BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2021

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, 2021 and 2020.

	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 benefits		13,079		6,780		19,859
Premises and equipment expense		3,861		598		4,459
FDIC 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

	Three Months Ended September 30, 2020
			Peapack
(In thousands)	Banking		Private		Total
Net interest income	$	30,557	$	1,592	$	32,149
Noninterest income		9,451		10,760		20,211
Total income		40,008		12,352		52,360
Provision for loan and lease losses		5,150		—		5,150
Compensation and employee benefits		13,258		5,944		19,202
Premises and equipment expense		3,527		582		4,109
FDIC insurance expense		605		—		605
Other operating expense		2,231		2,314		4,545
Total operating expense		24,771		8,840		33,611
Income before income tax expense		15,237		3,512		18,749
Income tax expense		4,254		948		5,202
Net income	$	10,983	$	2,564	$	13,547

	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

	Nine Months Ended September 30, 2020
			Peapack
(In thousands)	Banking		Private		Total
Net interest income	$	91,419	$	4,448	$	95,867
Noninterest income		16,036		31,318		47,354
Total income		107,455		35,766		143,221
Provision for loan and lease losses		30,050		—		30,050
Compensation and employee benefits		40,239		17,375		57,614
Premises and equipment expense		10,435		1,753		12,188
FDIC insurance expense		1,310		—		1,310
Other operating expense		7,889		6,709		14,598
Total operating expense		89,923		25,837		115,760
Income before income tax (benefit)/expense		17,532		9,929		27,461
Income tax (benefit)/expense		1,618		2,681		4,299
Net income	$	15,914	$	7,248	$	23,162
Total assets at period end	$	5,878,481	$	79,626	$	5,958,107