Peapack-Gladstone Financial (PGC) 10-K 13 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Feb. 28, 2020	Jun. 30, 2019
Cover [Abstract]
Entity Registrant Name	PEAPACK GLADSTONE FINANCIAL CORP
Entity Central Index Key	0001050743
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Public Float			$ 526
Entity Common Stock, Shares Outstanding		18,795,220
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Trading Symbol	PGC
Entity File Number	001-16197
Entity Tax Identification Number	22-3537895
Entity Address, Address Line One	500 Hills Drive
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Bedminster
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07921
City Area Code	908
Local Phone Number	234-0700
Entity Incorporation, State or Country Code	NJ
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, No par value
Security Exchange Name	NASDAQ
Documents Incorporated by Reference	Portions of the Company’s Definitive Proxy Statement for the Company’s 2020 Annual Meeting of Shareholders (the “2020 Proxy Statement”) are incorporated by reference into Part III. The Company expects to file the 2020 Proxy Statement within 120 days of December 31, 2019.

CONSOLIDATED STATEMENTS OF COND

CONSOLIDATED STATEMENTS OF CONDITION - USD ($)	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash and due from banks	$ 6,591,000	$ 5,914,000
Federal funds sold	102,000	101,000
Interest-earning deposits	201,492,000	154,758,000
Total cash and cash equivalents	208,185,000	160,773,000
Securities available for sale	390,755,000	377,936,000
Equity security, at fair value	10,836,000	4,719,000
FHLB and FRB stock, at cost	24,068,000	18,533,000
Loans held for sale, at fair value	2,881,000	1,576,000
Loans held for sale, at lower of cost or fair value	14,667,000	3,542,000
Loans	4,394,137,000	3,927,931,000
Less: allowance for loan losses	43,676,000	38,504,000
Net loans	4,350,461,000	3,889,427,000
Premises and equipment	20,913,000	27,408,000
Other real estate owned	50,000	0
Accrued interest receivable	10,494,000	10,814,000
Bank owned life insurance	46,128,000	45,353,000
Goodwill	30,208,000	24,417,000
Other intangible assets	10,380,000	7,982,000
Finance lease right-of-use assets	5,078,000
Operating lease right-of-use assets	12,132,000
Other assets	45,643,000	45,378,000
Total assets	5,182,879,000	4,617,858,000
Deposits:
Noninterest-bearing demand deposits	529,281,000	463,926,000
Interest-bearing deposits:
Checking	1,510,363,000	1,247,305,000
Savings	112,652,000	114,674,000
Money market accounts	1,196,313,000	1,243,369,000
Certificates of deposit - retail	633,763,000	510,724,000
Certificates of deposit - listing service	47,430,000	79,195,000
Subtotal deposits	4,029,802,000	3,659,193,000
Interest-bearing demand – Brokered	180,000,000	180,000,000
Certificates of deposit - Brokered	33,709,000	56,147,000
Total deposits	4,243,511,000	3,895,340,000
Short-term borrowings	128,100,000
FHLB advances	105,000,000	108,000,000
Finance lease liabilities	7,598,000	8,362,000
Operating lease liabilities	12,423,000
Subordinated debt, net	83,417,000	83,193,000
Deferred tax liabilities, net	26,151,000	16,029,000
Due to brokers, securities settlements	7,951,000
Accrued expenses and other liabilities	65,076,000	37,921,000
Total liabilities	4,679,227,000	4,148,845,000
SHAREHOLDERS’ EQUITY
Preferred stock (no par value; authorized 500,000 shares)
Common stock (no par value; stated value $0.83 per share; authorized 42,000,000 shares; issued shares, 20,074,766 at December 31, 2019 and 19,745,840 at December 31, 2018; outstanding shares, 18,926,810 at December 31, 2019 and 19,337,662 at December 31, 2018)	16,733,000	16,459,000
Surplus	319,375,000	309,088,000
Treasury stock at cost (1,147,956 shares at December 31, 2019 and 408,178 at December 31, 2018)	(29,990,000)	(8,988,000)
Retained earnings	199,029,000	154,799,000
Accumulated other comprehensive loss	(1,495,000)	(2,345,000)
Total shareholders’ equity	503,652,000	469,013,000
Total liabilities and shareholders’ equity	$ 5,182,879,000	$ 4,617,858,000

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF CONDITION (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0	$ 0
Preferred stock, shares authorized	500,000	500,000
Common stock, stated value	$ 0.83	$ 0.83
Common stock, shares authorized	42,000,000	42,000,000
Common stock, shares issued	20,074,766	19,745,840
Common stock, shares outstanding	18,926,810	19,337,662
Treasury stock, shares	1,147,956	408,178

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
INTEREST INCOME
Loans, including fees	$ 165,663	$ 148,576	$ 130,971
Securities available for sale:
Taxable	10,228	8,903	6,271
Tax-exempt	322	401	464
Interest-earning deposits	4,457	1,806	1,021
Total interest income	180,670	159,686	138,727
INTEREST EXPENSE
Checking accounts	13,697	8,125	4,229
Savings and money market accounts	18,589	12,806	6,375
Certificates of deposit	14,210	9,938	7,118
Overnight and short-term borrowings	574	2,155	220
Federal Home Loan Bank advances	3,367	1,451	1,143
Finance lease liability	382	418	451
Subordinated debt	4,895	4,887	3,206
Subtotal – interest expense	55,714	39,780	22,742
Interest-bearing demand - brokered	3,457	3,135	2,934
Interest on certificates of deposits – brokered	1,225	1,608	1,910
Total interest expense	60,396	44,523	27,586
Net interest income before provision for loan and lease losses	120,274	115,163	111,141
Provision for loan and lease losses	4,000	3,550	5,850
Net interest income after provision for loan and lease losses	116,274	111,613	105,291
OTHER INCOME
Wealth management fee income	38,363	33,245	23,183
Service charges and fees	3,488	3,502	3,239
Bank owned life insurance	1,321	1,381	1,356
Gain on loans held for sale at fair value (mortgage banking)	721	334	401
(Loss)/gain on loans held for sale at lower of cost or fair value	(10)	(4,392)	412
Fee income related to loan level, back-to-back swaps	5,799	3,844	2,814
Gain on sale of SBA loans	2,145	1,636	1,564
Other income	2,752	5,036	1,658
Securities gains/(losses), net	117	(393)
Total other income	54,696	44,193	34,627
OPERATING EXPENSES
Compensation and employee benefits	70,129	62,802	53,956
Premises and equipment	14,735	13,497	11,988
FDIC insurance expense	277	2,443	2,366
Other operating expenses	19,707	19,344	17,301
Total operating expenses	104,848	98,086	85,611
Income before income tax expense	66,122	57,720	54,307
Income tax expense	18,688	13,550	17,810
Net income	$ 47,434	$ 44,170	$ 36,497
EARNINGS PER SHARE
Basic	$ 2.46	$ 2.33	$ 2.07
Diluted	$ 2.44	$ 2.31	$ 2.03

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 47,434	$ 44,170	$ 36,497
Unrealized gains/(losses) on available for sale securities:
Unrealized gains/(losses) arising during the period	5,305	(1,462)	(1,169)
Less: Reclassification adjustment for net losses/(gains) included in net income		288
Before tax	5,305	(1,174)	(1,169)
Tax effect	(1,293)	255	438
Net of tax	4,012	(919)	(731)
Unrealized (loss)/gain on cash flow hedge
Unrealized holding (loss)/gain	(4,252)	(328)	2,138
Reclassification adjustment for losses included in net income	(223)	(124)
Before tax	(4,475)	(452)	2,138
Tax effect	1,313	111	(873)
Net of tax	(3,162)	(341)	1,265
Total other comprehensive income/(loss)	850	(1,260)	534
Total comprehensive income	$ 48,284	$ 42,910	$ 37,031

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Surplus [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]
Balance at Dec. 31, 2016	$ 324,210	$ 14,717	$ 238,708	$ (8,988)	$ 81,304	$ (1,531)
Net income	36,497				36,497
Other comprehensive income (loss)	534					534
Restricted stock units issued		62	(62)
Restricted stock awards forfeitures		(1)	1
Restricted stock units/awards repurchased on vesting to pay taxes	(1,826)	(49)	(1,777)
Amortization of restricted stock awards/units	3,741		3,741
Cash dividends declared on common stock	(3,548)				(3,548)
Common stock option expense	6		6
Common stock options exercised and related tax benefits	690	42	648
Sales of shares (Dividend Reinvestment Program)	36,588	1,004	35,584
Issuance of shares for Employee Stock Purchase Plan	797	21	776
Issuance of shares for Employee's Savings and Investment plan	889	25	864
Issuance of common stock for acquisition	1,500	37	1,463
Issuance of stock offering net of costs	3,600		3,600
Reclassification of certain deferred tax effects					215	(215)
Balance at Dec. 31, 2017	403,678	15,858	283,552	(8,988)	114,468	(1,212)
Cumulative effect adjustment for adoption of Accounting Standard Update (ASU 2016-01 [Member]) at Dec. 31, 2017					(127)	127
Adjusted Balance at Dec. 31, 2017	403,678	15,858	283,552	(8,988)	114,341	(1,085)
Net income	44,170				44,170
Other comprehensive income (loss)	(1,260)					(1,260)
Restricted stock units issued		76	(76)
Restricted stock awards forfeitures		(78)	78
Restricted stock units/awards repurchased on vesting to pay taxes	(1,540)	(38)	(1,502)
Amortization of restricted stock awards/units	4,445		4,445
Cash dividends declared on common stock	(3,712)				(3,712)
Common stock options exercised and related tax benefits	275	19	256
Sales of shares (Dividend Reinvestment Program)	16,677	452	16,225
Issuance of shares for Employee Stock Purchase Plan	958	24	934
Issuance of shares for Employee's Savings and Investment plan	1,039	29	1,010
Issuance of common stock for acquisition	4,283	117	4,166
Balance at Dec. 31, 2018	469,013	16,459	309,088	(8,988)	154,799	(2,345)
Cumulative effect adjustment for adoption of Accounting Standard Update (ASU 842 [Member]) at Dec. 31, 2018	661				661
Adjusted Balance at Dec. 31, 2018	469,674	16,459	309,088	(8,988)	155,460	(2,345)
Net income	47,434				47,434
Other comprehensive income (loss)	850					850
Restricted stock units issued		120	(120)
Restricted stock units/awards repurchased on vesting to pay taxes	(1,106)	(33)	(1,073)
Amortization of restricted stock awards/units	5,909		5,909
Cash dividends declared on common stock	(3,865)				(3,865)
Common stock options exercised and related tax benefits	251	15	236
Issuance of shares for Employee Stock Purchase Plan	533	16	517
Shares repurchase	(21,002)			(21,002)
Issuance of common stock for acquisition	4,974	154	4,820
Exercise of warrants		2	(2)
Balance at Dec. 31, 2019	$ 503,652	$ 16,733	$ 319,375	$ (29,990)	$ 199,029	$ (1,495)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Shares outstanding	19,337,662
Common stock options exercised and related tax benefits, shares	18,660
Issuance of shares for Employee Stock Purchase Plan, shares	18,740	29,273	25,404
Share repurchase, share	(739,778)
Shares outstanding	18,926,810	19,337,662
Common Stock [Member]
Shares outstanding	19,337,662	18,619,634	17,257,995
Restricted stock units issued, shares	144,026	90,771	74,936
Restricted stock awards forfeitures, shares	(40,197)	(94,034)	(479)
Restricted stock repurchased on vesting to pay taxes, shares		(45,404)	(58,598)
Cash dividends declared on common stock, per share	$ 0.20	$ 0.20	$ 0.20
Common stock options exercised and related tax benefits, shares	18,660	23,148	50,473
Common stock options exercised, used to exercise, shares		2,374	8,764
Common stock options exercised, net of shares used to exercise, shares		20,774	41,709
Sales of shares (Dividend Reinvestment Program), shares		542,302	1,204,710
Issuance of shares for Employee Stock Purchase Plan, shares	18,740	29,273	25,404
Share repurchase, share	(739,778)
Issuance of shares for Employee's Savings and Investment plan, shares		34,449	30,123
Issuance of common stock for acquisition, shares	184,806	139,897	43,834
Exercise of warrants, shares	7,109
Exercise of warrants, used to exercise, shares	4,218
Exercise of warrants, net of shares used to exercise, shares	2,891
Shares outstanding	18,926,810	19,337,662	18,619,634

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities:
Net income		$ 47,434,000	$ 44,170,000	$ 36,497,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		3,122,000	3,127,000	3,275,000
Amortization of premium and accretion of discount on securities, net		1,782,000	1,399,000	1,697,000
Amortization of restricted stock		5,909,000	4,445,000	3,741,000
Amortization of intangible assets		1,043,000	1,187,000	321,000
Amortization of subordinated debt costs		224,000	169,000	135,000
Provision for loan and lease losses		4,000,000	3,550,000	5,850,000
Valuation allowance on other real estate owned			232,000
Stock-based compensation and employee stock purchase plan expense		158,000	189,000	122,000
Deferred tax expense		10,013,000	17,042,000	14,118,000
Fair value adjustment for equity security		(117,000)	105,000
Loss on sale of securities, available for sale, net			288,000
Proceeds from sales of loans held for sale	[1]	73,709,000	44,483,000	45,763,000
Loans originated for sale	[1]	(75,588,000)	(44,075,000)	(43,381,000)
Gain on loans held for sale	[1]	(2,866,000)	(1,970,000)	(1,965,000)
Loss/(gain) on sale of loans held for sale at lower of cost or fair value		10,000	4,392,000	(412,000)
Loss on sale of other real estate owned			58,000
Gain on death benefit			(3,000,000)	(62,000)
Increase in cash surrender value of life insurance, net of split dollar liability		(775,000)	(767,000)	(818,000)
Decrease/(increase) in accrued interest receivable		328,000	(1,362,000)	(1,299,000)
Decrease/(increase) in other assets		5,111,000	(8,485,000)	(9,977,000)
Increase/(decrease) in accrued expenses and other liabilities		12,799,000	(929,000)	2,330,000
Net cash provided by operating activities		86,296,000	64,248,000	55,935,000
Investing activities:
Principal repayments, maturities and calls of securities available for sale		208,625,000	79,313,000	66,450,000
Redemptions for FHLB & FRB stock		34,427,000	87,602,000	40,561,000
Sales of securities available for sale			19,542,000
Purchase of securities available for sale		(209,971,000)	(156,893,000)	(91,561,000)
Purchase of equity securities		(6,000,000)
Purchase of FHLB & FRB stock		(39,962,000)	(92,758,000)	(40,126,000)
Proceeds from sale of loans held for sale at lower of cost or fair value		4,984,000	126,898,000	109,454,000
Net increase in loans, net of participations sold		(478,099,000)	(358,652,000)	(505,046,000)
Sales of other real estate owned		336,000	1,800,000	534,000
Purchases of premises and equipment		(1,705,000)	(1,059,000)	(2,380,000)
Purchase of wealth management company		(2,600,000)	(3,500,000)	(13,500,000)
Proceeds from death benefit		3,000,000		100,000
Net cash used in investing activities		(486,965,000)	(297,707,000)	(435,514,000)
Financing activities:
Net increase in deposits		348,171,000	196,986,000	286,517,000
Net increase in short-term borrowings		128,100,000
Proceeds from FHLB advances			105,000,000
Repayments of FHLB advances		(3,000,000)	(34,898,000)	(23,897,000)
Dividends paid on common stock		(3,865,000)	(3,712,000)	(3,548,000)
Exercise of stock options, net stock swaps		251,000	275,000	690,000
Restricted stock repurchased on vesting to pay taxes		(1,106,000)	(1,540,000)	(1,826,000)
Proceeds from issuance of subordinated debt				34,125,000
Sale of common shares (Dividend Reinvestment Program)			16,677,000	36,588,000
Issuance of shares for employee’s savings and investment plan			1,039,000	889,000
Issuance of shares for employee stock purchase plan		532,000	958,000	797,000
Purchase of treasury shares		(21,002,000)
Net cash provided by financing activities		448,081,000	280,785,000	330,335,000
Net increase/(decrease) in cash and cash equivalents		47,412,000	47,326,000	(49,244,000)
Cash and cash equivalents at beginning of year		160,773,000	113,447,000	162,691,000
Cash and cash equivalents at end of year		208,185,000	160,773,000	113,447,000
Cash paid during the year for:
Interest		60,293,000	42,768,000	26,506,000
Income taxes, net		3,595,000	3,605,000	11,597,000
Transfer of loans to loans held for sale		15,064,000	137,317,000
Transfer of loans to other real estate owned		386,000		2,090,000
Security purchase settled in subsequent period		7,959,000
Acquisitions (Note 21)
Goodwill		5,791,000	7,310,000	15,534,000
Customer relationship & other intangibles		3,441,000	$ 2,440,000	$ 5,466,000
Right-of-use asset obtained in exchange for lease obligation		$ 7,012,000
[1]	Includes mortgage loans originated with the intent to sell which are carried at fair value. In addition, this includes the guaranteed portion of SBA loans which are carried at the lower of cost or fair value.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1 . Principles of Consolidation and Organization: The consolidated financial statements of the Company are prepared on the accrual basis and include the accounts of the Company and its wholly-owned subsidiary, Peapack-Gladstone Bank (the “Bank”). The consolidated financial statements also include the Bank’s wholly-owned subsidiaries: • PGB Trust & Investments of Delaware • Peapack Capital Corporation (formed in the second quarter of 2017) • Murphy Capital Management (“MCM”) (acquired in the third quarter of 2017) • Quadrant Capital Management (“Quadrant”) (acquired in the fourth quarter of 2017 and merged with the Bank in the first quarter of 2020) • Lassus Wherley and Associates (“Lassus Wherley”) (acquired in the third quarter of 2018) • Point View Wealth Management, Inc. (“Point View”) (acquired in the third quarter of 2019) • Peapack-Gladstone Mortgage Group, Inc. owns 99 percent of Peapack Ventures, LLC and 79 percent of Peapack-Gladstone Realty, Inc., a New Jersey real estate investment company • PGB Trust & Investments of Delaware owns one percent of Peapack Ventures, LLC • Peapack Ventures, LLC owns the remaining 21 percent of Peapack-Gladstone Realty, Inc. While the following footnotes include the collective results of the Company and the Bank, these footnotes primarily reflect the Bank’s and its subsidiaries’ activities. All significant intercompany balances and transactions have been eliminated from the accompanying consolidated financial statements. Business: The Bank is a commercial bank that provides innovative private banking services to businesses, non-profits and consumers. Wealth management services are also provided through its subsidiaries, PGB Trust & Investments of Delaware, MCM, Quadrant, Lassus Wherley and Point View. The Bank is subject to competition from other financial institutions, is regulated by certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. Basis of Financial Statement Presentation : The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles. In preparing the financial statements, Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the statement of condition and revenues and expenses for that period. Actual results could differ from those estimates. Segment Information : The Company’s business is conducted through two business segments: its banking subsidiary, which involves the delivery of loan and deposit products to customers, and Peapack Private, which includes asset management services provided for individuals and institutions. Management uses certain methodologies to allocate income and expense to the business segments. The Banking segment includes commercial (includes C&I and equipment financing), commercial real estate, multifamily, residential and consumer lending activities; treasury management services; C&I advisory services; escrow management; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support sales. Peapack Private includes: investment management services for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; and other financial planning and advisory services. This segment also includes the activity from the Delaware subsidiary, PGB Trust and Investments of Delaware, MCM, QCM, Lassus Wherley and Point View. Wealth management fees are primarily earned over time as the Company provides the contracted monthly or quarterly services and are generally assessed based on a tiered scale of the market value of AUM at month-end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed (i.e. trade date). Cash and Cash Equivalents: For purposes of the statements of cash flows, cash and cash equivalents include cash and due from banks, interest-earning deposits and federal funds sold. Generally, federal funds are sold for one-day periods. Cash equivalents are of original maturities of 90 days or less. Net cash flows are reported for customer loan and deposit transactions and overnight borrowings. Interest-Earning Deposits in Other Financial Institutions : Interest-earning deposits in other financial institutions mature within one year and are carried at cost. Securities : All debt securities are classified as available for sale and are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. The Company also has an investment in a CRA investment fund, which is classified as an equity security. In accordance with ASU 2016-01, “Financial Instruments” (adopted January 1, 2018) unrealized holding gains and losses on equity securities are marked to market through the income statement. Interest income includes amortization of purchase premiums and discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated and premiums on callable debt securities which are amortized to the earliest call date. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. 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 is 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. Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock: The Bank is a member of the FHLB system. Members are required to own a certain amount of FHLB stock, based on the level of borrowings and other factors. FHLB stock is carried at cost, classified as a restricted security and periodically evaluated for impairment based on ultimate recovery of par value. Dividends are reported as income. The Bank is also a member of the Federal Reserve Bank of New York and required to own a certain amount of FRB stock. FRB stock is carried at cost and classified as a restricted security. Dividends are reported as income. Loans Held for Sale: Mortgage loans originated with the intent to sell in the secondary market are carried at fair value, as determined by outstanding commitments from investors. Mortgage loans held for sale are generally sold with servicing rights released; therefore, no servicing rights are recorded. Gains and losses on sales of mortgage loans, shown as gain on sale of loans on the Statement of Income, are based on the difference between the selling price and the carrying value of the related loan sold. SBA loans originated with the intent to sell in the secondary market are carried at the lower of cost or fair value. SBA loans are generally sold with the servicing rights retained. Gains and losses on the sale of SBA loans are based on the difference between the selling price and the carrying value of the related loan sold. Total SBA loans serviced totaled $51.9 million and $35.1 million as of December 31, 2019 and 2018, respectively. SBA loans held for sale totaled $4.6 million and $1.2 million as of December 31, 2019 and 2018, respectively. The servicing asset recorded was not material. Loans originated with the intent to hold and subsequently transferred to loans held for sale are carried at the lower of cost or fair value. These are loans that the Company no longer has the intent to hold for the foreseeable future. Loans: Loans that Management has the intent and ability to hold for the foreseeable future or until maturity are stated at the principal amount outstanding. Interest on loans is recognized based upon the principal amount outstanding. Loans are stated at face value, less purchased premium and discounts and net deferred fees. Loan origination fees and certain direct loan origination costs are deferred and recognized on a level-yield method, over the life of the loan as an adjustment to the loan’s yield. The definition of recorded investment in loans includes accrued interest receivable and deferred fees/cost, however, for the Company’s loan disclosures, accrued interest and deferred fees/costs was excluded as the impact was not material. Loans are considered past due when they are not paid within 30 days in accordance with contractual terms. The accrual of income on loans, including 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. 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 after the Bank receives contractual payments for a minimum of six consecutive months. Commercial loans are generally charged off, in whole or in part, after an analysis is completed which indicates that collectability of the full principal balance is in doubt. Consumer 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 New Jersey, New York and Pennsylvania. Allowance for Loan Losses: The allowance for loan and lease losses is a valuation allowance for credit losses that is Management’s estimate of probable incurred losses in the loan portfolio. The process to determine reserves utilizes analytical tools and Management judgment and is reviewed on a quarterly basis. When Management is reasonably certain that a loan balance is not fully collectable, an impairment analysis is completed whereby a specific reserve may be established or a full or partial charge off is recorded against the allowance. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the size and composition of the portfolio, information about specific borrower situations, estimated collateral values, economic conditions and other factors. Allocations of the allowance may be made for specific loans via a specific reserve, but the entire allowance is available for any loan that, in Management’s judgment, should be charged off. 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 Bank 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 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 type of loan modification in which the Bank, for legal, economic or business reasons related to a borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider. 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 and lease losses. The general component of the allowance covers non-impaired loans and is based primarily on the Company’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 staffing and experience; 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 both December 31, 2019 and 2018, respectively, the multiple was 2.25 times for non-impaired special mention loans and 3.5 times for non-impaired substandard 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 or purpose. 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 Leasing and Equipment Finance Asset risk in PCC’s portfolio is generally recognized through changes to loan income, or through changes to lease related income streams due to fluctuations in lease rates. Changes to lease income can occur when the existing lease contract expires, the asset comes off lease or the business seeks to enter a new lease agreement. Asset risk may also change depreciation, resulting from changes in the residual value of the operating lease asset or through impairment of the asset carrying value, which can occur at any time during the life of the asset. Credit risk in PCC’s portfolio generally results from the potential default of borrowers or lessees, which may be driven by customer specific or broader industry related conditions. Credit losses can impact multiple parts of the income statement including loss of interest/lease/rental income and/or via higher costs and expenses related to the repossession, refurbishment, re-marketing and or re-leasing of assets. Consumer and Other Leases : At inception, contracts are evaluated to determine whether the contract constitutes a lease agreement. For contracts that are determined to be an operating lease, a corresponding right-of-use (“ROU”) asset and operating lease liability are recorded in separate line items on the statement of condition. A ROU asset represents the Company’s right to use an underlying asset during the lease term and a lease liability represents the Company’s commitment to make contractually obligated lease payments. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease and are based on the present value of lease payments over the lease term. The measurement of the operating lease ROU asset includes any lease payments made. If the rate implicit in the lease is not readily determinable, the incremental collateralized borrowing rate is used to determine the present value of lease payments. This rate gives consideration to the applicable FHLB over-collateralized borrowing rates and is based on the information available at the commencement date. The Company has elected to apply the short-term lease measurement and recognition exemption to leases with an initial term of 12 months or less; therefore, these leases are not recorded on the Company’s statement of condition, but rather, lease expense is recognized over the lease term on a straight-line basis. The Company’s lease agreements may include options to extend or terminate the lease. The Company’s decision to exercise renewal options is based on an assessment of its current business needs and market factors at the time of the renewal. The Company maintains certain property and equipment under direct financing and operating leases. Substantially all of the leases in which the Company is the lessee are comprised of real estate property for branches and office space and are classified as operating leases. The Company has two existing finance leases (previously classified as a capital lease and included in premises and equipment on our statement of condition at December 31, 2018) for the Company’s administration building and one branch location. Topic 842 did not materially impact the accounting for these capital leases. The ROU asset is measured at the amount of the lease liability adjusted for lease incentives received, and cumulative prepaid or accrued rent if the lease payments are uneven throughout the lease term, any unamortized initial direct costs, and any impairment of the ROU asset. Operating lease expense consists of: a single lease cost allocated over the remaining lease term on a straight-line basis, variable lease payments not included in the lease liability, and any impairment of the right-of-use-asset. There are no terms or conditions related to residual value guarantees and no restrictions or covenants that would impact the Company’s ability to pay dividends or to incur additional financial obligations. Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost, less accumulated depreciation. Depreciation charges are computed using the straight-line method. Equipment and other fixed assets are depreciated over the estimated useful lives, which range from three to ten years. Premises are depreciated over the estimated useful life of 40 years, while leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the term of the lease. Expenditures for maintenance and repairs are expensed as incurred. The cost of major renewals and improvements are capitalized. Gains or losses realized on routine dispositions are recorded as other income or other expense. Other Real Estate Owned (OREO): OREO acquired through foreclosure on loans secured by real estate is initially recorded at fair value, less estimated costs to sell. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The assets are subsequently accounted for at the lower of cost or fair value, as established by a current appraisal, less estimated costs to sell. Any write-downs at the date of foreclosure are charged to the allowance for loan losses. Expenses incurred to maintain these properties, losses resulting from write-downs after the date of foreclosure, and realized gains and losses upon sale of the properties are included in other non-interest expense and other non-interest income, as appropriate. Bank Owned Life Insurance (BOLI): The Bank has purchased life insurance policies on certain key executives. BOLI is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Loan Commitments and Related Financial Instruments: Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. Derivatives: At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation. For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. For cash flow hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as non-interest income. When hedge accounting is discontinued on a fair value hedge that no longer qualifies as an effective hedge, the derivative continues to be reported at fair value in the statement of condition, but the carrying amount of the hedged item is no longer adjusted for future changes in fair value. The adjustment to the carrying amount of the hedged item that existed at the date hedge accounting is discontinued is amortized over the remaining life of the hedged item into earnings. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in non-interest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. Income Taxes: The Company files a consolidated Federal income tax return. Separate state income tax returns are filed for each subsidiary based on current laws and regulations. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in its financial statements or tax returns. The measurement of deferred tax assets and liabilities is based on the enacted tax rates. Such tax assets and liabilities are adjusted for the effect of a change in tax rates in the period of enactment. The Company recognizes a tax position as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50 percent likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company is no longer subject to examination by the U.S. Federal tax authorities for years prior to 2016 or by state and local tax authorities for years prior to 2015. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. Employee’s Savings and Investment Plan: The Company has a 401(k) profit-sharing and investment plan, which covers substantially all salaried employees over the age of 21 with at least 12 months of service. Stock-Based Compensation: Compensation cost is recognized for stock options and restricted stock awards/units issued to employees and non-employee directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the fair value of the Company’s common stock at the date of grant is used for restricted stock awards/units. Compensation expense is recognized over the required service or performance period, generally defined as the vesting period. For awards with graded vesting, compensation expense is recognized on a straight-line basis over the requisite service period. The stock options granted under these plans are exercisable at a price equal to the fair value of common stock on the date of grant and expire not more than ten years after the date of grant. Employee Stock Purchase Plan (“ESPP”): On April 22, 2014, the shareholders of the Company approved the 2014 ESPP. In July 2019, the Board appointed ESPP “Committee” revised the ESPP. The ESPP provides for the granting of purchase rights of up to 150,000 shares of Peapack-Gladstone Financial Corporation common stock. Subject to certain eligibility requirements and restrictions, the ESPP now provides for a single Offering Period of twelve months in duration, commencing on or about May 16 of each year. The last day of each Offering Period is May 15 of each year (or such other date as may be determined by the Board). Each participant in the Offering Period is granted an option to purchase a number of shares and may contribute between one percent and 15 percent of their compensation. At the end of each Offering Period on the purchase date, the number of shares to be purchased by the employee is determined by dividing the employee’s contributions accumulated during the Offering Period by the applicable purchase price. The purchase price is an amount equal to 85 percent of the closing market price of a share of common stock on the purchase date. Participation in the ESPP is entirely voluntary and employees can cancel their purchases at any time during the period without penalty. The fair value of each share purchase right is determined using the Black-Scholes option pricing model. The Company recorded $158,000, $189,000 and $116,000 of expense in salaries and employee benefits expense for the twelve months ended December 31, 2019, 2018 and 2017, respectively. Total shares issued under the ESPP were 18,740, 29,273 and 25,404 during 2019, 2018 and 2017, respectively. Earnings Per Share (“EPS”): In calculating earnings per share, there are no adjustments to net income available to common shareholders, which is the numerator of both the Basic and Diluted EPS. The weighted average number of shares outstanding used in the denominator for Diluted EPS is increased over the denominator used for Basic EPS by the effect of potentially dilutive common stock equivalents utilizing the treasury stock method. Common stock options outstanding are common stock equivalents, as are restricted stock units until vested. Earnings and dividends per share are restated for all stock splits and stock dividends through the date of issuance of the financial statements. The following table shows the calculation of both basic and diluted earnings per share for the years ended December 31, 2019, 2018 and 2017: (In thousands, except share and per share data) 2019 2018 2017 Net income available to common shareholders $ 47,434 $ 44,170 $ 36,497 Basic weighted average shares outstanding 19,268,870 18,965,305 17,659,625 Plus: common stock equivalents 142,578 183,340 284,060 Diluted weighted average shares outstanding 19,411,448 19,148,645 17,943,685 Earnings per share: Basic $ 2.46 $ 2.33 $ 2.07 Diluted 2.44 2.31 2.03 Restricted stock units totaling 277,677 and 257,422 were not included in the computation of diluted earnings per share because they were anti-dilutive as of December 31, 2019 and 2018, respectively. For the year ended December 31, 2017, there were no stock options or restricted stock units excluded in the computation of diluted earnings per share, as they were all dilutive. Anti-dilutive shares are common stock equivalents with weighted average exercise prices in excess of the average market value for the periods presented. Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are any such matters that will have a material effect on the financial statements. Restrictions on Cash: Cash on hand or on deposit with the Federal Reserve Bank of New York was required to meet regulatory reserve and clearing requirements. Comprehensive Income: Comprehensive income consists of net income and the change during the period in the Company’s net unrealized gains or losses on securities available for sale and unrealized gains and losses on cash flow hedge, net of tax, less adjustments for realized gains and losses. Equity: Stock dividends in excess of 20 percent are reported by transferring the par value of the stock issued from retained earnings to common stock. Stock dividends for 20 percent or less are reported by transferring the fair value, as of the ex-dividend date, of the stock issued fro

INVESTMENT SECURITIES AVAILABLE

INVESTMENT SECURITIES AVAILABLE FOR SALE	12 Months Ended
	Dec. 31, 2019
Investment Securities Available For Sale [Abstract]
INVESTMENT SECURITIES AVAILABLE FOR SALE	2. INVESTMENT SECURITIES AVAILABLE FOR SALE A summary of amortized cost and approximate fair value of investment securities available for sale included in the consolidated statements of condition as of December 31, 2019 and 2018 follows: 2019 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored agencies $ 34,961 $ 37 $ (214 ) $ 34,784 Mortgage-backed securities-residential 337,489 2,365 (950 ) 338,904 SBA pool securities 2,799 — (15 ) 2,784 State and political subdivisions 11,175 41 (1 ) 11,215 Corporate bond 3,000 68 — 3,068 Total $ 389,424 $ 2,511 $ (1,180 ) $ 390,755 2018 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored agencies $ 102,915 $ 82 $ (984 ) $ 102,013 Mortgage-backed securities-residential 254,383 418 (3,439 ) 251,362 SBA pool securities 3,883 — (44 ) 3,839 State and political subdivisions 17,729 27 (146 ) 17,610 Corporate bond 3,000 112 — 3,112 Total $ 381,910 $ 639 $ (4,613 ) $ 377,936 The amortized cost and fair value of investment securities available for sale as of December 31, 2019, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity, such as mortgage-backed securities, marketable equity securities are shown separately. (In thousands) Maturing in: Amortized Cost Fair Value One year or less $ 1,564 $ 1,571 After one year through five years 17,318 17,299 After five years through ten years 30,254 30,197 After ten years — — 49,136 49,067 Mortgage-backed securities-residential 337,489 338,904 SBA pool securities 2,799 2,784 Total $ 389,424 $ 390,755 Securities available for sale with a fair value of $374.6 million and $337.1 million as of December 31, 2019 and December 31, 2018, respectively, were pledged, but not necessarily encumbered, to secure public funds and for other purposes required or permitted by law. The following is a summary of the gross gains, gross losses and net tax benefit related to proceeds on sales of securities available for sale for the years ended December 31: (In thousands) 2019 2018 2017 Proceeds on sales $ — $ 19,542 $ — Gross gains — 45 — Gross losses — (333 ) — Net tax benefit — (68 ) — The following table presents the Company’s available for sale securities with continuous unrealized losses and the approximate fair value of these investments as of December 31, 2019 and 2018. 2019 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 $ 19,758 $ (214 ) $ - $ - $ 19,758 $ (214 ) Mortgage-backed securities-residential 78,982 (382 ) 69,142 (568 ) 148,124 (950 ) SBA pool securities — — 2,784 (15 ) 2,784 (15 ) State and political subdivisions 783 (1 ) - - 783 (1 ) Total $ 99,523 $ (597 ) $ 71,926 $ (583 ) $ 171,449 $ (1,180 ) 2018 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 $ 18,840 $ (103 ) $ 33,600 $ (881 ) $ 52,440 $ (984 ) Mortgage-backed securities-residential 51,697 (303 ) 136,130 (3,136 ) 187,827 (3,439 ) SBA pool securities — — 3,839 (44 ) 3,839 (44 ) State and political subdivisions 421 (1 ) 7,274 (145 ) 7,695 (146 ) Total $ 70,958 $ (407 ) $ 180,843 $ (4,206 ) $ 251,801 $ (4,613 ) Management believes that the unrealized losses on investment securities available for sale are temporary and due to interest rate fluctuations and/or volatile market conditions rather than the credit worthiness of the issuers. The Company does not intend to sell these securities nor is it likely that it will be required to sell the securities before their anticipated recovery; therefore, none of the securities in an unrealized loss position were determined to be other-than-temporarily impaired. No other-than-temporary impairment charges were recognized in 2019, 2018 or 2017. During the first quarter of 2018, the Company adopted ASU 2016-01 “Financial Instruments” which resulted in the reclassification of the Company’s investment in the CRA investment fund from available for sale to equity securities, which resulted in a gain of $117,000 and a loss of $105,000 for the years ended December 31, 2019 and 2018, respectively. This amount is included in securities (losses)/gains, net on the Consolidated Statements of Income.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
LOANS	3. LOANS The following table presents loans outstanding, by type of loan, as of December 31: % of Total % of Total (Dollars in thousands) 2019 Loans 2018 Loans Residential mortgage $ 549,138 12.50 % $ 571,570 14.55 % Multifamily mortgage 1,210,003 27.54 1,135,805 28.92 Commercial mortgage 761,244 17.32 702,165 17.88 Commercial loans (including equipment financing) 1,756,477 39.97 1,397,057 35.57 Commercial construction 5,306 0.12 — — Home equity lines of credit 57,248 1.30 62,191 1.58 Consumer loans, including fixed rate home equity loans 54,372 1.24 58,678 1.49 Other loans 349 0.01 465 0.01 Total loans $ 4,394,137 100.00 % $ 3,927,931 100.00 % In determining an appropriate amount for the allowance for loan losses (“ALLL”), the Bank segments and evaluates the loan portfolio based on Federal call report codes. The following portfolio classes have been identified as of December 31: % of Total % of Total (Dollars in thousands) 2019 Loans 2018 Loans Primary residential mortgage $ 578,306 13.17 % $ 600,891 15.31 % Home equity lines of credit 57,248 1.30 62,191 1.58 Junior lien loan on residence 7,011 0.16 7,418 0.19 Multifamily property 1,210,003 27.56 1,135,805 28.94 Owner-occupied commercial real estate 249,419 5.68 261,193 6.65 Investment commercial real estate 1,095,182 24.95 1,001,918 25.53 Commercial and industrial 867,295 19.76 616,838 15.72 Lease financing 258,401 5.89 172,643 4.40 Farmland/Agricultural production 3,043 0.13 149 0.01 Commercial construction 5,520 0.07 86 0.01 Consumer and other 58,213 1.33 65,180 1.66 Total loans $ 4,389,641 100.00 % $ 3,924,312 100.00 % Net deferred costs 4,496 3,619 Total loans including net deferred costs $ 4,394,137 $ 3,927,931 The Company sold one C&I loan which totaled $5.0 million during 2019. Loss on sale of loans sold in 2019 totaled $10,000. The Company sold approximately $131.3 million in multifamily whole loans during 2018. Loss on sale of whole loans sold in 2018 totaled approximately $4.4 million. The Company sold approximately $109.9 million in residential and multifamily whole loans during 2017. Gain on sale of whole loans sold in 2017 totaled approximately $412,000. The Company, through the Bank, may extend credit to officers, directors and their associates. These loans are subject to the Company’s normal lending policy and Federal Reserve Bank Regulation O. The following table shows the changes in loans to officers, directors and their associates: (In thousands) 2019 2018 Balance, beginning of year $ 4,574 $ 4,688 New loans 1,345 2,174 Repayments (1,551 ) (2,288 ) Loans with individuals no longer considered related parties (204 ) — Balance, at end of year $ 4,164 $ 4,574 The following tables present the loan balances by portfolio segment, based on impairment method, and the corresponding balances in the ALLL as of December 31, 2019 and 2018: December 31, 2019 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 6,890 $ 215 $ 571,416 $ 1,875 $ 578,306 $ 2,090 Home equity lines of credit 3 — 57,245 128 57,248 128 Junior lien loan on residence 19 — 6,992 13 7,011 13 Multifamily property — — 1,210,003 6,037 1,210,003 6,037 Owner-occupied commercial real estate 379 — 249,040 2,064 249,419 2,064 Investment commercial real estate 22,605 1,000 1,072,577 14,988 1,095,182 15,988 Commercial and industrial 6,028 1,585 861,267 12,768 867,295 14,353 Lease financing — — 258,401 2,642 258,401 2,642 Secured by farmland and agricultural production — — 3,043 38 3,043 38 Commercial construction — — 5,520 27 5,520 27 Consumer and other — — 58,213 296 58,213 296 Total ALLL $ 35,924 $ 2,800 $ 4,353,717 $ 40,876 $ 4,389,641 $ 43,676 December 31, 2018 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 9,518 $ 262 $ 591,373 $ 3,244 $ 600,891 $ 3,506 Home equity lines of credit 255 — 61,936 164 62,191 164 Junior lien loan on residence 36 — 7,382 15 7,418 15 Multifamily property 1,262 — 1,134,543 5,959 1,135,805 5,959 Owner-occupied commercial real estate 1,574 — 259,619 2,614 261,193 2,614 Investment commercial real estate 18,655 — 983,263 14,248 1,001,918 14,248 Commercial and industrial — — 616,838 9,839 616,838 9,839 Lease financing — — 172,643 1,772 172,643 1,772 Secured by farmland and agricultural production — — 149 2 149 2 Commercial construction — — 86 1 86 1 Consumer and other — — 65,180 384 65,180 384 Total ALLL $ 31,300 $ 262 $ 3,893,012 $ 38,242 $ 3,924,312 $ 38,504 Impaired loans included nonaccrual loans of $28.9 million at December 31, 2019 and $25.7 million at December 31, 2018. The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2019 and 2018: December 31, 2019 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 7,310 $ 6,071 $ — $ 7,186 Owner-occupied commercial real estate 450 379 — 1,099 Investment commercial real estate 9,663 8,138 — 14,115 Home equity lines of credit 5 3 — 77 Junior lien loan on residence 92 19 — 29 Total loans with no related allowance $ 17,520 $ 14,610 $ — $ 22,506 With related allowance recorded: Primary residential mortgage $ 819 $ 819 $ 215 $ 1,011 Investment commercial real estate 15,064 14,467 1,000 4,832 Commercial and industrial 6,229 6,028 1,585 3,685 Total loans with related allowance $ 22,112 $ 21,314 $ 2,800 $ 9,528 Total loans individually evaluated for impairment $ 39,632 $ 35,924 $ 2,800 $ 32,034 December 31, 2018 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 9,789 $ 8,502 $ — $ 8,042 Owner-occupied commercial real estate 2,741 1,574 — 2,025 Investment commercial real estate 20,179 18,655 — 13,999 Home equity lines of credit 257 255 — 123 Junior lien loan on residence 102 36 — 45 Multifamily property 1,262 1,262 — 105 Total loans with no related allowance $ 34,330 $ 30,284 $ — $ 24,339 With related allowance recorded: Primary residential mortgage $ 1,016 $ 1,016 $ 262 $ 1,144 Total loans with related allowance $ 1,016 $ 1,016 $ 262 $ 1,144 Total loans individually evaluated for impairment $ 35,346 $ 31,300 $ 262 $ 25,483 Interest income recognized on impaired loans during 2019, 2018 and 2017 was not material. The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2019 and 2018: December 31, 2019 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 4,533 $ — Home equity lines of credit 3 — Junior lien loan on residence 19 — Owner-occupied commercial real estate 379 — Investment commercial real estate 17,919 — Commercial and industrial 6,028 — Total $ 28,881 $ — December 31, 2018 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 5,215 $ — Home equity lines of credit 235 — Junior lien loan on residence 36 — Owner-occupied commercial real estate 1,574 — Investment commercial real estate 18,655 — Total $ 25,715 $ — The following tables present the recorded investment in past due loans as of December 31, 2019 and 2018 by class of loans, excluding nonaccrual loans: December 31, 2019 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 1,264 $ — $ — $ 1,264 Home equity lines of credit 80 — — 80 Commercial and industrial 566 — — 566 Total $ 1,910 $ — $ — $ 1,910 December 31, 2018 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 606 $ 491 $ — $ 1,097 Consumer and other 2 — — 2 Total $ 608 $ 491 $ — $ 1,099 Credit Quality Indicators: The Bank places all commercial loans into various credit risk rating categories based on an assessment of the expected ability of the borrowers to properly service their debt. The assessment considers numerous factors including, but not limited to, current financial information on the borrower, historical payment experience, strength of any guarantor, nature of and value of any collateral, acceptability of the loan structure and documentation, relevant public information and current economic trends. This credit risk rating analysis is performed when the loan is initially underwritten and then annually based on set criteria in the loan policy. In addition, the Bank has engaged an independent loan review firm to validate risk ratings and to ensure compliance with our policies and procedures. This review of the following types of loans is performed quarterly: • A majority of 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 random sample of borrowers with relationships less than $1,000,000; • All leveraged loans of $1,000,000 or greater; • At least two borrowing relationships managed by each commercial banker; • Any new Regulation “O” loan commitments over $1,000,000; • No borrower with commitments of less than $250,000; • 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 Bank uses the following regulatory definitions for criticized and classified risk ratings: Special Mention: These loans have a potential weakness that deserves Management’s close attention. If left uncorrected, the potential weaknesses may result in deterioration of the repayment prospects for the loans or of the institution’s credit position at some future date. Substandard: These loans are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: These loans have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, based on currently existing facts, conditions and values. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-rated loans. 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. The table below presents, based on the most recent analysis performed, the risk category of loans by class of loans for December 31, 2019 and 2018. December 31, 2019 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 570,353 $ 853 $ 7,100 $ — Home equity lines of credit 57,245 — 3 — Junior lien loan on residence 6,992 — 19 — Multifamily property 1,209,288 — 715 — Owner-occupied commercial real estate 247,388 — 2,031 — Investment commercial real estate 1,053,445 6,325 35,412 — Commercial and industrial 847,285 6,382 13,628 — Lease financing 258,401 — — — Secured by farmland and agricultural 3,043 — — — Commercial construction 5,437 83 — — Consumer and other loans 58,213 — — — Total $ 4,317,090 $ 13,643 $ 58,908 $ — December 31, 2018 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 590,372 $ 943 $ 9,576 $ — Home equity lines of credit 61,936 — 255 — Junior lien loan on residence 7,382 — 36 — Multifamily property 1,130,926 3,263 1,616 — Owner-occupied commercial real estate 255,417 249 5,527 — Investment commercial real estate 948,300 20,756 32,862 — Commercial and industrial 608,262 417 8,159 — Lease financing 172,643 — — — Secured by farmland and agricultural 149 — — — Commercial construction — 86 — — Consumer and other loans 64,946 — 234 — Total $ 3,840,333 $ 25,714 $ 58,265 $ — At December 31, 2019, $35.9 million of substandard loans were also considered impaired as compared to $31.2 million at December 31, 2018. The tables below present a roll forward of the ALLL for the years ended December 31, 2019, 2018 and 2017. January 1, December 31, 2019 2019 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 3,506 $ (80 ) $ 205 $ (1,541 ) $ 2,090 Home equity lines of credit 164 — 10 (46 ) 128 Junior lien loan on residence 15 — 11 (13 ) 13 Multifamily property 5,959 — — 78 6,037 Owner-occupied commercial real estate 2,614 — 1,060 (1,610 ) 2,064 Investment commercial real estate 14,248 — — 1,740 15,988 Commercial and industrial 9,839 — 17 4,497 14,353 Lease financing 1,772 — — 870 2,642 Secured by farmland and agricultural 2 — — 36 38 Commercial construction 1 — — 26 27 Consumer and other 384 (55 ) 4 (37 ) 296 Total ALLL $ 38,504 $ (135 ) $ 1,307 $ 4,000 $ 43,676 January 1, December 31, 2018 2018 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 4,085 $ (138 ) $ 160 $ (601 ) $ 3,506 Home equity lines of credit 221 — 10 (67 ) 164 Junior lien loan on residence 12 — 68 (65 ) 15 Multifamily property 10,007 — — (4,048 ) 5,959 Owner-occupied commercial real estate 2,385 (361 ) 66 524 2,614 Investment commercial real estate 11,933 (1,335 ) 45 3,605 14,248 Commercial and industrial 6,563 (46 ) 109 3,213 9,839 Lease financing 884 — — 888 1,772 Secured by farmland and agricultural — — — 2 2 Commercial construction 1 — — — 1 Consumer and other 349 (68 ) 4 99 384 Total ALLL $ 36,440 $ (1,948 ) $ 462 $ 3,550 $ 38,504 January 1, December 31, 2017 2017 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 3,666 $ (889 ) $ 173 $ 1,135 $ 4,085 Home equity lines of credit 233 (23 ) 62 (51 ) 221 Junior lien loan on residence 16 (99 ) 26 69 12 Multifamily property 11,192 — — (1,185 ) 10,007 Owner-occupied commercial real estate 1,774 (734 ) — 1,345 2,385 Investment commercial real estate 10,909 (123 ) 23 1,124 11,933 Commercial and industrial 4,164 (76 ) 115 2,360 6,563 Lease financing — — — 884 884 Secured by farmland and agricultural 2 — — (2 ) — Commercial construction 9 — — (8 ) 1 Consumer and other 243 (77 ) 4 179 349 Total ALLL $ 32,208 $ (2,021 ) $ 403 $ 5,850 $ 36,440 Troubled Debt Restructurings: The Company has allocated $2.8 million and $262,000 of specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of December 31, 2019 and December 31, 2018, respectively. There were no unfunded commitments to lend additional amounts to customers with outstanding loans that are classified as troubled debt restructurings. During the years ended December 31, 2019, 2018 and 2017, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; or an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk. The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2019: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 2 $ 530 $ 530 Commercial and industrial 5 6,028 6,028 Total 7 $ 6,558 $ 6,558 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2018: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 2 $ 909 $ 909 Investment commercial real estate 1 15,202 15,202 Total 3 $ 16,111 $ 16,111 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2017: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 6 $ 1,223 $ 1,223 Total 6 $ 1,223 $ 1,223 The identification of the troubled debt restructured loans did not have a significant impact on the allowance for loan losses. In addition, there were no charge-offs as a result of the classification of these loans as troubled debt restructuring during the years ended December 31, 2019, 2018 and 2017. The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2019 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 1 $ 201 Total 1 $ 201 There were no payment defaults on loans modified as troubled debt restructurings within twelve months of modification during the year ended December 31, 2018. The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2017 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 1 $ 336 Total 1 $ 336 The defaults described above did not have a material impact on the allowance for loan losses during 2019 and 2017. 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 an underwriting analysis, which includes, at a minimum, obtaining current financial statements and tax returns, copies of all leases, and an updated independent appraisal of the property. A loan will continue to accrue interest if it can be reasonably determined that the borrower should be able to perform under the modified terms, that the loan has not been chronically delinquent (both to debt service and real estate taxes) or in nonaccrual status since its inception, and that there have been no charge-offs on the loan. Restructured loans with previous charge-offs would not accrue interest at the time of the troubled debt restructuring. At a minimum, six consecutive months of contractual payments would need to be made on a restructured loan before returning it to accrual status. Once a loan is classified as a TDR, the loan is reported as a TDR until the loan is paid in full, sold or charged-off. In rare circumstances, a loan may be removed from TDR status, if it meets the requirements of ASC 310-40-50-2.

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
PREMISES AND EQUIPMENT	4. PREMISES AND EQUIPMENT The following table presents premises and equipment as of December 31, (In thousands) 2019 2018 Land and land improvements $ 6,332 $ 6,243 Buildings 12,741 12,653 Furniture and equipment 21,594 20,644 Leasehold improvements 12,228 11,943 Projects in progress 475 145 Capital lease asset — 11,237 53,370 62,865 Less: accumulated depreciation 32,457 35,457 Total $ 20,913 $ 27,408 The Company has classified capital leases as a finance lease right-of-use asset under the new lease guidance for 2019. Capital leases were including in premises and equipment for 2018. The following table presents capital leases as of December 31, (In thousands) 2019 2018 Land and buildings $ 11,237 $ 11,237 Less: accumulated depreciation 6,159 5,411 Total $ 5,078 $ 5,826 Projects in progress represents costs associated with renovations to the Company’s headquarters in addition to smaller renovation or equipment installation projects at other locations. The Company recorded depreciation expense of $3.1 million, $3.1 million and $3.3 million for the years ended December 31, 2019, 2018 and 2017, respectively. The Company leases its corporate headquarters building under a capital lease, classified as a finance lease right-of-use asset under the new lease guidance for 2019. The lease arrangement requires monthly payments through 2025. Related depreciation expense of $607,000 is included in each of the 2019, 2018 and 2017 results. The Company also leases its Gladstone branch after completing a sale-leaseback transaction involving the property in 2011. The lease arrangement requires monthly payments through 2031. The deferred gain was removed as a cumulative-effect adjustment upon adoption of the new accounting guidance in topic 842 effective January 1, 2019. The following is a schedule by year of future minimum lease payments under finance lease right-of-use asset, together with the present value of net minimum lease payments as of December 31, 2019: (In thousands) 2020 $ 1,195 2021 1,233 2022 1,391 2023 1,456 2024 1,456 Thereafter 2,283 Total minimum lease payments 9,014 Less: amount representing interest 1,416 Present value of net minimum lease payments $ 7,598

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	12 Months Ended
	Dec. 31, 2019
Other Real Estate [Abstract]
OTHER REAL ESTATE OWNED	5. OTHER REAL ESTATE OWNED At December 31, 2019, the Company had other real estate owned, net of valuation allowances, totaling $50,000. At December 31, 2018, the Company did not have other real estate owned. The following table shows the activity in other real estate owned, excluding the valuation allowance, for the years ended December 31: (In thousands) 2019 2018 Balance, beginning of year $ — $ 2,090 OREO properties added 386 — Sales during year (336 ) (2,090 ) Balance, end of year $ 50 $ — The following table shows the activity in the valuation allowance for the years ended December 31: (In thousands) 2019 2018 2017 Balance, beginning of year $ — $ — $ — Additions charged to expense — 232 — Direct writedowns — (232 ) — Balance, end of year $ — $ — $ — The following table shows expenses related to other real estate owned for the years ended December 31: (In thousands) 2019 2018 2017 Net loss/(gain) on sales $ — $ 58 $ — Provision for unrealized losses — 232 — Operating expenses, net of rental income 9 190 117 Total $ 9 $ 480 $ 117

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2019
Deposits [Abstract]
DEPOSITS	6. DEPOSITS Time deposits over $250,000 totaled $223.7 million and $160.3 million at December 31, 2019 and 2018, respectively. The following table sets forth the details of total deposits as of December 31: (Dollars in thousands) 2019 2018 Noninterest-bearing demand deposits $ 529,281 12.47 % $ 463,926 11.91 % Interest-bearing checking 1,510,363 35.59 1,247,305 32.02 Savings 112,652 2.66 114,674 2.94 Money market 1,196,313 28.19 1,243,369 31.92 Certificates of deposit - retail 633,763 14.94 510,724 13.12 Certificates of deposit - listing service 47,430 1.12 79,195 2.03 Interest-bearing demand - Brokered 180,000 4.24 180,000 4.62 Certificates of deposit - Brokered 33,709 0.79 56,147 1.44 Total deposits $ 4,243,511 100.00 % $ 3,895,340 100.00 % The scheduled maturities of time deposits as of December 31, 2019 are as follows: (In thousands) 2020 $ 480,064 2021 120,344 2022 50,792 2023 8,422 2024 28,349 Over 5 Years 26,931 Total $ 714,902

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	7. FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS Advances from FHLB totaled $105.0 million at December 31, 2019, with a weighted average interest rate of 3.20 percent. Advances from FHLB totaled $108.0 million at December 31, 2018, with a weighted average interest rate of 3.17 percent. At December 31, 2019, advances totaling $105.0 million, with a weighted average rate of 3.20 percent, have fixed maturity dates. At December 31, 2018, advances totaling $108.0 million, with a weighted average rate of 3.17 percent, have fixed maturity dates. At December 31, 2019, the fixed rate advances were secured by blanket pledges of certain 1-4 family residential mortgages totaling $347.5 million, multifamily mortgages totaling $773.1 million and securities totaling $154.3 million, while at December 31, 2018, the fixed rate advances were secured by blanket pledges of certain 1-4 family residential mortgages totaling $496.1 million, multifamily mortgages totaling $1.0 billion and securities totaling $58.5 million. The scheduled principal repayments and maturities of advances as of December 31, 2019 are as follows: (In thousands) 2020 $ — 2021 60,000 2022 20,000 2023 25,000 2024 — Over 5 years — Total $ 105,000 Short-term borrowings consisted of overnight borrowings with the FHLB of $113.1 million with a rate of 1.81 percent and a one-month FHLB advance of $15.0 million with a rate of 1.79 percent. The one-month FHLB advance is part of an interest rate swap designated as a cash flow hedge. The cash flow hedge has a term of four years. There were no short-term or overnight borrowings with the FHLB as of December 31, 2018. At December 31, 2019, unused short-term or overnight borrowing commitments totaled $1.3 billion from the FHLB, $22.0 million from correspondent banks and $1.5 billion at the Federal Reserve Bank of New York.

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE	8. FAIR VALUE Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing as asset or liability. The Company used the following methods and significant assumptions to estimate the fair value: Investment Securities: Loans Held for Sale, at Fair Value: Derivatives Impaired Loans: Other Real Estate Owned: Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by Management. Once received, a member of the Credit Department reviews the assumptions and approaches utilized in the appraisal, as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Appraisals on collateral dependent impaired loans and other real estate owned (consistent for all loan types) are obtained on an annual basis, unless a significant change in the market or other factors warrants a more frequent appraisal. On an annual basis, Management compares the actual selling price of any collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value for other properties. The most recent analysis performed indicated that a discount up to 15 percent should be applied to appraisals on properties. The discount is determined based on the nature of the underlying properties, aging of appraisal and other factors. For each collateral-dependent impaired loan we consider other factors, such as certain indices or other market information, as well as property specific circumstances to determine if an adjustment to the appraised value is needed. In situations where there is evidence of change in value, the Bank will determine if there is need for an adjustment to the specific reserve on the collateral dependent impaired loans. When the Bank applies an interim adjustment, it generally shows the adjustment as an incremental specific reserve against the loan until it has received the full updated appraisal. All collateral-dependent impaired loans and other real estate owned valuations were supported by an appraisal less than 12 months old or in the process of obtaining an appraisal as of December 31, 2019. The following table summarizes, for the periods indicated, assets measured at fair value on a recurring basis, including financial assets for which the Company has elected the fair value option: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2019 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: U.S. government-sponsored agencies $ 34,784 $ — $ 34,784 $ — Mortgage-backed securities-residential 338,904 — 338,904 — SBA pool securities 2,784 — 2,784 — State and political subdivisions 11,215 — 11,215 — Corporate bond 3,068 — 3,068 — CRA investment fund 10,836 10,836 — — Loans held for sale, at fair value 2,881 — 2,881 — Derivatives: Cash flow hedges 121 — 121 — Loan level swaps 32,381 — 32,381 — Total $ 436,974 $ 10,836 $ 426,138 $ — Liabilities: Derivatives: Cash flow hedges $ 3,788 $ — $ 3,788 $ — Loan level swaps 32,381 — 32,381 — Total $ 36,169 $ — $ 36,169 $ — (In thousands) December 31, 2018 Assets: Securities available for sale: U.S. government-sponsored agencies $ 102,013 $ — $ 102,013 $ — Mortgage-backed securities-residential 251,362 — 251,362 — SBA pool securities 3,839 — 3,839 — State and political subdivisions 17,610 — 17,610 — Corporate bond 3,112 — 3,112 — CRA investment fund 4,719 4,719 — — Loans held for sale, at fair value 1,576 — 1,576 — Derivatives: Cash flow hedges 1,657 — 1,657 — Loan level swaps 9,689 — 9,689 — Total $ 395,577 $ 4,719 $ 390,858 $ — Liabilities: Derivatives: Cash flow hedges $ 849 $ — $ 849 $ — Loan level swaps 9,689 — 9,689 — Total $ 10,538 $ — $ 10,538 $ — The Company has elected the fair value option for loans held for sale. These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of these loans are 90 days or more past due or on nonaccrual as of December 31, 2019 and December 31, 2018. The following tables present residential loans held for sale, at fair value, at the dates indicated: December 31, 2019 December 31, 2018 Residential loans contractual balance $ 2,839 $ 1,552 Fair value adjustment 42 24 Total fair value of residential loans held for sale $ 2,881 $ 1,576 There were no transfers between Level 1 and Level 2 during the year ended December 31, 2019. The following table summarizes, for the period indicated, assets measured at fair value on a non-recurring basis: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2019 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Investment commercial real estate $ 13,467 $ — $ — $ 13,467 There were no loans measured for impairment using the fair value of collateral as of December 31, 2018. The carrying amounts and estimated fair values of financial instruments at December 31, 2019 are as follows: Fair Value Measurements at December 31, 2019 Using (In thousands) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 208,185 $ 208,185 $ — $ — $ 208,185 Securities available for sale 390,755 — 390,755 — 390,755 CRA investment fund 10,836 10,836 — — 10,836 FHLB and FRB stock 24,068 — — — N/A Loans held for sale, at fair value 2,881 — 2,881 — 2,881 Loans held for sale, at lower of cost or fair value 14,667 — 15,126 — 15,126 Loans, net of allowance for loan losses 4,350,461 — — 4,268,481 4,268,481 Accrued interest receivable 10,494 — 1,361 9,133 10,494 Cash flow hedges 121 — 121 — 121 Loan level swaps 32,381 — 32,381 — 32,381 Financial liabilities Deposits $ 4,243,511 $ 3,528,609 $ 718,818 $ — $ 4,247,427 Short-term borrowings 128,100 - 128,100 - 128,100 Federal Home Loan Bank advances 105,000 — 108,354 — 108,354 Subordinated debt 83,417 — — 86,536 86,536 Accrued interest payable 2,357 392 1,910 55 2,357 Cash flow hedges 3,788 — 3,788 — 3,788 Loan level swaps 32,381 — 32,381 — 32,381 The carrying amounts and estimated fair values of financial instruments at December 31, 2018 are as follows: Fair Value Measurements at December 31, 2018 Using (In thousands) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 160,773 $ 160,773 $ — $ — $ 160,773 Securities available for sale 377,936 — 377,936 — 377,936 CRA investment fund 4,719 4,719 — — 4,719 FHLB and FRB stock 18,533 — — — N/A Loans held for sale, at fair value 1,576 — 1,576 — 1,576 Loans held for sale, at lower of cost or fair value 3,542 — 3,654 — 3,654 Loans, net of allowance for loan losses 3,889,427 — — 3,852,004 3,852,004 Accrued interest receivable 10,814 — 1,875 8,939 10,814 Cash flow hedges 1,657 — 1,657 — 1,657 Loan level swaps 9,689 — 9,689 — 9,689 Financial liabilities Deposits $ 3,895,340 $ 3,249,274 $ 640,997 $ — $ 3,890,271 Federal Home Loan Bank advances 108,000 — 108,950 — 108,950 Subordinated debt 83,193 — — 82,207 82,207 Accrued interest payable 2,868 331 2,482 55 2,868 Cash flow hedges 849 — 849 — 849 Loan level swaps 9,689 — 9,689 — 9,689 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:

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	9. REVENUE FROM CONTRACTS WITH CUSTOMERS: All of the Company’s revenue from contracts with customers in the scope of ASC 606 is recognized within noninterest income. The following table presents the sources of noninterest income for the years ended December 31: (In thousands) 2019 2018 2017 Service charges on deposits Overdraft fees $ 662 $ 726 $ 715 Interchange income 1,238 1,251 1,164 Other 1,588 1,525 1,360 Wealth management fees 37,508 32,356 22,273 Investment brokerage fees 855 889 910 (Losses)/gains on sales of OREO — (58 ) — Other (a) 12,845 7,504 8,205 Total noninterest other income $ 54,696 $ 44,193 $ 34,627 (a) All of the other category is outside the scope of ASC 606. The following table presents the sources of noninterest income by operating segment for the years ended December 31: 2019 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 662 $ — $ 662 Interchange income 1,238 — 1,238 Other 1,588 — 1,588 Wealth management fees — 37,508 37,508 Investment brokerage fees — 855 855 Losses on sales of OREO — — — Other (a) 11,511 1,334 12,845 Total noninterest income $ 14,999 $ 39,697 $ 54,696 2018 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 726 $ — $ 726 Interchange income 1,251 — 1,251 Other 1,525 — 1,525 Wealth management fees — 32,356 32,356 Investment brokerage fees — 889 889 Gains/(losses) on sales of OREO (58 ) — (58 ) Other (a) 6,569 935 7,504 Total noninterest income $ 10,013 $ 34,180 $ 44,193 2017 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 715 $ — $ 715 Interchange income 1,164 — 1,164 Other 1,360 — 1,360 Wealth management fees — 22,273 22,273 Investment brokerage fees — 910 910 Gains/(losses) on sales of OREO — — — Other (a) 7,704 501 8,205 Total noninterest income $ 10,943 $ 23,684 $ 34,627 (a) All of the other category is outside the scope of ASC 606. A description of the Company’s revenue streams accounted for under ASC 606 follows: Service charges on deposit accounts Interchange income Wealth management fees (gross) Investment brokerage fees (net) th Gains/(losses) on sales of OREO Other

OTHER OPERATING EXPENSES

OTHER OPERATING EXPENSES	12 Months Ended
	Dec. 31, 2019
Other Income And Expenses [Abstract]
OTHER OPERATING EXPENSES	10. OTHER OPERATING EXPENSES The following table presents the major components of other operating expenses for the years ended December 31: (In thousands) 2019 2018 2017 Professional and legal fees $ 4,506 $ 4,668 $ 4,486 Telephone 1,361 1,077 998 Advertising 1,363 1,340 1,108 Provision for ORE losses — 232 — Amortization of intangible assets 1,043 1,187 321 Other operating expenses 11,434 10,840 10,388 Total other operating expenses $ 19,707 $ 19,344 $ 17,301

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	11. INCOME TAXES The income tax expense included in the consolidated financial statements for the years ended December 31 is allocated as follows: (In thousands) 2019 2018 2017 Federal: Current (benefit)/expense $ 5,647 $ (7,046 ) $ 1,559 Deferred expense 6,087 16,908 13,922 State: Current expense 3,028 3,554 2,133 Deferred expense 3,926 134 196 Total income tax expense $ 18,688 $ 13,550 $ 17,810 Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 21 percent for both 2019 and 2018, respectively, and 35 percent for 2017, to income before taxes as a result of the following: (In thousands) 2019 2018 2017 Computed “expected” tax expense $ 13,886 $ 12,121 $ 19,008 (Decrease)/increase in taxes resulting from: Tax-exempt income (431 ) (402 ) (584 ) State income taxes, net of Federal benefit 2,540 2,942 1,514 Impact of state tax reform, net of Federal benefit 2,954 — — Bank owned life insurance income (277 ) (290 ) (475 ) Life insurance expense 234 148 479 Gain on death benefit — (630 ) — Interest disallowance 146 115 124 Meals and entertainment expense 40 25 76 Stock-based compensation (46 ) (481 ) (982 ) Impact of Federal tax reform — — (1,648 ) Other (358 ) 2 298 Total income tax expense $ 18,688 $ 13,550 $ 17,810 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31 are as follows: (In thousands) 2019 2018 Deferred tax assets: Allowance for loan losses $ 11,369 $ 10,537 Tax net operating loss carryforward 6,163 7,046 Organization costs 13 13 Cash flow hedge 925 — Unrealized loss on securities available for sale — 969 Unrealized loss on equity security 43 79 Stock plan 2,874 1,534 Nonaccrual interest 74 31 Accrued compensation 2,956 189 Accrued expenses 1,402 — Lease liabilities 3,234 — Capital leases (2018)/Finance lease (2019) 768 1,051 Other 188 — Total gross deferred tax assets $ 30,009 $ 21,449 Deferred tax liabilities: Lease financing $ 44,841 $ 33,191 Cash flow hedge — 265 Unrealized gain on securities available for sale 330 — Deferred loan origination costs and fees 1,355 1,214 Deferred income 5,329 2,693 Amortization of intangible assets 239 — Purchase accounting 908 — Lease right-of-use asset 3,158 Other — 115 Total gross deferred tax liabilities 56,160 37,478 Net deferred tax liability $ (26,151 ) $ (16,029 ) Based upon taxes paid and projected future taxable income, Management believes that it is more likely than not that the Company that gross deferred tax assets will be realized. However, there can be no assurance that such assets will be realized if circumstances change. At December 31, 2019 and 2018, the Company had no unrecognized tax benefits. The Company does not expect the amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. The Company has Federal tax net operating losses arising in 2019 related to accelerated depreciation on lease financing activity of approximately $45 million and may be carried forward indefinitely. These losses cannot be carried back. On July 1, 2018, the 2019 New Jersey Budget was passed, which established a 2.5 percent surtax on businesses that have New Jersey allocated net income in excess of $1.0 million. The surtax was effective as of January 1, 2018 and continued through 2019. The surtax will adjust to 1.5 percent for 2020 and 2021. In addition, effective for taxable years beginning on or after January 1, 2019, banks will be required to file combined reports of taxable income including their parent holding company. New Jersey requires entities to report their real estate investment trust, registered investment company and investment company on a separate entity basis. The Bank made an adjustment to income tax expense and deferred tax assets/liabilities to reflect the new state tax rate. The Company’s effective tax rate was 28.3 percent for 2019 as compared to 23.5 percent for 2018. The Company’s effective tax rate for 2018 was positively affected by the adoption of ASU 2016-09 which resulted in a $538,000 reduction in income taxes. The Company is subject to U.S. Federal income tax as well as income tax of various state jurisdictions. The Company is no longer subject to federal examination for tax years prior to 2016. The tax years of 2016, 2017 and 2018 remain open to federal examination. The Company is no longer subject to state and local examinations by tax authorities for tax years prior to 2015. The tax years of 2015, 2016, 2017 and 2018 remain open for state examination.

BENEFIT PLANS

BENEFIT PLANS	12 Months Ended
	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
BENEFIT PLANS	12. BENEFIT PLANS The Company sponsors a profit sharing plan and a savings plan under Section 401(k) of the Internal Revenue Code, covering substantially all salaried employees over the age of 21 with at least 12 months of service. Under the savings plan, the Company contributed two percent of compensation for each employee regardless of the employees’ contributions for the year ended December 31, 2019 and three percent of compensation for the years ended December 31, 2018 and 2017, as well as partially matching employee contributions. Expense for the savings plan totaled approximately $1.7 million, $2.2 million, and $1.6 million for the years ended December 31, 2019, 2018 and 2017, respectively. Contributions to the profit sharing plan are made at the discretion of the Board of Directors and all funds are invested solely in Company common stock. The Company did not contribute to the profit sharing plan in 2019, 2018 or 2017.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
STOCK-BASED COMPENSATION	13. STOCK-BASED COMPENSATION The Company’s 2006 Long-Term Stock Incentive Plan and 2012 Long-Term Stock Incentive Plan allow the granting of shares of the Company’s common stock as incentive stock options, nonqualified stock options, restricted stock awards, restricted stock units and stock appreciation rights to directors, officers and employees of the Company and its subsidiaries. As of December 31, 2019, the total number of shares available for grant in all active plans was 1,500,256. There are no shares remaining for issuance with respect to the stock option plan approved in 2002; however, options granted under this plan are still included in the numbers below. Options granted under the stock incentive plans are, in general, exercisable not earlier than one year after the date of grant, at a price equal to the fair value of the common stock on the date of grant and expire not more than ten years after the date of grant. Stock options may vest during a period of up to five years after the date of grant. Some options granted to officers at or above the senior vice president level were immediately exercisable at the date of grant. The Company has a policy of using authorized but unissued shares to satisfy option exercises. 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. Changes in options outstanding during 2019 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In Thousands) Balance, January 1, 2019 91,310 $ 13.63 Exercised during 2019 (18,660 ) 13.50 Expired during 2019 (930 ) 20.73 Forfeited during 2019 (300 ) 12.98 Balance, December 31, 2019 71,420 $ 13.57 2.10 years $ 1,238 Vested and expected to vest 71,420 $ 13.57 2.10 years $ 1,238 Exercisable at December 31, 2019 71,420 $ 13.57 2.10 years $ 1,238 The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the last trading day of 2019 and the exercise price, multiplied by the number of in-the-money options). The Company’s closing stock price on December 31, 2019 was $30.90. There were no stock options granted in 2019. As of December 31, 2019, there was no unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Company’s stock incentive plans. The Company issued service-based and performance-based restricted stock awards/units in 2019, 2018 and 2017. Service-based awards/units vest ratably over a three or five-year period.There were 223,396 service-based restricted stock units granted during 2019. The performance-based awards are dependent upon the Company meeting certain performance criteria and, to the extent the performance criteria are met, will cliff vest at the end of the performance which is generally three years. There were 47,770 performance-based restricted units granted during 2019. As of December 31, 2019, there was $13,000 of total unrecognized compensation cost related to service-based awards. That cost is expected to be recognized over a weighted average period of 0.09 years. As of December 31, 2019, there was $9.7 million of total unrecognized compensation cost related to service-based units. That cost is expected to be recognized over a weighted average period of 1.13 years. Total stock-based compensation expense recognized for stock awards/units totaled $5.9 million, $4.6 million and $3.5 million in 2019, 2018 and 2017, respectively, while total stock-based compensation expense recognized for stock options was $6,000 for 2017. There was no stock-based compensation expense related to stock options for the years ended December 31, 2019 and 2018, respectively. Changes in non-vested shares dependent on performance criteria for 2019 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2019 42,998 $ 35.33 Granted during 2019 47,770 26.34 Balance, December 31, 2019 90,768 30.60 Changes in service based restricted stock awards/units for 2019 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2019 366,541 $ 30.64 Granted during 2019 223,396 26.51 Vested during 2019 (153,063 ) 27.39 Forfeited during 2019 (4,146 ) 31.53 Balance, December 31, 2019 432,728 $ 29.65

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	14. COMMITMENTS AND CONTINGENCIES The Company, in the ordinary course of business, is a party to litigation arising from the conduct of its business. Management does not consider that these actions depart from routine legal proceedings and believes that such actions will not affect its financial position or results of its operations in any material manner. There are various outstanding commitments and contingencies, such as guarantees and credit extensions, including mostly variable-rate loan commitments of $673.8 million and $684.2 million at December 31, 2019 and 2018, respectively, which are not included in the accompanying consolidated financial statements. These commitments include unused commercial and home equity lines of credit. The Company issues financial standby letters of credit that are irrevocable undertakings by the Company to guarantee payment of a specified financial obligation. Most of the Company’s financial standby letters of credit arise in connection with lending relations and have terms of one year or less. The maximum potential future payments the Company could be required to make equal the contract amount of the standby letters of credit and amounted to $20.3 million and $12.7 million at December 31, 2019 and 2018, respectively. The fair value of the Company’s liability for financial standby letters of credit was insignificant at December 31, 2019. For commitments to originate loans, the Company’s maximum exposure to credit risk is represented by the contractual amount of those instruments. Those commitments represent ultimate exposure to credit risk only to the extent that they are subsequently drawn upon by customers. The Company uses the same credit policies and underwriting standards in making loan commitments as it does for on-balance-sheet instruments. For loan commitments, the Company would generally be exposed to interest rate risk from the time a commitment is issued with a defined contractual interest rate. The Company is also obligated under legally binding and enforceable agreements to purchase goods and services from third parties, including data processing service agreements. The Company is a limited partner in a Small Business Investment Company (“SBIC”). As of December 31, 2019, the Company had unfunded commitments of $1.8 million for its investment in SBIC qualified funds.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
LEASES	15. LEASES Leases (Topic 842) Targeted Improvements Leases The Company maintains certain property and equipment under direct financing and operating leases. Upon adoption of the new lease guidance, on January 1, 2019, the Company recorded a ROU asset and corresponding lease liability of $7.9 million and $8.2 million, respectively, on the consolidated statement of condition. As of December 31, 2019, the Company's operating lease ROU asset and operating lease liability totaled $12.1 million and $12.4 million, respectively. A weighted average discount rate of 3.05% was used in the measurement of the ROU asset and lease liability as of December 31, 2019. The Company's leases have remaining lease terms between five months to 17 years, with a weighted average lease term of 6.33 years, at December 31, 2019. The Company’s lease agreements may include options to extend or terminate the lease. The Company’s decision to exercise renewal options is based on an assessment of its current business needs and market factors at the time of the renewal. Total operating lease costs were $2.8 million for the year ended December 31, 2019. The variable lease costs were $329,000 for the year ended December 31, 2019. The following is a schedule of the Company's operating lease liabilities by contractual maturity as of December 31, 2019: (In thousands) 2020 $ 2,859 2021 2,408 2022 1,886 2023 1,597 2024 1,192 Thereafter 2,638 Total lease payments 12,580 Less: imputed interest 157 Total present value of lease payments $ 12,423 The following table shows the supplemental cash flow information related to the Company’s direct finance and operating leases for the year ended December 31, 2019: (In thousands) Right-of-use asset obtained in exchange for lease obligation $ 7,012 Operating cash flows from operating leases 2,623 Operating cash flows from direct finance leases 382 Financing cash flows from direct finance leases 748

REGULATORY CAPITAL

REGULATORY CAPITAL	12 Months Ended
	Dec. 31, 2019
Regulatory Capital [Abstract]
REGULATORY CAPITAL	16. REGULATORY CAPITAL Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet minimum capital requirements can initiate certain mandatory – and possibly additional discretionary – actions by regulators that, if undertaken, could have a direct material effect on the Company’s and the Bank’s financial statements and results of operations. The final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (Basel III rules) became effective for the Company on January 1, 2015 with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in on January 1, 2019. The Company has chosen to exclude net unrealized gain or loss on available for sale securities in computing regulatory capital. Management believes that as of December 31, 2019, the Company and Bank meet all capital adequacy requirements to which they were subject at that date. Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. At December 31, 2019 and 2018, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution’s category. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier I risk-based, common equity Tier 1 and Tier I leverage ratios as set forth in the table. The Bank’s regulatory capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total capital (to risk-weighted assets) $ 571,509 13.76 % $ 415,487 10.00 % $ 332,389 8.00 % $ 436,261 10.50 % Tier I capital (to risk-weighted assets) 527,833 12.70 332,389 8.00 249,292 6.00 353,164 8.50 Common equity tier I (to risk-weighted assets) 527,832 12.70 270,066 6.50 186,969 4.50 290,841 7.00 Tier I capital (to average assets) 527,833 10.63 248,252 5.00 198,602 4.00 198,602 4.00 As of December 31, 2018: Total capital (to risk-weighted assets) $ 543,008 14.59 % $ 372,186 10.00 % $ 297,749 8.00 % $ 367,533 9.88 % Tier I capital (to risk-weighted assets) 504,504 13.56 297,749 8.00 223,311 6.00 293,096 7.88 Common equity tier I (to risk-weighted assets) 504,502 13.56 241,921 6.50 167,484 4.50 237,268 6.38 Tier I capital (to average assets) 504,504 11.32 222,912 5.00 178,330 4.00 178,330 4.00 The Company’s regulatory capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total capital (to risk-weighted assets) $ 590,614 14.20 % N/A N/A $ 332,783 8.00 % $ 436,778 10.50 % Tier I capital (to risk-weighted assets) 463,521 11.14 N/A N/A 249,587 6.00 353,582 8.50 Common equity tier I (to risk-weighted assets) 463,520 11.14 N/A N/A 187,190 4.50 291,185 7.00 Tier I capital (to average assets) 463,521 9.33 N/A N/A 198,792 4.00 198,792 4.00 As of December 31, 2018: Total capital (to risk-weighted assets) $ 559,937 15.03 % N/A N/A $ 298,047 8.00 % $ 367,902 9.88 % Tier I capital (to risk-weighted assets) 438,240 11.76 N/A N/A 223,535 6.00 293,390 7.88 Common equity tier I (to risk-weighted assets) 438,238 11.76 N/A N/A 167,652 4.50 237,506 6.38 Tier I capital (to average assets) 438,240 9.82 N/A N/A 178,473 4.00 178,473 4.00 (A) As fully phased in on January 1, 2019, the Basel Rules require the Company and the Bank to maintain a 2.5% “capital conservation buffer” on top of the minimum risk-weighted asset ratios. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of (i) Common Equity Tier 1 to risk-weighted assets, (ii) Tier 1 capital to risk-weighted assets or (iii) total capital to risk-weighted assets above the respective minimum but below the capital conservation buffer will face constraints on dividends, equity repurchases and discretionary bonus payments to executive officers based on the amount of the shortfall. The implementation of the capital conservation buffer began on January 1, 2016 at the 0.625% level and increased by 0.625% on each subsequent January 1, until it reached 2.5% on January 1, 2019.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
DERIVATIVES	17. DERIVATIVES The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements. Interest Rate Swap Designated as Cash Flow Hedge: Information about the interest rate swaps designated as cash flow hedges as of December 31, 2019 and 2018 is presented in the following table: (Dollars in thousands) 2019 2018 Notional amount $ 245,000 $ 230,000 Weighted average pay rate 2.05 % 2.04 % Weighted average receive rate 1.83 % 2.33 % Weighted average maturity 2.45 years 2.65 years Unrealized (loss)/gain, net $ (3,667 ) $ 808 Number of contracts 12 11 Net interest income recorded on these swap transactions totaled approximately $953,000 and $390,000 for the twelve months ended December 31, 2019 and 2018, respectively, and is reported as a component of interest expense. Cash Flow Hedges The following table presents the net gains/(losses) recorded in accumulated other comprehensive income and the consolidated financial statements relating to the cash flow derivative instruments for the year ended December 31: 2019 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 $ (4,252 ) $ (223 ) $ — 2018 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 $ (328 ) $ (124 ) $ — During the second quarter of 2019, the Company recognized an unrealized after-tax gain of $189,000 in accumulated other comprehensive income/(loss) related to the termination of four interest rate swaps designated as cash flow hedges. During the first quarter of 2018, the Company recognized an unrealized after-tax gain of $220,000 in accumulated other comprehensive income/(loss) related to the termination of two interest rate swaps designated as cash flow hedges. The following tables reflect the cash flow hedges included in the financial statements as of December 31, 2019 and 2018: December 31, 2019 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing deposits $ 245,000 $ (3,667 ) Total included in other assets 70,000 121 Total included in other liabilities 175,000 (3,788 ) December 31, 2018 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing deposits $ 230,000 $ 808 Total included in other assets 130,000 1,657 Total included in other liabilities 100,000 (849 ) Derivatives Not Designated as Accounting Hedges: Information about these swaps is as follows: (Dollars in thousands) December 31, 2019 December 31, 2018 Notional amount $ 793,875 $ 558,690 Fair value $ 32,381 $ 9,689 Weighted average pay rates 4.12 % 4.44 % Weighted average receive rates 3.54 % 4.24 % Weighted average maturity 7.3 years 7.1 years Number of contracts 91 67

SHAREHOLDERS EQUITY

SHAREHOLDERS EQUITY	12 Months Ended
	Dec. 31, 2019
Stockholders Equity Note [Abstract]
SHAREHOLDERS EQUITY	18. SHAREHOLDERS’ EQUITY The Company authorized a 5 percent (960,000 shares) stock repurchase program on July 25, 2019. During the year ended December 31, 2019, the Company purchased 739,778 shares at an average price of $28.39 for a total cost of $21.0 million. The Dividend Reinvestment Plan of the Company (the “Plan”) allows shareholders of the Company to purchase additional shares of common stock using cash dividends without payment of any brokerage commissions or other charges. Shareholders may also make voluntary cash payments of up to $200,000 per quarter to purchase additional shares of common stock. The Plan provides that shares may be purchased directly from the Company out of its authorized but unissued or treasury shares, or in the open market.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
BUSINESS SEGMENTS	19. BUSINESS SEGMENTS The Company assesses its results among two operating segments, Banking and Peapack Private. Management uses certain methodologies to allocate income and expense to the business segments. A funds transfer pricing methodology is used to assign interest income and interest expense. Certain indirect expenses are allocated to segments. These include support unit expenses such as technology and operations and other support functions. Taxes are allocated to each segment based on the effective rate for the period shown. Banking The Banking segment includes commercial (includes C&I and equipment finance), commercial real estate, multifamily, residential and consumer lending activities; treasury management services; C&I advisory services; escrow management; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support and sales. Peapack Private Peapack Private includes PGB Trust & Investments of Delaware, MCM, Quadrant, Lassus Wherley and Point View, includes investment management services provided for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian, and other financial planning, tax preparation and advisory services. The following table presents the statements of income and total assets for the Company’s reportable segments for the years ended December 31, 2019, 2018 and 2017: Year Ended December 31, 2019 Wealth (In thousands) Banking Management Total Net interest income $ 114,983 $ 5,291 $ 120,274 Noninterest income 14,999 39,697 54,696 Total income 129,982 44,988 174,970 Provision for loan losses 4,000 — 4,000 Compensation and benefits 48,925 21,204 70,129 Premises and equipment expense 12,533 2,202 14,735 FDIC expense 277 — 277 Other noninterest expense 10,932 8,775 19,707 Total noninterest expense 76,667 32,181 108,848 Income before income tax expense 53,315 12,807 66,122 Income tax expense 15,069 3,619 18,688 Net income $ 38,246 $ 9,188 $ 47,434 Total assets at period end $ 5,095,744 $ 87,135 $ 5,182,879 Year Ended December 31, 2018 Wealth (In thousands) Banking Management Total Net interest income $ 110,001 $ 5,162 $ 115,163 Noninterest income 10,013 34,180 44,193 Total income 120,014 39,342 159,356 Provision for loan losses 3,550 — 3,550 Compensation and benefits 44,875 17,927 62,802 Premises and equipment expense 11,747 1,750 13,497 FDIC expense 2,443 — 2,443 Other noninterest expense 11,313 8,031 19,344 Total noninterest expense 73,928 27,708 101,636 Income before income tax expense 46,086 11,634 57,720 Income tax expense 10,819 2,731 13,550 Net income $ 35,267 $ 8,903 $ 44,170 Total assets at period end $ 4,547,179 $ 70,679 $ 4,617,858 Year Ended December 31, 2017 Wealth (In thousands) Banking Management Total Net interest income $ 105,353 $ 5,788 $ 111,141 Noninterest income 10,943 23,684 34,627 Total income 116,296 29,472 145,768 Provision for loan losses 5,850 — 5,850 Compensation and benefits 42,917 11,039 53,956 Premises and equipment expense 10,682 1,306 11,988 FDIC expense 2,366 — 2,366 Other noninterest expense 9,683 7,618 17,301 Total noninterest expense 71,498 19,963 91,461 Income before income tax expense 44,798 9,509 54,307 Income tax expense 14,691 3,119 17,810 Net income $ 30,107 $ 6,390 $ 36,497 Total assets at period end $ 4,202,957 $ 57,590 $ 4,260,547

SUBORDINATED DEBT

SUBORDINATED DEBT	12 Months Ended
	Dec. 31, 2019
Subordinated Longterm Debt Current And Noncurrent [Abstract]
SUBORDINATED DEBT	20. SUBORDINATED DEBT In June 2016, the Company issued $50.0 million in aggregate principal amount of fixed-to-floating subordinated notes (the “2016 Notes”) to certain institutional investors. The 2016 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. Approximately $40.0 million of the net proceeds from the sale of the 2016 Notes were contributed by the Company to the Bank in the second quarter of 2016. The remaining funds (approximately $10 million) were retained by the Company for operational purposes. In December 2017, the Company issued $35.0 million in aggregate principal amount of fixed-to-floating subordinated notes (the “2017 Notes”) to certain institutional investors. The 2017 Notes are non-callable for five years, have a stated maturity of December 15, 2027, and bear interest at a fixed rate of 4.75% per year until December 15, 2022. From December 16, 2022 to the maturity date or early redemption date, the interest rate will reset quarterly to a level equal to the then current three-month LIBOR rate plus 254 basis points, payable quarterly in arrears. Debt issuance costs incurred totaled $875,000 and are being amortized to maturity. Approximately $29.1 million of the net proceeds from the sale of the 2017 Notes were contributed by the Company to the Bank in the fourth quarter of 2017. The remaining funds of approximately $5 million, representing three years of interest payments, were retained by the Company for operational purposes. Subordinated debt is presented net of issuance cost on the Consolidated Statements of Condition. The subordinated debt issuances are included in the Company’s regulatory total capital amount and ratio. In connection with the issuance of the 2017 Notes, the Company obtained ratings from Kroll Bond Rating Agency (“KBRA”). KBRA assigned investment grade rating of BBB- for the Company’s subordinated debt.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
ACQUISITIONS	21. ACQUISITIONS The Company completed one acquisition in 2019, one acquisition in 2018, and two acquisitions in 2017, supporting the overall wealth management strategy. The acquisitions were not considered significant to the Company’s financial statements and therefore pro forma financial data and related disclosures are not included. On August 1, 2017, the Company acquired MCM. The purchase price was comprised of cash and common stock. The excess of the purchase price over the estimated fair value of the identifiable net assets was recorded as goodwill, none of which is tax deductible. On November 1, 2017, the Company acquired Quadrant. The purchase price was comprised of cash and common stock. The excess of the purchase price over the estimated fair value of the identifiable net assets was recorded as goodwill and is deductible for tax purposes. On September 1, 2018, the Company acquired Lassus Wherley. The purchase price was comprised of cash and common stock. The excess of the purchase price over the estimated fair value of the identifiable net assets was recorded as goodwill and is deductible for tax purposes. On September 1, 2019, the Company acquired Point View. The purchase price was comprised of cash and common stock. The excess of the purchase price over the estimated fair value of the identifiable net assets was recorded as goodwill, none of which is deductible for tax purposes. The fair value of the equity included as part of the consideration for the Company’s acquisitions was determined based on the closing price of the Company’s common shares on the acquisition date and totaled $5.0 million, $4.3 million and $3.6 million in the aggregate for 2019, 2018 and 2017, respectively. The 2019 acquisition resulted in goodwill of $5.8 million as well as identifiable intangible assets. The 2018 acquisition resulted in goodwill of $7.3 million as well as identifiable intangible assets . Goodwill on the Company’s consolidated statement of financial condition totaled $30.2 million, and $24.4 million as of December 31, 2019 and 2018, respectively. Of the $30.2 million of goodwill, $563,000 relates to the Banking segment and $29.6 million relates to the Wealth Management segment. During 2019, the Company conducted its annual impairment analysis and concluded that there is no impairment of goodwill. The table below presents a rollforward of goodwill and intangible assets for the years ended December 31, 2019, 2018 and 2017: Identifiable (In thousands) Goodwill Intangible Assets Balance as of January 1, 2017 $ 1,573 $ 1,535 Acquisitions during the period 15,534 5,466 Amortization during the period — 321 Balance as of December 31, 2017 $ 17,107 $ 6,680 Acquisitions during the period $ 7,310 $ 2,440 Amortization during the period — 1,187 Balance as of December 31, 2018 $ 24,417 $ 7,933 Acquisitions during the period $ 5,791 $ 3,490 Amortization and impairment during the period — 1,043 Balance as of December 31, 2019 $ 30,208 $ 10,380 Amortization expense related to identifiable intangible assets was $1.0 million, $1.2 million, and $321,000 for 2019, 2018, and 2017, respectively. The 2018 expense includes impairment expense of $405,000 resulting from the passing of the founder and managing principal of MCM. Estimated amortization expense for each of the next five years is shown in the table below. (In thousands) 2020 $ 1,287 2021 1,283 2022 1,127 2023 878 2024 646

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	12 Months Ended
	Dec. 31, 2019
Stockholders Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME/ (LOSS)	22. ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the years ended December 31, 2019, 2018 and 2017: Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Twelve Months Balance at Income/(Loss) Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2018 Reclassifications Income/(Loss) 2019 2019 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ (3,006 ) $ 4,012 $ — $ 4,012 $ 1,006 Gains/(losses) on cash flow hedge 661 (3,006 ) (156 ) (3,162 ) (2,501 ) Accumulated other comprehensive loss, net of tax $ (2,345 ) $ 1,006 $ (156 ) $ 850 $ (1,495 ) Cumulative Amount Other Effect Reclassified Comprehensive Adjustment Other From Income/(Loss) for Comprehensive Accumulated Twelve Months Balance at Adoption Income/(Loss) Other Ended Balance at December 31, of ASU Before Comprehensive December 31, December 31, (In thousands) 2017 2018-01 Reclassifications Income/(Loss) 2018 2018 Net unrealized holding loss on securities available for sale, net of tax $ (2,214 ) $ 127 $ (1,137 ) $ 218 $ (919 ) $ (3,006 ) (Losses)/gains on cash flow hedge 1,002 $ — $ (247 ) $ (94 ) $ (341 ) $ 661 Accumulated other comprehensive loss, net of tax $ (1,212 ) $ 127 $ (1,384 ) $ 124 $ (1,260 ) $ (2,345 ) Cumulative Amount Other Effect Reclassified Comprehensive Adjustment Other From Income/(Loss) for Comprehensive Accumulated Twelve Months Balance at Adoption Income/(Loss) Other Ended Balance at December 31, of ASU Before Comprehensive December 31, December 31, (In thousands) 2016 2018-02 Reclassifications Income/(Loss) 2017 2017 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ (1,091 ) $ (392 ) $ (731 ) $ — $ (731 ) $ (2,214 ) (Losses)/gains on cash flow hedge $ (440 ) $ 177 $ 1,265 $ — $ 1,265 $ 1,002 Accumulated other comprehensive loss, net of tax $ (1,531 ) $ (215 ) $ 534 $ — $ 534 $ (1,212 ) The following represents the reclassifications out of accumulated other comprehensive income for the years ended December 31, 2019, 2018 and 2017: Years Ended December 31, (In thousands) 2019 2018 2017 Affected Line Item in Statements of Income Unrealized losses on securities available for sale: Reclassification adjustment for amounts included in net income $ — $ 288 $ — Securities losses, net Income tax benefit — (70 ) — Income tax expense Total reclassifications, net of tax $ — $ 218 $ — Unrealized gains on cash flow hedge derivatives: Reclassification adjustment for amounts included in net income $ (223 ) $ (124 ) $ — Interest expense Income tax expense 67 30 — Tax effect Total reclassifications, net of tax $ (156 ) $ (94 ) $ —

CONDENSED FINANCIAL STATEMENTS

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY)	12 Months Ended
	Dec. 31, 2019
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY)	23. CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) STATEMENTS OF CONDITION December 31, (In thousands) 2019 2018 Assets Cash $ 13,931 $ 12,971 Interest-earning deposits 523 517 Total cash and cash equivalents 14,454 13,488 Investment in subsidiary 567,964 535,277 Other assets 4,920 3,734 Total assets $ 587,338 $ 552,499 Liabilities Subordinated debt $ 83,417 $ 83,193 Other liabilities 269 293 Total liabilities 83,686 83,486 Shareholders’ equity Common stock 16,733 16,459 Surplus 319,375 309,088 Treasury stock (29,990 ) (8,988 ) Retained earnings 199,029 154,799 Accumulated other comprehensive loss (1,495 ) (2,345 ) Total shareholders’ equity 503,652 469,013 Total liabilities and shareholders’ equity $ 587,338 $ 552,499 STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Years Ended December 31, (In thousands) 2019 2018 2017 Income Dividend from Bank $ 31,000 $ — $ — Other income 6 4 2 Total income 31,006 4 2 Expenses Interest expense 4,895 4,887 3,206 Other expenses 721 480 554 Total expenses 5,616 5,367 3,760 Income/(loss) before income tax benefit and equity in undistributed earnings of Bank 25,390 (5,363 ) (3,758 ) Income tax benefit (1,178 ) (1,123 ) (1,313 ) Net income/(loss) before equity in undistributed earnings of Bank 26,568 (4,240 ) (2,445 ) Equity in undistributed earnings of Bank/(dividends in excess of earnings) 20,866 48,410 38,942 Net income $ 47,434 $ 44,170 $ 36,497 Other comprehensive income/(loss) 850 (1,260 ) 534 Comprehensive income $ 48,284 $ 42,910 $ 37,031 STATEMENTS OF CASH FLOWS Years Ended December 31, (In thousands) 2019 2018 2017 Cash flows from operating activities: Net income $ 47,434 $ 44,170 $ 36,497 Undistributed earnings of Bank (20,866 ) (48,410 ) (38,942 ) Amortization of subordinated debt costs 224 171 135 Increase in other assets (1,186 ) (1,183 ) (1,248 ) (Decrease)/increase in other liabilities (24 ) (256 ) 113 Net cash provided by/(used in) operating activities 25,582 (5,508 ) (3,445 ) Cash flows from investing activities: Capital contribution to subsidiary — (9,322 ) (60,177 ) Net cash used in investing activities — (9,322 ) (60,177 ) Cash flows from financing activities: Cash dividends paid on common stock (3,865 ) (3,712 ) (3,548 ) Exercise of stock options, net of stock swaps 251 275 690 Proceeds from issuance of subordinated debt — — 34,125 Issuance of common shares (DRIP program) — 16,677 36,588 Shares repurchase (21,002 ) — — Net cash (used in)/provided by financing activities (24,616 ) 13,240 67,855 Net increase/(decrease) in cash and cash equivalents 966 (1,590 ) 4,233 Cash and cash equivalents at beginning of period 13,488 15,078 10,845 Cash and cash equivalents at end of period $ 14,454 $ 13,488 $ 15,078

SUPPLEMENTAL DATA (unaudited)

SUPPLEMENTAL DATA (unaudited)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
SUPPLEMENTAL DATA (unaudited)	24. SUPPLEMENTAL DATA (unaudited) The following table sets forth certain unaudited quarterly financial data for the periods indicated: Selected 2019 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 44,563 $ 44,603 $ 45,948 $ 45,556 Interest expense 14,556 15,335 15,863 14,642 Net interest income 30,007 29,268 30,085 30,914 Provision for loan losses 100 1,150 800 1,950 Wealth management fee income 9,174 9,568 9,501 10,120 Securities (losses)/gains, net 59 69 34 (45 ) Other income 2,496 3,389 4,881 5,450 Operating expenses 25,715 26,173 26,259 26,701 Income before income tax expense 15,921 14,971 17,442 17,788 Income tax expense 4,496 3,421 5,216 5,555 Net income $ 11,425 $ 11,550 $ 12,226 $ 12,233 Earnings per share-basic $ 0.59 $ 0.59 $ 0.63 $ 0.64 Earnings per share-diluted 0.58 0.59 0.63 0.64 Selected 2018 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 37,068 $ 39,674 $ 40,163 $ 42,781 Interest expense 8,675 10,431 12,021 13,396 Net interest income 28,393 29,243 28,142 29,385 Provision for loan losses 1,250 300 500 1,500 Wealth management fee income 8,367 8,126 8,200 8,552 Securities gains/(losses), net (78 ) (36 ) (325 ) 46 Other income 1,926 3,650 3,108 2,657 Operating expenses 23,337 24,941 24,284 25,524 Income before income tax expense 14,021 15,742 14,341 13,616 Income tax expense 3,214 3,832 3,617 2,887 Net income $ 10,807 $ 11,910 $ 10,724 $ 10,729 Earnings per share-basic $ 0.58 $ 0.63 $ 0.56 $ 0.56 Earnings per share-diluted 0.57 0.62 0.56 0.55

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Principles of Consolidation and Organization	Principles of Consolidation and Organization: The consolidated financial statements of the Company are prepared on the accrual basis and include the accounts of the Company and its wholly-owned subsidiary, Peapack-Gladstone Bank (the “Bank”). The consolidated financial statements also include the Bank’s wholly-owned subsidiaries: • PGB Trust & Investments of Delaware • Peapack Capital Corporation (formed in the second quarter of 2017) • Murphy Capital Management (“MCM”) (acquired in the third quarter of 2017) • Quadrant Capital Management (“Quadrant”) (acquired in the fourth quarter of 2017 and merged with the Bank in the first quarter of 2020) • Lassus Wherley and Associates (“Lassus Wherley”) (acquired in the third quarter of 2018) • Point View Wealth Management, Inc. (“Point View”) (acquired in the third quarter of 2019) • Peapack-Gladstone Mortgage Group, Inc. owns 99 percent of Peapack Ventures, LLC and 79 percent of Peapack-Gladstone Realty, Inc., a New Jersey real estate investment company • PGB Trust & Investments of Delaware owns one percent of Peapack Ventures, LLC • Peapack Ventures, LLC owns the remaining 21 percent of Peapack-Gladstone Realty, Inc. While the following footnotes include the collective results of the Company and the Bank, these footnotes primarily reflect the Bank’s and its subsidiaries’ activities. All significant intercompany balances and transactions have been eliminated from the accompanying consolidated financial statements. Business: The Bank is a commercial bank that provides innovative private banking services to businesses, non-profits and consumers. Wealth management services are also provided through its subsidiaries, PGB Trust & Investments of Delaware, MCM, Quadrant, Lassus Wherley and Point View. The Bank is subject to competition from other financial institutions, is regulated by certain federal and state agencies and undergoes periodic examinations by those regulatory authorities.
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation : The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles. In preparing the financial statements, Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the statement of condition and revenues and expenses for that period. Actual results could differ from those estimates.
Segment Information	Segment Information : The Company’s business is conducted through two business segments: its banking subsidiary, which involves the delivery of loan and deposit products to customers, and Peapack Private, which includes asset management services provided for individuals and institutions. Management uses certain methodologies to allocate income and expense to the business segments. The Banking segment includes commercial (includes C&I and equipment financing), commercial real estate, multifamily, residential and consumer lending activities; treasury management services; C&I advisory services; escrow management; deposit generation; operation of ATMs; telephone and internet banking services; merchant credit card services and customer support sales. Peapack Private includes: investment management services for individuals and institutions; personal trust services, including services as executor, trustee, administrator, custodian and guardian; and other financial planning and advisory services. This segment also includes the activity from the Delaware subsidiary, PGB Trust and Investments of Delaware, MCM, QCM, Lassus Wherley and Point View. Wealth management fees are primarily earned over time as the Company provides the contracted monthly or quarterly services and are generally assessed based on a tiered scale of the market value of AUM at month-end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed (i.e. trade date).
Cash and Cash Equivalents	Cash and Cash Equivalents: For purposes of the statements of cash flows, cash and cash equivalents include cash and due from banks, interest-earning deposits and federal funds sold. Generally, federal funds are sold for one-day periods. Cash equivalents are of original maturities of 90 days or less. Net cash flows are reported for customer loan and deposit transactions and overnight borrowings.
Interest-Earning Deposits in Other Financial Institutions	Interest-Earning Deposits in Other Financial Institutions : Interest-earning deposits in other financial institutions mature within one year and are carried at cost.
Securities	Securities : All debt securities are classified as available for sale and are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. The Company also has an investment in a CRA investment fund, which is classified as an equity security. In accordance with ASU 2016-01, “Financial Instruments” (adopted January 1, 2018) unrealized holding gains and losses on equity securities are marked to market through the income statement. Interest income includes amortization of purchase premiums and discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated and premiums on callable debt securities which are amortized to the earliest call date. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. 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 is 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.
Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock	Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) Stock: The Bank is a member of the FHLB system. Members are required to own a certain amount of FHLB stock, based on the level of borrowings and other factors. FHLB stock is carried at cost, classified as a restricted security and periodically evaluated for impairment based on ultimate recovery of par value. Dividends are reported as income. The Bank is also a member of the Federal Reserve Bank of New York and required to own a certain amount of FRB stock. FRB stock is carried at cost and classified as a restricted security. Dividends are reported as income.
Loans Held for Sale	Loans Held for Sale: Mortgage loans originated with the intent to sell in the secondary market are carried at fair value, as determined by outstanding commitments from investors. Mortgage loans held for sale are generally sold with servicing rights released; therefore, no servicing rights are recorded. Gains and losses on sales of mortgage loans, shown as gain on sale of loans on the Statement of Income, are based on the difference between the selling price and the carrying value of the related loan sold. SBA loans originated with the intent to sell in the secondary market are carried at the lower of cost or fair value. SBA loans are generally sold with the servicing rights retained. Gains and losses on the sale of SBA loans are based on the difference between the selling price and the carrying value of the related loan sold. Total SBA loans serviced totaled $51.9 million and $35.1 million as of December 31, 2019 and 2018, respectively. SBA loans held for sale totaled $4.6 million and $1.2 million as of December 31, 2019 and 2018, respectively. The servicing asset recorded was not material. Loans originated with the intent to hold and subsequently transferred to loans held for sale are carried at the lower of cost or fair value. These are loans that the Company no longer has the intent to hold for the foreseeable future.
Loans	Loans: Loans that Management has the intent and ability to hold for the foreseeable future or until maturity are stated at the principal amount outstanding. Interest on loans is recognized based upon the principal amount outstanding. Loans are stated at face value, less purchased premium and discounts and net deferred fees. Loan origination fees and certain direct loan origination costs are deferred and recognized on a level-yield method, over the life of the loan as an adjustment to the loan’s yield. The definition of recorded investment in loans includes accrued interest receivable and deferred fees/cost, however, for the Company’s loan disclosures, accrued interest and deferred fees/costs was excluded as the impact was not material. Loans are considered past due when they are not paid within 30 days in accordance with contractual terms. The accrual of income on loans, including 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. 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 after the Bank receives contractual payments for a minimum of six consecutive months. Commercial loans are generally charged off, in whole or in part, after an analysis is completed which indicates that collectability of the full principal balance is in doubt. Consumer 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 New Jersey, New York and Pennsylvania.
Allowance for Loan Losses	Allowance for Loan Losses: The allowance for loan and lease losses is a valuation allowance for credit losses that is Management’s estimate of probable incurred losses in the loan portfolio. The process to determine reserves utilizes analytical tools and Management judgment and is reviewed on a quarterly basis. When Management is reasonably certain that a loan balance is not fully collectable, an impairment analysis is completed whereby a specific reserve may be established or a full or partial charge off is recorded against the allowance. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the size and composition of the portfolio, information about specific borrower situations, estimated collateral values, economic conditions and other factors. Allocations of the allowance may be made for specific loans via a specific reserve, but the entire allowance is available for any loan that, in Management’s judgment, should be charged off. 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 Bank 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 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 type of loan modification in which the Bank, for legal, economic or business reasons related to a borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider. 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 and lease losses. The general component of the allowance covers non-impaired loans and is based primarily on the Company’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 staffing and experience; 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 both December 31, 2019 and 2018, respectively, the multiple was 2.25 times for non-impaired special mention loans and 3.5 times for non-impaired substandard 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 or purpose. 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 Leasing and Equipment Finance Asset risk in PCC’s portfolio is generally recognized through changes to loan income, or through changes to lease related income streams due to fluctuations in lease rates. Changes to lease income can occur when the existing lease contract expires, the asset comes off lease or the business seeks to enter a new lease agreement. Asset risk may also change depreciation, resulting from changes in the residual value of the operating lease asset or through impairment of the asset carrying value, which can occur at any time during the life of the asset. Credit risk in PCC’s portfolio generally results from the potential default of borrowers or lessees, which may be driven by customer specific or broader industry related conditions. Credit losses can impact multiple parts of the income statement including loss of interest/lease/rental income and/or via higher costs and expenses related to the repossession, refurbishment, re-marketing and or re-leasing of assets. Consumer and Other
Leases	Leases : At inception, contracts are evaluated to determine whether the contract constitutes a lease agreement. For contracts that are determined to be an operating lease, a corresponding right-of-use (“ROU”) asset and operating lease liability are recorded in separate line items on the statement of condition. A ROU asset represents the Company’s right to use an underlying asset during the lease term and a lease liability represents the Company’s commitment to make contractually obligated lease payments. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease and are based on the present value of lease payments over the lease term. The measurement of the operating lease ROU asset includes any lease payments made. If the rate implicit in the lease is not readily determinable, the incremental collateralized borrowing rate is used to determine the present value of lease payments. This rate gives consideration to the applicable FHLB over-collateralized borrowing rates and is based on the information available at the commencement date. The Company has elected to apply the short-term lease measurement and recognition exemption to leases with an initial term of 12 months or less; therefore, these leases are not recorded on the Company’s statement of condition, but rather, lease expense is recognized over the lease term on a straight-line basis. The Company’s lease agreements may include options to extend or terminate the lease. The Company’s decision to exercise renewal options is based on an assessment of its current business needs and market factors at the time of the renewal. The Company maintains certain property and equipment under direct financing and operating leases. Substantially all of the leases in which the Company is the lessee are comprised of real estate property for branches and office space and are classified as operating leases. The Company has two existing finance leases (previously classified as a capital lease and included in premises and equipment on our statement of condition at December 31, 2018) for the Company’s administration building and one branch location. Topic 842 did not materially impact the accounting for these capital leases. The ROU asset is measured at the amount of the lease liability adjusted for lease incentives received, and cumulative prepaid or accrued rent if the lease payments are uneven throughout the lease term, any unamortized initial direct costs, and any impairment of the ROU asset. Operating lease expense consists of: a single lease cost allocated over the remaining lease term on a straight-line basis, variable lease payments not included in the lease liability, and any impairment of the right-of-use-asset. There are no terms or conditions related to residual value guarantees and no restrictions or covenants that would impact the Company’s ability to pay dividends or to incur additional financial obligations.
Premises and Equipment	Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost, less accumulated depreciation. Depreciation charges are computed using the straight-line method. Equipment and other fixed assets are depreciated over the estimated useful lives, which range from three to ten years. Premises are depreciated over the estimated useful life of 40 years, while leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or the term of the lease. Expenditures for maintenance and repairs are expensed as incurred. The cost of major renewals and improvements are capitalized. Gains or losses realized on routine dispositions are recorded as other income or other expense.
Other Real Estate Owned (OREO)	Other Real Estate Owned (OREO): OREO acquired through foreclosure on loans secured by real estate is initially recorded at fair value, less estimated costs to sell. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The assets are subsequently accounted for at the lower of cost or fair value, as established by a current appraisal, less estimated costs to sell. Any write-downs at the date of foreclosure are charged to the allowance for loan losses. Expenses incurred to maintain these properties, losses resulting from write-downs after the date of foreclosure, and realized gains and losses upon sale of the properties are included in other non-interest expense and other non-interest income, as appropriate.
Bank Owned Life Insurance (BOLI)	Bank Owned Life Insurance (BOLI): The Bank has purchased life insurance policies on certain key executives. BOLI is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.
Loan Commitments and Related Financial Instruments	Loan Commitments and Related Financial Instruments: Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded.
Derivatives	Derivatives: At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation. For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. For cash flow hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as non-interest income. When hedge accounting is discontinued on a fair value hedge that no longer qualifies as an effective hedge, the derivative continues to be reported at fair value in the statement of condition, but the carrying amount of the hedged item is no longer adjusted for future changes in fair value. The adjustment to the carrying amount of the hedged item that existed at the date hedge accounting is discontinued is amortized over the remaining life of the hedged item into earnings. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in non-interest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings.
Income Taxes	Income Taxes: The Company files a consolidated Federal income tax return. Separate state income tax returns are filed for each subsidiary based on current laws and regulations. The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in its financial statements or tax returns. The measurement of deferred tax assets and liabilities is based on the enacted tax rates. Such tax assets and liabilities are adjusted for the effect of a change in tax rates in the period of enactment. The Company recognizes a tax position as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50 percent likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. The Company is no longer subject to examination by the U.S. Federal tax authorities for years prior to 2016 or by state and local tax authorities for years prior to 2015. The Company recognizes interest and/or penalties related to income tax matters in income tax expense.
Employee’s Savings and Investment Plan	Employee’s Savings and Investment Plan: The Company has a 401(k) profit-sharing and investment plan, which covers substantially all salaried employees over the age of 21 with at least 12 months of service.
Stock-Based Compensation	Stock-Based Compensation: Compensation cost is recognized for stock options and restricted stock awards/units issued to employees and non-employee directors, based on the fair value of these awards at the date of grant. A Black-Scholes model is utilized to estimate the fair value of stock options, while the fair value of the Company’s common stock at the date of grant is used for restricted stock awards/units. Compensation expense is recognized over the required service or performance period, generally defined as the vesting period. For awards with graded vesting, compensation expense is recognized on a straight-line basis over the requisite service period. The stock options granted under these plans are exercisable at a price equal to the fair value of common stock on the date of grant and expire not more than ten years after the date of grant.
Employee Stock Purchase Plan	Employee Stock Purchase Plan (“ESPP”): On April 22, 2014, the shareholders of the Company approved the 2014 ESPP. In July 2019, the Board appointed ESPP “Committee” revised the ESPP. The ESPP provides for the granting of purchase rights of up to 150,000 shares of Peapack-Gladstone Financial Corporation common stock. Subject to certain eligibility requirements and restrictions, the ESPP now provides for a single Offering Period of twelve months in duration, commencing on or about May 16 of each year. The last day of each Offering Period is May 15 of each year (or such other date as may be determined by the Board). Each participant in the Offering Period is granted an option to purchase a number of shares and may contribute between one percent and 15 percent of their compensation. At the end of each Offering Period on the purchase date, the number of shares to be purchased by the employee is determined by dividing the employee’s contributions accumulated during the Offering Period by the applicable purchase price. The purchase price is an amount equal to 85 percent of the closing market price of a share of common stock on the purchase date. Participation in the ESPP is entirely voluntary and employees can cancel their purchases at any time during the period without penalty. The fair value of each share purchase right is determined using the Black-Scholes option pricing model. The Company recorded $158,000, $189,000 and $116,000 of expense in salaries and employee benefits expense for the twelve months ended December 31, 2019, 2018 and 2017, respectively. Total shares issued under the ESPP were 18,740, 29,273 and 25,404 during 2019, 2018 and 2017, respectively.
Earnings Per Share (“EPS”)	Earnings Per Share (“EPS”): In calculating earnings per share, there are no adjustments to net income available to common shareholders, which is the numerator of both the Basic and Diluted EPS. The weighted average number of shares outstanding used in the denominator for Diluted EPS is increased over the denominator used for Basic EPS by the effect of potentially dilutive common stock equivalents utilizing the treasury stock method. Common stock options outstanding are common stock equivalents, as are restricted stock units until vested. Earnings and dividends per share are restated for all stock splits and stock dividends through the date of issuance of the financial statements. The following table shows the calculation of both basic and diluted earnings per share for the years ended December 31, 2019, 2018 and 2017: (In thousands, except share and per share data) 2019 2018 2017 Net income available to common shareholders $ 47,434 $ 44,170 $ 36,497 Basic weighted average shares outstanding 19,268,870 18,965,305 17,659,625 Plus: common stock equivalents 142,578 183,340 284,060 Diluted weighted average shares outstanding 19,411,448 19,148,645 17,943,685 Earnings per share: Basic $ 2.46 $ 2.33 $ 2.07 Diluted 2.44 2.31 2.03 Restricted stock units totaling 277,677 and 257,422 were not included in the computation of diluted earnings per share because they were anti-dilutive as of December 31, 2019 and 2018, respectively. For the year ended December 31, 2017, there were no stock options or restricted stock units excluded in the computation of diluted earnings per share, as they were all dilutive. Anti-dilutive shares are common stock equivalents with weighted average exercise prices in excess of the average market value for the periods presented.
Loss Contingencies	Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe there are any such matters that will have a material effect on the financial statements.
Restrictions on Cash	Restrictions on Cash: Cash on hand or on deposit with the Federal Reserve Bank of New York was required to meet regulatory reserve and clearing requirements.
Comprehensive Income	Comprehensive Income: Comprehensive income consists of net income and the change during the period in the Company’s net unrealized gains or losses on securities available for sale and unrealized gains and losses on cash flow hedge, net of tax, less adjustments for realized gains and losses.
Equity	Equity: Stock dividends in excess of 20 percent are reported by transferring the par value of the stock issued from retained earnings to common stock. Stock dividends for 20 percent or less are reported by transferring the fair value, as of the ex-dividend date, of the stock issued from retained earnings to common stock and additional paid-in capital. Fractional share amounts are paid in cash with a reduction in retained earnings. Treasury stock is carried at cost.
Transfers of Financial Assets	Transfers of Financial Assets: Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Goodwill is generally determined as the excess of the fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquiree (if any), over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized but tested for impairment at least annually or more frequently if events and circumstances exist that indicate that a goodwill impairment test should be performed. The Company has selected December 31 as the date to perform the annual impairment test. Intangible assets with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Goodwill which includes assembled workforce has an indefinite life on our statement of financial condition. Other intangible assets primarily consist of customer relationship intangible assets arising from acquisition are amortized on an accelerated method over their estimated useful lives, which range from 5 to 15 years.
Reclassification	Reclassification: Certain reclassifications have been made in the prior periods’ financial statements in order to conform to the 2019 presentation and had no effect on the consolidated income statements or the consolidated statements of changes in shareholders’ equity.
Accounting Pronouncements	Accounting Pronouncements: 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. In July 2018, the FASB issued ASU 2018-11 “Leases (Topic 842) Targeted Improvements” which allows entities adopting ASU No. 2016-02 to choose an additional transition method, under which an entity to initially applies the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The amendment in this update becomes effective for annual periods and interim periods within those annual periods beginning after December 15, 2018. The Company has elected the transition method permitted by ASU No. 2018-11 under which an entity shall recognize and measure leases that exist at the application date and prior comparative periods are not adjusted. Upon adoption of the new lease guidance on January 1, 2019, the Company recorded a lease liability of approximately $8.2 million, a right-of-use-asset of approximately $7.9 million and a cumulative effect adjustment to retained earnings of approximately $661,000. 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 has reviewed the potential impact to our securities portfolio, which primarily consists of U.S. government sponsored entities, mortgage-backed securities and municipal securities which have no history of credit loss and have strong credit ratings. The Company does not expect the standard to have a material impact on its financial statements as it relates to the Company’s securities portfolio. The Company is also currently evaluating the impact the CECL model will have on our accounting and allowance for loans losses. The Company has selected a third-party firm to assist in the development of a CECL model to assist in the calculation of the allowance for loan and lease losses in preparation for the change to the expected loss model. The Company is also in the process of updating its policies and internal controls accordingly. The Company expects to recognize a one-time cumulative-effect adjustment to our allowance for loan and lease losses as of the January 1, 2019, 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 consolidated financial condition or results of operations. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement.” The amendment modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The revised guidance is effective for all companies for fiscal years beginning after December 15, 2019, and interim periods within those years. Companies are permitted to early adopt any eliminated or modified disclosure requirements and delay adoption of the additional disclosure requirements until their effective date. The removed and modified disclosures will be adopted on a retrospective basis and the new disclosures will be adopted on a prospective basis. The revised guidance is not expected to have a material impact on our consolidated financial condition or results of operations.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of Calculation of Basic and Diluted Earnings per Share	The following table shows the calculation of both basic and diluted earnings per share for the years ended December 31, 2019, 2018 and 2017: (In thousands, except share and per share data) 2019 2018 2017 Net income available to common shareholders $ 47,434 $ 44,170 $ 36,497 Basic weighted average shares outstanding 19,268,870 18,965,305 17,659,625 Plus: common stock equivalents 142,578 183,340 284,060 Diluted weighted average shares outstanding 19,411,448 19,148,645 17,943,685 Earnings per share: Basic $ 2.46 $ 2.33 $ 2.07 Diluted 2.44 2.31 2.03

INVESTMENT SECURITIES AVAILAB_2

INVESTMENT SECURITIES AVAILABLE FOR SALE (Tables)	12 Months Ended
	Dec. 31, 2019
Investment Securities Available For Sale [Abstract]
Schedule of Amortized Cost and Approximate Fair Value of Securities Available for Sale	A summary of amortized cost and approximate fair value of investment securities available for sale included in the consolidated statements of condition as of December 31, 2019 and 2018 follows: 2019 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored agencies $ 34,961 $ 37 $ (214 ) $ 34,784 Mortgage-backed securities-residential 337,489 2,365 (950 ) 338,904 SBA pool securities 2,799 — (15 ) 2,784 State and political subdivisions 11,175 41 (1 ) 11,215 Corporate bond 3,000 68 — 3,068 Total $ 389,424 $ 2,511 $ (1,180 ) $ 390,755 2018 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value U.S. government-sponsored agencies $ 102,915 $ 82 $ (984 ) $ 102,013 Mortgage-backed securities-residential 254,383 418 (3,439 ) 251,362 SBA pool securities 3,883 — (44 ) 3,839 State and political subdivisions 17,729 27 (146 ) 17,610 Corporate bond 3,000 112 — 3,112 Total $ 381,910 $ 639 $ (4,613 ) $ 377,936
Schedule of Securities by Maturity	The amortized cost and fair value of investment securities available for sale as of December 31, 2019, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Securities not due at a single maturity, such as mortgage-backed securities, marketable equity securities are shown separately. (In thousands) Maturing in: Amortized Cost Fair Value One year or less $ 1,564 $ 1,571 After one year through five years 17,318 17,299 After five years through ten years 30,254 30,197 After ten years — — 49,136 49,067 Mortgage-backed securities-residential 337,489 338,904 SBA pool securities 2,799 2,784 Total $ 389,424 $ 390,755
Schedule of Gross Gains, Gross Losses and Net Tax Benefit	The following is a summary of the gross gains, gross losses and net tax benefit related to proceeds on sales of securities available for sale for the years ended December 31: (In thousands) 2019 2018 2017 Proceeds on sales $ — $ 19,542 $ — Gross gains — 45 — Gross losses — (333 ) — Net tax benefit — (68 ) —
Schedule of Available for Sale Securities with Continuous Unrealized Losses and Approximate Fair Value of Investments	The following table presents the Company’s available for sale securities with continuous unrealized losses and the approximate fair value of these investments as of December 31, 2019 and 2018. 2019 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 $ 19,758 $ (214 ) $ - $ - $ 19,758 $ (214 ) Mortgage-backed securities-residential 78,982 (382 ) 69,142 (568 ) 148,124 (950 ) SBA pool securities — — 2,784 (15 ) 2,784 (15 ) State and political subdivisions 783 (1 ) - - 783 (1 ) Total $ 99,523 $ (597 ) $ 71,926 $ (583 ) $ 171,449 $ (1,180 ) 2018 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 $ 18,840 $ (103 ) $ 33,600 $ (881 ) $ 52,440 $ (984 ) Mortgage-backed securities-residential 51,697 (303 ) 136,130 (3,136 ) 187,827 (3,439 ) SBA pool securities — — 3,839 (44 ) 3,839 (44 ) State and political subdivisions 421 (1 ) 7,274 (145 ) 7,695 (146 ) Total $ 70,958 $ (407 ) $ 180,843 $ (4,206 ) $ 251,801 $ (4,613 )

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Schedule of composition of loans categorized by the type of loan	The following table presents loans outstanding, by type of loan, as of December 31: % of Total % of Total (Dollars in thousands) 2019 Loans 2018 Loans Residential mortgage $ 549,138 12.50 % $ 571,570 14.55 % Multifamily mortgage 1,210,003 27.54 1,135,805 28.92 Commercial mortgage 761,244 17.32 702,165 17.88 Commercial loans (including equipment financing) 1,756,477 39.97 1,397,057 35.57 Commercial construction 5,306 0.12 — — Home equity lines of credit 57,248 1.30 62,191 1.58 Consumer loans, including fixed rate home equity loans 54,372 1.24 58,678 1.49 Other loans 349 0.01 465 0.01 Total loans $ 4,394,137 100.00 % $ 3,927,931 100.00 % In determining an appropriate amount for the allowance for loan losses (“ALLL”), the Bank segments and evaluates the loan portfolio based on Federal call report codes. The following portfolio classes have been identified as of December 31: % of Total % of Total (Dollars in thousands) 2019 Loans 2018 Loans Primary residential mortgage $ 578,306 13.17 % $ 600,891 15.31 % Home equity lines of credit 57,248 1.30 62,191 1.58 Junior lien loan on residence 7,011 0.16 7,418 0.19 Multifamily property 1,210,003 27.56 1,135,805 28.94 Owner-occupied commercial real estate 249,419 5.68 261,193 6.65 Investment commercial real estate 1,095,182 24.95 1,001,918 25.53 Commercial and industrial 867,295 19.76 616,838 15.72 Lease financing 258,401 5.89 172,643 4.40 Farmland/Agricultural production 3,043 0.13 149 0.01 Commercial construction 5,520 0.07 86 0.01 Consumer and other 58,213 1.33 65,180 1.66 Total loans $ 4,389,641 100.00 % $ 3,924,312 100.00 % Net deferred costs 4,496 3,619 Total loans including net deferred costs $ 4,394,137 $ 3,927,931
Schedule of loans to executives and directors	The following table shows the changes in loans to officers, directors and their associates: (In thousands) 2019 2018 Balance, beginning of year $ 4,574 $ 4,688 New loans 1,345 2,174 Repayments (1,551 ) (2,288 ) Loans with individuals no longer considered related parties (204 ) — Balance, at end of year $ 4,164 $ 4,574
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 segment, based on impairment method, and the corresponding balances in the ALLL as of December 31, 2019 and 2018: December 31, 2019 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 6,890 $ 215 $ 571,416 $ 1,875 $ 578,306 $ 2,090 Home equity lines of credit 3 — 57,245 128 57,248 128 Junior lien loan on residence 19 — 6,992 13 7,011 13 Multifamily property — — 1,210,003 6,037 1,210,003 6,037 Owner-occupied commercial real estate 379 — 249,040 2,064 249,419 2,064 Investment commercial real estate 22,605 1,000 1,072,577 14,988 1,095,182 15,988 Commercial and industrial 6,028 1,585 861,267 12,768 867,295 14,353 Lease financing — — 258,401 2,642 258,401 2,642 Secured by farmland and agricultural production — — 3,043 38 3,043 38 Commercial construction — — 5,520 27 5,520 27 Consumer and other — — 58,213 296 58,213 296 Total ALLL $ 35,924 $ 2,800 $ 4,353,717 $ 40,876 $ 4,389,641 $ 43,676 December 31, 2018 Total Ending ALLL Total Ending ALLL Loans Attributable Loans Attributable Individually to Loans Collectively to Loans Evaluated Individually Evaluated Collectively Total for Evaluated for for Evaluated for Total Ending (In thousands) Impairment Impairment Impairment Impairment Loans ALLL Primary residential mortgage $ 9,518 $ 262 $ 591,373 $ 3,244 $ 600,891 $ 3,506 Home equity lines of credit 255 — 61,936 164 62,191 164 Junior lien loan on residence 36 — 7,382 15 7,418 15 Multifamily property 1,262 — 1,134,543 5,959 1,135,805 5,959 Owner-occupied commercial real estate 1,574 — 259,619 2,614 261,193 2,614 Investment commercial real estate 18,655 — 983,263 14,248 1,001,918 14,248 Commercial and industrial — — 616,838 9,839 616,838 9,839 Lease financing — — 172,643 1,772 172,643 1,772 Secured by farmland and agricultural production — — 149 2 149 2 Commercial construction — — 86 1 86 1 Consumer and other — — 65,180 384 65,180 384 Total ALLL $ 31,300 $ 262 $ 3,893,012 $ 38,242 $ 3,924,312 $ 38,504
Schedule of loans individually evaluated for impairment	The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2019 and 2018: December 31, 2019 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 7,310 $ 6,071 $ — $ 7,186 Owner-occupied commercial real estate 450 379 — 1,099 Investment commercial real estate 9,663 8,138 — 14,115 Home equity lines of credit 5 3 — 77 Junior lien loan on residence 92 19 — 29 Total loans with no related allowance $ 17,520 $ 14,610 $ — $ 22,506 With related allowance recorded: Primary residential mortgage $ 819 $ 819 $ 215 $ 1,011 Investment commercial real estate 15,064 14,467 1,000 4,832 Commercial and industrial 6,229 6,028 1,585 3,685 Total loans with related allowance $ 22,112 $ 21,314 $ 2,800 $ 9,528 Total loans individually evaluated for impairment $ 39,632 $ 35,924 $ 2,800 $ 32,034 December 31, 2018 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 9,789 $ 8,502 $ — $ 8,042 Owner-occupied commercial real estate 2,741 1,574 — 2,025 Investment commercial real estate 20,179 18,655 — 13,999 Home equity lines of credit 257 255 — 123 Junior lien loan on residence 102 36 — 45 Multifamily property 1,262 1,262 — 105 Total loans with no related allowance $ 34,330 $ 30,284 $ — $ 24,339 With related allowance recorded: Primary residential mortgage $ 1,016 $ 1,016 $ 262 $ 1,144 Total loans with related allowance $ 1,016 $ 1,016 $ 262 $ 1,144 Total loans individually evaluated for impairment $ 35,346 $ 31,300 $ 262 $ 25,483
Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual	The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2019 and 2018: December 31, 2019 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 4,533 $ — Home equity lines of credit 3 — Junior lien loan on residence 19 — Owner-occupied commercial real estate 379 — Investment commercial real estate 17,919 — Commercial and industrial 6,028 — Total $ 28,881 $ — December 31, 2018 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 5,215 $ — Home equity lines of credit 235 — Junior lien loan on residence 36 — Owner-occupied commercial real estate 1,574 — Investment commercial real estate 18,655 — Total $ 25,715 $ —
Schedule of aging of past due loans	The following tables present the recorded investment in past due loans as of December 31, 2019 and 2018 by class of loans, excluding nonaccrual loans: December 31, 2019 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 1,264 $ — $ — $ 1,264 Home equity lines of credit 80 — — 80 Commercial and industrial 566 — — 566 Total $ 1,910 $ — $ — $ 1,910 December 31, 2018 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 606 $ 491 $ — $ 1,097 Consumer and other 2 — — 2 Total $ 608 $ 491 $ — $ 1,099
Schedule of the risk category of loans by class of loans	The table below presents, based on the most recent analysis performed, the risk category of loans by class of loans for December 31, 2019 and 2018. December 31, 2019 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 570,353 $ 853 $ 7,100 $ — Home equity lines of credit 57,245 — 3 — Junior lien loan on residence 6,992 — 19 — Multifamily property 1,209,288 — 715 — Owner-occupied commercial real estate 247,388 — 2,031 — Investment commercial real estate 1,053,445 6,325 35,412 — Commercial and industrial 847,285 6,382 13,628 — Lease financing 258,401 — — — Secured by farmland and agricultural 3,043 — — — Commercial construction 5,437 83 — — Consumer and other loans 58,213 — — — Total $ 4,317,090 $ 13,643 $ 58,908 $ — December 31, 2018 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 590,372 $ 943 $ 9,576 $ — Home equity lines of credit 61,936 — 255 — Junior lien loan on residence 7,382 — 36 — Multifamily property 1,130,926 3,263 1,616 — Owner-occupied commercial real estate 255,417 249 5,527 — Investment commercial real estate 948,300 20,756 32,862 — Commercial and industrial 608,262 417 8,159 — Lease financing 172,643 — — — Secured by farmland and agricultural 149 — — — Commercial construction — 86 — — Consumer and other loans 64,946 — 234 — Total $ 3,840,333 $ 25,714 $ 58,265 $ —
Schedule of Activity in Allowance for Loan and Lease Losses	The tables below present a roll forward of the ALLL for the years ended December 31, 2019, 2018 and 2017. January 1, December 31, 2019 2019 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 3,506 $ (80 ) $ 205 $ (1,541 ) $ 2,090 Home equity lines of credit 164 — 10 (46 ) 128 Junior lien loan on residence 15 — 11 (13 ) 13 Multifamily property 5,959 — — 78 6,037 Owner-occupied commercial real estate 2,614 — 1,060 (1,610 ) 2,064 Investment commercial real estate 14,248 — — 1,740 15,988 Commercial and industrial 9,839 — 17 4,497 14,353 Lease financing 1,772 — — 870 2,642 Secured by farmland and agricultural 2 — — 36 38 Commercial construction 1 — — 26 27 Consumer and other 384 (55 ) 4 (37 ) 296 Total ALLL $ 38,504 $ (135 ) $ 1,307 $ 4,000 $ 43,676 January 1, December 31, 2018 2018 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 4,085 $ (138 ) $ 160 $ (601 ) $ 3,506 Home equity lines of credit 221 — 10 (67 ) 164 Junior lien loan on residence 12 — 68 (65 ) 15 Multifamily property 10,007 — — (4,048 ) 5,959 Owner-occupied commercial real estate 2,385 (361 ) 66 524 2,614 Investment commercial real estate 11,933 (1,335 ) 45 3,605 14,248 Commercial and industrial 6,563 (46 ) 109 3,213 9,839 Lease financing 884 — — 888 1,772 Secured by farmland and agricultural — — — 2 2 Commercial construction 1 — — — 1 Consumer and other 349 (68 ) 4 99 384 Total ALLL $ 36,440 $ (1,948 ) $ 462 $ 3,550 $ 38,504 January 1, December 31, 2017 2017 Beginning Provision Ending (In thousands) ALLL Charge-Offs Recoveries (Credit) ALLL Primary residential mortgage $ 3,666 $ (889 ) $ 173 $ 1,135 $ 4,085 Home equity lines of credit 233 (23 ) 62 (51 ) 221 Junior lien loan on residence 16 (99 ) 26 69 12 Multifamily property 11,192 — — (1,185 ) 10,007 Owner-occupied commercial real estate 1,774 (734 ) — 1,345 2,385 Investment commercial real estate 10,909 (123 ) 23 1,124 11,933 Commercial and industrial 4,164 (76 ) 115 2,360 6,563 Lease financing — — — 884 884 Secured by farmland and agricultural 2 — — (2 ) — Commercial construction 9 — — (8 ) 1 Consumer and other 243 (77 ) 4 179 349 Total ALLL $ 32,208 $ (2,021 ) $ 403 $ 5,850 $ 36,440
Schedule of loans modified as troubled debt restructurings	The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2019: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 2 $ 530 $ 530 Commercial and industrial 5 6,028 6,028 Total 7 $ 6,558 $ 6,558 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2018: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 2 $ 909 $ 909 Investment commercial real estate 1 15,202 15,202 Total 3 $ 16,111 $ 16,111 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2017: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 6 $ 1,223 $ 1,223 Total 6 $ 1,223 $ 1,223 The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2019 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 1 $ 201 Total 1 $ 201 The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2017 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 1 $ 336 Total 1 $ 336

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Schedule of Premises and Equipment Including Capital Leases	The following table presents premises and equipment as of December 31, (In thousands) 2019 2018 Land and land improvements $ 6,332 $ 6,243 Buildings 12,741 12,653 Furniture and equipment 21,594 20,644 Leasehold improvements 12,228 11,943 Projects in progress 475 145 Capital lease asset — 11,237 53,370 62,865 Less: accumulated depreciation 32,457 35,457 Total $ 20,913 $ 27,408 The Company has classified capital leases as a finance lease right-of-use asset under the new lease guidance for 2019. Capital leases were including in premises and equipment for 2018. The following table presents capital leases as of December 31, (In thousands) 2019 2018 Land and buildings $ 11,237 $ 11,237 Less: accumulated depreciation 6,159 5,411 Total $ 5,078 $ 5,826
Schedule of Future Minimum Lease Payments Under Finance Lease Right-of-Use Asset	The following is a schedule by year of future minimum lease payments under finance lease right-of-use asset, together with the present value of net minimum lease payments as of December 31, 2019: (In thousands) 2020 $ 1,195 2021 1,233 2022 1,391 2023 1,456 2024 1,456 Thereafter 2,283 Total minimum lease payments 9,014 Less: amount representing interest 1,416 Present value of net minimum lease payments $ 7,598

OTHER REAL ESTATE OWNED (Tables

OTHER REAL ESTATE OWNED (Tables)	12 Months Ended
	Dec. 31, 2019
Other Real Estate [Abstract]
Schedule of Activity in Other Real Estate Owned and Related Valuation Allowance	The following table shows the activity in other real estate owned, excluding the valuation allowance, for the years ended December 31: (In thousands) 2019 2018 Balance, beginning of year $ — $ 2,090 OREO properties added 386 — Sales during year (336 ) (2,090 ) Balance, end of year $ 50 $ — The following table shows the activity in the valuation allowance for the years ended December 31: (In thousands) 2019 2018 2017 Balance, beginning of year $ — $ — $ — Additions charged to expense — 232 — Direct writedowns — (232 ) — Balance, end of year $ — $ — $ —
Schedule of Expenses Related to Other Real Estate Owned	The following table shows expenses related to other real estate owned for the years ended December 31: (In thousands) 2019 2018 2017 Net loss/(gain) on sales $ — $ 58 $ — Provision for unrealized losses — 232 — Operating expenses, net of rental income 9 190 117 Total $ 9 $ 480 $ 117

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2019
Deposits [Abstract]
Schedule of Details of Total Deposits	The following table sets forth the details of total deposits as of December 31: (Dollars in thousands) 2019 2018 Noninterest-bearing demand deposits $ 529,281 12.47 % $ 463,926 11.91 % Interest-bearing checking 1,510,363 35.59 1,247,305 32.02 Savings 112,652 2.66 114,674 2.94 Money market 1,196,313 28.19 1,243,369 31.92 Certificates of deposit - retail 633,763 14.94 510,724 13.12 Certificates of deposit - listing service 47,430 1.12 79,195 2.03 Interest-bearing demand - Brokered 180,000 4.24 180,000 4.62 Certificates of deposit - Brokered 33,709 0.79 56,147 1.44 Total deposits $ 4,243,511 100.00 % $ 3,895,340 100.00 %
Scheduled Maturities of Time Deposits	The scheduled maturities of time deposits as of December 31, 2019 are as follows: (In thousands) 2020 $ 480,064 2021 120,344 2022 50,792 2023 8,422 2024 28,349 Over 5 Years 26,931 Total $ 714,902

FEDERAL HOME LOAN BANK ADVANC_2

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of Principal Repayments and Maturities of Advances	The scheduled principal repayments and maturities of advances as of December 31, 2019 are as follows: (In thousands) 2020 $ — 2021 60,000 2022 20,000 2023 25,000 2024 — Over 5 years — Total $ 105,000

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Recurring Basis	The following table summarizes, for the periods indicated, assets measured at fair value on a recurring basis, including financial assets for which the Company has elected the fair value option: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2019 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: U.S. government-sponsored agencies $ 34,784 $ — $ 34,784 $ — Mortgage-backed securities-residential 338,904 — 338,904 — SBA pool securities 2,784 — 2,784 — State and political subdivisions 11,215 — 11,215 — Corporate bond 3,068 — 3,068 — CRA investment fund 10,836 10,836 — — Loans held for sale, at fair value 2,881 — 2,881 — Derivatives: Cash flow hedges 121 — 121 — Loan level swaps 32,381 — 32,381 — Total $ 436,974 $ 10,836 $ 426,138 $ — Liabilities: Derivatives: Cash flow hedges $ 3,788 $ — $ 3,788 $ — Loan level swaps 32,381 — 32,381 — Total $ 36,169 $ — $ 36,169 $ — (In thousands) December 31, 2018 Assets: Securities available for sale: U.S. government-sponsored agencies $ 102,013 $ — $ 102,013 $ — Mortgage-backed securities-residential 251,362 — 251,362 — SBA pool securities 3,839 — 3,839 — State and political subdivisions 17,610 — 17,610 — Corporate bond 3,112 — 3,112 — CRA investment fund 4,719 4,719 — — Loans held for sale, at fair value 1,576 — 1,576 — Derivatives: Cash flow hedges 1,657 — 1,657 — Loan level swaps 9,689 — 9,689 — Total $ 395,577 $ 4,719 $ 390,858 $ — Liabilities: Derivatives: Cash flow hedges $ 849 $ — $ 849 $ — Loan level swaps 9,689 — 9,689 — Total $ 10,538 $ — $ 10,538 $ —
Schedule of Residential Loans Held for Sale	The following tables present residential loans held for sale, at fair value, at the dates indicated: December 31, 2019 December 31, 2018 Residential loans contractual balance $ 2,839 $ 1,552 Fair value adjustment 42 24 Total fair value of residential loans held for sale $ 2,881 $ 1,576
Schedule of Assets Measured at Fair Value on Non-Recurring Basis	The following table summarizes, for the period indicated, assets measured at fair value on a non-recurring basis: Fair Value Measurements Using Quoted Prices In Active Markets Significant For Other Significant Identical Observable Unobservable Assets Inputs Inputs (In thousands) December 31, 2019 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Investment commercial real estate $ 13,467 $ — $ — $ 13,467
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments	The carrying amounts and estimated fair values of financial instruments at December 31, 2019 are as follows: Fair Value Measurements at December 31, 2019 Using (In thousands) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 208,185 $ 208,185 $ — $ — $ 208,185 Securities available for sale 390,755 — 390,755 — 390,755 CRA investment fund 10,836 10,836 — — 10,836 FHLB and FRB stock 24,068 — — — N/A Loans held for sale, at fair value 2,881 — 2,881 — 2,881 Loans held for sale, at lower of cost or fair value 14,667 — 15,126 — 15,126 Loans, net of allowance for loan losses 4,350,461 — — 4,268,481 4,268,481 Accrued interest receivable 10,494 — 1,361 9,133 10,494 Cash flow hedges 121 — 121 — 121 Loan level swaps 32,381 — 32,381 — 32,381 Financial liabilities Deposits $ 4,243,511 $ 3,528,609 $ 718,818 $ — $ 4,247,427 Short-term borrowings 128,100 - 128,100 - 128,100 Federal Home Loan Bank advances 105,000 — 108,354 — 108,354 Subordinated debt 83,417 — — 86,536 86,536 Accrued interest payable 2,357 392 1,910 55 2,357 Cash flow hedges 3,788 — 3,788 — 3,788 Loan level swaps 32,381 — 32,381 — 32,381 The carrying amounts and estimated fair values of financial instruments at December 31, 2018 are as follows: Fair Value Measurements at December 31, 2018 Using (In thousands) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 160,773 $ 160,773 $ — $ — $ 160,773 Securities available for sale 377,936 — 377,936 — 377,936 CRA investment fund 4,719 4,719 — — 4,719 FHLB and FRB stock 18,533 — — — N/A Loans held for sale, at fair value 1,576 — 1,576 — 1,576 Loans held for sale, at lower of cost or fair value 3,542 — 3,654 — 3,654 Loans, net of allowance for loan losses 3,889,427 — — 3,852,004 3,852,004 Accrued interest receivable 10,814 — 1,875 8,939 10,814 Cash flow hedges 1,657 — 1,657 — 1,657 Loan level swaps 9,689 — 9,689 — 9,689 Financial liabilities Deposits $ 3,895,340 $ 3,249,274 $ 640,997 $ — $ 3,890,271 Federal Home Loan Bank advances 108,000 — 108,950 — 108,950 Subordinated debt 83,193 — — 82,207 82,207 Accrued interest payable 2,868 331 2,482 55 2,868 Cash flow hedges 849 — 849 — 849 Loan level swaps 9,689 — 9,689 — 9,689

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	12 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Schedule of Noninterest Income	The following table presents the sources of noninterest income for the years ended December 31: (In thousands) 2019 2018 2017 Service charges on deposits Overdraft fees $ 662 $ 726 $ 715 Interchange income 1,238 1,251 1,164 Other 1,588 1,525 1,360 Wealth management fees 37,508 32,356 22,273 Investment brokerage fees 855 889 910 (Losses)/gains on sales of OREO — (58 ) — Other (a) 12,845 7,504 8,205 Total noninterest other income $ 54,696 $ 44,193 $ 34,627 (a) All of the other category is outside the scope of ASC 606.
Schedule of Noninterest Income by Operating Segment	The following table presents the sources of noninterest income by operating segment for the years ended December 31: 2019 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 662 $ — $ 662 Interchange income 1,238 — 1,238 Other 1,588 — 1,588 Wealth management fees — 37,508 37,508 Investment brokerage fees — 855 855 Losses on sales of OREO — — — Other (a) 11,511 1,334 12,845 Total noninterest income $ 14,999 $ 39,697 $ 54,696 2018 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 726 $ — $ 726 Interchange income 1,251 — 1,251 Other 1,525 — 1,525 Wealth management fees — 32,356 32,356 Investment brokerage fees — 889 889 Gains/(losses) on sales of OREO (58 ) — (58 ) Other (a) 6,569 935 7,504 Total noninterest income $ 10,013 $ 34,180 $ 44,193 2017 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 715 $ — $ 715 Interchange income 1,164 — 1,164 Other 1,360 — 1,360 Wealth management fees — 22,273 22,273 Investment brokerage fees — 910 910 Gains/(losses) on sales of OREO — — — Other (a) 7,704 501 8,205 Total noninterest income $ 10,943 $ 23,684 $ 34,627 (a) All of the other category is outside the scope of ASC 606.

OTHER OPERATING EXPENSES (Table

OTHER OPERATING EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2019
Other Income And Expenses [Abstract]
Schedule of Components of Other Operating Expenses	The following table presents the major components of other operating expenses for the years ended December 31: (In thousands) 2019 2018 2017 Professional and legal fees $ 4,506 $ 4,668 $ 4,486 Telephone 1,361 1,077 998 Advertising 1,363 1,340 1,108 Provision for ORE losses — 232 — Amortization of intangible assets 1,043 1,187 321 Other operating expenses 11,434 10,840 10,388 Total other operating expenses $ 19,707 $ 19,344 $ 17,301

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense Included in Consolidated Financial Statements	The income tax expense included in the consolidated financial statements for the years ended December 31 is allocated as follows: (In thousands) 2019 2018 2017 Federal: Current (benefit)/expense $ 5,647 $ (7,046 ) $ 1,559 Deferred expense 6,087 16,908 13,922 State: Current expense 3,028 3,554 2,133 Deferred expense 3,926 134 196 Total income tax expense $ 18,688 $ 13,550 $ 17,810
Schedule of Total Income Tax Expense Differed from Amounts Computed by Applying U.S. Federal Income Tax Rate to Income Before Taxes	Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 21 percent for both 2019 and 2018, respectively, and 35 percent for 2017, to income before taxes as a result of the following: (In thousands) 2019 2018 2017 Computed “expected” tax expense $ 13,886 $ 12,121 $ 19,008 (Decrease)/increase in taxes resulting from: Tax-exempt income (431 ) (402 ) (584 ) State income taxes, net of Federal benefit 2,540 2,942 1,514 Impact of state tax reform, net of Federal benefit 2,954 — — Bank owned life insurance income (277 ) (290 ) (475 ) Life insurance expense 234 148 479 Gain on death benefit — (630 ) — Interest disallowance 146 115 124 Meals and entertainment expense 40 25 76 Stock-based compensation (46 ) (481 ) (982 ) Impact of Federal tax reform — — (1,648 ) Other (358 ) 2 298 Total income tax expense $ 18,688 $ 13,550 $ 17,810
Schedule of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31 are as follows: (In thousands) 2019 2018 Deferred tax assets: Allowance for loan losses $ 11,369 $ 10,537 Tax net operating loss carryforward 6,163 7,046 Organization costs 13 13 Cash flow hedge 925 — Unrealized loss on securities available for sale — 969 Unrealized loss on equity security 43 79 Stock plan 2,874 1,534 Nonaccrual interest 74 31 Accrued compensation 2,956 189 Accrued expenses 1,402 — Lease liabilities 3,234 — Capital leases (2018)/Finance lease (2019) 768 1,051 Other 188 — Total gross deferred tax assets $ 30,009 $ 21,449 Deferred tax liabilities: Lease financing $ 44,841 $ 33,191 Cash flow hedge — 265 Unrealized gain on securities available for sale 330 — Deferred loan origination costs and fees 1,355 1,214 Deferred income 5,329 2,693 Amortization of intangible assets 239 — Purchase accounting 908 — Lease right-of-use asset 3,158 Other — 115 Total gross deferred tax liabilities 56,160 37,478 Net deferred tax liability $ (26,151 ) $ (16,029 )

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Changes in Options Outstanding	Changes in options outstanding during 2019 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In Thousands) Balance, January 1, 2019 91,310 $ 13.63 Exercised during 2019 (18,660 ) 13.50 Expired during 2019 (930 ) 20.73 Forfeited during 2019 (300 ) 12.98 Balance, December 31, 2019 71,420 $ 13.57 2.10 years $ 1,238 Vested and expected to vest 71,420 $ 13.57 2.10 years $ 1,238 Exercisable at December 31, 2019 71,420 $ 13.57 2.10 years $ 1,238
Schedule of Changes in Non-Vested Performance-Based Shares	Changes in non-vested shares dependent on performance criteria for 2019 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2019 42,998 $ 35.33 Granted during 2019 47,770 26.34 Balance, December 31, 2019 90,768 30.60
Schedule of Changes in Service-Based Restricted Stock Awards/Units	Changes in service based restricted stock awards/units for 2019 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2019 366,541 $ 30.64 Granted during 2019 223,396 26.51 Vested during 2019 (153,063 ) 27.39 Forfeited during 2019 (4,146 ) 31.53 Balance, December 31, 2019 432,728 $ 29.65

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Schedule of Operating Lease Liabilities by Contractual Maturity	The following is a schedule of the Company's operating lease liabilities by contractual maturity as of December 31, 2019: (In thousands) 2020 $ 2,859 2021 2,408 2022 1,886 2023 1,597 2024 1,192 Thereafter 2,638 Total lease payments 12,580 Less: imputed interest 157 Total present value of lease payments $ 12,423
Summary of Supplemental Cash Flow Information Related to Direct Finance and Operating Leases	The following table shows the supplemental cash flow information related to the Company’s direct finance and operating leases for the year ended December 31, 2019: (In thousands) Right-of-use asset obtained in exchange for lease obligation $ 7,012 Operating cash flows from operating leases 2,623 Operating cash flows from direct finance leases 382 Financing cash flows from direct finance leases 748

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2019
Regulatory Capital [Abstract]
Schedule of Regulatory Capital Amounts and Ratios	The Bank’s regulatory capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total capital (to risk-weighted assets) $ 571,509 13.76 % $ 415,487 10.00 % $ 332,389 8.00 % $ 436,261 10.50 % Tier I capital (to risk-weighted assets) 527,833 12.70 332,389 8.00 249,292 6.00 353,164 8.50 Common equity tier I (to risk-weighted assets) 527,832 12.70 270,066 6.50 186,969 4.50 290,841 7.00 Tier I capital (to average assets) 527,833 10.63 248,252 5.00 198,602 4.00 198,602 4.00 As of December 31, 2018: Total capital (to risk-weighted assets) $ 543,008 14.59 % $ 372,186 10.00 % $ 297,749 8.00 % $ 367,533 9.88 % Tier I capital (to risk-weighted assets) 504,504 13.56 297,749 8.00 223,311 6.00 293,096 7.88 Common equity tier I (to risk-weighted assets) 504,502 13.56 241,921 6.50 167,484 4.50 237,268 6.38 Tier I capital (to average assets) 504,504 11.32 222,912 5.00 178,330 4.00 178,330 4.00 The Company’s regulatory capital amounts and ratios are presented in the following table: To Be Well For Capital Capitalized Under For Capital Adequacy Purposes Prompt Corrective Adequacy Including Capital Actual Action Provisions Purposes Conservation Buffer (A) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio As of December 31, 2019: Total capital (to risk-weighted assets) $ 590,614 14.20 % N/A N/A $ 332,783 8.00 % $ 436,778 10.50 % Tier I capital (to risk-weighted assets) 463,521 11.14 N/A N/A 249,587 6.00 353,582 8.50 Common equity tier I (to risk-weighted assets) 463,520 11.14 N/A N/A 187,190 4.50 291,185 7.00 Tier I capital (to average assets) 463,521 9.33 N/A N/A 198,792 4.00 198,792 4.00 As of December 31, 2018: Total capital (to risk-weighted assets) $ 559,937 15.03 % N/A N/A $ 298,047 8.00 % $ 367,902 9.88 % Tier I capital (to risk-weighted assets) 438,240 11.76 N/A N/A 223,535 6.00 293,390 7.88 Common equity tier I (to risk-weighted assets) 438,238 11.76 N/A N/A 167,652 4.50 237,506 6.38 Tier I capital (to average assets) 438,240 9.82 N/A N/A 178,473 4.00 178,473 4.00 (A) As fully phased in on January 1, 2019, the Basel Rules require the Company and the Bank to maintain a 2.5% “capital conservation buffer” on top of the minimum risk-weighted asset ratios. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of (i) Common Equity Tier 1 to risk-weighted assets, (ii) Tier 1 capital to risk-weighted assets or (iii) total capital to risk-weighted assets above the respective minimum but below the capital conservation buffer will face constraints on dividends, equity repurchases and discretionary bonus payments to executive officers based on the amount of the shortfall. The implementation of the capital conservation buffer began on January 1, 2016 at the 0.625% level and increased by 0.625% on each subsequent January 1, until it reached 2.5% on January 1, 2019.

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges	Information about the interest rate swaps designated as cash flow hedges as of December 31, 2019 and 2018 is presented in the following table: (Dollars in thousands) 2019 2018 Notional amount $ 245,000 $ 230,000 Weighted average pay rate 2.05 % 2.04 % Weighted average receive rate 1.83 % 2.33 % Weighted average maturity 2.45 years 2.65 years Unrealized (loss)/gain, net $ (3,667 ) $ 808 Number of contracts 12 11
Schedule of Net Gains/(Losses) Recorded in Accumulated Other Comprehensive Income	The following table presents the net gains/(losses) recorded in accumulated other comprehensive income and the consolidated financial statements relating to the cash flow derivative instruments for the year ended December 31: 2019 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 $ (4,252 ) $ (223 ) $ — 2018 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 $ (328 ) $ (124 ) $ —
Schedule of Cash Flow Hedges Included in Financial Statements	The following tables reflect the cash flow hedges included in the financial statements as of December 31, 2019 and 2018: December 31, 2019 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing deposits $ 245,000 $ (3,667 ) Total included in other assets 70,000 121 Total included in other liabilities 175,000 (3,788 ) December 31, 2018 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing deposits $ 230,000 $ 808 Total included in other assets 130,000 1,657 Total included in other liabilities 100,000 (849 )
Not Designated as Hedging Instrument [Member]
Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges	Information about these swaps is as follows: (Dollars in thousands) December 31, 2019 December 31, 2018 Notional amount $ 793,875 $ 558,690 Fair value $ 32,381 $ 9,689 Weighted average pay rates 4.12 % 4.44 % Weighted average receive rates 3.54 % 4.24 % Weighted average maturity 7.3 years 7.1 years Number of contracts 91 67

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of Income and Total Assets for Reportable Segments	The following table presents the statements of income and total assets for the Company’s reportable segments for the years ended December 31, 2019, 2018 and 2017: Year Ended December 31, 2019 Wealth (In thousands) Banking Management Total Net interest income $ 114,983 $ 5,291 $ 120,274 Noninterest income 14,999 39,697 54,696 Total income 129,982 44,988 174,970 Provision for loan losses 4,000 — 4,000 Compensation and benefits 48,925 21,204 70,129 Premises and equipment expense 12,533 2,202 14,735 FDIC expense 277 — 277 Other noninterest expense 10,932 8,775 19,707 Total noninterest expense 76,667 32,181 108,848 Income before income tax expense 53,315 12,807 66,122 Income tax expense 15,069 3,619 18,688 Net income $ 38,246 $ 9,188 $ 47,434 Total assets at period end $ 5,095,744 $ 87,135 $ 5,182,879 Year Ended December 31, 2018 Wealth (In thousands) Banking Management Total Net interest income $ 110,001 $ 5,162 $ 115,163 Noninterest income 10,013 34,180 44,193 Total income 120,014 39,342 159,356 Provision for loan losses 3,550 — 3,550 Compensation and benefits 44,875 17,927 62,802 Premises and equipment expense 11,747 1,750 13,497 FDIC expense 2,443 — 2,443 Other noninterest expense 11,313 8,031 19,344 Total noninterest expense 73,928 27,708 101,636 Income before income tax expense 46,086 11,634 57,720 Income tax expense 10,819 2,731 13,550 Net income $ 35,267 $ 8,903 $ 44,170 Total assets at period end $ 4,547,179 $ 70,679 $ 4,617,858 Year Ended December 31, 2017 Wealth (In thousands) Banking Management Total Net interest income $ 105,353 $ 5,788 $ 111,141 Noninterest income 10,943 23,684 34,627 Total income 116,296 29,472 145,768 Provision for loan losses 5,850 — 5,850 Compensation and benefits 42,917 11,039 53,956 Premises and equipment expense 10,682 1,306 11,988 FDIC expense 2,366 — 2,366 Other noninterest expense 9,683 7,618 17,301 Total noninterest expense 71,498 19,963 91,461 Income before income tax expense 44,798 9,509 54,307 Income tax expense 14,691 3,119 17,810 Net income $ 30,107 $ 6,390 $ 36,497 Total assets at period end $ 4,202,957 $ 57,590 $ 4,260,547

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
Schedule of Rollforward of Goodwill and Intangible Assets	The table below presents a rollforward of goodwill and intangible assets for the years ended December 31, 2019, 2018 and 2017: Identifiable (In thousands) Goodwill Intangible Assets Balance as of January 1, 2017 $ 1,573 $ 1,535 Acquisitions during the period 15,534 5,466 Amortization during the period — 321 Balance as of December 31, 2017 $ 17,107 $ 6,680 Acquisitions during the period $ 7,310 $ 2,440 Amortization during the period — 1,187 Balance as of December 31, 2018 $ 24,417 $ 7,933 Acquisitions during the period $ 5,791 $ 3,490 Amortization and impairment during the period — 1,043 Balance as of December 31, 2019 $ 30,208 $ 10,380
Schedule of Estimated Amortization Expense	Estimated amortization expense for each of the next five years is shown in the table below. (In thousands) 2020 $ 1,287 2021 1,283 2022 1,127 2023 878 2024 646

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	12 Months Ended
	Dec. 31, 2019
Stockholders Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income/(Loss) Balances, Net of Tax	The following is a summary of the accumulated other comprehensive income/(loss) balances, net of tax, for the years ended December 31, 2019, 2018 and 2017: Amount Other Reclassified Comprehensive Other From Income/(Loss) Comprehensive Accumulated Twelve Months Balance at Income/(Loss) Other Ended Balance at December 31, Before Comprehensive December 31, December 31, (In thousands) 2018 Reclassifications Income/(Loss) 2019 2019 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ (3,006 ) $ 4,012 $ — $ 4,012 $ 1,006 Gains/(losses) on cash flow hedge 661 (3,006 ) (156 ) (3,162 ) (2,501 ) Accumulated other comprehensive loss, net of tax $ (2,345 ) $ 1,006 $ (156 ) $ 850 $ (1,495 ) Cumulative Amount Other Effect Reclassified Comprehensive Adjustment Other From Income/(Loss) for Comprehensive Accumulated Twelve Months Balance at Adoption Income/(Loss) Other Ended Balance at December 31, of ASU Before Comprehensive December 31, December 31, (In thousands) 2017 2018-01 Reclassifications Income/(Loss) 2018 2018 Net unrealized holding loss on securities available for sale, net of tax $ (2,214 ) $ 127 $ (1,137 ) $ 218 $ (919 ) $ (3,006 ) (Losses)/gains on cash flow hedge 1,002 $ — $ (247 ) $ (94 ) $ (341 ) $ 661 Accumulated other comprehensive loss, net of tax $ (1,212 ) $ 127 $ (1,384 ) $ 124 $ (1,260 ) $ (2,345 ) Cumulative Amount Other Effect Reclassified Comprehensive Adjustment Other From Income/(Loss) for Comprehensive Accumulated Twelve Months Balance at Adoption Income/(Loss) Other Ended Balance at December 31, of ASU Before Comprehensive December 31, December 31, (In thousands) 2016 2018-02 Reclassifications Income/(Loss) 2017 2017 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ (1,091 ) $ (392 ) $ (731 ) $ — $ (731 ) $ (2,214 ) (Losses)/gains on cash flow hedge $ (440 ) $ 177 $ 1,265 $ — $ 1,265 $ 1,002 Accumulated other comprehensive loss, net of tax $ (1,531 ) $ (215 ) $ 534 $ — $ 534 $ (1,212 )
Schedule of Reclassifications Out of Accumulated Other Comprehensive Income	The following represents the reclassifications out of accumulated other comprehensive income for the years ended December 31, 2019, 2018 and 2017: Years Ended December 31, (In thousands) 2019 2018 2017 Affected Line Item in Statements of Income Unrealized losses on securities available for sale: Reclassification adjustment for amounts included in net income $ — $ 288 $ — Securities losses, net Income tax benefit — (70 ) — Income tax expense Total reclassifications, net of tax $ — $ 218 $ — Unrealized gains on cash flow hedge derivatives: Reclassification adjustment for amounts included in net income $ (223 ) $ (124 ) $ — Interest expense Income tax expense 67 30 — Tax effect Total reclassifications, net of tax $ (156 ) $ (94 ) $ —

CONDENSED FINANCIAL STATEMENT_2

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (Tables)	12 Months Ended
	Dec. 31, 2019
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Schedule of Condensed Statements of Condition	STATEMENTS OF CONDITION December 31, (In thousands) 2019 2018 Assets Cash $ 13,931 $ 12,971 Interest-earning deposits 523 517 Total cash and cash equivalents 14,454 13,488 Investment in subsidiary 567,964 535,277 Other assets 4,920 3,734 Total assets $ 587,338 $ 552,499 Liabilities Subordinated debt $ 83,417 $ 83,193 Other liabilities 269 293 Total liabilities 83,686 83,486 Shareholders’ equity Common stock 16,733 16,459 Surplus 319,375 309,088 Treasury stock (29,990 ) (8,988 ) Retained earnings 199,029 154,799 Accumulated other comprehensive loss (1,495 ) (2,345 ) Total shareholders’ equity 503,652 469,013 Total liabilities and shareholders’ equity $ 587,338 $ 552,499
Schedule of Condensed Statements of Income	STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Years Ended December 31, (In thousands) 2019 2018 2017 Income Dividend from Bank $ 31,000 $ — $ — Other income 6 4 2 Total income 31,006 4 2 Expenses Interest expense 4,895 4,887 3,206 Other expenses 721 480 554 Total expenses 5,616 5,367 3,760 Income/(loss) before income tax benefit and equity in undistributed earnings of Bank 25,390 (5,363 ) (3,758 ) Income tax benefit (1,178 ) (1,123 ) (1,313 ) Net income/(loss) before equity in undistributed earnings of Bank 26,568 (4,240 ) (2,445 ) Equity in undistributed earnings of Bank/(dividends in excess of earnings) 20,866 48,410 38,942 Net income $ 47,434 $ 44,170 $ 36,497 Other comprehensive income/(loss) 850 (1,260 ) 534 Comprehensive income $ 48,284 $ 42,910 $ 37,031
Schedule of Condensed Statements of Cash Flows	STATEMENTS OF CASH FLOWS Years Ended December 31, (In thousands) 2019 2018 2017 Cash flows from operating activities: Net income $ 47,434 $ 44,170 $ 36,497 Undistributed earnings of Bank (20,866 ) (48,410 ) (38,942 ) Amortization of subordinated debt costs 224 171 135 Increase in other assets (1,186 ) (1,183 ) (1,248 ) (Decrease)/increase in other liabilities (24 ) (256 ) 113 Net cash provided by/(used in) operating activities 25,582 (5,508 ) (3,445 ) Cash flows from investing activities: Capital contribution to subsidiary — (9,322 ) (60,177 ) Net cash used in investing activities — (9,322 ) (60,177 ) Cash flows from financing activities: Cash dividends paid on common stock (3,865 ) (3,712 ) (3,548 ) Exercise of stock options, net of stock swaps 251 275 690 Proceeds from issuance of subordinated debt — — 34,125 Issuance of common shares (DRIP program) — 16,677 36,588 Shares repurchase (21,002 ) — — Net cash (used in)/provided by financing activities (24,616 ) 13,240 67,855 Net increase/(decrease) in cash and cash equivalents 966 (1,590 ) 4,233 Cash and cash equivalents at beginning of period 13,488 15,078 10,845 Cash and cash equivalents at end of period $ 14,454 $ 13,488 $ 15,078

SUPPLEMENTAL DATA (unaudited) (

SUPPLEMENTAL DATA (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of Unaudited Quarterly Financial Data	The following table sets forth certain unaudited quarterly financial data for the periods indicated: Selected 2019 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 44,563 $ 44,603 $ 45,948 $ 45,556 Interest expense 14,556 15,335 15,863 14,642 Net interest income 30,007 29,268 30,085 30,914 Provision for loan losses 100 1,150 800 1,950 Wealth management fee income 9,174 9,568 9,501 10,120 Securities (losses)/gains, net 59 69 34 (45 ) Other income 2,496 3,389 4,881 5,450 Operating expenses 25,715 26,173 26,259 26,701 Income before income tax expense 15,921 14,971 17,442 17,788 Income tax expense 4,496 3,421 5,216 5,555 Net income $ 11,425 $ 11,550 $ 12,226 $ 12,233 Earnings per share-basic $ 0.59 $ 0.59 $ 0.63 $ 0.64 Earnings per share-diluted 0.58 0.59 0.63 0.64 Selected 2018 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 37,068 $ 39,674 $ 40,163 $ 42,781 Interest expense 8,675 10,431 12,021 13,396 Net interest income 28,393 29,243 28,142 29,385 Provision for loan losses 1,250 300 500 1,500 Wealth management fee income 8,367 8,126 8,200 8,552 Securities gains/(losses), net (78 ) (36 ) (325 ) 46 Other income 1,926 3,650 3,108 2,657 Operating expenses 23,337 24,941 24,284 25,524 Income before income tax expense 14,021 15,742 14,341 13,616 Income tax expense 3,214 3,832 3,617 2,887 Net income $ 10,807 $ 11,910 $ 10,724 $ 10,729 Earnings per share-basic $ 0.58 $ 0.63 $ 0.56 $ 0.56 Earnings per share-diluted 0.57 0.62 0.56 0.55

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)	Jan. 01, 2019USD ($)	Dec. 31, 2019USD ($)segmentLeasebranchlocationshares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)shares
Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | segment		2
Federal funds sales periods		1 day
Interest-earning deposits maturities period		1 year
Servicing rights		$ 0
Amount of loans serviced		$ 51,900,000	$ 35,100,000
Threshold period for loan		30 days
Threshold for determining nonaccrual status		90 days
Number of existing finance leases | Lease		2
Number of branch location | branchlocation		1
Issuance of shares for Employee Stock Purchase Plan, shares | shares		18,740	29,273	25,404
Antidilutive securities | shares		277,677	257,422
Dilutive securities | shares				0
Stock dividends excess threshold percentage		20.00%
Stock dividend threshold or less percentage		20.00%
Lease liability	$ 8,200,000	$ 12,423,000
Right-of-use asset	7,900,000	$ 12,132,000
Cumulative effect adjustment to retained earnings	$ 661,000
Employee Stock Option [Member]
Summary Of Significant Accounting Policies [Line Items]
Option term		10 years
Compensation cost		$ 0	$ 0	$ 6,000
Employee Stock [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of share purchase rights authorized | shares		150,000
Share purchase rights offering period		12 months
Percentage of closing market price on purchase date		85.00%
Compensation cost		$ 158,000	$ 189,000	$ 116,000
Premises [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life		40 years
Substandard [Member]
Summary Of Significant Accounting Policies [Line Items]
Loan reserve multiple		3.5	3.5
Special Mention [Member]
Summary Of Significant Accounting Policies [Line Items]
Loan reserve multiple		2.25	2.25
Consumer and Other [Member]
Summary Of Significant Accounting Policies [Line Items]
Threshold for determining nonaccrual status		120 days
Small Business Administration Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Loans held for sale		$ 4,600,000	$ 1,200,000
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash equivalents original maturities period		90 days
Finite-lived intangible asset, useful life		15 years
Maximum [Member] | Employee Stock Option [Member]
Summary Of Significant Accounting Policies [Line Items]
Option term		10 years
Maximum [Member] | Employee Stock [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of compensation contributable		15.00%
Maximum [Member] | Equipment and Other Fixed Assets [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life		10 years
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived intangible asset, useful life		5 years
Minimum [Member] | Employee Stock [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of compensation contributable		1.00%
Minimum [Member] | Equipment and Other Fixed Assets [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life		3 years
Peapack-Gladstone Mortgage Group, Inc. [Member] | Peapack Ventures, LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned		99.00%
Peapack-Gladstone Mortgage Group, Inc. [Member] | Peapack-Gladstone Realty, Inc [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned		79.00%
PGB Trust & Investments of Delaware [Member] | Peapack Ventures, LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned		1.00%
Peapack Ventures, LLC [Member] | Peapack-Gladstone Realty, Inc [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of interest owned		21.00%

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Calculation of Basic and Diluted Earnings per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Net income available to common shareholders									$ 47,434	$ 44,170	$ 36,497
Basic weighted average shares outstanding									19,268,870	18,965,305	17,659,625
Plus: common stock equivalents									142,578	183,340	284,060
Diluted weighted average shares outstanding									19,411,448	19,148,645	17,943,685
Earnings per share:
Basic	$ 0.64	$ 0.63	$ 0.59	$ 0.59	$ 0.56	$ 0.56	$ 0.63	$ 0.58	$ 2.46	$ 2.33	$ 2.07
Diluted	$ 0.64	$ 0.63	$ 0.59	$ 0.58	$ 0.55	$ 0.56	$ 0.62	$ 0.57	$ 2.44	$ 2.31	$ 2.03

INVESTMENT SECURITIES AVAILAB_3

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Amortized Cost and Approximate Fair Value of Securities Available for Sale) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 389,424	$ 381,910
Gross Unrealized Gains	2,511	639
Gross Unrealized Losses	(1,180)	(4,613)
Fair Value	390,755	377,936
U.S. Government-Sponsored Agencies [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	34,961	102,915
Gross Unrealized Gains	37	82
Gross Unrealized Losses	(214)	(984)
Fair Value	34,784	102,013
Mortgage-Backed Securities-Residential [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	337,489	254,383
Gross Unrealized Gains	2,365	418
Gross Unrealized Losses	(950)	(3,439)
Fair Value	338,904	251,362
SBA Pool Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	2,799	3,883
Gross Unrealized Gains
Gross Unrealized Losses	(15)	(44)
Fair Value	2,784	3,839
State and Political Subdivisions [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	11,175	17,729
Gross Unrealized Gains	41	27
Gross Unrealized Losses	(1)	(146)
Fair Value	11,215	17,610
Corporate Bond [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	3,000	3,000
Gross Unrealized Gains	68	112
Gross Unrealized Losses
Fair Value	$ 3,068	$ 3,112

INVESTMENT SECURITIES AVAILAB_4

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Securities by Maturity) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Amortized Cost
Due in one year or less	$ 1,564
Due after one year through five years	17,318
Due after five years through ten years	30,254
Due after ten years
Total	49,136
Total Amortized Cost	389,424	$ 381,910
Fair Value
Due in one year or less	1,571
Due after one year through five years	17,299
Due after five years through ten years	30,197
Due after ten years
Total	49,067
Total Fair Value	390,755	377,936
Mortgage-Backed Securities-Residential [Member]
Amortized Cost
Securities not due at a single maturity	337,489
Total Amortized Cost	337,489	254,383
Fair Value
Securities not due at a single maturity	338,904
Total Fair Value	338,904	251,362
SBA Pool Securities [Member]
Amortized Cost
Securities not due at a single maturity	2,799
Total Amortized Cost	2,799	3,883
Fair Value
Securities not due at a single maturity	2,784
Total Fair Value	$ 2,784	$ 3,839

INVESTMENT SECURITIES AVAILAB_5

INVESTMENT SECURITIES AVAILABLE FOR SALE - Additional Information (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale Securities	$ 374,600,000				$ 337,100,000				$ 374,600,000	$ 337,100,000
Other than temporary impairment charges									0	0	$ 0
Securities gains/(losses), net	$ (45,000)	$ 34,000	$ 69,000	$ 59,000	$ 46,000	$ (325,000)	$ (36,000)	$ (78,000)	117,000	(393,000)
CRA Investment Fund [Member]
Schedule Of Available For Sale Securities [Line Items]
Securities gains/(losses), net									$ 117,000	$ (105,000)

INVESTMENT SECURITIES AVAILAB_6

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Gross Gains, Gross Losses and Net Tax Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investment Securities Available For Sale [Abstract]
Proceeds on sales		$ 19,542
Gross gains		45
Gross losses		(333)
Net tax benefit		$ (68)

INVESTMENT SECURITIES AVAILAB_7

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Available for Sale Securities with Continuous Unrealized Losses and Approximate Fair Value of Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Approximate Fair Value
Less Than 12 Months	$ 99,523	$ 70,958
12 Months or Longer	71,926	180,843
Total	171,449	251,801
Unrealized Losses
Less Than 12 Months	(597)	(407)
12 Months or Longer	(583)	(4,206)
Total	(1,180)	(4,613)
12 Months or Longer	71,926	180,843
Total	171,449	251,801
U.S. Government-Sponsored Agencies [Member]
Approximate Fair Value
Less Than 12 Months	19,758	18,840
12 Months or Longer		33,600
Total	19,758	52,440
Unrealized Losses
Less Than 12 Months	(214)	(103)
12 Months or Longer		(881)
Total	(214)	(984)
12 Months or Longer		33,600
Total	19,758	52,440
Mortgage-Backed Securities-Residential [Member]
Approximate Fair Value
Less Than 12 Months	78,982	51,697
12 Months or Longer	69,142	136,130
Total	148,124	187,827
Unrealized Losses
Less Than 12 Months	(382)	(303)
12 Months or Longer	(568)	(3,136)
Total	(950)	(3,439)
12 Months or Longer	69,142	136,130
Total	148,124	187,827
SBA Pool Securities [Member]
Approximate Fair Value
Less Than 12 Months
12 Months or Longer	2,784	3,839
Total	2,784	3,839
Unrealized Losses
Less Than 12 Months
12 Months or Longer	(15)	(44)
Total	(15)	(44)
12 Months or Longer	2,784	3,839
Total	2,784	3,839
State and Political Subdivisions [Member]
Approximate Fair Value
Less Than 12 Months	783	421
12 Months or Longer		7,274
Total	783	7,695
Unrealized Losses
Less Than 12 Months	(1)	(1)
12 Months or Longer		(145)
Total	(1)	(146)
12 Months or Longer		7,274
Total	$ 783	$ 7,695

LOANS (Schedule of Loans Outsta

LOANS (Schedule of Loans Outstanding, by Type of Loan) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Total loans	$ 4,394,137	$ 3,927,931
Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	100.00%	100.00%
Unallocated Financing Receivables [Member]
Total loans	$ 349	$ 465
Unallocated Financing Receivables [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	0.01%	0.01%
Residential Mortgage [Member] | Residential Portfolio Segment [Member]
Total loans	$ 549,138	$ 571,570
Residential Mortgage [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	12.50%	14.55%
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans	$ 1,210,003	$ 1,135,805
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	27.54%	28.92%
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 761,244	$ 702,165
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	17.32%	17.88%
Commercial Loans Including Equipment Financing [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	$ 1,756,477	$ 1,397,057
Commercial Loans Including Equipment Financing [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	39.97%	35.57%
Construction [Member] | Commercial Portfolio Segment [Member]
Total loans	$ 5,306
Construction [Member] | Commercial Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	0.12%
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans	$ 57,248	$ 62,191
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	1.30%	1.58%
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other Loans [Member]
Total loans	$ 54,372	$ 58,678
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other Loans [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)	1.24%	1.49%

LOANS (Schedule of Loan Balance

LOANS (Schedule of Loan Balances by Portfolio Class) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Total loans	$ 4,389,641	$ 3,924,312
Net deferred costs	4,496	3,619
Total loans including net deferred costs	$ 4,394,137	$ 3,927,931
Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	100.00%	100.00%
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	$ 578,306	$ 600,891
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	13.17%	15.31%
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total loans	$ 57,248	$ 62,191
Total loans including net deferred costs	$ 57,248	$ 62,191
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	1.30%	1.58%
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	$ 1,210,003	$ 1,135,805
Total loans including net deferred costs	$ 1,210,003	$ 1,135,805
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	27.56%	28.94%
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	$ 7,011	$ 7,418
Residential Portfolio Segment [Member] | Junior Lien [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.16%	0.19%
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Total loans	$ 249,419	$ 261,193
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	5.68%	6.65%
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans	$ 1,095,182	$ 1,001,918
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	24.95%	25.53%
Commercial Portfolio Segment [Member] | Construction [Member]
Total loans	$ 5,520	$ 86
Total loans including net deferred costs	$ 5,306
Commercial Portfolio Segment [Member] | Construction [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.07%	0.01%
Consumer and Other Loans [Member]
Total loans	$ 58,213	$ 65,180
Consumer and Other Loans [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	1.33%	1.66%
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total loans	$ 867,295	$ 616,838
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	19.76%	15.72%
Lease Financing [Member]
Total loans	$ 258,401	$ 172,643
Lease Financing [Member] | Commercial Portfolio Segment [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	5.89%	4.40%
Agricultural Sector [Member]
Total loans	$ 3,043	$ 149
Agricultural Sector [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	0.13%	0.01%

LOANS - Additional Information

LOANS - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019USD ($)Loan	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Financing Receivable Recorded Investment Past Due [Line Items]
Loans held for sale, at lower of cost or fair value	$ 14,667,000	$ 3,542,000
Gain (loss) on loans held for sale at lower of cost or fair value	(10,000)	(4,392,000)	$ 412,000
Impaired non-accrual loans	28,881,000	25,715,000
Impaired non-accrual loans performing troubled debt restructured	2,400,000	4,300,000
Allowance allocated to troubled debt restructured loans	2,800,000	262,000
Allowance allocated to non accrual loans	2,700,000	161,000
Loan receivable, validate risk ratings performed for new lending to existing relationships	1,000,000
Loan receivable, validate risk ratings performed for criticized and classified rated borrowers with relationship exposure, value	500,000
Loan receivable, validate risk ratings performed for random sample of borrowers with relationship, value	1,000,000
Loan receivable, validate risk ratings performed for new regulation "O" loan commitments, value	1,000,000
Loan receivable validate risk ratings performed for leveraged loans, value	1,000,000
Loan receivable validate risk ratings performed for no borrower with commitments, value	250,000
Troubled debt restructurings specific reserves to customers	2,800,000	262,000
Substandard [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Financing receivable impaired loan	$ 35,900,000	31,200,000
Multifamily Property [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Loans held for sale, at lower of cost or fair value		$ 131,300,000
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Loans held for sale, at lower of cost or fair value			$ 109,900,000
Commercial and Industrial Sector [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Number of loan sold | Loan	1
Loans held for sale, at lower of cost or fair value	$ 5,000,000

LOANS (Schedule of Related Part

LOANS (Schedule of Related Party Loan Balances) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Loans receivable from executive officers and directors
Balance, beginning of year	$ 4,574	$ 4,688
New loans	1,345	2,174
Repayments	(1,551)	(2,288)
Loans with individuals no longer considered related parties	(204)
Balance, at end of year	$ 4,164	$ 4,574

LOANS (Schedule of Balances by

LOANS (Schedule of Balances by Portfolio Class, Based on Impairment Method) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Total Loans Individually Evaluated for Impairment	$ 35,924	$ 31,300
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	2,800	262
Total Loans Collectively Evaluated for Impairment	4,353,717	3,893,012
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	40,876	38,242
Total Loans	4,389,641	3,924,312
Total Ending ALLL	43,676	38,504	$ 36,440	$ 32,208
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total Loans Individually Evaluated for Impairment	6,890	9,518
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	215	262
Total Loans Collectively Evaluated for Impairment	571,416	591,373
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	1,875	3,244
Total Loans	578,306	600,891
Total Ending ALLL	2,090	3,506	4,085	3,666
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total Loans Individually Evaluated for Impairment	3	255
Total Loans Collectively Evaluated for Impairment	57,245	61,936
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	128	164
Total Loans	57,248	62,191
Total Ending ALLL	128	164	221	233
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total Loans Individually Evaluated for Impairment		1,262
Total Loans Collectively Evaluated for Impairment	1,210,003	1,134,543
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	6,037	5,959
Total Loans	1,210,003	1,135,805
Total Ending ALLL	6,037	5,959	10,007	11,192
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans Individually Evaluated for Impairment	19	36
Total Loans Collectively Evaluated for Impairment	6,992	7,382
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	13	15
Total Loans	7,011	7,418
Total Ending ALLL	13	15	12	16
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Total Loans Individually Evaluated for Impairment	379	1,574
Total Loans Collectively Evaluated for Impairment	249,040	259,619
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2,064	2,614
Total Loans	249,419	261,193
Total Ending ALLL	2,064	2,614	2,385	1,774
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total Loans Individually Evaluated for Impairment	22,605	18,655
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	1,000
Total Loans Collectively Evaluated for Impairment	1,072,577	983,263
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	14,988	14,248
Total Loans	1,095,182	1,001,918
Total Ending ALLL	15,988	14,248	11,933	10,909
Commercial Portfolio Segment [Member] | Construction [Member]
Total Loans Collectively Evaluated for Impairment	5,520	86
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	27	1
Total Loans	5,520	86
Total Ending ALLL	27	1	1	9
Consumer and Other [Member]
Total Loans Collectively Evaluated for Impairment	58,213	65,180
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	296	384
Total Loans	58,213	65,180
Total Ending ALLL	296	384	349	243
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment	6,028
Ending ALLL Attributable to Loans Individually Evaluated for Impairment	1,585
Total Loans Collectively Evaluated for Impairment	861,267	616,838
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	12,768	9,839
Total Loans	867,295	616,838
Total Ending ALLL	14,353	9,839	$ 6,563	4,164
Lease Financing [Member]
Total Loans Collectively Evaluated for Impairment	258,401	172,643
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	2,642	1,772
Total Loans	258,401	172,643
Total Ending ALLL	2,642	1,772
Agricultural Sector [Member]
Total Loans Collectively Evaluated for Impairment	3,043	149
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment	38	2
Total Loans	3,043	149
Total Ending ALLL	$ 38	$ 2		$ 2

LOANS (Schedule of Loans Indivi

LOANS (Schedule of Loans Individually Evaluated for Impairment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Unpaid Principal Balance
With no related allowance recorded	$ 17,520	$ 34,330
With related allowance recorded	22,112	1,016
Total loans individually evaluated for impairment	39,632	35,346
Recorded Investment
With no related allowance recorded	14,610	30,284
With related allowance recorded	21,314	1,016
Total loans individually evaluated for impairment	35,924	31,300
Specific Reserves	2,800	262
Average Impaired Loans
With no related allowance recorded	22,506	24,339
With related allowance recorded	9,528	1,144
Total loans individually evaluated for impairment	32,034	25,483
Multifamily Property [Member]
Unpaid Principal Balance
With no related allowance recorded		1,262
Recorded Investment
With no related allowance recorded		1,262
Average Impaired Loans
With no related allowance recorded		105
Residential Portfolio Segment [Member] | Junior Lien [Member]
Unpaid Principal Balance
With no related allowance recorded	92	102
Recorded Investment
With no related allowance recorded	19	36
Average Impaired Loans
With no related allowance recorded	29	45
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Unpaid Principal Balance
With no related allowance recorded	7,310	9,789
With related allowance recorded	819	1,016
Recorded Investment
With no related allowance recorded	6,071	8,502
With related allowance recorded	819	1,016
Specific Reserves	215	262
Average Impaired Loans
With no related allowance recorded	7,186	8,042
With related allowance recorded	1,011	1,144
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Unpaid Principal Balance
With no related allowance recorded	5	257
Recorded Investment
With no related allowance recorded	3	255
Average Impaired Loans
With no related allowance recorded	77	123
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Unpaid Principal Balance
With no related allowance recorded	450	2,741
Recorded Investment
With no related allowance recorded	379	1,574
Average Impaired Loans
With no related allowance recorded	1,099	2,025
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Unpaid Principal Balance
With no related allowance recorded	9,663	20,179
With related allowance recorded	15,064
Recorded Investment
With no related allowance recorded	8,138	18,655
With related allowance recorded	14,467
Specific Reserves	1,000
Average Impaired Loans
With no related allowance recorded	14,115	$ 13,999
With related allowance recorded	4,832
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Unpaid Principal Balance
With related allowance recorded	6,229
Recorded Investment
With related allowance recorded	6,028
Specific Reserves	1,585
Average Impaired Loans
With related allowance recorded	$ 3,685

LOANS (Schedule of Investment i

LOANS (Schedule of Investment in Nonaccrual and Loans Past Due Over 90 Days) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Impaired non-accrual loans	$ 28,881	$ 25,715
Loans Past Due Over 90 Days And Still Accruing Interest	0	0
Residential Portfolio Segment [Member] | Junior Lien [Member]
Impaired non-accrual loans	19	36
Loans Past Due Over 90 Days And Still Accruing Interest	0	0
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Impaired non-accrual loans	4,533	5,215
Loans Past Due Over 90 Days And Still Accruing Interest	0	0
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Impaired non-accrual loans	3	235
Loans Past Due Over 90 Days And Still Accruing Interest	0	0
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Impaired non-accrual loans	379	1,574
Loans Past Due Over 90 Days And Still Accruing Interest	0	0
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Impaired non-accrual loans	17,919	18,655
Loans Past Due Over 90 Days And Still Accruing Interest	0	$ 0
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Impaired non-accrual loans	6,028
Loans Past Due Over 90 Days And Still Accruing Interest	$ 0

LOANS (Schedule of Aging of Pas

LOANS (Schedule of Aging of Past Due Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Total Past Due	$ 1,910	$ 1,099
30 to 59 Days Past Due [Member]
Total Past Due	1,910	608
60 to 89 Days Past Due [Member]
Total Past Due	0	491
Greater Than 90 Days [Member]
Total Past Due	0	0
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total Past Due	1,264	1,097
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total Past Due	80
Residential Portfolio Segment [Member] | 30 to 59 Days Past Due [Member] | Primary Residential Mortgages [Member]
Total Past Due	1,264	606
Residential Portfolio Segment [Member] | 30 to 59 Days Past Due [Member] | Home Equity Lines of Credit [Member]
Total Past Due	80
Residential Portfolio Segment [Member] | 60 to 89 Days Past Due [Member] | Primary Residential Mortgages [Member]
Total Past Due	0	491
Residential Portfolio Segment [Member] | Greater Than 90 Days [Member] | Primary Residential Mortgages [Member]
Total Past Due	0	0
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Total Past Due	566
Commercial Portfolio Segment [Member] | 30 to 59 Days Past Due [Member] | Commercial and Industrial Sector [Member]
Total Past Due	$ 566
Consumer and Other [Member]
Total Past Due		2
Consumer and Other [Member] | 30 to 59 Days Past Due [Member]
Total Past Due		$ 2

LOANS (Schedule of Risk Categor

LOANS (Schedule of Risk Category of Loans by Class of Loans) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Total loans	$ 4,389,641	$ 3,924,312
Lease Financing [Member]
Total loans	258,401	172,643
Agricultural Sector [Member]
Total loans	3,043	149
Pass [Member]
Total loans	4,317,090	3,840,333
Pass [Member] | Lease Financing [Member]
Total loans	258,401	172,643
Pass [Member] | Agricultural Sector [Member]
Total loans	3,043	149
Special Mention [Member]
Total loans	13,643	25,714
Substandard [Member]
Total loans	58,908	58,265
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans	7,011	7,418
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans	578,306	600,891
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total loans	57,248	62,191
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans	1,210,003	1,135,805
Residential Portfolio Segment [Member] | Pass [Member] | Junior Lien [Member]
Total loans	6,992	7,382
Residential Portfolio Segment [Member] | Pass [Member] | Primary Residential Mortgages [Member]
Total loans	570,353	590,372
Residential Portfolio Segment [Member] | Pass [Member] | Home Equity Lines of Credit [Member]
Total loans	57,245	61,936
Residential Portfolio Segment [Member] | Pass [Member] | Multifamily Property [Member]
Total loans	1,209,288	1,130,926
Residential Portfolio Segment [Member] | Special Mention [Member] | Primary Residential Mortgages [Member]
Total loans	853	943
Residential Portfolio Segment [Member] | Special Mention [Member] | Multifamily Property [Member]
Total loans		3,263
Residential Portfolio Segment [Member] | Substandard [Member] | Junior Lien [Member]
Total loans	19	36
Residential Portfolio Segment [Member] | Substandard [Member] | Primary Residential Mortgages [Member]
Total loans	7,100	9,576
Residential Portfolio Segment [Member] | Substandard [Member] | Home Equity Lines of Credit [Member]
Total loans	3	255
Residential Portfolio Segment [Member] | Substandard [Member] | Multifamily Property [Member]
Total loans	715	1,616
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans	1,095,182	1,001,918
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Owner Occupied Property [Member]
Total loans	247,388	255,417
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Investment Property [Member]
Total loans	1,053,445	948,300
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Owner Occupied Property [Member]
Total loans		249
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Investment Property [Member]
Total loans	6,325	20,756
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Owner Occupied Property [Member]
Total loans	2,031	5,527
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Investment Property [Member]
Total loans	35,412	32,862
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Total loans	867,295	616,838
Commercial Portfolio Segment [Member] | Construction [Member]
Total loans	5,520	86
Commercial Portfolio Segment [Member] | Pass [Member] | Commercial and Industrial Sector [Member]
Total loans	847,285	608,262
Commercial Portfolio Segment [Member] | Pass [Member] | Construction [Member]
Total loans	5,437	0
Commercial Portfolio Segment [Member] | Special Mention [Member] | Commercial and Industrial Sector [Member]
Total loans	6,382	417
Commercial Portfolio Segment [Member] | Special Mention [Member] | Construction [Member]
Total loans	83	86
Commercial Portfolio Segment [Member] | Substandard [Member] | Commercial and Industrial Sector [Member]
Total loans	13,628	8,159
Consumer and Other Loans [Member]
Total loans	58,213	65,180
Consumer and Other Loans [Member] | Pass [Member]
Total loans	$ 58,213	64,946
Consumer and Other Loans [Member] | Substandard [Member]
Total loans		$ 234

LOANS (Schedule of Activity in

LOANS (Schedule of Activity in Allowance for Loan Losses) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for loan losses
Beginning ALLL				$ 38,504				$ 36,440	$ 38,504	$ 36,440	$ 32,208
Charge-Offs									(135)	(1,948)	(2,021)
Recoveries									1,307	462	403
Provision (Credit)	$ 1,950	$ 800	$ 1,150	100	$ 1,500	$ 500	$ 300	1,250	4,000	3,550	5,850
Ending ALLL	43,676				38,504				43,676	38,504	36,440
Agricultural Sector [Member]
Allowance for loan losses
Beginning ALLL				2					2		2
Provision (Credit)									36	2	(2)
Ending ALLL	38				2				38	2
Residential Portfolio Segment [Member] | Junior Lien [Member]
Allowance for loan losses
Beginning ALLL				15				12	15	12	16
Charge-Offs											(99)
Recoveries									11	68	26
Provision (Credit)									(13)	(65)	69
Ending ALLL	13				15				13	15	12
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Allowance for loan losses
Beginning ALLL				3,506				4,085	3,506	4,085	3,666
Charge-Offs									(80)	(138)	(889)
Recoveries									205	160	173
Provision (Credit)									(1,541)	(601)	1,135
Ending ALLL	2,090				3,506				2,090	3,506	4,085
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Allowance for loan losses
Beginning ALLL				164				221	164	221	233
Charge-Offs											(23)
Recoveries									10	10	62
Provision (Credit)									(46)	(67)	(51)
Ending ALLL	128				164				128	164	221
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Allowance for loan losses
Beginning ALLL				5,959				10,007	5,959	10,007	11,192
Provision (Credit)									78	(4,048)	(1,185)
Ending ALLL	6,037				5,959				6,037	5,959	10,007
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Allowance for loan losses
Beginning ALLL				2,614				2,385	2,614	2,385	1,774
Charge-Offs										(361)	(734)
Recoveries									1,060	66
Provision (Credit)									(1,610)	524	1,345
Ending ALLL	2,064				2,614				2,064	2,614	2,385
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Allowance for loan losses
Beginning ALLL				14,248				11,933	14,248	11,933	10,909
Charge-Offs										(1,335)	(123)
Recoveries										45	23
Provision (Credit)									1,740	3,605	1,124
Ending ALLL	15,988				14,248				15,988	14,248	11,933
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Allowance for loan losses
Beginning ALLL				9,839				6,563	9,839	6,563	4,164
Charge-Offs										(46)	(76)
Recoveries									17	109	115
Provision (Credit)									4,497	3,213	2,360
Ending ALLL	14,353				9,839				14,353	9,839	6,563
Commercial Portfolio Segment [Member] | Lease Financing [Member]
Allowance for loan losses
Beginning ALLL				1,772				884	1,772	884
Provision (Credit)									870	888	884
Ending ALLL	2,642				1,772				2,642	1,772	884
Commercial Portfolio Segment [Member] | Construction [Member]
Allowance for loan losses
Beginning ALLL				1				1	1	1	9
Provision (Credit)									26		(8)
Ending ALLL	27				1				27	1	1
Consumer and Other [Member]
Allowance for loan losses
Beginning ALLL				$ 384				$ 349	384	349	243
Charge-Offs									(55)	(68)	(77)
Recoveries									4	4	4
Provision (Credit)									(37)	99	179
Ending ALLL	$ 296				$ 384				$ 296	$ 384	$ 349

LOANS (Schedule of Loans Modifi

LOANS (Schedule of Loans Modified as Troubled Debt Restructurings) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)N	Dec. 31, 2018USD ($)N	Dec. 31, 2017USD ($)N
Number of Contracts | N	7	3	6
Pre-Modification Outstanding Recorded Investment	$ 6,558	$ 16,111	$ 1,223
Post-Modification Outstanding Recorded Investment	$ 6,558	$ 16,111	$ 1,223
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Number of Contracts | N	2	2	6
Pre-Modification Outstanding Recorded Investment	$ 530	$ 909	$ 1,223
Post-Modification Outstanding Recorded Investment	$ 530	$ 909	$ 1,223
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Number of Contracts | N		1
Pre-Modification Outstanding Recorded Investment		$ 15,202
Post-Modification Outstanding Recorded Investment		$ 15,202
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Number of Contracts | N	5
Pre-Modification Outstanding Recorded Investment	$ 6,028
Post-Modification Outstanding Recorded Investment	$ 6,028

LOANS (Schedule of Modified as

LOANS (Schedule of Modified as Troubled Debt Restructurings Subsequently Defaulted) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)N	Dec. 31, 2017USD ($)N
Number of Subsequently Defaulted Contracts | N	1	1
Subsequently Defaulted Recorded Investment | $	$ 201	$ 336
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Number of Subsequently Defaulted Contracts | N	1	1
Subsequently Defaulted Recorded Investment | $	$ 201	$ 336

PREMISES AND EQUIPMENT (Schedul

PREMISES AND EQUIPMENT (Schedule of Premises and Equipment Including Capital Leases) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Premises and equipment, gross	$ 53,370	$ 62,865
Less: accumulated depreciation	32,457	35,457
Total	20,913	27,408
Land and buildings	11,237
Less: accumulated depreciation	6,159
Total	5,078
Land and Land Improvements [Member]
Premises and equipment, excluding lease asset	6,332	6,243
Buildings [Member]
Premises and equipment, excluding lease asset	12,741	12,653
Furniture and Equipment [Member]
Premises and equipment, excluding lease asset	21,594	20,644
Leasehold Improvements [Member]
Premises and equipment, excluding lease asset	12,228	11,943
Projects in Progress [Member]
Premises and equipment, excluding lease asset	$ 475	145
Capital Lease Asset [Member]
Capital lease asset		11,237
Premises and equipment, gross		11,237
Less: accumulated depreciation		5,411
Total		$ 5,826

PREMISES AND EQUIPMENT - Additi

PREMISES AND EQUIPMENT - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Depreciation	$ 3,122,000	$ 3,127,000	$ 3,275,000
Depreciation expense on leased assets	607,000	607,000	607,000
Gladstone Property [Member]
Depreciation	$ 141,000	$ 141,000	$ 141,000

PREMISES AND EQUIPMENT (Sched_2

PREMISES AND EQUIPMENT (Schedule of Future Minimum Lease Payments Under Finance Lease Right-of-Use Asset) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Abstract]
2020	$ 1,195
2021	1,233
2022	1,391
2023	1,456
2024	1,456
Thereafter	2,283
Total minimum lease payments	9,014
Less: amount representing interest	1,416
Present value of net minimum lease payments	$ 7,598	$ 8,362

OTHER REAL ESTATE OWNED - Addit

OTHER REAL ESTATE OWNED - Additional Information (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Other Real Estate [Abstract]
Other real estate owned	$ 50,000	$ 0

OTHER REAL ESTATE OWNED (Schedu

OTHER REAL ESTATE OWNED (Schedule of Activity in Other Real Estate Owned, Excluding Valuation Allowance) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Other Real Estate [Abstract]
Balance, beginning of year		$ 2,090
OREO properties added	$ 386
Sales during year	(336)	$ (2,090)
Balance, end of year	$ 50

OTHER REAL ESTATE OWNED (Sche_2

OTHER REAL ESTATE OWNED (Schedule of Activity in Valuation Allowance) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Real Estate [Abstract]
Balance, beginning of year
Additions charged to expense		232
Direct writedowns		(232)
Balance, end of year

OTHER REAL ESTATE OWNED (Sche_3

OTHER REAL ESTATE OWNED (Schedule of Expenses Related to Other Real Estate Owned) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Real Estate [Abstract]
Net loss/(gain) on sales		$ 58
Provision for unrealized losses		232
Operating expenses, net of rental income	$ 9	190	$ 117
Total	$ 9	$ 480	$ 117

DEPOSITS - Additional Informati

DEPOSITS - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deposits [Abstract]
Time deposits over $250,000	$ 223,700	$ 160,300

DEPOSITS (Schedule of Details o

DEPOSITS (Schedule of Details of Total Deposits) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deposits:
Noninterest-bearing demand deposits	$ 529,281	$ 463,926
Interest-bearing checking	1,510,363	1,247,305
Savings	112,652	114,674
Money market	1,196,313	1,243,369
Certificates of deposit - retail	633,763	510,724
Certificates of deposit - listing service	47,430	79,195
Interest-bearing demand - Brokered	180,000	180,000
Certificates of deposit - Brokered	33,709	56,147
Total deposits	$ 4,243,511	$ 3,895,340
%
Noninterest-bearing demand deposits	12.47%	11.91%
Interest-bearing checking	35.59%	32.02%
Savings	2.66%	2.94%
Money market	28.19%	31.92%
Certificates of deposit - retail	14.94%	13.12%
Certificates of deposit - listing service	1.12%	2.03%
Interest-bearing demand - Brokered	4.24%	4.62%
Certificates of deposit - Brokered	0.79%	1.44%
Total deposits	100.00%	100.00%

DEPOSITS (Scheduled Maturities

DEPOSITS (Scheduled Maturities of Time Deposits) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Scheduled maturities of time deposits
2020	$ 480,064
2021	120,344
2022	50,792
2023	8,422
2024	28,349
Over 5 Years	26,931
Total	$ 714,902

FEDERAL HOME LOAN BANK ADVANC_3

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Advances from Federal Home Loan Banks	$ 105,000,000	$ 108,000,000
FHLB interest rate	3.20%	3.17%
Advances with fixed maturity dates	$ 105,000,000	$ 108,000,000
Weighted average interest rate on fixed maturity advances	3.20%	3.17%
Short-term or overnight borrowings with FHLB	$ 128,100,000
Rate of overnight borrowings with FHLB	1.81%
FHLB advance	$ 15,000,000
FHLB advance rate	1.79%
Cash flow hedge, term	4 years
Unused commitments from FHLB	$ 1,300,000,000
Unused short-term or overnight borrowings from correspondent banks	22,000,000
Unused short-term or overnight borrowings from FRB	1,500,000,000
Federal Reserve Bank of New York [Member]
Debt Instrument [Line Items]
Short-term or overnight borrowings with FHLB	113,100,000	$ 0
Residential Mortgage [Member] | Fixed Rate Advances [Member]
Debt Instrument [Line Items]
Mortgages pledged as collateral for advances	347,500,000	496,100,000
Multifamily Mortgage [Member] | Fixed Rate Advances [Member]
Debt Instrument [Line Items]
Mortgages pledged as collateral for advances	773,100,000	$ 1,000,000,000
Securities [Member] | Fixed Rate Advances [Member]
Debt Instrument [Line Items]
Mortgages pledged as collateral for advances	$ 154,300,000

FEDERAL HOME LOAN BANK ADVANC_4

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS (Schedule of Principal Repayments and Maturities of Advances) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Federal Home Loan Bank Advances Maturities Summary
2021	$ 60,000
2022	20,000
2023	25,000
Total	$ 105,000	$ 108,000

FAIR VALUE - Additional Informa

FAIR VALUE - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value transfers between level 1 and level 2	$ 0
Loans Receivable [Member] | Property A [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Discount rate	15.00%
Age of appraisal	12 months

FAIR VALUE (Schedule of Assets

FAIR VALUE (Schedule of Assets Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Securities available for sale	$ 390,755	$ 377,936
Loans held for sale, at fair value	2,881	1,576
Recurring Basis [Member]
Loans held for sale, at fair value	2,881	1,576
Total	436,974	395,577
Derivatives	36,169	10,538
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Total	10,836	4,719
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Loans held for sale, at fair value	2,881	1,576
Total	426,138	390,858
Derivatives	36,169	10,538
Recurring Basis [Member] | Designated as Hedging Instrument [Member]
Derivatives	121	1,657
Derivatives	3,788	849
Recurring Basis [Member] | Designated as Hedging Instrument [Member] | Significant Other Observable Inputs (Level 2) [Member]
Derivatives	121	1,657
Derivatives	3,788	849
Recurring Basis [Member] | Not Designated as Hedging Instrument [Member]
Derivatives	32,381	9,689
Derivatives	32,381	9,689
Recurring Basis [Member] | Not Designated as Hedging Instrument [Member] | Significant Other Observable Inputs (Level 2) [Member]
Derivatives	32,381	9,689
Derivatives	32,381	9,689
U.S. Government-Sponsored Agencies [Member]
Securities available for sale	34,784	102,013
U.S. Government-Sponsored Agencies [Member] | Recurring Basis [Member]
Securities available for sale	34,784	102,013
U.S. Government-Sponsored Agencies [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	34,784	102,013
Mortgage-Backed Securities-Residential [Member]
Securities available for sale	338,904	251,362
Mortgage-Backed Securities-Residential [Member] | Recurring Basis [Member]
Securities available for sale	338,904	251,362
Mortgage-Backed Securities-Residential [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	338,904	251,362
SBA Pool Securities [Member]
Securities available for sale	2,784	3,839
SBA Pool Securities [Member] | Recurring Basis [Member]
Securities available for sale	2,784	3,839
SBA Pool Securities [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	2,784	3,839
State and Political Subdivisions [Member]
Securities available for sale	11,215	17,610
State and Political Subdivisions [Member] | Recurring Basis [Member]
Securities available for sale	11,215	17,610
State and Political Subdivisions [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	11,215	17,610
Corporate Bond [Member]
Securities available for sale	3,068	3,112
Corporate Bond [Member] | Recurring Basis [Member]
Securities available for sale	3,068	3,112
Corporate Bond [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	3,068	3,112
CRA Investment Fund [Member] | Recurring Basis [Member]
Securities available for sale	10,836	4,719
CRA Investment Fund [Member] | Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Securities available for sale	$ 10,836	$ 4,719

FAIR VALUE (Schedule of Residen

FAIR VALUE (Schedule of Residential Loans Held for Sale, at Fair Value) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Residential loans contractual balance	$ 2,839	$ 1,552
Fair value adjustment	42	24
Total fair value of residential loans held for sale	$ 2,881	$ 1,576

FAIR VALUE (Schedule of Asset_2

FAIR VALUE (Schedule of Assets Measured on a Non-Recurring Basis) (Details) - Investment Property [Member] - Non-Recurring Basis [Member] - Commercial Real Estate Portfolio Segment [Member] $ in Thousands	Dec. 31, 2019USD ($)
Impaired loans	$ 13,467
Significant Unobservable Inputs (Level 3) [Member]
Impaired loans	$ 13,467

FAIR VALUE (Schedule of Financi

FAIR VALUE (Schedule of Financial Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financial Assets:
Securities available for sale	$ 390,755	$ 377,936
FHLB and FRB stock	24,068	18,533
Loans held for sale, at fair value	2,881	1,576
Loans held for sale, at lower of cost or fair value	14,667	3,542
Accrued interest receivable	10,494	10,814
Financial Liabilities:
Short-term borrowings	128,100
Federal Home Loan Bank advances	105,000	108,000
Carrying Value [Member]
Financial Assets:
Cash and cash equivalents	208,185	160,773
Securities available for sale	390,755	377,936
CRA investment fund	10,836	4,719
FHLB and FRB stock	24,068	18,533
Loans held for sale, at fair value	2,881	1,576
Loans held for sale, at lower of cost or fair value	14,667	3,542
Loans, net of allowance for loan losses	4,350,461	3,889,427
Accrued interest receivable	10,494	10,814
Financial Liabilities:
Deposits	4,243,511	3,895,340
Short-term borrowings	128,100
Federal Home Loan Bank advances	105,000	108,000
Subordinated debt	83,417	83,193
Accrued interest payable	2,357	2,868
Fair value [Member]
Financial Assets:
Cash and cash equivalents	208,185	160,773
Securities available for sale	390,755	377,936
CRA investment fund	10,836	4,719
Loans held for sale, at fair value	2,881	1,576
Loans held for sale, at lower of cost or fair value	15,126	3,654
Loans, net of allowance for loan losses	4,268,481	3,852,004
Accrued interest receivable	10,494	10,814
Financial Liabilities:
Deposits	4,247,427	3,890,271
Short-term borrowings	128,100
Federal Home Loan Bank advances	108,354	108,950
Subordinated debt	86,536	82,207
Accrued interest payable	2,357	2,868
Fair value [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Financial Assets:
Cash and cash equivalents	208,185	160,773
CRA investment fund	10,836	4,719
Financial Liabilities:
Deposits	3,528,609	3,249,274
Accrued interest payable	392	331
Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Securities available for sale	390,755	377,936
Loans held for sale, at fair value	2,881	1,576
Loans held for sale, at lower of cost or fair value	15,126	3,654
Accrued interest receivable	1,361	1,875
Financial Liabilities:
Deposits	718,818	640,997
Short-term borrowings	128,100
Federal Home Loan Bank advances	108,354	108,950
Accrued interest payable	1,910	2,482
Fair value [Member] | Significant Unobservable Inputs (Level 3) [Member]
Financial Assets:
Loans, net of allowance for loan losses	4,268,481	3,852,004
Accrued interest receivable	9,133	8,939
Financial Liabilities:
Subordinated debt	86,536	82,207
Accrued interest payable	55	55
Designated as Hedging Instrument [Member] | Carrying Value [Member]
Financial Assets:
Derivatives	121	1,657
Financial Liabilities:
Derivatives	3,788	849
Designated as Hedging Instrument [Member] | Fair value [Member]
Financial Assets:
Derivatives	121	1,657
Financial Liabilities:
Derivatives	3,788	849
Designated as Hedging Instrument [Member] | Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Derivatives	121	1,657
Financial Liabilities:
Derivatives	3,788	849
Not Designated as Hedging Instrument [Member] | Carrying Value [Member]
Financial Assets:
Derivatives	32,381	9,689
Financial Liabilities:
Derivatives	32,381	9,689
Not Designated as Hedging Instrument [Member] | Fair value [Member]
Financial Assets:
Derivatives	32,381	9,689
Financial Liabilities:
Derivatives	32,381	9,689
Not Designated as Hedging Instrument [Member] | Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Derivatives	32,381	9,689
Financial Liabilities:
Derivatives	$ 32,381	$ 9,689

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Schedule of Noninterest Income) (Details) - USD ($)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Service charges on deposits
Overdraft fees		$ 662,000	$ 726,000	$ 715,000
Interchange income		1,238,000	1,251,000	1,164,000
Other		1,588,000	1,525,000	1,360,000
Wealth management fees		37,508,000	32,356,000	22,273,000
Investment brokerage fees		855,000	889,000	910,000
(Losses)/gains on sales of OREO		0	(58,000)	0
Other	[1]	12,845,000	7,504,000	8,205,000
Total other income		$ 54,696,000	$ 44,193,000	$ 34,627,000
[1]	All of the other category is outside the scope of ASC 606.

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS (Schedule of Noninterest Income by Operating Segment) (Details) - USD ($)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Service charges on deposits
Overdraft fees		$ 662,000	$ 726,000	$ 715,000
Interchange income		1,238,000	1,251,000	1,164,000
Other		1,588,000	1,525,000	1,360,000
Wealth management fees		37,508,000	32,356,000	22,273,000
Investment brokerage fees		855,000	889,000	910,000
Gains/(losses) on sales of OREO		0	(58,000)	0
Other	[1]	12,845,000	7,504,000	8,205,000
Total other income		54,696,000	44,193,000	34,627,000
Banking [Member]
Service charges on deposits
Overdraft fees		662,000	726,000	715,000
Interchange income		1,238,000	1,251,000	1,164,000
Other		1,588,000	1,525,000	1,360,000
Wealth management fees		0	0	0
Investment brokerage fees		0	0	0
Gains/(losses) on sales of OREO		0	(58,000)	0
Other	[1]	11,511,000	6,569,000	7,704,000
Total other income		14,999,000	10,013,000	10,943,000
Wealth Management [Member]
Service charges on deposits
Overdraft fees		0	0	0
Interchange income		0	0	0
Other		0	0	0
Wealth management fees		37,508,000	32,356,000	22,273,000
Investment brokerage fees		855,000	889,000	910,000
Gains/(losses) on sales of OREO		0	0	0
Other	[1]	1,334,000	935,000	501,000
Total other income		$ 39,697,000	$ 34,180,000	$ 23,684,000
[1]	All of the other category is outside the scope of ASC 606.

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interchange income	$ 1,238,000	$ 1,251,000	$ 1,164,000
Loss on sale of OREO	0	(58,000)	0
Cardholder Rewards [Member]
Interchange income	$ 138,000	$ 134,000	$ 129,000

OTHER OPERATING EXPENSES (Sched

OTHER OPERATING EXPENSES (Schedule of Components of Other Operating Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other operating expenses
Professional and legal fees	$ 4,506	$ 4,668	$ 4,486
Telephone	1,361	1,077	998
Advertising	1,363	1,340	1,108
Provision for ORE losses		232
Amortization of intangible assets	1,043	1,187	321
Other operating expenses	11,434	10,840	10,388
Total other operating expenses	$ 19,707	$ 19,344	$ 17,301

INCOME TAXES (Schedule of Incom

INCOME TAXES (Schedule of Income Tax Expense Included in Consolidated Financial Statements) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Federal:
Current (benefit)/expense									$ 5,647	$ (7,046)	$ 1,559
Deferred expense									6,087	16,908	13,922
State:
Current expense									3,028	3,554	2,133
Deferred expense									3,926	134	196
Total income tax expense	$ 5,555	$ 5,216	$ 3,421	$ 4,496	$ 2,887	$ 3,617	$ 3,832	$ 3,214	$ 18,688	$ 13,550	$ 17,810

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Income tax rate	21.00%	21.00%	35.00%
Unrecognized tax benefits	$ 0	$ 0
Federal tax net operating losses carry forward	$ 45,000,000
Company effective income tax rate	28.30%	23.50%
Reduction in income taxes	$ 538,000
Effective income tax rate surtax	2.50%
Effective income tax rate surtax in 2019	2.50%
Minimum net income for surtax applicability	$ 1,000,000
Effective income tax rate surtax in 2020	1.50%
Effective income tax rate surtax in 2021	1.50%

INCOME TAXES (Schedule of Total

INCOME TAXES (Schedule of Total Income Tax Expense Differed from Amounts Computed by Applying U.S. Federal Income Tax Rate to Income Before Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Computed “expected” tax expense									$ 13,886	$ 12,121	$ 19,008
(Decrease)/increase in taxes resulting from:
Tax-exempt income									(431)	(402)	(584)
State income taxes, net of Federal benefit									2,540	2,942	1,514
Impact of state tax reform, net of Federal benefit									2,954
Bank owned life insurance income									(277)	(290)	(475)
Life insurance expense									234	148	479
Gain on death benefit										(630)
Interest disallowance									146	115	124
Meals and entertainment expense									40	25	76
Stock-based compensation									(46)	(481)	(982)
Impact of Federal tax reform											(1,648)
Other									(358)	2	298
Total income tax expense	$ 5,555	$ 5,216	$ 3,421	$ 4,496	$ 2,887	$ 3,617	$ 3,832	$ 3,214	$ 18,688	$ 13,550	$ 17,810

INCOME TAXES (Schedule of Tax E

INCOME TAXES (Schedule of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Allowance for loan losses	$ 11,369	$ 10,537
Tax net operating loss carryforward	6,163	7,046
Organization costs	13	13
Cash flow hedge	925
Unrealized loss on securities available for sale		969
Unrealized loss on equity security	43	79
Stock plan	2,874	1,534
Nonaccrual interest	74	31
Accrued compensation	2,956	189
Accrued expenses	1,402
Lease liabilities	3,234
Capital leases (2018)/Finance lease (2019)	768	1,051
Other	188
Total gross deferred tax assets	30,009	21,449
Deferred tax liabilities:
Lease financing	44,841	33,191
Cash flow hedge		265
Unrealized gain on securities available for sale	330
Deferred loan origination costs and fees	1,355	1,214
Deferred income	5,329	2,693
Amortization of intangible assets	239
Purchase accounting	908
Lease right-of-use asset	3,158
Other		115
Total gross deferred tax liabilities	56,160	37,478
Net deferred tax liability	$ (26,151)	$ (16,029)

BENEFIT PLANS - Additional Info

BENEFIT PLANS - Additional Information (Details) - 401(K) Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Company contribution percentage of compensation for each employee	2.00%	3.00%	3.00%
Contributions to the plan	$ 1.7	$ 2.2	$ 1.6

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant	1,500,256
Closing stock price of common stock	$ 30.90
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option term	10 years
Unrecognized compensation cost	$ 0
Total compensation cost	$ 0	$ 0	$ 6,000
Employee Stock Option [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Option term	10 years
Stock option vesting term	5 years
Restricted stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost	$ 13,000,000
Shares granted	223,396
Weighted average period over which unrecognized compensation is expected to be recognized (in years)	1 month 2 days
Total compensation cost	$ 5,900,000	$ 4,600,000	$ 3,500,000
Restricted stock [Member] | Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option vesting term	3 years
Restricted stock [Member] | Tranche Two [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option vesting term	5 years
Performance Shares [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted	47,770
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost	$ 9,700,000
Weighted average period over which unrecognized compensation is expected to be recognized (in years)	1 year 1 month 17 days

STOCK-BASED COMPENSATION (Sched

STOCK-BASED COMPENSATION (Schedule of Changes in Options Outstanding) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares
Number of Options
Balance | shares	91,310
Exercised | shares	(18,660)
Expired | shares	(930)
Forfeited | shares	(300)
Balance | shares	71,420
Vested and expected to vest | shares	71,420
Exercisable | shares	71,420
Weighted Average Exercise Price
Balance | $ / shares	$ 13.63
Exercised | $ / shares	13.50
Expired | $ / shares	20.73
Forfeited | $ / shares	12.98
Balance | $ / shares	13.57
Vested and expected to vest | $ / shares	13.57
Exercisable | $ / shares	$ 13.57
Weighted Average Remaining Contractual Term
Balance	2 years 1 month 6 days
Vested and expected to vest	2 years 1 month 6 days
Exercisable	2 years 1 month 6 days
Aggregate Intrinsic Value
Balance | $	$ 1,238
Vested and expected to vest | $	1,238
Exercisable | $	$ 1,238

STOCK-BASED COMPENSATION (Sch_2

STOCK-BASED COMPENSATION (Schedule of Changes in Restricted Common Shares) (Details)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Performance Shares [Member]
Number of Shares
Balance at Beginning | shares	42,998
Granted | shares	47,770
Balance at end | shares	90,768
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 35.33
Granted | $ / shares	26.34
Balance at end | $ / shares	$ 30.60
Restricted stock [Member]
Number of Shares
Balance at Beginning | shares	366,541
Granted | shares	223,396
Vested | shares	(153,063)
Forfeited | shares	(4,146)
Balance at end | shares	432,728
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 30.64
Granted | $ / shares	26.51
Vested | $ / shares	27.39
Forfeited | $ / shares	31.53
Balance at end | $ / shares	$ 29.65

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Commitments to Extend Credit [Member]
Commitment And Contingencies [Line Items]
Commitments to extend credit	$ 673.8	$ 684.2
Standby Letters of Credit [Member]
Commitment And Contingencies [Line Items]
Commitments to extend credit	20.3	$ 12.7
SBIC [Member]
Commitment And Contingencies [Line Items]
Unfunded commitment for investment	$ 1.8

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Jan. 01, 2019
Lessee Lease Description [Line Items]
Operating lease right-of-use assets	$ 12,132,000	$ 7,900,000
Operating lease liabilities	$ 12,423,000	$ 8,200,000
Weighted average discount rate	3.05%
Weighted average lease term	6 years 3 months 29 days
Operating lease costs	$ 2,800,000
Variable lease costs	$ 329,000
Minimum [Member]
Lessee Lease Description [Line Items]
Remaining lease term	5 months
Maximum [Member]
Lessee Lease Description [Line Items]
Remaining lease term	17 years

LEASES (Schedule of Operating L

LEASES (Schedule of Operating Lease Liabilities by Contractual Maturity) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
2020	$ 2,859
2021	2,408
2022	1,886
2023	1,597
2024	1,192
Thereafter	2,638
Total lease payments	12,580
Less: imputed interest	157
Total present value of lease payments	$ 12,423	$ 8,200

LEASES (Summary of Supplemental

LEASES (Summary of Supplemental Cash Flow Information Related to Direct Finance and Operating Leases) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Right-of-use asset obtained in exchange for lease obligation	$ 7,012
Operating cash flows from operating leases	2,623
Operating cash flows from direct finance leases	382
Financing cash flows from direct finance leases	$ 748

REGULATORY CAPITAL (Schedule of

REGULATORY CAPITAL (Schedule of Regulatory Capital Amounts and Ratios) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
The Bank [Member]
Total Capital
Total Capital (to risk-weighted assets)	$ 571,509	$ 543,008
Total Capital (to risk-weighted assets) ratio	13.76%	14.59%
Minimum Capital required to be well-capitalized	$ 415,487	$ 372,186
Minimum Capital required to be well-capitalized, ratio	10.00%	10.00%
Minimum amount of capital for adequacy purposes	$ 332,389	$ 297,749
Minimum amount of capital for adequacy purposes, ratio	8.00%	8.00%
Tier I Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 527,833	$ 504,504
Tier 1 Capital (to risk-weighted assets) ratio	12.70%	13.56%
Minimum Tier 1 Capital required to be well-capitalized	$ 332,389	$ 297,749
Minimum Tier 1 Capital required to be well-capitalized, ratio	8.00%	8.00%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 249,292	$ 223,311
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6.00%	6.00%
Common equity tier I
Common equity tier 1 (to risk-weighted assets)	$ 527,832	$ 504,502
Common equity tier I (to risk-weighted assets) ratio	12.70%	13.56%
Minimum Common equity tier I required to be well-capitalized	$ 270,066	$ 241,921
Minimum common equity tier I required to be well-capitalized, ratio	6.50%	6.50%
Minimum amount of common equity tier I for adequacy purposes	$ 186,969	$ 167,484
Minimum amount of common equity tier I for adequacy purposes, ratio	4.50%	4.50%
Tier I Leverage Capital (to average assets)
Tier 1 Capital(to average assets)	$ 527,833	$ 504,504
Tier 1 Capital (to average assets) ratio	10.63%	11.32%
Minimum Tier 1 Capital required to be well-capitalized	$ 248,252	$ 222,912
Minimum Tier 1 Capital required to be well-capitalized, ratio	5.00%	5.00%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 198,602	$ 178,330
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.00%	4.00%
The Bank [Member] | Conservation Buffer [Member]
Total Capital
Minimum amount of capital for adequacy purposes	$ 436,261	$ 367,533
Minimum amount of capital for adequacy purposes, ratio	10.50%	9.88%
Tier I Capital (to risk-weighted assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 353,164	$ 293,096
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	8.50%	7.88%
Common equity tier I
Minimum amount of common equity tier I for adequacy purposes	$ 290,841	$ 237,268
Minimum amount of common equity tier I for adequacy purposes, ratio	7.00%	6.38%
Tier I Leverage Capital (to average assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 198,602	$ 178,330
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.00%	4.00%
Parent Company [Member]
Total Capital
Total Capital (to risk-weighted assets)	$ 590,614	$ 559,937
Total Capital (to risk-weighted assets) ratio	14.20%	15.03%
Minimum amount of capital for adequacy purposes	$ 332,783	$ 298,047
Minimum amount of capital for adequacy purposes, ratio	8.00%	8.00%
Tier I Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 463,521	$ 438,240
Tier 1 Capital (to risk-weighted assets) ratio	11.14%	11.76%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 249,587	$ 223,535
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6.00%	6.00%
Common equity tier I
Common equity tier 1 (to risk-weighted assets)	$ 463,520	$ 438,238
Common equity tier I (to risk-weighted assets) ratio	11.14%	11.76%
Minimum amount of common equity tier I for adequacy purposes	$ 187,190	$ 167,652
Minimum amount of common equity tier I for adequacy purposes, ratio	4.50%	4.50%
Tier I Leverage Capital (to average assets)
Tier 1 Capital(to average assets)	$ 463,521	$ 438,240
Tier 1 Capital (to average assets) ratio	9.33%	9.82%
Minimum amount of Tier 1 Capital for adequacy purposes	$ 198,792	$ 178,473
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.00%	4.00%
Parent Company [Member] | Conservation Buffer [Member]
Total Capital
Minimum amount of capital for adequacy purposes	$ 436,778	$ 367,902
Minimum amount of capital for adequacy purposes, ratio	10.50%	9.88%
Tier I Capital (to risk-weighted assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 353,582	$ 293,390
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	8.50%	7.88%
Common equity tier I
Minimum amount of common equity tier I for adequacy purposes	$ 291,185	$ 237,506
Minimum amount of common equity tier I for adequacy purposes, ratio	7.00%	6.38%
Tier I Leverage Capital (to average assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 198,792	$ 178,473
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4.00%	4.00%

REGULATORY CAPITAL - Additional

REGULATORY CAPITAL - Additional Information (Details) - Conservation Buffer [Member]	Jan. 01, 2019	Jan. 01, 2018	Jan. 01, 2017	Jan. 01, 2016
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Increase in capital conservation buffer		0.625%	0.625%	0.625%
Minimum [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Minimum amount of capital for adequacy purposes, ratio	2.50%

DERIVATIVES - Additional Inform

DERIVATIVES - Additional Information (Details)	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)N	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)N	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Derivative [Line Items]
Net interest income	$ 30,914,000	$ 30,085,000	$ 29,268,000	$ 30,007,000	$ 29,385,000	$ 28,142,000	$ 29,243,000	$ 28,393,000	$ 120,274,000	$ 115,163,000	$ 111,141,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 245,000,000				$ 230,000,000				245,000,000	230,000,000
Net interest income									953,000	390,000
Unrealized after-tax gain of accumulated other comprehensive income (loss)			$ 189,000					$ 220,000
Interest income									$ 223,000	$ 124,000
Derivative number of instruments terminated | N			4					2

DERIVATIVES - (Schedule of Info

DERIVATIVES - (Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)N	Dec. 31, 2018USD ($)N
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 245,000,000	$ 230,000,000
Fair Value	$ (3,667,000)	$ 808,000
Weighted average pay rate	2.05%	2.04%
Weighted average receive rate	1.83%	2.33%
Weighted average maturity	2 years 5 months 12 days	2 years 7 months 24 days
Unrealized (loss)/gain, net	$ (3,667,000)	$ 808,000
Number of contracts | N	12	11
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 793,875,000	$ 558,690,000
Fair Value	$ 32,381,000	$ 9,689,000
Weighted average pay rate	4.12%	4.44%
Weighted average receive rate	3.54%	4.24%
Weighted average maturity	7 years 3 months 18 days	7 years 1 month 6 days
Number of contracts | N	91	67

DERIVATIVES - (Schedule of Net

DERIVATIVES - (Schedule of Net Gains/(Losses) Recorded in Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Amount of Gain/(Loss) Recognized In OCI (Effective Portion)	$ (3,162)	$ (341)	$ 1,265
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Amount of Gain/(Loss) Recognized In OCI (Effective Portion)	(4,252)	(328)
Amount of Gain/(Loss) Reclassified From OCI to Interest Expense	$ (223)	$ (124)

DERIVATIVES - (Schedule of Cash

DERIVATIVES - (Schedule of Cash Flow Hedges Included in Financial Statements) (Details) - Designated as Hedging Instrument [Member] - Interest Rate Swap [Member] - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Notional Amount	$ 245,000,000	$ 230,000,000
Fair Value	(3,667,000)	808,000
Other Assets [Member]
Derivative [Line Items]
Notional Amount	70,000,000	130,000,000
Fair Value	121,000	1,657,000
Other Liabilities [Member]
Derivative [Line Items]
Notional Amount	175,000,000	100,000,000
Fair Value	$ (3,788,000)	$ (849,000)

SHAREHOLDERS EQUITY - Additiona

SHAREHOLDERS EQUITY - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jul. 25, 2019
Class Of Stock [Line Items]
Stock repurchase program, number of shares authorized to be repurchased, percentage				5.00%
Stock repurchase program, number of shares authorized to be repurchased				960,000
Shares repurchased	739,778
Shares repurchased, average price per share	$ 28.39
Shares repurchased during period, value	$ 21,002,000
Quarterly cash payment that may be made under Dividend Reinvestment Program	$ 200,000
Percent of fair market value which shares may be purchased at under the DRIP		97.00%
Fair market value discount		3.00%
Common stock, shares subscribed but unissued		542,302
Purchase of shares (dividend reinvestment program), shares		778,407
Sale of shares (dividend reinvestment program)		$ 16,677,000	$ 36,588,000
Plan [Member]
Class Of Stock [Line Items]
Purchase of shares (dividend reinvestment program), shares	129,738
Sales of shares (Dividend Reinvestment Program), shares		1,320,709

BUSINESS SEGMENTS - Additional

BUSINESS SEGMENTS - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019segment
Segment Reporting [Abstract]
Number of Operating Segments	2

BUSINESS SEGMENTS - Schedule of

BUSINESS SEGMENTS - Schedule of Income and Total Assets for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net interest income	$ 30,914	$ 30,085	$ 29,268	$ 30,007	$ 29,385	$ 28,142	$ 29,243	$ 28,393	$ 120,274	$ 115,163	$ 111,141
Noninterest income									54,696	44,193	34,627
Total income									174,970	159,356	145,768
Provision for loan losses	1,950	800	1,150	100	1,500	500	300	1,250	4,000	3,550	5,850
Compensation and benefits									70,129	62,802	53,956
Premises and equipment expense									14,735	13,497	11,988
FDIC expense									277	2,443	2,366
Other noninterest expense									19,707	19,344	17,301
Total noninterest expense									108,848	101,636	91,461
Income before income tax expense	17,788	17,442	14,971	15,921	13,616	14,341	15,742	14,021	66,122	57,720	54,307
Income tax expense	5,555	5,216	3,421	4,496	2,887	3,617	3,832	3,214	18,688	13,550	17,810
Net income	12,233	$ 12,226	$ 11,550	$ 11,425	10,729	$ 10,724	$ 11,910	$ 10,807	47,434	44,170	36,497
Total assets at period end	5,182,879				4,617,858				5,182,879	4,617,858	4,260,547
Banking [Member]
Net interest income									114,983	110,001	105,353
Noninterest income									14,999	10,013	10,943
Total income									129,982	120,014	116,296
Provision for loan losses									4,000	3,550	5,850
Compensation and benefits									48,925	44,875	42,917
Premises and equipment expense									12,533	11,747	10,682
FDIC expense									277	2,443	2,366
Other noninterest expense									10,932	11,313	9,683
Total noninterest expense									76,667	73,928	71,498
Income before income tax expense									53,315	46,086	44,798
Income tax expense									15,069	10,819	14,691
Net income									38,246	35,267	30,107
Total assets at period end	5,095,744				4,547,179				5,095,744	4,547,179	4,202,957
Wealth Management [Member]
Net interest income									5,291	5,162	5,788
Noninterest income									39,697	34,180	23,684
Total income									44,988	39,342	29,472
Provision for loan losses									0	0	0
Compensation and benefits									21,204	17,927	11,039
Premises and equipment expense									2,202	1,750	1,306
FDIC expense									0	0	0
Other noninterest expense									8,775	8,031	7,618
Total noninterest expense									32,181	27,708	19,963
Income before income tax expense									12,807	11,634	9,509
Income tax expense									3,619	2,731	3,119
Net income									9,188	8,903	6,390
Total assets at period end	$ 87,135				$ 70,679				$ 87,135	$ 70,679	$ 57,590

SUBORDINATED DEBT - Additional

SUBORDINATED DEBT - Additional Information (Details) - Subordinated Debt [Member] - USD ($)	1 Months Ended
	Dec. 31, 2017	Jun. 30, 2016
Debt Instrument [Line Items]
Principal amount	$ 35,000,000	$ 50,000,000
Non-callable term	5 years	5 years
Notes maturity date	Dec. 15, 2027	Jun. 30, 2026
Fixed interest rate	4.75%	6.00%
LIBOR spread	2.54%	4.85%
Debt issuance costs	$ 875,000	$ 1,300,000
Parent Company [Member]
Debt Instrument [Line Items]
Net proceeds used to contribute to the Bank	29,100,000	40,000,000
Proceeds from debt retained by parent	$ 5,000,000	$ 10,000,000

ACQUISITIONS - Additional Infor

ACQUISITIONS - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019USD ($)Acquisition	Dec. 31, 2018USD ($)Acquisition	Dec. 31, 2017USD ($)Acquisition	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Number of businesses acquired | Acquisition	1	1	2
Fair value of total consideration transferred	$ 5,000,000	$ 4,300,000	$ 3,600,000
Goodwill and identifiable intangible assets	5,800,000	7,300,000	15,500,000
Liabilities Assumed	0	0	0
Goodwill	30,208,000	24,417,000	17,107,000	$ 1,573,000
Goodwill, Impairment Loss	0
Amortization of intangible assets	1,043,000	1,187,000	$ 321,000
Murphy Capital Management [Member]
Business Acquisition [Line Items]
Expense Include impairment expense		$ 405,000
Wealth Management [Member]
Business Acquisition [Line Items]
Goodwill	29,600,000
Banking [Member]
Business Acquisition [Line Items]
Goodwill	$ 563,000

ACQUISITIONS (Schedule of Rollf

ACQUISITIONS (Schedule of Rollforward of Goodwill and Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill
Beginning balance	$ 24,417	$ 17,107	$ 1,573
Acquisitions	5,791	7,310	15,534
Ending balance	30,208	24,417	17,107
Identifiable Intangible Assets
Beginning balance	7,933	6,680	1,535
Acquisitions	3,490	2,440	5,466
Amortization of intangible assets	1,043	1,187	321
Ending balance	$ 10,380	$ 7,933	$ 6,680

ACQUISITIONS - (Schedule of Est

ACQUISITIONS - (Schedule of Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2019USD ($)
Business Combinations [Abstract]
2020	$ 1,287
2021	1,283
2022	1,127
2023	878
2024	$ 646

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Schedule of Accumulated Other Comprehensive Income/(Loss) Balances, Net of Tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 469,013	$ 403,678	$ 324,210
Total other comprehensive income/(loss)	850	(1,260)	534
Balance	503,652	469,013	403,678
Net Unrealized Holding Gain/(Loss) on Securities Available for Sale, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(3,006)	(2,214)	(1,091)
Other Comprehensive Income/(Loss) Before Reclassifications	4,012	(1,137)	(731)
Amount Reclassified From Accumulated Other Comprehensive Income/(Loss)		218
Total other comprehensive income/(loss)	4,012	(919)	(731)
Balance	1,006	(3,006)	(2,214)
Net Unrealized Holding Gain/(Loss) on Securities Available for Sale, Net of Tax [Member] | ASU 2018-01 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative Effect Adjustment for Adoption		127
Net Unrealized Holding Gain/(Loss) on Securities Available for Sale, Net of Tax [Member] | ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative Effect Adjustment for Adoption			(392)
Gain/(Losses) on Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	661	1,002	(440)
Other Comprehensive Income/(Loss) Before Reclassifications	(3,006)	(247)	1,265
Amount Reclassified From Accumulated Other Comprehensive Income/(Loss)	(156)	(94)
Total other comprehensive income/(loss)	(3,162)	(341)	1,265
Balance	(2,501)	661	1,002
Gain/(Losses) on Cash Flow Hedge [Member] | ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative Effect Adjustment for Adoption			177
Accumulated Other Comprehensive Loss, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(2,345)	(1,212)	(1,531)
Other Comprehensive Income/(Loss) Before Reclassifications	1,006	(1,384)	534
Amount Reclassified From Accumulated Other Comprehensive Income/(Loss)	(156)	124
Total other comprehensive income/(loss)	850	(1,260)	534
Balance	$ (1,495)	(2,345)	(1,212)
Accumulated Other Comprehensive Loss, Net of Tax [Member] | ASU 2018-01 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative Effect Adjustment for Adoption		$ 127
Accumulated Other Comprehensive Loss, Net of Tax [Member] | ASU 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative Effect Adjustment for Adoption			$ (215)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME(LOSS) (Schedule of Reclassifications Out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ (14,642)	$ (15,863)	$ (15,335)	$ (14,556)	$ (13,396)	$ (12,021)	$ (10,431)	$ (8,675)	$ (60,396)	$ (44,523)	$ (27,586)
Securities losses, net	(45)	34	69	59	46	(325)	(36)	(78)	117	(393)
Income tax expense (benefit)	(5,555)	(5,216)	(3,421)	(4,496)	(2,887)	(3,617)	(3,832)	(3,214)	(18,688)	(13,550)	(17,810)
Net income	$ 12,233	$ 12,226	$ 11,550	$ 11,425	$ 10,729	$ 10,724	$ 11,910	$ 10,807	47,434	44,170	$ 36,497
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Unrealized Losses on Securities Available for Sale [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Securities losses, net										288
Income tax expense (benefit)										(70)
Net income										218
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Unrealized Gains on Cash Flow Hedge Derivatives [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense									(223)	(124)
Income tax expense (benefit)									67	30
Net income									$ (156)	$ (94)

CONDENSED FINANCIAL STATEMENT_3

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF CONDITION) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
ASSETS
Cash	$ 6,591	$ 5,914
Interest-earning deposits	201,492	154,758
Total cash and cash equivalents	208,185	160,773
Other assets	45,643	45,378
Total assets	5,182,879	4,617,858	$ 4,260,547
LIABILITIES
Subordinated debt	83,417	83,193
Other liabilities	65,076	37,921
Total liabilities	4,679,227	4,148,845
SHAREHOLDERS’ EQUITY
Common stock	16,733	16,459
Surplus	319,375	309,088
Treasury stock	(29,990)	(8,988)
Retained earnings	199,029	154,799
Accumulated other comprehensive loss	(1,495)	(2,345)
Total shareholders’ equity	503,652	469,013	$ 403,678	$ 324,210
Total liabilities and shareholders’ equity	5,182,879	4,617,858
Parent Company [Member]
ASSETS
Cash	13,931	12,971
Interest-earning deposits	523	517
Total cash and cash equivalents	14,454	13,488
Investment in subsidiary	567,964	535,277
Other assets	4,920	3,734
Total assets	587,338	552,499
LIABILITIES
Subordinated debt	83,417	83,193
Other liabilities	269	293
Total liabilities	83,686	83,486
SHAREHOLDERS’ EQUITY
Common stock	16,733	16,459
Surplus	319,375	309,088
Treasury stock	(29,990)	(8,988)
Retained earnings	199,029	154,799
Accumulated other comprehensive loss	(1,495)	(2,345)
Total shareholders’ equity	503,652	469,013
Total liabilities and shareholders’ equity	$ 587,338	$ 552,499

CONDENSED FINANCIAL STATEMENT_4

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF INCOME) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income
Other income									$ 54,696	$ 44,193	$ 34,627
Expenses
Interest expense	$ 14,642	$ 15,863	$ 15,335	$ 14,556	$ 13,396	$ 12,021	$ 10,431	$ 8,675	60,396	44,523	27,586
Other expenses									19,707	19,344	17,301
Total expenses	26,701	26,259	26,173	25,715	25,524	24,284	24,941	23,337
Income/(loss) before income tax benefit and equity in undistributed earnings of Bank	17,788	17,442	14,971	15,921	13,616	14,341	15,742	14,021	66,122	57,720	54,307
Income tax benefit	5,555	5,216	3,421	4,496	2,887	3,617	3,832	3,214	18,688	13,550	17,810
Net income	$ 12,233	$ 12,226	$ 11,550	$ 11,425	$ 10,729	$ 10,724	$ 11,910	$ 10,807	47,434	44,170	36,497
Total comprehensive income									48,284	42,910	37,031
Parent Company [Member]
Income
Dividend from Bank									31,000
Other income									6	4	2
Total income									31,006	4	2
Expenses
Interest expense									4,895	4,887	3,206
Other expenses									721	480	554
Total expenses									5,616	5,367	3,760
Income/(loss) before income tax benefit and equity in undistributed earnings of Bank									25,390	(5,363)	(3,758)
Income tax benefit									(1,178)	(1,123)	(1,313)
Net income/(loss) before equity in undistributed earnings of Bank									26,568	(4,240)	(2,445)
Equity in undistributed earnings of Bank/(dividends in excess of earnings)									20,866	48,410	38,942
Net income									47,434	44,170	36,497
Other comprehensive income/(loss)									850	(1,260)	534
Total comprehensive income									$ 48,284	$ 42,910	$ 37,031

CONDENSED FINANCIAL STATEMENT_5

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (STATEMENTS OF CASH FLOWS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities:
Net income	$ 47,434	$ 44,170	$ 36,497
Amortization of subordinated debt costs	224	169	135
Increase in other assets	5,111	(8,485)	(9,977)
(Decrease)/increase in other liabilities	12,799	(929)	2,330
Net cash provided by operating activities	86,296	64,248	55,935
Investing activities:
Net cash used in investing activities	(486,965)	(297,707)	(435,514)
Financing activities:
Cash dividends paid on common stock	(3,865)	(3,712)	(3,548)
Exercise of stock options, net stock swaps	251	275	690
Proceeds from issuance of subordinated debt			34,125
Issuance of common shares (DRIP program)		16,677	36,588
Shares repurchase	(21,002)
Net cash provided by financing activities	448,081	280,785	330,335
Net increase/(decrease) in cash and cash equivalents	47,412	47,326	(49,244)
Cash and cash equivalents at beginning of year	160,773	113,447	162,691
Cash and cash equivalents at end of year	208,185	160,773	113,447
Parent Company [Member]
Operating activities:
Net income	47,434	44,170	36,497
Undistributed earnings of Bank	(20,866)	(48,410)	(38,942)
Amortization of subordinated debt costs	224	171	135
Increase in other assets	(1,186)	(1,183)	(1,248)
(Decrease)/increase in other liabilities	(24)	(256)	113
Net cash provided by operating activities	25,582	(5,508)	(3,445)
Investing activities:
Capital contribution to subsidiary		(9,322)	(60,177)
Net cash used in investing activities		(9,322)	(60,177)
Financing activities:
Cash dividends paid on common stock	(3,865)	(3,712)	(3,548)
Exercise of stock options, net stock swaps	251	275	690
Proceeds from issuance of subordinated debt			34,125
Issuance of common shares (DRIP program)		16,677	36,588
Shares repurchase	(21,002)
Net cash provided by financing activities	(24,616)	13,240	67,855
Net increase/(decrease) in cash and cash equivalents	966	(1,590)	4,233
Cash and cash equivalents at beginning of year	13,488	15,078	10,845
Cash and cash equivalents at end of year	$ 14,454	$ 13,488	$ 15,078

SUPPLEMENTAL DATA (unaudited)_2

SUPPLEMENTAL DATA (unaudited) (Schedule of Unaudited Quarterly Financial Data) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 45,556	$ 45,948	$ 44,603	$ 44,563	$ 42,781	$ 40,163	$ 39,674	$ 37,068	$ 180,670	$ 159,686	$ 138,727
Interest expense	14,642	15,863	15,335	14,556	13,396	12,021	10,431	8,675	60,396	44,523	27,586
Net interest income before provision for loan and lease losses	30,914	30,085	29,268	30,007	29,385	28,142	29,243	28,393	120,274	115,163	111,141
Provision for loan losses	1,950	800	1,150	100	1,500	500	300	1,250	4,000	3,550	5,850
Wealth management fee income	10,120	9,501	9,568	9,174	8,552	8,200	8,126	8,367	38,363	33,245	23,183
Securities gains/(losses), net	(45)	34	69	59	46	(325)	(36)	(78)	117	(393)
Other income	5,450	4,881	3,389	2,496	2,657	3,108	3,650	1,926
Operating expenses	26,701	26,259	26,173	25,715	25,524	24,284	24,941	23,337
Income before income tax expense	17,788	17,442	14,971	15,921	13,616	14,341	15,742	14,021	66,122	57,720	54,307
Income tax expense	5,555	5,216	3,421	4,496	2,887	3,617	3,832	3,214	18,688	13,550	17,810
Net income	$ 12,233	$ 12,226	$ 11,550	$ 11,425	$ 10,729	$ 10,724	$ 11,910	$ 10,807	$ 47,434	$ 44,170	$ 36,497
EARNINGS PER SHARE
Earnings per share-basic	$ 0.64	$ 0.63	$ 0.59	$ 0.59	$ 0.56	$ 0.56	$ 0.63	$ 0.58	$ 2.46	$ 2.33	$ 2.07
Earnings per share-diluted	$ 0.64	$ 0.63	$ 0.59	$ 0.58	$ 0.55	$ 0.56	$ 0.62	$ 0.57	$ 2.44	$ 2.31	$ 2.03