XML 78 R68.htm IDEA: XBRL DOCUMENT
v3.21.2

FAIR VALUE (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020
--- | --- | ---
Financial Assets: |  |  |
Securities available for sale |  | $ 843,779 | $ 622,689
FHLB and FRB stock |  | 12,950 | 13,709
Loans held for sale, at fair value |  | 3,013 | 13,588
Loans held for sale, at lower of cost or fair value |  | 17,235 | 18,520
Accrued interest receivable |  | 22,790 | 22,495
Financial Liabilities: |  |  |
Short-term borrowings |  |  | 15,000
Paycheck Protection Program Liquidity Facility |  | 48,496 | 177,086
Carrying Value [Member] |  |  |
Financial Assets: |  |  |
Cash and cash equivalents |  | 616,212 | 653,322
Securities available for sale |  | 843,779 | 622,689
CRA investment fund |  | 14,824 | 15,117
FHLB and FRB stock |  | 12,950 | 13,709
Loans held for sale, at fair value |  | 3,013 | 13,588
Loans held for sale, at lower of cost or fair value |  | 17,235 | 18,520
Loans, net of allowance for loan and lease losses |  | 4,510,265 | 4,305,128
Accrued interest receivable |  | 22,790 | 22,495
Financial Liabilities: |  |  |
Deposits |  | 5,376,341 | 4,818,484
Short-term borrowings |  |  | 15,000
Paycheck Protection Program Liquidity Facility |  | 48,496 | 177,086
Subordinated debt |  | 132,629 | 181,794
Accrued interest payable |  | 2,157 | 1,650
Carrying Value [Member] | Designated as Hedging Instrument [Member] |  |  |
Financial Liabilities: |  |  |
Derivatives |  | 5,267 | 9,616
Carrying Value [Member] | Not Designated as Hedging Instrument [Member] |  |  |
Financial Assets: |  |  |
Accrued interest receivable | [1] | 4,688 |
Derivatives |  | 43,133 | 79,529
Financial Liabilities: |  |  |
Accrued interest payable | [2] | 4,688 |
Derivatives |  | 44,483 | 79,529
Fair value [Member] |  |  |
Financial Assets: |  |  |
Cash and cash equivalents |  | 616,212 | 653,322
Securities available for sale |  | 843,779 | 622,689
CRA investment fund |  | 14,824 | 15,117
Loans held for sale, at fair value |  | 3,013 | 13,588
Loans held for sale, at lower of cost or fair value |  | 18,627 | 19,115
Loans, net of allowance for loan and lease losses |  | 4,619,193 | 4,462,243
Accrued interest receivable |  | 22,790 | 22,495
Financial Liabilities: |  |  |
Deposits |  | 5,379,990 | 4,826,406
Short-term borrowings |  |  | 15,000
Paycheck Protection Program Liquidity Facility |  | 48,496 | 177,086
Subordinated debt |  | 130,917 | 183,348
Accrued interest payable |  | 2,157 | 1,650
Fair value [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] |  |  |
Financial Assets: |  |  |
Cash and cash equivalents |  | 616,212 | 653,322
CRA investment fund |  | 14,824 | 15,117
Financial Liabilities: |  |  |
Deposits |  | 4,884,174 | 4,222,370
Accrued interest payable |  | 132 | 150
Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member] |  |  |
Financial Assets: |  |  |
Securities available for sale |  | 843,779 | 622,689
Loans held for sale, at fair value |  | 3,013 | 13,588
Loans held for sale, at lower of cost or fair value |  | 18,627 | 19,115
Accrued interest receivable |  | 2,028 | 1,653
Financial Liabilities: |  |  |
Deposits |  | 495,816 | 604,036
Short-term borrowings |  |  | 15,000
Paycheck Protection Program Liquidity Facility |  | 48,496 | 177,086
Accrued interest payable |  | 659 | 1,347
Fair value [Member] | Significant Unobservable Inputs (Level 3) [Member] |  |  |
Financial Assets: |  |  |
Loans, net of allowance for loan and lease losses |  | 4,619,193 | 4,462,243
Accrued interest receivable |  | 20,762 | 20,842
Financial Liabilities: |  |  |
Subordinated debt |  | 130,917 | 183,348
Accrued interest payable |  | 1,366 | 153
Fair value [Member] | Designated as Hedging Instrument [Member] |  |  |
Financial Liabilities: |  |  |
Derivatives |  | 5,267 | 9,616
Fair value [Member] | Designated as Hedging Instrument [Member] | Significant Other Observable Inputs (Level 2) [Member] |  |  |
Financial Liabilities: |  |  |
Derivatives |  | 5,267 | 9,616
Fair value [Member] | Not Designated as Hedging Instrument [Member] |  |  |
Financial Assets: |  |  |
Accrued interest receivable | [1] | 4,688 |
Derivatives |  | 43,133 | 79,529
Financial Liabilities: |  |  |
Accrued interest payable | [2] | 4,688 |
Derivatives |  | 44,483 | 79,529
Fair value [Member] | Not Designated as Hedging Instrument [Member] | Significant Other Observable Inputs (Level 2) [Member] |  |  |
Financial Assets: |  |  |
Accrued interest receivable | [1] | 4,688 |
Derivatives |  | 43,133 | 79,529
Financial Liabilities: |  |  |
Accrued interest payable | [2] | 4,688 |
Derivatives |  | $ 44,483 | $ 79,529
[1] | Included in other assets in the Consolidated Statement of Condition.
[2] | Included in accrued expenses and other liabilities in the Consolidated Statement of Condition.

X
- Definition Loans And Leases Receivable, Held At Cost Or Fair Value. + References No definition available. + Details
Name: | pgc_LoansAndLeasesReceivableHeldAtCostOrFairValue
Namespace Prefix: | pgc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Paycheck protection program liquidity facility. + References No definition available. + Details
Name: | pgc_PaycheckProtectionProgramLiquidityFacility
Namespace Prefix: | pgc_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(6)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124258926&loc=SL82898722-210454 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=124260329&loc=d3e26610-111562 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (aa) -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27161-111563 + Details
Name: | us-gaap_AvailableForSaleSecuritiesDebtSecurities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. + References No definition available. + Details
Name: | us-gaap_CashAndCashEquivalentsFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of deposit liabilities held by the entity, including, but not limited to, foreign and domestic, interest and noninterest bearing, demand deposits, saving deposits, negotiable orders of withdrawal (NOW) and time deposits. + References No definition available. + Details
Name: | us-gaap_DepositsFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226052-175313 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13433-108611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 + Details
Name: | us-gaap_DerivativeAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226008-175313 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13433-108611 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 55 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=99393222&loc=SL20226052-175313 + Details
Name: | us-gaap_DerivativeLiabilities
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Fair value of subordinated debt obligations including, but not limited to, subordinated loan, subordinated bond, subordinated debenture or junior debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisSubordinatedDebtObligations
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of Federal Home Loan Bank (FHLB) and Federal Reserve Bank stock. + References No definition available. + Details
Name: | us-gaap_FederalHomeLoanBankStockAndFederalReserveBankStock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of interest payable on debt, including, but not limited to, trade payables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.15(5)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.15(a)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 + Details
Name: | us-gaap_InterestPayableCurrentAndNoncurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.8) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_InterestReceivable
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_InvestmentsFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of loans held-for-sale including, but not limited to, mortgage loans and finance receivables. + References No definition available. + Details
Name: | us-gaap_LoansHeldForSaleFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Fair value portion of loan receivable, including, but not limited to, mortgage loans held for investment, finance receivables held for investment, policy loans on insurance contracts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
Name: | us-gaap_LoansReceivableFairValueDisclosure
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -Section 55 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(a)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(1)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 + Details
Name: | us-gaap_ShortTermBorrowings
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_FairValueByMeasurementBasisAxis=us-gaap_CarryingReportedAmountFairValueDisclosureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByMeasurementBasisAxis=us-gaap_EstimateOfFairValueFairValueDisclosureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |