Peapack-Gladstone Financial (PGC) 10-K 14 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Mar. 06, 2017	Jun. 30, 2016
Document And Entity Information
Entity Registrant Name	PEAPACK GLADSTONE FINANCIAL CORP
Entity Central Index Key	1,050,743
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 291
Entity Common Stock, Shares Outstanding		17,548,472
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016
Trading Symbol	PGC

CONSOLIDATED STATEMENTS OF COND

CONSOLIDATED STATEMENTS OF CONDITION - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Cash and due from banks	$ 24,580	$ 11,550
Federal funds sold	101	101
Interest-earning deposits	138,010	58,509
Total cash and cash equivalents	162,691	70,160
Securities available for sale	305,388	195,630
FHLB and FRB stock, at cost	13,813	13,984
Loans held for sale, at fair value	1,200	1,558
Loans held for sale, at lower of cost or fair value	388	82,200
Loans	3,312,144	2,913,242
Less: Allowance for loan losses	32,208	25,856
Net loans	3,279,936	2,887,386
Premises and equipment	30,371	30,246
Other real estate owned	534	563
Accrued interest receivable	8,153	6,820
Bank owned life insurance	43,806	42,885
Deferred tax assets, net	15,320	15,582
Goodwill	1,573	1,573
Intangibles	1,584	1,708
Other assets	13,876	14,364
Total assets	3,878,633	3,364,659
Deposits:
Noninterest-bearing demand deposits	489,485	419,887
Interest-bearing deposits:
Checking	1,023,081	861,697
Savings	120,056	115,007
Money market accounts	1,048,494	810,709
Certificates of deposit	457,000	434,450
Subtotal deposits	3,138,116	2,641,750
Interest-bearing demand - Brokered	180,000	200,000
Certificates of deposit - Brokered	93,721	93,720
Total deposits	3,411,837	2,935,470
Overnight borrowings		40,700
Federal Home Loan Bank advances	61,795	83,692
Capital lease obligation	9,693	10,222
Subordinated debt, net	48,764
Accrued expenses and other liabilities	22,334	18,899
Total liabilities	3,554,423	3,088,983
SHAREHOLDERS' EQUITY
Preferred stock (no par value; authorized 500,000 shares)
Common stock (no par value; stated value $0.83 per share; authorized 21,000,000 shares; issued shares, 17,666,173 at December 31, 2016 and 16,476,297 at December 31, 2015; outstanding shares, 17,257,995 at December 31, 2016 and 16,068,119 at December 31, 2015)	14,717	13,717
Surplus	238,708	213,203
Treasury stock at cost (408,178 shares at December 31, 2016 and 2015)	(8,988)	(8,988)
Retained earnings	81,304	58,123
Accumulated other comprehensive loss	(1,531)	(379)
Total shareholders' equity	324,210	275,676
Total liabilities and shareholders' equity	$ 3,878,633	$ 3,364,659

CONSOLIDATED STATEMENTS OF CON3

CONSOLIDATED STATEMENTS OF CONDITION (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value
Preferred stock, shares authorized	500,000	500,000
Common stock, stated value	$ 0.83	$ 0.83
Common stock, shares authorized	21,000,000	21,000,000
Common stock, shares issued	17,666,173	16,476,297
Common stock, shares outstanding	17,257,995	16,068,119
Treasury stock, shares	408,178	408,178

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
INTEREST INCOME
Loans, including fees	$ 111,971	$ 94,339	$ 70,468
Securities available for sale:
Taxable	4,018	4,079	4,156
Tax-exempt	508	520	703
Interest-earning deposits	551	204	248
Total interest income	117,048	99,142	75,575
INTEREST EXPENSE
Checking accounts	2,146	1,495	781
Savings and money market accounts	3,244	2,111	1,671
Certificates of deposit	6,270	4,411	1,521
Overnight and short-term borrowings	316	107	48
Federal Home Loan Bank advances	1,448	1,495	1,485
Capital lease obligation	478	503	483
Subordinated debt	1,696
Subtotal - interest expense	15,598	10,122	5,989
Interest-bearing demand - brokered	3,020	2,534	307
Interest on certificates of deposits - brokered	1,995	2,034	1,385
Total Interest expense	20,613	14,690	7,681
Net interest income before provision for loan losses	96,435	84,452	67,894
Provision for loan losses	7,500	7,100	4,875
Net interest income after provision for loan losses	88,935	77,352	63,019
OTHER INCOME
Wealth management fee income	18,240	17,039	15,242
Service charges and fees	3,252	3,323	3,111
Bank owned life insurance	1,407	1,297	1,092
Gain on loans held for sale at fair value	1,010	528	439
Gain on loans held for sale at lower of cost or fair value	1,233		166
Fee income related to loan level, back-to-back swaps	1,638	373
Gain on sale of SBA loans	623	7
Other income	1,396	620	497
Securities gains, net	119	527	260
Total other income	28,918	23,714	20,807
OPERATING EXPENSES
Compensation and employee benefits	45,003	40,278	36,241
Premises and equipment	11,245	11,569	9,963
Other operating expense	18,864	17,079	13,336
Total operating expenses	75,112	68,926	59,540
Income before income tax expense	42,741	32,140	24,286
Income tax expense	16,264	12,168	9,396
Net income	$ 26,477	$ 19,972	$ 14,890
EARNINGS PER SHARE
Basic (in dollars per share)	$ 1.62	$ 1.31	$ 1.23
Diluted (in dollars per share)	$ 1.60	$ 1.29	$ 1.22

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 26,477	$ 19,972	$ 14,890
Unrealized (losses) gains on available for sale securities:
Unrealized holding (losses) gains arising during the period	(2,310)	(959)	2,378
Less: Reclassification adjustment for net gains included in net income	(119)	(527)	(260)
Before tax	(2,429)	(1,486)	2,118
Tax effect	930	573	(820)
Net of tax	(1,499)	(913)	1,298
Unrealized loss on cash flow hedge
Unrealized holding gain (loss)	587	(1,162)	(169)
Reclassification adjustment for losses included in net income
Before tax	587	(1,162)	(169)
Tax effect	(240)	475	69
Net of tax	347	(687)	(100)
Total other comprehensive (loss)/income	(1,152)	(1,600)	1,198
Total comprehensive income	$ 25,325	$ 18,372	$ 16,088

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Preferred Stock	Common Stock [Member]	Surplus [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Total
Balance at Dec. 31, 2013		$ 10,148	$ 140,699	$ (8,988)	$ 28,775	$ 23	$ 170,657
Shares outstanding at Dec. 31, 2013		11,788,517
Net income					14,890		14,890
Accumulated other comprehensive income (loss)						1,198	1,198
Issuance of restricted stock, net of forfeitures		$ 121	(121)
Issuance of restricted stock, net of forfeitures, shares		145,747
Amortization of restricted stock awards/units			1,475				1,475
Cash dividends declared on common stock					(2,414)		(2,414)
Common stock option expense			234				234
Common stock options exercised and related tax benefits		$ 14	160				174
Common stock options exercised and related tax benefits, shares		14,702
Sales of shares (dividend reinvestment program)		$ 347	7,082				7,429
Sales of shares (dividend reinvestment program), shares		416,057
Issuance of shares, Profit Sharing Plan		$ 3	67				70
Issuance of shares, Profit Sharing Plan, shares		3,781
Issuance of shares for Employee Stock Purchase Plan		$ 8	188				196
Issuance of shares for Employee Stock Purchase Plan, shares		10,698
Issuance of stock offering net of costs		$ 2,313	46,045				48,358
Issuance of stock offering net of costs, shares		2,776,215
Balance at Dec. 31, 2014		$ 12,954	195,829	(8,988)	41,251	1,221	242,267
Shares outstanding at Dec. 31, 2014		15,155,717
Net income					19,972		19,972
Accumulated other comprehensive income (loss)						(1,600)	(1,600)
Issuance of restricted stock, net of forfeitures		$ 134	(134)
Issuance of restricted stock, net of forfeitures, shares		160,457
Restricted stock repurchased on vesting to pay taxes		$ (3)	(78)				(81)
Restricted stock repurchased on vesting to pay taxes, shares		3,776
Amortization of restricted stock awards/units			1,621				1,621
Cash dividends declared on common stock					(3,100)		(3,100)
Common stock option expense			219				219
Common stock options exercised and related tax benefits		$ 11	75				86
Common stock options exercised and related tax benefits, shares		18,891
Common stock options exercised, shares used for exercise		7,506
Common stock options, related tax benefits, shares		11,385
Sales of shares (dividend reinvestment program)		$ 555	13,093				13,648
Sales of shares (dividend reinvestment program), shares		665,654
Issuance of shares for Employee Stock Purchase Plan		$ 26	618				644
Issuance of shares for Employee Stock Purchase Plan, shares		30,766
Issuance of common stock for acquisition		$ 40	960				1,000
Issuance of common stock for acquisition, shares		47,916
Issuance of warrants			1,000				1,000
Balance at Dec. 31, 2015		$ 13,717	213,203	(8,988)	58,123	(379)	$ 275,676
Shares outstanding at Dec. 31, 2015		16,068,119					16,068,119
Net income					26,477		$ 26,477
Accumulated other comprehensive income (loss)						(1,152)	(1,152)
Issuance of restricted stock, net of forfeitures		$ (10)	10
Issuance of restricted stock, net of forfeitures, shares		12,133
Restricted stock repurchased on vesting to pay taxes		$ (24)	(530)				(554)
Restricted stock repurchased on vesting to pay taxes, shares		29,088
Amortization of restricted stock awards/units			2,836				2,836
Cash dividends declared on common stock					(3,296)		(3,296)
Common stock option expense			56				56
Common stock options exercised and related tax benefits		$ 59	1,010				$ 1,069
Common stock options exercised and related tax benefits, shares		70,632					70,527
Common stock options exercised, shares used for exercise		9,723
Common stock options, related tax benefits, shares		60,909
Sales of shares (dividend reinvestment program)		$ 948	21,513				$ 22,461
Sales of shares (dividend reinvestment program), shares		1,137,998
Issuance of shares for Employee Stock Purchase Plan		$ 27	610				637
Issuance of shares for Employee Stock Purchase Plan, shares		32,190
Balance at Dec. 31, 2016		$ 14,717	$ 238,708	$ (8,988)	$ 81,304	$ (1,531)	$ 324,210
Shares outstanding at Dec. 31, 2016		17,257,995					17,257,995

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Stockholders' Equity [Abstract]
Cash dividends declared on common stock, per share	$ 0.20	$ 0.20	$ 0.20

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating activities:
Net income		$ 26,477	$ 19,972	$ 14,890
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		3,093	3,921	2,993
Amortization of premium and accretion of discount on securities, net		1,478	1,664	1,533
Amortization of restricted stock		2,836	1,621	1,475
Amortization of intangible assets		123	82
Amortization of subordinated debt costs		71
Provision of loan losses		7,500	7,100	4,875
Valuation allowance on other real estate owned			250	400
Stock-based compensation and employee stock purchase plan expense		156	319	283
Deferred tax expense/(benefit)		952	(4,043)	(1,480)
Gains on sale of securities, available for sale, net		(119)	(527)	(260)
Proceeds from sales of loans held for sale	[1]	72,477	34,543	30,585
Loans originated for sale	[1]	(70,874)	(34,734)	(28,985)
Gain on loans held for sale	[1]	(1,633)	(535)	(438)
Gain on sale of loans held for sale at lower of cost or fair value		(1,233)		(166)
Gain on OREO sold		(5)		(139)
Loss/(gain) on disposal of premises and equipment			15	(9)
Gain on death benefit			(285)
Increase in cash surrender value of life insurance		(921)	(643)	(752)
Increase in accrued interest receivable		(1,333)	(1,449)	(1,285)
Decrease/(increase) in other assets		945	(476)	2,590
Increase in accrued expenses and other liabilities		2,936	3,511	1,153
Net cash provided by operating activities		42,926	30,306	27,263
Investing activities:
Maturities and calls of securities available for sale		67,999	96,194	80,382
Redemptions for FHLB & FRB stock		61,606	48,627	29,722
Sales of securities available for sale		5,499	46,254	35,411
Purchase of securities available for sale		(187,043)	(8,049)	(179,153)
Purchase of FHLB & FRB stock		(61,435)	(51,018)	(31,283)
Sales of whole loans held for sale at lower of cost or fair value		201,681		68,022
Net increase in loans, net of participations sold		(518,832)	(746,132)	(745,434)
Sales of other real estate		568	744	1,100
Purchases of premises and equipment		(3,218)	(1,924)	(3,941)
Disposal of premises and equipment				15
Acquisition of a wealth management company			(800)
Proceeds from death benefit			677
Purchase of life insurance			(10,000)
Net cash used in investing activities		(433,175)	(625,427)	(745,159)
Financing activities:
Net increase in deposits		476,367	636,777	651,443
Net decrease in overnight borrowings		(40,700)	(13,900)	(300)
Proceeds from Federal Home Loan Bank advances				9,000
Repayments of FHLB advances		(21,897)
Cash dividends paid on common stock		(3,296)	(3,100)	(2,414)
Exercise of stock options, net stock swaps		1,069	86	174
Restricted stock repurchased on vesting to pay taxes		(554)	(81)
Proceeds from issuance of subordinated debt		48,693
Net proceeds, rights offering				48,358
Sale of common shares (Dividend Reinvestment Program)		22,461	13,648	7,429
Purchase of shares of profit sharing plan				70
Issuance of shares for employee stock purchase plan		637	644	196
Net cash provided by financing activities		482,780	634,074	713,956
Net increase/(decrease) in cash and cash equivalents		92,531	38,953	(3,940)
Cash and cash equivalents at beginning of year		70,160	31,207	35,147
Cash and cash equivalents at end of year		162,691	70,160	31,207
Supplemental disclosures of cash flow information
Interest		19,965	13,726	7,042
Income taxes		14,870	15,572	7,747
Transfer of loans to loans held for sale		182,694	286,519	67,855
Transfer of loans held for sale to loan portfolio		30,121
Transfer of loans to other real estate owned		$ 534	233	744
Increase in capital lease				$ 2,326
Acquisition (Note 18)
Goodwill			1,010
Customer relationship & other intangibles			$ 1,790
[1]	Includes mortgage loans originated with the intent to sell which are carried at fair value. In addition, this includes the guaranteed portion of SBA loans which are carried at the lower of cost or fair value.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Organization: Business: Basis of Financial Statement Presentation Segment Information The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support sales. Peapack-Gladstone Bank’s Private Wealth Management Division includes asset management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; corporate trust services including services as trustee for pension and profit sharing plans; and other financial planning and advisory services. This segment also includes the activity from the Delaware subsidiary. Income is recognized as earned. Cash and Cash Equivalents: 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. 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. SBA loans originated with the intent to sell in the secondary market are carried at the lower of cost or fair value. SBA loans are generally sold with the servicing rights retained. Gains and losses on the sale of SBA loans are based on the difference between the selling price and the carrying value of the related loan sold. Total SBA loans serviced totaled $5.8 million and $236 thousand as of December 31, 2016 and 2015, respectively. As of December 31, 2016, SBA loans held for sale totaled $388 thousand. There were no SBA loans held for sale as of December 31, 2015. The servicing asset recorded was not material. Loans originated with the intent to hold and subsequently transferred to loans held for sale are carried at the lower of cost or fair value. These are loans that the Company no longer has the intent to hold for the foreseeable future. Loans: Loans are considered past due when they are not paid in accordance with contractual terms. The accrual of income on loans, including impaired loans, is discontinued if, in the opinion of Management, principal or interest is not likely to be paid in accordance with the terms of the loan agreement, or when principal or interest is past due 90 days or more and collateral, if any, is insufficient to cover principal and interest. All interest accrued but not received for loans placed on nonaccrual, is reversed against interest income. Payments received on nonaccrual loans are recorded as principal payments. A nonaccrual loan is returned to accrual status only when interest and principal payments are brought current and future payments are reasonably assured, generally when the Bank receives contractual payments for a minimum of six months. Commercial loans are generally charged off after an analysis is completed which indicates that collectability of the full principal balance is in doubt. Consumer loans are generally charged off after they become 120 days past due. Subsequent payments are credited to income only if collection of principal is not in doubt. If principal and interest payments are brought contractually current and future collectability is reasonably assured, loans are returned to accrual status. Nonaccrual mortgage loans are generally charged off when the value of the underlying collateral does not cover the outstanding principal balance. The majority of the Company’s loans are secured by real estate in the State of New Jersey and New York. Allowance for Loan Losses: The allowance consists of specific and general components. The specific component of the allowance relates to loans that are individually classified as impaired. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Factors considered by Management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Loans are individually evaluated for impairment when they are classified as substandard by Management. If a loan is considered impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral less estimated disposition costs if repayment is expected solely from the collateral. If a residential mortgage is placed on nonaccrual status and is in the process of collection, such as through a foreclosure action, then it is evaluated for impairment on an individual basis and the loan is reported, net, at the fair value of the collateral less estimated disposition costs. A troubled debt restructuring is a modified loan with concessions made by the lender to a borrower who is experiencing financial difficulty. Troubled debt restructurings are impaired and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral, less estimated disposition costs. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component of the allowance covers non-impaired loans and is based primarily on the Bank’s historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experience by the Company on a weighted average basis over the previous three years. This actual loss experience is adjusted by other qualitative factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures and practices; experience, ability and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. For loans that are graded as non-impaired, the Company allocates a higher general reserve percentage then pass-rated loans using a multiple that is calculated annually through a migration analysis. At December 31, 2016 and 2015, the multiple was 4.0 times and 5.0 times for non-impaired substandard loans and 2.0 times and 2.5 times for non-impaired special mention loans. 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 Premises and Equipment: Other Real Estate Owned (OREO): Bank Owned Life Insurance (BOLI): Loan Commitments and Related Financial Instruments: Derivatives: Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in non-interest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. Income Taxes: The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in its financial statements or tax returns. The measurement of deferred tax assets and liabilities is based on the enacted tax rates. Such tax assets and liabilities are adjusted for the effect of a change in tax rates in the period of enactment. The Company recognizes a tax position as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50 percent likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company is no longer subject to examination by the U.S. Federal tax authorities for years prior to 2013 or by state and local tax authorities for years prior to 2012. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Benefit Plans: Stock-Based Compensation: Employee Stock Purchase Plan (“ESPP”): Earnings Per Share (“EPS”): The following table shows the calculation of both basic and diluted earnings per share for the years ended December 31, 2016, 2015 and 2014: (In thousands, except share and per share data) 2016 2015 2014 Net income available to common shareholders $ 26,477 $ 19,972 $ 14,890 Basic weighted average shares outstanding 16,318,868 15,187,637 12,065,615 Plus: common stock equivalents 196,130 247,359 106,492 Diluted weighted average shares outstanding 16,514,998 15,434,996 12,172,107 Earnings per share: Basic $ 1.62 $ 1.31 $ 1.23 Diluted 1.60 1.29 1.22 Stock options totaling 2,479, 92,720 and 478,389 shares were not included in the computation of diluted earnings per share in the years ended December 31, 2016, 2015 and 2014, respectively, because they were considered antidilutive. Loss Contingencies: Restrictions on Cash: Comprehensive Income: Equity: 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 years. Reclassification: New Accounting Policies: In January 2016, the FASB issued ASU 2016-01, Financial Instruments. This guidance amends 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 issued ASU No. 2016-02, Leases (Topic 842). The standard requires a lessee to recognize assets and liabilities on the balance sheet for leases with lease terms greater than 12 months. For lessees, virtually all leases will be required to be recognized on the balance sheet by recording a right-of-use asset and lease liability. Subsequent accounting for leases varies depending on whether the lease is an operating lease or a finance lease. The ASU requires additional qualitative and quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. We are currently evaluating the impact that the standard will have on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting. Under the ASU, an entity recognizes all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement. This change eliminates the notion of the APIC pool and reduces the complexity and cost of accounting for excess tax benefits and tax deficiencies. Excess tax benefits and tax deficiencies are considered discrete items in the reporting period they occur and are not included in the estimate of an entity’s annual effective tax rate. Additionally, this update permits an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures as they occur. This accounting guidance is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Upon adoption, excess tax benefits and tax deficiencies will be recognized in the provision for income taxes on the consolidated statement of operations and will be presented within operating activities on the consolidated statement of cash flows. On June 16, 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (the ASU). This ASU replaces the incurred loss model with an expected loss model, referred to as “current expected credit loss” (CECL) model. It will significantly change estimates for credit losses related to financial assets measured at amortized cost, including loans receivable, held-to-maturity (HTM) debt securities and certain other contracts. The largest impact will be on lenders and the allowance for loan and lease losses (ALLL). This ASU will be effective for public business entities (PBEs) in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently in the process of evaluating the impact of this ASU on its consolidated financial statements. On August 26, 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments)”. This ASU addresses the following eight specific cash flow issues: Debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (COLIs) (including bank-owned life insurance policies (BOLIs)); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. This amendment is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. There is no material impact on our statement of cash flows as a result of this ASU.

INVESTMENT SECURITIES AVAILABLE

INVESTMENT SECURITIES AVAILABLE FOR SALE	12 Months Ended
	Dec. 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 investment securities available for sale included in the consolidated statements of condition as of December 31, 2016 and 2015 follows: 2016 Gross Gross Amortized Unrecognized Unrecognized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored agencies $ 21,991 $ — $ (474 ) $ 21,517 Mortgage-backed securities-residential 238,271 860 (1,514 ) 237,617 SBA pool securities 6,778 — (65 ) 6,713 State and political subdivisions 29,107 160 (274 ) 28,993 Corporate bond 3,000 113 — 3,113 Single-issuer trust preferred security 2,999 — (389 ) 2,610 CRA investment fund 5,000 — (175 ) 4,825 Total $ 307,146 $ 1,133 $ (2,891 ) $ 305,388 2015 Gross Gross Amortized Unrecognized Unrecognized Fair (In thousands) Cost Gains Losses Value Mortgage-backed securities-residential $ 159,747 $ 1,293 $ (433 ) $ 160,607 SBA pool securities 7,601 — (81 ) 7,520 State and political subdivisions 21,612 417 — 22,029 Single-issuer trust preferred security 2,999 — (464 ) 2,535 CRA investment fund 3,000 — (61 ) 2,939 Total $ 194,959 $ 1,710 $ (1,039 ) $ 195,630 The amortized cost and approximate fair value of investment securities available for sale as of December 31, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity, such as mortgage-backed securities, marketable equity securities and the CRA Investment Fund, are shown separately. Maturing in: (In thousands) Amortized Cost Fair Value One year or less $ 9,483 $ 9,487 After one year through five years 19,409 19,451 After five years through ten years 20,359 19,873 After ten years 7,846 7,422 57,097 56,233 Mortgage-backed securities-residential 238,271 237,617 SBA pool securities 6,778 6,713 CRA investment fund 5,000 4,825 Total $ 307,146 $ 305,388 Securities available for sale with fair value of $154.7 million and $136.0 million as of December 31, 2016 and December 31, 2015, respectively, were pledged to secure public funds and for other purposes required or permitted by law. The following is a summary of the gross gains, gross losses and net tax expense related to proceeds on sales of securities available for sale for the years ended December 31, (In thousands) 2016 2015 2014 Proceeds on sales $ 5,499 $ 46,254 $ 35,411 Gross gains 133 536 414 Gross losses (14 ) (9 ) (154 ) Net tax expense 44 216 91 The following table presents the Company’s available for sale securities with continuous unrealized losses and the approximate fair value of these investments as of December 31, 2016 and 2015. 2016 Duration of Unrecognized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrecognized Fair Unrecognized Fair Unrecognized (In thousands) Value Losses Value Losses Value Losses U.S. government- sponsored agencies $ 21,517 $ (474 ) $ — $ — $ 21,517 $ (474 ) Mortgage-backed securities-residential 151,114 (1,472 ) 5,147 (42 ) 156,261 (1,514 ) SBA pool securities — — 6,713 (65 ) 6,713 (65 ) State and political subdivisions 9,412 (274 ) — — 9,412 (274 ) Single-issuer trust preferred security — — 2,610 (389 ) 2,610 (389 ) CRA investment fund 1,930 (70 ) 2,894 (105 ) 4,824 (175 ) Total $ 183,973 $ (2,290 ) $ 17,364 $ (601 ) $ 201,337 $ (2,891 ) 2015 Duration of Unrecognized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrecognized Fair Unrecognized Fair Unrecognized (In thousands) Value Losses Value Losses Value Losses Mortgage-backed securities-residential $ 89,717 $ (345 ) $ 8,913 $ (88 ) $ 98,630 $ (433 ) SBA pool securities — 7,520 (81 ) 7,520 (81 ) Single-issuer trust preferred security — — 2,535 (464 ) 2,535 (464 ) CRA investment fund — — 2,939 (61 ) 2,939 (61 ) Total $ 89,717 $ (345 ) $ 21,907 $ (694 ) $ 111,624 $ (1,039 ) Management believes that the unrealized losses on investment securities available for sale are temporary and due to interest rate fluctuations and/or volatile market conditions rather than the credit worthiness of the issuers. The Company does not intend to sell these securities nor is it likely that it will be required to sell the securities before their anticipated recovery. At December 31, 2016, the unrealized loss of $389 thousand is related to a single-issuer trust preferred security issued by a large bank holding company that has experienced declines in fair value on all its securities due to the turmoil in the financial markets and a merger. The investment continues to be rated below investment grade by at least two recognized rating agencies. Management monitors the performance of the issuer on a quarterly basis to determine if there are any credit events that could result in deferral or default of the security. The fair value of this security at December 31, 2016, is higher than the fair value at December 31, 2015. Management believes the depressed valuation is a result of the nature of the bond, a trust preferred security, and the bond’s very low yield and not due to credit. At December 31, 2016, Management does not intend to sell the security nor is it likely that it will be required to sell the security before its anticipated recovery. No other-than-temporary impairment charges were recognized in 2016, 2015 or 2014.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
LOANS	3. LOANS The following table presents loans outstanding, by type of loan, as of December 31: % of Total % of Total (Dollars in thousands) 2016 Loans 2015 Loans Residential mortgage $ 527,370 15.92% $ 470,869 16.16% Multifamily mortgage 1,459,594 44.07 1,416,775 48.63 Commercial mortgage 551,233 16.65 413,118 14.18 Commercial loans 636,714 19.23 512,886 17.60 Construction loans 1,405 0.04 1,401 0.05 Home equity lines of credit 65,682 1.98 52,649 1.81 Consumer loans, including fixed rate home equity loans 69,654 2.10 45,044 1.55 Other loans 492 0.01 500 0.02 Total loans $ 3,312,144 100.00% $ 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 December 31: % of Total % of Total (Dollars in thousands) 2016 Loans 2015 Loans Primary residential mortgage $ 557,970 16.86% $ 483,085 16.59% Home equity lines of credit 65,683 1.98 52,804 1.81 Junior lien loan on residence 9,206 0.28 11,503 0.39 Multifamily property 1,459,594 44.09 1,416,775 48.66 Owner-occupied commercial real estate 176,123 5.32 176,276 6.05 Investment commercial real estate 752,258 22.73 568,849 19.54 Commercial and industrial 213,983 6.47 154,295 5.30 Farmland/Agricultural production 169 0.01 179 0.01 Commercial construction 1,497 0.04 151 0.01 Consumer and other 73,621 2.22 47,635 1.64 Total loans $ 3,310,104 100.00% $ 2,911,552 100.00% Net deferred costs 2,040 1,690 Total loans including net deferred costs $ 3,312,144 $ 2,913,242 Loans are transferred from the loan portfolio to held for sale when the Company no longer has the intent to hold the loans for the foreseeable future. Multifamily loans held for sale, at lower of cost or fair value, totaled $82.2 million as of December 31, 2015. The Company did not have any multi-family loans held for sale as of December 31, 2016. The Company sold approximately $234 million and $204 million in multifamily loans during 2016 and 2015. The loans sold in 2016 include both loan participations and whole loan sales, compared to 2015, where the Company sold loan participations. Gain on sale of whole loans sold in 2016 totaled approximately $1.2 million and none of the loans were sold at a loss. During 2016, the Company transferred $30.1 million of loans from held for sale back to the loan portfolio. These loans were transferred at lower of cost or fair value. No loss was recognized on the transfer. In June of 2014, the Company sold $67 million of longer-duration, lower-coupon residential first mortgage loans as part of its strategy to de-emphasize residential first mortgage lending, while benefitting its liquidity and interest rate risk positions. Income for the twelve months ended December 31, 2014, included the gain on sale of $166 thousand. The Company, through the Bank, may extend credit to officers, directors or their associates. These loans are subject to the Company’s normal lending policy and Federal Reserve Bank Regulation O. The following table shows the changes in loans to officers, directors or their associates: (In thousands) 2016 2015 Balance, beginning of year $ 4,280 $ 4,518 New loans 1,329 1,747 Repayments (697 ) (1,985 ) Loans with individuals no longer considered related parties (124 ) — Balance, at end of year $ 4,788 $ 4,280 The following tables present the loan balances by portfolio segment, based on impairment method, and the corresponding balances in the allowance for loan losses as of December 31, 2016 and 2015: December 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 ALLL Primary residential mortgage $ 15,814 $ 456 $ 542,156 $ 3,210 $ 557,970 $ 3,666 Home equity lines of credit 53 — 65,630 233 65,683 233 Junior lien loan on residence 229 — 8,977 16 9,206 16 Multifamily property — — 1,459,594 11,192 1,459,594 11,192 Owner-occupied commercial real estate 1,486 — 174,637 1,774 176,123 1,774 Investment commercial real estate 11,335 214 740,923 10,695 752,258 10,909 Commercial and industrial 154 154 213,829 4,010 213,983 4,164 Secured by farmland and agricultural production — — 169 2 169 2 Commercial construction — — 1,497 9 1,497 9 Consumer and other — — 73,621 243 73,621 243 Total ALLL $ 29,071 $ 824 $ 3,281,033 $ 31,384 $ 3,310,104 $ 32,208 December 31, 2015 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 9,752 $ 291 $ 473,333 $ 2,006 $ 483,085 $ 2,297 Home equity lines of credit 254 — 52,550 86 52,804 86 Junior lien loan on residence 176 — 11,327 66 11,503 66 Multifamily property — — 1,416,775 11,813 1,416,775 11,813 Owner-occupied commercial real estate 1,272 — 175,004 1,679 176,276 1,679 Investment commercial real estate 11,482 61 557,367 7,529 568,849 7,590 Commercial and industrial 171 138 154,124 2,071 154,295 2,209 Secured by farmland and agricultural production — — 179 2 179 2 Commercial construction — — 151 2 151 2 Consumer and other — — 47,635 112 47,635 112 Total ALLL $ 23,107 $ 490 $ 2,888,445 $ 25,366 $ 2,911,552 $ 25,856 Impaired loans include nonaccrual loans of $11.3 million at December 31, 2016 and $6.7 million at December 31, 2015. Impaired loans also include performing troubled debt restructured loans of $17.8 million at December 31, 2016 and $16.2 million at December 31, 2015. At December 31, 2016, the allowance allocated to troubled debt restructured loans totaled $550 thousand of which $314 thousand was allocated to nonaccrual loans. At December 31, 2015, the allowance allocated to troubled debt restructured loans totaled $441 thousand of which $162 thousand was allocated to nonaccrual loans. All accruing troubled debt restructured loans were paying in accordance with restructured terms as of December 31, 2016. The Company has not committed to lend additional amounts as of December 31, 2016 to customers with outstanding loans that are classified as loan restructurings. The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2016 and 2015: December 31, 2016 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 16,015 $ 14,090 $ — $ 10,038 Owner-occupied commercial real estate 1,597 1,486 — 1,450 Investment commercial real estate 9,711 9,711 — 9,974 Home equity lines of credit 56 53 — 143 Junior lien loan on residence 280 229 — 339 Total loans with no related allowance $ 27,659 $ 25,569 $ — $ 21,944 With related allowance recorded: Primary residential mortgage $ 1,787 $ 1,724 $ 456 $ 1,678 Investment commercial real estate 1,640 1,624 214 1,642 Commercial and industrial 204 154 154 145 Total loans with related allowance $ 3,631 $ 3,502 $ 824 $ 3,465 Total loans individually evaluated for impairment $ 31,290 $ 29,071 $ 824 $ 25,409 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 during 2016, 2015 and 2014 was not material. The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2016 and 2015: December 31, 2016 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 9,071 $ — Home equity lines of credit 30 — Junior lien loan on residence 115 — Owner-occupied commercial real estate 1,486 — Investment commercial real estate 408 — Commercial and industrial 154 — Consumer and other — — Total $ 11,264 $ — 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 recorded investment in past due loans as of December 31, 2016 and 2015 by class of loans, excluding nonaccrual loans: December 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 $ 620 $ 480 $ — $ 1,100 Junior lien loan on residence — 25 — 25 Owner-occupied commercial real estate 209 — — 209 Commercial and industrial 22 — — 22 Total $ 851 $ 505 $ — $ 1,356 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 then annually based on set criteria in the loan policy. In addition, the Bank has engaged an independent loan review firm to validate risk ratings and to ensure compliance with our policies and procedures. This review is performed in quarterly installments. The sample methodology is shown below: · All loans over $5,000,000; · All loans in a relationship will be covered at the same time; · All loans with a risk rating of criticized or classified; · All nonaccrual loans not criticized or classified; · All loans that are 60 days or more past due as of the review date; · A sample of loans over $500,000 with weighting by exposure; · On a random sampling basis for loans under $500,000; and · Whenever Management otherwise identifies a positive or negative trend or issue relating to a borrower. The Company uses the following regulatory definitions for criticized and classified risk ratings: Special Mention: Substandard: Doubtful: Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-rated loans. The table below presents, based on the most recent analysis performed, the risk category of loans by class of loans for December 31, 2016 and 2015. December 31, 2016 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 541,359 $ 660 $ 15,951 $ — Home equity lines of credit 65,630 — 53 — Junior lien loan on residence 8,977 — 229 — Multifamily property 1,456,328 2,867 399 — Owner-occupied commercial real estate 170,851 — 5,272 — Investment commercial real estate 724,203 5,116 22,939 — Commercial and industrial 208,617 4,411 955 — Secured by farmland and agricultural 169 — — — Commercial construction 1,400 97 — — Consumer and other loans 73,621 — — — Total $ 3,251,155 $ 13,151 $ 45,798 $ — December 31, 2015 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 471,859 $ 1,332 $ 9,894 $ — Home equity lines of credit 52,550 — 254 — Junior lien loan on residence 11,327 — 176 — Multifamily property 1,407,856 7,718 1,201 — Owner-occupied commercial real estate 170,420 928 4,928 — Investment commercial real estate 536,479 6,217 26,153 — Commercial and industrial 148,940 5,184 171 — Secured by farmland and agricultural 179 — — — Commercial construction — 151 — — Consumer and other loans 47,635 — — — Total $ 2,847,245 $ 21,530 $ 42,777 $ — At December 31, 2016, $27.9 million of substandard loans were also considered impaired as compared to December 31, 2015, when $21.8 million of the special mention and the substandard loans were also considered impaired. The tables below present a roll forward of the allowance for loan losses for the years ended December 31, 2016, 2015 and 2014. January 1, December 31, 2016 2016 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,297 $ (1,047 ) $ 28 $ 2,388 $ 3,666 Home equity lines of credit 86 (91 ) 15 223 233 Junior lien loan on residence 66 — 140 (190 ) 16 Multifamily property 11,813 — — (621 ) 11,192 Owner-occupied commercial real estate 1,679 (11 ) 72 34 1,774 Investment commercial real estate 7,590 (520 ) 246 3,593 10,909 Commercial and industrial 2,209 (16 ) 29 1,942 4,164 Secured by farmland and agricultural 2 — — — 2 Commercial construction 2 — — 7 9 Consumer and other 112 (5 ) 12 124 243 Total ALLL $ 25,856 $ (1,690 ) $ 542 $ 7,500 $ 32,208 January 1, December 31, 2015 2015 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,923 $ (638 ) $ 80 $ (68 ) $ 2,297 Home equity lines of credit 156 (210 ) 2 138 86 Junior lien loan on residence 109 (13 ) 62 (92 ) 66 Multifamily property 8,983 — — 2,830 11,813 Owner-occupied commercial real estate 1,547 — 11 121 1,679 Investment commercial real estate 4,751 (16 ) 18 2,837 7,590 Commercial and industrial 880 (73 ) 81 1,321 2,209 Secured by farmland and agricultural 4 — — (2 ) 2 Commercial construction 31 — — (29 ) 2 Consumer and other 96 (41 ) 13 44 112 Total ALLL $ 19,480 $ (991 ) $ 267 $ 7,100 $ 25,856 January 1, December 31, 2014 2014 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,361 $ (273 ) $ 1 $ 834 $ 2,923 Home equity lines of credit 181 — — (25 ) 156 Junior lien loan on residence 156 (1 ) 103 (149 ) 109 Multifamily property 4,003 — — 4,980 8,983 Owner-occupied commercial real estate 2,563 (669 ) 106 (453 ) 1,547 Investment commercial real estate 5,083 — 18 (350 ) 4,751 Commercial and industrial 825 (123 ) 85 93 880 Secured by farmland and agricultural 3 — — 1 4 Commercial construction 120 — — (89 ) 31 Consumer and other 78 (22 ) 7 33 96 Total ALLL $ 15,373 $ (1,088 ) $ 320 $ 4,875 $ 19,480 Troubled Debt Restructurings: During the period ended December 31, 2016, 2015 and 2014, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; or an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk. The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2016: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 7 $ 4,691 $ 4,691 Junior Lien loan on residence 1 63 63 Commercial and industrial 1 26 26 Total 9 $ 4,780 $ 4,780 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2015: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 11 $ 3,296 $ 3,296 Junior Lien loan on residence 1 58 58 Investment commercial real estate 1 750 750 Total 13 $ 4,104 $ 4,104 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2014: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 8 $ 2,138 $ 2,138 Investment commercial real estate 1 1,281 1,281 Total 9 $ 3,419 $ 3,419 The identification of the troubled debt restructured loans did not have a significant impact on the allowance for loan losses. In addition, there were no charge-offs as a result of the classification of these loans as troubled debt restructuring during the years ended December 31, 2016, 2015 and 2014. The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2016 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 1 $ 269 Total 1 $ 269 There were no payment defaults on loans modified as troubled debt restructurings within twelve months of modification during the year ending December 31, 2015 and 2014. The defaults described above did not have a material impact on the allowance for loan losses during 2016, 2015 and 2014. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. The modification of the terms of such loans may include one or more of the following: (1) a reduction of the stated interest rate of the loan to a rate that is lower than the current market rate for new debt with similar risk; (2) an extension of an interest only period for a predetermined period of time; (3) an extension of the maturity date; or (4) an extension of the amortization period over which future payments will be computed. At the time a loan is restructured, the Bank performs a full re-underwriting analysis, which includes, at a minimum, obtaining current financial statements and tax returns, copies of all leases, and an updated independent appraisal of the property. A loan will continue to accrue interest if it can be reasonably determined that the borrower should be able to perform under the modified terms, that the loan has not been chronically delinquent (both to debt service and real estate taxes) or in nonaccrual status since its inception, and that there have been no charge-offs on the loan. Restructured loans with previous charge-offs would not accrue interest at the time of the troubled debt restructuring. At a minimum, six months of contractual payments would need to be made on a restructured loan before returning it to accrual status. Once a loan is classified as a TDR, the loan is reported as a TDR until the loan is paid in full, sold or charged-off. In rare circumstances, a loan may be removed from TDR status, if it meets the requirements of ASC 310-40-50-2.

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	4. PREMISES AND EQUIPMENT The following table presents premises and equipment as of December 31, (In thousands) 2016 2015 Land and land improvements $ 6,160 $ 4,942 Buildings 11,982 11,970 Furniture and equipment 17,572 16,857 Leasehold improvements 11,138 10,423 Projects in progress 1,415 919 Capital lease asset 11,237 11,237 59,504 56,348 Less: accumulated depreciation 29,133 26,102 Total $ 30,371 $ 30,246 The Company has included leases in premises and equipment as follows: (In thousands) 2016 2015 Land and buildings $ 11,237 $ 11,237 Less: accumulated depreciation 3,915 3,167 Total $ 7,322 $ 8,070 Projects in progress represents costs associated with renovations to the Company’s headquarters in addition to smaller renovation or equipment installation projects at other locations. The Company recorded depreciation expense of $3.1 million, $3.9 million and $3.0 million for the years ended December 31, 2016, 2015 and 2014, respectively. The Company leases its corporate headquarters building under a capital lease and in 2014, leased additional space in the building. The lease arrangement requires monthly payments through 2025. Related depreciation expense and accumulated depreciation of $607 thousand, $607 thousand and $531 thousand is included in the results of 2016, 2015 and 2014, respectively. The Company also leases its Gladstone branch after completing a sale-leaseback transaction involving the property in 2011. The lease arrangement requires monthly payments through 2031. The gain on the sale of $764 thousand was deferred and will be accreted to income over the life of the lease. Related depreciation expense and accumulated depreciation of $141 thousand is included in each of the 2016, 2015 and 2014 results. The following is a schedule by year of future minimum lease payments under capitalized leases, together with the present value of net minimum lease payments as of December 31, 2016: (In thousands) 2017 $ 1,081 2018 1,127 2019 1,146 2020 1,195 2021 1,232 Thereafter 6,587 Total minimum lease payments 12,368 Less: amount representing interest 2,675 Present value of net minimum lease payments $ 9,693 In the fourth quarter of 2015, the Company closed two retail branch offices. As a result of the closures, the Company recorded additional expense of $2.5 million, which includes accelerated depreciation of $723 thousand. The acceleration of depreciation expense is included with premises and equipment expense and lease related expenses are included with other operating expense on the Consolidated Statements of Income.

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	12 Months Ended
	Dec. 31, 2016
Other Real Estate [Abstract]
OTHER REAL ESTATE OWNED	5. OTHER REAL ESTATE OWNED At December 31, 2016 and 2015, the Company had other real estate owned, net of valuation allowances, totaling $534 thousand and $563 thousand, respectively. The following table shows the activity in other real estate owned, excluding the valuation allowance, for the years ended December 31, (In thousands) 2016 2015 Balance, beginning of year $ 3,233 $ 3,744 OREO properties added 534 233 Sales during year (3,233 ) (744 ) Balance, end of year $ 534 $ 3,233 The following table shows the activity in the valuation allowance for the years ended December 31, (In thousands) 2016 2015 2014 Balance, beginning of year $ 2,670 $ 2,420 $ 2,020 Additions charged to expense — 250 400 Direct writedowns (2,670 ) — — Balance, end of year $ — $ 2,670 $ 2,420 The following table shows expenses related to other real estate owned for the years ended December 31, (In thousands) 2016 2015 2014 Net gain on sales $ (5 ) $ — $ (139 ) Provision for unrealized losses — 250 400 Operating expenses, net of rental income 59 51 179 Total $ 54 $ 301 $ 440

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2016
Deposits [Abstract]
DEPOSITS	6. DEPOSITS Time deposits over $250,000 totaled $118.7 million and $115.6 million at December 31, 2016 and 2015, respectively. The following table sets forth the details of total deposits as of December 31, 2016 2015 (Dollars in thousands) Noninterest-bearing demand deposits $ 489,485 14.35 % $ 419,887 14.30 % Interest-bearing checking 1,023,081 29.99 861,697 29.36 Savings 120,056 3.52 115,007 3.92 Money market 1,048,494 30.73 810,709 27.62 Certificates of deposit 457,000 13.39 434,450 14.80 Interest-bearing demand - Brokered 180,000 5.27 200,000 6.81 Certificates of deposit - Brokered 93,721 2.75 93,720 3.19 Total deposits $ 3,411,837 100.00 % $ 2,935,470 100.00 % The scheduled maturities of time deposits as of December 31, 2016 are as follows: (In thousands) 2017 $ 152,113 2018 203,630 2019 71,084 2020 34,420 2021 18,539 Over 5 Years 70,935 Total $ 550,721

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	7. FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS Advances from FHLB totaled $61.8 million at December 31, 2016, with a weighted average interest rate of 2.02 percent. Advances from FHLB totaled $83.7 million at December 31, 2015, with a weighted average interest rate of 1.78 percent. At December 31, 2016 advances totaling $49.8 million with a weighted average rate of 1.78 percent, have fixed maturity dates. At December 31, 2015 advances totaling $71.7 million with a weighted average rate of 1.57 percent, have fixed maturity dates. At December 31, 2016 the fixed rate advances are secured by blanket pledges of certain 1-4 family residential mortgages totaling $468.3 million and multifamily mortgages totaling $1.2 billion, while at December 31, 2015 the fixed rate advances are secured by blanket pledges of certain 1-4 family residential mortgages totaling $428.2 million and multifamily totaling $1.1 billion. At both December 31, 2016 and December 31, 2015, the Company had $12.0 million in variable rate advances, with a weighted average rate of 3.01 percent, that are noncallable for two or three years and then callable quarterly with final maturities of ten years from the original date of the advance. All of these advances are beyond their initial noncallable periods. These advances are secured by pledges of investment securities totaling $14.6 million at December 31, 2016 and $13.2 million at December 31, 2015. The advances have prepayment penalties. The scheduled principal repayments and maturities of advances as of December 31, 2016 are as follows: (In thousands) 2017 $ 23,897 2018 34,898 2019 3,000 2020 — 2021 — Over 5 years — Total $ 61,795 At December 31, 2016 there were no overnight borrowings with the FHLB and at December 31, 2015 there were overnight borrowings with the FHLB of $40.7 million with a weighted average rate of 0.52 percent. At December 31, 2016, unused short-term or overnight borrowing commitments totaled $1.1 billion from the FHLB, $22.0 million from correspondent banks and $632.0 million at the Federal Reserve Bank.

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE	8. FAIR VALUE Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other that Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing as asset or liability. The Company used the following methods and significant assumptions to estimate the fair value: Investment Securities: Loans Held for Sale, at Fair Value: Derivatives Impaired Loans: Other Real Estate Owned: Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by Management. Once received, a member of the Credit Department reviews the assumptions and approaches utilized in the appraisal, as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Appraisals on collateral dependent impaired loans and other real estate owned (consistent for all loan types) are obtained on an annual basis, unless a significant change in the market or other factors warrants a more frequent appraisal. On an annual basis, Management compares the actual selling price of any collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value for other properties. The most recent analysis performed indicated that a discount up to 15 percent should be applied to appraisals on properties. The discount is determined based on the nature of the underlying properties, aging of appraisal and other factors. For each collateral-dependent impaired loan we consider other factors, such as certain indices or other market information, as well as property specific circumstances to determine if an adjustment to the appraised value is needed. In situations where there is evidence of change in value, the Bank will determine if there is need for an adjustment to the specific reserve on the collateral dependent impaired loans. When the Bank applies an interim adjustment, it generally shows the adjustment as an incremental specific reserve against the loan until it has received the full updated appraisal. As of December 31, 2016, all collateral-dependent impaired loans and other real estate owned valuations were supported by an appraisal less than 12 months old. The following table summarizes, for the periods indicated, assets measured at fair value on a recurring basis, including financial assets for which the Company has elected the fair value option: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2016 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: U.S. government-sponsored agencies $ 21,517 $ — $ 21,517 $ — Mortgage-backed securities-residential 237,617 — 237,617 — SBA pool securities 6,713 — 6,713 — State and political subdivisions 28,993 — 28,993 — Corporate bond 3,113 — 3,113 Single-issuer trust preferred security 2,610 — 2,610 — CRA investment fund 4,825 4,825 — — Loans held for sale, at fair value 1,200 — 1,200 — Derivatives: Cash flow hedges 123 — 123 — Loan level swaps 1,543 — 1,543 — Total $ 308,254 $ 4,825 $ 303,429 $ — Liabilities: Derivatives: Cash flow hedges (867 ) — (867 ) — Loan level swaps (1,543 ) — (1,543 ) — Total $ (2,410 ) $ — $ (2,410 ) $ — (In thousands) December 31, 2015 Assets: Securities available for sale: Mortgage-backed securities-residential $ 160,607 $ — $ 160,607 $ — SBA pool securities 7,520 — 7,520 — State and political subdivisions 22,029 — 22,029 — Single-issuer trust preferred security 2,535 — 2,535 — CRA investment fund 2,939 2,939 — — Loans held for sale, at fair value 1,558 — 1,558 — Derivatives: Cash flow hedges 104 — 104 — Loan level swaps 1,106 — 1,106 — Total $ 198,398 $ 2,939 $ 195,459 $ — Liabilities: Derivatives: Cash flow hedges (1,434 ) — (1,434 ) — Loan level swaps (1,106 ) — (1,106 ) — Total $ (2,540 ) $ — $ (2,540 ) $ — The Company has elected the fair value option for loans held for sale. These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of these loans are 90 days or more past due or on nonaccrual as of December 31, 2016 and December 31, 2015. The following tables present residential loans held for sale, at fair value for the periods indicated: December 31, 2016 December 31, 2015 Residential loans contractual balance $ 1,181 $ 1,536 Fair value adjustment 19 22 Total fair value of residential loans held for sale $ 1,200 $ 1,558 There were no transfers between Level 1 and Level 2 during the year ended December 31, 2016. The following table summarizes, for the periods indicated, assets measured at fair value on a non-recurring basis: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2016 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Investment commercial real estate $ 245 $ — $ — $ 245 (In thousands) December 31, 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 $408 thousand, with a valuation allowance of $163 thousand at December 31, 2016. Impaired loans that are measured for impairment using the fair value of the collateral for collateral dependent loans, had a recorded investment of $299 thousand, with a valuation allowance of $48 thousand at December 31, 2015. At December 31, 2015, OREO at fair value represents one commercial property. The Company recorded a valuation allowance of $250 thousand during 2015. The carrying amounts and estimated fair values of financial instruments at December 31, 2016 are as follows: Fair Value Measurements at December 31, 2016 Using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 162,691 $ 162,691 $ — $ — $ 162,691 Securities available for sale 305,388 4,825 300,563 — 305,388 FHLB and FRB stock 13,813 — — — N/A Loans held for sale, at fair value 1,200 — 1,200 — 1,200 Loans held for sale, at lower of cost or fair value 388 — 428 — 428 Loans, net of allowance for loan losses 3,279,936 — — 3,256,837 3,256,837 Accrued interest receivable 8,153 — 899 7,254 8,153 Cash flow hedges 123 — 123 — 123 Loan level swaps 1,543 — 1,543 — 1,543 Financial liabilities Deposits $ 3,411,837 $ 2,861,116 $ 549,332 $ — $ 3,410,448 Federal Home Loan Bank advances 61,795 — 62,286 — 62,286 Subordinated debt 48,764 — — 48,768 48,768 Accrued interest payable 1,127 161 966 — 1,127 Cash flow hedges 867 — 867 — 867 Loan level swaps 1,543 — 1,543 — 1,543 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: Subordinated debentures: Accrued interest receivable/payable: Off-balance sheet instruments:

OTHER OPERATING EXPENSES

OTHER OPERATING EXPENSES	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
OTHER OPERATING EXPENSES	9. OTHER OPERATING EXPENSES The following table presents the major components of other operating expenses for the years ended December 31, (In thousands) 2016 2015 2014 Professional and legal fees $ 3,459 $ 2,747 $ 1,873 FDIC insurance 4,758 2,154 1,381 Wealth Division other expense 2,029 2,147 1,896 Branch Restructure (Note 4) — 1,735 — Telephone 976 942 914 Advertising 824 637 594 Loan expense 715 426 532 Provision for ORE losses — 250 400 Intangible amortization 123 82 — Other operating expenses 5,980 5,959 5,746 Total other operating expenses $ 18,864 $ 17,079 $ 13,336

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	10. INCOME TAXES The income tax expense included in the consolidated financial statements for the years ended December 31, is allocated as follows: (In thousands) 2016 2015 2014 Federal: Current expense/(benefit) $ 13,207 $ 13,035 $ 10,251 Deferred expense/(benefit) 486 (3,210 ) (2,626 ) State: Current expense/(benefit) 2,105 3,176 625 Deferred expense/(benefit) 466 (833 ) 1,146 Total income tax expense $ 16,264 $ 12,168 $ 9,396 Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 35 percent to income before taxes as a result of the following: (In thousands) 2016 2015 2014 Computed “expected” tax expense $ 14,959 $ 11,249 $ 8,500 (Decrease)/increase in taxes resulting from: Tax-exempt income (496 ) (316 ) (152 ) State income taxes 1,671 1,523 1,102 Bank owned life insurance income (195 ) (279 ) (152 ) Interest disallowance 95 40 9 Meals and entertainment expense 77 69 69 Stock-based compensation 15 86 60 Rate adjustment — (70 ) — Other 138 (134 ) (40 ) Total income tax expense $ 16,264 $ 12,168 $ 9,396 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31 are as follows: (In thousands) 2016 2015 Deferred tax assets: Allowance for loan losses $ 12,969 $ 10,437 Valuation allowance for OREO losses — 1,084 Federal and state net operating loss carryforward — 6 Lease adjustment 89 122 Post-retirement benefits 443 445 Prepaid alternative minimum assessment 283 283 Contribution limitation 235 237 Charitable contribution carryforward — 32 Organization costs 22 24 Cash flow hedge 304 544 Unrealized loss on securities available for sale 668 — Stock option expense 387 414 Nonaccrual interest 25 127 Accrued compensation 1,993 3,349 Capital leases 1,075 1,407 Total gross deferred tax assets $ 18,493 $ 18,511 Deferred tax liabilities: Bank premises and equipment, principally due to differences in depreciation $ 800 $ 767 Unrealized gain on securities available for sale — 262 Deferred loan origination costs and fees 1,535 1,114 Deferred income 790 721 Investment securities, principally due to the accretion of bond discount 4 29 Other 44 36 Total gross deferred tax liabilities 3,173 2,929 Net deferred tax asset $ 15,320 $ 15,582 Based upon taxes paid and projected future taxable income, Management believes that it is more likely than not that the gross deferred tax assets will be realized. At December 31, 2016 and 2015, the Company had no unrecognized tax benefits. The Company does not expect the amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. The Company is subject to U.S. Federal income tax as well as income tax of various state jurisdictions. The Company is no longer subject to federal examination for tax years prior to 2013. The tax years of 2013, 2014 and 2015 remains open to federal examination. The Company is no longer subject to state and local examinations by tax authorities for tax years prior to 2012. The tax years of 2012, 2013, 2014 and 2015 remain open for state examination.

BENEFIT PLANS

BENEFIT PLANS	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
BENEFIT PLANS	11. BENEFIT PLANS The Company sponsors a profit sharing plan and a savings plan under Section 401(K) of the Internal Revenue Code, covering substantially all salaried employees over the age of 21 with at least 12 months of service. Under the savings plan, the Company contributes three percent of salary for each employee regardless of the employees’ contributions as well as partially matching employee contributions. Expense for the savings plan totaled approximately $1.6 million, $1.6 million and $1.4 million in 2016, 2015 and 2014, respectively. Contributions to the profit sharing plan are made at the discretion of the Board of Directors and all funds are invested solely in Peapack-Gladstone Financial Corporation common stock. The Company did not contribute to the profit sharing plan in 2016, 2015 or 2014.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	12. STOCK-BASED COMPENSATION The Company’s 2006 Long-Term Stock Incentive Plan and 2012 Long-Term Stock Incentive Plan allow the granting of shares of the Company’s common stock as incentive stock options, nonqualified stock options, restricted stock awards, restricted stock units and stock appreciation rights to directors, officers and employees of the Company and its subsidiaries. As of December 31, 2016 the total number of shares available for grant in all active plans was 1,442,381. There are no shares remaining for issuance with respect to stock option plans approved in 1995, 1998 and 2002; however, options granted under those plans are still included in the numbers below. Options granted under the long-term stock incentive plans are, in general, exercisable not earlier than one year after the date of grant, at a price equal to the fair value of the common stock on the date of grant, and expire not more than ten years after the date of grant. Stock options may vest during a period of up to five years after the date of grant. Some options granted to officers at or above the senior vice president level were immediately exercisable at the date of grant. The Company has a policy of using new shares to satisfy option exercises. Changes in options outstanding during 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 (70,527 ) 18.94 Expired during 2016 (16,729 ) 21.31 Forfeited during 2016 (874 ) 13.51 Balance, December 31, 2016 179,159 $ 16.27 3.77 years $ 2,618 Vested and expected to vest (1) 178,663 $ 16.31 3.77 years $ 2,603 Exercisable at December 31, 2016 170,896 $ 16.41 3.68 years $ 2,472 (1) The difference between the shares which are exercisable (fully vested) and those which are expected to vest is due to anticipated forfeitures. The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the last trading day of 2016 and the exercise price, multiplied by the number of in-the-money options). The Company’s closing stock price on December 31, 2016 was $30.88. There were no stock options granted during 2016. The per share weighted average fair value of stock options granted during 2014 was $7.50, on the date of grant using the Black-Scholes Option-Pricing Model with the following weighted average assumptions: 2014 Dividend yield 1.02 % Expected volatility 40 % Expected life 7 Years Risk-free interest rate 2.18 % As of December 31, 2016, there was approximately $5 thousand of unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Company’s stock incentive plans. That cost is expected to be recognized over a weighted average period of 0.34 years. The Company issued stock awards/units in 2016, 2015 and 2014. The stock awards were either service based awards or performance based awards. The service based awards vest ratably over a three or five year period. The performance based awards that were granted in prior 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 for the 2014 and 2015 grants will no longer be met and therefore, reversed approximately $592 thousand of previously recorded expense for the performance awards. Total unrecognized compensation expense for performance based awards is $1.7 million as of December 31, 2016. The Company does not expect the performance based awards to vest. As of December 31, 2016, there was $4.6 million of total unrecognized compensation cost related to nonvested shares, which is expected to vest over 1.5 years. Total stock-based compensation expense recognized for stock awards totaled $2.8 million, $1.5 million and $1.5 million in 2016, 2015 and 2014, respectively, while total stock-based compensation expense recognized for stock options was $56 thousand, $219 thousand and $234 thousand for 2016, 2015 and 2014, respectively. Changes in nonvested shares dependent on performance criteria for 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, December 31, 2016 92,767 $ 18.12 Changes in nonvested shares/units not dependent on performance criteria for 2016 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2016 321,421 $ 19.44 Granted during 2016 188,397 16.99 Vested during 2016 (118,343 ) 19.05 Forfeited during 2016 (23,345 ) 18.75 Balance, December 31, 2016 368,130 $ 19.26

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	13. COMMITMENTS AND CONTINGENCIES The Company, in the ordinary course of business, is a party to litigation arising from the conduct of its business. Management does not consider that these actions depart from routine legal proceedings and believes that such actions will not affect its financial position or results of its operations in any material manner. There are various outstanding commitments and contingencies, such as guarantees and credit extensions, including mostly variable-rate loan commitments of $434.4 million and $282.1 million at December 31, 2016 and 2015, respectively, which are not included in the accompanying consolidated financial statements. These commitments include unused commercial and home equity lines of credit. The Company issues financial standby letters of credit that are irrevocable undertakings by the Company to guarantee payment of a specified financial obligation. Most of the Company’s financial standby letters of credit arise in connection with lending relations and have terms of one year or less. The maximum potential future payments the Company could be required to make equals the contract amount of the standby letters of credit and amounted to $12.8 million and $10.4 million at December 31, 2016 and 2015, respectively. The fair value of the Company’s liability for financial standby letters of credit was insignificant at December 31, 2016. For commitments to originate loans, the Company’s maximum exposure to credit risk is represented by the contractual amount of those instruments. Those commitments represent ultimate exposure to credit risk only to the extent that they are subsequently drawn upon by customers. The Company uses the same credit policies and underwriting standards in making loan commitments as it does for on-balance-sheet instruments. For loan commitments, the Company would generally be exposed to interest rate risk from the time a commitment is issued with a defined contractual interest rate. At December 31, 2016, the Company was obligated under non-cancelable operating leases for certain premises. Rental expense aggregated $2.4 million, $2.6 million and $2.5 million for the years ended December 31, 2016, 2015 and 2014 respectively, which is included in premises and equipment expense in the consolidated statements of income. The minimum annual lease payments under the terms of the operating lease agreements, as of December 31, 2016, were as follows: (In thousands) 2017 $ 1,821 2018 1,670 2019 1,364 2020 1,358 2021 1,155 Thereafter 1,953 Total $ 9,321 The Company is also obligated under legally binding and enforceable agreements to purchase goods and services from third parties, including data processing service agreements.

REGULATORY CAPITAL

REGULATORY CAPITAL	12 Months Ended
	Dec. 31, 2016
REGULATORY CAPITAL [Abstract]
REGULATORY CAPITAL	14. REGULATORY CAPITAL Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet minimum capital requirements can initiate certain mandatory – and possibly additional discretionary – actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements and results of operations. The final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (Basel III rules) became effective for the Company on January 1, 2015 with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in by January 1, 2019. The Company has chosen to exclude net unrealized gain or loss on available for sale securities in computing regulatory capital. Management believes that as of December 31, 2016, the Company and Bank meet all capital adequacy requirements to which they are subject. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. Adequately capitalized institutions must obtain prior regulatory approval to accept brokered deposits. The federal banking agencies are required to take certain supervisory actions (and may take additional discretionary actions) with respect to an undercapitalized institution or its holding company. If an institution is classified as undercapitalized, it is required to submit a capital restoration plan to its federal banking regulators and is prohibited from increasing its assets, engaging in a new line of business, acquiring any interest in any company or insured depository institution, or opening or acquiring a new branch office, except under certain circumstances, including the acceptance by the federal banking regulators of a capital restoration plan for the institution. Furthermore, if an institution is classified as undercapitalized, the federal banking regulators may take certain actions to correct the capital position of the institution. If an institution is classified as significantly undercapitalized or critically undercapitalized, the federal banking regulators would be required to take one or more prompt corrective actions. These actions would include, among other things, requiring sales of new securities to bolster capital, improvements in management, limits on interest rates paid, prohibitions on transactions with affiliates, termination of certain risky activities and restrictions on compensation paid to executive officers. If a bank is classified as critically undercapitalized, the bank must be placed into conservatorship or receivership within 90 days, unless the federal banking regulators determined that other action would better achieve the purposes of the prompt corrective action regime. Any of the foregoing regulatory actions could have a direct material effect on an institution’s or its holding company’s financial statements. At December 31, 2016 and 2015, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that Management believes have changed the Company’s category. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier I risk-based, common equity Tier 1 and Tier I leverage ratios as set forth in the table. The Bank’s actual capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016: Total capital (to risk-weighted assets) $ 392,305 12.87 % $ 304,758 10.00 % $ 243,806 8.00 % $ 262,854 8.625 % Tier I capital (to risk-weighted assets) 360,097 11.82 243,806 8.00 182,855 6.00 201,902 6.625 Common equity tier I (to risk-weighted assets) 360,094 11.82 198,093 6.50 137,141 4.50 156,188 5.125 Tier I capital (to average assets) 360,097 9.31 193,430 5.00 154,744 4.00 154,744 4.00 As of December 31, 2015: Total capital (to risk-weighted assets) $ 297,497 11.32 % $ 262,719 10.00 % $ 210,176 8.00 % N/A N/A Tier I capital (to risk-weighted assets) 271,641 10.34 210,176 8.00 157,632 6.00 N/A N/A Common equity tier I (to risk-weighted assets) 271,641 10.34 170,768 6.50 118,224 4.50 N/A N/A Tier I capital (to average assets) 271,641 8.04 169,027 5.00 135,221 4.00 N/A N/A The Company’s actual capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016: Total capital (to risk-weighted assets) $ 404,017 13.25 % N/A N/A $ 243,910 8.00 % $ 262,966 8.625 % Tier I capital (to risk-weighted assets) 323,045 10.60 N/A N/A 182,933 6.00 201,988 6.625 Common equity tier I (to risk-weighted assets) 323,042 10.60 N/A N/A 137,200 4.50 156,255 5.125 Tier I capital (to average assets) 323,045 8.35 N/A N/A 154,788 4.00 154,788 4.00 As of December 31, 2015: Total capital (to risk-weighted assets) $ 299,593 11.40 % N/A N/A $ 210,209 8.00 % N/A N/A Tier I capital (to risk-weighted assets) 273,738 10.42 N/A N/A 157,657 6.00 N/A N/A Common equity tier I (to risk-weighted assets) 273,738 10.42 N/A N/A 118,242 4.50 N/A N/A Tier I capital (to average assets) 273,738 8.10 N/A N/A 135,237 4.00 N/A N/A (A) When fully phased in on January 1, 2019, the Basel Rules will require the Company and the Bank to maintain a 2.5% “capital conservation buffer” on top of the minimum risk-weighted asset ratios. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of (i) CET1 to risk-weighted assets, (ii) Tier 1 capital to risk-weighted assets or (iii) total capital to risk-weighted assets above the respective minimum but below the capital conservation buffer will face constraints on dividends, equity repurchases and discretionary bonus payments to executive officers based on the amount of the shortfall. The implementation of the capital conservation buffer began on January 1, 2016 at the 0.625% level and will increase by 0.625% on each subsequent January 1, until it reaches 2.5% on January 1, 2019.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	15. DERIVATIVES The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements. Interest Rate Swap Designated as Cash Flow Hedge: Information about the interest rate swaps designated as cash flow hedges as of December 31, 2016 and 2015 is presented in the following table: (Dollars in thousands) 2016 2015 Notional amount $ 180,000 $ 180,000 Weighted average pay rate 1.64 % 1.64 % Weighted average receive rate 0.58 % 0.29 % Weighted average maturity 3.25 years 4.25 years Unrealized loss, net $ (744 ) $ (1,330 ) Net Interest expense recorded on these swap transactions totaled approximately $2.0 million and $1.6 million for the twelve months ended December 31, 2016 and 2015, respectively, and is reported as a component of interest expense. Cash Flow Hedge The following table presents the net gains/(losses) recorded in accumulated other comprehensive income and the consolidated financial statements relating to the cash flow derivative instruments for the year ended December 31: 2016 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 $ — $ — 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 $ (1,162 ) $ — $ — The following tables reflect the cash flow hedges included in the financial statements as of December 31, 2016 and 2015: December 31, 2016 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing demand brokered deposits $ 180,000 $ (744 ) Total included in other assets 30,000 123 Total included in other liabilities $ 150,000 $ (867 ) 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) December 31, 2016 December 31, 2015 Notional amount $ 126,810 $ 27,259 Fair value $ 1,543 $ 1,106 Weighted average pay rates 3.75 % 3.06 % Weighted average receive rates 2.65 % 1.44 % Weighted average maturity 9.4 years 15.8 years

SHAREHOLDERS EQUITY

SHAREHOLDERS EQUITY	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
SHAREHOLDERS EQUITY	16. SHAREHOLDERS EQUITY In December 2014, the Company successfully completed the sale of 2,776,215 common shares in its “at-the-market” equity offering program announced on October 23, 2014. The common shares in the offering were sold at a weighted average price of $18.01 per share, representing proceeds to the Company of $48.4 million, net of offering costs of $216 thousand. The Board of Directors authorized the Company to contribute $48.2 million of the proceeds received from the equity offering to the Bank as equity. The Company contributed the cash prior to year-end 2014. In addition, the Dividend Reinvestment Plan of Peapack-Gladstone Financial Corporation, or the Plan, allows shareholders of the Company to purchase additional shares of common stock using cash dividends without payment of any brokerage commissions or other charges. Shareholders may also make voluntary cash payments of up to $200,000 per quarter to purchase additional shares of common stock. The Plan provides that shares may be purchased directly from the Company out of its authorized but unissued or treasury shares, or in the open market. During 2016 and 2015 the shares purchased under the Plan were from authorized but unissued shares. The price of shares purchased under the Plan will be the average price paid for such shares by the Plan’s administrator, Computershare Investor Services. The price to the Plan administrator of shares purchased directly from Peapack-Gladstone with reinvested dividends or voluntary cash payments will be 97 percent of their “fair market value,” as that term is herein defined in the Plan. The three percent discount will continue until terminated or modified by action of the Board of Directors. Total shares issued through the Plan in 2016 totaled 1,137,998 and resulted in additional capital of $22.5 million, of which 1,134,068 shares were issued through the voluntary purchase portion of the Plan. Total shares issued through the Plan in 2015 totaled 665,654 and resulted in additional capital of $13.6 million, of which 661,857 shares were issued through the voluntary purchase portion of the Plan.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
BUSINESS SEGMENTS	17. BUSINESS SEGMENTS The Company assesses its results among two operating segments, Banking and Peapack-Gladstone Bank’s Private Wealth Management Division. Management uses certain methodologies to allocate income and expense to the business segments. A funds transfer pricing methodology is used to assign interest income and interest expense. Certain indirect expenses are allocated to segments. These include support unit expenses such as technology and operations and other support functions. Taxes are allocated to each segment based on the effective rate for the period shown. Banking The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support and sales. Private Wealth Management Division Peapack-Gladstone Bank’s Private Wealth Management Division includes asset management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; corporate trust services including services as trustee for pension and profit sharing plans; and other financial planning and advisory services. The following table presents the statements of income and total assets for the Company’s reportable segments for the twelve months ended December 31, 2016, 2015 and 2014: Twelve Months Ended December 31, 2016 Wealth (In thousands) Banking Management Total Net interest income $ 91,334 $ 5,101 $ 96,435 Noninterest income 10,217 18,701 28,918 Total income 101,551 23,802 125,353 Provision for loan losses 7,500 — 7,500 Compensation and benefits 36,463 8,540 45,003 Premises and equipment expense 10,300 945 11,245 Other noninterest expense 13,523 5,341 18,864 Total noninterest expense 67,786 14,826 82,612 Income before income tax expense 33,765 8,976 42,741 Income tax expense 12,772 3,492 16,264 Net income $ 20,993 $ 5,484 $ 26,477 Total assets at period end $ 3,832,765 $ 45,868 $ 3,878,633 Twelve Months Ended December 31, 2015 Wealth (In thousands) Banking Management Total Net interest income $ 80,190 $ 4,262 $ 84,452 Noninterest income 6,434 17,280 23,714 Total income 86,624 21,542 108,166 Provision for loan losses 7,100 — 7,100 Compensation and benefits 32,133 8,145 40,278 Premises and equipment expense 10,634 935 11,569 Other noninterest expense 12,203 4,876 17,079 Total noninterest expense 62,070 13,956 76,026 Income before income tax expense 24,554 7,586 32,140 Income tax expense 9,217 2,951 12,168 Net income $ 15,337 $ 4,635 $ 19,972 Total assets at period end $ 3,326,219 $ 38,440 $ 3,364,659 Twelve Months Ended December 31, 2014 Wealth (In thousands) Banking Management Total Net interest income $ 64,148 $ 3,746 $ 67,894 Noninterest income 5,336 15,471 20,807 Total income 69,484 19,217 88,701 Provision for loan losses 4,875 — 4,875 Compensation and benefits 28,679 7,562 36,241 Premises and equipment expense 9,207 756 9,963 Other noninterest expense 8,922 4,414 13,336 Total noninterest expense 51,683 12,732 64,415 Income before income tax expense 17,801 6,485 24,286 Income tax expense 6,873 2,523 9,396 Net income $ 10,928 $ 3,962 $ 14,890 Total assets at period end $ 2,676,103 $ 26,294 $ 2,702,397

SUBORDINATED DEBT

SUBORDINATED DEBT	12 Months Ended
	Dec. 31, 2016
Subordinated Debt [Abstract]
SUBORDINATED DEBT	18. SUBORDINATED DEBT During June 2016, the Company issued $50.0 million in aggregate principal amount of fixed-to-floating subordinated notes (the “Notes”) to certain institutional investors. The Notes are non-callable for five years, have a stated maturity of June 30, 2026, and bear interest at a fixed rate of 6.0% per year until June 30, 2021. From June 30, 2021 to the maturity date or early redemption date, the interest rate will reset quarterly to a level equal to the then current three-month LIBOR rate plus 485 basis points, payable quarterly in arrears. Debt issuance costs incurred totaled $1.3 million and are being amortized to maturity. Subordinated debt is presented net of issuance cost on the Consolidated Statements of Condition. The subordinated debt issuance benefited the Company’s regulatory total capital amount and ratio. Approximately $40.0 million of the net proceeds from the sale of the Notes were used by the Company to contribute capital to the Bank in the second quarter of 2016. The remaining funds (approximately $10 million) were retained by the Company and are intended to cover future subordinated debt interest payments. In connection with the issuance of the Notes, the Company obtained ratings from Kroll Bond Rating Agency (“KBRA”). KBRA assigned investment grade rating of BBB- for the Company’s subordinated debt.

ACQUISITION

ACQUISITION	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
ACQUISITION	19. ACQUISITION On May 1, 2015, the Company acquired Wealth Management Consultants. The acquisition is consistent with the Company’s strategy to grow its wealth management business with a focus on high net worth clients. The purchase price was $2.8 million and included cash, common stock and common stock warrants. Acquisition related costs were not material. In accordance with FASB ASC 805-10 (Subtopic 25-15), the Company has up to one year from date of acquisition to complete this assessment. The fair value of the common shares and warrants issued as part of the consideration was determined based on the closing price of the Company’s common shares on the acquisition date. The acquisition resulted in goodwill of $1.0 million and customer relationship and other intangibles of $1.8 million. The following table summarizes the consideration paid and the amounts of the assets acquired. No liabilities were assumed at the acquisition date: Consideration (in thousands) Cash $ 800 Equity Instruments 2,000 Fair value of total consideration transferred $ 2,800 Recognized amounts of identifiable assets acquired Customer relationship intangible $ 1,685 Other intangibles 105 Goodwill 1,010 Total assets acquired $ 2,800 Equity instruments paid as a part of consideration included common stock shares of 47,916 and common stock warrants of 139,860 worth $1 thousand. The per share weighted average fair value of the stock warrants on acquisition date was $7.15. The Company calculated the value using the Black-Scholes Option-Pricing model with the following weighted average assumptions. Dividend yield 0.93 % Expected volatility 33.73 % Expected life 7 Years Risk-free interest rate 1.84 % Goodwill totaled $1.6 million as of December 31, 2016 and 2015. Of the $1.6 million of goodwill, $563 thousand relates to the Banking segment and $1.0 million relates to the Wealth Management segment. Outside of goodwill, the only other intangible with an indefinite life was the assembled workforce intangible asset totaling $49 thousand. The Company conducted its annual impairment analysis and concluded that there is no impairment of goodwill. Acquired intangible assets that have a definite life were as follows at December 31, 2016. Gross Gross Carrying Accumulated (In thousands) Amount Amount Net Amortized intangible assets: Customer relationships $ 1,685 $ 187 $ 1,498 Non-compete agreement 56 19 37 Total $ 1,741 $ 206 $ 1,535 Acquired intangible assets that have a definite life were as follows at December 31, 2015. Gross Gross Carrying Accumulated (In thousands) Amount Amount Net Amortized intangible assets: Customer relationships $ 1,685 $ 75 $ 1,610 Non-compete agreement 56 7 49 Total $ 1,741 $ 82 $ 1,659 Aggregate amortization expense was $124 thousand and $82 thousand for 2016 and 2015, respectively. Estimated amortization expense for each of the next five years is shown in the table below. (In thousands) 2017 $ 123 2018 123 2019 123 2020 116 2021 112 Total $ 597

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME	20. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the years ended December 31, 2016, 2015 and 2014: Amount Other Reclassified Comprehensive Other From Loss/(Gain) Comprehensive Accumulated Twelve Months Balance at Loss/(Gain) Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2015 Reclassifications Loss 2016 2016 Net unrealized holding gain/(loss)on securities available for sale, net of tax $ 408 $ (1,424 ) $ (75 ) $ (1,499 ) $ (1,091 ) Losses on cash flow hedge $ (787 ) $ 347 $ — $ 347 $ (440 ) Accumulated other comprehensive loss, net of tax $ (379 ) $ (1,077 ) $ (75 ) $ (1,152 ) $ (1,531 ) Amount Other Reclassified Comprehensive Other from (Loss) Comprehensive Accumulated Twelve Months Balance at (Loss) Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2014 Reclassifications Income 2015 2015 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ 1,321 $ (602 ) $ (311 ) $ (913 ) $ 408 Losses on cash flow hedge (100 ) $ (687 ) $ — $ (687 ) $ (787 ) Accumulated other comprehensive income/(loss), net of tax $ 1,221 $ (1,289 ) $ (311 ) $ (1,600 ) $ (379 ) Amount Other Reclassified Comprehensive Other from Income Comprehensive Accumulated Twelve Months Balance at Income Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2013 Reclassifications Income 2014 2014 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ 23 $ 1,467 $ (169 ) $ 1,298 $ 1,321 Losses on cash flow hedge $ — $ (100 ) $ — $ (100 ) $ (100 ) Accumulated other comprehensive income/(loss), net of tax $ 23 $ 1,367 $ (169 ) $ 1,198 $ 1,221 The following represents the reclassifications out of accumulated other comprehensive income for the twelve months ended December 31, 2016, 2015 and 2014: Twelve Months Ended December 31, (In thousands) 2016 2015 2014 Affected Line Item in Statements of Income Unrealized gains/(losses) on Realized gain on securities sales, AFS $ 119 $ 527 $ 260 Securities gains, net Income tax expense (44 ) (216 ) (91 ) Income tax expense Total reclassifications, net of tax $ 75 $ 311 $ 169

CONDENSED FINANCIAL STATEMENTS

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY)	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY)	21. CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) STATEMENTS OF CONDITION December 31, (In thousands) 2016 2015 Assets Cash $ 10,330 $ 1,489 Interest-earning deposits 515 515 Total cash and cash equivalents 10,845 2,004 Investment in subsidiary 361,262 273,580 Other assets 1,303 414 Total assets $ 373,410 $ 275,998 Liabilities Subordinated debt $ 48,764 $ — Other liabilities 436 322 Total liabilities 49,200 322 Shareholders’ equity Common stock 14,717 13,717 Surplus 238,708 213,203 Treasury stock (8,988 ) (8,988 ) Retained earnings 81,304 58,123 Accumulated other comprehensive loss (1,531 ) (379 ) Total shareholders’ equity 324,210 275,676 Total liabilities and shareholders’ equity $ 373,410 $ 275,998 STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Years Ended December 31, (In thousands) 2016 2015 2014 Income Dividend from Bank $ — $ — $ — Other income 1 1 1 Total income 1 1 1 Expenses Interest expenses 1,696 — — Other expenses 699 525 637 Total expenses 2,395 525 637 Loss before income tax benefit and equity in undistributed earnings of Bank (2,394 ) (524 ) (636 ) Income tax benefit (835 ) (180 ) (216 ) Net loss before equity in undistributed earnings of Bank (1,559 ) (344 ) (420 ) Equity in undistributed earnings of Bank/(dividends in excess of earnings) 28,036 20,316 15,310 Net income $ 26,477 $ 19,972 $ 14,890 Other comprehensive (loss)/income (1,152 ) (1,600 ) 1,198 Comprehensive income $ 25,325 $ 18,372 $ 16,088 STATEMENTS OF CASH FLOWS Years Ended December 31, (In thousands) 2016 2015 2014 Cash flows from operating activities: Net income $ 26,477 $ 19,972 $ 14,890 Undistributed earnings of Bank (28,036 ) (20,316 ) (15,310 ) Amortization of subordinated debt costs 71 — — (Increase)/decrease in other assets (889 ) (194 ) 427 Increase/(decrease) in other liabilities 114 81 (63 ) Net cash used in operating activities (2,263 ) (457 ) (56 ) Cash flows from investing activities: Capital contribution to subsidiary (57,823 ) (18,000 ) (88,674 ) Net cash used in investing activities (57,823 ) (18,000 ) (88,674 ) Cash flows from financing activities: Cash dividends paid on common stock (3,296 ) (3,100 ) (2,414 ) Exercise of stock options, net of stock swaps 1,069 86 174 Proceeds from issuance of subordinated debt 48,693 Net proceeds, rights offering — — 48,358 Issuance of common shares (DRIP program) 22,461 13,648 7,429 Purchase of shares for Profit Sharing Plan — — 70 Net cash provided by financing activities 68,927 10,634 53,617 Net (decrease)/increase in cash and cash equivalents 8,841 (7,823 ) (35,113 ) Cash and cash equivalents at beginning of period 2,004 9,827 44,940 Cash and cash equivalents at end of period $ 10,845 $ 2,004 $ 9,827

SUPPLEMENTAL DATA (unaudited)

SUPPLEMENTAL DATA (unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
SUPPLEMENTAL DATA (unaudited)	21. SUPPLEMENTAL DATA (unaudited) The following table sets forth certain unaudited quarterly financial data for the periods indicated: Selected 2016 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 27,898 $ 29,035 $ 29,844 $ 30,271 Interest expense 4,488 4,859 5,575 5,691 Net interest income 23,410 24,176 24,269 24,580 Provision for loan losses 1,700 2,200 2,100 1,500 Trust fees 4,295 4,899 4,436 4,610 Securities gains/(losses), net 101 18 — — Other income 1,867 2,531 3,099 3,062 Operating expenses 19,206 18,775 18,166 18,965 Income before income tax expense 8,767 10,649 11,538 11,787 Income tax expense 3,278 4,085 4,422 4,479 Net income $ 5,489 $ 6,564 $ 7,116 $ 7,308 Earnings per share-basic $ 0.35 $ 0.41 $ 0.43 $ 0.44 Earnings per share-diluted 0.34 0.40 0.43 0.43 Selected 2015 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 22,361 $ 23,852 $ 25,806 $ 27,123 Interest expense 2,778 3,508 4,100 4,304 Net interest income 19,583 20,344 21,706 22,819 Provision for loan losses 1,350 2,200 1,600 1,950 Wealth management fee income 4,031 4,532 4,169 4,307 Securities gains/(losses), net 268 176 83 — Other income 1,583 1,791 1,358 1,416 Operating expenses 15,768 16,266 16,899 19,993 Income before income tax expense 8,347 8,377 8,817 6,599 Income tax expense 3,339 3,139 3,434 2,256 Net income $ 5,008 $ 5,238 $ 5,383 $ 4,343 Earnings per share-basic $ 0.34 $ 0.34 $ 0.35 $ 0.28 Earnings per share-diluted 0.33 0.34 0.35 0.28 Selected 2014 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 16,949 $ 18,630 $ 19,210 $ 20,786 Interest expense 1,378 1,707 2,162 2,434 Net interest income 15,571 16,923 17,048 18,352 Provision for loan losses 1,325 1,150 1,150 1,250 Wealth management fee income 3,754 4,005 3,661 3,822 Securities gains/(losses), net 98 79 39 44 Other income 1,143 1,389 1,352 1,421 Operating expenses 14,339 14,930 14,693 15,578 Income before income tax expense 4,902 6,316 6,257 6,811 Income tax expense 1,871 2,533 2,393 2,599 Net income $ 3,031 $ 3,783 $ 3,864 $ 4,212 Earnings per share-basic $ 0.26 $ 0.32 $ 0.33 $ 0.32 Earnings per share-diluted 0.26 0.32 0.32 0.32

SUMMARY OF SIGNIFICANT ACCOUN31

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation and Organization	Principles of Consolidation and Organization: Business:
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation
Segment Information	Segment Information The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support sales. Peapack-Gladstone Bank’s Private Wealth Management Division includes asset management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; corporate trust services including services as trustee for pension and profit sharing plans; and other financial planning and advisory services. This segment also includes the activity from the Delaware subsidiary. Income is recognized as earned.
Cash and Cash Equivalents	Cash and Cash Equivalents:
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. 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. SBA loans originated with the intent to sell in the secondary market are carried at the lower of cost or fair value. SBA loans are generally sold with the servicing rights retained. Gains and losses on the sale of SBA loans are based on the difference between the selling price and the carrying value of the related loan sold. Total SBA loans serviced totaled $5.8 million and $236 thousand as of December 31, 2016 and 2015, respectively. As of December 31, 2016, SBA loans held for sale totaled $388 thousand. There were no SBA loans held for sale as of December 31, 2015. The servicing asset recorded was not material. Loans originated with the intent to hold and subsequently transferred to loans held for sale are carried at the lower of cost or fair value. These are loans that the Company no longer has the intent to hold for the foreseeable future.
Loans	Loans: Loans are considered past due when they are not paid in accordance with contractual terms. The accrual of income on loans, including impaired loans, is discontinued if, in the opinion of Management, principal or interest is not likely to be paid in accordance with the terms of the loan agreement, or when principal or interest is past due 90 days or more and collateral, if any, is insufficient to cover principal and interest. All interest accrued but not received for loans placed on nonaccrual, is reversed against interest income. Payments received on nonaccrual loans are recorded as principal payments. A nonaccrual loan is returned to accrual status only when interest and principal payments are brought current and future payments are reasonably assured, generally when the Bank receives contractual payments for a minimum of six months. Commercial loans are generally charged off after an analysis is completed which indicates that collectability of the full principal balance is in doubt. Consumer loans are generally charged off after they become 120 days past due. Subsequent payments are credited to income only if collection of principal is not in doubt. If principal and interest payments are brought contractually current and future collectability is reasonably assured, loans are returned to accrual status. Nonaccrual mortgage loans are generally charged off when the value of the underlying collateral does not cover the outstanding principal balance. The majority of the Company’s loans are secured by real estate in the State of New Jersey and New York.
Allowance for Loan Losses	Allowance for Loan Losses: The allowance consists of specific and general components. The specific component of the allowance relates to loans that are individually classified as impaired. A loan is impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Factors considered by Management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Loans are individually evaluated for impairment when they are classified as substandard by Management. If a loan is considered impaired, a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral less estimated disposition costs if repayment is expected solely from the collateral. If a residential mortgage is placed on nonaccrual status and is in the process of collection, such as through a foreclosure action, then it is evaluated for impairment on an individual basis and the loan is reported, net, at the fair value of the collateral less estimated disposition costs. A troubled debt restructuring is a modified loan with concessions made by the lender to a borrower who is experiencing financial difficulty. Troubled debt restructurings are impaired and are measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a troubled debt restructuring is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral, less estimated disposition costs. For troubled debt restructurings that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses. The general component of the allowance covers non-impaired loans and is based primarily on the Bank’s historical loss experience adjusted for current factors. The historical loss experience is determined by portfolio segment and is based on the actual loss history experience by the Company on a weighted average basis over the previous three years. This actual loss experience is adjusted by other qualitative factors based on the risks present for each portfolio segment. These economic factors include consideration of the following: levels of and trends in delinquencies and impaired loans; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures and practices; experience, ability and depth of lending management and other relevant staff; national and local economic trends and conditions; industry conditions; and effects of changes in credit concentrations. For loans that are graded as non-impaired, the Company allocates a higher general reserve percentage then pass-rated loans using a multiple that is calculated annually through a migration analysis. At December 31, 2016 and 2015, the multiple was 4.0 times and 5.0 times for non-impaired substandard loans and 2.0 times and 2.5 times for non-impaired special mention loans. 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
Premises and Equipment	Premises and Equipment:
Other Real Estate Owned (OREO)	Other Real Estate Owned (OREO):
Bank Owned Life Insurance (BOLI)	Bank Owned Life Insurance (BOLI):
Loan Commitments and Related Financial Instruments	Loan Commitments and Related Financial Instruments:
Derivatives	Derivatives: Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in non-interest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings.
Income Taxes	Income Taxes: The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in its financial statements or tax returns. The measurement of deferred tax assets and liabilities is based on the enacted tax rates. Such tax assets and liabilities are adjusted for the effect of a change in tax rates in the period of enactment. The Company recognizes a tax position as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50 percent likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company is no longer subject to examination by the U.S. Federal tax authorities for years prior to 2013 or by state and local tax authorities for years prior to 2012. The Company recognizes interest and/or penalties related to income tax matters in income tax expense.
Benefit Plans	Benefit Plans:
Stock-Based Compensation	Stock-Based Compensation:
Employee Stock Purchase Plan	Employee Stock Purchase Plan (“ESPP”):
Earnings per share - Basic and Diluted	Earnings Per Share (“EPS”): The following table shows the calculation of both basic and diluted earnings per share for the years ended December 31, 2016, 2015 and 2014: (In thousands, except share and per share data) 2016 2015 2014 Net income available to common shareholders $ 26,477 $ 19,972 $ 14,890 Basic weighted average shares outstanding 16,318,868 15,187,637 12,065,615 Plus: common stock equivalents 196,130 247,359 106,492 Diluted weighted average shares outstanding 16,514,998 15,434,996 12,172,107 Earnings per share: Basic $ 1.62 $ 1.31 $ 1.23 Diluted 1.60 1.29 1.22 Stock options totaling 2,479, 92,720 and 478,389 shares were not included in the computation of diluted earnings per share in the years ended December 31, 2016, 2015 and 2014, respectively, because they were considered antidilutive.
Loss Contingencies	Loss Contingencies:
Restrictions on cash	Restrictions on Cash:
Comprehensive Income	Comprehensive Income:
Equity	Equity:
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 years.
Reclassification	Reclassification:
New Accounting Policies	New Accounting Policies: In January 2016, the FASB issued ASU 2016-01, Financial Instruments. This guidance amends 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 issued ASU No. 2016-02, Leases (Topic 842). The standard requires a lessee to recognize assets and liabilities on the balance sheet for leases with lease terms greater than 12 months. For lessees, virtually all leases will be required to be recognized on the balance sheet by recording a right-of-use asset and lease liability. Subsequent accounting for leases varies depending on whether the lease is an operating lease or a finance lease. The ASU requires additional qualitative and quantitative disclosures with the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. We are currently evaluating the impact that the standard will have on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting. Under the ASU, an entity recognizes all excess tax benefits and tax deficiencies as income tax expense or benefit in the income statement. This change eliminates the notion of the APIC pool and reduces the complexity and cost of accounting for excess tax benefits and tax deficiencies. Excess tax benefits and tax deficiencies are considered discrete items in the reporting period they occur and are not included in the estimate of an entity’s annual effective tax rate. Additionally, this update permits an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures as they occur. This accounting guidance is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Upon adoption, excess tax benefits and tax deficiencies will be recognized in the provision for income taxes on the consolidated statement of operations and will be presented within operating activities on the consolidated statement of cash flows. On June 16, 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (the ASU). This ASU replaces the incurred loss model with an expected loss model, referred to as “current expected credit loss” (CECL) model. It will significantly change estimates for credit losses related to financial assets measured at amortized cost, including loans receivable, held-to-maturity (HTM) debt securities and certain other contracts. The largest impact will be on lenders and the allowance for loan and lease losses (ALLL). This ASU will be effective for public business entities (PBEs) in fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company is currently in the process of evaluating the impact of this ASU on its consolidated financial statements. On August 26, 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments)”. This ASU addresses the following eight specific cash flow issues: Debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (COLIs) (including bank-owned life insurance policies (BOLIs)); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. This amendment is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. There is no material impact on our statement of cash flows as a result of this ASU.

SUMMARY OF SIGNIFICANT ACCOUN32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of calculation of basic and diluted earnings per share	(In thousands, except share and per share data) 2016 2015 2014 Net income available to common shareholders $ 26,477 $ 19,972 $ 14,890 Basic weighted average shares outstanding 16,318,868 15,187,637 12,065,615 Plus: common stock equivalents 196,130 247,359 106,492 Diluted weighted average shares outstanding 16,514,998 15,434,996 12,172,107 Earnings per share: Basic $ 1.62 $ 1.31 $ 1.23 Diluted 1.60 1.29 1.22

INVESTMENT SECURITIES AVAILAB33

INVESTMENT SECURITIES AVAILABLE FOR SALE (Tables)	12 Months Ended
	Dec. 31, 2016
INVESTMENT SECURITIES AVAILABLE FOR SALE [Abstract]
Schedule of Amortized Cost and Approximate Fair Value of Securities Available for Sale	2016 Gross Gross Amortized Unrecognized Unrecognized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored agencies $ 21,991 $ — $ (474 ) $ 21,517 Mortgage-backed securities-residential 238,271 860 (1,514 ) 237,617 SBA pool securities 6,778 — (65 ) 6,713 State and political subdivisions 29,107 160 (274 ) 28,993 Corporate bond 3,000 113 — 3,113 Single-issuer trust preferred security 2,999 — (389 ) 2,610 CRA investment fund 5,000 — (175 ) 4,825 Total $ 307,146 $ 1,133 $ (2,891 ) $ 305,388 2015 Gross Gross Amortized Unrecognized Unrecognized Fair (In thousands) Cost Gains Losses Value Mortgage-backed securities-residential $ 159,747 $ 1,293 $ (433 ) $ 160,607 SBA pool securities 7,601 — (81 ) 7,520 State and political subdivisions 21,612 417 — 22,029 Single-issuer trust preferred security 2,999 — (464 ) 2,535 CRA investment fund 3,000 — (61 ) 2,939 Total $ 194,959 $ 1,710 $ (1,039 ) $ 195,630
Schedule of Securities Classified by Maturity	Maturing in: (In thousands) Amortized Cost Fair Value One year or less $ 9,483 $ 9,487 After one year through five years 19,409 19,451 After five years through ten years 20,359 19,873 After ten years 7,846 7,422 57,097 56,233 Mortgage-backed securities-residential 238,271 237,617 SBA pool securities 6,778 6,713 CRA investment fund 5,000 4,825 Total $ 307,146 $ 305,388
Schedule of Proceeds, Gains, Losses and Tax Effects	(In thousands) 2016 2015 2014 Proceeds on sales $ 5,499 $ 46,254 $ 35,411 Gross gains 133 536 414 Gross losses (14 ) (9 ) (154 ) Net tax expense 44 216 91
Schedule of Continuous Unrealized Losses and the Approximate Fair Value of these Investments	2016 Duration of Unrecognized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrecognized Fair Unrecognized Fair Unrecognized (In thousands) Value Losses Value Losses Value Losses U.S. government- sponsored agencies $ 21,517 $ (474 ) $ — $ — $ 21,517 $ (474 ) Mortgage-backed securities-residential 151,114 (1,472 ) 5,147 (42 ) 156,261 (1,514 ) SBA pool securities — — 6,713 (65 ) 6,713 (65 ) State and political subdivisions 9,412 (274 ) — — 9,412 (274 ) Single-issuer trust preferred security — — 2,610 (389 ) 2,610 (389 ) CRA investment fund 1,930 (70 ) 2,894 (105 ) 4,824 (175 ) Total $ 183,973 $ (2,290 ) $ 17,364 $ (601 ) $ 201,337 $ (2,891 ) 2015 Duration of Unrecognized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrecognized Fair Unrecognized Fair Unrecognized (In thousands) Value Losses Value Losses Value Losses Mortgage-backed securities-residential $ 89,717 $ (345 ) $ 8,913 $ (88 ) $ 98,630 $ (433 ) SBA pool securities — 7,520 (81 ) 7,520 (81 ) Single-issuer trust preferred security — — 2,535 (464 ) 2,535 (464 ) CRA investment fund — — 2,939 (61 ) 2,939 (61 ) Total $ 89,717 $ (345 ) $ 21,907 $ (694 ) $ 111,624 $ (1,039 )

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Schedule of composition of loans categorized by the type of loan	% of Total % of Total (Dollars in thousands) 2016 Loans 2015 Loans Residential mortgage $ 527,370 15.92% $ 470,869 16.16% Multifamily mortgage 1,459,594 44.07 1,416,775 48.63 Commercial mortgage 551,233 16.65 413,118 14.18 Commercial loans 636,714 19.23 512,886 17.60 Construction loans 1,405 0.04 1,401 0.05 Home equity lines of credit 65,682 1.98 52,649 1.81 Consumer loans, including fixed rate home equity loans 69,654 2.10 45,044 1.55 Other loans 492 0.01 500 0.02 Total loans $ 3,312,144 100.00% $ 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 December 31: % of Total % of Total (Dollars in thousands) 2016 Loans 2015 Loans Primary residential mortgage $ 557,970 16.86% $ 483,085 16.59% Home equity lines of credit 65,683 1.98 52,804 1.81 Junior lien loan on residence 9,206 0.28 11,503 0.39 Multifamily property 1,459,594 44.09 1,416,775 48.66 Owner-occupied commercial real estate 176,123 5.32 176,276 6.05 Investment commercial real estate 752,258 22.73 568,849 19.54 Commercial and industrial 213,983 6.47 154,295 5.30 Farmland/Agricultural production 169 0.01 179 0.01 Commercial construction 1,497 0.04 151 0.01 Consumer and other 73,621 2.22 47,635 1.64 Total loans $ 3,310,104 100.00% $ 2,911,552 100.00% Net deferred costs 2,040 1,690 Total loans including net deferred costs $ 3,312,144 $ 2,913,242
Schedule of loans to executives and directors	(In thousands) 2016 2015 Balance, beginning of year $ 4,280 $ 4,518 New loans 1,329 1,747 Repayments (697 ) (1,985 ) Loans with individuals no longer considered related parties (124 ) — Balance, at end of year $ 4,788 $ 4,280
Schedule of loan balances by portfolio segment, based on impairment method, and the corresponding balances in the allowance for loan losses	December 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 ALLL Primary residential mortgage $ 15,814 $ 456 $ 542,156 $ 3,210 $ 557,970 $ 3,666 Home equity lines of credit 53 — 65,630 233 65,683 233 Junior lien loan on residence 229 — 8,977 16 9,206 16 Multifamily property — — 1,459,594 11,192 1,459,594 11,192 Owner-occupied commercial real estate 1,486 — 174,637 1,774 176,123 1,774 Investment commercial real estate 11,335 214 740,923 10,695 752,258 10,909 Commercial and industrial 154 154 213,829 4,010 213,983 4,164 Secured by farmland and agricultural production — — 169 2 169 2 Commercial construction — — 1,497 9 1,497 9 Consumer and other — — 73,621 243 73,621 243 Total ALLL $ 29,071 $ 824 $ 3,281,033 $ 31,384 $ 3,310,104 $ 32,208 December 31, 2015 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 9,752 $ 291 $ 473,333 $ 2,006 $ 483,085 $ 2,297 Home equity lines of credit 254 — 52,550 86 52,804 86 Junior lien loan on residence 176 — 11,327 66 11,503 66 Multifamily property — — 1,416,775 11,813 1,416,775 11,813 Owner-occupied commercial real estate 1,272 — 175,004 1,679 176,276 1,679 Investment commercial real estate 11,482 61 557,367 7,529 568,849 7,590 Commercial and industrial 171 138 154,124 2,071 154,295 2,209 Secured by farmland and agricultural production — — 179 2 179 2 Commercial construction — — 151 2 151 2 Consumer and other — — 47,635 112 47,635 112 Total ALLL $ 23,107 $ 490 $ 2,888,445 $ 25,366 $ 2,911,552 $ 25,856 January 1, December 31, 2016 2016 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,297 $ (1,047 ) $ 28 $ 2,388 $ 3,666 Home equity lines of credit 86 (91 ) 15 223 233 Junior lien loan on residence 66 — 140 (190 ) 16 Multifamily property 11,813 — — (621 ) 11,192 Owner-occupied commercial real estate 1,679 (11 ) 72 34 1,774 Investment commercial real estate 7,590 (520 ) 246 3,593 10,909 Commercial and industrial 2,209 (16 ) 29 1,942 4,164 Secured by farmland and agricultural 2 — — — 2 Commercial construction 2 — — 7 9 Consumer and other 112 (5 ) 12 124 243 Total ALLL $ 25,856 $ (1,690 ) $ 542 $ 7,500 $ 32,208 January 1, December 31, 2015 2015 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,923 $ (638 ) $ 80 $ (68 ) $ 2,297 Home equity lines of credit 156 (210 ) 2 138 86 Junior lien loan on residence 109 (13 ) 62 (92 ) 66 Multifamily property 8,983 — — 2,830 11,813 Owner-occupied commercial real estate 1,547 — 11 121 1,679 Investment commercial real estate 4,751 (16 ) 18 2,837 7,590 Commercial and industrial 880 (73 ) 81 1,321 2,209 Secured by farmland and agricultural 4 — — (2 ) 2 Commercial construction 31 — — (29 ) 2 Consumer and other 96 (41 ) 13 44 112 Total ALLL $ 19,480 $ (991 ) $ 267 $ 7,100 $ 25,856 January 1, December 31, 2014 2014 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,361 $ (273 ) $ 1 $ 834 $ 2,923 Home equity lines of credit 181 — — (25 ) 156 Junior lien loan on residence 156 (1 ) 103 (149 ) 109 Multifamily property 4,003 — — 4,980 8,983 Owner-occupied commercial real estate 2,563 (669 ) 106 (453 ) 1,547 Investment commercial real estate 5,083 — 18 (350 ) 4,751 Commercial and industrial 825 (123 ) 85 93 880 Secured by farmland and agricultural 3 — — 1 4 Commercial construction 120 — — (89 ) 31 Consumer and other 78 (22 ) 7 33 96 Total ALLL $ 15,373 $ (1,088 ) $ 320 $ 4,875 $ 19,480
Schedule of loans individually evaluated for impairment	December 31, 2016 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 16,015 $ 14,090 $ — $ 10,038 Owner-occupied commercial real estate 1,597 1,486 — 1,450 Investment commercial real estate 9,711 9,711 — 9,974 Home equity lines of credit 56 53 — 143 Junior lien loan on residence 280 229 — 339 Total loans with no related allowance $ 27,659 $ 25,569 $ — $ 21,944 With related allowance recorded: Primary residential mortgage $ 1,787 $ 1,724 $ 456 $ 1,678 Investment commercial real estate 1,640 1,624 214 1,642 Commercial and industrial 204 154 154 145 Total loans with related allowance $ 3,631 $ 3,502 $ 824 $ 3,465 Total loans individually evaluated for impairment $ 31,290 $ 29,071 $ 824 $ 25,409 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	December 31, 2016 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 9,071 $ — Home equity lines of credit 30 — Junior lien loan on residence 115 — Owner-occupied commercial real estate 1,486 — Investment commercial real estate 408 — Commercial and industrial 154 — Consumer and other — — Total $ 11,264 $ — 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	December 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 $ 620 $ 480 $ — $ 1,100 Junior lien loan on residence — 25 — 25 Owner-occupied commercial real estate 209 — — 209 Commercial and industrial 22 — — 22 Total $ 851 $ 505 $ — $ 1,356 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	December 31, 2016 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 541,359 $ 660 $ 15,951 $ — Home equity lines of credit 65,630 — 53 — Junior lien loan on residence 8,977 — 229 — Multifamily property 1,456,328 2,867 399 — Owner-occupied commercial real estate 170,851 — 5,272 — Investment commercial real estate 724,203 5,116 22,939 — Commercial and industrial 208,617 4,411 955 — Secured by farmland and agricultural 169 — — — Commercial construction 1,400 97 — — Consumer and other loans 73,621 — — — Total $ 3,251,155 $ 13,151 $ 45,798 $ — December 31, 2015 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 471,859 $ 1,332 $ 9,894 $ — Home equity lines of credit 52,550 — 254 — Junior lien loan on residence 11,327 — 176 — Multifamily property 1,407,856 7,718 1,201 — Owner-occupied commercial real estate 170,420 928 4,928 — Investment commercial real estate 536,479 6,217 26,153 — Commercial and industrial 148,940 5,184 171 — Secured by farmland and agricultural 179 — — — 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	The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2016: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 7 $ 4,691 $ 4,691 Junior Lien loan on residence 1 63 63 Commercial and industrial 1 26 26 Total 9 $ 4,780 $ 4,780 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2015: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 11 $ 3,296 $ 3,296 Junior Lien loan on residence 1 58 58 Investment commercial real estate 1 750 750 Total 13 $ 4,104 $ 4,104 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2014: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 8 $ 2,138 $ 2,138 Investment commercial real estate 1 1,281 1,281 Total 9 $ 3,419 $ 3,419 The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2016 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 1 $ 269 Total 1 $ 269

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of premises and equipment	The following table presents premises and equipment as of December 31, (In thousands) 2016 2015 Land and land improvements $ 6,160 $ 4,942 Buildings 11,982 11,970 Furniture and equipment 17,572 16,857 Leasehold improvements 11,138 10,423 Projects in progress 1,415 919 Capital lease asset 11,237 11,237 59,504 56,348 Less: accumulated depreciation 29,133 26,102 Total $ 30,371 $ 30,246 The Company has included leases in premises and equipment as follows: (In thousands) 2016 2015 Land and buildings $ 11,237 $ 11,237 Less: accumulated depreciation 3,915 3,167 Total $ 7,322 $ 8,070
Schedule of future minimum lease payments under capitalized leases	(In thousands) 2017 $ 1,081 2018 1,127 2019 1,146 2020 1,195 2021 1,232 Thereafter 6,587 Total minimum lease payments 12,368 Less: amount representing interest 2,675 Present value of net minimum lease payments $ 9,693

OTHER REAL ESTATE OWNED (Tables

OTHER REAL ESTATE OWNED (Tables)	12 Months Ended
	Dec. 31, 2016
Other Real Estate [Abstract]
Schedule of activity in other real estate owned and related valuation allowance	The following table shows the activity in other real estate owned, excluding the valuation allowance, for the years ended December 31, (In thousands) 2016 2015 Balance, beginning of year $ 3,233 $ 3,744 OREO properties added 534 233 Sales during year (3,233 ) (744 ) Balance, end of year $ 534 $ 3,233 The following table shows the activity in the valuation allowance for the years ended December 31, (In thousands) 2016 2015 2014 Balance, beginning of year $ 2,670 $ 2,420 $ 2,020 Additions charged to expense — 250 400 Direct writedowns (2,670 ) — — Balance, end of year $ — $ 2,670 $ 2,420
Schedule of expenses related to other real estate owned	(In thousands) 2016 2015 2014 Net gain on sales $ (5 ) $ — $ (139 ) Provision for unrealized losses — 250 400 Operating expenses, net of rental income 59 51 179 Total $ 54 $ 301 $ 440

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2016
Deposits [Abstract]
Schedule of deposit liabilities	2016 2015 (Dollars in thousands) Noninterest-bearing demand deposits $ 489,485 14.35 % $ 419,887 14.30 % Interest-bearing checking 1,023,081 29.99 861,697 29.36 Savings 120,056 3.52 115,007 3.92 Money market 1,048,494 30.73 810,709 27.62 Certificates of deposit 457,000 13.39 434,450 14.80 Interest-bearing demand - Brokered 180,000 5.27 200,000 6.81 Certificates of deposit - Brokered 93,721 2.75 93,720 3.19 Total deposits $ 3,411,837 100.00 % $ 2,935,470 100.00 %
Schedule of maturities of time deposits	(In thousands) 2017 $ 152,113 2018 203,630 2019 71,084 2020 34,420 2021 18,539 Over 5 Years 70,935 Total $ 550,721

FEDERAL HOME LOAN BANK ADVANC38

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of maturity dates of the advances and other borrowings	(In thousands) 2017 $ 23,897 2018 34,898 2019 3,000 2020 — 2021 — Over 5 years — Total $ 61,795

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on a recurring basis	Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2016 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: U.S. government-sponsored agencies $ 21,517 $ — $ 21,517 $ — Mortgage-backed securities-residential 237,617 — 237,617 — SBA pool securities 6,713 — 6,713 — State and political subdivisions 28,993 — 28,993 — Corporate bond 3,113 — 3,113 Single-issuer trust preferred security 2,610 — 2,610 — CRA investment fund 4,825 4,825 — — Loans held for sale, at fair value 1,200 — 1,200 — Derivatives: Cash flow hedges 123 — 123 — Loan level swaps 1,543 — 1,543 — Total $ 308,254 $ 4,825 $ 303,429 $ — Liabilities: Derivatives: Cash flow hedges (867 ) — (867 ) — Loan level swaps (1,543 ) — (1,543 ) — Total $ (2,410 ) $ — $ (2,410 ) $ — (In thousands) December 31, 2015 Assets: Securities available for sale: Mortgage-backed securities-residential $ 160,607 $ — $ 160,607 $ — SBA pool securities 7,520 — 7,520 — State and political subdivisions 22,029 — 22,029 — Single-issuer trust preferred security 2,535 — 2,535 — CRA investment fund 2,939 2,939 — — Loans held for sale, at fair value 1,558 — 1,558 — Derivatives: Cash flow hedges 104 — 104 — Loan level swaps 1,106 — 1,106 — Total $ 198,398 $ 2,939 $ 195,459 $ — Liabilities: Derivatives: Cash flow hedges (1,434 ) — (1,434 ) — Loan level swaps (1,106 ) — (1,106 ) — Total $ (2,540 ) $ — $ (2,540 ) $ —
Schedule of residential loans held for sale	December 31, 2016 December 31, 2015 Residential loans contractual balance $ 1,181 $ 1,536 Fair value adjustment 19 22 Total fair value of residential loans held for sale $ 1,200 $ 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 Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2016 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Investment commercial real estate $ 245 $ — $ — $ 245 (In thousands) December 31, 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 December 31, 2016 are as follows: Fair Value Measurements at December 31, 2016 Using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 162,691 $ 162,691 $ — $ — $ 162,691 Securities available for sale 305,388 4,825 300,563 — 305,388 FHLB and FRB stock 13,813 — — — N/A Loans held for sale, at fair value 1,200 — 1,200 — 1,200 Loans held for sale, at lower of cost or fair value 388 — 428 — 428 Loans, net of allowance for loan losses 3,279,936 — — 3,256,837 3,256,837 Accrued interest receivable 8,153 — 899 7,254 8,153 Cash flow hedges 123 — 123 — 123 Loan level swaps 1,543 — 1,543 — 1,543 Financial liabilities Deposits $ 3,411,837 $ 2,861,116 $ 549,332 $ — $ 3,410,448 Federal Home Loan Bank advances 61,795 — 62,286 — 62,286 Subordinated debt 48,764 — — 48,768 48,768 Accrued interest payable 1,127 161 966 — 1,127 Cash flow hedges 867 — 867 — 867 Loan level swaps 1,543 — 1,543 — 1,543 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)	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Schedule of components of other operating expenses	(In thousands) 2016 2015 2014 Professional and legal fees $ 3,459 $ 2,747 $ 1,873 FDIC insurance 4,758 2,154 1,381 Wealth Division other expense 2,029 2,147 1,896 Branch Restructure (Note 4) — 1,735 — Telephone 976 942 914 Advertising 824 637 594 Loan expense 715 426 532 Provision for ORE losses — 250 400 Intangible amortization 123 82 — Other operating expenses 5,980 5,959 5,746 Total other operating expenses $ 18,864 $ 17,079 $ 13,336

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of income tax expense	(In thousands) 2016 2015 2014 Federal: Current expense/(benefit) $ 13,207 $ 13,035 $ 10,251 Deferred expense/(benefit) 486 (3,210 ) (2,626 ) State: Current expense/(benefit) 2,105 3,176 625 Deferred expense/(benefit) 466 (833 ) 1,146 Total income tax expense $ 16,264 $ 12,168 $ 9,396
Schedule of income tax reconciliation	(In thousands) 2016 2015 2014 Computed “expected” tax expense $ 14,959 $ 11,249 $ 8,500 (Decrease)/increase in taxes resulting from: Tax-exempt income (496 ) (316 ) (152 ) State income taxes 1,671 1,523 1,102 Bank owned life insurance income (195 ) (279 ) (152 ) Interest disallowance 95 40 9 Meals and entertainment expense 77 69 69 Stock-based compensation 15 86 60 Rate adjustment — (70 ) — Other 138 (134 ) (40 ) Total income tax expense $ 16,264 $ 12,168 $ 9,396
Schedule of deferred tax assets and liabilities	(In thousands) 2016 2015 Deferred tax assets: Allowance for loan losses $ 12,969 $ 10,437 Valuation allowance for OREO losses — 1,084 Federal and state net operating loss carryforward — 6 Lease adjustment 89 122 Post-retirement benefits 443 445 Prepaid alternative minimum assessment 283 283 Contribution limitation 235 237 Charitable contribution carryforward — 32 Organization costs 22 24 Cash flow hedge 304 544 Unrealized loss on securities available for sale 668 — Stock option expense 387 414 Nonaccrual interest 25 127 Accrued compensation 1,993 3,349 Capital leases 1,075 1,407 Total gross deferred tax assets $ 18,493 $ 18,511 Deferred tax liabilities: Bank premises and equipment, principally due to differences in depreciation $ 800 $ 767 Unrealized gain on securities available for sale — 262 Deferred loan origination costs and fees 1,535 1,114 Deferred income 790 721 Investment securities, principally due to the accretion of bond discount 4 29 Other 44 36 Total gross deferred tax liabilities 3,173 2,929 Net deferred tax asset $ 15,320 $ 15,582

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [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 (70,527 ) 18.94 Expired during 2016 (16,729 ) 21.31 Forfeited during 2016 (874 ) 13.51 Balance, December 31, 2016 179,159 $ 16.27 3.77 years $ 2,618 Vested and expected to vest (1) 178,663 $ 16.31 3.77 years $ 2,603 Exercisable at December 31, 2016 170,896 $ 16.41 3.68 years $ 2,472 (1) The difference between the shares which are exercisable (fully vested) and those which are expected to vest is due to anticipated forfeitures.
Schedule of weighted average assumption	2014 Dividend yield 1.02 % Expected volatility 40 % Expected life 7 Years Risk-free interest rate 2.18 %
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, December 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 188,397 16.99 Vested during 2016 (118,343 ) 19.05 Forfeited during 2016 (23,345 ) 18.75 Balance, December 31, 2016 368,130 $ 19.26

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of minimum annual lease payments under operating leases	(In thousands) 2017 $ 1,821 2018 1,670 2019 1,364 2020 1,358 2021 1,155 Thereafter 1,953 Total $ 9,321

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2016
REGULATORY CAPITAL [Abstract]
Schedule of regulatory capital	The Bank’s actual capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016: Total capital (to risk-weighted assets) $ 392,305 12.87 % $ 304,758 10.00 % $ 243,806 8.00 % $ 262,854 8.625 % Tier I capital (to risk-weighted assets) 360,097 11.82 243,806 8.00 182,855 6.00 201,902 6.625 Common equity tier I (to risk-weighted assets) 360,094 11.82 198,093 6.50 137,141 4.50 156,188 5.125 Tier I capital (to average assets) 360,097 9.31 193,430 5.00 154,744 4.00 154,744 4.00 As of December 31, 2015: Total capital (to risk-weighted assets) $ 297,497 11.32 % $ 262,719 10.00 % $ 210,176 8.00 % N/A N/A Tier I capital (to risk-weighted assets) 271,641 10.34 210,176 8.00 157,632 6.00 N/A N/A Common equity tier I (to risk-weighted assets) 271,641 10.34 170,768 6.50 118,224 4.50 N/A N/A Tier I capital (to average assets) 271,641 8.04 169,027 5.00 135,221 4.00 N/A N/A The Company’s actual capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016: Total capital (to risk-weighted assets) $ 404,017 13.25 % N/A N/A $ 243,910 8.00 % $ 262,966 8.625 % Tier I capital (to risk-weighted assets) 323,045 10.60 N/A N/A 182,933 6.00 201,988 6.625 Common equity tier I (to risk-weighted assets) 323,042 10.60 N/A N/A 137,200 4.50 156,255 5.125 Tier I capital (to average assets) 323,045 8.35 N/A N/A 154,788 4.00 154,788 4.00 As of December 31, 2015: Total capital (to risk-weighted assets) $ 299,593 11.40 % N/A N/A $ 210,209 8.00 % N/A N/A Tier I capital (to risk-weighted assets) 273,738 10.42 N/A N/A 157,657 6.00 N/A N/A Common equity tier I (to risk-weighted assets) 273,738 10.42 N/A N/A 118,242 4.50 N/A N/A Tier I capital (to average assets) 273,738 8.10 N/A N/A 135,237 4.00 N/A N/A (A) When fully phased in on January 1, 2019, the Basel Rules will require the Company and the Bank to maintain a 2.5% “capital conservation buffer” on top of the minimum risk-weighted asset ratios. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of (i) CET1 to risk-weighted assets, (ii) Tier 1 capital to risk-weighted assets or (iii) total capital to risk-weighted assets above the respective minimum but below the capital conservation buffer will face constraints on dividends, equity repurchases and discretionary bonus payments to executive officers based on the amount of the shortfall. The implementation of the capital conservation buffer began on January 1, 2016 at the 0.625% level and will increase by 0.625% on each subsequent January 1, until it reaches 2.5% on January 1, 2019.

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Information about Derivatives	(Dollars in thousands) 2016 2015 Notional amount $ 180,000 $ 180,000 Weighted average pay rate 1.64 % 1.64 % Weighted average receive rate 0.58 % 0.29 % Weighted average maturity 3.25 years 4.25 years Unrealized loss, net $ (744 ) $ (1,330 ) (Dollars in thousands) December 31, 2016 December 31, 2015 Notional amount $ 126,810 $ 27,259 Fair value $ 1,543 $ 1,106 Weighted average pay rates 3.75 % 3.06 % Weighted average receive rates 2.65 % 1.44 % Weighted average maturity 9.4 years 15.8 years
Schedule of Net Gains/(Losses)	2016 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 $ — $ — 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 $ (1,162 ) $ — $ —
Schedule of Notional Amount and Fair Value	December 31, 2016 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing demand brokered deposits $ 180,000 $ (744 ) Total included in other assets 30,000 123 Total included in other liabilities $ 150,000 $ (867 ) 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 )

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of income and total assets for reportable segments	Twelve Months Ended December 31, 2016 Wealth (In thousands) Banking Management Total Net interest income $ 91,334 $ 5,101 $ 96,435 Noninterest income 10,217 18,701 28,918 Total income 101,551 23,802 125,353 Provision for loan losses 7,500 — 7,500 Compensation and benefits 36,463 8,540 45,003 Premises and equipment expense 10,300 945 11,245 Other noninterest expense 13,523 5,341 18,864 Total noninterest expense 67,786 14,826 82,612 Income before income tax expense 33,765 8,976 42,741 Income tax expense 12,772 3,492 16,264 Net income $ 20,993 $ 5,484 $ 26,477 Total assets at period end $ 3,832,765 $ 45,868 $ 3,878,633 Twelve Months Ended December 31, 2015 Wealth (In thousands) Banking Management Total Net interest income $ 80,190 $ 4,262 $ 84,452 Noninterest income 6,434 17,280 23,714 Total income 86,624 21,542 108,166 Provision for loan losses 7,100 — 7,100 Compensation and benefits 32,133 8,145 40,278 Premises and equipment expense 10,634 935 11,569 Other noninterest expense 12,203 4,876 17,079 Total noninterest expense 62,070 13,956 76,026 Income before income tax expense 24,554 7,586 32,140 Income tax expense 9,217 2,951 12,168 Net income $ 15,337 $ 4,635 $ 19,972 Total assets at period end $ 3,326,219 $ 38,440 $ 3,364,659 Twelve Months Ended December 31, 2014 Wealth (In thousands) Banking Management Total Net interest income $ 64,148 $ 3,746 $ 67,894 Noninterest income 5,336 15,471 20,807 Total income 69,484 19,217 88,701 Provision for loan losses 4,875 — 4,875 Compensation and benefits 28,679 7,562 36,241 Premises and equipment expense 9,207 756 9,963 Other noninterest expense 8,922 4,414 13,336 Total noninterest expense 51,683 12,732 64,415 Income before income tax expense 17,801 6,485 24,286 Income tax expense 6,873 2,523 9,396 Net income $ 10,928 $ 3,962 $ 14,890 Total assets at period end $ 2,676,103 $ 26,294 $ 2,702,397

ACQUISITION (Tables)

ACQUISITION (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Summary of Consideration Paid and Amounts of Assets Acquired	Consideration (in thousands) Cash $ 800 Equity Instruments 2,000 Fair value of total consideration transferred $ 2,800 Recognized amounts of identifiable assets acquired Customer relationship intangible $ 1,685 Other intangibles 105 Goodwill 1,010 Total assets acquired $ 2,800
Schedule of Warrants	Dividend yield 0.93 % Expected volatility 33.73 % Expected life 7 Years Risk-free interest rate 1.84 %
Schedule of Intangible Assets	Acquired intangible assets that have a definite life were as follows at December 31, 2016. Gross Gross Carrying Accumulated (In thousands) Amount Amount Net Amortized intangible assets: Customer relationships $ 1,685 $ 187 $ 1,498 Non-compete agreement 56 19 37 Total $ 1,741 $ 206 $ 1,535 Acquired intangible assets that have a definite life were as follows at December 31, 2015. Gross Gross Carrying Accumulated (In thousands) Amount Amount Net Amortized intangible assets: Customer relationships $ 1,685 $ 75 $ 1,610 Non-compete agreement 56 7 49 Total $ 1,741 $ 82 $ 1,659
Schedule of Estimated Amortization Expense	(In thousands) 2017 $ 123 2018 123 2019 123 2020 116 2021 112 Total $ 597

ACCUMULATED OTHER COMPREHENSI48

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Schedule of accumulated other comprehensive income balances, net of tax	Amount Other Reclassified Comprehensive Other From Loss/(Gain) Comprehensive Accumulated Twelve Months Balance at Loss/(Gain) Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2015 Reclassifications Loss 2016 2016 Net unrealized holding gain/(loss)on securities available for sale, net of tax $ 408 $ (1,424 ) $ (75 ) $ (1,499 ) $ (1,091 ) Losses on cash flow hedge $ (787 ) $ 347 $ — $ 347 $ (440 ) Accumulated other comprehensive loss, net of tax $ (379 ) $ (1,077 ) $ (75 ) $ (1,152 ) $ (1,531 ) Amount Other Reclassified Comprehensive Other from (Loss) Comprehensive Accumulated Twelve Months Balance at (Loss) Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2014 Reclassifications Income 2015 2015 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ 1,321 $ (602 ) $ (311 ) $ (913 ) $ 408 Losses on cash flow hedge (100 ) $ (687 ) $ — $ (687 ) $ (787 ) Accumulated other comprehensive income/(loss), net of tax $ 1,221 $ (1,289 ) $ (311 ) $ (1,600 ) $ (379 ) Amount Other Reclassified Comprehensive Other from Income Comprehensive Accumulated Twelve Months Balance at Income Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2013 Reclassifications Income 2014 2014 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ 23 $ 1,467 $ (169 ) $ 1,298 $ 1,321 Losses on cash flow hedge $ — $ (100 ) $ — $ (100 ) $ (100 ) Accumulated other comprehensive income/(loss), net of tax $ 23 $ 1,367 $ (169 ) $ 1,198 $ 1,221
Schedule of the reclassifications out of accumulated other comprehensive income	Twelve Months Ended December 31, (In thousands) 2016 2015 2014 Affected Line Item in Statements of Income Unrealized gains/(losses) on Realized gain on securities sales, AFS $ 119 $ 527 $ 260 Securities gains, net Income tax expense (44 ) (216 ) (91 ) Income tax expense Total reclassifications, net of tax $ 75 $ 311 $ 169

CONDENSED FINANCIAL STATEMENT49

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (Tables)	12 Months Ended
	Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule of Condensed Statements of Condition	STATEMENTS OF CONDITION December 31, (In thousands) 2016 2015 Assets Cash $ 10,330 $ 1,489 Interest-earning deposits 515 515 Total cash and cash equivalents 10,845 2,004 Investment in subsidiary 361,262 273,580 Other assets 1,303 414 Total assets $ 373,410 $ 275,998 Liabilities Subordinated debt $ 48,764 $ — Other liabilities 436 322 Total liabilities 49,200 322 Shareholders’ equity Common stock 14,717 13,717 Surplus 238,708 213,203 Treasury stock (8,988 ) (8,988 ) Retained earnings 81,304 58,123 Accumulated other comprehensive loss (1,531 ) (379 ) Total shareholders’ equity 324,210 275,676 Total liabilities and shareholders’ equity $ 373,410 $ 275,998
Schedule of Condensed Statments of Income	STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Years Ended December 31, (In thousands) 2016 2015 2014 Income Dividend from Bank $ — $ — $ — Other income 1 1 1 Total income 1 1 1 Expenses Interest expenses 1,696 — — Other expenses 699 525 637 Total expenses 2,395 525 637 Loss before income tax benefit and equity in undistributed earnings of Bank (2,394 ) (524 ) (636 ) Income tax benefit (835 ) (180 ) (216 ) Net loss before equity in undistributed earnings of Bank (1,559 ) (344 ) (420 ) Equity in undistributed earnings of Bank/(dividends in excess of earnings) 28,036 20,316 15,310 Net income $ 26,477 $ 19,972 $ 14,890 Other comprehensive (loss)/income (1,152 ) (1,600 ) 1,198 Comprehensive income $ 25,325 $ 18,372 $ 16,088
Schedule of Condensed Statements of Cash Flows	STATEMENTS OF CASH FLOWS Years Ended December 31, (In thousands) 2016 2015 2014 Cash flows from operating activities: Net income $ 26,477 $ 19,972 $ 14,890 Undistributed earnings of Bank (28,036 ) (20,316 ) (15,310 ) Amortization of subordinated debt costs 71 — — (Increase)/decrease in other assets (889 ) (194 ) 427 Increase/(decrease) in other liabilities 114 81 (63 ) Net cash used in operating activities (2,263 ) (457 ) (56 ) Cash flows from investing activities: Capital contribution to subsidiary (57,823 ) (18,000 ) (88,674 ) Net cash used in investing activities (57,823 ) (18,000 ) (88,674 ) Cash flows from financing activities: Cash dividends paid on common stock (3,296 ) (3,100 ) (2,414 ) Exercise of stock options, net of stock swaps 1,069 86 174 Proceeds from issuance of subordinated debt 48,693 Net proceeds, rights offering — — 48,358 Issuance of common shares (DRIP program) 22,461 13,648 7,429 Purchase of shares for Profit Sharing Plan — — 70 Net cash provided by financing activities 68,927 10,634 53,617 Net (decrease)/increase in cash and cash equivalents 8,841 (7,823 ) (35,113 ) Cash and cash equivalents at beginning of period 2,004 9,827 44,940 Cash and cash equivalents at end of period $ 10,845 $ 2,004 $ 9,827

SUPPLEMENTAL DATA (unaudited) (

SUPPLEMENTAL DATA (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of unaudited quarterly financial data	Selected 2016 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 27,898 $ 29,035 $ 29,844 $ 30,271 Interest expense 4,488 4,859 5,575 5,691 Net interest income 23,410 24,176 24,269 24,580 Provision for loan losses 1,700 2,200 2,100 1,500 Trust fees 4,295 4,899 4,436 4,610 Securities gains/(losses), net 101 18 — — Other income 1,867 2,531 3,099 3,062 Operating expenses 19,206 18,775 18,166 18,965 Income before income tax expense 8,767 10,649 11,538 11,787 Income tax expense 3,278 4,085 4,422 4,479 Net income $ 5,489 $ 6,564 $ 7,116 $ 7,308 Earnings per share-basic $ 0.35 $ 0.41 $ 0.43 $ 0.44 Earnings per share-diluted 0.34 0.40 0.43 0.43 Selected 2015 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 22,361 $ 23,852 $ 25,806 $ 27,123 Interest expense 2,778 3,508 4,100 4,304 Net interest income 19,583 20,344 21,706 22,819 Provision for loan losses 1,350 2,200 1,600 1,950 Wealth management fee income 4,031 4,532 4,169 4,307 Securities gains/(losses), net 268 176 83 — Other income 1,583 1,791 1,358 1,416 Operating expenses 15,768 16,266 16,899 19,993 Income before income tax expense 8,347 8,377 8,817 6,599 Income tax expense 3,339 3,139 3,434 2,256 Net income $ 5,008 $ 5,238 $ 5,383 $ 4,343 Earnings per share-basic $ 0.34 $ 0.34 $ 0.35 $ 0.28 Earnings per share-diluted 0.33 0.34 0.35 0.28 Selected 2014 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 16,949 $ 18,630 $ 19,210 $ 20,786 Interest expense 1,378 1,707 2,162 2,434 Net interest income 15,571 16,923 17,048 18,352 Provision for loan losses 1,325 1,150 1,150 1,250 Wealth management fee income 3,754 4,005 3,661 3,822 Securities gains/(losses), net 98 79 39 44 Other income 1,143 1,389 1,352 1,421 Operating expenses 14,339 14,930 14,693 15,578 Income before income tax expense 4,902 6,316 6,257 6,811 Income tax expense 1,871 2,533 2,393 2,599 Net income $ 3,031 $ 3,783 $ 3,864 $ 4,212 Earnings per share-basic $ 0.26 $ 0.32 $ 0.33 $ 0.32 Earnings per share-diluted 0.26 0.32 0.32 0.32

SUMMARY OF SIGNIFICANT ACCOUN51

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative - Other) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares
Threshold for determining nonaccrual status	90 days
Antidilutive securities | shares	2,479	92,720	478,389
Cash dividends declared on common stock, per share | $ / shares	$ 0.20	$ 0.20	$ 0.20
Finite-Lived Intangible Asset, Useful Life	15 years
Premises [Member]
Useful life	40 years
Small Business Administration Loans [Member]
Amount of loans serviced | $	$ 5,800	$ 236
Loans held for sale | $	$ 388
Consumer and Other [Member]
Threshold for determining nonaccrual status	120 days
Substandard [Member]
Loan reserve multiple	4	5
Special Mention [Member]
Loan reserve multiple	2	2.5
Minimum [Member] | Equipment and Other Fixed Assets [Member]
Useful life	3 years
Maximum [Member] | Equipment and Other Fixed Assets [Member]
Useful life	10 years
Employee Stock [Member]
Number of share purchase rights authorized | shares	150,000
Percentage of closing market price on purchase date	85.00%
Compensation cost | $	$ 100	$ 100	$ 49
Issuance of shares for Employee Stock Purchase Plan, shares | shares	32,190	30,766	10,698
Employee Stock [Member] | Minimum [Member]
Percentage of compensation contributable	1.00%
Employee Stock [Member] | Maximum [Member]
Percentage of compensation contributable	15.00%

SUMMARY OF SIGNIFICANT ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Earnings per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Net income available to common shareholders													$ 26,477	$ 19,972	$ 14,890
Basic weighted average shares outstanding (in shares)													16,318,868	15,187,637	12,065,615
Plus: common stock equivalents													196,130	247,359	106,492
Diluted weighted-average shares outstanding													16,514,998	15,434,996	12,172,107
Earnings per share:
Basic	$ 0.44	$ 0.43	$ 0.41	$ 0.35	$ 0.28	$ 0.35	$ 0.34	$ 0.34	$ 0.32	$ 0.33	$ 0.32	$ 0.26	$ 1.62	$ 1.31	$ 1.23
Diluted	$ 0.43	$ 0.43	$ 0.40	$ 0.34	$ 0.28	$ 0.35	$ 0.34	$ 0.33	$ 0.32	$ 0.32	$ 0.32	$ 0.26	$ 1.60	$ 1.29	$ 1.22

INVESTMENT SECURITIES AVAILAB53

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Amortized Cost and Approximate Fair Value) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 307,146	$ 194,959
Gross Unrecognized Gains	1,133	1,710
Gross Unrecognized Losses	(2,891)	(1,039)
Fair Value	305,388	195,630
U.S. Government-Sponsored Entities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	21,991
Gross Unrecognized Losses	(474)
Fair Value	21,517
Mortgage-Backed Securities-Residential [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	238,271	159,747
Gross Unrecognized Gains	860	1,293
Gross Unrecognized Losses	(1,514)	(433)
Fair Value	237,617	160,607
SBA Pool Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,778	7,601
Gross Unrecognized Losses	(65)	(81)
Fair Value	6,713	7,520
State and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	29,107	21,612
Gross Unrecognized Gains	160	417
Gross Unrecognized Losses	(274)
Fair Value	28,993	22,029
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,000
Gross Unrecognized Gains	113
Fair Value	3,113
Single-Issuer Trust Preferred Security [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,999	2,999
Gross Unrecognized Losses	(389)	(464)
Fair Value	2,610	2,535
CRA Investment Fund [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	5,000	3,000
Gross Unrecognized Losses	(175)	(61)
Fair Value	$ 4,825	$ 2,939

INVESTMENT SECURITIES AVAILAB54

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Securities by Maturity) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Amortized Cost:
Due in one year or less	$ 9,483
Due after one year through five years	19,409
Due after five years through ten years	20,359
Due after ten years	7,846
Total	57,097
Total Amortized Cost	307,146
Fair Value:
Due in one year or less	9,487
Due after one year through five years	19,451
Due after five years through ten years	19,873
Due after ten years	7,422
Total	56,233
Total Fair Value	305,388
Mortgage-Backed Securities-Residential [Member]
Amortized Cost:
Securities not due at a single maturity	238,271
Fair Value:
Securities not due at a single maturity	237,617
SBA Pool Securities [Member]
Amortized Cost:
Securities not due at a single maturity	6,778
Fair Value:
Securities not due at a single maturity	6,713
CRA Investment Fund [Member]
Amortized Cost:
Securities not due at a single maturity	5,000
Fair Value:
Securities not due at a single maturity	$ 4,825

INVESTMENT SECURITIES AVAILAB55

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Gross Gains, Gross Losses and Net Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
INVESTMENT SECURITIES AVAILABLE FOR SALE [Abstract]
Available for sale securities pledged as collateral	$ 154,700	$ 136,000
Proceeds on sales	5,499	46,254	$ 35,411
Gross gains	133	536	414
Gross losses	(14)	(9)	(154)
Net tax expense	$ 44	$ 216	$ 91

INVESTMENT SECURITIES AVAILAB56

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Securities with Continuous Unrealized Losses) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Approximate Fair Value
Less Than 12 Months	$ 183,973	$ 89,717
12 Months or Longer	17,364	21,907
Total	201,337	111,624
Unrealized Losses
Less Than 12 Months	(2,290)	(345)
12 Months or Longer	(601)	(694)
Total	(2,891)	(1,039)
U.S. Government-Sponsored Entities [Member]
Approximate Fair Value
Less Than 12 Months	21,517
Total	21,517
Unrealized Losses
Less Than 12 Months	(474)
Total	(474)
Mortgage-Backed Securities-Residential [Member]
Approximate Fair Value
Less Than 12 Months	151,114	89,717
12 Months or Longer	5,147	8,913
Total	156,261	98,630
Unrealized Losses
Less Than 12 Months	(1,472)	(345)
12 Months or Longer	(42)	(88)
Total	(1,514)	(433)
SBA Pool Securities [Member]
Approximate Fair Value
12 Months or Longer	6,713	7,520
Total	6,713	7,520
Unrealized Losses
12 Months or Longer	(65)	(81)
Total	(65)	(81)
State and Political Subdivisions [Member]
Approximate Fair Value
Less Than 12 Months	9,412
Total	9,412
Unrealized Losses
Less Than 12 Months	(274)
Total	(274)
Single-Issuer Trust Preferred Security [Member]
Approximate Fair Value
12 Months or Longer	2,610	2,535
Total	2,610	2,535
Unrealized Losses
12 Months or Longer	(389)	(464)
Total	(389)	(464)
CRA Investment Fund [Member]
Approximate Fair Value
Less Than 12 Months	1,930
12 Months or Longer	2,894	2,939
Total	4,824	2,939
Unrealized Losses
Less Than 12 Months	(70)
12 Months or Longer	(105)	(61)
Total	$ (175)	$ (61)

LOANS (Narrative) (Details)

LOANS (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, at lower of cost or fair value		$ 388	$ 82,200
Sales of loans	$ 67,000	234,000	204,000
Impaired non-accrual loans		11,264	6,747
Impaired non-accrual loans performing troubled debt restructured		17,800	16,200
Allowance allocated to troubled debt restructured loans		550	314
Allowance allocated to non accrual loans		441	162
Impaired loans		29,071	23,107
Troubled debt restructurings specific reserves to customers		550	441
Gain on loans held for sale at lower of cost or fair value	$ 166	1,233		$ 166
Proceeds from sales of loans held for sale at lower of cost or fair value		201,681		$ 68,022
Transfer of loans held for sale to loan portfolio		$ 30,121
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for sale, at lower of cost or fair value			$ 82,200

LOANS (Schedule of Loans Outsta

LOANS (Schedule of Loans Outstanding, by Classification) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Total loans	$ 3,312,144	$ 2,913,242
Unallocated Financing Receivables [Member]
Total loans	492	500
Residential Mortgage [Member] | Residential Portfolio Segment [Member]
Total loans	527,370	470,869
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans	1,459,594	1,416,775
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	551,233	413,118
Commercial Loans [Member] | Commercial Portfolio Segment [Member]
Total loans	636,714	512,886
Construction Loans [Member]
Total loans	1,405	1,401
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans	65,682	52,649
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other [Member]
Total loans	$ 69,654	$ 45,044
Loans and Finance Receivables [Member]
Total loans (in percent)	100.00%	100.00%
Loans and Finance Receivables [Member] | Unallocated Financing Receivables [Member]
Total loans (in percent)	0.01%	0.02%
Loans and Finance Receivables [Member] | Residential Mortgage [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	15.92%	16.16%
Loans and Finance Receivables [Member] | Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	44.07%	48.63%
Loans and Finance Receivables [Member] | Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans (in percent)	16.65%	14.18%
Loans and Finance Receivables [Member] | Commercial Loans [Member] | Commercial Portfolio Segment [Member]
Total loans (in percent)	19.23%	17.60%
Loans and Finance Receivables [Member] | Construction Loans [Member]
Total loans (in percent)	0.04%	0.05%
Loans and Finance Receivables [Member] | Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	1.98%	1.81%
Loans and Finance Receivables [Member] | Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other [Member]
Total loans (in percent)	2.10%	1.55%

LOANS (Schedule of Loan Balance

LOANS (Schedule of Loan Balances by Portfolio Class) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Total loans	$ 3,310,104	$ 2,911,552
Net deferred fees	2,040	1,690
Total loans including net deferred costs	3,312,144	2,913,242
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	9,206	11,503
Consumer and Other [Member]
Total loans	73,621	47,635
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total loans	557,970	483,085
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans	65,683	52,804
Total loans including net deferred costs	65,682	52,649
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans	1,459,594	1,416,775
Total loans including net deferred costs	1,459,594	1,416,775
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	176,123	176,276
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	752,258	568,849
Construction Loans [Member]
Total loans including net deferred costs	1,405	1,401
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total loans	1,497	151
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total loans	213,983	154,295
Agricultural Sector [Member]
Total loans	$ 169	$ 179
Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	100.00%	100.00%
Loans and Finance Receivables, Gross [Member] | Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans (in percent)	0.28%	0.39%
Loans and Finance Receivables, Gross [Member] | Consumer and Other [Member]
Total loans (in percent)	2.22%	1.64%
Loans and Finance Receivables, Gross [Member] | Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	16.86%	16.59%
Loans and Finance Receivables, Gross [Member] | Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	1.98%	1.81%
Loans and Finance Receivables, Gross [Member] | Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	44.09%	48.66%
Loans and Finance Receivables, Gross [Member] | Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans (in percent)	5.32%	6.05%
Loans and Finance Receivables, Gross [Member] | Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans (in percent)	22.73%	19.54%
Loans and Finance Receivables, Gross [Member] | Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total loans (in percent)	0.04%	0.01%
Loans and Finance Receivables, Gross [Member] | Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total loans (in percent)	6.47%	5.30%
Loans and Finance Receivables, Gross [Member] | Agricultural Sector [Member]
Total loans (in percent)	0.01%	0.01%

LOANS (Schedule of Related Part

LOANS (Schedule of Related Party Loan Balances) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Loans receivable from executive officers and directors
Balance, beginning of year	$ 4,280	$ 4,518
New loans	1,329	1,747
Repayments	(697)	(1,985)
Loans with individuals no longer considered related parties	(124)
Balance, at end of year	$ 4,788	$ 4,280

LOANS (Schedule of Balances by

LOANS (Schedule of Balances by Portfolio Class, Based on Impairment Method) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Total Loans Individually Evaluated for Impairment	$ 29,071	$ 23,107
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	824	490
Total Loans Collectively Evaluated for Impairment	3,281,033	2,888,445
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	31,384	25,366
Total Loans	3,310,104	2,911,552
Total Ending ALLL	32,208	25,856	$ 19,480	$ 15,373
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans Individually Evaluated for Impairment	229	176
Total Loans Collectively Evaluated for Impairment	8,977	11,327
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	16	66
Total Loans	9,206	11,503
Total Ending ALLL	16	66	109	156
Consumer and Other [Member]
Total Loans Collectively Evaluated for Impairment	73,621	47,635
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	243	112
Total Loans	73,621	47,635
Total Ending ALLL	243	112	96	78
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	15,814	9,752
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	456	291
Total Loans Collectively Evaluated for Impairment	542,156	473,333
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	3,210	2,006
Total Loans	557,970	483,085
Total Ending ALLL	3,666	2,297	2,923	2,361
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	53	254
Total Loans Collectively Evaluated for Impairment	65,630	52,550
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	233	86
Total Loans	65,683	52,804
Total Ending ALLL	233	86	156	181
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans Collectively Evaluated for Impairment	1,459,594	1,416,775
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	11,192	11,813
Total Loans	1,459,594	1,416,775
Total Ending ALLL	11,192	11,813	8,983	4,003
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	1,486	1,272
Total Loans Collectively Evaluated for Impairment	174,637	175,004
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	1,774	1,679
Total Loans	176,123	176,276
Total Ending ALLL	1,774	1,679	1,547	2,563
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	11,335	11,482
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	214	61
Total Loans Collectively Evaluated for Impairment	740,923	557,367
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	10,695	7,529
Total Loans	752,258	568,849
Total Ending ALLL	10,909	7,590	4,751	5,083
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total Loans Collectively Evaluated for Impairment	1,497	151
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	9	2
Total Loans	1,497	151
Total Ending ALLL	9	2	31	120
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	154	171
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	154	138
Total Loans Collectively Evaluated for Impairment	213,829	154,124
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	4,010	2,071
Total Loans	213,983	154,295
Total Ending ALLL	4,164	2,209	880	825
Agricultural Sector [Member]
Total Loans Collectively Evaluated for Impairment	169	179
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2	2
Total Loans	169	179
Total Ending ALLL	$ 2	$ 2	$ 4	$ 3

LOANS (Schedule of Schedule of

LOANS (Schedule of Schedule of Loans Individually Evaluated for Impairment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Unpaid Principal Balance
With no related allowance recorded	$ 27,659	$ 22,097
With related allowance recorded	3,631	3,518
Total loans individually evaluated impairment	31,290	25,615
Recorded Investment
With no related allowance recorded	25,569	19,750
With related allowance recorded	3,502	3,357
Total loans individually evaluated impairment	29,071	23,107
Specific Reserves	824	490
Average Impaired Loans
With no related allowance recorded	21,944	17,900
With related allowance recorded	3,465	3,304
Total loans individually evaluated impairment	25,409	21,204
Residential Portfolio Segment [Member] | Junior Lien [Member]
Unpaid Principal Balance
With no related allowance recorded	280	219
Recorded Investment
With no related allowance recorded	229	176
Average Impaired Loans
With no related allowance recorded	339	166
Consumer and Other [Member]
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	16,015	8,998
With related allowance recorded	1,787	2,090
Recorded Investment
With no related allowance recorded	14,090	7,782
With related allowance recorded	1,724	1,970
Specific Reserves	456	291
Average Impaired Loans
With no related allowance recorded	10,038	5,683
With related allowance recorded	1,678	1,894
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	1,597	1,460
Recorded Investment
With no related allowance recorded	1,486	1,272
Average Impaired Loans
With no related allowance recorded	1,450	1,379
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	9,711	11,099
With related allowance recorded	1,640	1,249
Recorded Investment
With no related allowance recorded	9,711	10,233
With related allowance recorded	1,624	1,249
Specific Reserves	214	61
Average Impaired Loans
With no related allowance recorded	9,974	10,330
With related allowance recorded	1,642	1,266
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	56	258
Recorded Investment
With no related allowance recorded	53	254
Average Impaired Loans
With no related allowance recorded	143	229
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded		63
With related allowance recorded	204	179
Recorded Investment
With no related allowance recorded		33
With related allowance recorded	154	138
Specific Reserves	154	138
Average Impaired Loans
With no related allowance recorded		112
With related allowance recorded	$ 145	$ 144

LOANS (Schedule of Investment i

LOANS (Schedule of Investment in Nonaccrual and Loans Past Due Over 90 Days) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Impaired non-accrual loans	$ 11,264	$ 6,747
Loans Past Due Over 90 Days And Still Accruing Interest
Residential Portfolio Segment [Member] | Junior Lien [Member]
Impaired non-accrual loans	115	118
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	9,071	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	30	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	1,486	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
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Impaired non-accrual loans	154	171
Loans Past Due Over 90 Days And Still Accruing Interest

LOANS (Schedule of Schedule o64

LOANS (Schedule of Schedule of Aging of Past Due Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Total Past Due	$ 1,356	$ 2,143
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Past Due	25
30 to 59 Days Past Due [Member]
Total Past Due	851	1,986
60 to 89 Days Past Due [Member]
Total Past Due	505	157
60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Past Due	25
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Past Due	1,100	1,371
Primary Residential Mortgages [Member] | 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member]
Total Past Due	620	1,214
Primary Residential Mortgages [Member] | 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member]
Total Past Due	480	157
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Past Due		772
Investment Property [Member] | 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Past Due		$ 772
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Past Due	209
Owner Occupied Property [Member] | 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Past Due	209
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Past Due	22
Commercial and Industrial Sector [Member] | 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Total Past Due	$ 22

LOANS (Schedule of Schedule o65

LOANS (Schedule of Schedule of Risk Category of Loans by Class of Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Total Loans	$ 3,310,104	$ 2,911,552
Impaired loans	31,290	25,615
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans	9,206	11,503
Consumer and Other [Member]
Total Loans	73,621	47,635
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans	557,970	483,085
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans	65,683	52,804
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans	1,459,594	1,416,775
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	176,123	176,276
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	752,258	568,849
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total Loans	1,497	151
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Loans	213,983	154,295
Agricultural Sector [Member]
Total Loans	169	179
Pass [Member]
Total Loans	3,251,155	2,847,245
Pass [Member] | Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans	8,977	11,327
Pass [Member] | Consumer and Other [Member]
Total Loans	73,621	47,635
Pass [Member] | Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans	541,359	471,859
Pass [Member] | Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans	65,630	52,550
Pass [Member] | Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans	1,456,328	1,407,856
Pass [Member] | Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	170,851	170,420
Pass [Member] | Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	724,203	536,479
Pass [Member] | Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total Loans	1,400
Pass [Member] | Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Loans	208,617	148,940
Pass [Member] | Agricultural Sector [Member]
Total Loans	169	179
Special Mention [Member]
Total Loans	13,151	21,530
Special Mention [Member] | Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans	660	1,332
Special Mention [Member] | Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans	2,867	7,718
Special Mention [Member] | Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans		928
Special Mention [Member] | Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	5,116	6,217
Special Mention [Member] | Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total Loans	97	151
Special Mention [Member] | Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Loans	4,411	5,184
Substandard [Member]
Total Loans	45,798	42,777
Impaired loans	27,900	21,800
Substandard [Member] | Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans	229	176
Substandard [Member] | Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans	15,951	9,894
Substandard [Member] | Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans	53	254
Substandard [Member] | Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans	399	1,201
Substandard [Member] | Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	5,272	4,928
Substandard [Member] | Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	22,939	26,153
Substandard [Member] | Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Loans	$ 955	$ 171

LOANS (Schedule of Activity in

LOANS (Schedule of Activity in Allowance for Loan Losses) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for loan losses
Beginning ALLL				$ 25,856				$ 19,480				$ 15,373	$ 25,856	$ 19,480	$ 15,373
Charge-Offs													(1,690)	(991)	(1,088)
Recoveries													542	267	320
Provision (Credit)	$ 1,500	$ 2,100	$ 2,200	1,700	$ 1,950	$ 1,600	$ 2,200	1,350	$ 1,250	$ 1,150	$ 1,150	1,325	7,500	7,100	4,875
Ending ALLL	32,208				25,856				19,480				32,208	25,856	19,480
Residential Portfolio Segment [Member] | Junior Lien [Member]
Allowance for loan losses
Beginning ALLL				66				109				156	66	109	156
Charge-Offs														(13)	(1)
Recoveries													140	62	103
Provision (Credit)													(190)	(92)	(149)
Ending ALLL	16				66				109				16	66	109
Consumer and Other [Member]
Allowance for loan losses
Beginning ALLL				112				96				78	112	96	78
Charge-Offs													(5)	(41)	(22)
Recoveries													12	13	7
Provision (Credit)													124	44	33
Ending ALLL	243				112				96				243	112	96
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				2,297				2,923				2,361	2,297	2,923	2,361
Charge-Offs													(1,047)	(638)	(273)
Recoveries													28	80	1
Provision (Credit)													2,388	(68)	834
Ending ALLL	3,666				2,297				2,923				3,666	2,297	2,923
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				86				156				181	86	156	181
Charge-Offs													(91)	(210)
Recoveries													15	2
Provision (Credit)													223	138	(25)
Ending ALLL	233				86				156				233	86	156
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				11,813				8,983				4,003	11,813	8,983	4,003
Provision (Credit)													(621)	2,830	4,980
Ending ALLL	11,192				11,813				8,983				11,192	11,813	8,983
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				1,679				1,547				2,563	1,679	1,547	2,563
Charge-Offs													(11)		(669)
Recoveries													72	11	106
Provision (Credit)													34	121	(453)
Ending ALLL	1,774				1,679				1,547				1,774	1,679	1,547
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				7,590				4,751				5,083	7,590	4,751	5,083
Charge-Offs													(520)	(16)
Recoveries													246	18	18
Provision (Credit)													3,593	2,837	(350)
Ending ALLL	10,909				7,590				4,751				10,909	7,590	4,751
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				2				31				120	2	31	120
Provision (Credit)													7	(29)	(89)
Ending ALLL	9				2				31				9	2	31
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL				2,209				880				825	2,209	880	825
Charge-Offs													(16)	(73)	(123)
Recoveries													29	81	85
Provision (Credit)													1,942	1,321	93
Ending ALLL	4,164				2,209				880				4,164	2,209	880
Agricultural Sector [Member]
Allowance for loan losses
Beginning ALLL				$ 2				$ 4				$ 3	2	4	3
Provision (Credit)														(2)	1
Ending ALLL	$ 2				$ 2				$ 4				$ 2	$ 2	$ 4

LOANS (Schedule of Loans Modifi

LOANS (Schedule of Loans Modified as Troubled Debt Restructurings) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)N	Dec. 31, 2015USD ($)N	Dec. 31, 2014USD ($)N
Number of Contracts | N	9	13	9
Pre-Modification Outstanding Recorded Investment	$ 4,780	$ 4,104	$ 3,419
Post-Modification Outstanding Recorded Investment	$ 4,780	$ 4,104	$ 3,419
Residential Portfolio Segment [Member] | Junior Lien [Member]
Number of Contracts | N	1	1
Pre-Modification Outstanding Recorded Investment	$ 63	$ 58
Post-Modification Outstanding Recorded Investment	$ 63	$ 58
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Number of Contracts | N	7	11	8
Pre-Modification Outstanding Recorded Investment	$ 4,691	$ 3,296	$ 2,138
Post-Modification Outstanding Recorded Investment	$ 4,691	$ 3,296	$ 2,138
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Number of Contracts | N		1	1
Pre-Modification Outstanding Recorded Investment		$ 750	$ 1,281
Post-Modification Outstanding Recorded Investment		$ 750	$ 1,281
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Number of Contracts | N	1
Pre-Modification Outstanding Recorded Investment	$ 26
Post-Modification Outstanding Recorded Investment	$ 26

LOANS (Schedule of Modified as

LOANS (Schedule of Modified as Troubled Debt Restructurings Subsequently Defaulted) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)N
Number of Subsequently Defaulted Contracts | N	1
Subsequently Defaulted Recorded Investment | $	$ 269
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Number of Subsequently Defaulted Contracts | N	1
Subsequently Defaulted Recorded Investment | $	$ 269

PREMISES AND EQUIPMENT (Narrati

PREMISES AND EQUIPMENT (Narrative) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2015USD ($)N	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2011USD ($)
Depreciation		$ 3,093	$ 3,921	$ 2,993
Depreciation expense on leased assets		607	607	531
Gain on leaseback transaction of Gladstone property deferred					$ 764
Charge to operations for closings			1,735
Facility Closing [Member]
Depreciation	$ 723
Number of stores closed | N	2
Charge to operations for closings	$ 2,500
Gladstone Property [Member]
Depreciation		$ 141	$ 141	$ 141

PREMISES AND EQUIPMENT (Schedul

PREMISES AND EQUIPMENT (Schedule of Premises and Equipment) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Premises and equipment, gross	$ 59,504	$ 56,348
Less: accumulated depreciation	29,133	26,102
Total	30,371	30,246
Land and Land Improvements [Member]
Premises and equipment, excluding lease asset	6,160	4,942
Buildings [Member]
Premises and equipment, excluding lease asset	11,982	11,970
Furniture and Equipment [Member]
Premises and equipment, excluding lease asset	17,572	16,857
Leasehold Improvements [Member]
Premises and equipment, excluding lease asset	11,138	10,423
Projects in Progress [Member]
Premises and equipment, excluding lease asset	1,415	919
Capital Lease Asset [Member]
Capital lease asset	11,237	11,237
Premises and equipment, gross	11,237	11,237
Less: accumulated depreciation	3,915	3,167
Total	$ 7,322	$ 8,070

PREMISES AND EQUIPMENT (Sched71

PREMISES AND EQUIPMENT (Schedule of Future Minimum Lease Payments) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Future Minimum Payments under capitalized leases
2,017	$ 1,081
2,018	1,127
2,019	1,146
2,020	1,195
2,021	1,232
Thereafter	6,587
Total minimum lease payments	12,368
Less amount representing interest	2,675
Present value of net minimum lease payments	$ 9,693

OTHER REAL ESTATE OWNED (Narrat

OTHER REAL ESTATE OWNED (Narrative) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Other Real Estate [Abstract]
Other real estate owned	$ 534	$ 563

OTHER REAL ESTATE OWNED (Schedu

OTHER REAL ESTATE OWNED (Schedule of Activity in Other Real Estate Owned, Excluding Valuation Allowance) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Other Real Estate [Abstract]
Balance, beginning of year	$ 3,233	$ 3,744
OREO properties added	534	233
Sales during year	(3,233)	(744)
Balance, end of year	$ 534	$ 3,233

OTHER REAL ESTATE OWNED (Sche74

OTHER REAL ESTATE OWNED (Schedule of Activity in Valuation Allowance) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Real Estate [Abstract]
Balance, beginning of year	$ 2,670	$ 2,420	$ 2,020
Additions charged to expense		250	400
Direct writedowns	$ (2,670)
Balance, end of year		$ 2,670	$ 2,420

OTHER REAL ESTATE OWNED (Sche75

OTHER REAL ESTATE OWNED (Schedule of Expenses Related to Other Real Estate Owned) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other Real Estate [Abstract]
Net gain on sales	$ (5)		$ (139)
Provision for unrealized losses		$ 250	400
Operating expenses, net of rental income	59	51	179
Total	$ 54	$ 301	$ 440

DEPOSITS (Details of Total Depo

DEPOSITS (Details of Total Deposits) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deposits [Abstract]
Time deposits over $250,000	$ 118,700	$ 115,600
Deposits:
Noninterest-bearing demand deposits	489,485	419,887
Interest-bearing deposits checking	1,023,081	861,697
Savings	120,056	115,007
Money market	1,048,494	810,709
Certificates of deposit	457,000	434,450
Interest-bearing demand - Brokered	180,000	200,000
Certificates of deposit - Brokered	93,721	93,720
Total deposits	$ 3,411,837	$ 2,935,470
%
Noninterest-bearing demand deposits	14.35%	14.30%
Interest-bearing checking	29.99%	29.36%
Savings	3.52%	3.92%
Money market	30.73%	27.62%
Certificates of deposit	13.39%	14.80%
Interest-bearing demand - Brokered	5.27%	6.81%
Certificates of deposit - Brokered	2.75%	3.19%
Total deposits	100.00%	100.00%

DEPOSITS (Scheduled Maturities

DEPOSITS (Scheduled Maturities of Time Deposits) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Scheduled maturities of time deposits
2,017	$ 152,113
2,018	203,630
2,019	71,084
2,020	34,420
2,021	18,539
Over 5 Years	70,935
Total	$ 550,721

FEDERAL HOME LOAN BANK ADVANC78

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2016
Debt Disclosure [Abstract]
Advances from Federal Home Loan Banks	$ 83,700	$ 61,795
FHLB interest rate	1.78%	2.02%
Advances with fixed maturity dates	$ 71,700	$ 49,800
Weighted average interest rate on fixed maturity advances	1.57%	1.78%
Residential mortgages pledged as collateral for advances	$ 428,200	$ 468,300
Multifamily mortgage loans pledged as collateral for advances	1,100,000	1,200,000
Callable variable rate advances	$ 12,000	$ 12,000
Weighted average interest rate on variable advances (in percent)	3.01%	3.01%
Investment pledges against advances	$ 13,200	$ 14,600
Overnight borrowings of debt	$ 40,700
Average interest rate of FHLB advances	0.52%
Unused commitments from FHLB		1,100,000
Unused short-term or overnight borrowings from correspondent banks		22,000
Unused short-term or overnight borrowings from FRB		$ 632,000

FEDERAL HOME LOAN BANK ADVANC79

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Schedule of Maturities) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Federal Home Loan Bank Advances Maturities Summary
2,017	$ 23,897
2,018	34,898
2,019	3,000
Total	$ 61,795	$ 83,700

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Loans held for sale, at fair value	$ 1,200	$ 1,558
Impaired collateral loans recorded investment	408	299
Impaired collateral loans valuation allowance	$ 163	48
Provision for ORE losses		$ 250	$ 400
Loans Receivable [Member] | Property A [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	15.00%
Age of appraisal	12 months

FAIR VALUE (Schedule of Assets

FAIR VALUE (Schedule of Assets Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Securities available for sale	$ 305,388	$ 195,630
Loans held for sale, at fair value	1,200	1,558
U.S. Government-Sponsored Entities [Member]
Securities available for sale	21,517
Mortgage-Backed Securities-Residential [Member]
Securities available for sale	237,617	160,607
SBA Pool Securities [Member]
Securities available for sale	6,713	7,520
State and Political Subdivisions [Member]
Securities available for sale	28,993	22,029
Corporate Bonds [Member]
Securities available for sale	3,113
Single-Issuer Trust Preferred Security [Member]
Securities available for sale	2,610	2,535
CRA Investment Fund [Member]
Securities available for sale	4,825	2,939
Recurring Basis [Member]
Loans held for sale, at fair value	1,200	1,558
Total	308,254	198,398
Derivatives	(2,410)	(2,540)
Recurring Basis [Member] | U.S. Government-Sponsored Entities [Member]
Securities available for sale	21,517
Recurring Basis [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale	237,617	160,607
Recurring Basis [Member] | SBA Pool Securities [Member]
Securities available for sale	6,713	7,520
Recurring Basis [Member] | State and Political Subdivisions [Member]
Securities available for sale	28,993	22,029
Recurring Basis [Member] | Corporate Bonds [Member]
Securities available for sale	3,113
Recurring Basis [Member] | Single-Issuer Trust Preferred Security [Member]
Securities available for sale	2,610	2,535
Recurring Basis [Member] | CRA Investment Fund [Member]
Securities available for sale	4,825	2,939
Recurring Basis [Member] | Designated as Hedging Instrument [Member]
Derivatives	123	104
Derivatives	(867)	(1,434)
Recurring Basis [Member] | Not Designated as Hedging Instrument [Member]
Derivatives	1,543	1,106
Derivatives	(1,543)	(1,106)
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member]
Loans held for sale, at fair value	1,200	1,558
Total	303,429	195,459
Derivatives	(2,410)	(2,540)
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | U.S. Government-Sponsored Entities [Member]
Securities available for sale	21,517
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale	237,617	160,607
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | SBA Pool Securities [Member]
Securities available for sale	6,713	7,520
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | State and Political Subdivisions [Member]
Securities available for sale	28,993	22,029
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | Corporate Bonds [Member]
Securities available for sale	3,113
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | Single-Issuer Trust Preferred Security [Member]
Securities available for sale	2,610	2,535
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | Designated as Hedging Instrument [Member]
Derivatives	123	104
Derivatives	(867)	(1,434)
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | Not Designated as Hedging Instrument [Member]
Derivatives	1,543	1,106
Derivatives	(1,543)	(1,106)
Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Recurring Basis [Member]
Total	4,825	2,939
Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Recurring Basis [Member] | CRA Investment Fund [Member]
Securities available for sale	$ 4,825	$ 2,939

FAIR VALUE (Schedule of Residen

FAIR VALUE (Schedule of Residential Loans Held for Sale, at Fair Value) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Residential loans contractual balance	$ 1,181	$ 1,536
Fair value adjustment	19	22
Total fair value of residential loans held for sale	$ 1,200	$ 1,558

FAIR VALUE (Schedule of Asset83

FAIR VALUE (Schedule of Assets Measured on a Non-Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
OREO	$ 534	$ 563
Non-Recurring Basis [Member]
OREO		330
Non-Recurring Basis [Member] | Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Impaired loans		251
Non-Recurring Basis [Member] | Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Impaired loans	245
Significant Unobservable Inputs (Level 3) [Member] | Non-Recurring Basis [Member]
OREO		330
Significant Unobservable Inputs (Level 3) [Member] | Non-Recurring Basis [Member] | Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Impaired loans		$ 251
Significant Unobservable Inputs (Level 3) [Member] | Non-Recurring Basis [Member] | Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Impaired loans	$ 245

FAIR VALUE (Schedule of Financi

FAIR VALUE (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Financial Assets:
Securities available for sale	$ 305,388	$ 195,630
FHLB and FRB Stock	13,813	13,984
Loans held for sale, at fair value	1,200	1,558
Multifamily mortgage loans held for sale, at lower of cost or fair value	388	82,200
Accrued interest receivable	8,153	6,820
Financial Liabilities:
Federal home loan bank advances	61,795	83,700
Fair value [Member]
Financial Assets:
Cash and cash equivalents	162,691	70,160
Securities available for sale	305,388	195,630
FHLB and FRB Stock
Loans held for sale, at fair value	1,200	1,558
Multifamily mortgage loans held for sale, at lower of cost or fair value	428	82,200
Loans, net of allowance for loan losses	3,256,837	2,865,601
Accrued interest receivable	8,153	6,820
Financial Liabilities:
Deposits	3,410,448	2,933,526
Overnight borrowings		40,700
Federal home loan bank advances	62,286	84,409
Subordinated debt	48,768
Accrued interest payable	1,127	957
Fair value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	1,543	1,106
Financial Liabilities:
Derivatives	1,543	1,106
Fair value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	123	104
Financial Liabilities:
Derivatives	867	1,434
Carrying Value [Member]
Financial Assets:
Cash and cash equivalents	162,691	70,160
Securities available for sale	305,388	195,630
FHLB and FRB Stock	13,813	13,984
Loans held for sale, at fair value	1,200	1,558
Multifamily mortgage loans held for sale, at lower of cost or fair value	388	82,200
Loans, net of allowance for loan losses	3,279,936	2,887,386
Accrued interest receivable	8,153	6,820
Financial Liabilities:
Deposits	3,411,837	2,935,470
Overnight borrowings		40,700
Federal home loan bank advances	61,795	83,692
Subordinated debt	48,764
Accrued interest payable	1,127	957
Carrying Value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	1,543	1,106
Financial Liabilities:
Derivatives	1,543	1,106
Carrying Value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	123	104
Financial Liabilities:
Derivatives	867	1,434
Significant Unobservable Inputs (Level 3) [Member] | Fair value [Member]
Financial Assets:
Loans, net of allowance for loan losses	3,256,837	2,865,601
Accrued interest receivable	7,254	6,258
Financial Liabilities:
Subordinated debt	48,768
Significant Other Observable Inputs (Level 2) [Member] | Fair value [Member]
Financial Assets:
Securities available for sale	300,563	192,691
Loans held for sale, at fair value	1,200	1,558
Multifamily mortgage loans held for sale, at lower of cost or fair value	428	82,200
Accrued interest receivable	899	562
Financial Liabilities:
Deposits	549,332	526,226
Overnight borrowings		40,700
Federal home loan bank advances	62,286	84,409
Accrued interest payable	966	829
Significant Other Observable Inputs (Level 2) [Member] | Fair value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	1,543	1,106
Financial Liabilities:
Derivatives	1,543	1,106
Significant Other Observable Inputs (Level 2) [Member] | Fair value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	123	104
Financial Liabilities:
Derivatives	867	1,434
Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Fair value [Member]
Financial Assets:
Cash and cash equivalents	162,691	70,160
Securities available for sale	4,825	2,939
Financial Liabilities:
Deposits	2,861,116	2,407,300
Accrued interest payable	$ 161	$ 128

OTHER OPERATING EXPENSES (Detai

OTHER OPERATING EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other operating expenses
Professional and legal fees	$ 3,459	$ 2,747	$ 1,873
FDIC insurance	4,758	2,154	1,381
Wealth Division other expense	2,029	2,147	1,896
Branch Restructure (Note 4)		1,735
Telephone	976	942	914
Advertising	824	637	594
Loan expense	715	426	532
Provision for ORE losses		250	400
Intangible amortization	123	82
Other operating expenses	5,980	5,959	5,746
Total other operating expenses	$ 18,864	$ 17,079	$ 13,336

INCOME TAXES (Narrative) (Detai

INCOME TAXES (Narrative) (Details)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income tax rate	35.00%

INCOME TAXES (Schedule of Incom

INCOME TAXES (Schedule of Income Tax Expense Included in Consolidated Financial Statements) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Federal:
Current expense/(benefit)													$ 13,207	$ 13,035	$ 10,251
Deferred expense/(benefit)													486	(3,210)	(2,626)
State:
Current expense/(benefit)													2,105	3,176	625
Deferred expense/(benefit)													466	(833)	1,146
Total income tax expense	$ 4,479	$ 4,422	$ 4,085	$ 3,278	$ 2,256	$ 3,434	$ 3,139	$ 3,339	$ 2,599	$ 2,393	$ 2,533	$ 1,871	$ 16,264	$ 12,168	$ 9,396

INCOME TAXES (Schedule of Total

INCOME TAXES (Schedule of Total Income Tax Expense Differed from Amounts Computed by Applying US Federal Income Tax Rate of 35 Percent to Income Before Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Computed "expected tax expense"													$ 14,959	$ 11,249	$ 8,500
(Decrease)/increase in income taxes resulting from:
Tax-exempt income													(496)	(316)	(152)
State income taxes													1,671	1,523	1,102
Bank owned life insurance income													(195)	(279)	(152)
Interest disallowance													95	40	9
Meals and entertainment expense													77	69	69
Stock-based compensation													15	86	60
Rate adjustment														(70)
Other													138	(134)	(40)
Total income tax expense	$ 4,479	$ 4,422	$ 4,085	$ 3,278	$ 2,256	$ 3,434	$ 3,139	$ 3,339	$ 2,599	$ 2,393	$ 2,533	$ 1,871	$ 16,264	$ 12,168	$ 9,396

INCOME TAXES (Schedule of Tax E

INCOME TAXES (Schedule of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred Tax assets:
Allowance for loan losses	$ 12,969	$ 10,437
Valuation allowance for OREO losses		1,084
Federal and state net operating loss carryforward		6
Lease adjustment	89	122
Post retirement benefits	443	445
Prepaid alternative minimum assessment	283	283
Contribution limitation	235	237
Charitable contribution carryforward		32
Organization costs	22	24
Cash flow hedge	304	544
Unrealized loss on securities available for sale	668
Stock option expense	387	414
Nonaccrual interest	25	127
Accrued compensation	1,993	3,349
Capital leases	1,075	1,407
Total gross deferred tax assets	18,493	18,511
Deferred tax liabilities:
Bank premises and equipment, principally due to differences in depreciation	800	767
Unrealized gain on securities available for sale		262
Deferred loan origination costs and fees	1,535	1,114
Deferred income	790	721
Investment securities, principally due to the accretion of bond discount	4	29
Other	44	36
Total gross deferred tax liabilities	3,173	2,929
Net deferred tax asset	$ 15,320	$ 15,582

BENEFIT PLANS (Details)

BENEFIT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
401(K) Plan [Member]
Contributions to the plan	$ 1.6	$ 1.6	$ 1.4

STOCK-BASED COMPENSATION (Narra

STOCK-BASED COMPENSATION (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Shares available for grant		1,442,381
Closing stock price of common stock		$ 30.88
Employee Stock Option [Member]
Option term		10 years
Vesting term		5 years
Unrecognized compensation cost		$ 5
Weighted average period, unrecognized compensation expected to be recognized (in years)		4 months 2 days
Weighted-average fair value of stock options granted (in dollars per share)				$ 7.50
Total compensation cost		$ 56	$ 219	$ 234
Restricted stock [Member]
Unrecognized compensation cost		$ 4,600
Weighted average period, unrecognized compensation expected to be recognized (in years)		1 year 6 months
Total compensation cost		$ 2,800	$ 1,500	$ 1,500
Restricted stock [Member] | Share-based Compensation Award, Tranche Two [Member]
Vesting term		5 years
Restricted stock [Member] | Share-based Compensation Award, Tranche One [Member]
Vesting term		3 years
Performance Shares [Member]
Unrecognized compensation cost		$ 1,700
Reversal of previously recorded amounts	$ 592

STOCK-BASED COMPENSATION (Sched

STOCK-BASED COMPENSATION (Schedule of Changes in Options Outstanding) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
Number of Options
Balance | shares	267,289
Granted | shares
Exercised | shares	(70,527)
Expired | shares	(16,729)
Forfeited | shares	(874)
Balance | shares	179,159
Vested and expected to vest | shares	178,663
Exercisable | shares	170,896
Weighted Average Exercise Price
Balance | $ / shares	$ 17.28
Granted | $ / shares
Exercised | $ / shares	18.94
Expired | $ / shares	21.31
Forfeited | $ / shares	13.51
Balance | $ / shares	16.27
Vested and expected to vest | $ / shares	16.31
Exercisable | $ / shares	$ 16.41
Weighted Average Remaining Contractual Term
Balance	3 years 9 months 7 days
Vested and Expected to Vest	3 years 9 months 7 days
Exercisable	3 years 8 months 5 days
Aggregate Intrinsic Value
Balance | $	$ 2,618
Vested and expected to vest | $	2,603
Exercisable | $	$ 2,472

STOCK-BASED COMPENSATION (Sch93

STOCK-BASED COMPENSATION (Schedule of Weighted Average Assumptions) (Details)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Dividend Yield	1.02%
Expected volatility	40.00%
Expected life	7 years
Risk-free interest rate	2.18%

STOCK-BASED COMPENSATION (Sch94

STOCK-BASED COMPENSATION (Schedule of Changes in Restricted Common Shares) (Details)	12 Months Ended
	Dec. 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	188,397
Vested | shares	(118,343)
Forfeited | shares	(23,345)
Balance at end | shares	368,130
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 19.44
Granted | $ / shares	16.99
Vested | $ / shares	19.05
Forfeited | $ / shares	18.75
Balance at end | $ / shares	$ 19.26

COMMITMENTS AND CONTINGENCIES95

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Rental Expense	$ 2.4	$ 2.6	$ 2.5
Commitments to Extend Credit [Member]
Commitments to extend credit	434.4	282.1
Standby Letters of Credit [Member]
Commitments to extend credit	$ 12.8	$ 10.4

COMMITMENTS AND CONTINGENCIES96

COMMITMENTS AND CONTINGENCIES (Schedule of Minimum Annual Lease Payments Under Terms of Operating Lease Agreements) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Minimum annual lease payments operating lease agreements
2,017	$ 1,821
2,018	1,670
2,019	1,364
2,020	1,358
2,021	1,155
Thereafter	1,953
Total	$ 9,321

REGULATORY CAPITAL (Details)

REGULATORY CAPITAL (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
The Bank [Member]
Total Capital
Total Capital (to risk-weighted assets)	$ 392,305	$ 297,497
Total Capital (to risk-weighted assets) ratio	12.87%	11.32%
Minimum Capital required to be well-capitalized	$ 304,758	$ 262,719
Minimum Capital required to be well-capitalized, ratio	10.00%	10.00%
Minimum amount of capital for adequacy purposes	$ 243,806	$ 210,176
Minimum amount of capital for adequacy purposes, ratio	8.00%	8.00%
Tier 1 Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 360,097	$ 271,641
Tier 1 Capital (to risk-weighted assets) ratio	11.82%	10.34%
Minimum Tier 1 Capital required to be well-capitalized	$ 243,806	$ 210,176
Minimum Tier 1 Capital required to be well-capitalized, ratio	8.00%	8.00%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 182,855	$ 157,632
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6.00%	6.00%
Common equity tier I
Common equity tier I (to risk-weighted assets)	$ 360,094	$ 271,641
Common equity tier I (to risk-weighted assets) ratio	11.82%	10.34%
Minimum common equity tier I required to be well-capitalized	$ 198,093	$ 170,768
Minimum common equity tier I required to be well-capitalized, ratio	6.50%	6.50%
Minimum amount of common equity tier I for adequacy purposes	$ 137,141	$ 118,224
Minimum amount of common equity tier I for adequacy purposes, ratio	4.50%	4.50%
Tier 1 Leverage Capital (to average assets)
Tier 1 Capital (to average assets)	$ 360,097	$ 271,641
Tier 1 Capital (to average assets) ratio	9.31%	8.04%
Minimum Tier 1 Capital required to be well-capitalized	$ 193,430	$ 169,027
Minimum Tier 1 Capital required to be well-capitalized, ratio	5.00%	5.00%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 154,744	$ 135,221
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.00%	4.00%
The Bank [Member] | Conservation Buffer [Member]
Total Capital
Minimum amount of capital for adequacy purposes	$ 262,854
Minimum amount of capital for adequacy purposes, ratio	8.625%
Tier 1 Capital (to risk-weighted assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 201,902
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6.625%
Common equity tier I
Minimum amount of common equity tier I for adequacy purposes	$ 156,188
Minimum amount of common equity tier I for adequacy purposes, ratio	5.125%
Tier 1 Leverage Capital (to average assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 154,744
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.00%
Parent Company [Member]
Total Capital
Total Capital (to risk-weighted assets)	$ 404,017	$ 299,593
Total Capital (to risk-weighted assets) ratio	13.25%	11.40%
Minimum amount of capital for adequacy purposes	$ 243,910	$ 210,209
Minimum amount of capital for adequacy purposes, ratio	8.00%	8.00%
Tier 1 Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 323,045	$ 273,738
Tier 1 Capital (to risk-weighted assets) ratio	10.60%	10.42%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 182,933	$ 157,657
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6.00%	6.00%
Common equity tier I
Common equity tier I (to risk-weighted assets)	$ 323,042	$ 273,738
Common equity tier I (to risk-weighted assets) ratio	10.60%	10.42%
Minimum amount of common equity tier I for adequacy purposes	$ 137,200	$ 118,242
Minimum amount of common equity tier I for adequacy purposes, ratio	4.50%	4.50%
Tier 1 Leverage Capital (to average assets)
Tier 1 Capital (to average assets)	$ 323,045	$ 273,738
Tier 1 Capital (to average assets) ratio	8.35%	8.10%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 154,788	$ 135,237
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.00%	4.00%
Parent Company [Member] | Conservation Buffer [Member]
Total Capital
Minimum amount of capital for adequacy purposes	$ 262,966
Minimum amount of capital for adequacy purposes, ratio	8.625%
Tier 1 Capital (to risk-weighted assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 201,988
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6.625%
Common equity tier I
Minimum amount of common equity tier I for adequacy purposes	$ 156,255
Minimum amount of common equity tier I for adequacy purposes, ratio	5.125%
Tier 1 Leverage Capital (to average assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 154,788
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.00%

DERIVATIVES (Details)

DERIVATIVES (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Interest expense	$ 5,691	$ 5,575	$ 4,859	$ 4,488	$ 4,304	$ 4,100	$ 3,508	$ 2,778	$ 2,434	$ 2,162	$ 1,707	$ 1,378	$ 20,613	$ 14,690	$ 7,681
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount	$ 180,000				$ 180,000								$ 180,000	$ 180,000
Weighted average pay rate	1.64%				1.64%								1.64%	1.64%
Weighted average receive rate	0.58%				0.29%								0.58%	0.29%
Weighted average maturity													3 years 3 months	4 years 3 months
Unrealized loss, net													$ (744)	$ (1,330)
Interest expense													2,000	1,600
Amount of Gain/(Loss) Recognized In OCI (Effective Portion)													587	(1,162)
Fair Value	$ (744)				$ (1,330)								(744)	(1,330)
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount	$ 126,810				$ 27,259								$ 126,810	$ 27,259
Weighted average pay rate	3.75%				3.06%								3.75%	3.06%
Weighted average receive rate	2.65%				1.44%								2.65%	1.44%
Weighted average maturity													9 years 4 months 24 days	15 years 9 months 18 days
Fair Value	$ 1,543				$ 1,106								$ 1,543	$ 1,106
Other Liabilities [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount	150,000				165,000								150,000	165,000
Fair Value	(867)				(1,434)								(867)	(1,434)
Other Assets [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount	30,000				15,000								30,000	15,000
Fair Value	$ 123				$ 104								$ 123	$ 104

SHAREHOLDERS EQUITY (Details)

SHAREHOLDERS EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Shares issued, price per share			$ 18.01
Net proceeds, rights offering			$ 48,358
Offering costs			216
Portion of proceeds dedicated to equity			48,200
Quarterly cash payment that may be made under Dividend Reinvestment Program	$ 200
Percent of fair market value which shares may be purchased at under the DRIP	97.00%
Fair market value discount	3.00%
Sale of shares (dividend reinvestment program)	$ 22,461	$ 13,648	$ 7,429
Shares purchased under voluntary purchase	1,134,068	661,857
Common Stock [Member]
Class of Stock [Line Items]
Issuance of stock offering net of costs, shares			2,776,215
Sale of shares (dividend reinvestment program), shares	1,137,998	665,654	416,057
Sale of shares (dividend reinvestment program)	$ 948	$ 555	$ 347

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2016USD ($)segments	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Number of Operating Segments | segments													2
Net interest income	$ 24,580	$ 24,269	$ 24,176	$ 23,410	$ 22,819	$ 21,706	$ 20,344	$ 19,583	$ 18,352	$ 17,048	$ 16,923	$ 15,571	$ 96,435	$ 84,452	$ 67,894
Noninterest income													28,918	23,714	20,807
Total income													125,353	108,166	88,701
Provision for loan losses	1,500	2,100	2,200	1,700	1,950	1,600	2,200	1,350	1,250	1,150	1,150	1,325	7,500	7,100	4,875
Compensation and benefits													45,003	40,278	36,241
Premises and equipment													11,245	11,569	9,963
Other noninterest expense													18,864	17,079	13,336
Total noninterest expense													82,612	76,026	64,415
Income before income tax expense	11,787	11,538	10,649	8,767	6,599	8,817	8,377	8,347	6,811	6,257	6,316	4,902	42,741	32,140	24,286
Income tax expense	4,479	4,422	4,085	3,278	2,256	3,434	3,139	3,339	2,599	2,393	2,533	1,871	16,264	12,168	9,396
Net income	7,308	$ 7,116	$ 6,564	$ 5,489	4,343	$ 5,383	$ 5,238	$ 5,008	4,212	$ 3,864	$ 3,783	$ 3,031	26,477	19,972	14,890
Total assets at period end	3,878,633				3,364,659				2,702,397				3,878,633	3,364,659	2,702,397
Banking [Member]
Net interest income													91,334	80,190	64,148
Noninterest income													10,217	6,434	5,336
Total income													101,551	86,624	69,484
Provision for loan losses													7,500	7,100	4,875
Compensation and benefits													36,463	32,133	28,679
Premises and equipment													10,300	10,634	9,207
Other noninterest expense													13,523	12,203	8,922
Total noninterest expense													67,786	62,070	51,683
Income before income tax expense													33,765	24,554	17,801
Income tax expense													12,772	9,217	6,873
Net income													20,993	15,337	10,928
Total assets at period end	3,832,765				3,326,219				2,676,103				3,832,765	3,326,219	2,676,103
Wealth Management Division [Member]
Net interest income													5,101	4,262	3,746
Noninterest income													18,701	17,280	15,471
Total income													23,802	21,542	19,217
Provision for loan losses
Compensation and benefits													8,540	8,145	7,562
Premises and equipment													945	935	756
Other noninterest expense													5,341	4,876	4,414
Total noninterest expense													14,826	13,956	12,732
Income before income tax expense													8,976	7,586	6,485
Income tax expense													3,492	2,951	2,523
Net income													5,484	4,635	3,962
Total assets at period end	$ 45,868				$ 38,440				$ 26,294				$ 45,868	$ 38,440	$ 26,294

SUBORDINATED DEBT (Details)

SUBORDINATED DEBT (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)
Subordinated Debt [Member]
Debt Instrument [Line Items]
Principal amount	$ 50
Non-callable term	5 years
Notes maturity date	Jun. 30, 2026
Fixed interest rate	6.00%
LIBOR spread	4.85%
Debt issuance costs	$ 1.3
Parent Company [Member]
Debt Instrument [Line Items]
Net proceeds used to contribute to the Bank	40
Proceeds from debt retained by parent	$ 10

ACQUISITION (Details)

ACQUISITION (Details) - USD ($) $ / shares in Units, $ in Thousands	May 01, 2015	Dec. 31, 2016	Dec. 31, 2015
Recognized amounts of identifiable assets acquired
Goodwill		$ 1,573	$ 1,573
Intangible Assets
Gross Carrying Amount		1,741	1,741
Accumulated Amortization		206	82
Net		1,535	1,659
Amortization of intangible assets		123	82
Estimated amortization expense
2,017		123
2,018		123
2,019		123
2,020		116
2,021		112
Total		597
Wealth Management Division [Member]
Recognized amounts of identifiable assets acquired
Goodwill		1,000
Banking [Member]
Recognized amounts of identifiable assets acquired
Goodwill		563
Customer Relationships [Member]
Intangible Assets
Gross Carrying Amount		1,685	1,685
Accumulated Amortization		187	75
Net		1,498	1,610
Noncompete Agreements [Member]
Intangible Assets
Gross Carrying Amount		56	56
Accumulated Amortization		19	7
Net		$ 37	$ 49
Wealth Management Company [Member]
Consideration
Cash	$ 800
Equity Instruments	2,000
Fair value of total consideration transferred	2,800
Recognized amounts of identifiable assets acquired
Intangibles	1,800
Goodwill	1,010
Total assets acquired	2,800
Wealth Management Company [Member] | Customer Relationships [Member]
Recognized amounts of identifiable assets acquired
Intangibles	1,685
Wealth Management Company [Member] | Other Intangible Assets [Member]
Recognized amounts of identifiable assets acquired
Intangibles	105
Wealth Management Company [Member] | Common Share Warrants [Member]
Consideration
Equity Instruments	$ 1
Recognized amounts of identifiable assets acquired
Number of equity instruments paid	139,860
Fair value per share	$ 7.15
Valuation assumptions
Dividend yield	0.93%
Expected volatility	33.73%
Expected life	7 years
Risk-free interest rate	1.84%
Wealth Management Company [Member] | Common Stock [Member]
Recognized amounts of identifiable assets acquired
Number of equity instruments paid	47,916

ACCUMULATED OTHER COMPREHENS103

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME (Schedule of Accumulated Other Comprehensive Income Balances, Net of Tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 275,676	$ 242,267	$ 170,657
Total other comprehensive (loss)/income	(1,152)	(1,600)	1,198
Balance	324,210	275,676	242,267
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	23
Other Comprehensive Income/(Loss) Before Reclassifications	(1,424)	(602)	1,467
Amount Reclassified From Accumulated Other Comprehensive (Income)	(75)	(311)	(169)
Total other comprehensive (loss)/income	(1,499)	(913)	1,298
Balance	(1,091)	408	1,321
Losses on Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(787)	(100)
Other Comprehensive Income/(Loss) Before Reclassifications	347	(687)	(100)
Total other comprehensive (loss)/income	347	(687)	(100)
Balance	(440)	(787)	(100)
Accumulated Other Comprehensive Income/(Loss), Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(379)	1,221	23
Other Comprehensive Income/(Loss) Before Reclassifications	(1,077)	(1,289)	1,367
Amount Reclassified From Accumulated Other Comprehensive (Income)	(75)	(311)	(169)
Total other comprehensive (loss)/income	(1,152)	(1,600)	1,198
Balance	$ (1,531)	$ (379)	$ 1,221

ACCUMULATED OTHER COMPREHENS104

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME (Schedule of Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities gains, net			$ 18	$ 101		$ 83	$ 176	$ 268	$ 44	$ 39	$ 79	$ 98	$ 119	$ 527	$ 260
Income tax expense	(4,479)	(4,422)	(4,085)	(3,278)	(2,256)	(3,434)	(3,139)	(3,339)	(2,599)	(2,393)	(2,533)	(1,871)	(16,264)	(12,168)	(9,396)
Net income	$ 7,308	$ 7,116	$ 6,564	$ 5,489	$ 4,343	$ 5,383	$ 5,238	$ 5,008	$ 4,212	$ 3,864	$ 3,783	$ 3,031	26,477	19,972	14,890
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense													(44)	(216)	(91)
Net income													75	311	169
Reclassification out of Accumulated Other Comprehensive Income [Member] | Net Unrealized Holding Gain/(Loss) on Securities Available for Sale, Net of Tax [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities gains, net													$ 119	$ 527	$ 260

CONDENSED FINANCIAL STATEMEN105

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF CONDITION) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets
Cash	$ 24,580	$ 11,550
Interest-earning deposits	138,010	58,509
Total cash and cash equivalents	162,691	70,160	$ 31,207	$ 35,147
Securities available for sale	305,388	195,630
Other assets	13,876	14,364
Total assets	3,878,633	3,364,659	2,702,397
Liabilities
Subordinated debt, net	48,764
Other liabilities	22,334	18,899
Total liabilities	3,554,423	3,088,983
Shareholders' equity
Common stock	14,717	13,717
Surplus	238,708	213,203
Treasury stock	(8,988)	(8,988)
Retained earnings	81,304	58,123
Accumulated other comprehensive loss	(1,531)	(379)
Total shareholders' equity	324,210	275,676	$ 242,267	$ 170,657
Total liabilities and shareholders' equity	3,878,633	3,364,659
Parent Company [Member]
Assets
Cash	10,330	1,489
Interest-earning deposits	515	515
Total cash and cash equivalents	10,845	2,004
Investment in subsidiary	361,262	273,580
Other assets	1,303	414
Total assets	373,410	275,998
Liabilities
Subordinated debt, net	48,764
Other liabilities	436	322
Total liabilities	49,200	322
Shareholders' equity
Common stock	14,717	13,717
Surplus	238,708	213,203
Treasury stock	(8,988)	(8,988)
Retained earnings	81,304	58,123
Accumulated other comprehensive loss	(1,531)	(379)
Total shareholders' equity	324,210	275,676
Total liabilities and shareholders' equity	$ 373,410	$ 275,998

CONDENSED FINANCIAL STATEMEN106

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF INCOME) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income
Other income													$ 28,918	$ 23,714	$ 20,807
Securities gains, net			$ 18	$ 101		$ 83	$ 176	$ 268	$ 44	$ 39	$ 79	$ 98	119	527	260
Expenses
Interest expenses	5,691	5,575	4,859	4,488	4,304	4,100	3,508	2,778	2,434	2,162	1,707	1,378	20,613	14,690	7,681
Other expenses													18,864	17,079	13,336
Total operating expenses	18,965	18,166	18,775	19,206	19,993	16,899	16,266	15,768	15,578	14,693	14,930	14,339
Income before income tax expense	11,787	11,538	10,649	8,767	6,599	8,817	8,377	8,347	6,811	6,257	6,316	4,902	42,741	32,140	24,286
Income tax benefit	4,479	4,422	4,085	3,278	2,256	3,434	3,139	3,339	2,599	2,393	2,533	1,871	16,264	12,168	9,396
Net income	$ 7,308	$ 7,116	$ 6,564	$ 5,489	$ 4,343	$ 5,383	$ 5,238	$ 5,008	$ 4,212	$ 3,864	$ 3,783	$ 3,031	26,477	19,972	14,890
Other comprehensive (loss)/income													(1,152)	(1,600)	1,198
Total comprehensive income													25,325	18,372	16,088
Parent Company [Member]
Income
Dividend from Bank
Other income													1	1	1
Total income													1	1	1
Expenses
Interest expenses													1,696
Other expenses													699	525	637
Total operating expenses													2,395	525	637
Income before income tax expense													(2,394)	(524)	(636)
Income tax benefit													(835)	(180)	(216)
Net loss before equity in undistributed earnings of Bank													(1,559)	(344)	(420)
Equity in undistributed earnings of Bank/(dividends in excess of earnings)													28,036	20,316	15,310
Net income													26,477	19,972	14,890
Other comprehensive (loss)/income													(1,152)	(1,600)	1,198
Total comprehensive income													$ 25,325	$ 18,372	$ 16,088

CONDENSED FINANCIAL STATEMEN107

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF CASH FLOWS) (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 7,308	$ 7,116	$ 6,564	$ 5,489	$ 4,343	$ 5,383	$ 5,238	$ 5,008	$ 4,212	$ 3,864	$ 3,783	$ 3,031	$ 26,477	$ 19,972	$ 14,890
Gain on securities available for sale													(119)	(527)	(260)
Amortization of subordinated debt costs													71
(Increase)/decrease in other assets													945	(476)	2,590
Increase/(decrease) in other liabilities													2,936	3,511	1,153
Net cash provided by operating activities													42,926	30,306	27,263
Cash flows from investing activities:
Proceeds from sales and calls of securities available for sale													5,499	46,254	35,411
Net cash used in investing activities													(433,175)	(625,427)	(745,159)
Cash flows from financing activities:
Cash dividends paid on common stock													(3,296)	(3,100)	(2,414)
Exercise of stock options, net stock swaps													1,069	86	174
Proceeds from issuance of subordinated debt													48,693
Net proceeds, rights offering															48,358
Issuance of common shares (DRIP program)													22,461	13,648	7,429
Purchase of shares of profit sharing plan															70
Net cash provided by financing activities													482,780	634,074	713,956
Net increase/(decrease) in cash and cash equivalents													92,531	38,953	(3,940)
Parent Company [Member]
Cash flows from operating activities:
Net income													26,477	19,972	14,890
Undistributed (earnings)/loss of Bank													(28,036)	(20,316)	(15,310)
Amortization of subordinated debt costs													71
(Increase)/decrease in other assets													(889)	(194)	427
Increase/(decrease) in other liabilities													114	81	(63)
Net cash provided by operating activities													(2,263)	(457)	(56)
Cash flows from investing activities:
Capital contribution to subsidiary													(57,823)	(18,000)	(88,674)
Net cash used in investing activities													(57,823)	(18,000)	(88,674)
Cash flows from financing activities:
Cash dividends paid on common stock													(3,296)	(3,100)	(2,414)
Exercise of stock options, net stock swaps													1,069	86	174
Proceeds from issuance of subordinated debt													48,693
Net proceeds, rights offering															48,358
Issuance of common shares (DRIP program)													22,461	13,648	7,429
Purchase of shares of profit sharing plan															70
Net cash provided by financing activities													68,927	10,634	53,617
Net increase/(decrease) in cash and cash equivalents													8,841	(7,823)	(35,113)
Cash and cash equivalents at beginning of period				$ 2,004				$ 9,827				$ 44,940	2,004	9,827	44,940
Cash and cash equivalents at end of period	$ 10,845				$ 2,004				$ 9,827				$ 10,845	$ 2,004	$ 9,827

SUPPLEMENTAL DATA (unaudited108

SUPPLEMENTAL DATA (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 30,271	$ 29,844	$ 29,035	$ 27,898	$ 27,123	$ 25,806	$ 23,852	$ 22,361	$ 20,786	$ 19,210	$ 18,630	$ 16,949	$ 117,048	$ 99,142	$ 75,575
Interest expense	5,691	5,575	4,859	4,488	4,304	4,100	3,508	2,778	2,434	2,162	1,707	1,378	20,613	14,690	7,681
Net interest income before provision for loan losses	24,580	24,269	24,176	23,410	22,819	21,706	20,344	19,583	18,352	17,048	16,923	15,571	96,435	84,452	67,894
Provision for loan losses	1,500	2,100	2,200	1,700	1,950	1,600	2,200	1,350	1,250	1,150	1,150	1,325	7,500	7,100	4,875
Wealth management fee income	4,610	4,436	4,899	4,295	4,307	4,169	4,532	4,031	3,822	3,661	4,005	3,754	18,240	17,039	15,242
Securities gains/(losses), net			18	101		83	176	268	44	39	79	98	119	527	260
Other income	3,062	3,099	2,531	1,867	1,416	1,358	1,791	1,583	1,421	1,352	1,389	1,143	1,638	373
Operating expenses	18,965	18,166	18,775	19,206	19,993	16,899	16,266	15,768	15,578	14,693	14,930	14,339
Income before income tax expense	11,787	11,538	10,649	8,767	6,599	8,817	8,377	8,347	6,811	6,257	6,316	4,902	42,741	32,140	24,286
Income tax expense	4,479	4,422	4,085	3,278	2,256	3,434	3,139	3,339	2,599	2,393	2,533	1,871	16,264	12,168	9,396
Net income	$ 7,308	$ 7,116	$ 6,564	$ 5,489	$ 4,343	$ 5,383	$ 5,238	$ 5,008	$ 4,212	$ 3,864	$ 3,783	$ 3,031	$ 26,477	$ 19,972	$ 14,890
EARNINGS PER COMMON SHARE
Earnings per share-basic	$ 0.44	$ 0.43	$ 0.41	$ 0.35	$ 0.28	$ 0.35	$ 0.34	$ 0.34	$ 0.32	$ 0.33	$ 0.32	$ 0.26	$ 1.62	$ 1.31	$ 1.23
Earnings per share-diluted	$ 0.43	$ 0.43	$ 0.40	$ 0.34	$ 0.28	$ 0.35	$ 0.34	$ 0.33	$ 0.32	$ 0.32	$ 0.32	$ 0.26	$ 1.60	$ 1.29	$ 1.22