Peapack-Gladstone Financial (PGC) 10-K 13 Mar 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Mar. 01, 2023	Jun. 30, 2022
Cover [Abstract]
Entity Registrant Name	PEAPACK-GLADSTONE FINANCIAL CORPORATION
Entity Central Index Key	0001050743
Document Type	10-K
Document Period End Date	Dec. 31, 2022
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Public Float			$ 507
Entity Common Stock, Shares Outstanding		17,826,405
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Trading Symbol	PGC
Entity File Number	001-16197
Entity Tax Identification Number	22-3537895
Entity Address, Address Line One	500 Hills Drive
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Bedminster
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07921
City Area Code	908
Local Phone Number	234-0700
Entity Incorporation, State or Country Code	NJ
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, No par value
Security Exchange Name	NASDAQ
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	true
Auditor Firm ID	173
Auditor Name	Crowe LLP
Auditor Location	Livingston, New Jersey USA
Documents Incorporated by Reference	Portions of the Company’s Definitive Proxy Statement for the Company’s 2023 Annual Meeting of Shareholders (the “2023 Proxy Statement”) are incorporated by reference into Part III. The Company expects to file the 2023 Proxy Statement within 120 days of December 31, 2022.

CONSOLIDATED STATEMENTS OF COND

CONSOLIDATED STATEMENTS OF CONDITION - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash and due from banks		$ 5,937	$ 5,929
Interest-earning deposits		184,138	140,875
Total cash and cash equivalents		190,075	146,804
Securities held to maturity (fair value $87,187 at December 31, 2022 and $108,460 at December 31, 2021)		102,291	108,680
Securities available for sale		554,648	796,753
CRA equity security, at fair value		12,985	14,685
FHLB and FRB stock, at cost (1)	[1]	30,672	12,950
Loans held for sale, at fair value			3,040
Loans held for sale, at lower of cost or fair value		15,626	34,051
Loans		5,285,246	4,806,721
Less: allowance for credit losses (2)	[2]	60,829	61,697
Net loans		5,224,417	4,745,024
Premises and equipment		23,831	23,044
Other real estate owned		116
Accrued interest receivable		25,157	21,589
Bank owned life insurance		47,147	46,663
Goodwill		36,212	36,212
Other intangible assets		11,121	12,690
Finance lease right-of-use assets		2,835	3,582
Operating lease right-of-use assets		12,873	9,775
Other assets		63,587	62,451
Total assets		6,353,593	6,077,993
Deposits:
Noninterest-bearing demand deposits		1,246,066	956,482
Interest-bearing deposits:
Checking	[3]	2,143,611	2,287,894
Savings		157,338	154,914
Money market accounts		1,228,234	1,307,051
Certificates of deposit - retail		318,573	409,608
Certificates of deposit - listing service		25,358	31,382
Subtotal deposits		5,119,180	5,147,331
Interest-bearing demand – Brokered		60,000	85,000
Certificates of deposit - Brokered		25,984	33,818
Total deposits		5,205,164	5,266,149
Short-term borrowings		379,530
Finance lease liabilities		4,696	5,820
Operating lease liabilities		13,704	10,111
Subordinated debt, net		132,987	132,701
Deferred tax liabilities, net		15,432	39,322
Accrued expenses and other liabilities		69,100	77,502
Total liabilities		5,820,613	5,531,605
SHAREHOLDERS’ EQUITY
Preferred stock (no par value; authorized 500,000 shares)
Common stock (no par value; stated value $0.83 per share; authorized 42,000,000 shares; issued shares, 21,007,350 at December 31, 2022 and 20,656,810 at December 31, 2021; outstanding shares, 17,813,451 at December 31, 2022 and 18,393,888 at December 31, 2021)		17,513	17,220
Surplus		338,706	332,358
Treasury stock at cost (3,193,899 shares at December 31, 2022 and 2,262,922 shares at December 31, 2021)		(97,826)	(65,104)
Retained earnings		348,798	274,288
Accumulated other comprehensive loss		(74,211)	(12,374)
Total shareholders’ equity		532,980	546,388
Total liabilities and shareholders’ equity		$ 6,353,593	$ 6,077,993
[1] FHLB means "Federal Home Loan Bank" and FRB means "Federal Reserve Bank." Commencing on January 1, 2022, the allowance calculation is based on the current expected credit loss ("CECL") methodology. Prior to January 1, 2022, the calculation was based on the incurred loss methodology. Interest-bearing checking includes $ 620.1 million at December 31, 2022 and $ 647.8 million at December 31, 2021 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace programs.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF CONDITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Securities held to maturity fair value	$ 87,187	$ 108,460
Preferred stock, par value	$ 0	$ 0
Preferred stock, shares authorized	500,000	500,000
Common stock, stated value	$ 0.83	$ 0.83
Common stock, shares authorized	42,000,000	42,000,000
Common stock, shares issued	21,007,350	20,656,810
Common stock, shares outstanding	17,813,451	18,393,888
Treasury stock, shares	3,193,899	2,262,922

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
INTEREST INCOME
Loans, including fees		$ 195,197	$ 147,814	$ 155,790
Taxable securities		13,854	11,577	8,782
Tax-exempt securities		61	131	210
Interest-earning deposits		2,763	545	968
Total interest income		211,875	160,067	165,750
INTEREST EXPENSE
Savings and interest-bearing deposit accounts		24,000	7,383	13,527
Certificates of deposit		2,970	4,058	11,476
Borrowed funds		600	473	3,976
Finance lease liability		251	300	343
Subordinated debt		5,453	7,013	4,992
Subtotal – interest expense		33,274	19,227	34,314
Interest-bearing demand - brokered		1,579	1,721	2,773
Interest on certificates of deposits – brokered		942	1,058	1,061
Total interest expense		35,795	22,006	38,148
Net interest income before provision for credit losses		176,080	138,061	127,602
Provision for credit losses	[1]	6,353	6,475	32,400
Net interest income after provision for credit losses		169,727	131,586	95,202
OTHER INCOME
Wealth management fee income		54,651	52,987	40,861
Service charges and fees		4,225	3,697	3,155
Bank owned life insurance		1,243	1,696	1,273
Gain on loans held for sale at fair value (mortgage banking)		483	2,194	3,266
Gain on loans held for sale at lower of cost or fair value			1,142	7,426
Fee income related to loan level, back-to-back swaps		293		1,620
Gain on sale of SBA loans		6,765	4,939	1,766
Corporate advisory fee income		1,704	3,483	265
Loss on swap termination			(842)
Other income		5,362	3,379	1,847
Loss on securities sale, net		(6,609)
Fair value adjustment for CRA equity security		(1,700)	(432)	281
Total noninterest other income		66,417	72,243	61,760
OPERATING EXPENSES
Compensation and employee benefits		89,476	81,864	77,516
Premises and equipment		18,719	17,165	16,377
FDIC insurance expense		1,939	2,071	1,975
FHLB prepayment penalty				4,784
Valuation allowance loans held for sale				4,425
Swap valuation allowance		673	2,243
Other operating expenses		22,993	22,824	19,882
Total operating expenses		133,800	126,167	124,959
Income before income tax expense		102,344	77,662	32,003
Income tax expense		28,098	21,040	5,811
Net income		$ 74,246	$ 56,622	$ 26,192
EARNINGS PER SHARE
Basic		$ 4.09	$ 3.01	$ 1.39
Diluted		$ 4	$ 2.93	$ 1.37
[1] (1) Commencing on January 1, 2022, the allowance calculation is based on the current expected credit loss ("CECL") methodology. Prior to January 1, 2022, the calculation was based on the incurred loss methodology.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 74,246	$ 56,622	$ 26,192
Unrealized gains/(losses) on available for sale securities:
Unrealized gains/(losses) arising during the period	(100,072)	(20,227)	5,962
Reclassification adjustment for amounts included in net income	6,609
Before tax	(93,463)	(20,227)	5,962
Tax effect	22,364	4,833	(1,447)
Net of tax	(71,099)	(15,394)	4,515
Unrealized gains/(losses) on cash flow hedge
Unrealized holding gains/(losses)	12,884	5,295	(5,860)
Reclassification adjustment for amounts included in net income	(116)	842	(89)
Before tax	12,768	6,137	(5,949)
Tax effect	(3,506)	(1,725)	1,537
Net of tax	9,262	4,412	(4,412)
Other Comprehensive Income/(Loss)	(61,837)	(10,982)	103
Total comprehensive income	$ 12,409	$ 45,640	$ 26,295

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock [Member]	Common Stock [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Surplus [Member]	Surplus [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Treasury Stock [Member]	Treasury Stock [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Accumulated Other Comprehensive Income/(Loss) [Member] Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Balance at Dec. 31, 2019	$ 503,652			$ 16,733		$ 319,375		$ (29,990)		$ 199,029			$ (1,495)
Net income	26,192									26,192
Other comprehensive income (loss)	103												103
Restricted stock units issued				142		(142)
Restricted stock units/awards repurchased on vesting to pay taxes	(741)			(37)		(704)
Amortization of restricted stock awards/units	6,875					6,875
Cash dividends declared on common stock	(3,780)									(3,780)
Common stock options exercised	230			17		213
Issuance of shares for Employee Stock Purchase Plan	1,078			47		1,031
Shares repurchase	(6,487)							(6,487)
Issuance of common stock for acquisition				50		(50)
Exercise of warrants				6		(6)
Balance at Dec. 31, 2020	527,122			16,958		326,592		(36,477)		221,441			(1,392)
Net income	56,622									56,622
Other comprehensive income (loss)	(10,982)												(10,982)
Restricted stock units issued				251		(251)
Restricted stock units/awards repurchased on vesting to pay taxes	(2,380)			(63)		(2,317)
Amortization of restricted stock awards/units	7,055					7,055
Cash dividends declared on common stock	(3,775)									(3,775)
Common stock options exercised	187			14		173
Issuance of shares for Employee Stock Purchase Plan	833			22		811
Shares repurchase	(28,627)							(28,627)
Issuance of common stock for acquisition	333			20		313
Exercise of warrants				18		(18)
Balance at Dec. 31, 2021	546,388		$ 550,297	17,220	$ 17,220	332,358	$ 332,358	(65,104)	$ (65,104)	274,288		$ 278,197	(12,374)	$ (12,374)
Balance (ASU 2016-13 [Member]) at Dec. 31, 2021		$ 3,909									$ 3,909
Net income	74,246									74,246
Other comprehensive income (loss)	(61,837)												(61,837)
Restricted stock units issued				290		(290)
Restricted stock units/awards repurchased on vesting to pay taxes	(2,937)			(67)		(2,870)
Amortization of restricted stock awards/units	8,382					8,382
Cash dividends declared on common stock	(3,645)									3,645
Common stock options exercised	292			20		272
Issuance of shares for Employee Stock Purchase Plan	904			20		884
Shares repurchase	(32,722)							(32,722)
Issuance of common stock for acquisition				12		(12)
Exercise of warrants	0			18		(18)
Balance at Dec. 31, 2022	$ 532,980			$ 17,513		$ 338,706		$ (97,826)		$ 348,798			$ (74,211)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Shares outstanding	18,393,888
Common stock options exercised, shares	23,640
Issuance of shares for Employee Stock Purchase Plan, shares	25,023	26,693	56,849
Share repurchase, share	(930,977)	(894,744)
Shares outstanding	17,813,451	18,393,888
Common Stock [Member]
Shares outstanding	18,393,888	18,974,703	18,926,810
Restricted stock units issued, shares	347,623	301,626	170,575
Restricted stock units/awards repurchased on vesting to pay taxes, shares	(80,400)	(76,187)	(43,935)
Cash dividends declared on common stock, per share	$ 0.20	$ 0.20	$ 0.20
Common stock options exercised, shares	23,640	16,640	19,860
Common stock options exercised, used to exercise, shares	1,115	258	2,149
Common stock options exercised, net of shares used to exercise, shares	22,525	16,382	17,711
Issuance of shares for Employee Stock Purchase Plan, shares	25,023	26,693	56,849
Share repurchase, share	(930,977)	(894,744)	(220,222)
Issuance of common stock for acquisition, shares	14,220	23,981	60,384
Exercise of warrants, shares	49,860	60,000	20,000
Exercise of warrants, used to exercise, shares	28,311	38,566	13,469
Exercise of warrants, net of shares used to exercise, shares	21,549	21,434	6,531
Shares outstanding	17,813,451	18,393,888	18,974,703

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Net income		$ 74,246	$ 56,622	$ 26,192
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		3,475	3,190	3,127
Amortization of premium and accretion of discount on securities, net		2,665	5,817	5,009
Amortization of restricted stock		8,382	7,055	6,875
Amortization of intangible assets		1,569	1,598	1,287
Amortization of subordinated debt costs		286	1,003	224
Provision for credit losses	[1]	6,353	6,475	32,400
Swap valuation allowance		673	2,243
Valuation allowance loans held for sale				4,425
Stock-based compensation and employee stock purchase plan expense		145	126	224
Deferred tax (benefit)/expense		(6,641)	9,452	8,225
Fair value adjustment for equity security		1,700	432	(281)
Loss on sale of securities, available for sale, net		6,609
Proceeds from sales of loans held for sale	[2]	98,568	171,342	187,704
Loans originated for sale	[2]	(74,856)	(176,759)	(194,735)
Gain on loans held for sale	[2]	(7,248)	(7,133)	(5,032)
Gain on loans held for sale at lower of cost or fair value			(1,142)	(7,426)
Gain on OREO sold			(51)
Gain on disposal of fixed assets		(275)
Gain on life insurance death benefit		(27)	(455)
Increase in cash surrender value of life insurance, net		(532)	(618)	(681)
(Increase)/decrease in accrued interest receivable		(3,568)	906	(12,001)
Decrease/(increase) in other assets		5,261	(4,866)	(8,096)
Increase/(decrease) in accrued expenses and other liabilities		2,116	226	(10,720)
Net cash provided by operating activities		118,901	75,463	36,720
Investing activities:
Principal repayments, maturities and calls of securities held to maturity		6,286	234
Principal repayments, maturities and calls of securities available for sale		440,668	453,427	217,072
Redemptions for FHLB & FRB stock		33,804	807	39,462
Sales of securities available for sale		118,972
Purchase of securities held to maturity			(108,925)
Purchase of securities available for sale		(420,169)	(653,524)	(448,053)
Purchase of equity securities				(4,000)
Purchase of FHLB & FRB stock		(51,526)	(48)	(29,103)
Proceeds from sale of loans held for sale at lower of cost or fair value			66,086	372,406
Net increase in loans, net of participations sold		(480,862)	(503,747)	(354,544)
Sales of OREO			101
Purchases of premises and equipment		(3,517)	(3,928)	(3,075)
Disposal of premises and equipment		277
Purchase of wealth management company			(5,500)	(4,160)
Proceeds from life insurance death benefit			1,219
Net cash used in investing activities		(356,067)	(753,798)	(213,995)
Financing activities:
Net (decrease)/increase in deposits		(60,985)	447,665	574,973
Net increase/(decrease) in short-term borrowings		379,530		(113,100)
Proceeds from Paycheck Protection Program Liquidity Facility				535,838
Repayments of Paycheck Protection Program Liquidity Facility			(177,086)	(358,752)
Repayments of FHLB advances			(15,000)	(105,000)
Dividends paid on common stock		(3,645)	(3,775)	(3,780)
Exercise of stock options, net of stock swaps		292	187	230
Restricted stock repurchased on vesting to pay taxes		(2,937)	(2,380)	(741)
Proceeds from issuance of subordinated debt				98,153
Repayments of subordinated debt			(50,000)
Issuance of shares for employee stock purchase plan		904	833	1,078
Shares repurchased		(32,722)	(28,627)	(6,487)
Net cash provided by financing activities		280,437	171,817	622,412
Net increase/(decrease) in cash and cash equivalents		43,271	(506,518)	445,137
Cash and cash equivalents at beginning of period		146,804	653,322	208,185
Cash and cash equivalents at end of period		190,075	146,804	653,322
Cash paid during the period for:
Interest		33,158	22,356	38,281
Income tax, net		25,002	16,079	9,786
Transfer of loans to loans held for sale			57,376	367,477
Transfer of loans to other real estate owned		$ 116
Acquisitions (Note 21)
Goodwill			3,109	2,895
Customer relationship & other intangibles			$ 3,500	$ 1,695
[1] Commencing on January 1, 2022, the allowance calculation is based on the CECL methodology. Prior to January 1, 2022 the calculation was based on the incurred loss methodology. Includes mortgage loans originated with the intent to sell which are carried at fair value. In addition, includes the guaranteed portion of SBA loans which are carried at the lower of cost or fair value.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1 . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Organization: The consolidated financial statements of the Company are prepared on the accrual basis and include the accounts of the Company and its wholly-owned subsidiary, Peapack-Gladstone Bank (the “Bank”). The consolidated financial statements also include the Bank’s wholly-owned subsidiaries: • PGB Trust & Investments of Delaware • Peapack Capital Corporation (“PCC”) • Murphy Capital Management ("Murphy Capital") was dissolved into the Bank on July 1, 2022 • Peapack-Gladstone Mortgage Group, Inc. which owns 99 percent of Peapack Ventures, LLC and 79 percent of Peapack-Gladstone Realty, Inc., a New Jersey real estate investment company • PGB Trust & Investments of Delaware owns one percent of Peapack Ventures, LLC • Peapack Ventures, LLC which owns the remaining 21 percent of Peapack-Gladstone Realty, Inc. • PGB Securities, Inc. While the following footnotes include the collective results of the Company, the Bank and their subsidiaries, these footnotes primarily reflect the Bank’s and its subsidiaries’ activities. All significant intercompany balances and transactions have been eliminated from the accompanying consolidated financial statements. Business: The Bank is a commercial bank that provides innovative private banking services to businesses, non-profits and consumers. Wealth management services are also provided through its subsidiary, PGB Trust & Investments of Delaware. The Bank is subject to competition from other financial institutions, is regulated by certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. Basis of Financial Statement Presentation : The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles. In preparing the financial statements, Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses and disclosure of contingent assets and liabilities as of the date of the statement of condition. Actual results could differ from those estimates. Adoption of New Accounting Standards: On January 1, 2022, the Company adopted Accounting Standards Update ("ASU") 2016-13, Financial Instruments - Credit Losses (Topic 326) ("ASU 2016-13"), which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss ("CECL") methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan and lease receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments). In addition, Accounting Standards Codification ("ASC") 326 made changes to the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities Management does not intend to sell or believes that it is more likely than not they will be required to sell. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet commitments. Results for reporting periods beginning after January 1, 2022 are presented under ASC 326 while prior period amounts continue to be reported in accordance with the incurred loss model previously applicable under GAAP. The Company recorded a net increase to retained earnings of $ 3.9 million as of January 1, 2022 for the cumulative effect of adopting ASC 326. The transition adjustment includes a $ 5.5 million reduction to our allowance for credit losses. The lower allowance was in part attributed to historically low charge-offs combined with the shorter duration of the loan portfolio employed in our CECL analysis. Further, the incurred loss method required significant qualitative factors, including factors related to COVID-19, and the use of a multiplier for potential losses on criticized and classified loans, neither of which are included within the CECL methodology. The CECL methodology utilizes significantly less qualitative factors as it uses economic factors and historical losses over a full economic cycle and calculates losses based on discounted cash flows on an individual loan basis. Accordingly, the CECL model quantitatively accounts for some of the qualitative factors utilized in the incurred loss methodology. The following table illustrates the impact to our financial statements as of January 1, 2022 upon adoption of ASC 326: January 1, 2022 (In thousands) Impact to Consolidated Statement of Condition from ASC-326 Adoption Tax Effect Impact to Retained Earnings from ASC-326 Adoption Allowance for credit losses on loans $ 5,536 $ ( 1,490 ) $ 4,046 Allowance for credit losses on off-balance sheet commitments ( 188 ) 51 ( 137 ) Total impact from ASC 326 adoption $ 5,348 $ ( 1,439 ) $ 3,909 Segment Information : The Company’s business is conducted through two business segments: (1) its banking segment (“Banking”), which involves the delivery of loan and deposit products to customers, and (2) Peapack Private, which includes asset management services provided for individuals and institutions. Management uses certain methodologies to allocate income and expense to the business segments. The Banking segment includes: commercial (includes C&I and equipment financing), commercial real estate, multifamily, residential and consumer lending activities; treasury management services; C&I advisory services; escrow management; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support sales. Peapack Private includes: investment management services for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian; and other financial planning and advisory services. This segment also includes the activity from the Delaware subsidiary, PGB Trust and Investments of Delaware. Wealth management fees are primarily earned over time as the Company provides the contracted monthly or quarterly services and are generally assessed based on a tiered scale of the market value of assets under management and/or administration (“AUM”) at month-end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed (i.e. trade date). Cash and Cash Equivalents: For purposes of the statements of cash flows, cash and cash equivalents include cash and due from banks, interest-earning deposits and federal funds sold. Generally, federal funds are sold for one-day periods. Cash equivalents are of original maturities of 90 days or less. Net cash flows are reported for customer loan and deposit transactions and short-term borrowings with original maturities of 90 days or less. Interest-Earning Deposits in Other Financial Institutions : Interest-earning deposits in other financial institutions mature within one year and are carried at cost. Securities : Prior to January 1, 2022, Management evaluated securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market conditions warranted. For securities in an unrealized loss position, Management considered the extent and duration of the unrealized loss and the financial condition and near-term prospects of the issuer. Management also assessed whether it intended to sell, or it is more likely than not that it was required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that did not meet the aforementioned criteria, the amount of impairment was split into two components as follows: (1) other-than-temporary impairment related to credit loss, which would be recognized through the income statement and (2) other-than-temporary impairment related to other factors, which would be recognized in other comprehensive income. Effective January 1, 2022, upon the adoption of ASU 2016-13, debt securities available-for-sale are measured at fair value and subject to impairment testing. When an available-for-sale debt securities is considered impaired, the Company must determine if the decline in fair value has resulted from a credit-related loss or other factors and then, (1) recognize an allowance for credit losses ("ACL") by a charge to earnings for the credit-related component (if any) of the decline in fair value, and (2) recognize in other comprehensive income (loss) any non-credit related components of the fair value change. If the amount of the amortized cost basis expected to be recovered increases in a future period, the valuation reserve would be reduced, but not more than the amount of the current existing reserve for that security. Debt securities are classified as held to maturity and carried at amortized cost when Management has the positive intent and ability to hold them to maturity. Under ASU 2016-13, held-to-maturity securities in a loss position are evaluated to determine if the decline in fair value has resulted from a credit-related loss or other factors and then, recognize an ACL through a charge to earnings for the decline in fair value. The Company also has an investment in a Community Reinvestment Act ("CRA") investment fund, which is classified as an equity security. Interest income includes amortization of purchase premiums and discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated and premiums on callable debt securities, which are amortized to the earliest call date. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock: The Bank is a member of the FHLB system. Members are required to own a certain amount of FHLB stock, based on the level of borrowings and other factors. FHLB stock is carried at cost, classified as a restricted security and periodically evaluated for impairment based on ultimate recovery of par value. Dividends are reported as income. The Bank is also a member of the Federal Reserve Bank of New York and required to own a certain amount of FRB stock. FRB stock is carried at cost and classified as a restricted security. Dividends are reported as income. Loans Held for Sale: Mortgage loans originated with the intent to sell in the secondary market are carried at fair value, as determined by outstanding commitments from investors. Mortgage loans held for sale are generally sold with servicing rights released; therefore, no servicing rights are recorded. Gains and losses on sales of mortgage loans, shown as gain on sale of loans on the Statement of Income, are based on the difference between the selling price and the carrying value of the related loan sold. SBA loans originated with the intent to sell in the secondary market are carried at the lower of cost or fair value. SBA loans are generally sold with the servicing rights retained. Gains and losses on the sale of SBA loans are based on the difference between the selling price and the carrying value of the related loan sold. Total SBA loans serviced totaled $ 152.2 million and $ 97.5 million as of December 31, 2022 and 2021, respectively. SBA loans held for sale totaled $ 17.2 million and $ 32.5 million as of December 31, 2022 and 2021, respectively. The servicing asset recorded was not material. Loans originated with the intent to hold and subsequently transferred to loans held for sale are carried at the lower of cost or fair value. These are loans that the Company no longer has the intent to hold for the foreseeable future. Loans: Loans that Management has the intent and ability to hold for the foreseeable future or until maturity are stated at the principal amount outstanding. Interest on loans is recognized based upon the principal amount outstanding. Loans are stated at face value, less purchased premium and discounts and net deferred fees. Loan origination fees and certain direct loan origination costs are deferred and recognized on a level-yield method, over the life of the loan as an adjustment to the loan’s yield. The definition of recorded investment in loans includes accrued interest receivable and deferred fees/cost, however, for the Company’s loan disclosures, accrued interest and deferred fees/costs was excluded as the impact was not material. Loans are considered past due when they are not paid within 30 days in accordance with contractual terms. The accrual of income on loans, including impaired loans, is discontinued if, in the opinion of Management, principal or interest is not likely to be paid in accordance with the terms of the loan agreement, or when principal or interest is past due 90 days or more. All interest accrued but not received for loans placed on nonaccrual are reversed against interest income. Payments received on nonaccrual loans are recorded as principal payments, but do not diminish the borrower’s obligation. A nonaccrual loan is returned to accrual status only when interest and principal payments are brought current and future payments are reasonably assured, generally after the Bank receives contractual payments for a minimum of six consecutive months. Commercial loans are generally charged off, in whole or in part, after an analysis is completed which indicates that collectability of the full principal balance is in doubt. Consumer loans are generally charged off after they become 120 days past due. Subsequent payments are credited to income only if collection of principal is not in doubt. If principal and interest payments are brought contractually current and future collectability is reasonably assured, loans are returned to accrual status. Nonaccrual mortgage loans are generally charged off when the value of the underlying collateral does not cover the outstanding principal balance. The majority of the Company’s loans are secured by real estate in New Jersey, metropolitan New York and, to a lesser extent, Pennsylvania. Allowance for Credit Losses: On January 1, 2022, the Company adopted ASU 2016-13, Topic 326, which replaced the incurred loss methodology with CECL for financial instruments measured at amortized cost and other commitments to extend credit. CECL requires the immediate recognition of estimated credit losses expected to occur over the estimated remaining life of the asset. The forward-looking concept of CECL requires loss estimates to consider historical experience, current conditions and reasonable and supportable economic forecasts of future events and circumstances. The allowance for credit losses ("ACL") on loans held for investment is the combination of the allowance for loan losses and the reserve for unfunded loan commitments. The allowance for loan losses is reported as a reduction of the amortized cost basis of loans, while the reserve for unfunded loan commitments is included within "other liabilities" on the Consolidated Statements of Condition. The estimate of credit loss incorporates assumptions for both the likelihood and amount of funding over the estimated life of the commitments, including adjustments for current conditions and reasonable and supportable forecasts. Management periodically reviews and updates its assumptions for estimated funding rates. The amortized cost basis of loans does not include accrued interest receivable, which is included in "accrued interest receivable" on the Consolidated Statements of Condition. The "Provision for credit losses" on the Consolidated Statements of Income is a combination of the provision for credit losses and the provision for unfunded loan commitments. Allowance for Loan Losses under incurred methodology prior to CECL Adoption on January 1, 2022 The allowance for loan and lease losses was a valuation allowance for loan losses that was Management’s estimate of probable incurred losses in the loan portfolio. Under this accounting method, the process to determine reserves utilized analytical tools and Management judgment and was reviewed on a quarterly basis. When Management was reasonably certain that a loan balance was not fully collectable, an impairment analysis was completed whereby a specific reserve could be established or a full or partial charge off was recorded against the allowance. Subsequent recoveries, if any, were credited to the allowance. Management estimated the allowance balance required using past loan loss experience, the size and composition of the portfolio, information about specific borrower situations, estimated collateral values, asset quality information, economic conditions and other factors. Allocations of the allowance could be made for specific loans via a specific reserve, but the entire allowance was available for any loan that, in Management’s judgment, should be charged off. The allowance consisted of specific and general components. The specific component of the allowance relates to loans that were individually classified as impaired. A loan was impaired when, based on current information and events, it was probable that the Bank would be unable to collect all amounts due according to the contractual terms of the loan agreement. Factors considered by Management in determining impairment included payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally were not classified as impaired. Management determined the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Loans are individually evaluated for impairment when they were classified as substandard by Management. If a loan was considered impaired, a portion of the allowance could be allocated so that the loan was reported, net, at the present value of estimated future cash flows using the loan’s existing rate or if repayment is expected solely from the underlying collateral, the loan principal balance was compared to the fair value of collateral less estimated disposition costs to determine the need, if any, for a charge off. The general component of the allowance covers non-impaired loans and was based primarily on the Company’s historical loss experience adjusted for current factors. The historical loss experience was determined by portfolio segment and was based on the actual loss history experienced by the Company on a weighted average basis over the previous three years. This actual loss experience was adjusted by other qualitative factors based on the risks present for each portfolio segment. These qualitative factors included consideration of the following: levels of and trends in delinquencies, charge-offs and impaired loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures and practices; experience, ability and depth of lending management and other relevant staffing and experience; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. For loans that are graded as non-impaired, the Company allocated a higher general reserve percentage than pass-rated loans using a multiple that was calculated annually through a migration analysis. At December 31, 2021 and 2020, the multiple was 2.25 times for non-impaired special mention loans and 3.25 times for non-impaired substandard loans. ACL in accordance with CECL methodology With respect to pools of similar loans that are collectively evaluated, an appropriate level of allowance is determined by portfolio segment using a discounted cash flow ("DCF") model. The DCF model captures losses over the historical charge-off and prepayment cycle and applies those losses at a loan level over the remaining maturity of the loan. The model then calculates a historical loss rate using the average losses over the reporting period, which is then applied to each segment utilizing a standard reversion rate. This loss rate is then supplemented with adjustments for reasonable and supportable forecasts of relevant economic indicators, including but not limited to unemployment rates, national gross domestic product and other indices. Forecast data is sourced from Moody's Analytics, a firm widely recognized for its research, analysis, and economic forecasts. Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. Also included in the ACL are qualitative factors based on the risks present for each portfolio segment. These qualitative factors include the following: levels of and trends in delinquencies and impaired loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures and practices; experience, ability and depth of lending management and other relevant staffing and experience; industry conditions; and effects of changes in credit concentrations. It is also possible that these factors could include social, political, economic, and terrorist events or activities. All of these factors are susceptible to change, which may be significant. As a result of this detailed process, the ACL results in two forms of allocations, quantitative and qualitative. These two components represent the total ACL deemed adequate to cover current expected credit losses in the loan portfolio. During the fourth quarter of 2022, the Company transitioned CECL modeling tools. Both the model used for CECL implementation and the new model used beginning in the fourth quarter use a bottom-up allowance methodology and Discounted Cash Flow ("DCF") model based on an analysis of the probability of default ("PD") and loss given default ("LGD") to determine the expected loss by loan segment. This change did not result in a material impact to the Company's financial statements. When management identifies loans that do not share common risk characteristics (i.e., are not similar to other loans within a pool) they are evaluated on an individual basis. These loans are not included in the collective evaluation. For loans identified as having a likelihood of foreclosure or that the borrower is experiencing financial difficulty, a collateral dependent approach is used. These are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral. Under CECL, for collateral dependent loans, the Company has adopted the practical expedient method to measure the allowance for credit losses based on the fair value of collateral. The allowance for credit losses is calculated on an individual loan basis based on the shortfall between the fair value of the loan's collateral, which is adjusted for liquidation costs/discounts, and amortized cost. If the fair value of the collateral exceeds the amortized cost, no allowance is required. The CECL methodology requires a significant amount of management judgment in determining the appropriate allowance for credit losses. Several of the steps in the methodology involve judgment and are subjective in nature including, among other things: segmenting the loan portfolio; determining the amount of loss history to consider; selecting predictive econometric regression models that use appropriate macroeconomic variables; determining the methodology to forecast prepayments; selecting the most appropriate economic forecast scenario; determining the length of the reasonable and supportable forecast and reversion periods; estimating expected utilization rates on unfunded loan commitments; and assessing relevant and appropriate qualitative factors. In addition, the CECL methodology is dependent on economic forecasts, which are inherently imprecise and will change from period to period. Although the allowance for credit losses is considered appropriate, there can be no assurance that it will be sufficient to absorb future losses. In determining an appropriate amount for the allowance, the Bank segments and evaluates the loan portfolio based on Federal call report codes, which are based on collateral or purpose. The following portfolio classes have been identified: Primary Residential Mortgages . The Bank originates one to four family residential mortgage loans in the Tri-State area (New York, New Jersey and Connecticut), Pennsylvania and Florida. Loans are secured by first liens on the primary residence or investment property. Primary risk characteristics associated with residential mortgage loans typically involve major living or lifestyle changes to the borrower, including unemployment or other loss of income; unexpected significant expenses, such as for major medical issues or catastrophic events; and divorce or death. In addition, residential mortgage loans that have adjustable rates could expose the borrower to higher debt service requirements in a rising interest rate environment. Further, real estate values could drop significantly and cause the value of the property to fall below the loan amount, creating additional potential loss exposure for the Bank. Junior Lien Loan on Residence (which include home equity lines of credit) . The Bank provides junior lien loans (“JLL”) and revolving home equity lines of credit against one to four family properties in the Tri-State area. These loans are subordinate to a first mortgage, which may be from another lending institution. Primary risk characteristics associated with JLLs and home equity lines of credit typically involve: major living or lifestyle changes to the borrower, including unemployment or other loss of income; unexpected significant expenses, such as for major medical issues or catastrophic events; and divorce or death. Further, real estate values could drop significantly and cause the value of the property to fall below the loan amount, creating additional potential loss exposure for the Bank. In addition, home equity lines of credit typically are made with variable or floating interest rates, which could expose the borrower to higher debt service requirements in a rising interest rate environment. Multifamily. The Bank provides mortgage loans for multifamily properties (i.e., buildings which have five or more residential units). Multifamily loans are expected to be repaid from the cash flows of the underlying property so the collective amount of rents must be sufficient to cover all operating expenses, property management and maintenance, taxes and debt service. Increases in vacancy rates, interest rates of other changes in general economic conditions can have an impact on the borrower and its ability to repay the loan. Owner-Occupied Commercial Real Estate Loans . The Bank provides mortgage loans for owner-occupied commercial real estate properties in the Tri-State area and Pennsylvania. Commercial real estate properties primarily include retail buildings/shopping centers, hotels, office/medical buildings and industrial/warehouse space. Some properties are mixed use. Commercial real estate loans are generally considered to have a higher degree of credit risk as they may be dependent on the ongoing success and operating viability of a fewer number of tenants who are occupying the property and who may have a greater degree of exposure to economic conditions. Investment Commercial Real Estate Loans. The Bank provides mortgage loans for properties managed as an investment property (non-owner-occupied) in the Tri-State area and Pennsylvania. Non-owner-occupied properties primarily include retail buildings/shopping centers, hotels, office/medical buildings and industrial/warehouse space. Some properties are considered "mixed use" as they are a combination of building types, such as a building with retail space on the ground floor and either residential apartments or office suites on the upper floors. Commercial real estate loans are generally considered to have a higher degree of credit risk as they may be dependent on the ongoing success and operating viability of a fewer number of tenants who are occupying the property and who may have a greater degree of exposure to economic conditions. Commercial and Industrial Loans . The Bank provides lines of credit and term loans to operating companies for business purposes. The loans are generally secured by business assets such as accounts receivable, inventory, business vehicles and equipment as well as the stock of the company, if privately held. Commercial and industrial loans are typically repaid first by the cash flows generated by the borrower’s business operation. The primary risk characteristics are specific to the underlying business and its ability to generate sustainable profitability and resulting positive cash flows. Factors that may influence a business’ profitability include, but are not limited to, demand for its products or services, quality and depth of management, degree of competition, regulatory changes, and general economic conditions. To mitigate the risk characteristics of commercial and industrial loans, these loans often include commercial real estate as collateral and the Bank often requires more frequent reporting requirements from the borrower in order to better monitor its business performance. However, the ability of the Bank to foreclose and realize sufficient value from the assets is often highly uncertain. Leasing Finance . PCC offers a range of finance solutions nationally. PCC provides term loans and leases secured by assets financed for U.S. based mid-size and large companies. Facilities tend to be fully drawn under fixed rate terms. PCC serves a broad range of industries including transportation, manufacturing, heavy construction and utilities. Asset risk in PCC’s portfolio is generally recognized through changes to loan income, or through changes to lease related income streams due to fluctuations in lease rates. Changes to lease income can occur when the existing lease contract expires, the asset comes off lease or the business seeks to enter a new lease agreement. Asset risk may also change depreciation, resulting from changes in the residual value of the operating lease asset or through impairment of the asset carrying value, which can occur at any time during the life of the asset. Credit risk in PCC’s portfolio generally results from the potential default of borrowers or lessees, which may be driven by customer specific or broader industry related conditions. Credit losses can impact multiple parts of the income statement including loss of interest/lease/rental income and/or higher costs and expenses related to the repossession, refurbishment, re-marketing and or re-leasing of assets. Construction. The Bank provides commercial construction loans for properties located in the Tri-state area. Risks common to commercial construction loans are cost overruns, changes in market demand for property, inadequate long-term financing arrangements and declines in real estate values. Changes in market demand for property could lead to longer marketing times resulting in higher carrying costs, declining values, and higher interest rates. Consumer and Other . These are loans to individuals for household, family and other personal expenditures as well as obligations of states and political subdivisions in the U.S. This also represents all other loans that cannot be categorized in any of the previous mentioned loan segments. Consumer loans generally have higher interest rates and shorter terms than residential loans but tend to have higher credit risk due to the type of collateral securing the loan or in some cases the absence of collateral. A troubled debt restructuring (“TDR”) is a type of loan modification in which the Bank, for legal, economic or business reasons related to a borrower’s financial difficulties, grants a concession to

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2022
Investment Securities Available For Sale [Abstract]
INVESTMENT SECURITIES	2. INVESTMENT SECURITIES A summary of amortized cost and approximate fair value of investment securities available for sale and held to maturity included in the consolidated statements of condition as of December 31, 2022 and 2021 follows: 2022 Gross Gross Allowance Amortized Unrealized Unrealized For Credit Fair (In thousands) Cost Gains Losses Losses Value Securities Available for Sale: U.S. government-sponsored agencies $ 244,774 $ — $ ( 54,232 ) $ — $ 190,542 Mortgage-backed securities-residential 372,471 27 ( 46,760 ) — 325,738 SBA pool securities 31,934 1 ( 4,508 ) — 27,427 State and political subdivisions 1,866 — ( 17 ) — 1,849 Corporate bond 10,000 — ( 908 ) — 9,092 Total securities available for sale $ 661,045 $ 28 $ ( 106,425 ) $ — $ 554,648 Securities Held to Maturity: U.S. government-sponsored agencies $ 40,000 $ — $ ( 4,563 ) $ — $ 35,437 Mortgage-backed securities-residential 62,291 — ( 10,541 ) — 51,750 Total securities held to maturity $ 102,291 $ — $ ( 15,104 ) $ — $ 87,187 2021 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Securities Available for Sale: U.S. government-sponsored agencies $ 280,045 $ — $ ( 7,824 ) $ 272,221 Mortgage-backed securities-residential 481,062 3,849 ( 7,937 ) 476,974 SBA pool securities 40,649 12 ( 1,100 ) 39,561 State and political subdivisions 5,431 45 — 5,476 Corporate bond 2,500 21 — 2,521 Total securities available for sale $ 809,687 $ 3,927 $ ( 16,861 ) $ 796,753 Securities Held to Maturity: U.S. government-sponsored agencies $ 40,000 $ 7 $ ( 25 ) $ 39,982 Mortgage-backed securities-residential 68,680 67 ( 269 ) 68,478 Total securities held to maturity $ 108,680 $ 74 $ ( 294 ) $ 108,460 The amortized cost and fair value of investment securities available for sale and held to maturity as of December 31, 2022, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity, such as mortgage-backed securities and SBA pool securities are shown separately. (In thousands) Available for Sale Held to Maturity Maturing in: Amortized Cost Fair Value Amortized Cost Fair Value One year or less $ 1,866 $ 1,849 $ — $ — After one year through five years — — 30,000 26,771 After five years through ten years 149,996 122,413 10,000 8,666 After ten years 104,778 77,221 — — 256,640 201,483 40,000 35,437 Mortgage-backed securities-residential 372,471 325,738 62,291 51,750 SBA pool securities 31,934 27,427 — — Total $ 661,045 $ 554,648 $ 102,291 $ 87,187 Securities available for sale with a fair value of $ 453.7 million and $ 764.4 million as of December 31, 2022 and December 31, 2021, respectively, were pledged, but not necessarily encumbered, to secure public funds and for other purposes required or permitted by law. In addition, securities held to maturity with a carrying value of $ 102.3 million and $ 108.7 million were also pledged as of December 31, 2022 and December 31, 2021, respectively, for the same purposes. The following is a summary of gross gains, gross losses and net tax benefit related to proceeds on sales of securities available for sale for the years ended December 31: (In thousands) 2022 2021 2020 Proceeds on sales $ 118,972 $ — $ — Gross gains 3 — — Gross losses ( 6,612 ) — — Net tax benefit 1,581 — — The following table presents the Company’s available for sale and held to maturity securities with continuous unrealized losses and the approximate fair value of these investments as of December 31, 2022 and 2021. 2022 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities Available for Sale: U.S. government- $ — $ — $ 190,542 $ ( 54,232 ) $ 190,542 $ ( 54,232 ) Mortgage-backed 82,907 ( 4,082 ) 174,557 ( 42,678 ) 257,464 ( 46,760 ) SBA pool securities 3,377 ( 332 ) 23,256 ( 4,176 ) 26,633 ( 4,508 ) State and political subdivisions 1,579 ( 17 ) — — 1,579 ( 17 ) Corporate bond 9,092 ( 908 ) — — 9,092 ( 908 ) Total securities available for sale $ 96,955 $ ( 5,339 ) $ 388,355 $ ( 101,086 ) $ 485,310 $ ( 106,425 ) Securities Held to Maturity: U.S. government- $ 13,174 $ ( 1,826 ) $ 22,263 $ ( 2,737 ) $ 35,437 $ ( 4,563 ) Mortgage-backed 15,635 ( 3,585 ) 36,115 ( 6,956 ) 51,750 ( 10,541 ) Total securities held to maturity $ 28,809 $ ( 5,411 ) $ 58,378 $ ( 9,693 ) $ 87,187 $ ( 15,104 ) Total securities $ 125,764 $ ( 10,750 ) $ 446,733 $ ( 110,779 ) $ 572,497 $ ( 121,529 ) 2021 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities Available for Sale: U.S. government- $ 243,187 $ ( 6,858 ) $ 29,034 $ ( 966 ) $ 272,221 $ ( 7,824 ) Mortgage-backed 265,403 ( 7,053 ) 33,455 ( 884 ) 298,858 ( 7,937 ) SBA pool securities 22,057 ( 567 ) 10,562 ( 533 ) 32,619 ( 1,100 ) Total securities available for sale $ 530,647 $ ( 14,478 ) $ 73,051 $ ( 2,383 ) $ 603,698 $ ( 16,861 ) Securities Held to Maturity: U.S. government- $ 24,975 $ ( 25 ) $ — $ — $ 24,975 $ ( 25 ) Mortgage-backed 48,307 ( 269 ) — — 48,307 ( 269 ) Total securities held to maturity $ 73,282 $ ( 294 ) $ — $ — $ 73,282 $ ( 294 ) Total securities $ 603,929 $ ( 14,772 ) $ 73,051 $ ( 2,383 ) $ 676,980 $ ( 17,155 ) Available for sale and held to maturity securities are evaluated to determine if a decline in fair value below the amortized cost basis has resulted from a credit loss or other factors. An impairment related to credit factors would be recorded through an allowance for credit losses. The allowance is limited to the amount by which the security's amortized cost basis exceeds the fair value. An impairment that has not been recorded through an allowance for credit losses shall be recorded through other comprehensive income, net of applicable taxes. Investment securities will be written down to fair value through the Consolidated Statements of Income when management intends to sell, or may be required to sell, the securities before they recover in value. The issuers of securities currently in a continuous loss position continue to make timely principal and interest payments and none of these securities were past due or were placed in nonaccrual status at December 31, 2022. Primarily all of the investment securities are backed by loans guaranteed by either U.S. government agencies or U.S. government-sponsored entities, and management believes that default is highly unlikely given the lack of historical credit losses and governmental backing. Management believes that the unrealized losses on these securities are a function of changes in market interest rates and credit spreads, not changes in credit quality. Therefore, no allowance for credit losses was recorded at December 31, 2022. No other-than-temporary impairment charges were recognized in 2022, 2021 or 2020. The Company has an investment in a CRA investment fund with a fair value of $ 13.0 million and $ 14.7 million at December 31, 2022 and 2021, respectively. The investment is classified as an equity security in our Consolidated Statements of Condition. This security had losses of $ 1.7 million and $ 432,000 for the years ended December 31, 2022 and December 31, 2021, respectively, and a gain of $ 281,000 for the year ended December 31, 2020. This amount is included in the fair value adjustment for CRA equity security on the Consolidated Statements of Income.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
LOANS	3. LOANS The following table presents loans outstanding, by type of loan, as of December 31: % of Total % of Total (Dollars in thousands) 2022 Loans 2021 Loans Residential mortgage $ 525,756 9.95 % $ 498,300 10.37 % Multifamily mortgage 1,863,915 35.27 1,595,866 33.20 Commercial mortgage 624,625 11.82 662,626 13.78 Commercial loans (including equipment financing) 2,194,094 41.51 1,955,157 40.67 Commercial construction 4,042 0.07 20,044 0.42 Home equity lines of credit 34,496 0.65 40,803 0.85 Consumer loans, including 38,014 0.72 33,687 0.70 Other loans 304 0.01 238 0.01 Total loans $ 5,285,246 100.00 % $ 4,806,721 100.00 % In determining an appropriate amount for the allowance, the Bank segments and aggregated the loan portfolio based on common characteristics. The following pool segments identified as of December 31, 2022 are based on the CECL methodology: % of Total (Dollars in thousands) 2022 Loans Primary residential mortgage $ 527,784 9.99 % Junior lien loan on residence 38,265 0.73 Multifamily property 1,863,915 35.29 Owner-occupied commercial real estate 272,009 5.15 Investment commercial real estate 1,044,125 19.77 Commercial and industrial 1,194,662 22.62 Lease financing 288,566 5.46 Construction 9,936 0.19 Consumer and other 42,319 0.80 Total loans $ 5,281,581 100.00 % Net deferred costs 3,665 Total loans including net deferred costs $ 5,285,246 The portfolio classes identified as of December 31, 2021 are based on the incurred loss methodology and are segmented by federal Call Report codes: % of Total (Dollars in thousands) 2021 Loans Primary residential mortgage $ 500,243 10.42 % Home equity lines of credit 40,803 0.85 Junior lien loan on residence 3,191 0.07 Multifamily property 1,595,866 33.23 Owner-occupied commercial real estate 252,603 5.26 Investment commercial real estate 1,003,979 20.90 Commercial and industrial (A) 992,332 20.66 Lease financing 345,868 7.20 Farmland/Agricultural production 6,871 0.14 Commercial construction 20,174 0.42 Consumer and other 40,828 0.85 Total loans $ 4,802,758 100.00 % Net deferred costs 3,963 Total loans including net deferred costs $ 4,806,721 The Company sold loans issued under the PPP totaling $ 56.5 million during 2021 resulting in a gain on sale of loans of $ 1.1 million. In addition, the Company sold problem loans totaling $ 6.7 million resulting in a gain on sale of loans of $ 282,000 and residential loans totaling $ 12.2 million resulting in a gain on sale of loans of $ 362,000 . The Company sold loans issued under the PPP totaling $ 355.0 million during 2020 resulting in a gain on sale of loans of $ 7.4 million. The Company, through the Bank, may extend credit to officers, directors and their associates. These loans are subject to the Company’s normal lending policy and Federal Reserve Bank Regulation O. The following table shows the changes in loans to officers, directors and their associates: (In thousands) 2022 2021 Balance, beginning of year $ 4,337 $ 3,801 New loans 448 845 Repayments ( 305 ) ( 309 ) Balance, at end of year $ 4,480 $ 4,337 The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2022 and 2021: 2022 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 2,339 $ — Junior lien loan on residence — — Owner-occupied commercial real estate — — Investment commercial real estate 11,208 — Commercial and industrial 3,662 — Lease financing 1,765 Total $ 18,974 $ — 2021 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 1,851 $ — Junior lien loan on residence 18 — Owner-occupied commercial real estate 458 — Investment commercial real estate 12,750 — Commercial and industrial 496 — Total $ 15,573 $ — The following tables present the recorded investment in past due loans as of December 31, 2022 and 2021 by class of loans, excluding nonaccrual loans: 2022 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 1,145 $ — $ — $ 1,145 Multifamily property 882 — — 882 Commercial and industrial 4,884 681 — 5,565 Total $ 6,911 $ 681 $ — $ 7,592 2021 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 639 $ — $ — $ 639 Commercial and industrial 7,825 142 — 7,967 Total $ 8,464 $ 142 $ — $ 8,606 Credit Quality Indicators: The Bank places all commercial loans into various credit risk rating categories based on an assessment of the expected ability of the borrowers to properly service their debt. The assessment considers numerous factors including, but not limited to, current financial information on the borrower, historical payment experience, strength of any guarantor, nature of and value of any collateral, acceptability of the loan structure and documentation, relevant public information and current economic trends. This credit risk rating analysis is performed when the loan is initially underwritten and then annually based on set criteria in the loan policy. In addition, the Bank has engaged an independent loan review firm to validate risk ratings and to ensure compliance with our policies and procedures. This review of the following types of loans is performed quarterly: • A large sample of relationships or new lending to existing relationships greater than $ 1,000,000 originated since the prior review; • All criticized and classified rated borrowers with relationship exposure of more than $ 500,000 ; • A large sample of Pass-rated (including Pass Watch) borrowers with total relationships in excess of $ 1,000,000 and a small sample of Pass related relationships less than $ 1,000,000 ; • All leveraged loans of $ 1,000,000 or greater; • At least two borrowing relationships managed by each commercial banker; • Any new Regulation “O” loan commitments over $ 1,000,000 ; and • Any other credits requested by Bank senior management or a member of the Board of Directors and any borrower for which the reviewer determines a review is warranted based upon knowledge of the portfolio, local events, industry stresses, etc. The review excludes borrowers with commitments of less than $ 500,000 . The Bank uses the following regulatory definitions for criticized and classified risk ratings: Special Mention: These loans have a potential weakness that deserves Management’s close attention. If left uncorrected, the potential weaknesses may result in deterioration of the repayment prospects for the loans or of the institution’s credit position at some future date. Substandard: These loans are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: These loans have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, based on currently existing facts, conditions and values. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-rated loans. With the adoption of CECL, loans that are in the process of or expected to be in foreclosure are deemed to be collateral dependent with respect to measuring potential loss and allowance adequacy and are individually evaluated by Management. Loans that do not share common risk characteristics are also evaluated on an individual basis. All other loans are evaluated using a linear discounted cashflow methodology for measuring potential loss and allowance adequacy. The following is a summary of the credit risk profile of loans by internally assigned grade as of December 31, 2022 based on originations for the periods indicated; the years represent the year of origination for non-revolving loans: Grade as of December 31, 2022 for Loans Originated During 2017 Revolving- (In thousands) 2022 2021 2020 2019 2018 and Prior Revolving Term Total Primary residential mortgage: Pass $ 118,864 $ 87,312 $ 62,540 $ 37,902 $ 27,209 $ 190,834 $ — $ 691 $ 525,352 Special mention — — — — — — — — — Substandard — — 547 1,044 141 700 — — 2,432 Doubtful — — — — — — — — — Total primary residential mortgages 118,864 87,312 63,087 38,946 27,350 191,534 — 691 527,784 Junior lien loan on residence: Pass 1,631 177 42 639 326 953 33,996 — 37,764 Special mention — — — — — — — — — Substandard — — — — — — 501 — 501 Doubtful — — — — — — — — — Total junior lien loan on residence 1,631 177 42 639 326 953 34,497 — 38,265 Multifamily property: Pass 488,657 678,507 118,220 224,129 33,884 305,628 1,246 1,425 1,851,696 Special mention — — — — — 1,696 — — 1,696 Substandard — — — 2,846 — 7,677 — — 10,523 Doubtful — — — — — — — — — Total multifamily property 488,657 678,507 118,220 226,975 33,884 315,001 1,246 1,425 1,863,915 Owner-occupied commercial real estate: Pass 25,315 43,916 20,679 12,244 22,422 126,237 608 20,588 272,009 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total owner-occupied commercial real estate 25,315 43,916 20,679 12,244 22,422 126,237 608 20,588 272,009 Investment commercial real estate: Pass 189,829 154,715 59,444 155,995 93,330 305,219 6,590 23,487 988,609 Special mention — — — 13,015 — 13,309 — 14,507 40,831 Substandard 11,208 — — 3,477 — — — — 14,685 Doubtful — — — — — — — — — Total investment commercial real estate 201,037 154,715 59,444 172,487 93,330 318,528 6,590 37,994 1,044,125 Commercial and industrial: Pass 421,072 217,887 76,307 80,359 26,792 5,559 303,526 29,750 1,161,252 Special mention 14,405 — 826 — 193 — 258 — 15,682 Substandard 1,553 1,892 2,148 3,894 277 71 7,893 — 17,728 Doubtful — — — — — — — — — Total commercial and industrial 437,030 219,779 79,281 84,253 27,262 5,630 311,677 29,750 1,194,662 Lease financing: Pass 73,155 71,925 58,262 48,942 24,408 8,125 — — 284,817 Special mention 1,984 — — — — — — — 1,984 Substandard — — — 1,765 — — — — 1,765 Doubtful — — — — — — — — — Total lease financing 75,139 71,925 58,262 50,707 24,408 8,125 — — 288,566 Construction loans: Pass — — — 1,439 — — 4,064 4,433 9,936 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total commercial construction loans — — — 1,439 — — 4,064 4,433 9,936 Consumer and other loans: Pass — 381 194 — — 5,753 31,287 4,704 42,319 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total consumer and other loans — 381 194 — — 5,753 31,287 4,704 42,319 Total: Pass 1,318,523 1,254,820 395,688 561,649 228,371 948,308 381,317 85,078 5,173,754 Special mention 16,389 — 826 13,015 193 15,005 258 14,507 60,193 Substandard 12,761 1,892 2,695 13,026 418 8,448 8,394 — 47,634 Doubtful — — — — — — — — — Total Loans $ 1,347,673 $ 1,256,712 $ 399,209 $ 587,690 $ 228,982 $ 971,761 $ 389,969 $ 99,585 $ 5,281,581 The table below presents, based on the most recent analysis performed, the risk category of loans by class of loans for December 31, 2021. 2021 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 494,444 $ 557 $ 5,242 $ — Home equity lines of credit 40,274 — 529 — Junior lien loan on residence 3,173 — 18 — Multifamily property 1,579,776 7,720 8,370 — Owner-occupied commercial real estate 251,229 663 711 — Investment commercial real estate 901,877 87,297 14,805 — Commercial and industrial 951,127 20,178 21,027 — Lease financing 345,868 — — — Secured by farmland and agricultural 6,871 — — — Commercial construction 20,099 75 — — Consumer and other loans 40,828 — — — Total $ 4,635,566 $ 116,490 $ 50,702 $ — At December 31, 2022, $ 14.7 million of substandard loans were individually evaluated as compared to $ 15.7 million at December 31, 2021. Loan Modifications: The CARES Act allowed financial institutions to suspend application of certain current TDR accounting guidance under ASC 310-40 for loan modifications related to the COVID-19 pandemic made prior to December 31, 2020 or 60 days after the end of the COVID-19 national emergency, provided certain criteria are met. The revised CARES Act extended TDR relief to loan modifications through January 1, 2022. This relief could be applied to loan modifications for borrowers that were not more than 30 days past due as of December 31, 2019 and to loan modifications that deferred or delayed the payment of principal or interest or changed the interest rate on the loan. In April 2020, federal and state banking regulators issued the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus to provide further interpretation of when a borrower is experiencing financial difficulty, specifically indicating that if the modification is either short-term (e.g., six months) or mandated by a federal or state government in response to the COVID-19 pandemic, the borrower is not experiencing financial difficulty under ASC 310-40. As of December 31, 2022, the Bank had modified 542 loans with a balance of $ 947.0 million resulting in the deferral of principal and/or interest. There are no outstanding deferrals as of December 31, 2022. Troubled Debt Restructurings: The Company allocated $ 1.2 million of specific reserves to customers whose loan terms had been modified in troubled debt restructurings as of December 31, 2022. The Company did no t allocate specific reserves to customers whose loan terms had been modified in troubled debt restructurings as of December 31, 2021. During the years ended December 31, 2022, 2021 and 2020, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; or an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk. The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2022: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Loans Investment Investment Investment commercial real estate 1 $ 11,208 $ 11,208 Total 1 $ 11,208 $ 11,208 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2021: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Loans Investment Investment Primary residential mortgage 3 $ 603 $ 603 Junior lien loan on residence 1 18 18 Commercial and industrial 1 2,070 2,070 Total 5 $ 2,691 $ 2,691 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2020: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Loans Investment Investment Primary residential mortgage 3 $ 423 $ 423 Commercial and industrial 1 39 39 Total 4 $ 462 $ 462 The identification of the troubled debt restructured loans did not have a significant impact on the allowance for credit losses. In addition, there were no charge-offs as a result of the classification of these loans as troubled debt restructurings during the years ended December 31, 2022, 2021 or 2020. There were no payment defaults on loans that were modified as troubled debt restructurings during the year ended December 31, 2022. The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2021 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Loans Investment Primary residential mortgage 1 $ 218 Total 1 $ 218 The following table presents loans by class modified as trouble debt restructurings during the year ended December 31, 2020 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Loans Investment Primary residential mortgage 1 $ 133 Commercial and industrial 1 $ 39 Total 2 $ 172 The defaults described above did not have a material impact on the allowance for credit losses or provisions during 2022, 2021 and 2020. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. The modification of the terms of such loans may include one or more of the following: (1) a reduction of the stated interest rate of the loan to a rate that is lower than the current market rate for new debt with similar risk; (2) an extension of an interest only period for a predetermined period of time; (3) an extension of the maturity date; or (4) an extension of the amortization period over which future payments will be computed. At the time a loan is restructured, the Bank performs an underwriting analysis, which includes, at a minimum, obtaining current financial statements and tax returns, copies of all leases, and an updated independent appraisal of the property. A loan will continue to accrue interest if it can be reasonably determined that the borrower should be able to perform under the modified terms, that the loan has not been chronically delinquent (both to debt service and real estate taxes) or in nonaccrual status since its inception, and that there have been no charge-offs on the loan. Restructured loans with previous charge-offs would not accrue interest at the time of the troubled debt restructuring. At a minimum, six consecutive months of contractual payments would need to be made on a restructured loan before returning it to accrual status. Once a loan is classified as a TDR, the loan is reported as a TDR until the loan is paid in full, sold or charged-off. In rare circumstances, a loan may be removed from TDR status, if it meets the requirements of ASC 310-40-50-2.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	12 Months Ended
	Dec. 31, 2022
Credit Loss [Abstract]
ALLOWANCE FOR CREDIT LOSSES	4. ALLOWANCE FOR CREDIT LOSSES On January 1, 2022, the Company adopted ASU 2016-13, which replaced the incurred loss methodology with an expected loss methodology that is referred to as the CECL methodology. See Note 1, Summary of Significant Accounting Policies for additional information on Topic 326. The Company does not estimate expected credit losses on accrued interest receivable ("AIR") on loans, as AIR is reversed or written off when the full collection of the AIR related to a loan becomes doubtful. AIR on loans totaled $ 22.8 million at December 31, 2022 and $ 19.1 million at December 31, 2021. The following table presents the loan balances by segment, and the corresponding balances in the allowance as of December 31, 2022. For the period ended December 31, 2022, the allowance was based on the CECL methodology. December 31, 2022 Ending ACL Ending Attributable ACL Total To Total Attributable Individually Individually Loans To Loans Total Evaluated Evaluated Collectively Collectively Total Ending (In thousands) Loans Loans Evaluated Evaluated Loans ACL Primary residential mortgage $ 374 $ — $ 527,410 $ 2,894 $ 527,784 $ 2,894 Junior lien loan on residence — — 38,265 154 38,265 154 Multifamily property — — 1,863,915 8,849 1,863,915 8,849 Owner-occupied commercial — — 272,009 4,835 272,009 4,835 Investment commercial real 11,208 1,208 1,032,917 14,272 1,044,125 15,480 Commercial and industrial 3,385 299 1,191,277 25,231 1,194,662 25,530 Lease financing 1,765 — 286,801 2,314 288,566 2,314 Construction — — 9,936 236 9,936 236 Consumer and other — — 42,319 537 42,319 537 Total ACL $ 16,732 $ 1,507 $ 5,264,849 $ 59,322 $ 5,281,581 $ 60,829 The following table presents the loan balances by portfolio class, based on impairment method, and the corresponding balances in the allowances as of December 31, 2021. For the year ended December 31, 2021, the allowance was calculated based on the incurred loss methodology: December 31, 2021 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 2,242 $ — $ 498,001 $ 1,432 $ 500,243 $ 1,432 Home equity lines of credit — — 40,803 83 40,803 83 Junior lien loan on residence 18 — 3,173 5 3,191 5 Multifamily property — — 1,595,866 9,806 1,595,866 9,806 Owner-occupied commercial 458 — 252,145 1,998 252,603 1,998 Investment commercial real 12,750 4,234 991,229 22,849 1,003,979 27,083 Commercial and industrial 2,584 — 989,748 17,509 992,332 17,509 Lease financing — — 345,868 3,440 345,868 3,440 Secured by farmland and — — 6,871 84 6,871 84 Commercial construction — — 20,174 42 20,174 42 Consumer and other — — 40,828 215 40,828 215 Total ALLL $ 18,052 $ 4,234 $ 4,784,706 $ 57,463 $ 4,802,758 $ 61,697 Individually evaluated loans include nonaccrual loans of $ 15.8 million at December 31, 2022 and $ 15.6 million at December 31, 2021. Individually evaluated loans included $ 150,000 of performing TDR loans at December 31, 2022 and included $ 2.5 million of performing TDR loans at December 31, 2021. The allowance allocated to TDR loans totaled $ 1.2 million at December 31, 2022, of which all was allocated to one nonaccrual loan. At December 31, 2021, there was no allowance allocated to TDR loans. All accruing TDR loans were paying in accordance with restructured terms as of December 31, 2022. The Company has not committed to lend additional amounts as of December 31, 2022 to customers with outstanding loans that are classified as TDR loans. The allowance for credit losses was $ 60.8 million as of December 31, 2022, compared to $ 61.7 million at December 31, 2021. The decline in the allowance for credit losses ("ACL") was primarily due to the Day 1 reduction of $ 5.5 million incurred in connection with the implementation of CECL on January 1, 2022 and net charge-offs of $ 1.2 million partially offset by the 2022 provision for credit losses of $ 6.4 million, which included a provision for off-balance sheet commitments of $ 450,000 . The allowance for credit losses as a percentage of loans was 1.15 percent and 1.28 percent at December 31, 2022 and 2021, respectively. The allowance for credit loss ratio declined due to the Day 1 reduction and a 2022 provision for credit losses based on 2022 loan growth in lower risk segments that carry lower ACL coverage. Under Topic 326, the Company's methodology for determining the ACL on loans is based upon key assumptions, including historic net charge-off factors, economic forecasts, reversion periods, prepayments and qualitative adjustments. The allowance is measured on a collective, or pool, basis when similar risk characteristics exist. Loans that do not share common risk characteristics are evaluated on an individual basis and are excluded from the collective evaluation. The following tables present collateral dependent loans individually evaluated by segment as of December 31, 2022: December 31, 2022 Average Unpaid Individually Principal Recorded Related Evaluated (In thousands) Balance Investment Allowance Loans With no related allowance recorded: Primary residential mortgage $ 415 $ 374 $ — $ 249 Commercial and industrial 3,868 1,836 — 539 Lease financing 1,792 1,765 — 444 Total loans with no related allowance $ 6,075 $ 3,975 $ — $ 1,232 With related allowance recorded: Investment commercial real estate $ 12,500 $ 11,208 $ 1,208 $ 12,402 Commercial and industrial 1,555 1,549 299 174 Total loans with related allowance $ 14,055 $ 12,757 $ 1,507 $ 12,576 Total loans individually evaluated for impairment $ 20,130 $ 16,732 $ 1,507 $ 13,808 The following table presents, under previously applicable GAAP, loans individually evaluated for impairment as of December 31, 2021 (the average impaired loans on the following table represent year to date impaired loans): December 31, 2021 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 2,453 $ 2,242 $ — $ 1,818 Owner-occupied commercial real estate 492 458 — 540 Junior lien loan on residence 18 18 — 3 Commercial and industrial 4,549 2,584 — 3,153 Total loans with no related allowance $ 7,512 $ 5,302 $ — $ 5,514 With related allowance recorded: Investment commercial real estate $ 19,887 $ 12,750 $ 4,234 $ 6,034 Total loans with related allowance $ 19,887 $ 12,750 $ 4,234 $ 6,034 Total loans individually evaluated for impairment $ 27,399 $ 18,052 $ 4,234 $ 11,548 Interest income recognized on individually evaluated loans for the twelve months ended December 31, 2022 and 2021 was not material. The Company did not recognize any income on non-accruing impaired loans for the twelve months ended December 31, 2022 and 2021. The activity in the allowance for credit losses for the year ended December 31, 2022 is summarized below: December 31, 2021 Prior to December 31, Adoption Impact of 2022 of Adopting Charge- Provision/ Ending (In thousands) Topic 326 Topic 326 Offs Recoveries (Credit)(1) ACL Primary residential mortgage $ 1,510 $ 717 $ — $ 15 $ 652 $ 2,894 Junior lien loan on residence 88 83 ( 3 ) — ( 14 ) 154 Multifamily property 9,806 4,072 — — ( 5,029 ) 8,849 Owner-occupied commercial real estate 1,998 2,902 — — ( 65 ) 4,835 Investment commercial real estate 27,083 ( 13,589 ) ( 1,450 ) — 3,436 15,480 Commercial and industrial 17,509 ( 657 ) — 254 8,424 25,530 Lease financing 3,440 156 — — ( 1,282 ) 2,314 Commercial construction 48 361 — — ( 173 ) 236 Consumer and other 215 419 ( 53 ) 2 ( 46 ) 537 Total ACL $ 61,697 $ ( 5,536 ) $ ( 1,506 ) $ 271 $ 5,903 $ 60,829 (1) Provision to roll forward the ACL excludes a provision of $ 450,000 for off-balance sheet commitments. For the accounting policy on the allowance for loan losses that was in effect prior to the adoption of Topic 326, refer to Note 1, Summary of Significant Accounting Policies in our Annual Report on Form 10-K for the year-ended December 31, 2021. The activity in the allowance for loan and lease losses for the years ended December 31, 2021 and 2020 is summarized below: January 1, December 31, 2021 2021 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,905 $ ( 12 ) $ — $ ( 1,461 ) $ 1,432 Home equity lines of credit 218 — 85 ( 220 ) 83 Junior lien loan on residence 15 — — ( 10 ) 5 Multifamily property 9,945 — — ( 139 ) 9,806 Owner-occupied commercial real estate 3,050 — — ( 1,052 ) 1,998 Investment commercial real estate 27,713 ( 7,137 ) — 6,507 27,083 Commercial and industrial 19,047 ( 5,019 ) 66 3,415 17,509 Lease financing 3,936 — — ( 496 ) 3,440 Secured by farmland and agricultural 43 — — 41 84 Commercial construction 158 — — ( 116 ) 42 Consumer and other 279 ( 80 ) 10 6 215 Total ALLL $ 67,309 $ ( 12,248 ) $ 161 $ 6,475 $ 61,697 January 1, December 31, 2020 2020 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,090 $ ( 559 ) $ 373 $ 1,001 $ 2,905 Home equity lines of credit 128 — 11 79 218 Junior lien loan on residence 13 — — 2 15 Multifamily property 6,037 ( 56 ) — 3,964 9,945 Owner-occupied commercial real estate 2,064 ( 51 ) — 1,037 3,050 Investment commercial real estate 15,988 ( 6,092 ) 31 17,786 27,713 Commercial and industrial 14,353 ( 2,418 ) 17 7,095 19,047 Lease financing 2,642 — — 1,294 3,936 Secured by farmland and agricultural 38 — — 5 43 Commercial construction 27 — — 131 158 Consumer and other 296 ( 27 ) 4 6 279 Total ALLL $ 43,676 $ ( 9,203 ) $ 436 $ 32,400 $ 67,309 Allowance for Credit Losses on Off Balance Sheet Commitments The following table presents the activity in the ACL for off balance sheet commitments for the year ended December 31,2022: December 31, 2021 December 31, Prior to Adoption Impact of Provision 2022 (In thousands) of Topic 326 Adopting Topic 326 (Credit) Ending ACL Off balance sheet commitments $ — $ 302 $ 450 $ 752 Total ACL $ — $ 302 $ 450 $ 752

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	5. PREMISES AND EQUIPMENT The following table presents premises and equipment as of December 31, (In thousands) 2022 2021 Land and land improvements $ 6,853 $ 6,947 Buildings 12,332 13,404 Furniture and equipment 25,484 24,285 Leasehold improvements 14,891 13,861 Projects in progress 1,046 187 60,606 58,684 Less: accumulated depreciation 36,775 35,640 Total $ 23,831 $ 23,044 The following table presents finance lease right-of-use assets as of December 31, (In thousands) 2022 2021 Land and buildings $ 11,237 $ 11,237 Less: accumulated depreciation 8,402 7,655 Total $ 2,835 $ 3,582 Projects in progress represents costs associated with smaller renovation or equipment installation projects at various locations. The Company recorded depreciation expense of $ 3.5 million, $ 3.2 million, and $ 3.1 million for the years ended December 31, 2022, 2021, and 2020, respectively. The Company leases its corporate headquarters building under a capital lease, classified as a finance lease right-of-use asset in accordance with lease accounting guidance. The lease arrangement requires monthly payments through 2025. Related depreciation expense of $ 607,000 is included in each of the 2022, 2021 and 2020 results. The Company also leases its Gladstone branch after completing a sale-leaseback transaction involving the property in 2011. The lease arrangement requires monthly payments through 2031. The deferred gain was removed as a cumulative-effect adjustment in accordance with lease accounting guidance. Related depreciation expense and accumulated depreciation of $ 141,000 is included in each of the 2022, 2021 and 2020 results. The following is a schedule by year of future minimum lease payments under finance lease right-of-use asset, together with the present value of net minimum lease payments as of December 31, 2022: (In thousands) 2023 $ 1,456 2024 1,456 2025 939 2026 215 2027 226 Thereafter 903 Total minimum lease payments 5,195 Less: amount representing interest 499 Present value of net minimum lease payments $ 4,696

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2022
Deposits [Abstract]
DEPOSITS	. DEPOSITS Time deposits over $250,000 totaled $ 91.1 million and $ 140.4 million at December 31, 2022 and 2021, respectively. These totals exclude brokered certificates of deposit. The following table sets forth the details of total deposits as of December 31: (Dollars in thousands) 2022 2021 Noninterest-bearing demand deposits $ 1,246,066 23.94 % $ 956,482 18.16 % Interest-bearing checking (1) 2,143,611 41.18 2,287,894 43.45 Savings 157,338 3.02 154,914 2.94 Money market 1,228,234 23.60 1,307,051 24.82 Certificates of deposit - retail 318,573 6.12 409,608 7.78 Certificates of deposit - listing service 25,358 0.49 31,382 0.60 Subtotal deposits 5,119,180 98.35 5,147,331 97.75 Interest-bearing demand - Brokered 60,000 1.15 85,000 1.61 Certificates of deposit - Brokered 25,984 0.50 33,818 0.64 Total deposits $ 5,205,164 100.00 % $ 5,266,149 100.00 % (1) Interest-bearing checking includes $ 620.1 million at December 31, 2022 and $ 647.8 million at December 31, 2021 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace programs. The scheduled maturities of time deposits as of December 31, 2022 are as follows: (In thousands) 2023 $ 211,694 2024 104,417 2025 44,815 2026 6,374 2027 2,615 Over 5 Years — Total $ 369,915

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	. FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS At December 31, 2022 the Company had $ 379.5 million of overnight borrowings at the FHLB at a rate of 4.61 percent compared to no overnight borrowings as of December 31, 2021. At December 31, 2022, unused short-term overnight borrowing commitments totaled $ 1.5 billion from the FHLB, $ 22.0 million from correspondent bankers and $ 1.8 billion at the Federal Bank of New York.

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE	. FAIR VALUE Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing as asset or liability. The Company used the following methods and significant assumptions to estimate the fair value: Investment Securities: The fair values for investment securities are determined by quoted market prices (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). Loans Held for Sale, at Fair Value: The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors (Level 2). Derivatives : The fair values of derivatives are based on valuation models using observable market data as of the measurement date (Level 2). Our derivatives are traded in an over-the-counter market where quoted market prices are not always available. Therefore, the fair values of derivatives are determined using quantitative models that utilize multiple market inputs. The inputs will vary based on the type of derivative, but could include interest rates, prices and indices to generate continuous yield or pricing curves, prepayment rates, and volatility factors to value the position. The majority of market inputs are actively quoted and can be validated through external sources, including brokers, market transactions and third-party pricing services. Individually Evaluated Loans: The fair value of collateral dependent loans with specific allocations of the allowance for credit losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Individually evaluated loans may, in some cases, also be measured by the discounted cash flow methodology where payments are anticipated. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Other Real Estate Owned: Nonrecurring adjustments to certain commercial and residential real estate properties classified as other real estate owned ("OREO") are measured at fair value, less estimated costs to sell. Fair values are based on recent real estate appraisals. These appraisals may use a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Appraisals for collateral-dependent impaired loans are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by Management. Once received, a member of the Credit Department reviews the assumptions and approaches utilized in the appraisal, as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Appraisals on collateral dependent impaired loans and other real estate owned (consistent for all loan types) are obtained on an annual basis, unless a significant change in the market or other factors warrants a more frequent appraisal. On an annual basis, Management compares the actual selling price of any collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value for other properties. The most recent analysis performed indicated that a discount up to 15 percent should be applied to appraisals on properties. The discount is determined based on the nature of the underlying properties, aging of appraisal and other factors. For each collateral-dependent impaired loan we consider other factors, such as certain indices or other market information, as well as property specific circumstances to determine if an adjustment to the appraised value is needed. In situations where there is evidence of change in value, the Bank will determine if there is need for an adjustment to the specific reserve on the collateral dependent impaired loans. When the Bank applies an interim adjustment, it generally shows the adjustment as an incremental specific reserve against the loan until it has received the full updated appraisal. All collateral-dependent impaired loans and other real estate owned valuations were supported by an appraisal less than 12 months old or in the process of obtaining an appraisal as of December 31, 2022. The following tables summarize, at the dates indicated, assets measured at fair value on a recurring basis, including financial assets for which the Company has elected the fair value option: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2022 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: U.S. government-sponsored agencies $ 190,542 $ — $ 190,542 $ — Mortgage-backed securities-residential 325,738 — 325,738 — SBA pool securities 27,427 — 27,427 — State and political subdivisions 1,849 — 1,849 — Corporate bond 9,092 — 9,092 — CRA investment fund 12,985 12,985 — — Derivatives: Cash flow hedges 9,289 — 9,289 — Loan level swaps 38,265 — 38,265 — Total $ 615,187 $ 12,985 $ 602,202 $ — Liabilities: Derivatives: Loan level swaps 38,265 — 38,265 — Total $ 38,265 $ — $ 38,265 $ — (In thousands) December 31, 2021 Assets: Securities available for sale: U.S. government-sponsored agencies $ 272,221 $ — $ 272,221 $ — Mortgage-backed securities-residential 476,974 — 476,974 — SBA pool securities 39,561 — 39,561 — State and political subdivisions 5,476 — 5,476 — Corporate bond 2,521 — 2,521 — CRA investment fund 14,685 14,685 — — Loans held for sale, at fair value 3,040 — 3,040 — Derivatives: Loan level swaps 32,326 — 32,326 — Total $ 846,804 $ 14,685 $ 832,119 $ — Liabilities: Derivatives: Cash flow hedges $ 3,479 $ — $ 3,479 $ — Loan level swaps 34,569 — 34,569 — Total $ 38,048 $ — $ 38,048 $ — The Company has elected the fair value option for certain loans held for sale. These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of these loans are 90 days or more past due or on nonaccrual as of December 31, 2022 and December 31, 2021. The following table presents residential loans held for sale, at fair value, at the dates indicated: December 31, 2022 December 31, 2021 Residential loans contractual balance $ — $ 2,992 Fair value adjustment — 48 Total fair value of residential loans held for sale $ — $ 3,040 The following tables summarize, at the date indicated, assets measured at fair value on a non-recurring basis: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2022 (Level 1) (Level 2) (Level 3) Assets: Individually evaluated loans: Investment commercial real estate $ 10,000 $ — $ — $ 10,000 Commercial and industrial 743 — — 743 Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2021 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Investment commercial real estate $ 8,516 $ — $ — $ 8,516 The carrying amounts and estimated fair values of financial instruments at December 31, 2022 are as follows: Fair Value Measurements at December 31, 2022 Using (In thousands) Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 190,075 $ 190,075 $ — $ — $ 190,075 Securities available for sale 554,648 — 554,648 — 554,648 Securities held to maturity 102,291 — 87,187 — 87,187 CRA investment fund 12,985 12,985 — — 12,985 FHLB and FRB stock 30,672 — — — N/A Loans held for sale, at lower of cost 15,626 — 17,176 — 17,176 Loans, net of allowance for credit losses 5,224,417 — — 5,141,201 5,141,201 Accrued interest receivable 25,157 — 2,393 22,764 25,157 Accrued interest receivable loan level swaps (A) 1,092 — 1,092 — 1,092 Cash flow hedges 9,289 — 9,289 — 9,289 Loan level swaps 38,265 — 38,265 — 38,265 Financial liabilities Deposits $ 5,205,164 $ 4,835,249 $ 356,975 $ — $ 5,192,224 Short-term borrowings 379,530 — 379,530 — 379,530 Subordinated debt 132,987 — — 119,865 119,865 Accrued interest payable 2,997 2,509 413 75 2,997 Accrued interest payable loan level swaps (B) 1,092 — 1,092 — 1,092 Loan level swaps 38,265 — 38,265 — 38,265 (A) Included in other assets in the Consolidated Statement of Condition. (B) Included in accrued expenses and other liabilities in the Consolidated Statement of Condition. The carrying amounts and estimated fair values of financial instruments at December 31, 2021 are as follows: Fair Value Measurements at December 31, 2021 Using (In thousands) Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 146,804 $ 146,804 $ — $ — $ 146,804 Securities available for sale 796,753 — 796,753 — 796,753 Securities held to maturity 108,680 — 108,460 — 108,460 CRA investment fund 14,685 14,685 — — 14,685 FHLB and FRB stock 12,950 — — — N/A Loans held for sale, at fair value 3,040 — 3,040 — 3,040 Loans held for sale, at lower of cost 34,051 — 37,538 — 37,538 Loans, net of allowance for loan losses 4,745,024 — — 4,767,293 4,767,293 Accrued interest receivable 21,589 — 2,443 19,146 21,589 Accrued interest receivable loan level 4,842 — 4,842 — 4,842 Loan level swaps 32,326 — 32,326 — 32,326 Financial liabilities Deposits $ 5,266,149 $ 4,791,341 $ 476,659 $ — $ 5,268,000 Subordinated debt 132,701 — — 140,556 140,556 Accrued interest payable 651 130 446 75 651 Accrued interest payable loan level 4,842 — 4,842 — 4,842 Cash flow hedges 3,479 — 3,479 — 3,479 Loan level swaps 34,569 — 34,569 — 34,569 (A) Included in other assets in the Consolidated Statement of Condition. (B) Included in accrued expenses and other liabilities in the Consolidated Statement of Condition. The methods and assumptions, not previously presented, used to estimate fair values are described as follows: Cash and cash equivalents: The carrying amounts of cash and short-term instruments approximate fair values and are classified as either Level 1 or Level 2. Cash and due from banks is classified as Level 1. FHLB and FRB stock: It is not practicable to determine the fair value of FHLB or FRB stock due to restrictions placed on its transferability. Loans held for sale, at lower of cost or fair value: The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors. Loans held for sale are classified as Level 2. Loans: At December 31, 2022 and 2021, respectively, the exit price observations are obtained from a third-party using its proprietary valuation model and methodology and may not reflect actual or prospective market valuations. The valuation utilizes a discounted cash-flow based model relying on various assumptions including the probability of default, loss given default, portfolio liquidity and remaining term of the portfolio. Deposits: The fair values disclosed for demand deposits (e.g., interest and noninterest checking, savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date, (i.e., the carrying amount) resulting in a Level 1 classification. The carrying amounts of variable-rate certificates of deposit approximate the fair values at the reporting date resulting in Level 2 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. Overnight borrowings: The carrying amounts of overnight borrowings approximate fair values and are classified as Level 2. Federal Home Loan Bank advances: The fair values of the Company’s long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. Subordinated debentures: The fair values of the Company’s subordinated debentures are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 3 classification. Accrued interest receivable/payable: The carrying amounts of accrued interest approximate fair value resulting in a Level 2 or Level 3 classification. Accrued interest on deposits and securities are included in Level 2. Accrued interest on loans and subordinated debt are included in Level 3. Off-balance sheet instruments: Fair values for off-balance sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of commitments is not material.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	9. REVENUE FROM CONTRACTS WITH CUSTOMERS: All of the Company’s revenue from contracts with customers in the scope of ASC 606 is recognized within noninterest income. The following table presents the sources of noninterest income for the years ended December 31: (In thousands) 2022 2021 2020 Service charges on deposits Overdraft fees $ 488 $ 415 $ 405 Interchange income 1,451 1,451 1,208 Other 2,286 1,831 1,542 Wealth management fees (a) 54,651 52,987 40,861 Gains on sales of OREO — 51 — Gain on sale of property 275 — — Corporate advisory fee income 1,704 3,483 265 Other (b) 5,562 12,025 17,479 Total noninterest other income $ 66,417 $ 72,243 $ 61,760 (a) Includes investment brokerage fees. (b) All of the other category is outside the scope of ASC 606. The following table presents the sources of noninterest income by operating segment for the years ended December 31: 2022 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 488 $ — $ 488 Interchange income 1,451 — 1,451 Other 2,286 — 2,286 Wealth management fees (a) — 54,651 54,651 Gain on sale of property 275 — 275 Corporate advisory fee income 1,704 — 1,704 Other (b) 3,715 1,847 5,562 Total noninterest income $ 9,919 $ 56,498 $ 66,417 2021 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 415 $ — $ 415 Interchange income 1,451 — 1,451 Other 1,831 — 1,831 Wealth management fees (a) — 52,987 52,987 Gain on sales of OREO 51 — 51 Corporate advisory fee income 3,483 — 3,483 Other (b) 10,111 1,914 12,025 Total noninterest income $ 17,342 $ 54,901 $ 72,243 2020 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 405 $ — $ 405 Interchange income 1,208 — 1,208 Other 1,542 — 1,542 Wealth management fees (a) — 40,861 40,861 Corporate advisory fee income 265 — 265 Other (b) 15,684 1,795 17,479 Total noninterest income $ 19,104 $ 42,656 $ 61,760 (a) Includes investment brokerage fees. (b) All of the other category is outside the scope of ASC 606. A description of the Company’s revenue streams accounted for under ASC 606 follows: Service charges on deposit accounts : The Company earns fees from its deposit customers for certain transaction account maintenance, and overdraft fees. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance. Interchange income : The Company earns interchange fees from debit cardholder transactions conducted through the Visa payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. Interchange income is presented gross of cardholder rewards. Cardholder rewards are included in other expenses in the statement of income. Cardholder rewards reduced interchange income by $ 102,000 , $ 127,000 , and $ 115,000 for 2022, 2021, and 2020, respectively. Wealth management fees (gross) : The Company earns wealth management fees from its contracts with wealth management clients to manage assets for investment, and/or to transact on their accounts. These fees are primarily earned over time as the Company charges its clients on a monthly or quarterly basis in accordance with its investment advisory agreements. Fees are generally assessed based on a tiered scale of the market value of AUM at month end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed (i.e. trade date). Investment brokerage fees (net) : The Company earns fees from investment brokerage services provided to its customers by a third-party service provider. The Company receives commissions from the third-party service provider twice a month based upon customer activity for the month. The fees are recognized monthly, and a receivable is recorded until commissions are generally paid by the 15 th of the following month. Because the Company (i) acts as an agent in arranging the relationship between the customer and the third-party service provider and (ii) does not control the services rendered to the customers, investment brokerage fees are presented net of related costs. Corporate advisory fee income : The Company provides our clients with financial advisory and underwriting services. Investment banking revenues, which includes mergers and acquisition advisory fees and private placement fees, are recorded when the performance obligation for the transaction is satisfied under the terms of each engagement. Reimbursed expenses are reported in other revenue on the statement of operations. Expenses related to investment banking are recognized as non-compensation expenses on the statement of operations. Amounts received and unearned are included on the statement of financial condition. Expenses related to investment banking deals not completed are recognized in non-compensation expenses on the statement of operations. The Company’s mergers and acquisition advisory fees generally consist of a nonrefundable up-front fee and success fee. The nonrefundable fee is recorded as deferred revenue upon receipt and recognized at a point in time when the performance obligation is satisfied, or when the transaction is deemed by management to be terminated. Management’s judgement is required in determining when a transaction is considered to be terminated. Gains/(losses) on sales of property : The Company records a gain or loss from the sale of property when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of property to the buyer, the Company assesses whether the buyer is committed to perform its obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the property asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain/(loss) on sale if a significant financing component is present. The Company recorded a gain on sale of property of $ 275,000 for 2022. The Company did no t record a gain or loss in 2021 or 2020. Gains/(losses) on sales of OREO : The Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform its obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain/(loss) on sale if a significant financing component is present. The Company recorded a gain on sale of OREO of $ 51,000 for 2021. The Company did no t record a gain or loss in 2022 or 2020. Other : All of the other income items are outside the scope of ASC 606.

OTHER OPERATING EXPENSES

OTHER OPERATING EXPENSES	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
OTHER OPERATING EXPENSES	10. OTHER OPERATING EXPENSES The following table presents the major components of other operating expenses for the years ended December 31: (In thousands) 2022 2021 2020 Professional and legal fees $ 5,062 $ 5,343 $ 4,099 Telephone 1,460 1,323 1,432 Advertising 1,882 1,288 1,631 Amortization of intangible assets 1,569 1,598 1,287 Branch restructure 201 228 488 Write-off of subordinated debt costs — 648 — Other operating expenses 12,819 12,396 10,945 Total other operating expenses $ 22,993 $ 22,824 $ 19,882

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	11. INCOME TAXES The income tax expense included in the consolidated financial statements for the years ended December 31 is allocated as follows: (In thousands) 2022 2021 2020 Federal: Current expense/(benefit) $ 27,228 $ 7,400 $ ( 4,741 ) Deferred (benefit)/expense ( 7,817 ) 7,971 10,161 State: Current expense 7,511 4,188 2,327 Deferred expense/(benefit) 1,176 1,481 ( 1,936 ) Total income tax expense $ 28,098 $ 21,040 $ 5,811 Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 21 percent for 2022, 2021, and 2020, respectively, to income before taxes as a result of the following: (In thousands) 2022 2021 2020 "Computed expected tax expense" $ 21,513 $ 16,309 $ 6,721 (Decrease)/increase in taxes resulting from: Tax-exempt income ( 236 ) ( 146 ) ( 287 ) State income taxes, net of Federal benefit 7,109 4,789 1,813 Bank owned life insurance income ( 261 ) ( 356 ) ( 267 ) Life insurance expense 21 199 225 Interest disallowance 34 14 66 Meals and entertainment expense 39 39 40 Stock-based compensation ( 130 ) 9 569 Impact of CARES Act — — ( 3,009 ) Other 9 183 ( 60 ) Total income tax expense $ 28,098 $ 21,040 $ 5,811 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31 are as follows: (In thousands) 2022 2021 Deferred tax assets: Allowance for credit losses $ 14,924 $ 16,408 Tax net operating loss carryforward 648 1,180 Organization costs 7 8 Cash flow hedge — 978 Unrealized loss on securities available for sale 25,424 3,061 Unrealized loss on equity security 544 84 Stock option expense 3,084 2,541 Nonaccrual interest 202 97 Accrued compensation 5,277 5,631 Accrued expenses 803 472 Lease liabilities 3,598 2,689 Finance lease 1,072 732 Other 727 183 Total gross deferred tax assets $ 56,310 $ 34,064 Deferred tax liabilities: Lease financing $ 58,382 $ 64,071 Cash flow hedge 2,528 — Deferred loan origination costs and fees 1,827 1,757 Deferred income 4,608 4,543 Amortization of intangible assets 854 369 Lease right-of-use asset 3,379 2,600 Other 164 46 Total gross deferred tax liabilities 71,742 73,386 Net deferred tax liability $ ( 15,432 ) $ ( 39,322 ) Based upon taxes paid and projected future taxable income, Management believes that it is more likely than not that the Company’s gross deferred tax assets will be realized. However, there can be no assurance that such assets will be realized if circumstances change. At December 31, 2022, the Company had $ 14.5 million of state net operating loss ("NOL") carryforward available to offset future taxable income. These operating loss carryforwards have various expirations beginning in 2032. At December 31, 2021, the Company had a state NOL carryforward of $ 16.8 million. At December 31, 2022, the Company had no unrecognized tax benefits. The Company recognizes interest accrued related to uncertain tax positions and penalties as income tax expense. On July 1, 2018, the New Jersey established a 2.5 percent surtax on businesses that have New Jersey allocated net income in excess of $ 1.0 million. The surtax was effective as of January 1, 2018 and continued through 2020. In September 2020, New Jersey extended the surtax through December 31, 2023. The Bank made an adjustment to income tax expense and deferred tax assets/liabilities to reflect the new state tax rate. The CARES Act was signed into law on March 27, 2020 and subsequently has been amended several times. Among other provisions, the CARES Act allowed a five-year carryback of any NOL generated in a taxable year beginning after December 31, 2017 and before January 1, 2021. The tax benefit recorded in 2020 was primarily due to a $ 3.0 million Federal income tax benefit that resulted from the federal NOL carryback. The Company had a $ 23 million operating loss for tax purposes in 2018 (when the Federal tax rate was 21 percent) resulting from accelerated tax depreciation. The Company carried back all eligible NOLs and has no federal NOLs remaining. The Company is subject to U.S. Federal income tax as well as income tax of various state jurisdictions. The Company is no longer subject to federal examination for tax years prior to 2019 or by state and local tax authorities for years prior to 2017. The tax years of 2019, 2020 and 2021 remain open to federal examination.

BENEFIT PLANS

BENEFIT PLANS	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
BENEFIT PLANS	12. BENEFIT PLANS The Company sponsors a profit sharing plan and a savings plan under Section 401(k) of the Internal Revenue Code, covering substantially all salaried employees over the age of 21 with at least 12 months of service. The Company contributed three percent of compensation for each employee regardless of the employees’ contributions for the year ended December 31, 2022. The Company contributed two percent of compensation for each employee regardless of the employees’ contributions for the year ended December 31, 2021. The Company did no t make a contribution to the savings plan for the year ended December 31, 2020. In addition, the Company partially matches employee contributions up to three percent. Expense for the savings plan totaled $ 3.7 million for the year ended December 31, 2022, $ 2.9 million for the year ended December 31, 2021, and $ 1.7 million for the year ended December 31, 2020. Additional contributions to the profit sharing plan are made at the discretion of the Board of Directors and all funds are invested solely in Company common stock. The Company did not make additional contributions to the profit sharing plan in 2022, 2021 or 2020.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	13. STOCK-BASED COMPENSATION The Company’s 2021 Long-Term Stock Incentive Plan allows the granting of shares of the Company’s common stock as incentive stock options, nonqualified stock options, restricted stock awards, restricted stock units and stock appreciation rights to directors, officers and employees of the Company and its subsidiaries. As of December 31, 2022, the total number of shares available for grant in all active plans was 1,283,644 . There are no shares remaining for issuance with respect to the stock option plans approved in 2002, 2006 and 2012; however, options granted under these plans are still included in the numbers below. Options granted under the stock incentive plans are, in general, exercisable not earlier than one year after the date of grant, at a price equal to the fair value of the common stock on the date of grant and expire not more than ten years after the date of grant. Stock options may vest during a period of up to five years after the date of grant. The Company has a policy of using authorized but unissued shares to satisfy option exercises. Upon adoption of Accounting Standards Update (“ASU”) 2016-09, “Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting,” the Company has elected to account for forfeitures as they occur, rather than estimate expected forfeitures. Changes in options outstanding during 2022 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In Thousands) Balance, January 1, 2022 31,340 $ 14.59 Exercised during 2022 ( 23,640 ) 14.09 Expired during 2022 — — Forfeited during 2022 ( 900 ) 13.11 Balance, December 31, 2022 6,800 $ 16.53 0.55 years $ 141 Vested and expected to vest 6,800 $ 16.53 0.55 years $ 141 Exercisable at December 31, 2022 6,800 $ 16.53 0.55 years $ 141 The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the last trading day of 2022 and the exercise price, multiplied by the number of in-the-money options). The Company’s closing stock price on December 31, 2022 was $ 37.22 . There were no stock options granted in 2022. As of December 31, 2022, there was no unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Company’s stock incentive plans. The Company issued service-based and performance-based restricted stock units in 2022, 2021 and 2020. Service-based units vest ratably over a three- or five-year period. There were 235,534 service-based restricted stock units granted during 2022. The performance-based awards are dependent upon the Company meeting certain performance criteria and, to the extent the performance criteria are met, will cliff vest at the end of the performance period, which is generally three years . There were 71,482 performance-based restricted units granted during 2022. As of December 31, 2022, there was $ 14.8 million of total unrecognized compensation cost related to both service- and performance-based units. That cost is expected to be recognized over a weighted average period of 1.31 years. Total stock-based compensation expense recognized for stock awards/units totaled $ 7.8 million, $ 7.1 million and $ 6.9 million in 2022, 2021 and 2020, respectively. There was no stock-based compensation expense related to stock options for the years ended December 31, 2022, 2021 and 2020, respectively. Changes in non-vested shares dependent on performance criteria for 2022 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2022 225,435 $ 20.29 Granted during 2022 71,482 35.93 Vested during 2022 ( 58,077 ) 25.77 Forfeited during 2022 ( 5,284 ) 17.92 Balance, December 31, 2022 233,556 $ 23.77 Changes in service based restricted stock units for 2022 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2022 701,145 $ 21.93 Granted during 2022 235,534 36.86 Vested during 2022 ( 289,546 ) 21.94 Forfeited during 2022 ( 25,963 ) 24.05 Balance, December 31, 2022 621,170 $ 27.50

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	14. COMMITMENTS AND CONTINGENCIES The Company, in the ordinary course of business, is a party to litigation arising from the conduct of its business. Management does not consider that these actions depart from routine legal proceedings and believes that such actions will not affect its financial position or results of its operations in any material manner. There are various outstanding commitments and contingencies, such as guarantees and credit extensions, including mostly variable-rate loan commitments of $ 996.7 million and $ 894.8 million at December 31, 2022 and 2021, respectively, which are not included in the accompanying consolidated financial statements. These commitments include unused commercial and home equity lines of credit. The Company issues financial standby letters of credit that are irrevocable undertakings by the Company to guarantee payment of a specified financial obligation. Most of the Company’s financial standby letters of credit arise in connection with lending relations and have terms of one year or less. The maximum potential future payments the Company could be required to make equal the contract amount of the standby letters of credit and amounted to $ 20.2 million and $ 18.8 million at December 31, 2022 and 2021, respectively. The fair value of the Company’s liability for financial standby letters of credit was insignificant at December 31, 2022. For commitments to originate loans, the Company’s maximum exposure to credit risk is represented by the contractual amount of those instruments. Those commitments represent ultimate exposure to credit risk only to the extent that they are subsequently drawn upon by customers. The Company uses the same credit policies and underwriting standards in making loan commitments as it does for on-balance-sheet instruments. For loan commitments, the Company would generally be exposed to interest rate risk from the time a commitment is issued with a defined contractual interest rate. The Company is also obligated under legally binding and enforceable agreements to purchase goods and services from third parties, including data processing service agreements. The Company is a limited partner in several Small Business Investment Company (“SBIC”) funds. As of December 31, 2022, the Company had unfunded commitments of $ 11.3 million for its investment in SBIC qualified funds.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASES	15. LEASES The Company maintains certain property and equipment under direct financing and operating leases. As of December 31, 2022, the Company’s operating lease ROU asset and operating lease liability totaled $ 12.9 million and $ 13.7 million, respectively. As of December 31, 2021, the Company’s operating lease ROU asset and operating lease liability totaled $ 9.8 million and $ 10.1 million, respectively. A weighted average discount rate of 2.63 percent and 2.78 percent was used in the measurement of the ROU asset and lease liability as of December 31, 2022 and 2021, respectively. The Company's leases had remaining lease terms between three months to 14 years, with a weighted average lease term of 7.48 years, at December 31, 2022. The Company's leases had remaining lease terms between four months to 15 years, with a weighted average lease term of 6.09 years, at December 31, 2021. The Company’s lease agreements may include options to extend or terminate the lease. The Company’s decision to exercise renewal options is based on an assessment of its current business needs and market factors at the time of the renewal. Total operating lease costs were $ 3.4 million and $ 2.8 million for the years ended December 31, 2022 and 2021, respectively. The variable lease costs were $ 305,000 and $ 313,000 for the years ended December 31, 2022 and 2021, respectively. The following is a schedule of the Company's operating lease liabilities by contractual maturity as of December 31, 2022: (In thousands) 2023 $ 3,007 2024 2,342 2025 2,092 2026 1,532 2027 1,169 Thereafter 5,082 Total lease payments 15,224 Less: imputed interest 1,520 Total present value of lease payments $ 13,704 The following table shows the supplemental cash flow information related to the Company’s direct finance and operating leases for the years ended December 31: (In thousands) 2022 2021 Right-of-use asset obtained in exchange for lease obligation $ 5,909 $ 3,098 Operating cash flows from operating leases 2,656 2,506 Operating cash flows from direct finance leases 250 300 Financing cash flows from direct finance leases 748 748

REGULATORY CAPITAL

REGULATORY CAPITAL	12 Months Ended
	Dec. 31, 2022
Regulatory Capital [Abstract]
REGULATORY CAPITAL	16. REGULATORY CAPITAL Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet minimum capital requirements can initiate certain mandatory – and possibly additional discretionary – actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements and results of operations. The final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (Basel III rules) became effective for the Company on January 1, 2015, with full compliance of all the requirements being fully phased in on January 1, 2019. The Company has chosen to exclude net unrealized gain or loss on available for sale securities in computing regulatory capital. Management believes that as of December 31, 2022, the Company and the Bank meet all capital adequacy requirements to which they were subject at that date. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At December 31, 2022 and 2021, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier I risk-based, common equity Tier 1 and Tier I leverage ratios as set forth in the table. The Bank’s regulatory capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2022: Total capital (to risk-weighted assets) $ 741,719 14.67 % $ 505,760 10.00 % $ 404,608 8.00 % $ 531,048 10.50 % Tier I capital (to risk-weighted assets) 680,137 13.45 404,608 8.00 303,456 6.00 429,896 8.50 Common equity tier I (to risk-weighted assets) 680,119 13.45 328,744 6.50 227,592 4.50 354,032 7.00 Tier I capital (to average assets) 680,137 10.85 313,328 5.00 250,662 4.00 250,662 4.00 As of December 31, 2021: Total capital (to risk-weighted assets) $ 672,614 14.05 % $ 478,628 10.00 % $ 382,902 8.00 % $ 502,559 10.50 % Tier I capital (to risk-weighted assets) 612,762 12.80 382,902 8.00 287,177 6.00 406,834 8.50 Common equity tier I (to risk-weighted assets) 612,738 12.80 311,108 6.50 215,382 4.50 335,039 7.00 Tier I capital (to average assets) 612,762 9.99 306,538 5.00 245,231 4.00 245,231 4.00 (A) See footnote on following table. The Company’s regulatory capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2022: Total capital (to risk-weighted assets) $ 745,197 14.73 % N/A N/A $ 404,830 8.00 % $ 531,340 10.50 % Tier I capital (to risk-weighted assets) 557,627 11.02 N/A N/A 303,623 6.00 430,132 8.50 Common equity tier I (to risk-weighted assets) 557,609 11.02 N/A N/A 227,717 4.50 354,227 7.00 Tier I capital (to average assets) 557,627 8.90 N/A N/A 250,746 4.00 250,746 4.00 As of December 31, 2021: Total capital (to risk-weighted assets) $ 700,790 14.64 % N/A N/A $ 382,944 8.00 % $ 502,614 10.50 % Tier I capital (to risk-weighted assets) 508,231 10.62 N/A N/A 287,208 6.00 406,878 8.50 Common equity tier I (to risk-weighted assets) 508,207 10.62 N/A N/A 215,406 4.50 335,076 7.00 Tier I capital (to average assets) 508,231 8.29 N/A N/A 245,242 4.00 245,242 4.00 (A) The Basel Rules require the Company and the Bank to maintain a 2.5 percent “capital conservation buffer” on top of the minimum risk-weighted asset ratios. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of (i) CET1 to risk-weighted assets, (ii) Tier 1 capital to risk-weighted assets or (iii) total capital to risk-weighted assets above the respective minimum but below the capital conservation buffer face constraints on dividends, equity repurchases and discretionary bonus payments to executive officers based on the amount of the shortfall.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	17. DERIVATIVES The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements. Interest Rate Swaps Designated as Cash Flow Hedges: Interest rate swaps with a notional amount of $ 290.0 million as of December 31, 2022 and $ 230.0 million as of December 31, 2021 were designated as cash flow hedges of certain interest-bearing deposits. On a quarterly basis, the Company performs a qualitative hedge effectiveness assessment. This assessment takes into consideration any adverse developments related to the counterparty’s risk of default and any negative events or circumstances that affect the factors that originally enabled the Company to assess that it could reasonably support, qualitatively, an expectation that the hedging relationship was and will continue to be highly effective. As of December 31, 2022, there were no events or market conditions that would result in hedge ineffectiveness. The aggregate fair value of the swaps is recorded in other assets/liabilities with changes in fair value recorded in other comprehensive income. The amount included in accumulated other comprehensive income would be reclassified to current earnings should the hedges no longer be considered effective. The Company expects the hedges to remain fully effective during the remaining terms of the swaps. In March 2022, the Company entered into four forward starting interest rate swaps with a total notional amount of $ 100.0 million. These swaps will effectively extend the interest rate protection of existing swaps that are maturing in 2023 for an additional five years . As such, they are designated as cash flow hedges of certain interest-bearing deposits. The Company will receive variable amounts and pay fixed amounts. The weighted-average fixed pay rate on these forward swaps was 2.25 percent as of December 31, 2022. As of December 31, 2022, an unrealized gain of $ 6.0 million was recorded in accumulated other comprehensive income related to these forward starting swaps. The tables below do not include the impact of these forward swaps. The following table presents information about the interest rate swaps designated as cash flow hedges as of December 31, 2022 and December 31, 2021: (Dollars in thousands) 2022 2021 Notional amount $ 290,000 $ 230,000 Weighted average pay rate 1.71 % 1.99 % Weighted average receive rate 2.78 % 0.20 % Weighted average maturity 2.01 years 1.04 years Unrealized gain/(loss), net $ 3,290 $ ( 3,479 ) Number of contracts 12 13 December 31, 2022 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing $ 290,000 $ 3,290 Total included in other assets $ 290,000 $ 3,290 Total included in other liabilities — — December 31, 2021 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing $ 230,000 $ ( 3,479 ) Total included in other assets — — Total included in other liabilities 230,000 ( 3,479 ) Cash Flow Hedges The following table presents the net gains/(losses) recorded in accumulated other comprehensive income and the consolidated financial statements relating to the cash flow derivative instruments for the year ended December 31: (In thousands) 2022 2021 Interest rate contracts Gain/(loss) recognized in other comprehensive income (effective portion) $ 9,262 $ 4,412 Gain/(loss) reclassified from other comprehensive income to interest expense — — Gain/(loss) recognized in other noninterest income 116 ( 842 ) During the third quarter of 2022, the Company recognized an unrealized after-tax gain of $ 167,000 in accumulated other comprehensive income/(loss) related to the termination of two interest rate swaps designated as cash flow hedges that were deemed ineffective. The gain is being amortized into earnings over the remaining life of the terminated swaps. Net interest expense recorded on these swap transactions totaled $ 851,000 and $ 4.4 million for the years ended December 31, 2022 and 2021, respectively. Derivatives Not Designated as Accounting Hedges The Company offers facility specific/loan level swaps to its customers and offsets its exposure from such contracts by entering mirror image swaps with a financial institution/swap counterparty (loan level / back-to-back swap program). The customer accommodations and any offsetting swaps are treated as non-hedging derivative instruments which do not qualify for hedge accounting (“standalone derivatives”). The notional amount of the swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual contracts. The fair value of the swaps is recorded as both an asset and a liability, in other assets and other liabilities, respectively, in equal amounts for these transactions. The accrued interest receivable and payable related to these swaps of $ 1.1 million and $ 4.8 million at December 31, 2022 and December 31, 2021, respectively, is recorded in other assets and other liabilities. At December 31, 2021, the Company recorded a total swap valuation provision of $ 2.1 million related to a commercial real estate loan placed on nonaccrual status during the third quarter of 2021. This swap was terminated during the first quarter of 2022. Information about these swaps is as follows: (Dollars in thousands) December 31, 2022 December 31, 2021 Notional amount $ 612,211 $ 702,210 Fair value $ ( 37,173 ) $ 32,326 Weighted average pay rates 3.99 % 4.00 % Weighted average receive rates 6.14 % 1.83 % Weighted average maturity 4.68 years 5.5 years Number of contracts 78 86

SHAREHOLDERS EQUITY

SHAREHOLDERS EQUITY	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
SHAREHOLDERS EQUITY	. SHAREHOLDERS’ EQUITY On January 28, 2021, the Company authorized the repurchase of up to 948,735 shares, or approximately 5 percent of its outstanding shares. The Company completed its 948,735 share repurchase program at an average price of $ 32.30 for a total cost of $ 30.6 million. On January 28, 2022, the Company announced authorization of a new share repurchase program of up to 920,000 shares, or approximately 5 percent of its outstanding shares. The Company purchased 876,986 shares at an average price of $ 35.01 for a total cost of $ 30.7 million under this program which ended on December 31, 2022. During the year ended December 31, 2022, the Company purchased 930,977 shares at an average price of $ 35.15 for a total cost of $ 32.7 million. During the year ended December 31, 2021, the Company purchased 894,744 shares at an average price of $ 31.99 for a total cost of $ 28.6 million. The Dividend Reinvestment Plan of the Company (the “Reinvestment Plan”) allows shareholders of the Company to purchase additional shares of common stock using cash dividends without payment of any brokerage commissions or other charges. Shareholders may also make voluntary cash payments of up to $ 200,000 per quarter to purchase additional shares of common stock. Voluntary share purchases in the “Reinvestment Plan” can be filled from the Company’s authorized but unissued shares and/or in the open market, at the discretion of the Company. All shares purchased during 2022 and 2021 were purchased in the open market. GAAP Capital was also impacted by an increase in the unrealized loss on available-for-sale securities of $ 61.8 million due to the significant rise in the medium-term Treasury yields during 2022.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
BUSINESS SEGMENTS	19. BUSINESS SEGMENTS The Company assesses its results among two operating segments, Banking and Peapack Private. Management uses certain methodologies to allocate income and expense to the business segments. A funds transfer pricing methodology is used to assign interest income and interest expense. Certain indirect expenses are allocated to segments. These include support unit expenses such as technology and operations and other support functions. Taxes are allocated to each segment based on the effective rate for the period shown. The Banking segment’s effective tax rate for the year ended December 31, 2020 was affected by a $ 3.3 million income tax benefit recorded during the first quarter of 2020. For additional information related to this income tax benefit refer to the Income Taxes footnote. Banking The Banking segment includes: commercial (includes C&I and equipment finance), commercial real estate, multifamily, residential and consumer lending activities; treasury management services; C&I advisory services; escrow management; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support and sales. Peapack Private Peapack Private, which includes the operations of PGB Trust & Investments of Delaware, consists of: investment management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; and other financial planning, tax preparation and advisory services. The following tables present the statements of income and total assets for the Company’s reportable segments for the years ended December 31, 2022, 2021 and 2020: Year Ended December 31, 2022 Wealth (In thousands) Banking Management Total Net interest income $ 167,893 $ 8,187 $ 176,080 Noninterest income 9,919 56,498 66,417 Total income 177,812 64,685 242,497 Provision for credit losses 6,353 — 6,353 Compensation and benefits 61,975 27,501 89,476 Premises and equipment expense 15,774 2,945 18,719 FDIC expense 1,939 — 1,939 Other noninterest expense 13,590 10,076 23,666 Total noninterest expense 99,631 40,522 140,153 Income before income tax expense 78,181 24,163 102,344 Income tax expense 21,453 6,645 28,098 Net income $ 56,728 $ 17,518 $ 74,246 Total assets at period end $ 6,256,664 $ 96,929 $ 6,353,593 Year Ended December 31, 2021 Wealth (In thousands) Banking Management Total Net interest income $ 132,195 $ 5,866 $ 138,061 Noninterest income 17,342 54,901 72,243 Total income 149,537 60,767 210,304 Provision for loan losses 6,475 — 6,475 Compensation and benefits 56,970 24,894 81,864 Premises and equipment expense 14,805 2,360 17,165 FDIC expense 2,071 — 2,071 Other noninterest expense 14,407 10,660 25,067 Total noninterest expense 94,728 37,914 132,642 Income before income tax expense 54,809 22,853 77,662 Income tax expense 14,847 6,193 21,040 Net income $ 39,962 $ 16,660 $ 56,622 Total assets at period end $ 5,973,343 $ 104,650 $ 6,077,993 Year Ended December 31, 2020 Wealth (In thousands) Banking Management Total Net interest income $ 121,583 $ 6,019 $ 127,602 Noninterest income 19,104 42,656 61,760 Total income 140,687 48,675 189,362 Provision for loan losses 32,400 — 32,400 Compensation and benefits 54,044 23,472 77,516 Premises and equipment expense 14,056 2,321 16,377 FDIC expense 1,975 — 1,975 Other noninterest expense 19,694 9,397 29,091 Total noninterest expense 122,169 35,190 157,359 Income before income tax expense 18,518 13,485 32,003 Income tax expense 2,170 3,641 5,811 Net income $ 16,348 $ 9,844 $ 26,192 Total assets at period end $ 5,798,770 $ 91,672 $ 5,890,442

SUBORDINATED DEBT

SUBORDINATED DEBT	12 Months Ended
	Dec. 31, 2022
Subordinated Debt [Abstract]
SUBORDINATED DEBT	20. SUBORDINATED DEBT In December 2017, the Company issued $ 35.0 million in aggregate principal amount of fixed-to-floating subordinated notes (the “2017 Notes”) to certain institutional investors. The 2017 Notes are non-callable for five years , have a stated maturity of December 15, 2027 , and had a fixed interest rate of 4.75 percent per year until December 15, 2022. From December 16, 2022, to the maturity date or early redemption date, the interest rate will reset quarterly to a level equal to the then current three-month LIBOR rate plus 254 basis points, payable quarterly in arrears. Debt issuance costs incurred totaled $ 875,000 and are being amortized to maturity. In December 2020, the Company issued $ 100.0 million in aggregate principal amount of fixed to floating subordinated notes (the “2020 Notes”) to certain institutional investors. The 2020 Notes are non-callable for five years , have a stated maturity of December 22, 2030 , and bear interest at a fixed rate of 3.50 percent per year until December 22, 2025. From December 23, 2025, to the maturity date or early redemption date, the interest rate will reset quarterly to a level equal to the then current three-month SOFR plus 326 basis points, payable quarterly in arrears. Debt issuance costs incurred totaled $ 1.9 million and are being amortized to maturity. The Company used the proceeds from the issuance of the 2020 Notes to refinance then-outstanding debt, for stock repurchases, acquisitions of wealth management firms, as well as other general corporate purposes. Subordinated debt is presented net of issuance cost on the Consolidated Statements of Condition. The subordinated debt issuances are included in the Company’s regulatory total capital amount and ratio. In connection with the issuance of the 2020 Notes, the Company obtained ratings from Kroll Bond Rating Agency (“KBRA”) and Moody’s Investors Service (“Moody’s”). KBRA assigned investment grade rating of BBB- and Moody’s assigned investment grade rating of Baa3 for the 2020 Notes at the time of issuance.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
ACQUISITIONS	21. ACQUISITIONS The Company did no t complete any acquisitions in 2022. The Company completed one acquisition in 2021 and two acquisitions in 2020, supporting the overall wealth management strategy. The acquisitions were not considered significant to the Company’s financial statements and therefore pro forma financial data and related disclosures are not included. On December 18, 2020, the Company acquired wealth management teams and the associated books of business from Noyes Capital Management and Lucas Capital Management. The purchase price was comprised of cash in both transactions. The excess of the purchase price over the estimated fair value of the identifiable net assets was recorded as goodwill and is deductible for tax purposes. On July 1, 2021, the Company acquired Princeton Portfolio Strategies Group. The purchase price was comprised of cash and common stock. The excess of the purchase price over the estimated fair value of the identifiable net assets was recorded as goodwill and is deductible for tax purposes. The fair value of the equity included as part of the consideration for the Company’s acquisition in 2021 was determined based on the closing price of the Company’s common shares on the acquisition date and totaled $ 333,000 for 2021. There was no equity included in the Company’s acquisitions for the year ended December 31, 2020. The 2021 acquisition resulted in goodwill of $ 3.1 million as well as identifiable intangible assets. The two 2020 acquisitions resulted in goodwill of $ 2.9 million as well as identifiable intangible assets. Identifiable intangible assets include tradename, customer relationships and non-compete agreements. No liabilities were assumed at these acquisition dates. Goodwill on the Company’s consolidated statement of financial condition totaled $ 36.2 million at December 31, 2022 and 2021. Of the $ 36.2 million of goodwill, $ 563,000 relates to the Banking segment and $ 35.6 million relates to the Wealth Management segment. During 2022, the Company conducted its annual impairment analysis and concluded that there was no impairment of goodwill. The table below presents a roll forward of goodwill and intangible assets for the years ended December 31, 2022, 2021 and 2020: Identifiable (In thousands) Goodwill Intangible Assets Balance as of January 1, 2020 $ 30,208 $ 10,380 Acquisitions during the period 2,895 1,695 Amortization and impairment during the period — 1,287 Balance as of December 31, 2020 $ 33,103 $ 10,788 Acquisitions during the period $ 3,109 $ 3,500 Amortization and impairment during the period — 1,598 Balance as of December 31, 2021 $ 36,212 $ 12,690 Acquisitions during the period $ — $ — Amortization during the period — 1,569 Balance as of December 31, 2022 $ 36,212 $ 11,121 Amortization expense related to identifiable intangible assets was $ 1.6 million for 2022 and 2021 and $ 1.3 million for 2020. Estimated amortization expense for each of the next five years is shown in the table below. (In thousands) 2023 $ 1,320 2024 1,087 2025 1,087 2026 959 2027 944

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME/ (LOSS)	22. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the years ended December 31, 2022, 2021 and 2020: Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Twelve Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive December 31, December 31, (In thousands) 2022 Reclassifications Income/(Loss) 2022 2022 Net unrealized holding gain/(loss) on $ ( 9,873 ) $ ( 76,126 ) $ 5,027 $ ( 71,099 ) $ ( 80,972 ) Gain/(loss) on cash flow hedges ( 2,501 ) 9,348 ( 86 ) 9,262 6,761 Accumulated other comprehensive $ ( 12,374 ) $ ( 66,778 ) $ 4,941 $ ( 61,837 ) $ ( 74,211 ) Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Twelve Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive December 31, December 31, (In thousands) 2021 Reclassifications Income/(Loss) 2021 2021 Net unrealized holding gain/(loss) on $ 5,521 $ ( 15,394 ) $ — $ ( 15,394 ) $ ( 9,873 ) Gain/(loss) on cash flow hedges ( 6,913 ) 3,806 606 4,412 ( 2,501 ) Accumulated other comprehensive $ ( 1,392 ) $ ( 11,588 ) $ 606 $ ( 10,982 ) $ ( 12,374 ) Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Twelve Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive December 31, December 31, (In thousands) 2020 Reclassifications Income/(Loss) 2020 2020 Net unrealized holding gain/(loss) on $ 1,006 $ 4,515 $ — $ 4,515 $ 5,521 Gain/(loss) on cash flow hedges ( 2,501 ) ( 4,346 ) ( 66 ) ( 4,412 ) ( 6,913 ) Accumulated other comprehensive $ ( 1,495 ) $ 169 $ ( 66 ) $ 103 $ ( 1,392 ) The following represents the reclassifications out of accumulated other comprehensive income/(loss) for the years ended December 31, 2022, 2021 and 2020: Years Ended December 31, (In thousands) 2022 2021 2020 Affected Line Item in Statements of Income Unrealized gain/(losses) on securities available Reclassification adjustment for amounts included $ 6,609 $ — $ — Securities losses, net Tax effect ( 1,582 ) — — Income tax expense Total reclassifications, net of tax $ 5,027 $ — $ — Unrealized gain/(losses) on cash flow Reclassification adjustment for amounts included $ ( 116 ) $ 842 $ ( 89 ) Interest expense/other income Tax effect 30 ( 236 ) 23 Income tax expense Total reclassifications, net of tax $ ( 86 ) $ 606 $ ( 66 )

CONDENSED FINANCIAL STATEMENTS

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY)	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY)	23. CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) STATEMENTS OF CONDITION December 31, (In thousands) 2022 2021 Assets Cash $ 7,967 $ 27,530 Interest-earning deposits 523 522 Total cash and cash equivalents 8,490 28,052 Investment in subsidiary 655,490 650,918 Other assets 2,356 680 Total assets $ 666,336 $ 679,650 Liabilities Subordinated debt $ 132,987 $ 132,701 Other liabilities 369 561 Total liabilities 133,356 133,262 Shareholders’ equity Common stock 17,513 17,220 Surplus 338,706 332,358 Treasury stock ( 97,826 ) ( 65,104 ) Retained earnings 348,798 274,288 Accumulated other comprehensive loss ( 74,211 ) ( 12,374 ) Total shareholders’ equity 532,980 546,388 Total liabilities and shareholders’ equity $ 666,336 $ 679,650 STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Years Ended December 31, (In thousands) 2022 2021 2020 Income Dividend from Bank $ 23,000 $ — $ 13,000 Other income 2 — 2 Total income 23,002 — 13,002 Expenses Interest expense 5,453 7,013 4,992 Other expenses 1,130 1,602 948 Total expenses 6,583 8,615 5,940 Income/(loss) before income tax benefit and 16,419 ( 8,615 ) 7,062 Income tax benefit ( 1,676 ) ( 2,340 ) ( 1,247 ) Net income/(loss) before equity in undistributed earnings of Bank 18,095 ( 6,275 ) 8,309 Equity in undistributed earnings of Bank/(dividends 56,151 62,897 17,883 Net income $ 74,246 $ 56,622 $ 26,192 Other comprehensive (loss)/income ( 61,837 ) ( 10,982 ) 103 Comprehensive income $ 12,409 $ 45,640 $ 26,295 STATEMENTS OF CASH FLOWS Years Ended December 31, (In thousands) 2022 2021 2020 Cash flows from operating activities: Net income $ 74,246 $ 56,622 $ 26,192 Undistributed earnings of Bank ( 56,151 ) ( 62,897 ) ( 17,883 ) Amortization of subordinated debt costs 286 1,002 234 (Increase)/decrease in other assets ( 1,676 ) ( 674 ) 4,914 (Decrease)/increase in other liabilities ( 192 ) ( 1,979 ) 2,176 Net cash provided by/(used in) operating activities 16,513 ( 7,926 ) 15,633 Cash flows from investing activities: Capital contribution to subsidiary — — — Net cash used in investing activities — — — Cash flows from financing activities: Cash dividends paid on common stock ( 3,645 ) ( 3,775 ) ( 3,780 ) Exercise of stock options, net of stock swaps 292 187 230 Proceeds from issuance of subordinated debt — — 98,143 Repayments of subordinated debt — ( 50,000 ) — Purchase of treasury shares ( 32,722 ) ( 28,627 ) ( 6,487 ) Net cash (used in)/provided by financing activities ( 36,075 ) ( 82,215 ) 88,106 Net (decrease)/increase in cash and cash equivalents ( 19,562 ) ( 90,141 ) 103,739 Cash and cash equivalents at beginning of period 28,052 118,193 14,454 Cash and cash equivalents at end of period $ 8,490 $ 28,052 $ 118,193

SUPPLEMENTAL DATA (unaudited)

SUPPLEMENTAL DATA (unaudited)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
SUPPLEMENTAL DATA (unaudited)	24. SUPPLEMENTAL DATA (unaudited) The following table sets forth certain unaudited quarterly financial data for the periods indicated: Selected 2022 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 44,140 $ 48,520 $ 55,013 $ 64,202 Interest expense 4,518 5,627 9,488 16,162 Net interest income 39,622 42,893 45,525 48,040 Provision for loan losses 2,375 1,449 599 1,930 Wealth management fee income 14,834 13,891 12,943 12,983 Securities (losses)/gains, net ( 6,609 ) — — — Fair value adjustment of CRA equity security ( 682 ) ( 475 ) ( 571 ) 28 Other income 7,171 5,092 4,011 3,801 Operating expenses 34,169 32,659 33,560 33,412 Income before income tax expense 17,792 27,293 27,749 29,510 Income tax expense 4,351 7,193 7,623 8,931 Net income $ 13,441 $ 20,100 $ 20,126 $ 20,579 Earnings per share-basic $ 0.73 $ 1.10 $ 1.11 $ 1.15 Earnings per share-diluted 0.71 1.08 1.09 1.12 Selected 2021 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 38,239 $ 39,686 $ 40,067 $ 42,075 Interest expense 6,446 5,841 4,856 4,863 Net interest income 31,793 33,845 35,211 37,212 Provision for loan losses 225 900 1,600 3,750 Wealth management fee income 12,131 13,034 13,860 13,962 Fair value adjustment of CRA equity security ( 265 ) 42 ( 70 ) ( 139 ) Other income 5,954 4,602 3,991 5,141 Operating expenses 31,594 30,684 32,185 31,704 (Loss)/income before income tax (benefit)/expense 17,794 19,939 19,207 20,722 Income tax (benefit)/expense 4,616 5,521 5,036 5,867 Net income $ 13,178 $ 14,418 $ 14,171 $ 14,855 Earnings per share-basic $ 0.70 $ 0.76 $ 0.76 $ 0.80 Earnings per share-diluted 0.67 0.74 0.74 0.78

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation and Organization	Principles of Consolidation and Organization: The consolidated financial statements of the Company are prepared on the accrual basis and include the accounts of the Company and its wholly-owned subsidiary, Peapack-Gladstone Bank (the “Bank”). The consolidated financial statements also include the Bank’s wholly-owned subsidiaries: • PGB Trust & Investments of Delaware • Peapack Capital Corporation (“PCC”) • Murphy Capital Management ("Murphy Capital") was dissolved into the Bank on July 1, 2022 • Peapack-Gladstone Mortgage Group, Inc. which owns 99 percent of Peapack Ventures, LLC and 79 percent of Peapack-Gladstone Realty, Inc., a New Jersey real estate investment company • PGB Trust & Investments of Delaware owns one percent of Peapack Ventures, LLC • Peapack Ventures, LLC which owns the remaining 21 percent of Peapack-Gladstone Realty, Inc. • PGB Securities, Inc. While the following footnotes include the collective results of the Company, the Bank and their subsidiaries, these footnotes primarily reflect the Bank’s and its subsidiaries’ activities. All significant intercompany balances and transactions have been eliminated from the accompanying consolidated financial statements. Business: The Bank is a commercial bank that provides innovative private banking services to businesses, non-profits and consumers. Wealth management services are also provided through its subsidiary, PGB Trust & Investments of Delaware. The Bank is subject to competition from other financial institutions, is regulated by certain federal and state agencies and undergoes periodic examinations by those regulatory authorities.
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation : The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles. In preparing the financial statements, Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses and disclosure of contingent assets and liabilities as of the date of the statement of condition. Actual results could differ from those estimates.
Adoption of New Accounting Standards and Accounting Pronouncements	Adoption of New Accounting Standards: On January 1, 2022, the Company adopted Accounting Standards Update ("ASU") 2016-13, Financial Instruments - Credit Losses (Topic 326) ("ASU 2016-13"), which replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss ("CECL") methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan and lease receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments). In addition, Accounting Standards Codification ("ASC") 326 made changes to the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities Management does not intend to sell or believes that it is more likely than not they will be required to sell. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet commitments. Results for reporting periods beginning after January 1, 2022 are presented under ASC 326 while prior period amounts continue to be reported in accordance with the incurred loss model previously applicable under GAAP. The Company recorded a net increase to retained earnings of $ 3.9 million as of January 1, 2022 for the cumulative effect of adopting ASC 326. The transition adjustment includes a $ 5.5 million reduction to our allowance for credit losses. The lower allowance was in part attributed to historically low charge-offs combined with the shorter duration of the loan portfolio employed in our CECL analysis. Further, the incurred loss method required significant qualitative factors, including factors related to COVID-19, and the use of a multiplier for potential losses on criticized and classified loans, neither of which are included within the CECL methodology. The CECL methodology utilizes significantly less qualitative factors as it uses economic factors and historical losses over a full economic cycle and calculates losses based on discounted cash flows on an individual loan basis. Accordingly, the CECL model quantitatively accounts for some of the qualitative factors utilized in the incurred loss methodology. The following table illustrates the impact to our financial statements as of January 1, 2022 upon adoption of ASC 326: January 1, 2022 (In thousands) Impact to Consolidated Statement of Condition from ASC-326 Adoption Tax Effect Impact to Retained Earnings from ASC-326 Adoption Allowance for credit losses on loans $ 5,536 $ ( 1,490 ) $ 4,046 Allowance for credit losses on off-balance sheet commitments ( 188 ) 51 ( 137 ) Total impact from ASC 326 adoption $ 5,348 $ ( 1,439 ) $ 3,909 Accounting Pronouncements: In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). The amendments in ASU 2020-04 provide optional expedients and exceptions for applying generally accepted accounting principles ("GAAP") to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in ASU 2020-04 apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. The amendments in this ASU can be adopted immediately and are effective through December 31, 2022. The Company is evaluating alternative reference rates including the Secured Overnight Financing Rate ("SOFR") in preparation for a rate index replacement and the adoption of this ASU 2020-04. In March 2022, FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815) ("ASU 2022-01") which clarifies the guidance in ASC 815 on fair value hedge accounting of interest rate risk for portfolios and financial assets. Among other things, the amended guidance established the "last-of-layer" method for making the fair value hedge accounting for these portfolios more accessible and renamed that method the "portfolio layer" method. ASU 2022-01 is effective January 1, 2023 and is not expected to have a material impact on our consolidated financial statements. In March 2022, FASB issued ASU 2022-02, Financial Instruments-Credit Losses (Topic 326); Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02"). ASU 2022-02 eliminates the accounting guidance on troubled debt restructurings for creditors in ASC 310-40 and amends the guidance on "vintage disclosures" to require disclosure of current-period gross write-offs by year of origination. ASU 2022-02 also updates the requirements related to accounting for credit losses under ASC 326 and adds enhanced disclosures for creditors with respect to loan refinancings and restructurings for borrowers experiencing financial difficulty. The amendments in this update will be effective for fiscal years beginning after December 15, 2022 for entities that have adopted the amendments in ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments . The Company is evaluating the additional disclosure requirements and does not expect them to have a material effect on the consolidated financial statements.
Segment Information	Segment Information : The Company’s business is conducted through two business segments: (1) its banking segment (“Banking”), which involves the delivery of loan and deposit products to customers, and (2) Peapack Private, which includes asset management services provided for individuals and institutions. Management uses certain methodologies to allocate income and expense to the business segments. The Banking segment includes: commercial (includes C&I and equipment financing), commercial real estate, multifamily, residential and consumer lending activities; treasury management services; C&I advisory services; escrow management; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support sales. Peapack Private includes: investment management services for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian; and other financial planning and advisory services. This segment also includes the activity from the Delaware subsidiary, PGB Trust and Investments of Delaware. Wealth management fees are primarily earned over time as the Company provides the contracted monthly or quarterly services and are generally assessed based on a tiered scale of the market value of assets under management and/or administration (“AUM”) at month-end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed (i.e. trade date).
Cash and Cash Equivalents	Cash and Cash Equivalents: For purposes of the statements of cash flows, cash and cash equivalents include cash and due from banks, interest-earning deposits and federal funds sold. Generally, federal funds are sold for one-day periods. Cash equivalents are of original maturities of 90 days or less. Net cash flows are reported for customer loan and deposit transactions and short-term borrowings with original maturities of 90 days or less.
Interest-Earning Deposits in Other Financial Institutions	Interest-Earning Deposits in Other Financial Institutions : Interest-earning deposits in other financial institutions mature within one year and are carried at cost.
Securities	Securities : Prior to January 1, 2022, Management evaluated securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market conditions warranted. For securities in an unrealized loss position, Management considered the extent and duration of the unrealized loss and the financial condition and near-term prospects of the issuer. Management also assessed whether it intended to sell, or it is more likely than not that it was required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that did not meet the aforementioned criteria, the amount of impairment was split into two components as follows: (1) other-than-temporary impairment related to credit loss, which would be recognized through the income statement and (2) other-than-temporary impairment related to other factors, which would be recognized in other comprehensive income. Effective January 1, 2022, upon the adoption of ASU 2016-13, debt securities available-for-sale are measured at fair value and subject to impairment testing. When an available-for-sale debt securities is considered impaired, the Company must determine if the decline in fair value has resulted from a credit-related loss or other factors and then, (1) recognize an allowance for credit losses ("ACL") by a charge to earnings for the credit-related component (if any) of the decline in fair value, and (2) recognize in other comprehensive income (loss) any non-credit related components of the fair value change. If the amount of the amortized cost basis expected to be recovered increases in a future period, the valuation reserve would be reduced, but not more than the amount of the current existing reserve for that security. Debt securities are classified as held to maturity and carried at amortized cost when Management has the positive intent and ability to hold them to maturity. Under ASU 2016-13, held-to-maturity securities in a loss position are evaluated to determine if the decline in fair value has resulted from a credit-related loss or other factors and then, recognize an ACL through a charge to earnings for the decline in fair value. The Company also has an investment in a Community Reinvestment Act ("CRA") investment fund, which is classified as an equity security. Interest income includes amortization of purchase premiums and discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated and premiums on callable debt securities, which are amortized to the earliest call date. Gains and losses on sales are recorded on the trade date and determined using the specific identification method.
Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock	Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock: The Bank is a member of the FHLB system. Members are required to own a certain amount of FHLB stock, based on the level of borrowings and other factors. FHLB stock is carried at cost, classified as a restricted security and periodically evaluated for impairment based on ultimate recovery of par value. Dividends are reported as income. The Bank is also a member of the Federal Reserve Bank of New York and required to own a certain amount of FRB stock. FRB stock is carried at cost and classified as a restricted security. Dividends are reported as income.
Loans Held for Sale	Loans Held for Sale: Mortgage loans originated with the intent to sell in the secondary market are carried at fair value, as determined by outstanding commitments from investors. Mortgage loans held for sale are generally sold with servicing rights released; therefore, no servicing rights are recorded. Gains and losses on sales of mortgage loans, shown as gain on sale of loans on the Statement of Income, are based on the difference between the selling price and the carrying value of the related loan sold. SBA loans originated with the intent to sell in the secondary market are carried at the lower of cost or fair value. SBA loans are generally sold with the servicing rights retained. Gains and losses on the sale of SBA loans are based on the difference between the selling price and the carrying value of the related loan sold. Total SBA loans serviced totaled $ 152.2 million and $ 97.5 million as of December 31, 2022 and 2021, respectively. SBA loans held for sale totaled $ 17.2 million and $ 32.5 million as of December 31, 2022 and 2021, respectively. The servicing asset recorded was not material. Loans originated with the intent to hold and subsequently transferred to loans held for sale are carried at the lower of cost or fair value. These are loans that the Company no longer has the intent to hold for the foreseeable future.
Loans	Loans: Loans that Management has the intent and ability to hold for the foreseeable future or until maturity are stated at the principal amount outstanding. Interest on loans is recognized based upon the principal amount outstanding. Loans are stated at face value, less purchased premium and discounts and net deferred fees. Loan origination fees and certain direct loan origination costs are deferred and recognized on a level-yield method, over the life of the loan as an adjustment to the loan’s yield. The definition of recorded investment in loans includes accrued interest receivable and deferred fees/cost, however, for the Company’s loan disclosures, accrued interest and deferred fees/costs was excluded as the impact was not material. Loans are considered past due when they are not paid within 30 days in accordance with contractual terms. The accrual of income on loans, including impaired loans, is discontinued if, in the opinion of Management, principal or interest is not likely to be paid in accordance with the terms of the loan agreement, or when principal or interest is past due 90 days or more. All interest accrued but not received for loans placed on nonaccrual are reversed against interest income. Payments received on nonaccrual loans are recorded as principal payments, but do not diminish the borrower’s obligation. A nonaccrual loan is returned to accrual status only when interest and principal payments are brought current and future payments are reasonably assured, generally after the Bank receives contractual payments for a minimum of six consecutive months. Commercial loans are generally charged off, in whole or in part, after an analysis is completed which indicates that collectability of the full principal balance is in doubt. Consumer loans are generally charged off after they become 120 days past due. Subsequent payments are credited to income only if collection of principal is not in doubt. If principal and interest payments are brought contractually current and future collectability is reasonably assured, loans are returned to accrual status. Nonaccrual mortgage loans are generally charged off when the value of the underlying collateral does not cover the outstanding principal balance. The majority of the Company’s loans are secured by real estate in New Jersey, metropolitan New York and, to a lesser extent, Pennsylvania.
Allowance for Loan Losses	Allowance for Credit Losses: On January 1, 2022, the Company adopted ASU 2016-13, Topic 326, which replaced the incurred loss methodology with CECL for financial instruments measured at amortized cost and other commitments to extend credit. CECL requires the immediate recognition of estimated credit losses expected to occur over the estimated remaining life of the asset. The forward-looking concept of CECL requires loss estimates to consider historical experience, current conditions and reasonable and supportable economic forecasts of future events and circumstances. The allowance for credit losses ("ACL") on loans held for investment is the combination of the allowance for loan losses and the reserve for unfunded loan commitments. The allowance for loan losses is reported as a reduction of the amortized cost basis of loans, while the reserve for unfunded loan commitments is included within "other liabilities" on the Consolidated Statements of Condition. The estimate of credit loss incorporates assumptions for both the likelihood and amount of funding over the estimated life of the commitments, including adjustments for current conditions and reasonable and supportable forecasts. Management periodically reviews and updates its assumptions for estimated funding rates. The amortized cost basis of loans does not include accrued interest receivable, which is included in "accrued interest receivable" on the Consolidated Statements of Condition. The "Provision for credit losses" on the Consolidated Statements of Income is a combination of the provision for credit losses and the provision for unfunded loan commitments. Allowance for Loan Losses under incurred methodology prior to CECL Adoption on January 1, 2022 The allowance for loan and lease losses was a valuation allowance for loan losses that was Management’s estimate of probable incurred losses in the loan portfolio. Under this accounting method, the process to determine reserves utilized analytical tools and Management judgment and was reviewed on a quarterly basis. When Management was reasonably certain that a loan balance was not fully collectable, an impairment analysis was completed whereby a specific reserve could be established or a full or partial charge off was recorded against the allowance. Subsequent recoveries, if any, were credited to the allowance. Management estimated the allowance balance required using past loan loss experience, the size and composition of the portfolio, information about specific borrower situations, estimated collateral values, asset quality information, economic conditions and other factors. Allocations of the allowance could be made for specific loans via a specific reserve, but the entire allowance was available for any loan that, in Management’s judgment, should be charged off. The allowance consisted of specific and general components. The specific component of the allowance relates to loans that were individually classified as impaired. A loan was impaired when, based on current information and events, it was probable that the Bank would be unable to collect all amounts due according to the contractual terms of the loan agreement. Factors considered by Management in determining impairment included payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally were not classified as impaired. Management determined the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Loans are individually evaluated for impairment when they were classified as substandard by Management. If a loan was considered impaired, a portion of the allowance could be allocated so that the loan was reported, net, at the present value of estimated future cash flows using the loan’s existing rate or if repayment is expected solely from the underlying collateral, the loan principal balance was compared to the fair value of collateral less estimated disposition costs to determine the need, if any, for a charge off. The general component of the allowance covers non-impaired loans and was based primarily on the Company’s historical loss experience adjusted for current factors. The historical loss experience was determined by portfolio segment and was based on the actual loss history experienced by the Company on a weighted average basis over the previous three years. This actual loss experience was adjusted by other qualitative factors based on the risks present for each portfolio segment. These qualitative factors included consideration of the following: levels of and trends in delinquencies, charge-offs and impaired loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures and practices; experience, ability and depth of lending management and other relevant staffing and experience; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. For loans that are graded as non-impaired, the Company allocated a higher general reserve percentage than pass-rated loans using a multiple that was calculated annually through a migration analysis. At December 31, 2021 and 2020, the multiple was 2.25 times for non-impaired special mention loans and 3.25 times for non-impaired substandard loans. ACL in accordance with CECL methodology With respect to pools of similar loans that are collectively evaluated, an appropriate level of allowance is determined by portfolio segment using a discounted cash flow ("DCF") model. The DCF model captures losses over the historical charge-off and prepayment cycle and applies those losses at a loan level over the remaining maturity of the loan. The model then calculates a historical loss rate using the average losses over the reporting period, which is then applied to each segment utilizing a standard reversion rate. This loss rate is then supplemented with adjustments for reasonable and supportable forecasts of relevant economic indicators, including but not limited to unemployment rates, national gross domestic product and other indices. Forecast data is sourced from Moody's Analytics, a firm widely recognized for its research, analysis, and economic forecasts. Expected credit losses are estimated over the contractual term of the loans, adjusted for expected prepayments when appropriate. Also included in the ACL are qualitative factors based on the risks present for each portfolio segment. These qualitative factors include the following: levels of and trends in delinquencies and impaired loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures and practices; experience, ability and depth of lending management and other relevant staffing and experience; industry conditions; and effects of changes in credit concentrations. It is also possible that these factors could include social, political, economic, and terrorist events or activities. All of these factors are susceptible to change, which may be significant. As a result of this detailed process, the ACL results in two forms of allocations, quantitative and qualitative. These two components represent the total ACL deemed adequate to cover current expected credit losses in the loan portfolio. During the fourth quarter of 2022, the Company transitioned CECL modeling tools. Both the model used for CECL implementation and the new model used beginning in the fourth quarter use a bottom-up allowance methodology and Discounted Cash Flow ("DCF") model based on an analysis of the probability of default ("PD") and loss given default ("LGD") to determine the expected loss by loan segment. This change did not result in a material impact to the Company's financial statements. When management identifies loans that do not share common risk characteristics (i.e., are not similar to other loans within a pool) they are evaluated on an individual basis. These loans are not included in the collective evaluation. For loans identified as having a likelihood of foreclosure or that the borrower is experiencing financial difficulty, a collateral dependent approach is used. These are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral. Under CECL, for collateral dependent loans, the Company has adopted the practical expedient method to measure the allowance for credit losses based on the fair value of collateral. The allowance for credit losses is calculated on an individual loan basis based on the shortfall between the fair value of the loan's collateral, which is adjusted for liquidation costs/discounts, and amortized cost. If the fair value of the collateral exceeds the amortized cost, no allowance is required. The CECL methodology requires a significant amount of management judgment in determining the appropriate allowance for credit losses. Several of the steps in the methodology involve judgment and are subjective in nature including, among other things: segmenting the loan portfolio; determining the amount of loss history to consider; selecting predictive econometric regression models that use appropriate macroeconomic variables; determining the methodology to forecast prepayments; selecting the most appropriate economic forecast scenario; determining the length of the reasonable and supportable forecast and reversion periods; estimating expected utilization rates on unfunded loan commitments; and assessing relevant and appropriate qualitative factors. In addition, the CECL methodology is dependent on economic forecasts, which are inherently imprecise and will change from period to period. Although the allowance for credit losses is considered appropriate, there can be no assurance that it will be sufficient to absorb future losses. In determining an appropriate amount for the allowance, the Bank segments and evaluates the loan portfolio based on Federal call report codes, which are based on collateral or purpose. The following portfolio classes have been identified: Primary Residential Mortgages . The Bank originates one to four family residential mortgage loans in the Tri-State area (New York, New Jersey and Connecticut), Pennsylvania and Florida. Loans are secured by first liens on the primary residence or investment property. Primary risk characteristics associated with residential mortgage loans typically involve major living or lifestyle changes to the borrower, including unemployment or other loss of income; unexpected significant expenses, such as for major medical issues or catastrophic events; and divorce or death. In addition, residential mortgage loans that have adjustable rates could expose the borrower to higher debt service requirements in a rising interest rate environment. Further, real estate values could drop significantly and cause the value of the property to fall below the loan amount, creating additional potential loss exposure for the Bank. Junior Lien Loan on Residence (which include home equity lines of credit) . The Bank provides junior lien loans (“JLL”) and revolving home equity lines of credit against one to four family properties in the Tri-State area. These loans are subordinate to a first mortgage, which may be from another lending institution. Primary risk characteristics associated with JLLs and home equity lines of credit typically involve: major living or lifestyle changes to the borrower, including unemployment or other loss of income; unexpected significant expenses, such as for major medical issues or catastrophic events; and divorce or death. Further, real estate values could drop significantly and cause the value of the property to fall below the loan amount, creating additional potential loss exposure for the Bank. In addition, home equity lines of credit typically are made with variable or floating interest rates, which could expose the borrower to higher debt service requirements in a rising interest rate environment. Multifamily. The Bank provides mortgage loans for multifamily properties (i.e., buildings which have five or more residential units). Multifamily loans are expected to be repaid from the cash flows of the underlying property so the collective amount of rents must be sufficient to cover all operating expenses, property management and maintenance, taxes and debt service. Increases in vacancy rates, interest rates of other changes in general economic conditions can have an impact on the borrower and its ability to repay the loan. Owner-Occupied Commercial Real Estate Loans . The Bank provides mortgage loans for owner-occupied commercial real estate properties in the Tri-State area and Pennsylvania. Commercial real estate properties primarily include retail buildings/shopping centers, hotels, office/medical buildings and industrial/warehouse space. Some properties are mixed use. Commercial real estate loans are generally considered to have a higher degree of credit risk as they may be dependent on the ongoing success and operating viability of a fewer number of tenants who are occupying the property and who may have a greater degree of exposure to economic conditions. Investment Commercial Real Estate Loans. The Bank provides mortgage loans for properties managed as an investment property (non-owner-occupied) in the Tri-State area and Pennsylvania. Non-owner-occupied properties primarily include retail buildings/shopping centers, hotels, office/medical buildings and industrial/warehouse space. Some properties are considered "mixed use" as they are a combination of building types, such as a building with retail space on the ground floor and either residential apartments or office suites on the upper floors. Commercial real estate loans are generally considered to have a higher degree of credit risk as they may be dependent on the ongoing success and operating viability of a fewer number of tenants who are occupying the property and who may have a greater degree of exposure to economic conditions. Commercial and Industrial Loans . The Bank provides lines of credit and term loans to operating companies for business purposes. The loans are generally secured by business assets such as accounts receivable, inventory, business vehicles and equipment as well as the stock of the company, if privately held. Commercial and industrial loans are typically repaid first by the cash flows generated by the borrower’s business operation. The primary risk characteristics are specific to the underlying business and its ability to generate sustainable profitability and resulting positive cash flows. Factors that may influence a business’ profitability include, but are not limited to, demand for its products or services, quality and depth of management, degree of competition, regulatory changes, and general economic conditions. To mitigate the risk characteristics of commercial and industrial loans, these loans often include commercial real estate as collateral and the Bank often requires more frequent reporting requirements from the borrower in order to better monitor its business performance. However, the ability of the Bank to foreclose and realize sufficient value from the assets is often highly uncertain. Leasing Finance . PCC offers a range of finance solutions nationally. PCC provides term loans and leases secured by assets financed for U.S. based mid-size and large companies. Facilities tend to be fully drawn under fixed rate terms. PCC serves a broad range of industries including transportation, manufacturing, heavy construction and utilities. Asset risk in PCC’s portfolio is generally recognized through changes to loan income, or through changes to lease related income streams due to fluctuations in lease rates. Changes to lease income can occur when the existing lease contract expires, the asset comes off lease or the business seeks to enter a new lease agreement. Asset risk may also change depreciation, resulting from changes in the residual value of the operating lease asset or through impairment of the asset carrying value, which can occur at any time during the life of the asset. Credit risk in PCC’s portfolio generally results from the potential default of borrowers or lessees, which may be driven by customer specific or broader industry related conditions. Credit losses can impact multiple parts of the income statement including loss of interest/lease/rental income and/or higher costs and expenses related to the repossession, refurbishment, re-marketing and or re-leasing of assets. Construction. The Bank provides commercial construction loans for properties located in the Tri-state area. Risks common to commercial construction loans are cost overruns, changes in market demand for property, inadequate long-term financing arrangements and declines in real estate values. Changes in market demand for property could lead to longer marketing times resulting in higher carrying costs, declining values, and higher interest rates. Consumer and Other . These are loans to individuals for household, family and other personal expenditures as well as obligations of states and political subdivisions in the U.S. This also represents all other loans that cannot be categorized in any of the previous mentioned loan segments. Consumer loans generally have higher interest rates and shorter terms than residential loans but tend to have higher credit risk due to the type of collateral securing the loan or in some cases the absence of collateral. A troubled debt restructuring (“TDR”) is a type of loan modification in which the Bank, for legal, economic or business reasons related to a borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider. TDRs are impaired and are generally measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a TDR is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral, less estimated disposition costs. For TDRs that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for credit losses. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act became law, which provides entities with optional temporary relief from certain accounting and financial reporting requirements under U.S. GAAP. The CARES Act allowed financial institutions to suspend application of certain then-current TDR accounting guidance under Accounting Standards Codification (“ASC”) 310-40 for loan modifications related to the COVID-19 pandemic made between March 1, 2020 and the earlier of December 31, 2020 or 60 days after the end of the COVID-19 national emergency, provided certain criteria are met. The revised CARES Act extended TDR relief to loan modifications through January 1, 2022. This relief could be applied to loan modifications for borrowers that were not more than 30 days past due as of December 31, 2019 and to loan modifications that deferred or delayed the payment of principal or interest or change the interest rate on the loan. In April 2020, federal and state banking regulators issued the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus to provide further interpretation of when a borrower is experiencing financial difficulty, specifically indicating that if the modification is either short-term (e.g., six months) or mandated by a federal or state government in response to the COVID-19 pandemic, the borrower will not be considered to be experiencing financial difficulty under ASC 310-40. The Company approved total loan modifications under the CARES Act of $ 947.0 million, of which none remain outstanding. Another key program under the CARES Act is the Paycheck Protection Program (“PPP”) administered by the SBA which provided funding to qualifying businesses and organizations. Under this program, the Company provided funding to qualified borrowers in the amount of approximately $ 650.0 million. In the third quarter of 2020 and second quarter of 2021, the Company sold approximately $ 355.0 million and $ 56.5 million, respectively, of such loans, servicing rights released, to a third party. The Company also referred approximately $ 124 million of PPP loans to a third party during the first six months of 2021. The Company has approximately $ 1.7 million of PPP loans remaining on its balance sheet as of December 31, 2022 and believes that substantially all of these loans will be forgiven by the SBA. These loans are fully guaranteed by the SBA and provide for full forgiveness of the loans during a specified forgiveness period that meet specific guidelines provided by the SBA. Loans that do not meet the forgiveness criteria have a repayment period of two or five years .
Leases	Leases : At inception, contracts are evaluated to determine whether the contract constitutes a lease agreement. For contracts that are determined to be an operating lease, a corresponding right-of-use (“ROU”) asset and operating lease liability are recorded in separate line items on the statement of condition. An ROU asset represents the Company’s right to use an underlying asset during the lease term and a lease liability represents the Company’s commitment to make contractually obligated lease payments. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease and are based on the present value of lease payments over the lease term. The measurement of the operating lease ROU asset includes any lease payments made. If the rate implicit in the lease is not readily determinable, the incremental collateralized borrowing rate is used to determine the present value of lease payments. This rate gives consideration to the applicable FHLB over-collateralized borrowing rates and is based on the information available at the commencement date. The Company has elected to apply the short-term lease measurement and recognition exemption to leases with an initial term of 12 months or less; therefore, these leases are not recorded on the Company’s statement of condition, but rather, lease expense is recognized over the lease term on a straight-line basis. The Company’s lease agreements may include options to extend or terminate the lease. The Company’s decision to exercise renewal options is based on an assessment of its current business needs and market factors at the time of the renewal. The Company maintains certain property and equipment under direct financing and operating leases. Substantially all of the leases in which the Company is the lessee are comprised of real estate property for branches and office space and are classified as operating leases. The ROU asset is measured at the amount of the lease liability adjusted for lease incentives received, and cumulative prepaid or accrued rent if the lease payments are uneven throughout the lease term, any unamortized initial direct costs, and any impairment of the ROU asset. Operating lease expense consists of: a single lease cost allocated over the remaining lease term on a straight-line basis, variable lease payments not included in the lease liability, and any impairment of the ROU asset. There are no terms or conditions related to residual value guarantees and no restrictions or covenants that would impact the Company’s ability to pay dividends or to incur additional financial obligations.
Premises and Equipment	Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost, less accumulated depreciation. Depreciation charges are computed using the straight-line method. Equipment and other fixed assets are depreciated over the estimated useful lives, which range from three to ten years . Premises are depreciated over the estimated useful life of 40 years, while leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the term of the lease. Expenditures for maintenance and repairs are expensed as incurred. The cost of major renewals and improvements are capitalized. Gains or losses realized on routine dispositions are recorded as other income or other expense.
Other Real Estate Owned (OREO)	Other Real Estate Owned (OREO): OREO acquired through foreclosure on loans secured by real estate is initially recorded at fair value, less estimated costs to sell. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The assets are subsequently accounted for at the lower of cost or fair value, as established by a current appraisal, less estimated costs to sell. Any write-downs at the date of foreclosure are charged to the allowance for loan losses. Expenses incurred to maintain these properties, losses resulting from write-downs after the date of foreclosure, and realized gains and losses upon sale of the properties are included in other non-interest expense and other non-interest income, as appropriate.
Bank Owned Life Insurance (BOLI)	Bank Owned Life Insurance (BOLI): The Bank has purchased life insurance policies on certain key executives. BOLI is recorded at the amount that can be realized under the insurance contract at the statement of condition, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.
Loan Commitments and Related Financial Instruments	Loan Commitments and Related Financial Instruments: Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded.
Derivatives	Derivatives: At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation. For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. For cash flow hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as non-interest income. When hedge accounting is discontinued on a fair value hedge that no longer qualifies as an effective hedge, the derivative continues to be reported at fair value in the statement of condition, but the carrying amount of the hedged item is no longer adjusted for future changes in fair value. The adjustment to the carrying amount of the hedged item that existed at the date hedge accounting is discontinued is amortized over the remaining life of the hedged item into earnings. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in non-interest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the statement of condition or to specific firm commitments or forecasted transactions. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. The Company also offers facility specific / loan level swaps to its customers and offsets its exposure from such contracts by entering into mirror image swaps with a financial institution / swap counterparty (loan level/back-to-back swap program). The customer accommodations and any offsetting swaps are treated as non-hedging derivative instruments which do not qualify for hedge accounting (“standalone derivatives”). The notional amount of the swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual contracts. The fair value of the swaps is recorded as both an asset and a liability, in other assets and other liabilities, respectively, in equal amounts for these transactions. The Company is exposed to losses if a customer counterparty fails to make its payments under a contract in which the Company is in a net receiving position. At this time, the Company anticipates that its counterparties will be able to fully satisfy their obligations under the agreements. All of the contracts to which the Company is a party settle monthly. Further, the Company has netting agreements with the dealers with which it does business.
Income Taxes	Income Taxes: The Company files a consolidated Federal income tax return. State income tax returns are filed either on a combined or separate company basis based on the current laws and regulations of the state. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in its financial statements or tax returns. The measurement of deferred tax assets and liabilities is based on the enacted tax rates. Such tax assets and liabilities are adjusted for the effect of a change in tax rates in the period of enactment. The Company recognizes a tax position as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50 percent likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company is no longer subject to examination by the U.S. Federal tax authorities for years prior to 2019 or by state and local tax authorities for years prior to 2017. The Company recognizes interest and/or penalties related to income tax matters in income tax expense.
Employee's Savings and Investment Plan	Employee’s Savings and Investment Plan: The Company has a 401(k) profit-sharing and investment plan, which covers substantially all salaried employees over the age of 21 with at least 12 months of service.
Stock-Based Compensation	Stock-Based Compensation: Compensation cost is recognized for stock options and restricted stock awards/units issued to employees and non-employee directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the fair value of the Company’s common stock at the date of grant is used for restricted stock awards/units. Compensation expense is recognized over the required service or performance period, generally defined as the vesting period. For awards with time-based vesting, compensation expense is recognized on a straight-line basis over the requisite service period. The stock options granted under these plans are exercisable at a price equal to the fair value of common stock on the date of grant and expire not more than ten years after the date of grant.
Employee Stock Purchase Plan	Employee Stock Purchase Plan (“ESPP”): The ESPP provides for the granting of rights to purchase up to 150,000 shares of Peapack-Gladstone Financial Corporation common stock. In May 2020, shareholders approved an increase of 200,000 shares of Peapack-Gladstone Financial Corporation common stock to be issued under the ESPP. The ESPP allows for the purchase of shares during four three-month Offering Periods of each calendar year. The Offering Periods end on February 16, May 16, August 16 and November 16 of each calendar year. Each participant in the Offering Period is granted an option to purchase a number of shares and may contribute between one percent and 15 percent of their compensation. At the end of each Offering Period, the number of shares to be purchased by the employee is determined by dividing the employee’s contributions accumulated during the Offering Period by the applicable purchase price. The purchase price is an amount equal to 85 percent of the closing market price of a share of common stock on the purchase date. Participation in the ESPP is voluntary and employees can cancel their purchases at any time during the period without penalty. The fair value of each share purchase right is determined using the Black-Scholes option pricing model. The Company recorded $ 145,000 , $ 126,000 and $ 224,000 of expense in salaries and employee benefits expense for the twelve months ended December 31, 2022, 2021 and 2020, respectively, related to the ESPP. Total shares issued under the ESPP for the twelve months ended December 31, 2022, 2021 and 2020 were 25,023 , 26,693 and 56,849 , respectively.
Earnings Per Share ("EPS")	Earnings Per Share (“EPS”): In calculating earnings per share, there are no adjustments to net income available to common shareholders, which is the numerator of both the Basic and Diluted EPS. The weighted average number of shares outstanding used in the denominator for Diluted EPS is increased over the denominator used for Basic EPS by the effect of potentially dilutive common stock equivalents utilizing the treasury stock method. Common stock options outstanding are common stock equivalents, as are restricted stock units until vested. The following table shows the calculation of both basic and diluted earnings per share for the years ended December 31, 2022, 2021 and 2020: (In thousands, except share and per share data) 2022 2021 2020 Net income available to common shareholders $ 74,246 $ 56,622 $ 26,192 Basic weighted average shares outstanding 18,161,605 18,788,679 18,896,825 Plus: common stock equivalents 406,493 503,923 184,362 Diluted weighted average shares outstanding 18,568,098 19,292,602 19,081,187 Earnings per share: Basic $ 4.09 $ 3.01 $ 1.39 Diluted 4.00 2.93 1.37 Restricted stock units totaling 291,462 , 264,317 and 393,501 were not included in the computation of diluted earnings per share because they were anti-dilutive as of December 31, 2022, 2021 and 2020, respectively. A nti-dilutive shares are common stock equivalents with weighted average grant date values in excess of the average market value for the periods presented.
Loss Contingencies	Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are any such matters that will have a material effect on the financial statements.
Restrictions on Cash	Restrictions on Cash: Cash on hand or on deposit with the Federal Reserve Bank of New York was required to meet regulatory reserve and clearing requirements.
Comprehensive Income	Comprehensive Income: Comprehensive income consists of net income and the change during the period in the Company’s net unrealized gains or losses on securities available for sale and unrealized gains and losses on cash flow hedge, net of tax, less adjustments for realized gains and losses.
Shareholders' Equity	Shareholders’ Equity: Treasury stock is carried at cost.
Transfers of Financial Assets	Transfers of Financial Assets: Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Goodwill is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree (if any), over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized but tested for impairment at least annually or more frequently if events and circumstances exist that indicate that a goodwill impairment test should be performed. Goodwill was primarily attributable to the Bank's wealth acquisitions. Management monitors the impact of changes in the financial markets and includes these assessments in our impairment process. Other intangible assets primarily consist of customer relationship intangible assets arising from acquisitions are amortized on an accelerated method over their estimated useful lives, which range from 5 to 15 years .
Reclassification	Reclassification: Certain reclassifications have been made in the prior periods’ financial statements in order to conform to the 2022 presentation and had no effect on the consolidated income statements or the consolidated statements of changes in shareholders’ equity.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of Impact to Financial Statements Upon Adoption of ASC 326	The following table illustrates the impact to our financial statements as of January 1, 2022 upon adoption of ASC 326: January 1, 2022 (In thousands) Impact to Consolidated Statement of Condition from ASC-326 Adoption Tax Effect Impact to Retained Earnings from ASC-326 Adoption Allowance for credit losses on loans $ 5,536 $ ( 1,490 ) $ 4,046 Allowance for credit losses on off-balance sheet commitments ( 188 ) 51 ( 137 ) Total impact from ASC 326 adoption $ 5,348 $ ( 1,439 ) $ 3,909
Schedule of Calculation of Basic and Diluted Earnings per Share	The following table shows the calculation of both basic and diluted earnings per share for the years ended December 31, 2022, 2021 and 2020: (In thousands, except share and per share data) 2022 2021 2020 Net income available to common shareholders $ 74,246 $ 56,622 $ 26,192 Basic weighted average shares outstanding 18,161,605 18,788,679 18,896,825 Plus: common stock equivalents 406,493 503,923 184,362 Diluted weighted average shares outstanding 18,568,098 19,292,602 19,081,187 Earnings per share: Basic $ 4.09 $ 3.01 $ 1.39 Diluted 4.00 2.93 1.37

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Investment Securities Available For Sale [Abstract]
Schedule of Amortized Cost and Approximate Fair Value of Securities Available for Sale	A summary of amortized cost and approximate fair value of investment securities available for sale and held to maturity included in the consolidated statements of condition as of December 31, 2022 and 2021 follows: 2022 Gross Gross Allowance Amortized Unrealized Unrealized For Credit Fair (In thousands) Cost Gains Losses Losses Value Securities Available for Sale: U.S. government-sponsored agencies $ 244,774 $ — $ ( 54,232 ) $ — $ 190,542 Mortgage-backed securities-residential 372,471 27 ( 46,760 ) — 325,738 SBA pool securities 31,934 1 ( 4,508 ) — 27,427 State and political subdivisions 1,866 — ( 17 ) — 1,849 Corporate bond 10,000 — ( 908 ) — 9,092 Total securities available for sale $ 661,045 $ 28 $ ( 106,425 ) $ — $ 554,648 Securities Held to Maturity: U.S. government-sponsored agencies $ 40,000 $ — $ ( 4,563 ) $ — $ 35,437 Mortgage-backed securities-residential 62,291 — ( 10,541 ) — 51,750 Total securities held to maturity $ 102,291 $ — $ ( 15,104 ) $ — $ 87,187 2021 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Securities Available for Sale: U.S. government-sponsored agencies $ 280,045 $ — $ ( 7,824 ) $ 272,221 Mortgage-backed securities-residential 481,062 3,849 ( 7,937 ) 476,974 SBA pool securities 40,649 12 ( 1,100 ) 39,561 State and political subdivisions 5,431 45 — 5,476 Corporate bond 2,500 21 — 2,521 Total securities available for sale $ 809,687 $ 3,927 $ ( 16,861 ) $ 796,753 Securities Held to Maturity: U.S. government-sponsored agencies $ 40,000 $ 7 $ ( 25 ) $ 39,982 Mortgage-backed securities-residential 68,680 67 ( 269 ) 68,478 Total securities held to maturity $ 108,680 $ 74 $ ( 294 ) $ 108,460
Schedule of Securities by Maturity	The amortized cost and fair value of investment securities available for sale and held to maturity as of December 31, 2022, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity, such as mortgage-backed securities and SBA pool securities are shown separately. (In thousands) Available for Sale Held to Maturity Maturing in: Amortized Cost Fair Value Amortized Cost Fair Value One year or less $ 1,866 $ 1,849 $ — $ — After one year through five years — — 30,000 26,771 After five years through ten years 149,996 122,413 10,000 8,666 After ten years 104,778 77,221 — — 256,640 201,483 40,000 35,437 Mortgage-backed securities-residential 372,471 325,738 62,291 51,750 SBA pool securities 31,934 27,427 — — Total $ 661,045 $ 554,648 $ 102,291 $ 87,187
Summary of Gross Gains, Gross Losses and Net Tax Benefit Related to Proceeds on Sales of Securities Available for Sale	The following is a summary of gross gains, gross losses and net tax benefit related to proceeds on sales of securities available for sale for the years ended December 31: (In thousands) 2022 2021 2020 Proceeds on sales $ 118,972 $ — $ — Gross gains 3 — — Gross losses ( 6,612 ) — — Net tax benefit 1,581 — —
Schedule of Available for Sale Securities with Continuous Unrealized Losses and Approximate Fair Value of Investments	The following table presents the Company’s available for sale and held to maturity securities with continuous unrealized losses and the approximate fair value of these investments as of December 31, 2022 and 2021. 2022 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities Available for Sale: U.S. government- $ — $ — $ 190,542 $ ( 54,232 ) $ 190,542 $ ( 54,232 ) Mortgage-backed 82,907 ( 4,082 ) 174,557 ( 42,678 ) 257,464 ( 46,760 ) SBA pool securities 3,377 ( 332 ) 23,256 ( 4,176 ) 26,633 ( 4,508 ) State and political subdivisions 1,579 ( 17 ) — — 1,579 ( 17 ) Corporate bond 9,092 ( 908 ) — — 9,092 ( 908 ) Total securities available for sale $ 96,955 $ ( 5,339 ) $ 388,355 $ ( 101,086 ) $ 485,310 $ ( 106,425 ) Securities Held to Maturity: U.S. government- $ 13,174 $ ( 1,826 ) $ 22,263 $ ( 2,737 ) $ 35,437 $ ( 4,563 ) Mortgage-backed 15,635 ( 3,585 ) 36,115 ( 6,956 ) 51,750 ( 10,541 ) Total securities held to maturity $ 28,809 $ ( 5,411 ) $ 58,378 $ ( 9,693 ) $ 87,187 $ ( 15,104 ) Total securities $ 125,764 $ ( 10,750 ) $ 446,733 $ ( 110,779 ) $ 572,497 $ ( 121,529 ) 2021 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities Available for Sale: U.S. government- $ 243,187 $ ( 6,858 ) $ 29,034 $ ( 966 ) $ 272,221 $ ( 7,824 ) Mortgage-backed 265,403 ( 7,053 ) 33,455 ( 884 ) 298,858 ( 7,937 ) SBA pool securities 22,057 ( 567 ) 10,562 ( 533 ) 32,619 ( 1,100 ) Total securities available for sale $ 530,647 $ ( 14,478 ) $ 73,051 $ ( 2,383 ) $ 603,698 $ ( 16,861 ) Securities Held to Maturity: U.S. government- $ 24,975 $ ( 25 ) $ — $ — $ 24,975 $ ( 25 ) Mortgage-backed 48,307 ( 269 ) — — 48,307 ( 269 ) Total securities held to maturity $ 73,282 $ ( 294 ) $ — $ — $ 73,282 $ ( 294 ) Total securities $ 603,929 $ ( 14,772 ) $ 73,051 $ ( 2,383 ) $ 676,980 $ ( 17,155 )

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of composition of loans categorized by the type of loan	The following table presents loans outstanding, by type of loan, as of December 31: % of Total % of Total (Dollars in thousands) 2022 Loans 2021 Loans Residential mortgage $ 525,756 9.95 % $ 498,300 10.37 % Multifamily mortgage 1,863,915 35.27 1,595,866 33.20 Commercial mortgage 624,625 11.82 662,626 13.78 Commercial loans (including equipment financing) 2,194,094 41.51 1,955,157 40.67 Commercial construction 4,042 0.07 20,044 0.42 Home equity lines of credit 34,496 0.65 40,803 0.85 Consumer loans, including 38,014 0.72 33,687 0.70 Other loans 304 0.01 238 0.01 Total loans $ 5,285,246 100.00 % $ 4,806,721 100.00 % In determining an appropriate amount for the allowance, the Bank segments and aggregated the loan portfolio based on common characteristics. The following pool segments identified as of December 31, 2022 are based on the CECL methodology: % of Total (Dollars in thousands) 2022 Loans Primary residential mortgage $ 527,784 9.99 % Junior lien loan on residence 38,265 0.73 Multifamily property 1,863,915 35.29 Owner-occupied commercial real estate 272,009 5.15 Investment commercial real estate 1,044,125 19.77 Commercial and industrial 1,194,662 22.62 Lease financing 288,566 5.46 Construction 9,936 0.19 Consumer and other 42,319 0.80 Total loans $ 5,281,581 100.00 % Net deferred costs 3,665 Total loans including net deferred costs $ 5,285,246 The portfolio classes identified as of December 31, 2021 are based on the incurred loss methodology and are segmented by federal Call Report codes: % of Total (Dollars in thousands) 2021 Loans Primary residential mortgage $ 500,243 10.42 % Home equity lines of credit 40,803 0.85 Junior lien loan on residence 3,191 0.07 Multifamily property 1,595,866 33.23 Owner-occupied commercial real estate 252,603 5.26 Investment commercial real estate 1,003,979 20.90 Commercial and industrial (A) 992,332 20.66 Lease financing 345,868 7.20 Farmland/Agricultural production 6,871 0.14 Commercial construction 20,174 0.42 Consumer and other 40,828 0.85 Total loans $ 4,802,758 100.00 % Net deferred costs 3,963 Total loans including net deferred costs $ 4,806,721
Schedule of loans to executives and directors	The following table shows the changes in loans to officers, directors and their associates: (In thousands) 2022 2021 Balance, beginning of year $ 4,337 $ 3,801 New loans 448 845 Repayments ( 305 ) ( 309 ) Balance, at end of year $ 4,480 $ 4,337
Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual	The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2022 and 2021: 2022 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 2,339 $ — Junior lien loan on residence — — Owner-occupied commercial real estate — — Investment commercial real estate 11,208 — Commercial and industrial 3,662 — Lease financing 1,765 Total $ 18,974 $ — 2021 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 1,851 $ — Junior lien loan on residence 18 — Owner-occupied commercial real estate 458 — Investment commercial real estate 12,750 — Commercial and industrial 496 — Total $ 15,573 $ —
Schedule of aging of past due loans	The following tables present the recorded investment in past due loans as of December 31, 2022 and 2021 by class of loans, excluding nonaccrual loans: 2022 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 1,145 $ — $ — $ 1,145 Multifamily property 882 — — 882 Commercial and industrial 4,884 681 — 5,565 Total $ 6,911 $ 681 $ — $ 7,592 2021 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 639 $ — $ — $ 639 Commercial and industrial 7,825 142 — 7,967 Total $ 8,464 $ 142 $ — $ 8,606
Schedule of credit risk profile of loans	The following is a summary of the credit risk profile of loans by internally assigned grade as of December 31, 2022 based on originations for the periods indicated; the years represent the year of origination for non-revolving loans: Grade as of December 31, 2022 for Loans Originated During 2017 Revolving- (In thousands) 2022 2021 2020 2019 2018 and Prior Revolving Term Total Primary residential mortgage: Pass $ 118,864 $ 87,312 $ 62,540 $ 37,902 $ 27,209 $ 190,834 $ — $ 691 $ 525,352 Special mention — — — — — — — — — Substandard — — 547 1,044 141 700 — — 2,432 Doubtful — — — — — — — — — Total primary residential mortgages 118,864 87,312 63,087 38,946 27,350 191,534 — 691 527,784 Junior lien loan on residence: Pass 1,631 177 42 639 326 953 33,996 — 37,764 Special mention — — — — — — — — — Substandard — — — — — — 501 — 501 Doubtful — — — — — — — — — Total junior lien loan on residence 1,631 177 42 639 326 953 34,497 — 38,265 Multifamily property: Pass 488,657 678,507 118,220 224,129 33,884 305,628 1,246 1,425 1,851,696 Special mention — — — — — 1,696 — — 1,696 Substandard — — — 2,846 — 7,677 — — 10,523 Doubtful — — — — — — — — — Total multifamily property 488,657 678,507 118,220 226,975 33,884 315,001 1,246 1,425 1,863,915 Owner-occupied commercial real estate: Pass 25,315 43,916 20,679 12,244 22,422 126,237 608 20,588 272,009 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total owner-occupied commercial real estate 25,315 43,916 20,679 12,244 22,422 126,237 608 20,588 272,009 Investment commercial real estate: Pass 189,829 154,715 59,444 155,995 93,330 305,219 6,590 23,487 988,609 Special mention — — — 13,015 — 13,309 — 14,507 40,831 Substandard 11,208 — — 3,477 — — — — 14,685 Doubtful — — — — — — — — — Total investment commercial real estate 201,037 154,715 59,444 172,487 93,330 318,528 6,590 37,994 1,044,125 Commercial and industrial: Pass 421,072 217,887 76,307 80,359 26,792 5,559 303,526 29,750 1,161,252 Special mention 14,405 — 826 — 193 — 258 — 15,682 Substandard 1,553 1,892 2,148 3,894 277 71 7,893 — 17,728 Doubtful — — — — — — — — — Total commercial and industrial 437,030 219,779 79,281 84,253 27,262 5,630 311,677 29,750 1,194,662 Lease financing: Pass 73,155 71,925 58,262 48,942 24,408 8,125 — — 284,817 Special mention 1,984 — — — — — — — 1,984 Substandard — — — 1,765 — — — — 1,765 Doubtful — — — — — — — — — Total lease financing 75,139 71,925 58,262 50,707 24,408 8,125 — — 288,566 Construction loans: Pass — — — 1,439 — — 4,064 4,433 9,936 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total commercial construction loans — — — 1,439 — — 4,064 4,433 9,936 Consumer and other loans: Pass — 381 194 — — 5,753 31,287 4,704 42,319 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total consumer and other loans — 381 194 — — 5,753 31,287 4,704 42,319 Total: Pass 1,318,523 1,254,820 395,688 561,649 228,371 948,308 381,317 85,078 5,173,754 Special mention 16,389 — 826 13,015 193 15,005 258 14,507 60,193 Substandard 12,761 1,892 2,695 13,026 418 8,448 8,394 — 47,634 Doubtful — — — — — — — — — Total Loans $ 1,347,673 $ 1,256,712 $ 399,209 $ 587,690 $ 228,982 $ 971,761 $ 389,969 $ 99,585 $ 5,281,581
Schedule of the risk category of loans by class of loans	The table below presents, based on the most recent analysis performed, the risk category of loans by class of loans for December 31, 2021. 2021 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 494,444 $ 557 $ 5,242 $ — Home equity lines of credit 40,274 — 529 — Junior lien loan on residence 3,173 — 18 — Multifamily property 1,579,776 7,720 8,370 — Owner-occupied commercial real estate 251,229 663 711 — Investment commercial real estate 901,877 87,297 14,805 — Commercial and industrial 951,127 20,178 21,027 — Lease financing 345,868 — — — Secured by farmland and agricultural 6,871 — — — Commercial construction 20,099 75 — — Consumer and other loans 40,828 — — — Total $ 4,635,566 $ 116,490 $ 50,702 $ —
Schedule of loans modified as troubled debt restructurings	The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2022: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Loans Investment Investment Investment commercial real estate 1 $ 11,208 $ 11,208 Total 1 $ 11,208 $ 11,208 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2021: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Loans Investment Investment Primary residential mortgage 3 $ 603 $ 603 Junior lien loan on residence 1 18 18 Commercial and industrial 1 2,070 2,070 Total 5 $ 2,691 $ 2,691 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2020: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Loans Investment Investment Primary residential mortgage 3 $ 423 $ 423 Commercial and industrial 1 39 39 Total 4 $ 462 $ 462 The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2021 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Loans Investment Primary residential mortgage 1 $ 218 Total 1 $ 218 The following table presents loans by class modified as trouble debt restructurings during the year ended December 31, 2020 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Loans Investment Primary residential mortgage 1 $ 133 Commercial and industrial 1 $ 39 Total 2 $ 172

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	12 Months Ended
	Dec. 31, 2022
Credit Loss [Abstract]
Schedule of loan balances by segment and the corresponding balances in the allowance for loan losses	The following table presents the loan balances by segment, and the corresponding balances in the allowance as of December 31, 2022. For the period ended December 31, 2022, the allowance was based on the CECL methodology. December 31, 2022 Ending ACL Ending Attributable ACL Total To Total Attributable Individually Individually Loans To Loans Total Evaluated Evaluated Collectively Collectively Total Ending (In thousands) Loans Loans Evaluated Evaluated Loans ACL Primary residential mortgage $ 374 $ — $ 527,410 $ 2,894 $ 527,784 $ 2,894 Junior lien loan on residence — — 38,265 154 38,265 154 Multifamily property — — 1,863,915 8,849 1,863,915 8,849 Owner-occupied commercial — — 272,009 4,835 272,009 4,835 Investment commercial real 11,208 1,208 1,032,917 14,272 1,044,125 15,480 Commercial and industrial 3,385 299 1,191,277 25,231 1,194,662 25,530 Lease financing 1,765 — 286,801 2,314 288,566 2,314 Construction — — 9,936 236 9,936 236 Consumer and other — — 42,319 537 42,319 537 Total ACL $ 16,732 $ 1,507 $ 5,264,849 $ 59,322 $ 5,281,581 $ 60,829 The following table presents the loan balances by portfolio class, based on impairment method, and the corresponding balances in the allowances as of December 31, 2021. For the year ended December 31, 2021, the allowance was calculated based on the incurred loss methodology: December 31, 2021 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 2,242 $ — $ 498,001 $ 1,432 $ 500,243 $ 1,432 Home equity lines of credit — — 40,803 83 40,803 83 Junior lien loan on residence 18 — 3,173 5 3,191 5 Multifamily property — — 1,595,866 9,806 1,595,866 9,806 Owner-occupied commercial 458 — 252,145 1,998 252,603 1,998 Investment commercial real 12,750 4,234 991,229 22,849 1,003,979 27,083 Commercial and industrial 2,584 — 989,748 17,509 992,332 17,509 Lease financing — — 345,868 3,440 345,868 3,440 Secured by farmland and — — 6,871 84 6,871 84 Commercial construction — — 20,174 42 20,174 42 Consumer and other — — 40,828 215 40,828 215 Total ALLL $ 18,052 $ 4,234 $ 4,784,706 $ 57,463 $ 4,802,758 $ 61,697
Schedule of loans individually evaluated by segment	The following tables present collateral dependent loans individually evaluated by segment as of December 31, 2022: December 31, 2022 Average Unpaid Individually Principal Recorded Related Evaluated (In thousands) Balance Investment Allowance Loans With no related allowance recorded: Primary residential mortgage $ 415 $ 374 $ — $ 249 Commercial and industrial 3,868 1,836 — 539 Lease financing 1,792 1,765 — 444 Total loans with no related allowance $ 6,075 $ 3,975 $ — $ 1,232 With related allowance recorded: Investment commercial real estate $ 12,500 $ 11,208 $ 1,208 $ 12,402 Commercial and industrial 1,555 1,549 299 174 Total loans with related allowance $ 14,055 $ 12,757 $ 1,507 $ 12,576 Total loans individually evaluated for impairment $ 20,130 $ 16,732 $ 1,507 $ 13,808 The following table presents, under previously applicable GAAP, loans individually evaluated for impairment as of December 31, 2021 (the average impaired loans on the following table represent year to date impaired loans): December 31, 2021 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 2,453 $ 2,242 $ — $ 1,818 Owner-occupied commercial real estate 492 458 — 540 Junior lien loan on residence 18 18 — 3 Commercial and industrial 4,549 2,584 — 3,153 Total loans with no related allowance $ 7,512 $ 5,302 $ — $ 5,514 With related allowance recorded: Investment commercial real estate $ 19,887 $ 12,750 $ 4,234 $ 6,034 Total loans with related allowance $ 19,887 $ 12,750 $ 4,234 $ 6,034 Total loans individually evaluated for impairment $ 27,399 $ 18,052 $ 4,234 $ 11,548
Schedule of Activity in Allowance for Loan and Losses	The activity in the allowance for credit losses for the year ended December 31, 2022 is summarized below: December 31, 2021 Prior to December 31, Adoption Impact of 2022 of Adopting Charge- Provision/ Ending (In thousands) Topic 326 Topic 326 Offs Recoveries (Credit)(1) ACL Primary residential mortgage $ 1,510 $ 717 $ — $ 15 $ 652 $ 2,894 Junior lien loan on residence 88 83 ( 3 ) — ( 14 ) 154 Multifamily property 9,806 4,072 — — ( 5,029 ) 8,849 Owner-occupied commercial real estate 1,998 2,902 — — ( 65 ) 4,835 Investment commercial real estate 27,083 ( 13,589 ) ( 1,450 ) — 3,436 15,480 Commercial and industrial 17,509 ( 657 ) — 254 8,424 25,530 Lease financing 3,440 156 — — ( 1,282 ) 2,314 Commercial construction 48 361 — — ( 173 ) 236 Consumer and other 215 419 ( 53 ) 2 ( 46 ) 537 Total ACL $ 61,697 $ ( 5,536 ) $ ( 1,506 ) $ 271 $ 5,903 $ 60,829 (1) Provision to roll forward the ACL excludes a provision of $ 450,000 for off-balance sheet commitments. For the accounting policy on the allowance for loan losses that was in effect prior to the adoption of Topic 326, refer to Note 1, Summary of Significant Accounting Policies in our Annual Report on Form 10-K for the year-ended December 31, 2021. The activity in the allowance for loan and lease losses for the years ended December 31, 2021 and 2020 is summarized below: January 1, December 31, 2021 2021 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,905 $ ( 12 ) $ — $ ( 1,461 ) $ 1,432 Home equity lines of credit 218 — 85 ( 220 ) 83 Junior lien loan on residence 15 — — ( 10 ) 5 Multifamily property 9,945 — — ( 139 ) 9,806 Owner-occupied commercial real estate 3,050 — — ( 1,052 ) 1,998 Investment commercial real estate 27,713 ( 7,137 ) — 6,507 27,083 Commercial and industrial 19,047 ( 5,019 ) 66 3,415 17,509 Lease financing 3,936 — — ( 496 ) 3,440 Secured by farmland and agricultural 43 — — 41 84 Commercial construction 158 — — ( 116 ) 42 Consumer and other 279 ( 80 ) 10 6 215 Total ALLL $ 67,309 $ ( 12,248 ) $ 161 $ 6,475 $ 61,697 January 1, December 31, 2020 2020 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,090 $ ( 559 ) $ 373 $ 1,001 $ 2,905 Home equity lines of credit 128 — 11 79 218 Junior lien loan on residence 13 — — 2 15 Multifamily property 6,037 ( 56 ) — 3,964 9,945 Owner-occupied commercial real estate 2,064 ( 51 ) — 1,037 3,050 Investment commercial real estate 15,988 ( 6,092 ) 31 17,786 27,713 Commercial and industrial 14,353 ( 2,418 ) 17 7,095 19,047 Lease financing 2,642 — — 1,294 3,936 Secured by farmland and agricultural 38 — — 5 43 Commercial construction 27 — — 131 158 Consumer and other 296 ( 27 ) 4 6 279 Total ALLL $ 43,676 $ ( 9,203 ) $ 436 $ 32,400 $ 67,309
Schedule of Activity in ACL for Off Balance Sheet Commitments	The following table presents the activity in the ACL for off balance sheet commitments for the year ended December 31,2022: December 31, 2021 December 31, Prior to Adoption Impact of Provision 2022 (In thousands) of Topic 326 Adopting Topic 326 (Credit) Ending ACL Off balance sheet commitments $ — $ 302 $ 450 $ 752 Total ACL $ — $ 302 $ 450 $ 752

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Premises and Equipment Including Finance Lease Right of Use Assets	The following table presents premises and equipment as of December 31, (In thousands) 2022 2021 Land and land improvements $ 6,853 $ 6,947 Buildings 12,332 13,404 Furniture and equipment 25,484 24,285 Leasehold improvements 14,891 13,861 Projects in progress 1,046 187 60,606 58,684 Less: accumulated depreciation 36,775 35,640 Total $ 23,831 $ 23,044 The following table presents finance lease right-of-use assets as of December 31, (In thousands) 2022 2021 Land and buildings $ 11,237 $ 11,237 Less: accumulated depreciation 8,402 7,655 Total $ 2,835 $ 3,582
Schedule of Future Minimum Lease Payments Under Finance Lease Right-of-Use Asset	The following is a schedule by year of future minimum lease payments under finance lease right-of-use asset, together with the present value of net minimum lease payments as of December 31, 2022: (In thousands) 2023 $ 1,456 2024 1,456 2025 939 2026 215 2027 226 Thereafter 903 Total minimum lease payments 5,195 Less: amount representing interest 499 Present value of net minimum lease payments $ 4,696

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2022
Deposits [Abstract]
Schedule of Details of Total Deposits	The following table sets forth the details of total deposits as of December 31: (Dollars in thousands) 2022 2021 Noninterest-bearing demand deposits $ 1,246,066 23.94 % $ 956,482 18.16 % Interest-bearing checking (1) 2,143,611 41.18 2,287,894 43.45 Savings 157,338 3.02 154,914 2.94 Money market 1,228,234 23.60 1,307,051 24.82 Certificates of deposit - retail 318,573 6.12 409,608 7.78 Certificates of deposit - listing service 25,358 0.49 31,382 0.60 Subtotal deposits 5,119,180 98.35 5,147,331 97.75 Interest-bearing demand - Brokered 60,000 1.15 85,000 1.61 Certificates of deposit - Brokered 25,984 0.50 33,818 0.64 Total deposits $ 5,205,164 100.00 % $ 5,266,149 100.00 % (1) Interest-bearing checking includes $ 620.1 million at December 31, 2022 and $ 647.8 million at December 31, 2021 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace programs.
Scheduled Maturities of Time Deposits	The scheduled maturities of time deposits as of December 31, 2022 are as follows: (In thousands) 2023 $ 211,694 2024 104,417 2025 44,815 2026 6,374 2027 2,615 Over 5 Years — Total $ 369,915

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Recurring Basis	The following tables summarize, at the dates indicated, assets measured at fair value on a recurring basis, including financial assets for which the Company has elected the fair value option: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2022 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: U.S. government-sponsored agencies $ 190,542 $ — $ 190,542 $ — Mortgage-backed securities-residential 325,738 — 325,738 — SBA pool securities 27,427 — 27,427 — State and political subdivisions 1,849 — 1,849 — Corporate bond 9,092 — 9,092 — CRA investment fund 12,985 12,985 — — Derivatives: Cash flow hedges 9,289 — 9,289 — Loan level swaps 38,265 — 38,265 — Total $ 615,187 $ 12,985 $ 602,202 $ — Liabilities: Derivatives: Loan level swaps 38,265 — 38,265 — Total $ 38,265 $ — $ 38,265 $ — (In thousands) December 31, 2021 Assets: Securities available for sale: U.S. government-sponsored agencies $ 272,221 $ — $ 272,221 $ — Mortgage-backed securities-residential 476,974 — 476,974 — SBA pool securities 39,561 — 39,561 — State and political subdivisions 5,476 — 5,476 — Corporate bond 2,521 — 2,521 — CRA investment fund 14,685 14,685 — — Loans held for sale, at fair value 3,040 — 3,040 — Derivatives: Loan level swaps 32,326 — 32,326 — Total $ 846,804 $ 14,685 $ 832,119 $ — Liabilities: Derivatives: Cash flow hedges $ 3,479 $ — $ 3,479 $ — Loan level swaps 34,569 — 34,569 — Total $ 38,048 $ — $ 38,048 $ —
Schedule of Residential Loans Held for Sale	The following table presents residential loans held for sale, at fair value, at the dates indicated: December 31, 2022 December 31, 2021 Residential loans contractual balance $ — $ 2,992 Fair value adjustment — 48 Total fair value of residential loans held for sale $ — $ 3,040
Schedule of Assets Measured at Fair Value on Non-Recurring Basis	The following tables summarize, at the date indicated, assets measured at fair value on a non-recurring basis: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2022 (Level 1) (Level 2) (Level 3) Assets: Individually evaluated loans: Investment commercial real estate $ 10,000 $ — $ — $ 10,000 Commercial and industrial 743 — — 743 Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2021 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Investment commercial real estate $ 8,516 $ — $ — $ 8,516
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments	The carrying amounts and estimated fair values of financial instruments at December 31, 2022 are as follows: Fair Value Measurements at December 31, 2022 Using (In thousands) Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 190,075 $ 190,075 $ — $ — $ 190,075 Securities available for sale 554,648 — 554,648 — 554,648 Securities held to maturity 102,291 — 87,187 — 87,187 CRA investment fund 12,985 12,985 — — 12,985 FHLB and FRB stock 30,672 — — — N/A Loans held for sale, at lower of cost 15,626 — 17,176 — 17,176 Loans, net of allowance for credit losses 5,224,417 — — 5,141,201 5,141,201 Accrued interest receivable 25,157 — 2,393 22,764 25,157 Accrued interest receivable loan level swaps (A) 1,092 — 1,092 — 1,092 Cash flow hedges 9,289 — 9,289 — 9,289 Loan level swaps 38,265 — 38,265 — 38,265 Financial liabilities Deposits $ 5,205,164 $ 4,835,249 $ 356,975 $ — $ 5,192,224 Short-term borrowings 379,530 — 379,530 — 379,530 Subordinated debt 132,987 — — 119,865 119,865 Accrued interest payable 2,997 2,509 413 75 2,997 Accrued interest payable loan level swaps (B) 1,092 — 1,092 — 1,092 Loan level swaps 38,265 — 38,265 — 38,265 (A) Included in other assets in the Consolidated Statement of Condition. (B) Included in accrued expenses and other liabilities in the Consolidated Statement of Condition. The carrying amounts and estimated fair values of financial instruments at December 31, 2021 are as follows: Fair Value Measurements at December 31, 2021 Using (In thousands) Carrying Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 146,804 $ 146,804 $ — $ — $ 146,804 Securities available for sale 796,753 — 796,753 — 796,753 Securities held to maturity 108,680 — 108,460 — 108,460 CRA investment fund 14,685 14,685 — — 14,685 FHLB and FRB stock 12,950 — — — N/A Loans held for sale, at fair value 3,040 — 3,040 — 3,040 Loans held for sale, at lower of cost 34,051 — 37,538 — 37,538 Loans, net of allowance for loan losses 4,745,024 — — 4,767,293 4,767,293 Accrued interest receivable 21,589 — 2,443 19,146 21,589 Accrued interest receivable loan level 4,842 — 4,842 — 4,842 Loan level swaps 32,326 — 32,326 — 32,326 Financial liabilities Deposits $ 5,266,149 $ 4,791,341 $ 476,659 $ — $ 5,268,000 Subordinated debt 132,701 — — 140,556 140,556 Accrued interest payable 651 130 446 75 651 Accrued interest payable loan level 4,842 — 4,842 — 4,842 Cash flow hedges 3,479 — 3,479 — 3,479 Loan level swaps 34,569 — 34,569 — 34,569 (A) Included in other assets in the Consolidated Statement of Condition. (B) Included in accrued expenses and other liabilities in the Consolidated Statement of Condition.

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Noninterest Income	The following table presents the sources of noninterest income for the years ended December 31: (In thousands) 2022 2021 2020 Service charges on deposits Overdraft fees $ 488 $ 415 $ 405 Interchange income 1,451 1,451 1,208 Other 2,286 1,831 1,542 Wealth management fees (a) 54,651 52,987 40,861 Gains on sales of OREO — 51 — Gain on sale of property 275 — — Corporate advisory fee income 1,704 3,483 265 Other (b) 5,562 12,025 17,479 Total noninterest other income $ 66,417 $ 72,243 $ 61,760 (a) Includes investment brokerage fees. (b) All of the other category is outside the scope of ASC 606.
Schedule of Noninterest Income by Operating Segment	The following table presents the sources of noninterest income by operating segment for the years ended December 31: 2022 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 488 $ — $ 488 Interchange income 1,451 — 1,451 Other 2,286 — 2,286 Wealth management fees (a) — 54,651 54,651 Gain on sale of property 275 — 275 Corporate advisory fee income 1,704 — 1,704 Other (b) 3,715 1,847 5,562 Total noninterest income $ 9,919 $ 56,498 $ 66,417 2021 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 415 $ — $ 415 Interchange income 1,451 — 1,451 Other 1,831 — 1,831 Wealth management fees (a) — 52,987 52,987 Gain on sales of OREO 51 — 51 Corporate advisory fee income 3,483 — 3,483 Other (b) 10,111 1,914 12,025 Total noninterest income $ 17,342 $ 54,901 $ 72,243 2020 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 405 $ — $ 405 Interchange income 1,208 — 1,208 Other 1,542 — 1,542 Wealth management fees (a) — 40,861 40,861 Corporate advisory fee income 265 — 265 Other (b) 15,684 1,795 17,479 Total noninterest income $ 19,104 $ 42,656 $ 61,760 (a) Includes investment brokerage fees. (b) All of the other category is outside the scope of ASC 606.

OTHER OPERATING EXPENSES (Table

OTHER OPERATING EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Schedule of Components of Other Operating Expenses	The following table presents the major components of other operating expenses for the years ended December 31: (In thousands) 2022 2021 2020 Professional and legal fees $ 5,062 $ 5,343 $ 4,099 Telephone 1,460 1,323 1,432 Advertising 1,882 1,288 1,631 Amortization of intangible assets 1,569 1,598 1,287 Branch restructure 201 228 488 Write-off of subordinated debt costs — 648 — Other operating expenses 12,819 12,396 10,945 Total other operating expenses $ 22,993 $ 22,824 $ 19,882

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense Included in Consolidated Financial Statements	The income tax expense included in the consolidated financial statements for the years ended December 31 is allocated as follows: (In thousands) 2022 2021 2020 Federal: Current expense/(benefit) $ 27,228 $ 7,400 $ ( 4,741 ) Deferred (benefit)/expense ( 7,817 ) 7,971 10,161 State: Current expense 7,511 4,188 2,327 Deferred expense/(benefit) 1,176 1,481 ( 1,936 ) Total income tax expense $ 28,098 $ 21,040 $ 5,811
Schedule of Total Income Tax Expense Differed from Amounts Computed by Applying U.S. Federal Income Tax Rate to Income Before Taxes	Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 21 percent for 2022, 2021, and 2020, respectively, to income before taxes as a result of the following: (In thousands) 2022 2021 2020 "Computed expected tax expense" $ 21,513 $ 16,309 $ 6,721 (Decrease)/increase in taxes resulting from: Tax-exempt income ( 236 ) ( 146 ) ( 287 ) State income taxes, net of Federal benefit 7,109 4,789 1,813 Bank owned life insurance income ( 261 ) ( 356 ) ( 267 ) Life insurance expense 21 199 225 Interest disallowance 34 14 66 Meals and entertainment expense 39 39 40 Stock-based compensation ( 130 ) 9 569 Impact of CARES Act — — ( 3,009 ) Other 9 183 ( 60 ) Total income tax expense $ 28,098 $ 21,040 $ 5,811
Schedule of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31 are as follows: (In thousands) 2022 2021 Deferred tax assets: Allowance for credit losses $ 14,924 $ 16,408 Tax net operating loss carryforward 648 1,180 Organization costs 7 8 Cash flow hedge — 978 Unrealized loss on securities available for sale 25,424 3,061 Unrealized loss on equity security 544 84 Stock option expense 3,084 2,541 Nonaccrual interest 202 97 Accrued compensation 5,277 5,631 Accrued expenses 803 472 Lease liabilities 3,598 2,689 Finance lease 1,072 732 Other 727 183 Total gross deferred tax assets $ 56,310 $ 34,064 Deferred tax liabilities: Lease financing $ 58,382 $ 64,071 Cash flow hedge 2,528 — Deferred loan origination costs and fees 1,827 1,757 Deferred income 4,608 4,543 Amortization of intangible assets 854 369 Lease right-of-use asset 3,379 2,600 Other 164 46 Total gross deferred tax liabilities 71,742 73,386 Net deferred tax liability $ ( 15,432 ) $ ( 39,322 )

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Changes in Options Outstanding	Changes in options outstanding during 2022 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In Thousands) Balance, January 1, 2022 31,340 $ 14.59 Exercised during 2022 ( 23,640 ) 14.09 Expired during 2022 — — Forfeited during 2022 ( 900 ) 13.11 Balance, December 31, 2022 6,800 $ 16.53 0.55 years $ 141 Vested and expected to vest 6,800 $ 16.53 0.55 years $ 141 Exercisable at December 31, 2022 6,800 $ 16.53 0.55 years $ 141
Schedule of Changes in Non-Vested Performance-Based Shares	Changes in non-vested shares dependent on performance criteria for 2022 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2022 225,435 $ 20.29 Granted during 2022 71,482 35.93 Vested during 2022 ( 58,077 ) 25.77 Forfeited during 2022 ( 5,284 ) 17.92 Balance, December 31, 2022 233,556 $ 23.77
Schedule of Changes in Service-Based Restricted Stock Units	Changes in service based restricted stock units for 2022 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2022 701,145 $ 21.93 Granted during 2022 235,534 36.86 Vested during 2022 ( 289,546 ) 21.94 Forfeited during 2022 ( 25,963 ) 24.05 Balance, December 31, 2022 621,170 $ 27.50

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Operating Lease Liabilities by Contractual Maturity	The following is a schedule of the Company's operating lease liabilities by contractual maturity as of December 31, 2022: (In thousands) 2023 $ 3,007 2024 2,342 2025 2,092 2026 1,532 2027 1,169 Thereafter 5,082 Total lease payments 15,224 Less: imputed interest 1,520 Total present value of lease payments $ 13,704
Summary of Supplemental Cash Flow Information Related to Direct Finance and Operating Leases	The following table shows the supplemental cash flow information related to the Company’s direct finance and operating leases for the years ended December 31: (In thousands) 2022 2021 Right-of-use asset obtained in exchange for lease obligation $ 5,909 $ 3,098 Operating cash flows from operating leases 2,656 2,506 Operating cash flows from direct finance leases 250 300 Financing cash flows from direct finance leases 748 748

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2022
Regulatory Capital [Abstract]
Schedule of Regulatory Capital Amounts and Ratios	The Bank’s regulatory capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2022: Total capital (to risk-weighted assets) $ 741,719 14.67 % $ 505,760 10.00 % $ 404,608 8.00 % $ 531,048 10.50 % Tier I capital (to risk-weighted assets) 680,137 13.45 404,608 8.00 303,456 6.00 429,896 8.50 Common equity tier I (to risk-weighted assets) 680,119 13.45 328,744 6.50 227,592 4.50 354,032 7.00 Tier I capital (to average assets) 680,137 10.85 313,328 5.00 250,662 4.00 250,662 4.00 As of December 31, 2021: Total capital (to risk-weighted assets) $ 672,614 14.05 % $ 478,628 10.00 % $ 382,902 8.00 % $ 502,559 10.50 % Tier I capital (to risk-weighted assets) 612,762 12.80 382,902 8.00 287,177 6.00 406,834 8.50 Common equity tier I (to risk-weighted assets) 612,738 12.80 311,108 6.50 215,382 4.50 335,039 7.00 Tier I capital (to average assets) 612,762 9.99 306,538 5.00 245,231 4.00 245,231 4.00 (A) See footnote on following table. The Company’s regulatory capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2022: Total capital (to risk-weighted assets) $ 745,197 14.73 % N/A N/A $ 404,830 8.00 % $ 531,340 10.50 % Tier I capital (to risk-weighted assets) 557,627 11.02 N/A N/A 303,623 6.00 430,132 8.50 Common equity tier I (to risk-weighted assets) 557,609 11.02 N/A N/A 227,717 4.50 354,227 7.00 Tier I capital (to average assets) 557,627 8.90 N/A N/A 250,746 4.00 250,746 4.00 As of December 31, 2021: Total capital (to risk-weighted assets) $ 700,790 14.64 % N/A N/A $ 382,944 8.00 % $ 502,614 10.50 % Tier I capital (to risk-weighted assets) 508,231 10.62 N/A N/A 287,208 6.00 406,878 8.50 Common equity tier I (to risk-weighted assets) 508,207 10.62 N/A N/A 215,406 4.50 335,076 7.00 Tier I capital (to average assets) 508,231 8.29 N/A N/A 245,242 4.00 245,242 4.00 (A) The Basel Rules require the Company and the Bank to maintain a 2.5 percent “capital conservation buffer” on top of the minimum risk-weighted asset ratios. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of (i) CET1 to risk-weighted assets, (ii) Tier 1 capital to risk-weighted assets or (iii) total capital to risk-weighted assets above the respective minimum but below the capital conservation buffer face constraints on dividends, equity repurchases and discretionary bonus payments to executive officers based on the amount of the shortfall.

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2022
Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges	The following table presents information about the interest rate swaps designated as cash flow hedges as of December 31, 2022 and December 31, 2021: (Dollars in thousands) 2022 2021 Notional amount $ 290,000 $ 230,000 Weighted average pay rate 1.71 % 1.99 % Weighted average receive rate 2.78 % 0.20 % Weighted average maturity 2.01 years 1.04 years Unrealized gain/(loss), net $ 3,290 $ ( 3,479 ) Number of contracts 12 13
Schedule of Net Gains/(Losses) Recorded in Accumulated Other Comprehensive Income	The following table presents the net gains/(losses) recorded in accumulated other comprehensive income and the consolidated financial statements relating to the cash flow derivative instruments for the year ended December 31: (In thousands) 2022 2021 Interest rate contracts Gain/(loss) recognized in other comprehensive income (effective portion) $ 9,262 $ 4,412 Gain/(loss) reclassified from other comprehensive income to interest expense — — Gain/(loss) recognized in other noninterest income 116 ( 842 )
Schedule of Cash Flow Hedges Included in Financial Statements	December 31, 2022 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing $ 290,000 $ 3,290 Total included in other assets $ 290,000 $ 3,290 Total included in other liabilities — — December 31, 2021 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing $ 230,000 $ ( 3,479 ) Total included in other assets — — Total included in other liabilities 230,000 ( 3,479 )
Not Designated as Hedging Instrument [Member]
Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges	Information about these swaps is as follows: (Dollars in thousands) December 31, 2022 December 31, 2021 Notional amount $ 612,211 $ 702,210 Fair value $ ( 37,173 ) $ 32,326 Weighted average pay rates 3.99 % 4.00 % Weighted average receive rates 6.14 % 1.83 % Weighted average maturity 4.68 years 5.5 years Number of contracts 78 86

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
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 years ended December 31, 2022, 2021 and 2020: Year Ended December 31, 2022 Wealth (In thousands) Banking Management Total Net interest income $ 167,893 $ 8,187 $ 176,080 Noninterest income 9,919 56,498 66,417 Total income 177,812 64,685 242,497 Provision for credit losses 6,353 — 6,353 Compensation and benefits 61,975 27,501 89,476 Premises and equipment expense 15,774 2,945 18,719 FDIC expense 1,939 — 1,939 Other noninterest expense 13,590 10,076 23,666 Total noninterest expense 99,631 40,522 140,153 Income before income tax expense 78,181 24,163 102,344 Income tax expense 21,453 6,645 28,098 Net income $ 56,728 $ 17,518 $ 74,246 Total assets at period end $ 6,256,664 $ 96,929 $ 6,353,593 Year Ended December 31, 2021 Wealth (In thousands) Banking Management Total Net interest income $ 132,195 $ 5,866 $ 138,061 Noninterest income 17,342 54,901 72,243 Total income 149,537 60,767 210,304 Provision for loan losses 6,475 — 6,475 Compensation and benefits 56,970 24,894 81,864 Premises and equipment expense 14,805 2,360 17,165 FDIC expense 2,071 — 2,071 Other noninterest expense 14,407 10,660 25,067 Total noninterest expense 94,728 37,914 132,642 Income before income tax expense 54,809 22,853 77,662 Income tax expense 14,847 6,193 21,040 Net income $ 39,962 $ 16,660 $ 56,622 Total assets at period end $ 5,973,343 $ 104,650 $ 6,077,993 Year Ended December 31, 2020 Wealth (In thousands) Banking Management Total Net interest income $ 121,583 $ 6,019 $ 127,602 Noninterest income 19,104 42,656 61,760 Total income 140,687 48,675 189,362 Provision for loan losses 32,400 — 32,400 Compensation and benefits 54,044 23,472 77,516 Premises and equipment expense 14,056 2,321 16,377 FDIC expense 1,975 — 1,975 Other noninterest expense 19,694 9,397 29,091 Total noninterest expense 122,169 35,190 157,359 Income before income tax expense 18,518 13,485 32,003 Income tax expense 2,170 3,641 5,811 Net income $ 16,348 $ 9,844 $ 26,192 Total assets at period end $ 5,798,770 $ 91,672 $ 5,890,442

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Schedule of Rollforward of Goodwill and Intangible Assets	The table below presents a roll forward of goodwill and intangible assets for the years ended December 31, 2022, 2021 and 2020: Identifiable (In thousands) Goodwill Intangible Assets Balance as of January 1, 2020 $ 30,208 $ 10,380 Acquisitions during the period 2,895 1,695 Amortization and impairment during the period — 1,287 Balance as of December 31, 2020 $ 33,103 $ 10,788 Acquisitions during the period $ 3,109 $ 3,500 Amortization and impairment during the period — 1,598 Balance as of December 31, 2021 $ 36,212 $ 12,690 Acquisitions during the period $ — $ — Amortization during the period — 1,569 Balance as of December 31, 2022 $ 36,212 $ 11,121
Schedule of Estimated Amortization Expense	Estimated amortization expense for each of the next five years is shown in the table below. (In thousands) 2023 $ 1,320 2024 1,087 2025 1,087 2026 959 2027 944

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income/(Loss) Balances, Net of Tax	The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the years ended December 31, 2022, 2021 and 2020: Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Twelve Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive December 31, December 31, (In thousands) 2022 Reclassifications Income/(Loss) 2022 2022 Net unrealized holding gain/(loss) on $ ( 9,873 ) $ ( 76,126 ) $ 5,027 $ ( 71,099 ) $ ( 80,972 ) Gain/(loss) on cash flow hedges ( 2,501 ) 9,348 ( 86 ) 9,262 6,761 Accumulated other comprehensive $ ( 12,374 ) $ ( 66,778 ) $ 4,941 $ ( 61,837 ) $ ( 74,211 ) Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Twelve Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive December 31, December 31, (In thousands) 2021 Reclassifications Income/(Loss) 2021 2021 Net unrealized holding gain/(loss) on $ 5,521 $ ( 15,394 ) $ — $ ( 15,394 ) $ ( 9,873 ) Gain/(loss) on cash flow hedges ( 6,913 ) 3,806 606 4,412 ( 2,501 ) Accumulated other comprehensive $ ( 1,392 ) $ ( 11,588 ) $ 606 $ ( 10,982 ) $ ( 12,374 ) Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Twelve Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive December 31, December 31, (In thousands) 2020 Reclassifications Income/(Loss) 2020 2020 Net unrealized holding gain/(loss) on $ 1,006 $ 4,515 $ — $ 4,515 $ 5,521 Gain/(loss) on cash flow hedges ( 2,501 ) ( 4,346 ) ( 66 ) ( 4,412 ) ( 6,913 ) Accumulated other comprehensive $ ( 1,495 ) $ 169 $ ( 66 ) $ 103 $ ( 1,392 )
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income/(loss)	The following represents the reclassifications out of accumulated other comprehensive income/(loss) for the years ended December 31, 2022, 2021 and 2020: Years Ended December 31, (In thousands) 2022 2021 2020 Affected Line Item in Statements of Income Unrealized gain/(losses) on securities available Reclassification adjustment for amounts included $ 6,609 $ — $ — Securities losses, net Tax effect ( 1,582 ) — — Income tax expense Total reclassifications, net of tax $ 5,027 $ — $ — Unrealized gain/(losses) on cash flow Reclassification adjustment for amounts included $ ( 116 ) $ 842 $ ( 89 ) Interest expense/other income Tax effect 30 ( 236 ) 23 Income tax expense Total reclassifications, net of tax $ ( 86 ) $ 606 $ ( 66 )

CONDENSED FINANCIAL STATEMENT_2

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (Tables)	12 Months Ended
	Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Statements of Condition	STATEMENTS OF CONDITION December 31, (In thousands) 2022 2021 Assets Cash $ 7,967 $ 27,530 Interest-earning deposits 523 522 Total cash and cash equivalents 8,490 28,052 Investment in subsidiary 655,490 650,918 Other assets 2,356 680 Total assets $ 666,336 $ 679,650 Liabilities Subordinated debt $ 132,987 $ 132,701 Other liabilities 369 561 Total liabilities 133,356 133,262 Shareholders’ equity Common stock 17,513 17,220 Surplus 338,706 332,358 Treasury stock ( 97,826 ) ( 65,104 ) Retained earnings 348,798 274,288 Accumulated other comprehensive loss ( 74,211 ) ( 12,374 ) Total shareholders’ equity 532,980 546,388 Total liabilities and shareholders’ equity $ 666,336 $ 679,650
Schedule of Condensed Statements of Income	STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Years Ended December 31, (In thousands) 2022 2021 2020 Income Dividend from Bank $ 23,000 $ — $ 13,000 Other income 2 — 2 Total income 23,002 — 13,002 Expenses Interest expense 5,453 7,013 4,992 Other expenses 1,130 1,602 948 Total expenses 6,583 8,615 5,940 Income/(loss) before income tax benefit and 16,419 ( 8,615 ) 7,062 Income tax benefit ( 1,676 ) ( 2,340 ) ( 1,247 ) Net income/(loss) before equity in undistributed earnings of Bank 18,095 ( 6,275 ) 8,309 Equity in undistributed earnings of Bank/(dividends 56,151 62,897 17,883 Net income $ 74,246 $ 56,622 $ 26,192 Other comprehensive (loss)/income ( 61,837 ) ( 10,982 ) 103 Comprehensive income $ 12,409 $ 45,640 $ 26,295
Schedule of Condensed Statements of Cash Flows	STATEMENTS OF CASH FLOWS Years Ended December 31, (In thousands) 2022 2021 2020 Cash flows from operating activities: Net income $ 74,246 $ 56,622 $ 26,192 Undistributed earnings of Bank ( 56,151 ) ( 62,897 ) ( 17,883 ) Amortization of subordinated debt costs 286 1,002 234 (Increase)/decrease in other assets ( 1,676 ) ( 674 ) 4,914 (Decrease)/increase in other liabilities ( 192 ) ( 1,979 ) 2,176 Net cash provided by/(used in) operating activities 16,513 ( 7,926 ) 15,633 Cash flows from investing activities: Capital contribution to subsidiary — — — Net cash used in investing activities — — — Cash flows from financing activities: Cash dividends paid on common stock ( 3,645 ) ( 3,775 ) ( 3,780 ) Exercise of stock options, net of stock swaps 292 187 230 Proceeds from issuance of subordinated debt — — 98,143 Repayments of subordinated debt — ( 50,000 ) — Purchase of treasury shares ( 32,722 ) ( 28,627 ) ( 6,487 ) Net cash (used in)/provided by financing activities ( 36,075 ) ( 82,215 ) 88,106 Net (decrease)/increase in cash and cash equivalents ( 19,562 ) ( 90,141 ) 103,739 Cash and cash equivalents at beginning of period 28,052 118,193 14,454 Cash and cash equivalents at end of period $ 8,490 $ 28,052 $ 118,193

SUPPLEMENTAL DATA (unaudited) (

SUPPLEMENTAL DATA (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Schedule of Unaudited Quarterly Financial Data	The following table sets forth certain unaudited quarterly financial data for the periods indicated: Selected 2022 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 44,140 $ 48,520 $ 55,013 $ 64,202 Interest expense 4,518 5,627 9,488 16,162 Net interest income 39,622 42,893 45,525 48,040 Provision for loan losses 2,375 1,449 599 1,930 Wealth management fee income 14,834 13,891 12,943 12,983 Securities (losses)/gains, net ( 6,609 ) — — — Fair value adjustment of CRA equity security ( 682 ) ( 475 ) ( 571 ) 28 Other income 7,171 5,092 4,011 3,801 Operating expenses 34,169 32,659 33,560 33,412 Income before income tax expense 17,792 27,293 27,749 29,510 Income tax expense 4,351 7,193 7,623 8,931 Net income $ 13,441 $ 20,100 $ 20,126 $ 20,579 Earnings per share-basic $ 0.73 $ 1.10 $ 1.11 $ 1.15 Earnings per share-diluted 0.71 1.08 1.09 1.12 Selected 2021 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 38,239 $ 39,686 $ 40,067 $ 42,075 Interest expense 6,446 5,841 4,856 4,863 Net interest income 31,793 33,845 35,211 37,212 Provision for loan losses 225 900 1,600 3,750 Wealth management fee income 12,131 13,034 13,860 13,962 Fair value adjustment of CRA equity security ( 265 ) 42 ( 70 ) ( 139 ) Other income 5,954 4,602 3,991 5,141 Operating expenses 31,594 30,684 32,185 31,704 (Loss)/income before income tax (benefit)/expense 17,794 19,939 19,207 20,722 Income tax (benefit)/expense 4,616 5,521 5,036 5,867 Net income $ 13,178 $ 14,418 $ 14,171 $ 14,855 Earnings per share-basic $ 0.70 $ 0.76 $ 0.76 $ 0.80 Earnings per share-diluted 0.67 0.74 0.74 0.78

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)	1 Months Ended	3 Months Ended		6 Months Ended	12 Months Ended
	May 31, 2020 shares	Jun. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2022 USD ($) Segment shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares	Jan. 01, 2022 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | Segment					2
Federal funds sales periods					1 day
Interest-earning deposits maturities period					1 year
Servicing rights					$ 0
Amount of loans serviced					$ 152,200,000	$ 97,500,000
Threshold period for loan					30 days
Threshold for determining nonaccrual status					90 days
Non-impaired special mention loans multiple						2.25
Non-impaired substandard loans multiple							3.25
Loan modifications					$ 947,000,000
Post-modification outstanding recorded investment					$ 11,208,000	$ 2,691,000	$ 462,000
Sale of loans servicing released to third party		$ 56,500,000	$ 355,000,000	$ 124,000,000
Issuance of shares for Employee Stock Purchase Plan, shares | shares					25,023	26,693	56,849
Antidilutive securities | shares					291,462	264,317	393,501
Net increase to retained earnings					$ 348,798,000	$ 274,288,000
Reduction to allowance for credit losses					$ (752,000)
ASU 2016-13 [Member]
Summary Of Significant Accounting Policies [Line Items]
Net increase to retained earnings								$ 3,900,000
Reduction to allowance for credit losses								$ 5,500,000
Employee Stock Option [Member]
Summary Of Significant Accounting Policies [Line Items]
Option term					10 years
Compensation cost					$ 0	0	$ 0
Employee Stock [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of share purchase rights authorized | shares					150,000
Additional common stock to be issued | shares	200,000
Percentage of closing market price on purchase date					85%
Compensation cost					$ 145,000	126,000	$ 224,000
Premises [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life					40 years
U.S. Small Business Administration (SBA) Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Paycheck protection program, maximum credit facility					$ 650,000,000
Paycheck protection program loans remaining balance					1,700,000
Deferral [Member]
Summary Of Significant Accounting Policies [Line Items]
Post-modification outstanding recorded investment					$ 0
Consumer and Other [Member]
Summary Of Significant Accounting Policies [Line Items]
Threshold for determining nonaccrual status					120 days
Small Business Administration Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Loans held for sale					$ 17,200,000	$ 32,500,000
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash equivalents original maturities period					90 days
Short term borrowings original maturities period					90 days
Paycheck Protection Loans Repayment Period					5 years
Finite-Lived Intangible Asset, Useful Life					15 years
Maximum [Member] | Employee Stock Option [Member]
Summary Of Significant Accounting Policies [Line Items]
Option term					10 years
Maximum [Member] | Employee Stock [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of compensation contributable					15%
Maximum [Member] | Equipment and Other Fixed Assets [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life					10 years
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Paycheck Protection Loans Repayment Period					2 years
Finite-Lived Intangible Asset, Useful Life					5 years
Minimum [Member] | Employee Stock [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of compensation contributable					1%
Minimum [Member] | Equipment and Other Fixed Assets [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life					3 years
Peapack-Gladstone Mortgage Group, Inc. [Member] | Peapack Ventures, LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned					99%
Peapack-Gladstone Mortgage Group, Inc. [Member] | Peapack-Gladstone Realty, Inc [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned					79%
PGB Trust & Investments of Delaware [Member] | Peapack Ventures, LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned					1%
Peapack Ventures, LLC [Member] | Peapack-Gladstone Realty, Inc [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned					21%

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Impact to Financial Statements Upon Adoption of ASC 326 (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Allowance for credit losses on off-balance sheet commitments	$ (137)
Total impact from ASC 326 adoption	3,909	$ 532,980	$ 546,388	$ 527,122	$ 503,652
Allowance For Credit Losses on Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Assets	4,046
Tax Effect [Member]
Summary Of Significant Accounting Policies [Line Items]
Allowance for credit losses on off-balance sheet commitments	51
Total impact from ASC 326 adoption	(1,439)		$ 550,297
Tax Effect [Member] | Allowance For Credit Losses on Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Assets	(1,490)
Impact to Consolidated Statement of Condition from ASC-326 Adoption [Member]
Summary Of Significant Accounting Policies [Line Items]
Allowance for credit losses on off-balance sheet commitments	(188)
Total impact from ASC 326 adoption	5,348
Impact to Consolidated Statement of Condition from ASC-326 Adoption [Member] | Allowance For Credit Losses on Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Assets	$ 5,536

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Calculation of Basic and Diluted Earnings per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Net income available to common shareholders									$ 74,246	$ 56,622	$ 26,192
Basic weighted average shares outstanding									18,161,605	18,788,679	18,896,825
Plus: common stock equivalents									406,493	503,923	184,362
Diluted weighted average shares outstanding									18,568,098	19,292,602	19,081,187
Earnings per share:
Basic	$ 1.15	$ 1.11	$ 1.10	$ 0.73	$ 0.80	$ 0.76	$ 0.76	$ 0.70	$ 4.09	$ 3.01	$ 1.39
Diluted	$ 1.12	$ 1.09	$ 1.08	$ 0.71	$ 0.78	$ 0.74	$ 0.74	$ 0.67	$ 4	$ 2.93	$ 1.37

INVESTMENT SECURITIES (Schedule

INVESTMENT SECURITIES (Schedule of Amortized Cost and Approximate Fair Value of Securities Available for Sale) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Securities Available for Sale:
Amortized Cost	$ 661,045	$ 809,687
Gross Unrealized Gains	28	3,927
Gross Unrealized Losses	(106,425)	(16,861)
Fair Value	554,648	796,753
Securities Held to Maturity:
Amortized Cost	102,291	108,680
Gross Unrealized Gains		74
Gross Unrealized Losses	(15,104)	(294)
Fair Value	87,187	108,460
U.S. Government-Sponsored Agencies [Member]
Securities Available for Sale:
Amortized Cost	244,774	280,045
Gross Unrealized Losses	(54,232)	(7,824)
Fair Value	190,542	272,221
Securities Held to Maturity:
Amortized Cost	40,000	40,000
Gross Unrealized Gains		7
Gross Unrealized Losses	(4,563)	(25)
Fair Value	35,437	39,982
Mortgage-Backed Securities-Residential [Member]
Securities Available for Sale:
Amortized Cost	372,471	481,062
Gross Unrealized Gains	27	3,849
Gross Unrealized Losses	(46,760)	(7,937)
Fair Value	325,738	476,974
Securities Held to Maturity:
Amortized Cost	62,291	68,680
Gross Unrealized Gains		67
Gross Unrealized Losses	(10,541)	(269)
Fair Value	51,750	68,478
SBA Pool Securities [Member]
Securities Available for Sale:
Amortized Cost	31,934	40,649
Gross Unrealized Gains	1	12
Gross Unrealized Losses	(4,508)	(1,100)
Fair Value	27,427	39,561
State and Political Subdivisions [Member]
Securities Available for Sale:
Amortized Cost	1,866	5,431
Gross Unrealized Gains		45
Gross Unrealized Losses	(17)
Fair Value	1,849	5,476
Corporate Bond [Member]
Securities Available for Sale:
Amortized Cost	10,000	2,500
Gross Unrealized Gains		21
Gross Unrealized Losses	(908)
Fair Value	$ 9,092	$ 2,521

INVESTMENT SECURITIES (Schedu_2

INVESTMENT SECURITIES (Schedule of Securities by Maturity) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Available for Sale, Amortized Cost
Due in one year or less	$ 1,866
Due after five years through ten years	149,996
Due after ten years	104,778
Total	256,640
Amortized Cost	661,045	$ 809,687
Available for Sale, Fair Value
Due in one year or less	1,849
Due after five years through ten years	122,413
Due after ten years	77,221
Total	201,483
Total Fair Value	554,648	796,753
Held to Maturity, Amortized Cost
Due after one year through five years	30,000
Due after five years through ten years	10,000
Total	40,000
Amortized Cost	102,291	108,680
Held to Maturity, Fair Value
Due after one year through five years	26,771
Due after five years through ten years	8,666
Total	35,437
Total Fair Value	87,187	108,460
Mortgage-Backed Securities-Residential [Member]
Available for Sale, Amortized Cost
Securities not due at a single maturity	372,471
Amortized Cost	372,471	481,062
Available for Sale, Fair Value
Securities not due at a single maturity	325,738
Total Fair Value	325,738	476,974
Held to Maturity, Amortized Cost
Securities not due at a single maturity	62,291
Amortized Cost	62,291	68,680
Held to Maturity, Fair Value
Securities not due at a single maturity	51,750
Total Fair Value	51,750	68,478
SBA Pool Securities [Member]
Available for Sale, Amortized Cost
Securities not due at a single maturity	31,934
Amortized Cost	31,934	40,649
Available for Sale, Fair Value
Securities not due at a single maturity	27,427
Total Fair Value	$ 27,427	$ 39,561

INVESTMENT SECURITIES - Additio

INVESTMENT SECURITIES - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale Securities		$ 453,700,000	$ 764,400,000
Held to maturity security carrying value		102,291,000	108,680,000
Other than temporary impairment charges		0	0	$ 0
Investment with fair value classified as equity security		12,985,000	14,685,000
Loss on securities sale, net	$ (6,609,000)	(6,609,000)
CRA Investment Fund [Member]
Schedule Of Available For Sale Securities [Line Items]
Investment with fair value classified as equity security		13,000,000	14,700,000
Loss on securities sale, net		$ (1,700,000)	$ (432,000)	$ 281,000

INVESTMENT SECURITIES - Summary

INVESTMENT SECURITIES - Summary of Gross Gains, Gross Losses and Net Tax Benefit Related to Proceeds on Sales of Securities Available for Sale (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Investments, Debt and Equity Securities [Abstract]
Proceeds on sales	$ 118,972
Gross gains	3
Gross losses	(6,612)
Net tax (benefit)/expense	$ 1,581

INVESTMENT SECURITIES (Schedu_3

INVESTMENT SECURITIES (Schedule of Available for Sale Securities in Continuous Unrealized Loss Position and Approximate Fair Value of Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Available for Sale Securities, Fair Value
Less Than 12 Months	$ 96,955	$ 530,647
12 Months or Longer	388,355	73,051
Total	485,310	603,698
Available for Sale Securities, Unrealized Losses
Less Than 12 Months	(5,339)	(14,478)
12 Months or Longer	(101,086)	(2,383)
Total	(106,425)	(16,861)
Held to Maturity Securities, Fair Value
Less Than 12 Months	28,809	73,282
12 Months or Longer	58,378	0
Total	87,187	73,282
Held to Maturity Securities, Unrealized Losses
Less Than 12 Months	(5,411)	(294)
12 Months or Longer	(9,693)	0
Total	(15,104)	(294)
Fair Value
Fair Value, Less than 12 months	125,764	603,929
Fair Value, 12 months or longer	446,733	73,051
Fair Value	572,497	676,980
Unrealized Losses
Unrealized Losses, Less than 12 months	(10,750)	(14,772)
Unrealized Losses, 12 months or longer	(110,779)	(2,383)
Unrealized Losses	(121,529)	(17,155)
U.S. Government-Sponsored Agencies [Member]
Available for Sale Securities, Fair Value
Less Than 12 Months		243,187
12 Months or Longer	190,542	29,034
Total	190,542	272,221
Available for Sale Securities, Unrealized Losses
Less Than 12 Months		(6,858)
12 Months or Longer	(54,232)	(966)
Total	(54,232)	(7,824)
Held to Maturity Securities, Fair Value
Less Than 12 Months	13,174	24,975
12 Months or Longer	22,263	0
Total	35,437	24,975
Held to Maturity Securities, Unrealized Losses
Less Than 12 Months	(1,826)	(25)
12 Months or Longer	(2,737)	0
Total	(4,563)	(25)
Mortgage-Backed Securities-Residential [Member]
Available for Sale Securities, Fair Value
Less Than 12 Months	82,907	265,403
12 Months or Longer	174,557	33,455
Total	257,464	298,858
Available for Sale Securities, Unrealized Losses
Less Than 12 Months	(4,082)	(7,053)
12 Months or Longer	(42,678)	(884)
Total	(46,760)	(7,937)
Held to Maturity Securities, Fair Value
Less Than 12 Months	15,635	48,307
12 Months or Longer	36,115	0
Total	51,750	48,307
Held to Maturity Securities, Unrealized Losses
Less Than 12 Months	(3,585)	(269)
12 Months or Longer	(6,956)	0
Total	(10,541)	(269)
SBA Pool Securities [Member]
Available for Sale Securities, Fair Value
Less Than 12 Months	3,377	22,057
12 Months or Longer	23,256	10,562
Total	26,633	32,619
Available for Sale Securities, Unrealized Losses
Less Than 12 Months	(332)	(567)
12 Months or Longer	(4,176)	(533)
Total	(4,508)	$ (1,100)
State and Political Subdivisions [Member]
Available for Sale Securities, Fair Value
Less Than 12 Months	1,579
Total	1,579
Available for Sale Securities, Unrealized Losses
Less Than 12 Months	(17)
Total	(17)
Corporate Bond [Member]
Available for Sale Securities, Fair Value
Less Than 12 Months	9,092
Total	9,092
Available for Sale Securities, Unrealized Losses
Less Than 12 Months	(908)
Total	$ (908)

LOANS (Schedule of Loans Outsta

LOANS (Schedule of Loans Outstanding, by Type of Loan) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Total loans	$ 5,285,246	$ 4,806,721
Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	100%	100%
Unallocated Financing Receivables [Member]
Total loans	$ 304	$ 238
Unallocated Financing Receivables [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	0.01%	0.01%
Primary Residential Mortgage [Member] | Residential Portfolio Segment [Member]
Total loans	$ 525,756	$ 498,300
Primary Residential Mortgage [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	9.95%	10.37%
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans	$ 1,863,915	$ 1,595,866
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	35.27%	33.20%
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 624,625	$ 662,626
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	11.82%	13.78%
Commercial Loans Including Equipment Financing [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 2,194,094	$ 1,955,157
Commercial Loans Including Equipment Financing [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	41.51%	40.67%
Construction [Member] | Commercial Portfolio Segment [Member]
Total loans	$ 4,042	$ 20,044
Construction [Member] | Commercial Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	0.07%	0.42%
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans	$ 34,496	$ 40,803
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	0.65%	0.85%
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other Loans [Member]
Total loans	$ 38,014	$ 33,687
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other Loans [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	0.72%	0.70%

LOANS (Schedule of Loan Balance

LOANS (Schedule of Loan Balances by Pool Segment and Portfolio Class) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Total loans	$ 5,281,581	$ 4,802,758
Net deferred costs		3,963
Total loans including net deferred costs	$ 5,285,246	$ 4,806,721
Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	100%	100%
Current Expected Credit Loss Methodology [Member]
Total loans	$ 5,281,581
Net deferred costs	3,665
Total loans including net deferred costs	5,285,246
Construction [Member]
Total loans	9,936
Construction [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 9,936
Construction [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.19%
Residential Portfolio Segment [Member]
Total loans	$ 527,784
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	527,784	$ 500,243
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		10.42%
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 527,784
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	9.99%
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	$ 1,863,915	$ 1,595,866
Total loans including net deferred costs	1,863,915	$ 1,595,866
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		33.23%
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 1,863,915
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	35.29%
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total loans		$ 40,803
Total loans including net deferred costs	$ 34,496	$ 40,803
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		0.85%
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	38,265	$ 3,191
Residential Portfolio Segment [Member] | Junior Lien [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		0.07%
Residential Portfolio Segment [Member] | Junior Lien [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 38,265
Residential Portfolio Segment [Member] | Junior Lien [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.73%
Commercial Real Estate Portfolio Segment [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 272,009
Commercial Real Estate Portfolio Segment [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	5.15%
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Total loans	$ 272,009	$ 252,603
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		5.26%
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans	1,044,125	$ 1,003,979
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		20.90%
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 1,044,125
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	19.77%
Commercial Portfolio Segment [Member] | Construction [Member]
Total loans	$ 9,936	$ 20,174
Total loans including net deferred costs	4,042	$ 20,044
Commercial Portfolio Segment [Member] | Construction [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		0.42%
Consumer and Other Loans [Member]
Total loans	42,319	$ 40,828
Consumer and Other Loans [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		0.85%
Consumer and Other Loans [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 42,319
Consumer and Other Loans [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.80%
Commercial and Industrial [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 1,194,662
Commercial and Industrial [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	22.62%
Commercial and Industrial [Member] | Commercial Portfolio Segment [Member]
Total loans	$ 1,194,662	$ 992,332
Commercial and Industrial [Member] | Commercial Portfolio Segment [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		20.66%
Lease Financing [Member]
Total loans	288,566	$ 345,868
Lease Financing [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 288,566
Lease Financing [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	5.46%
Lease Financing [Member] | Commercial Portfolio Segment [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		7.20%
Secured by Farmland and Agricultural [Member]
Total loans		$ 6,871
Secured by Farmland and Agricultural [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		0.14%

LOANS - Additional Information

LOANS - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) Contract	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Financing Receivable Recorded Investment Past Due [Line Items]
Loans held for sale, at lower of cost or fair value	$ 15,626,000	$ 34,051,000
Gain (loss) on loans held for sale at lower of cost or fair value		1,142,000	$ 7,426,000
Loan receivable, validate risk ratings performed for large sample or new lending to existing relationships	1,000,000
Loan receivable, validate risk ratings performed for criticized and classified rated borrowers with relationship exposure, value	500,000
Loan receivable, validate risk ratings performed for new regulation "O" loan commitments, value	1,000,000
Loan receivable validate risk ratings performed for leveraged loans, value	1,000,000
Loan receivable validate risk ratings performed for no borrower with commitments, value	500,000
Loan modifications	947,000,000
Troubled debt restructurings specific reserves to customers	$ 1,200,000	0
Deferral [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Bank modified loans and contracts | Contract	542
Substandard [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Financing receivable individually evaluated loan	$ 14,700,000	15,700,000
Minimum [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Loan receivable, validate risk ratings performed for large sample of borrowers with relationship, value	1,000,000
Maximum [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Loan receivable, validate risk ratings performed for small sample of borrowers with relationship, value	$ 1,000,000
Potential Problem Loans
Financing Receivable Recorded Investment Past Due [Line Items]
Loans held for sale, at lower of cost or fair value		6,700,000
Gain (loss) on loans held for sale at lower of cost or fair value		282,000
Residential Mortgage [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Loans held for sale, at lower of cost or fair value		12,200,000
Gain (loss) on loans held for sale at lower of cost or fair value		362,000
Paycheck Protection Program [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Loans held for sale, at lower of cost or fair value		56,500,000	355,000,000
Gain (loss) on loans held for sale at lower of cost or fair value		$ 1,100,000	$ 7,400,000

LOANS (Schedule of Related Part

LOANS (Schedule of Related Party Loan Balances) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Loans receivable from executive officers and directors
Balance, beginning of year	$ 4,337	$ 3,801
New loans	448	845
Repayments	(305)	(309)
Balance, at end of year	$ 4,480	$ 4,337

LOANS (Schedule of Record Inves

LOANS (Schedule of Record Investment in Nonaccrual and Loans Past Due Over 90 Days Still on Accrual) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Impaired non-accrual loans	$ 18,974	$ 15,573
Loans Past Due Over 90 Days And Still Accruing Interest	0	0
Residential Portfolio Segment [Member] | Junior Lien [Member]
Impaired non-accrual loans	0	18
Loans Past Due Over 90 Days And Still Accruing Interest	0	0
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Impaired non-accrual loans	2,339	1,851
Loans Past Due Over 90 Days And Still Accruing Interest	0	0
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Impaired non-accrual loans	0	458
Loans Past Due Over 90 Days And Still Accruing Interest	0	0
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Impaired non-accrual loans	11,208	12,750
Loans Past Due Over 90 Days And Still Accruing Interest	0	0
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Impaired non-accrual loans	3,662	496
Loans Past Due Over 90 Days And Still Accruing Interest	0	$ 0
Commercial Portfolio Segment [Member] | Lease Financing [Member]
Impaired non-accrual loans	$ 1,765

LOANS (Schedule of Aging of Pas

LOANS (Schedule of Aging of Past Due Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
30 to 59 Days Past Due [Member]
Total past due loans	$ 6,911	$ 8,464
30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total past due loans	1,145	639
30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total past due loans	882
30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total past due loans	4,884	7,825
60 to 89 Days Past Due [Member]
Total past due loans	681	142
60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total past due loans	681	142
Greater Than 90 Days [Member]
Total past due loans	0	0
Greater Than 90 Days [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total past due loans	0	0
Total Past Due [Member]
Total past due loans	7,592	8,606
Total Past Due [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total past due loans	1,145	639
Total Past Due [Member] | Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total past due loans	882
Total Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total past due loans	$ 5,565	$ 7,967

LOANS - (Summary of Credit Risk

LOANS - (Summary of Credit Risk Profile of Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
2022	$ 1,347,673
2021	1,256,712
2020	399,209
2019	587,690
2018	228,982
2017 and Prior	971,761
Revolving	389,969
Revolving-Term	99,585
Total Loans	5,281,581	$ 4,802,758
Pass [Member]
2022	1,318,523
2021	1,254,820
2020	395,688
2019	561,649
2018	228,371
2017 and Prior	948,308
Revolving	381,317
Revolving-Term	85,078
Total Loans	5,173,754	4,635,566
Special Mention [Member]
2022	16,389
2020	826
2019	13,015
2018	193
2017 and Prior	15,005
Revolving	258
Revolving-Term	14,507
Total Loans	60,193	116,490
Substandard [Member]
2022	12,761
2021	1,892
2020	2,695
2019	13,026
2018	418
2017 and Prior	8,448
Revolving	8,394
Total Loans	47,634	50,702
Lease Financing [Member]
2022	75,139
2021	71,925
2020	58,262
2019	50,707
2018	24,408
2017 and Prior	8,125
Total Loans	288,566	345,868
Lease Financing [Member] | Pass [Member]
2022	73,155
2021	71,925
2020	58,262
2019	48,942
2018	24,408
2017 and Prior	8,125
Total Loans	284,817	345,868
Lease Financing [Member] | Special Mention [Member]
2022	1,984
Total Loans	1,984
Lease Financing [Member] | Substandard [Member]
2019	1,765
Total Loans	1,765
Construction [Member]
Total Loans	9,936
Residential Portfolio Segment [Member]
2022	118,864
2021	87,312
2020	63,087
2019	38,946
2018	27,350
2017 and Prior	191,534
Revolving-Term	691
Total Loans	527,784
Residential Portfolio Segment [Member] | Substandard [Member]
Total Loans	2,432
Residential Portfolio Segment [Member] | Junior Lien [Member]
2022	1,631
2021	177
2020	42
2019	639
2018	326
2017 and Prior	953
Revolving	34,497
Total Loans	38,265	3,191
Residential Portfolio Segment [Member] | Junior Lien [Member] | Pass [Member]
2022	1,631
2021	177
2020	42
2019	639
2018	326
2017 and Prior	953
Revolving	33,996
Total Loans	37,764	3,173
Residential Portfolio Segment [Member] | Junior Lien [Member] | Substandard [Member]
Revolving	501
Total Loans	501	18
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
2022	118,864
2021	87,312
2020	62,540
2019	37,902
2018	27,209
2017 and Prior	190,834
Revolving-Term	691
Total Loans	527,784	500,243
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Pass [Member]
Total Loans	525,352	494,444
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Special Mention [Member]
Total Loans		557
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Substandard [Member]
2020	547
2019	1,044
2018	141
2017 and Prior	700
Total Loans		5,242
Residential Portfolio Segment [Member] | Multifamily Property [Member]
2022	488,657
2021	678,507
2020	118,220
2019	226,975
2018	33,884
2017 and Prior	315,001
Revolving	1,246
Revolving-Term	1,425
Total Loans	1,863,915	1,595,866
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Pass [Member]
2022	488,657
2021	678,507
2020	118,220
2019	224,129
2018	33,884
2017 and Prior	305,628
Revolving	1,246
Revolving-Term	1,425
Total Loans	1,851,696	1,579,776
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Special Mention [Member]
2017 and Prior	1,696
Total Loans	1,696	7,720
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Substandard [Member]
2019	2,846
2017 and Prior	7,677
Total Loans	10,523	8,370
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
2022	25,315
2021	43,916
2020	20,679
2019	12,244
2018	22,422
2017 and Prior	126,237
Revolving	608
Revolving-Term	20,588
Total Loans	272,009	252,603
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member] | Pass [Member]
2022	25,315
2021	43,916
2020	20,679
2019	12,244
2018	22,422
2017 and Prior	126,237
Revolving	608
Revolving-Term	20,588
Total Loans	272,009
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
2022	201,037
2021	154,715
2020	59,444
2019	172,487
2018	93,330
2017 and Prior	318,528
Revolving	6,590
Revolving-Term	37,994
Total Loans	1,044,125	1,003,979
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Pass [Member]
2022	189,829
2021	154,715
2020	59,444
2019	155,995
2018	93,330
2017 and Prior	305,219
Revolving	6,590
Revolving-Term	23,487
Total Loans	988,609	901,877
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Special Mention [Member]
2019	13,015
2017 and Prior	13,309
Revolving-Term	14,507
Total Loans	40,831	87,297
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Substandard [Member]
2022	11,208
2019	3,477
Total Loans	14,685	14,805
Consumer and Other [Member]
2021	381
2020	194
2017 and Prior	5,753
Revolving	31,287
Revolving-Term	4,704
Total Loans	42,319	40,828
Consumer and Other [Member] | Pass [Member]
2021	381
2020	194
2017 and Prior	5,753
Revolving	31,287
Revolving-Term	4,704
Total Loans	42,319	40,828
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
2022	437,030
2021	219,779
2020	79,281
2019	84,253
2018	27,262
2017 and Prior	5,630
Revolving	311,677
Revolving-Term	29,750
Total Loans	1,194,662	992,332
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member]
2022	421,072
2021	217,887
2020	76,307
2019	80,359
2018	26,792
2017 and Prior	5,559
Revolving	303,526
Revolving-Term	29,750
Total Loans	1,161,252	951,127
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Special Mention [Member]
2022	14,405
2020	826
2018	193
Revolving	258
Total Loans	15,682	20,178
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Substandard [Member]
2022	1,553
2021	1,892
2020	2,148
2019	3,894
2018	277
2017 and Prior	71
Revolving	7,893
Total Loans	17,728	21,027
Commercial Portfolio Segment [Member] | Construction [Member]
2019	1,439
Revolving	4,064
Revolving-Term	4,433
Total Loans	9,936	20,174
Commercial Portfolio Segment [Member] | Construction [Member] | Pass [Member]
2019	1,439
Revolving	4,064
Revolving-Term	4,433
Total Loans	$ 9,936	20,099
Commercial Portfolio Segment [Member] | Construction [Member] | Special Mention [Member]
Total Loans		$ 75

LOANS (Schedule of Risk Categor

LOANS (Schedule of Risk Category of Loans by Class of Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Total loans	$ 5,281,581	$ 4,802,758
Lease Financing [Member]
Total loans	288,566	345,868
Secured by Farmland and Agricultural [Member]
Total loans		6,871
Construction [Member]
Total loans	9,936
Residential Portfolio Segment [Member]
Total loans	527,784
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	38,265	3,191
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	527,784	500,243
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total loans		40,803
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	1,863,915	1,595,866
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans	1,044,125	1,003,979
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total loans	1,194,662	992,332
Commercial Portfolio Segment [Member] | Construction [Member]
Total loans	9,936	20,174
Consumer and Other Loans [Member]
Total loans	42,319	40,828
Pass [Member]
Total loans	5,173,754	4,635,566
Pass [Member] | Lease Financing [Member]
Total loans	284,817	345,868
Pass [Member] | Secured by Farmland and Agricultural [Member]
Total loans		6,871
Pass [Member] | Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	37,764	3,173
Pass [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	525,352	494,444
Pass [Member] | Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total loans		40,274
Pass [Member] | Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	1,851,696	1,579,776
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Total loans		251,229
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans	988,609	901,877
Pass [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total loans	1,161,252	951,127
Pass [Member] | Commercial Portfolio Segment [Member] | Construction [Member]
Total loans	9,936	20,099
Pass [Member] | Consumer and Other Loans [Member]
Total loans	42,319	40,828
Special Mention [Member]
Total loans	60,193	116,490
Special Mention [Member] | Lease Financing [Member]
Total loans	1,984
Special Mention [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans		557
Special Mention [Member] | Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	1,696	7,720
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Total loans		663
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans	40,831	87,297
Special Mention [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total loans	15,682	20,178
Special Mention [Member] | Commercial Portfolio Segment [Member] | Construction [Member]
Total loans		75
Substandard [Member]
Total loans	47,634	50,702
Substandard [Member] | Lease Financing [Member]
Total loans	1,765
Substandard [Member] | Residential Portfolio Segment [Member]
Total loans	2,432
Substandard [Member] | Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	501	18
Substandard [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans		5,242
Substandard [Member] | Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total loans		529
Substandard [Member] | Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	10,523	8,370
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Total loans		711
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans	14,685	14,805
Substandard [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total loans	$ 17,728	$ 21,027

LOANS (Schedule of Loans Modifi

LOANS (Schedule of Loans Modified as Troubled Debt Restructurings) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) Loan	Dec. 31, 2021 USD ($) Loan	Dec. 31, 2020 USD ($) Loan
Number of Loans | Loan	1	5	4
Pre-Modification Outstanding Recorded Investment	$ 11,208	$ 2,691	$ 462
Post-Modification Outstanding Recorded Investment	$ 11,208	$ 2,691	$ 462
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Number of Loans | Loan	1
Pre-Modification Outstanding Recorded Investment	$ 11,208
Post-Modification Outstanding Recorded Investment	$ 11,208
Residential Portfolio Segment [Member] | Junior Lien [Member]
Number of Loans | Loan		1
Pre-Modification Outstanding Recorded Investment		$ 18
Post-Modification Outstanding Recorded Investment		$ 18
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Number of Loans | Loan		3	3
Pre-Modification Outstanding Recorded Investment		$ 603	$ 423
Post-Modification Outstanding Recorded Investment		$ 603	$ 423
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Number of Loans | Loan		1	1
Pre-Modification Outstanding Recorded Investment		$ 2,070	$ 39
Post-Modification Outstanding Recorded Investment		$ 2,070	$ 39

LOANS (Schedule of Modified as

LOANS (Schedule of Modified as Troubled Debt Restructurings Subsequently Defaulted) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) Loan	Dec. 31, 2020 USD ($) Loan
Number of Subsequently Defaulted Loans | Loan	1	2
Subsequently Defaulted Recorded Investment | $	$ 218	$ 172
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Number of Subsequently Defaulted Loans | Loan	1	1
Subsequently Defaulted Recorded Investment | $	$ 218	$ 133
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Number of Subsequently Defaulted Loans | Loan		1
Subsequently Defaulted Recorded Investment | $		$ 39

ALLOWANCE FOR CREDIT LOSSES - A

ALLOWANCE FOR CREDIT LOSSES - Additional Information (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020	Jan. 01, 2022	Dec. 31, 2019
Financing Receivable Recorded Investment Past Due [Line Items]
Accrued interest receivable		$ 25,157,000		$ 21,589,000
Individually evaluated include Nonaccrual loans		15,800,000		15,600,000
Individually evaluated loans balance		14,055,000		19,887,000
Recording charge-off		1,200,000
Individually evaluated non-accrual loans performing troubled debt restructured		150,000		2,500,000
Allowance allocated to troubled debt restructured loans		1,200,000		0
Allowance for credit losses		60,829,000	[1]	61,697,000	[1]	$ 67,309,000		$ 43,676,000
Reduction to allowance for credit losses		(752,000)
Provision for credit losses	[2]	$ 6,353,000		$ 6,475,000		$ 32,400,000
Allowance for credit losses, percentage of loans		1.15%		1.28%
Off-balance sheet commitments, provision		$ 450,000
Loans [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Accrued interest receivable		$ 22,800,000		$ 19,100,000
ASU 2016-13 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Reduction to allowance for credit losses							$ 5,500,000
[1] Commencing on January 1, 2022, the allowance calculation is based on the current expected credit loss ("CECL") methodology. Prior to January 1, 2022, the calculation was based on the incurred loss methodology. Commencing on January 1, 2022, the allowance calculation is based on the CECL methodology. Prior to January 1, 2022 the calculation was based on the incurred loss methodology.

ALLOWANCE FOR CREDIT LOSSES (Sc

ALLOWANCE FOR CREDIT LOSSES (Schedule of Balances by Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020	Dec. 31, 2019
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	$ 16,732		$ 18,052
Ending ACL Attributable to Loans Individually Evaluated for Impairment	1,507		4,234
Total Loans Collectively Evaluated for Impairment	5,264,849		4,784,706
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	59,322		57,463
Total Loans	5,281,581		4,802,758
Total Ending ACL	60,829	[1]	61,697	[1]	$ 67,309	$ 43,676
Lease Financing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	1,765
Total Loans Collectively Evaluated for Impairment	286,801		345,868
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	2,314		3,440
Total Loans	288,566		345,868
Total Ending ACL	2,314		3,440
Secured by Farmland and Agricultural [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Collectively Evaluated for Impairment			6,871
Ending ACL Attributable to Loans Collectively Evaluated for Impairment			84
Total Loans			6,871
Total Ending ACL			84
Construction [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Collectively Evaluated for Impairment	9,936
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	236
Total Loans	9,936
Total Ending ACL	236
Residential Portfolio Segment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans	527,784
Residential Portfolio Segment [Member] | Junior Lien [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment			18
Total Loans Collectively Evaluated for Impairment	38,265		3,173
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	154		5
Total Loans	38,265		3,191
Total Ending ACL	154		5		15	13
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	374		2,242
Total Loans Collectively Evaluated for Impairment	527,410		498,001
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	2,894		1,432
Total Loans	527,784		500,243
Total Ending ACL	2,894		1,432		2,905	2,090
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Collectively Evaluated for Impairment	1,863,915		1,595,866
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	8,849		9,806
Total Loans	1,863,915		1,595,866
Total Ending ACL	8,849		9,806		9,945	6,037
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Collectively Evaluated for Impairment			40,803
Ending ACL Attributable to Loans Collectively Evaluated for Impairment			83
Total Loans			40,803
Total Ending ACL			83		218	128
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment			458
Total Loans Collectively Evaluated for Impairment	272,009		252,145
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	4,835		1,998
Total Loans	272,009		252,603
Total Ending ACL	4,835		1,998		3,050	2,064
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	11,208		12,750
Ending ACL Attributable to Loans Individually Evaluated for Impairment	1,208		4,234
Total Loans Collectively Evaluated for Impairment	1,032,917		991,229
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	14,272		22,849
Total Loans	1,044,125		1,003,979
Total Ending ACL	15,480		27,083		27,713	15,988
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	3,385		2,584
Ending ACL Attributable to Loans Individually Evaluated for Impairment	299
Total Loans Collectively Evaluated for Impairment	1,191,277		989,748
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	25,231		17,509
Total Loans	1,194,662		992,332
Total Ending ACL	25,530		17,509		19,047	14,353
Commercial Portfolio Segment [Member] | Construction [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Collectively Evaluated for Impairment			20,174
Ending ACL Attributable to Loans Collectively Evaluated for Impairment			42
Total Loans	9,936		20,174
Total Ending ACL	236		42		158	27
Consumer and Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Collectively Evaluated for Impairment	42,319		40,828
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	537		215
Total Loans	42,319		40,828
Total Ending ACL	$ 537		$ 215		$ 279	$ 296
[1] Commencing on January 1, 2022, the allowance calculation is based on the current expected credit loss ("CECL") methodology. Prior to January 1, 2022, the calculation was based on the incurred loss methodology.

ALLOWANCE FOR CREDIT LOSSES (_2

ALLOWANCE FOR CREDIT LOSSES (Schedule of Loans Individually Evaluated by Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Unpaid Principal Balance
With no related allowance recorded	$ 6,075	$ 7,512
With related allowance recorded:	14,055	19,887
Total loans individually evaluated for impairment	20,130	27,399
Recorded Investment
With no related allowance recorded	3,975	5,302
With related allowance recorded:	12,757	12,750
Total loans individually evaluated for impairment	16,732	18,052
Related Allowance	1,507	4,234
Average Individually Evaluated Loans
With no related allowance recorded	1,232	5,514
With related allowance recorded:	12,576	6,034
Total loans individually evaluated for impairment	13,808	11,548
Lease Financing [Member]
Unpaid Principal Balance
With no related allowance recorded	1,792
Recorded Investment
With no related allowance recorded	1,765
Average Individually Evaluated Loans
With no related allowance recorded	444
Residential Portfolio Segment [Member] | Junior Lien [Member]
Unpaid Principal Balance
With no related allowance recorded		18
Recorded Investment
With no related allowance recorded		18
Average Individually Evaluated Loans
With no related allowance recorded		3
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Unpaid Principal Balance
With no related allowance recorded	415	2,453
Recorded Investment
With no related allowance recorded	374	2,242
Average Individually Evaluated Loans
With no related allowance recorded	249	1,818
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Unpaid Principal Balance
With no related allowance recorded		492
Recorded Investment
With no related allowance recorded		458
Average Individually Evaluated Loans
With no related allowance recorded		540
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Unpaid Principal Balance
With related allowance recorded:	12,500	19,887
Recorded Investment
With related allowance recorded:	11,208	12,750
Related Allowance	1,208	4,234
Average Individually Evaluated Loans
With related allowance recorded:	12,402	6,034
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Unpaid Principal Balance
With no related allowance recorded	3,868	4,549
With related allowance recorded:	1,555
Recorded Investment
With no related allowance recorded	1,836	2,584
With related allowance recorded:	1,549
Related Allowance	299
Average Individually Evaluated Loans
With no related allowance recorded	539	$ 3,153
With related allowance recorded:	$ 174

ALLOWANCE FOR CREDIT LOSSES (_3

ALLOWANCE FOR CREDIT LOSSES (Schedule of Activity in Allowance for Loan Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	$ 61,697	[1]	$ 67,309		$ 43,676
Charge-Offs	(1,506)		(12,248)		(9,203)
Recoveries	271		161		436
Provision (Credit)	5,903		6,475		32,400
Ending ALLL	60,829	[1]	61,697	[1]	67,309
Pre-ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	61,697
Ending ALLL			61,697
Impact of ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Impact of adopting Topic 326	(5,536)
Secured by Farmland and Agricultural [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	84		43		38
Provision (Credit)			41		5
Ending ALLL			84		43
Construction [Member]
Loans And Leases Receivable Disclosure [Line Items]
Ending ALLL	236
Residential Portfolio Segment [Member] | Junior Lien [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	5		15		13
Charge-Offs	(3)
Provision (Credit)	(14)		(10)		2
Ending ALLL	154		5		15
Residential Portfolio Segment [Member] | Junior Lien [Member] | Pre-ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	88
Ending ALLL			88
Residential Portfolio Segment [Member] | Junior Lien [Member] | Impact of ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Impact of adopting Topic 326	83
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	1,432		2,905		2,090
Charge-Offs			(12)		(559)
Recoveries	15				373
Provision (Credit)	652		(1,461)		1,001
Ending ALLL	2,894		1,432		2,905
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Pre-ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	1,510
Ending ALLL			1,510
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Impact of ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Impact of adopting Topic 326	717
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	83		218		128
Recoveries			85		11
Provision (Credit)			(220)		79
Ending ALLL			83		218
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	9,806		9,945		6,037
Charge-Offs					(56)
Provision (Credit)	(5,029)		(139)		3,964
Ending ALLL	8,849		9,806		9,945
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Pre-ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	9,806
Ending ALLL			9,806
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Impact of ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Impact of adopting Topic 326	4,072
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	1,998		3,050		2,064
Charge-Offs					(51)
Provision (Credit)	(65)		(1,052)		1,037
Ending ALLL	4,835		1,998		3,050
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member] | Pre-ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	1,998
Ending ALLL			1,998
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member] | Impact of ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Impact of adopting Topic 326	2,902
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	27,083		27,713		15,988
Charge-Offs	(1,450)		(7,137)		(6,092)
Recoveries					31
Provision (Credit)	3,436		6,507		17,786
Ending ALLL	15,480		27,083		27,713
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Pre-ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	27,083
Ending ALLL			27,083
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Impact of ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Impact of adopting Topic 326	(13,589)
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	17,509		19,047		14,353
Charge-Offs			(5,019)		(2,418)
Recoveries	254		66		17
Provision (Credit)	8,424		3,415		7,095
Ending ALLL	25,530		17,509		19,047
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pre-ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	17,509
Ending ALLL			17,509
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Impact of ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Impact of adopting Topic 326	(657)
Commercial Portfolio Segment [Member] | Lease Financing [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	3,440		3,936		2,642
Provision (Credit)	(1,282)		(496)		1,294
Ending ALLL	2,314		3,440		3,936
Commercial Portfolio Segment [Member] | Lease Financing [Member] | Pre-ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	3,440
Ending ALLL			3,440
Commercial Portfolio Segment [Member] | Lease Financing [Member] | Impact of ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Impact of adopting Topic 326	156
Commercial Portfolio Segment [Member] | Construction [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	42		158		27
Provision (Credit)	(173)		(116)		131
Ending ALLL	236		42		158
Commercial Portfolio Segment [Member] | Construction [Member] | Pre-ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	48
Ending ALLL			48
Commercial Portfolio Segment [Member] | Construction [Member] | Impact of ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Impact of adopting Topic 326	361
Consumer and Other [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	215		279		296
Charge-Offs	(53)		(80)		(27)
Recoveries	2		10		4
Provision (Credit)	(46)		6		6
Ending ALLL	537		215		$ 279
Consumer and Other [Member] | Pre-ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ALLL	215
Ending ALLL			$ 215
Consumer and Other [Member] | Impact of ASC-326 Adoption [Member]
Loans And Leases Receivable Disclosure [Line Items]
Impact of adopting Topic 326	$ 419
[1] Commencing on January 1, 2022, the allowance calculation is based on the current expected credit loss ("CECL") methodology. Prior to January 1, 2022, the calculation was based on the incurred loss methodology.

ALLOWANCE FOR CREDIT LOSSES (_4

ALLOWANCE FOR CREDIT LOSSES (Schedule of Activity in Allowance for Loan Losses) (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Credit Loss [Abstract]
Off-balance sheet commitments, provision	$ 450,000

ALLOWANCE FOR CREDIT LOSSES - (

ALLOWANCE FOR CREDIT LOSSES - (Schedule of Activity in ACL for Off Balance Sheet Commitments) (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Credit Loss [Abstract]
Off balance sheet commitments, Impact of adiopting Topic 326	$ 302,000
Off balance sheet commitments, Provision (Credit)	450,000
Off balance sheet commitments, Ending ACL	752,000
Total ACL, Impact of adopting Topic 326	302,000
Total ACL, Provision (Credit)	450,000
Total ACL, Ending ACL	$ 752,000

PREMISES AND EQUIPMENT (Schedul

PREMISES AND EQUIPMENT (Schedule of Premises and Equipment Including Finance Lease Right of Use Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Premises and equipment, gross	$ 60,606	$ 58,684
Less: accumulated depreciation	36,775	35,640
Total	23,831	23,044
Land and buildings	11,237	11,237
Less: accumulated depreciation	8,402	7,655
Total	2,835	3,582
Land and Land Improvements [Member]
Premises and equipment, gross	6,853	6,947
Buildings [Member]
Premises and equipment, gross	12,332	13,404
Furniture and Equipment [Member]
Premises and equipment, gross	25,484	24,285
Leasehold Improvements [Member]
Premises and equipment, gross	14,891	13,861
Projects in Progress [Member]
Premises and equipment, gross	$ 1,046	$ 187

PREMISES AND EQUIPMENT - Additi

PREMISES AND EQUIPMENT - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Depreciation	$ 3,475,000	$ 3,190,000	$ 3,127,000
Depreciation expense on leased assets	607,000	607,000	607,000
Gladstone Property [Member]
Depreciation	$ 141,000	$ 141,000	$ 141,000

PREMISES AND EQUIPMENT (Sched_2

PREMISES AND EQUIPMENT (Schedule of Future Minimum Lease Payments Under Finance Lease Right-of-Use Asset) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
2023	$ 1,456
2024	1,456
2025	939
2026	215
2027	226
Thereafter	903
Total minimum lease payments	5,195
Less: amount representing interest	499
Present value of net minimum lease payments	$ 4,696	$ 5,820

DEPOSITS - Additional Informati

DEPOSITS - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deposits [Abstract]
Time deposits over $250,000	$ 91.1	$ 140.4

DEPOSITS (Schedule of Details o

DEPOSITS (Schedule of Details of Total Deposits) (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Deposits:
Noninterest-bearing demand deposits		$ 1,246,066	$ 956,482
Interest-bearing checking	[1]	2,143,611	2,287,894
Savings		157,338	154,914
Money market		1,228,234	1,307,051
Certificates of deposit - retail		318,573	409,608
Certificates of deposit - listing service		25,358	31,382
Subtotal deposits		5,119,180	5,147,331
Interest-bearing demand - Brokered		60,000	85,000
Certificates of deposit - Brokered		25,984	33,818
Total deposits		$ 5,205,164	$ 5,266,149
%
Noninterest-bearing demand deposits		23.94%	18.16%
Interest-bearing checking	[1]	41.18%	43.45%
Savings		3.02%	2.94%
Money market		23.60%	24.82%
Certificates of deposit - retail		6.12%	7.78%
Certificates of deposit - listing service		0.49%	0.60%
Subtotal deposits		98.35%	97.75%
Interest-bearing demand - Brokered		1.15%	1.61%
Certificates of deposit - Brokered		0.50%	0.64%
Total deposits		100%	100%
[1] Interest-bearing checking includes $ 620.1 million at December 31, 2022 and $ 647.8 million at December 31, 2021 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace programs.

DEPOSITS (Details of Total Depo

DEPOSITS (Details of Total Deposits) (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deposits:
Reciprocal balances	$ 620.1	$ 647.8

DEPOSITS (Scheduled Maturities

DEPOSITS (Scheduled Maturities of Time Deposits) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Scheduled maturities of time deposits
2023	$ 211,694
2024	104,417
2025	44,815
2026	6,374
2027	2,615
Total	$ 369,915

FEDERAL HOME LOAN BANK ADVANC_2

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Overnight borrowings with FHLB	$ 379,530
FHLB interest rate	4.61%
Unused commitments from FHLB	$ 1,500,000
Unused short-term or overnight borrowings from correspondent banks	22,000
Unused short-term or overnight borrowings from FRB	1,800,000
Federal Reserve Bank of New York [Member]
Debt Instrument [Line Items]
Overnight borrowings with FHLB	$ 379,500	$ 0

FAIR VALUE - Additional Informa

FAIR VALUE - Additional Information (Details) - Loans [Member] - Property A [Member]	12 Months Ended
	Dec. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Discount rate	15%
Age of appraisal	12 months

FAIR VALUE (Schedule of Assets

FAIR VALUE (Schedule of Assets Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Securities available for sale	$ 554,648	$ 796,753
Loans held for sale, at fair value		3,040
U.S. Government-Sponsored Agencies [Member]
Securities available for sale	190,542	272,221
Mortgage-Backed Securities-Residential [Member]
Securities available for sale	325,738	476,974
SBA Pool Securities [Member]
Securities available for sale	27,427	39,561
State and Political Subdivisions [Member]
Securities available for sale	1,849	5,476
Corporate Bond [Member]
Securities available for sale	$ 9,092	2,521
Recurring Basis [Member]
Loans held for sale, at fair value		$ 3,040
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets	Other Assets
Total	$ 615,187	$ 846,804
Derivatives	$ 38,265	$ 38,048
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Other Accrued Liabilities	Accounts Payable and Other Accrued Liabilities
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Total	$ 12,985	$ 14,685
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Loans held for sale, at fair value		3,040
Total	602,202	832,119
Derivatives	38,265	38,048
Recurring Basis [Member] | U.S. Government-Sponsored Agencies [Member]
Securities available for sale	190,542	272,221
Recurring Basis [Member] | U.S. Government-Sponsored Agencies [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	190,542	272,221
Recurring Basis [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale	325,738	476,974
Recurring Basis [Member] | Mortgage-Backed Securities-Residential [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	325,738	476,974
Recurring Basis [Member] | SBA Pool Securities [Member]
Securities available for sale	27,427	39,561
Recurring Basis [Member] | SBA Pool Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	27,427	39,561
Recurring Basis [Member] | State and Political Subdivisions [Member]
Securities available for sale	1,849	5,476
Recurring Basis [Member] | State and Political Subdivisions [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	1,849	5,476
Recurring Basis [Member] | Corporate Bond [Member]
Securities available for sale	9,092	2,521
Recurring Basis [Member] | Corporate Bond [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	9,092	2,521
Recurring Basis [Member] | CRA Investment Fund [Member]
Securities available for sale	12,985	14,685
Recurring Basis [Member] | CRA Investment Fund [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Securities available for sale	12,985	14,685
Designated as Hedging Instrument [Member] | Recurring Basis [Member]
Derivatives	9,289
Derivatives		3,479
Designated as Hedging Instrument [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Derivatives	9,289
Derivatives		3,479
Not Designated as Hedging Instrument [Member] | Recurring Basis [Member]
Derivatives	38,265	32,326
Derivatives	38,265	34,569
Not Designated as Hedging Instrument [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Derivatives	38,265	32,326
Derivatives	$ 38,265	$ 34,569

FAIR VALUE (Schedule of Residen

FAIR VALUE (Schedule of Residential Loans Held for Sale, at Fair Value) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Fair Value Disclosures [Abstract]
Residential loans contractual balance	$ 2,992
Fair value adjustment	48
Total fair value of residential loans held for sale	$ 3,040

FAIR VALUE (Schedule of Asset_2

FAIR VALUE (Schedule of Assets Measured on a Non-Recurring Basis) (Details) - Non-Recurring Basis [Member] - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Commercial and Industrial [Member]
Individually evaluated loans	$ 743
Commercial and Industrial [Member] | Significant Unobservable Inputs (Level 3) [Member]
Individually evaluated loans	743
Investment Property [Member]
Individually evaluated loans	10,000	$ 8,516
Investment Property [Member] | Significant Unobservable Inputs (Level 3) [Member]
Individually evaluated loans	$ 10,000	$ 8,516

FAIR VALUE (Schedule of Financi

FAIR VALUE (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands		Dec. 31, 2022		Dec. 31, 2021
Financial Assets:
Securities available for sale		$ 554,648		$ 796,753
Securities held to maturity (fair value $87,187 at December 31, 2022 and $108,460 at December 31, 2021)		102,291		108,680
FHLB and FRB stock	[1]	30,672		12,950
Loans held for sale, at fair value				3,040
Loans held for sale, at lower of cost or fair value		15,626		34,051
Accrued interest receivable		25,157		21,589
Carrying Value [Member]
Financial Assets:
Cash and cash equivalents		190,075		146,804
Securities available for sale		554,648		796,753
Securities held to maturity (fair value $87,187 at December 31, 2022 and $108,460 at December 31, 2021)		102,291		108,680
CRA investment fund		12,985		14,685
FHLB and FRB stock		30,672		12,950
Loans held for sale, at fair value				3,040
Loans held for sale, at lower of cost or fair value		15,626		34,051
Loans, net of allowance for credit losses		5,224,417		4,745,024
Accrued interest receivable		25,157		21,589
Financial Liabilities:
Deposits		5,205,164		5,266,149
Short-term borrowings		379,530
Subordinated debt		132,987		132,701
Accrued interest payable		2,997		651
Fair value [Member]
Financial Assets:
Cash and cash equivalents		190,075		146,804
Securities available for sale		554,648		796,753
Securities held to maturity (fair value $87,187 at December 31, 2022 and $108,460 at December 31, 2021)		87,187		108,460
CRA investment fund		12,985		14,685
Loans held for sale, at fair value				3,040
Loans held for sale, at lower of cost or fair value		17,176		37,538
Loans, net of allowance for credit losses		5,141,201		4,767,293
Accrued interest receivable		25,157		21,589
Financial Liabilities:
Deposits		5,192,224		5,268,000
Short-term borrowings		379,530
Subordinated debt		119,865		140,556
Accrued interest payable		2,997		651
Fair value [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Financial Assets:
Cash and cash equivalents		190,075		146,804
CRA investment fund		12,985		14,685
Financial Liabilities:
Deposits		4,835,249		4,791,341
Accrued interest payable		2,509		130
Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Securities available for sale		554,648		796,753
Securities held to maturity (fair value $87,187 at December 31, 2022 and $108,460 at December 31, 2021)		87,187		108,460
Loans held for sale, at fair value				3,040
Loans held for sale, at lower of cost or fair value		17,176		37,538
Accrued interest receivable		2,393		2,443
Financial Liabilities:
Deposits		356,975		476,659
Short-term borrowings		379,530
Accrued interest payable		413		446
Fair value [Member] | Significant Unobservable Inputs (Level 3) [Member]
Financial Assets:
Loans, net of allowance for credit losses		5,141,201		4,767,293
Accrued interest receivable		22,764		19,146
Financial Liabilities:
Subordinated debt		119,865		140,556
Accrued interest payable		75		75
Not Designated as Hedging Instrument [Member] | Carrying Value [Member]
Financial Assets:
Accrued interest receivable		1,092	[2]	4,842	[3]
Derivatives		38,265		32,326
Financial Liabilities:
Accrued interest payable		1,092	[4]	4,842	[5]
Derivatives		38,265		34,569
Not Designated as Hedging Instrument [Member] | Fair value [Member]
Financial Assets:
Accrued interest receivable		1,092	[2]	4,842	[3]
Derivatives		38,265		32,326
Financial Liabilities:
Accrued interest payable		1,092	[4]	4,842	[5]
Derivatives		38,265		34,569
Not Designated as Hedging Instrument [Member] | Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Accrued interest receivable		1,092	[2]	4,842	[3]
Derivatives		38,265		32,326
Financial Liabilities:
Accrued interest payable		1,092	[4]	4,842	[5]
Derivatives		38,265		34,569
Designated as Hedging Instrument [Member] | Carrying Value [Member]
Financial Assets:
Derivatives		9,289
Financial Liabilities:
Derivatives				3,479
Designated as Hedging Instrument [Member] | Fair value [Member]
Financial Assets:
Derivatives		9,289
Financial Liabilities:
Derivatives				3,479
Designated as Hedging Instrument [Member] | Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Derivatives		$ 9,289
Financial Liabilities:
Derivatives				$ 3,479
[1] FHLB means "Federal Home Loan Bank" and FRB means "Federal Reserve Bank." Included in other assets in the Consolidated Statement of Condition. Included in other assets in the Consolidated Statement of Condition. Included in accrued expenses and other liabilities in the Consolidated Statement of Condition. Included in accrued expenses and other liabilities in the Consolidated Statement of Condition.

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Schedule of Noninterest Income) (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Service charges on deposits
Overdraft fees		$ 488,000	$ 415,000	$ 405,000
Interchange income		1,451,000	1,451,000	1,208,000
Other		2,286,000	1,831,000	1,542,000
Wealth management fees	[1]	54,651,000	52,987,000	40,861,000
Gains on sales of OREO		0	51,000	0
Gain on sale of property		275,000	0	0
Corporate advisory fee income		1,704,000	3,483,000	265,000
Other	[2]	5,562,000	12,025,000	17,479,000
Total noninterest other income		$ 66,417,000	$ 72,243,000	$ 61,760,000
[1] Includes investment brokerage fees. All of the other category is outside the scope of ASC 606.

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS (Schedule of Noninterest Income by Operating Segment) (Details) - USD ($)		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Service charges on deposits
Overdraft fees		$ 488,000	$ 415,000	$ 405,000
Interchange income		1,451,000	1,451,000	1,208,000
Other		2,286,000	1,831,000	1,542,000
Wealth management fees	[1]	54,651,000	52,987,000	40,861,000
Gain on sale of property		275,000	0	0
Gains on sales of OREO		0	51,000	0
Corporate advisory fee income		1,704,000	3,483,000	265,000
Other	[2]	5,562,000	12,025,000	17,479,000
Total noninterest other income		66,417,000	72,243,000	61,760,000
Banking Segment [Member]
Service charges on deposits
Overdraft fees		488,000	415,000	405,000
Interchange income		1,451,000	1,451,000	1,208,000
Other		2,286,000	1,831,000	1,542,000
Gain on sale of property		275,000
Gains on sales of OREO			51,000
Corporate advisory fee income		1,704,000	3,483,000	265,000
Other	[2]	3,715,000	10,111,000	15,684,000
Total noninterest other income		9,919,000	17,342,000	19,104,000
Wealth Management Division [Member]
Service charges on deposits
Wealth management fees	[1]	54,651,000	52,987,000	40,861,000
Other	[2]	1,847,000	1,914,000	1,795,000
Total noninterest other income		$ 56,498,000	$ 54,901,000	$ 42,656,000
[1] Includes investment brokerage fees. All of the other category is outside the scope of ASC 606.

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interchange income	$ 1,451,000	$ 1,451,000	$ 1,208,000
Gain on sale of property	275,000	0	0
Gains on sales of OREO	0	51,000	0
Cardholder Rewards [Member]
Interchange income	$ 102,000	$ 127,000	$ 115,000

OTHER OPERATING EXPENSES (Sched

OTHER OPERATING EXPENSES (Schedule of Components of Other Operating Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other operating expenses
Professional and legal fees	$ 5,062	$ 5,343	$ 4,099
Telephone	1,460	1,323	1,432
Advertising	1,882	1,288	1,631
Amortization of intangible assets	1,569	1,598	1,287
Branch restructure	201	228	488
Write-off of subordinated debt costs		648
Other operating expenses	12,819	12,396	10,945
Total other operating expenses	$ 22,993	$ 22,824	$ 19,882

INCOME TAXES (Schedule of Incom

INCOME TAXES (Schedule of Income Tax Expense Included in Consolidated Financial Statements) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Federal:
Current expense/(benefit)									$ 27,228	$ 7,400	$ (4,741)
Deferred (benefit)/expense									(7,817)	7,971	10,161
State:
Current expense									7,511	4,188	2,327
Deferred expense/(benefit)									1,176	1,481	(1,936)
Total income tax expense	$ 8,931	$ 7,623	$ 7,193	$ 4,351	$ 5,867	$ 5,036	$ 5,521	$ 4,616	$ 28,098	$ 21,040	$ 5,811

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)		12 Months Ended
	Jul. 01, 2018	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018
Income tax rate		21%	21%	21%	21%
Unrecognized tax benefits		$ 0
Federal income tax benefit				$ 3,000,000
Operating loss for tax purposes					$ 23,000,000
Federal tax rate		21%	21%	21%	21%
Effective income tax rate surtax	2.50%
Effective income tax rate surtax in 2019	2.50%
Minimum net income for surtax applicability	$ 1,000,000
State [Member]
Operating loss for tax purposes		$ 14,500,000	$ 16,800,000

INCOME TAXES (Schedule of Total

INCOME TAXES (Schedule of Total Income Tax Expense Differed from Amounts Computed by Applying U.S. Federal Income Tax Rate to Income Before Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
"Computed expected tax expense"									$ 21,513	$ 16,309	$ 6,721
(Decrease)/increase in taxes resulting from:
Tax-exempt income									(236)	(146)	(287)
State income taxes, net of Federal benefit									7,109	4,789	1,813
Bank owned life insurance income									(261)	(356)	(267)
Life insurance expense									21	199	225
Interest disallowance									34	14	66
Meals and entertainment expense									39	39	40
Stock-based compensation									(130)	9	569
Impact of CARES Act											(3,009)
Other									9	183	(60)
Total income tax expense	$ 8,931	$ 7,623	$ 7,193	$ 4,351	$ 5,867	$ 5,036	$ 5,521	$ 4,616	$ 28,098	$ 21,040	$ 5,811

INCOME TAXES (Schedule of Tax E

INCOME TAXES (Schedule of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Allowance for credit losses	$ 14,924	$ 16,408
Tax net operating loss carryforward	648	1,180
Organization costs	7	8
Cash flow hedge		978
Unrealized loss on securities available for sale	25,424	3,061
Unrealized loss on equity security	544	84
Stock option expense	3,084	2,541
Nonaccrual interest	202	97
Accrued compensation	5,277	5,631
Accrued expenses	803	472
Lease liabilities	3,598	2,689
Finance lease	1,072	732
Other	727	183
Total gross deferred tax assets	56,310	34,064
Deferred tax liabilities:
Lease financing	58,382	64,071
Cash flow hedge	2,528
Deferred loan origination costs and fees	1,827	1,757
Deferred income	4,608	4,543
Amortization of intangible assets	854	369
Lease right-of-use asset	3,379	2,600
Other	164	46
Total gross deferred tax liabilities	71,742	73,386
Net deferred tax liability	$ (15,432)	$ (39,322)

BENEFIT PLANS - Additional Info

BENEFIT PLANS - Additional Information (Details) - 401(K) Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Company contribution percentage of compensation for each employee		2%	0%
Contributions to the plan	$ 3.7	$ 2.9	$ 1.7
Defined Contribution Plan partially match Employee Contribution Percent	3%

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant	1,283,644
Closing stock price of common stock	$ 37.22
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option term	10 years
Unrecognized compensation cost	$ 0
Total compensation cost	$ 0	$ 0	$ 0
Employee Stock Option [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option term	10 years
Stock option vesting term	5 years
Restricted stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted	235,534
Total compensation cost	$ 7,800,000	$ 7,100,000	$ 6,900,000
Restricted stock [Member] | Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option vesting term	3 years
Restricted stock [Member] | Tranche Two [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option vesting term	5 years
Performance Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option vesting term	3 years
Unrecognized compensation cost	$ 14,800,000
Shares granted	71,482
Weighted average period over which unrecognized compensation is expected to be recognized (in years)	1 year 3 months 21 days

STOCK-BASED COMPENSATION (Sched

STOCK-BASED COMPENSATION (Schedule of Changes in Options Outstanding) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Number of Options
Balance | shares	31,340
Exercised | shares	(23,640)
Forfeited | shares	(900)
Balance | shares	6,800
Vested and expected to vest | shares	6,800
Exercisable | shares	6,800
Weighted Average Exercise Price
Balance | $ / shares	$ 14.59
Exercised | $ / shares	14.09
Forfeited | $ / shares	13.11
Balance | $ / shares	16.53
Vested and expected to vest | $ / shares	16.53
Exercisable | $ / shares	$ 16.53
Weighted Average Remaining Contractual Term
Balance	6 months 18 days
Vested and expected to vest	6 months 18 days
Exercisable	6 months 18 days
Aggregate Intrinsic Value
Balance | $	$ 141
Vested and expected to vest | $	141
Exercisable | $	$ 141

STOCK-BASED COMPENSATION (Sch_2

STOCK-BASED COMPENSATION (Schedule of Changes in Restricted Common Shares) (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Performance Shares [Member]
Number of Shares
Balance at Beginning | shares	225,435
Granted | shares	71,482
Vested | shares	(58,077)
Forfeited | shares	(5,284)
Balance at end | shares	233,556
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 20.29
Granted | $ / shares	35.93
Vested | $ / shares	25.77
Forfeited | $ / shares	17.92
Balance at end | $ / shares	$ 23.77
Restricted stock [Member]
Number of Shares
Balance at Beginning | shares	701,145
Granted | shares	235,534
Vested | shares	(289,546)
Forfeited | shares	(25,963)
Balance at end | shares	621,170
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 21.93
Granted | $ / shares	36.86
Vested | $ / shares	21.94
Forfeited | $ / shares	24.05
Balance at end | $ / shares	$ 27.50

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Commitments to Extend Credit [Member]
Commitment And Contingencies [Line Items]
Commitments to extend credit	$ 996.7	$ 894.8
Standby Letters of Credit [Member]
Commitment And Contingencies [Line Items]
Commitments to extend credit	20.2	$ 18.8
SBIC [Member]
Commitment And Contingencies [Line Items]
Unfunded commitment for investment	$ 11.3

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Lessee Lease Description [Line Items]
Operating lease right-of-use assets	$ 12,873,000	$ 9,775,000
Operating lease liabilities	$ 13,704,000	$ 10,111,000
Weighted average discount rate	2.63%	2.78%
Weighted average lease term	7 years 5 months 23 days	6 years 1 month 2 days
Operating lease costs	$ 3,400,000	$ 2,800,000
Variable lease costs	$ 305,000	$ 313,000
Minimum [Member]
Lessee Lease Description [Line Items]
Remaining lease term	3 months	4 months
Maximum [Member]
Lessee Lease Description [Line Items]
Remaining lease term	14 years	15 years

LEASES (Schedule of Operating L

LEASES (Schedule of Operating Lease Liabilities by Contractual Maturity) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023	$ 3,007
2024	2,342
2025	2,092
2026	1,532
2027	1,169
Thereafter	5,082
Total lease payments	15,224
Less: imputed interest	1,520
Total present value of lease payments	$ 13,704	$ 10,111

LEASES (Summary of Supplemental

LEASES (Summary of Supplemental Cash Flow Information Related to Direct Finance and Operating Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Right-of-use asset obtained in exchange for lease obligation	$ 5,909	$ 3,098
Operating cash flows from operating leases	2,656	2,506
Operating cash flows from direct finance leases	250	300
Financing cash flows from direct finance leases	$ 748	$ 748

REGULATORY CAPITAL (Schedule of

REGULATORY CAPITAL (Schedule of Regulatory Capital Amounts and Ratios) (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
The Bank [Member]
Total Capital
Total Capital (to risk-weighted assets)	$ 741,719	$ 672,614
Total Capital (to risk-weighted assets) ratio	0.1467	0.1405
Minimum Capital required to be well-capitalized	$ 505,760	$ 478,628
Minimum Capital required to be well-capitalized, ratio	0.1000	0.1000
Minimum amount of capital for adequacy purposes	$ 404,608	$ 382,902
Minimum amount of capital for adequacy purposes, ratio	0.0800	0.0800
Tier I Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 680,137	$ 612,762
Tier 1 Capital (to risk-weighted assets) ratio	0.1345	0.1280
Minimum Tier 1 Capital required to be well-capitalized	$ 404,608	$ 382,902
Minimum Tier 1 Capital required to be well-capitalized, ratio	0.0800	0.0800
Minimum amount of Tier 1 Capital for adequacy purposes	$ 303,456	$ 287,177
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	0.0600	0.0600
Common equity tier I
Common equity tier 1 (to risk-weighted assets)	$ 680,119	$ 612,738
Common equity tier I (to risk-weighted assets) ratio	0.1345	0.1280
Minimum Common equity tier I required to be well-capitalized	$ 328,744	$ 311,108
Minimum common equity tier I required to be well-capitalized, ratio	6.50%	6.50%
Minimum amount of common equity tier I for adequacy purposes	$ 227,592	$ 215,382
Minimum amount of common equity tier I for adequacy purposes, ratio	4.50%	4.50%
Tier I Leverage Capital (to average assets)
Tier 1 Capital(to average assets)	$ 680,137	$ 612,762
Tier 1 Capital (to average assets) ratio	0.1085	0.0999
Minimum Tier 1 Capital required to be well-capitalized	$ 313,328	$ 306,538
Minimum Tier 1 Capital required to be well-capitalized, ratio	0.0500	0.0500
Minimum amount of Tier 1 Capital for adequacy purposes	$ 250,662	$ 245,231
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	0.0400	0.0400
The Bank [Member] | Conservation Buffer [Member]
Total Capital
Minimum amount of capital for adequacy purposes	$ 531,048	$ 502,559
Minimum amount of capital for adequacy purposes, ratio	0.1050	0.1050
Tier I Capital (to risk-weighted assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 429,896	$ 406,834
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	0.0850	0.0850
Common equity tier I
Minimum amount of common equity tier I for adequacy purposes	$ 354,032	$ 335,039
Minimum amount of common equity tier I for adequacy purposes, ratio	7%	7%
Tier I Leverage Capital (to average assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 250,662	$ 245,231
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	0.0400	0.0400
Parent Company [Member]
Total Capital
Total Capital (to risk-weighted assets)	$ 745,197	$ 700,790
Total Capital (to risk-weighted assets) ratio	0.1473	0.1464
Minimum amount of capital for adequacy purposes	$ 404,830	$ 382,944
Minimum amount of capital for adequacy purposes, ratio	0.0800	0.0800
Tier I Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 557,627	$ 508,231
Tier 1 Capital (to risk-weighted assets) ratio	0.1102	0.1062
Minimum amount of Tier 1 Capital for adequacy purposes	$ 303,623	$ 287,208
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	0.0600	0.0600
Common equity tier I
Common equity tier 1 (to risk-weighted assets)	$ 557,609	$ 508,207
Common equity tier I (to risk-weighted assets) ratio	0.1102	0.1062
Minimum amount of common equity tier I for adequacy purposes	$ 227,717	$ 215,406
Minimum amount of common equity tier I for adequacy purposes, ratio	4.50%	4.50%
Tier I Leverage Capital (to average assets)
Tier 1 Capital(to average assets)	$ 557,627	$ 508,231
Tier 1 Capital (to average assets) ratio	0.0890	0.0829
Minimum amount of Tier 1 Capital for adequacy purposes	$ 250,746	$ 245,242
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	0.0400	0.0400
Parent Company [Member] | Conservation Buffer [Member]
Total Capital
Minimum amount of capital for adequacy purposes	$ 531,340	$ 502,614
Minimum amount of capital for adequacy purposes, ratio	0.1050	0.1050
Tier I Capital (to risk-weighted assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 430,132	$ 406,878
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	0.0850	0.0850
Common equity tier I
Minimum amount of common equity tier I for adequacy purposes	$ 354,227	$ 335,076
Minimum amount of common equity tier I for adequacy purposes, ratio	7%	7%
Tier I Leverage Capital (to average assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 250,746	$ 245,242
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	0.0400	0.0400

REGULATORY CAPITAL - (Schedule

REGULATORY CAPITAL - (Schedule of Regulatory Capital Amounts and Ratios) (Parenthetical) (Details)	Dec. 31, 2022
Minimum [Member] | Conservation Buffer [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Minimum amount of capital for adequacy purposes, ratio	0.025

DERIVATIVES - Additional Inform

DERIVATIVES - Additional Information (Details)	3 Months Ended								12 Months Ended
	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($) Contract	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Derivative [Line Items]
Net interest income (expense)	$ 48,040,000	$ 45,525,000	$ 42,893,000	$ 39,622,000	$ 37,212,000	$ 35,211,000	$ 33,845,000	$ 31,793,000	$ 176,080,000	$ 138,061,000	$ 127,602,000
Pre-tax loss on the termination of the interest rate swaps										842,000
Swap valuation allowance									673,000	2,243,000
Accrued interest receivable	25,157,000				21,589,000				25,157,000	21,589,000
Unrealized gain									6,000,000
Not Designated as Hedging Instrument [Member] | Commercial Real Estate Loan [Member]
Derivative [Line Items]
Swap valuation provision placed on non-accrual status										2,100
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	290,000,000				230,000,000				290,000,000	230,000,000
Net interest income (expense)									851,000,000	4,400,000
Unrealized after-tax gain of accumulated other comprehensive income (loss)	$ 167,000,000
Unrealized gain									$ 3,290,000	(3,479,000)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Forward Contracts [Member]
Derivative [Line Items]
Notional amount				$ 100,000,000
Number of forward contract | Contract				4
Derivative, maturity year				2023
Derivative, maturity term				5 years
Weighted-average fixed pay rate	2.25%								2.25%
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Derivative [Line Items]
Notional amount					230,000,000					230,000,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member]
Derivative [Line Items]
Notional amount	$ 290,000,000								$ 290,000,000
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	612,211,000				702,210,000				612,211,000	702,210,000
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Derivative [Line Items]
Accrued interest payable					$ 4,800					$ 4,800
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member]
Derivative [Line Items]
Accrued interest receivable	$ 1,100								$ 1,100

DERIVATIVES - (Schedule of Info

DERIVATIVES - (Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges) (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) Contract	Dec. 31, 2021 USD ($) Contract
Derivative [Line Items]
Unrealized gain/(loss), net	$ 6,000,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	290,000,000	$ 230,000,000
Fair Value	$ 3,290,000	$ (3,479,000)
Weighted average pay rate	1.71%	1.99%
Weighted average receive rate	2.78%	0.20%
Weighted average maturity	2 years 3 days	1 year 14 days
Unrealized gain/(loss), net	$ 3,290,000	$ (3,479,000)
Number of contracts | Contract	12	13
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 612,211,000	$ 702,210,000
Fair Value	$ (37,173,000)	$ 32,326,000
Weighted average pay rate	3.99%	4%
Weighted average receive rate	6.14%	1.83%
Weighted average maturity	4 years 8 months 4 days	5 years 6 months
Number of contracts | Contract	78	86

DERIVATIVES - (Schedule of Net

DERIVATIVES - (Schedule of Net Gains/(Losses) Recorded in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Gain/(loss) recognized in other comprehensive income (effective portion)	$ 9,262	$ 4,412	$ (4,412)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Gain/(loss) recognized in other comprehensive income (effective portion)	9,262	4,412
Gain/(loss) recognized in other noninterest income	$ 116	$ (842)

DERIVATIVES - (Schedule of Cash

DERIVATIVES - (Schedule of Cash Flow Hedges Included in Financial Statements) (Details) - Designated as Hedging Instrument [Member] - Interest Rate Swap [Member] - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Notional Amount	$ 290,000,000	$ 230,000,000
Fair Value	3,290,000	(3,479,000)
Other Assets [Member]
Derivative [Line Items]
Notional Amount	290,000,000
Fair Value	$ 3,290,000
Other Liabilities [Member]
Derivative [Line Items]
Notional Amount		230,000,000
Fair Value		$ (3,479,000)

SHAREHOLDERS EQUITY - Additiona

SHAREHOLDERS EQUITY - Additional Information (Details) - USD ($)			12 Months Ended
	Jan. 28, 2022	Jan. 28, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Stock repurchase program, number of shares authorized to be repurchased, percentage	5%	5%
Stock repurchase program, number of shares authorized to be repurchased	920,000	948,735
Shares purchased	876,986		930,977	894,744
Shares repurchased, average price per share	$ 35.01		$ 35.15	$ 31.99
Shares repurchased during period, value	$ 30,700,000		$ 32,722,000	$ 28,627,000	$ 6,487,000
Stock repurchase program average price per share		$ 32.30
Stock repurchase total cost		$ 30,600,000
Quarterly cash payment that may be made under Dividend Reinvestment Program			200,000
Unrealized loss on available-for-sale securities			$ 61,800,000

BUSINESS SEGMENTS - Additional

BUSINESS SEGMENTS - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 Segment	Dec. 31, 2020 USD ($)
Number of Operating Segments | Segment	2
Banking Segment [Member]
Federal income tax benefit | $		$ 3.3

BUSINESS SEGMENTS - Schedule of

BUSINESS SEGMENTS - Schedule of Income and Total Assets for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Net interest income	$ 48,040	$ 45,525	$ 42,893	$ 39,622	$ 37,212	$ 35,211	$ 33,845	$ 31,793	$ 176,080		$ 138,061		$ 127,602
Noninterest income									66,417		72,243		61,760
Total income									242,497		210,304		189,362
Provision for credit losses/ loan losses	1,930	599	1,449	2,375	3,750	1,600	900	225	6,353	[1]	6,475	[1]	32,400	[1]
Compensation and benefits									89,476		81,864		77,516
Premises and equipment expense									18,719		17,165		16,377
FDIC insurance expense									1,939		2,071		1,975
Other noninterest expense									23,666		25,067		29,091
Total noninterest expense									140,153		132,642		157,359
Income before income tax expense	29,510	27,749	27,293	17,792	20,722	19,207	19,939	17,794	102,344		77,662		32,003
Income tax expense	8,931	7,623	7,193	4,351	5,867	5,036	5,521	4,616	28,098		21,040		5,811
Net income	20,579	$ 20,126	$ 20,100	$ 13,441	14,855	$ 14,171	$ 14,418	$ 13,178	74,246		56,622		26,192
Total assets at period end	6,353,593				6,077,993				6,353,593		6,077,993		5,890,442
Banking Segment [Member]
Net interest income									167,893		132,195		121,583
Noninterest income									9,919		17,342		19,104
Total income									177,812		149,537		140,687
Provision for credit losses/ loan losses									6,353		6,475		32,400
Compensation and benefits									61,975		56,970		54,044
Premises and equipment expense									15,774		14,805		14,056
FDIC insurance expense									1,939		2,071		1,975
Other noninterest expense									13,590		14,407		19,694
Total noninterest expense									99,631		94,728		122,169
Income before income tax expense									78,181		54,809		18,518
Income tax expense									21,453		14,847		2,170
Net income									56,728		39,962		16,348
Total assets at period end	6,256,664				5,973,343				6,256,664		5,973,343		5,798,770
Wealth Management Division [Member]
Net interest income									8,187		5,866		6,019
Noninterest income									56,498		54,901		42,656
Total income									64,685		60,767		48,675
Provision for credit losses/ loan losses									0		0		0
Compensation and benefits									27,501		24,894		23,472
Premises and equipment expense									2,945		2,360		2,321
FDIC insurance expense									0		0		0
Other noninterest expense									10,076		10,660		9,397
Total noninterest expense									40,522		37,914		35,190
Income before income tax expense									24,163		22,853		13,485
Income tax expense									6,645		6,193		3,641
Net income									17,518		16,660		9,844
Total assets at period end	$ 96,929				$ 104,650				$ 96,929		$ 104,650		$ 91,672
[1] (1) Commencing on January 1, 2022, the allowance calculation is based on the current expected credit loss ("CECL") methodology. Prior to January 1, 2022, the calculation was based on the incurred loss methodology.

SUBORDINATED DEBT - Additional

SUBORDINATED DEBT - Additional Information (Details) - Subordinated Debt [Member] - USD ($)	1 Months Ended
	Dec. 31, 2020	Dec. 31, 2017
Debt Instrument [Line Items]
Principal amount	$ 100,000,000	$ 35,000,000
Non-callable term	5 years	5 years
Notes maturity date	Dec. 22, 2030	Dec. 15, 2027
Fixed interest rate	3.50%	4.75%
LIBOR spread	3.26%	2.54%
Debt issuance costs	$ 1,900,000	$ 875,000

ACQUISITIONS - Additional Infor

ACQUISITIONS - Additional Information (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) Acquisition	Dec. 31, 2021 USD ($) Acquisition	Dec. 31, 2020 USD ($) Acquisition	Dec. 31, 2019 USD ($)
Business Acquisition [Line Items]
Number of businesses acquired | Acquisition	0	1	2
Goodwill and identifiable intangible assets		$ 3,100,000	$ 2,900,000
Liabilities Assumed	$ 0	0	0
Goodwill	36,212,000	36,212,000	33,103,000	$ 30,208,000
Goodwill impairment loss	0
Amortization of intangible assets	1,569,000	1,598,000	1,287,000
Wealth Management Division [Member]
Business Acquisition [Line Items]
Goodwill	35,600,000
Banking Segment [Member]
Business Acquisition [Line Items]
Goodwill	$ 563,000
2020 Acquisitions [Member]
Business Acquisition [Line Items]
Company's acquisition equity			$ 0
Princeton Portfolio Strategies Group [Member]
Business Acquisition [Line Items]
Fair value of total consideration transferred		$ 333,000

ACQUISITIONS (Schedule of Rollf

ACQUISITIONS (Schedule of Rollforward of Goodwill and Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill
Beginning balance	$ 36,212	$ 33,103	$ 30,208
Acquisitions		3,109	2,895
Ending balance	36,212	36,212	33,103
Identifiable Intangible Assets
Beginning balance	12,690	10,788	10,380
Acquisitions		3,500	1,695
Amortization of intangible assets	1,569	1,598	1,287
Ending balance	$ 11,121	$ 12,690	$ 10,788

ACQUISITIONS - (Schedule of Est

ACQUISITIONS - (Schedule of Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Business Combinations [Abstract]
2023	$ 1,320
2024	1,087
2025	1,087
2026	959
2027	$ 944

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Schedule of Accumulated Other Comprehensive Income/(Loss) Balances, Net of Tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 546,388	$ 527,122	$ 503,652
Other Comprehensive Income/(Loss)	(61,837)	(10,982)	103
Balance	532,980	546,388	527,122
Net Unrealized Holding Gain/(Loss) on Securities Available for Sale, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(9,873)	5,521	1,006
Other Comprehensive Income/(Loss) Before Reclassifications	(76,126)	(15,394)	4,515
Amount Reclassified From Accumulated Other Comprehensive Income/(Loss)	5,027
Other Comprehensive Income/(Loss)	(71,099)	(15,394)	4,515
Balance	(80,972)	(9,873)	5,521
Gain/(Loss) on Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(2,501)	(6,913)	(2,501)
Other Comprehensive Income/(Loss) Before Reclassifications	9,348	3,806	(4,346)
Amount Reclassified From Accumulated Other Comprehensive Income/(Loss)	(86)	606	(66)
Other Comprehensive Income/(Loss)	9,262	4,412	(4,412)
Balance	6,761	(2,501)	(6,913)
Accumulated Other Comprehensive Gain/(Loss), Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(12,374)	(1,392)	(1,495)
Other Comprehensive Income/(Loss) Before Reclassifications	(66,778)	(11,588)	169
Amount Reclassified From Accumulated Other Comprehensive Income/(Loss)	4,941	606	(66)
Other Comprehensive Income/(Loss)	(61,837)	(10,982)	103
Balance	$ (74,211)	$ (12,374)	$ (1,392)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Schedule of Reclassifications Out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ (16,162)	$ (9,488)	$ (5,627)	$ (4,518)	$ (4,863)	$ (4,856)	$ (5,841)	$ (6,446)	$ (35,795)	$ (22,006)	$ (38,148)
Income tax expense	(8,931)	(7,623)	(7,193)	(4,351)	(5,867)	(5,036)	(5,521)	(4,616)	(28,098)	(21,040)	(5,811)
Net income	$ 20,579	$ 20,126	$ 20,100	$ 13,441	$ 14,855	$ 14,171	$ 14,418	$ 13,178	74,246	56,622	26,192
Reclassification out of Accumulated Other Comprehensive Income | Unrealized gain/(losses) on securities available for sale [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities losses, net									6,609
Income tax expense									(1,582)
Net income									5,027
Reclassification out of Accumulated Other Comprehensive Income | Gain/(Loss) on Cash Flow Hedge [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense									(116)		(89)
Other income										842
Income tax expense									30	(236)	23
Net income									$ (86)	$ 606	$ (66)

CONDENSED FINANCIAL STATEMENT_3

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF CONDITION) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jan. 01, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Cash	$ 5,937		$ 5,929
Interest-earning deposits	184,138		140,875
Total cash and cash equivalents	190,075		146,804
Other assets	63,587		62,451
Total assets	6,353,593		6,077,993	$ 5,890,442
LIABILITIES
Subordinated debt	132,987		132,701
Other liabilities	69,100		77,502
Total liabilities	5,820,613		5,531,605
SHAREHOLDERS’ EQUITY
Common stock	17,513		17,220
Surplus	338,706		332,358
Treasury stock	(97,826)		(65,104)
Retained earnings	348,798		274,288
Accumulated other comprehensive loss	(74,211)		(12,374)
Total shareholders’ equity	532,980	$ 3,909	546,388	$ 527,122	$ 503,652
Total liabilities and shareholders’ equity	6,353,593		6,077,993
Parent Company [Member]
ASSETS
Cash	7,967		27,530
Interest-earning deposits	523		522
Total cash and cash equivalents	8,490		28,052
Investment in subsidiary	655,490		650,918
Other assets	2,356		680
Total assets	666,336		679,650
LIABILITIES
Subordinated debt	132,987		132,701
Other liabilities	369		561
Total liabilities	133,356		133,262
SHAREHOLDERS’ EQUITY
Common stock	17,513		17,220
Surplus	338,706		332,358
Treasury stock	(97,826)		(65,104)
Retained earnings	348,798		274,288
Accumulated other comprehensive loss	(74,211)		(12,374)
Total shareholders’ equity	532,980		546,388
Total liabilities and shareholders’ equity	$ 666,336		$ 679,650

CONDENSED FINANCIAL STATEMENT_4

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF INCOME) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income
Other income									$ 66,417	$ 72,243	$ 61,760
Expenses
Interest expense	$ 16,162	$ 9,488	$ 5,627	$ 4,518	$ 4,863	$ 4,856	$ 5,841	$ 6,446	35,795	22,006	38,148
Other expenses									22,993	22,824	19,882
Total expenses	33,412	33,560	32,659	34,169	31,704	32,185	30,684	31,594
Income before income tax expense	29,510	27,749	27,293	17,792	20,722	19,207	19,939	17,794	102,344	77,662	32,003
Income tax benefit	8,931	7,623	7,193	4,351	5,867	5,036	5,521	4,616	28,098	21,040	5,811
Net income	$ 20,579	$ 20,126	$ 20,100	$ 13,441	$ 14,855	$ 14,171	$ 14,418	$ 13,178	74,246	56,622	26,192
Total comprehensive income									12,409	45,640	26,295
Parent Company [Member]
Income
Dividend from Bank									23,000		13,000
Other income									2		2
Total income									23,002		13,002
Expenses
Interest expense									5,453	7,013	4,992
Other expenses									1,130	1,602	948
Total expenses									6,583	8,615	5,940
Income before income tax expense									16,419	(8,615)	7,062
Income tax benefit									(1,676)	(2,340)	(1,247)
Net (loss)/income before equity in undistributed earnings of Bank									18,095	(6,275)	8,309
Equity in undistributed earnings of Bank/(dividends in excess of earnings)									56,151	62,897	17,883
Net income									74,246	56,622	26,192
Other comprehensive (loss)/income									(61,837)	(10,982)	103
Total comprehensive income									$ 12,409	$ 45,640	$ 26,295

CONDENSED FINANCIAL STATEMENT_5

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF CASH FLOWS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Net income	$ 74,246	$ 56,622	$ 26,192
Amortization of subordinated debt costs	286	1,003	224
(Increase)/decrease in other assets	5,261	(4,866)	(8,096)
(Decrease)/increase in other liabilities	2,116	226	(10,720)
Net cash provided by operating activities	118,901	75,463	36,720
Investing activities:
Net cash used in investing activities	(356,067)	(753,798)	(213,995)
Financing activities:
Cash dividends paid on common stock	(3,645)	(3,775)	(3,780)
Exercise of stock options, net stock swaps	292	187	230
Proceeds from issuance of subordinated debt			98,153
Repayments of subordinated debt		(50,000)
Purchase of treasury shares	(32,722)	(28,627)	(6,487)
Net cash provided by financing activities	280,437	171,817	622,412
Net increase/(decrease) in cash and cash equivalents	43,271	(506,518)	445,137
Cash and cash equivalents at beginning of period	146,804	653,322	208,185
Cash and cash equivalents at end of period	190,075	146,804	653,322
Parent Company [Member]
Operating activities:
Net income	74,246	56,622	26,192
Undistributed earnings of Bank	(56,151)	(62,897)	(17,883)
Amortization of subordinated debt costs	286	1,002	234
(Increase)/decrease in other assets	(1,676)	(674)	4,914
(Decrease)/increase in other liabilities	(192)	(1,979)	2,176
Net cash provided by operating activities	16,513	(7,926)	15,633
Financing activities:
Cash dividends paid on common stock	(3,645)	(3,775)	(3,780)
Exercise of stock options, net stock swaps	292	187	230
Proceeds from issuance of subordinated debt			98,143
Repayments of subordinated debt		(50,000)
Purchase of treasury shares	(32,722)	(28,627)	(6,487)
Net cash provided by financing activities	(36,075)	(82,215)	88,106
Net increase/(decrease) in cash and cash equivalents	(19,562)	(90,141)	103,739
Cash and cash equivalents at beginning of period	28,052	118,193	14,454
Cash and cash equivalents at end of period	$ 8,490	$ 28,052	$ 118,193

SUPPLEMENTAL DATA (unaudited)_2

SUPPLEMENTAL DATA (unaudited) (Schedule of Unaudited Quarterly Financial Data) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 64,202	$ 55,013	$ 48,520	$ 44,140	$ 42,075	$ 40,067	$ 39,686	$ 38,239	$ 211,875		$ 160,067		$ 165,750
Interest expense	16,162	9,488	5,627	4,518	4,863	4,856	5,841	6,446	35,795		22,006		38,148
Net interest income before provision for credit losses	48,040	45,525	42,893	39,622	37,212	35,211	33,845	31,793	176,080		138,061		127,602
Provision for loan losses	1,930	599	1,449	2,375	3,750	1,600	900	225	6,353	[1]	6,475	[1]	32,400	[1]
Wealth management fee income	12,983	12,943	13,891	14,834	13,962	13,860	13,034	12,131	54,651		52,987		40,861
Fair value adjustment for CRA equity security	28	(571)	(475)	(682)	(139)	(70)	42	(265)	(1,700)		(432)		281
Loss on securities sale, net				(6,609)					(6,609)
Other income	3,801	4,011	5,092	7,171	5,141	3,991	4,602	5,954
Operating expenses	33,412	33,560	32,659	34,169	31,704	32,185	30,684	31,594
Income before income tax expense	29,510	27,749	27,293	17,792	20,722	19,207	19,939	17,794	102,344		77,662		32,003
Income tax expense	8,931	7,623	7,193	4,351	5,867	5,036	5,521	4,616	28,098		21,040		5,811
Net income	$ 20,579	$ 20,126	$ 20,100	$ 13,441	$ 14,855	$ 14,171	$ 14,418	$ 13,178	$ 74,246		$ 56,622		$ 26,192
EARNINGS PER SHARE
Earnings per share-basic	$ 1.15	$ 1.11	$ 1.10	$ 0.73	$ 0.80	$ 0.76	$ 0.76	$ 0.70	$ 4.09		$ 3.01		$ 1.39
Earnings per share-diluted	$ 1.12	$ 1.09	$ 1.08	$ 0.71	$ 0.78	$ 0.74	$ 0.74	$ 0.67	$ 4		$ 2.93		$ 1.37
[1] (1) Commencing on January 1, 2022, the allowance calculation is based on the current expected credit loss ("CECL") methodology. Prior to January 1, 2022, the calculation was based on the incurred loss methodology.