866			48,410			38,942
Net income	$	47,434		$	44,170		$	36,497
Other comprehensive income/(loss)		850			(1,260	)		534
Comprehensive income	$	48,284		$	42,910		$	37,031

Schedule of Condensed Statements of Cash Flows

STATEMENTS OF CASH FLOWS

	Years Ended December 31,
(In thousands)	2019			2018			2017
Cash flows from operating activities:
Net income	$	47,434		$	44,170		$	36,497
Undistributed earnings of Bank		(20,866	)		(48,410	)		(38,942	)
Amortization of subordinated debt costs		224			171			135
Increase in other assets		(1,186	)		(1,183	)		(1,248	)
(Decrease)/increase in other liabilities		(24	)		(256	)		113
Net cash provided by/(used in) operating activities		25,582			(5,508	)		(3,445	)
Cash flows from investing activities:
Capital contribution to subsidiary		—			(9,322	)		(60,177	)
Net cash used in investing activities		—			(9,322	)		(60,177	)
Cash flows from financing activities:
Cash dividends paid on common stock		(3,865	)		(3,712	)		(3,548	)
Exercise of stock options, net of stock swaps		251			275			690
Proceeds from issuance of subordinated debt		—			—			34,125
Issuance of common shares (DRIP program)		—			16,677			36,588
Shares repurchase		(21,002	)		—			—
Net cash (used in)/provided by financing activities		(24,616	)		13,240			67,855
Net increase/(decrease) in cash and cash equivalents		966			(1,590	)		4,233
Cash and cash equivalents at beginning of period		13,488			15,078			10,845
Cash and cash equivalents at end of period	$	14,454		$	13,488		$	15,078