XML 40 R31.htm IDEA: XBRL DOCUMENT v3.23.3

BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2023

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, 2023 and 2022.

		Three Months Ended September 30, 2023
						Peapack
(In thousands)		Banking				Private				Total
Net interest income		$	35,811			$	704			$	36,515
Noninterest income			5,120				14,234				19,354
Total income			40,931				14,938				55,869
Provision for credit losses			5,856				—				5,856
Compensation and benefits			18,440				6,824				25,264
Premises and equipment expense			4,436				778				5,214
FDIC expense			741				—				741
Other operating expense			4,188				2,006				6,194
Total operating expense			33,661				9,608				43,269
Income before income tax expense			7,270				5,330				12,600
Income tax expense			2,275				1,570				3,845
Net income		$	4,995			$	3,760			$	8,755

		Three Months Ended September 30, 2022
						Peapack
(In thousands)		Banking				Private				Total
Net interest income		$	43,327			$	2,198			$	45,525
Noninterest income			2,955				13,428				16,383
Total income			46,282				15,626				61,908
Provision for loan and lease losses			599				—				599
Compensation and employee benefits			15,343				7,313				22,656
Premises and equipment expense			3,908				626				4,534
FDIC insurance expense			510				—				510
Other operating expense			3,235				2,625				5,860
Total operating expense			23,595				10,564				34,159
Income before income tax expense			22,687				5,062				27,749
Income tax expense			6,193				1,430				7,623
Net income		$	16,494			$	3,632			$	20,126

		Nine Months Ended September 30, 2023
						Peapack
(In thousands)		Banking				Private				Total
Net interest income		$	116,004			$	3,410			$	119,414
Noninterest income			13,027				42,961				55,988
Total income			129,031				46,371				175,402
Provision for credit losses			9,065				—				9,065
Compensation and employee benefits			54,558				21,646				76,204
Premises and equipment expense			12,072				2,245				14,317
FDIC insurance expense			2,181				—				2,181
Other operating expense			11,317				6,660				17,977
Total operating expense			89,193				30,551				119,744
Income before income tax expense			39,838				15,820				55,658
Income tax expense			11,021				4,382				15,403
Net income		$	28,817			$	11,438			$	40,255
Total assets at period end		$	6,405,796			$	115,785			$	6,521,581

		Nine Months Ended September 30, 2022
						Peapack
(In thousands)		Banking				Private				Total
Net interest income		$	122,404			$	5,636			$	128,040
Noninterest income			6,645				42,960				49,605
Total income			129,049				48,596				177,645
Provision for loan and lease losses			4,423				—				4,423
Compensation and employee benefits			47,222				19,765				66,987
Premises and equipment expense			11,674				2,147				13,821
FDIC insurance expense			1,484				—				1,484
Other operating expense			10,613				7,483				18,096
Total operating expense			75,416				29,395				104,811
Income before income tax expense			53,633				19,201				72,834
Income tax expense			14,117				5,050				19,167
Net income		$	39,516			$	14,151			$	53,667
Total assets at period end		$	5,999,393			$	87,868			$	6,087,261

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
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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