Peapack-Gladstone Financial (PGC) 10-Q 8 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 28, 2017
Document And Entity Information
Entity Registrant Name	PEAPACK GLADSTONE FINANCIAL CORP
Entity Central Index Key	1,050,743
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		17,584,184
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017
Trading Symbol	PGC

CONSOLIDATED STATEMENTS OF COND

CONSOLIDATED STATEMENTS OF CONDITION - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and due from banks	$ 4,910	$ 24,580
Federal funds sold	101	101
Interest-earning deposits	113,953	138,010
Total cash and cash equivalents	118,964	162,691
Securities available for sale	300,232	305,388
FHLB and FRB stock, at cost	15,436	13,813
Residential mortgage loans held for sale, at fair value		1,200
Loans held for sale, at lower of cost or fair value	128	388
Loans	3,439,650	3,312,144
Less: Allowance for loan losses	33,610	32,208
Net loans	3,406,040	3,279,936
Premises and equipment	30,113	30,371
Other real estate owned	671	534
Accrued interest receivable	6,823	8,153
Bank owned life insurance	43,992	43,806
Deferred tax assets, net	15,325	15,320
Goodwill	1,573	1,573
Other intangible assets	1,553	1,584
Other assets	6,712	13,876
TOTAL ASSETS	3,947,562	3,878,633
Deposits:
Noninterest-bearing demand deposits	528,554	489,485
Interest-bearing deposits:
Interest-bearing deposits checking	1,015,178	1,023,081
Savings	122,262	120,056
Money market accounts	1,049,909	1,048,494
Certificates of deposit - Retail	440,991	457,000
Subtotal deposits	3,156,894	3,138,116
Interest-bearing demand - Brokered	180,000	180,000
Certificates of deposit - Brokered	93,750	93,721
Total deposits	3,430,644	3,411,837
Overnight borrowings with Federal Home Loan Bank	34,550
Federal Home Loan Bank advances	58,795	61,795
Capital lease obligation	9,556	9,693
Subordinated debt, net	48,796	48,764
Accrued expenses and other liabilities	24,293	22,334
TOTAL LIABILITIES	3,606,634	3,554,423
SHAREHOLDERS' EQUITY
Preferred stock (no par value; authorized 500,000 shares; liquidation preference of $1,000 per share)
Common stock (no par value; stated value $0.83 per share; 21,000,000 shares; issued shares, 17,987,452 at March 31, 2017 and 17,666,173 at December 31, 2016; outstanding shares, 17,579,274 at March 31, 2017 and 17,257,995 at December 31, 2016	14,991	14,717
Surplus	247,124	238,708
Treasury stock at cost, 408,178 shares at both March 31, 2017 and December 31, 2016	(8,988)	(8,988)
Retained earnings	88,423	81,304
Accumulated other comprehensive loss, net of income tax	(622)	(1,531)
TOTAL SHAREHOLDERS' EQUITY	340,928	324,210
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY	$ 3,947,562	$ 3,878,633

CONSOLIDATED STATEMENTS OF CON3

CONSOLIDATED STATEMENTS OF CONDITION (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value
Preferred stock, shares authorized	500,000	500,000
Preferred stock, liquidation preference per share	$ 1,000	$ 1,000
Common stock, stated value	$ 0.83	$ 0.83
Common stock, shares authorized	21,000,000	21,000,000
Common stock, shares issued	17,987,452	17,666,173
Common stock, shares outstanding	17,579,274	17,257,995
Treasury stock, shares	408,178	408,178

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
INTEREST INCOME
Interest and fees on loans	$ 29,492	$ 26,753
Interest on securities available for sale:
Taxable	1,504	926
Tax-exempt	121	121
Interest on loans held for sale	4	11
Interest on interest-earning deposits	264	87
Total interest income	31,385	27,898
INTEREST EXPENSE
Interest on savings and interest-bearing deposit accounts	1,812	1,160
Interest on certificates of deposit	1,570	1,489
Interest on borrowed funds	303	479
Interest on capital lease obligation	115	122
Interest on subordinated debt	783
Subtotal - interest expense	4,583	3,250
Interest on interest-bearing demand - brokered	720	741
Interest on certificates of deposits - brokered	491	497
Total Interest expense	5,794	4,488
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES	25,591	23,410
Provision for loan losses	1,600	1,700
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	23,991	21,710
OTHER INCOME
Wealth management fee income	4,818	4,295
Service charges and fees	771	807
Bank owned life insurance	322	342
Gains on loans held for sale at fair value (mortgage banking)	47	121
Gains on multifamily loans held for sale at lower of cost or fair value		124
Fee income related to loan level, back-to-back swaps	456	94
Gain on sale of SBA loans	155	47
Other income	450	332
Securities gains, net		101
Total other income	7,019	6,263
OPERATING EXPENSES
Compensation and employee benefits	11,913	10,908
Premises and equipment	2,816	2,864
FDIC insurance expense	686	1,559
Other operating expense	3,889	3,875
Total operating expenses	19,304	19,206
INCOME BEFORE INCOME TAX EXPENSE	11,706	8,767
Income tax expense	3,724	3,278
NET INCOME	$ 7,982	$ 5,489
EARNINGS PER SHARE
Basic (in dollars per share)	$ 0.47	$ 0.35
Diluted (in dollars per share)	$ 0.46	$ 0.34
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic (in shares)	17,121,631	15,858,278
Diluted (in shares)	17,438,907	16,016,972

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 7,982	$ 5,489
Unrealized gains/(loss) on available for sale securities:
Unrealized holding gains arising during the period	636	1,106
Less: Reclassification adjustment for net gains included in net income		101
Before tax	636	1,005
Tax effect	(239)	(380)
Net of tax	397	625
Unrealized gains/(loss) on cash flow hedges:
Unrealized holding gains/(loss)	865	(3,820)
Tax effect	(353)	1,560
Net of tax	512	(2,260)
Total other comprehensive income/(loss)	909	(1,635)
Total comprehensive income	$ 8,891	$ 3,854

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Surplus [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Balance at Dec. 31, 2015					$ (379)
Net income						$ 5,489
Other comprehensive income (loss)					(1,635)	(1,635)
Balance at Mar. 31, 2016					(2,014)
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
Net income				7,982		$ 7,982
Other comprehensive income (loss)					909	909
Restricted stock units issued	$ 51	(51)
Restricted stock units issued, shares	61,087
Restricted stock awards forfeitures	$ (1)	1
Restricted stock awards forfeitures, shares	(200)
Restricted stock repurchased on vesting to pay taxes	$ (37)	(1,286)				(1,323)
Restricted stock repurchased on vesting to pay taxes, shares	(43,904)
Amortization of restricted awards/units		814				814
Cash dividends declared on common stock				(863)		(863)
Common stock option expense		5				5
Common stock options exercised and related tax benefits	$ 20	164				$ 184
Common stock options exercised and related tax benefits, shares	15,176					23,447
Common stock options exercised, shares used for exercise	8,271
Sales of shares (Dividend Reinvestment Program)	$ 236	8,603				$ 8,839
Sales of shares (Dividend Reinvestment Program), shares	283,786
Issuance of shares for Employee Stock Purchase Plan	$ 5	166				171
Issuance of shares for Employee Stock Purchase Plan, shares	5,334
Balance at Mar. 31, 2017	$ 14,991	$ 247,124	$ (8,988)	$ 88,423	$ (622)	$ 340,928
Shares outstanding at Mar. 31, 2017	17,579,274					17,579,274

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical)	3 Months Ended
	Mar. 31, 2017$ / shares
Statement of Stockholders' Equity [Abstract]
Cash dividends declared on common stock, per share	$ 0.05

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
OPERATING ACTIVITIES:
Net income		$ 7,982	$ 5,489
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		787	756
Amortization of premium and accretion of discount on securities, net		399	344
Amortization of restricted stock		814	589
Amortization of intangible		31	17
Amortization of subordinated debt costs		32
Provision of loan losses		1,600	1,700
Deferred tax benefit		(596)	(1,190)
Stock-based compensation and employee stock purchase plan expense		35	55
Gains on securities, available for sale, net			(101)
Loans originated for sale	[1]	(4,494)	(8,062)
Proceeds from sales of loans held for sale	[1]	6,157	6,204
Gain on loans held for sale	[1]	(202)	(121)
Gain on loans held for sale at lower of cost or fair value			(124)
Increase in cash surrender value of life insurance, net		(186)	(216)
Decrease/(increase) in accrued interest receivable		1,330	(677)
Decrease/(increase) in other assets		8,715	(1,168)
Increase in accrued expenses, capital lease obligations and other liabilities		1,104	169
NET CASH PROVIDED BY OPERATING ACTIVITIES		23,508	3,664
INVESTING ACTIVITIES:
Principal repayments, maturities and calls of securities available for sale		17,828	13,709
Redemptions for FHLB & FRB stock		450	17,338
Sales of securities available for sale			4,194
Purchase of securities available for sale		(12,435)	(35,559)
Purchase of FHLB & FRB stock		(2,073)	(16,608)
Proceeds from sales of loans held for sale at lower of cost or fair value			57,436
Net increase in loans, net of participations sold		(127,841)	(128,170)
Purchase of premises and equipment		(529)	(119)
NET CASH USED IN INVESTING ACTIVITIES		(124,600)	(87,779)
FINANCING ACTIVITIES:
Net increase in deposits		18,807	108,108
Net increase/(decrease) in overnight borrowings		34,550	(19,600)
Repayments of Federal Home Loan Bank advances		(3,000)
Cash dividends paid on common stock		(863)	(803)
Exercise of Stock Options, net of stock swaps		184	62
Restricted stock repurchased on vesting to pay taxes		(1,323)	(452)
Sales of common shares (Dividend Reinvestment Program)		8,839	4,385
Issuance of shares for employee stock purchase plan		171	174
NET CASH PROVIDED BY FINANCING ACTIVITIES		57,365	91,874
Net (decrease)/increase in cash and cash equivalents		(43,727)	7,759
Cash and cash equivalents at beginning of period		162,691	70,160
Cash and cash equivalents at end of period		118,964	77,919
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest		5,051	4,304
Taxes		749	5,800
Transfer of loans to loans held for sale			13,178
Transfer of loans to other real estate owned		$ 137	$ 298
[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	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Certain information and footnote disclosures normally included in the audited consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the period ended December 31, 2016 for Peapack-Gladstone Financial Corporation (the “Corporation” or the “Company”). In the opinion of the Management of the Corporation, the accompanying unaudited Consolidated Interim Financial Statements contain all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position as of March 31, 2017, the results of operations and comprehensive income for the three months ended March 31, 2017 and 2016, and shareholders’ equity and cash flow statements for the three months ended March 31, 2017 and 2016. Principles of Consolidation and Organization: Basis of Financial Statement Presentation Segment Information The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support services. Peapack-Gladstone Bank’s Private Wealth Management Division includes asset management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; corporate trust services including services as trustee for pension and profit sharing plans; and other financial planning and advisory services. This segment also includes the activity from the Delaware subsidiary, PGB Trust and Investments of Delaware. Income is recognized as earned. Cash and Cash Equivalents: Interest-Earning Deposits in Other Financial Institutions Securities Interest income includes amortization of purchase premiums and discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, Management considers the extent and duration of the unrealized loss and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) other-than-temporary impairment related to credit loss, which must be recognized in the income statement and 2) other-than-temporary impairment related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings. Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock: The Bank is also a member of the Federal Reserve Bank and required to own a certain amount of FRB stock. FRB stock is carried at cost and classified as a restricted security. Both cash and stock 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 Statements 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 $7.3 million and $5.8 million as of March 31, 2017 and December 31, 2016, respectively. SBA loans held for sale totaled $128 thousand and $388 thousand as of March 31, 2017 and December 31, 2016, respectively. Loans originated with the intent to hold and subsequently transferred to loans held for sale are carried at the lower of cost or fair value. These are loans that the Company no longer has the intent to hold for the foreseeable future. Loans: Loans 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 are reversed against interest income. Payments received on nonaccrual loans are recorded as principal payments. A nonaccrual loan is returned to accrual status only when interest and principal payments are brought current and future payments are reasonably assured, generally when the Bank receives contractual payments for a minimum of six 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 States 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 may be allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or if repayment is expected solely from the underlying collateral, the loan principal balance is compared to the fair value of collateral less estimated disposition costs to determine the need, if any, for a charge off. A troubled debt restructuring (“TDR”) is a modified loan with concessions made by the lender to a borrower who is experiencing financial difficulty. TDRs are impaired and are generally measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a TDR is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral, less estimated disposition costs. For TDRs that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for 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 qualitative 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 than pass-rated loans using a multiple that is calculated annually through a migration analysis. At March 31, 2017 and at December 31, 2016 the multiple was 4.0 times for non-impaired substandard loans and 2.0 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 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 terminated, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. Stock-Based Compensation: For the three months ended March 31, 2017 and 2016, the Company recorded total compensation cost for stock options of $5 thousand and $20 thousand, respectively. There was no recognized tax benefit for the quarter ended March 31, 2017. There was a recognized tax benefit of $2 thousand for the quarter ended March 31, 2016. There was approximately $1 thousand of unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Company’s stock incentive plans at March 31, 2017. That cost is expected to be recognized over a weighted average period of 0.23 years. Upon adoption of Accounting Standards Update (“ASU”) 2016-09, “Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting” the Company has elected to account for forfeitures as they occur, rather than estimate expected forfeitures. For the Company’s stock option plans, changes in options outstanding during the three months ended March 31, 2017 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In thousands) Balance, January 1, 2017 179,159 $ 16.27 Granted during 2017 — — Exercised during 2017 (23,447 ) 18.78 Expired during 2017 (7,092 ) 26.78 Forfeited during 2017 — — Balance, March 31, 2017 148,620 $ 15.37 3.84 years $ 2,114 Vested and expected to vest 148,534 $ 15.38 3.84 years $ 2,110 Exercisable at March 31, 2017 147,185 $ 15.35 3.82 years $ 2,095 The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the first quarter of 2017 and the exercise price, multiplied by the number of in-the-money options). The Company’s closing stock price on March 31, 2017 was $29.59. There were no stock options granted in the three months ended March 31, 2017. The Company has previously granted performance based and service based restricted stock awards/units. Service based awards/units vest ratably over a one, three or five year period. There were 129,628 restricted stock units granted in the first quarter of 2017. The performance based awards that were granted in previous periods, are dependent upon the Company meeting certain performance criteria and cliff vest at the end of the performance period. Total unrecognized compensation expense for performance based awards is $1.7 million as of March 31, 2017. Changes in nonvested shares dependent on performance criteria for the three months ended March 31, 2017 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2017 92,767 $ 18.12 Granted during 2017 — — Vested during 2017 — — Forfeited during 2017 — — Balance, March 31, 2017 92,767 $ 18.12 Changes in service based restricted stock awards/units for the three months ended March 31, 2017 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2017 368,130 $ 19.26 Granted during 2017 129,628 30.08 Vested during 2017 (140,053 ) 18.44 Forfeited during 2017 (700 ) 18.11 Balance, March 31, 2017 357,005 $ 23.51 As of March 31, 2017, there was $1.9 million of total unrecognized compensation cost related to service based awards. That cost is expected to be recognized over a weighted average period of 0.79 years. As of March 31, 2017, there was $5.4 million of total unrecognized compensation cost related to service based units. That cost is expected to be recognized over a weighted average period of 1.49 years. Stock compensation expense recorded for the first quarters of 2017 and 2016 totaled $835 thousand and $589 thousand, respectively. Employee Stock Purchase Plan: The Company recorded $30 thousand and $35 thousand of expense in compensation and employee benefits expense related to the ESPP for the three months ended March 31, 2017 and 2016, respectively. Total shares issued under the ESPP during the first quarters of 2017 and 2016 were 5,334 and 9,544, respectively. Earnings per share – Basic and Diluted: Three Months Ended March 31, (Dollars in thousands, except per share data) 2017 2016 Net income to shareholders $ 7,982 $ 5,489 Basic weighted-average shares outstanding 17,121,631 15,858,278 Plus: common stock equivalents 317,276 158,694 Diluted weighted-average shares outstanding 17,438,907 16,016,972 Net income per share Basic $ 0.47 $ 0.35 Diluted 0.46 0.34 As of March 31, 2017 all stock options and warrants were included in the computation of diluted earnings per share because they were all dilutive. Stock options and warrants totaling 225,278 shares were not included in the computation of diluted earnings per share in the first quarter of 2016 because they were considered antidilutive. 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 New Jersey tax authorities for years prior to 2012. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. The Company’s effective rate was positively affected by the adoption of ASU 2016-09 which simplified certain aspects of accounting for share-based compensation. Loss Contingencies: Restrictions on Cash: Comprehensive Income: Transfers of Financial Assets: Goodwill and Other Intangible Assets: Other intangible assets primarily consist of customer relationship intangible assets arising from acquisition are amortized on an accelerated method over their estimated useful lives, which range up to 15 years.

INVESTMENT SECURITIES AVAILABLE

INVESTMENT SECURITIES AVAILABLE FOR SALE	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 follows: March 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored agencies $ 21,992 $ — $ (436 ) $ 21,556 Mortgage-backed securities – residential 236,824 996 (1,236 ) 236,584 SBA pool securities 6,533 — (62 ) 6,471 State and political subdivisions 25,006 181 (191 ) 24,996 Corporate bond 3,000 86 — 3,086 Single-issuer trust preferred security 2,999 — (284 ) 2,715 CRA investment fund 5,000 — (176 ) 4,824 Total $ 301,354 $ 1,263 $ (2,385 ) $ 300,232 December 31, 2016 Gross Gross Amortized Unrealized Unrealized 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 The following tables present the Corporation’s available for sale securities with continuous unrealized losses and the approximate fair value of these investments as of March 31, 2017 and December 31, 2016. March 31, 2017 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses U.S. government- sponsored agencies $ 21,556 $ (436 ) $ — $ — $ 21,556 $ (436 ) Mortgage-backed securities-residential 132,074 (1,196 ) 4,760 (40 ) 136,834 (1,236 ) SBA pool securities — — 6,471 (62 ) 6,471 (62 ) State and political subdivisions 9,453 (191 ) — — 9,453 (191 ) Single-issuer trust preferred security — — 2,715 (284 ) 2,715 (284 ) CRA investment fund 1,930 (70 ) 2,894 (106 ) 4,824 (176 ) Total $ 165,013 $ (1,893 ) $ 16,840 $ (492 ) $ 181,853 $ (2,385 ) December 31, 2016 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses 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 ) Management believes that the unrealized losses on investment securities available for sale are temporary and are due to interest rate fluctuations and/or volatile market conditions rather than the creditworthiness of the issuers. As of March 31, 2017, the Company does not intend to sell these securities nor is it likely that it will be required to sell the securities before their anticipated recovery; therefore, none of the securities in an unrealized loss position were determined to be other-than-temporarily impaired. At March 31, 2017, the unrealized loss on the single-issuer trust preferred security of $284 thousand was related to a debt security issued by a large bank holding company. The security was downgraded to below investment grade by Moody’s and is currently rated Ba1. 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. Management believes the depressed valuation is a result of the nature of the security, a trust preferred bond, and the bond’s very low yield. As Management does not intend to sell this security nor is it likely that it will be required to sell the security before its anticipated recovery, the security is not considered other-than-temporarily impaired at March 31, 2017.

LOANS

LOANS	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
LOANS	3. LOANS Loans outstanding, excluding those held for sale, by general ledger classification, as of March 31, 2017 and December 31, 2016, consisted of the following: % of % of March 31, Totals December 31, Total (In thousands) 2017 Loans 2016 Loans Residential mortgage $ 571,496 16.61 % $ 527,370 15.92 % Multifamily mortgage 1,468,890 42.71 1,459,594 44.07 Commercial mortgage 573,253 16.67 551,233 16.65 Commercial loans 687,677 19.99 636,714 19.23 Construction loans — — 1,405 0.04 Home equity lines of credit 68,055 1.98 65,682 1.98 Consumer loans, including fixed rate home equity loans 69,802 2.03 69,654 2.10 Other loans 477 0.01 492 0.01 Total loans $ 3,439,650 100.00 % $ 3,312,144 100.00 % In determining an appropriate amount for the allowance, the Bank segments and evaluates the loan portfolio based on federal call report codes. The following portfolio classes have been identified as of March 31, 2017 and December 31, 2016: % of % of March 31, Totals December 31, Total (In thousands) 2017 Loans 2016 Loans Primary residential mortgage $ 602,436 17.52 % $ 557,970 16.86 % Home equity lines of credit 68,055 1.98 65,683 1.98 Junior lien loan on residence 8,487 0.24 9,206 0.28 Multifamily property 1,468,890 42.72 1,459,594 44.09 Owner-occupied commercial real estate 211,573 6.15 176,123 5.32 Investment commercial real estate 790,190 22.98 752,258 22.73 Commercial and industrial 214,463 6.24 213,983 6.47 Farmland/agricultural production 166 0.01 169 0.01 Commercial construction loans 96 0.01 1,497 0.04 Consumer and other loans 73,880 2.15 73,621 2.22 Total loans $ 3,438,236 100.00 % $ 3,310,104 100.00 % Net deferred costs 1,414 2,040 Total loans including net deferred costs $ 3,439,650 $ 3,312,144 The following tables present the loan balances by portfolio class, based on impairment method, and the corresponding balances in the allowance for loan losses (ALLL) as of March 31, 2017 and December 31, 2016: March 31, 2017 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually To Loans Collectively To Loans Evaluated Individually Evaluated Collectively Total For Evaluated for For Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALL Primary residential mortgage $ 13,556 $ 475 $ 588,880 $ 3,453 $ 602,436 $ 3,928 Home equity lines of credit 53 — 68,002 231 68,055 231 Junior lien loan on residence 111 — 8,376 15 8,487 15 Multifamily property — — 1,468,890 11,767 1,468,890 11,767 Owner-occupied commercial real estate 1,461 — 210,112 2,235 211,573 2,235 Investment commercial real estate 11,297 211 778,893 10,672 790,190 10,883 Commercial and industrial 68 68 214,395 4,244 214,463 4,312 Secured by farmland and agricultural production — — 166 2 166 2 Commercial construction — — 96 1 96 1 Consumer and Other — — 73,880 236 73,880 236 Total ALLL $ 26,546 $ 754 $ 3,411,690 $ 32,856 $ 3,438,236 $ 33,610 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 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 Impaired loans include nonaccrual loans of $11.5 million at March 31, 2017 and $11.3 million at December 31, 2016. Impaired loans also include performing TDR loans of $15.0 million at March 31, 2017 and $17.8 million at December 31, 2016. At March 31, 2017, the allowance allocated to TDR loans totaled $431 thousand, of which $203 thousand was allocated to nonaccrual loans. At December 31, 2016, the allowance allocated to TDR loans totaled $550 thousand of which $314 thousand was allocated to nonaccrual loans. All accruing TDR loans were paying in accordance with restructured terms as of March 31, 2017. The Company has not committed to lend additional amounts as of March 31, 2017 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 March 31, 2017 and December 31, 2016 (The average impaired loans on the following tables represent year to date impaired loans.): March 31, 2017 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 11,160 $ 9,741 $ — $ 8,993 Owner-occupied commercial real estate 1,586 1,461 — 1,473 Investment commercial real estate 9,682 9,682 — 9,692 Home equity lines of credit 55 53 — 53 Junior lien loan on residence 164 111 — 80 Total loans with no related allowance $ 22,647 $ 21,048 $ — $ 20,307 With related allowance recorded: Primary residential mortgage $ 4,363 $ 3,815 $ 475 $ 3,810 Investment commercial real estate 1,632 1,615 211 1,618 Commercial and industrial 120 68 68 108 Total loans with related allowance $ 6,115 $ 5,498 $ 754 $ 5,536 Total loans individually evaluated for Impairment $ 28,762 $ 26,546 $ 754 $ 25,843 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 Interest income recognized on impaired loans for the quarters ended March 31, 2017 and 2016 was not material. The Company did not recognize any income on nonaccruing impaired loans for the three months ended March 31, 2017 and 2016. The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of March 31, 2017 and December 31, 2016: March 31, 2017 Loans Past Due Over 90 Days And Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 9,415 $ — Home equity lines of credit 30 — Junior lien loan on residence 112 — Owner-occupied commercial real estate 1,461 — Investment commercial real estate 408 — Commercial and industrial 68 — Total $ 11,494 $ — 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 — Total $ 11,264 $ — The following tables present the aging of the recorded investment in past due loans as of March 31, 2017 and December 31, 2016 by class of loans, excluding nonaccrual loans: March 31, 2017 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 622 $ — $ — $ 622 Total $ 622 $ — $ — $ 622 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 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, debt service capacity, 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 quarterly. The sample methodology is shown below: · All new relationships or new lending to existing relationships greater than $1,000,000; · All criticized and classified rated borrowers with relationship exposure of more than $500,000; · A large sample of borrowers with total relationship commitments in excess of $1,000,000; · A random sample of borrowers with relationships less than $1,000,000; · Any other credits requested by Bank senior management or a member of the Board of Directors and any borrower for which the reviewer determines a review is warranted based upon knowledge of the portfolio, local events, industry stresses etc. The 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. Loans that are considered to be impaired are individually evaluated for potential loss and allowance adequacy. Loans not deemed impaired are collectively evaluated for potential loss and allowance adequacy. As of March 31, 2017, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 587,994 $ 751 $ 13,691 $ — Home equity lines of credit 68,002 — 53 — Junior lien loan on residence 8,375 — 112 — Multifamily property 1,464,262 4,234 394 — Owner-occupied commercial real estate 206,478 — 5,095 — Investment commercial real estate 762,376 5,025 22,789 — Commercial and industrial 209,164 4,430 869 — Farmland 166 — — — Commercial construction — 96 — — Consumer and other loans 73,880 — — — Total $ 3,380,697 $ 14,536 $ 43,003 $ — As of December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 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 $ — At March 31, 2017, $25.3 million of substandard loans were also considered impaired compared to December 31, 2016, when $27.9 million of substandard loans were also impaired. The activity in the allowance for loan losses for the three months ended March 31, 2017 is summarized below: January 1, March 31, 2017 2017 Beginning Provision Ending (In thousands) ALLL Charge-offs Recoveries (Credit) ALLL Primary residential mortgage $ 3,666 $ (138 ) $ 1 $ 399 $ 3,928 Home equity lines of credit 233 — 4 (6 ) 231 Junior lien loan on residence 16 (57 ) 6 50 15 Multifamily property 11,192 — — 575 11,767 Owner-occupied commercial real estate 1,774 — — 461 2,235 Investment commercial real estate 10,909 — 4 (30 ) 10,883 Commercial and industrial 4,164 (24 ) 9 163 4,312 Secured by farmland and agricultural 2 — — — 2 Commercial construction 9 — — (8 ) 1 Consumer and other loans 243 (3 ) — (4 ) 236 Total ALLL $ 32,208 $ (222 ) $ 24 $ 1,600 $ 33,610 The activity in the allowance for loan losses for the three months ended March 31, 2016 is summarized below: January 1, March 31, 2016 2016 Beginning Provision Ending (In thousands) ALLL Charge-offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,297 $ (13 ) $ 14 $ 205 $ 2,503 Home equity lines of credit 86 — 2 45 133 Junior lien loan on residence 66 — 17 (70 ) 13 Multifamily property 11,813 — — (182 ) 11,631 Owner-occupied commercial real estate 1,679 — — 4 1,683 Investment commercial real estate 7,590 (258 ) 2 1,193 8,527 Commercial and industrial 2,209 (3 ) 4 481 2,691 Secured by farmland and agricultural production 2 — — — 2 Commercial construction 2 — — — 2 Consumer and other loans 112 (1 ) 1 24 136 Total ALLL $ 25,856 $ (275 ) $ 40 $ 1,700 $ 27,321 Troubled Debt Restructurings: The Company has allocated $431 thousand and $550 thousand of specific reserves on TDRs to customers whose loan terms have been modified in TDRs as of March 31, 2017 and December 31, 2016, respectively. There were no unfunded commitments to lend additional amounts to customers with outstanding loans that are classified as TDRs. During the three month period ended March 31, 2017, the terms of certain loans were modified as TDRs. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; a deferral of scheduled payments with an extension of the maturity date; or some other modification or extension which would not be readily available in the market. The following table presents loans by class modified as TDRs during the three month period ended March 31, 2017: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 3 $ 611 $ 611 Total 3 $ 611 $ 611 The identification of the TDRs did not have a significant impact on the allowance for loan losses. The following table presents loans by class modified as TDRs during the three month period ended March 31, 2016: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 2 $ 1,133 $ 1,133 Total 2 $ 1,133 $ 1,133 There were no loans that were modified as TDRs for which there was a payment default, within twelve months of modification, during the three months ended March 31, 2017 and 2016. 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 TDR. 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.

DEPOSITS

DEPOSITS	3 Months Ended
	Mar. 31, 2017
Deposits [Abstract]
DEPOSITS	4. DEPOSITS Certificates of deposit, excluding brokered certificates of deposit over $250,000 totaled $117.6 million and $118.7 million at March 31, 2017 and December 31, 2016, respectively. The following table sets forth the details of total deposits as of March 31, 2017 and December 31, 2016: March 31, December 31, 2017 2016 (In thousands) $ % $ % Noninterest-bearing demand deposits $ 528,554 15.41 % $ 489,485 14.35 % Interest-bearing checking (1) 1,015,178 29.59 1,023,081 29.99 Savings 122,262 3.56 120,056 3.52 Money market 1,049,909 30.60 1,048,494 30.73 Certificates of deposit 440,991 12.86 457,000 13.39 Subtotal deposits 3,156,894 92.02 3,138,116 91.98 Interest-bearing demand - Brokered 180,000 5.25 180,000 5.27 Certificates of deposit - Brokered 93,750 2.73 93,721 2.75 Total deposits $ 3,430,644 100.00 % $ 3,411,837 100.00 % (1) Interest-bearing checking includes $402.8 million at March 31, 2017 and $393.0 million at December 31, 2016 of reciprocal balances in the Reich & Tang Demand Deposit Marketplace program. The scheduled maturities of certificates of deposit, including brokered certificates of deposit, as of March 31, 2017 are as follows: (In thousands) 2017 $ 114,997 2018 213,112 2019 77,234 2020 35,030 2021 14,293 Over 5 Years 80,075 Total $ 534,741

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	5. FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS Advances from the Federal Home Loan Bank of New York (“FHLB”) totaled $58.8 million with a weighted average interest rate of 2.07 percent and $61.8 million with a weighted average interest rate of 2.02 percent at March 31, 2017 and December 31, 2016, respectively. At March 31, 2017, advances totaling $46.8 million with a weighted average interest rate of 1.82 percent had fixed maturity dates. The fixed maturity date advances at December 31, 2016 totaled $49.8 million with a weighted average interest rate of 1.78 percent. The fixed rate advances are secured by blanket pledges of certain 1-4 family residential mortgages totaling $451.7 million and multifamily mortgages totaling $930.3 million at March 31, 2017, while 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. At both March 31, 2017 and at December 31, 2016, the Company had $12.0 million in variable rate advances, with a weighted average interest 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 $13.6 million at March 31, 2017. The final maturity dates of the FHLB advances are scheduled as follows: (In thousands) 2017 20,897 2018 34,898 2019 3,000 2020 — 2021 — Over 5 years — Total $ 58,795 There were overnight borrowings of $34.6 million as of March 31, 2017 with a weighted average rate of 1.0 percent at the FHLB. There were no overnight borrowings as of December 31, 2016. At March 31, 2017, unused short-term overnight borrowing commitments totaled $1.1 billion from FHLB, $22.0 million from correspondent banks and $614.2 million at the Federal Reserve Bank.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
BUSINESS SEGMENTS	6. BUSINESS SEGMENTS The Corporation 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 tables present the statements of income and total assets for the Corporation’s reportable segments for the three months ended March 30, 2017 and 2016. Three Months Ended March 31, 2017 Wealth Management (In thousands) Banking Division Total Net interest income $ 24,031 $ 1,560 $ 25,591 Noninterest income 2,094 4,925 7,019 Total income 26,125 6,485 32,610 Provision for loan losses 1,600 — 1,600 Compensation and benefits 9,314 2,599 11,913 Premises and equipment expense 2,537 279 2,816 Other noninterest expense 2,702 1,873 4,575 Total noninterest expense 16,153 4,751 20,904 Income before income tax expense 9,972 1,734 11,706 Income tax expense 3,173 551 3,724 Net income $ 6,799 $ 1,183 $ 7,982 Total assets for period end $ 3,901,134 $ 46,428 $ 3,947,562 Three Months Ended March 31, 2016 Wealth Management (In thousands) Banking Division Total Net interest income $ 21,990 $ 1,420 $ 23,410 Noninterest income 1,880 4,383 6,263 Total income 23,870 5,803 29,673 Provision for loan losses 1,700 — 1,700 Compensation and benefits 8,813 2,095 10,908 Premises and equipment expense 2,637 227 2,864 Other noninterest expense 3,917 1,517 5,434 Total noninterest expense 17,067 3,839 20,906 Income before income tax expense 6,803 1,964 8,767 Income tax expense 2,514 764 3,278 Net income $ 4,289 $ 1,200 $ 5,489 Total assets for period end $ 3,412,745 $ 53,252 $ 3,465,997

FAIR VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE	7. FAIR VALUE Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing as asset or liability. The Company used the following methods and significant assumptions to estimate the fair value: Investment Securities: Loans Held for Sale, at Fair Value: Derivatives Impaired Loans: Other Real Estate Owned: Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by Management. Once received, a member of the Credit Department reviews the assumptions and approaches utilized in the appraisal, as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Appraisals on collateral dependent impaired loans and other real estate owned (consistent for all loan types) are obtained on an annual basis, unless a significant change in the market or other factors warrants a more frequent appraisal. On an annual basis, Management compares the actual selling price of any collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value for other properties. The most recent analysis performed indicated that a discount up to 15 percent should be applied to appraisals on properties. The discount is determined based on the nature of the underlying properties, aging of appraisals and other factors. For each collateral-dependent impaired loan, we consider other factors, such as certain indices or other market information, as well as property specific circumstances to determine if an adjustment to the appraised value is needed. In situations where there is evidence of change in value, the Bank will determine if there is a need for an adjustment to the specific reserve on the collateral dependent impaired loans. When the Bank applies an interim adjustment, it generally shows the adjustment as an incremental specific reserve against the loan until it has received the full updated appraisal. As of March 31, 2017, 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 Corporation has elected the fair value option: Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable March 31, Assets Inputs Inputs (In thousands) 2017 (Level 1) (Level 2) (Level 3) Assets: Available for sale: U.S. government-sponsored agencies $ 21,556 $ — $ 21,556 $ — Mortgage-backed securities- residential 236,584 — 236,584 — SBA pool securities 6,471 — 6,471 — State and political subdivisions 24,996 — 24,996 — Corporate bond 3,086 — 3,086 — Single-issuer trust preferred security 2,715 — 2,715 — CRA investment fund 4,824 4,824 — — Derivatives: Cash flow hedges 348 — 348 — Loan level swaps 2,869 — 2,869 — Total $ 303,449 $ 4,824 $ 298,625 $ — Liabilities: Derivatives: Cash flow hedges $ (227 ) $ — $ (227 ) $ — Loan level swaps (2,869 ) — (2,869 ) — Total $ (3,096 ) $ — $ (3,096 ) $ — Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs (In thousands) 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 ) $ — The Company has elected the fair value option for certain loans held for sale. These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of these loans are 90 days or more past due nor on nonaccrual as of March 31, 2017 and December 31, 2016. The following tables present residential loans held for sale, at fair value for the periods indicated: (In thousands) March 31, 2017 December 31, 2016 Residential loans contractual balance $ — $ 1,181 Fair value adjustment — 19 Total fair value of residential loans held for sale $ — $ 1,200 There were no transfers between Level 1 and Level 2 during the three months ended March 31, 2017. The following table summarizes, for the periods indicated, assets measured at fair value on a non-recurring basis (Quantitative disclosures for non-recurring Level 3 assets have been omitted due to immateriality): Assets Measured on a Non-Recurring Basis Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant observable Identical Observable Unobservable March 31, Assets Inputs Inputs (In thousands) 2017 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Primary residential mortgage $ 2,210 $ — $ — $ 2,210 Investment commercial real estate 245 — — 245 December 31, (In thousands) 2016 Assets: Impaired loans: Investment commercial real estate $ 245 $ — $ — $ 245 Impaired loans that are measured for impairment using the fair value of the collateral for collateral dependent loans had a recorded investment of $2.87 million, with a valuation allowance of $420 thousand at March 31, 2017 and $408 thousand, with a valuation allowance of $163 thousand, at December 31, 2016. The carrying amounts and estimated fair values of financial instruments at March 31, 2017 are as follows: Fair Value Measurements at March 31, 2017 using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 118,964 $ 118,964 $ — $ — $ 118,964 Securities available for sale 300,232 4,824 295,408 — 300,232 FHLB and FRB stock 15,436 — — — N/A Loans held for sale, at lower of cost or fair value 128 — 141 — 141 Loans, net of allowance for loan losses 3,406,040 — — 3,386,151 3,386,151 Accrued interest receivable 6,823 — 1,034 5,789 6,823 Cash flow hedges 348 — 348 — 348 Loan level swaps 2,869 — 2,869 — 2,869 Financial liabilities Deposits $ 3,430,644 $ 2,895,903 $ 533,352 $ — $ 3,429,255 Overnight borrowings 34,550 — 34,550 — 34,550 Federal home loan bank advances 58,795 — 59,141 — 59,141 Subordinated debt 48,796 — — 48,798 48,798 Accrued interest payable 1,755 178 827 750 1,755 Cash flow hedge 227 — 227 — 227 Loan level swap 2,869 — 2,869 — 2,869 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 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	3 Months Ended
	Mar. 31, 2017
Other Income and Expenses [Abstract]
OTHER OPERATING EXPENSES	8. OTHER OPERATING EXPENSES The following table presents the major components of other operating expenses for the periods indicated: Three Months Ended March 31, (In thousands) 2017 2016 Wealth management division other expense $ 702 $ 622 Professional and legal fees 862 986 Other operating expenses 2,325 2,267 Total other operating expenses $ 3,889 $ 3,875

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME	9. ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME The following is a summary of the accumulated other comprehensive (loss)/income balances, net of tax, for the three months ended March 31, 2017 and 2016: Amount Other Reclassified Comprehensive Other From Income Comprehensive Accumulated Three Months Balance at Income Other Ended Balance at January 1, Before Comprehensive March 31, March 31, (In thousands) 2017 Reclassifications Income 2017 2017 Net unrealized holding (loss) on securities available for sale, net of tax $ (1,091 ) $ 397 $ — $ 397 $ (694 ) Gains on cash flow hedges (440 ) 512 — 512 72 Accumulated other comprehensive loss, net of tax $ (1,531 ) $ 909 $ — $ 909 $ (622 ) Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Three Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive March 31, March 31, (In thousands) 2016 Reclassifications Loss 2016 2016 Net unrealized holding gain on securities available for sale, net of tax $ 408 $ 688 $ (63 ) $ 625 $ 1,033 Losses on cash flow hedges (787 ) (2,260 ) — (2,260 ) (3,047 ) Accumulated other comprehensive loss, net of tax $ (379 ) $ (1,572 ) $ (63 ) $ (1,635 ) $ (2,014 ) The following represents the reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2017 and 2016: Three Months Ended March 31, (In thousands) 2017 2016 Affected Line Item in Income Unrealized gains on securities available for sale: Realized net gain on securities sales $ — $ 101 Securities gains, net Income tax expense — (38 ) Income tax expense Total reclassifications, net of tax $ — $ 63

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	10. DERIVATIVES The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements. Interest Rate Swaps Designated as Cash Flow Hedges: The following information about the interest rate swaps designated as cash flow hedges as of March 31, 2017 and December 31, 2016 is presented in the following table: (Dollars in thousands) March 31, 2017 December 31, 2016 Notional amount $ 180,000 $ 180,000 Weighted average pay rate 1.64 % 1.64 % Weighted average receive rate 0.83 % 0.58 % Weighted average maturity 3.00 years 3.25 years Unrealized gain/(loss), net $ 121 $ (744 ) Number of contracts 9 9 Net interest expense recorded on these swap transactions totaled $361 thousand and $504 thousand for the three months ended March 31, 2017 and 2016, respectively, and is reported as a component of interest expense. Cash Flow Hedges The following table presents the net gains recorded in accumulated other comprehensive (loss)/income and the consolidated financial statements relating to the cash flow derivative instruments for the three months ended March 31, 2017 (after tax): Amount of Amount of Amount of Gain/(Loss) Gain/(Loss) Gain/(Loss) Recognized in Recognized Reclassified Other Non-Interest In OCI From OCI to Expense (In thousands) (Effective Portion) Interest Expense (Ineffective Portion) Interest rate contracts $ 512 $ — $ — The following table presents the net losses recorded in accumulated other comprehensive (loss)/income and the consolidated financial statements relating to the cash flow derivative instruments for the three months ended March 31, 2016: Amount of Amount of Amount of Gain/(Loss) Gain/(Loss) Gain/(Loss) Recognized in Recognized Reclassified Other Non-Interest In OCI From OCI to Expense (In thousands) (Effective Portion) Interest Expense (Ineffective Portion) Interest rate contracts $ (2,260 ) $ — $ — The following tables reflect the cash flow hedges included in the financial statements as of March 31, 2017 and December 31, 2016: March 31, 2017 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing demand brokered deposits $ 180,000 $ 121 Total included in other assets $ 85,000 $ 348 Total included in other liabilities $ 95,000 $ (227 ) 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 ) Derivatives Not Designated as Accounting Hedges: Information about these swaps is as follows: (Dollars in thousands) March 31, 2017 December 31, 2016 Notional amount $ 155,853 $ 126,810 Fair value $ 2,869 $ 1,543 Weighted average pay rates 3.88 % 3.75 % Weighted average receive rates 2.83 % 2.65 % Weighted average maturity 9.1 years 9.4 years Number of contracts 19 14

SUBORDINATED DEBT

SUBORDINATED DEBT	3 Months Ended
	Mar. 31, 2017
Subordinated Debt [Abstract]
SUBORDINATED DEBT	11. 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.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2017
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	12. RECENT ACCOUNTING PRONOUNCEMENTS Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (is) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. In July 2015, FASB deferred the effective date of the ASU by one year which means ASU 2014-09 will be effective for the Company on January 1, 2018. In March 2016, FASB issued ASU 2016-08 which amended illustrative examples to clarify how to apply the implementation guidance on principal versus agent considerations. The Company does not expect the guidance will have a material impact on its consolidated financial statements. 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. The Company continues to evaluate the effect that ASU 2016-02 will have on its financial position, results of operations, and its financial statement disclosures, the adoption of ASU 2016-02 is expected to result in leased assets and related lease liabilities to be included on its balance sheet, along with the related leasehold amortization and interest expense included in its statement of income. 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 additional paid in capital (“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. Early adoption is permitted. The Company adopted the provisions of this standard during the quarter ended March 31, 2017. Upon adoption, excess tax benefits and tax deficiencies are recognized in the provision for income taxes on the consolidated statement of operations and are presented within operating activities on the consolidated statement of cash flows for the quarter ended March 31, 2017. 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”. 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 evaluating the impact the CECL model will have on our accounting, but we expect to recognize a one-time cumulative-effect adjustment to our allowance for loan losses as of the beginning of the first reporting period in which the new standard is effective, consistent with regulatory expectations set forth in interagency guidance issued at the end of 2016. The Company cannot yet determine the magnitude of any such one-time cumulative adjustment or of the overall impact of the new standard on our financial condition or results of operations. 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. In January 2017, the FASB issued ASU 2017-04: “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”. This accounting standard updated simplifies the subsequent measurement of goodwill, by eliminating Step 2 from the goodwill impairment test. In computing the implied fair value of goodwill under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity should apply the amendments in this update on a prospective basis. A public business entity that is a SEC filer should adopt the amendments in this update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company does not anticipate a material impact to the consolidated financial statements at this time. In March 2017, the FASB issued ASU 2017-08: “Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities”. This Accounting Standards update amends guidance on the amortization period of premiums on certain purchased callable debt securities. Specifically, the amendments shorten the amortization period of premiums on certain purchased callable debt securities to the earliest call date. The amendments affect all entities that hold investments in callable debt securities that have an amortized cost basis in excess of the amount that is repayable by the issuer at the earliest call date. For public business entities, the amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company does not currently hold any callable debt securities with a premium. As a result, the Company does not anticipate an impact to the consolidated financial statements. Also in March 2017, the FASB issued ASU 2017-07: “Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”. This ASU requires an entity to present net periodic pension cost and net periodic postretirement benefit cost as a net amount that may be capitalized as part of an asset where appropriate. Generally the service cost component is analyzed differently from the other components of net periodic pension cost and net periodic postretirement benefit cost. To improve consistency, transparency, and usefulness of financial information, the amendments in this update require that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The amendments in this update are effective for public business entities for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The Company’s current accounting treatment and presentation of net periodic postretirement benefit cost is consistent with the provisions in ASU-2017. As a result, the Company does not anticipate an impact to the consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Principles of Consolidation and Organization	Principles of Consolidation and Organization:
Basis of Financial Presentation	Basis of Financial Statement Presentation
Segment Information	Segment Information The Banking segment includes commercial, commercial real estate, multifamily, residential and consumer lending activities; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support services. Peapack-Gladstone Bank’s Private Wealth Management Division includes asset management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; corporate trust services including services as trustee for pension and profit sharing plans; and other financial planning and advisory services. This segment also includes the activity from the Delaware subsidiary, PGB Trust and Investments of Delaware. Income is recognized as earned.
Cash and Cash Equivalents	Cash and Cash Equivalents:
Interest-Earning Deposits in Other Financial Institutions	Interest-Earning Deposits in Other Financial Institutions
Securities	Securities Interest income includes amortization of purchase premiums and discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, Management considers the extent and duration of the unrealized loss and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) other-than-temporary impairment related to credit loss, which must be recognized in the income statement and 2) other-than-temporary impairment related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. For equity securities, the entire amount of impairment is recognized through earnings.
Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock	Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock: The Bank is also a member of the Federal Reserve Bank and required to own a certain amount of FRB stock. FRB stock is carried at cost and classified as a restricted security. Both cash and stock 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 Statements 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 $7.3 million and $5.8 million as of March 31, 2017 and December 31, 2016, respectively. SBA loans held for sale totaled $128 thousand and $388 thousand as of March 31, 2017 and December 31, 2016, respectively. Loans originated with the intent to hold and subsequently transferred to loans held for sale are carried at the lower of cost or fair value. These are loans that the Company no longer has the intent to hold for the foreseeable future.
Loans	Loans: Loans 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 are reversed against interest income. Payments received on nonaccrual loans are recorded as principal payments. A nonaccrual loan is returned to accrual status only when interest and principal payments are brought current and future payments are reasonably assured, generally when the Bank receives contractual payments for a minimum of six 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 States 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 may be allocated so that the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or if repayment is expected solely from the underlying collateral, the loan principal balance is compared to the fair value of collateral less estimated disposition costs to determine the need, if any, for a charge off. A troubled debt restructuring (“TDR”) is a modified loan with concessions made by the lender to a borrower who is experiencing financial difficulty. TDRs are impaired and are generally measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a TDR is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral, less estimated disposition costs. For TDRs that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for 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 qualitative 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 than pass-rated loans using a multiple that is calculated annually through a migration analysis. At March 31, 2017 and at December 31, 2016 the multiple was 4.0 times for non-impaired substandard loans and 2.0 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
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 terminated, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings.
Stock-Based Compensation	Stock-Based Compensation: For the three months ended March 31, 2017 and 2016, the Company recorded total compensation cost for stock options of $5 thousand and $20 thousand, respectively. There was no recognized tax benefit for the quarter ended March 31, 2017. There was a recognized tax benefit of $2 thousand for the quarter ended March 31, 2016. There was approximately $1 thousand of unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Company’s stock incentive plans at March 31, 2017. That cost is expected to be recognized over a weighted average period of 0.23 years. Upon adoption of Accounting Standards Update (“ASU”) 2016-09, “Compensation - Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting” the Company has elected to account for forfeitures as they occur, rather than estimate expected forfeitures. For the Company’s stock option plans, changes in options outstanding during the three months ended March 31, 2017 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In thousands) Balance, January 1, 2017 179,159 $ 16.27 Granted during 2017 — — Exercised during 2017 (23,447 ) 18.78 Expired during 2017 (7,092 ) 26.78 Forfeited during 2017 — — Balance, March 31, 2017 148,620 $ 15.37 3.84 years $ 2,114 Vested and expected to vest 148,534 $ 15.38 3.84 years $ 2,110 Exercisable at March 31, 2017 147,185 $ 15.35 3.82 years $ 2,095 The aggregate intrinsic value represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the first quarter of 2017 and the exercise price, multiplied by the number of in-the-money options). The Company’s closing stock price on March 31, 2017 was $29.59. There were no stock options granted in the three months ended March 31, 2017. The Company has previously granted performance based and service based restricted stock awards/units. Service based awards/units vest ratably over a one, three or five year period. There were 129,628 restricted stock units granted in the first quarter of 2017. The performance based awards that were granted in previous periods, are dependent upon the Company meeting certain performance criteria and cliff vest at the end of the performance period. Total unrecognized compensation expense for performance based awards is $1.7 million as of March 31, 2017. Changes in nonvested shares dependent on performance criteria for the three months ended March 31, 2017 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2017 92,767 $ 18.12 Granted during 2017 — — Vested during 2017 — — Forfeited during 2017 — — Balance, March 31, 2017 92,767 $ 18.12 Changes in service based restricted stock awards/units for the three months ended March 31, 2017 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2017 368,130 $ 19.26 Granted during 2017 129,628 30.08 Vested during 2017 (140,053 ) 18.44 Forfeited during 2017 (700 ) 18.11 Balance, March 31, 2017 357,005 $ 23.51 As of March 31, 2017, there was $1.9 million of total unrecognized compensation cost related to service based awards. That cost is expected to be recognized over a weighted average period of 0.79 years. As of March 31, 2017, there was $5.4 million of total unrecognized compensation cost related to service based units. That cost is expected to be recognized over a weighted average period of 1.49 years. Stock compensation expense recorded for the first quarters of 2017 and 2016 totaled $835 thousand and $589 thousand, respectively.
Employee Stock Purchase Plan	Employee Stock Purchase Plan: The Company recorded $30 thousand and $35 thousand of expense in compensation and employee benefits expense related to the ESPP for the three months ended March 31, 2017 and 2016, respectively. Total shares issued under the ESPP during the first quarters of 2017 and 2016 were 5,334 and 9,544, respectively.
Earnings per share - Basic and Diluted	Earnings per share – Basic and Diluted: Three Months Ended March 31, (Dollars in thousands, except per share data) 2017 2016 Net income to shareholders $ 7,982 $ 5,489 Basic weighted-average shares outstanding 17,121,631 15,858,278 Plus: common stock equivalents 317,276 158,694 Diluted weighted-average shares outstanding 17,438,907 16,016,972 Net income per share Basic $ 0.47 $ 0.35 Diluted 0.46 0.34 As of March 31, 2017 all stock options and warrants were included in the computation of diluted earnings per share because they were all dilutive. Stock options and warrants totaling 225,278 shares were not included in the computation of diluted earnings per share in the first quarter of 2016 because they were considered antidilutive.
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 New Jersey tax authorities for years prior to 2012. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. The Company’s effective rate was positively affected by the adoption of ASU 2016-09 which simplified certain aspects of accounting for share-based compensation.
Loss Contingencies	Loss Contingencies:
Restrictions on cash	Restrictions on Cash:
Comprehensive Income	Comprehensive Income:
Transfers of Financial Assets	Transfers of Financial Assets:
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Other intangible assets primarily consist of customer relationship intangible assets arising from acquisition are amortized on an accelerated method over their estimated useful lives, which range up to 15 years.

SUMMARY OF SIGNIFICANT ACCOUN22

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Schedule of stock option plans, changes in options outstanding	Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In thousands) Balance, January 1, 2017 179,159 $ 16.27 Granted during 2017 — — Exercised during 2017 (23,447 ) 18.78 Expired during 2017 (7,092 ) 26.78 Forfeited during 2017 — — Balance, March 31, 2017 148,620 $ 15.37 3.84 years $ 2,114 Vested and expected to vest 148,534 $ 15.38 3.84 years $ 2,110 Exercisable at March 31, 2017 147,185 $ 15.35 3.82 years $ 2,095
Schedule of changes in nonvested performance-based shares	Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2017 92,767 $ 18.12 Granted during 2017 — — Vested during 2017 — — Forfeited during 2017 — — Balance, March 31, 2017 92,767 $ 18.12
Schedule of changes in nonvested shares	Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2017 368,130 $ 19.26 Granted during 2017 129,628 30.08 Vested during 2017 (140,053 ) 18.44 Forfeited during 2017 (700 ) 18.11 Balance, March 31, 2017 357,005 $ 23.51
Schedule of calculation of basic and diluted earnings per share	Three Months Ended March 31, (Dollars in thousands, except per share data) 2017 2016 Net income to shareholders $ 7,982 $ 5,489 Basic weighted-average shares outstanding 17,121,631 15,858,278 Plus: common stock equivalents 317,276 158,694 Diluted weighted-average shares outstanding 17,438,907 16,016,972 Net income per share Basic $ 0.47 $ 0.35 Diluted 0.46 0.34

INVESTMENT SECURITIES AVAILAB23

INVESTMENT SECURITIES AVAILABLE FOR SALE (Tables)	3 Months Ended
	Mar. 31, 2017
INVESTMENT SECURITIES AVAILABLE FOR SALE [Abstract]
Schedule of Amortized Cost and Approximate Fair Value of Securities Available for Sale	March 31, 2017 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored agencies $ 21,992 $ — $ (436 ) $ 21,556 Mortgage-backed securities – residential 236,824 996 (1,236 ) 236,584 SBA pool securities 6,533 — (62 ) 6,471 State and political subdivisions 25,006 181 (191 ) 24,996 Corporate bond 3,000 86 — 3,086 Single-issuer trust preferred security 2,999 — (284 ) 2,715 CRA investment fund 5,000 — (176 ) 4,824 Total $ 301,354 $ 1,263 $ (2,385 ) $ 300,232 December 31, 2016 Gross Gross Amortized Unrealized Unrealized 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
Schedule of Continuous Unrealized Losses and the Approximate Fair Value of these Investments	March 31, 2017 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses U.S. government- sponsored agencies $ 21,556 $ (436 ) $ — $ — $ 21,556 $ (436 ) Mortgage-backed securities-residential 132,074 (1,196 ) 4,760 (40 ) 136,834 (1,236 ) SBA pool securities — — 6,471 (62 ) 6,471 (62 ) State and political subdivisions 9,453 (191 ) — — 9,453 (191 ) Single-issuer trust preferred security — — 2,715 (284 ) 2,715 (284 ) CRA investment fund 1,930 (70 ) 2,894 (106 ) 4,824 (176 ) Total $ 165,013 $ (1,893 ) $ 16,840 $ (492 ) $ 181,853 $ (2,385 ) December 31, 2016 Duration of Unrealized Loss Less Than 12 Months 12 Months or Longer Total Approximate Approximate Approximate Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) Value Losses Value Losses Value Losses 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 )

LOANS (Tables)

LOANS (Tables)	3 Months Ended
	Mar. 31, 2017
Receivables [Abstract]
Schedule of composition of loans categorized by the type of loan	Loans outstanding, excluding those held for sale, by general ledger classification, as of March 31, 2017 and December 31, 2016, consisted of the following: % of % of March 31, Totals December 31, Total (In thousands) 2017 Loans 2016 Loans Residential mortgage $ 571,496 16.61 % $ 527,370 15.92 % Multifamily mortgage 1,468,890 42.71 1,459,594 44.07 Commercial mortgage 573,253 16.67 551,233 16.65 Commercial loans 687,677 19.99 636,714 19.23 Construction loans — — 1,405 0.04 Home equity lines of credit 68,055 1.98 65,682 1.98 Consumer loans, including fixed rate home equity loans 69,802 2.03 69,654 2.10 Other loans 477 0.01 492 0.01 Total loans $ 3,439,650 100.00 % $ 3,312,144 100.00 % In determining an appropriate amount for the allowance, the Bank segments and evaluates the loan portfolio based on federal call report codes. The following portfolio classes have been identified as of March 31, 2017 and December 31, 2016: % of % of March 31, Totals December 31, Total (In thousands) 2017 Loans 2016 Loans Primary residential mortgage $ 602,436 17.52 % $ 557,970 16.86 % Home equity lines of credit 68,055 1.98 65,683 1.98 Junior lien loan on residence 8,487 0.24 9,206 0.28 Multifamily property 1,468,890 42.72 1,459,594 44.09 Owner-occupied commercial real estate 211,573 6.15 176,123 5.32 Investment commercial real estate 790,190 22.98 752,258 22.73 Commercial and industrial 214,463 6.24 213,983 6.47 Farmland/agricultural production 166 0.01 169 0.01 Commercial construction loans 96 0.01 1,497 0.04 Consumer and other loans 73,880 2.15 73,621 2.22 Total loans $ 3,438,236 100.00 % $ 3,310,104 100.00 % Net deferred costs 1,414 2,040 Total loans including net deferred costs $ 3,439,650 $ 3,312,144
Schedule of loan balances by portfolio segment, based on impairment method, and the corresponding balances in the allowance for loan losses	The following tables present the loan balances by portfolio class, based on impairment method, and the corresponding balances in the allowance for loan losses (ALLL) as of March 31, 2017 and December 31, 2016: March 31, 2017 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually To Loans Collectively To Loans Evaluated Individually Evaluated Collectively Total For Evaluated for For Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALL Primary residential mortgage $ 13,556 $ 475 $ 588,880 $ 3,453 $ 602,436 $ 3,928 Home equity lines of credit 53 — 68,002 231 68,055 231 Junior lien loan on residence 111 — 8,376 15 8,487 15 Multifamily property — — 1,468,890 11,767 1,468,890 11,767 Owner-occupied commercial real estate 1,461 — 210,112 2,235 211,573 2,235 Investment commercial real estate 11,297 211 778,893 10,672 790,190 10,883 Commercial and industrial 68 68 214,395 4,244 214,463 4,312 Secured by farmland and agricultural production — — 166 2 166 2 Commercial construction — — 96 1 96 1 Consumer and Other — — 73,880 236 73,880 236 Total ALLL $ 26,546 $ 754 $ 3,411,690 $ 32,856 $ 3,438,236 $ 33,610 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 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 The activity in the allowance for loan losses for the three months ended March 31, 2017 is summarized below: January 1, March 31, 2017 2017 Beginning Provision Ending (In thousands) ALLL Charge-offs Recoveries (Credit) ALLL Primary residential mortgage $ 3,666 $ (138 ) $ 1 $ 399 $ 3,928 Home equity lines of credit 233 — 4 (6 ) 231 Junior lien loan on residence 16 (57 ) 6 50 15 Multifamily property 11,192 — — 575 11,767 Owner-occupied commercial real estate 1,774 — — 461 2,235 Investment commercial real estate 10,909 — 4 (30 ) 10,883 Commercial and industrial 4,164 (24 ) 9 163 4,312 Secured by farmland and agricultural 2 — — — 2 Commercial construction 9 — — (8 ) 1 Consumer and other loans 243 (3 ) — (4 ) 236 Total ALLL $ 32,208 $ (222 ) $ 24 $ 1,600 $ 33,610 The activity in the allowance for loan losses for the three months ended March 31, 2016 is summarized below: January 1, March 31, 2016 2016 Beginning Provision Ending (In thousands) ALLL Charge-offs Recoveries (Credit) ALLL Primary residential mortgage $ 2,297 $ (13 ) $ 14 $ 205 $ 2,503 Home equity lines of credit 86 — 2 45 133 Junior lien loan on residence 66 — 17 (70 ) 13 Multifamily property 11,813 — — (182 ) 11,631 Owner-occupied commercial real estate 1,679 — — 4 1,683 Investment commercial real estate 7,590 (258 ) 2 1,193 8,527 Commercial and industrial 2,209 (3 ) 4 481 2,691 Secured by farmland and agricultural production 2 — — — 2 Commercial construction 2 — — — 2 Consumer and other loans 112 (1 ) 1 24 136 Total ALLL $ 25,856 $ (275 ) $ 40 $ 1,700 $ 27,321
Schedule of loans individually evaluated for impairment	March 31, 2017 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 11,160 $ 9,741 $ — $ 8,993 Owner-occupied commercial real estate 1,586 1,461 — 1,473 Investment commercial real estate 9,682 9,682 — 9,692 Home equity lines of credit 55 53 — 53 Junior lien loan on residence 164 111 — 80 Total loans with no related allowance $ 22,647 $ 21,048 $ — $ 20,307 With related allowance recorded: Primary residential mortgage $ 4,363 $ 3,815 $ 475 $ 3,810 Investment commercial real estate 1,632 1,615 211 1,618 Commercial and industrial 120 68 68 108 Total loans with related allowance $ 6,115 $ 5,498 $ 754 $ 5,536 Total loans individually evaluated for Impairment $ 28,762 $ 26,546 $ 754 $ 25,843 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
Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual	March 31, 2017 Loans Past Due Over 90 Days And Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 9,415 $ — Home equity lines of credit 30 — Junior lien loan on residence 112 — Owner-occupied commercial real estate 1,461 — Investment commercial real estate 408 — Commercial and industrial 68 — Total $ 11,494 $ — 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 — Total $ 11,264 $ —
Schedule of aging of past due loans	March 31, 2017 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 622 $ — $ — $ 622 Total $ 622 $ — $ — $ 622 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
Schedule of the risk category of loans by class of loans	Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 587,994 $ 751 $ 13,691 $ — Home equity lines of credit 68,002 — 53 — Junior lien loan on residence 8,375 — 112 — Multifamily property 1,464,262 4,234 394 — Owner-occupied commercial real estate 206,478 — 5,095 — Investment commercial real estate 762,376 5,025 22,789 — Commercial and industrial 209,164 4,430 869 — Farmland 166 — — — Commercial construction — 96 — — Consumer and other loans 73,880 — — — Total $ 3,380,697 $ 14,536 $ 43,003 $ — As of December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 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 $ —
Schedule of loans modified as troubled debt restructurings	The following table presents loans by class modified as TDRs during the three month period ended March 31, 2017: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 3 $ 611 $ 611 Total 3 $ 611 $ 611 The identification of the TDRs did not have a significant impact on the allowance for loan losses. The following table presents loans by class modified as TDRs during the three month period ended March 31, 2016: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 2 $ 1,133 $ 1,133 Total 2 $ 1,133 $ 1,133

DEPOSITS (Tables)

DEPOSITS (Tables)	3 Months Ended
	Mar. 31, 2017
Deposits [Abstract]
Schedule of deposit liabilities	March 31, December 31, 2017 2016 (In thousands) $ % $ % Noninterest-bearing demand deposits $ 528,554 15.41 % $ 489,485 14.35 % Interest-bearing checking (1) 1,015,178 29.59 1,023,081 29.99 Savings 122,262 3.56 120,056 3.52 Money market 1,049,909 30.60 1,048,494 30.73 Certificates of deposit 440,991 12.86 457,000 13.39 Subtotal deposits 3,156,894 92.02 3,138,116 91.98 Interest-bearing demand - Brokered 180,000 5.25 180,000 5.27 Certificates of deposit - Brokered 93,750 2.73 93,721 2.75 Total deposits $ 3,430,644 100.00 % $ 3,411,837 100.00 % (1) Interest-bearing checking includes $402.8 million at March 31, 2017 and $393.0 million at December 31, 2016 of reciprocal balances in the Reich & Tang Demand Deposit Marketplace program.
Schedule of maturities of time deposits	(In thousands) 2017 $ 114,997 2018 213,112 2019 77,234 2020 35,030 2021 14,293 Over 5 Years 80,075 Total $ 534,741

FEDERAL HOME LOAN BANK ADVANC26

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of maturity dates of the advances and other borrowings	(In thousands) 2017 20,897 2018 34,898 2019 3,000 2020 — 2021 — Over 5 years — Total $ 58,795

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of income and total assets for reportable segments	Three Months Ended March 31, 2017 Wealth Management (In thousands) Banking Division Total Net interest income $ 24,031 $ 1,560 $ 25,591 Noninterest income 2,094 4,925 7,019 Total income 26,125 6,485 32,610 Provision for loan losses 1,600 — 1,600 Compensation and benefits 9,314 2,599 11,913 Premises and equipment expense 2,537 279 2,816 Other noninterest expense 2,702 1,873 4,575 Total noninterest expense 16,153 4,751 20,904 Income before income tax expense 9,972 1,734 11,706 Income tax expense 3,173 551 3,724 Net income $ 6,799 $ 1,183 $ 7,982 Total assets for period end $ 3,901,134 $ 46,428 $ 3,947,562 Three Months Ended March 31, 2016 Wealth Management (In thousands) Banking Division Total Net interest income $ 21,990 $ 1,420 $ 23,410 Noninterest income 1,880 4,383 6,263 Total income 23,870 5,803 29,673 Provision for loan losses 1,700 — 1,700 Compensation and benefits 8,813 2,095 10,908 Premises and equipment expense 2,637 227 2,864 Other noninterest expense 3,917 1,517 5,434 Total noninterest expense 17,067 3,839 20,906 Income before income tax expense 6,803 1,964 8,767 Income tax expense 2,514 764 3,278 Net income $ 4,289 $ 1,200 $ 5,489 Total assets for period end $ 3,412,745 $ 53,252 $ 3,465,997

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on a recurring basis	Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable March 31, Assets Inputs Inputs (In thousands) 2017 (Level 1) (Level 2) (Level 3) Assets: Available for sale: U.S. government-sponsored agencies $ 21,556 $ — $ 21,556 $ — Mortgage-backed securities- residential 236,584 — 236,584 — SBA pool securities 6,471 — 6,471 — State and political subdivisions 24,996 — 24,996 — Corporate bond 3,086 — 3,086 — Single-issuer trust preferred security 2,715 — 2,715 — CRA investment fund 4,824 4,824 — — Derivatives: Cash flow hedges 348 — 348 — Loan level swaps 2,869 — 2,869 — Total $ 303,449 $ 4,824 $ 298,625 $ — Liabilities: Derivatives: Cash flow hedges $ (227 ) $ — $ (227 ) $ — Loan level swaps (2,869 ) — (2,869 ) — Total $ (3,096 ) $ — $ (3,096 ) $ — Assets Measured on a Recurring Basis Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs (In thousands) 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 ) $ —
Schedule of residential loans held for sale	(In thousands) March 31, 2017 December 31, 2016 Residential loans contractual balance $ — $ 1,181 Fair value adjustment — 19 Total fair value of residential loans held for sale $ — $ 1,200
Schedule of assets measured at fair value on a non- recurring basis	Assets Measured on a Non-Recurring Basis Fair Value Measurements Using Quoted Prices in Active Markets Significant For Other Significant observable Identical Observable Unobservable March 31, Assets Inputs Inputs (In thousands) 2017 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Primary residential mortgage $ 2,210 $ — $ — $ 2,210 Investment commercial real estate 245 — — 245 December 31, (In thousands) 2016 Assets: Impaired loans: Investment commercial real estate $ 245 $ — $ — $ 245
Schedule of carrying amounts and estimated fair values of financial instruments	The carrying amounts and estimated fair values of financial instruments at March 31, 2017 are as follows: Fair Value Measurements at March 31, 2017 using Carrying (In thousands) Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 118,964 $ 118,964 $ — $ — $ 118,964 Securities available for sale 300,232 4,824 295,408 — 300,232 FHLB and FRB stock 15,436 — — — N/A Loans held for sale, at lower of cost or fair value 128 — 141 — 141 Loans, net of allowance for loan losses 3,406,040 — — 3,386,151 3,386,151 Accrued interest receivable 6,823 — 1,034 5,789 6,823 Cash flow hedges 348 — 348 — 348 Loan level swaps 2,869 — 2,869 — 2,869 Financial liabilities Deposits $ 3,430,644 $ 2,895,903 $ 533,352 $ — $ 3,429,255 Overnight borrowings 34,550 — 34,550 — 34,550 Federal home loan bank advances 58,795 — 59,141 — 59,141 Subordinated debt 48,796 — — 48,798 48,798 Accrued interest payable 1,755 178 827 750 1,755 Cash flow hedge 227 — 227 — 227 Loan level swap 2,869 — 2,869 — 2,869 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

OTHER OPERATING EXPENSES (Table

OTHER OPERATING EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2017
Other Income and Expenses [Abstract]
Schedule of components of other operating expenses	Three Months Ended March 31, (In thousands) 2017 2016 Wealth management division other expense $ 702 $ 622 Professional and legal fees 862 986 Other operating expenses 2,325 2,267 Total other operating expenses $ 3,889 $ 3,875

ACCUMULATED OTHER COMPREHENSI30

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME (Tables)	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Schedule of accumulated other comprehensive income balances, net of tax	Amount Other Reclassified Comprehensive Other From Income Comprehensive Accumulated Three Months Balance at Income Other Ended Balance at January 1, Before Comprehensive March 31, March 31, (In thousands) 2017 Reclassifications Income 2017 2017 Net unrealized holding (loss) on securities available for sale, net of tax $ (1,091 ) $ 397 $ — $ 397 $ (694 ) Gains on cash flow hedges (440 ) 512 — 512 72 Accumulated other comprehensive loss, net of tax $ (1,531 ) $ 909 $ — $ 909 $ (622 ) Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Three Months Balance at Income/(Loss) Other Ended Balance at January 1, Before Comprehensive March 31, March 31, (In thousands) 2016 Reclassifications Loss 2016 2016 Net unrealized holding gain on securities available for sale, net of tax $ 408 $ 688 $ (63 ) $ 625 $ 1,033 Losses on cash flow hedges (787 ) (2,260 ) — (2,260 ) (3,047 ) Accumulated other comprehensive loss, net of tax $ (379 ) $ (1,572 ) $ (63 ) $ (1,635 ) $ (2,014 )
Schedule of the reclassifications out of accumulated other comprehensive income	Three Months Ended March 31, (In thousands) 2017 2016 Affected Line Item in Income Unrealized gains on securities available for sale: Realized net gain on securities sales $ — $ 101 Securities gains, net Income tax expense — (38 ) Income tax expense Total reclassifications, net of tax $ — $ 63

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Information about Derivatives	The following information about the interest rate swaps designated as cash flow hedges as of March 31, 2017 and December 31, 2016 is presented in the following table: (Dollars in thousands) March 31, 2017 December 31, 2016 Notional amount $ 180,000 $ 180,000 Weighted average pay rate 1.64 % 1.64 % Weighted average receive rate 0.83 % 0.58 % Weighted average maturity 3.00 years 3.25 years Unrealized gain/(loss), net $ 121 $ (744 ) Number of contracts 9 9 Information about these swaps is as follows: (Dollars in thousands) March 31, 2017 December 31, 2016 Notional amount $ 155,853 $ 126,810 Fair value $ 2,869 $ 1,543 Weighted average pay rates 3.88 % 3.75 % Weighted average receive rates 2.83 % 2.65 % Weighted average maturity 9.1 years 9.4 years Number of contracts 19 14
Schedule of Net Gains/(Losses)	The following table presents the net gains recorded in accumulated other comprehensive (loss)/income and the consolidated financial statements relating to the cash flow derivative instruments for the three months ended March 31, 2017 (after tax): Amount of Amount of Amount of Gain/(Loss) Gain/(Loss) Gain/(Loss) Recognized in Recognized Reclassified Other Non-Interest In OCI From OCI to Expense (In thousands) (Effective Portion) Interest Expense (Ineffective Portion) Interest rate contracts $ 512 $ — $ — The following table presents the net losses recorded in accumulated other comprehensive (loss)/income and the consolidated financial statements relating to the cash flow derivative instruments for the three months ended March 31, 2016: Amount of Amount of Amount of Gain/(Loss) Gain/(Loss) Gain/(Loss) Recognized in Recognized Reclassified Other Non-Interest In OCI From OCI to Expense (In thousands) (Effective Portion) Interest Expense (Ineffective Portion) Interest rate contracts $ (2,260 ) $ — $ —
Schedule of Notional Amount and Fair Value	The following tables reflect the cash flow hedges included in the financial statements as of March 31, 2017 and December 31, 2016: March 31, 2017 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing demand brokered deposits $ 180,000 $ 121 Total included in other assets $ 85,000 $ 348 Total included in other liabilities $ 95,000 $ (227 ) 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 )

SUMMARY OF SIGNIFICANT ACCOUN32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative - Other) (Details)	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares	Mar. 31, 2016USD ($)shares	Dec. 31, 2016USD ($)
Amount of loans serviced | $	$ 7,300,000		$ 5,800,000
Threshold for determining nonaccrual status	90 days
Antidilutive securities | shares		225,278
Cash dividends declared on common stock, per share | $ / shares	$ 0.05
Finite-Lived Intangible Asset, Useful Life	15 years
Small Business Administration Loans [Member]
Loans held for sale | $	$ 128,000		$ 388,000
Consumer and Other [Member]
Threshold for determining nonaccrual status	120 days
Substandard [Member]
Loan reserve multiple	4		4
Special Mention [Member]
Loan reserve multiple	2		2
Employee Stock [Member]
Number of share purchase rights authorized | shares	150,000
Percentage of closing market price on purchase date	85.00%
Compensation cost | $	$ 30,000	$ 35,000
Issuance of shares for Employee Stock Purchase Plan, shares | shares	5,334	9,544
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 ACCOUN33

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Stock-Based Compensation Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Closing stock price of common stock	$ 29.59
Employee Stock Option [Member]
Option term	10 years
Vesting term	5 years
Unrecognized compensation cost	$ 1
Weighted average period, unrecognized compensation expected to be recognized (in years)	2 months 23 days
Total compensation cost	$ 5	$ 20
Recognized tax benefit		2
Restricted stock [Member]
Unrecognized compensation cost	$ 1,900
Weighted average period, unrecognized compensation expected to be recognized (in years)	9 months 15 days
Total compensation cost	$ 835	$ 589
Restricted stock [Member] | Share-based Compensation Award, Tranche Three [Member]
Vesting term	5 years
Restricted stock [Member] | Share-based Compensation Award, Tranche Two [Member]
Vesting term	3 years
Restricted stock [Member] | Share-based Compensation Award, Tranche One [Member]
Vesting term	1 year
Performance Shares [Member]
Unrecognized compensation cost	$ 1,700
Restricted Stock Units [Member]
Unrecognized compensation cost	$ 5,400
Weighted average period, unrecognized compensation expected to be recognized (in years)	1 year 5 months 27 days

SUMMARY OF SIGNIFICANT ACCOUN34

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Changes in Options Outstanding) (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Number of Options
Balance | shares	179,159
Granted | shares
Exercised | shares	(23,447)
Expired | shares	(7,092)
Forfeited | shares
Balance | shares	148,620
Vested and expected to vest | shares	148,534
Exercisable | shares	147,185
Weighted Average Exercise Price
Balance | $ / shares	$ 16.27
Granted | $ / shares
Exercised | $ / shares	18.78
Expired | $ / shares	26.78
Forfeited | $ / shares
Balance | $ / shares	15.37
Vested and expected to vest | $ / shares	15.38
Exercisable | $ / shares	$ 15.35
Weighted Average Remaining Contractual Term
Balance	3 years 10 months 2 days
Vested and Expected to Vest	3 years 10 months 2 days
Exercisable	3 years 9 months 26 days
Aggregate Intrinsic Value
Balance | $	$ 2,114
Vested and expected to vest | $	2,110
Exercisable | $	$ 2,095

SUMMARY OF SIGNIFICANT ACCOUN35

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Changes in Restricted Common Shares) (Details)	3 Months Ended
	Mar. 31, 2017$ / 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	368,130
Granted | shares	129,628
Vested | shares	(140,053)
Forfeited | shares	(700)
Balance at end | shares	357,005
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 19.26
Granted | $ / shares	30.08
Vested | $ / shares	18.44
Forfeited | $ / shares	18.11
Balance at end | $ / shares	$ 23.51

SUMMARY OF SIGNIFICANT ACCOUN36

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Earnings per Common Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accounting Policies [Abstract]
Net income to shareholders	$ 7,982	$ 5,489
Basic weighted average common shares outstanding (in shares)	17,121,631	15,858,278
Plus: common stock equivalents	317,276	158,694
Diluted weighted-average common shares outstanding	17,438,907	16,016,972
Net Income Per Common Share
Basic	$ 0.47	$ 0.35
Diluted	$ 0.46	$ 0.34

INVESTMENT SECURITIES AVAILAB37

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Amortized Cost and Approximate Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Amortized Cost	$ 301,354	$ 307,146
Gross Unrealized Gains	1,263	1,133
Gross Unrealized Losses	(2,385)	(2,891)
Fair Value	300,232	305,388
U.S. Government-Sponsored Entities [Member]
Amortized Cost	21,992	21,991
Gross Unrealized Losses	(436)	(474)
Fair Value	21,556	21,517
Mortgage-Backed Securities-Residential [Member]
Amortized Cost	236,824	238,271
Gross Unrealized Gains	996	860
Gross Unrealized Losses	(1,236)	(1,514)
Fair Value	236,584	237,617
SBA Pool Securities [Member]
Amortized Cost	6,533	6,778
Gross Unrealized Losses	(62)	(65)
Fair Value	6,471	6,713
State and Political Subdivisions [Member]
Amortized Cost	25,006	29,107
Gross Unrealized Gains	181	160
Gross Unrealized Losses	(191)	(274)
Fair Value	24,996	28,993
Corporate Bond [Member]
Amortized Cost	3,000	3,000
Gross Unrealized Gains	86	113
Fair Value	3,086	3,113
Single-Issuer Trust Preferred Security [Member]
Amortized Cost	2,999	2,999
Gross Unrealized Losses	(284)	(389)
Fair Value	2,715	2,610
CRA Investment Fund [Member]
Amortized Cost	5,000	5,000
Gross Unrealized Losses	(176)	(175)
Fair Value	$ 4,824	$ 4,825

INVESTMENT SECURITIES AVAILAB38

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Securities with Continuous Unrealized Losses) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Approximate Fair Value
Less Than 12 Months	$ 165,013	$ 183,973
12 Months or Longer	16,840	17,364
Total	181,853	201,337
Unrealized Losses
Less Than 12 Months	(1,893)	(2,290)
12 Months or Longer	(492)	(601)
Total	(2,385)	(2,891)
U.S. Government-Sponsored Entities [Member]
Approximate Fair Value
Less Than 12 Months	21,556	21,517
Total	21,556	21,517
Unrealized Losses
Less Than 12 Months	(436)	(474)
Total	(436)	(474)
Mortgage-Backed Securities-Residential [Member]
Approximate Fair Value
Less Than 12 Months	132,074	151,114
12 Months or Longer	4,760	5,147
Total	136,834	156,261
Unrealized Losses
Less Than 12 Months	(1,196)	(1,472)
12 Months or Longer	(40)	(42)
Total	(1,236)	(1,514)
SBA Pool Securities [Member]
Approximate Fair Value
12 Months or Longer	6,471	6,713
Total	6,471	6,713
Unrealized Losses
12 Months or Longer	(62)	(65)
Total	(62)	(65)
State and Political Subdivisions [Member]
Approximate Fair Value
Less Than 12 Months	9,453	9,412
Total	9,453	9,412
Unrealized Losses
Less Than 12 Months	(191)	(274)
Total	(191)	(274)
Single-Issuer Trust Preferred Security [Member]
Approximate Fair Value
12 Months or Longer	2,715	2,610
Total	2,715	2,610
Unrealized Losses
12 Months or Longer	(284)	(389)
Total	(284)	(389)
CRA Investment Fund [Member]
Approximate Fair Value
Less Than 12 Months	1,930	1,930
12 Months or Longer	2,894	2,894
Total	4,824	4,824
Unrealized Losses
Less Than 12 Months	(70)	(70)
12 Months or Longer	(106)	(105)
Total	$ (176)	$ (175)

LOANS (Narrative) (Details)

LOANS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2017	Dec. 31, 2016
Receivables [Abstract]
Impaired non-accrual loans		$ 11,494	$ 11,264
Impaired non-accrual loans performing troubled debt restructured		15,000	17,800
Allowance allocated to troubled debt restructured loans		431	550
Allowance allocated to non accrual loans		203	314
Impaired loans		26,546	29,071
Troubled debt restructurings specific reserves to customers		$ 403	$ 441
Gain on loans held for sale at lower of cost or fair value	$ 124
Proceeds from sales of loans held for sale at lower of cost or fair value	$ 57,436

LOANS (Schedule of Loans Outsta

LOANS (Schedule of Loans Outstanding, by Classification) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Total loans	$ 3,439,650	$ 3,312,144
Unallocated Financing Receivables [Member]
Total loans	477	492
Residential Mortgage [Member] | Residential Portfolio Segment [Member]
Total loans	571,496	527,370
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans	1,468,890	1,459,594
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	573,253	551,233
Commercial Loans [Member] | Commercial Portfolio Segment [Member]
Total loans	687,677	636,714
Construction Loans [Member]
Total loans		1,405
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans	68,055	65,682
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other [Member]
Total loans	$ 69,802	$ 69,654
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%	0.01%
Loans and Finance Receivables [Member] | Residential Mortgage [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	16.61%	15.92%
Loans and Finance Receivables [Member] | Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	42.71%	44.07%
Loans and Finance Receivables [Member] | Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans (in percent)	16.67%	16.65%
Loans and Finance Receivables [Member] | Commercial Loans [Member] | Commercial Portfolio Segment [Member]
Total loans (in percent)	19.99%	19.23%
Loans and Finance Receivables [Member] | Construction Loans [Member]
Total loans (in percent)		0.04%
Loans and Finance Receivables [Member] | Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	1.98%	1.98%
Loans and Finance Receivables [Member] | Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other [Member]
Total loans (in percent)	2.03%	2.10%

LOANS (Schedule of Loan Balance

LOANS (Schedule of Loan Balances by Portfolio Class) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Total loans	$ 3,438,236	$ 3,310,104
Net deferred fees	1,414	2,040
Total loans including net deferred costs	3,439,650	3,312,144
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	8,487	9,206
Consumer and Other [Member]
Total loans	73,880	73,621
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total loans	602,436	557,970
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans	68,055	65,683
Total loans including net deferred costs	68,055	65,682
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans	1,468,890	1,459,594
Total loans including net deferred costs	1,468,890	1,459,594
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	211,573	176,123
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	790,190	752,258
Construction Loans [Member]
Total loans including net deferred costs		1,405
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total loans	96	1,497
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total loans	214,463	213,983
Agricultural Sector [Member]
Total loans	$ 166	$ 169
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)	0.24%	0.28%
Loans and Finance Receivables, Gross [Member] | Consumer and Other [Member]
Total loans (in percent)	2.15%	2.22%
Loans and Finance Receivables, Gross [Member] | Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	17.52%	16.86%
Loans and Finance Receivables, Gross [Member] | Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	1.98%	1.98%
Loans and Finance Receivables, Gross [Member] | Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans (in percent)	42.72%	44.09%
Loans and Finance Receivables, Gross [Member] | Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans (in percent)	6.15%	5.32%
Loans and Finance Receivables, Gross [Member] | Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans (in percent)	22.98%	22.73%
Loans and Finance Receivables, Gross [Member] | Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total loans (in percent)	0.01%	0.04%
Loans and Finance Receivables, Gross [Member] | Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total loans (in percent)	6.24%	6.47%
Loans and Finance Receivables, Gross [Member] | Agricultural Sector [Member]
Total loans (in percent)	0.01%	0.01%

LOANS (Schedule of Balances by

LOANS (Schedule of Balances by Portfolio Class, Based on Impairment Method) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Total Loans Individually Evaluated for Impairment	$ 26,546	$ 29,071
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	754	824
Total Loans Collectively Evaluated for Impairment	3,411,690	3,281,033
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	32,856	31,384
Total Loans	3,438,236	3,310,104
Total Ending ALLL	33,610	32,208	$ 27,321	$ 25,856
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans Individually Evaluated for Impairment	111	229
Total Loans Collectively Evaluated for Impairment	8,376	8,977
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	15	16
Total Loans	8,487	9,206
Total Ending ALLL	15	16	13	66
Consumer and Other [Member]
Total Loans Collectively Evaluated for Impairment	73,880	73,621
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	236	243
Total Loans	73,880	73,621
Total Ending ALLL	236	243	136	112
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	13,556	15,814
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	475	456
Total Loans Collectively Evaluated for Impairment	588,880	542,156
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	3,453	3,210
Total Loans	602,436	557,970
Total Ending ALLL	3,928	3,666	2,503	2,297
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	53	53
Total Loans Collectively Evaluated for Impairment	68,002	65,630
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	231	233
Total Loans	68,055	65,683
Total Ending ALLL	231	233	133	86
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans Collectively Evaluated for Impairment	1,468,890	1,459,594
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	11,767	11,192
Total Loans	1,468,890	1,459,594
Total Ending ALLL	11,767	11,192	11,631	11,813
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	1,461	1,486
Total Loans Collectively Evaluated for Impairment	210,112	174,637
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2,235	1,774
Total Loans	211,573	176,123
Total Ending ALLL	2,235	1,774	1,683	1,679
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	11,297	11,335
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	211	214
Total Loans Collectively Evaluated for Impairment	778,893	740,923
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	10,672	10,695
Total Loans	790,190	752,258
Total Ending ALLL	10,883	10,909	8,527	7,590
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total Loans Collectively Evaluated for Impairment	96	1,497
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	1	9
Total Loans	96	1,497
Total Ending ALLL	1	9	2	2
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	68	154
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	68	154
Total Loans Collectively Evaluated for Impairment	214,395	213,829
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	4,244	4,010
Total Loans	214,463	213,983
Total Ending ALLL	4,312	4,164	2,691	2,209
Agricultural Sector [Member]
Total Loans Collectively Evaluated for Impairment	166	169
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2	2
Total Loans	166	169
Total Ending ALLL	$ 2	$ 2	$ 2	$ 2

LOANS (Schedule of Schedule of

LOANS (Schedule of Schedule of Loans Individually Evaluated for Impairment) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Unpaid Principal Balance
With no related allowance recorded	$ 22,647	$ 27,659
With related allowance recorded	6,115	3,631
Total loans individually evaluated impairment	28,762	31,290
Recorded Investment
With no related allowance recorded	21,048	25,569
With related allowance recorded	5,498	3,502
Total loans individually evaluated impairment	26,546	29,071
Specific Reserves	754	824
Average Impaired Loans
With no related allowance recorded	20,307	21,944
With related allowance recorded	5,536	3,465
Total loans individually evaluated impairment	25,843	25,409
Residential Portfolio Segment [Member] | Junior Lien [Member]
Unpaid Principal Balance
With no related allowance recorded	164	280
Recorded Investment
With no related allowance recorded	111	229
Average Impaired Loans
With no related allowance recorded	80	339
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	11,160	16,015
With related allowance recorded	4,363	1,787
Recorded Investment
With no related allowance recorded	9,741	14,090
With related allowance recorded	3,815	1,724
Specific Reserves	475	456
Average Impaired Loans
With no related allowance recorded	8,993	10,038
With related allowance recorded	3,810	1,678
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	1,586	1,597
Recorded Investment
With no related allowance recorded	1,461	1,486
Average Impaired Loans
With no related allowance recorded	1,473	1,450
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	9,682	9,711
With related allowance recorded	1,632	1,640
Recorded Investment
With no related allowance recorded	9,682	9,711
With related allowance recorded	1,615	1,624
Specific Reserves	211	214
Average Impaired Loans
With no related allowance recorded	9,692	9,974
With related allowance recorded	1,618	1,642
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Unpaid Principal Balance
With no related allowance recorded	55	56
Recorded Investment
With no related allowance recorded	53	53
Average Impaired Loans
With no related allowance recorded	53	143
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Unpaid Principal Balance
With related allowance recorded	120	204
Recorded Investment
With related allowance recorded	68	154
Specific Reserves	68	154
Average Impaired Loans
With related allowance recorded	$ 108	$ 145

LOANS (Schedule of Investment i

LOANS (Schedule of Investment in Nonaccrual and Loans Past Due Over 90 Days) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Impaired non-accrual loans	$ 11,494	$ 11,264
Loans Past Due Over 90 Days And Still Accruing Interest
Residential Portfolio Segment [Member] | Junior Lien [Member]
Impaired non-accrual loans	112	115
Loans Past Due Over 90 Days And Still Accruing Interest
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Impaired non-accrual loans	9,415	9,071
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	30
Loans Past Due Over 90 Days And Still Accruing Interest
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Impaired non-accrual loans	1,461	1,486
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	68	154
Loans Past Due Over 90 Days And Still Accruing Interest

LOANS (Schedule of Schedule o45

LOANS (Schedule of Schedule of Aging of Past Due Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Total Past Due	$ 622	$ 1,356
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Past Due		25
30 to 59 Days Past Due [Member]
Total Past Due	622	851
60 to 89 Days Past Due [Member]
Total Past Due		505
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	622	1,100
Primary Residential Mortgages [Member] | 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member]
Total Past Due	$ 622	620
Primary Residential Mortgages [Member] | 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member]
Total Past Due		480
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 o46

LOANS (Schedule of Schedule of Risk Category of Loans by Class of Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Total Loans	$ 3,438,236	$ 3,310,104
Impaired loans	28,762	31,290
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans	8,487	9,206
Consumer and Other [Member]
Total Loans	73,880	73,621
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans	602,436	557,970
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans	68,055	65,683
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans	1,468,890	1,459,594
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	211,573	176,123
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	790,190	752,258
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total Loans	96	1,497
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Loans	214,463	213,983
Agricultural Sector [Member]
Total Loans	166	169
Pass [Member]
Total Loans	3,380,697	3,251,155
Pass [Member] | Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans	8,375	8,977
Pass [Member] | Consumer and Other [Member]
Total Loans	73,880	73,621
Pass [Member] | Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans	587,994	541,359
Pass [Member] | Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans	68,002	65,630
Pass [Member] | Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans	1,464,262	1,456,328
Pass [Member] | Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	206,478	170,851
Pass [Member] | Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	762,376	724,203
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	209,164	208,617
Pass [Member] | Agricultural Sector [Member]
Total Loans	166	169
Special Mention [Member]
Total Loans	14,536	13,151
Special Mention [Member] | Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans	751	660
Special Mention [Member] | Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans	4,234	2,867
Special Mention [Member] | Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	5,025	5,116
Special Mention [Member] | Construction Loans [Member] | Commercial Portfolio Segment [Member]
Total Loans	96	97
Special Mention [Member] | Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Loans	4,430	4,411
Substandard [Member]
Total Loans	43,003	45,798
Impaired loans	25,300	27,900
Substandard [Member] | Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans	112	229
Substandard [Member] | Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Total Loans	13,691	15,951
Substandard [Member] | Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total Loans	53	53
Substandard [Member] | Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total Loans	394	399
Substandard [Member] | Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	5,095	5,272
Substandard [Member] | Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Total Loans	22,789	22,939
Substandard [Member] | Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Loans	$ 869	$ 955

LOANS (Schedule of Activity in

LOANS (Schedule of Activity in Allowance for Loan Losses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Allowance for loan losses
Beginning ALLL	$ 32,208	$ 25,856
Charge-Offs	(222)	(275)
Recoveries	24	40
Provision (Credit)	1,600	1,700
Ending ALLL	33,610	27,321
Residential Portfolio Segment [Member] | Junior Lien [Member]
Allowance for loan losses
Beginning ALLL	16	66
Charge-Offs	(57)
Recoveries	6	17
Provision (Credit)	50	(70)
Ending ALLL	15	13
Consumer and Other [Member]
Allowance for loan losses
Beginning ALLL	243	112
Charge-Offs	(3)	(1)
Recoveries		1
Provision (Credit)	(4)	24
Ending ALLL	236	136
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	3,666	2,297
Charge-Offs	(138)	(13)
Recoveries	1	14
Provision (Credit)	399	205
Ending ALLL	3,928	2,503
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	233	86
Recoveries	4	2
Provision (Credit)	(6)	45
Ending ALLL	231	133
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	11,192	11,813
Provision (Credit)	575	(182)
Ending ALLL	11,767	11,631
Owner Occupied Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	1,774	1,679
Provision (Credit)	461	4
Ending ALLL	2,235	1,683
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	10,909	7,590
Charge-Offs		(258)
Recoveries	4	2
Provision (Credit)	(30)	1,193
Ending ALLL	10,883	8,527
Construction Loans [Member] | Commercial Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	9	2
Provision (Credit)	(8)
Ending ALLL	1	2
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Allowance for loan losses
Beginning ALLL	4,164	2,209
Charge-Offs	(24)	(3)
Recoveries	9	4
Provision (Credit)	163	481
Ending ALLL	4,312	2,691
Agricultural Sector [Member]
Allowance for loan losses
Beginning ALLL	2	2
Ending ALLL	$ 2	$ 2

LOANS (Schedule of Loans Modifi

LOANS (Schedule of Loans Modified as Troubled Debt Restructurings) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)N	Mar. 31, 2016USD ($)N
Number of Contracts | N	3	2
Pre-Modification Outstanding Recorded Investment	$ 611	$ 1,133
Post-Modification Outstanding Recorded Investment	$ 611	$ 1,133
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Number of Contracts | N	3	2
Pre-Modification Outstanding Recorded Investment	$ 611	$ 1,133
Post-Modification Outstanding Recorded Investment	$ 611	$ 1,133

DEPOSITS (Details of Total Depo

DEPOSITS (Details of Total Deposits) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Deposits [Abstract]
Time deposits over $250,000	$ 117,600	$ 11,800
Deposits:
Noninterest-bearing demand deposits	528,554	489,485
Interest-bearing deposits checking	1,015,178	1,023,081
Savings	122,262	120,056
Money market	1,049,909	1,048,494
Certificates of deposit - Retail	440,991	457,000
Sub-total	3,156,894	3,138,116
Interest-bearing demand - Brokered	180,000	180,000
Certificates of deposit - Brokered	93,750	93,721
Total deposits	3,430,644	3,411,837
Reciprocal balances	$ 402,800	$ 39,300
%
Noninterest-bearing demand deposits	15.41%	14.35%
Interest-bearing checking	29.59%	29.99%
Savings	3.56%	3.52%
Money market	30.60%	30.73%
Certificates of deposit	12.86%	13.39%
Sub-total	92.02%	91.98%
Interest-bearing demand - Brokered	5.25%	5.27%
Certificates of deposit - Brokered	2.73%	2.75%
Total deposits	100.00%	100.00%

DEPOSITS (Scheduled Maturities

DEPOSITS (Scheduled Maturities of Time Deposits) (Details) $ in Thousands	Mar. 31, 2017USD ($)
Scheduled maturities of time deposits
2,017	$ 114,997
2,018	213,112
2,019	77,234
2,020	35,030
2,021	14,293
Over 5 Years	80,075
Total	$ 534,741

FEDERAL HOME LOAN BANK ADVANC51

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Advances from Federal Home Loan Banks	$ 58,795	$ 61,795
FHLB interest rate	2.07%	2.02%
Advances with fixed maturity dates	$ 46,800	$ 49,800
Weighted average interest rate on fixed maturity advances	1.82%	1.78%
Residential mortgages pledged as collateral for advances	$ 451,700	$ 468,300
Multifamily mortgage loans pledged as collateral for advances	930,300	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	$ 13,600
Overnight borrowings of debt	$ 34,550
Average interest rate of FHLB advances	1.00%
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	$ 614,200

FEDERAL HOME LOAN BANK ADVANC52

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Schedule of Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Federal Home Loan Bank Advances Maturities Summary
2,017	$ 20,897
2,018	34,898
2,019	3,000
2,020
2,021
Over 5 years
Total	$ 58,795	$ 61,795

BUSINESS SEGMENTS (Details)

BUSINESS SEGMENTS (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)segments	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
Number of Operating Segments | segments	2
Net interest income	$ 25,591	$ 23,410
Noninterest income	7,019	6,263
Total income	32,610	29,673
Provision for loan losses	1,600	1,700
Salaries and benefits	11,913	10,908
Premises and equipment	2,816	2,864
Other noninterest expense	3,889	3,875
Total noninterest expense	20,904	20,906
INCOME BEFORE INCOME TAX EXPENSE	11,706	8,767
Income tax expense	3,724	3,278
NET INCOME	7,982	5,489
Total assets at period end	3,947,562	3,465,997	$ 3,878,633
Banking [Member]
Net interest income	24,031	21,990
Noninterest income	2,094	1,880
Total income	26,125	23,870
Provision for loan losses	1,600	1,700
Salaries and benefits	9,314	8,813
Premises and equipment	2,537	2,637
Other noninterest expense	2,702	3,917
Total noninterest expense	16,153	17,067
INCOME BEFORE INCOME TAX EXPENSE	9,972	6,803
Income tax expense	3,173	2,514
NET INCOME	6,799	4,289
Total assets at period end	3,901,134	3,412,745
Wealth Management Division [Member]
Net interest income	1,560	1,420
Noninterest income	4,925	4,383
Total income	6,485	5,803
Provision for loan losses
Salaries and benefits	2,599	2,095
Premises and equipment	279	227
Other noninterest expense	1,873	1,517
Total noninterest expense	4,751	3,839
INCOME BEFORE INCOME TAX EXPENSE	1,734	1,964
Income tax expense	551	764
NET INCOME	1,183	1,200
Total assets at period end	$ 46,428	$ 53,252

FAIR VALUE (Narrative) (Details

FAIR VALUE (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Impaired collateral loans recorded investment	$ 2,870	$ 408
Impaired collateral loans valuation allowance	$ 420	$ 163
Loans Receivable [Member] | Property A [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	15.00%
Age of appraisal	12 months

FAIR VALUE (Schedule of Assets

FAIR VALUE (Schedule of Assets Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Securities available for sale	$ 300,232	$ 305,388
Loans held for sale, at fair value		1,200
U.S. Government-Sponsored Entities [Member]
Securities available for sale	21,556	21,517
Mortgage-Backed Securities-Residential [Member]
Securities available for sale	236,584	237,617
State and Political Subdivisions [Member]
Securities available for sale	24,996	28,993
Single-Issuer Trust Preferred Security [Member]
Securities available for sale	2,715	2,610
CRA Investment Fund [Member]
Securities available for sale	4,824	4,825
SBA Pool Securities [Member]
Securities available for sale	6,471	6,713
Corporate Bond [Member]
Securities available for sale	3,086	3,113
Recurring Basis [Member]
Loans held for sale, at fair value		1,200
Total	303,449	308,254
Derivatives	(3,096)	(2,410)
Recurring Basis [Member] | U.S. Government-Sponsored Entities [Member]
Securities available for sale	21,556	21,517
Recurring Basis [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale	236,584	237,617
Recurring Basis [Member] | State and Political Subdivisions [Member]
Securities available for sale	24,996	28,993
Recurring Basis [Member] | Single-Issuer Trust Preferred Security [Member]
Securities available for sale	2,715	2,610
Recurring Basis [Member] | CRA Investment Fund [Member]
Securities available for sale	4,824	4,825
Recurring Basis [Member] | SBA Pool Securities [Member]
Securities available for sale	6,471	6,713
Recurring Basis [Member] | Corporate Bond [Member]
Securities available for sale	3,086	3,113
Recurring Basis [Member] | Designated as Hedging Instrument [Member]
Derivatives	348	123
Derivatives	(227)	(867)
Recurring Basis [Member] | Not Designated as Hedging Instrument [Member]
Derivatives	2,569	1,543
Derivatives	(2,869)	(1,543)
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member]
Loans held for sale, at fair value		1,200
Total	298,625	303,429
Derivatives	(3,096)	(2,410)
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | U.S. Government-Sponsored Entities [Member]
Securities available for sale	21,556	21,517
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale	236,584	237,617
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | State and Political Subdivisions [Member]
Securities available for sale	24,996	28,993
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | Single-Issuer Trust Preferred Security [Member]
Securities available for sale	2,715	2,610
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | SBA Pool Securities [Member]
Securities available for sale	6,471	6,713
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | Corporate Bond [Member]
Securities available for sale	3,086	3,113
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | Designated as Hedging Instrument [Member]
Derivatives	348	123
Derivatives	(227)	(867)
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member] | Not Designated as Hedging Instrument [Member]
Derivatives	2,869	1,543
Derivatives	(2,869)	(1,543)
Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Recurring Basis [Member]
Total	4,824	4,825
Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Recurring Basis [Member] | CRA Investment Fund [Member]
Securities available for sale	$ 4,824	$ 4,825

FAIR VALUE (Schedule of Residen

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

FAIR VALUE (Schedule of Asset57

FAIR VALUE (Schedule of Assets Measured on a Non-Recurring Basis) (Details) - Non-Recurring Basis [Member] - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Impaired loans	$ 2,210
Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Impaired loans	245	$ 245
Significant Unobservable Inputs (Level 3) [Member] | Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Impaired loans	2,210
Significant Unobservable Inputs (Level 3) [Member] | Investment Property [Member] | Commercial Real Estate Portfolio Segment [Member]
Impaired loans	$ 245	$ 245

FAIR VALUE (Schedule of Financi

FAIR VALUE (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Financial Assets:
Securities available for sale	$ 300,232	$ 305,388
FHLB and FRB Stock	15,436	13,813
Loans held for sale, at fair value		1,200
Loans held for sale, at lower of cost or fair value	128	388
Accrued interest receivable	6,823	8,153
Financial Liabilities:
Federal home loan bank advances	58,795	61,795
Fair value [Member]
Financial Assets:
Cash and cash equivalents	118,964	162,691
Securities available for sale	300,232	305,388
FHLB and FRB Stock
Loans held for sale, at fair value		1,200
Loans held for sale, at lower of cost or fair value	141	428
Loans, net of allowance for loan losses	3,386,151	3,256,837
Accrued interest receivable	6,823	8,153
Financial Liabilities:
Deposits	3,429,255	3,410,448
Overnight borrowings	34,550
Federal home loan bank advances	59,141	62,286
Subordinated debt	48,798	48,768
Accrued interest payable	1,755	1,127
Fair value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	2,869	1,543
Financial Liabilities:
Derivatives	2,869	1,543
Fair value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	348	123
Financial Liabilities:
Derivatives	227	867
Carrying Value [Member]
Financial Assets:
Cash and cash equivalents	118,964	162,691
Securities available for sale	300,232	305,388
FHLB and FRB Stock	15,436	13,813
Loans held for sale, at fair value		1,200
Loans held for sale, at lower of cost or fair value	128	388
Loans, net of allowance for loan losses	3,406,040	3,279,936
Accrued interest receivable	6,823	8,153
Financial Liabilities:
Deposits	3,430,644	3,411,837
Overnight borrowings	34,550
Federal home loan bank advances	58,795	61,795
Subordinated debt	48,796	48,764
Accrued interest payable	1,755	1,127
Carrying Value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	2,869	1,543
Financial Liabilities:
Derivatives	2,869	1,543
Carrying Value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	348	123
Financial Liabilities:
Derivatives	227	867
Significant Unobservable Inputs (Level 3) [Member] | Fair value [Member]
Financial Assets:
Loans, net of allowance for loan losses	3,386,151	3,256,837
Accrued interest receivable	5,789	7,254
Financial Liabilities:
Subordinated debt	48,798	48,768
Accrued interest payable	750
Significant Other Observable Inputs (Level 2) [Member] | Fair value [Member]
Financial Assets:
Securities available for sale	295,408	300,563
Loans held for sale, at fair value		1,200
Loans held for sale, at lower of cost or fair value	141	428
Accrued interest receivable	1,034	899
Financial Liabilities:
Deposits	533,352	549,332
Overnight borrowings	34,550
Federal home loan bank advances	59,141	62,286
Accrued interest payable	827	966
Significant Other Observable Inputs (Level 2) [Member] | Fair value [Member] | Not Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	2,869	1,543
Financial Liabilities:
Derivatives	2,869	1,543
Significant Other Observable Inputs (Level 2) [Member] | Fair value [Member] | Designated as Hedging Instrument [Member]
Financial Assets:
Derivatives	348	123
Financial Liabilities:
Derivatives	227	867
Quoted Prices in Active Market For Identical Assets (Level 1) [Member] | Fair value [Member]
Financial Assets:
Cash and cash equivalents	118,964	162,691
Securities available for sale	4,824	4,825
Financial Liabilities:
Deposits	2,895,903	2,861,116
Accrued interest payable	$ 178	$ 161

OTHER OPERATING EXPENSES (Detai

OTHER OPERATING EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other operating expenses
Wealth management division other expense	$ 702	$ 622
Professional and legal fees	862	986
Other operating expenses	2,325	2,267
Total other operating expenses	$ 3,889	$ 3,875

ACCUMULATED OTHER COMPREHENSI60

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME (Schedule of Accumulated Other Comprehensive Income Balances, Net of Tax) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 324,210
Total other comprehensive income/(loss)	909	$ (1,635)
Balance	340,928
Net Unrealized Holding Gain/(Loss) on Securities Available for Sale, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(1,091)	408
Other Comprehensive Income/(Loss) Before Reclassifications	397	688
Amount Reclassified From Accumulated Other Comprehensive (Income)		(63)
Total other comprehensive income/(loss)	397	625
Balance	(694)	1,033
Losses on Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(1,531)	(787)
Other Comprehensive Income/(Loss) Before Reclassifications	512	(2,260)
Amount Reclassified From Accumulated Other Comprehensive (Income)
Total other comprehensive income/(loss)	512	(2,260)
Balance	72	(3,047)
Accumulated Other Comprehensive Income/(Loss), Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(1,531)	(379)
Other Comprehensive Income/(Loss) Before Reclassifications	909	(1,572)
Amount Reclassified From Accumulated Other Comprehensive (Income)		(63)
Total other comprehensive income/(loss)	909	(1,635)
Balance	$ (622)	$ (2,014)

ACCUMULATED OTHER COMPREHENSI61

ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME (Schedule of Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities gains, net		$ 101
Income tax expense	(3,724)	(3,278)
Net income	$ 7,982	5,489
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense		(38)
Net income		63
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		$ 101

DERIVATIVES (Details)

DERIVATIVES (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)N	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)N
Derivative [Line Items]
Interest expense	$ 5,794	$ 4,488
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount	$ 180,000		$ 180,000
Weighted average pay rate	1.64%		1.64%
Weighted average receive rate	0.83%		0.58%
Weighted average maturity	3 years		3 years 4 months
Unrealized loss	$ 121		$ (744)
Number of contracts | N	9		9
Interest expense	$ 361	504
Amount of Gain/(Loss) Recognized In OCI (Effective Portion)	512	$ (2,260)
Fair Value	121		$ (744)
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount	$ 155,853		$ 126,810
Weighted average pay rate	3.88%		3.75%
Weighted average receive rate	2.83%		2.65%
Weighted average maturity	9 years 1 month 6 days		9 years 4 months 24 days
Number of contracts | N	19		14
Fair Value	$ 2,869		$ 1,543
Other Liabilities [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount	95,000		150,000
Fair Value	(227)		(867)
Other Assets [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional Amount	85,000		30,000
Fair Value	$ 348		$ 123

SUBORDINATED DEBT (Details)

SUBORDINATED DEBT (Details) $ in Millions	1 Months Ended
	Jun. 30, 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