XML 40 R28.htm IDEA: XBRL DOCUMENT v3.21.2

BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 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 six months ended June 30, 2021 and 2020.

		Three Months Ended June 30, 2021
						Peapack
(In thousands)		Banking				Private				Total
Net interest income		$	32,399			$	1,446			$	33,845
Noninterest income			4,194				13,484				17,678
Total income			36,593				14,930				51,523
Provision for loan and lease losses			900				—				900
Compensation and benefits			14,369				5,541				19,910
Premises and equipment expense			3,519				555				4,074
FDIC expense			529				—				529
Other operating expense			3,817				2,354				6,171
Total operating expense			23,134				8,450				31,584
Income before income tax expense			13,459				6,480				19,939
Income tax expense			3,721				1,800				5,521
Net income		$	9,738			$	4,680			$	14,418

		Three Months Ended June 30, 2020
						Peapack
(In thousands)		Banking				Private				Total
Net interest income		$	30,453			$	1,518			$	31,971
Noninterest income			2,356				10,270				12,626
Total income			32,809				11,788				44,597
Provision for loan and lease losses			4,900				—				4,900
Compensation and employee benefits			13,774				5,412				19,186
Premises and equipment expense			3,487				549				4,036
FDIC insurance expense			455				—				455
Other operating expense			3,052				2,285				5,337
Total operating expense			25,668				8,246				33,914
Income before income tax expense			7,141				3,542				10,683
Income tax expense			1,257				1,184				2,441
Net income		$	5,884			$	2,358			$	8,242

		Six Months Ended June 30, 2021
						Peapack
(In thousands)		Banking				Private				Total
Net interest income		$	62,625			$	3,013			$	65,638
Noninterest income			9,334				26,164				35,498
Total income			71,959				29,177				101,136
Provision for loan and lease losses			1,125				—				1,125
Compensation and employee benefits			30,797				11,103				41,900
Premises and equipment expense			7,089				1,098				8,187
FDIC insurance expense			1,114				—				1,114
Other operating expense			6,208				4,869				11,077
Total operating expense			46,333				17,070				63,403
Income before income tax expense			25,626				12,107				37,733
Income tax expense			6,880				3,257				10,137
Net income		$	18,746			$	8,850			$	27,596
Total assets at period end		$	5,700,105			$	91,583			$	5,791,688

		Six Months Ended June 30, 2020
						Peapack
(In thousands)		Banking				Private				Total
Net interest income		$	60,862			$	2,856			$	63,718
Noninterest income			6,585				20,558				27,143
Total income			67,447				23,414				90,861
Provision for loan and lease losses			24,900				—				24,900
Compensation and employee benefits			26,981				11,431				38,412
Premises and equipment expense			6,908				1,171				8,079
FDIC insurance expense			705				—				705
Other operating expense			5,658				4,395				10,053
Total operating expense			65,152				16,997				82,149
Income before income tax (benefit)/expense			2,295				6,417				8,712
Income tax (benefit)/expense			(2,636	)			1,733				(903	)
Net income		$	4,931			$	4,684			$	9,615
Total assets at period end		$	6,203,441			$	77,774			$	6,281,215

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration