Peapack-Gladstone Financial (PGC) 10-Q 9 May 16 2015 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 30, 2016
Document And Entity Information
Entity Registrant Name	PEAPACK GLADSTONE FINANCIAL CORP
Entity Central Index Key	1,050,743
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		16,324,747
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,015
Trading Symbol	PGC

CONSOLIDATED STATEMENTS OF COND

CONSOLIDATED STATEMENTS OF CONDITION - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Cash and due from banks	$ 15,872	$ 11,550
Federal funds sold	101	101
Interest-earning deposits	61,946	58,509
Total cash and cash equivalents	77,919	70,160
Securities available for sale	214,050	195,630
FHLB and FRB stock, at cost	13,254	13,984
Residential mortgage loans held for sale, at fair value	3,537	1,558
Multifamily mortgage loans held for sale, at lower of cost or fair value	38,066	82,200
Loans	3,027,701	2,913,242
Less: Allowance for loan losses	27,321	25,856
Net loans	3,000,380	2,887,386
Premises and equipment	29,609	30,246
Other real estate owned	861	563
Accrued interest receivable	7,497	6,820
Bank owned life insurance	43,101	42,885
Deferred tax assets, net	17,952	15,582
Goodwill	1,573	1,573
Other intangible assets	1,691	1,708
Other assets	16,507	14,364
TOTAL ASSETS	3,465,997	3,364,659
Deposits:
Noninterest-bearing demand deposits	457,730	419,887
Interest-bearing deposits:
Interest-bearing deposits checking	905,479	861,697
Savings	119,149	115,007
Money market accounts	820,757	810,709
Certificates of deposit - Retail	446,833	434,450
Subtotal deposits	2,749,948	2,641,750
Interest-bearing demand - Brokered	200,000	200,000
Certificates of deposit - Brokered	93,630	93,720
Total deposits	3,043,578	2,935,470
Overnight borrowings with Federal Home Loan Bank	21,100	40,700
Federal Home Loan Bank advances	83,692	83,692
Capital lease obligation	10,092	10,222
Accrued expenses and other liabilities	24,030	18,899
TOTAL LIABILITIES	$ 3,182,492	$ 3,088,983
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, 16,735,018 at March 31, 2016 and 16,476,297 at December 31, 2015; outstanding shares, 16,326,840 at March 31, 2016 and 16,068,119 at December 31, 2015	$ 13,932	$ 13,717
Surplus	217,766	213,203
Treasury stock at cost, 408,178 shares at March 31, 2016 and December 31, 2015	(8,988)	(8,988)
Retained earnings	62,809	58,123
Accumulated other comprehensive loss, net of income tax	(2,014)	(379)
TOTAL SHAREHOLDERS' EQUITY	283,505	275,676
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY	$ 3,465,997	$ 3,364,659

CONSOLIDATED STATEMENTS OF CON3

CONSOLIDATED STATEMENTS OF CONDITION (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
CONSOLIDATED STATEMENTS OF CONDITION [Abstract]
Preferred stock, par value
Preferred stock, shares authorized	500,000	500,000
Preferred stock, liquidation preference per share	$ 1,000	$ 1,000
Common stock, stated value	$ 0.83	$ 0.83
Common stock, shares authorized	21,000,000	21,000,000
Common stock, shares issued	16,735,018	16,476,297
Common stock, shares outstanding	16,326,840	16,068,119
Treasury stock, shares	408,178	408,178

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
INTEREST INCOME
Interest and fees on loans	$ 26,753	$ 20,986
Interest on securities available for sale:
Taxable	926	1,182
Tax-exempt	121	140
Interest on loans held for sale	11	10
Interest on interest-earning deposits	87	43
Total interest income	27,898	22,361
INTEREST EXPENSE
Interest on savings and interest-bearing deposit accounts	1,160	791
Interest on certificates of deposit	1,489	663
Interest on borrowed funds	479	392
Interest on capital lease obligation	122	128
Subtotal - interest expense	3,250	1,974
Interest on interest-bearing demand - brokered	741	280
Interest on certificates of deposits - brokered	497	524
Total Interest expense	4,488	2,778
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES	23,410	19,583
Provision for loan losses	1,700	1,350
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	21,710	18,233
OTHER INCOME
Wealth management fee income	4,295	4,031
Service charges and fees	807	805
Bank owned life insurance	342	537
Gain on loans held for sale at fair value (Mortgage banking)	121	$ 148
Gain on loans held for sale at lower of cost or fair value	124
Other income	473	$ 93
Securities gains, net	101	268
Total other income	6,263	5,882
OPERATING EXPENSES
Salaries and employee benefits	10,908	9,425
Premises and equipment	2,864	2,616
Other operating expense	5,434	3,727
Total noninterest expense	19,206	15,768
INCOME BEFORE INCOME TAX EXPENSE	8,767	8,347
Income tax expense	3,278	3,339
NET INCOME	$ 5,489	$ 5,008
EARNINGS PER SHARE
Basic (in dollars per share)	$ 0.35	$ 0.34
Diluted (in dollars per share)	$ 0.34	$ 0.33
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic (in shares)	15,858,278	14,909,722
Diluted (in shares)	16,016,972	15,070,352

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONSOLIDATED STATEMENTS OF INCOME [Abstract]
Net income	$ 5,489	$ 5,008
Unrealized gains on available for sale securities:
Unrealized holding gains arising during the period	1,106	1,232
Less: Reclassification adjustment for net gains included in net income	101	268
Before tax	1,005	964
Tax effect	(380)	(359)
Net of tax	625	605
Unrealized loss on cash flow hedges
Unrealized holding loss	$ (3,820)	$ (992)
Reclassification adjustment for losses included in net income
Before tax	$ (3,820)	$ (992)
Tax effect	1,560	405
Net of tax	(2,260)	(587)
Total other comprehensive (loss)/income	(1,635)	18
Total comprehensive income	$ 3,854	$ 5,026

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Surplus [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Balance at Dec. 31, 2014					$ 1,221
Net income						$ 5,008
Other comprehensive loss					18	18
Balance at Mar. 31, 2015					1,239
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
Net income				5,489		$ 5,489
Other comprehensive loss					$ (1,635)	$ (1,635)
Issuance of restricted stock, net of forfeitures	$ (1)	$ 1
Issuance of restricted stock, net of forfeitures, shares	823
Restricted stock repurchased on vesting to pay taxes	$ (18)	(434)				$ (452)
Restricted stock repurchased on vesting to pay taxes, shares	21,739
Amortization of restricted stock		$ 589				589
Cash dividends declared on common stock				(803)		(803)
Common stock option expense		$ 20				20
Common stock options exercised and related tax benefits	$ 4	58				62
Common stock options exercised and related tax benefits, shares	4,615
Sales of shares (Dividend Reinvestment Program)	$ 222	4,163				4,385
Sales of shares (Dividend Reinvestment Program), shares	267,124
Issuance of shares for Employee Stock Purchase Plan	$ 8	166				174
Issuance of shares for Employee Stock Purchase Plan, shares	9,544
Balance at Mar. 31, 2016	$ 13,932	$ 217,766	$ (8,988)	$ 62,809	$ (2,014)	$ 283,505
Shares outstanding at Mar. 31, 2016	16,326,840					16,326,840

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical)	3 Months Ended
	Mar. 31, 2016$ / shares
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY [Abstract]
Cash dividends declared on common stock, per share	$ 0.05

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING ACTIVITIES:
Net income	$ 5,489	$ 5,008
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	756	798
Amortization of premium and accretion of discount on securities, net	344	499
Amortization of restricted stock	589	$ 476
Amortization of intangible	17
Provision of loan losses	1,700	$ 1,350
(Benefit)/provision for deferred taxes	(1,190)	79
Stock-based compensation, including ESPP	55	92
Gains on securities, available for sale	(101)	(268)
Loans originated for sale at fair value	(8,062)	(13,183)
Proceeds from sales of loans at fair value	6,204	9,925
Gains on loans held for sale at fair value	(121)	$ (148)
Net gains on loans held for sale at lower of cost or fair value	$ (124)
Losses on sale of other real estate owned		$ 45
Increase in cash surrender value of life insurance, net	$ (216)	(162)
Increase in accrued interest receivable	(677)	(572)
(Increase)/decrease in other assets	(1,168)	1,421
Increase/(decrease) in accrued expenses, capital lease obligations and other liabilities	169	(84)
NET CASH PROVIDED BY OPERATING ACTIVITIES	3,664	5,276
INVESTING ACTIVITIES:
Maturities of securities available for sale	12,169	24,431
Redemptions for FHLB & FRB stock	17,338	9,509
Call of securities available for sale	1,540	11,000
Sales of securities available for sale	4,194	22,386
Purchase of securities available for sale	(35,559)	(551)
Purchase of FHLB & FRB stock	(16,608)	$ (8,514)
Proceeds from sales of loans held for sale at lower of cost or fair value	57,436
Net increase in loans	$ (128,170)	$ (192,047)
Sales of other real estate owned		176
Purchase of premises and equipment	$ (119)	(608)
NET CASH USED IN INVESTING ACTIVITIES	(87,779)	(134,218)
FINANCING ACTIVITIES:
Net increase in deposits	108,108	223,639
Net decrease in overnight borrowings	(19,600)	(54,600)
Cash dividends paid on common stock	(803)	(757)
Exercise of Stock Options, net of stock swap	62	27
Restricted stock tax expense	(452)	(23)
Sales of shares (DRIP Program)	4,385	2,121
Purchase of shares for Profit Sharing Plan	174	151
NET CASH PROVIDED BY FINANCING ACTIVITIES	91,874	170,558
Net increase in cash and cash equivalents	7,759	41,616
Cash and cash equivalents at beginning of period	70,160	31,207
Cash and cash equivalents at end of period	77,919	72,823
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest	4,304	2,463
Taxes	5,800	$ 1,850
Transfer of loans to loans held for sale	13,178
Transfer of loans to other real estate owned	$ 298

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES.	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Certain information and footnote disclosures normally included in the audited consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the period ended December 31, 2015 for Peapack-Gladstone Financial Corporation (the “Corporation” or the “Company”). In the opinion of the Management of the Corporation, the accompanying unaudited Consolidated Interim Financial Statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position as of March 31, 2016 and the results of operations, comprehensive income, and cash flows statements for the three months ended March 31, 2016 and 2015, and shareholders' equity statement for the three months ended March 31, 2016. Principles of Consolidation and Organization: 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, PGB Trust & Investments of Delaware. Income is recognized as earned. Cash and Cash Equivalents: 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 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 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 Consumer and Other 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. Stock-Based Compensation: ten five For the three months ended March 31, 2016 and 2015, the Company recorded total compensation cost for stock options of $ 20 65 2 6 166 0.62 For the Company's stock option plans, changes in options outstanding during the three months ended March 31, 2016 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In thousands) Balance, January 1, 2016 267,289 $ 17.28 Granted during 2016 — — Exercised during 2016 (4,615 ) 13.39 Expired during 2016 (12,529 ) 22.07 Forfeited during 2016 (340 ) 15.18 Balance, March 31, 2016 249,805 17.12 4.22 — Vested and expected to vest (1) 246,030 17.20 4.22 — Exercisable at March 31, 2016 235,823 17.30 4.08 31 (1) Does not include shares which are not expected to vest as a result of anticipated forfeitures. The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price on the last trading day of the first quarter of 2016 and the exercise price, multiplied by the number of in-the-money options). The Company's closing stock price on March 31, 2016 was $ 16.90 There were no stock options granted in the three months ended March 31, 2016. The Company has previously granted performance based and service based restricted stock awards. In the first quarter of 2016, the Company granted 185,609 one three five The performance based awards that were granted in previous periods, are dependent upon the Company meeting certain performance criteria and cliff vest at the end of the performance period. During the fourth quarter of 2015, the Company concluded that the performance targets would not be met and therefore, reversed approximately $ 592 1.7 Changes in nonvested shares dependent on performance criteria for the three months ended March 31, 2016 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2016 92,767 $ 18.12 Granted during 2016 — — Vested during 2016 — — Forfeited during 2016 — — Balance, March 31, 2016 92,767 $ 18.12 Changes in service based restricted stock awards/units for the three months ended March 31, 2016 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2016 321,421 $ 19.44 Granted during 2016 185,609 16.96 Vested during 2016 (91,785 ) 18.24 Forfeited during 2016 (823 ) 20.66 Balance, March 31, 2016 414,422 $ 18.59 As of March 31, 2016, there was $ 7.7 2.54 589 476 Employee Stock Purchase Plan (“ESPP”): 150,000 one 15 85 The Company recorded $ 35 27 2015 9,544 7,888 Earnings per share – Basic and Diluted: Three Months Ended March 31, (Dollars in thousands, except per share data) 2016 2015 Net income to shareholders $ 5,489 $ 5,008 Basic weighted-average shares outstanding 15,858,278 14,909,722 Plus: common stock equivalents 158,694 160,630 Diluted weighted-average shares outstanding 16,016,972 15,070,352 Net income per share Basic $ 0.35 $ 0.34 Diluted 0.34 0.33 Stock options totaling 225,278 163,297 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 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. Loss Contingencies: Restrictions on Cash: Comprehensive Income: 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

INVESTMENT SECURITIES AVAILABLE

INVESTMENT SECURITIES AVAILABLE FOR SALE	3 Months Ended
	Mar. 31, 2016
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 securities available for sale included in the consolidated statements of condition as of March 31, 2016 and December 31, 2015 follows: March 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored entities $ 7,986 $ 17 $ — $ 8,003 Mortgage-backed securities – residential 164,981 2,087 (81 ) 166,987 SBA pool securities 7,504 — (95 ) 7,409 State and political subdivisions 25,904 424 (15 ) 26,313 Single-issuer trust preferred security 2,999 — (641 ) 2,358 CRA investment 3,000 — (20 ) 2,980 Total $ 212,374 $ 2,528 $ (852 ) $ 214,050 December 31, 2015 Gross Gross Amortized Unrealized Unrealized 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 3,000 — (61 ) 2,939 Total $ 194,959 $ 1,710 $ (1,039 ) $ 195,630 The following tables present the Corporation's available for sale securities with continuous unrealized losses and the approximate fair value of these investments as of March 31, 2016 and December 31, 2015. March 31, 2016 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Mortgage-backed securities-residential $ 10,956 $ (38 ) $ 7,211 $ (43 ) $ 18,167 $ (81 ) SBA pool securities — — 7,409 (95 ) 7,409 (95 ) State and political subdivisions 2,890 (15 ) — — 2,890 (15 ) Single-issuer trust preferred security — — 2,358 (641 ) 2,358 (641 ) CRA investment fund — — 2,980 (20 ) 2,980 (20 ) Total $ 13,846 $ (53 ) $ 19,958 $ (799 ) $ 33,804 $ (852 ) December 31, 2015 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses 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 ) Management believes that the unrealized losses on investment securities available for sale are temporary and are due to interest rate fluctuations and/or volatile market conditions rather than the creditworthiness of the issuers. As of March 31, 2016, 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; therefore, none of the securities in unrealized loss position were determined to be other-than-temporarily impaired. At March 31, 2016, the unrealized loss on the single-issuer trust preferred security of $ 641

LOANS

LOANS	3 Months Ended
	Mar. 31, 2016
LOANS [Abstract]
LOANS	3. LOANS Loans outstanding, excluding those held for sale, by general ledger classification, as of March 31, 2016 and December 31, 2015, consisted of the following: % of % of March 31, Totals December 31, Total (In thousands) 2016 Loans 2015 Loans Residential mortgage $ 469,084 15.49 $ 470,869 16.16 Multifamily mortgage 1,489,708 49.20 1,416,775 48.63 Commercial mortgage 414,677 13.70 413,118 14.18 Commercial loans 554,871 18.33 512,886 17.60 Construction loans 1,392 0.05 1,401 0.05 Home equity lines of credit 53,328 1.76 52,649 1.81 Consumer loans, including fixed rate home equity loans 44,198 1.46 45,044 1.55 Other loans 443 0.01 500 0.02 Total loans $ 3,027,701 100.00 $ 2,913,242 100.00 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 March 31, 2016 and December 31, 2015: % of % of March 31, Totals December 31, Total (In thousands) 2016 Loans 2015 Loans Primary residential mortgage $ 499,734 16.52 $ 483,085 16.59 Home equity lines of credit 53,481 1.77 52,804 1.81 Junior lien loan on residence 10,686 0.35 11,503 0.39 Multifamily property 1,489,708 49.22 1,416,775 48.66 Owner-occupied commercial real estate 163,495 5.40 176,276 6.05 Investment commercial real estate 587,213 19.41 568,849 19.54 Commercial and industrial 173,299 5.73 154,295 5.30 Secured by farmland/agricultural production 177 0.01 179 0.01 Commercial construction loans 150 0.01 151 0.01 Consumer and other loans 47,894 1.58 47,635 1.64 Total loans $ 3,025,837 100.00 $ 2,911,552 100.00 Net deferred costs 1,864 1,690 Total loans including net deferred costs $ 3,027,701 $ 2,913,242 The following tables present the loan balances by portfolio class, based on impairment method, and the corresponding balances in the allowance for loan losses (ALLL) as of March 31, 2016 and December 31, 2015: March 31, 2016 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 ALL Primary residential mortgage $ 10,165 $ 297 $ 489,569 $ 2,206 $ 499,734 $ 2,503 Home equity lines of credit 153 — 53,328 133 53,481 133 Junior lien loan on residence 171 — 10,515 13 10,686 13 Multifamily property — — 1,489,708 11,631 1,489,708 11,631 Owner-occupied commercial real estate 1,264 — 162,231 1,683 163,495 1,683 Investment commercial real estate 11,446 58 575,767 8,469 587,213 8,527 Commercial and industrial 136 136 173,163 2,555 173,299 2,691 Secured by farmland and agricultural production — — 177 2 177 2 Commercial construction — — 150 2 150 2 Consumer and Other — — 47,894 136 47,894 136 Total ALLL $ 23,335 $ 491 $ 3,002,502 $ 26,830 $ 3,025,837 $ 27,321 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 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 Impaired loans include nonaccrual loans of $ 7.3 6.7 15.8 16.2 491 160 441 162 The following tables present loans individually evaluated for impairment by class of loans as of March 31, 2016 and December 31, 2015 (The average impaired loans on the following tables represent year to date impaired loans.): March 31, 2016 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 9,766 $ 8,160 $ — $ 7,217 Owner-occupied commercial real estate 1,460 1,264 — 1,270 Investment commercial real estate 10,812 10,205 — 10,224 Home equity lines of credit 354 153 — 186 Junior lien loan on residence 622 171 — 320 Total loans with no related allowance $ 23,014 $ 19,953 $ — $ 19,217 With related allowance recorded: Primary residential mortgage $ 2,040 $ 2,005 $ 297 $ 1,671 Investment commercial real estate 1,241 1,241 58 1,246 Commercial and industrial 179 136 136 148 Total loans with related allowance $ 3,460 $ 3,382 $ 491 $ 3,065 Total loans individually evaluated for impairment $ 26,474 $ 23,335 $ 491 $ 22,282 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 Interest income recognized on impaired loans for the three months ended March 31, 2016 and 2015, was not material. The Company did not recognize any income on nonaccruing impaired loans for the three months ended March 31, 2016 and 2015. Loans held for sale, at lower of cost or fair value at March 31, 2016, represents loans (including loan participations) that the Company has the intent to sell. The Company expects sale price to approximate recorded investment. During the quarter, proceeds for sale of loans held for sale, at lower of cost or fair value totaled $ 57.4 124 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 March 31, 2016 and December 31, 2015: March 31, 2016 Loans Past Due Over 90 Days And Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 5,226 $ — Home equity lines of credit 129 — Junior lien loan on residence 114 — Owner-occupied commercial real estate 1,265 — Investment commercial real estate 408 — Commercial and industrial 136 — Total $ 7,278 $ — 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 $ — The following tables present the aging of the recorded investment in past due loans as of March 31, 2016 and December 31, 2015 by class of loans, excluding nonaccrual loans: March 31, 2016 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 1,240 $ — $ — $ 1,240 Home equity lines of credit — 145 — 145 Consumer and other — 8 — 8 Total $ 1,240 $ 153 $ — $ 1,393 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 Credit Quality Indicators: The Company places all commercial loans into various credit risk rating categories based on an assessment of the expected ability of the borrowers to properly service their debt. The assessment considers numerous factors including, but not limited to, current financial information on the borrower, historical payment experience, strength of any guarantor, nature of and value of any collateral, acceptability of the loan structure and documentation, relevant public information and current economic trends. This credit risk rating analysis is performed when the loan is initially underwritten and is subsequently 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 between $500,000 and $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 risk ratings: Special Mention: Substandard: Doubtful: Loans that are considered to be impaired are individually evaluated for potential loss and allowance adequacy. Loans not deemed impaired are collectively evaluated for potential loss and allowance adequacy. As of March 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 488,749 $ 679 $ 10,306 $ — Home equity lines of credit 53,328 — 153 — Junior lien loan on residence 10,515 — 171 — Multifamily property 1,480,843 7,677 1,188 — Owner-occupied commercial real estate 157,713 917 4,865 — Investment commercial real estate 549,068 6,147 31,998 — Commercial and industrial 168,128 5,035 136 — Farmland 177 — — — Commercial construction — 150 — — Consumer and other loans 47,894 — — — Total $ 2,956,415 $ 20,605 $ 48,817 $ — As of December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: 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 — Farmland 179 — — — Agricultural production — — — — Commercial construction — 151 — — Consumer and other loans 47,635 — — — Total $ 2,847,245 $ 21,530 $ 42,777 $ — At March 31, 2016, $ 22.1 21.8 The activity in the allowance for loan losses for the three months ended March 31, 2016 is summarized below: July 1, March 31, 2016 Provision 2016 Beginning (Credit) Ending (In thousands) ALLL Charge-offs Recoveries ALLL Primary residential mortgage $ 2,297 $ (13 ) $ 14 $ 205 $ 2,503 Home equity lines of credit 86 — 2 45 133 Junior lien loan on residence 66 — 17 (70 ) 13 Multifamily property 11,813 — — (182 ) 11,631 Owner-occupied commercial real estate 1,679 — — 4 1,683 Investment commercial real estate 7,590 (258 ) 2 1,193 8,527 Commercial and industrial 2,209 (3 ) 4 481 2,691 Secured by farmland and agricultural production 2 — — — 2 Commercial construction 2 — — — 2 Consumer and other loans 112 (1 ) 1 24 136 Total ALLL $ 25,856 $ (275 ) $ 40 $ 1,700 $ 27,321 The activity in the allowance for loan losses for the three months ended September 30, 2014 is summarized below: January 1, March 31, 2015 Provision 2015 Beginning (Credit) Ending (In thousands) ALLL Charge-offs Recoveries ALLL Primary residential mortgage $ 2,923 $ (43 ) $ 66 $ (632 ) $ 2,314 Home equity lines of credit 156 (100 ) — 41 97 Junior lien loan on residence 109 — 28 (66 ) 71 Multifamily property 8,983 — — (245 ) 8,738 Owner-occupied commercial real estate 1,547 — 11 789 2,347 Investment commercial real estate 4,751 — 6 1,378 6,135 Commercial and industrial 880 — 25 106 1,011 Secured by farmland and agricultural production 4 — — (1 ) 3 Commercial construction 31 — — (8 ) 23 Consumer and other loans 96 (17 ) 10 (12 ) 77 Total ALLL $ 19,480 $ (160 ) $ 146 $ 1,350 $ 20,816 Troubled Debt Restructurings: The Company has allocated $ 491 thousand and $ 441 thousand of specific reserves on TDRs to customers whose loan terms have been modified in TDRs as of March 31, 2016 and December 31, 2015, respectively. There were no unfunded commitments to lend additional amounts to customers with outstanding loans that are classified as TDRs . During the three month period ended March 31, 2016, the terms of certain loans were modified as TDRs. The modification of the terms of such loans included one or a combination of the following: The following table presents loans by class modified as TDRs that occurred during the three month period ended March 31, 2016: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 2 $ 1,133 $ 1,133 Total 2 $ 1,133 $ 1,133 The identification of the troubled debt restructurings did not have a significant impact on the allowance for loan losses. There were no new TDRs that occurred during the three month period ending March 31, 2015. There were no loans that were modified as TDRs for which there was a payment default, within twelve months of modification, during the three months ended March 31, 2016 and March 31, 2015. 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, if applicable, and an updated independent appraisal of any 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 TDR. At a minimum, six months of contractual payments would need to be made on a restructured loan before a loan may be considered for return to accrual status.

DEPOSITS

DEPOSITS	3 Months Ended
	Mar. 31, 2016
DEPOSITS [Abstract]
DEPOSITS	4. DEPOSITS Certificates of deposit, excluding brokered certificates of deposit over $250,000 totaled $ 120.1 47.4 The following table sets forth the details of total deposits as of March 31, 2016 and December 31, 2015 March 31, December 31, 2016 2015 (In thousands) $ % $ % Noninterest-bearing demand deposits $ 457,730 15.04 % $ 419,887 14.30 % Interest-bearing checking 905,479 29.75 861,697 29.36 Savings 119,149 3.91 115,007 3.92 Money market 820,757 26.97 810,709 27.62 Certificates of deposit 446,833 14.68 434,450 14.80 Subtotal deposits 2,749,948 90.35 2,641,750 90.00 Interest-bearing demand - Brokered 200,000 6.57 200,000 6.81 Certificates of deposit - Brokered 93,630 3.08 93,720 3.19 Total deposits $ 3,043,578 100.00 % $ 2,935,470 100.00 % The scheduled maturities of certificates of deposit, including brokered deposits, as of March 31, 2016 are as follows: (In thousands) 2016 $ 77,568 2017 102,202 2018 181,386 2019 65,310 2020 34,426 Over 5 Years 79,571 Total $ 540,463

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	3 Months Ended
	Mar. 31, 2016
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS [Abstract]
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	5. FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS Advances from the Federal Home Loan Bank of New York (“FHLB”) totaled $ 83.7 1.78 At March 31, 2016 advances totaling $ 71.7 1.57 382.4 961.3 Also at March 31, 2016, the Corporation had $ 12.0 3.01 17.6 The final maturity dates of the FHLB advances are scheduled as follows: (In thousands) 2016 $ 21,897 2017 23,897 2018 34,898 2019 3,000 2020 — Over 5 years — Total $ 83,692 Overnight borrowings with the Federal Home Loan Bank totaled $ 21.1 0.49 40.7 0.52

BUSINESS SEGMENTS

BUSINESS SEGMENTS	3 Months Ended
	Mar. 31, 2016
BUSINESS SEGMENTS [Abstract]
BUSINESS SEGMENTS	6. BUSINESS SEGMENTS The Corporation assesses its results among two Banking The Banking segment includes lending and depository products and services, as well as various electronic banking services. 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 tables present the statements of income and total assets for the Corporation's reportable segments for the three months ended March 31, 2016 and 2015. Three Months Ended March 31, 2016 Wealth Management (In thousands) Banking Division Total Net interest income $ 21,990 $ 1,420 $ 23,410 Noninterest income 1,880 4,383 6,263 Total income 23,870 5,803 29,673 Provision for loan losses 1,700 — 1,700 Salaries and benefits 8,813 2,095 10,908 Premises and equipment expense 2,637 227 2,864 Other noninterest expense 3,917 1,517 5,434 Total noninterest expense 17,067 3,839 20,906 Income before income tax expense 6,803 1,964 8,767 Income tax expense 2,514 764 3,278 Net income $ 4,289 $ 1,200 $ 5,489 Total assets for period end $ 3,415,432 $ 53,252 $ 3,465,997 Three Months Ended March 31, 2015 Wealth Management (In thousands) Banking Division Total Net interest income $ 18,570 $ 1,013 $ 19,583 Noninterest income 1,777 4,105 5,882 Total income 20,347 5,118 25,465 Provision for loan losses 1,350 — 1,350 Salaries and benefits 7,540 1,885 9,425 Premises and equipment expense 2,385 231 2,616 Other noninterest expense 2,495 1,232 3,727 Total noninterest expense 13,770 3,348 17,118 Income before income tax expense 6,577 1,770 8,347 Income tax expense 2,651 688 3,339 Net income $ 3,926 $ 1,082 $ 5,008 Total assets for period end $ 2,853,133 $ 26,324 $ 2,879,457

FAIR VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2016
FAIR VALUE [Abstract]
FAIR VALUE	7. FAIR VALUE Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a company's own assumptions about the assumptions that market participants would use in pricing as asset or liability. The Company used the following methods and significant assumptions to estimate the fair value: Investment Securities: 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 Corporation has elected the fair value option: Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable March 31, Assets Inputs Inputs (In thousands) 2016 (Level 1) (Level 2) (Level 3) Assets: Available for sale: U.S. government-sponsored entities $ 8,003 $ — $ 8,003 $ — Mortgage-backed securities- residential 166,987 — 166,987 — SBA pool securities 7,409 — 7,409 — State and political subdivisions 26,313 — 26,313 — Single-Issuer Trust Preferred 2,358 — 2,358 — CRA investment fund 2,980 2,980 — — Loans held for sale, at fair value 3,537 — 3,537 — Derivatives: Loan level swaps 2,185 — 2,185 — Total $ 219,772 $ 2,980 $ 216,792 $ — Liabilities: Derivatives: Cash flow hedges $ (5,151 ) $ — $ (5,151 ) $ — Loan level swaps (2,185 ) — (2,185 ) — Total $ (7,336 ) $ — $ (7,336 ) $ — Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs (In thousands) 2015 (Level 1) (Level 2) (Level 3) Assets: 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 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 ) $ — The Corporation has elected the fair value option for certain loans held for sale. These loans are intended for sale and the Corporation 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 Corporation's policy on loans held for investment. None of these loans are 90 The following tables present residential loans held for sale, at fair value for the periods indicated: (In thousands) March 31, 2016 December 31, 2015 Residential loans contractual balance $ 3,483 $ 1,536 Fair value adjustment 54 22 Total fair value of residential loans held for sale $ 3,537 $ 1,558 There were no transfers between Level 1 and Level 2 during the three months ended March 31, 2016. The following table summarizes, for the periods indicated, assets measured at fair value on a non-recurring basis: Assets Measured on a Non-Recurring Basis Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant observable Identical Observable Unobservable March 31, Assets Inputs Inputs (In thousands) 2016 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Primary residential mortgage $ 285 $ — $ — $ 285 OREO 330 — — 330 December 31, (In thousands) 2015 Assets: Impaired loans: Primary residential mortgage $ 251 $ — $ — $ 251 OREO 330 — — 330 Impaired loans that are measured for impairment using the fair value of the collateral for collateral dependent loans had a recorded investment of $ 346 61 299 48 At both March 31, 2016 and December 31, 2015, OREO at fair value represents one commercial property. The Company did not record a valuation allowance during either of the three months ended March 31, 2016 and March 31, 2015. The carrying amounts and estimated fair values of financial instruments at March 31, 2016 are as follows: Fair Value Measurements at March 31, 2016 using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 77,919 $ 77,919 $ — $ — $ 77,919 Securities available for sale 214,050 2,980 211,070 — 214,050 FHLB and FRB stock 13,254 — — — N/A Loans held for sale, at fair value 3,537 — 3,537 — 3,537 Loans held for sale, at lower of cost or fair value 38,066 — 38,066 — 38,066 Loans, net of allowance for loan losses 3,000,380 — — 3,001,458 3,001,458 Accrued interest receivable 7,497 — 636 6,861 7,497 Loan level swap derivatives 2,185 — 2,185 — 2,185 Financial liabilities Deposits $ 3,043,578 $ 2,503,115 $ 545,024 $ — $ 3,048,139 Overnight borrowings 21,100 — 21,100 — 21,100 Federal home loan bank advances 83,692 — 84,862 — 84,862 Accrued interest payable 1,019 128 891 — 1,019 Cash flow hedge derivatives 5,151 — 5,151 — 5,151 Loan level swap derivatives 2,185 — 2,185 — 2,185 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 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: Overnight borrowings: Federal Home Loan Bank advances: Accrued interest receivable/payable: Off-balance sheet instruments:

OTHER OPERATING EXPENSES

OTHER OPERATING EXPENSES	3 Months Ended
	Mar. 31, 2016
OTHER OPERATING EXPENSES [Abstract]
OTHER OPERATING EXPENSES	8. OTHER OPERATING EXPENSES The following table presents the major components of other operating expenses for the periods indicated: Three Months Ended March 31, (In thousands) 2016 2015 FDIC assessment $ 1,559 $ 482 Wealth management division other expense 622 621 Professional and legal fees 986 768 Other operating expenses 2,267 1,856 Total other operating expenses $ 5,434 $ 3,727

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME	3 Months Ended
	Mar. 31, 2016
ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME	9. ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME The following is a summary of the accumulated other comprehensive (loss)/income balances, net of tax, for the three months ended March 31, 2016 and 2015: Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Three Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive March 31, March 31, (In thousands) 2016 Reclassifications (Income) 2016 2016 Net unrealized holding gain on securities available for sale, net of tax $ 408 $ 688 $ (63 ) $ 625 $ 1,033 Losses on cash flow hedges (787 ) (2,260 ) — (2,260 ) (3,047 ) Accumulated other comprehensive income/(loss), net of tax $ (379 ) $ (1,572 ) $ (63 ) $ (1,635 ) $ (2,014 ) Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Three Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive March 31, March 31, (In thousands) 2015 Reclassifications (Income) 2015 2015 Net unrealized holding gain on securities available for sale, net of tax $ 1,321 $ 779 $ (174 ) $ 605 $ 1,926 Losses on cash flow hedges (100 ) (587 ) — (587 ) (687 ) Accumulated other comprehensive income, net of tax $ 1,221 $ 192 $ (174 ) $ 18 $ 1,239 The following represents the reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2016 and 2015: Three Months Ended March 31, (In thousands) 2016 2015 Affected Line Item in Income Unrealized gains on securities available for sale: Realized net gain on securities sales $ 101 $ 268 Securities gains, net Income tax expense (38 ) (94 ) Income tax expense Total reclassifications, net of tax $ 63 $ 174

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2016
DERIVATIVES [Abstract]
DERIVATIVES	10. DERIVATIVES The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements. Interest Rate Swaps Designated as Cash Flow Hedges: 180 The following information about the interest rate swaps designated as cash flow hedges as of March 31, 2016 and December 31, 2015 is presented in the following table: (Dollars in thousands) March 31, 2016 December 31, 2015 Notional amount $ 180,000 $ 180,000 Weighted average pay rate 1.64 % 1.64 % Weighted average receive rate 0.51 % 0.29 % Weighted average maturity 4.00 years 4.25 years Unrealized loss $ (5,151 ) $ (1,331 ) Number of contracts 9 9 Net interest expense recorded on these swap transactions totaled $ 504 95 Cash Flow Hedges The following table presents the net losses recorded in accumulated other comprehensive (loss)/income and the consolidated financial statements relating to the cash flow derivative instruments for the three months ended March 31, 2016 (after tax): Amount of Amount of Amount of Gain/(Loss) Gain/(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 $ (2,260 ) $ — $ — The following table presents the net losses recorded in accumulated other comprehensive (loss)/income and the consolidated financial statements relating to the cash flow derivative instruments for the three months ended March 31, 2015: Amount of Amount of Amount of Gain/(Loss) Gain/(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 $ (587 ) $ — $ — The following tables reflect the cash flow hedges included in the financial statements as of March 31, 2016 and December 31, 2015: March 31, 2016 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing demand brokered deposits $ 180,000 $ (5,151 ) Total included in other assets $ — $ — Total included in other liabilities $ 180,000 $ (5,151 ) 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 ) Derivatives Not Designated as Accounting Hedges: Information about these swaps is as follows: (Dollars in thousands) March 31, 2016 December 31, 2015 Notional amount $ 34,696 $ 27,259 Fair value $ 2,185 $ 1,106 Weighted average pay rates 3.25 % 3.06 % Weighted average receive rates 1.84 % 1.44 % Weighted average maturity 14.4 years 15.8 years

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2016
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	11. RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (is) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. In July 2015, FASB deferred the effective date of the ASU by one year which means ASU 2014-09 will be effective for the Company on January 1, 2018. In March 2016, FASB issued ASU 2016-08 which amended illustrative examples to clarify how to apply the implementation guidance on principal versus agent considerations. The Company is currently evaluating the potential impact of ASU 2014-09, and subsequent amendments, on its consolidated financial statements. In January 2016, the FASB amended existing guidance to improve accounting standards for financial instruments including clarification and simplification of accounting and disclosure requirements and the requirement for public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes. These amendments are effective for public business entities for annual periods and interim periods within those annual periods beginning after December 15, 2017. The Company is evaluating the impact of these amendments on its consolidated financial statements. In February 2016, the FASB amended existing guidance to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. These amendments are effective for public business entities for annual periods and interim periods within those annual periods beginning after December 15, 2018. The Company is evaluating the impact of these amendments on its consolidated financial statements. In March 2016, the FASB amended existing guidance to simplify aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. These amendments are effective for public business entities for annual periods and interim periods within those annual periods beginning after December 15, 2016. The Company is evaluating the impact of these amendments on its consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Principles of Consolidation and Organization	Principles of Consolidation and Organization:
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, PGB Trust & Investments of Delaware. Income is recognized as earned.
Cash and Cash Equivalents	Cash and Cash Equivalents:
Interest-Earning Deposits in Other Financial Institutions	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 Bank (FHLB) and Federal Reserve Bank (FRB) 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 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 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 Consumer and Other
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.
Stock-Based Compensation	Stock-Based Compensation: ten five For the three months ended March 31, 2016 and 2015, the Company recorded total compensation cost for stock options of $ 20 65 2 6 166 0.62 For the Company's stock option plans, changes in options outstanding during the three months ended March 31, 2016 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In thousands) Balance, January 1, 2016 267,289 $ 17.28 Granted during 2016 — — Exercised during 2016 (4,615 ) 13.39 Expired during 2016 (12,529 ) 22.07 Forfeited during 2016 (340 ) 15.18 Balance, March 31, 2016 249,805 17.12 4.22 — Vested and expected to vest (1) 246,030 17.20 4.22 — Exercisable at March 31, 2016 235,823 17.30 4.08 31 (1) Does not include shares which are not expected to vest as a result of anticipated forfeitures. The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company's closing stock price on the last trading day of the first quarter of 2016 and the exercise price, multiplied by the number of in-the-money options). The Company's closing stock price on March 31, 2016 was $ 16.90 There were no stock options granted in the three months ended March 31, 2016. The Company has previously granted performance based and service based restricted stock awards. In the first quarter of 2016, the Company granted 185,609 one three five The performance based awards that were granted in previous periods, are dependent upon the Company meeting certain performance criteria and cliff vest at the end of the performance period. During the fourth quarter of 2015, the Company concluded that the performance targets would not be met and therefore, reversed approximately $ 592 1.7 Changes in nonvested shares dependent on performance criteria for the three months ended March 31, 2016 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2016 92,767 $ 18.12 Granted during 2016 — — Vested during 2016 — — Forfeited during 2016 — — Balance, March 31, 2016 92,767 $ 18.12 Changes in service based restricted stock awards/units for the three months ended March 31, 2016 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2016 321,421 $ 19.44 Granted during 2016 185,609 16.96 Vested during 2016 (91,785 ) 18.24 Forfeited during 2016 (823 ) 20.66 Balance, March 31, 2016 414,422 $ 18.59 As of March 31, 2016, there was $ 7.7 2.54 589 476
Employee Stock Purchase Plan	Employee Stock Purchase Plan (“ESPP”): 150,000 one 15 85 The Company recorded $ 35 27 2015 9,544 7,888
Earnings per share - Basic and Diluted	Earnings per share – Basic and Diluted: Three Months Ended March 31, (Dollars in thousands, except per share data) 2016 2015 Net income to shareholders $ 5,489 $ 5,008 Basic weighted-average shares outstanding 15,858,278 14,909,722 Plus: common stock equivalents 158,694 160,630 Diluted weighted-average shares outstanding 16,016,972 15,070,352 Net income per share Basic $ 0.35 $ 0.34 Diluted 0.34 0.33 Stock options totaling 225,278 163,297
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 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.
Loss Contingencies	Loss Contingencies:
Restrictions on cash	Restrictions on Cash:
Comprehensive Income	Comprehensive Income:
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

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [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, 2016 267,289 $ 17.28 Granted during 2016 — — Exercised during 2016 (4,615 ) 13.39 Expired during 2016 (12,529 ) 22.07 Forfeited during 2016 (340 ) 15.18 Balance, March 31, 2016 249,805 17.12 4.22 — Vested and expected to vest (1) 246,030 17.20 4.22 — Exercisable at March 31, 2016 235,823 17.30 4.08 31 (1) Does not include shares which are not expected to vest as a result of anticipated forfeitures.
Schedule of changes in nonvested performance-based shares	Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2016 92,767 $ 18.12 Granted during 2016 — — Vested during 2016 — — Forfeited during 2016 — — Balance, March 31, 2016 92,767 $ 18.12
Schedule of changes in nonvested shares	Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2016 321,421 $ 19.44 Granted during 2016 185,609 16.96 Vested during 2016 (91,785 ) 18.24 Forfeited during 2016 (823 ) 20.66 Balance, March 31, 2016 414,422 $ 18.59
Schedule of calculation of basic and diluted earnings per share	Three Months Ended March 31, (Dollars in thousands, except per share data) 2016 2015 Net income to shareholders $ 5,489 $ 5,008 Basic weighted-average shares outstanding 15,858,278 14,909,722 Plus: common stock equivalents 158,694 160,630 Diluted weighted-average shares outstanding 16,016,972 15,070,352 Net income per share Basic $ 0.35 $ 0.34 Diluted 0.34 0.33

INVESTMENT SECURITIES AVAILAB22

INVESTMENT SECURITIES AVAILABLE FOR SALE (Tables)	3 Months Ended
	Mar. 31, 2016
INVESTMENT SECURITIES AVAILABLE FOR SALE [Abstract]
Schedule of Amortized Cost and Approximate Fair Value of Securities Available for Sale	March 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored entities $ 7,986 $ 17 $ — $ 8,003 Mortgage-backed securities – residential 164,981 2,087 (81 ) 166,987 SBA pool securities 7,504 — (95 ) 7,409 State and political subdivisions 25,904 424 (15 ) 26,313 Single-issuer trust preferred security 2,999 — (641 ) 2,358 CRA investment 3,000 — (20 ) 2,980 Total $ 212,374 $ 2,528 $ (852 ) $ 214,050 December 31, 2015 Gross Gross Amortized Unrealized Unrealized 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 3,000 — (61 ) 2,939 Total $ 194,959 $ 1,710 $ (1,039 ) $ 195,630
Schedule of Continuous Unrealized Losses and the Approximate Fair Value of these Investments	March 31, 2016 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses Mortgage-backed securities-residential $ 10,956 $ (38 ) $ 7,211 $ (43 ) $ 18,167 $ (81 ) SBA pool securities — — 7,409 (95 ) 7,409 (95 ) State and political subdivisions 2,890 (15 ) — — 2,890 (15 ) Single-issuer trust preferred security — — 2,358 (641 ) 2,358 (641 ) CRA investment fund — — 2,980 (20 ) 2,980 (20 ) Total $ 13,846 $ (53 ) $ 19,958 $ (799 ) $ 33,804 $ (852 ) December 31, 2015 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses 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 )

LOANS (Tables)

LOANS (Tables)	3 Months Ended
	Mar. 31, 2016
LOANS [Abstract]
Schedule of composition of loans categorized by the type of loan	% of % of March 31, Totals December 31, Total (In thousands) 2016 Loans 2015 Loans Residential mortgage $ 469,084 15.49 $ 470,869 16.16 Multifamily mortgage 1,489,708 49.20 1,416,775 48.63 Commercial mortgage 414,677 13.70 413,118 14.18 Commercial loans 554,871 18.33 512,886 17.60 Construction loans 1,392 0.05 1,401 0.05 Home equity lines of credit 53,328 1.76 52,649 1.81 Consumer loans, including fixed rate home equity loans 44,198 1.46 45,044 1.55 Other loans 443 0.01 500 0.02 Total loans $ 3,027,701 100.00 $ 2,913,242 100.00 % of % of March 31, Totals December 31, Total (In thousands) 2016 Loans 2015 Loans Primary residential mortgage $ 499,734 16.52 $ 483,085 16.59 Home equity lines of credit 53,481 1.77 52,804 1.81 Junior lien loan on residence 10,686 0.35 11,503 0.39 Multifamily property 1,489,708 49.22 1,416,775 48.66 Owner-occupied commercial real estate 163,495 5.40 176,276 6.05 Investment commercial real estate 587,213 19.41 568,849 19.54 Commercial and industrial 173,299 5.73 154,295 5.30 Secured by farmland/agricultural production 177 0.01 179 0.01 Commercial construction loans 150 0.01 151 0.01 Consumer and other loans 47,894 1.58 47,635 1.64 Total loans $ 3,025,837 100.00 $ 2,911,552 100.00 Net deferred costs 1,864 1,690 Total loans including net deferred costs $ 3,027,701 $ 2,913,242
Schedule of loan balances by portfolio segment, based on impairment method, and the corresponding balances in the allowance for loan losses	The activity in the allowance for loan losses for the three months ended March 31, 2016 is summarized below: July 1, March 31, 2016 Provision 2016 Beginning (Credit) Ending (In thousands) ALLL Charge-offs Recoveries ALLL Primary residential mortgage $ 2,297 $ (13 ) $ 14 $ 205 $ 2,503 Home equity lines of credit 86 — 2 45 133 Junior lien loan on residence 66 — 17 (70 ) 13 Multifamily property 11,813 — — (182 ) 11,631 Owner-occupied commercial real estate 1,679 — — 4 1,683 Investment commercial real estate 7,590 (258 ) 2 1,193 8,527 Commercial and industrial 2,209 (3 ) 4 481 2,691 Secured by farmland and agricultural production 2 — — — 2 Commercial construction 2 — — — 2 Consumer and other loans 112 (1 ) 1 24 136 Total ALLL $ 25,856 $ (275 ) $ 40 $ 1,700 $ 27,321 The activity in the allowance for loan losses for the three months ended September 30, 2014 is summarized below: January 1, March 31, 2015 Provision 2015 Beginning (Credit) Ending (In thousands) ALLL Charge-offs Recoveries ALLL Primary residential mortgage $ 2,923 $ (43 ) $ 66 $ (632 ) $ 2,314 Home equity lines of credit 156 (100 ) — 41 97 Junior lien loan on residence 109 — 28 (66 ) 71 Multifamily property 8,983 — — (245 ) 8,738 Owner-occupied commercial real estate 1,547 — 11 789 2,347 Investment commercial real estate 4,751 — 6 1,378 6,135 Commercial and industrial 880 — 25 106 1,011 Secured by farmland and agricultural production 4 — — (1 ) 3 Commercial construction 31 — — (8 ) 23 Consumer and other loans 96 (17 ) 10 (12 ) 77 Total ALLL $ 19,480 $ (160 ) $ 146 $ 1,350 $ 20,816 March 31, 2016 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 ALL Primary residential mortgage $ 10,165 $ 297 $ 489,569 $ 2,206 $ 499,734 $ 2,503 Home equity lines of credit 153 — 53,328 133 53,481 133 Junior lien loan on residence 171 — 10,515 13 10,686 13 Multifamily property — — 1,489,708 11,631 1,489,708 11,631 Owner-occupied commercial real estate 1,264 — 162,231 1,683 163,495 1,683 Investment commercial real estate 11,446 58 575,767 8,469 587,213 8,527 Commercial and industrial 136 136 173,163 2,555 173,299 2,691 Secured by farmland and agricultural production — — 177 2 177 2 Commercial construction — — 150 2 150 2 Consumer and Other — — 47,894 136 47,894 136 Total ALLL $ 23,335 $ 491 $ 3,002,502 $ 26,830 $ 3,025,837 $ 27,321 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 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
Schedule of loans individually evaluated for impairment	March 31, 2016 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 9,766 $ 8,160 $ — $ 7,217 Owner-occupied commercial real estate 1,460 1,264 — 1,270 Investment commercial real estate 10,812 10,205 — 10,224 Home equity lines of credit 354 153 — 186 Junior lien loan on residence 622 171 — 320 Total loans with no related allowance $ 23,014 $ 19,953 $ — $ 19,217 With related allowance recorded: Primary residential mortgage $ 2,040 $ 2,005 $ 297 $ 1,671 Investment commercial real estate 1,241 1,241 58 1,246 Commercial and industrial 179 136 136 148 Total loans with related allowance $ 3,460 $ 3,382 $ 491 $ 3,065 Total loans individually evaluated for impairment $ 26,474 $ 23,335 $ 491 $ 22,282 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
Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual	March 31, 2016 Loans Past Due Over 90 Days And Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 5,226 $ — Home equity lines of credit 129 — Junior lien loan on residence 114 — Owner-occupied commercial real estate 1,265 — Investment commercial real estate 408 — Commercial and industrial 136 — Total $ 7,278 $ — 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 $ —
Schedule of aging of past due loans	March 31, 2016 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 1,240 $ — $ — $ 1,240 Home equity lines of credit — 145 — 145 Consumer and other — 8 — 8 Total $ 1,240 $ 153 $ — $ 1,393 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
Schedule of the risk category of loans by class of loans	Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 488,749 $ 679 $ 10,306 $ — Home equity lines of credit 53,328 — 153 — Junior lien loan on residence 10,515 — 171 — Multifamily property 1,480,843 7,677 1,188 — Owner-occupied commercial real estate 157,713 917 4,865 — Investment commercial real estate 549,068 6,147 31,998 — Commercial and industrial 168,128 5,035 136 — Farmland 177 — — — Commercial construction — 150 — — Consumer and other loans 47,894 — — — Total $ 2,956,415 $ 20,605 $ 48,817 $ — As of December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: 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 — Farmland 179 — — — Agricultural production — — — — Commercial construction — 151 — — Consumer and other loans 47,635 — — — Total $ 2,847,245 $ 21,530 $ 42,777 $ —
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 2 $ 1,133 $ 1,133 Total 2 $ 1,133 $ 1,133

DEPOSITS (Tables)

DEPOSITS (Tables)	3 Months Ended
	Mar. 31, 2016
DEPOSITS [Abstract]
Schedule of deposit liabilities	March 31, December 31, 2016 2015 (In thousands) $ % $ % Noninterest-bearing demand deposits $ 457,730 15.04 % $ 419,887 14.30 % Interest-bearing checking 905,479 29.75 861,697 29.36 Savings 119,149 3.91 115,007 3.92 Money market 820,757 26.97 810,709 27.62 Certificates of deposit 446,833 14.68 434,450 14.80 Subtotal deposits 2,749,948 90.35 2,641,750 90.00 Interest-bearing demand - Brokered 200,000 6.57 200,000 6.81 Certificates of deposit - Brokered 93,630 3.08 93,720 3.19 Total deposits $ 3,043,578 100.00 % $ 2,935,470 100.00 %
Schedule of maturities of time deposits	(In thousands) 2016 $ 77,568 2017 102,202 2018 181,386 2019 65,310 2020 34,426 Over 5 Years 79,571 Total $ 540,463

FEDERAL HOME LOAN BANK ADVANC25

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Tables)	3 Months Ended
	Mar. 31, 2016
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

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
BUSINESS SEGMENTS [Abstract]
Schedule of income and total assets for reportable segments	Three Months Ended March 31, 2016 Wealth Management (In thousands) Banking Division Total Net interest income $ 21,990 $ 1,420 $ 23,410 Noninterest income 1,880 4,383 6,263 Total income 23,870 5,803 29,673 Provision for loan losses 1,700 — 1,700 Salaries and benefits 8,813 2,095 10,908 Premises and equipment expense 2,637 227 2,864 Other noninterest expense 3,917 1,517 5,434 Total noninterest expense 17,067 3,839 20,906 Income before income tax expense 6,803 1,964 8,767 Income tax expense 2,514 764 3,278 Net income $ 4,289 $ 1,200 $ 5,489 Total assets for period end $ 3,415,432 $ 53,252 $ 3,465,997 Three Months Ended March 31, 2015 Wealth Management (In thousands) Banking Division Total Net interest income $ 18,570 $ 1,013 $ 19,583 Noninterest income 1,777 4,105 5,882 Total income 20,347 5,118 25,465 Provision for loan losses 1,350 — 1,350 Salaries and benefits 7,540 1,885 9,425 Premises and equipment expense 2,385 231 2,616 Other noninterest expense 2,495 1,232 3,727 Total noninterest expense 13,770 3,348 17,118 Income before income tax expense 6,577 1,770 8,347 Income tax expense 2,651 688 3,339 Net income $ 3,926 $ 1,082 $ 5,008 Total assets for period end $ 2,853,133 $ 26,324 $ 2,879,457

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2016
FAIR VALUE [Abstract]
Schedule of assets measured at fair value on a recurring basis	Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable March 31, Assets Inputs Inputs (In thousands) 2016 (Level 1) (Level 2) (Level 3) Assets: Available for sale: U.S. government-sponsored entities $ 8,003 $ — $ 8,003 $ — Mortgage-backed securities- residential 166,987 — 166,987 — SBA pool securities 7,409 — 7,409 — State and political subdivisions 26,313 — 26,313 — Single-Issuer Trust Preferred 2,358 — 2,358 — CRA investment fund 2,980 2,980 — — Loans held for sale, at fair value 3,537 — 3,537 — Derivatives: Loan level swaps 2,185 — 2,185 — Total $ 219,772 $ 2,980 $ 216,792 $ — Liabilities: Derivatives: Cash flow hedges $ (5,151 ) $ — $ (5,151 ) $ — Loan level swaps (2,185 ) — (2,185 ) — Total $ (7,336 ) $ — $ (7,336 ) $ — Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs (In thousands) 2015 (Level 1) (Level 2) (Level 3) Assets: 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 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 ) $ —
Schedule of residential loans held for sale	(In thousands) March 31, 2016 December 31, 2015 Residential loans contractual balance $ 3,483 $ 1,536 Fair value adjustment 54 22 Total fair value of residential loans held for sale $ 3,537 $ 1,558
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 observable Identical Observable Unobservable March 31, Assets Inputs Inputs (In thousands) 2016 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Primary residential mortgage $ 285 $ — $ — $ 285 OREO 330 — — 330 December 31, (In thousands) 2015 Assets: Impaired loans: Primary residential mortgage $ 251 $ — $ — $ 251 OREO 330 — — 330
Schedule of carrying amounts and estimated fair values of financial instruments	The carrying amounts and estimated fair values of financial instruments at March 31, 2016 are as follows: Fair Value Measurements at March 31, 2016 using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 77,919 $ 77,919 $ — $ — $ 77,919 Securities available for sale 214,050 2,980 211,070 — 214,050 FHLB and FRB stock 13,254 — — — N/A Loans held for sale, at fair value 3,537 — 3,537 — 3,537 Loans held for sale, at lower of cost or fair value 38,066 — 38,066 — 38,066 Loans, net of allowance for loan losses 3,000,380 — — 3,001,458 3,001,458 Accrued interest receivable 7,497 — 636 6,861 7,497 Loan level swap derivatives 2,185 — 2,185 — 2,185 Financial liabilities Deposits $ 3,043,578 $ 2,503,115 $ 545,024 $ — $ 3,048,139 Overnight borrowings 21,100 — 21,100 — 21,100 Federal home loan bank advances 83,692 — 84,862 — 84,862 Accrued interest payable 1,019 128 891 — 1,019 Cash flow hedge derivatives 5,151 — 5,151 — 5,151 Loan level swap derivatives 2,185 — 2,185 — 2,185 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

OTHER OPERATING EXPENSES (Table

OTHER OPERATING EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2016
OTHER OPERATING EXPENSES [Abstract]
Schedule of components of other operating expenses	Three Months Ended March 31, (In thousands) 2016 2015 FDIC assessment $ 1,559 $ 482 Wealth management division other expense 622 621 Professional and legal fees 986 768 Other operating expenses 2,267 1,856 Total other operating expenses $ 5,434 $ 3,727

ACCUMULATED OTHER COMPREHENSI29

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME (Tables)	3 Months Ended
	Mar. 31, 2016
ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME [Abstract]
Schedule of accumulated other comprehensive income balances, net of tax	Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Three Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive March 31, March 31, (In thousands) 2016 Reclassifications (Income) 2016 2016 Net unrealized holding gain on securities available for sale, net of tax $ 408 $ 688 $ (63 ) $ 625 $ 1,033 Losses on cash flow hedges (787 ) (2,260 ) — (2,260 ) (3,047 ) Accumulated other comprehensive income/(loss), net of tax $ (379 ) $ (1,572 ) $ (63 ) $ (1,635 ) $ (2,014 ) Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Three Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive March 31, March 31, (In thousands) 2015 Reclassifications (Income) 2015 2015 Net unrealized holding gain on securities available for sale, net of tax $ 1,321 $ 779 $ (174 ) $ 605 $ 1,926 Losses on cash flow hedges (100 ) (587 ) — (587 ) (687 ) Accumulated other comprehensive income, net of tax $ 1,221 $ 192 $ (174 ) $ 18 $ 1,239
Schedule of the reclassifications out of accumulated other comprehensive income	Three Months Ended March 31, (In thousands) 2016 2015 Affected Line Item in Income Unrealized gains on securities available for sale: Realized net gain on securities sales $ 101 $ 268 Securities gains, net Income tax expense (38 ) (94 ) Income tax expense Total reclassifications, net of tax $ 63 $ 174

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2016
DERIVATIVES [Abstract]
Schedule of Information about Derivatives	(Dollars in thousands) March 31, 2016 December 31, 2015 Notional amount $ 180,000 $ 180,000 Weighted average pay rate 1.64 % 1.64 % Weighted average receive rate 0.51 % 0.29 % Weighted average maturity 4.00 years 4.25 years Unrealized loss $ (5,151 ) $ (1,331 ) Number of contracts 9 9 (Dollars in thousands) March 31, 2016 December 31, 2015 Notional amount $ 34,696 $ 27,259 Fair value $ 2,185 $ 1,106 Weighted average pay rates 3.25 % 3.06 % Weighted average receive rates 1.84 % 1.44 % Weighted average maturity 14.4 years 15.8 years
Schedule of Net Gains/(Losses)	Amount of Amount of Amount of Gain/(Loss) Gain/(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 $ (2,260 ) $ — $ — Amount of Amount of Amount of Gain/(Loss) Gain/(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 $ (587 ) $ — $ —
Schedule of Notional Amount and Fair Value	March 31, 2016 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing demand brokered deposits $ 180,000 $ (5,151 ) Total included in other assets $ — $ — Total included in other liabilities $ 180,000 $ (5,151 ) 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 )

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative - Other) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares	Mar. 31, 2015USD ($)shares
Threshold for determining nonaccrual status	90 days
Antidilutive securities	225,278	163,297
Cash dividends declared on common stock, per share | $ / shares	$ 0.05
Finite-Lived Intangible Asset, 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 | $	$ 35	$ 27
Issuance of shares for Employee Stock Purchase Plan, shares	9,544	7,888
Employee Stock [Member] | Minimum [Member]
Percentage of compensation contributable	1.00%
Employee Stock [Member] | Maximum [Member]
Percentage of compensation contributable	15.00%

SUMMARY OF SIGNIFICANT ACCOUN32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Stock-Based Compensation Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Closing stock price of common stock	$ 16.90
Employee Stock Option [Member]
Option term	10 years
Vesting term	5 years
Unrecognized compensation cost	$ 166
Weighted average period, unrecognized compensation expected to be recognized (in years)	7 months 13 days
Total compensation cost	$ 20		$ 65
Recognized tax benefit	2		6
Restricted stock [Member]
Unrecognized compensation cost	$ 7,700
Weighted average period, unrecognized compensation expected to be recognized (in years)	2 years 6 months 14 days
Total compensation cost	$ 589		$ 476
Restricted stock [Member] | Share-based Compensation Award, Tranche One [Member]
Vesting term	1 year
Restricted stock [Member] | Share-based Compensation Award, Tranche Two [Member]
Vesting term	3 years
Restricted stock [Member] | Share-based Compensation Award, Tranche Three [Member]
Vesting term	5 years
Performance Shares [Member]
Unrecognized compensation cost	$ 1,700
Total compensation cost		$ (592)

SUMMARY OF SIGNIFICANT ACCOUN33

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Changes in Options Outstanding) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Number of Options
Balance | shares	267,289
Granted | shares
Exercised | shares	(4,615)
Expired | shares	(12,529)
Forfeited | shares	(340)
Balance | shares	249,805
Vested and expected to vest | shares	246,030
Exercisable | shares	235,823
Weighted Average Exercise Price
Balance | $ / shares	$ 17.28
Granted | $ / shares
Exercised | $ / shares	$ 13.39
Expired | $ / shares	22.07
Forfeited | $ / shares	15.18
Balance | $ / shares	17.12
Vested and expected to vest | $ / shares	17.20
Exercisable | $ / shares	$ 17.30
Weighted Average Remaining Contractual Term
Balance	4 years 2 months 19 days
Vested and Expected to Vest	4 years 2 months 19 days
Exercisable	4 years 29 days
Aggregate Intrinsic Value
Balance | $
Vested and expected to vest | $
Exercisable | $	$ 31

SUMMARY OF SIGNIFICANT ACCOUN34

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Changes in Restricted Common Shares) (Details)	3 Months Ended
	Mar. 31, 2016$ / 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	321,421
Granted | shares	185,609
Vested | shares	(91,785)
Forfeited | shares	(823)
Balance at end | shares	414,422
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 19.44
Granted | $ / shares	16.96
Vested | $ / shares	18.24
Forfeited | $ / shares	20.66
Balance at end | $ / shares	$ 18.59

SUMMARY OF SIGNIFICANT ACCOUN35

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Earnings per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Net income available to common shareholders	$ 5,489	$ 5,008
Basic weighted average common shares outstanding (in shares)	15,858,278	14,909,722
Plus: common stock equivalents	158,694	160,630
Diluted weighted-average common shares outstanding	16,016,972	15,070,352
Net Income Per Common Share
Basic	$ 0.35	$ 0.34
Diluted	$ 0.34	$ 0.33

INVESTMENT SECURITIES AVAILAB36

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Amortized Cost and Approximate Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Amortized Cost	$ 212,374	$ 194,959
Gross Unrealized Gains	2,528	1,710
Gross Unrealized Losses	(852)	(1,039)
Fair Value	214,050	195,630
U.S. Government-Sponsored Entities [Member]
Amortized Cost	7,986
Gross Unrealized Gains	$ 17
Gross Unrealized Losses
Fair Value	$ 8,003
Mortgage-Backed Securities-Residential [Member]
Amortized Cost	164,981	159,747
Gross Unrealized Gains	2,087	1,293
Gross Unrealized Losses	(81)	(433)
Fair Value	166,987	160,607
SBA Pool Securities [Member]
Amortized Cost	$ 7,504	$ 7,601
Gross Unrealized Gains
Gross Unrealized Losses	$ (95)	$ (81)
Fair Value	7,409	7,520
State and Political Subdivisions [Member]
Amortized Cost	25,904	21,612
Gross Unrealized Gains	424	$ 417
Gross Unrealized Losses	(15)
Fair Value	26,313	$ 22,029
Single-Issuer Trust Preferred Security [Member]
Amortized Cost	$ 2,999	$ 2,999
Gross Unrealized Gains
Gross Unrealized Losses	$ (641)	$ (464)
Fair Value	2,358	2,535
CRA Investment Fund [Member]
Amortized Cost	$ 3,000	$ 3,000
Gross Unrealized Gains
Gross Unrealized Losses	$ (20)	$ (61)
Fair Value	$ 2,980	$ 2,939

INVESTMENT SECURITIES AVAILAB37

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Securities with Continuous Unrealized Losses) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Approximate Fair Value
Less Than 12 Months	$ 13,846	$ 89,717
12 Months or Longer	19,958	21,907
Total	33,804	111,624
Unrealized Losses
Less Than 12 Months	(53)	(345)
12 Months or Longer	(799)	(694)
Total	(852)	(1,039)
Mortgage-Backed Securities-Residential [Member]
Approximate Fair Value
Less Than 12 Months	10,956	89,717
12 Months or Longer	7,211	8,913
Total	18,167	98,630
Unrealized Losses
Less Than 12 Months	(38)	(345)
12 Months or Longer	(43)	(88)
Total	$ (81)	$ (433)
SBA Pool Securities [Member]
Approximate Fair Value
Less Than 12 Months
12 Months or Longer	$ 7,409	$ 7,520
Total	$ 7,409	$ 7,520
Unrealized Losses
Less Than 12 Months
12 Months or Longer	$ (95)	$ (81)
Total	(95)	$ (81)
State and Political Subdivisions [Member]
Approximate Fair Value
Less Than 12 Months	$ 2,890
12 Months or Longer
Total	$ 2,890
Unrealized Losses
Less Than 12 Months	$ (15)
12 Months or Longer
Total	$ (15)
Single-Issuer Trust Preferred Security [Member]
Approximate Fair Value
Less Than 12 Months
12 Months or Longer	$ 2,358	$ 2,535
Total	$ 2,358	$ 2,535
Unrealized Losses
Less Than 12 Months
12 Months or Longer	$ (641)	$ (464)
Total	$ (641)	$ (464)
CRA Investment Fund [Member]
Approximate Fair Value
Less Than 12 Months
12 Months or Longer	$ 2,980	$ 2,939
Total	$ 2,980	$ 2,939
Unrealized Losses
Less Than 12 Months
12 Months or Longer	$ (20)	$ (61)
Total	$ (20)	$ (61)

LOANS (Narrative) (Details)

LOANS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
LOANS [Abstract]
Impaired non-accrual loans	$ 7,278		$ 6,747
Impaired non-accrual loans performing troubled debt restructured	15,800		16,200
Allowance allocated to troubled debt restructured loans	491		160
Allowance allocated to non accrual loans	441		162
Impaired loans	23,335		3,304
Troubled debt restructurings specific reserves to customers	491		$ 441
Gain on loans held for sale at lower of cost or fair value	124
Proceeds from sales of loans held for sale at lower of cost or fair value	$ 57,436

LOANS (Schedule of Loans Outsta

LOANS (Schedule of Loans Outstanding, by Classification) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Total loans	$ 3,027,701	$ 2,913,242
Loans and Finance Receivables [Member]
Total loans (in percent)	100.00%	100.00%
Unallocated Financing Receivables [Member]
Total loans	$ 443	$ 500
Unallocated Financing Receivables [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	0.01%	0.02%
Residential Mortgage [Member] | Residential Portfolio Segment [Member]
Total loans	$ 469,084	$ 470,869
Residential Mortgage [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	15.49%	16.16%
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans	$ 1,489,708	$ 1,416,775
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	49.20%	48.63%
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 414,677	$ 413,118
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	13.70%	14.18%
Commercial Loans [Member] | Commercial Portfolio Segment [Member]
Total loans	$ 554,871	$ 512,886
Commercial Loans [Member] | Commercial Portfolio Segment [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	18.33%	17.60%
Construction Loans [Member]
Total loans	$ 1,392	$ 1,401
Construction Loans [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	0.05%	0.05%
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans	$ 53,328	$ 52,649
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	1.76%	1.81%
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other [Member]
Total loans	$ 44,198	$ 45,044
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other [Member] | Loans and Finance Receivables [Member]
Total loans (in percent)	1.46%	1.55%

LOANS (Schedule of Loan Balance

LOANS (Schedule of Loan Balances by Portfolio Class) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Total loans	$ 3,025,837	$ 2,911,552
Net deferred fees	1,864	1,690
Total loans including net deferred costs	$ 3,027,701	$ 2,913,242
Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	100.00%	100.00%
Agricultural Sector [Member]
Total loans	$ 177	$ 179
Agricultural Sector [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.01%	0.01%
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	$ 10,686	$ 11,503
Residential Portfolio Segment [Member] | Junior Lien [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.35%	0.39%
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Total loans	$ 173,299	$ 154,295
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	5.73%	5.30%
Consumer and Other [Member]
Total loans	$ 47,894	$ 47,635
Consumer and Other [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	1.58%	1.64%
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total loans	$ 499,734	$ 483,085
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	16.52%	16.59%
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans	$ 53,481	$ 52,804
Total loans including net deferred costs	$ 53,328	$ 52,649
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	1.77%	1.81%
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans	$ 1,489,708	$ 1,416,775
Total loans including net deferred costs	$ 1,489,708	$ 1,416,775
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	49.22%	48.66%
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 163,495	$ 176,276
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	5.40%	6.05%
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 587,213	$ 568,849
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	19.41%	19.54%
Construction Loans [Member]
Total loans including net deferred costs	$ 1,392	$ 1,401
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total loans	$ 150	$ 151
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.01%	0.01%

LOANS (Schedule of Balances by

LOANS (Schedule of Balances by Portfolio Class, Based on Impairment Method) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Total Loans Individually Evaluated for Impairment	$ 23,335	$ 23,107
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	491	490
Total Loans Collectively Evaluated for Impairment	3,002,502	2,888,445
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	26,830	25,366
Total Loans	3,025,837	2,911,552
Total Ending ALLL	$ 27,321	$ 25,856	$ 20,816	$ 19,480
Agricultural Sector [Member]
Total Loans Individually Evaluated for Impairment
Ending ALLL Attributable to Loans Individually Evaluated for Impairment
Total Loans Collectively Evaluated for Impairment	$ 177	$ 179
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2	2
Total Loans	177	179
Total Ending ALLL	2	2	3	4
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans Individually Evaluated for Impairment	$ 171	$ 176
Ending ALLL Attributable to Loans Individually Evaluated for Impairment
Total Loans Collectively Evaluated for Impairment	$ 10,515	$ 11,327
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	13	66
Total Loans	10,686	11,503
Total Ending ALLL	13	66	71	109
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Total Loans Individually Evaluated for Impairment	136	171
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	136	138
Total Loans Collectively Evaluated for Impairment	173,163	154,124
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2,555	2,071
Total Loans	173,299	154,295
Total Ending ALLL	$ 2,691	$ 2,209	1,011	880
Consumer and Other [Member]
Total Loans Individually Evaluated for Impairment
Ending ALLL Attributable to Loans Individually Evaluated for Impairment
Total Loans Collectively Evaluated for Impairment	$ 47,894	$ 47,635
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	136	112
Total Loans	47,894	47,635
Total Ending ALLL	136	112	77	96
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	10,165	9,752
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	297	291
Total Loans Collectively Evaluated for Impairment	489,569	473,333
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2,206	2,006
Total Loans	499,734	483,085
Total Ending ALLL	2,503	2,297	2,314	2,923
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	$ 153	$ 254
Ending ALLL Attributable to Loans Individually Evaluated for Impairment
Total Loans Collectively Evaluated for Impairment	$ 53,328	$ 52,550
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	133	86
Total Loans	53,481	52,804
Total Ending ALLL	$ 133	$ 86	97	156
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	$ 1,489,708	$ 1,416,775
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	11,631	11,813
Total Loans	1,489,708	1,416,775
Total Ending ALLL	11,631	11,813	8,738	8,983
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	$ 1,264	$ 1,272
Ending ALLL Attributable to Loans Individually Evaluated for Impairment
Total Loans Collectively Evaluated for Impairment	$ 162,231	$ 175,004
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	1,683	1,679
Total Loans	163,495	176,276
Total Ending ALLL	1,683	1,679	2,347	1,547
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	11,446	11,482
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	58	61
Total Loans Collectively Evaluated for Impairment	575,767	557,367
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	8,469	7,529
Total Loans	587,213	568,849
Total Ending ALLL	$ 8,527	$ 7,590	6,135	4,751
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	$ 150	$ 151
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2	2
Total Loans	150	151
Total Ending ALLL	$ 2	$ 2	$ 23	$ 31

LOANS (Schedule of Schedule of

LOANS (Schedule of Schedule of Loans Individually Evaluated for Impairment) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Unpaid Principal Balance
With no related allowance recorded	$ 23,014	$ 22,097
With related allowance recorded	3,460	19,750
Total loans individually evaluated impairment	26,474	17,900
Recorded Investment
With no related allowance recorded	19,953	3,518
With related allowance recorded	3,382	3,357
Total loans individually evaluated impairment	23,335	3,304
Specific Reserves	491	490
Average Impaired Loans
With no related allowance recorded	19,217	25,615
With related allowance recorded	3,065	23,107
Total loans individually evaluated impairment	22,282	21,204
Residential Portfolio Segment [Member] | Junior Lien [Member]
Unpaid Principal Balance
With no related allowance recorded	622	219
Recorded Investment
With no related allowance recorded	171	176
Average Impaired Loans
With no related allowance recorded	320	166
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Unpaid Principal Balance
With no related allowance recorded		63
With related allowance recorded	179	179
Recorded Investment
With no related allowance recorded		33
With related allowance recorded	136	138
Specific Reserves	136	138
Average Impaired Loans
With no related allowance recorded		112
With related allowance recorded	148	$ 144
Consumer and Other [Member]
Unpaid Principal Balance
With no related allowance recorded
Recorded Investment
With no related allowance recorded
Average Impaired Loans
With no related allowance recorded		$ 1
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	9,766	8,998
With related allowance recorded	2,040	2,090
Recorded Investment
With no related allowance recorded	8,160	7,782
With related allowance recorded	2,005	1,970
Specific Reserves	297	291
Average Impaired Loans
With no related allowance recorded	7,217	5,683
With related allowance recorded	1,671	1,894
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	354	258
Recorded Investment
With no related allowance recorded	153	254
Average Impaired Loans
With no related allowance recorded	186	229
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	1,460	1,460
Recorded Investment
With no related allowance recorded	1,264	1,272
Average Impaired Loans
With no related allowance recorded	1,270	1,379
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	10,812	11,099
With related allowance recorded	1,241	1,249
Recorded Investment
With no related allowance recorded	10,205	10,233
With related allowance recorded	1,241	1,249
Specific Reserves	58	61
Average Impaired Loans
With no related allowance recorded	10,224	10,330
With related allowance recorded	$ 1,246	$ 1,266

LOANS (Schedule of Investment i

LOANS (Schedule of Investment in Nonaccrual and Loans Past Due Over 90 Days) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Impaired non-accrual loans	$ 7,278	$ 6,747
Loans Past Due Over 90 Days And Still Accruing Interest
Residential Portfolio Segment [Member] | Junior Lien [Member]
Impaired non-accrual loans	$ 114	$ 118
Loans Past Due Over 90 Days And Still Accruing Interest
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Impaired non-accrual loans	$ 136	$ 171
Loans Past Due Over 90 Days And Still Accruing Interest
Consumer and Other [Member]
Impaired non-accrual loans
Loans Past Due Over 90 Days And Still Accruing Interest
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Impaired non-accrual loans	$ 5,226	$ 4,549
Loans Past Due Over 90 Days And Still Accruing Interest
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Impaired non-accrual loans	$ 129	$ 229
Loans Past Due Over 90 Days And Still Accruing Interest
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Impaired non-accrual loans	$ 1,265	$ 1,272
Loans Past Due Over 90 Days And Still Accruing Interest
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Impaired non-accrual loans	$ 408	$ 408
Loans Past Due Over 90 Days And Still Accruing Interest

LOANS (Schedule of Schedule o44

LOANS (Schedule of Schedule of Aging of Past Due Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Total Past Due	$ 1,393	$ 2,143
30 to 59 Days Past Due [Member]
Total Past Due	1,240	1,986
60 to 89 Days Past Due [Member]
Total Past Due	$ 153	$ 157
Greater Than 90 Days Past Due [Member]
Total Past Due
Consumer and Other [Member]
Total Past Due	$ 8
Consumer and Other [Member] | 30 to 59 Days Past Due [Member]
Total Past Due
Consumer and Other [Member] | 60 to 89 Days Past Due [Member]
Total Past Due	$ 8
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	$ 1,240	$ 1,371
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | 30 to 59 Days Past Due [Member]
Total Past Due	$ 1,240	1,214
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | 60 to 89 Days Past Due [Member]
Total Past Due		$ 157
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	$ 145
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | 30 to 59 Days Past Due [Member]
Total Past Due
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | 60 to 89 Days Past Due [Member]
Total Past Due	$ 145
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

LOANS (Schedule of Schedule o45

LOANS (Schedule of Schedule of Risk Category of Loans by Class of Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Total Loans	$ 3,025,837	$ 2,911,552
Pass [Member]
Total Loans	2,956,415	2,847,245
Special Mention [Member]
Total Loans	20,605	21,530
Substandard [Member]
Total Loans	$ 48,817	$ 42,777
Doubtful [Member]
Total Loans
Agricultural Sector [Member]
Total Loans	$ 177	$ 179
Agricultural Sector [Member] | Pass [Member]
Total Loans	$ 177	$ 179
Agricultural Sector [Member] | Special Mention [Member]
Total Loans
Agricultural Sector [Member] | Substandard [Member]
Total Loans
Agricultural Sector [Member] | Doubtful [Member]
Total Loans
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans	$ 10,686	$ 11,503
Residential Portfolio Segment [Member] | Junior Lien [Member] | Pass [Member]
Total Loans	$ 10,515	$ 11,327
Residential Portfolio Segment [Member] | Junior Lien [Member] | Special Mention [Member]
Total Loans
Residential Portfolio Segment [Member] | Junior Lien [Member] | Substandard [Member]
Total Loans	$ 171	$ 176
Residential Portfolio Segment [Member] | Junior Lien [Member] | Doubtful [Member]
Total Loans
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Total Loans	$ 173,299	$ 154,295
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Pass [Member]
Total Loans	168,128	148,940
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Special Mention [Member]
Total Loans	5,035	5,184
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Substandard [Member]
Total Loans	$ 136	$ 171
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Doubtful [Member]
Total Loans
Consumer and Other [Member]
Total Loans	$ 47,894	$ 47,635
Consumer and Other [Member] | Pass [Member]
Total Loans	$ 47,894	$ 47,635
Consumer and Other [Member] | Special Mention [Member]
Total Loans
Consumer and Other [Member] | Substandard [Member]
Total Loans
Consumer and Other [Member] | Doubtful [Member]
Total Loans
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans	$ 499,734	$ 483,085
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Pass [Member]
Total Loans	488,749	471,859
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Special Mention [Member]
Total Loans	679	1,332
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Substandard [Member]
Total Loans	$ 10,306	$ 9,894
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member] | Doubtful [Member]
Total Loans
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans	$ 53,481	$ 52,804
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Pass [Member]
Total Loans	$ 53,328	$ 52,550
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	$ 153	$ 254
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Doubtful [Member]
Total Loans
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans	$ 1,489,708	$ 1,416,775
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Pass [Member]
Total Loans	1,480,843	1,407,856
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Special Mention [Member]
Total Loans	7,677	7,718
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Substandard [Member]
Total Loans	$ 1,188	$ 1,201
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Doubtful [Member]
Total Loans
Owner Occupied Property [Member] | Residential Portfolio Segment [Member] | Pass [Member]
Total Loans	$ 157,713
Owner Occupied Property [Member] | Residential Portfolio Segment [Member] | Special Mention [Member]
Total Loans	917
Owner Occupied Property [Member] | Residential Portfolio Segment [Member] | Substandard [Member]
Total Loans	$ 4,865
Owner Occupied Property [Member] | Residential Portfolio Segment [Member] | Doubtful [Member]
Total Loans
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	$ 163,495	$ 176,276
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Total Loans		170,420
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Total Loans		928
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Total Loans		$ 4,928
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	587,213	$ 568,849
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Total Loans	549,068	536,479
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Total Loans	6,147	6,217
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Total Loans	$ 31,998	$ 26,153
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Total Loans
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total Loans	$ 150	$ 151
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Pass [Member]
Total Loans
Construction Loans [Member] | Commercial Portfolio Segment [Member] | Special Mention [Member]
Total Loans	$ 150	$ 151
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
	Mar. 31, 2016	Mar. 31, 2015
Allowance for loan losses
Beginning ALLL	$ 25,856	$ 19,480
Charge-Offs	(275)	(160)
Recoveries	40	146
Provision (Credit)	1,700	1,350
Ending ALLL	27,321	20,816
Agricultural Sector [Member]
Allowance for loan losses
Beginning ALLL	$ 2	$ 4
Charge-Offs
Recoveries
Provision (Credit)		$ (1)
Ending ALLL	$ 2	3
Residential Portfolio Segment [Member] | Junior Lien [Member]
Allowance for loan losses
Beginning ALLL	$ 66	$ 109
Charge-Offs
Recoveries	$ 17	$ 28
Provision (Credit)	(70)	(66)
Ending ALLL	13	71
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Allowance for loan losses
Beginning ALLL	2,209	$ 880
Charge-Offs	(3)
Recoveries	4	$ 25
Provision (Credit)	481	106
Ending ALLL	2,691	1,011
Consumer and Other [Member]
Allowance for loan losses
Beginning ALLL	112	96
Charge-Offs	(1)	(17)
Recoveries	1	10
Provision (Credit)	24	(12)
Ending ALLL	136	77
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	2,297	2,923
Charge-Offs	(13)	(43)
Recoveries	14	66
Provision (Credit)	205	(632)
Ending ALLL	2,503	2,314
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	$ 86	156
Charge-Offs		$ (100)
Recoveries	$ 2
Provision (Credit)	45	$ 41
Ending ALLL	133	97
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	$ 11,813	$ 8,983
Charge-Offs
Recoveries
Provision (Credit)	$ (182)	$ (245)
Ending ALLL	11,631	8,738
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	$ 1,679	$ 1,547
Charge-Offs
Recoveries		$ 11
Provision (Credit)	$ 4	789
Ending ALLL	1,683	2,347
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	7,590	$ 4,751
Charge-Offs	(258)
Recoveries	2	$ 6
Provision (Credit)	1,193	1,378
Ending ALLL	8,527	6,135
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	$ 2	$ 31
Charge-Offs
Recoveries
Provision (Credit)		$ (8)
Ending ALLL	$ 2	$ 23

LOANS (Schedule of Loans Modifi

LOANS (Schedule of Loans Modified as Troubled Debt Restructurings) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)N
Number of Contracts | N	2
Pre-Modification Outstanding Recorded Investment	$ 1,133
Post-Modification Outstanding Recorded Investment	$ 1,133
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Number of Contracts | N	2
Pre-Modification Outstanding Recorded Investment	$ 1,133
Post-Modification Outstanding Recorded Investment	$ 1,133

DEPOSITS (Details of Total Depo

DEPOSITS (Details of Total Deposits) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
DEPOSITS [Abstract]
Time deposits over $250,000	$ 120,100		$ 47,400
Deposits:
Noninterest-bearing demand deposits	457,730	$ 419,887
Interest-bearing deposits checking	905,479	861,697
Savings	119,149	115,007
Money market	820,757	810,709
Certificates of deposit - Retail	446,833	434,450
Sub-total	2,749,948	2,641,750
Interest-bearing demand - Brokered	200,000	200,000
Certificates of deposit - Brokered	93,630	93,720
Total deposits	$ 3,043,578	$ 2,935,470
%
Noninterest-bearing demand deposits	15.04%	14.30%
Interest-bearing checking	29.75%	29.36%
Savings	3.91%	3.92%
Money market	26.97%	27.62%
Certificates of deposit	14.68%	14.80%
Sub-total	90.35%	90.00%
Interest-bearing demand - Brokered	6.57%	6.81%
Certificates of deposit - Brokered	3.08%	3.19%
Total deposits	100.00%	100.00%

DEPOSITS (Scheduled Maturities

DEPOSITS (Scheduled Maturities of Time Deposits) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Scheduled maturities of time deposits
2,016	$ 77,568
2,017	102,202
2,018	181,386
2,019	65,310
2,020	34,426
Over 5 Years	79,571
Total	$ 540,463

FEDERAL HOME LOAN BANK ADVANC50

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS [Abstract]
Advances from Federal Home Loan Banks	$ 83,692	$ 83,700
FHLB interest rate	1.78%	1.78%
Advances with fixed maturity dates	$ 71,700
Weighted average interest rate on fixed maturity advances	1.57%
Residential mortgages pledged as collateral for advances	$ 382,400
Multifamily mortgage loans pledged as collateral for advances	961,300
Callable variable rate advances	$ 12,000
Weighted average interest rate on variable advances (in percent)	3.01%
Investment pledges against advances	$ 17,600
Overnight borrowings of debt	$ 21,100	$ 40,700
Average interest rate of FHLB advances	0.49%	0.52%

FEDERAL HOME LOAN BANK ADVANC51

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Schedule of Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
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

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)segments	Mar. 31, 2015USD ($)
Number of Operating Segments | segments	2
Net interest income	$ 23,410	$ 19,583
Noninterest income	6,263	5,882
Total income	29,673	25,465
Provision for loan losses	1,700	1,350
Salaries and benefits	10,908	9,425
Premises and equipment	2,864	2,616
Other noninterest expense	5,434	3,727
Total noninterest expense	20,906	17,118
INCOME BEFORE INCOME TAX EXPENSE	8,767	8,347
Income tax expense	3,278	3,339
NET INCOME	5,489	5,008
Total assets at period end	3,465,997	2,879,457
Banking [Member]
Net interest income	21,990	18,570
Noninterest income	1,880	1,777
Total income	23,870	20,347
Provision for loan losses	1,700	1,350
Salaries and benefits	8,813	7,540
Premises and equipment	2,637	2,385
Other noninterest expense	3,917	2,495
Total noninterest expense	17,067	13,770
INCOME BEFORE INCOME TAX EXPENSE	6,803	6,577
Income tax expense	2,514	2,651
NET INCOME	4,289	3,926
Total assets at period end	3,415,432	2,853,133
Wealth Management Division [Member]
Net interest income	1,420	1,013
Noninterest income	4,383	4,105
Total income	$ 5,803	$ 5,118
Provision for loan losses
Salaries and benefits	$ 2,095	$ 1,885
Premises and equipment	227	231
Other noninterest expense	1,517	1,232
Total noninterest expense	3,839	3,348
INCOME BEFORE INCOME TAX EXPENSE	1,964	1,770
Income tax expense	764	688
NET INCOME	1,200	1,082
Total assets at period end	$ 53,252	$ 26,324

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
FAIR VALUE [Abstract]
Loans held for sale, at fair value	$ 3,537	$ 1,558
Impaired collateral loans recorded investment	346	299
Impaired collateral loans valuation allowance	$ 61	$ 48
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	Mar. 31, 2016	Dec. 31, 2015
Securities available for sale	$ 214,050	$ 195,630
Loans held for sale, at fair value	3,537	1,558
U.S. Government-Sponsored Entities [Member]
Securities available for sale	8,003
Mortgage-Backed Securities-Residential [Member]
Securities available for sale	166,987	160,607
SBA Pool Securities [Member]
Securities available for sale	7,409	7,520
State and Political Subdivisions [Member]
Securities available for sale	26,313	22,029
Single-Issuer Trust Preferred Security [Member]
Securities available for sale	2,358	2,535
CRA Investment Fund [Member]
Securities available for sale	2,980	2,939
Recurring Basis [Member]
Loans held for sale, at fair value	3,537	1,558
Total	219,772	198,398
Derivatives	(7,336)	(2,540)
Recurring Basis [Member] | Designated as Hedging Instrument [Member]
Derivatives		104
Derivatives	(5,151)	(1,434)
Recurring Basis [Member] | Not Designated as Hedging Instrument [Member]
Derivatives	2,185	1,106
Derivatives	(2,185)	(1,106)
Recurring Basis [Member] | U.S. Government-Sponsored Entities [Member]
Securities available for sale	8,003
Recurring Basis [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale	166,987	160,607
Recurring Basis [Member] | SBA Pool Securities [Member]
Securities available for sale	7,409	7,520
Recurring Basis [Member] | State and Political Subdivisions [Member]
Securities available for sale	26,313	22,029
Recurring Basis [Member] | Single-Issuer Trust Preferred Security [Member]
Securities available for sale	2,358	2,535
Recurring Basis [Member] | CRA Investment Fund [Member]
Securities available for sale	$ 2,980	$ 2,939
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Loans held for sale, at fair value
Total	$ 2,980	$ 2,939
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	$ 2,980	$ 2,939
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Loans held for sale, at fair value	3,537	1,558
Total	216,792	195,459
Derivatives	(7,336)	(2,540)
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Designated as Hedging Instrument [Member]
Derivatives		104
Derivatives	(5,151)	(1,434)
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Not Designated as Hedging Instrument [Member]
Derivatives	2,185	1,106
Derivatives	(2,185)	(1,106)
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Government-Sponsored Entities [Member]
Securities available for sale	8,003
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale	166,987	160,607
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | SBA Pool Securities [Member]
Securities available for sale	7,409	7,520
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | State and Political Subdivisions [Member]
Securities available for sale	26,313	22,029
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Single-Issuer Trust Preferred Security [Member]
Securities available for sale	$ 2,358	$ 2,535
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	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
FAIR VALUE [Abstract]
Residential loans contractual balance	$ 3,483	$ 1,536
Fair value adjustment	54	22
Total fair value of residential loans held for sale	$ 3,537	$ 1,558

FAIR VALUE (Schedule of Asset56

FAIR VALUE (Schedule of Assets Measured on a Non-Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
OREO	$ 861	$ 563
Non-Recurring Basis [Member]
OREO	330	330
Non-Recurring Basis [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Impaired loans	$ 285	$ 251
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	$ 330
Non-Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Impaired loans	$ 285	$ 251

FAIR VALUE (Schedule of Financi

FAIR VALUE (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Financial Assets:
Securities available for sale	$ 214,050	$ 195,630
FHLB and FRB Stock	13,254	13,984
Loans held for sale, at fair value	3,537	1,558
Multifamily mortgage loans held for sale, at lower of cost or fair value	38,066	82,200
Accrued interest receivable	7,497	6,820
Financial Liabilities:
Federal home loan bank advances	83,692	83,700
Carrying Value [Member]
Financial Assets:
Cash and cash equivalents	77,919	70,160
Securities available for sale	214,050	195,630
FHLB and FRB Stock	13,254	13,984
Loans held for sale, at fair value	3,537	1,558
Multifamily mortgage loans held for sale, at lower of cost or fair value	38,066	82,200
Loans, net of allowance for loan losses	3,000,380	2,887,386
Accrued interest receivable	7,497	6,820
Financial Liabilities:
Deposits	3,043,578	2,935,470
Overnight borrowings	21,100	40,700
Federal home loan bank advances	83,692	83,692
Accrued interest payable	1,019	957
Carrying Value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives		104
Financial Liabilities:
Derivatives	5,151	1,434
Carrying Value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	2,185	1,106
Financial Liabilities:
Derivatives	2,185	1,106
Fair value [Member]
Financial Assets:
Cash and cash equivalents	77,919	70,160
Securities available for sale	$ 214,050	$ 195,630
FHLB and FRB Stock
Loans held for sale, at fair value	$ 3,537	$ 1,558
Multifamily mortgage loans held for sale, at lower of cost or fair value	38,066	82,200
Loans, net of allowance for loan losses	3,001,458	2,865,601
Accrued interest receivable	7,497	6,820
Financial Liabilities:
Deposits	3,048,139	2,933,526
Overnight borrowings	21,100	40,700
Federal home loan bank advances	84,862	84,409
Accrued interest payable	1,019	957
Fair value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives		104
Financial Liabilities:
Derivatives	5,151	1,434
Fair value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	2,185	1,106
Financial Liabilities:
Derivatives	2,185	1,106
Fair value [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Financial Assets:
Cash and cash equivalents	77,919	70,160
Securities available for sale	$ 2,980	$ 2,939
FHLB and FRB Stock
Loans held for sale, at fair value
Multifamily mortgage loans held for sale, at lower of cost or fair value
Loans, net of allowance for loan losses
Accrued interest receivable
Financial Liabilities:
Deposits	$ 2,503,115	$ 2,407,300
Overnight borrowings
Federal home loan bank advances
Accrued interest payable	$ 128	$ 128
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
Securities available for sale	$ 211,070	$ 192,691
FHLB and FRB Stock
Loans held for sale, at fair value	$ 3,537	$ 1,558
Multifamily mortgage loans held for sale, at lower of cost or fair value	$ 38,066	$ 82,200
Loans, net of allowance for loan losses
Accrued interest receivable	$ 636	$ 562
Financial Liabilities:
Deposits	545,024	526,226
Overnight borrowings	21,100	40,700
Federal home loan bank advances	84,862	84,409
Accrued interest payable	891	829
Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives		104
Financial Liabilities:
Derivatives	5,151	1,434
Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	2,185	1,106
Financial Liabilities:
Derivatives	$ 2,185	$ 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
Multifamily mortgage loans held for sale, at lower of cost or fair value
Loans, net of allowance for loan losses	$ 3,001,458	$ 2,865,601
Accrued interest receivable	$ 6,861	$ 6,258
Financial Liabilities:
Deposits
Overnight borrowings
Federal home loan bank advances
Accrued interest payable
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	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Other operating expenses
FDIC assessment	$ 1,559	$ 482
Wealth management division other expense	622	621
Professional and legal fees	986	768
Other operating expenses	2,267	1,856
Total other operating expenses	$ 5,434	$ 3,727

ACCUMULATED OTHER COMPREHENSI59

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME (Schedule of Accumulated Other Comprehensive Income Balances, Net of Tax) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 275,676
Total other comprehensive (loss)/income	(1,635)	$ 18
Balance	283,505
Net Unrealized Holding Gain/(Loss) on Securities Available for Sale, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	408	1,321
Other Comprehensive Income/(Loss) Before Reclassifications	688	779
Amount Reclassified From Accumulated Other Comprehensive (Income)	(63)	(174)
Total other comprehensive (loss)/income	625	605
Balance	1,033	1,926
Losses on Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(787)	(100)
Other Comprehensive Income/(Loss) Before Reclassifications	$ (2,260)	$ (587)
Amount Reclassified From Accumulated Other Comprehensive (Income)
Total other comprehensive (loss)/income	$ (2,260)	$ (587)
Balance	(3,047)	(687)
Accumulated Other Comprehensive Income/(Loss), Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(379)	1,221
Other Comprehensive Income/(Loss) Before Reclassifications	(1,572)	192
Amount Reclassified From Accumulated Other Comprehensive (Income)	(63)	(174)
Total other comprehensive (loss)/income	(1,635)	18
Balance	$ (2,014)	$ 1,239

ACCUMULATED OTHER COMPREHENSI60

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME (Schedule of Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities gains, net	$ 101	$ 268
Interest expense	4,488	2,778
Income tax expense	(3,278)	(3,339)
Net income	5,489	5,008
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	(38)	(94)
Net income	63	174
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	$ 101	$ 268

DERIVATIVES (Details)

DERIVATIVES (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)N	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)N
Derivative [Line Items]
Interest expense	$ 4,488	$ 2,778
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount	$ 180,000		$ 180,000
Weighted average pay rate	1.64%		1.64%
Weighted average receive rate	0.51%		0.29%
Weighted average maturity	4 years		4 years 3 months
Unrealized loss	$ (5,151)		$ (1,331)
Number of contracts | N	9		9
Interest expense	$ 504	95
Amount of Gain/(Loss) Recognized In OCI (Effective Portion)	$ (2,260)	$ (587)
Amount of Gain/(Loss) Reclassified From OCI to Interest Expense
Amount of Gain/(Loss) Recognized in Other Non-Interest Expense (Ineffective Portion)
Fair Value	$ (5,151)		$ (1,330)
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Assets [Member]
Derivative [Line Items]
Notional Amount			15,000
Fair Value			104
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Other Liabilities [Member]
Derivative [Line Items]
Notional Amount	$ 180,000		165,000
Fair Value	(5,151)		(1,434)
Not Designated as Hedging Instrument [Member] | Loan Level Swaps [Member]
Derivative [Line Items]
Notional Amount	$ 34,696		$ 27,259
Weighted average pay rate	3.25%		3.06%
Weighted average receive rate	1.84%		1.44%
Weighted average maturity	14 years 4 months 24 days		15 years 9 months 18 days
Fair Value	$ 2,185		$ 1,106