Peapack-Gladstone Financial (PGC) 10-K 15 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Mar. 07, 2016	Jun. 30, 2015
Document And Entity Information
Entity Registrant Name	PEAPACK GLADSTONE FINANCIAL CORP
Entity Central Index Key	1,050,743
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Entity Voluntary Filers	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 326
Entity Common Stock, Shares Outstanding		16,347,750
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015
Trading Symbol	PGC

CONSOLIDATED STATEMENTS OF COND

CONSOLIDATED STATEMENTS OF CONDITION - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and due from banks	$ 11,550	$ 6,621
Federal funds sold	101	101
Interest-earning deposits	58,509	24,485
Total cash and cash equivalents	70,160	31,207
Securities available for sale	195,630	332,652
FHLB and FRB stock, at cost	13,984	11,593
Loans held for sale, at fair value	1,558	$ 839
Loans held for sale, at lower of cost or fair value	82,200
Loans	2,913,242	$ 2,250,267
Less: Allowance for loan losses	25,856	19,480
Net loans	2,887,386	2,230,787
Premises and equipment	30,246	32,258
Other real estate owned	563	1,324
Accrued interest receivable	6,820	5,371
Bank owned life insurance	42,885	32,634
Deferred tax assets, net	15,582	10,491
Goodwill	1,573	$ 563
Intangibles	1,708
Other assets	14,364	$ 12,678
Total assets	3,364,659	2,702,397
Deposits:
Noninterest-bearing demand deposits	419,887	366,371
Interest-bearing deposits:
Checking	861,697	600,889
Savings	115,007	112,878
Money market accounts	810,709	700,069
Certificates of deposit	434,450	198,819
Subtotal deposits	2,641,750	1,979,026
Interest-bearing demand - Brokered	200,000	188,000
Certificates of deposit - Brokered	93,720	131,667
Total deposits	2,935,470	2,298,693
Overnight borrowings	40,700	54,600
Federal home loan bank advances	83,692	83,692
Capital lease obligation	10,222	10,712
Accrued expenses and other liabilities	18,899	12,433
Total liabilities	$ 3,088,983	$ 2,460,130
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 21,000,000 shares; issued shares, 16,476,297 at December 31, 2015 and 15,563,895 at December 31, 2014; outstanding shares, 16,068,119 at December 31, 2015 and 15,155,717 at December 31, 2014)	$ 13,717	$ 12,954
Surplus	213,203	195,829
Treasury stock at cost (408,178 shares at December 31, 2015 and 2014)	(8,988)	(8,988)
Retained earnings	58,123	41,251
Accumulated other comprehensive (loss)/income, net	(379)	1,221
Total shareholders' equity	275,676	242,267
Total liabilities and shareholders' equity	$ 3,364,659	$ 2,702,397

CONSOLIDATED STATEMENTS OF CON3

CONSOLIDATED STATEMENTS OF CONDITION (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED STATEMENTS OF CONDITION [Abstract]
Preferred stock, par value
Preferred stock, shares authorized	500,000	500,000
Common stock, stated value	$ 0.83	$ 0.83
Common stock, shares authorized	21,000,000	21,000,000
Common stock, shares issued	16,476,297	15,563,895
Common stock, shares outstanding	16,068,119	15,155,717
Treasury stock, shares	408,178	408,178

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
INTEREST INCOME
Loans, including fees	$ 94,284	$ 70,420	$ 51,218
Loans held for sale	55	48	284
Securities available for sale:
Taxable	4,079	4,156	4,606
Tax-exempt	520	703	793
Interest-earning deposits	204	248	152
Total interest income	99,142	75,575	57,053
INTEREST EXPENSE
Checking accounts	1,495	781	308
Savings and money market accounts	2,111	1,671	1,107
Certificates of deposit	4,411	1,521	1,763
Overnight and short-term borrowings	107	48	19
Federal Home Loan Bank advances	1,495	1,485	584
Capital lease obligation	503	483	421
Subtotal - interest expense	10,122	5,989	4,202
Interest-bearing demand - brokered	2,534	307	15
Interest on certificates of deposits - brokered	2,034	1,385	60
Total interest expense	14,690	7,681	4,277
Net interest income before provision for loan losses	84,452	67,894	52,776
Provision for loan losses	7,100	4,875	3,425
Net interest income after provision for loan losses	77,352	63,019	49,351
OTHER INCOME
Wealth management fee income	17,039	15,242	13,838
Service charges and fees	3,323	3,111	2,798
Bank owned life insurance	1,297	1,092	1,098
Gain on loans held for sale at fair value	$ 528	439	1,330
Gain on loans held for sale at lower of cost or fair value		166	522
Other income	$ 1,000	497	169
Securities gains, net	527	260	840
Total other income	23,714	20,807	20,595
OPERATING EXPENSES
Salaries and employee benefits	40,278	36,241	32,249
Premises and equipment	11,569	9,963	9,914
Other operating expense	17,079	13,336	13,020
Total operating expenses	68,926	59,540	55,183
Income before income tax expense	32,140	24,286	14,763
Income tax expense	12,168	9,396	5,502
Net income	$ 19,972	$ 14,890	$ 9,261
EARNINGS PER COMMON SHARE
Basic (in dollars per share)	$ 1.31	$ 1.23	$ 1.02
Diluted (in dollars per share)	$ 1.29	$ 1.22	$ 1.01

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income	$ 19,972	$ 14,890	$ 9,261
Unrealized gains (losses) on available for sale securities:
Unrealized holding gains arising during the period	(959)	2,378	(6,390)
Less: Reclassification adjustment for net gains included in net income	527	260	840
Before tax	(1,486)	2,118	(7,230)
Tax effect	573	(820)	2,954
Net of tax	(913)	1,298	$ (4,276)
Unrealized loss on cash flow hedge
Unrealized holding loss	$ (1,162)	$ (169)
Reclassification adjustment for losses included in net income
Before tax	$ (1,162)	$ (169)
Tax effect	475	69
Net of tax	(687)	(100)
Total other comprehensive (loss)/income	(1,600)	1,198	$ (4,276)
Total comprehensive income	$ 18,372	$ 16,088	$ 4,985

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Surplus [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Total
Balance at Dec. 31, 2012		$ 7,755	$ 97,675	$ (8,988)	$ 21,316	$ 4,299	$ 122,057
Shares outstanding at Dec. 31, 2012		8,917,799
Net income					9,261		9,261
Other Comprehensive Income						(4,276)	$ (4,276)
Issuance of restricted stock, net of forfeitures		$ 158	(158)
Issuance of restricted stock, net of forfeitures, shares		189,858
Amortization of restricted stock			590				$ 590
Cash dividends declared on common stock					(1,802)		(1,802)
Common stock option expense			319				319
Common stock options exercised and related tax benefits		$ 3	27				30
Common stock options exercised, gross		2,982
Sale of shares (dividend reinvestment program)		$ 167	3,081				3,248
Sale of shares (dividend reinvestment program), shares		200,265
Issuance of shares for Profit Sharing Plan		$ 6	124				130
Issuance of shares for Profit Sharing Plan, shares		7,025
Issuance of stock offering net of costs		$ 2,059	39,041				41,100
Issuance of stock offering net of costs, shares		2,470,588
Balance at Dec. 31, 2013		$ 10,148	140,699	(8,988)	28,775	23	170,657
Shares outstanding at Dec. 31, 2013		11,788,517
Net income					14,890		14,890
Other Comprehensive Income						1,198	$ 1,198
Issuance of restricted stock, net of forfeitures		$ 121	(121)
Issuance of restricted stock, net of forfeitures, shares		145,747
Amortization of restricted stock			1,475				$ 1,475
Cash dividends declared on common stock					(2,414)		(2,414)
Common stock option expense			234				234
Common stock options exercised and related tax benefits		$ 14	160				174
Common stock options exercised, gross		14,702
Sale of shares (dividend reinvestment program)		$ 347	7,082				7,429
Sale of shares (dividend reinvestment program), shares		416,057
Issuance of shares for Profit Sharing Plan		$ 3	67				70
Issuance of shares for Profit Sharing Plan, shares		3,781
Issuance of shares for Employee Stock Purchase Plan		$ 8	188				196
Issuance of shares for Employee Stock Purchase Plan, shares		10,698
Issuance of stock offering net of costs		$ 2,313	46,045				48,358
Issuance of stock offering net of costs, shares		2,776,215
Balance at Dec. 31, 2014		$ 12,954	195,829	(8,988)	41,251	1,221	$ 242,267
Shares outstanding at Dec. 31, 2014		15,155,717					15,155,717
Net income					15,629		$ 19,972
Other Comprehensive Income						(1,600)	$ (1,600)
Issuance of restricted stock, net of forfeitures		$ 134	(134)
Issuance of restricted stock, net of forfeitures, shares		160,457
Vesting of restricted stock		$ (3)	(78)				$ (81)
Vesting of restricted stock, shares		3,776
Amortization of restricted stock			1,621				1,621
Cash dividends declared on common stock					(3,100)		(3,100)
Common stock option expense			219				219
Common stock options exercised, net of shares used to exercise and related tax benefits		$ 11	75				86
Common stock options exercised, gross		18,891
Common stock options exercised, shares used to exercise		11,385
Common stock options exercised, net		7,506
Sale of shares (dividend reinvestment program)		$ 555	13,093				$ 13,648
Sale of shares (dividend reinvestment program), shares		665,654					665,654
Issuance of shares for Employee Stock Purchase Plan		$ 26	618				$ 644
Issuance of shares for Employee Stock Purchase Plan, shares		30,766
Issuance of common stock for acquisition		$ 40	960				1,000
Issuance of common stock for acquisition, shares		47,916
Issuance of warrants			1,000				1,000
Balance at Dec. 31, 2015		$ 13,717	$ 213,203	$ (8,988)	$ 58,123	$ (379)	$ 275,676
Shares outstanding at Dec. 31, 2015		16,068,119					16,068,119

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY [Abstract]
Cash dividends declared on common stock, per share	$ 0.20	$ 0.20	$ 0.20

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities:
Net income	$ 19,972	$ 14,890	$ 9,261
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	3,921	2,993	3,536
Amortization of premium and accretion of discount on securities, net	1,664	1,533	1,887
Amortization of restricted stock	1,621	$ 1,475	$ 590
Amortization of intangible assets	82
Provision for loan losses	7,100	$ 4,875	$ 3,425
Valuation allowance on other real estate owned	250	400	1,010
Stock-based compensation and employee stock purchase plan expense	319	283	319
Deferred tax (benefit)/expense	(4,043)	(1,480)	2,670
Gains on sale of securities, available for sale, net	(527)	(260)	(840)
Proceeds from sales of loans held for sale at fair value	34,543	30,585	85,081
Loans originated for sale	(34,734)	(28,985)	(79,291)
Gain on loans sold held for sale at fair value	$ (528)	(439)	(1,330)
Gain on loans sold held for sale from portfolio		(166)	(522)
Gain on OREO sold		(139)	(85)
Loss/(gain) on disposal of premises and equipment	$ 15	$ (9)	$ 49
Gain on death benefit	(285)
Increase in cash surrender value of life insurance	(643)	$ (752)	$ (794)
Increase in accrued interest receivable	(1,449)	(1,285)	(222)
(Increase)/decrease in other assets	(476)	2,590	5,643
Increase in accrued expenses and other liabilities	3,504	1,153	2,315
Net cash provided by operating activities	30,306	27,263	32,702
Investing activities:
Maturities of securities available for sale	76,469	70,382	83,854
Redemptions for FHLB & FRB stock	48,627	29,722	8,963
Calls of securities available for sale	19,725	10,000	18,115
Sales of securities available for sale	46,254	35,411	54,881
Purchase of securities available for sale	(8,049)	(179,153)	(129,095)
Purchase of FHLB & FRB stock	$ (51,018)	(31,283)	(14,356)
Sales of loans held for sale at lower of cost or fair value		68,022	14,271
Net increase in loans, net of participations sold	$ (746,132)	(745,434)	(445,523)
Sales of other real estate	744	1,100	3,749
Purchases of premises and equipment	$ (1,924)	(3,941)	$ (2,545)
Disposal of premises and equipment		$ 15
Purchase of wealth management company	$ (800)
Proceeds from death benefit	677
Purchase of life insurance	(10,000)
Net cash used in by investing activities	(625,427)	$ (745,159)	$ (407,686)
Financing activities:
Net increase in deposits	636,777	651,443	130,823
Net (decrease)/increase in overnight borrowings	$ (13,900)	(300)	54,900
Proceeds from Federal Home Loan Bank advances		$ 9,000	62,692
Repayments of FHLB advances			(218)
Dividends paid on common stock	$ (3,100)	$ (2,414)	(1,802)
Exercise of stock options, net stock swaps	86	$ 174	$ 30
Restricted stock tax expense	$ (81)
Net proceeds, rights offering		$ 48,358	$ 41,100
Sale of common shares (Dividend Reinvestment Program)	$ 13,648	7,429	3,248
Purchase of shares of profit sharing plan		70	$ 130
Issuance of shares for employee stock purchase plan	$ 644	196
Net cash provided by financing activities	634,074	713,956	$ 290,903
Net increase/(decrease) in cash and cash equivalents	39,124	(3,940)	(84,081)
Cash and cash equivalents at beginning of year	31,207	35,147	119,228
Cash and cash equivalents at end of year	70,160	31,207	35,147
Supplemental disclosures of cash flow information
Interest	13,726	7,042	3,822
Income taxes	15,572	7,747	$ 1,223
Transfer of loans to loans held for sale	109,223	67,855
Transfer of loans to other real estate owned	$ 233	744	$ 3,119
Increase in capital lease		$ 2,326
Acquisition (Note 18)
Goodwill	$ 1,010
Customer relationship & other intangibles	$ 1,790

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Organization: All significant intercompany balances and transactions have been eliminated from the accompanying consolidated financial statements. Business: Basis of Financial Statement Presentation Segment Information The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support sales. Peapack-Gladstone Bank's Private Wealth Management Division includes asset management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; corporate trust services including services as trustee for pension and profit sharing plans; and other financial planning and advisory services. This segment also includes the activity from the Delaware subsidiary. Income is recognized as earned. Cash and Cash Equivalents: 90 Interest-Earning Deposits in Other Financial Institutions Securities 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. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, Management considers the extent and duration of the unrealized loss and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) other-than-temporary impairment related to credit loss, which must be recognized in the income statement and 2) other-than-temporary impairment related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock: The Bank is also a member of the Federal Reserve Bank and required to own a certain amount of FRB stock. FRB stock is carried at cost and classified as a restricted security. Cash dividends are reported as income. Loans Held for Sale: Mortgage loans held for sale are generally sold with servicing rights released; therefore, no servicing rights are recorded. Gains and losses on sales of mortgage loans, shown as gain on sale of loans on the Statement of Income, are based on the difference between the selling price and the carrying value of the related loan sold. 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 are considered past due when they are not paid in accordance with contractual terms. The accrual of income on loans, including impaired loans, is discontinued if, in the opinion of Management, principal or interest is not likely to be paid in accordance with the terms of the loan agreement, or when principal or interest is past due 90 120 Allowance for Loan Losses: The allowance consists of specific and general components. The specific component of the allowance relates to loans that are individually classified as impaired. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Factors considered by Management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower's prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Loans are individually evaluated for impairment when they are classified as substandard by Management. If a loan is considered impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan's existing rate or at the fair value of collateral less estimated disposition costs if repayment is expected solely from the collateral. If a residential mortgage is placed on nonaccrual status and is in the process of collection, such as through a foreclosure action, then it is evaluated for impairment on an individual basis and the loan is reported, net, at the fair value of the collateral less estimated disposition costs. A troubled debt restructuring is a modified loan with concessions made by the lender to a borrower who is experiencing financial difficulty. Troubled debt restructurings are impaired and are measured at the present value of estimated future cash flows using the loan's effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral, less estimated disposition costs. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component of the allowance covers non-impaired loans and is based primarily on the Bank's historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experience by the Company on a weighted average basis over the previous three years. This actual loss experience is adjusted by other qualitative factors based on the risks present for each portfolio segment. These economic factors include consideration of 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 staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. For loans that are graded as non-impaired, the Company allocates a higher general reserve percentage then pass-rated loans using a multiple that is calculated annually through a migration analysis. At December 31, 2015 and 2014, the multiple was 5.0 2.5 In determining an appropriate amount for the allowance, the Bank segments and evaluates the loan portfolio based on Federal call report codes, which are based on collateral. The following portfolio classes have been identified: Primary Residential Mortgages Home Equity Lines of Credit Junior Lien Loan on Residence Multifamily and Commercial Real Estate Loans Commercial and Industrial Loans Agricultural Production Commercial Construction The Bank has discontinued its commercial construction activity. Dollar amounts within this segment are immaterial. Consumer and Other Premises and Equipment: three ten 40 Other Real Estate Owned (OREO): Bank Owned Life Insurance (BOLI): Loan Commitments and Related Financial Instruments: Derivatives: 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 balance sheet or to specific firm commitments or forecasted transactions. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. Income Taxes: 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 2012 or by New Jersey tax authorities for years prior to 2011. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Benefit Plans: Stock-Based Compensation: ten Employee Stock Purchase Plan (“ESPP”): 150,000 one 15 85 100 49 30,766 10,698 Earnings Per Share (“EPS”): The following table shows the calculation of both basic and diluted earnings per share for the years ended December 31, 2015, 2014 and 2013: (In thousands, except per share data) 2015 2014 2013 Net income available to common shareholders $ 19,972 $ 14,890 $ 9,261 Basic weighted average shares outstanding 15,187,637 12,065,615 9,094,111 Plus: common stock equivalents 247,359 106,492 82,688 Diluted weighted average shares outstanding 15,434,996 12,172,107 9,176,799 Earnings per share: Basic $ 1.31 $ 1.23 $ 1.02 Diluted 1.29 1.22 1.01 Stock options totaling 92,720 478,389 546,950 Loss Contingencies: Restrictions on Cash: Comprehensive Income: Equity: 20 20 Transfers of Financial Assets: Goodwill and Other Intangible Assets: Other intangible assets primarily consist of customer relationship intangible assets arising from acquisition are amortized on an accelerated method over their estimated useful lives, which range up to 15 Reclassification: New Accounting Policies: On January 5, 2016, the FASB issued Accounting Standards Update 2016-01, “Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (the ASU). Under this ASU, the current GAAP model is changed in the areas of accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The ASU will be effective for public business entities in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently in process of evaluating the impact of this ASU on its financial position, and result of operations and cash flows.

INVESTMENT SECURITIES AVAILABLE

INVESTMENT SECURITIES AVAILABLE FOR SALE	12 Months Ended
	Dec. 31, 2015
INVESTMENT SECURITIES AVAILABLE FOR SALE [Abstract]
INVESTMENT SECURITIES AVAILABLE FOR SALE	2. INVESTMENT SECURITIES AVAILABLE FOR SALE A summary of amortized cost and approximate fair value of investment securities available for sale included in the consolidated statements of condition as of December 31, 2015 and 2014 follows: 2015 Gross Gross Amortized Unrecognized Unrecognized Fair (In thousands) Cost Gains Losses Value Mortgage-backed securities-residential $ 159,747 $ 1,293 $ (433 ) $ 160,607 SBA pool securities 7,601 — (81 ) 7,520 State and political subdivisions 21,612 417 — 22,029 Single-issuer trust preferred security 2,999 — (464 ) 2,535 CRA investment fund 3,000 — (61 ) 2,939 Total $ 194,959 $ 1,710 $ (1,039 ) $ 195,630 2014 Gross Gross Amortized Unrecognized Unrecognized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored entities $ 35,664 $ 55 $ (49 ) $ 35,670 Mortgage-backed securities-residential 239,975 2,725 (411 ) 242,289 SBA pool securities 8,015 — (71 ) 7,944 State and political subdivisions 40,842 553 (1 ) 41,394 Single-issuer trust preferred security 2,999 — (599 ) 2,400 CRA investment fund 3,000 — (45 ) 2,955 Total $ 330,495 3,333 (1,176 ) 332,652 The amortized cost and approximate fair value of investment securities available for sale as of December 31, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity, such as mortgage-backed securities, marketable equity securities and the CRA Investment Fund, are shown separately. Maturing in: (In thousands) Amortized Cost Fair Value One year or less $ 7,150 $ 7,167 After one year through five years 8,312 8,484 After five years through ten years 5,066 5,220 After ten years 4,083 3,693 24,611 24,564 Mortgage-backed securities-residential 159,747 160,607 SBA pool securities 7,601 7,520 CRA investment fund 3,000 2,939 Total $ 194,959 $ 195,630 Securities available for sale with fair value of $ 136.0 46.4 The following is a summary of the gross gains, gross losses and net tax expense related to proceeds on sales of securities available for sale for the years ended December 31, (In thousands) 2015 2014 2013 Proceeds on sales $ 46,254 $ 35,411 $ 54,881 Gross gains 536 414 1,010 Gross losses (9 ) (154 ) (170 ) Net tax expense 216 91 294 The following table presents the Company's available for sale securities with continuous unrealized losses and the approximate fair value of these investments as of December 31, 2015 and 2014. 2015 Duration of Unrecognized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrecognized Fair Unrecognized Fair Unrecognized (In thousands) Value Losses Value Losses Value Losses Mortgage-backed securities-residential $ 89,717 $ (345 ) $ 8,913 $ (88 ) $ 98,630 $ (433 ) SBA pool securities — 7,520 (81 ) 7,520 (81 ) Single-issuer trust preferred security — — 2,535 (464 ) 2,535 (464 ) CRA investment fund — — 2,939 (61 ) 2,939 (61 ) Total $ 89,717 $ (345 ) $ 21,907 $ (694 ) $ 111,624 $ (1,039 ) 2014 Duration of Unrecognized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrecognized Fair Unrecognized Fair Unrecognized (In thousands) Value Losses Value Losses Value Losses U.S. government sponsored entities $ 19,119 $ (20 ) $ 2,963 $ (29 ) $ 22,082 $ (49 ) Mortgage-backed securities-residential 65,368 (191 ) 20,428 (220 ) 85,796 (411 ) SBA pool securities 7,944 (71 ) — — 7,944 (71 ) State and political subdivisions 505 (1 ) — — 505 (1 ) Single-issuer trust Preferred security — — 2,400 (599 ) 2,400 (599 ) CRA investment fund — — 2,955 (45 ) 2,955 (45 ) Total $ 92,936 $ (283 ) $ 28,746 $ (893 ) $ 121,682 $ (1,176 ) Management believes that the unrealized losses on investment securities available for sale are temporary and due to interest rate fluctuations and/or volatile market conditions rather than the credit worthiness of the issuers. The Company does not intend to sell these securities nor is it likely that it will be required to sell the securities before their anticipated recovery. At December 31, 2015, the unrealized loss of $ 464 1 No other-than-temporary impairment charges were recognized in 2015, 2014 or 2013.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2015
LOANS [Abstract]
LOANS	3. LOANS The following table presents loans outstanding, by type of loan, as of December 31: % of Total % of Total (Dollars in thousands) 2015 Loans 2014 Loans Residential mortgage $ 470,869 16.16 % $ 466,760 20.74 % Multifamily mortgage 1,416,775 48.63 1,080,256 48.00 Commercial mortgage 413,118 14.18 308,491 13.71 Commercial loans 512,886 17.60 308,743 13.72 Construction loans 1,401 0.05 5,998 0.27 Home equity lines of credit 52,649 1.81 50,141 2.23 Consumer loans, including fixed rate home equity loans 45,044 1.55 28,040 1.25 Other loans 500 0.02 1,838 0.08 Total loans $ 2,913,242 100.00 % $ 2,250,267 100.00 % In determining an appropriate amount for the allowance, the Bank segments and evaluates the loan portfolio based on Federal call report codes. The following portfolio classes have been identified as of December 31: % of Total % of Total (Dollars in thousands) 2015 Loans 2014 Loans Primary residential mortgage $ 483,085 16.59 % $ 480,149 21.37 % Home equity lines of credit 52,804 1.81 50,302 2.24 Junior lien loan on residence 11,503 0.39 11,808 0.52 Multifamily property 1,416,775 48.66 1,080,256 48.07 Owner-occupied commercial real estate 176,276 6.05 105,446 4.69 Investment commercial real estate 568,849 19.54 405,771 18.06 Commercial and industrial 154,295 5.30 81,362 3.62 Farmland/Agricultural production 179 0.01 364 0.02 Commercial construction 151 0.01 4,715 0.21 Consumer and other 47,635 1.64 27,084 1.20 Total loans $ 2,911,552 100.00 % $ 2,247,257 100.00 % Net deferred costs 1,690 3,010 Total loans including net deferred costs $ 2,913,242 $ 2,250,267 In June of 2014, the Company sold $ 67 166 Consistent with the Company's balance sheet management strategy, $ 82.2 In the ordinary course of business, the Company, through the Bank, may extend credit to officers, directors or their associates. These loans are subject to the Company's normal lending policy and Federal Reserve Bank Regulation O. The following table shows the changes in loans to officers, directors or their associates: (In thousands) 2015 2014 Balance, beginning of year $ 4,518 $ 2,216 New loans 1,747 4,302 Repayments (1,985 ) (1,129 ) Loans with individuals no longer considered related parties — (871 ) Balance, at end of year $ 4,280 $ 4,518 The following tables present the loan balances by portfolio segment, based on impairment method, and the corresponding balances in the allowance for loan losses as of December 31, 2015 and 2014: December 31, 2015 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 9,752 $ 291 $ 473,333 $ 2,006 $ 483,085 $ 2,297 Home equity lines of credit 254 — 52,550 86 52,804 86 Junior lien loan on residence 176 — 11,327 66 11,503 66 Multifamily property — — 1,416,775 11,813 1,416,775 11,813 Owner-occupied commercial real estate 1,272 — 175,004 1,679 176,276 1,679 Investment commercial real estate 11,482 61 557,367 7,529 568,849 7,590 Commercial and industrial 171 138 154,124 2,071 154,295 2,209 Secured by farmland and agricultural production — — 179 2 179 2 Commercial construction — — 151 2 151 2 Consumer and other — — 47,635 112 47,635 112 Total ALLL $ 23,107 $ 490 $ 2,888,445 $ 25,366 $ 2,911,552 $ 25,856 December 31, 2014 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 6,500 $ 317 $ 473,649 $ 2,606 $ 480,149 $ 2,923 Home equity lines of credit 210 — 50,092 156 50,302 156 Junior lien loan on residence 164 — 11,644 109 11,808 109 Multifamily property — — 1,080,256 8,983 1,080,256 8,983 Owner-occupied commercial real estate 1,674 — 103,772 1,547 105,446 1,547 Investment commercial real estate 11,653 489 394,118 4,262 405,771 4,751 Commercial and industrial 248 149 81,114 731 81,362 880 Secured by farmland and agricultural production — — 364 4 364 4 Commercial construction — — 4,715 31 4,715 31 Consumer and other 2 2 27,082 94 27,084 96 Total ALLL $ 20,451 $ 957 $ 2,226,806 $ 18,523 $ 2,247,257 $ 19,480 Impaired loans include nonaccrual loans of $ 6.7 6.9 16.2 13.6 441 162 892 204 The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2015 and 2014: December 31, 2015 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 8,998 $ 7,782 $ — $ 5,683 Owner-occupied commercial real estate 1,460 1,272 — 1,379 Investment commercial real estate 11,099 10,233 — 10,330 Commercial and industrial 63 33 — 112 Home equity lines of credit 258 254 — 229 Junior lien loan on residence 219 176 — 166 Consumer and other — — — 1 Total loans with no related allowance $ 22,097 $ 19,750 $ — $ 17,900 With related allowance recorded: Primary residential mortgage $ 2,090 $ 1,970 $ 291 $ 1,894 Investment commercial real estate 1,249 1,249 61 1,266 Commercial and industrial 179 138 138 144 Total loans with related allowance $ 3,518 $ 3,357 $ 490 $ 3,304 Total loans individually evaluated for impairment $ 25,615 $ 23,107 $ 490 $ 21,204 December 31, 2014 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 5,264 $ 4,635 $ — $ 3,543 Owner-occupied commercial real estate 1,809 1,674 — 2,626 Investment commercial real estate 5,423 5,423 — 5,512 Commercial and industrial 99 99 — 155 Home equity lines of credit 210 210 — 111 Junior lien loan on residence 293 164 — 224 Consumer and other — — — 14 Total loans with no related allowance $ 13,098 $ 12,205 $ — $ 12,185 With related allowance recorded: Primary residential mortgage $ 2,138 $ 1,865 $ 317 $ 1,361 Owner-occupied commercial real estate — — — — Investment commercial real estate 6,230 6,230 489 5,927 Commercial and industrial 179 149 149 249 Consumer and other 2 2 2 — Total loans with related allowance $ 8,549 $ 8,246 $ 957 $ 7,537 Total loans individually evaluated for impairment $ 21,647 $ 20,451 $ 957 $ 19,722 Interest income recognized during 2015, 2014 and 2013 was not material. The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2015 and 2014: December 31, 2015 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 4,549 $ — Home equity lines of credit 229 — Junior lien loan on residence 118 — Owner-occupied commercial real estate 1,272 — Investment commercial real estate 408 — Commercial and industrial 171 — Consumer and other — — Total $ 6,747 $ — December 31, 2014 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 4,128 $ — Home equity lines of credit 210 — Junior lien loan on residence 164 — Owner-occupied commercial real estate 1,674 — Investment commercial real estate 424 — Commercial and industrial 248 — Consumer and other 2 — Total $ 6,850 $ — The following tables present the recorded investment in past due loans as of December 31, 2015 and 2014 by class of loans, excluding nonaccrual loans: December 31, 2015 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 1,214 $ 157 $ — $ 1,371 Investment commercial real estate 772 — — 772 Total $ 1,986 $ 157 $ — $ 2,143 December 31, 2014 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 1,102 $ 403 $ — $ 1,505 Home equity lines of credit 99 — — 99 Commercial construction 150 — — 150 Consumer and other 1 — — 1 Total $ 1,352 $ 403 $ — $ 1,755 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. The credit risk rating is re-evaluated annually, as follows: • By credit underwriters for all loans $1,000,000 and over; • Through a limited review by Portfolio Managers with the Chief Credit Officer for loans in an amount of $500,000 up to $1,000,000; • By an external independent loan review firm for all new loans over $500,000 and for existing loans of $3,500,000 and over; • On a proportional basis by an external independent loan review firm for loans from $500,000 up to $3,499,999; • By an external independent loan review firm for all loans with a risk rating of criticized; • On a random sampling basis by an external independent loan review firm for loans under $500,000; • Whenever Management otherwise identifies a positive or negative trend or issue relating to a borrower. The Company uses the following definitions for criticized risk ratings: Special Mention: Substandard: Doubtful: Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-rated loans. The table below presents, based on the most recent analysis performed, the risk category of loans by class of loans for December 31, 2015 and 2014. December 31, 2015 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 471,859 $ 1,332 $ 9,894 $ — Home equity lines of credit 52,550 — 254 — Junior lien loan on residence 11,327 — 176 — Multifamily property 1,407,856 7,718 1,201 — Owner-occupied commercial real estate 170,420 928 4,928 — Investment commercial real estate 536,479 6,217 26,153 — Commercial and industrial 148,940 5,184 171 — Secured by farmland 179 — — — Agricultural production — — — — Commercial construction — 151 — — Consumer and other loans 47,635 — — — Total $ 2,847,245 $ 21,530 $ 42,777 $ — December 31, 2014 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 471,219 $ 1,366 $ 7,564 $ — Home equity lines of credit 50,092 — 210 — Junior lien loan on residence 11,644 — 164 — Multifamily property 1,078,944 490 822 — Owner-occupied commercial real estate 99,432 473 5,541 — Investment commercial real estate 372,865 11,648 21,258 — Commercial and industrial 81,093 21 248 — Secured by farmland 189 — — — Agricultural production 175 — — — Commercial construction 4,565 150 — — Consumer and other loans 27,082 — 2 — Total $ 2,197,300 $ 14,148 $ 35,809 $ — At December 31, 2015, $ 21.8 20.5 The tables below present a rollforward of the allowance for loan losses for the years ended December 31, 2015, 2014 and 2013. January 1, December 31, 2015 2015 Beginning Ending (In thousands) ALLL Charge-Offs Recoveries Provision ALLL Primary residential mortgage $ 2,923 $ (638 ) $ 80 $ (68 ) $ 2,297 Home equity lines of credit 156 (210 ) 2 138 86 Junior lien loan on residence 109 (13 ) 62 (92 ) 66 Multifamily property 8,983 — — 2,830 11,813 Owner-occupied commercial real estate 1,547 — 11 121 1,679 Investment commercial real estate 4,751 (16 ) 18 2,837 7,590 Commercial and industrial 880 (73 ) 81 1,321 2,209 Secured by farmland and agricultural 4 — — (2 ) 2 Commercial construction 31 — — (29 ) 2 Consumer and other 96 (41 ) 13 44 112 Total ALLL $ 19,480 $ (991 ) $ 267 $ 7,100 $ 25,856 January 1, December 31, 2014 2014 Beginning Ending (In thousands) ALLL Charge-Offs Recoveries Provision ALLL Primary residential mortgage $ 2,361 $ (273 ) $ 1 $ 834 $ 2,923 Home equity lines of credit 181 — — (25 ) 156 Junior lien loan on residence 156 (1 ) 103 (149 ) 109 Multifamily property 4,003 — — 4,980 8,983 Owner-occupied commercial real estate 2,563 (669 ) 106 (453 ) 1,547 Investment commercial real estate 5,083 — 18 (350 ) 4,751 Commercial and industrial 825 (123 ) 85 93 880 Secured by farmland and agricultural 3 — — 1 4 Commercial construction 120 — — (89 ) 31 Consumer and other 78 (22 ) 7 33 96 Total ALLL $ 15,373 (1,088 ) 320 4,875 19,480 January 1, December 31, 2013 2013 Beginning Ending (In thousands) ALLL Charge-Offs Recoveries Provision ALLL Primary residential mortgage $ 3,047 $ (611 ) $ 48 $ (123 ) $ 2,361 Home equity lines of credit 267 — — (86 ) 181 Junior lien loan on residence 314 (346 ) 17 171 156 Multifamily property 1,305 — 11 2,687 4,003 Owner-occupied commercial real estate 2,509 — 77 (23 ) 2,563 Investment commercial real estate 4,155 (56 ) 26 958 5,083 Commercial and industrial 803 (16 ) 64 (26 ) 825 Secured by farmland 3 — — — 3 Commercial construction 240 — 1 (121 ) 120 Consumer and other 92 (11 ) 9 (12 ) 78 Total ALLL $ 12,735 $ (1,040 ) $ 253 $ 3,425 $ 15,373 Troubled Debt Restructurings: 441 892 During the period ended December 31, 2015, 2014 and 2013, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; or an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk. The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2015: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 11 $ 3,296 $ 3,296 Junior Lien loan on residence 1 58 58 Investment commercial real estate 1 750 750 Total 13 $ 4,104 $ 4,104 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2014: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 8 $ 2,138 $ 2,138 Investment commercial real estate 1 1,281 1,281 Total 9 $ 3,419 $ 3,419 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2013: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 4 $ 760 $ 760 Investment commercial real estate 1 5,000 5,000 Total 5 $ 5,760 $ 5,760 The identification of the troubled debt restructured loans did not have a significant impact on the allowance for loan losses. In addition, there were no charge-offs as a result of the classification of these loans as troubled debt restructuring during the years ended December 31, 2015, 2014 and 2013. There were no payment defaults on loans modified as troubled debt restructurings within twelve months of modification during the year ending December 31, 2015 and 2014. The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2013 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 1 $ 59 Total 1 $ 59 The defaults described above did not have a material impact on the allowance for loan losses during 2015, 2014 and 2013. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company's internal underwriting policy. At the time a loan is restructured, the Bank performs a full re-underwriting analysis, which includes, at a minimum, obtaining current financial statements and tax returns, copies of all leases, and an updated independent appraisal of the property. A loan will continue to accrue interest if it can be reasonably determined that the borrower should be able to perform under the modified terms, that the loan has not been chronically delinquent (both to debt service and real estate taxes) or in nonaccrual status since its inception, and that there have been no charge-offs on the loan. Restructured loans with previous charge-offs would not accrue interest at the time of the troubled debt restructuring. At a minimum, six months of contractual payments would need to be made on a restructured loan before returning a loan to accrual status. Once a loan is classified as a TDR, the loan is reported as a TDR until the loan is paid in full, sold or charged-off. In rare circumstances, a loan may be removed from TDR status, if it meets the requirements of ASC 310-40-50-2.

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2015
PREMISES AND EQUIPMENT [Abstract]
PREMISES AND EQUIPMENT	4. PREMISES AND EQUIPMENT The following table presents premises and equipment as of December 31, (In thousands) 2015 2014 Land and land improvements $ 4,942 $ 4,932 Buildings 11,970 11,984 Furniture and equipment 16,857 16,621 Leasehold improvements 10,423 10,017 Projects in progress 919 1,405 Capital lease asset 11,237 11,237 56,348 56,196 Less: accumulated depreciation 26,102 23,938 Total $ 30,246 $ 32,258 The Company has included leases in premises and equipment as follows: (In thousands) 2015 2014 Land and buildings $ 11,237 $ 11,237 Less: accumulated depreciation 3,167 2,420 Total $ 8,070 $ 8,817 Projects in progress represents costs associated with renovations to the Company's headquarters in addition to smaller renovation or equipment installation projects at other locations. The Company recorded depreciation expense of $ 3.9 3.0 3.5 The Company leases its corporate headquarters building under a capital lease and in 2014, leased additional space in the building. The lease arrangement requires monthly payments through 2025. Related depreciation expense and accumulated depreciation of $ 607 531 400 The Company also leases its Gladstone branch after completing a sale-leaseback transaction involving the property in 2011. The lease arrangement requires monthly payments through 2031. The gain on the sale of $ 764 141 The following is a schedule by year of future minimum lease payments under capitalized leases, together with the present value of net minimum lease payments as of December 31, 2015: (In thousands) 2016 $ 1,007 2017 1,081 2018 1,127 2019 1,146 2020 1,195 Thereafter 7,819 Total minimum lease payments 13,375 Less: amount representing interest 3,153 Present value of net minimum lease payments $ 10,222 In the fourth quarter of 2015, the Company closed two 2.5 723

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	12 Months Ended
	Dec. 31, 2015
OTHER REAL ESTATE OWNED [Abstract]
OTHER REAL ESTATE OWNED	5. OTHER REAL ESTATE OWNED At December 31, 2015 and 2014, the Company had other real estate owned, net of valuation allowances, totaling $ 563 1.3 The following table shows the activity in other real estate owned, excluding the valuation allowance, for the years ended December 31, (In thousands) 2015 2014 Balance, beginning of year $ 3,744 $ 3,961 OREO properties added 233 744 Sales during year (744 ) (961 ) Balance, end of year $ 3,233 $ 3,744 The following table shows the activity in the valuation allowance for the years ended December 31, (In thousands) 2015 2014 2013 Balance, beginning of year $ 2,420 $ 2,020 $ 1,010 Additions charged to expense 250 400 1,010 Direct writedowns — — — Balance, end of year $ 2,670 $ 2,420 $ 2,020 The following table shows expenses related to other real estate owned for the years ended December 31, (In thousands) 2015 2014 2013 Net (gain)/loss on sales $ — $ (139 ) $ (85 ) Provision for unrealized losses 250 400 1,010 Operating expenses, net of rental income 51 179 179 Total $ 301 $ 440 $ 1,104

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2015
DEPOSITS [Abstract]
DEPOSITS	6. DEPOSITS Time deposits over $250,000 totaled $ 115.6 23.1 The following table sets forth the details of total deposits as of December 31, (Dollars in thousands) 2015 2014 Noninterest-bearing demand deposits $ 419,887 14.30 % $ 366,371 15.94 % Interest-bearing checking 861,697 29.36 600,889 26.14 Savings 115,007 3.92 112,878 4.91 Money market 810,709 27.62 700,069 30.46 Certificates of deposit 434,450 14.80 198,819 8.65 Interest-bearing demand - Brokered 200,000 6.81 188,000 8.18 Certificates of deposit - Brokered 93,720 3.19 131,667 5.73 Total deposits $ 2,935,470 100.00 % $ 2,298,693 100.00 % The scheduled maturities of time deposits as of December 31, 2015 are as follows: (In thousands) 2016 $ 91,115 2017 97,707 2018 171,173 2019 64,466 2020 38,511 Over 5 Years 65,198 Total $ 528,170

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	12 Months Ended
	Dec. 31, 2015
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS [Abstract]
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	7. FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS Advances from FHLB totaled $ 83.7 2014 1.78 At December 31, 2015 and 2014 advances totaling $ 71.7 1.57 428.2 1.1 388.5 815.6 At both December 31, 2015 and December 31, 2014, the Company had $ 12.0 3.01 ten 13.2 13.4 The advances have prepayment penalties. The scheduled principal repayments and maturities of advances as of December 31, 2015 are as follows: (In thousands) 2016 $ 21,897 2017 23,897 2018 34,898 2019 3,000 2020 — Over 5 years — Total $ 83,692 At December 31, 2015 there were overnight borrowings with the FHLB of $ 40.7 0.52 54.6 0.32 885.0 22.0 113.9

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 2015
FAIR VALUE [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 that Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a company's own assumptions about the assumptions that market participants would use in pricing as asset or liability. The Company used the following methods and significant assumptions to estimate the fair value: Investment Securities: Loans Held for Sale, at Fair Value: Derivatives Impaired Loans: Other Real Estate Owned: 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 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 12 The following table summarizes, for the periods indicated, assets measured at fair value on a recurring basis, including financial assets for which the Company has elected the fair value option: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2015 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: Mortgage-backed securities-residential $ 160,607 $ — $ 160,607 $ — SBA pool securities 7,520 — 7,520 — State and political subdivisions 22,029 — 22,029 — Single-issuer trust preferred security 2,535 — 2,535 — CRA investment fund 2,939 2,939 — — Loans held for sale, at fair value 1,558 — 1,558 — Derivatives: Cash flow hedges 104 — 104 — Loan level swaps 1,106 — 1,106 — Total $ 198,398 $ 2,939 $ 195,459 $ — Liabilities: Derivatives: Cash flow hedges (1,434 ) — (1,434 ) — Loan level swaps (1,106 ) — (1,106 ) — Total $ (2,540 ) $ — $ (2,540 ) $ — (In thousands) December 31, 2014 Assets: Securities available for sale: U.S. government-sponsored entities $ 35,670 $ — $ 35,670 $ — Mortgage-backed securities-residential 242,289 — 242,289 — SBA pool securities 7,944 — 7,944 — State and political subdivisions 41,394 — 41,394 — Single-issuer trust preferred security 2,400 — 2,400 — CRA investment fund 2,955 2,955 — — Loans held for sale, at fair value 839 — 839 — Total $ 333,491 $ 2,955 $ 330,536 $ — Liabilities: Derivatives: Cash flow hedges $ (169 ) $ — $ (169 ) $ — Total $ (169 ) $ — $ (169 ) $ — The Company has elected the fair value option for loans held for sale. These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company's policy on loans held for investment. None of these loans are 90 days or more past due or on nonaccrual as of December 31, 2015 and December 31, 2014. The following tables present residential loans held for sale, at fair value for the periods indicated: December 31, 2015 December 31, 2014 Residential loans contractual balance $ 1,536 $ 826 Fair value adjustment 22 13 Total fair value of residential loans held for sale $ 1,558 $ 839 There were no transfers between Level 1 and Level 2 during the year ended December 31, 2015. The following table summarizes, for the periods indicated, assets measured at fair value on a non-recurring basis: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2015 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Primary residential mortgage $ 251 $ — $ — $ 251 OREO 330 — — 330 (In thousands) December 31, 2014 Assets: Impaired loans: Primary residential mortgage $ 543 $ — $ — $ 543 OREO 580 — — 580 Impaired loans that are measured for impairment using the fair value of the collateral for collateral dependent loans, had a recorded investment of $ 299 48 648 105 At both December 31, 2015 and 2014, OREO at fair value represents one commercial property. The Company recorded a valuation allowance of $ 250 400 The carrying amounts and estimated fair values of financial instruments at December 31, 2015 are as follows: Fair Value Measurements at December 31, 2015 Using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 70,160 $ 70,160 $ — $ — $ 70,160 Securities available for sale 195,630 2,939 192,691 — 195,630 FHLB and FRB stock 13,984 — — — N/A Loans held for sale, at fair value 1,558 — 1,558 — 1,558 Loans held for sale, at lower of cost or fair value 82,200 — 82,200 — 82,200 Loans, net of allowance for loan losses 2,887,386 — — 2,865,601 2,865,601 Accrued interest receivable 6,820 — 562 6,258 6,820 Cash flow hedges 104 — 104 — 104 Loan level swaps 1,106 — 1,106 — 1,106 Financial liabilities Deposits $ 2,935,470 $ 2,407,300 $ 526,226 $ — $ 2,933,526 Overnight borrowings 40,700 — 40,700 — 40,700 Federal Home Loan Bank advances 83,692 — 84,409 — 84,409 Accrued interest payable 957 128 829 — 957 Cash flow hedges 1,434 — 1,434 — 1,434 Loan level swaps 1,106 — 1,106 — 1,106 The carrying amounts and estimated fair values of financial instruments at December 31, 2014 are as follows: Fair Value Measurements at December 31, 2014 Using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 31,207 $ 30,707 $ 500 $ — $ 31,207 Securities available for sale 332,652 2,955 329,697 — 332,652 FHLB and FRB stock 11,593 — — — N/A Loans held for sale, at fair value 839 — 839 — 839 Loans, net of allowance for loan losses 2,230,787 — — 2,213,604 2,213,604 Accrued interest receivable 5,371 — 924 4,447 5,371 Financial liabilities Deposits $ 2,298,693 $ 1,968,207 $ 329,579 $ — $ 2,297,786 Overnight borrowings 54,600 — 54,600 54,600 Federal Home Loan Bank advances 83,692 — 84,677 — 84,677 Financial Liabilities Derivatives 169 — 169 — 169 Accrued interest payable 496 103 393 — 496 The methods and assumptions, not previously presented, used to estimate fair values are described as follows: Cash and cash equivalents: FHLB and FRB stock: Loans held for sale, at lower of cost or fair value Loans: Deposits: The fair values disclosed for demand deposits (e.g., interest and checking, savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date, (i.e., the carrying amount) resulting in a Level 1 classification. The carrying amounts of variable-rate certificates of deposit approximate the fair values at the reporting date resulting in Level 2 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. Overnight borrowings: Federal Home Loan Bank advances: Accrued interest receivable/payable: Off-balance sheet instruments:

OTHER OPERATING EXPENSES

OTHER OPERATING EXPENSES	12 Months Ended
	Dec. 31, 2015
OTHER OPERATING EXPENSES [Abstract]
OTHER OPERATING EXPENSES	9. OTHER OPERATING EXPENSES The following table presents the major components of other operating expenses for the years ended December 31, (In thousands) 2015 2014 2013 Professional and legal fees $ 2,747 $ 1,873 $ 2,085 FDIC insurance 2,154 1,381 1,121 Wealth Division other expense 2,147 1,896 1,702 Branch Restructure (Note 4) 1,735 — — Telephone 942 914 696 Advertising 637 594 519 Loan expense 426 532 676 Provision for ORE losses 250 400 1,010 Intangible amortization 82 — — Other operating expenses 5,959 5,746 5,211 Total other operating expenses $ 17,079 $ 13,336 $ 13,020

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
INCOME TAXES [Abstract]
INCOME TAXES	10. INCOME TAXES The income tax expense included in the consolidated financial statements for the years ended December 31, is allocated as follows: (In thousands) 2015 2014 2013 Federal: Current expense/(benefit) $ 13,035 $ 10,251 $ 2,811 Deferred (benefit)/expense (3,210 ) (2,626 ) 1,299 State: Current expense/(benefit) 3,176 625 21 Deferred expense (833 ) 1,146 1,371 Total income tax expense $ 12,168 $ 9,396 $ 5,502 Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 35 (In thousands) 2015 2014 2013 Computed “expected” tax expense $ 11,249 $ 8,500 $ 5,167 (Decrease)/increase in taxes resulting from: Tax-exempt income (316 ) (152 ) (317 ) State income taxes 1,523 1,102 901 Bank owned life insurance income (279 ) (152 ) (243 ) Interest disallowance 40 9 10 Meals and entertainment expense 69 69 Stock-based compensation 86 60 54 Rate adjustment (70 ) — (100 ) Other (134 ) (40 ) (30 ) Total income tax expense $ 12,168 $ 9,396 $ 5,502 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31 are as follows: (In thousands) 2015 2014 Deferred tax assets: Allowance for loan losses $ 10,437 $ 7,957 Valuation allowance for OREO losses 1,084 989 Federal and state net operating loss carryforward 6 9 Lease adjustment 122 149 Federal AMT credit carryforward — 540 Post retirement benefits 445 427 Prepaid alternative minimum assessment 283 283 Contribution limitation 237 34 Charitable contribution carryforward 32 32 Organization costs 24 26 Cash flow hedge 544 69 Stock option expense 414 372 Nonaccrued interest 127 181 Accrued compensation 3,349 2,422 Capital leases 1,407 952 Total gross deferred tax assets $ 18,511 $ 14,442 Deferred tax liabilities: Bank premises and equipment, principally due to differences in depreciation $ 767 $ 920 Unrealized gain on securities available for sale 262 835 Deferred loan origination costs and fees 1,114 1,555 Deferred income 721 603 Investment securities, principally due to the accretion of bond discount 29 19 Other 36 19 Total gross deferred tax liabilities 2,929 3,951 Net deferred tax asset $ 15,582 $ 10,491 Based upon taxes paid and projected future taxable income, Management believes that it is more likely than not that the gross deferred tax assets will be realized. At December 31, 2014 and 2013, the Company had no unrecognized tax benefits. The Company does not expect the amount of unrecognized tax benefits to significantly change in the next twelve months. The Company is subject to U.S. Federal income tax as well as New Jersey income tax. The Company is no longer subject to federal examination for tax years prior to 2012. The tax years of 2012, 2013 and 2014 remains open to federal examination. The Company is no longer subject to New Jersey examination for tax years prior to 2011. The tax years of 2011, 2012, 2013 and 2014 remain open for state examination.

BENEFIT PLANS

BENEFIT PLANS	12 Months Ended
	Dec. 31, 2015
BENEFIT PLANS [Abstract]
BENEFIT PLANS	11. BENEFIT PLANS The Company sponsors a profit sharing plan and a savings plan under Section 401(K) of the Internal Revenue Code, covering substantially all salaried employees over the age of 21 with at least 12 months of service. Under the savings plan, the Company contributes three 850 1.6 1.4 1.9 Contributions to the profit sharing plan are made at the discretion of the Board of Directors and all funds are invested solely in Peapack-Gladstone Financial Corporation common stock. The Company did not contribute to the profit sharing plan in 2015 or 2014. The aggregate contribution to the profit sharing plan was $ 200

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2015
STOCK-BASED COMPENSATION [Abstract]
STOCK-BASED COMPENSATION	12. STOCK-BASED COMPENSATION The Company's 2006 Long-Term Stock Incentive Plan and 2012 Long-Term Stock Incentive Plan allow the granting of shares of the Company's common stock as incentive stock options, nonqualified stock options, restricted stock awards and stock appreciation rights to directors, officers and employees of the Company and its subsidiaries. The total number of shares initially available to grant in active plans was 1,120,000 394,166 Options granted under the long-term stock incentive plans are, in general, exercisable not earlier than one ten five Changes in options outstanding during 2015 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In Thousands) Balance, January 1, 2015 345,189 $ 17.38 Granted during 2015 — — Exercised during 2015 (18,891 ) 12.61 Expired during 2015 (45,750 ) 18.54 Forfeited during 2015 (13,259 ) 13.45 Balance, December 31, 2015 267,289 $ 17.28 4.41 $ 893 Vested and expected to vest (1) 256,140 $ 17.46 4.41 $ 809 Exercisable at December 31, 2015 225,996 $ 17.90 4.01 $ 615 (1) The difference between the shares which are exercisable (fully vested) and those which are expected to vest is due to anticipated forfeitures. The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company's closing stock price on the last trading day of 2015 and the exercise price, multiplied by the number of in-the-money options). The Company's closing stock price on December 31, 2015 was $ 20.62 The aggregate intrinsic value of stock options exercised was $ 142 109 20 There were no stock options granted during 2015. The per share weighted average fair value of stock options granted during 2014 and 2013 was $ 7.50 4.58 2014 2013 Dividend yield 1.02 1.30 Expected volatility 40 39 Expected life 7 7 Risk-free interest rate 2.18 1.14 As of December 31, 2015, there was approximately $ 284 0.60 The Company issued stock awards in 2015, 2014 and 2013. The stock awards were either service based awards or performance based awards. The service based awards vest ratably over a three five 592 1.7 4.6 4.3 1.6 1.5 590 219 234 319 Changes in nonvested shares dependent on performance criteria for 2015 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2015 92,767 $ 18.12 Granted during 2015 — — Vested during 2015 — — Forfeited during 2015 — — Balance, December 31, 2015 92,767 $ 18.12 Changes in nonvested shares not dependent on performance criteria for 2015 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2015 252,328 $ 17.34 Granted during 2015 166,165 21.00 Vested during 2015 (91,364 ) 16.45 Forfeited during 2015 (5,708 ) 19.72 Balance, December 31, 2015 321,421 $ 19.44

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	13. COMMITMENTS AND CONTINGENCIES The Company, in the ordinary course of business, is a party to litigation arising from the conduct of its business. Management does not consider that these actions depart from routine legal proceedings and believes that such actions will not affect its financial position or results of its operations in any material manner. There are various outstanding commitments and contingencies, such as guarantees and credit extensions, including mostly variable-rate loan commitments of $ 282.1 223.0 The Company issues financial standby letters of credit that are irrevocable undertakings by the Company to guarantee payment of a specified financial obligation. Most of the Company's financial standby letters of credit arise in connection with lending relations and have terms of one year or less. The maximum potential future payments the Company could be required to make equals the contract amount of the standby letters of credit and amounted to $ 10.4 3.2 For commitments to originate loans, the Company's maximum exposure to credit risk is represented by the contractual amount of those instruments. Those commitments represent ultimate exposure to credit risk only to the extent that they are subsequently drawn upon by customers. The Company uses the same credit policies and underwriting standards in making loan commitments as it does for on-balance-sheet instruments. For loan commitments, the Company would generally be exposed to interest rate risk from the time a commitment is issued with a defined contractual interest rate. At December 31, 2015, the Company was obligated under non-cancelable operating leases for certain premises. Rental expense aggregated $ 2.6 2.5 2.5 The minimum annual lease payments under the terms of the operating lease agreements, as of December 31, 2015, were as follows: (In thousands) 2016 $ 2,024 2017 1,616 2018 1,460 2019 1,143 2020 1,133 Thereafter 2,946 Total $ 10,322 The Company is also obligated under legally binding and enforceable agreements to purchase goods and services from third parties, including data processing service agreements.

REGULATORY CAPITAL

REGULATORY CAPITAL	12 Months Ended
	Dec. 31, 2015
REGULATORY CAPITAL [Abstract]
REGULATORY CAPITAL	14. REGULATORY CAPITAL Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet minimum capital requirements can initiate certain mandatory – and possibly additional discretionary – actions by regulators that, if undertaken, could have a direct material effect on the Company's and the Bank's financial statements and results of operations. The final rules implementing Basel Committee on Banking Supervision's capital guidelines for U.S. banks (Basel III rules) became effective for the Company on January 1, 2015 with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in by January 1, 2019. The Company has chosen to exclude net unrealized gain or loss on available for sale securities in computing regulatory capital. Capital amounts and ratios for December 31, 2014 are calculated using Basel I rules. Management believes that as of December 31, 2015, the Company and Bank meet all capital adequacy requirements to which they are subject. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. Adequately capitalized institutions must obtain prior regulatory approval to accept brokered deposits. The federal banking agencies are required to take certain supervisory actions (and may take additional discretionary actions) with respect to an undercapitalized institution or its holding company. If an institution is classified as undercapitalized, it is required to submit a capital restoration plan to its federal banking regulators and is prohibited from increasing its assets, engaging in a new line of business, acquiring any interest in any company or insured depository institution, or opening or acquiring a new branch office, except under certain circumstances, including the acceptance by the federal banking regulators of a capital restoration plan for the institution. Furthermore, if an institution is classified as undercapitalized, the federal banking regulators may take certain actions to correct the capital position of the institution. If an institution is classified as significantly undercapitalized or critically undercapitalized, the federal banking regulators would be required to take one or more prompt corrective actions. These actions would include, among other things, requiring sales of new securities to bolster capital, improvements in management, limits on interest rates paid, prohibitions on transactions with affiliates, termination of certain risky activities and restrictions on compensation paid to executive officers. If a bank is classified as critically undercapitalized, the bank must be placed into conservatorship or receivership within 90 days, unless the federal banking regulators determined that other action would better achieve the purposes of the prompt corrective action regime. Any of the foregoing regulatory actions could have a direct material effect on an institution's or its holding company's financial statements. At December 31, 2015 and 2014, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that Management believes have changed the Company's category. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier I risk-based and Tier I leverage ratios as set forth in the table. The Bank's actual capital amounts and ratios are presented in the following table: To Be Well Capitalized Under For Capital Prompt Corrective Adequacy Actual Action Provisions Purposes (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2015: Total capital (to risk-weighted assets) $ 297,497 11.32 % $ 262,719 10.00 % $ 210,176 8.00 % Tier I capital (to risk-weighted assets) 271,641 10.34 210,176 8.00 157,632 6.00 Common equity tier I (to risk-weighted assets) 271,641 10.34 170,768 6.50 118,224 4.50 Tier I capital (to average assets) 271,641 8.04 169,027 5.00 135,221 4.00 As of December 31, 2014: Total capital (to risk-weighted assets) $ 250,112 14.96 % $ 167,160 10.00 % $ 133,728 8.00 % Tier I capital (to risk-weighted assets) 230,632 13.80 100,296 6.00 66,864 4.00 Common equity tier I (to risk-weighted assets) N/A N/A N/A N/A N/A N/A Tier I capital (to average assets) 230,632 8.74 131,895 5.00 105,516 4.00 The Company's actual capital amounts and ratios are presented in the following table: To Be Well Capitalized Under For Capital Prompt Corrective Adequacy Actual Action Provisions Purposes (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2015: Total capital (to risk-weighted assets) $ 299,593 11.40 % $ N/A N/A % $ 210,209 8.00 % Tier I capital (to risk-weighted assets) 273,738 10.42 N/A N/A 157,657 6.00 Common equity tier I (to risk-weighted assets) 273,738 10.42 N/A N/A 118,242 4.50 Tier I capital (to average assets) 273,738 8.10 N/A N/A 135,237 4.00 As of December 31, 2014: Total capital (to risk-weighted assets) $ 259,918 15.55 % $ N/A N/A % $ 133,745 8.00 % Tier I capital (to risk-weighted assets) 240,439 14.38 N/A N/A 66,873 4.00 Common equity tier I (to risk-weighted assets) N/A N/A N/A N/A N/A N/A Tier I capital (to average assets) 240,439 9.11 N/A N/A 105,544 4.00

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2015
DERIVATIVES [Abstract]
DERIVATIVES	15. 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 Swap Designated as Cash Flow Hedge: 180 25 Information about the interest rate swaps designated as cash flow hedges as of December 31, 2015 and 2014 is presented in the following table: (Dollars in thousands) 2015 2014 Notional amount $ 180,000 $ 25,000 Weighted average pay rate 1.64 % 1.81 % Weighted average receive rate 0.29 % 0.21 % Weighted average maturity 4.25 years 5.00 years Unrealized loss $ (1,331 ) $ (169 ) Net Interest expense recorded on these swap transactions totaled $ 1.6 1 Cash Flow Hedge The following table presents the net gains/(losses) recorded in accumulated other comprehensive income and the consolidated financial statements relating to the cash flow derivative instruments for the year ended December 31: 2015 Amount of Amount of Amount of Gain/(Loss) Loss Gain/(Loss) Recognized in Recognized Reclassified Other Non-Interest In OCI From OCI to Expense (In thousands) (Effective Portion) Interest Expense (Ineffective Portion) Interest rate contracts $ (1,162 ) $ — $ — 2014 Amount of Amount of Amount of Gain/(Loss) Loss Gain/(Loss) Recognized in Recognized Reclassified Other Non-Interest In OCI From OCI to Expense (In thousands) (Effective Portion) Interest Expense (Ineffective Portion) Interest rate contracts $ (169 ) $ — $ — The following tables reflect the cash flow hedges included in the financial statements as of December 31, 2015 and 2014: December 31, 2015 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing demand brokered deposits $ 180,000 $ (1,330 ) Total included in other assets 15,000 104 Total included in other liabilities $ 165,000 $ (1,434 ) December 31, 2014 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing demand brokered deposits $ 25,000 $ (169 ) Total included in other assets — — Total included in other liabilities $ 25,000 $ (169 ) Derivatives Not Designated as Accounting Hedges: Information about these swaps is as follows: (Dollars in thousands) December 31, 2015 Notional amount $ 27,259 Fair value $ 1,106 Weighted average pay rates 3.06 % Weighted average receive rates 1.44 % Weighted average maturity 15.8 years

SHAREHOLDERS EQUITY

SHAREHOLDERS EQUITY	12 Months Ended
	Dec. 31, 2015
SHAREHOLDERS' EQUITY [Abstract]
SHAREHOLDERS EQUITY	16. SHAREHOLDERS EQUITY In December 2014, the Company successfully completed the sale of 2,776,215 18.01 48.4 216 48.2 In December 2013, the Company successfully completed the sale of 2,470,588 17.00 41.1 900 40.5 40.5 In addition, the Dividend Reinvestment Plan of Peapack-Gladstone Financial Corporation, or the Plan, allows shareholders of the Company to purchase additional shares of common stock using cash dividends without payment of any brokerage commissions or other charges. In addition, shareholders may also make voluntary cash payments of up to $ 50,000 97 three 665,654 13.6 661,857 416,057 7.4 411,772

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Dec. 31, 2015
BUSINESS SEGMENTS [Abstract]
BUSINESS SEGMENTS	17. BUSINESS SEGMENTS The Company assesses its results among two Banking The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support and sales. Private Wealth Management Division Peapack-Gladstone Bank's Private Wealth Management Division includes asset management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; corporate trust services including services as trustee for pension and profit sharing plans; and other financial planning and advisory services. The following table presents the statements of income and total assets for the Company's reportable segments for the twelve months ended December 31, 2015, 2014 and 2013: Twelve Months Ended December 31, 2015 Wealth (In thousands) Banking Management Total Net interest income $ 80,190 $ 4,262 $ 84,452 Noninterest income 6,434 17,280 23,714 Total income 86,624 21,542 108,166 Provision for loan losses 7,100 — 7,100 Salaries and benefits 32,133 8,145 40,278 Premises and equipment expense 10,634 935 11,569 Other noninterest expense 12,203 4,876 17,079 Total noninterest expense 62,070 13,956 76,026 Income before income tax expense 24,554 7,586 32,140 Income tax expense 9,217 2,951 12,168 Net income $ 15,337 $ 4,635 $ 19,972 Total assets at period end $ 3,328,937 $ 38,440 $ 3,364,659 Twelve Months Ended December 31, 2014 Wealth (In thousands) Banking Management Total Net interest income $ 64,148 $ 3,746 $ 67,894 Noninterest income 5,336 15,471 20,807 Total income 69,484 19,217 88,701 Provision for loan losses 4,875 — 4,875 Salaries and benefits 28,679 7,562 36,241 Premises and equipment expense 9,207 756 9,963 Other noninterest expense 8,922 4,414 13,336 Total noninterest expense 51,683 12,732 64,415 Income before income tax expense 17,801 6,485 24,286 Income tax expense 6,873 2,523 9,396 Net income $ 10,928 $ 3,962 $ 14,890 Total assets at period end $ 2,676,103 $ 26,294 $ 2,702,397 Twelve Months Ended December 31, 2013 Wealth (In thousands) Banking Management Total Net interest income $ 49,209 $ 3,567 $ 52,776 Noninterest income 6,417 14,178 20,595 Total income 55,626 17,745 73,371 Provision for loan losses 3,425 — 3,425 Salaries and benefits 26,504 5,745 32,249 Premises and equipment expense 9,331 583 9,914 Other noninterest expense 8,564 4,456 13,020 Total noninterest expense 47,824 10,784 58,608 Income before income tax expense 7,802 6,961 14,763 Income tax expense 2,908 2,594 5,502 Net income $ 4,894 $ 4,367 $ 9,261 Total assets at period end $ 1,964,514 $ 2,434 $ 1,966,948

ACQUISITION

ACQUISITION	12 Months Ended
	Dec. 31, 2015
ACQUISITION [Abstract]
ACQUISITION	18. ACQUISITION On May 1, 2015, the Company acquired a wealth management company. The acquisition is consistent with the Company's strategy to grow its wealth management business with a focus on high net worth clients. The purchase price was $ 2.8 The fair value of the common shares and warrants issued as part of the consideration was determined based on the closing price of the Company's common shares on the acquisition date. The acquisition resulted in goodwill of $ 1.0 1.8 Consideration (in thousands) Cash $ 800 Equity Instruments 2,000 Fair value of total consideration transferred $ 2,800 Recognized amounts of identifiable assets acquired Customer relationship intangible $ 1,685 Other intangibles 105 Goodwill 1,010 Total assets acquired $ 2,800 Equity instruments paid as a part of consideration included common stock shares of 47,916 139,860 1 7.15 Dividend yield 0.93 % Expected volatility 33.73 % Expected life 7 Years Risk-free interest rate 1.84 % Goodwill totaled $ 1.6 563 1.6 563 1.0 49 The Company conducted its annual impairment analysis and concluded that there is no impairment of goodwill. Acquired intangible assets that have a definite life were as follows at December 31, 2015. Gross Gross Carrying Accumulated (In thousands) Amount Amount Net Amortized intangible assets: Customer relationships $ 1,685 $ 75 $ 1,610 Non-compete agreement 56 7 49 Total $ 1,741 $ 82 $ 1,659 Aggregate amortization expense was $ 82 Estimated amortization expense for each of the next five years is shown in the table below. (In thousands) 2016 $ 123 2017 123 2018 123 2019 123 2020 116 Total $ 608

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	12 Months Ended
	Dec. 31, 2015
SHAREHOLDERS' EQUITY [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME	19. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the years ended December 31, 2015, 2014 and 2013: Amount Other Reclassified Comprehensive Other From Loss Comprehensive Accumulated Twelve Months Balance at Loss Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2014 Reclassifications Loss 2015 2015 Net unrealized holding gain on securities available for sale, net of tax $ 1,321 $ (602 ) $ (311 ) $ (913 ) $ 408 Losses on cash flow hedge $ (100 ) $ (687 ) $ — $ (687 ) $ (787 ) Accumulated other comprehensive income/(loss), net of tax $ 1,221 $ (1,287 ) $ (311 ) $ (1,600 ) $ (379 ) Amount Other Reclassified Comprehensive Other from (Loss) Comprehensive Accumulated Twelve Months Balance at (Loss) Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2013 Reclassifications Income 2013 2014 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ 23 $ 1,467 $ (169 ) $ 1,298 $ 1,321 Losses on cash flow hedge — $ (100 ) $ — $ (100 ) $ (100 ) Accumulated other comprehensive income/ (loss), net of tax $ 23 $ 1,367 $ (169 ) $ 1,198 $ 1,221 Amount Other Reclassified Comprehensive Other from Income Comprehensive Accumulated Twelve Months Balance at Income Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2012 Reclassifications Income 2013 2013 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ 4,299 $ (3,730 ) $ (546 ) $ (4,276 ) $ 23 Losses on cash flow hedge $ — $ — $ — $ — $ — Accumulated other comprehensive income/ (loss), net of tax $ 4,299 $ (3,730 ) $ (546 ) $ (4,276 ) $ 23 The following represents the reclassifications out of accumulated other comprehensive income for the twelve months ended December 31, 2015, 2014 and 2013: Twelve Months Ended December 31, (In thousands) 2015 2014 2013 Affected Line Item in Statements of Income Unrealized gains/(losses) on Realized gain on securities sales, AFS $ 527 $ 260 $ 840 Securities gains, net Realized gain on securities sales, HTM — — — Securities gains, net Gains/(losses) on cash flow hedges — — — Interest expense Income tax expense (216 ) (91 ) (294 ) Income tax expense Total reclassifications, net of tax $ 311 $ 169 $ 546

CONDENSED FINANCIAL STATEMENTS

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY)	12 Months Ended
	Dec. 31, 2015
CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) [Abstract]
CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY)	20. CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) STATEMENTS OF CONDITION December 31, (In thousands) 2015 2014 Assets Cash $ 1,489 $ 9,311 Interest-earning deposits 515 516 Total cash and cash equivalents 2,004 9,827 Securities available for sale — — Investment in subsidiary 273,580 232,461 Other assets 414 220 Total assets $ 275,998 $ 242,508 Liabilities Other liabilities $ 322 $ 241 Total liabilities 322 241 Shareholders' equity Common stock 13,717 12,954 Surplus 213,203 195,829 Treasury stock (8,988 ) (8,988 ) Retained earnings 58,123 41,251 Accumulated other comprehensive (loss)/income, net of income tax benefit (379 ) 1,221 Total shareholders' equity 275,676 242,267 Total liabilities and shareholders' equity $ 275,998 $ 242,508 STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Years Ended December 31, (In thousands) 2015 2014 2013 Income Dividend from Bank $ — $ — $ 1,350 Other income 1 1 9 Securities gains, net — — 2 Total income 1 1 1,361 Expenses Other expenses 525 637 429 Total expenses 525 637 429 (Loss)/income before income tax expense and equity in undistributed earnings of Bank (524 ) (636 ) 932 Income tax benefit (180 ) (216 ) (50 ) Net (loss)/income before equity in undistributed earnings of Bank (344 ) (420 ) 982 Equity in undistributed earnings of Bank/(dividends in excess of earnings) 20,316 15,310 8,279 Net income 19,972 14,890 9,261 Accumulated other comprehensive (loss)/income (1,600 ) 1,198 (4,276 ) Comprehensive income $ 18,372 $ 16,088 $ 4,985 STATEMENTS OF CASH FLOWS Years Ended December 31, (In thousands) 2015 2014 2013 Cash flows from operating activities: Net income $ 19,972 $ 14,890 $ 9,261 Undistributed (earnings)/loss of Bank (20,316 ) (15,310 ) (8,279 ) Gain on securities available for sale — — (2 ) (Increase)/decrease in other assets (194 ) 427 (37 ) Increase/(decrease) in other liabilities 81 (63 ) 179 Net cash (used in)/provided by operating activities (457 ) (56 ) 1,122 Cash flows from investing activities: Capital contribution to subsidiary (18,000 ) (88,674 ) — Proceeds from sales and calls of securities available for sale — — 213 Net cash (used in)/provided by investing activities (18,000 ) (88,674 ) 213 Cash flows from financing activities: Cash dividends paid on common stock (3,100 ) (2,414 ) (1,802 ) Exercise of stock options, net of stock swaps 86 174 30 Net proceeds, rights offering — 48,358 41,100 Issuance of common shares (DRIP program) 13,648 7,429 3,248 Purchase of shares for Profit Sharing Plan — 70 130 Net cash provided by financing activities 10,634 53,617 42,706 Net (decrease)/increase in cash and cash equivalents (7,823 ) (35,113 ) 44,041 Cash and cash equivalents at beginning of period 9,827 44,940 899 Cash and cash equivalents at end of period $ 2,004 $ 9,827 $ 44,940

SUPPLEMENTAL DATA (unaudited)

SUPPLEMENTAL DATA (unaudited)	12 Months Ended
	Dec. 31, 2015
SUPPLEMENTAL DATA (unaudited) [Abstract]
SUPPLEMENTAL DATA (unaudited)	21. SUPPLEMENTAL DATA (unaudited) The following table sets forth certain unaudited quarterly financial data for the periods indicated: Selected 2015 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 22,361 $ 23,852 $ 25,806 $ 27,123 Interest expense 2,778 3,508 4,100 4,304 Net interest income 19,583 20,344 21,706 22,819 Provision for loan losses 1,350 2,200 1,600 1,950 Trust fees 4,031 4,532 4,169 4,307 Securities gains/(losses), net 268 176 83 — Other income 1,583 1,791 1,358 1,416 Operating expenses 15,768 16,266 16,899 19,993 Income before income tax expense 8,347 8,377 8,817 6,599 Income tax expense 3,339 3,139 3,434 2,256 Net income $ 5,008 $ 5,238 $ 5,383 $ 4,343 Earnings per share-basic $ 0.34 $ 0.34 $ 0.35 $ 0.28 Earnings per share-diluted 0.33 0.34 0.35 0.28 Selected 2014 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 16,949 $ 18,630 $ 19,210 $ 20,786 Interest expense 1,378 1,707 2,162 2,434 Net interest income 15,571 16,923 17,048 18,352 Provision for loan losses 1,325 1,150 1,150 1,250 Wealth management fee income 3,754 4,005 3,661 3,822 Securities gains/(losses), net 98 79 39 44 Other income 1,143 1,389 1,352 1,421 Operating expenses 14,339 14,930 14,693 15,578 Income before income tax expense 4,902 6,316 6,257 6,811 Income tax expense 1,871 2,533 2,393 2,599 Net income $ 3,031 $ 3,783 $ 3,864 $ 4,212 Earnings per share-basic $ 0.26 $ 0.32 $ 0.33 $ 0.32 Earnings per share-diluted 0.26 0.32 0.32 0.32 Selected 2013 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 13,432 $ 13,460 $ 14,423 $ 15,738 Interest expense 1,005 1,012 1,050 1,210 Net interest income 12,427 12,448 13,373 14,528 Provision for loan losses 850 500 750 1,325 Wealth management fee income 3,368 3,628 3,295 3,547 Securities gains/(losses), net 289 238 188 125 Other income 1,947 1,370 1,299 1,301 Operating expenses 12,293 14,079 14,165 14,646 Income before income tax expense 4,888 3,105 3,240 3,530 Income tax expense 1,995 1,096 1,276 1,135 Net income $ 2,893 $ 2,009 $ 1,964 $ 2,395 Earnings per share-basic $ 0.33 $ 0.23 $ 0.22 $ 0.25 Earnings per share-diluted 0.32 0.22 0.22 0.25

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Principles of Consolidation and Organization	Principles of Consolidation and Organization: All significant intercompany balances and transactions have been eliminated from the accompanying consolidated financial statements. Business:
Basis of Financial Presentation	Basis of Financial Statement Presentation
Segment Information	Segment Information The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support sales. Peapack-Gladstone Bank's Private Wealth Management Division includes asset management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; corporate trust services including services as trustee for pension and profit sharing plans; and other financial planning and advisory services. This segment also includes the activity from the Delaware subsidiary. Income is recognized as earned.
Cash and Cash Equivalents	Cash and Cash Equivalents: 90
Interest-Earning Deposits in Other Financial Instutions	Interest-Earning Deposits in Other Financial Institutions
Securities	Securities 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. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, Management considers the extent and duration of the unrealized loss and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) other-than-temporary impairment related to credit loss, which must be recognized in the income statement and 2) other-than-temporary impairment related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings.
Federal Home Loan and Federal Reserve Bank Stock	Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock: The Bank is also a member of the Federal Reserve Bank and required to own a certain amount of FRB stock. FRB stock is carried at cost and classified as a restricted security. Cash dividends are reported as income.
Loans Held for Sale	Loans Held for Sale: Mortgage loans held for sale are generally sold with servicing rights released; therefore, no servicing rights are recorded. Gains and losses on sales of mortgage loans, shown as gain on sale of loans on the Statement of Income, are based on the difference between the selling price and the carrying value of the related loan sold. 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 are considered past due when they are not paid in accordance with contractual terms. The accrual of income on loans, including impaired loans, is discontinued if, in the opinion of Management, principal or interest is not likely to be paid in accordance with the terms of the loan agreement, or when principal or interest is past due 90 120
Allowance for Loan Losses	Allowance for Loan Losses: The allowance consists of specific and general components. The specific component of the allowance relates to loans that are individually classified as impaired. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Factors considered by Management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower's prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Loans are individually evaluated for impairment when they are classified as substandard by Management. If a loan is considered impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan's existing rate or at the fair value of collateral less estimated disposition costs if repayment is expected solely from the collateral. If a residential mortgage is placed on nonaccrual status and is in the process of collection, such as through a foreclosure action, then it is evaluated for impairment on an individual basis and the loan is reported, net, at the fair value of the collateral less estimated disposition costs. A troubled debt restructuring is a modified loan with concessions made by the lender to a borrower who is experiencing financial difficulty. Troubled debt restructurings are impaired and are measured at the present value of estimated future cash flows using the loan's effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral, less estimated disposition costs. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component of the allowance covers non-impaired loans and is based primarily on the Bank's historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experience by the Company on a weighted average basis over the previous three years. This actual loss experience is adjusted by other qualitative factors based on the risks present for each portfolio segment. These economic factors include consideration of 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 staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. For loans that are graded as non-impaired, the Company allocates a higher general reserve percentage then pass-rated loans using a multiple that is calculated annually through a migration analysis. At December 31, 2015 and 2014, the multiple was 5.0 2.5 In determining an appropriate amount for the allowance, the Bank segments and evaluates the loan portfolio based on Federal call report codes, which are based on collateral. The following portfolio classes have been identified: Primary Residential Mortgages Home Equity Lines of Credit Junior Lien Loan on Residence Multifamily and Commercial Real Estate Loans Commercial and Industrial Loans Agricultural Production Commercial Construction The Bank has discontinued its commercial construction activity. Dollar amounts within this segment are immaterial. Consumer and Other
Premises and Equipment	Premises and Equipment: three ten 40
Other Real Estate Owned (OREO)	Other Real Estate Owned (OREO):
Bank-Owned Life Insurance	Bank Owned Life Insurance (BOLI):
Loan Commitments and Related Financial Instruments	Loan Commitments and Related Financial Instruments:
Derivatives	Derivatives: 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 balance sheet or to specific firm commitments or forecasted transactions. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings.
Income Taxes	Income Taxes: 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 2012 or by New Jersey tax authorities for years prior to 2011. The Company recognizes interest and/or penalties related to income tax matters in income tax expense.
Benefit Plans	Benefit Plans:
Stock-Based Compensation	Stock-Based Compensation: ten
Employee Stock Purchase Plan	Employee Stock Purchase Plan (“ESPP”): 150,000 one 15 85 100 49 30,766 10,698
Earnings per share - Basic and Diluted	Earnings Per Share (“EPS”): The following table shows the calculation of both basic and diluted earnings per share for the years ended December 31, 2015, 2014 and 2013: (In thousands, except per share data) 2015 2014 2013 Net income available to common shareholders $ 19,972 $ 14,890 $ 9,261 Basic weighted average shares outstanding 15,187,637 12,065,615 9,094,111 Plus: common stock equivalents 247,359 106,492 82,688 Diluted weighted average shares outstanding 15,434,996 12,172,107 9,176,799 Earnings per share: Basic $ 1.31 $ 1.23 $ 1.02 Diluted 1.29 1.22 1.01 Stock options totaling 92,720 478,389 546,950
Loss Contingencies	Loss Contingencies:
Restrictions on cash	Restrictions on Cash:
Comprehensive Income	Comprehensive Income:
Equity	Equity: 20 20
Transfers of Financial Assets	Transfers of Financial Assets:
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Other intangible assets primarily consist of customer relationship intangible assets arising from acquisition are amortized on an accelerated method over their estimated useful lives, which range up to 15
Reclassification	Reclassification:
New Accounting Policies	New Accounting Policies: On January 5, 2016, the FASB issued Accounting Standards Update 2016-01, “Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities” (the ASU). Under this ASU, the current GAAP model is changed in the areas of accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The ASU will be effective for public business entities in fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company is currently in process of evaluating the impact of this ASU on its financial position, and result of operations and cash flows.

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Schedule of calculation of basic and diluted earnings per share	(In thousands, except per share data) 2015 2014 2013 Net income available to common shareholders $ 19,972 $ 14,890 $ 9,261 Basic weighted average shares outstanding 15,187,637 12,065,615 9,094,111 Plus: common stock equivalents 247,359 106,492 82,688 Diluted weighted average shares outstanding 15,434,996 12,172,107 9,176,799 Earnings per share: Basic $ 1.31 $ 1.23 $ 1.02 Diluted 1.29 1.22 1.01

INVESTMENT SECURITIES AVAILAB32

INVESTMENT SECURITIES AVAILABLE FOR SALE (Tables)	12 Months Ended
	Dec. 31, 2015
INVESTMENT SECURITIES AVAILABLE FOR SALE [Abstract]
Schedule of Amortized Cost and Approximate Fair Value of Securities Available for Sale	2015 Gross Gross Amortized Unrecognized Unrecognized Fair (In thousands) Cost Gains Losses Value Mortgage-backed securities-residential $ 159,747 $ 1,293 $ (433 ) $ 160,607 SBA pool securities 7,601 — (81 ) 7,520 State and political subdivisions 21,612 417 — 22,029 Single-issuer trust preferred security 2,999 — (464 ) 2,535 CRA investment fund 3,000 — (61 ) 2,939 Total $ 194,959 $ 1,710 $ (1,039 ) $ 195,630 2014 Gross Gross Amortized Unrecognized Unrecognized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored entities $ 35,664 $ 55 $ (49 ) $ 35,670 Mortgage-backed securities-residential 239,975 2,725 (411 ) 242,289 SBA pool securities 8,015 — (71 ) 7,944 State and political subdivisions 40,842 553 (1 ) 41,394 Single-issuer trust preferred security 2,999 — (599 ) 2,400 CRA investment fund 3,000 — (45 ) 2,955 Total $ 330,495 3,333 (1,176 ) 332,652
Schedule of Securities Classified by Maturity	Maturing in: (In thousands) Amortized Cost Fair Value One year or less $ 7,150 $ 7,167 After one year through five years 8,312 8,484 After five years through ten years 5,066 5,220 After ten years 4,083 3,693 24,611 24,564 Mortgage-backed securities-residential 159,747 160,607 SBA pool securities 7,601 7,520 CRA investment fund 3,000 2,939 Total $ 194,959 $ 195,630
Schedule of Proceeds, Gains, Losses and Tax Effects	(In thousands) 2015 2014 2013 Proceeds on sales $ 46,254 $ 35,411 $ 54,881 Gross gains 536 414 1,010 Gross losses (9 ) (154 ) (170 ) Net tax expense 216 91 294
Schedule of Continuous Unrealized Losses and the Approximate Fair Value of these Investments	2015 Duration of Unrecognized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrecognized Fair Unrecognized Fair Unrecognized (In thousands) Value Losses Value Losses Value Losses Mortgage-backed securities-residential $ 89,717 $ (345 ) $ 8,913 $ (88 ) $ 98,630 $ (433 ) SBA pool securities — 7,520 (81 ) 7,520 (81 ) Single-issuer trust preferred security — — 2,535 (464 ) 2,535 (464 ) CRA investment fund — — 2,939 (61 ) 2,939 (61 ) Total $ 89,717 $ (345 ) $ 21,907 $ (694 ) $ 111,624 $ (1,039 ) 2014 Duration of Unrecognized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrecognized Fair Unrecognized Fair Unrecognized (In thousands) Value Losses Value Losses Value Losses U.S. government sponsored entities $ 19,119 $ (20 ) $ 2,963 $ (29 ) $ 22,082 $ (49 ) Mortgage-backed securities-residential 65,368 (191 ) 20,428 (220 ) 85,796 (411 ) SBA pool securities 7,944 (71 ) — — 7,944 (71 ) State and political subdivisions 505 (1 ) — — 505 (1 ) Single-issuer trust Preferred security — — 2,400 (599 ) 2,400 (599 ) CRA investment fund — — 2,955 (45 ) 2,955 (45 ) Total $ 92,936 $ (283 ) $ 28,746 $ (893 ) $ 121,682 $ (1,176 )

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2015
LOANS [Abstract]
Schedule of composition of loans categorized by the type of loan	% of Total % of Total (Dollars in thousands) 2015 Loans 2014 Loans Residential mortgage $ 470,869 16.16 % $ 466,760 20.74 % Multifamily mortgage 1,416,775 48.63 1,080,256 48.00 Commercial mortgage 413,118 14.18 308,491 13.71 Commercial loans 512,886 17.60 308,743 13.72 Construction loans 1,401 0.05 5,998 0.27 Home equity lines of credit 52,649 1.81 50,141 2.23 Consumer loans, including fixed rate home equity loans 45,044 1.55 28,040 1.25 Other loans 500 0.02 1,838 0.08 Total loans $ 2,913,242 100.00 % $ 2,250,267 100.00 % % of Total % of Total (Dollars in thousands) 2015 Loans 2014 Loans Primary residential mortgage $ 483,085 16.59 % $ 480,149 21.37 % Home equity lines of credit 52,804 1.81 50,302 2.24 Junior lien loan on residence 11,503 0.39 11,808 0.52 Multifamily property 1,416,775 48.66 1,080,256 48.07 Owner-occupied commercial real estate 176,276 6.05 105,446 4.69 Investment commercial real estate 568,849 19.54 405,771 18.06 Commercial and industrial 154,295 5.30 81,362 3.62 Farmland/Agricultural production 179 0.01 364 0.02 Commercial construction 151 0.01 4,715 0.21 Consumer and other 47,635 1.64 27,084 1.20 Total loans $ 2,911,552 100.00 % $ 2,247,257 100.00 % Net deferred costs 1,690 3,010 Total loans including net deferred costs $ 2,913,242 $ 2,250,267
Schedule of loans to executives and directors	(In thousands) 2015 2014 Balance, beginning of year $ 4,518 $ 2,216 New loans 1,747 4,302 Repayments (1,985 ) (1,129 ) Loans with individuals no longer considered related parties — (871 ) Balance, at end of year $ 4,280 $ 4,518
Schedule of loan balances by portfolio segment, based on impairment method, and the corresponding balances in the allowance for loan losses	December 31, 2015 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 9,752 $ 291 $ 473,333 $ 2,006 $ 483,085 $ 2,297 Home equity lines of credit 254 — 52,550 86 52,804 86 Junior lien loan on residence 176 — 11,327 66 11,503 66 Multifamily property — — 1,416,775 11,813 1,416,775 11,813 Owner-occupied commercial real estate 1,272 — 175,004 1,679 176,276 1,679 Investment commercial real estate 11,482 61 557,367 7,529 568,849 7,590 Commercial and industrial 171 138 154,124 2,071 154,295 2,209 Secured by farmland and agricultural production — — 179 2 179 2 Commercial construction — — 151 2 151 2 Consumer and other — — 47,635 112 47,635 112 Total ALLL $ 23,107 $ 490 $ 2,888,445 $ 25,366 $ 2,911,552 $ 25,856 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 6,500 $ 317 $ 473,649 $ 2,606 $ 480,149 $ 2,923 Home equity lines of credit 210 — 50,092 156 50,302 156 Junior lien loan on residence 164 — 11,644 109 11,808 109 Multifamily property — — 1,080,256 8,983 1,080,256 8,983 Owner-occupied commercial real estate 1,674 — 103,772 1,547 105,446 1,547 Investment commercial real estate 11,653 489 394,118 4,262 405,771 4,751 Commercial and industrial 248 149 81,114 731 81,362 880 Secured by farmland and agricultural production — — 364 4 364 4 Commercial construction — — 4,715 31 4,715 31 Consumer and other 2 2 27,082 94 27,084 96 Total ALLL $ 20,451 $ 957 $ 2,226,806 $ 18,523 $ 2,247,257 $ 19,480 January 1, December 31, 2015 2015 Beginning Ending (In thousands) ALLL Charge-Offs Recoveries Provision ALLL Primary residential mortgage $ 2,923 $ (638 ) $ 80 $ (68 ) $ 2,297 Home equity lines of credit 156 (210 ) 2 138 86 Junior lien loan on residence 109 (13 ) 62 (92 ) 66 Multifamily property 8,983 — — 2,830 11,813 Owner-occupied commercial real estate 1,547 — 11 121 1,679 Investment commercial real estate 4,751 (16 ) 18 2,837 7,590 Commercial and industrial 880 (73 ) 81 1,321 2,209 Secured by farmland and agricultural 4 — — (2 ) 2 Commercial construction 31 — — (29 ) 2 Consumer and other 96 (41 ) 13 44 112 Total ALLL $ 19,480 $ (991 ) $ 267 $ 7,100 $ 25,856 January 1, December 31, 2014 2014 Beginning Ending (In thousands) ALLL Charge-Offs Recoveries Provision ALLL Primary residential mortgage $ 2,361 $ (273 ) $ 1 $ 834 $ 2,923 Home equity lines of credit 181 — — (25 ) 156 Junior lien loan on residence 156 (1 ) 103 (149 ) 109 Multifamily property 4,003 — — 4,980 8,983 Owner-occupied commercial real estate 2,563 (669 ) 106 (453 ) 1,547 Investment commercial real estate 5,083 — 18 (350 ) 4,751 Commercial and industrial 825 (123 ) 85 93 880 Secured by farmland and agricultural 3 — — 1 4 Commercial construction 120 — — (89 ) 31 Consumer and other 78 (22 ) 7 33 96 Total ALLL $ 15,373 (1,088 ) 320 4,875 19,480 January 1, December 31, 2013 2013 Beginning Ending (In thousands) ALLL Charge-Offs Recoveries Provision ALLL Primary residential mortgage $ 3,047 $ (611 ) $ 48 $ (123 ) $ 2,361 Home equity lines of credit 267 — — (86 ) 181 Junior lien loan on residence 314 (346 ) 17 171 156 Multifamily property 1,305 — 11 2,687 4,003 Owner-occupied commercial real estate 2,509 — 77 (23 ) 2,563 Investment commercial real estate 4,155 (56 ) 26 958 5,083 Commercial and industrial 803 (16 ) 64 (26 ) 825 Secured by farmland 3 — — — 3 Commercial construction 240 — 1 (121 ) 120 Consumer and other 92 (11 ) 9 (12 ) 78 Total ALLL $ 12,735 $ (1,040 ) $ 253 $ 3,425 $ 15,373
Schedule of loans individually evaluated for impairment	December 31, 2015 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 8,998 $ 7,782 $ — $ 5,683 Owner-occupied commercial real estate 1,460 1,272 — 1,379 Investment commercial real estate 11,099 10,233 — 10,330 Commercial and industrial 63 33 — 112 Home equity lines of credit 258 254 — 229 Junior lien loan on residence 219 176 — 166 Consumer and other — — — 1 Total loans with no related allowance $ 22,097 $ 19,750 $ — $ 17,900 With related allowance recorded: Primary residential mortgage $ 2,090 $ 1,970 $ 291 $ 1,894 Investment commercial real estate 1,249 1,249 61 1,266 Commercial and industrial 179 138 138 144 Total loans with related allowance $ 3,518 $ 3,357 $ 490 $ 3,304 Total loans individually evaluated for impairment $ 25,615 $ 23,107 $ 490 $ 21,204 December 31, 2014 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 5,264 $ 4,635 $ — $ 3,543 Owner-occupied commercial real estate 1,809 1,674 — 2,626 Investment commercial real estate 5,423 5,423 — 5,512 Commercial and industrial 99 99 — 155 Home equity lines of credit 210 210 — 111 Junior lien loan on residence 293 164 — 224 Consumer and other — — — 14 Total loans with no related allowance $ 13,098 $ 12,205 $ — $ 12,185 With related allowance recorded: Primary residential mortgage $ 2,138 $ 1,865 $ 317 $ 1,361 Owner-occupied commercial real estate — — — — Investment commercial real estate 6,230 6,230 489 5,927 Commercial and industrial 179 149 149 249 Consumer and other 2 2 2 — Total loans with related allowance $ 8,549 $ 8,246 $ 957 $ 7,537 Total loans individually evaluated for impairment $ 21,647 $ 20,451 $ 957 $ 19,722
Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual	December 31, 2015 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 4,549 $ — Home equity lines of credit 229 — Junior lien loan on residence 118 — Owner-occupied commercial real estate 1,272 — Investment commercial real estate 408 — Commercial and industrial 171 — Consumer and other — — Total $ 6,747 $ — December 31, 2014 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 4,128 $ — Home equity lines of credit 210 — Junior lien loan on residence 164 — Owner-occupied commercial real estate 1,674 — Investment commercial real estate 424 — Commercial and industrial 248 — Consumer and other 2 — Total $ 6,850 $ —
Schedule of aging of past due loans	December 31, 2015 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 1,214 $ 157 $ — $ 1,371 Investment commercial real estate 772 — — 772 Total $ 1,986 $ 157 $ — $ 2,143 December 31, 2014 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 1,102 $ 403 $ — $ 1,505 Home equity lines of credit 99 — — 99 Commercial construction 150 — — 150 Consumer and other 1 — — 1 Total $ 1,352 $ 403 $ — $ 1,755
Schedule of the risk category of loans by class of loans	Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 471,859 $ 1,332 $ 9,894 $ — Home equity lines of credit 52,550 — 254 — Junior lien loan on residence 11,327 — 176 — Multifamily property 1,407,856 7,718 1,201 — Owner-occupied commercial real estate 170,420 928 4,928 — Investment commercial real estate 536,479 6,217 26,153 — Commercial and industrial 148,940 5,184 171 — Secured by farmland 179 — — — Agricultural production — — — — Commercial construction — 151 — — Consumer and other loans 47,635 — — — Total $ 2,847,245 $ 21,530 $ 42,777 $ — Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 471,219 $ 1,366 $ 7,564 $ — Home equity lines of credit 50,092 — 210 — Junior lien loan on residence 11,644 — 164 — Multifamily property 1,078,944 490 822 — Owner-occupied commercial real estate 99,432 473 5,541 — Investment commercial real estate 372,865 11,648 21,258 — Commercial and industrial 81,093 21 248 — Secured by farmland 189 — — — Agricultural production 175 — — — Commercial construction 4,565 150 — — Consumer and other loans 27,082 — 2 — Total $ 2,197,300 $ 14,148 $ 35,809 $ —
Schedule of loans modified as troubled debt restructurings	Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 11 $ 3,296 $ 3,296 Junior Lien loan on residence 1 58 58 Investment commercial real estate 1 750 750 Total 13 $ 4,104 $ 4,104 Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 8 $ 2,138 $ 2,138 Investment commercial real estate 1 1,281 1,281 Total 9 $ 3,419 $ 3,419 Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 4 $ 760 $ 760 Investment commercial real estate 1 5,000 5,000 Total 5 $ 5,760 $ 5,760 Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 1 $ 59 Total 1 $ 59

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2015
PREMISES AND EQUIPMENT [Abstract]
Schedule of premises and equipment	(In thousands) 2015 2014 Land and land improvements $ 4,942 $ 4,932 Buildings 11,970 11,984 Furniture and equipment 16,857 16,621 Leasehold improvements 10,423 10,017 Projects in progress 919 1,405 Capital lease asset 11,237 11,237 56,348 56,196 Less: accumulated depreciation 26,102 23,938 Total $ 30,246 $ 32,258 (In thousands) 2015 2014 Land and buildings $ 11,237 $ 11,237 Less: accumulated depreciation 3,167 2,420 Total $ 8,070 $ 8,817
Schedule of future minimum lease payments under capitalized leases	(In thousands) 2016 $ 1,007 2017 1,081 2018 1,127 2019 1,146 2020 1,195 Thereafter 7,819 Total minimum lease payments 13,375 Less: amount representing interest 3,153 Present value of net minimum lease payments $ 10,222

OTHER REAL ESTATE OWNED (Tables

OTHER REAL ESTATE OWNED (Tables)	12 Months Ended
	Dec. 31, 2015
OTHER REAL ESTATE OWNED [Abstract]
Schedule of activity in other real estate owned and related valuation allowance	(In thousands) 2015 2014 Balance, beginning of year $ 3,744 $ 3,961 OREO properties added 233 744 Sales during year (744 ) (961 ) Balance, end of year $ 3,233 $ 3,744 (In thousands) 2015 2014 2013 Balance, beginning of year $ 2,420 $ 2,020 $ 1,010 Additions charged to expense 250 400 1,010 Direct writedowns — — — Balance, end of year $ 2,670 $ 2,420 $ 2,020
Schedule of expenses related to other real estate owned	(In thousands) 2015 2014 2013 Net (gain)/loss on sales $ — $ (139 ) $ (85 ) Provision for unrealized losses 250 400 1,010 Operating expenses, net of rental income 51 179 179 Total $ 301 $ 440 $ 1,104

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2015
DEPOSITS [Abstract]
Schedule of deposit liabilities	(Dollars in thousands) 2015 2014 Noninterest-bearing demand deposits $ 419,887 14.30 % $ 366,371 15.94 % Interest-bearing checking 861,697 29.36 600,889 26.14 Savings 115,007 3.92 112,878 4.91 Money market 810,709 27.62 700,069 30.46 Certificates of deposit 434,450 14.80 198,819 8.65 Interest-bearing demand - Brokered 200,000 6.81 188,000 8.18 Certificates of deposit - Brokered 93,720 3.19 131,667 5.73 Total deposits $ 2,935,470 100.00 % $ 2,298,693 100.00 %
Schedule of maturities of time deposits	(In thousands) 2016 $ 91,115 2017 97,707 2018 171,173 2019 64,466 2020 38,511 Over 5 Years 65,198 Total $ 528,170

FEDERAL HOME LOAN BANK ADVANC37

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2015
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS [Abstract]
Schedule of maturity dates of the advances and other borrowings	(In thousands) 2016 $ 21,897 2017 23,897 2018 34,898 2019 3,000 2020 — Over 5 years — Total $ 83,692

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2015
FAIR VALUE [Abstract]
Schedule of assets measured at fair value on a recurring basis	Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2015 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: Mortgage-backed securities-residential $ 160,607 $ — $ 160,607 $ — SBA pool securities 7,520 — 7,520 — State and political subdivisions 22,029 — 22,029 — Single-issuer trust preferred security 2,535 — 2,535 — CRA investment fund 2,939 2,939 — — Loans held for sale, at fair value 1,558 — 1,558 — Derivatives: Cash flow hedges 104 — 104 — Loan level swaps 1,106 — 1,106 — Total $ 198,398 $ 2,939 $ 195,459 $ — Liabilities: Derivatives: Cash flow hedges (1,434 ) — (1,434 ) — Loan level swaps (1,106 ) — (1,106 ) — Total $ (2,540 ) $ — $ (2,540 ) $ — (In thousands) December 31, 2014 Assets: Securities available for sale: U.S. government-sponsored entities $ 35,670 $ — $ 35,670 $ — Mortgage-backed securities-residential 242,289 — 242,289 — SBA pool securities 7,944 — 7,944 — State and political subdivisions 41,394 — 41,394 — Single-issuer trust preferred security 2,400 — 2,400 — CRA investment fund 2,955 2,955 — — Loans held for sale, at fair value 839 — 839 — Total $ 333,491 $ 2,955 $ 330,536 $ — Liabilities: Derivatives: Cash flow hedges $ (169 ) $ — $ (169 ) $ — Total $ (169 ) $ — $ (169 ) $ —
Schedule of residential loans held for sale	December 31, 2015 December 31, 2014 Residential loans contractual balance $ 1,536 $ 826 Fair value adjustment 22 13 Total fair value of residential loans held for sale $ 1,558 $ 839
Schedule of assets measured at fair value on a non- recurring basis	Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2015 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Primary residential mortgage $ 251 $ — $ — $ 251 OREO 330 — — 330 (In thousands) December 31, 2014 Assets: Impaired loans: Primary residential mortgage $ 543 $ — $ — $ 543 OREO 580 — — 580
Schedule of carrying amounts and estimated fair values of financial instruments	Fair Value Measurements at December 31, 2015 Using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 70,160 $ 70,160 $ — $ — $ 70,160 Securities available for sale 195,630 2,939 192,691 — 195,630 FHLB and FRB stock 13,984 — — — N/A Loans held for sale, at fair value 1,558 — 1,558 — 1,558 Loans held for sale, at lower of cost or fair value 82,200 — 82,200 — 82,200 Loans, net of allowance for loan losses 2,887,386 — — 2,865,601 2,865,601 Accrued interest receivable 6,820 — 562 6,258 6,820 Cash flow hedges 104 — 104 — 104 Loan level swaps 1,106 — 1,106 — 1,106 Financial liabilities Deposits $ 2,935,470 $ 2,407,300 $ 526,226 $ — $ 2,933,526 Overnight borrowings 40,700 — 40,700 — 40,700 Federal Home Loan Bank advances 83,692 — 84,409 — 84,409 Accrued interest payable 957 128 829 — 957 Cash flow hedges 1,434 — 1,434 — 1,434 Loan level swaps 1,106 — 1,106 — 1,106 Fair Value Measurements at December 31, 2014 Using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 31,207 $ 30,707 $ 500 $ — $ 31,207 Securities available for sale 332,652 2,955 329,697 — 332,652 FHLB and FRB stock 11,593 — — — N/A Loans held for sale, at fair value 839 — 839 — 839 Loans, net of allowance for loan losses 2,230,787 — — 2,213,604 2,213,604 Accrued interest receivable 5,371 — 924 4,447 5,371 Financial liabilities Deposits $ 2,298,693 $ 1,968,207 $ 329,579 $ — $ 2,297,786 Overnight borrowings 54,600 — 54,600 54,600 Federal Home Loan Bank advances 83,692 — 84,677 — 84,677 Financial Liabilities Derivatives 169 — 169 — 169 Accrued interest payable 496 103 393 — 496

OTHER OPERATING EXPENSES (Table

OTHER OPERATING EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2015
OTHER OPERATING EXPENSES [Abstract]
Schedule of components of other operating expenses	(In thousands) 2015 2014 2013 Professional and legal fees $ 2,747 $ 1,873 $ 2,085 FDIC insurance 2,154 1,381 1,121 Wealth Division other expense 2,147 1,896 1,702 Branch Restructure (Note 4) 1,735 — — Telephone 942 914 696 Advertising 637 594 519 Loan expense 426 532 676 Provision for ORE losses 250 400 1,010 Intangible amortization 82 — — Other operating expenses 5,959 5,746 5,211 Total other operating expenses $ 17,079 $ 13,336 $ 13,020

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2015
INCOME TAXES [Abstract]
Schedule of income tax expense	(In thousands) 2015 2014 2013 Federal: Current expense/(benefit) $ 13,035 $ 10,251 $ 2,811 Deferred (benefit)/expense (3,210 ) (2,626 ) 1,299 State: Current expense/(benefit) 3,176 625 21 Deferred expense (833 ) 1,146 1,371 Total income tax expense $ 12,168 $ 9,396 $ 5,502
Schedule of income tax reconciliation	(In thousands) 2015 2014 2013 Computed “expected” tax expense $ 11,249 $ 8,500 $ 5,167 (Decrease)/increase in taxes resulting from: Tax-exempt income (316 ) (152 ) (317 ) State income taxes 1,523 1,102 901 Bank owned life insurance income (279 ) (152 ) (243 ) Interest disallowance 40 9 10 Meals and entertainment expense 69 69 Stock-based compensation 86 60 54 Rate adjustment (70 ) — (100 ) Other (134 ) (40 ) (30 ) Total income tax expense $ 12,168 $ 9,396 $ 5,502
Schedule of deferred tax assets and liabilities	(In thousands) 2015 2014 Deferred tax assets: Allowance for loan losses $ 10,437 $ 7,957 Valuation allowance for OREO losses 1,084 989 Federal and state net operating loss carryforward 6 9 Lease adjustment 122 149 Federal AMT credit carryforward — 540 Post retirement benefits 445 427 Prepaid alternative minimum assessment 283 283 Contribution limitation 237 34 Charitable contribution carryforward 32 32 Organization costs 24 26 Cash flow hedge 544 69 Stock option expense 414 372 Nonaccrued interest 127 181 Accrued compensation 3,349 2,422 Capital leases 1,407 952 Total gross deferred tax assets $ 18,511 $ 14,442 Deferred tax liabilities: Bank premises and equipment, principally due to differences in depreciation $ 767 $ 920 Unrealized gain on securities available for sale 262 835 Deferred loan origination costs and fees 1,114 1,555 Deferred income 721 603 Investment securities, principally due to the accretion of bond discount 29 19 Other 36 19 Total gross deferred tax liabilities 2,929 3,951 Net deferred tax asset $ 15,582 $ 10,491

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2015
STOCK-BASED COMPENSATION [Abstract]
Schedule of stock option plans, changes in options outstanding	Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In Thousands) Balance, January 1, 2015 345,189 $ 17.38 Granted during 2015 — — Exercised during 2015 (18,891 ) 12.61 Expired during 2015 (45,750 ) 18.54 Forfeited during 2015 (13,259 ) 13.45 Balance, December 31, 2015 267,289 $ 17.28 4.41 $ 893 Vested and expected to vest (1) 256,140 $ 17.46 4.41 $ 809 Exercisable at December 31, 2015 225,996 $ 17.90 4.01 $ 615 (1) The difference between the shares which are exercisable (fully vested) and those which are expected to vest is due to anticipated forfeitures.
Schedule of weighted average assumption	2014 2013 Dividend yield 1.02 1.30 Expected volatility 40 39 Expected life 7 7 Risk-free interest rate 2.18 1.14
Schedule of changes in nonvested performance-based shares	Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2015 92,767 $ 18.12 Granted during 2015 — — Vested during 2015 — — Forfeited during 2015 — — Balance, December 31, 2015 92,767 $ 18.12
Schedule of changes in nonvested shares	Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2015 252,328 $ 17.34 Granted during 2015 166,165 21.00 Vested during 2015 (91,364 ) 16.45 Forfeited during 2015 (5,708 ) 19.72 Balance, December 31, 2015 321,421 $ 19.44

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
Schedule of minimum annual lease payments under operating leases	(In thousands) 2016 $ 2,024 2017 1,616 2018 1,460 2019 1,143 2020 1,133 Thereafter 2,946 Total $ 10,322

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2015
REGULATORY CAPITAL [Abstract]
Schedule of regulatory capital	To Be Well Capitalized Under For Capital Prompt Corrective Adequacy Actual Action Provisions Purposes (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2015: Total capital (to risk-weighted assets) $ 297,497 11.32 % $ 262,719 10.00 % $ 210,176 8.00 % Tier I capital (to risk-weighted assets) 271,641 10.34 210,176 8.00 157,632 6.00 Common equity tier I (to risk-weighted assets) 271,641 10.34 170,768 6.50 118,224 4.50 Tier I capital (to average assets) 271,641 8.04 169,027 5.00 135,221 4.00 As of December 31, 2014: Total capital (to risk-weighted assets) $ 250,112 14.96 % $ 167,160 10.00 % $ 133,728 8.00 % Tier I capital (to risk-weighted assets) 230,632 13.80 100,296 6.00 66,864 4.00 Common equity tier I (to risk-weighted assets) N/A N/A N/A N/A N/A N/A Tier I capital (to average assets) 230,632 8.74 131,895 5.00 105,516 4.00 To Be Well Capitalized Under For Capital Prompt Corrective Adequacy Actual Action Provisions Purposes (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2015: Total capital (to risk-weighted assets) $ 299,593 11.40 % $ N/A N/A % $ 210,209 8.00 % Tier I capital (to risk-weighted assets) 273,738 10.42 N/A N/A 157,657 6.00 Common equity tier I (to risk-weighted assets) 273,738 10.42 N/A N/A 118,242 4.50 Tier I capital (to average assets) 273,738 8.10 N/A N/A 135,237 4.00 As of December 31, 2014: Total capital (to risk-weighted assets) $ 259,918 15.55 % $ N/A N/A % $ 133,745 8.00 % Tier I capital (to risk-weighted assets) 240,439 14.38 N/A N/A 66,873 4.00 Common equity tier I (to risk-weighted assets) N/A N/A N/A N/A N/A N/A Tier I capital (to average assets) 240,439 9.11 N/A N/A 105,544 4.00

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2015
DERIVATIVES [Abstract]
Schedule of Information about Derivatives	(Dollars in thousands) 2015 2014 Notional amount $ 180,000 $ 25,000 Weighted average pay rate 1.64 % 1.81 % Weighted average receive rate 0.29 % 0.21 % Weighted average maturity 4.25 years 5.00 years Unrealized loss $ (1,331 ) $ (169 ) (Dollars in thousands) December 31, 2015 Notional amount $ 27,259 Fair value $ 1,106 Weighted average pay rates 3.06 % Weighted average receive rates 1.44 % Weighted average maturity 15.8 years
Schedule of Net Gains/(Losses)	2015 Amount of Amount of Amount of Gain/(Loss) Loss Gain/(Loss) Recognized in Recognized Reclassified Other Non-Interest In OCI From OCI to Expense (In thousands) (Effective Portion) Interest Expense (Ineffective Portion) Interest rate contracts $ (1,162 ) $ — $ — 2014 Amount of Amount of Amount of Gain/(Loss) Loss Gain/(Loss) Recognized in Recognized Reclassified Other Non-Interest In OCI From OCI to Expense (In thousands) (Effective Portion) Interest Expense (Ineffective Portion) Interest rate contracts $ (169 ) $ — $ —
Schedule of Notional Amount and Fair Value	December 31, 2015 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing demand brokered deposits $ 180,000 $ (1,330 ) Total included in other assets 15,000 104 Total included in other liabilities $ 165,000 $ (1,434 ) December 31, 2014 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing demand brokered deposits $ 25,000 $ (169 ) Total included in other assets — — Total included in other liabilities $ 25,000 $ (169 )

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2015
BUSINESS SEGMENTS [Abstract]
Schedule of income and total assets for reportable segments	Twelve Months Ended December 31, 2015 Wealth (In thousands) Banking Management Total Net interest income $ 80,190 $ 4,262 $ 84,452 Noninterest income 6,434 17,280 23,714 Total income 86,624 21,542 108,166 Provision for loan losses 7,100 — 7,100 Salaries and benefits 32,133 8,145 40,278 Premises and equipment expense 10,634 935 11,569 Other noninterest expense 12,203 4,876 17,079 Total noninterest expense 62,070 13,956 76,026 Income before income tax expense 24,554 7,586 32,140 Income tax expense 9,217 2,951 12,168 Net income $ 15,337 $ 4,635 $ 19,972 Total assets at period end $ 3,328,937 $ 38,440 $ 3,364,659 Twelve Months Ended December 31, 2014 Wealth (In thousands) Banking Management Total Net interest income $ 64,148 $ 3,746 $ 67,894 Noninterest income 5,336 15,471 20,807 Total income 69,484 19,217 88,701 Provision for loan losses 4,875 — 4,875 Salaries and benefits 28,679 7,562 36,241 Premises and equipment expense 9,207 756 9,963 Other noninterest expense 8,922 4,414 13,336 Total noninterest expense 51,683 12,732 64,415 Income before income tax expense 17,801 6,485 24,286 Income tax expense 6,873 2,523 9,396 Net income $ 10,928 $ 3,962 $ 14,890 Total assets at period end $ 2,676,103 $ 26,294 $ 2,702,397 Twelve Months Ended December 31, 2013 Wealth (In thousands) Banking Management Total Net interest income $ 49,209 $ 3,567 $ 52,776 Noninterest income 6,417 14,178 20,595 Total income 55,626 17,745 73,371 Provision for loan losses 3,425 — 3,425 Salaries and benefits 26,504 5,745 32,249 Premises and equipment expense 9,331 583 9,914 Other noninterest expense 8,564 4,456 13,020 Total noninterest expense 47,824 10,784 58,608 Income before income tax expense 7,802 6,961 14,763 Income tax expense 2,908 2,594 5,502 Net income $ 4,894 $ 4,367 $ 9,261 Total assets at period end $ 1,964,514 $ 2,434 $ 1,966,948

ACQUISITION (Tables)

ACQUISITION (Tables)	12 Months Ended
	Dec. 31, 2015
ACQUISITION [Abstract]
Summary of Consideration Paid and Amounts of Assets Acquired	Consideration (in thousands) Cash $ 800 Equity Instruments 2,000 Fair value of total consideration transferred $ 2,800 Recognized amounts of identifiable assets acquired Customer relationship intangible $ 1,685 Other intangibles 105 Goodwill 1,010 Total assets acquired $ 2,800
Schedule of Warrants	Dividend yield 0.93 % Expected volatility 33.73 % Expected life 7 Years Risk-free interest rate 1.84 %
Schedule of Intangible Assets	Gross Gross Carrying Accumulated (In thousands) Amount Amount Net Amortized intangible assets: Customer relationships $ 1,685 $ 75 $ 1,610 Non-compete agreement 56 7 49 Total $ 1,741 $ 82 $ 1,659
Schedule of Estimated Amortization Expense	(In thousands) 2016 $ 123 2017 123 2018 123 2019 123 2020 116 Total $ 608

ACCUMULATED OTHER COMPREHENSI47

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	12 Months Ended
	Dec. 31, 2015
SHAREHOLDERS' EQUITY [Abstract]
Schedule of accumulated other comprehensive income balances, net of tax	Amount Other Reclassified Comprehensive Other From Loss Comprehensive Accumulated Twelve Months Balance at Loss Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2014 Reclassifications Loss 2015 2015 Net unrealized holding gain on securities available for sale, net of tax $ 1,321 $ (602 ) $ (311 ) $ (913 ) $ 408 Losses on cash flow hedge $ (100 ) $ (687 ) $ — $ (687 ) $ (787 ) Accumulated other comprehensive income/(loss), net of tax $ 1,221 $ (1,287 ) $ (311 ) $ (1,600 ) $ (379 ) Amount Other Reclassified Comprehensive Other from (Loss) Comprehensive Accumulated Twelve Months Balance at (Loss) Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2013 Reclassifications Income 2013 2014 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ 23 $ 1,467 $ (169 ) $ 1,298 $ 1,321 Losses on cash flow hedge — $ (100 ) $ — $ (100 ) $ (100 ) Accumulated other comprehensive income/ (loss), net of tax $ 23 $ 1,367 $ (169 ) $ 1,198 $ 1,221 Amount Other Reclassified Comprehensive Other from Income Comprehensive Accumulated Twelve Months Balance at Income Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2012 Reclassifications Income 2013 2013 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ 4,299 $ (3,730 ) $ (546 ) $ (4,276 ) $ 23 Losses on cash flow hedge $ — $ — $ — $ — $ — Accumulated other comprehensive income/ (loss), net of tax $ 4,299 $ (3,730 ) $ (546 ) $ (4,276 ) $ 23
Schedule of the reclassifications out of accumulated other comprehensive income	Twelve Months Ended December 31, (In thousands) 2015 2014 2013 Affected Line Item in Statements of Income Unrealized gains/(losses) on Realized gain on securities sales, AFS $ 527 $ 260 $ 840 Securities gains, net Realized gain on securities sales, HTM — — — Securities gains, net Gains/(losses) on cash flow hedges — — — Interest expense Income tax expense (216 ) (91 ) (294 ) Income tax expense Total reclassifications, net of tax $ 311 $ 169 $ 546

CONDENSED FINANCIAL STATEMENT48

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (Tables)	12 Months Ended
	Dec. 31, 2015
CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) [Abstract]
Schedule of Condensed Statements of Condition	December 31, (In thousands) 2015 2014 Assets Cash $ 1,489 $ 9,311 Interest-earning deposits 515 516 Total cash and cash equivalents 2,004 9,827 Securities available for sale — — Investment in subsidiary 273,580 232,461 Other assets 414 220 Total assets $ 275,998 $ 242,508 Liabilities Other liabilities $ 322 $ 241 Total liabilities 322 241 Shareholders' equity Common stock 13,717 12,954 Surplus 213,203 195,829 Treasury stock (8,988 ) (8,988 ) Retained earnings 58,123 41,251 Accumulated other comprehensive (loss)/income, net of income tax benefit (379 ) 1,221 Total shareholders' equity 275,676 242,267 Total liabilities and shareholders' equity $ 275,998 $ 242,508
Schedule of Condensed Statments of Income	Years Ended December 31, (In thousands) 2015 2014 2013 Income Dividend from Bank $ — $ — $ 1,350 Other income 1 1 9 Securities gains, net — — 2 Total income 1 1 1,361 Expenses Other expenses 525 637 429 Total expenses 525 637 429 (Loss)/income before income tax expense and equity in undistributed earnings of Bank (524 ) (636 ) 932 Income tax benefit (180 ) (216 ) (50 ) Net (loss)/income before equity in undistributed earnings of Bank (344 ) (420 ) 982 Equity in undistributed earnings of Bank/(dividends in excess of earnings) 20,316 15,310 8,279 Net income 19,972 14,890 9,261 Accumulated other comprehensive (loss)/income (1,600 ) 1,198 (4,276 ) Comprehensive income $ 18,372 $ 16,088 $ 4,985
Schedule of Condensed Statements of Cash Flows	Years Ended December 31, (In thousands) 2015 2014 2013 Cash flows from operating activities: Net income $ 19,972 $ 14,890 $ 9,261 Undistributed (earnings)/loss of Bank (20,316 ) (15,310 ) (8,279 ) Gain on securities available for sale — — (2 ) (Increase)/decrease in other assets (194 ) 427 (37 ) Increase/(decrease) in other liabilities 81 (63 ) 179 Net cash (used in)/provided by operating activities (457 ) (56 ) 1,122 Cash flows from investing activities: Capital contribution to subsidiary (18,000 ) (88,674 ) — Proceeds from sales and calls of securities available for sale — — 213 Net cash (used in)/provided by investing activities (18,000 ) (88,674 ) 213 Cash flows from financing activities: Cash dividends paid on common stock (3,100 ) (2,414 ) (1,802 ) Exercise of stock options, net of stock swaps 86 174 30 Net proceeds, rights offering — 48,358 41,100 Issuance of common shares (DRIP program) 13,648 7,429 3,248 Purchase of shares for Profit Sharing Plan — 70 130 Net cash provided by financing activities 10,634 53,617 42,706 Net (decrease)/increase in cash and cash equivalents (7,823 ) (35,113 ) 44,041 Cash and cash equivalents at beginning of period 9,827 44,940 899 Cash and cash equivalents at end of period $ 2,004 $ 9,827 $ 44,940

SUPPLEMENTAL DATA (unaudited) (

SUPPLEMENTAL DATA (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
SUPPLEMENTAL DATA (unaudited) [Abstract]
Schedule of unaudited quarterly financial data	Selected 2015 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 22,361 $ 23,852 $ 25,806 $ 27,123 Interest expense 2,778 3,508 4,100 4,304 Net interest income 19,583 20,344 21,706 22,819 Provision for loan losses 1,350 2,200 1,600 1,950 Trust fees 4,031 4,532 4,169 4,307 Securities gains/(losses), net 268 176 83 — Other income 1,583 1,791 1,358 1,416 Operating expenses 15,768 16,266 16,899 19,993 Income before income tax expense 8,347 8,377 8,817 6,599 Income tax expense 3,339 3,139 3,434 2,256 Net income $ 5,008 $ 5,238 $ 5,383 $ 4,343 Earnings per share-basic $ 0.34 $ 0.34 $ 0.35 $ 0.28 Earnings per share-diluted 0.33 0.34 0.35 0.28 Selected 2014 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 16,949 $ 18,630 $ 19,210 $ 20,786 Interest expense 1,378 1,707 2,162 2,434 Net interest income 15,571 16,923 17,048 18,352 Provision for loan losses 1,325 1,150 1,150 1,250 Wealth management fee income 3,754 4,005 3,661 3,822 Securities gains/(losses), net 98 79 39 44 Other income 1,143 1,389 1,352 1,421 Operating expenses 14,339 14,930 14,693 15,578 Income before income tax expense 4,902 6,316 6,257 6,811 Income tax expense 1,871 2,533 2,393 2,599 Net income $ 3,031 $ 3,783 $ 3,864 $ 4,212 Earnings per share-basic $ 0.26 $ 0.32 $ 0.33 $ 0.32 Earnings per share-diluted 0.26 0.32 0.32 0.32 Selected 2013 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 13,432 $ 13,460 $ 14,423 $ 15,738 Interest expense 1,005 1,012 1,050 1,210 Net interest income 12,427 12,448 13,373 14,528 Provision for loan losses 850 500 750 1,325 Wealth management fee income 3,368 3,628 3,295 3,547 Securities gains/(losses), net 289 238 188 125 Other income 1,947 1,370 1,299 1,301 Operating expenses 12,293 14,079 14,165 14,646 Income before income tax expense 4,888 3,105 3,240 3,530 Income tax expense 1,995 1,096 1,276 1,135 Net income $ 2,893 $ 2,009 $ 1,964 $ 2,395 Earnings per share-basic $ 0.33 $ 0.23 $ 0.22 $ 0.25 Earnings per share-diluted 0.32 0.22 0.22 0.25

SUMMARY OF SIGNIFICANT ACCOUN50

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative - Other) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013$ / sharesshares
Threshold for determining nonaccrual status	90 days
Number of share purchase rights authorized	1,120,000
Antidilutive securities	92,720	478,389	546,950
Cash dividends declared on common stock, per share | $ / shares	$ 0.20	$ 0.20	$ 0.20
Intangibles, estimated useful life	15 years
Substandard [Member]
Loan reserve multiple	5
Special Mention [Member]
Loan reserve multiple	2.5
Commercial Portfolio Segment [Member]
Threshold for determining nonaccrual status	120 days
Employee Stock [Member]
Number of share purchase rights authorized	150,000
Percentage of closing market price on purchase date	85.00%
Compensation cost | $	$ 100	$ 49
Issuance of shares for Employee Stock Purchase Plan, shares	30,766	10,698
Employee Stock [Member] | Minimum [Member]
Percentage of compensation contributable	1.00%
Employee Stock [Member] | Maximum [Member]
Percentage of compensation contributable	15.00%
Equipment [Member] | Minimum [Member]
Useful life	3 years
Equipment [Member] | Maximum [Member]
Useful life	10 years
Premises [Member]
Useful life	40 years

SUMMARY OF SIGNIFICANT ACCOUN51

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Earnings per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Net income available to common shareholders													$ 19,972	$ 14,890	$ 9,261
Basic weighted average common shares outstanding (in shares)													15,187,637	12,065,615	9,094,111
Plus: common stock equivalents													247,359	106,492	82,688
Diluted weighted-average common shares outstanding													15,434,996	12,172,107	9,176,799
Net Income Per Common Share
Basic	$ 0.28	$ 0.35	$ 0.34	$ 0.34	$ 0.32	$ 0.33	$ 0.32	$ 0.26	$ 0.25	$ 0.22	$ 0.23	$ 0.33	$ 1.31	$ 1.23	$ 1.02
Diluted	$ 0.28	$ 0.35	$ 0.34	$ 0.33	$ 0.32	$ 0.32	$ 0.32	$ 0.26	$ 0.25	$ 0.22	$ 0.22	$ 0.32	$ 1.29	$ 1.22	$ 1.01

INVESTMENT SECURITIES AVAILAB52

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Amortized Cost and Approximate Fair Value) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Amortized Cost	$ 194,959	$ 330,495
Gross Unrealized Gains	1,710	3,333
Gross Unrealized Losses	(1,039)	(1,176)
Fair Value	195,630	332,652
U.S. Government-Sponsored Entities [Member]
Amortized Cost		35,664
Gross Unrealized Gains		55
Gross Unrealized Losses		(49)
Fair Value		35,670
Mortgage-Backed Securities-Residential [Member]
Amortized Cost	159,747	239,975
Gross Unrealized Gains	1,293	2,725
Gross Unrealized Losses	(433)	(411)
Fair Value	160,607	242,289
SBA Pool Securities [Member]
Amortized Cost	$ 7,601	$ 8,015
Gross Unrealized Gains
Gross Unrealized Losses	$ (81)	$ (71)
Fair Value	7,520	7,944
State and Political Subdivisions [Member]
Amortized Cost	21,612	40,842
Gross Unrealized Gains	$ 417	553
Gross Unrealized Losses		(1)
Fair Value	$ 22,029	41,394
Single-Issuer Trust Preferred Security [Member]
Amortized Cost	$ 2,999	$ 2,999
Gross Unrealized Gains
Gross Unrealized Losses	$ (464)	$ (599)
Fair Value	2,535	2,400
CRA Investment Fund [Member]
Amortized Cost	$ 3,000	$ 3,000
Gross Unrealized Gains
Gross Unrealized Losses	$ (61)	$ (45)
Fair Value	$ 2,939	$ 2,955

INVESTMENT SECURITIES AVAILAB53

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Securities by Maturity) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Amortized Cost:
Total Amortized Cost	$ 194,959
Fair Value:
Total Fair Value	195,630
Available-for-sale Securities [Member]
Amortized Cost:
Due in one year or less	7,150
Due after one year through five years	8,312
Due after five years through ten years	5,066
Due after ten years	4,083
Total Amortized Cost	24,611
Fair Value:
Due in one year or less	7,167
Due after one year through five years	8,484
Due after five years through ten years	5,220
Due after ten years	3,693
Total Fair Value	24,564
Mortgage-Backed Securities-Residential [Member]
Amortized Cost:
Total Amortized Cost	159,747
Fair Value:
Total Fair Value	160,607
SBA Pool Securities [Member]
Amortized Cost:
Total Amortized Cost	7,601
Fair Value:
Total Fair Value	7,520
CRA Investment Fund [Member]
Amortized Cost:
Total Amortized Cost	3,000
Fair Value:
Total Fair Value	$ 2,939

INVESTMENT SECURITIES AVAILAB54

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Gross Gains, Gross Losses and Net Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
INVESTMENT SECURITIES AVAILABLE FOR SALE [Abstract]
Available for sale securities pledged as collateral	$ 136,000	$ 46,400
Proceeds on sales	46,254	35,411	$ 54,881
Gross gains	536	414	1,010
Gross losses	(9)	(154)	(170)
Net tax expense	$ 216	$ 91	$ 294

INVESTMENT SECURITIES AVAILAB55

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Securities with Continuous Unrealized Losses) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Approximate Fair Value
Less Than 12 Months	$ 89,717	$ 92,936
12 Months or Longer	21,907	28,746
Total	111,624	121,682
Unrealized Losses
Less Than 12 Months	(345)	(283)
12 Months or Longer	(694)	(893)
Total	(1,039)	(1,176)
U.S. Government-Sponsored Entities [Member]
Approximate Fair Value
Less Than 12 Months		19,119
12 Months or Longer		2,963
Total		22,082
Unrealized Losses
Less Than 12 Months		(20)
12 Months or Longer		(29)
Total		(49)
Mortgage-Backed Securities-Residential [Member]
Approximate Fair Value
Less Than 12 Months	89,717	65,368
12 Months or Longer	8,913	20,428
Total	98,630	85,796
Unrealized Losses
Less Than 12 Months	(345)	(191)
12 Months or Longer	(88)	(220)
Total	$ (433)	(411)
SBA Pool Securities [Member]
Approximate Fair Value
Less Than 12 Months		$ 7,944
12 Months or Longer	$ 7,520
Total	7,520	$ 7,944
Unrealized Losses
Less Than 12 Months		$ (71)
12 Months or Longer	(81)
Total	$ (81)	$ (71)
State and Political Subdivisions [Member]
Approximate Fair Value
Less Than 12 Months		$ 505
12 Months or Longer
Total		$ 505
Unrealized Losses
Less Than 12 Months		$ (1)
12 Months or Longer
Total		$ (1)
Single-Issuer Trust Preferred Security [Member]
Approximate Fair Value
Less Than 12 Months
12 Months or Longer	$ 2,535	$ 2,400
Total	$ 2,535	$ 2,400
Unrealized Losses
Less Than 12 Months
12 Months or Longer	$ (464)	$ (599)
Total	$ (464)	$ (599)
CRA Investment Fund [Member]
Approximate Fair Value
Less Than 12 Months
12 Months or Longer	$ 2,939	$ 2,955
Total	$ 2,939	$ 2,955
Unrealized Losses
Less Than 12 Months
12 Months or Longer	$ (61)	$ (45)
Total	$ (61)	$ (45)

LOANS (Narrative) (Details)

LOANS (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired non-accrual loans		$ 6,747	$ 6,850
Impaired non-accrual loans performing troubled debt restructured		16,200	13,600
Allowance allocated to troubled debt restructured loans		441	892
Allowance allocated to non accrual loans		162	204
Impaired loans		23,107	20,451
Troubled debt restructurings specific reserves to customers		$ 441	892
Amount of loans sold	$ 67,000
Gain on loans held for sale at lower of cost or fair value			166	$ 522
Transfer of loans to loans held for sale		$ 109,223	$ 67,855
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Transfer of loans to loans held for sale		$ 82,200

LOANS (Schedule of Loans Outsta

LOANS (Schedule of Loans Outstanding, by Classification) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Total loans	$ 2,913,242	$ 2,250,267
Loans and Finance Receivables [Member]
Total loans (in percent)	100.00%	100.00%
Unallocated Financing Receivables [Member]
Total loans	$ 500	$ 1,838
Unallocated Financing Receivables [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	0.02%	0.08%
Residential Mortgage [Member] | Residential Portfolio Segment [Member]
Total loans	$ 470,869	$ 466,760
Residential Mortgage [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	16.16%	20.74%
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans	$ 1,416,775	$ 1,080,256
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	48.63%	48.00%
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 413,118	$ 308,491
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	14.18%	13.71%
Commercial Loans [Member] | Commercial Portfolio Segment [Member]
Total loans	$ 512,886	$ 308,743
Commercial Loans [Member] | Commercial Portfolio Segment [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	17.60%	13.72%
Construction Loans [Member]
Total loans	$ 1,401	$ 5,998
Construction Loans [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	0.05%	0.27%
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans	$ 52,649	$ 50,141
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	1.81%	2.23%
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other [Member]
Total loans	$ 45,044	$ 28,040
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	1.55%	1.25%

LOANS (Schedule of Loan Balance

LOANS (Schedule of Loan Balances by Portfolio Class) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Total loans	$ 2,911,552	$ 2,247,257
Net deferred fees	1,690	3,010
Total loans including net deferred costs	$ 2,913,242	$ 2,250,267
Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	100.00%	100.00%
Agricultural Sector [Member]
Total loans	$ 179	$ 364
Agricultural Sector [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.01%	0.02%
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	$ 11,503	$ 11,808
Residential Portfolio Segment [Member] | Junior Lien [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.39%	0.52%
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Total loans	$ 154,295	$ 81,362
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	5.30%	3.62%
Consumer and Other [Member]
Total loans	$ 47,635	$ 27,084
Consumer and Other [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	1.64%	1.20%
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total loans	$ 483,085	$ 480,149
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	16.59%	21.37%
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans	$ 52,804	$ 50,302
Total loans including net deferred costs	$ 52,649	$ 50,141
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	1.81%	2.24%
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans	$ 1,416,775	$ 1,080,256
Total loans including net deferred costs	$ 1,416,775	$ 1,080,256
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	48.66%	48.07%
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 176,276	$ 105,446
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	6.05%	4.69%
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 568,849	$ 405,771
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	19.54%	18.06%
Construction Loans [Member]
Total loans including net deferred costs	$ 1,401	$ 5,998
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total loans	$ 151	$ 4,715
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.01%	0.21%

LOANS (Schedule of Related Part

LOANS (Schedule of Related Party Loan Balances) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Loans receivable from executive officers and directors
Loans outstanding, beginning	$ 4,518	$ 2,216
New loans	1,747	4,302
Repayments	$ (1,985)	(1,129)
Loans with individuals no longer considered related parties		(871)
Loans outstanding, ending	$ 4,280	$ 4,518

LOANS (Schedule of Balances by

LOANS (Schedule of Balances by Portfolio Class, Based on Impairment Method) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Total Loans Individually Evaluated for Impairment	$ 23,107	$ 20,451
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	490	957
Total Loans Collectively Evaluated for Impairment	2,888,445	2,226,806
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	25,366	18,523
Total Loans	2,911,552	2,247,257
Total Ending ALLL	$ 25,856	$ 19,480	$ 15,373	$ 12,735
Agricultural Sector [Member]
Total Loans Individually Evaluated for Impairment
Ending ALLL Attributable to Loans Individually Evaluated for Impairment
Total Loans Collectively Evaluated for Impairment	$ 179	$ 364
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2	4
Total Loans	179	364
Total Ending ALLL	2	4	3	3
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans Individually Evaluated for Impairment	$ 176	$ 164
Ending ALLL Attributable to Loans Individually Evaluated for Impairment
Total Loans Collectively Evaluated for Impairment	$ 11,327	$ 11,644
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	66	109
Total Loans	11,503	11,808
Total Ending ALLL	66	109	156	314
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Total Loans Individually Evaluated for Impairment	171	248
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	138	149
Total Loans Collectively Evaluated for Impairment	154,124	81,114
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2,071	731
Total Loans	154,295	81,362
Total Ending ALLL	$ 2,209	880	825	803
Consumer and Other [Member]
Total Loans Individually Evaluated for Impairment		2
Ending ALLL Attributable to Loans Individually Evaluated for Impairment		2
Total Loans Collectively Evaluated for Impairment	$ 47,635	27,082
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	112	94
Total Loans	47,635	27,084
Total Ending ALLL	112	96	78	92
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	9,752	6,500
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	291	317
Total Loans Collectively Evaluated for Impairment	473,333	473,649
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2,006	2,606
Total Loans	483,085	480,149
Total Ending ALLL	2,297	2,923	2,361	3,047
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	$ 254	$ 210
Ending ALLL Attributable to Loans Individually Evaluated for Impairment
Total Loans Collectively Evaluated for Impairment	$ 52,550	$ 50,092
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	86	156
Total Loans	52,804	50,302
Total Ending ALLL	$ 86	$ 156	181	267
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment
Ending ALLL Attributable to Loans Individually Evaluated for Impairment
Total Loans Collectively Evaluated for Impairment	$ 1,416,775	$ 1,080,256
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	11,813	8,983
Total Loans	1,416,775	1,080,256
Total Ending ALLL	11,813	8,983	4,003	1,305
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	$ 1,272	$ 1,674
Ending ALLL Attributable to Loans Individually Evaluated for Impairment
Total Loans Collectively Evaluated for Impairment	$ 175,004	$ 103,772
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	1,679	1,547
Total Loans	176,276	105,446
Total Ending ALLL	1,679	1,547	2,563	2,509
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	11,482	11,653
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	61	489
Total Loans Collectively Evaluated for Impairment	557,367	394,118
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	7,529	4,262
Total Loans	568,849	405,771
Total Ending ALLL	$ 7,590	$ 4,751	5,083	4,155
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment
Ending ALLL Attributable to Loans Individually Evaluated for Impairment
Total Loans Collectively Evaluated for Impairment	$ 151	$ 4,715
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2	31
Total Loans	151	4,715
Total Ending ALLL	$ 2	$ 31	$ 120	$ 240

LOANS (Schedule of Schedule of

LOANS (Schedule of Schedule of Loans Individually Evaluated for Impairment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Unpaid Principal Balance
With no related allowance recorded	$ 22,097	$ 13,098
With related allowance recorded	3,518	8,549
Total loans individually evaluated impairment	25,615	21,647
Recorded Investment
With no related allowance recorded	19,750	12,205
With related allowance recorded	3,357	8,246
Total loans individually evaluated impairment	23,107	20,451
Specific Reserves	490	957
Average Impaired Loans
With no related allowance recorded	17,900	12,185
With related allowance recorded	3,304	7,537
Total loans individually evaluated impairment	21,204	19,722
Residential Portfolio Segment [Member] | Junior Lien [Member]
Unpaid Principal Balance
With no related allowance recorded	219	293
Recorded Investment
With no related allowance recorded	176	164
Average Impaired Loans
With no related allowance recorded	166	224
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Unpaid Principal Balance
With no related allowance recorded	63	99
With related allowance recorded	179	179
Recorded Investment
With no related allowance recorded	33	99
With related allowance recorded	138	149
Specific Reserves	138	149
Average Impaired Loans
With no related allowance recorded	112	155
With related allowance recorded	$ 144	$ 249
Consumer and Other [Member]
Unpaid Principal Balance
With no related allowance recorded
With related allowance recorded		$ 2
Recorded Investment
With no related allowance recorded
With related allowance recorded		$ 2
Specific Reserves		2
Average Impaired Loans
With no related allowance recorded	$ 1	$ 14
With related allowance recorded
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	8,998	$ 5,264
With related allowance recorded	2,090	2,138
Recorded Investment
With no related allowance recorded	7,782	4,635
With related allowance recorded	1,970	1,865
Specific Reserves	291	317
Average Impaired Loans
With no related allowance recorded	5,683	3,543
With related allowance recorded	1,894	1,361
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	258	210
Recorded Investment
With no related allowance recorded	254	210
Average Impaired Loans
With no related allowance recorded	229	111
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	1,460	$ 1,809
With related allowance recorded
Recorded Investment
With no related allowance recorded	1,272	$ 1,674
With related allowance recorded
Specific Reserves
Average Impaired Loans
With no related allowance recorded	1,379	$ 2,626
With related allowance recorded
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	11,099	$ 5,423
With related allowance recorded	1,249	6,230
Recorded Investment
With no related allowance recorded	10,233	5,423
With related allowance recorded	1,249	6,230
Specific Reserves	61	489
Average Impaired Loans
With no related allowance recorded	10,330	5,512
With related allowance recorded	$ 1,266	$ 5,927

LOANS (Schedule of Investment i

LOANS (Schedule of Investment in Nonaccrual and Loans Past Due Over 90 Days) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Impaired non-accrual loans	$ 6,747	$ 6,850
Loans Past Due Over 90 Days And Still Accruing Interest
Residential Portfolio Segment [Member] | Junior Lien [Member]
Impaired non-accrual loans	$ 118	$ 164
Loans Past Due Over 90 Days And Still Accruing Interest
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Impaired non-accrual loans	$ 171	$ 248
Loans Past Due Over 90 Days And Still Accruing Interest
Consumer and Other [Member]
Impaired non-accrual loans		$ 2
Loans Past Due Over 90 Days And Still Accruing Interest
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Impaired non-accrual loans	$ 4,549	$ 4,128
Loans Past Due Over 90 Days And Still Accruing Interest
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Impaired non-accrual loans	$ 229	$ 210
Loans Past Due Over 90 Days And Still Accruing Interest
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Impaired non-accrual loans	$ 1,272	$ 1,674
Loans Past Due Over 90 Days And Still Accruing Interest
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Impaired non-accrual loans	$ 408	$ 424
Loans Past Due Over 90 Days And Still Accruing Interest

LOANS (Schedule of Schedule o63

LOANS (Schedule of Schedule of Aging of Past Due Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Total Past Due	$ 2,143	$ 1,755
30 to 59 Days Past Due [Member]
Total Past Due	1,986	1,352
60 to 89 Days Past Due [Member]
Total Past Due	$ 157	$ 403
Greater Than 90 Days Past Due [Member]
Total Past Due
Consumer and Other [Member]
Total Past Due		$ 1
Consumer and Other [Member] | 30 to 59 Days Past Due [Member]
Total Past Due		$ 1
Consumer and Other [Member] | 60 to 89 Days Past Due [Member]
Total Past Due
Consumer and Other [Member] | Greater Than 90 Days Past Due [Member]
Total Past Due
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Past Due	$ 1,371	$ 1,505
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | 30 to 59 Days Past Due [Member]
Total Past Due	1,214	1,102
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | 60 to 89 Days Past Due [Member]
Total Past Due	$ 157	$ 403
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Greater Than 90 Days Past Due [Member]
Total Past Due
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Past Due		$ 99
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | 30 to 59 Days Past Due [Member]
Total Past Due		$ 99
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | 60 to 89 Days Past Due [Member]
Total Past Due
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Greater Than 90 Days Past Due [Member]
Total Past Due
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Past Due	$ 772
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | 30 to 59 Days Past Due [Member]
Total Past Due	$ 772
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | 60 to 89 Days Past Due [Member]
Total Past Due
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Greater Than 90 Days Past Due [Member]
Total Past Due
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total Past Due		$ 150
Construction Loans [Member] | Commercial Portfolio Segment [Member] | 30 to 59 Days Past Due [Member]
Total Past Due		$ 150
Construction Loans [Member] | Commercial Portfolio Segment [Member] | 60 to 89 Days Past Due [Member]
Total Past Due
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Greater Than 90 Days Past Due [Member]
Total Past Due

LOANS (Schedule of Schedule o64

LOANS (Schedule of Schedule of Risk Category of Loans by Class of Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Total Loans	$ 2,911,552	$ 2,247,257
Pass [Member]
Total Loans	2,847,245	2,197,300
Special Mention [Member]
Total Loans	21,530	14,148
Substandard [Member]
Total Loans	$ 42,777	$ 35,809
Doubtful [Member]
Total Loans
Agricultural Sector [Member]
Total Loans	$ 179	$ 364
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans	11,503	11,808
Residential Portfolio Segment [Member] | Junior Lien [Member] | Pass [Member]
Total Loans	$ 11,327	$ 11,644
Residential Portfolio Segment [Member] | Junior Lien [Member] | Special Mention [Member]
Total Loans
Residential Portfolio Segment [Member] | Junior Lien [Member] | Substandard [Member]
Total Loans	$ 176	$ 164
Residential Portfolio Segment [Member] | Junior Lien [Member] | Doubtful [Member]
Total Loans
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Total Loans	$ 154,295	$ 81,362
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Pass [Member]
Total Loans	148,940	81,093
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Special Mention [Member]
Total Loans	5,184	21
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Substandard [Member]
Total Loans	$ 171	$ 248
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Doubtful [Member]
Total Loans
Consumer and Other [Member]
Total Loans	$ 47,635	$ 27,084
Consumer and Other [Member] | Pass [Member]
Total Loans	$ 47,635	$ 27,082
Consumer and Other [Member] | Special Mention [Member]
Total Loans
Consumer and Other [Member] | Substandard [Member]
Total Loans		$ 2
Consumer and Other [Member] | Doubtful [Member]
Total Loans
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans	$ 483,085	$ 480,149
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Pass [Member]
Total Loans	471,859	471,219
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Special Mention [Member]
Total Loans	1,332	1,366
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Substandard [Member]
Total Loans	$ 9,894	$ 7,564
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Doubtful [Member]
Total Loans
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans	$ 52,804	$ 50,302
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Pass [Member]
Total Loans	$ 52,550	$ 50,092
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Special Mention [Member]
Total Loans
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Substandard [Member]
Total Loans	$ 254	$ 210
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Doubtful [Member]
Total Loans
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans	$ 1,416,775	$ 1,080,256
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Pass [Member]
Total Loans	1,407,856	1,078,944
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Special Mention [Member]
Total Loans	7,718	490
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Substandard [Member]
Total Loans	$ 1,201	$ 822
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Doubtful [Member]
Total Loans
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	$ 176,276	$ 105,446
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Total Loans	170,420	99,432
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Total Loans	928	473
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Total Loans	$ 4,928	$ 5,541
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Total Loans
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	$ 568,849	$ 405,771
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Total Loans	536,479	372,865
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Total Loans	6,217	11,648
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Total Loans	$ 26,153	$ 21,258
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Total Loans
Secured by farmland [Member] | Agricultural Sector [Member] | Pass [Member]
Total Loans	$ 179	$ 189
Secured by farmland [Member] | Agricultural Sector [Member] | Special Mention [Member]
Total Loans
Secured by farmland [Member] | Agricultural Sector [Member] | Substandard [Member]
Total Loans
Secured by farmland [Member] | Agricultural Sector [Member] | Doubtful [Member]
Total Loans
Agricultural Production Loans [Member] | Agricultural Sector [Member] | Pass [Member]
Total Loans		$ 175
Agricultural Production Loans [Member] | Agricultural Sector [Member] | Special Mention [Member]
Total Loans
Agricultural Production Loans [Member] | Agricultural Sector [Member] | Substandard [Member]
Total Loans
Agricultural Production Loans [Member] | Agricultural Sector [Member] | Doubtful [Member]
Total Loans
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total Loans	$ 151	$ 4,715
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Pass [Member]
Total Loans		4,565
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Special Mention [Member]
Total Loans	$ 151	$ 150
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Substandard [Member]
Total Loans
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Doubtful [Member]
Total Loans

LOANS (Schedule of Activity in

LOANS (Schedule of Activity in Allowance for Loan Losses) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for loan losses
Beginning ALLL				$ 19,480				$ 15,373				$ 12,735	$ 19,480	$ 15,373	$ 12,735
Charge-Offs													(991)	(1,088)	(1,040)
Recoveries													267	320	253
Provision (Credit)	$ 1,950	$ 1,600	$ 2,200	1,350	$ 1,250	$ 1,150	$ 1,150	1,325	$ 1,325	$ 750	$ 500	850	7,100	4,875	3,425
Ending ALLL	25,856				19,480				15,373				25,856	19,480	15,373
Agricultural Sector [Member]
Allowance for loan losses
Beginning ALLL				4				3				3	4	$ 3	$ 3
Charge-Offs
Recoveries
Provision (Credit)													(2)	$ 1
Ending ALLL	2				4				3				2	4	$ 3
Residential Portfolio Segment [Member] | Junior Lien [Member]
Allowance for loan losses
Beginning ALLL				109				156				314	109	156	314
Charge-Offs													(13)	(1)	(346)
Recoveries													62	103	17
Provision (Credit)													(92)	(149)	171
Ending ALLL	66				109				156				66	109	156
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Allowance for loan losses
Beginning ALLL				880				825				803	880	825	803
Charge-Offs													(73)	(123)	(16)
Recoveries													81	85	64
Provision (Credit)													1,321	93	(26)
Ending ALLL	2,209				880				825				2,209	880	825
Consumer and Other [Member]
Allowance for loan losses
Beginning ALLL				96				78				92	96	78	92
Charge-Offs													(41)	(22)	(11)
Recoveries													13	7	9
Provision (Credit)													44	33	(12)
Ending ALLL	112				96				78				112	96	78
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				2,923				2,361				3,047	2,923	2,361	3,047
Charge-Offs													(638)	(273)	(611)
Recoveries													80	1	48
Provision (Credit)													(68)	834	(123)
Ending ALLL	2,297				2,923				2,361				2,297	2,923	2,361
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				156				181				267	156	$ 181	$ 267
Charge-Offs													(210)
Recoveries													2
Provision (Credit)													138	$ (25)	$ (86)
Ending ALLL	86				156				181				86	156	181
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				8,983				4,003				1,305	8,983	$ 4,003	$ 1,305
Charge-Offs
Recoveries															$ 11
Provision (Credit)													2,830	$ 4,980	2,687
Ending ALLL	11,813				8,983				4,003				11,813	8,983	4,003
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				1,547				2,563				2,509	1,547	2,563	$ 2,509
Charge-Offs														(669)
Recoveries													11	106	$ 77
Provision (Credit)													121	(453)	(23)
Ending ALLL	1,679				1,547				2,563				1,679	1,547	2,563
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				4,751				5,083				4,155	4,751	$ 5,083	4,155
Charge-Offs													(16)		(56)
Recoveries													18	$ 18	26
Provision (Credit)													2,837	(350)	958
Ending ALLL	7,590				4,751				5,083				7,590	4,751	5,083
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				$ 31				$ 120				$ 240	31	$ 120	$ 240
Charge-Offs
Recoveries															$ 1
Provision (Credit)													(29)	$ (89)	(121)
Ending ALLL	$ 2				$ 31				$ 120				$ 2	$ 31	$ 120

LOANS (Schedule of Loans Modifi

LOANS (Schedule of Loans Modified as Troubled Debt Restructurings) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)N	Dec. 31, 2014USD ($)N	Dec. 31, 2013USD ($)N
Number of Contracts | N	13	9	5
Pre-Modification Outstanding Recorded Investment	$ 4,104	$ 3,419	$ 5,760
Post-Modification Outstanding Recorded Investment	$ 4,104	$ 3,419	$ 5,760
Residential Portfolio Segment [Member] | Junior Lien [Member]
Number of Contracts | N	1
Pre-Modification Outstanding Recorded Investment	$ 58
Post-Modification Outstanding Recorded Investment	$ 58
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Number of Contracts | N	11	8	4
Pre-Modification Outstanding Recorded Investment	$ 3,296	$ 2,138	$ 760
Post-Modification Outstanding Recorded Investment	$ 3,296	$ 2,138	$ 760
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Number of Contracts | N	1	1	1
Pre-Modification Outstanding Recorded Investment	$ 750	$ 1,281	$ 5,000
Post-Modification Outstanding Recorded Investment	$ 750	$ 1,281	$ 5,000

LOANS (Schedule of Modified as

LOANS (Schedule of Modified as Troubled Debt Restructurings Subsequently Defaulted) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2013USD ($)N
Number of Subsequently Defaulted Contracts | N	1
Subsequently Defaulted Recorded Investment | $	$ 59
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Number of Subsequently Defaulted Contracts | N	1
Subsequently Defaulted Recorded Investment | $	$ 59

PREMISES AND EQUIPMENT (Narrati

PREMISES AND EQUIPMENT (Narrative) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)N	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)
Depreciation		$ 3,921	$ 2,993	$ 3,536
Depreciation expense on leased assets		607	$ 531	$ 400
Gain on leaseback transaction of Gladstone property deferred					$ 764
Charge to operations for closings		1,735
Facility Closing [Member]
Depreciation	$ 723
Number of stores closed | N	2
Charge to operations for closings	$ 2,500
Gladstone Property [Member]
Depreciation		$ 141	$ 141	$ 141

PREMISES AND EQUIPMENT (Schedul

PREMISES AND EQUIPMENT (Schedule of Premises and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Premises and equipment, gross	$ 56,348	$ 56,196
Less: accumulated depreciation	26,102	23,938
Total	30,246	32,258
Land and Land Improvements [Member]
Premises and equipment, excluding lease asset	4,942	4,932
Buildings [Member]
Premises and equipment, excluding lease asset	11,970	11,984
Furniture and Equipment [Member]
Premises and equipment, excluding lease asset	16,857	16,621
Leasehold Improvements [Member]
Premises and equipment, excluding lease asset	10,423	10,017
Projects in Progress [Member]
Premises and equipment, excluding lease asset	919	1,405
Capital lease asset [Member]
Capital lease asset	11,237	11,237
Premises and equipment, gross	11,237	11,237
Less: accumulated depreciation	3,167	2,420
Total	$ 8,070	$ 8,817

PREMISES AND EQUIPMENT (Sched70

PREMISES AND EQUIPMENT (Schedule of Future Minimum Lease Payments) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Future Minimum Payments under capitalized leases
2,016	$ 1,007
2,017	1,081
2,018	1,127
2,019	1,146
2,020	1,195
Thereafter	7,819
Total minimum lease payments	13,375
Less amount representing interest	3,153
Present value of net minimum lease payments	$ 10,222

OTHER REAL ESTATE OWNED (Narrat

OTHER REAL ESTATE OWNED (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
OTHER REAL ESTATE OWNED [Abstract]
Other real estate owned	$ 563	$ 1,324

OTHER REAL ESTATE OWNED (Schedu

OTHER REAL ESTATE OWNED (Schedule of Activity in Other Real Estate Owned, Excluding Valuation Allowance) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
OTHER REAL ESTATE OWNED [Abstract]
Balance, beginning of year	$ 3,744	$ 3,961
OREO properties added	233	744
Sales during year	(744)	(961)
Balance, end of year	$ 3,233	$ 3,744

OTHER REAL ESTATE OWNED (Sche73

OTHER REAL ESTATE OWNED (Schedule of Activity in Valuation Allowance) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
OTHER REAL ESTATE OWNED [Abstract]
Balance, beginning of year	$ 2,420	$ 2,020	$ 1,010
Additions charged to expense	$ 250	$ 400	$ 1,010
Direct writedowns
Balance, end of year	$ 2,670	$ 2,420	$ 2,020

OTHER REAL ESTATE OWNED (Sche74

OTHER REAL ESTATE OWNED (Schedule of Expenses Related to Other Real Estate Owned) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
OTHER REAL ESTATE OWNED [Abstract]
Net (gain)/loss on sales		$ (139)	$ (85)
Provision for unrealized losses	$ 250	400	1,010
Operating expenses, net of rental income	51	179	179
Total	$ 301	$ 440	$ 1,104

DEPOSITS (Details of Total Depo

DEPOSITS (Details of Total Deposits) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
DEPOSITS [Abstract]
Time deposits over $250,000	$ 115,600	$ 23,100
Deposits:
Noninterest-bearing demand deposits	419,887	366,371
Interest-bearing checking	861,697	600,889
Savings	115,007	112,878
Money market	810,709	700,069
Certificates of deposit	434,450	198,819
Interest-bearing demand - Brokered	200,000	188,000
Certificates of deposit - Brokered	93,720	131,667
Total deposits	$ 2,935,470	$ 2,298,693
%
Noninterest-bearing demand deposits	14.30%	15.94%
Interest-bearing checking	29.36%	26.14%
Savings	3.92%	4.91%
Money market	27.62%	30.46%
Certificates of deposit	14.80%	8.65%
Interest-bearing demand - Brokered	6.81%	8.18%
Certificates of deposit - Brokered	3.19%	5.73%
Total deposits	100.00%	100.00%

DEPOSITS (Scheduled Maturities

DEPOSITS (Scheduled Maturities of Time Deposits) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Scheduled maturities of time deposits
2,016	$ 91,115
2,017	97,707
2,018	171,173
2,019	64,466
2,020	38,511
Over 5 Years	65,198
Total	$ 528,170

FEDERAL HOME LOAN BANK ADVANC77

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS [Abstract]
Advances from Federal Home Loan Banks	$ 83,692	$ 83,700
Federal Home Loan Bank advances, weighted average interest rate (in percent)	1.78%	1.78%
Advances with fixed maturity dates	$ 71,700	$ 71,700
Weighted average interest rate on fixed maturity advances	1.57%	1.57%
Residential mortgages pledged as collateral for advances	$ 428,200	$ 388,500
Multifamily mortgage loans pledged as collateral for advances	1,100,000	815,600
Callable variable rate advances	$ 12,000	$ 12,000
Weighted average interest rate on variable advances (in percent)	3.01%	3.01%
Investment pledges against advances	$ 13,200	$ 13,400
Overnight borrowings of debt	$ 40,700	$ 54,600
Average interest rate of FHLB advances	0.52%	0.32%
Unused commitments from FHLB	$ 885,000
Unused short-term or overnight borrowings from correspondent banks	22,000
Unused short-term or overnight borrowings from FRB	$ 113,900

FEDERAL HOME LOAN BANK ADVANC78

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Schedule of Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Federal Home Loan Bank Advances Maturities Summary
2,016	$ 21,897
2,017	23,897
2,018	34,898
2,019	$ 3,000
2,020
Over 5 years
Total	$ 83,692	$ 83,700

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
FAIR VALUE [Abstract]
Loans held for sale, at fair value	$ 1,558	$ 839
Impaired collateral loans recorded investment	299	648
Impaired collateral loans valuation allowance	48	105
Provision for ORE losses	$ 250	$ 400	$ 1,010
Loans Receivable [Member] | Property A [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	15.00%
Age of appraisal	12 months

FAIR VALUE (Schedule of Assets

FAIR VALUE (Schedule of Assets Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Securities available for sale	$ 195,630	$ 332,652
Loans held for sale, at fair value	1,558	839
U.S. Government-Sponsored Entities [Member]
Securities available for sale		35,670
Mortgage-Backed Securities-Residential [Member]
Securities available for sale	160,607	242,289
SBA Pool Securities [Member]
Securities available for sale	7,520	7,944
State and Political Subdivisions [Member]
Securities available for sale	22,029	41,394
Single-Issuer Trust Preferred Security [Member]
Securities available for sale	2,535	2,400
CRA Investment Fund [Member]
Securities available for sale	2,939	2,955
Recurring Basis [Member]
Loans held for sale, at fair value	1,558	839
Total	198,398	333,491
Derivatives	(2,540)	(169)
Recurring Basis [Member] | Designated as Hedging Instrument [Member]
Derivatives	104
Derivatives	(1,434)	(169)
Recurring Basis [Member] | Not Designated as Hedging Instrument [Member]
Derivatives	1,106
Derivatives	(1,106)
Recurring Basis [Member] | U.S. Government-Sponsored Entities [Member]
Securities available for sale		35,670
Recurring Basis [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale	160,607	242,289
Recurring Basis [Member] | SBA Pool Securities [Member]
Securities available for sale	7,520	7,944
Recurring Basis [Member] | State and Political Subdivisions [Member]
Securities available for sale	22,029	41,394
Recurring Basis [Member] | Single-Issuer Trust Preferred Security [Member]
Securities available for sale	2,535	2,400
Recurring Basis [Member] | CRA Investment Fund [Member]
Securities available for sale	$ 2,939	$ 2,955
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Loans held for sale, at fair value
Total	$ 2,939	$ 2,955
Derivatives
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Designated as Hedging Instrument [Member]
Derivatives
Derivatives
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Not Designated as Hedging Instrument [Member]
Derivatives
Derivatives
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | U.S. Government-Sponsored Entities [Member]
Securities available for sale
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | SBA Pool Securities [Member]
Securities available for sale
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | State and Political Subdivisions [Member]
Securities available for sale
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Single-Issuer Trust Preferred Security [Member]
Securities available for sale
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | CRA Investment Fund [Member]
Securities available for sale	$ 2,939	$ 2,955
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Loans held for sale, at fair value	1,558	839
Total	195,459	330,536
Derivatives	(2,540)	(169)
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Designated as Hedging Instrument [Member]
Derivatives	104
Derivatives	(1,434)	(169)
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Not Designated as Hedging Instrument [Member]
Derivatives	1,106
Derivatives	(1,106)
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Government-Sponsored Entities [Member]
Securities available for sale		35,670
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale	160,607	242,289
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | SBA Pool Securities [Member]
Securities available for sale	7,520	7,944
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | State and Political Subdivisions [Member]
Securities available for sale	22,029	41,394
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Single-Issuer Trust Preferred Security [Member]
Securities available for sale	$ 2,535	$ 2,400
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | CRA Investment Fund [Member]
Securities available for sale
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]
Loans held for sale, at fair value
Total
Derivatives
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Designated as Hedging Instrument [Member]
Derivatives
Derivatives
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Not Designated as Hedging Instrument [Member]
Derivatives
Derivatives
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | U.S. Government-Sponsored Entities [Member]
Securities available for sale
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | SBA Pool Securities [Member]
Securities available for sale
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | State and Political Subdivisions [Member]
Securities available for sale
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Single-Issuer Trust Preferred Security [Member]
Securities available for sale
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | CRA Investment Fund [Member]
Securities available for sale

FAIR VALUE (Schedule of Residen

FAIR VALUE (Schedule of Residential Loans Held for Sale, at Fair Value) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
FAIR VALUE [Abstract]
Residential loans contractual balance	$ 1,536	$ 826
Fair value adjustment	22	13
Total fair value of residential loans held for sale	$ 1,558	$ 839

FAIR VALUE (Schedule of Asset82

FAIR VALUE (Schedule of Assets Measured on a Non-Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
OREO	$ 563	$ 1,324
Non-Recurring Basis [Member]
OREO	330	580
Non-Recurring Basis [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Impaired loans	$ 251	$ 543
Non-Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
OREO
Non-Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Impaired loans
Non-Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
OREO
Non-Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Impaired loans
Non-Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]
OREO	$ 330	$ 580
Non-Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Impaired loans	$ 251	$ 543

FAIR VALUE (Schedule of Financi

FAIR VALUE (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financial Assets:
Securities available for sale	$ 195,630	$ 332,652
FHLB and FRB Stock	13,984	11,593
Loans held for sale, at fair value	1,558	$ 839
Loans held for sale, at lower of cost or fair value	82,200
Accrued interest receivable	6,820	$ 5,371
Financial Liabilities:
Federal home loan bank advances	83,692	83,700
Carrying Value [Member]
Financial Assets:
Cash and cash equivalents	70,160	31,207
Securities available for sale	195,630	332,652
FHLB and FRB Stock	13,984	11,593
Loans held for sale, at fair value	1,558	839
Loans held for sale, at lower of cost or fair value	82,200
Loans, net of allowance for loan losses	2,887,386	2,230,787
Accrued interest receivable	6,820	5,371
Financial Liabilities:
Deposits	2,935,470	2,298,693
Overnight borrowings	40,700	54,600
Federal home loan bank advances	83,692	83,692
Accrued interest payable	957	496
Derivatives		169
Carrying Value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	104
Financial Liabilities:
Derivatives	1,434
Carrying Value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	1,106
Financial Liabilities:
Derivatives	1,106
Fair value [Member]
Financial Assets:
Cash and cash equivalents	70,160	31,207
Securities available for sale	$ 195,630	$ 332,652
FHLB and FRB Stock
Loans held for sale, at fair value	$ 1,558	$ 839
Loans held for sale, at lower of cost or fair value	82,200
Loans, net of allowance for loan losses	2,865,601	2,213,604
Accrued interest receivable	6,820	5,371
Financial Liabilities:
Deposits	2,933,526	2,297,786
Overnight borrowings	40,700	54,600
Federal home loan bank advances	84,409	84,677
Accrued interest payable	957	496
Derivatives		169
Fair value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	104
Financial Liabilities:
Derivatives	1,434
Fair value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	1,106
Financial Liabilities:
Derivatives	1,106
Fair value [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Financial Assets:
Cash and cash equivalents	70,160	30,707
Securities available for sale	$ 2,939	$ 2,955
FHLB and FRB Stock
Loans held for sale, at fair value
Loans held for sale, at lower of cost or fair value
Loans, net of allowance for loan losses
Accrued interest receivable
Financial Liabilities:
Deposits	$ 2,407,300	$ 1,968,207
Overnight borrowings
Federal home loan bank advances
Accrued interest payable	$ 128	$ 103
Derivatives
Fair value [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives
Financial Liabilities:
Derivatives
Fair value [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives
Financial Liabilities:
Derivatives
Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Cash and cash equivalents		$ 500
Securities available for sale	$ 192,691	$ 329,697
FHLB and FRB Stock
Loans held for sale, at fair value	$ 1,558	$ 839
Loans held for sale, at lower of cost or fair value	$ 82,200
Loans, net of allowance for loan losses
Accrued interest receivable	$ 562	$ 924
Financial Liabilities:
Deposits	526,226	329,579
Overnight borrowings	40,700	54,600
Federal home loan bank advances	84,409	84,677
Accrued interest payable	829	393
Derivatives		$ 169
Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	104
Financial Liabilities:
Derivatives	1,434
Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	1,106
Financial Liabilities:
Derivatives	$ 1,106
Fair value [Member] | Significant Unobservable Inputs (Level 3) [Member]
Financial Assets:
Cash and cash equivalents
Securities available for sale
FHLB and FRB Stock
Loans held for sale, at fair value
Loans held for sale, at lower of cost or fair value
Loans, net of allowance for loan losses	$ 2,865,601	$ 2,213,604
Accrued interest receivable	$ 6,258	$ 4,447
Financial Liabilities:
Deposits
Overnight borrowings
Federal home loan bank advances
Accrued interest payable
Derivatives
Fair value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives
Financial Liabilities:
Derivatives
Fair value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives
Financial Liabilities:
Derivatives

OTHER OPERATING EXPENSES (Detai

OTHER OPERATING EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other operating expenses
Professional and legal fees	$ 2,747	$ 1,873	$ 2,085
FDIC insurance	2,154	1,381	1,121
Wealth Division other expense	2,147	$ 1,896	$ 1,702
Branch Restructure (Note 4)	1,735
Telephone	942	$ 914	$ 696
Advertising	637	594	519
Loan expense	426	532	676
Provision for ORE losses	250	$ 400	$ 1,010
Intangible amortization	82
Other operating expenses	5,959	$ 5,746	$ 5,211
Total other operating expenses	$ 17,079	$ 13,336	$ 13,020

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details)	12 Months Ended
	Dec. 31, 2015
INCOME TAXES [Abstract]
Income tax rate	35.00%

INCOME TAXES (Schedule of Incom

INCOME TAXES (Schedule of Income Tax Expense Included in Consolidated Financial Statements) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Federal:
Current expense/(benefit)													$ 13,035	$ 10,251	$ 2,811
Deferred (benefit)/expense													(3,210)	(2,626)	1,299
State:
Current expense/(benefit)													3,176	625	21
Deferred expense													(833)	1,146	1,371
Total income tax expense	$ 2,256	$ 3,434	$ 3,139	$ 3,339	$ 2,599	$ 2,393	$ 2,533	$ 1,871	$ 1,135	$ 1,276	$ 1,096	$ 1,995	$ 12,168	$ 9,396	$ 5,502

INCOME TAXES (Schedule of Total

INCOME TAXES (Schedule of Total Income Tax Expense Differed from Amounts Computed by Applying US Federal Income Tax Rate of 35 Percent to Income Before Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
INCOME TAXES [Abstract]
Computed "expected tax expense"													$ 11,249	$ 8,500	$ 5,167
(Decrease)/increase in income taxes resulting from:
Tax-exempt income													(316)	(152)	(317)
State income taxes													1,523	1,102	901
Bank owned life insurance income													(279)	(152)	(243)
Interest disallowance													40	9	$ 10
Meals and entertainment expense													69	69
Stock-based compensation													86	$ 60	$ 54
Rate adjustment													(70)		(100)
Other													(134)	$ (40)	(30)
Total income tax expense	$ 2,256	$ 3,434	$ 3,139	$ 3,339	$ 2,599	$ 2,393	$ 2,533	$ 1,871	$ 1,135	$ 1,276	$ 1,096	$ 1,995	$ 12,168	$ 9,396	$ 5,502

INCOME TAXES (Schedule of Tax E

INCOME TAXES (Schedule of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred Tax assets:
Allowance for loan losses	$ 10,437	$ 7,957
Valuation allowance for OREO losses	1,084	989
Federal and state net operating loss carryforward	6	9
Lease adjustment	$ 122	149
Federal AMT credit carryforward		540
Post retirement benefits	$ 445	427
Prepaid alternative minimum assessment	283	283
Contribution limitation	237	34
Charitable contribution carryforward	32	32
Organization costs	24	26
Cash flow hedge	544	69
Stock option expense	414	372
Nonaccrued interest	127	181
Accrued compensation	3,349	2,422
Capital leases	1,407	952
Total gross deferred tax assets	18,511	14,442
Deferred tax liabilities:
Bank premises and equipment, principally due to differences in depreciation	767	920
Unrealized gain on securities available for sale	262	835
Deferred loan origination costs and fees	1,114	1,555
Deferred income	721	603
Investment securities, principally due to the accretion of bond discount	29	19
Other	36	19
Total gross deferred tax liabilities	2,929	3,951
Net deferred tax asset	$ 15,582	$ 10,491

BENEFIT PLANS (Details)

BENEFIT PLANS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Enhanced benefit in defined benefit plan			$ 850
401(K) Plan [Member]
Contributions to the plan	$ 1,600	$ 1,400	1,900
Profit Sharing [Member]
Contributions to the plan			$ 200

STOCK-BASED COMPENSATION (Narra

STOCK-BASED COMPENSATION (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Shares available for grant	394,166	394,166
Number of share purchase rights authorized	1,120,000	1,120,000
Aggregate intrinsic value of options exercised		$ 142	$ 109	$ 20
Closing stock price of common stock	$ 20.62	$ 20.62
Weighted-average fair value of stock options granted (in dollars per share)			$ 7.50	$ 4.58
Employee Stock Option [Member]
Option term		10 years
Vesting term		5 years
Unrecognized compensation cost	$ 284	$ 284
Weighted average period, unrecognized compensation expected to be recognized (in years)		7 months 6 days
Total compensation cost		$ 219	$ 234	$ 319
Restricted stock [Member]
Unrecognized compensation cost	4,600	$ 4,600
Weighted average period, unrecognized compensation expected to be recognized (in years)		4 years 3 months 18 days
Total compensation cost		$ 1,600	$ 1,500	$ 590
Restricted stock [Member] | Minimum [Member]
Vesting term		3 years
Restricted stock [Member] | Maximum [Member]
Vesting term		5 years
Performance Shares [Member]
Unrecognized compensation cost	1,700	$ 1,700
Total compensation cost	$ (592)

STOCK-BASED COMPENSATION (Sched

STOCK-BASED COMPENSATION (Schedule of Changes in Options Outstanding) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Number of Options
Balance | shares	345,189
Granted | shares
Exercised | shares	(18,891)
Expired | shares	(45,750)
Forfeited | shares	(13,259)
Balance | shares	267,289
Vested and expected to vest | shares	256,140
Exercisable | shares	225,996
Weighted Average Exercise Price
Balance | $ / shares	$ 17.38
Granted | $ / shares
Exercised | $ / shares	$ 12.61
Expired | $ / shares	18.54
Forfeited | $ / shares	13.45
Balance | $ / shares	17.28
Vested and expected to vest | $ / shares	17.46
Exercisable | $ / shares	$ 17.90
Weighted Average Remaining Contractual Term
Balance	4 years 4 months 28 days
Vested and Expected to Vest	4 years 4 months 28 days
Exercisable	4 years 4 days
Aggregate Intrinsic Value
Balance | $	$ 893
Vested and expected to vest | $	809
Exercisable | $	$ 615

STOCK-BASED COMPENSATION (Sch92

STOCK-BASED COMPENSATION (Schedule of Weighted Average Assumptions) (Details)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Dividend Yield	1.02%	1.30%
Expected volatility	40.00%	39.00%
Expected life	7 years	7 years
Risk-free interest rate	2.18%	1.14%

STOCK-BASED COMPENSATION (Sch93

STOCK-BASED COMPENSATION (Schedule of Changes in Restricted Common Shares) (Details)	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Performance Shares [Member]
Number of Shares
Balance at Beginning | shares	92,767
Granted | shares
Vested | shares
Forfeited | shares
Balance at end | shares	92,767
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 18.12
Granted | $ / shares
Vested | $ / shares
Forfeited | $ / shares
Balance at end | $ / shares	$ 18.12
Restricted stock [Member]
Number of Shares
Balance at Beginning | shares	252,328
Granted | shares	166,165
Vested | shares	(91,364)
Forfeited | shares	(5,708)
Balance at end | shares	321,421
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 17.34
Granted | $ / shares	21
Vested | $ / shares	16.45
Forfeited | $ / shares	19.72
Balance at end | $ / shares	$ 19.44

COMMITMENTS AND CONTINGENCIES94

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Rental Expense	$ 2.6	$ 2.5	$ 2.5
Loan Commitments [Member]
Commitments to extend credit	282.1	223
Standby Letters of Credit [Member]
Commitments to extend credit	$ 10.4	$ 3.2

COMMITMENTS AND CONTINGENCIES95

COMMITMENTS AND CONTINGENCIES (Schedule of Minimum Annual Lease Payments Under Terms of Operating Lease Agreements) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Minimum annual lease payments operating lease agreements
2,016	$ 2,024
2,017	1,616
2,018	1,460
2,019	1,143
2,020	1,133
Thereafter	2,946
Total	$ 10,322

REGULATORY CAPITAL (Details)

REGULATORY CAPITAL (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
The Bank [Member]
Total Capital
Total Capital (to risk-weighted assets)	$ 297,497	$ 250,112
Total Capital (to risk-weighted assets) ratio	11.32%	14.96%
Minimum Capital required to be well-capitalized	$ 262,719	$ 167,160
Minimum Capital required to be well-capitalized, ratio	10.00%	10.00%
Minimum amount of capital for adequacy purposes	$ 210,176	$ 133,728
Minimum amount of capital for adequacy purposes, ratio	8.00%	8.00%
Tier 1 Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 271,641	$ 230,632
Tier 1 Capital (to risk-weighted assets) ratio	10.34%	13.80%
Minimum Tier 1 Capital required to be well-capitalized	$ 210,176	$ 100,296
Minimum Tier 1 Capital required to be well-capitalized, ratio	8.00%	6.00%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 157,632	$ 66,864
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6.00%	4.00%
Tier 1 Leverage Capital (to average assets)
Tier 1 Capital (to average assets)	$ 271,641	$ 230,632
Tier 1 Capital (to average assets) ratio	8.04%	8.74%
Minimum Tier 1 Capital required to be well-capitalized	$ 169,027	$ 131,895
Minimum Tier 1 Capital required to be well-capitalized, ratio	5.00%	5.00%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 135,221	$ 105,516
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.00%	4.00%
The Bank [Member] | Common Stock [Member]
Tier 1 Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 271,641
Tier 1 Capital (to risk-weighted assets) ratio	10.34%
Minimum Tier 1 Capital required to be well-capitalized	$ 170,768
Minimum Tier 1 Capital required to be well-capitalized, ratio	6.50%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 118,224
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.50%
The Corporation [Member]
Total Capital
Total Capital (to risk-weighted assets)	$ 299,593	$ 259,918
Total Capital (to risk-weighted assets) ratio	11.40%	15.55%
Minimum amount of capital for adequacy purposes	$ 210,209	$ 133,745
Minimum amount of capital for adequacy purposes, ratio	8.00%	8.00%
Tier 1 Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 273,738	$ 240,439
Tier 1 Capital (to risk-weighted assets) ratio	10.42%	14.38%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 157,657	$ 66,873
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6.00%	4.00%
Tier 1 Leverage Capital (to average assets)
Tier 1 Capital (to average assets)	$ 273,738	$ 240,439
Tier 1 Capital (to average assets) ratio	8.10%	9.11%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 135,237	$ 105,544
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.00%	4.00%
The Corporation [Member] | Common Stock [Member]
Tier 1 Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 273,738
Tier 1 Capital (to risk-weighted assets) ratio	10.42%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 118,242
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.50%

DERIVATIVES (Details)

DERIVATIVES (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative [Line Items]
Interest expense	$ 4,304	$ 4,100	$ 3,508	$ 2,778	$ 2,434	$ 2,162	$ 1,707	$ 1,378	$ 1,210	$ 1,050	$ 1,012	$ 1,005	$ 14,690	$ 7,681	$ 4,277
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount	$ 180,000				$ 25,000								$ 180,000	$ 25,000
Weighted average pay rate	1.64%				1.81%								1.64%	1.81%
Weighted average receive rate	0.29%				0.21%								0.29%	0.21%
Weighted average maturity													4 years 3 months	5 years
Unrealized loss													$ (1,331)	$ (169)
Interest expense													1,600	1
Amount of Gain/(Loss) Recognized In OCI (Effective Portion)													$ (1,162)	$ (169)
Amount of Gain/(Loss) Reclassified From OCI to Interest Expense
Amount of Gain/(Loss) Recognized in Other Non-Interest Expense (Ineffective Portion)
Fair Value	$ (1,330)				$ (169)								$ (1,330)	$ (169)
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Assets [Member]
Derivative [Line Items]
Notional Amount	15,000												15,000
Fair Value	104												104
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Liabilities [Member]
Derivative [Line Items]
Notional Amount	165,000				$ 25,000								165,000	$ 25,000
Fair Value	(1,434)				$ (169)								(1,434)	$ (169)
Not Designated as Hedging Instrument [Member] | Loan Level Swaps [Member]
Derivative [Line Items]
Notional Amount	$ 27,259												$ 27,259
Weighted average pay rate	3.06%												3.06%
Weighted average receive rate	1.44%												1.44%
Weighted average maturity													15 years 9 months 18 days
Fair Value	$ 1,106												$ 1,106

SHAREHOLDERS EQUITY (Details)

SHAREHOLDERS EQUITY (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Shares issued, price per share		$ 18.01	$ 17
Net proceeds, rights offering		$ 48,358,000	$ 41,100,000
Offering costs		216,000	900,000
Portion of proceeds dedicated to equity		48,200,000	40,500,000
Quarterly cash payment that may be made under Dividend Reinvestment Program	$ 50,000
Percent of fair market value which shares may be purchased at under the DRIP	97.00%
Fair market value discount	3.00%
Sale of shares (dividend reinvestment program), shares	665,654
Sale of shares (dividend reinvestment program)	$ 13,648,000	$ 7,429,000	$ 3,248,000
Shares purchased under voluntary purchase	661,857	411,772
Common Stock [Member]
Class of Stock [Line Items]
Issuance of stock offering net of costs, shares		2,776,215	2,470,588
Sale of shares (dividend reinvestment program), shares	665,654	416,057	200,265
Sale of shares (dividend reinvestment program)	$ 555,000	$ 347,000	$ 167,000
Surplus [Member]
Class of Stock [Line Items]
Sale of shares (dividend reinvestment program)	$ 13,093,000	$ 7,082,000	$ 3,081,000

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Sep. 30, 2013USD ($)	Jun. 30, 2013USD ($)	Mar. 31, 2013USD ($)	Dec. 31, 2015USD ($)segments	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Number of Operating Segments | segments													2
Net interest income	$ 22,819	$ 21,706	$ 20,344	$ 19,583	$ 18,352	$ 17,048	$ 16,923	$ 15,571	$ 14,528	$ 13,373	$ 12,448	$ 12,427	$ 84,452	$ 67,894	$ 52,776
Noninterest income													23,714	20,807	20,595
Total income													108,166	88,701	73,371
Provision for loan losses	1,950	1,600	2,200	1,350	1,250	1,150	1,150	1,325	1,325	750	500	850	7,100	4,875	3,425
Salaries and benefits													40,278	36,241	32,249
Premises and equipment													11,569	9,963	9,914
Other noninterest expense													17,079	13,336	13,020
Total noninterest expense													76,026	64,415	58,608
Income before income tax expense	6,599	8,817	8,377	8,347	6,811	6,257	6,316	4,902	3,530	3,240	3,105	4,888	32,140	24,286	14,763
Income tax expense	2,256	3,434	3,139	3,339	2,599	2,393	2,533	1,871	1,135	1,276	1,096	1,995	12,168	9,396	5,502
Net income	4,343	$ 5,383	$ 5,238	$ 5,008	4,212	$ 3,864	$ 3,783	$ 3,031	2,395	$ 1,964	$ 2,009	$ 2,893	19,972	14,890	9,261
Total assets at period end	3,364,659				2,702,397				1,966,948				3,364,659	2,702,397	1,966,948
Banking [Member]
Net interest income													80,190	64,148	49,209
Noninterest income													6,434	5,336	6,417
Total income													86,624	69,484	55,626
Provision for loan losses													7,100	4,875	3,425
Salaries and benefits													32,133	28,679	26,504
Premises and equipment													10,634	9,207	9,331
Other noninterest expense													12,203	8,922	8,564
Total noninterest expense													62,070	51,683	47,824
Income before income tax expense													24,554	17,801	7,802
Income tax expense													9,217	6,873	2,908
Net income													15,337	10,928	4,894
Total assets at period end	3,328,937				2,676,103				1,964,514				3,328,937	2,676,103	1,964,514
Wealth Management Division [Member]
Net interest income													4,262	3,746	3,567
Noninterest income													17,280	15,471	14,178
Total income													$ 21,542	$ 19,217	$ 17,745
Provision for loan losses
Salaries and benefits													$ 8,145	$ 7,562	$ 5,745
Premises and equipment													935	756	583
Other noninterest expense													4,876	4,414	4,456
Total noninterest expense													13,956	12,732	10,784
Income before income tax expense													7,586	6,485	6,961
Income tax expense													2,951	2,523	2,594
Net income													4,635	3,962	4,367
Total assets at period end	$ 38,440				$ 26,294				$ 2,434				$ 38,440	$ 26,294	$ 2,434

ACQUISITION (Details)

ACQUISITION (Details) - USD ($) $ / shares in Units, $ in Thousands	May. 01, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Recognized amounts of identifiable assets acquired
Goodwill		$ 1,573	$ 563
Intangible Assets
Gross Carrying Amount		1,741
Accumulated Amortization		82
Net		1,659
Amortization of intangible assets		82
Estimated amortization expense
2,016		123
2,017		123
2,018		123
2,019		123
2,020		116
Total		608
Customer Relationships [Member]
Intangible Assets
Gross Carrying Amount		1,685
Accumulated Amortization		75
Net		1,610
Noncompete Agreements [Member]
Intangible Assets
Gross Carrying Amount		56
Accumulated Amortization		7
Net		49
Banking [Member]
Recognized amounts of identifiable assets acquired
Goodwill		563
Wealth Management Division [Member]
Recognized amounts of identifiable assets acquired
Goodwill		$ 1,000
Wealth Management Company [Member]
Consideration
Cash	$ 800
Equity Instruments	2,000
Fair value of total consideration transferred	2,800
Recognized amounts of identifiable assets acquired
Goodwill	1,010
Total assets acquired	$ 2,800
Wealth Management Company [Member] | Common Stock [Member]
Recognized amounts of identifiable assets acquired
Number of equity instruments paid	47,916
Wealth Management Company [Member] | Common Share Warrants [Member]
Consideration
Equity Instruments	$ 1
Recognized amounts of identifiable assets acquired
Number of equity instruments paid	139,860
Fair value per share	$ 7.15
Valuation assumptions
Dividend yield	0.93%
Expected volatility	33.73%
Expected life	7 years
Risk-free interest rate	1.84%
Wealth Management Company [Member] | Customer Relationships [Member]
Recognized amounts of identifiable assets acquired
Intangibles	$ 1,685
Wealth Management Company [Member] | Other Intangible Assets [Member]
Recognized amounts of identifiable assets acquired
Intangibles	$ 105

ACCUMULATED OTHER COMPREHENS101

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Schedule of Accumulated Other Comprehensive Income Balances, Net of Tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 242,267	$ 170,657	$ 122,057
Total other comprehensive (loss)/income	(1,600)	1,198	(4,276)
Balance	275,676	242,267	170,657
Net Unrealized Holding Gain/(Loss) on Securities Available for Sale, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	1,321	23	4,299
Other Comprehensive Income/(Loss) Before Reclassifications	(602)	1,467	(3,730)
Amount Reclassified From Accumulated Other Comprehensive (Income)	(311)	(169)	(546)
Total other comprehensive (loss)/income	(913)	1,298	(4,276)
Balance	408	$ 1,321	$ 23
Losses on Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(100)
Other Comprehensive Income/(Loss) Before Reclassifications	$ (687)	$ (100)
Amount Reclassified From Accumulated Other Comprehensive (Income)
Total other comprehensive (loss)/income	$ (687)	$ (100)
Balance	(787)	(100)
Accumulated Other Comprehensive Income/(Loss), Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	1,221	23	$ 4,299
Other Comprehensive Income/(Loss) Before Reclassifications	(1,287)	1,367	(3,730)
Amount Reclassified From Accumulated Other Comprehensive (Income)	(311)	(169)	(546)
Total other comprehensive (loss)/income	(1,600)	1,198	(4,276)
Balance	$ (379)	$ 1,221	$ 23

ACCUMULATED OTHER COMPREHENS102

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Schedule of Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities gains, net		$ 83	$ 176	$ 268	$ 44	$ 39	$ 79	$ 98	$ 125	$ 188	$ 238	$ 289	$ 527	$ 260	$ 840
Interest expense	$ 4,304	4,100	3,508	2,778	2,434	2,162	1,707	1,378	1,210	1,050	1,012	1,005	14,690	7,681	4,277
Income tax expense	(2,256)	(3,434)	(3,139)	(3,339)	(2,599)	(2,393)	(2,533)	(1,871)	(1,135)	(1,276)	(1,096)	(1,995)	(12,168)	(9,396)	(5,502)
Net income	$ 4,343	$ 5,383	$ 5,238	$ 5,008	$ 4,212	$ 3,864	$ 3,783	$ 3,031	$ 2,395	$ 1,964	$ 2,009	$ 2,893	19,972	14,890	9,261
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense													(216)	(91)	(294)
Net income													311	169	546
Net Unrealized Holding Gain/(Loss) on Securities Available for Sale, Net of Tax [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities gains, net													$ 527	$ 260	$ 840
Unrealized Losses on the Noncredit, Other-than-Temporarily Impaired Held to Maturity Securities and on Securities Transferred from Available for Sale to Held to Maturity [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities gains, net
Losses on Cash Flow Hedge [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense

CONDENSED FINANCIAL STATEMEN103

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF CONDITION) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Assets
Cash	$ 11,550	$ 6,621
Interest-earning deposits	58,509	24,485
Total cash and cash equivalents	70,160	31,207	$ 35,147	$ 119,228
Securities available for sale	195,630	332,652
Other assets	14,364	12,678
Total assets	3,364,659	2,702,397	1,966,948
Liabilities
Other liabilities	18,899	12,433
Total liabilities	3,088,983	2,460,130
Shareholders' equity
Common stock	13,717	12,954
Surplus	213,203	195,829
Treasury stock	(8,988)	(8,988)
Retained earnings	58,123	41,251
Accumulated other comprehensive (loss)/income, net of income tax benefit	(379)	1,221
Total shareholders' equity	275,676	242,267	$ 170,657	$ 122,057
Total liabilities and shareholders' equity	3,364,659	2,702,397
The Corporation [Member]
Assets
Cash	1,489	9,311
Interest-earning deposits	515	516
Total cash and cash equivalents	$ 2,004	$ 9,827
Securities available for sale
Investment in subsidiary	$ 273,580	$ 232,461
Other assets	414	220
Total assets	275,998	242,508
Liabilities
Other liabilities	322	241
Total liabilities	322	241
Shareholders' equity
Common stock	13,717	12,954
Surplus	213,203	195,829
Treasury stock	(8,988)	(8,988)
Retained earnings	58,123	41,251
Accumulated other comprehensive (loss)/income, net of income tax benefit	(379)	1,221
Total shareholders' equity	275,676	242,267
Total liabilities and shareholders' equity	$ 275,998	$ 242,508

CONDENSED FINANCIAL STATEMEN104

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF INCOME) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income
Other income													$ 23,714	$ 20,807	$ 20,595
Securities gains, net		$ 83	$ 176	$ 268	$ 44	$ 39	$ 79	$ 98	$ 125	$ 188	$ 238	$ 289	527	260	840
Expenses
Other expenses													17,079	13,336	13,020
Total operating expenses	$ 19,993	16,899	16,266	15,768	15,578	14,693	14,930	14,339	14,646	14,165	14,079	12,293
Income before income tax expense	6,599	8,817	8,377	8,347	6,811	6,257	6,316	4,902	3,530	3,240	3,105	4,888	32,140	24,286	14,763
Income tax benefit	2,256	3,434	3,139	3,339	2,599	2,393	2,533	1,871	1,135	1,276	1,096	1,995	12,168	9,396	5,502
Net income	$ 4,343	$ 5,383	$ 5,238	$ 5,008	$ 4,212	$ 3,864	$ 3,783	$ 3,031	$ 2,395	$ 1,964	$ 2,009	$ 2,893	19,972	14,890	9,261
Other comprehensive (loss)/income													(1,600)	1,198	(4,276)
Total comprehensive income													$ 18,372	$ 16,088	4,985
The Corporation [Member]
Income
Dividend from Bank															1,350
Other income													$ 1	$ 1	9
Securities gains, net															2
Total income													$ 1	$ 1	1,361
Expenses
Other expenses													525	637	429
Total operating expenses													525	637	429
Income before income tax expense													(524)	(636)	932
Income tax benefit													(180)	(216)	(50)
Net (loss)/income before equity in undistributed earnings of Bank													(344)	(420)	982
Equity in undistributed earnings of Bank/(dividends in excess of earnings)													20,316	15,310	8,279
Net income													19,972	14,890	9,261
Other comprehensive (loss)/income													(1,600)	1,198	(4,276)
Total comprehensive income													$ 18,372	$ 16,088	$ 4,985

CONDENSED FINANCIAL STATEMEN105

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF CASH FLOWS) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income	$ 4,343	$ 5,383	$ 5,238	$ 5,008	$ 4,212	$ 3,864	$ 3,783	$ 3,031	$ 2,395	$ 1,964	$ 2,009	$ 2,893	$ 19,972	$ 14,890	$ 9,261
Gain on securities available for sale													(527)	(260)	(840)
(Increase)/decrease in other assets													(476)	2,590	5,643
Increase/(decrease) in other liabilities													3,504	1,153	2,315
Net cash provided by operating activities													30,306	27,263	32,702
Cash flows from investing activities:
Proceeds from sales and calls of securities available for sale													46,254	35,411	54,881
Net cash used in by investing activities													(625,427)	(745,159)	(407,686)
Cash flows from financing activities:
Cash dividends paid on common stock													(3,100)	(2,414)	(1,802)
Exercise of stock options, net stock swaps													$ 86	174	30
Net proceeds, rights offering														48,358	41,100
Issuance of common shares (DRIP program)													$ 13,648	7,429	3,248
Purchase of shares of profit sharing plan														70	130
Net cash provided by financing activities													$ 634,074	713,956	290,903
Net increase/(decrease) in cash and cash equivalents													39,124	(3,940)	(84,081)
The Corporation [Member]
Cash flows from operating activities:
Net income													19,972	14,890	9,261
Undistributed (earnings)/loss of Bank													$ (20,316)	$ (15,310)	(8,279)
Gain on securities available for sale															(2)
(Increase)/decrease in other assets													$ (194)	$ 427	(37)
Increase/(decrease) in other liabilities													81	(63)	179
Net cash provided by operating activities													(457)	(56)	$ 1,122
Cash flows from investing activities:
Capital contribution to subsidiary													$ (18,000)	$ (88,674)
Proceeds from sales and calls of securities available for sale															$ 213
Net cash used in by investing activities													$ (18,000)	$ (88,674)	213
Cash flows from financing activities:
Cash dividends paid on common stock													(3,100)	(2,414)	(1,802)
Exercise of stock options, net stock swaps													$ 86	174	30
Net proceeds, rights offering														48,358	41,100
Issuance of common shares (DRIP program)													$ 13,648	7,429	3,248
Purchase of shares of profit sharing plan														70	130
Net cash provided by financing activities													$ 10,634	53,617	42,706
Net increase/(decrease) in cash and cash equivalents													(7,823)	(35,113)	44,041
Cash and cash equivalents at beginning of period				$ 9,827				$ 44,940				$ 899	9,827	44,940	899
Cash and cash equivalents at end of period	$ 2,004				$ 9,827				$ 44,940				$ 2,004	$ 9,827	$ 44,940

SUPPLEMENTAL DATA (unaudited106

SUPPLEMENTAL DATA (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SUPPLEMENTAL DATA (unaudited) [Abstract]
Interest income	$ 27,123	$ 25,806	$ 23,852	$ 22,361	$ 20,786	$ 19,210	$ 18,630	$ 16,949	$ 15,738	$ 14,423	$ 13,460	$ 13,432	$ 99,142	$ 75,575	$ 57,053
Interest expense	4,304	4,100	3,508	2,778	2,434	2,162	1,707	1,378	1,210	1,050	1,012	1,005	14,690	7,681	4,277
Net interest income before provision for loan losses	22,819	21,706	20,344	19,583	18,352	17,048	16,923	15,571	14,528	13,373	12,448	12,427	84,452	67,894	52,776
Provision for loan losses	1,950	1,600	2,200	1,350	1,250	1,150	1,150	1,325	1,325	750	500	850	7,100	4,875	3,425
Wealth management fee income	4,307	4,169	4,532	4,031	3,822	3,661	4,005	3,754	3,547	3,295	3,628	3,368	17,039	15,242	13,838
Securities gains/(losses), net		83	176	268	44	39	79	98	125	188	238	289	527	260	840
Other income	1,416	1,358	1,791	1,583	1,421	1,352	1,389	1,143	1,301	1,299	1,370	1,947
Operating expenses	19,993	16,899	16,266	15,768	15,578	14,693	14,930	14,339	14,646	14,165	14,079	12,293
Income before income tax expense	6,599	8,817	8,377	8,347	6,811	6,257	6,316	4,902	3,530	3,240	3,105	4,888	32,140	24,286	14,763
Income tax expense	2,256	3,434	3,139	3,339	2,599	2,393	2,533	1,871	1,135	1,276	1,096	1,995	12,168	9,396	5,502
Net income	$ 4,343	$ 5,383	$ 5,238	$ 5,008	$ 4,212	$ 3,864	$ 3,783	$ 3,031	$ 2,395	$ 1,964	$ 2,009	$ 2,893	$ 19,972	$ 14,890	$ 9,261
EARNINGS PER COMMON SHARE
Earnings per share-basic	$ 0.28	$ 0.35	$ 0.34	$ 0.34	$ 0.32	$ 0.33	$ 0.32	$ 0.26	$ 0.25	$ 0.22	$ 0.23	$ 0.33	$ 1.31	$ 1.23	$ 1.02
Earnings per share-diluted	$ 0.28	$ 0.35	$ 0.34	$ 0.33	$ 0.32	$ 0.32	$ 0.32	$ 0.26	$ 0.25	$ 0.22	$ 0.22	$ 0.32	$ 1.29	$ 1.22	$ 1.01