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CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] |
Schedule of Condensed Statements of Condition | STATEMENTS OF CONDITION
|  | December 31, |
(In thousands) |  | 2020 |  |  | 2019 |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 117,670 |  |  | $ | 13,931 |
Interest-earning deposits |  |  | 523 |  |  |  | 523 |
Total cash and cash equivalents |  |  | 118,193 |  |  |  | 14,454 |
Investment in subsidiary |  |  | 593,162 |  |  |  | 567,964 |
Other assets |  |  | 6 |  |  |  | 4,920 |
Total assets |  | $ | 711,361 |  |  | $ | 587,338 |
Liabilities |  |  |  |  |  |  |  |
Subordinated debt |  | $ | 181,794 |  |  | $ | 83,417 |
Other liabilities |  |  | 2,445 |  |  |  | 269 |
Total liabilities |  |  | 184,239 |  |  |  | 83,686 |
Shareholders’ equity |  |  |  |  |  |  |  |
Common stock |  |  | 16,958 |  |  |  | 16,733 |
Surplus |  |  | 326,592 |  |  |  | 319,375 |
Treasury stock |  |  | (36,477 | ) |  |  | (29,990 | )
Retained earnings |  |  | 221,441 |  |  |  | 199,029 |
Accumulated other comprehensive loss |  |  | (1,392 | ) |  |  | (1,495 | )
Total shareholders’ equity |  |  | 527,122 |  |  |  | 503,652 |
Total liabilities and shareholders’ equity |  | $ | 711,361 |  |  | $ | 587,338 |
Schedule of Condensed Statements of Income | STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
|  | Years Ended December 31, |
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Income |  |  |  |  |  |  |  |  |  |  |  |
Dividend from Bank |  | $ | 13,000 |  |  | $ | 31,000 |  |  | $ | — |
Other income |  |  | 2 |  |  |  | 6 |  |  |  | 4 |
Total income |  |  | 13,002 |  |  |  | 31,006 |  |  |  | 4 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 4,992 |  |  |  | 4,895 |  |  |  | 4,887 |
Other expenses |  |  | 948 |  |  |  | 721 |  |  |  | 480 |
Total expenses |  |  | 5,940 |  |  |  | 5,616 |  |  |  | 5,367 |
Income/(loss) before income tax benefit and equity in undistributed earnings of Bank |  |  | 7,062 |  |  |  | 25,390 |  |  |  | (5,363 | )
Income tax benefit |  |  | (1,247 | ) |  |  | (1,178 | ) |  |  | (1,123 | )
Net income/(loss) before equity in undistributed earnings of Bank |  |  | 8,309 |  |  |  | 26,568 |  |  |  | (4,240 | )
Equity in undistributed earnings of Bank/(dividends in excess of earnings) |  |  | 17,883 |  |  |  | 20,866 |  |  |  | 48,410 |
Net income |  | $ | 26,192 |  |  | $ | 47,434 |  |  | $ | 44,170 |
Other comprehensive income/(loss) |  |  | 103 |  |  |  | 850 |  |  |  | (1,260 | )
Comprehensive income |  | $ | 26,295 |  |  | $ | 48,284 |  |  | $ | 42,910 |
Schedule of Condensed Statements of Cash Flows | STATEMENTS OF CASH FLOWS
|  | Years Ended December 31, |
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 26,192 |  |  | $ | 47,434 |  |  | $ | 44,170 |
Undistributed earnings of Bank |  |  | (17,883 | ) |  |  | (20,866 | ) |  |  | (48,410 | )
Amortization of subordinated debt costs |  |  | 234 |  |  |  | 224 |  |  |  | 171 |
Decrease/(increase) in other assets |  |  | 4,914 |  |  |  | (1,186 | ) |  |  | (1,183 | )
Increase/(decrease) in other liabilities |  |  | 2,176 |  |  |  | (24 | ) |  |  | (256 | )
Net cash provided by/(used in) operating activities |  |  | 15,633 |  |  |  | 25,582 |  |  |  | (5,508 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Capital contribution to subsidiary |  |  | — |  |  |  | — |  |  |  | (9,322 | )
Net cash used in investing activities |  |  | — |  |  |  | — |  |  |  | (9,322 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid on common stock |  |  | (3,780 | ) |  |  | (3,865 | ) |  |  | (3,712 | )
Exercise of stock options, net of stock swaps |  |  | 230 |  |  |  | 251 |  |  |  | 275 |
Proceeds from issuance of subordinated debt |  |  | 98,143 |  |  |  | — |  |  |  | — |
Issuance of common shares (DRIP program) |  |  | — |  |  |  | — |  |  |  | 16,677 |
Shares repurchase |  |  | (6,487 | ) |  |  | (21,002 | ) |  |  | — |
Net cash provided by/(used in) financing activities |  |  | 88,106 |  |  |  | (24,616 | ) |  |  | 13,240 |
Net increase/(decrease) in cash and cash equivalents |  |  | 103,739 |  |  |  | 966 |  |  |  | (1,590 | )
Cash and cash equivalents at beginning of period |  |  | 14,454 |  |  |  | 13,488 |  |  |  | 15,078 |
Cash and cash equivalents at end of period |  | $ | 118,193 |  |  | $ | 14,454 |  |  | $ | 13,488 |

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