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BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2024

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 months ended March 31, 2024 and 2023.

		Three Months Ended March 31, 2024
						Peapack
(In thousands)		Banking				Private				Total
Net interest income		$	33,760			$	615			$	34,375
Noninterest income			4,087				14,614				18,701
Total income			37,847				15,229				53,076
Provision for credit losses			627				—				627
Compensation and employee benefits			21,723				6,753				28,476
Premises and equipment expense			4,378				703				5,081
FDIC insurance expense			945				—				945
Other operating expense			3,588				1,951				5,539
Total operating expense			31,261				9,407				40,668
Income before income tax expense			6,586				5,822				12,408
Income tax expense			2,007				1,770				3,777
Net income		$	4,579			$	4,052			$	8,631
Total assets at period end		$	6,287,018			$	121,535			$	6,408,553

		Three Months Ended March 31, 2023
						Peapack
(In thousands)		Banking				Private				Total
Net interest income		$	42,090			$	1,888			$	43,978
Noninterest income			3,835				14,224				18,059
Total income			45,925				16,112				62,037
Provision for credit losses			1,513				—				1,513
Compensation and employee benefits			18,169				6,417				24,586
Premises and equipment expense			3,613				761				4,374
FDIC insurance expense			711				—				711
Other operating expense			3,274				2,629				5,903
Total operating expense			27,280				9,807				37,087
Income before income tax expense			18,645				6,305				24,950
Income tax expense			4,930				1,665				6,595
Net income		$	13,715			$	4,640			$	18,355
Total assets at period end		$	6,366,729			$	113,289			$	6,480,018

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- 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

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- References

No definition available.

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