XML 74 R68.htm IDEA: XBRL DOCUMENT v3.24.2.u1
BUSINESS SEGMENTS - Schedule of Income and Total Assets for Reportable Segments (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Net interest income $ 35,042 $ 38,921 $ 69,417 $ 82,899  
Noninterest income 21,555 18,575 40,256 36,634  
Total income 56,597 57,496 109,673 119,533  
Provision for credit losses 3,911 1,696 4,538 3,209  
Compensation and employee benefits 29,884 26,354 58,360 50,940  
Premises and equipment 5,776 4,729 10,857 9,103  
FDIC insurance expense 870 729 1,815 1,440  
Other operating expense 6,596 5,880 12,135 11,783  
Total operating expense 47,037 39,388 87,705 76,475  
INCOME BEFORE INCOME TAX EXPENSE 9,560 18,108 21,968 43,058  
Income tax expense 2,030 4,963 5,807 11,558  
NET INCOME 7,530 13,145 16,161 31,500  
Total assets at period end 6,505,350 6,479,700 6,505,350 6,479,700 $ 6,476,857
Banking Segment [Member]          
Net interest income 34,462 38,103 68,222 80,193  
Noninterest income 4,925 4,072 9,012 7,907  
Total income 39,387 42,175 77,234 88,100  
Provision for credit losses 3,911 1,696 4,538 3,209  
Compensation and employee benefits 21,874 17,949 43,597 36,118  
Premises and equipment 5,042 4,023 9,420 7,636  
FDIC insurance expense 870 729 1,815 1,440  
Other operating expense 4,630 3,855 8,218 7,129  
Total operating expense 36,327 28,252 67,588 55,532  
INCOME BEFORE INCOME TAX EXPENSE 3,060 13,923 9,646 32,568  
Income tax expense 547 3,816 2,554 8,746  
NET INCOME 2,513 10,107 7,092 23,822  
Total assets at period end 6,382,263 6,363,409 6,382,263 6,363,409  
Peapack Private Segment [Member]          
Net interest income 580 818 1,195 2,706  
Noninterest income 16,630 14,503 31,244 28,727  
Total income 17,210 15,321 32,439 31,433  
Compensation and employee benefits 8,010 8,405 14,763 14,822  
Premises and equipment 734 706 1,437 1,467  
Other operating expense 1,966 2,025 3,917 4,654  
Total operating expense 10,710 11,136 20,117 20,943  
INCOME BEFORE INCOME TAX EXPENSE 6,500 4,185 12,322 10,490  
Income tax expense 1,483 1,147 3,253 2,812  
NET INCOME 5,017 3,038 9,069 7,678  
Total assets at period end $ 123,087 $ 116,291 $ 123,087 $ 116,291