Peapack-Gladstone Financial (PGC) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Entity Registrant Name	PEAPACK-GLADSTONE FINANCIAL CORPORATION
Entity Central Index Key	0001050743
Document Type	10-Q
Document Period End Date	Sep. 30, 2024
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		17,585,306
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Trading Symbol	PGC
Entity Current Reporting Status	Yes
Entity Shell Company	false
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	07921-0700
City Area Code	908
Local Phone Number	234-0700
Document Quarterly Report	true
Document Transition Report	false
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

CONSOLIDATED STATEMENTS OF COND

CONSOLIDATED STATEMENTS OF CONDITION - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash and due from banks		$ 8,129	$ 5,887
Interest-earning deposits		484,529	181,784
Total cash and cash equivalents		492,658	187,671
Securities available for sale		682,713	550,617
Securities held to maturity (fair value $92,438 at September 30, 2024 and $94,415 at December 31, 2023)		103,158	107,755
CRA equity security, at fair value		13,445	13,166
FHLB and FRB stock, at cost	[1]	12,459	31,044
Loans held for sale, at fair value		561	100
Loans held for sale, at lower of cost or fair value		4,189	6,695
Loans		5,315,417	5,429,325
Less: allowance for credit losses		71,283	65,888
Net loans		5,244,134	5,363,437
Premises and equipment		25,716	24,166
Accrued interest receivable		31,973	30,676
Bank owned life insurance		47,837	47,581
Goodwill		36,212	36,212
Other intangible assets		8,986	9,802
Finance lease right-of-use assets		1,020	2,087
Operating lease right-of-use assets		41,650	12,096
Deferred tax assets, net		8,756	505
Other assets		38,325	53,247
TOTAL ASSETS		6,793,792	6,476,857
Deposits:
Noninterest-bearing demand deposits		1,079,877	957,687
Interest-bearing deposits:
Checking	[2]	3,316,217	2,882,193
Savings		103,979	111,573
Money market accounts		902,562	740,559
Certificates of deposit - retail		515,297	443,791
Certificates of deposit - listing service		7,454	7,804
Subtotal deposits		5,925,386	5,143,607
Interest-bearing demand - brokered		10,000	10,000
Certificates of deposit - brokered		0	120,507
Total deposits		5,935,386	5,274,114
Short-term borrowings			403,814
Finance lease liabilities		1,388	3,430
Operating lease liabilities		44,775	12,876
Subordinated debt, net		133,489	133,274
Accrued expenses and other liabilities		71,140	65,668
TOTAL LIABILITIES		6,186,178	5,893,176
SHAREHOLDERS’ EQUITY
Preferred stock (no par value; authorized 500,000 shares; liquidation preference of $1,000 per share)
Common stock (no par value; stated value $0.83 per share; authorized 42,000,000 shares; issued shares, 21,526,987 at September 30, 2024 and 21,388,917 at December 31, 2023; outstanding shares, 17,577,747 at September 30, 2024 and 17,739,677 at December 31, 2023)		17,946	17,831
Surplus		346,811	346,954
Treasury stock at cost (3,949,240 shares at September 30, 2024 and 3,649,240 shares at December 31, 2023)		(117,509)	(110,320)
Retained earnings		415,186	394,094
Accumulated other comprehensive loss, net of income tax		(54,820)	(64,878)
TOTAL SHAREHOLDERS’ EQUITY		607,614	583,681
TOTAL LIABILITIES & SHAREHOLDERS’ EQUITY		$ 6,793,792	$ 6,476,857
[1] FHLB means "Federal Home Loan Bank" and FRB means "Federal Reserve Bank." Interest-bearing checking includes $ 1.4 billion at September 30, 2024 and $ 990.7 million at December 31, 2023 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF CONDITION (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Securities held to maturity fair value	$ 92,438	$ 94,415
Preferred stock, par value	$ 0	$ 0
Preferred stock, shares authorized	500,000	500,000
Preferred stock, liquidation preference per share	$ 1,000	$ 1,000
Common stock, stated value	$ 0.83	$ 0.83
Common stock, shares authorized	42,000,000	42,000,000
Common stock, shares issued	21,526,987	21,388,917
Common stock, shares outstanding	17,577,747	17,739,677
Treasury stock, shares	3,949,240	3,649,240

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
INTEREST INCOME
Interest and fees on loans	$ 73,111	$ 71,846	$ 217,287	$ 204,808
Interest on investments:
Taxable	6,107	5,170	16,411	14,541
Tax-exempt		5		22
Interest on loans held for sale	3	5	15	9
Interest on interest-earning deposits	3,982	1,463	7,922	4,452
Total interest income	83,203	78,489	241,635	223,832
INTEREST EXPENSE
Interest on savings and interest-bearing deposit accounts	38,042	28,851	106,453	76,351
Interest on certificates of deposit	5,540	3,459	15,762	7,650
Interest on borrowed funds		6,569	3,848	13,249
Interest on finance lease liability	15	46	75	149
Interest on subordinated debt	1,685	1,730	5,055	4,966
Subtotal - interest expense	45,282	40,655	131,193	102,365
Interest on interest-bearing demand - brokered	134	136	394	469
Interest on certificates of deposits - brokered	106	1,183	2,950	1,584
Total interest expense	45,522	41,974	134,537	104,418
NET INTEREST INCOME BEFORE PROVISION FOR CREDIT LOSSES	37,681	36,515	107,098	119,414
Provision for credit losses	1,224	5,856	5,762	9,065
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	36,457	30,659	101,336	110,349
OTHER INCOME
Wealth management fee income	15,150	13,975	45,976	41,989
Service charges and fees	1,327	1,319	3,994	3,897
Bank owned life insurance	390	310	1,221	912
Gain on loans held for sale at fair value (mortgage banking)	15	37	105	73
Gain on loans held for sale at lower of cost or fair value			23
Gain on sale of SBA loans	365	491	1,214	2,194
Corporate advisory fee income	55	85	976	180
Other income	1,162	3,541	5,406	7,147
Fair value adjustment for CRA equity security	474	(404)	279	(404)
Total other income	18,938	19,354	59,194	55,988
OPERATING EXPENSES
Compensation and employee benefits	31,050	25,264	89,410	76,204
Premises and equipment	5,633	5,214	16,490	14,317
FDIC insurance expense	870	741	2,685	2,181
Other operating expense	7,096	6,194	19,231	17,977
Total operating expenses	44,649	37,413	127,816	110,679
INCOME BEFORE INCOME TAX EXPENSE	10,746	12,600	32,714	55,658
Income tax expense	3,159	3,845	8,966	15,403
NET INCOME	$ 7,587	$ 8,755	$ 23,748	$ 40,255
EARNINGS PER SHARE
Basic	$ 0.43	$ 0.49	$ 1.34	$ 2.25
Diluted	$ 0.43	$ 0.49	$ 1.34	$ 2.23
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic	17,616,046	17,856,961	17,691,309	17,876,316
Diluted	17,700,042	18,010,127	17,746,560	18,091,524

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 7,587	$ 8,755	$ 23,748	$ 40,255
Unrealized gains/(losses) on available for sale securities:
Unrealized holding gains/(losses) arising during the period	23,974	(20,629)	16,637	(18,882)
Before tax	23,974	(20,629)	16,637	(18,882)
Tax effect	(6,400)	5,642	(4,442)	8,820
Net of tax	17,574	(14,987)	12,195	(10,062)
Unrealized gains/(losses) on cash flow hedges:
Unrealized holding gains/(losses) arising during the period	(5,600)	1,861	(2,953)	3,904
Reclassification adjustment for amounts included in net income	0	0	0	(84)
Before tax	(5,600)	1,861	(2,953)	3,820
Tax effect	1,548	(530)	816	(1,200)
Net of tax	(4,052)	1,331	(2,137)	2,620
Total other comprehensive income/(loss)	13,522	(13,656)	10,058	(7,442)
Total comprehensive income/(loss)	$ 21,109	$ (4,901)	$ 33,806	$ 32,813

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Surplus [Member]	Treasury Stock, Common [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]
Balance at Dec. 31, 2022	$ 532,980	$ 17,513	$ 338,706	$ (97,826)	$ 348,798	$ (74,211)
Net income	40,255				40,255
Comprehensive income (loss)	(7,442)					(7,442)
Restricted stock units issued shares		358	(358)
Restricted stock units repurchased on vesting to pay taxes	(3,204)	(89)	(3,115)
Amortization of restricted stock units	8,578		8,578
Cash dividends declared on common stock	(2,666)				(2,666)
Share repurchase	(10,382)			(10,382)
Common stock options exercised	19	1	18
Issuance of shares for Employee Stock Purchase Plan	818	22	796
Issuance of common stock for acquisition		16	(16)
Balance at Sep. 30, 2023	558,956	17,821	344,609	(108,208)	386,387	(81,653)
Balance at Jun. 30, 2023	565,069	17,797	342,137	(105,393)	378,525	(67,997)
Net income	8,755				8,755
Comprehensive income (loss)	(13,656)					(13,656)
Restricted stock units issued shares	(68)	(1)	(67)
Restricted stock units repurchased on vesting to pay taxes	54	1	53
Amortization of restricted stock units	2,269		2,269
Cash dividends declared on common stock	(893)				(893)
Share repurchase	(2,815)			(2,815)
Issuance of shares for Employee Stock Purchase Plan	241	8	233
Issuance of common stock for acquisition		16	(16)
Balance at Sep. 30, 2023	558,956	17,821	344,609	(108,208)	386,387	(81,653)
Balance at Dec. 31, 2023	583,681	17,831	346,954	(110,320)	394,094	(64,878)
Net income	23,748				23,748
Comprehensive income (loss)	10,058					10,058
Restricted stock units issued shares		123	(123)
Restricted stock units repurchased on vesting to pay taxes	(877)	(31)	(846)
Amortization of restricted stock units	4,533		4,533
Modification of restricted stock units distributed in cash	(4,336)		(4,336)
Cash dividends declared on common stock	(2,656)				(2,656)
Share repurchase	(7,189)			(7,189)
Issuance of shares for Employee Stock Purchase Plan	652	23	629
Balance at Sep. 30, 2024	607,614	17,946	346,811	(117,509)	415,186	(54,820)
Balance at Jun. 30, 2024	588,322	17,936	345,164	(114,917)	408,481	(68,342)
Net income	7,587				7,587
Comprehensive income (loss)	13,522					13,522
Amortization of restricted stock units	1,395		1,395
Cash dividends declared on common stock	(882)				(882)
Share repurchase	(2,592)			(2,592)
Issuance of shares for Employee Stock Purchase Plan	262	10	252
Balance at Sep. 30, 2024	$ 607,614	$ 17,946	$ 346,811	$ (117,509)	$ 415,186	$ (54,820)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Shares outstanding			17,739,677
Issuance of shares for Employee Stock Purchase Plan, shares	11,257	8,850	27,016	26,491
Shares outstanding	17,577,747		17,577,747
O2024Q3 Dividends [Member]
Cash dividends declared on common stock, per share	$ 0.05
O2023Q3 Dividends [Member]
Cash dividends declared on common stock, per share		$ 0.05
O2024M9 Dividends [Member]
Cash dividends declared on common stock, per share			$ 0.15
O2023M9 Dividends [Member]
Cash dividends declared on common stock, per share				$ 0.15
Common Stock [Member]
Shares outstanding	17,666,490	17,887,895	17,739,677	17,813,451
Restricted stock units issued, shares		1,495	147,679	429,909
Restricted stock units/awards repurchased on vesting to pay taxes, shares		(515)	(36,625)	(106,452)
Share repurchase, share	(100,000)	(100,000)	(300,000)	(367,014)
Common stock options exercised, shares				1,400
Common stock options exercised, used to exercise, shares				60
Common stock options exercised, net of shares used to exercise, shares				1,340
Issuance of shares for Employee Stock Purchase Plan, shares	11,257	8,850	27,016	26,491
Issuance of common stock for acquisition, shares		19,197		19,197
Shares outstanding	17,577,747	17,816,922	17,577,747	17,816,922

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
OPERATING ACTIVITIES:
Net income		$ 23,748	$ 40,255
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		2,692	2,720
Amortization of premium and accretion of discount on securities, net		226	458
Amortization of restricted stock		4,533	8,578
Amortization of intangible assets		816	1,048
Amortization of subordinated debt costs		215	216
Provision for credit losses		5,762	9,065
Deferred tax benefit		(11,133)	(10,717)
Stock-based compensation and employee stock purchase plan expense		131	140
Fair value adjustment for equity security		(279)	404
Loans originated for sale	[1]	(20,856)	(24,786)
Proceeds from sales of loans held for sale	[1]	24,220	35,963
Gain on loans held for sale	[1]	(1,319)	(2,267)
Gain on loans held for sale at lower of cost or fair value		(23)
Loss on disposal of fixed assets		76	6
Gain on death benefit		(236)
Increase in cash surrender value of life insurance, net		(174)	(362)
(Increase)/decrease in accrued interest receivable		(1,297)	2,268
Decrease in other assets		(26,279)	(1,019)
Increase in accrued expenses and other liabilities		43,822	6,794
NET CASH PROVIDED BY OPERATING ACTIVITIES		44,645	68,764
INVESTING ACTIVITIES:
Principal repayments, maturities and calls of securities available for sale		496,781	476,363
Principal repayments, maturities and calls of securities held to maturity		4,531	3,638
Redemptions of FHLB and FRB stock		59,623	83,385
Purchase of securities held to maturity			(10,347)
Purchase of securities available for sale		(612,400)	(462,000)
Purchase of FHLB and FRB stock		(41,038)	(86,871)
Proceeds from sales of loans held for sale at lower of cost or fair value		23
Net decrease/(increase) in loans, net of participations sold		113,541	(202,777)
Proceeds from sales of other real estate			116
Purchase of premises and equipment		(4,068)	(2,297)
Disposal of premises and equipment		143	(6)
Proceeds from death benefit		154
NET CASH PROVIDED BY/(USED IN) INVESTING ACTIVITIES		17,290	(200,796)
FINANCING ACTIVITIES:
Net increase in deposits		661,272	54,195
Net (decrease)/increase in short-term borrowings		(403,814)	91,046
Dividends paid on common stock		(2,656)	(2,666)
Exercise of stock options, net of stock swaps			19
Restricted stock repurchased on vesting to pay taxes		(877)	(3,273)
Issuance of restricted stock			69
Modification of restricted stock units distributed in cash		(4,336)
Issuance of shares for employee stock purchase plan		652	818
Shares repurchased		(7,189)	(10,382)
NET CASH PROVIDED BY FINANCING ACTIVITIES		243,052	129,826
Net increase/(decrease) in cash and cash equivalents		304,987	(2,206)
Cash and cash equivalents at beginning of period		187,671	190,075
Cash and cash equivalents at end of period		492,658	187,869
Cash paid during the period for:
Interest		124,717	97,583
Income tax, net		13,753	9,668
Right-of-use asset obtained in exchange for operating lease liabilities		$ 32,483	$ 1,926
[1] Includes mortgage loans originated with the intent to sell, which are carried at fair value. In addition, this includes the guaranteed portion of Small Business Administration (“SBA”) loans, which are carried at the lower of cost or fair value.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Insider Trading Arrangements [Line Items]
Rule 10b51 Arrangement Adopted Flag	false
Non Rule 10b51 Arrangement Adopted Flag	false
Rule 10b51 Arrangement Trmntd Flag	false
Non Rule 10b51 Arrangement Trmntd Flag	false

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Certain information and footnote disclosures normally included in the audited consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2023 for Peapack-Gladstone Financial Corporation (the “Corporation” or the “Company”). In the opinion of Management of the Corporation, the accompanying unaudited consolidated interim financial statements contain all adjustments (consisting solely of normal and recurring accruals) necessary to present fairly the financial position as of September 30, 2024, and the results of operations, comprehensive income, changes in shareholders’ equity and cash flow statements for the three and nine months ended September 30, 2024 and 2023. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the full year or for any future period. 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: • Peapack Capital Corporation (“PCC”) • 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, which owns one percent of Peapack Ventures, LLC • Peapack Ventures, LLC, which owns the remaining 21 percent of Peapack-Gladstone Realty, Inc. • Peapack-Gladstone Realty, Inc. • PGB Securities, Inc. While the following notes to the consolidated financial statements include the consolidated results of the Company, the Bank and their subsidiaries, these notes primarily reflect the Bank’s and its subsidiaries’ activities. All significant intercompany balances and transactions have been eliminated from the accompanying consolidated financial statements. Basis of Financial Statement Presentation : The consolidated financial statements have been prepared in accordance with GAAP. In preparing the financial statements, Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the statement of condition and revenues and expenses for the periods presented. Actual results could differ from those estimates. 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) the Peapack Private Wealth Management Division ("Peapack Private"), which includes investment management services to individuals and institutions. Management uses certain methodologies to allocate income and expense to the business segments. The Banking segment includes: commercial (including commercial and industrial (“C&I”) and equipment financing), commercial real estate, multifamily, commercial construction, 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 services. 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 & Investments of Delaware. The majority of wealth management fees are collected on a monthly or quarterly basis and are calculated on either a fixed or tiered fee schedule, based upon the market value of assets under management and/or administration (“AUMs”). Other non AUM-based revenues such as personal or fiduciary tax return preparation fees, executor fees, trust termination fees and/or financial planning and advisory fees are charged as services are rendered. 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 : Under Accounting Standards Update ("ASU") 2016-13, debt securities available-for-sale are measured at fair value and subject to impairment testing. When an available-for-sale debt security 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 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. Both cash and stock 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 loans held for sale at fair value (mortgage 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 $ 157.0 million and $ 162.9 million as of September 30, 2024 and December 31, 2023, respectively. SBA loans held for sale totaled $ 4.5 million and $ 7.2 million at September 30, 2024 and December 31, 2023, respectively. 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/costs, however, for the Company’s loan disclosures, accrued interest and deferred fees/costs were 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 individually evaluated 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 unless the asset is both well secured and in the process of collection. All interest accrued but not received for loans placed on nonaccrual status are reversed against interest income. Payments received on nonaccrual loans are recorded as principal payments. A nonaccrual loan is returned to accrual status only when interest and principal payments are brought current and future payments are reasonably assured, generally when 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 closed-end loans are generally charged off after they become 120 days past due and open-end loans after 180 days. 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 may be returned to accrual status. Nonaccrual mortgage loans are generally charged off to the extent that 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, New York and Pennsylvania. Allowance for Credit Losses : Current expected credit losses ("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. 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. ACL in accordance with CECL methodology With respect to pools of similar loans that are collectively evaluated, an appropriate level of general allowance is determined by portfolio segment using a non-linear 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 and national consumer price and confidence indices. 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. The ACL results in two forms of allocations, specific and general. These two components represent the total ACL deemed adequate to cover current expected credit losses in the loan portfolio. 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 ACL based on the fair value of collateral. The ACL 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 ACL. Several of the steps in the methodology are subjective 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 may change from period to period. Although the ACL 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 aggregates the loan portfolio based on common characteristics. The following segments have been identified: Primary Residential Mortgages . The Bank originates one to four family residential mortgage loans in the Tri-State area (which is comprised of 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. 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. 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. 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, other changes in general economic conditions or changes in rent regulation 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 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. 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. 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 a company, if privately held. Commercial and industrial loans are typically repaid first by the cash flows generated by the borrower’s business operations. 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 will often require 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 through 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, inaccurate estimates of the period of construction, 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. Loan Modifications: On January 1, 2023, the Company adopted ASU 2022-02, which replaced the accounting and recognition of troubled debt restructurings. 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. 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 as 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 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, any 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. 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 terminated, 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. 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. There are no shares remaining for issuance with respect to the stock incentive plans approved in 200

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2024
Investment Securities Available For Sale [Abstract]
INVESTMENT SECURITIES AVAILABLE FOR SALE	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 September 30, 2024 and December 31, 2023 follows: September 30, 2024 Gross Gross Allowance Amortized Unrealized Unrealized for Fair (In thousands) Cost Gains Losses Credit Losses Value Securities Available for Sale: U.S government-sponsored agencies $ 244,808 $ — $ ( 39,795 ) $ — $ 205,013 Mortgage-backed securities–residential 476,695 2,845 ( 37,458 ) — 442,082 SBA pool securities 24,291 — ( 2,878 ) — 21,413 Corporate bond 15,500 29 ( 1,324 ) — 14,205 Total securities available for sale $ 761,294 $ 2,874 $ ( 81,455 ) $ — $ 682,713 Securities Held to Maturity: U.S. government-sponsored agencies $ 40,000 $ — $ ( 2,302 ) $ — $ 37,698 Mortgage-backed securities–residential 63,158 — ( 8,418 ) — 54,740 Total securities held to maturity $ 103,158 $ — $ ( 10,720 ) $ — $ 92,438 December 31, 2023 Gross Gross Allowance Amortized Unrealized Unrealized for Fair (In thousands) Cost Gains Losses Credit Losses Value Securities Available for Sale: U.S government-sponsored agencies $ 244,794 $ — $ ( 47,103 ) $ — $ 197,691 Mortgage-backed securities–residential 363,893 80 ( 43,177 ) — 320,796 SBA pool securities 27,148 — ( 3,744 ) — 23,404 Corporate bond 10,000 — ( 1,274 ) — 8,726 Total securities available for sale $ 645,835 $ 80 $ ( 95,298 ) $ — $ 550,617 Securities Held to Maturity: U.S. government-sponsored agencies $ 40,000 $ — $ ( 3,369 ) $ — $ 36,631 Mortgage-backed securities–residential 67,755 — ( 9,971 ) — 57,784 Total securities held to maturity $ 107,755 $ — $ ( 13,340 ) $ — $ 94,415 The following tables present 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 September 30, 2024 and December 31, 2023. September 30, 2024 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities Available for Sale: U.S. government-sponsored agencies $ — $ — $ 205,013 $ ( 39,795 ) $ 205,013 $ ( 39,795 ) Mortgage-backed securities residential 8,162 ( 101 ) 229,706 ( 37,357 ) 237,868 ( 37,458 ) SBA pool securities — — 21,088 ( 2,878 ) 21,088 ( 2,878 ) Corporate bond — — 8,676 ( 1,324 ) 8,676 ( 1,324 ) Total securities available for sale $ 8,162 $ ( 101 ) $ 464,483 $ ( 81,354 ) $ 472,645 $ ( 81,455 ) Securities Held to Maturity: U.S. government-sponsored agencies $ — $ — $ 37,698 $ ( 2,302 ) $ 37,698 $ ( 2,302 ) Mortgage-backed securities residential — — 54,740 ( 8,418 ) 54,740 ( 8,418 ) Total securities held to maturity $ — $ — $ 92,438 $ ( 10,720 ) $ 92,438 $ ( 10,720 ) Total securities $ 8,162 $ ( 101 ) $ 556,921 $ ( 92,074 ) $ 565,083 $ ( 92,175 ) December 31, 2023 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities Available for Sale: U.S. government-sponsored agencies $ — $ — $ 197,691 $ ( 47,103 ) $ 197,691 $ ( 47,103 ) Mortgage-backed securities residential 36,634 ( 963 ) 217,513 ( 42,214 ) 254,147 ( 43,177 ) SBA pool securities 655 ( 1 ) 22,749 ( 3,743 ) 23,404 ( 3,744 ) Corporate bond — — 8,726 ( 1,274 ) 8,726 ( 1,274 ) Total securities available for sale $ 37,289 $ ( 964 ) $ 446,679 $ ( 94,334 ) $ 483,968 $ ( 95,298 ) Securities Held to Maturity: U.S. government-sponsored agencies $ — $ — $ 36,631 $ ( 3,369 ) $ 36,631 $ ( 3,369 ) Mortgage-backed securities residential 9,647 ( 135 ) 48,137 ( 9,836 ) 57,784 ( 9,971 ) Total securities held to maturity $ 9,647 $ ( 135 ) $ 84,768 $ ( 13,205 ) $ 94,415 $ ( 13,340 ) Total securities $ 46,936 $ ( 1,099 ) $ 531,447 $ ( 107,539 ) $ 578,383 $ ( 108,638 ) 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 is 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 September 30, 2024. Substantially 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 for the nine months ended September 30, 2024 or 2023, respectively. The Company has an investment in a CRA investment fund with a fair value of $ 13.4 million at September 30, 2024. This investment is classified as an equity security in our Consolidated Statements of Condition. This security had a gain of $ 474,000 and $ 279,000 for the three and nine months ended September 30, 2024, respectively. This amount was included in the fair value adjustment for CRA equity security on the Consolidated Statements of Income.

LOANS AND LEASES

LOANS AND LEASES	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
LOANS AND LEASES	3. LOANS AND LEASES Loans outstanding, excluding those held for sale, by general ledger classification, as of September 30, 2024 and December 31, 2023, consisted of the following: % of % of September 30, Totals December 31, Total (Dollars in thousands) 2024 Loans 2023 Loans Residential mortgage $ 590,813 11.12 % $ 578,327 10.65 % Multifamily mortgage 1,784,861 33.58 1,836,390 33.82 Commercial mortgage 578,559 10.88 637,625 11.74 Commercial loans (including equipment financing) 2,221,243 41.79 2,260,524 41.64 Commercial construction 22,421 0.42 17,721 0.33 Home equity lines of credit 38,971 0.73 36,464 0.67 Consumer loans, including fixed rate home equity loans 78,160 1.47 62,036 1.14 Other loans 389 0.01 238 0.01 Total loans $ 5,315,417 100.00 % $ 5,429,325 100.00 % 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 September 30, 2024 and December 31, 2023 are based on the CECL methodology: % of % of September 30, Totals December 31, Total (Dollars in thousands) 2024 Loans 2023 Loans Primary residential mortgage $ 590,681 11.12 % $ 585,126 10.78 % Junior lien loan on residence 42,159 0.79 40,203 0.74 Multifamily property 1,784,861 33.59 1,836,390 33.85 Owner-occupied commercial real estate 269,743 5.08 255,110 4.70 Investment commercial real estate 979,188 18.43 1,061,197 19.56 Commercial and industrial 1,306,170 24.58 1,314,781 24.23 Lease financing 231,284 4.35 251,423 4.63 Construction 28,578 0.54 17,987 0.33 Consumer and other 80,795 1.52 63,906 1.18 Total loans 5,313,459 100.00 % 5,426,123 100.00 % Net deferred costs 1,958 3,202 Total loans including net deferred costs $ 5,315,417 $ 5,429,325 The following tables present the recorded investment in nonaccrual and loans past due 90 days or over still on accrual by class of loans as of September 30, 2024 and December 31, 2023: September 30, 2024 Nonaccrual Loans Past Due With No 90 Days or Over Allowance And Still (In thousands) for Credit Loss Nonaccrual Accruing Interest Primary residential mortgage $ 2,136 $ 2,136 $ — Junior lien loan on residence 96 96 — Multifamily property 15,294 33,337 — Investment commercial real estate — 11,715 — Commercial and industrial 3,641 29,810 — Lease financing 2,555 3,355 — Consumer and other 4 4 — Total $ 23,726 $ 80,453 $ — December 31, 2023 Nonaccrual Loans Past Due With No 90 Days or Over Allowance And Still (In thousands) for Credit Loss Nonaccrual Accruing Interest Primary residential mortgage $ 1,263 $ 1,263 $ — Junior lien loan on residence 100 100 — Multifamily property 16,645 16,645 — Investment commercial real estate 9,881 9,881 — Commercial and industrial 3,965 31,430 — Lease financing 946 2,002 — Consumer and other 3 3 — Total $ 32,803 $ 61,324 $ — The following tables present the aging of the recorded investment in past due loans as of September 30, 2024 and December 31, 2023 by class of loans, excluding nonaccrual loans: September 30, 2024 30-59 60-89 90 Days or Days Days Greater Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 2,170 $ 1,144 $ — $ 3,314 Junior lien loan on residence 52 — — 52 Multifamily property — 28,080 — 28,080 Total $ 2,222 $ 29,224 $ — $ 31,446 December 31, 2023 30-59 60-89 90 Days or Days Days Greater Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 2,448 $ 1,061 $ — $ 3,509 Junior lien on residence 84 — — 84 Multifamily property 11,814 — — 11,814 Commercial and industrial 7,297 11,498 — 18,795 Consumer and other 387 — — 387 Total $ 22,030 $ 12,559 $ — $ 34,589 There were several loan modifications made during the first nine months of 2024, which included one investment commercial real estate loan, one commercial loan and one equipment finance of $ 17.3 million, $ 11.7 million and $ 10.5 million, respectively, that were completed during the third quarter of 2024. Loans past due 30 through 89 days at September 30, 2024 included $ 19.7 million of multifamily loans to two sponsors. Subsequent to September 30, 2024 these loans have been placed on nonaccrual status and downgraded to substandard. Credit Quality Indicators: The Company 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 booked 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 Federal Reserve Board 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 Company 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 non-linear discounted cash flow 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 September 30, 2024 and December 31, 2023 based on originations for the periods indicated; the years represent the year of origination for non-revolving loans: Grade as of September 30, 2024 for Loans Originated During 2019 Revolving- (In thousands) 2024 2023 2022 2021 2020 and Prior Revolving Term Total Primary residential mortgage: Pass $ 41,801 $ 90,809 $ 110,932 $ 76,105 $ 53,790 $ 208,748 $ — $ 5,680 $ 587,865 Special mention — — — — — — — — — Substandard — 1,087 97 — 450 1,182 — — 2,816 Doubtful — — — — — — — — — Total primary residential mortgages 41,801 91,896 111,029 76,105 54,240 209,930 — 5,680 590,681 Current period gross charge-offs — 43 — — — — — — 43 Junior lien loan on residence: Pass — 819 1,188 103 — 1,080 32,410 6,463 42,063 Special mention — — — — — — — — — Substandard — — — — — — 95 1 96 Doubtful — — — — — — — — — Total junior lien loan on residence — 819 1,188 103 — 1,080 32,505 6,464 42,159 Current period gross charge-offs — — — — — — — — — Multifamily property: Pass 17,512 51,742 455,228 598,057 118,001 438,991 4,939 3,524 1,687,994 Special mention — — 3,405 28,343 — 20,962 — — 52,710 Substandard — — 13,366 — — 30,791 — — 44,157 Doubtful — — — — — — — — — Total multifamily property 17,512 51,742 471,999 626,400 118,001 490,744 4,939 3,524 1,784,861 Current period gross charge-offs — — — 2,088 — 3,291 — — 5,379 Owner-occupied commercial real estate: Pass 26,172 4,233 23,033 43,842 19,096 125,011 15,315 10,546 267,248 Special mention — — — 1,161 — 1,334 — — 2,495 Substandard — — — — — — — — — Doubtful — — — — — — — — — Total owner-occupied commercial real estate 26,172 4,233 23,033 45,003 19,096 126,345 15,315 10,546 269,743 Current period gross charge-offs — — — — — — — — — Investment commercial real estate: Pass 24,234 124,323 170,365 138,114 55,937 357,040 14,443 26,592 911,048 Special mention — — — — — 25,189 — 13,910 39,099 Substandard — — 9,786 — — 19,255 — — 29,041 Doubtful — — — — — — — — — Total investment commercial real estate 24,234 124,323 180,151 138,114 55,937 401,484 14,443 40,502 979,188 Current period gross charge-offs — — — — — — — — — Commercial and industrial: Pass 165,508 140,258 168,705 129,582 14,002 24,813 549,628 26,371 1,218,867 Special mention — 210 — 10,983 — 1,350 6,193 615 19,351 Substandard — 1,894 30,266 52 2,049 3,563 27,419 2,709 67,952 Doubtful — — — — — — — — — Total commercial and industrial 165,508 142,362 198,971 140,617 16,051 29,726 583,240 29,695 1,306,170 Current period gross charge-offs — — — — 241 — — — 241 Lease financing: Pass 31,987 45,673 41,099 53,629 28,090 27,450 — — 227,928 Special mention — — — — — — — — — Substandard — 801 — — — 2,555 — — 3,356 Doubtful — — — — — — — — — Total lease financing 31,987 46,474 41,099 53,629 28,090 30,005 — — 231,284 Grade as of September 30, 2024 for Loans Originated During 2019 Revolving- (In thousands) 2024 2023 2022 2021 2020 and Prior Revolving Term Total Current period gross charge-offs — — — — — — — — — Construction: Pass — — — — — — 28,578 — 28,578 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total commercial construction loans — — — — — — 28,578 — 28,578 Current period gross charge-offs — — — — — — — — — Consumer and other loans: Pass 29,855 3,063 — 238 129 3,678 40,947 2,881 80,791 Special mention — — — — — — — — — Substandard — — — — — — 4 — 4 Doubtful — — — — — — — — — Total consumer and other loans 29,855 3,063 — 238 129 3,678 40,951 2,881 80,795 Current period gross charge-offs — — — — — 2 — 19 21 Total: Pass 337,069 460,920 970,550 1,039,670 289,045 1,186,811 686,260 82,057 5,052,382 Special mention — 210 3,405 40,487 — 48,835 6,193 14,525 113,655 Substandard — 3,782 53,515 52 2,499 57,346 27,518 2,710 147,422 Doubtful — — — — — — — — — Total Loans $ 337,069 $ 464,912 $ 1,027,470 $ 1,080,209 $ 291,544 $ 1,292,992 $ 719,971 $ 99,292 $ 5,313,459 Total Current Period Gross Charge-offs $ — $ 43 $ — $ 2,088 $ 241 $ 3,293 $ — $ 19 $ 5,684 Grade as of December 31, 2023 for Loans Originated During 2018 Revolving- (In thousands) 2023 2022 2021 2020 2019 and Prior Revolving Term Total Primary residential mortgage: Pass $ 94,688 $ 114,532 $ 80,175 $ 56,191 $ 35,418 $ 196,251 $ — $ 5,535 $ 582,790 Special mention — — — — — — — — — Substandard — — — 473 935 928 — — 2,336 Doubtful — — — — — — — — — Total primary residential mortgages 94,688 114,532 80,175 56,664 36,353 197,179 — 5,535 585,126 Current period gross charge-offs — — — — — — — — — Junior lien loan on residence: Pass 872 1,394 135 — 530 808 29,620 6,680 40,039 Special mention — — — — — — — — — Substandard — — — — — — 163 1 164 Doubtful — — — — — — — — — Total junior lien loan on residence 872 1,394 135 — 530 808 29,783 6,681 40,203 Current period gross charge-offs — — — — — — — — — Multifamily property: Pass 52,072 476,972 645,093 119,934 209,299 295,226 8,451 — 1,807,047 Special mention — — — — — 1,650 — — 1,650 Substandard — 1,572 7,491 — 10,370 8,260 — — 27,693 Doubtful — — — — — — — — — Total multifamily property 52,072 478,544 652,584 119,934 219,669 305,136 8,451 — 1,836,390 Current period gross charge-offs — — 2,223 — — — — — 2,223 Owner-occupied commercial real estate: Pass 4,333 23,590 39,563 19,457 11,788 126,430 17,559 10,731 253,451 Special mention — — 1,197 — — — 462 — 1,659 Substandard — — — — — — — — — Doubtful — — — — — — — — — Total owner-occupied commercial real estate 4,333 23,590 40,760 19,457 11,788 126,430 18,021 10,731 255,110 Current period gross charge-offs — — — — — — — — — Investment commercial real estate: Pass 125,568 173,660 150,026 57,811 144,447 314,411 30,124 13,379 1,009,426 Special mention — — — — 21,936 3,834 — 14,172 39,942 Substandard — 9,881 — — 1,948 — — — 11,829 Doubtful — — — — — — — — — Total investment commercial real estate 125,568 183,541 150,026 57,811 168,331 318,245 30,124 27,551 1,061,197 Current period gross charge-offs — 1,199 — — — — — — 1,199 Commercial and industrial: Pass 226,699 216,864 191,389 39,003 26,570 16,845 516,844 23,687 1,257,901 Special mention — — 758 — 1,161 190 14,232 194 16,535 Substandard 1,212 22,297 1,467 1,865 953 2,524 7,571 2,456 40,345 Doubtful — — — — — — — — — Total commercial and industrial 227,911 239,161 193,614 40,868 28,684 19,559 538,647 26,337 1,314,781 Current period gross charge-offs — — — — — — — — — Lease financing: Pass 50,706 42,447 61,547 39,710 24,113 19,287 — — 237,810 Special mention — 9,631 511 — 1,375 94 — — 11,611 Substandard 1,056 — — — 946 — — — 2,002 Doubtful — — — — — — — — — Grade as of December 31, 2023 for Loans Originated During 2018 Revolving- (In thousands) 2023 2022 2021 2020 2019 and Prior Revolving Term Total Total lease financing 51,762 52,078 62,058 39,710 26,434 19,381 — — 251,423 Current period gross charge-offs — 4,800 — — — 794 — — 5,594 Construction: Pass — — — — — — 17,987 — 17,987 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total commercial construction loans — — — — — — 17,987 — 17,987 Current period gross charge-offs — — — — — — — — — Consumer and other loans: Pass 3,934 — 301 158 — 4,141 51,788 3,581 63,903 Special mention — — — — — — — — — Substandard — — — — — — 3 — 3 Doubtful — — — — — — — — — Total consumer and other loans 3,934 — 301 158 — 4,141 51,791 3,581 63,906 Current period gross charge-offs — — — — — — 139 — 139 Total: Pass 558,872 1,049,459 1,168,229 332,264 452,165 973,399 672,373 63,593 5,270,354 Special mention — 9,631 2,466 — 24,472 5,768 14,694 14,366 71,397 Substandard 2,268 33,750 8,958 2,338 15,152 11,712 7,737 2,457 84,372 Doubtful — — — — — — — — — Total Loans $ 561,140 $ 1,092,840 $ 1,179,653 $ 334,602 $ 491,789 $ 990,879 $ 694,804 $ 80,416 $ 5,426,123 Total Current Period Gross Charge-offs $ — $ 5,999 $ 2,223 $ — $ — $ 794 $ 139 $ — $ 9,155 At September 30, 2024, $ 80.0 million of substandard loans were individually evaluated, compared to $ 60.6 million at December 31, 2023. The increase in individually evaluated substandard loans was primarily due to six multifamily loans with a balance of $ 31.8 million that were graded as substandard during the nine months of 2024, offset by the sale of two multifamily individually evaluated loans totaling $ 15.1 million. Loan Modifications: On January 1, 2023, the Company adopted Accounting Standards Update 2022-02, which replaced the accounting and recognition of troubled debt restructurings. The Company will provide modifications, which may include other than insignificant delays in payment of amounts due, extension of the terms of the notes or reduction in the interest rates on the notes. In certain instances, the Company may grant more than one type of modification. All accruing modified loans were paying in accordance with their modified terms as of September 30, 2024. The Company has not committed to lend additional amounts as of September 30, 2024 to customers with outstanding loans that are classified as modified loans. The following table provides information related to the modifications during the three months ended September 30, 2024 by pool segment and type of concession granted: Significant Payment Delay Three Months Ended September 30, 2024 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Primary residential mortgage $ 542 0.09 % Investment commercial real estate 17,326 1.77 % Commercial and industrial 68 0.01 % Total $ 17,936 1.87 % Significant Payment Delay and Term Extension Three Months Ended September 30, 2024 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Commercial and industrial $ 10,521 0.81 % Total $ 10,521 0.81 % The following tables provide information related to the modifications during the nine months ended September 30, 2024 by pool segment and type of concession granted: Interest Rate Reduction and Term Extension Nine Months Ended September 30, 2024 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Commercial and industrial $ 12,169 0.93 % Total $ 12,169 0.93 % Significant Payment Delay Nine Months Ended September 30, 2024 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Primary residential mortgage $ 542 0.09 % Investment commercial real estate 17,326 1.77 % Commercial and industrial 11,780 0.90 % Total $ 29,648 2.76 % Significant Payment Delay and Term Extension Nine Months Ended September 30, 2024 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Commercial and industrial $ 10,521 0.81 % Total $ 10,521 0.81 % There were no modifications during the three months ended September 30, 2023. The following tables provide information related to the modifications during the nine months ended September 30, 2023 by pool segment and type of concession granted: Significant Pay Delay Nine Months Ended September 30, 2023 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Commercial and industrial $ 248 0.02 % Total $ 248 0.02 % Interest Rate Reduction Nine Months Ended September 30, 2023 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Commercial and industrial $ 3,077 0.23 % Total $ 3,077 0.23 % The following table depicts the payment status of the loans that were modified to a borrower experiencing financial difficulties on or after January 1, 2023, the date we adopted ASU 2022-02, through September 30, 2024: Payment Status at September 30, 2024 30-89 Days 90+ Days (Dollars in thousands) Current Past Due Past Due Primary residential mortgage $ 542 $ 118 $ — Investment commercial real estate 17,326 — — Commercial and industrial 34,470 2,799 248 Total $ 52,338 $ 2,917 $ 248 The following table presents loans by class modified that failed to comply with the modified terms in the twelve months following modification and resulted in a payment default at September 30, 2024: Amortized Cost Basis of Modified Loans That Subsequently Defaulted Nine Months Ended September 30, 2024 Significant Interest (Dollars in thousands) Pay Delay Rate Reduction Primary residential mortgage $ 118 $ — Total $ 118 $ — The following table presents loans by class modified that failed to comply with the modified terms in the twelve months following modification and resulted in a payment default at September 30, 2023: Amortized Cost Basis of Modified Loans That Subsequently Defaulted Nine Months Ended September 30, 2023 Significant Interest (Dollars in thousands) Pay Delay Rate Reduction Commercial and industrial $ 248 $ — Total $ 248 $ —

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	9 Months Ended
	Sep. 30, 2024
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 $ 28.9 million at September 30, 2024 and $ 27.8 million at December 31, 2023. The following tables present the loan balances by segment, and the corresponding balances in the allowance as of September 30, 2024 and December 31, 2023. The allowance was based on the CECL methodology. September 30, 2024 Ending ACL Attributable Ending 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 $ 1,658 $ — $ 589,023 $ 4,411 $ 590,681 $ 4,411 Junior lien loan on residence 96 — 42,063 200 42,159 200 Multifamily property 33,337 2,242 1,751,524 10,539 1,784,861 12,781 Owner-occupied commercial real estate — — 269,743 4,909 269,743 4,909 Investment commercial real estate 11,715 745 967,473 13,411 979,188 14,156 Commercial and industrial 29,810 6,501 1,276,360 24,808 1,306,170 31,309 Lease financing 3,356 197 227,928 1,524 231,284 1,721 Construction — — 28,578 770 28,578 770 Consumer and other loans — — 80,795 1,026 80,795 1,026 Total ACL $ 79,972 $ 9,685 $ 5,233,487 $ 61,598 $ 5,313,459 $ 71,283 December 31, 2023 Ending ACL Attributable Ending 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 $ 652 $ — $ 584,474 $ 3,931 $ 585,126 $ 3,931 Junior lien loan on residence 100 — 40,103 177 40,203 177 Multifamily property 16,645 — 1,819,745 8,782 1,836,390 8,782 Owner-occupied commercial real estate — — 255,110 4,840 255,110 4,840 Investment commercial real estate 9,881 — 1,051,316 15,403 1,061,197 15,403 Commercial and industrial 31,430 4,518 1,283,351 25,189 1,314,781 29,707 Lease financing 2,002 20 249,421 1,643 251,423 1,663 Construction — — 17,987 516 17,987 516 Consumer and other loans — — 63,906 869 63,906 869 Total ACL $ 60,710 $ 4,538 $ 5,365,413 $ 61,350 $ 5,426,123 $ 65,888 Individually evaluated loans include nonaccrual loans of $ 80.0 million at September 30, 2024 and $ 60.6 million at December 31, 2023. Individually evaluated loans did no t include any performing modified loans at September 30, 2024. An allowance of $ 229,000 was allocated to modified loans at September 30, 2024. The allowance for credit losses was $ 71.3 million as of September 30, 2024, compared to $ 65.9 million at December 31, 2023. The increase in the allowance for credit losses (“ACL”) was primarily related to an increase in the ACL related to multifamily loans, which was driven by the increase in individually evaluated loans of $ 16.7 million to $ 33.3 million and certain qualitative adjustments made during the first nine months of 2024. The allowance for credit losses as a percentage of loans was 1.34 percent at September 30, 2024, compared to 1.21 percent at December 31, 2023. Under Topic 326, the Company's methodology for determining the ACL on loans is based upon key assumptions, including historic net charge-offs, 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 September 30, 2024 and December 31, 2023: September 30, 2024 Average Unpaid Individually Principal Recorded Related Evaluated (In thousands) Balance Investment (A) Allowance Loans With no related allowance recorded: Primary residential mortgage (A) $ 1,754 $ 1,658 $ — $ 1,539 Junior lien loan on residence (A) 99 96 — 103 Multifamily property (B) 15,320 15,295 — 17,526 Commercial and industrial (A)(C)(D) 3,902 2,733 — 3,798 Lease financing (E) 2,671 2,555 — 1,662 Total loans with no related allowance $ 23,746 $ 22,337 $ — $ 24,628 With related allowance recorded: Multifamily property (B) $ 18,138 $ 18,042 $ 2,242 $ 10,090 Investment commercial real estate (D) 14,430 11,715 745 10,684 Commercial and industrial (A)(C)(D)(E) 29,513 27,077 6,501 22,184 Lease financing (E) 841 801 197 889 Total loans with related allowance $ 62,922 $ 57,635 $ 9,685 $ 43,847 Total loans individually evaluated $ 86,668 $ 79,972 $ 9,685 $ 68,475 (A) Secured by residential real estate. (B) Secured by multifamily residential properties. (C) Secured by commercial real estate. (D) Secured by all business assets. (E) Secured by machinery and equipment. December 31, 2023 Average Unpaid Individually Principal Recorded Related Evaluated (In thousands) Balance Investment Allowance Loans With no related allowance recorded: Primary residential mortgage (A) $ 712 $ 652 $ — $ 428 Junior lien loan on residence (A) 100 100 — 8 Multifamily property (B) 18,868 16,645 — 5,964 Investment commercial real estate (C) 12,500 9,881 — 5,781 Commercial and industrial (A)(C)(D) 6,275 3,965 — 2,146 Lease financing (E) 1,035 946 — 2,067 Total loans with no related allowance $ 39,490 $ 32,189 $ — $ 16,394 With related allowance recorded: Commercial and industrial (C)(D)(E) $ 28,359 $ 27,465 $ 4,518 $ 9,814 Lease financing (E) 1,079 1,056 20 1,611 Total loans with related allowance $ 29,438 $ 28,521 $ 4,538 $ 11,425 Total loans individually evaluated for impairment $ 68,928 $ 60,710 $ 4,538 $ 27,819 (A) Secured by residential real estate. (B) Secured by multifamily residential properties. (C) Secured by commercial real estate. (D) Secured by all business assets. (E) Secured by machinery and equipment. Interest income recognized on individually evaluated loans for the three and nine months ended September 30, 2024 and 2023 was not material. The Company did not recognize any income on non-accruing loans for the three and nine months ended September 30, 2024 and 2023. The activity in the allowance for credit losses for the three months ended September 30, 2024 and September 30, 2023 is summarized below: July 1, September 30, 2024 2024 Beginning Provision Ending (In thousands) ACL Charge-offs Recoveries (Credit) (A) ACL Primary residential mortgage $ 4,191 $ ( 43 ) $ — $ 263 $ 4,411 Junior lien loan on residence 187 — — 13 200 Multifamily property 12,601 — — 180 12,781 Owner-occupied commercial real estate 4,712 — — 197 4,909 Investment commercial real estate 14,452 — — ( 296 ) 14,156 Commercial and industrial 28,568 — 2,115 626 31,309 Lease financing 1,690 — 4 27 1,721 Construction 655 — — 115 770 Consumer and other loans 928 ( 4 ) — 102 1,026 Total ACL $ 67,984 $ ( 47 ) $ 2,119 $ 1,227 $ 71,283 (A) Provision to roll forward the ACL excludes a credit of $ 3,000 for off-balance sheet commitments. July 1, September 30, 2023 2023 Beginning Provision Ending (In thousands) ACL Charge-offs Recoveries (Credit) (A) ACL Primary residential mortgage $ 3,148 $ — $ — $ 115 $ 3,263 Junior lien loan on residence 151 — — 3 154 Multifamily property 10,537 — — 45 10,582 Owner-occupied commercial real estate 4,708 — — ( 46 ) 4,662 Investment commercial real estate 13,548 — — ( 23 ) 13,525 Commercial and industrial 27,433 — — 4,701 32,134 Lease financing 2,063 — — 904 2,967 Construction 421 — — 131 552 Consumer and other loans 695 ( 57 ) 1 114 753 Total ACL $ 62,704 $ ( 57 ) $ 1 $ 5,944 $ 68,592 (A) Provision to roll forward the ACL excludes a provision of $ 88,000 for off-balance sheet commitments. January 1, September 30, 2024 2024 Beginning Provision Ending (In thousands) ACL Charge-offs Recoveries (Credit) (A) ACL Primary residential mortgage $ 3,931 $ ( 43 ) $ — $ 523 $ 4,411 Junior lien loan on residence 177 — — 23 200 Multifamily property 8,782 ( 5,379 ) — 9,378 12,781 Owner-occupied commercial real estate 4,840 — — 69 4,909 Investment commercial real estate 15,403 — — ( 1,247 ) 14,156 Commercial and industrial 29,707 ( 241 ) 2,120 ( 277 ) 31,309 Lease financing 1,663 — 3,214 ( 3,156 ) 1,721 Construction 516 — — 254 770 Consumer and other loans 869 ( 21 ) 2 176 1,026 Total ACL $ 65,888 $ ( 5,684 ) $ 5,336 $ 5,743 $ 71,283 (A) Provision to roll forward the ACL excludes a provision of $ 19,000 for off-balance sheet commitments. January 1, September 30, 2023 2023 Beginning Provision Ending (In thousands) ACL Charge-offs Recoveries (Credit) (A) ACL Primary residential mortgage $ 2,894 $ — $ — $ 369 $ 3,263 Junior lien loan on residence 154 — — — 154 Multifamily property 8,849 — — 1,733 10,582 Owner-occupied commercial real estate 4,835 — — ( 173 ) 4,662 Investment commercial real estate 15,480 ( 1,199 ) — ( 756 ) 13,525 Commercial and industrial 25,530 — — 6,604 32,134 Lease financing 2,314 — — 653 2,967 Construction 236 — — 316 552 Consumer and other loans 537 ( 118 ) 6 328 753 Total ACL $ 60,829 $ ( 1,317 ) $ 6 $ 9,074 $ 68,592 (A) Provision to roll forward the ACL excludes a credit of $ 9,000 for off-balance sheet commitments. Allowance for Credit Losses on Off-Balance Sheet Commitments The following tables present the activity in the ACL for off-balance sheet commitments for the nine months ended September 30, 2024 and 2023: January 1, 2024 September 30, Beginning Provision 2024 (In thousands) ACL (Credit) Ending ACL Off balance sheet commitments $ 687 $ 19 $ 706 Total ACL $ 687 $ 19 $ 706 January 1, 2023 September 30, Beginning Provision 2023 (In thousands) ACL (Credit) Ending ACL Off balance sheet commitments $ 752 $ ( 9 ) $ 743 Total ACL $ 752 $ ( 9 ) $ 743

DEPOSITS

DEPOSITS	9 Months Ended
	Sep. 30, 2024
Deposits [Abstract]
DEPOSITS	5. DEPOSITS Certificates of deposit that met or exceeded $250,000 totaled $ 140.7 million and $ 105.9 million at September 30, 2024 and December 31, 2023, respectively. These totals exclude brokered certificates of deposit, which the Company had none at September 30, 2024 and $ 120.5 million at December 31, 2023. The following table sets forth the details of total deposits as of September 30, 2024 and December 31, 2023: September 30, December 31, 2024 2023 (Dollars in thousands) Noninterest-bearing demand deposits $ 1,079,877 18.19 % $ 957,687 18.16 % Interest-bearing checking (A) 3,316,217 55.87 2,882,193 54.65 Savings 103,979 1.75 111,573 2.12 Money market 902,562 15.21 740,559 14.04 Certificates of deposit - retail 515,297 8.68 443,791 8.41 Certificates of deposit - listing service 7,454 0.13 7,804 0.15 Subtotal deposits 5,925,386 99.83 5,143,607 97.53 Interest-bearing demand - Brokered 10,000 0.17 10,000 0.19 Certificates of deposit - Brokered — — 120,507 2.28 Total deposits $ 5,935,386 100.00 % $ 5,274,114 100.00 % (A) Interest-bearing checking includes $ 1.4 billion at September 30, 2024 and $ 990.7 million at December 31, 2023 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program. The scheduled maturities of certificates of deposit, including brokered certificates of deposit, as of September 30, 2024, are as follows: (In thousands) 2024 $ 158,997 2025 337,013 2026 24,070 2027 1,240 2028 871 2029 and later 560 Total $ 522,751

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	6. FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS At September 30, 2024, the Company had no overnight borrowings with the FHLB compared to $ 403.8 million of overnight borrowings at the FHLB at a rate of 5.62 percent at December 31, 2023. At September 30, 2024, the Company also had available unused short-term overnight borrowing capacity through the FHLB of $ 1.8 billion, $ 22.0 million from correspondent banks and $ 1.8 billion at the Federal Reserve Bank of New York.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
BUSINESS SEGMENTS	7. 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. Banking The Banking segment includes: commercial (includes C&I and equipment finance), commercial real estate, multifamily, commercial construction, 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 three and nine months ended September 30, 2024 and 2023. Three Months Ended September 30, 2024 Peapack (In thousands) Banking Private Total Net interest income $ 37,077 $ 604 $ 37,681 Noninterest income 3,604 15,334 18,938 Total income 40,681 15,938 56,619 Provision for credit losses 1,224 — 1,224 Compensation and benefits 23,988 7,062 31,050 Premises and equipment expense 4,794 839 5,633 FDIC expense 870 — 870 Other operating expense 5,013 2,083 7,096 Total operating expense 35,889 9,984 45,873 Income before income tax expense 4,792 5,954 10,746 Income tax expense 1,404 1,755 3,159 Net income $ 3,388 $ 4,199 $ 7,587 Three Months Ended September 30, 2023 Peapack (In thousands) Banking Private Total Net interest income $ 35,811 $ 704 $ 36,515 Noninterest income 5,120 14,234 19,354 Total income 40,931 14,938 55,869 Provision for credit losses 5,856 — 5,856 Compensation and employee benefits 18,440 6,824 25,264 Premises and equipment expense 4,436 778 5,214 FDIC insurance expense 741 — 741 Other operating expense 4,188 2,006 6,194 Total operating expense 33,661 9,608 43,269 Income before income tax expense 7,270 5,330 12,600 Income tax expense 2,275 1,570 3,845 Net income $ 4,995 $ 3,760 $ 8,755 Nine Months Ended September 30, 2024 Peapack (In thousands) Banking Private Total Net interest income $ 105,299 $ 1,799 $ 107,098 Noninterest income 12,616 46,578 59,194 Total income 117,915 48,377 166,292 Provision for credit losses 5,762 — 5,762 Compensation and employee benefits 67,585 21,825 89,410 Premises and equipment expense 14,214 2,276 16,490 FDIC insurance expense 2,685 — 2,685 Other operating expense 13,231 6,000 19,231 Total operating expense 103,477 30,101 133,578 Income before income tax expense 14,438 18,276 32,714 Income tax expense 3,958 5,008 8,966 Net income $ 10,480 $ 13,268 $ 23,748 Total assets at period end $ 6,663,410 $ 130,382 $ 6,793,792 Nine Months Ended September 30, 2023 Peapack (In thousands) Banking Private Total Net interest income $ 116,004 $ 3,410 $ 119,414 Noninterest income 13,027 42,961 55,988 Total income 129,031 46,371 175,402 Provision for credit losses 9,065 — 9,065 Compensation and employee benefits 54,558 21,646 76,204 Premises and equipment expense 12,072 2,245 14,317 FDIC insurance expense 2,181 — 2,181 Other operating expense 11,317 6,660 17,977 Total operating expense 89,193 30,551 119,744 Income before income tax expense 39,838 15,820 55,658 Income tax expense 11,021 4,382 15,403 Net income $ 28,817 $ 11,438 $ 40,255 Total assets at period end $ 6,405,796 $ 115,785 $ 6,521,581

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE	8. 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 an 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 both collateral-dependent impaired loans and other real estate owned 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 third party conducts a review of the appraisal for compliance with the Uniform Standards of Professional Appraisal Practice and appropriate analysis methods for the type of property. Subsequently, 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 appraisals 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 a 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 September 30, 2024. 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: Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Significant Markets For Other Significant Identical Observable Unobservable September 30, Assets Inputs Inputs (In thousands) 2024 (Level 1) (Level 2) (Level 3) Assets: Available for sale: U.S. government-sponsored agencies $ 205,013 $ — $ 205,013 $ — Mortgage-backed securities-residential 442,082 — 442,082 — SBA pool securities 21,413 — 21,413 — Corporate bond 14,205 — 14,205 — CRA investment fund 13,445 13,445 — — Derivatives: Cash flow hedges 3,970 — 3,970 — Loan level swaps 14,297 — 14,297 — Total $ 714,425 $ 13,445 $ 700,980 $ — Liabilities: Derivatives: Cash flow hedges 109 — 109 — Loan level swaps 14,297 — 14,297 — Total $ 14,406 $ — $ 14,406 $ — Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Significant Markets For Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs (In thousands) 2023 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: U.S. government-sponsored agencies $ 197,691 $ — $ 197,691 $ — Mortgage-backed securities-residential 320,796 — 320,796 — SBA pool securities 23,404 — 23,404 — Corporate bond 8,726 — 8,726 — CRA investment fund 13,166 13,166 — — Derivatives: Cash flow hedges 6,814 — 6,814 — Loan level swaps 23,826 — 23,826 — Total $ 594,423 $ 13,166 $ 581,257 $ — Liabilities: Derivatives: Loan level swaps $ 23,826 $ — $ 23,826 $ — Total $ 23,826 $ — $ 23,826 $ — 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 September 30, 2024 and December 31, 2023. The following table presents residential loans held for sale, at fair value, at the dates indicated: (In thousands) September 30, 2024 December 31, 2023 Residential loans contractual balance $ 554 $ 98 Fair value adjustment 7 2 Total fair value of residential loans held for sale $ 561 $ 100 The following tables summarize, at the dates indicated, assets measured at fair value on a non-recurring basis: Fair Value Measurements Using Quoted Prices in Active Significant Markets For Other Significant Identical Observable Unobservable September 30, Assets Inputs Inputs (In thousands) 2024 (Level 1) (Level 2) (Level 3) Assets: Individually evaluated loans: Multifamily property $ 15,800 $ — $ — $ 15,800 Investment commercial real estate 10,970 — — 10,970 Commercial and industrial 20,575 — — 20,575 Lease financing 604 — — 604 Fair Value Measurements Using Quoted Prices in Active Significant Markets For Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs (In thousands) 2023 (Level 1) (Level 2) (Level 3) Assets: Individually evaluated loans: Commercial and industrial $ 22,947 $ — $ — $ 22,947 Lease financing 1,035 — — 1,035 The carrying amounts and estimated fair values of financial instruments at September 30, 2024 are as follows: Fair Value Measurements at September 30, 2024 using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 492,658 $ 492,658 $ — $ — $ 492,658 Securities available for sale 682,713 — 682,713 — 682,713 Securities held to maturity 103,158 — 92,438 — 92,438 CRA investment fund 13,445 13,445 — — 13,445 FHLB and FRB stock 12,459 — — — N/A Loans held for sale, at fair value 561 — 561 — 561 Loans held for sale, at lower of cost or fair value 4,189 — 4,540 — 4,540 Loans, net of allowance for credit losses 5,244,134 — — 5,075,349 5,075,349 Accrued interest receivable 31,973 — 3,112 28,861 31,973 Accrued interest receivable loan level swaps (A) 1,159 — 1,159 — 1,159 Cash flow hedges 3,970 — 3,970 — 3,970 Loan level swaps 14,297 — 14,297 — 14,297 Financial liabilities Deposits $ 5,935,386 $ 5,412,635 $ 521,577 $ — $ 5,934,212 Subordinated debt 133,489 — — 120,402 120,402 Accrued interest payable 10,252 7,046 2,142 1,064 10,252 Accrued interest payable loan level swaps (B) 1,159 — 1,159 — 1,159 Cash flow hedges 109 — 109 — 109 Loan level swap 14,297 — 14,297 — 14,297 (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, 2023 are as follows: Fair Value Measurements at December 31, 2023 using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 187,671 $ 187,671 $ — $ — $ 187,671 Securities available for sale 550,617 — 550,617 — 550,617 Securities held to maturity 107,755 — 94,415 — 94,415 CRA investment fund 13,166 13,166 — — 13,166 FHLB and FRB stock 31,044 — — — N/A Loans held for sale, at fair value 100 — 100 — 100 Loans held for sale, at lower of cost or fair value 6,695 — 7,201 — 7,201 Loans, net of allowance for loan and lease losses 5,363,437 — — 5,294,942 5,294,942 Accrued interest receivable 30,676 — 2,868 27,808 30,676 Accrued interest receivable loan level swaps (A) 1,373 — 1,373 — 1,373 Cash flow hedges 6,814 — 6,814 — 6,814 Loan level swaps 23,826 — 23,826 — 23,826 Financial liabilities Deposits $ 5,274,114 $ 4,702,012 $ 567,696 $ — $ 5,269,708 Short-term borrowings 403,814 — 403,814 — 403,814 Subordinated debt 133,274 — — 111,924 111,924 Accrued interest payable 7,115 4,989 1,968 158 7,115 Accrued interest payable loan level swaps (B) 1,373 — 1,373 — 1,373 Loan level swaps 23,826 — 23,826 — 23,826 (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 CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	9 Months Ended
	Sep. 30, 2024
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 within the scope of ASC 606 is recognized within noninterest income. The following tables present the sources of noninterest income for the periods indicated: For the Three Months Ended September 30, (In thousands) 2024 2023 Service charges on deposits Overdraft fees $ 123 $ 129 Interchange income 256 283 Other 948 907 Wealth management fees (A) 15,150 13,975 Corporate advisory fee income 55 85 Other (B) 2,406 3,975 Total noninterest other income $ 18,938 $ 19,354 For the Nine Months Ended September 30, (In thousands) 2024 2023 Service charges on deposits Overdraft fees $ 345 $ 392 Interchange income 761 903 Other 2,888 2,602 Wealth management fees (A) 45,976 41,989 Loss on sale of property ( 4 ) — Corporate advisory fee income 976 180 Other (B) 8,252 9,922 Total noninterest other income $ 59,194 $ 55,988 (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 periods indicated: For the Three Months Ended For the Three Months Ended 2024 2023 (In thousands) Wealth Wealth Revenue by Operating Segment Banking Management Total Banking Management Total Service charges on deposits Overdraft fees $ 123 $ — $ 123 $ 129 $ — $ 129 Interchange income 256 — 256 283 — 283 Other 948 — 948 907 — 907 Wealth management fees (A) — 15,150 15,150 — 13,975 13,975 Corporate advisory fee income 55 — 55 85 — 85 Other (B) 2,222 184 2,406 3,716 259 3,975 Total noninterest income $ 3,604 $ 15,334 $ 18,938 $ 5,120 $ 14,234 $ 19,354 For the Nine Months Ended For the Nine Months Ended (In thousands) 2024 2023 Revenue by Operating Wealth Wealth Segment Banking Management Total Banking Management Total Service charges on deposits Overdraft fees $ 345 $ — $ 345 $ 392 $ — $ 392 Interchange income 761 — 761 903 — 903 Other 2,888 — 2,888 2,602 — 2,602 Wealth management fees (A) — 45,976 45,976 — 41,989 41,989 Loss on sale of property ( 4 ) — ( 4 ) — — — Corporate advisory fee income 976 — 976 180 — 180 Other (B) 7,650 602 8,252 8,950 972 9,922 Total noninterest income $ 12,616 $ 46,578 $ 59,194 $ 13,027 $ 42,961 $ 55,988 (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 is the 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 for the third quarter of 2024 by $ 6,000 and $ 2,000 for the same quarter in 2023. Cardholder rewards reduced interchange income by $ 12,000 and $ 6,000 for the nine months ended September 30, 2024 and 2023, 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. 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 loss on sale of property of $ 4,000 for the nine months ended September 30, 2024. 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 judgment is required in determining when a transaction is considered to be terminated. Other : All of the other income items are outside the scope of ASC 606.

OTHER OPERATING EXPENSES

OTHER OPERATING EXPENSES	9 Months Ended
	Sep. 30, 2024
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 periods indicated: Three Months Ended Nine Months Ended September 30, September 30, (In thousands) 2024 2023 2024 2023 Professional and legal fees $ 2,014 $ 1,619 $ 5,069 $ 4,143 Trust department expense 1,064 977 2,938 2,856 Telephone 390 407 1,182 1,138 Advertising 340 482 1,308 1,584 Amortization of intangible assets 272 339 816 1,048 Branch/office restructure — — — 175 Other operating expenses 3,016 2,370 7,918 7,033 Total other operating expenses $ 7,096 $ 6,194 $ 19,231 $ 17,977

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	9 Months Ended
	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	11. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the three months ended September 30, 2024 and 2023: Other Comprehensive Other Income/(Loss) Comprehensive Three Months Balance at Income/(Loss) Ended Balance at July 1, Before September 30, September 30, (In thousands) 2024 Reclassifications 2024 2024 Net unrealized holding gain/(loss) on $ ( 75,188 ) $ 17,574 $ 17,574 $ ( 57,614 ) Gain/(loss) on cash flow hedges 6,846 ( 4,052 ) ( 4,052 ) 2,794 Accumulated other comprehensive gain/(loss), $ ( 68,342 ) $ 13,522 $ 13,522 $ ( 54,820 ) Other Comprehensive Other Income/(Loss) Comprehensive Three Months Balance at Income/(Loss) Ended Balance at July 1, Before September 30, September 30, (In thousands) 2023 Reclassifications 2023 2023 Net unrealized holding gain/(loss) on $ ( 76,047 ) $ ( 14,987 ) $ ( 14,987 ) $ ( 91,034 ) Gain/(loss) on cash flow hedges 8,050 1,331 1,331 9,381 Accumulated other comprehensive gain/(loss), $ ( 67,997 ) $ ( 13,656 ) $ ( 13,656 ) $ ( 81,653 ) The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the nine months ended September 30, 2024 and 2023: Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Nine Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive September 30, September 30, (In thousands) 2024 Reclassifications Income/(Loss) 2024 2024 Net unrealized holding gain/(loss) on $ ( 69,809 ) $ 12,195 $ — $ 12,195 $ ( 57,614 ) Gain/(loss) on cash flow hedges 4,931 ( 2,137 ) — ( 2,137 ) 2,794 Accumulated other comprehensive $ ( 64,878 ) $ 10,058 $ — $ 10,058 $ ( 54,820 ) Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Nine Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive September 30, September 30, (In thousands) 2023 Reclassifications Income/(Loss) 2023 2023 Net unrealized holding gain/(loss) on $ ( 80,972 ) $ ( 10,062 ) $ — $ ( 10,062 ) $ ( 91,034 ) Gain/(loss) on cash flow hedges 6,761 2,680 ( 60 ) 2,620 9,381 Accumulated other comprehensive $ ( 74,211 ) $ ( 7,382 ) $ ( 60 ) $ ( 7,442 ) $ ( 81,653 ) The following represents the reclassifications out of accumulated other comprehensive income/(loss) for the nine months ended September 30, 2024 and 2023: Nine Months Ended September 30, (In thousands) 2024 2023 Affected Line Item in Income Unrealized gains/(losses) on cash Reclassification adjustment for amounts $ — $ ( 84 ) Interest Expense Tax effect — 24 Income tax expense Total reclassifications, net of tax $ — $ ( 60 )

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	12. 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 $ 360.0 million and $ 310.0 million as of September 30, 2024 and December 31, 2023, respectively, 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 September 30, 2024, 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. The following table presents information about the interest rate swaps designated as cash flow hedges as of September 30, 2024 and December 31, 2023: (Dollars in thousands) September 30, December 31, Notional amount $ 360,000 $ 310,000 Weighted average pay rate 2.29 % 2.22 % Weighted average receive rate 4.20 % 4.14 % Weighted average maturity 2.60 years 2.98 years Unrealized gain/(loss), net $ 3,861 $ 6,814 Number of contracts 14 12 September 30, 2024 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing deposits $ 360,000 $ 3,861 Total included in other assets $ 335,000 3,970 Total included in other liabilities $ 25,000 ( 109 ) December 31, 2023 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing deposits $ 310,000 $ 6,814 Total included in other assets 310,000 6,814 Total included in other liabilities — —

SUBORDINATED DEBT

SUBORDINATED DEBT	9 Months Ended
	Sep. 30, 2024
Subordinated Debt [Abstract]
SUBORDINATED DEBT	13. 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 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 London Interbank Offered Rate (“LIBOR”) rate plus 254 basis points, payable quarterly in arrears (which was 8.14 percent at September 30, 2024). 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 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 Secured Overnight Financing Rate (“SOFR”) plus 326 basis points, payable quarterly in arrears. Debt issuance costs incurred totaled $ 1.9 million and are being amortized to maturity. Subordinated debt is presented net of issuance costs on the Consolidated Statements of Condition. The subordinated debt issuances are included in the Company’s regulatory total capital amount and ratio.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
LEASES	14. LEASES The Company maintains certain property and equipment under direct financing and operating leases. As of September 30, 2024, the Company's operating lease ROU asset and operating lease liability totaled $ 41.7 million and $ 44.8 million, respectively. As of December 31, 2023, the Company's operating lease ROU asset and operating lease liability totaled $ 12.1 million and $ 12.9 million, respectively. The increase in the Company’s operating lease liability and ROU asset was primarily due to the modification of the existing lease on the main office which had an operating lease liability balance of $ 19.0 million and an ROU asset balance of $ 18.2 million as of September 30, 2024. Additionally, the Company executed a lease for our New York City location, which resulted in an operating lease liability of $ 15.0 million and an ROU asset of $ 13.4 million as of September 30, 2024. A weighted average discount rate of 4.39 percent and 2.72 percent was used in the measurement of the ROU asset and lease liability as of September 30, 2024 and December 31, 2023, respectively. The Company's leases have remaining lease terms between two months to 12 years , with a weighted average lease term of 9.46 years at September 30, 2024. The Company's leases had remaining lease terms between four months to 13 years, with a weighted average lease term of 6.75 years at December 31, 2023. 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 $ 1.7 million and $ 792,000 for the three months ended September 30, 2024 and 2023, respectively. The variable lease costs were $ 104,000 and $ 58,000 for the three months ended September 30, 2024 and 2023, respectively. Total operating lease costs were $ 4.0 million and $ 2.4 million for the nine months ended September 30, 2024 and 2023, respectively. The variable lease costs were $ 262,000 and $ 200,000 for the nine months ended September 30, 2024 and 2023, respectively. The following is a schedule of the Company's operating lease liabilities by contractual maturity as of September 30, 2024: (In thousands) 2024 1,282 2025 6,162 2026 6,173 2027 5,839 2028 5,659 Thereafter 30,195 Total lease payments 55,310 Less: imputed interest 10,535 Total present value of lease payments $ 44,775 The following table shows the supplemental cash flow information related to the Company’s direct finance and operating leases for the periods indicated: For the Nine Months Ended September 30, (In thousands) 2024 2023 Right-of-use asset obtained in exchange for lease obligation $ 32,483 $ 1,926 Operating cash flows from operating leases 3,108 2,184 Operating cash flows from direct finance leases 74 149 Financing cash flows from direct finance leases 308 561

ACCOUNTING PRONOUNCEMENTS

ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
ACCOUNTING PRONOUNCEMENTS	15. ACCOUNTING PRONOUNCEMENTS In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments In Response to the SEC's Disclosure Update and Simplification Initiative to clarify or improve disclosure and presentation requirements on a variety of topics and align the requirements in the FASB accounting standard codification with the Securities and Exchange Commission ("SEC") regulations. The amendments will be effective for the Company only if the SEC removes the related disclosure requirement from its existing regulations no later than June 30, 2027. If the SEC timely removes such a related requirement from its existing regulations, the corresponding amendments within the ASU will become effective for the Company on the same date with early adoption permitted. The Company does not expect the amendments in this update to have a material impact on our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting - Improvements to Reportable Segment Disclosures (Topic 280) , to improve reportable segment disclosure requirements through enhanced disclosures about significant segment and interim periods with fiscal years beginning after December 15, 2024 with early adoption permitted. The Company does not expect this ASU to have a material effect on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Tax - Improvements to Income Tax Disclosures (Topic 740) , which requires reporting companies to break out their income tax expense and tax rate reconciliation in more detail. For public companies, the requirements will become effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company does not expect this ASU to have a material effect on our consolidated financial statements. In March 2024, the FASB issued ASU No. 2024-01, Compensation-Stock Compensation (Topic 718): Scope Applications of Profits Interests and Similar Awards. ASU 2024-01 adds an example to Topic 718 which illustrates how to apply the scope guidance to determine whether profits interest and similar awards should be accounted for as share-based payment arrangements under Topic 718 or under other U.S. GAAP. ASU 2024-01 is effective for annual periods beginning after December 15, 2024, although early adoption is permitted. Upon adoption of ASU 2024-01, the Company does not expect this ASU to have an impact on our consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
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: • Peapack Capital Corporation (“PCC”) • 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, which owns one percent of Peapack Ventures, LLC • Peapack Ventures, LLC, which owns the remaining 21 percent of Peapack-Gladstone Realty, Inc. • Peapack-Gladstone Realty, Inc. • PGB Securities, Inc. While the following notes to the consolidated financial statements include the consolidated results of the Company, the Bank and their subsidiaries, these notes primarily reflect the Bank’s and its subsidiaries’ activities. All significant intercompany balances and transactions have been eliminated from the accompanying consolidated financial statements.
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation : The consolidated financial statements have been prepared in accordance with GAAP. In preparing the financial statements, Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the statement of condition and revenues and expenses for the periods presented. Actual results could differ from those estimates.
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) the Peapack Private Wealth Management Division ("Peapack Private"), which includes investment management services to individuals and institutions. Management uses certain methodologies to allocate income and expense to the business segments. The Banking segment includes: commercial (including commercial and industrial (“C&I”) and equipment financing), commercial real estate, multifamily, commercial construction, 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 services. 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 & Investments of Delaware. The majority of wealth management fees are collected on a monthly or quarterly basis and are calculated on either a fixed or tiered fee schedule, based upon the market value of assets under management and/or administration (“AUMs”). Other non AUM-based revenues such as personal or fiduciary tax return preparation fees, executor fees, trust termination fees and/or financial planning and advisory fees are charged as services are rendered.
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 : Under Accounting Standards Update ("ASU") 2016-13, debt securities available-for-sale are measured at fair value and subject to impairment testing. When an available-for-sale debt security 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 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. Both cash and stock 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 loans held for sale at fair value (mortgage 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 $ 157.0 million and $ 162.9 million as of September 30, 2024 and December 31, 2023, respectively. SBA loans held for sale totaled $ 4.5 million and $ 7.2 million at September 30, 2024 and December 31, 2023, respectively. 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/costs, however, for the Company’s loan disclosures, accrued interest and deferred fees/costs were 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 individually evaluated 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 unless the asset is both well secured and in the process of collection. All interest accrued but not received for loans placed on nonaccrual status are reversed against interest income. Payments received on nonaccrual loans are recorded as principal payments. A nonaccrual loan is returned to accrual status only when interest and principal payments are brought current and future payments are reasonably assured, generally when 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 closed-end loans are generally charged off after they become 120 days past due and open-end loans after 180 days. 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 may be returned to accrual status. Nonaccrual mortgage loans are generally charged off to the extent that 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, New York and Pennsylvania.
Allowance for Credit Losses	Allowance for Credit Losses : Current expected credit losses ("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. 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. ACL in accordance with CECL methodology With respect to pools of similar loans that are collectively evaluated, an appropriate level of general allowance is determined by portfolio segment using a non-linear 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 and national consumer price and confidence indices. 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. The ACL results in two forms of allocations, specific and general. These two components represent the total ACL deemed adequate to cover current expected credit losses in the loan portfolio. 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 ACL based on the fair value of collateral. The ACL 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 ACL. Several of the steps in the methodology are subjective 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 may change from period to period. Although the ACL 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 aggregates the loan portfolio based on common characteristics. The following segments have been identified: Primary Residential Mortgages . The Bank originates one to four family residential mortgage loans in the Tri-State area (which is comprised of 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. 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. 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. 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, other changes in general economic conditions or changes in rent regulation 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 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. 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. 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 a company, if privately held. Commercial and industrial loans are typically repaid first by the cash flows generated by the borrower’s business operations. 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 will often require 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 through 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, inaccurate estimates of the period of construction, 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. Loan Modifications: On January 1, 2023, the Company adopted ASU 2022-02, which replaced the accounting and recognition of troubled debt restructurings. 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.
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 as 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 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, any 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.
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 terminated, 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.
Stock-Based Compensation	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. There are no shares remaining for issuance with respect to the stock incentive plans approved in 2006 and 2012. Options granted under this plan are, in general, exercisable not earlier than one year after the date of grant, 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. 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 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 the nine months ended September 30, 2024 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In thousands) Balance, January 1, 2024 1,400 $ 19.15 Exercised during 2024 — — Expired during 2024 ( 1,400 ) 19.15 Forfeited during 2024 — — Balance, September 30, 2024 — $ — — $ — Vested and expected to vest — $ — — $ — Exercisable at September 30, 2024 — $ — — $ — There were no stock options granted during the three or nine months ended September 30, 2024. As of September 30, 2024, 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 performance-based and service-based restricted stock units in 2023. Service-based units vest ratably over a three- or five-year period. There were no service-based restricted stock units granted under the 2021 Long-Term Stock Incentive Plan during the first nine months of 2024. 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 no performance-based restricted stock units granted under the 2021 Long-Term Stock Incentive Plan in the first nine months of 2024. Changes in non-vested shares dependent on performance criteria for the nine months ended September 30, 2024 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2024 176,364 $ 32.40 Granted during 2024 4,705 31.36 Vested during 2024 (1) ( 45,592 ) 31.36 Forfeited during 2024 — — Balance, September 30, 2024 135,477 $ 32.71 (1) Settled in cash. Changes in service-based restricted stock awards/units for the nine months ended September 30, 2024 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2024 626,742 $ 29.62 Granted during 2024 — — Vested during 2024 (1) ( 248,028 ) 27.83 Shares to be settled in cash ( 120,046 ) 22.13 Forfeited during 2024 ( 6,647 ) 31.98 Balance, September 30, 2024 252,021 $ 29.81 (1) Includes 100,349 shares that settled in cash. As of September 30, 2024, there was $ 7.8 million of total unrecognized compensation cost related to service-based and performance-based restricted stock units. That cost is expected to be recognized over a weighted average period of 1.07 years. Stock compensation expense recorded for the third quarters of 2024 and 2023 totaled $ 3.4 million and $ 2.3 million, respectively. Stock compensation expense recorded for the nine months ended September 30, 2024 and 2023 totaled $ 9.3 million and $ 8.6 million, respectively.
Employee Stock Purchase Plan	Employee Stock Purchase Plan (“ESPP”): The 2014 ESPP expired in April 2024 and was replaced by the 2024 ESPP, which was approved by shareholders on April 30, 2024 and allowed for the issuance of 150,000 shares. The ESPP allows for the purchase of shares during four three-month Offering Periods of each calendar year. The Offering Periods end on March 31, June 30, September 30 and December 31 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 $ 56,000 and $ 34,000 in salaries and employee benefits expense for the three months ended September 30, 2024 and 2023, respectively, related to the ESPP. Total shares issued under the ESPP during the third quarter ended September 30, 2024 and 2023 were 11,257 and 8,850 , respectively. The Company recorded $ 131,000 and $ 140,000 in salaries and employee benefits expense for the nine months ended September 30, 2024 and 2023, respectively, related to the ESPP. Total shares issued under the ESPP during the nine months ended September 30, 2024 and 2023 were 27,016 and 26,491 , respectively.
Earnings per share - Basic and Diluted	Earnings per share – Basic and Diluted: The following is a reconciliation of the calculation of basic and diluted earnings per share. Basic net income per share is calculated by dividing net income available to shareholders by the weighted average shares outstanding during the reporting period. Diluted net income per share is computed similarly to that of basic net income per share, except that the denominator is increased to include the number of additional shares that would have been outstanding utilizing the Treasury Stock Method if all shares underlying potentially dilutive stock options were issued and all shares of restricted stock, stock warrants or restricted stock units were to vest during the reporting period. Three Months Ended Nine Months Ended September 30, September 30, (Dollars in thousands, except per share data) 2024 2023 2024 2023 Net income available to common shareholders $ 7,587 $ 8,755 $ 23,748 $ 40,255 Basic weighted average shares outstanding 17,616,046 17,856,961 17,691,309 17,876,316 Plus: common stock equivalents 83,996 153,166 55,251 215,208 Diluted weighted average shares outstanding 17,700,042 18,010,127 17,746,560 18,091,524 Net income per share Basic $ 0.43 $ 0.49 $ 1.34 $ 2.25 Diluted 0.43 0.49 1.34 2.23 For the three months ended September 30, 2024 and 2023, restricted stock units totaling 125,152 and 235,902 , respectively, were not included in the computation of diluted earnings per share because they were anti-dilutive. For the nine months ended September 30, 2024 and 2023, restricted stock units totaling 277,141 and 416,712 , respectively, were not included in the computation of diluted earnings per share because they were anti-dilutive. Anti-dilutive shares are common stock equivalents with weighted average exercise prices in excess of the average market value for the periods presented.
Income Taxes	Income Taxes: The Company files a consolidated Federal income tax return. Separate state income tax returns are filed for each subsidiary based on current laws and regulations. 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 2020 or by New Jersey tax authorities for years prior to 2018. The Company recognizes interest and/or penalties related to income tax matters in income tax expense.
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.
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 any net assets acquired and liabilities assumed as of the date of acquisition in a purchase business combination. 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 management acquisitions. Management monitors the impact of changes in the financial markets and includes these assessments in our impairment process. The Company has selected December 31 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill, which includes assembled workforce has an indefinite life on our statement of financial condition. Other intangible assets, which primarily consist of customer relationship intangible assets arising from acquisitions, are amortized on an accelerated basis over their estimated useful lives, which range from 5 to 15 years .

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Changes in Options Outstanding	Changes in options outstanding during the nine months ended September 30, 2024 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In thousands) Balance, January 1, 2024 1,400 $ 19.15 Exercised during 2024 — — Expired during 2024 ( 1,400 ) 19.15 Forfeited during 2024 — — Balance, September 30, 2024 — $ — — $ — Vested and expected to vest — $ — — $ — Exercisable at September 30, 2024 — $ — — $ —
Schedule of Changes in Non-Vested Performance-Based Shares	Changes in non-vested shares dependent on performance criteria for the nine months ended September 30, 2024 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2024 176,364 $ 32.40 Granted during 2024 4,705 31.36 Vested during 2024 (1) ( 45,592 ) 31.36 Forfeited during 2024 — — Balance, September 30, 2024 135,477 $ 32.71 (1) Settled in cash.
Schedule of Changes in Service-Based Restricted Stock Awards/Units	Changes in service-based restricted stock awards/units for the nine months ended September 30, 2024 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2024 626,742 $ 29.62 Granted during 2024 — — Vested during 2024 (1) ( 248,028 ) 27.83 Shares to be settled in cash ( 120,046 ) 22.13 Forfeited during 2024 ( 6,647 ) 31.98 Balance, September 30, 2024 252,021 $ 29.81 (1) Includes 100,349 shares that settled in cash.
Schedule of Calculation of Basic and Diluted Earnings per Share	The following is a reconciliation of the calculation of basic and diluted earnings per share. Basic net income per share is calculated by dividing net income available to shareholders by the weighted average shares outstanding during the reporting period. Diluted net income per share is computed similarly to that of basic net income per share, except that the denominator is increased to include the number of additional shares that would have been outstanding utilizing the Treasury Stock Method if all shares underlying potentially dilutive stock options were issued and all shares of restricted stock, stock warrants or restricted stock units were to vest during the reporting period. Three Months Ended Nine Months Ended September 30, September 30, (Dollars in thousands, except per share data) 2024 2023 2024 2023 Net income available to common shareholders $ 7,587 $ 8,755 $ 23,748 $ 40,255 Basic weighted average shares outstanding 17,616,046 17,856,961 17,691,309 17,876,316 Plus: common stock equivalents 83,996 153,166 55,251 215,208 Diluted weighted average shares outstanding 17,700,042 18,010,127 17,746,560 18,091,524 Net income per share Basic $ 0.43 $ 0.49 $ 1.34 $ 2.25 Diluted 0.43 0.49 1.34 2.23

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 and December 31, 2023 follows: September 30, 2024 Gross Gross Allowance Amortized Unrealized Unrealized for Fair (In thousands) Cost Gains Losses Credit Losses Value Securities Available for Sale: U.S government-sponsored agencies $ 244,808 $ — $ ( 39,795 ) $ — $ 205,013 Mortgage-backed securities–residential 476,695 2,845 ( 37,458 ) — 442,082 SBA pool securities 24,291 — ( 2,878 ) — 21,413 Corporate bond 15,500 29 ( 1,324 ) — 14,205 Total securities available for sale $ 761,294 $ 2,874 $ ( 81,455 ) $ — $ 682,713 Securities Held to Maturity: U.S. government-sponsored agencies $ 40,000 $ — $ ( 2,302 ) $ — $ 37,698 Mortgage-backed securities–residential 63,158 — ( 8,418 ) — 54,740 Total securities held to maturity $ 103,158 $ — $ ( 10,720 ) $ — $ 92,438 December 31, 2023 Gross Gross Allowance Amortized Unrealized Unrealized for Fair (In thousands) Cost Gains Losses Credit Losses Value Securities Available for Sale: U.S government-sponsored agencies $ 244,794 $ — $ ( 47,103 ) $ — $ 197,691 Mortgage-backed securities–residential 363,893 80 ( 43,177 ) — 320,796 SBA pool securities 27,148 — ( 3,744 ) — 23,404 Corporate bond 10,000 — ( 1,274 ) — 8,726 Total securities available for sale $ 645,835 $ 80 $ ( 95,298 ) $ — $ 550,617 Securities Held to Maturity: U.S. government-sponsored agencies $ 40,000 $ — $ ( 3,369 ) $ — $ 36,631 Mortgage-backed securities–residential 67,755 — ( 9,971 ) — 57,784 Total securities held to maturity $ 107,755 $ — $ ( 13,340 ) $ — $ 94,415
Schedule of Available for Sale Securities with Continuous Unrealized Losses and Approximate Fair Value of Investments	The following tables present 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 September 30, 2024 and December 31, 2023. September 30, 2024 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities Available for Sale: U.S. government-sponsored agencies $ — $ — $ 205,013 $ ( 39,795 ) $ 205,013 $ ( 39,795 ) Mortgage-backed securities residential 8,162 ( 101 ) 229,706 ( 37,357 ) 237,868 ( 37,458 ) SBA pool securities — — 21,088 ( 2,878 ) 21,088 ( 2,878 ) Corporate bond — — 8,676 ( 1,324 ) 8,676 ( 1,324 ) Total securities available for sale $ 8,162 $ ( 101 ) $ 464,483 $ ( 81,354 ) $ 472,645 $ ( 81,455 ) Securities Held to Maturity: U.S. government-sponsored agencies $ — $ — $ 37,698 $ ( 2,302 ) $ 37,698 $ ( 2,302 ) Mortgage-backed securities residential — — 54,740 ( 8,418 ) 54,740 ( 8,418 ) Total securities held to maturity $ — $ — $ 92,438 $ ( 10,720 ) $ 92,438 $ ( 10,720 ) Total securities $ 8,162 $ ( 101 ) $ 556,921 $ ( 92,074 ) $ 565,083 $ ( 92,175 ) December 31, 2023 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Securities Available for Sale: U.S. government-sponsored agencies $ — $ — $ 197,691 $ ( 47,103 ) $ 197,691 $ ( 47,103 ) Mortgage-backed securities residential 36,634 ( 963 ) 217,513 ( 42,214 ) 254,147 ( 43,177 ) SBA pool securities 655 ( 1 ) 22,749 ( 3,743 ) 23,404 ( 3,744 ) Corporate bond — — 8,726 ( 1,274 ) 8,726 ( 1,274 ) Total securities available for sale $ 37,289 $ ( 964 ) $ 446,679 $ ( 94,334 ) $ 483,968 $ ( 95,298 ) Securities Held to Maturity: U.S. government-sponsored agencies $ — $ — $ 36,631 $ ( 3,369 ) $ 36,631 $ ( 3,369 ) Mortgage-backed securities residential 9,647 ( 135 ) 48,137 ( 9,836 ) 57,784 ( 9,971 ) Total securities held to maturity $ 9,647 $ ( 135 ) $ 84,768 $ ( 13,205 ) $ 94,415 $ ( 13,340 ) Total securities $ 46,936 $ ( 1,099 ) $ 531,447 $ ( 107,539 ) $ 578,383 $ ( 108,638 )

LOANS AND LEASES (Tables)

LOANS AND LEASES (Tables)	9 Months Ended
	Sep. 30, 2024
Receivables [Abstract]
Schedule of composition of loans categorized by the type of loan	Loans outstanding, excluding those held for sale, by general ledger classification, as of September 30, 2024 and December 31, 2023, consisted of the following: % of % of September 30, Totals December 31, Total (Dollars in thousands) 2024 Loans 2023 Loans Residential mortgage $ 590,813 11.12 % $ 578,327 10.65 % Multifamily mortgage 1,784,861 33.58 1,836,390 33.82 Commercial mortgage 578,559 10.88 637,625 11.74 Commercial loans (including equipment financing) 2,221,243 41.79 2,260,524 41.64 Commercial construction 22,421 0.42 17,721 0.33 Home equity lines of credit 38,971 0.73 36,464 0.67 Consumer loans, including fixed rate home equity loans 78,160 1.47 62,036 1.14 Other loans 389 0.01 238 0.01 Total loans $ 5,315,417 100.00 % $ 5,429,325 100.00 % 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 September 30, 2024 and December 31, 2023 are based on the CECL methodology: % of % of September 30, Totals December 31, Total (Dollars in thousands) 2024 Loans 2023 Loans Primary residential mortgage $ 590,681 11.12 % $ 585,126 10.78 % Junior lien loan on residence 42,159 0.79 40,203 0.74 Multifamily property 1,784,861 33.59 1,836,390 33.85 Owner-occupied commercial real estate 269,743 5.08 255,110 4.70 Investment commercial real estate 979,188 18.43 1,061,197 19.56 Commercial and industrial 1,306,170 24.58 1,314,781 24.23 Lease financing 231,284 4.35 251,423 4.63 Construction 28,578 0.54 17,987 0.33 Consumer and other 80,795 1.52 63,906 1.18 Total loans 5,313,459 100.00 % 5,426,123 100.00 % Net deferred costs 1,958 3,202 Total loans including net deferred costs $ 5,315,417 $ 5,429,325
Schedule of recorded investment in nonaccrual and loans past due 90 days or over still on accrual	The following tables present the recorded investment in nonaccrual and loans past due 90 days or over still on accrual by class of loans as of September 30, 2024 and December 31, 2023: September 30, 2024 Nonaccrual Loans Past Due With No 90 Days or Over Allowance And Still (In thousands) for Credit Loss Nonaccrual Accruing Interest Primary residential mortgage $ 2,136 $ 2,136 $ — Junior lien loan on residence 96 96 — Multifamily property 15,294 33,337 — Investment commercial real estate — 11,715 — Commercial and industrial 3,641 29,810 — Lease financing 2,555 3,355 — Consumer and other 4 4 — Total $ 23,726 $ 80,453 $ — December 31, 2023 Nonaccrual Loans Past Due With No 90 Days or Over Allowance And Still (In thousands) for Credit Loss Nonaccrual Accruing Interest Primary residential mortgage $ 1,263 $ 1,263 $ — Junior lien loan on residence 100 100 — Multifamily property 16,645 16,645 — Investment commercial real estate 9,881 9,881 — Commercial and industrial 3,965 31,430 — Lease financing 946 2,002 — Consumer and other 3 3 — Total $ 32,803 $ 61,324 $ —
Schedule of aging of past due loans	The following tables present the aging of the recorded investment in past due loans as of September 30, 2024 and December 31, 2023 by class of loans, excluding nonaccrual loans: September 30, 2024 30-59 60-89 90 Days or Days Days Greater Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 2,170 $ 1,144 $ — $ 3,314 Junior lien loan on residence 52 — — 52 Multifamily property — 28,080 — 28,080 Total $ 2,222 $ 29,224 $ — $ 31,446 December 31, 2023 30-59 60-89 90 Days or Days Days Greater Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 2,448 $ 1,061 $ — $ 3,509 Junior lien on residence 84 — — 84 Multifamily property 11,814 — — 11,814 Commercial and industrial 7,297 11,498 — 18,795 Consumer and other 387 — — 387 Total $ 22,030 $ 12,559 $ — $ 34,589 There were several loan modifications made during the first nine months of 2024, which included one investment commercial real estate loan, one commercial loan and one equipment finance of $ 17.3 million, $ 11.7 million and $ 10.5 million, respectively, that were completed during the third quarter of 2024. Loans past due 30 through 89 days at September 30, 2024 included $ 19.7 million of multifamily loans to two sponsors. Subsequent to September 30, 2024 these loans have been placed on nonaccrual status and downgraded to substandard.
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 September 30, 2024 and December 31, 2023 based on originations for the periods indicated; the years represent the year of origination for non-revolving loans: Grade as of September 30, 2024 for Loans Originated During 2019 Revolving- (In thousands) 2024 2023 2022 2021 2020 and Prior Revolving Term Total Primary residential mortgage: Pass $ 41,801 $ 90,809 $ 110,932 $ 76,105 $ 53,790 $ 208,748 $ — $ 5,680 $ 587,865 Special mention — — — — — — — — — Substandard — 1,087 97 — 450 1,182 — — 2,816 Doubtful — — — — — — — — — Total primary residential mortgages 41,801 91,896 111,029 76,105 54,240 209,930 — 5,680 590,681 Current period gross charge-offs — 43 — — — — — — 43 Junior lien loan on residence: Pass — 819 1,188 103 — 1,080 32,410 6,463 42,063 Special mention — — — — — — — — — Substandard — — — — — — 95 1 96 Doubtful — — — — — — — — — Total junior lien loan on residence — 819 1,188 103 — 1,080 32,505 6,464 42,159 Current period gross charge-offs — — — — — — — — — Multifamily property: Pass 17,512 51,742 455,228 598,057 118,001 438,991 4,939 3,524 1,687,994 Special mention — — 3,405 28,343 — 20,962 — — 52,710 Substandard — — 13,366 — — 30,791 — — 44,157 Doubtful — — — — — — — — — Total multifamily property 17,512 51,742 471,999 626,400 118,001 490,744 4,939 3,524 1,784,861 Current period gross charge-offs — — — 2,088 — 3,291 — — 5,379 Owner-occupied commercial real estate: Pass 26,172 4,233 23,033 43,842 19,096 125,011 15,315 10,546 267,248 Special mention — — — 1,161 — 1,334 — — 2,495 Substandard — — — — — — — — — Doubtful — — — — — — — — — Total owner-occupied commercial real estate 26,172 4,233 23,033 45,003 19,096 126,345 15,315 10,546 269,743 Current period gross charge-offs — — — — — — — — — Investment commercial real estate: Pass 24,234 124,323 170,365 138,114 55,937 357,040 14,443 26,592 911,048 Special mention — — — — — 25,189 — 13,910 39,099 Substandard — — 9,786 — — 19,255 — — 29,041 Doubtful — — — — — — — — — Total investment commercial real estate 24,234 124,323 180,151 138,114 55,937 401,484 14,443 40,502 979,188 Current period gross charge-offs — — — — — — — — — Commercial and industrial: Pass 165,508 140,258 168,705 129,582 14,002 24,813 549,628 26,371 1,218,867 Special mention — 210 — 10,983 — 1,350 6,193 615 19,351 Substandard — 1,894 30,266 52 2,049 3,563 27,419 2,709 67,952 Doubtful — — — — — — — — — Total commercial and industrial 165,508 142,362 198,971 140,617 16,051 29,726 583,240 29,695 1,306,170 Current period gross charge-offs — — — — 241 — — — 241 Lease financing: Pass 31,987 45,673 41,099 53,629 28,090 27,450 — — 227,928 Special mention — — — — — — — — — Substandard — 801 — — — 2,555 — — 3,356 Doubtful — — — — — — — — — Total lease financing 31,987 46,474 41,099 53,629 28,090 30,005 — — 231,284 Grade as of September 30, 2024 for Loans Originated During 2019 Revolving- (In thousands) 2024 2023 2022 2021 2020 and Prior Revolving Term Total Current period gross charge-offs — — — — — — — — — Construction: Pass — — — — — — 28,578 — 28,578 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total commercial construction loans — — — — — — 28,578 — 28,578 Current period gross charge-offs — — — — — — — — — Consumer and other loans: Pass 29,855 3,063 — 238 129 3,678 40,947 2,881 80,791 Special mention — — — — — — — — — Substandard — — — — — — 4 — 4 Doubtful — — — — — — — — — Total consumer and other loans 29,855 3,063 — 238 129 3,678 40,951 2,881 80,795 Current period gross charge-offs — — — — — 2 — 19 21 Total: Pass 337,069 460,920 970,550 1,039,670 289,045 1,186,811 686,260 82,057 5,052,382 Special mention — 210 3,405 40,487 — 48,835 6,193 14,525 113,655 Substandard — 3,782 53,515 52 2,499 57,346 27,518 2,710 147,422 Doubtful — — — — — — — — — Total Loans $ 337,069 $ 464,912 $ 1,027,470 $ 1,080,209 $ 291,544 $ 1,292,992 $ 719,971 $ 99,292 $ 5,313,459 Total Current Period Gross Charge-offs $ — $ 43 $ — $ 2,088 $ 241 $ 3,293 $ — $ 19 $ 5,684 Grade as of December 31, 2023 for Loans Originated During 2018 Revolving- (In thousands) 2023 2022 2021 2020 2019 and Prior Revolving Term Total Primary residential mortgage: Pass $ 94,688 $ 114,532 $ 80,175 $ 56,191 $ 35,418 $ 196,251 $ — $ 5,535 $ 582,790 Special mention — — — — — — — — — Substandard — — — 473 935 928 — — 2,336 Doubtful — — — — — — — — — Total primary residential mortgages 94,688 114,532 80,175 56,664 36,353 197,179 — 5,535 585,126 Current period gross charge-offs — — — — — — — — — Junior lien loan on residence: Pass 872 1,394 135 — 530 808 29,620 6,680 40,039 Special mention — — — — — — — — — Substandard — — — — — — 163 1 164 Doubtful — — — — — — — — — Total junior lien loan on residence 872 1,394 135 — 530 808 29,783 6,681 40,203 Current period gross charge-offs — — — — — — — — — Multifamily property: Pass 52,072 476,972 645,093 119,934 209,299 295,226 8,451 — 1,807,047 Special mention — — — — — 1,650 — — 1,650 Substandard — 1,572 7,491 — 10,370 8,260 — — 27,693 Doubtful — — — — — — — — — Total multifamily property 52,072 478,544 652,584 119,934 219,669 305,136 8,451 — 1,836,390 Current period gross charge-offs — — 2,223 — — — — — 2,223 Owner-occupied commercial real estate: Pass 4,333 23,590 39,563 19,457 11,788 126,430 17,559 10,731 253,451 Special mention — — 1,197 — — — 462 — 1,659 Substandard — — — — — — — — — Doubtful — — — — — — — — — Total owner-occupied commercial real estate 4,333 23,590 40,760 19,457 11,788 126,430 18,021 10,731 255,110 Current period gross charge-offs — — — — — — — — — Investment commercial real estate: Pass 125,568 173,660 150,026 57,811 144,447 314,411 30,124 13,379 1,009,426 Special mention — — — — 21,936 3,834 — 14,172 39,942 Substandard — 9,881 — — 1,948 — — — 11,829 Doubtful — — — — — — — — — Total investment commercial real estate 125,568 183,541 150,026 57,811 168,331 318,245 30,124 27,551 1,061,197 Current period gross charge-offs — 1,199 — — — — — — 1,199 Commercial and industrial: Pass 226,699 216,864 191,389 39,003 26,570 16,845 516,844 23,687 1,257,901 Special mention — — 758 — 1,161 190 14,232 194 16,535 Substandard 1,212 22,297 1,467 1,865 953 2,524 7,571 2,456 40,345 Doubtful — — — — — — — — — Total commercial and industrial 227,911 239,161 193,614 40,868 28,684 19,559 538,647 26,337 1,314,781 Current period gross charge-offs — — — — — — — — — Lease financing: Pass 50,706 42,447 61,547 39,710 24,113 19,287 — — 237,810 Special mention — 9,631 511 — 1,375 94 — — 11,611 Substandard 1,056 — — — 946 — — — 2,002 Doubtful — — — — — — — — — Grade as of December 31, 2023 for Loans Originated During 2018 Revolving- (In thousands) 2023 2022 2021 2020 2019 and Prior Revolving Term Total Total lease financing 51,762 52,078 62,058 39,710 26,434 19,381 — — 251,423 Current period gross charge-offs — 4,800 — — — 794 — — 5,594 Construction: Pass — — — — — — 17,987 — 17,987 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Total commercial construction loans — — — — — — 17,987 — 17,987 Current period gross charge-offs — — — — — — — — — Consumer and other loans: Pass 3,934 — 301 158 — 4,141 51,788 3,581 63,903 Special mention — — — — — — — — — Substandard — — — — — — 3 — 3 Doubtful — — — — — — — — — Total consumer and other loans 3,934 — 301 158 — 4,141 51,791 3,581 63,906 Current period gross charge-offs — — — — — — 139 — 139 Total: Pass 558,872 1,049,459 1,168,229 332,264 452,165 973,399 672,373 63,593 5,270,354 Special mention — 9,631 2,466 — 24,472 5,768 14,694 14,366 71,397 Substandard 2,268 33,750 8,958 2,338 15,152 11,712 7,737 2,457 84,372 Doubtful — — — — — — — — — Total Loans $ 561,140 $ 1,092,840 $ 1,179,653 $ 334,602 $ 491,789 $ 990,879 $ 694,804 $ 80,416 $ 5,426,123 Total Current Period Gross Charge-offs $ — $ 5,999 $ 2,223 $ — $ — $ 794 $ 139 $ — $ 9,155
Summary of Information Related to Modification	The following table provides information related to the modifications during the three months ended September 30, 2024 by pool segment and type of concession granted: Significant Payment Delay Three Months Ended September 30, 2024 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Primary residential mortgage $ 542 0.09 % Investment commercial real estate 17,326 1.77 % Commercial and industrial 68 0.01 % Total $ 17,936 1.87 % Significant Payment Delay and Term Extension Three Months Ended September 30, 2024 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Commercial and industrial $ 10,521 0.81 % Total $ 10,521 0.81 % The following tables provide information related to the modifications during the nine months ended September 30, 2024 by pool segment and type of concession granted: Interest Rate Reduction and Term Extension Nine Months Ended September 30, 2024 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Commercial and industrial $ 12,169 0.93 % Total $ 12,169 0.93 % Significant Payment Delay Nine Months Ended September 30, 2024 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Primary residential mortgage $ 542 0.09 % Investment commercial real estate 17,326 1.77 % Commercial and industrial 11,780 0.90 % Total $ 29,648 2.76 % Significant Payment Delay and Term Extension Nine Months Ended September 30, 2024 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Commercial and industrial $ 10,521 0.81 % Total $ 10,521 0.81 % There were no modifications during the three months ended September 30, 2023. The following tables provide information related to the modifications during the nine months ended September 30, 2023 by pool segment and type of concession granted: Significant Pay Delay Nine Months Ended September 30, 2023 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Commercial and industrial $ 248 0.02 % Total $ 248 0.02 % Interest Rate Reduction Nine Months Ended September 30, 2023 % of Total Amortized Class of Cost Basis Financing (Dollars in thousands) at Period End Receivable Commercial and industrial $ 3,077 0.23 % Total $ 3,077 0.23 %
Schedule of Loan Modifications, Subsequent Default, By Payment Status	The following table depicts the payment status of the loans that were modified to a borrower experiencing financial difficulties on or after January 1, 2023, the date we adopted ASU 2022-02, through September 30, 2024: Payment Status at September 30, 2024 30-89 Days 90+ Days (Dollars in thousands) Current Past Due Past Due Primary residential mortgage $ 542 $ 118 $ — Investment commercial real estate 17,326 — — Commercial and industrial 34,470 2,799 248 Total $ 52,338 $ 2,917 $ 248
Schedule of Loan modifications resulted in payment default	The following table presents loans by class modified that failed to comply with the modified terms in the twelve months following modification and resulted in a payment default at September 30, 2024: Amortized Cost Basis of Modified Loans That Subsequently Defaulted Nine Months Ended September 30, 2024 Significant Interest (Dollars in thousands) Pay Delay Rate Reduction Primary residential mortgage $ 118 $ — Total $ 118 $ — The following table presents loans by class modified that failed to comply with the modified terms in the twelve months following modification and resulted in a payment default at September 30, 2023: Amortized Cost Basis of Modified Loans That Subsequently Defaulted Nine Months Ended September 30, 2023 Significant Interest (Dollars in thousands) Pay Delay Rate Reduction Commercial and industrial $ 248 $ — Total $ 248 $ —

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	9 Months Ended
	Sep. 30, 2024
Credit Loss [Abstract]
Schedule of loan balances by segment and the corresponding balances in the allowance for loan losses	The following tables present the loan balances by segment, and the corresponding balances in the allowance as of September 30, 2024 and December 31, 2023. The allowance was based on the CECL methodology. September 30, 2024 Ending ACL Attributable Ending 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 $ 1,658 $ — $ 589,023 $ 4,411 $ 590,681 $ 4,411 Junior lien loan on residence 96 — 42,063 200 42,159 200 Multifamily property 33,337 2,242 1,751,524 10,539 1,784,861 12,781 Owner-occupied commercial real estate — — 269,743 4,909 269,743 4,909 Investment commercial real estate 11,715 745 967,473 13,411 979,188 14,156 Commercial and industrial 29,810 6,501 1,276,360 24,808 1,306,170 31,309 Lease financing 3,356 197 227,928 1,524 231,284 1,721 Construction — — 28,578 770 28,578 770 Consumer and other loans — — 80,795 1,026 80,795 1,026 Total ACL $ 79,972 $ 9,685 $ 5,233,487 $ 61,598 $ 5,313,459 $ 71,283 December 31, 2023 Ending ACL Attributable Ending 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 $ 652 $ — $ 584,474 $ 3,931 $ 585,126 $ 3,931 Junior lien loan on residence 100 — 40,103 177 40,203 177 Multifamily property 16,645 — 1,819,745 8,782 1,836,390 8,782 Owner-occupied commercial real estate — — 255,110 4,840 255,110 4,840 Investment commercial real estate 9,881 — 1,051,316 15,403 1,061,197 15,403 Commercial and industrial 31,430 4,518 1,283,351 25,189 1,314,781 29,707 Lease financing 2,002 20 249,421 1,643 251,423 1,663 Construction — — 17,987 516 17,987 516 Consumer and other loans — — 63,906 869 63,906 869 Total ACL $ 60,710 $ 4,538 $ 5,365,413 $ 61,350 $ 5,426,123 $ 65,888
Schedule of loans individually evaluated by segment	The following tables present collateral dependent loans individually evaluated by segment as of September 30, 2024 and December 31, 2023: September 30, 2024 Average Unpaid Individually Principal Recorded Related Evaluated (In thousands) Balance Investment (A) Allowance Loans With no related allowance recorded: Primary residential mortgage (A) $ 1,754 $ 1,658 $ — $ 1,539 Junior lien loan on residence (A) 99 96 — 103 Multifamily property (B) 15,320 15,295 — 17,526 Commercial and industrial (A)(C)(D) 3,902 2,733 — 3,798 Lease financing (E) 2,671 2,555 — 1,662 Total loans with no related allowance $ 23,746 $ 22,337 $ — $ 24,628 With related allowance recorded: Multifamily property (B) $ 18,138 $ 18,042 $ 2,242 $ 10,090 Investment commercial real estate (D) 14,430 11,715 745 10,684 Commercial and industrial (A)(C)(D)(E) 29,513 27,077 6,501 22,184 Lease financing (E) 841 801 197 889 Total loans with related allowance $ 62,922 $ 57,635 $ 9,685 $ 43,847 Total loans individually evaluated $ 86,668 $ 79,972 $ 9,685 $ 68,475 (A) Secured by residential real estate. (B) Secured by multifamily residential properties. (C) Secured by commercial real estate. (D) Secured by all business assets. (E) Secured by machinery and equipment. December 31, 2023 Average Unpaid Individually Principal Recorded Related Evaluated (In thousands) Balance Investment Allowance Loans With no related allowance recorded: Primary residential mortgage (A) $ 712 $ 652 $ — $ 428 Junior lien loan on residence (A) 100 100 — 8 Multifamily property (B) 18,868 16,645 — 5,964 Investment commercial real estate (C) 12,500 9,881 — 5,781 Commercial and industrial (A)(C)(D) 6,275 3,965 — 2,146 Lease financing (E) 1,035 946 — 2,067 Total loans with no related allowance $ 39,490 $ 32,189 $ — $ 16,394 With related allowance recorded: Commercial and industrial (C)(D)(E) $ 28,359 $ 27,465 $ 4,518 $ 9,814 Lease financing (E) 1,079 1,056 20 1,611 Total loans with related allowance $ 29,438 $ 28,521 $ 4,538 $ 11,425 Total loans individually evaluated for impairment $ 68,928 $ 60,710 $ 4,538 $ 27,819 (A) Secured by residential real estate. (B) Secured by multifamily residential properties. (C) Secured by commercial real estate. (D) Secured by all business assets. (E) Secured by machinery and equipment.
Schedule of Activity in Allowance for Loan and Losses	The activity in the allowance for credit losses for the three months ended September 30, 2024 and September 30, 2023 is summarized below: July 1, September 30, 2024 2024 Beginning Provision Ending (In thousands) ACL Charge-offs Recoveries (Credit) (A) ACL Primary residential mortgage $ 4,191 $ ( 43 ) $ — $ 263 $ 4,411 Junior lien loan on residence 187 — — 13 200 Multifamily property 12,601 — — 180 12,781 Owner-occupied commercial real estate 4,712 — — 197 4,909 Investment commercial real estate 14,452 — — ( 296 ) 14,156 Commercial and industrial 28,568 — 2,115 626 31,309 Lease financing 1,690 — 4 27 1,721 Construction 655 — — 115 770 Consumer and other loans 928 ( 4 ) — 102 1,026 Total ACL $ 67,984 $ ( 47 ) $ 2,119 $ 1,227 $ 71,283 (A) Provision to roll forward the ACL excludes a credit of $ 3,000 for off-balance sheet commitments. July 1, September 30, 2023 2023 Beginning Provision Ending (In thousands) ACL Charge-offs Recoveries (Credit) (A) ACL Primary residential mortgage $ 3,148 $ — $ — $ 115 $ 3,263 Junior lien loan on residence 151 — — 3 154 Multifamily property 10,537 — — 45 10,582 Owner-occupied commercial real estate 4,708 — — ( 46 ) 4,662 Investment commercial real estate 13,548 — — ( 23 ) 13,525 Commercial and industrial 27,433 — — 4,701 32,134 Lease financing 2,063 — — 904 2,967 Construction 421 — — 131 552 Consumer and other loans 695 ( 57 ) 1 114 753 Total ACL $ 62,704 $ ( 57 ) $ 1 $ 5,944 $ 68,592 (A) Provision to roll forward the ACL excludes a provision of $ 88,000 for off-balance sheet commitments. January 1, September 30, 2024 2024 Beginning Provision Ending (In thousands) ACL Charge-offs Recoveries (Credit) (A) ACL Primary residential mortgage $ 3,931 $ ( 43 ) $ — $ 523 $ 4,411 Junior lien loan on residence 177 — — 23 200 Multifamily property 8,782 ( 5,379 ) — 9,378 12,781 Owner-occupied commercial real estate 4,840 — — 69 4,909 Investment commercial real estate 15,403 — — ( 1,247 ) 14,156 Commercial and industrial 29,707 ( 241 ) 2,120 ( 277 ) 31,309 Lease financing 1,663 — 3,214 ( 3,156 ) 1,721 Construction 516 — — 254 770 Consumer and other loans 869 ( 21 ) 2 176 1,026 Total ACL $ 65,888 $ ( 5,684 ) $ 5,336 $ 5,743 $ 71,283 (A) Provision to roll forward the ACL excludes a provision of $ 19,000 for off-balance sheet commitments. January 1, September 30, 2023 2023 Beginning Provision Ending (In thousands) ACL Charge-offs Recoveries (Credit) (A) ACL Primary residential mortgage $ 2,894 $ — $ — $ 369 $ 3,263 Junior lien loan on residence 154 — — — 154 Multifamily property 8,849 — — 1,733 10,582 Owner-occupied commercial real estate 4,835 — — ( 173 ) 4,662 Investment commercial real estate 15,480 ( 1,199 ) — ( 756 ) 13,525 Commercial and industrial 25,530 — — 6,604 32,134 Lease financing 2,314 — — 653 2,967 Construction 236 — — 316 552 Consumer and other loans 537 ( 118 ) 6 328 753 Total ACL $ 60,829 $ ( 1,317 ) $ 6 $ 9,074 $ 68,592 (A) Provision to roll forward the ACL excludes a credit of $ 9,000 for off-balance sheet commitments.
Schedule of Activity in ACL for Off Balance Sheet Commitments	The following tables present the activity in the ACL for off-balance sheet commitments for the nine months ended September 30, 2024 and 2023: January 1, 2024 September 30, Beginning Provision 2024 (In thousands) ACL (Credit) Ending ACL Off balance sheet commitments $ 687 $ 19 $ 706 Total ACL $ 687 $ 19 $ 706 January 1, 2023 September 30, Beginning Provision 2023 (In thousands) ACL (Credit) Ending ACL Off balance sheet commitments $ 752 $ ( 9 ) $ 743 Total ACL $ 752 $ ( 9 ) $ 743

DEPOSITS (Tables)

DEPOSITS (Tables)	9 Months Ended
	Sep. 30, 2024
Deposits [Abstract]
Schedule of Details of Total Deposits	The following table sets forth the details of total deposits as of September 30, 2024 and December 31, 2023: September 30, December 31, 2024 2023 (Dollars in thousands) Noninterest-bearing demand deposits $ 1,079,877 18.19 % $ 957,687 18.16 % Interest-bearing checking (A) 3,316,217 55.87 2,882,193 54.65 Savings 103,979 1.75 111,573 2.12 Money market 902,562 15.21 740,559 14.04 Certificates of deposit - retail 515,297 8.68 443,791 8.41 Certificates of deposit - listing service 7,454 0.13 7,804 0.15 Subtotal deposits 5,925,386 99.83 5,143,607 97.53 Interest-bearing demand - Brokered 10,000 0.17 10,000 0.19 Certificates of deposit - Brokered — — 120,507 2.28 Total deposits $ 5,935,386 100.00 % $ 5,274,114 100.00 % (A) Interest-bearing checking includes $ 1.4 billion at September 30, 2024 and $ 990.7 million at December 31, 2023 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program.
Scheduled Maturities of Time Deposits	The scheduled maturities of certificates of deposit, including brokered certificates of deposit, as of September 30, 2024, are as follows: (In thousands) 2024 $ 158,997 2025 337,013 2026 24,070 2027 1,240 2028 871 2029 and later 560 Total $ 522,751

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Income and Total Assets for Reportable Segments	The following tables present the statements of income and total assets for the Company’s reportable segments for the three and nine months ended September 30, 2024 and 2023. Three Months Ended September 30, 2024 Peapack (In thousands) Banking Private Total Net interest income $ 37,077 $ 604 $ 37,681 Noninterest income 3,604 15,334 18,938 Total income 40,681 15,938 56,619 Provision for credit losses 1,224 — 1,224 Compensation and benefits 23,988 7,062 31,050 Premises and equipment expense 4,794 839 5,633 FDIC expense 870 — 870 Other operating expense 5,013 2,083 7,096 Total operating expense 35,889 9,984 45,873 Income before income tax expense 4,792 5,954 10,746 Income tax expense 1,404 1,755 3,159 Net income $ 3,388 $ 4,199 $ 7,587 Three Months Ended September 30, 2023 Peapack (In thousands) Banking Private Total Net interest income $ 35,811 $ 704 $ 36,515 Noninterest income 5,120 14,234 19,354 Total income 40,931 14,938 55,869 Provision for credit losses 5,856 — 5,856 Compensation and employee benefits 18,440 6,824 25,264 Premises and equipment expense 4,436 778 5,214 FDIC insurance expense 741 — 741 Other operating expense 4,188 2,006 6,194 Total operating expense 33,661 9,608 43,269 Income before income tax expense 7,270 5,330 12,600 Income tax expense 2,275 1,570 3,845 Net income $ 4,995 $ 3,760 $ 8,755 Nine Months Ended September 30, 2024 Peapack (In thousands) Banking Private Total Net interest income $ 105,299 $ 1,799 $ 107,098 Noninterest income 12,616 46,578 59,194 Total income 117,915 48,377 166,292 Provision for credit losses 5,762 — 5,762 Compensation and employee benefits 67,585 21,825 89,410 Premises and equipment expense 14,214 2,276 16,490 FDIC insurance expense 2,685 — 2,685 Other operating expense 13,231 6,000 19,231 Total operating expense 103,477 30,101 133,578 Income before income tax expense 14,438 18,276 32,714 Income tax expense 3,958 5,008 8,966 Net income $ 10,480 $ 13,268 $ 23,748 Total assets at period end $ 6,663,410 $ 130,382 $ 6,793,792 Nine Months Ended September 30, 2023 Peapack (In thousands) Banking Private Total Net interest income $ 116,004 $ 3,410 $ 119,414 Noninterest income 13,027 42,961 55,988 Total income 129,031 46,371 175,402 Provision for credit losses 9,065 — 9,065 Compensation and employee benefits 54,558 21,646 76,204 Premises and equipment expense 12,072 2,245 14,317 FDIC insurance expense 2,181 — 2,181 Other operating expense 11,317 6,660 17,977 Total operating expense 89,193 30,551 119,744 Income before income tax expense 39,838 15,820 55,658 Income tax expense 11,021 4,382 15,403 Net income $ 28,817 $ 11,438 $ 40,255 Total assets at period end $ 6,405,796 $ 115,785 $ 6,521,581

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2024
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: Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Significant Markets For Other Significant Identical Observable Unobservable September 30, Assets Inputs Inputs (In thousands) 2024 (Level 1) (Level 2) (Level 3) Assets: Available for sale: U.S. government-sponsored agencies $ 205,013 $ — $ 205,013 $ — Mortgage-backed securities-residential 442,082 — 442,082 — SBA pool securities 21,413 — 21,413 — Corporate bond 14,205 — 14,205 — CRA investment fund 13,445 13,445 — — Derivatives: Cash flow hedges 3,970 — 3,970 — Loan level swaps 14,297 — 14,297 — Total $ 714,425 $ 13,445 $ 700,980 $ — Liabilities: Derivatives: Cash flow hedges 109 — 109 — Loan level swaps 14,297 — 14,297 — Total $ 14,406 $ — $ 14,406 $ — Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Significant Markets For Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs (In thousands) 2023 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: U.S. government-sponsored agencies $ 197,691 $ — $ 197,691 $ — Mortgage-backed securities-residential 320,796 — 320,796 — SBA pool securities 23,404 — 23,404 — Corporate bond 8,726 — 8,726 — CRA investment fund 13,166 13,166 — — Derivatives: Cash flow hedges 6,814 — 6,814 — Loan level swaps 23,826 — 23,826 — Total $ 594,423 $ 13,166 $ 581,257 $ — Liabilities: Derivatives: Loan level swaps $ 23,826 $ — $ 23,826 $ — Total $ 23,826 $ — $ 23,826 $ —
Schedule of Residential Loans Held for Sale	The following table presents residential loans held for sale, at fair value, at the dates indicated: (In thousands) September 30, 2024 December 31, 2023 Residential loans contractual balance $ 554 $ 98 Fair value adjustment 7 2 Total fair value of residential loans held for sale $ 561 $ 100
Schedule of Assets Measured at Fair Value on Non-Recurring Basis	The following tables summarize, at the dates indicated, assets measured at fair value on a non-recurring basis: Fair Value Measurements Using Quoted Prices in Active Significant Markets For Other Significant Identical Observable Unobservable September 30, Assets Inputs Inputs (In thousands) 2024 (Level 1) (Level 2) (Level 3) Assets: Individually evaluated loans: Multifamily property $ 15,800 $ — $ — $ 15,800 Investment commercial real estate 10,970 — — 10,970 Commercial and industrial 20,575 — — 20,575 Lease financing 604 — — 604 Fair Value Measurements Using Quoted Prices in Active Significant Markets For Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs (In thousands) 2023 (Level 1) (Level 2) (Level 3) Assets: Individually evaluated loans: Commercial and industrial $ 22,947 $ — $ — $ 22,947 Lease financing 1,035 — — 1,035
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments	The carrying amounts and estimated fair values of financial instruments at September 30, 2024 are as follows: Fair Value Measurements at September 30, 2024 using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 492,658 $ 492,658 $ — $ — $ 492,658 Securities available for sale 682,713 — 682,713 — 682,713 Securities held to maturity 103,158 — 92,438 — 92,438 CRA investment fund 13,445 13,445 — — 13,445 FHLB and FRB stock 12,459 — — — N/A Loans held for sale, at fair value 561 — 561 — 561 Loans held for sale, at lower of cost or fair value 4,189 — 4,540 — 4,540 Loans, net of allowance for credit losses 5,244,134 — — 5,075,349 5,075,349 Accrued interest receivable 31,973 — 3,112 28,861 31,973 Accrued interest receivable loan level swaps (A) 1,159 — 1,159 — 1,159 Cash flow hedges 3,970 — 3,970 — 3,970 Loan level swaps 14,297 — 14,297 — 14,297 Financial liabilities Deposits $ 5,935,386 $ 5,412,635 $ 521,577 $ — $ 5,934,212 Subordinated debt 133,489 — — 120,402 120,402 Accrued interest payable 10,252 7,046 2,142 1,064 10,252 Accrued interest payable loan level swaps (B) 1,159 — 1,159 — 1,159 Cash flow hedges 109 — 109 — 109 Loan level swap 14,297 — 14,297 — 14,297 (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, 2023 are as follows: Fair Value Measurements at December 31, 2023 using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 187,671 $ 187,671 $ — $ — $ 187,671 Securities available for sale 550,617 — 550,617 — 550,617 Securities held to maturity 107,755 — 94,415 — 94,415 CRA investment fund 13,166 13,166 — — 13,166 FHLB and FRB stock 31,044 — — — N/A Loans held for sale, at fair value 100 — 100 — 100 Loans held for sale, at lower of cost or fair value 6,695 — 7,201 — 7,201 Loans, net of allowance for loan and lease losses 5,363,437 — — 5,294,942 5,294,942 Accrued interest receivable 30,676 — 2,868 27,808 30,676 Accrued interest receivable loan level swaps (A) 1,373 — 1,373 — 1,373 Cash flow hedges 6,814 — 6,814 — 6,814 Loan level swaps 23,826 — 23,826 — 23,826 Financial liabilities Deposits $ 5,274,114 $ 4,702,012 $ 567,696 $ — $ 5,269,708 Short-term borrowings 403,814 — 403,814 — 403,814 Subordinated debt 133,274 — — 111,924 111,924 Accrued interest payable 7,115 4,989 1,968 158 7,115 Accrued interest payable loan level swaps (B) 1,373 — 1,373 — 1,373 Loan level swaps 23,826 — 23,826 — 23,826 (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)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Noninterest Income	The following tables present the sources of noninterest income for the periods indicated: For the Three Months Ended September 30, (In thousands) 2024 2023 Service charges on deposits Overdraft fees $ 123 $ 129 Interchange income 256 283 Other 948 907 Wealth management fees (A) 15,150 13,975 Corporate advisory fee income 55 85 Other (B) 2,406 3,975 Total noninterest other income $ 18,938 $ 19,354 For the Nine Months Ended September 30, (In thousands) 2024 2023 Service charges on deposits Overdraft fees $ 345 $ 392 Interchange income 761 903 Other 2,888 2,602 Wealth management fees (A) 45,976 41,989 Loss on sale of property ( 4 ) — Corporate advisory fee income 976 180 Other (B) 8,252 9,922 Total noninterest other income $ 59,194 $ 55,988 (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 periods indicated: For the Three Months Ended For the Three Months Ended 2024 2023 (In thousands) Wealth Wealth Revenue by Operating Segment Banking Management Total Banking Management Total Service charges on deposits Overdraft fees $ 123 $ — $ 123 $ 129 $ — $ 129 Interchange income 256 — 256 283 — 283 Other 948 — 948 907 — 907 Wealth management fees (A) — 15,150 15,150 — 13,975 13,975 Corporate advisory fee income 55 — 55 85 — 85 Other (B) 2,222 184 2,406 3,716 259 3,975 Total noninterest income $ 3,604 $ 15,334 $ 18,938 $ 5,120 $ 14,234 $ 19,354 For the Nine Months Ended For the Nine Months Ended (In thousands) 2024 2023 Revenue by Operating Wealth Wealth Segment Banking Management Total Banking Management Total Service charges on deposits Overdraft fees $ 345 $ — $ 345 $ 392 $ — $ 392 Interchange income 761 — 761 903 — 903 Other 2,888 — 2,888 2,602 — 2,602 Wealth management fees (A) — 45,976 45,976 — 41,989 41,989 Loss on sale of property ( 4 ) — ( 4 ) — — — Corporate advisory fee income 976 — 976 180 — 180 Other (B) 7,650 602 8,252 8,950 972 9,922 Total noninterest income $ 12,616 $ 46,578 $ 59,194 $ 13,027 $ 42,961 $ 55,988 (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)	9 Months Ended
	Sep. 30, 2024
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 periods indicated: Three Months Ended Nine Months Ended September 30, September 30, (In thousands) 2024 2023 2024 2023 Professional and legal fees $ 2,014 $ 1,619 $ 5,069 $ 4,143 Trust department expense 1,064 977 2,938 2,856 Telephone 390 407 1,182 1,138 Advertising 340 482 1,308 1,584 Amortization of intangible assets 272 339 816 1,048 Branch/office restructure — — — 175 Other operating expenses 3,016 2,370 7,918 7,033 Total other operating expenses $ 7,096 $ 6,194 $ 19,231 $ 17,977

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	9 Months Ended
	Sep. 30, 2024
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 three months ended September 30, 2024 and 2023: Other Comprehensive Other Income/(Loss) Comprehensive Three Months Balance at Income/(Loss) Ended Balance at July 1, Before September 30, September 30, (In thousands) 2024 Reclassifications 2024 2024 Net unrealized holding gain/(loss) on $ ( 75,188 ) $ 17,574 $ 17,574 $ ( 57,614 ) Gain/(loss) on cash flow hedges 6,846 ( 4,052 ) ( 4,052 ) 2,794 Accumulated other comprehensive gain/(loss), $ ( 68,342 ) $ 13,522 $ 13,522 $ ( 54,820 ) Other Comprehensive Other Income/(Loss) Comprehensive Three Months Balance at Income/(Loss) Ended Balance at July 1, Before September 30, September 30, (In thousands) 2023 Reclassifications 2023 2023 Net unrealized holding gain/(loss) on $ ( 76,047 ) $ ( 14,987 ) $ ( 14,987 ) $ ( 91,034 ) Gain/(loss) on cash flow hedges 8,050 1,331 1,331 9,381 Accumulated other comprehensive gain/(loss), $ ( 67,997 ) $ ( 13,656 ) $ ( 13,656 ) $ ( 81,653 ) The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the nine months ended September 30, 2024 and 2023: Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Nine Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive September 30, September 30, (In thousands) 2024 Reclassifications Income/(Loss) 2024 2024 Net unrealized holding gain/(loss) on $ ( 69,809 ) $ 12,195 $ — $ 12,195 $ ( 57,614 ) Gain/(loss) on cash flow hedges 4,931 ( 2,137 ) — ( 2,137 ) 2,794 Accumulated other comprehensive $ ( 64,878 ) $ 10,058 $ — $ 10,058 $ ( 54,820 ) Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Nine Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive September 30, September 30, (In thousands) 2023 Reclassifications Income/(Loss) 2023 2023 Net unrealized holding gain/(loss) on $ ( 80,972 ) $ ( 10,062 ) $ — $ ( 10,062 ) $ ( 91,034 ) Gain/(loss) on cash flow hedges 6,761 2,680 ( 60 ) 2,620 9,381 Accumulated other comprehensive $ ( 74,211 ) $ ( 7,382 ) $ ( 60 ) $ ( 7,442 ) $ ( 81,653 )
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income/(loss)	The following represents the reclassifications out of accumulated other comprehensive income/(loss) for the nine months ended September 30, 2024 and 2023: Nine Months Ended September 30, (In thousands) 2024 2023 Affected Line Item in Income Unrealized gains/(losses) on cash Reclassification adjustment for amounts $ — $ ( 84 ) Interest Expense Tax effect — 24 Income tax expense Total reclassifications, net of tax $ — $ ( 60 )

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 and December 31, 2023: (Dollars in thousands) September 30, December 31, Notional amount $ 360,000 $ 310,000 Weighted average pay rate 2.29 % 2.22 % Weighted average receive rate 4.20 % 4.14 % Weighted average maturity 2.60 years 2.98 years Unrealized gain/(loss), net $ 3,861 $ 6,814 Number of contracts 14 12
Schedule of Cash Flow Hedges Included in Financial Statements	September 30, 2024 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing deposits $ 360,000 $ 3,861 Total included in other assets $ 335,000 3,970 Total included in other liabilities $ 25,000 ( 109 ) December 31, 2023 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing deposits $ 310,000 $ 6,814 Total included in other assets 310,000 6,814 Total included in other liabilities — — Cash Flow Hedges The following table presents the net gains/(losses) recorded in accumulated other comprehensive income/(loss) and the consolidated financial statements relating to the cash flow derivative instruments for the three month and nine months ended September 30, 2024 and 2023: For the Three Months Ended For the Nine Months Ended September 30, (In thousands) 2024 2023 2024 2023 Interest rate contracts Gain/(loss) recognized in other comprehensive income (effective portion) $ ( 5,600 ) $ 1,861 $ ( 2,953 ) $ 3,904 Gain/(loss) recognized in other noninterest income — — — ( 84 ) Net interest income recorded on these swap transactions totaled $ 1.5 million and $ 4.5 million for the three and nine months ended September 30, 2024, respectively . Net interest income recorded on these swap transactions totaled $ 1.5 million and $ 3.5 million for the three and nine months ended September 30, 2023, respectively. Net interest income/expense for these swap transactions is reported as a component of interest expense. 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 $ 1.2 million and $ 1.4 million at September 30, 2024 and December 31, 2023, respectively, is recorded in other assets and other liabilities. Information about these swaps is as follows: (Dollars in thousands) September 30, December 31, Notional amount $ 466,777 $ 545,983 Fair value $ ( 13,138 ) $ ( 22,452 ) Weighted average pay rates 3.91 % 3.95 % Weighted average receive rates 6.90 % 7.09 % Weighted average maturity 3.64 years 3.93 years Number of contracts 60 71
Schedule of Net Gains/(Losses) Recorded in Accumulated Other Comprehensive Income/(Loss)	The following table presents the net gains/(losses) recorded in accumulated other comprehensive income/(loss) and the consolidated financial statements relating to the cash flow derivative instruments for the three month and nine months ended September 30, 2024 and 2023: For the Three Months Ended For the Nine Months Ended September 30, (In thousands) 2024 2023 2024 2023 Interest rate contracts Gain/(loss) recognized in other comprehensive income (effective portion) $ ( 5,600 ) $ 1,861 $ ( 2,953 ) $ 3,904 Gain/(loss) recognized in other noninterest income — — — ( 84 )
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) September 30, December 31, Notional amount $ 466,777 $ 545,983 Fair value $ ( 13,138 ) $ ( 22,452 ) Weighted average pay rates 3.91 % 3.95 % Weighted average receive rates 6.90 % 7.09 % Weighted average maturity 3.64 years 3.93 years Number of contracts 60 71

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024: (In thousands) 2024 1,282 2025 6,162 2026 6,173 2027 5,839 2028 5,659 Thereafter 30,195 Total lease payments 55,310 Less: imputed interest 10,535 Total present value of lease payments $ 44,775
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 periods indicated: For the Nine Months Ended September 30, (In thousands) 2024 2023 Right-of-use asset obtained in exchange for lease obligation $ 32,483 $ 1,926 Operating cash flows from operating leases 3,108 2,184 Operating cash flows from direct finance leases 74 149 Financing cash flows from direct finance leases 308 561

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($) shares	Sep. 30, 2024 USD ($) Segment shares	Sep. 30, 2023 USD ($) shares	Dec. 31, 2026 shares	Dec. 31, 2025 shares	Jun. 30, 2024 USD ($)	Apr. 30, 2024 shares	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Net increase to retained earnings | $	$ 415,186,000		$ 415,186,000						$ 394,094,000
Reduction to allowance for credit losses | $	(71,283,000)	$ (68,592,000)	$ (71,283,000)	$ (68,592,000)			$ (67,984,000)		(65,888,000)	$ (62,704,000)	$ (60,829,000)
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 | $	$ 157,000,000		$ 157,000,000						162,900,000
Threshold period for loan			30 days
Threshold for determining nonaccrual status	90 days		90 days
Settled in cash			100,349
Stock options granted	0		0
Unrecognized compensation cost | $	$ 0		$ 0
Issuance of shares for Employee Stock Purchase Plan, shares	11,257	8,850	27,016	26,491
Antidilutive securities	125,152	235,902	277,141	416,712
Phantom Plan
Summary Of Significant Accounting Policies [Line Items]
Stock options granted			262,811
2024 ESPP
Summary Of Significant Accounting Policies [Line Items]
Number of share purchase rights authorized								150,000
Restricted stock [Member]
Summary Of Significant Accounting Policies [Line Items]
Settled in cash			(120,046)
Shares granted			0
Compensation cost | $	$ 3,400,000	$ 2,300,000	$ 9,300,000	$ 8,600,000
Restricted stock [Member] | Tranche One [Member]
Summary Of Significant Accounting Policies [Line Items]
Stock option vesting term			3 years
Restricted stock [Member] | Tranche Two [Member]
Summary Of Significant Accounting Policies [Line Items]
Stock option vesting term			5 years
Performance Shares [Member]
Summary Of Significant Accounting Policies [Line Items]
Shares granted			4,705
Performance Shares [Member] | Phantom Plan
Summary Of Significant Accounting Policies [Line Items]
Shares granted			110,047
Performance Shares [Member] | 2021 Long-Term Stock Incentive Plan
Summary Of Significant Accounting Policies [Line Items]
Shares granted			0
Restricted Stock Units [Member]
Summary Of Significant Accounting Policies [Line Items]
Unrecognized compensation cost | $	7,800,000		$ 7,800,000
Weighted average period over which unrecognized compensation is expected to be recognized (in years)			1 year 25 days
Restricted Stock Units [Member] | Forecast Member
Summary Of Significant Accounting Policies [Line Items]
Settled in cash					120,046	120,046
Restricted Stock Units [Member] | 2021 Long-Term Stock Incentive Plan
Summary Of Significant Accounting Policies [Line Items]
Shares granted			0
Employee Stock [Member]
Summary Of Significant Accounting Policies [Line Items]
Compensation cost | $	56,000	34,000	$ 131,000	140,000
Percentage of closing market price on purchase date			85%
Phantom Units
Summary Of Significant Accounting Policies [Line Items]
Unrecognized compensation cost | $	8,600,000		$ 8,600,000
Consumer and Other [Member]
Summary Of Significant Accounting Policies [Line Items]
Reduction to allowance for credit losses | $	$ (1,026,000)	$ (753,000)	$ (1,026,000)	$ (753,000)			$ (928,000)		(869,000)	$ (695,000)	$ (537,000)
Consumer and Other [Member] | Closed-end Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Threshold for determining nonaccrual status	120 days		120 days
Consumer and Other [Member] | Open-end Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Threshold for determining nonaccrual status	180 days		180 days
Small Business Administration Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Loans held for sale | $	$ 4,500,000		$ 4,500,000						$ 7,200,000
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash equivalents original maturities period			90 days
Short term borrowings original maturities period			90 days
Finite-Lived Intangible Asset, Useful Life	15 years		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%
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years		5 years
Minimum [Member] | Employee Stock [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of compensation contributable			1%
Peapack-Gladstone Mortgage Group, Inc. [Member] | Peapack Ventures, LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned	99%		99%
Peapack-Gladstone Mortgage Group, Inc. [Member] | Peapack-Gladstone Realty, Inc [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned	79%		79%
PGB Trust & Investments of Delaware [Member] | Peapack Ventures, LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned	1%		1%
Peapack Ventures, LLC [Member] | Peapack-Gladstone Realty, Inc [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned	21%		21%

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Changes in Options Outstanding) (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Number of Options
Balance | shares	1,400
Expired | shares	(1,400)
Weighted Average Exercise Price
Balance | $ / shares	$ 19.15
Expired | $ / shares	$ 19.15

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Changes in Restricted Common Shares) (Details)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Number of Shares
Shares to be settled in cash	100,349
Performance Shares [Member]
Number of Shares
Balance at Beginning	176,364
Shares granted	4,705
Vested	(45,592)	[1]
Forfeited	0
Balance at end	135,477
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 32.4
Granted | $ / shares	31.36
Vested | $ / shares	31.36	[2]
Forfeited | $ / shares	0
Balance at end | $ / shares	$ 32.71
Restricted stock [Member]
Number of Shares
Balance at Beginning	626,742
Shares granted	0
Vested	(248,028)	[2]
Shares to be settled in cash	(120,046)
Forfeited	(6,647)
Balance at end	252,021
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 29.62
Granted | $ / shares	0
Vested | $ / shares	27.83	[2]
Shares to be settled in cash | $ / shares	22.13
Forfeited | $ / shares	31.98
Balance at end | $ / shares	$ 29.81
[1] Settled in cash. Includes 100,349 shares that settled in cash.

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Schedule of Changes in Restricted Common Shares) (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2024 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Settled in cash	100,349
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Settled in cash	(120,046)

SUMMARY OF SIGNIFICANT ACCOUN_8

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Net income available to common shareholders	$ 7,587	$ 8,755	$ 23,748	$ 40,255
Basic weighted average shares outstanding	17,616,046	17,856,961	17,691,309	17,876,316
Plus: common stock equivalents	83,996	153,166	55,251	215,208
Diluted weighted average shares outstanding	17,700,042	18,010,127	17,746,560	18,091,524
Net income per share
Basic	$ 0.43	$ 0.49	$ 1.34	$ 2.25
Diluted	$ 0.43	$ 0.49	$ 1.34	$ 2.23

INVESTMENT SECURITIES (Schedule

INVESTMENT SECURITIES (Schedule of Amortized Cost and Approximate Fair Value of Securities Available for Sale) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Securities Available for Sale:
Amortized Cost	$ 761,294	$ 645,835
Gross Unrealized Gains	2,874	80
Gross Unrealized Losses	(81,455)	(95,298)
Fair Value	682,713	550,617
Securities Held to Maturity:
Amortized Cost	103,158	107,755
Gross Unrealized Losses	(10,720)	(13,340)
Fair Value	92,438	94,415
U.S. Government-Sponsored Agencies [Member]
Securities Available for Sale:
Amortized Cost	244,808	244,794
Gross Unrealized Losses	(39,795)	(47,103)
Fair Value	205,013	197,691
Securities Held to Maturity:
Amortized Cost	40,000	40,000
Gross Unrealized Losses	(2,302)	(3,369)
Fair Value	37,698	36,631
Mortgage-Backed Securities-Residential [Member]
Securities Available for Sale:
Amortized Cost	476,695	363,893
Gross Unrealized Gains	2,845	80
Gross Unrealized Losses	(37,458)	(43,177)
Fair Value	442,082	320,796
Securities Held to Maturity:
Amortized Cost	63,158	67,755
Gross Unrealized Losses	(8,418)	(9,971)
Fair Value	54,740	57,784
SBA Pool Securities [Member]
Securities Available for Sale:
Amortized Cost	24,291	27,148
Gross Unrealized Gains		0
Gross Unrealized Losses	(2,878)	(3,744)
Fair Value	21,413	23,404
Corporate Bond [Member]
Securities Available for Sale:
Amortized Cost	15,500	10,000
Gross Unrealized Gains	29
Gross Unrealized Losses	(1,324)	(1,274)
Fair Value	$ 14,205	$ 8,726

INVESTMENT SECURITIES (Schedu_2

INVESTMENT SECURITIES (Schedule of Available for Sale Securities in Continuous Unrealized Loss Position and Approximate Fair Value of Investments) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Available for Sale Securities, Fair Value
Less Than 12 Months	$ 8,162	$ 37,289
12 Months or Longer	464,483	446,679
Total	472,645	483,968
Available for Sale Securities, Unrealized Losses
Less Than 12 Months	(101)	(964)
12 Months or Longer	(81,354)	(94,334)
Total	(81,455)	(95,298)
Held to Maturity Securities, Fair Value
Less Than 12 Months		9,647
12 Months or Longer	92,438	84,768
Total	92,438	94,415
Held to Maturity Securities, Unrealized Losses
Less Than 12 Months		(135)
12 Months or Longer	(10,720)	(13,205)
Total	(10,720)	(13,340)
Approximate Fair Value
Fair Value, Less than 12 months	8,162	46,936
Fair Value, 12 months or longer	556,921	531,447
Fair Value	565,083	578,383
Unrealized Losses
Unrealized Losses, Less than 12 months	(101)	(1,099)
Unrealized Losses, 12 months or longer	(92,074)	(107,539)
Unrealized Losses	(92,175)	(108,638)
U.S. Government-Sponsored Agencies [Member]
Available for Sale Securities, Fair Value
12 Months or Longer	205,013	197,691
Total	205,013	197,691
Available for Sale Securities, Unrealized Losses
12 Months or Longer	(39,795)	(47,103)
Total	(39,795)	(47,103)
Held to Maturity Securities, Fair Value
12 Months or Longer	37,698	36,631
Total	37,698	36,631
Held to Maturity Securities, Unrealized Losses
12 Months or Longer	(2,302)	(3,369)
Total	(2,302)	(3,369)
Mortgage-Backed Securities-Residential [Member]
Available for Sale Securities, Fair Value
Less Than 12 Months	8,162	36,634
12 Months or Longer	229,706	217,513
Total	237,868	254,147
Available for Sale Securities, Unrealized Losses
Less Than 12 Months	(101)	(963)
12 Months or Longer	(37,357)	(42,214)
Total	(37,458)	(43,177)
Held to Maturity Securities, Fair Value
Less Than 12 Months		9,647
12 Months or Longer	54,740	48,137
Total	54,740	57,784
Held to Maturity Securities, Unrealized Losses
Less Than 12 Months		(135)
12 Months or Longer	(8,418)	(9,836)
Total	(8,418)	(9,971)
SBA Pool Securities [Member]
Available for Sale Securities, Fair Value
Less Than 12 Months		655
12 Months or Longer	21,088	22,749
Total	21,088	23,404
Available for Sale Securities, Unrealized Losses
Less Than 12 Months		(1)
12 Months or Longer	(2,878)	(3,743)
Total	(2,878)	(3,744)
Corporate Bond [Member]
Available for Sale Securities, Fair Value
12 Months or Longer	8,676	8,726
Total	8,676	8,726
Available for Sale Securities, Unrealized Losses
12 Months or Longer	(1,324)	(1,274)
Total	$ (1,324)	$ (1,274)

INVESTMENT SECURITIES - Additio

INVESTMENT SECURITIES - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]
Investment with fair value classified as equity security	$ 13,445,000		$ 13,445,000		$ 13,166,000
Fair value adjustment for CRA equity security	474,000	$ (404,000)	279,000	$ (404,000)
CRA Investment Fund [Member]
Schedule Of Available For Sale Securities [Line Items]
Investment with fair value classified as equity security	13,400,000		13,400,000
Fair value adjustment for CRA equity security	$ 474,000		$ 279,000

LOANS AND LEASES (Schedule of L

LOANS AND LEASES (Schedule of Loans Outstanding, by Type of Loan) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Total loans	$ 5,315,417	$ 5,429,325
Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	100%	100%
Unallocated Financing Receivables [Member]
Total loans	$ 389	$ 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	$ 590,813	$ 578,327
Primary Residential Mortgage [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	11.12%	10.65%
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans	$ 1,784,861	$ 1,836,390
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	33.58%	33.82%
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 578,559	$ 637,625
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	10.88%	11.74%
Commercial Loans Including Equipment Financing [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 2,221,243	$ 2,260,524
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)	41.79%	41.64%
Construction [Member] | Commercial Portfolio Segment [Member]
Total loans	$ 22,421	$ 17,721
Construction [Member] | Commercial Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	0.42%	0.33%
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans	$ 38,971	$ 36,464
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	0.73%	0.67%
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other Loans [Member]
Total loans	$ 78,160	$ 62,036
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)	1.47%	1.14%

LOANS AND LEASES (Schedule of_2

LOANS AND LEASES (Schedule of Loan Balances by Pool Segment and Portfolio Class) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Total loans	$ 5,313,459	$ 5,426,123
Total loans including net deferred costs	$ 5,315,417	$ 5,429,325
Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	100%	100%
Current Expected Credit Loss Methodology [Member]
Total loans	$ 5,313,459	$ 5,426,123
Net deferred costs	1,958	3,202
Total loans including net deferred costs	5,315,417	5,429,325
Construction [Member]
Total loans	28,578	17,987
Construction [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 28,578	$ 17,987
Construction [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.54%	0.33%
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	$ 590,681	$ 585,126
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 590,681	$ 585,126
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)	11.12%	10.78%
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	$ 1,784,861	$ 1,836,390
Total loans including net deferred costs	1,784,861	1,836,390
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 1,784,861	$ 1,836,390
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)	33.59%	33.85%
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total loans including net deferred costs	$ 38,971	$ 36,464
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	42,159	40,203
Residential Portfolio Segment [Member] | Junior Lien [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 42,159	$ 40,203
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)	0.79%	0.74%
Commercial Real Estate Portfolio Segment [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 269,743	$ 255,110
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)	5.08%	4.70%
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Total loans	$ 269,743	$ 255,110
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans	979,188	1,061,197
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 979,188	$ 1,061,197
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)	18.43%	19.56%
Commercial Portfolio Segment [Member] | Construction [Member]
Total loans	$ 28,578	$ 17,987
Total loans including net deferred costs	22,421	17,721
Consumer and Other [Member]
Total loans	80,795	63,906
Consumer and Other [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 80,795	$ 63,906
Consumer and Other [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	1.52%	1.18%
Commercial and Industrial [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 1,306,170	$ 1,314,781
Commercial and Industrial [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	24.58%	24.23%
Commercial and Industrial [Member] | Commercial Portfolio Segment [Member]
Total loans	$ 1,306,170	$ 1,314,781
Lease Financing [Member]
Total loans	231,284	251,423
Lease Financing [Member] | Current Expected Credit Loss Methodology [Member]
Total loans	$ 231,284	$ 251,423
Lease Financing [Member] | Current Expected Credit Loss Methodology [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	4.35%	4.63%

LOANS AND LEASES (Schedule of R

LOANS AND LEASES (Schedule of Recorded Investment in Nonaccrual and Loans Past Due 90 Days or Over Still On Accrual) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Total loans	$ 23,726	$ 32,803
Impaired non-accrual loans	80,453	61,324
Loans Past Due 90 Days or Over And Still Accruing Interest	0	0
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	96	100
Impaired non-accrual loans	96	100
Loans Past Due 90 Days or Over And Still Accruing Interest	0	0
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	2,136	1,263
Impaired non-accrual loans	2,136	1,263
Loans Past Due 90 Days or Over And Still Accruing Interest	0	0
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	15,294	16,645
Impaired non-accrual loans	33,337	16,645
Loans Past Due 90 Days or Over And Still Accruing Interest	0	0
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans	0	9,881
Impaired non-accrual loans	11,715	9,881
Loans Past Due 90 Days or Over And Still Accruing Interest	0	0
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total loans	3,641	3,965
Impaired non-accrual loans	29,810	31,430
Loans Past Due 90 Days or Over And Still Accruing Interest	0	0
Commercial Portfolio Segment [Member] | Lease Financing [Member]
Total loans	2,555	946
Impaired non-accrual loans	3,355	2,002
Loans Past Due 90 Days or Over And Still Accruing Interest	0	0
Consumer and Other [Member]
Total loans	4	3
Impaired non-accrual loans	4	3
Loans Past Due 90 Days or Over And Still Accruing Interest	$ 0	$ 0

LOANS AND LEASES (Schedule of A

LOANS AND LEASES (Schedule of Aging of Past Due Loans) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Total loans	$ 5,313,459	$ 5,426,123
Lease Financing [Member]
Total loans	231,284	251,423
Residential Portfolio Segment [Member] | Junior Lien Loan on Residence [Member]
Total loans	42,159	40,203
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	590,681	585,126
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	1,784,861	1,836,390
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans	979,188	1,061,197
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total loans	1,306,170	1,314,781
Consumer and Other [Member]
Total loans	80,795	63,906
30 to 59 Days Past Due [Member]
Total loans	2,222	22,030
30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Junior Lien Loan on Residence [Member]
Total loans	52	84
30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	2,170	2,448
30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans		11,814
30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total loans		7,297
30 to 59 Days Past Due [Member] | Consumer and Other [Member]
Total loans		387
60 to 89 Days Past Due [Member]
Total loans	29,224	12,559
60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	1,144	1,061
60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	28,080
60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total loans		11,498
90 Days or Greater Past Due [Member]
Total loans	0	0
90 Days or Greater Past Due [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	0	0
Total Past Due [Member]
Total loans	31,446	34,589
Total Past Due [Member] | Residential Portfolio Segment [Member] | Junior Lien Loan on Residence [Member]
Total loans	52	84
Total Past Due [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	3,314	3,509
Total Past Due [Member] | Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	$ 28,080	11,814
Total Past Due [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Total loans		18,795
Total Past Due [Member] | Consumer and Other [Member]
Total loans		$ 387

LOANS AND LEASES - Additional I

LOANS AND LEASES - Additional Information (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Loan	Dec. 31, 2023 USD ($)
Financing Receivable Recorded Investment Past Due [Line Items]
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 federal reserve board 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
Allowance for credit losses, recorded investment nonaccrual status		80,453,000	$ 61,324,000
Financial receivable modifications	$ 0
Multifamily Property [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Financing receivable individually evaluated loan		$ 15,100,000
Number of multifamily loans | Loan		2
Equipment Financing Lease [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Number of loans modified | Loan		1
Financing receivable modified in period amount		$ 10,500,000
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Number of loans modified | Loan		1
Financing receivable modified in period amount		$ 17,300,000
Commercial Portfolio Segment [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Number of loans modified | Loan		1
Financing receivable modified in period amount		$ 11,700,000
Substandard [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Financing receivable individually evaluated loan		80,000,000	$ 60,600,000
Substandard [Member] | Multifamily Property [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Financing receivable increase in individually evaluated substandard loans		$ 31,800,000
Number of multifamily loans | Loan		6
Substandard [Member] | 30-89 Days Past Due [Member] | Multifamily Property [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Allowance for credit losses, recorded investment nonaccrual status		$ 19,700,000
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

LOANS AND LEASES (Summary of Cr

LOANS AND LEASES (Summary of Credit Risk Profile of Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
2024/2023	$ 337,069		$ 337,069		$ 561,140
2023/2022	464,912		464,912		1,092,840
2022/2021	1,027,470		1,027,470		1,179,653
2021/2020	1,080,209		1,080,209		334,602
2020/2019	291,544		291,544		491,789
2019/2018 and Prior	1,292,992		1,292,992		990,879
Revolving	719,971		719,971		694,804
Revolving-Term	99,292		99,292		80,416
Total loans	5,313,459		5,313,459		5,426,123
2021, Current period gross charge-offs					2,223
2023/2022, Current period gross charge-offs			43		5,999
Total, Current period gross charge-offs	47	$ 57	5,684	$ 1,317
2021, Current Period Charge-offs			2,088
2020, Current Period Charge-offs			241
2019 and Prior, current period gross charge-offs			3,293		794
Revolving, Current period gross charge-offs					139
Revolving term gross charge-offs	19		19
Total Current Period Charge-offs			5,684		9,155
Pass [Member]
2024/2023	337,069		337,069		558,872
2023/2022	460,920		460,920		1,049,459
2022/2021	970,550		970,550		1,168,229
2021/2020	1,039,670		1,039,670		332,264
2020/2019	289,045		289,045		452,165
2019/2018 and Prior	1,186,811		1,186,811		973,399
Revolving	686,260		686,260		672,373
Revolving-Term	82,057		82,057		63,593
Total loans	5,052,382		5,052,382		5,270,354
Special Mention [Member]
2023/2022	210		210		9,631
2022/2021	3,405		3,405		2,466
2021/2020	40,487		40,487
2020/2019					24,472
2019/2018 and Prior	48,835		48,835		5,768
Revolving	6,193		6,193		14,694
Revolving-Term	14,525		14,525		14,366
Total loans	113,655		113,655		71,397
Substandard [Member]
2024/2023					2,268
2023/2022	3,782		3,782		33,750
2022/2021	53,515		53,515		8,958
2021/2020	52		52		2,338
2020/2019	2,499		2,499		15,152
2019/2018 and Prior	57,346		57,346		11,712
Revolving	27,518		27,518		7,737
Revolving-Term	2,710		2,710		2,457
Total loans	147,422		147,422		84,372
Lease Financing [Member]
2024/2023	31,987		31,987		51,762
2023/2022	46,474		46,474		52,078
2022/2021	41,099		41,099		62,058
2021/2020	53,629		53,629		39,710
2020/2019	28,090		28,090		26,434
2019/2018 and Prior	30,005		30,005		19,381
Total loans	231,284		231,284		251,423
2023/2022, Current period gross charge-offs					4,800
2019 and Prior, current period gross charge-offs					794
Total Current Period Charge-offs					5,594
Lease Financing [Member] | Pass [Member]
2024/2023	31,987		31,987		50,706
2023/2022	45,673		45,673		42,447
2022/2021	41,099		41,099		61,547
2021/2020	53,629		53,629		39,710
2020/2019	28,090		28,090		24,113
2019/2018 and Prior	27,450		27,450		19,287
Total loans	227,928		227,928		237,810
Lease Financing [Member] | Special Mention [Member]
2023/2022					9,631
2022/2021					511
2020/2019					1,375
2019/2018 and Prior					94
Total loans					11,611
Lease Financing [Member] | Substandard [Member]
2024/2023					1,056
2023/2022	801		801
2020/2019					946
2019/2018 and Prior	2,555		2,555
Total loans	3,356		3,356		2,002
Construction [Member]
Total loans	28,578		28,578		17,987
Residential Portfolio Segment [Member] | Junior Lien [Member]
2024/2023					872
2023/2022	819		819		1,394
2022/2021	1,188		1,188		135
2021/2020	103		103
2020/2019					530
2019/2018 and Prior	1,080		1,080		808
Revolving	32,505		32,505		29,783
Revolving-Term	6,464		6,464		6,681
Total loans	42,159		42,159		40,203
Residential Portfolio Segment [Member] | Junior Lien [Member] | Pass [Member]
2024/2023					872
2023/2022	819		819		1,394
2022/2021	1,188		1,188		135
2021/2020	103		103
2020/2019					530
2019/2018 and Prior	1,080		1,080		808
Revolving	32,410		32,410		29,620
Revolving-Term	6,463		6,463		6,680
Total loans	42,063		42,063		40,039
Residential Portfolio Segment [Member] | Junior Lien [Member] | Substandard [Member]
Revolving	95		95		163
Revolving-Term	1		1		1
Total loans	96		96		164
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
2024/2023	41,801		41,801		94,688
2023/2022	91,896		91,896		114,532
2022/2021	111,029		111,029		80,175
2021/2020	76,105		76,105		56,664
2020/2019	54,240		54,240		36,353
2019/2018 and Prior	209,930		209,930		197,179
Revolving-Term	5,680		5,680		5,535
Total loans	590,681		590,681		585,126
2023/2022, Current period gross charge-offs			43
Total, Current period gross charge-offs	43		43
Total Current Period Charge-offs			43
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Pass [Member]
2024/2023	41,801		41,801		94,688
2023/2022	90,809		90,809		114,532
2022/2021	110,932		110,932		80,175
2021/2020	76,105		76,105		56,191
2020/2019	53,790		53,790		35,418
2019/2018 and Prior	208,748		208,748		196,251
Revolving-Term	5,680		5,680		5,535
Total loans	587,865		587,865		582,790
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Substandard [Member]
2023/2022	1,087		1,087
2022/2021	97		97
2021/2020					473
2020/2019	450		450		935
2019/2018 and Prior	1,182		1,182		928
Total loans	2,816		2,816		2,336
Residential Portfolio Segment [Member] | Multifamily Property [Member]
2024/2023	17,512		17,512		52,072
2023/2022	51,742		51,742		478,544
2022/2021	471,999		471,999		652,584
2021/2020	626,400		626,400		119,934
2020/2019	118,001		118,001		219,669
2019/2018 and Prior	490,744		490,744		305,136
Revolving	4,939		4,939		8,451
Revolving-Term	3,524		3,524
Total loans	1,784,861		1,784,861		1,836,390
2021, Current period gross charge-offs					2,223
Total, Current period gross charge-offs			5,379
2021, Current Period Charge-offs			2,088
2019 and Prior, current period gross charge-offs			3,291
Total Current Period Charge-offs			5,379		2,223
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Pass [Member]
2024/2023	17,512		17,512		52,072
2023/2022	51,742		51,742		476,972
2022/2021	455,228		455,228		645,093
2021/2020	598,057		598,057		119,934
2020/2019	118,001		118,001		209,299
2019/2018 and Prior	438,991		438,991		295,226
Revolving	4,939		4,939		8,451
Revolving-Term	3,524		3,524
Total loans	1,687,994		1,687,994		1,807,047
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Special Mention [Member]
2022/2021	3,405		3,405
2021/2020	28,343		28,343
2019/2018 and Prior	20,962		20,962		1,650
Total loans	52,710		52,710		1,650
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Substandard [Member]
2023/2022					1,572
2022/2021	13,366		13,366		7,491
2020/2019					10,370
2019/2018 and Prior	30,791		30,791		8,260
Total loans	44,157		44,157		27,693
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
2024/2023	26,172		26,172		4,333
2023/2022	4,233		4,233		23,590
2022/2021	23,033		23,033		40,760
2021/2020	45,003		45,003		19,457
2020/2019	19,096		19,096		11,788
2019/2018 and Prior	126,345		126,345		126,430
Revolving	15,315		15,315		18,021
Revolving-Term	10,546		10,546		10,731
Total loans	269,743		269,743		255,110
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member] | Pass [Member]
2024/2023	26,172		26,172		4,333
2023/2022	4,233		4,233		23,590
2022/2021	23,033		23,033		39,563
2021/2020	43,842		43,842		19,457
2020/2019	19,096		19,096		11,788
2019/2018 and Prior	125,011		125,011		126,430
Revolving	15,315		15,315		17,559
Revolving-Term	10,546		10,546		10,731
Total loans	267,248		267,248		253,451
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member] | Special Mention [Member]
2022/2021					1,197
2021/2020	1,161		1,161
2019/2018 and Prior	1,334		1,334
Revolving					462
Total loans	2,495		2,495		1,659
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
2024/2023	24,234		24,234		125,568
2023/2022	124,323		124,323		183,541
2022/2021	180,151		180,151		150,026
2021/2020	138,114		138,114		57,811
2020/2019	55,937		55,937		168,331
2019/2018 and Prior	401,484		401,484		318,245
Revolving	14,443		14,443		30,124
Revolving-Term	40,502		40,502		27,551
Total loans	979,188		979,188		1,061,197
2023/2022, Current period gross charge-offs					1,199
Total, Current period gross charge-offs				1,199
Total Current Period Charge-offs					1,199
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Pass [Member]
2024/2023	24,234		24,234		125,568
2023/2022	124,323		124,323		173,660
2022/2021	170,365		170,365		150,026
2021/2020	138,114		138,114		57,811
2020/2019	55,937		55,937		144,447
2019/2018 and Prior	357,040		357,040		314,411
Revolving	14,443		14,443		30,124
Revolving-Term	26,592		26,592		13,379
Total loans	911,048		911,048		1,009,426
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Special Mention [Member]
2020/2019					21,936
2019/2018 and Prior	25,189		25,189		3,834
Revolving-Term	13,910		13,910		14,172
Total loans	39,099		39,099		39,942
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Substandard [Member]
2023/2022					9,881
2022/2021	9,786		9,786
2020/2019					1,948
2019/2018 and Prior	19,255		19,255
Total loans	29,041		29,041		11,829
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
2024/2023	165,508		165,508		227,911
2023/2022	142,362		142,362		239,161
2022/2021	198,971		198,971		193,614
2021/2020	140,617		140,617		40,868
2020/2019	16,051		16,051		28,684
2019/2018 and Prior	29,726		29,726		19,559
Revolving	583,240		583,240		538,647
Revolving-Term	29,695		29,695		26,337
Total loans	1,306,170		1,306,170		1,314,781
Total, Current period gross charge-offs			241
2020, Current Period Charge-offs			241
Total Current Period Charge-offs			241
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member]
2024/2023	165,508		165,508		226,699
2023/2022	140,258		140,258		216,864
2022/2021	168,705		168,705		191,389
2021/2020	129,582		129,582		39,003
2020/2019	14,002		14,002		26,570
2019/2018 and Prior	24,813		24,813		16,845
Revolving	549,628		549,628		516,844
Revolving-Term	26,371		26,371		23,687
Total loans	1,218,867		1,218,867		1,257,901
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Special Mention [Member]
2023/2022	210		210
2022/2021					758
2021/2020	10,983		10,983
2020/2019					1,161
2019/2018 and Prior	1,350		1,350		190
Revolving	6,193		6,193		14,232
Revolving-Term	615		615		194
Total loans	19,351		19,351		16,535
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Substandard [Member]
2024/2023					1,212
2023/2022	1,894		1,894		22,297
2022/2021	30,266		30,266		1,467
2021/2020	52		52		1,865
2020/2019	2,049		2,049		953
2019/2018 and Prior	3,563		3,563		2,524
Revolving	27,419		27,419		7,571
Revolving-Term	2,709		2,709		2,456
Total loans	67,952		67,952		40,345
Commercial Portfolio Segment [Member] | Construction [Member]
Revolving	28,578		28,578		17,987
Total loans	28,578		28,578		17,987
Commercial Portfolio Segment [Member] | Construction [Member] | Pass [Member]
Revolving	28,578		28,578		17,987
Total loans	28,578		28,578		17,987
Consumer and Other [Member]
2024/2023	29,855		29,855		3,934
2023/2022	3,063		3,063
2022/2021					301
2021/2020	238		238		158
2020/2019	129		129
2019/2018 and Prior	3,678		3,678		4,141
Revolving	40,951		40,951		51,791
Revolving-Term	2,881		2,881		3,581
Total loans	80,795		80,795		63,906
Total, Current period gross charge-offs	4	$ 57	21	$ 118
2019 and Prior, current period gross charge-offs			2
Revolving, Current period gross charge-offs					139
Revolving term gross charge-offs	19		19
Total Current Period Charge-offs			21		139
Consumer and Other [Member] | Pass [Member]
2024/2023	29,855		29,855		3,934
2023/2022	3,063		3,063
2022/2021					301
2021/2020	238		238		158
2020/2019	129		129
2019/2018 and Prior	3,678		3,678		4,141
Revolving	40,947		40,947		51,788
Revolving-Term	2,881		2,881		3,581
Total loans	80,791		80,791		63,903
Consumer and Other [Member] | Substandard [Member]
Revolving	4		4		3
Total loans	$ 4		$ 4		$ 3

LOANS AND LEASES (Summary of In

LOANS AND LEASES (Summary of Information Related to Modification) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Amortized Cost Basis at Period End		$ 0
Significant Payment Delay [Member]
Amortized Cost Basis at Period End	$ 17,936,000		$ 29,648,000	$ 248,000
% of Total Class of Financing Receivable	1.87%		2.76%	0.02%
Significant Payment Delay and Term Extension [Member]
Amortized Cost Basis at Period End	$ 10,521,000		$ 10,521,000
% of Total Class of Financing Receivable	0.81%		0.81%
Interest Rate Reduction [Member]
Amortized Cost Basis at Period End				$ 3,077,000
% of Total Class of Financing Receivable				0.23%
Contractual Interest Rate and Reduction Term Extension [Member]
Amortized Cost Basis at Period End			$ 12,169,000
% of Total Class of Financing Receivable			0.93%
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Significant Payment Delay [Member]
Amortized Cost Basis at Period End	$ 542,000		$ 542,000
% of Total Class of Financing Receivable	0.09%		0.09%
Investment Property [Member] | Commercial Portfolio Segment [Member] | Significant Payment Delay [Member]
Amortized Cost Basis at Period End	$ 17,326,000		$ 17,326,000
% of Total Class of Financing Receivable	1.77%		1.77%
Commercial and Industrial [Member] | Commercial Portfolio Segment [Member] | Significant Payment Delay [Member]
Amortized Cost Basis at Period End	$ 68,000		$ 11,780,000	$ 248,000
% of Total Class of Financing Receivable	0.01%		0.90%	0.02%
Commercial and Industrial [Member] | Commercial Portfolio Segment [Member] | Significant Payment Delay and Term Extension [Member]
Amortized Cost Basis at Period End	$ 10,521,000		$ 10,521,000
% of Total Class of Financing Receivable	0.81%		0.81%
Commercial and Industrial [Member] | Commercial Portfolio Segment [Member] | Interest Rate Reduction [Member]
Amortized Cost Basis at Period End				$ 3,077,000
% of Total Class of Financing Receivable				0.23%
Commercial and Industrial [Member] | Commercial Portfolio Segment [Member] | Contractual Interest Rate and Reduction Term Extension [Member]
Amortized Cost Basis at Period End			$ 12,169,000
% of Total Class of Financing Receivable			0.93%

LOANS AND LEASES - (Schedule of

LOANS AND LEASES - (Schedule of Loans Modifications as Subsequent Default, By Payment Status (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Current [Member]
Loans modified	$ 52,338
30-89 Days Past Due [Member]
Loans modified	2,917
90 Days or Greater Past Due [Member]
Loans modified	248
Commercial and Industrial [Member] | Consumer Loan [Member] | Current [Member]
Loans modified	34,470
Commercial and Industrial [Member] | Consumer Loan [Member] | 30-89 Days Past Due [Member]
Loans modified	2,799
Commercial and Industrial [Member] | Consumer Loan [Member] | 90 Days or Greater Past Due [Member]
Loans modified	248
Primary Residential Mortgages [Member] | Consumer Loan [Member] | Current [Member]
Loans modified	542
Primary Residential Mortgages [Member] | Consumer Loan [Member] | 30-89 Days Past Due [Member]
Loans modified	118
Investment Property [Member] | Consumer Loan [Member] | Current [Member]
Loans modified	$ 17,326

LOANS AND LEASES (Schedule of_3

LOANS AND LEASES (Schedule of Loans Modifications Resulted in Payment Default (Details) - Significant Payment Delay [Member] - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Amortized Cost Basis of Modified Loans That Subsequently Defaulted	$ 118	$ 248
Commercial and Industrial [Member] | Commercial Portfolio Segment [Member]
Amortized Cost Basis of Modified Loans That Subsequently Defaulted		$ 248
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Amortized Cost Basis of Modified Loans That Subsequently Defaulted	$ 118

ALLOWANCE FOR CREDIT LOSSES - A

ALLOWANCE FOR CREDIT LOSSES - Additional Information (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable Recorded Investment Past Due [Line Items]
Accrued interest receivable	$ 31,973,000		$ 30,676,000
Individually evaluated include Nonaccrual loans	80,000,000		60,600,000
Individually evaluated non accrual loans performing modified loans		$ 0
Allowance allocated to modified loans	229,000
Allowance for credit losses	$ 71,283,000	$ 67,984,000	$ 65,888,000	$ 68,592,000	$ 62,704,000	$ 60,829,000
Allowance for credit losses, percentage of loans	1.34%		1.21%
Multifamily Property [Member] | Maximum [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Allowance for credit losses, due to specific reserves	$ 33,300,000
Multifamily Property [Member] | Minimum [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Allowance for credit losses, due to specific reserves	16,700,000
Loans [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Accrued interest receivable	$ 28,900,000		$ 27,800,000

ALLOWANCE FOR CREDIT LOSSES (Sc

ALLOWANCE FOR CREDIT LOSSES (Schedule of Balances by Segment) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	$ 79,972		$ 60,710
Ending ACL Attributable to Loans Individually Evaluated for Impairment	9,685		4,538
Total Loans Collectively Evaluated for Impairment	5,233,487		5,365,413
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	61,598		61,350
Total Loans	5,313,459		5,426,123
Total Ending ACL	71,283	$ 67,984	65,888	$ 68,592	$ 62,704	$ 60,829
Lease Financing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	3,356		2,002
Ending ACL Attributable to Loans Individually Evaluated for Impairment	197		20
Total Loans Collectively Evaluated for Impairment	227,928		249,421
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	1,524		1,643
Total Loans	231,284		251,423
Total Ending ACL	1,721		1,663
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	29,810		31,430
Ending ACL Attributable to Loans Individually Evaluated for Impairment	6,501		4,518
Total Loans Collectively Evaluated for Impairment	1,276,360		1,283,351
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	24,808		25,189
Total Loans	1,306,170		1,314,781
Total Ending ACL	31,309	28,568	29,707	32,134	27,433	25,530
Consumer and Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Collectively Evaluated for Impairment	80,795		63,906
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	1,026		869
Total Loans	80,795		63,906
Total Ending ACL	1,026	928	869	753	695	537
Junior Lien [Member] | Residential Portfolio Segment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	96		100
Total Loans Collectively Evaluated for Impairment	42,063		40,103
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	200		177
Total Loans	42,159		40,203
Total Ending ACL	200	187	177	154	151	154
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	1,658		652
Total Loans Collectively Evaluated for Impairment	589,023		584,474
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	4,411		3,931
Total Loans	590,681		585,126
Total Ending ACL	4,411	4,191	3,931	3,263	3,148	2,894
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	33,337		16,645
Ending ACL Attributable to Loans Individually Evaluated for Impairment	2,242
Total Loans Collectively Evaluated for Impairment	1,751,524		1,819,745
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	10,539		8,782
Total Loans	1,784,861		1,836,390
Total Ending ACL	12,781	12,601	8,782	10,582	10,537	8,849
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Collectively Evaluated for Impairment	269,743		255,110
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	4,909		4,840
Total Loans	269,743		255,110
Total Ending ACL	4,909	4,712	4,840	4,662	4,708	4,835
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Individually Evaluated for Impairment	11,715		9,881
Ending ACL Attributable to Loans Individually Evaluated for Impairment	745
Total Loans Collectively Evaluated for Impairment	967,473		1,051,316
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	13,411		15,403
Total Loans	979,188		1,061,197
Total Ending ACL	14,156	14,452	15,403	13,525	13,548	15,480
Construction [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans Collectively Evaluated for Impairment	28,578		17,987
Ending ACL Attributable to Loans Collectively Evaluated for Impairment	770		516
Total Loans	28,578		17,987
Total Ending ACL	770		516
Construction [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Ending ACL	770	$ 655	516	$ 552	$ 421	$ 236
Construction [Member] | Commercial Portfolio Segment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Total Loans	$ 28,578		$ 17,987

ALLOWANCE FOR CREDIT LOSSES (_2

ALLOWANCE FOR CREDIT LOSSES (Schedule of Loans Individually Evaluated by Segment) (Details) - USD ($) $ in Thousands		9 Months Ended		12 Months Ended
		Sep. 30, 2024		Dec. 31, 2023
Unpaid Principal Balance
With no related allowance recorded		$ 23,746		$ 39,490
With related allowance recorded:		62,922		29,438
Total loans individually evaluated for impairment		86,668		68,928
Recorded Investment
With no related allowance recorded		22,337	[1]	32,189
With related allowance recorded:		57,635	[1]	28,521
Total loans individually evaluated for impairment		79,972	[1]	60,710
Related Allowance		9,685		4,538
Average Individually Evaluated Loans
With no related allowance recorded		24,628		16,394
With related allowance recorded:		43,847		11,425
Total loans individually evaluated for impairment		68,475		27,819
Lease Financing [Member]
Unpaid Principal Balance
With no related allowance recorded	[2]	2,671		1,035
With related allowance recorded:	[2]	841		1,079
Recorded Investment
With no related allowance recorded		2,555	[1],[3]	946	[2]
With related allowance recorded:		801	[1],[3]	1,056	[2]
Related Allowance		197	[3]	20	[2]
Average Individually Evaluated Loans
With no related allowance recorded	[2]	1,662		2,067
With related allowance recorded:	[2]	889		1,611
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Unpaid Principal Balance
With no related allowance recorded	[4]	1,754		712
Recorded Investment
With no related allowance recorded		1,658	[1]	652	[4]
Average Individually Evaluated Loans
With no related allowance recorded	[4]	1,539		428
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Unpaid Principal Balance
With no related allowance recorded	[5]	15,320		18,868
With related allowance recorded:	[6]	18,138
Recorded Investment
With no related allowance recorded	[5]	15,295		16,645
With related allowance recorded:	[1],[6]	18,042
Related Allowance	[1]	2,242
Average Individually Evaluated Loans
With no related allowance recorded	[5]	17,526		5,964
With related allowance recorded:	[6]	10,090
Residential Portfolio Segment [Member] | Junior Lien [Member]
Unpaid Principal Balance
With no related allowance recorded	[4]	99		100
Recorded Investment
With no related allowance recorded		96	[1]	100	[4]
Average Individually Evaluated Loans
With no related allowance recorded	[4]	103		8
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Unpaid Principal Balance
With no related allowance recorded	[7]			12,500
With related allowance recorded:	[3]	14,430
Recorded Investment
With no related allowance recorded	[7]			9,881
With related allowance recorded:	[1],[8]	11,715
Related Allowance	[8]	745
Average Individually Evaluated Loans
With no related allowance recorded	[7]			5,781
With related allowance recorded:	[2]	10,684
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Unpaid Principal Balance
With no related allowance recorded	[4],[7],[9]	3,902		6,275
With related allowance recorded:	[2],[7],[9]	29,513	[1]	28,359
Recorded Investment
With no related allowance recorded		2,733	[1],[8],[10]	3,965	[4],[7],[9]
With related allowance recorded:		27,077	[1],[3],[8],[10]	27,465	[2],[7],[9]
Related Allowance		6,501	[3],[8],[10]	4,518	[2],[7],[9]
Average Individually Evaluated Loans
With no related allowance recorded	[4],[7],[9]	3,798		2,146
With related allowance recorded:	[2],[7],[9]	$ 22,184	[1]	$ 9,814
[1] Secured by residential real estate. Secured by machinery and equipment. Secured by machinery and equipment. Secured by residential real estate. Secured by multifamily residential properties. Secured by multifamily residential properties. Secured by commercial real estate. Secured by all business assets. Secured by all business assets. Secured by commercial real estate.

ALLOWANCE FOR CREDIT LOSSES (_3

ALLOWANCE FOR CREDIT LOSSES (Schedule of Activity in Allowance for Loan Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Loans And Leases Receivable Disclosure [Line Items]
Beginning ACL	$ 67,984	$ 62,704	$ 65,888	$ 60,829
Charge-offs	(47)	(57)	(5,684)	(1,317)
Recoveries	2,119	1	5,336	6
Provision (Credit)	1,227	5,944	5,743	9,074
Ending ACL	71,283	68,592	71,283	68,592
Construction [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ACL			516
Ending ACL	770		770
Residential Portfolio Segment [Member] | Junior Lien [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ACL	187	151	177	154
Provision (Credit)	13	3	23
Ending ACL	200	154	200	154
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ACL	4,191	3,148	3,931	2,894
Charge-offs	(43)		(43)
Provision (Credit)	263	115	523	369
Ending ACL	4,411	3,263	4,411	3,263
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ACL	12,601	10,537	8,782	8,849
Charge-offs			(5,379)
Provision (Credit)	180	45	9,378	1,733
Ending ACL	12,781	10,582	12,781	10,582
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ACL	4,712	4,708	4,840	4,835
Provision (Credit)	197	(46)	69	(173)
Ending ACL	4,909	4,662	4,909	4,662
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ACL	14,452	13,548	15,403	15,480
Charge-offs				(1,199)
Provision (Credit)	(296)	(23)	(1,247)	(756)
Ending ACL	14,156	13,525	14,156	13,525
Commercial Real Estate Portfolio Segment [Member] | Lease Financing [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ACL	1,690	2,063	1,663	2,314
Recoveries	4		3,214
Provision (Credit)	27	904	(3,156)	653
Ending ACL	1,721	2,967	1,721	2,967
Commercial Real Estate Portfolio Segment [Member] | Construction [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ACL	655	421	516	236
Provision (Credit)	115	131	254	316
Ending ACL	770	552	770	552
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ACL	28,568	27,433	29,707	25,530
Charge-offs			(241)
Recoveries	2,115		2,120
Provision (Credit)	626	4,701	(277)	6,604
Ending ACL	31,309	32,134	31,309	32,134
Consumer and Other [Member]
Loans And Leases Receivable Disclosure [Line Items]
Beginning ACL	928	695	869	537
Charge-offs	(4)	(57)	(21)	(118)
Recoveries		1	2	6
Provision (Credit)	102	114	176	328
Ending ACL	$ 1,026	$ 753	$ 1,026	$ 753

ALLOWANCE FOR CREDIT LOSSES (_4

ALLOWANCE FOR CREDIT LOSSES (Schedule of Activity in Allowance for Loan Losses) (Parenthetical) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Credit Loss [Abstract]
Off balance sheet commitments, Provision (Credit)	$ (3,000)	$ 88,000	$ 19,000	$ (9,000)

ALLOWANCE FOR CREDIT LOSSES - (

ALLOWANCE FOR CREDIT LOSSES - (Schedule of Activity in ACL for Off Balance Sheet Commitments) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Credit Loss [Abstract]
Off balance sheet commitments, Beginning ACL			$ 687,000	$ 752,000
Off balance sheet commitments, Provision (Credit)	$ (3,000)	$ 88,000	19,000	(9,000)
Off balance sheet commitments, Ending ACL	706,000	743,000	706,000	743,000
Beginning ACL			687,000	752,000
Total ACL, Provision (Credit)			19,000	(9,000)
Ending ACL	$ 706,000	$ 743,000	$ 706,000	$ 743,000

DEPOSITS - Additional Informati

DEPOSITS - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deposits [Abstract]
Time deposits met or exceeded $250,000	$ 140,700	$ 105,900
Brokered Certificates Of Deposit	$ 0	$ 120,507

DEPOSITS (Schedule of Details o

DEPOSITS (Schedule of Details of Total Deposits) (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Deposits:
Noninterest-bearing demand deposits		$ 1,079,877	$ 957,687
Interest-bearing checking	[1]	3,316,217	2,882,193
Savings		103,979	111,573
Money market		902,562	740,559
Certificates of deposit - retail		515,297	443,791
Certificates of deposit - listing service		7,454	7,804
Subtotal deposits		5,925,386	5,143,607
Interest-bearing demand - Brokered		10,000	10,000
Certificates of deposit - Brokered		0	120,507
Total deposits		$ 5,935,386	$ 5,274,114
%
Noninterest-bearing demand deposits		18.19%	18.16%
Interest-bearing checking	[1]	55.87%	54.65%
Savings		1.75%	2.12%
Money market		15.21%	14.04%
Certificates of deposit - retail		8.68%	8.41%
Certificates of deposit - listing service		0.13%	0.15%
Subtotal deposits		99.83%	97.53%
Interest-bearing demand - Brokered		0.17%	0.19%
Certificates of deposit - Brokered			2.28%
Total deposits		100%	100%
[1] Interest-bearing checking includes $ 1.4 billion at September 30, 2024 and $ 990.7 million at December 31, 2023 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace program.

DEPOSITS (Details of Total Depo

DEPOSITS (Details of Total Deposits) (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Deposits:
Reciprocal balances	$ 1,400	$ 990.7

DEPOSITS (Scheduled Maturities

DEPOSITS (Scheduled Maturities of Time Deposits) (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Scheduled maturities of time deposits
2024	$ 158,997
2025	337,013
2026	24,070
2027	1,240
2028	871
2029 and later	560
Total	$ 522,751

FEDERAL HOME LOAN BANK ADVANC_2

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Overnight borrowings with FHLB		$ 403,814
FHLB interest rate		5.62%
Unused short-term overnight borrowing capacity from FHLB	$ 1,800,000
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	$ 0	$ 403,800

BUSINESS SEGMENTS - Additional

BUSINESS SEGMENTS - Additional Information (Details)	9 Months Ended
	Sep. 30, 2024 Segment
Segment Reporting [Abstract]
Number of Operating Segments	2

BUSINESS SEGMENTS - Schedule of

BUSINESS SEGMENTS - Schedule of Income and Total Assets for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Net interest income	$ 37,681	$ 36,515	$ 107,098	$ 119,414
Noninterest income	18,938	19,354	59,194	55,988
Total income	56,619	55,869	166,292	175,402
Provision for credit losses	1,224	5,856	5,762	9,065
Compensation and employee benefits	31,050	25,264	89,410	76,204
Premises and equipment	5,633	5,214	16,490	14,317
FDIC insurance expense	870	741	2,685	2,181
Other operating expense	7,096	6,194	19,231	17,977
Total operating expense	45,873	43,269	133,578	119,744
INCOME BEFORE INCOME TAX EXPENSE	10,746	12,600	32,714	55,658
Income tax expense	3,159	3,845	8,966	15,403
NET INCOME	7,587	8,755	23,748	40,255
Total assets at period end	6,793,792	6,521,581	6,793,792	6,521,581	$ 6,476,857
Banking Segment [Member]
Net interest income	37,077	35,811	105,299	116,004
Noninterest income	3,604	5,120	12,616	13,027
Total income	40,681	40,931	117,915	129,031
Provision for credit losses	1,224	5,856	5,762	9,065
Compensation and employee benefits	23,988	18,440	67,585	54,558
Premises and equipment	4,794	4,436	14,214	12,072
FDIC insurance expense	870	741	2,685	2,181
Other operating expense	5,013	4,188	13,231	11,317
Total operating expense	35,889	33,661	103,477	89,193
INCOME BEFORE INCOME TAX EXPENSE	4,792	7,270	14,438	39,838
Income tax expense	1,404	2,275	3,958	11,021
NET INCOME	3,388	4,995	10,480	28,817
Total assets at period end	6,663,410	6,405,796	6,663,410	6,405,796
Peapack Private Segment [Member]
Net interest income	604	704	1,799	3,410
Noninterest income	15,334	14,234	46,578	42,961
Total income	15,938	14,938	48,377	46,371
Compensation and employee benefits	7,062	6,824	21,825	21,646
Premises and equipment	839	778	2,276	2,245
Other operating expense	2,083	2,006	6,000	6,660
Total operating expense	9,984	9,608	30,101	30,551
INCOME BEFORE INCOME TAX EXPENSE	5,954	5,330	18,276	15,820
Income tax expense	1,755	1,570	5,008	4,382
NET INCOME	4,199	3,760	13,268	11,438
Total assets at period end	$ 130,382	$ 115,785	$ 130,382	$ 115,785

FAIR VALUE - Additional Informa

FAIR VALUE - Additional Information (Details) - Loans [Member] - Property A [Member]	9 Months Ended
	Sep. 30, 2024
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	Sep. 30, 2024	Dec. 31, 2023
Securities available for sale	$ 682,713	$ 550,617
Loans held for sale, at fair value	$ 561	$ 100
Recurring Basis [Member]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets	Other Assets
Total	$ 714,425	$ 594,423
Derivatives	$ 14,406	$ 23,826
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accounts Payable and Other Accrued Liabilities	Accounts Payable and Other Accrued Liabilities
Recurring Basis [Member] | Designated as Hedging Instrument [Member]
Derivatives	$ 3,970	$ 6,814
Derivatives	109
Recurring Basis [Member] | Not Designated as Hedging Instrument [Member]
Derivatives	14,297	23,826
Derivatives	14,297	23,826
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Total	13,445	13,166
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Total	700,980	581,257
Derivatives	14,406	23,826
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Designated as Hedging Instrument [Member]
Derivatives	3,970	6,814
Derivatives	109
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Not Designated as Hedging Instrument [Member]
Derivatives	14,297	23,826
Derivatives	14,297	23,826
U.S. Government-Sponsored Agencies [Member]
Securities available for sale	205,013	197,691
U.S. Government-Sponsored Agencies [Member] | Recurring Basis [Member]
Securities available for sale	205,013	197,691
U.S. Government-Sponsored Agencies [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	205,013	197,691
Mortgage-Backed Securities-Residential [Member]
Securities available for sale	442,082	320,796
Mortgage-Backed Securities-Residential [Member] | Recurring Basis [Member]
Securities available for sale	442,082	320,796
Mortgage-Backed Securities-Residential [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	442,082	320,796
SBA Pool Securities [Member]
Securities available for sale	21,413	23,404
SBA Pool Securities [Member] | Recurring Basis [Member]
Securities available for sale	21,413	23,404
SBA Pool Securities [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	21,413	23,404
Corporate Bond [Member]
Securities available for sale	14,205	8,726
Corporate Bond [Member] | Recurring Basis [Member]
Securities available for sale	14,205	8,726
Corporate Bond [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	14,205	8,726
CRA Investment Fund [Member] | Recurring Basis [Member]
Securities available for sale	13,445	13,166
CRA Investment Fund [Member] | Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Securities available for sale	$ 13,445	$ 13,166

FAIR VALUE (Schedule of Residen

FAIR VALUE (Schedule of Residential Loans Held for Sale, at Fair Value) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Residential loans contractual balance	$ 554	$ 98
Fair value adjustment	7	2
Total fair value of residential loans held for sale	$ 561	$ 100

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	Sep. 30, 2024	Dec. 31, 2023
Commercial and Industrial [Member]
Individually evaluated loans	$ 20,575	$ 22,947
Commercial and Industrial [Member] | Significant Unobservable Inputs (Level 3) [Member]
Individually evaluated loans	20,575	22,947
Lease Financing [Member]
Individually evaluated loans	604	1,035
Lease Financing [Member] | Significant Unobservable Inputs (Level 3) [Member]
Individually evaluated loans	604	$ 1,035
Multifamily Property [Member]
Individually evaluated loans	15,800
Multifamily Property [Member] | Significant Unobservable Inputs (Level 3) [Member]
Individually evaluated loans	15,800
Investment Property [Member]
Individually evaluated loans	10,970
Investment Property [Member] | Significant Unobservable Inputs (Level 3) [Member]
Individually evaluated loans	$ 10,970

FAIR VALUE (Schedule of Financi

FAIR VALUE (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands		Sep. 30, 2024		Dec. 31, 2023
Financial Assets:
Securities available for sale		$ 682,713		$ 550,617
Securities held to maturity		103,158		107,755
FHLB and FRB stock	[1]	12,459		31,044
Loans held for sale, at fair value		561		100
Loans held for sale, at lower of cost or fair value		4,189		6,695
Accrued interest receivable		31,973		30,676
Carrying Value [Member]
Financial Assets:
Cash and cash equivalents		492,658		187,671
Securities available for sale		682,713		550,617
Securities held to maturity		103,158		107,755
CRA investment fund		13,445		13,166
FHLB and FRB stock		12,459		31,044
Loans held for sale, at fair value		561		100
Loans held for sale, at lower of cost or fair value		4,189		6,695
Loans, net of allowance for credit losses		5,244,134		5,363,437
Accrued interest receivable		31,973		30,676
Financial Liabilities:
Deposits		5,935,386		5,274,114
Short-term borrowings				403,814
Subordinated debt		133,489		133,274
Accrued interest payable		10,252		7,115
Carrying Value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Accrued interest receivable		1,159	[2]	1,373	[3]
Derivatives		14,297		23,826
Financial Liabilities:
Accrued interest payable		1,159	[4]	1,373	[5]
Derivatives		14,297		23,826
Carrying Value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives		3,970		6,814
Financial Liabilities:
Derivatives		109
Fair value [Member]
Financial Assets:
Cash and cash equivalents		492,658		187,671
Securities available for sale		682,713		550,617
Securities held to maturity		92,438		94,415
CRA investment fund		13,445		13,166
Loans held for sale, at fair value		561		100
Loans held for sale, at lower of cost or fair value		4,540		7,201
Loans, net of allowance for credit losses		5,075,349		5,294,942
Accrued interest receivable		31,973		30,676
Financial Liabilities:
Deposits		5,934,212		5,269,708
Short-term borrowings				403,814
Subordinated debt		120,402		111,924
Accrued interest payable		10,252		7,115
Fair value [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Financial Assets:
Cash and cash equivalents		492,658		187,671
CRA investment fund		13,445		13,166
Financial Liabilities:
Deposits		5,412,635		4,702,012
Accrued interest payable		7,046		4,989
Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Securities available for sale		682,713		550,617
Securities held to maturity		92,438		94,415
Loans held for sale, at fair value		561		100
Loans held for sale, at lower of cost or fair value		4,540		7,201
Accrued interest receivable		3,112		2,868
Financial Liabilities:
Deposits		521,577		567,696
Short-term borrowings				403,814
Accrued interest payable		2,142		1,968
Fair value [Member] | Significant Unobservable Inputs (Level 3) [Member]
Financial Assets:
Loans, net of allowance for credit losses		5,075,349		5,294,942
Accrued interest receivable		28,861		27,808
Financial Liabilities:
Subordinated debt		120,402		111,924
Accrued interest payable		1,064		158
Fair value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Accrued interest receivable		1,159	[2]	1,373	[3]
Derivatives		14,297		23,826
Financial Liabilities:
Accrued interest payable		1,159	[4]	1,373	[5]
Derivatives		14,297		23,826
Fair value [Member] | Not Designated as Hedging Instrument [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Accrued interest receivable		1,159	[2]	1,373	[3]
Derivatives		14,297		23,826
Financial Liabilities:
Accrued interest payable		1,159	[4]	1,373	[5]
Derivatives		14,297		23,826
Fair value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives		3,970		6,814
Financial Liabilities:
Derivatives		109
Fair value [Member] | Designated as Hedging Instrument [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Derivatives		3,970		$ 6,814
Financial Liabilities:
Derivatives		$ 109
[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 ($)		3 Months Ended				9 Months Ended
		Sep. 30, 2024		Sep. 30, 2023		Sep. 30, 2024	Sep. 30, 2023
Service charges on deposits
Overdraft fees		$ 123,000		$ 129,000		$ 345,000	$ 392,000
Interchange income		256,000		283,000		761,000	903,000
Other		948,000		907,000		2,888,000	2,602,000
Wealth management fees	[1],[2]	15,150,000		13,975,000		45,976,000	41,989,000
Loss on sale of property						(4,000)
Corporate advisory fee income		55,000		85,000		976,000	180,000
Other	[3]	2,406,000	[4]	3,975,000	[4]	8,252,000	9,922,000
Total other income		$ 18,938,000		$ 19,354,000		$ 59,194,000	$ 55,988,000
[1] Includes investment brokerage fees. Includes investment brokerage fees . All of the other category is outside the scope of ASC 606. 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 ($)		3 Months Ended				9 Months Ended
		Sep. 30, 2024		Sep. 30, 2023		Sep. 30, 2024	Sep. 30, 2023
Service charges on deposits
Overdraft fees		$ 123,000		$ 129,000		$ 345,000	$ 392,000
Interchange income		256,000		283,000		761,000	903,000
Other		948,000		907,000		2,888,000	2,602,000
Wealth management fees	[1],[2]	15,150,000		13,975,000		45,976,000	41,989,000
Loss on sale of property						(4,000)
Corporate advisory fee income		55,000		85,000		976,000	180,000
Other	[3]	2,406,000	[4]	3,975,000	[4]	8,252,000	9,922,000
Total other income		18,938,000		19,354,000		59,194,000	55,988,000
Banking Segment [Member]
Service charges on deposits
Overdraft fees		123,000		129,000		345,000	392,000
Interchange income		256,000		283,000		761,000	903,000
Other		948,000		907,000		2,888,000	2,602,000
Loss on sale of property						(4,000)
Corporate advisory fee income		55,000		85,000		976,000	180,000
Other	[3]	2,222,000		3,716,000		7,650,000	8,950,000
Total other income		3,604,000		5,120,000		12,616,000	13,027,000
Wealth Management Division [Member]
Service charges on deposits
Wealth management fees	[1]	15,150,000		13,975,000		45,976,000	41,989,000
Other	[3]	184,000		259,000		602,000	972,000
Total other income		$ 15,334,000		$ 14,234,000		$ 46,578,000	$ 42,961,000
[1] Includes investment brokerage fees. Includes investment brokerage fees . All of the other category is outside the scope of ASC 606. 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 ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interchange income	$ 256,000	$ 283,000	$ 761,000	$ 903,000
Loss on sale of property			(4,000)
Cardholder Rewards [Member]
Interchange income	$ 6,000	$ 2,000	$ 12,000	$ 6,000

OTHER OPERATING EXPENSES (Sched

OTHER OPERATING EXPENSES (Schedule of Components of Other Operating Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other operating expenses
Professional and legal fees	$ 2,014	$ 1,619	$ 5,069	$ 4,143
Trust department expense	1,064	977	2,938	2,856
Telephone	390	407	1,182	1,138
Advertising	340	482	1,308	1,584
Amortization of intangible assets	272	339	816	1,048
Branch/office restructure				175
Other operating expenses	3,016	2,370	7,918	7,033
Total other operating expenses	$ 7,096	$ 6,194	$ 19,231	$ 17,977

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Schedule of Accumulated Other Comprehensive Income/(Loss) Balances, Net of Tax) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 588,322	$ 565,069	$ 583,681	$ 532,980
Total other comprehensive income/(loss)	13,522	(13,656)	10,058	(7,442)
Balance	607,614	558,956	607,614	558,956
Net Unrealized Holding Gain/(Loss) on Securities Available for Sale, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(75,188)	(76,047)	(69,809)	(80,972)
Other Comprehensive Income/(Loss) Before Reclassifications	17,574	(14,987)	12,195	(10,062)
Total other comprehensive income/(loss)	17,574	(14,987)	12,195	(10,062)
Balance	(57,614)	(91,034)	(57,614)	(91,034)
Gain/(Loss) on Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	6,846	8,050	4,931	6,761
Other Comprehensive Income/(Loss) Before Reclassifications	(4,052)	1,331	(2,137)	2,680
Amount Reclassified From Accumulated Other Comprehensive Income/(Loss)				(60)
Total other comprehensive income/(loss)	(4,052)	1,331	(2,137)	2,620
Balance	2,794	9,381	2,794	9,381
Accumulated Other Comprehensive Gain/(Loss), Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(68,342)	(67,997)	(64,878)	(74,211)
Other Comprehensive Income/(Loss) Before Reclassifications	13,522	(13,656)	10,058	(7,382)
Amount Reclassified From Accumulated Other Comprehensive Income/(Loss)				(60)
Total other comprehensive income/(loss)	13,522	(13,656)	10,058	(7,442)
Balance	$ (54,820)	$ (81,653)	$ (54,820)	$ (81,653)

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	$ (3,159)	$ (3,845)	$ (8,966)	$ (15,403)
NET INCOME	$ 7,587	$ 8,755	$ 23,748	40,255
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				(84)
Income tax expense				24
NET INCOME				$ (60)

DERIVATIVES - Additional Inform

DERIVATIVES - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Derivative [Line Items]
Net interest income (expense)	$ 37,681,000	$ 36,515,000	$ 107,098,000	$ 119,414,000
Accrued interest receivable	31,973,000		31,973,000		$ 30,676,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	360,000,000		360,000,000		310,000,000
Net interest income (expense)	1,500,000	$ 1,500,000	4,500,000	$ 3,500,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member]
Derivative [Line Items]
Notional amount	335,000,000		335,000,000		310,000,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Derivative [Line Items]
Notional amount	25,000,000		25,000,000
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	466,777,000		466,777,000		545,983,000
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member] | Other Assets [Member]
Derivative [Line Items]
Accrued interest receivable	1,200,000		1,200,000		1,200,000
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member] | Other Liabilities [Member]
Derivative [Line Items]
Accrued interest payable	$ 1,400,000		$ 1,400,000		$ 1,400,000

DERIVATIVES - (Schedule of Info

DERIVATIVES - (Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) Contract	Dec. 31, 2023 USD ($) Contract
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 360,000,000	$ 310,000,000
Fair Value	$ 3,861,000	$ 6,814,000
Weighted average pay rate	2.29%	2.22%
Weighted average receive rate	4.20%	4.14%
Weighted average maturity	2 years 7 months 6 days	2 years 11 months 23 days
Unrealized gain/(loss), net	$ 3,861,000	$ 6,814,000
Number of contracts | Contract	14	12
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 466,777,000	$ 545,983,000
Fair Value	$ (13,138,000)	$ (22,452,000)
Weighted average pay rate	3.91%	3.95%
Weighted average receive rate	6.90%	7.09%
Weighted average maturity	3 years 7 months 20 days	3 years 11 months 4 days
Number of contracts | Contract	60	71

DERIVATIVES - (Schedule of Cash

DERIVATIVES - (Schedule of Cash Flow Hedges Included in Financial Statements) (Details) - Interest Rate Swap [Member] - Designated as Hedging Instrument [Member] - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Notional Amount	$ 360,000,000	$ 310,000,000
Fair Value	3,861,000	6,814,000
Other Assets [Member]
Derivative [Line Items]
Notional Amount	335,000,000	310,000,000
Fair Value	3,970,000	$ 6,814,000
Other Liabilities [Member]
Derivative [Line Items]
Notional Amount	25,000,000
Fair Value	$ (109,000)

DERIVATIVES - (Schedule of Net

DERIVATIVES - (Schedule of Net Gains/(Loss) Recorded in Accumulated Other Comprehensive Income/(Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative [Line Items]
Gain/(loss) recognized in other comprehensive income (effective portion)	$ (4,052)	$ 1,331	$ (2,137)	$ 2,620
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Gain/(loss) recognized in other comprehensive income (effective portion)	$ (5,600)	1,861	$ (2,953)	3,904
Gain/(loss) recognized in other noninterest income		$ 0		$ (84)

SUBORDINATED DEBT - Additional

SUBORDINATED DEBT - Additional Information (Details) - Subordinated Debt [Member] - USD ($)	1 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2017	Sep. 30, 2024
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%	8.14%
Debt issuance costs	$ 1,900,000	$ 875,000

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Lessee Lease Description [Line Items]
Operating lease right-of-use assets	$ 41,650,000		$ 41,650,000		$ 12,096,000
Operating lease liabilities	$ 44,775,000		$ 44,775,000		$ 12,876,000
Weighted average discount rate	4.39%		4.39%		2.72%
Weighted average lease term	9 years 5 months 15 days		9 years 5 months 15 days		6 years 9 months
Operating lease costs	$ 1,700,000	$ 792,000	$ 4,000,000	$ 2,400,000
Variable lease costs	104,000	$ 58,000	262,000	$ 200,000
Main Office [Member]
Lessee Lease Description [Line Items]
Operating lease right-of-use assets	18,200,000		18,200,000
Operating lease liabilities	19,000,000		19,000,000
New York City [Member]
Lessee Lease Description [Line Items]
Operating lease right-of-use assets	13,400,000		13,400,000
Operating lease liabilities	$ 15,000,000		$ 15,000,000
Minimum [Member]
Lessee Lease Description [Line Items]
Remaining lease term			2 months		4 months
Maximum [Member]
Lessee Lease Description [Line Items]
Remaining lease term			12 years		13 years

LEASES (Schedule of Operating L

LEASES (Schedule of Operating Lease Liabilities by Contractual Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
2024	$ 1,282
2025	6,162
2026	6,173
2027	5,839
2028	5,659
Thereafter	30,195
Total lease payments	55,310
Less: imputed interest	10,535
Total present value of lease payments	$ 44,775	$ 12,876

LEASES (Summary of Supplemental

LEASES (Summary of Supplemental Cash Flow Information Related to Direct Finance and Operating Leases) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Right-of-use asset obtained in exchange for lease obligation	$ 32,483	$ 1,926
Operating cash flows from operating leases	3,108	2,184
Operating cash flows from direct finance leases	74	149
Financing cash flows from direct finance leases	$ 308	$ 561