Peapack-Gladstone Financial (PGC) 10-K 12 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Mar. 01, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	PEAPACK-GLADSTONE FINANCIAL CORPORATION
Entity Central Index Key	0001050743
Document Type	10-K
Document Period End Date	Dec. 31, 2020
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			$ 338
Entity Common Stock, Shares Outstanding		18,878,890
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
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
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	Portions of the Company’s Definitive Proxy Statement for the Company’s 2021 Annual Meeting of Shareholders (the “2021 Proxy Statement”) are incorporated by reference into Part III. The Company expects to file the 2021 Proxy Statement within 120 days of December 31, 2020.

CONSOLIDATED STATEMENTS OF COND

CONSOLIDATED STATEMENTS OF CONDITION - USD ($)		Dec. 31, 2020	Dec. 31, 2019
ASSETS
Cash and due from banks		$ 10,629,000	$ 6,591,000
Federal funds sold		102,000	102,000
Interest-earning deposits		642,591,000	201,492,000
Total cash and cash equivalents		653,322,000	208,185,000
Securities available for sale		622,689,000	390,755,000
Equity security, at fair value		15,117,000	10,836,000
FHLB and FRB stock, at cost		13,709,000	24,068,000
Loans held for sale, at fair value		13,588,000	2,881,000
Loans held for sale, at lower of cost or fair value		18,520,000	14,667,000
Loans		4,372,437,000	4,394,137,000
Less: allowance for loan losses		67,309,000	43,676,000
Net loans		4,305,128,000	4,350,461,000
Premises and equipment		21,609,000	20,913,000
Other real estate owned		50,000	50,000
Accrued interest receivable		22,495,000	10,494,000
Bank owned life insurance		46,809,000	46,128,000
Goodwill		33,103,000	30,208,000
Other intangible assets		10,788,000	10,380,000
Finance lease right-of-use assets		4,330,000	5,078,000
Operating lease right-of-use assets		9,421,000	12,132,000
Other assets		99,764,000	45,643,000
Total assets		5,890,442,000	5,182,879,000
Deposits:
Noninterest-bearing demand deposits		833,500,000	529,281,000
Interest-bearing deposits:
Checking	[1]	1,849,254,000	1,510,363,000
Savings		130,731,000	112,652,000
Money market accounts		1,298,885,000	1,196,313,000
Certificates of deposit - retail		530,222,000	633,763,000
Certificates of deposit - listing service		32,128,000	47,430,000
Subtotal deposits		4,674,720,000	4,029,802,000
Interest-bearing demand – Brokered		110,000,000	180,000,000
Certificates of deposit - Brokered		33,764,000	33,709,000
Total deposits		4,818,484,000	4,243,511,000
Short-term borrowings		15,000,000	128,100,000
FHLB advances			105,000,000
Paycheck Protection Program Liquidity Facility		177,086,000
Finance lease liabilities		6,753,000	7,598,000
Operating lease liabilities		9,737,000	12,423,000
Subordinated debt, net		181,794,000	83,417,000
Deferred tax liabilities, net		32,978,000	26,151,000
Due to brokers, securities settlements			7,951,000
Accrued expenses and other liabilities		121,488,000	65,076,000
Total liabilities		5,363,320,000	4,679,227,000
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, 20,342,881 at December 31, 2020 and 20,074,766 at December 31, 2019; outstanding shares, 18,974,703 at December 31, 2020 and 18,926,810 at December 31, 2019)		16,958,000	16,733,000
Surplus		326,592,000	319,375,000
Treasury stock at cost (1,368,178 shares at December 31, 2020 and 1,147,956 shares at December 31, 2019)		36,477,000	29,990,000
Retained earnings		221,441,000	199,029,000
Accumulated other comprehensive loss		(1,392,000)	(1,495,000)
Total shareholders’ equity		527,122,000	503,652,000
Total liabilities and shareholders’ equity		$ 5,890,442,000	$ 5,182,879,000
[1]	Interest-bearing checking includes $652.5 million at December 31, 2020 and $423.8 million at December 31, 2019 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace programs

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF CONDITION (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
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	20,342,881	20,074,766
Common stock, shares outstanding	18,974,703	18,926,810
Treasury stock, shares	1,368,178	1,147,956

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
INTEREST INCOME
Loans, including fees	$ 155,790	$ 165,663	$ 148,576
Securities available for sale:
Taxable	8,782	10,228	8,903
Tax-exempt	210	322	401
Interest-earning deposits	968	4,457	1,806
Total interest income	165,750	180,670	159,686
INTEREST EXPENSE
Checking accounts	6,425	13,697	8,125
Savings and money market accounts	7,102	18,589	12,806
Certificates of deposit	11,476	14,210	9,938
Borrowed funds	3,976	3,941	3,606
Finance lease liability	343	382	418
Subordinated debt	4,992	4,895	4,887
Subtotal – interest expense	34,314	55,714	39,780
Interest-bearing demand - brokered	2,773	3,457	3,135
Interest on certificates of deposits – brokered	1,061	1,225	1,608
Total interest expense	38,148	60,396	44,523
Net interest income before provision for loan and lease losses	127,602	120,274	115,163
Provision for loan and lease losses	32,400	4,000	3,550
Net interest income after provision for loan and lease losses	95,202	116,274	111,613
OTHER INCOME
Wealth management fee income	40,861	38,363	33,245
Service charges and fees	3,155	3,488	3,502
Bank owned life insurance	1,273	1,321	1,381
Gain on loans held for sale at fair value (mortgage banking)	3,266	721	334
Gain/(loss) on loans held for sale at lower of cost or fair value	7,426	(10)	(4,392)
Fee income related to loan level, back-to-back swaps	1,620	5,799	3,844
Gain on sale of SBA loans	1,766	2,145	1,636
Other income	2,112	2,752	5,036
Securities gains/(losses), net	281	117	(393)
Total other income	61,760	54,696	44,193
OPERATING EXPENSES
Compensation and employee benefits	77,516	70,129	62,802
Premises and equipment	16,377	14,735	13,497
FDIC insurance expense	1,975	277	2,443
FHLB prepayment penalty	4,784
Valuation allowance loans held for sale	4,425		232
Other operating expenses	19,882	19,707	19,344
Total operating expenses	124,959	104,848	98,086
Income before income tax expense	32,003	66,122	57,720
Income tax expense	5,811	18,688	13,550
Net income	$ 26,192	$ 47,434	$ 44,170
EARNINGS PER SHARE
Basic	$ 1.39	$ 2.46	$ 2.33
Diluted	$ 1.37	$ 2.44	$ 2.31

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 26,192	$ 47,434	$ 44,170
Unrealized gains/(losses) on available for sale securities:
Unrealized gains/(losses) arising during the period	5,962	5,305	(1,462)
Less: Reclassification adjustment for net losses/(gains) included in net income			288
Before tax	5,962	5,305	(1,174)
Tax effect	(1,447)	(1,293)	255
Net of tax	4,515	4,012	(919)
Unrealized (loss)/gain on cash flow hedge
Unrealized holding (loss)	(5,860)	(4,252)	(328)
Reclassification adjustment for losses included in net income	(89)	(223)	(124)
Before tax	(5,949)	(4,475)	(452)
Tax effect	1,537	1,313	111
Net of tax	(4,412)	(3,162)	(341)
Total other comprehensive income/(loss)	103	850	(1,260)
Total comprehensive income	$ 26,295	$ 48,284	$ 42,910

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock [Member]	Common Stock [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Surplus [Member]	Surplus [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Treasury Stock [Member]	Treasury Stock [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Retained Earnings [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Other Comprehensive Income/(Loss) [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Balance at Dec. 31, 2017	$ 403,678		$ 403,678	$ 15,858	$ 15,858	$ 283,552	$ 283,552	$ (8,988)	$ (8,988)	$ 114,468		$ 114,341	$ (1,212)		$ (1,085)
Balance (ASU 2016-01 [Member]) at Dec. 31, 2017											$ (127)			$ 127
Net income	44,170									44,170
Other comprehensive income (loss)	(1,260)												(1,260)
Restricted stock units issued				76		(76)
Restricted stock 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		$ 469,674	16,459	$ 16,459	309,088	$ 309,088	(8,988)	$ (8,988)	154,799		$ 155,460	(2,345)		$ (2,345)
Balance (ASU 842 [Member]) at Dec. 31, 2018		$ 661									$ 661
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)
Net income	26,192									26,192
Other comprehensive income (loss)	103												103
Restricted stock units issued				142		(142)
Restricted stock units/awards repurchased on vesting to pay taxes	(741)			(37)		(704)
Amortization of restricted stock awards/units	6,875					6,875
Cash dividends declared on common stock	(3,780)									(3,780)
Common stock options exercised and related tax benefits	230			17		213
Issuance of shares for Employee Stock Purchase Plan	1,078			47		1,031
Shares repurchase	(6,487)							(6,487)
Issuance of common stock for acquisition				50		(50)
Exercise of warrants				6		(6)
Balance at Dec. 31, 2020	$ 527,122			$ 16,958		$ 326,592		$ (36,477)		$ 221,441			$ (1,392)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares outstanding	18,926,810
Common stock options exercised and related tax benefits, shares	19,860
Issuance of shares for Employee Stock Purchase Plan, shares	56,849	18,740	29,273
Share repurchase, share	(220,222)	(739,778)
Shares outstanding	18,974,703	18,926,810
Common Stock [Member]
Shares outstanding	18,926,810	19,337,662	18,619,634
Restricted stock units issued, shares	170,575	144,026	90,771
Restricted stock forfeitures, shares			(94,034)
Restricted stock units/awards repurchased on vesting to pay taxes, shares	(43,935)	(40,197)	(45,404)
Cash dividends declared on common stock, per share	$ 0.20	$ 0.20	$ 0.20
Common stock options exercised and related tax benefits, shares	19,860	18,660	23,148
Common stock options exercised, used to exercise, shares	2,149		2,374
Common stock options exercised, net of shares used to exercise, shares	17,711		20,774
Sales of shares (Dividend Reinvestment Program), shares			542,302
Issuance of shares for Employee Stock Purchase Plan, shares	56,849	18,740	29,273
Share repurchase, share	(220,222)	(739,778)
Issuance of shares for Employee's Savings and Investment plan, shares			34,449
Issuance of common stock for acquisition, shares	60,384	184,806	139,897
Exercise of warrants, shares	20,000	7,109
Exercise of warrants, used to exercise, shares	13,469	4,218
Exercise of warrants, net of shares used to exercise, shares	6,531	2,891
Shares outstanding	18,974,703	18,926,810	19,337,662

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities:
Net income		$ 26,192,000	$ 47,434,000	$ 44,170,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		3,127,000	3,122,000	3,127,000
Amortization of premium and accretion of discount on securities, net		5,009,000	1,782,000	1,399,000
Amortization of restricted stock		6,875,000	5,909,000	4,445,000
Amortization of intangible assets		1,287,000	1,043,000	1,187,000
Amortization of subordinated debt costs		224,000	224,000	169,000
Provision for loan and lease losses		32,400,000	4,000,000	3,550,000
Valuation allowance loans held for sale		4,425,000		232,000
Stock-based compensation and employee stock purchase plan expense		224,000	158,000	189,000
Deferred tax expense		8,225,000	10,013,000	17,042,000
Fair value adjustment for equity security		(281,000)	(117,000)	105,000
Loss on sale of securities, available for sale, net				288,000
Proceeds from sales of loans held for sale	[1]	187,704,000	73,709,000	44,483,000
Loans originated for sale	[1]	(194,735,000)	(75,588,000)	(44,075,000)
Gain on loans held for sale	[1]	(5,032,000)	(2,866,000)	(1,970,000)
(Gain)/loss on sale of loans held for sale at lower of cost or fair value		(7,426,000)	10,000	4,392,000
Loss on sale of other real estate owned				58,000
Gain on death benefit				(3,000,000)
Increase in cash surrender value of life insurance, net of split dollar liability		(681,000)	(775,000)	(767,000)
(Increase)/decrease in accrued interest receivable		(12,001,000)	328,000	(1,362,000)
(Increase)/decrease in other assets		(8,096,000)	5,111,000	(8,485,000)
(Decrease)/increase in accrued expenses and other liabilities		(10,720,000)	12,799,000	(929,000)
Net cash provided by operating activities		36,720,000	86,296,000	64,248,000
Investing activities:
Principal repayments, maturities and calls of securities available for sale		217,072,000	208,625,000	79,313,000
Redemptions for FHLB & FRB stock		39,462,000	34,427,000	87,602,000
Sales of securities available for sale		0	0	19,542,000
Purchase of securities available for sale		(448,053,000)	(209,971,000)	(156,893,000)
Purchase of equity securities		(4,000,000)	(6,000,000)
Purchase of FHLB & FRB stock		(29,103,000)	(39,962,000)	(92,758,000)
Proceeds from sale of loans held for sale at lower of cost or fair value		372,406,000	4,984,000	126,898,000
Net increase in loans, net of participations sold		(354,544,000)	(478,099,000)	(358,652,000)
Sales of other real estate owned			336,000	1,800,000
Purchases of premises and equipment		(3,075,000)	(1,705,000)	(1,059,000)
Purchase of wealth management company		(4,160,000)	(2,600,000)	(3,500,000)
Proceeds from death benefit			3,000,000
Net cash used in investing activities		(213,995,000)	(486,965,000)	(297,707,000)
Financing activities:
Net increase in deposits		574,973,000	348,171,000	196,986,000
Net (decrease)/increase in short-term borrowings		(113,100,000)	128,100,000
Proceeds from FHLB advances				105,000,000
Proceeds from Paycheck Protection Program Liquidity Facility		535,838,000
Repayments of Paycheck Protection Program Liquidity Facility		358,752,000
Repayments of FHLB advances		(105,000,000)	(3,000,000)	(34,898,000)
Dividends paid on common stock		(3,780,000)	(3,865,000)	(3,712,000)
Exercise of stock options, net stock swaps		230,000	251,000	275,000
Restricted stock repurchased on vesting to pay taxes		(741,000)	(1,106,000)	(1,540,000)
Proceeds from issuance of subordinated debt		98,153,000
Sale of common shares (Dividend Reinvestment Program)				16,677,000
Issuance of shares for employee’s savings and investment plan				1,039,000
Issuance of shares for employee stock purchase plan		1,078,000	532,000	958,000
Purchase of treasury shares		(6,487,000)	(21,002,000)
Net cash provided by financing activities		622,412,000	448,081,000	280,785,000
Net increase in cash and cash equivalents		445,137,000	47,412,000	47,326,000
Cash and cash equivalents at beginning of year		208,185,000	160,773,000	113,447,000
Cash and cash equivalents at end of year		653,322,000	208,185,000	160,773,000
Cash paid during the year for:
Interest		38,281,000	60,293,000	42,768,000
Income taxes, net		9,786,000	3,595,000	3,605,000
Transfer of loans to loans held for sale		367,477,000	15,064,000	137,317,000
Transfer of loans to other real estate owned			386,000
Security purchase settled in subsequent period			7,959,000
Acquisitions (Note 21)
Goodwill		2,895,000	5,791,000	7,310,000
Customer relationship & other intangibles		$ 1,695,000	3,441,000	$ 2,440,000
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, 2020
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 (“PCC”) (formed in the second quarter of 2017) • Murphy Capital Management (“MCM”) (acquired in the third quarter of 2017) • 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. • PGB Securities, Inc. (formed in the second quarter of 2020) 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, 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, 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 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” 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 $65.5 million and $51.9 million as of December 31, 2020 and 2019, respectively. SBA loans held for sale totaled $6.0 million and $4.6 million as of December 31, 2020 and 2019, 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, but do not diminish the borrower’s obligation. 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, asset quality information, 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. 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, charge-offs 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, 2020 and 2019, respectively, the multiple was 2.25 times for non-impaired special mention loans and 3.5 times for non-impaired substandard loans. 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. On March 27, 2020, the President of the United States signed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, which provides entities with optional temporary relief from certain accounting and financial reporting requirements under U.S. GAAP. The CARES Act allows financial institutions to suspend application of certain current TDR accounting guidance under Accounting Standards Codification (“ASC”) 310-40 for loan modifications related to the COVID-19 pandemic made between March 1, 2020 and the earlier of December 31, 2020 or 60 days after the end of the COVID-19 national emergency, provided certain criteria are met. This relief can be applied to loan modifications for borrowers that were not more than 30 days past due as of December 31, 2019 and to loan modifications that defer or delay the payment of principal or interest or change the interest rate on the loan. In April 2020, federal and state banking regulators issued the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus to provide further interpretation of when a borrower is experiencing financial difficulty, specifically indicating that if the modification is either short-term (e.g., six months) or mandated by a federal or state government in response to the COVID-19 pandemic, the borrower is not experiencing financial difficulty under ASC 310-40. The Company continues to prudently work with borrowers negatively impacted by the COVID-19 pandemic while managing credit risks and recognizing an appropriate allowance for loan and lease losses on its loan portfolio. The Company approved total loan modifications under the CARES Act of $946.3 million, of which $74.0 million remain as of December 31, 2020. Another key program under the CARES Act is the Paycheck Protection Program (“PPP”) administered by the SBA which provided funding to qualifying businesses and organizations. Under this program, the Company provided funding of approximately $600 million. In the third quarter of 2020, the Company sold approximately $355.0 million of such loans, servicing released to a third party. The Company has approximately $195.6 million of PPP loans remaining on its balance sheet as of December 31, 2020 and believes that the majority of these loans will be forgiven by the SBA. These loans are fully guaranteed by the SBA and provide for full forgiveness of the loans during a specified forgiveness period that meet specific guidelines provided by the SBA. Loans that do not meet the forgiveness criteria will enter a repayment period of 2 or 5 years. 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 expenses, such as for major medical issues or catastrophic events; and divorce or death. Further, real estate values could drop significantly and cause the value of the property to fall below the loan amount, creating additional potential loss exposure for the Bank. 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 of PCC, 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 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 ROU 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. The Company also offers facility specific / loan level swaps to its customers and offsets its exposure from such contracts by entering into mirror image swaps with a financial institution / swap counterparty (loan level / back to back swap program). The customer accommodations and any offsetting swaps are treated as non-hedging derivative instruments which do not qualify for hedge accounting (“standalone derivatives”). The notional amount of the 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 contracts. The fair value of the swaps is recorded as both an asset and a liability, in other assets and other liabilities, respectively, in equal amounts for these transactions. The Company is exposed to losses if a customer counterparty fails to make its payments under a contract in which the Company is in a net receiving position. At this time, the Company anticipates that its counterparties will be able to fully satisfy their obligations under the agreements. All of the contracts to which the Company is a party settle monthly. Further, the Company has netting agreements with the dealers with which it does business. Income Taxes: The Company files a consolidated Federal income tax return. State income tax returns are filed either on a combined or separate company basis based on the current laws and regulations of the state. 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 2017 or by state and local tax authorities for years prior to 2016. 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”): 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. In May 2020, shareholders approved an increase of 200,000 shares of Peapack-Gladstone Financial Corporation common stock to be issued under the ESPP. Subject to certain eligibility requirements and restrictions, the ESPP provided for a single Offering Period of twelve months in duration, which commenced on May 16, 2019 and ended on May 15, 2020. During the second quarter of 2020, the ESPP was revised to allow for the purchase of shares during four three-month Offering Periods. The first Offering Period under this revised plan commenced on May 16, 2020. The next three future Offering Periods commenced on August 16, November 16 and February 16.

INVESTMENT SECURITIES AVAILABLE

INVESTMENT SECURITIES AVAILABLE FOR SALE	12 Months Ended
	Dec. 31, 2020
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, 2020 and 2019 follows: 2020 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value U.S. treasuries $ 2,613 $ — $ — $ 2,613 U.S. government-sponsored agencies 84,424 2 (655 ) 83,771 Mortgage-backed securities-residential 467,915 8,604 (461 ) 476,058 SBA pool securities 49,457 31 (359 ) 49,129 State and political subdivisions 7,987 102 — 8,089 Corporate bond 3,000 29 — 3,029 Total $ 615,396 $ 8,768 $ (1,475 ) $ 622,689 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 The amortized cost and fair value of investment securities available for sale as of December 31, 2020, 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 $ 5,500 $ 5,515 After one year through five years 5,100 5,187 After five years through ten years 37,473 37,177 After ten years 49,951 49,623 98,024 97,502 Mortgage-backed securities-residential 467,915 476,058 SBA pool securities 49,457 49,129 Total $ 615,396 $ 622,689 Securities available for sale with a fair value of $598.3 million and $374.6 million as of December 31, 2020 and December 31, 2019, 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) 2020 2019 2018 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, 2020 and 2019. 2020 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 $ 73,769 $ (655 ) $ — $ — $ 73,769 $ (655 ) Mortgage-backed securities-residential 103,340 (430 ) 13,914 (31 ) 117,254 (461 ) SBA pool securities 39,720 (343 ) 2,095 (16 ) 41,815 (359 ) Total $ 216,829 $ (1,428 ) $ 16,009 $ (47 ) $ 232,838 $ (1,475 ) 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 ) 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 2020, 2019 or 2018. The Company has an investment in a CRA investment fund with a fair value of $15.1 million and $10.8 million at December 31, 2020 and 2019, respectively. The investment is classified as an equity security in our Consolidated Statements of Condition.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2020
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) 2020 Loans 2019 Loans Residential mortgage $ 502,829 11.50 % $ 549,138 12.50 % Multifamily mortgage 1,126,946 25.77 1,210,003 27.54 Commercial mortgage 691,294 15.81 761,244 17.32 Commercial loans (including equipment financing) (A) 1,950,981 44.62 1,756,477 39.97 Commercial construction 12,600 0.29 5,306 0.12 Home equity lines of credit 50,546 1.15 57,248 1.30 Consumer loans, including fixed rate home equity loans 37,016 0.85 54,372 1.24 Other loans 225 0.01 349 0.01 Total loans $ 4,372,437 100.00 % $ 4,394,137 100.00 % (A) The December 31, 2020 balance includes PPP loans of $195.6 million. 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) 2020 Loans 2019 Loans Primary residential mortgage $ 512,841 11.74 % $ 578,306 13.17 % Home equity lines of credit 50,545 1.16 57,248 1.30 Junior lien loan on residence 4,527 0.10 7,011 0.16 Multifamily property 1,126,946 25.79 1,210,003 27.56 Owner-occupied commercial real estate 253,447 5.80 249,419 5.68 Investment commercial real estate 995,613 22.79 1,095,182 24.95 Commercial and industrial (A) 1,059,399 24.24 867,295 19.76 Lease financing 305,931 7.00 258,401 5.89 Farmland/Agricultural production 3,068 0.07 3,043 0.07 Commercial construction 12,773 0.29 5,520 0.13 Consumer and other 44,483 1.02 58,213 1.33 Total loans $ 4,369,573 100.00 % $ 4,389,641 100.00 % Net deferred costs 2,864 4,496 Total loans including net deferred costs $ 4,372,437 $ 4,394,137 (A) The December 31, 2020 balance includes PPP loans of $195.6 million. The Company sold loans issued under the PPP totaling $355.0 million during 2020 resulting in a gain on sale of loans of $7.4 million. The Company sold one C&I loan which totaled $5.0 million during 2019 resulting in a loss on sale of loans sold of $10,000. The Company sold approximately $131.3 million in multifamily whole loans during 2018 resulting in a loss on sale of approximately $4.4 million. 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) 2020 2019 Balance, beginning of year $ 4,164 $ 4,574 New loans 1,094 1,345 Repayments (1,457 ) (1,551 ) Loans with individuals no longer considered related parties — (204 ) Balance, at end of year $ 3,801 $ 4,164 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, 2020 and 2019: December 31, 2020 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 $ 1,490 $ 3 $ 511,351 $ 2,902 $ 512,841 $ 2,905 Home equity lines of credit — — 50,545 218 50,545 218 Junior lien loan on residence — — 4,527 15 4,527 15 Multifamily property — — 1,126,946 9,945 1,126,946 9,945 Owner-occupied commercial real estate 807 — 252,640 3,050 253,447 3,050 Investment commercial real estate 4,593 — 991,020 27,713 995,613 27,713 Commercial and industrial 9,314 2,700 1,050,085 16,347 1,059,399 19,047 Lease financing — — 305,931 3,936 305,931 3,936 Secured by farmland and agricultural production — — 3,068 43 3,068 43 Commercial construction — — 12,773 158 12,773 158 Consumer and other — — 44,483 279 44,483 279 Total ALLL $ 16,204 $ 2,703 $ 4,353,369 $ 64,606 $ 4,369,573 $ 67,309 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 Impaired loans included nonaccrual loans of $11.4 million at December 31, 2020 and $28.9 million at December 31, 2019. The decrease in impaired loans was due to the transfer of several residential and commercial loans totaling $18.5 million that were transferred to held for sale during 2020. The Company recorded a charge-off of $5.9 million related to these loans upon transfer to held for sale in 2020. Impaired loans also included performing troubled debt restructured loans of $201,000 at December 31, 2020 and $2.4 million at December 31, 2019. At December 31, 2020, the allowance allocated to troubled debt restructured loans totaled $3,000 of which none was allocated to nonaccrual loans. At December 31, 2019, the allowance allocated to troubled debt restructured loans totaled $2.8 million of which $2.7 million was allocated to nonaccrual loans. All accruing troubled debt restructured loans were paying in accordance with restructured terms as of December 31, 2020. The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2020 and 2019: December 31, 2020 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 1,601 $ 1,328 $ — $ 5,544 Owner-occupied commercial real estate 817 807 — 516 Investment commercial real estate 4,593 4,593 — 6,582 Commercial and industrial 7,137 4,314 — 1,677 Total loans with no related allowance $ 14,148 $ 11,042 $ — $ 14,319 With related allowance recorded: Primary residential mortgage $ 162 $ 162 $ 3 $ 526 Commercial and industrial 5,000 5,000 2,700 4,140 Total loans with related allowance $ 5,162 $ 5,162 $ 2,703 $ 4,666 Total loans individually evaluated for impairment $ 19,310 $ 16,204 $ 2,703 $ 18,985 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 Interest income recognized on impaired loans during 2020, 2019 and 2018 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, 2020 and 2019: December 31, 2020 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 1,328 $ — Owner-occupied commercial real estate 807 — Commercial and industrial 9,275 — Total $ 11,410 $ — 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 $ — The following tables present the recorded investment in past due loans as of December 31, 2020 and 2019 by class of loans, excluding nonaccrual loans: December 31, 2020 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 2,900 $ 141 $ — $ 3,041 Home equity lines of credit 181 — — 181 Junior lien loan on residence — 25 — 25 Multifamily property — 269 — 269 Owner-occupied commercial real estate 268 — — 268 Commercial and industrial 497 772 — 1,269 Total $ 3,846 $ 1,207 $ — $ 5,053 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 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 large sample of relationships or new lending to existing relationships greater than $1,000,000 booked since the prior review; • All criticized and classified rated borrowers with relationship exposure of more than $500,000; • A large sample of Pass-rated (including Pass Watch) borrowers with total relationships in excess of $1,000,000 and a small sample of Pass related 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; • Exclude borrowers with commitments of less than $500,000; • 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, 2020 and 2019. December 31, 2020 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 504,795 $ 1,398 $ 6,648 $ — Home equity lines of credit 50,068 — 477 — Junior lien loan on residence 4,483 — 44 — Multifamily property 1,121,145 5,441 360 — Owner-occupied commercial real estate 240,638 10,417 2,392 — Investment commercial real estate 893,115 91,162 11,336 — Commercial and industrial 989,281 53,604 16,514 — Lease financing 305,931 — — — Secured by farmland and agricultural 3,068 — — — Commercial construction 12,692 81 — — Consumer and other loans 44,483 — — — Total $ 4,169,699 $ 162,103 $ 37,771 $ — 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 $ — At December 31, 2020, $16.2 million of substandard loans were also considered impaired as compared to $35.9 million at December 31, 2019. The increase in special mention investment and owner-occupied commercial real estate and commercial and industrial classified loans was a result of the Bank’s credit analysis of sectors with COVID elevated residual risk (Hospitality and Food Services and Retail – Non-Grocery Anchored) and the downgrade of several loans within these categories during 2020. The tables below present a roll forward of the ALLL for the years ended December 31, 2020, 2019 and 2018. January 1, December 31, 2020 2020 Beginning Ending (In thousands) ALLL Charge-Offs Recoveries Provision ALLL Primary residential mortgage $ 2,090 $ (559 ) $ 373 $ 1,001 $ 2,905 Home equity lines of credit 128 — 11 79 218 Junior lien loan on residence 13 — — 2 15 Multifamily property 6,037 (56 ) — 3,964 9,945 Owner-occupied commercial real estate 2,064 (51 ) — 1,037 3,050 Investment commercial real estate 15,988 (6,092 ) 31 17,786 27,713 Commercial and industrial 14,353 (2,418 ) 17 7,095 19,047 Lease financing 2,642 — — 1,294 3,936 Secured by farmland and agricultural 38 — — 5 43 Commercial construction 27 — — 131 158 Consumer and other 296 (27 ) 4 6 279 Total ALLL $ 43,676 $ (9,203 ) $ 436 $ 32,400 $ 67,309 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 Loan Modifications: The CARES Act allows financial institutions to suspend application of certain current TDR accounting guidance under ASC 310-40 for loan modifications related to the COVID-19 pandemic made prior to December 31, 2020 or 60 days after the end of the COVID-19 national emergency, provided certain criteria are met. The revised CARES Act extended loan modifications through January 1, 2022. This relief can be applied to loan modifications for borrowers that were not more than 30 days past due as of December 31, 2019 and to loan modifications that defer or delay the payment of principal or interest or change the interest rate on the loan. In April 2020, federal and state banking regulators issued the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus to provide further interpretation of when a borrower is experiencing financial difficulty, specifically indicating that if the modification is either short-term (e.g., six months) or mandated by a federal or state government in response to the COVID-19 pandemic, the borrower is not experiencing financial difficulty under ASC 310-40. Throughout 2020, the Bank had modified 536 loans with a balance of $946.3 million resulting in the deferral of principal and/or interest for periods ranging from 90 to 180 days. The table below summarizes the outstanding deferrals as of December 31, 2020. All of these loans were performing in accordance with their terms prior to modifications and are in conformance with the CARES Act. Included in the table below are two loans totaling $29.3 million of loan level swaps. Details with respect to loan modifications are as follows: Post-Modification Outstanding Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 28 $ 9,900 Home equity lines of credit 3 643 Junior lien loan on residence 1 18 Multifamily property 7 22,595 Owner-occupied commercial real estate 2 990 Investment commercial real estate 3 34,416 Commercial and industrial 9 4,959 Commercial construction 1 451 Total 54 $ 73,972 The future performance of these loans, specifically beyond the term of the deferral, is uncertain. To recognize a credit allowance commensurate with the existing risk, the Company assigned qualitative factors for each of the above portfolio classes for allowance purposes. Troubled Debt Restructurings: The Company has allocated $3,000 and $2.8 million of specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of December 31, 2020 and December 31, 2019, 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, 2020, 2019 and 2018, 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, 2020: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 3 $ 423 $ 423 Commercial and industrial 1 39 39 Total 4 $ 462 $ 462 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 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 restructurings during the years ended December 31, 2020, 2019 and 2018. The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2020 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 1 $ 133 Commercial and industrial 1 39 Total 2 $ 172 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 defaults described above did not have a material impact on the allowance for loan losses during 2020 and 2019. 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, 2020
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) 2020 2019 Land and land improvements $ 6,332 $ 6,332 Buildings 12,749 12,741 Furniture and equipment 22,911 21,594 Leasehold improvements 13,479 12,228 Projects in progress 555 475 56,026 53,370 Less: accumulated depreciation 34,417 32,457 Total $ 21,609 $ 20,913 The Company has classified capital leases as a finance lease right-of-use asset under the new lease guidance for 2019. The following table presents finance lease right-of-use assets as of December 31, (In thousands) 2020 2019 Land and buildings $ 11,237 $ 11,237 Less: accumulated depreciation 6,907 6,159 Total $ 4,330 $ 5,078 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 for each of the years ended December 31, 2020, 2019 and 2018, 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 2020, 2019 and 2018 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, 2020: (In thousands) 2021 $ 1,233 2022 1,391 2023 1,456 2024 1,456 2025 939 Thereafter 1,344 Total minimum lease payments 7,819 Less: amount representing interest 1,066 Present value of net minimum lease payments $ 6,753

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	12 Months Ended
	Dec. 31, 2020
Other Real Estate [Abstract]
OTHER REAL ESTATE OWNED	5. OTHER REAL ESTATE OWNED At December 31, 2020 and 2019, the Company had other real estate owned, net of valuation allowances, totaling $50,000. The following table shows the activity in other real estate owned, excluding the valuation allowance, for the years ended December 31: (In thousands) 2020 2019 Balance, beginning of year $ 50 $ — OREO properties added — 386 Sales during year — (336 ) Balance, end of year $ 50 $ 50 The following table shows the activity in the valuation allowance for the years ended December 31: (In thousands) 2020 2019 2018 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) 2020 2019 2018 Net loss/(gain) on sales $ — $ — $ 58 Provision for unrealized losses — — 232 Operating expenses, net of rental income 22 9 190 Total $ 22 $ 9 $ 480

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2020
Deposits [Abstract]
DEPOSITS	6. DEPOSITS Time deposits over $250,000 totaled $186.3 million and $223.7 million at December 31, 2020 and 2019, respectively. These totals exclude brokered certificates of deposit. The following table sets forth the details of total deposits as of December 31: (Dollars in thousands) 2020 2019 Noninterest-bearing demand deposits $ 833,500 17.30 % $ 529,281 12.47 % Interest-bearing checking (1) 1,849,254 38.38 1,510,363 35.59 Savings 130,731 2.71 112,652 2.66 Money market 1,298,885 26.96 1,196,313 28.19 Certificates of deposit - retail 530,222 11.00 633,763 14.94 Certificates of deposit - listing service 32,128 0.67 47,430 1.12 Subtotal deposits 4,674,720 97.02 4,029,802 94.97 Interest-bearing demand - Brokered 110,000 2.28 180,000 4.24 Certificates of deposit - Brokered 33,764 0.70 33,709 0.79 Total deposits $ 4,818,484 100.00 % $ 4,243,511 100.00 % (1) Interest-bearing checking includes $652.5 million at December 31, 2020 and $423.8 million at December 31, 2019 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace programs. The scheduled maturities of time deposits as of December 31, 2020 are as follows: (In thousands) 2021 $ 462,402 2022 65,553 2023 10,095 2024 25,234 2025 29,332 Over 5 Years 3,498 Total $ 596,114

FEDERAL HOME LOAN BANK ADVANCES

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS	7. FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS The Company did not have any advances from the FHLB at December 31, 2020. The Company prepaid $105.0 million of FHLB advances resulting in a prepayment penalty of $4.8 million during 2020. The repayment of the FHLB advances is expected to provide a benefit to interest expense greater than the prepayment penalty over the remaining life of the advances. At December 31, 2019, the advances had fixed maturity dates and 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. Short-term borrowings consisted of a one-month FHLB advance totaling $15.0 million with a rate of 0.34 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 three years. At December 31, 2019, 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. At December 31, 2020, unused short-term or overnight borrowing commitments totaled $1.8 billion from the FHLB, $22.0 million from correspondent banks and $987.7 million at the Federal Reserve Bank of New York. The Company had $177.1 million in borrowings from the Federal Reserve’s PPPLF as of December 31, 2020. The borrowings have a rate of 0.35 percent, primarily all of which have a 2-year maturity. The Company utilized the PPPLF to fund PPP loan production during the second quarter of 2020. The borrowings are fully pledged by PPP loans as of December 31, 2020.

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 2020
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: The fair values for investment securities are determined by quoted market prices (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). Loans Held for Sale, at Fair Value: Derivatives Impaired Loans: Other Real Estate Owned: Appraisals for collateral-dependent impaired loans 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, 2020. The following table summarizes, at the dates 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, 2020 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: U.S. treasuries $ 2,613 $ — $ 2,613 $ — U.S. government-sponsored agencies 83,771 — 83,771 — Mortgage-backed securities-residential 476,058 — 476,058 — SBA pool securities 49,129 — 49,129 — State and political subdivisions 8,089 — 8,089 — Corporate bond 3,029 — 3,029 — CRA investment fund 15,117 15,117 — — Loans held for sale, at fair value 13,588 — 13,588 — Derivatives: Loan level swaps 79,529 — 79,529 — Total $ 730,923 $ 15,117 $ 715,806 $ — Liabilities: Derivatives: Cash flow hedges $ 9,616 $ — $ 9,616 $ — Loan level swaps 79,529 — 79,529 — Total $ 89,145 $ — $ 89,145 $ — (In thousands) December 31, 2019 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 $ — 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, 2020 and December 31, 2019. The following tables present residential loans held for sale, at fair value, at the dates indicated: December 31, 2020 December 31, 2019 Residential loans contractual balance $ 13,295 $ 2,839 Fair value adjustment 293 42 Total fair value of residential loans held for sale $ 13,588 $ 2,881 The following table summarizes, at the dates 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, 2020 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Commercial and industrial $ 2,300 $ — $ — $ 2,300 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 The carrying amounts and estimated fair values of financial instruments at December 31, 2020 are as follows: Fair Value Measurements at December 31, 2020 Using (In thousands) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 653,322 $ 653,322 $ — $ — $ 653,322 Securities available for sale 622,689 — 622,689 — 622,689 CRA investment fund 15,117 15,117 — — 15,117 FHLB and FRB stock 13,709 — — — N/A Loans held for sale, at fair value 13,588 — 13,588 — 13,588 Loans held for sale, at lower of cost or fair value 18,520 — 19,115 — 19,115 Loans, net of allowance for loan losses 4,305,128 — — 4,462,243 4,462,243 Accrued interest receivable 22,495 — 1,653 20,842 22,495 Loan level swaps 79,529 — 79,529 — 79,529 Financial liabilities Deposits $ 4,818,484 $ 4,222,370 $ 604,036 $ — $ 4,826,406 Short-term borrowings 15,000 — 15,000 — 15,000 Paycheck Protection Program Liquidity Facility 177,086 — 177,086 — 177,086 Subordinated debt 181,794 — — 183,348 183,348 Accrued interest payable 1,650 150 1,347 153 1,650 Cash flow hedges 9,616 — 9,616 — 9,616 Loan level swaps 79,529 — 79,529 — 79,529 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 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, 2020
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) 2020 2019 2018 Service charges on deposits Overdraft fees $ 405 $ 662 $ 726 Interchange income 1,208 1,238 1,251 Other 1,542 1,588 1,525 Wealth management fees 40,048 37,508 32,356 Investment brokerage fees 813 855 889 (Losses)/gains on sales of OREO — — (58 ) Other (a) 17,744 12,845 7,504 Total noninterest other income $ 61,760 $ 54,696 $ 44,193 (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: 2020 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 405 $ — $ 405 Interchange income 1,208 — 1,208 Other 1,542 — 1,542 Wealth management fees — 40,048 40,048 Investment brokerage fees — 813 813 Other (a) 15,949 1,795 17,744 Total noninterest income $ 19,104 $ 42,656 $ 61,760 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 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 (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, 2020
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) 2020 2019 2018 Professional and legal fees $ 4,099 $ 4,506 $ 4,668 Telephone 1,432 1,361 1,077 Advertising 1,631 1,363 1,340 Provision for ORE losses — — 232 Amortization of intangible assets 1,287 1,043 1,187 Branch restructure 488 — — Other operating expenses 10,945 11,434 10,840 Total other operating expenses $ 19,882 $ 19,707 $ 19,344

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
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) 2020 2019 2018 Federal: Current (benefit)/expense $ (4,741 ) $ 5,647 $ (7,046 ) Deferred expense 10,161 6,087 16,908 State: Current expense 2,327 3,028 3,554 Deferred (benefit)/expense (1,936 ) 3,926 134 Total income tax expense $ 5,811 $ 18,688 $ 13,550 Total income tax expense differed from the amounts computed by applying the U.S. Federal income tax rate of 21 percent for 2020, 2019, and (In thousands) 2020 2019 2018 Computed “expected” tax expense $ 6,721 $ 13,886 $ 12,121 (Decrease)/increase in taxes resulting from: Tax-exempt income (287 ) (431 ) (402 ) State income taxes, net of Federal benefit 1,813 2,540 2,942 Impact of state tax reform, net of Federal benefit — 2,954 — Bank owned life insurance income (267 ) (277 ) (290 ) Life insurance expense 225 234 148 Gain on death benefit — — (630 ) Interest disallowance 66 146 115 Meals and entertainment expense 40 40 25 Stock-based compensation 569 (46 ) (481 ) Impact of CARES Act (3,009 ) — — Other (60 ) (358 ) 2 Total income tax expense $ 5,811 $ 18,688 $ 13,550 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) 2020 2019 Deferred tax assets: Allowance for loan losses $ 18,044 $ 11,369 Tax net operating loss carryforward 3,476 6,163 Organization costs 12 13 Cash flow hedge 2,703 925 Unrealized loss on equity security — 43 Stock option expense 2,131 2,874 Nonaccrual interest 24 74 Accrued compensation 4,058 2,956 Accrued expenses 1,420 1,402 Lease liabilities 2,610 3,234 Finance lease 762 768 Other 52 188 Total gross deferred tax assets $ 35,292 $ 30,009 Deferred tax liabilities: Lease financing $ 55,823 $ 44,841 Unrealized gain on securities available for sale 1,772 330 Unrealized gain on equity security 31 — Deferred loan origination costs and fees 1,175 1,355 Deferred income 5,205 5,329 Amortization of intangible assets 1,738 239 Purchase accounting — 908 Lease right-of-use asset 2,526 3,158 Total gross deferred tax liabilities 68,270 56,160 Net deferred tax liability $ (32,978 ) $ (26,151 ) Based upon taxes paid and projected future taxable income, Management believes that it is more likely than not that the Company’s 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, 2020 and 2019, 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 recognizes interest accrued related to uncertain tax positions and penalties as income tax expense. 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 20 20 . In September 2020, New Jersey extended the surtax through December 31, 2023. 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 CARES Act was signed into law on March 27, 2020 and subsequently has been amended several times. Among other provisions the CARES Act allowed a five-year carryback of any NOL generated in a taxable year beginning after December 31, 2017 and before January 1, 2021. The tax benefit recorded in 2020 was primarily due to a $3.0 million Federal income tax benefit that resulted from the federal NOL carryback. The Company had a $23 million operating loss for tax purposes in 2018 (when the Federal tax rate was 21 percent) resulting from accelerated tax depreciation. The Company carried back all eligible NOLs and has no federal NOLs remaining. 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 2017. The tax years of 2017, 2018 and 2019 remain open to federal examination.

BENEFIT PLANS

BENEFIT PLANS	12 Months Ended
	Dec. 31, 2020
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. The Company did not make a contribution to the savings plan for the year ended December 31, 2020. 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 year ended December 31, 2018, as well as partially matching employee contributions. Expense for the savings plan totaled approximately $1.7 million for both the years ended December 31, 2020 and 2019, respectively, and $2.2 million for the year ended December 31, 2018. 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 2020, 2019 or 2018.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2020
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, 2020, the total number of shares available for grant in all active plans was 1,499,056. 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 2020 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In Thousands) Balance, January 1, 2020 71,420 $ 13.57 Exercised during 2020 (19,860 ) 13.60 Expired during 2020 - - Forfeited during 2020 (900 ) 11.73 Balance, December 31, 2020 50,660 $ 13.59 1.55 years $ 465 Vested and expected to vest 50,660 $ 13.59 1.55 years $ 465 Exercisable at December 31, 2020 50,660 $ 13.59 1.55 years $ 465 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 2020 and the exercise price, multiplied by the number of in-the-money options). The Company’s closing stock price on December 31, 2020 was $22.76. There were no stock options granted in 2020. As of December 31, 2020, 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 units in 2020, 2019 and 2018. Service-based units vest ratably over a three or five-year 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 period, which is generally three years. There were 130,832 performance-based restricted units granted during 2020. As of December 31, 2020, there was $11.9 million of total unrecognized compensation cost related to service-based units. That cost is expected to be recognized over a weighted average period of 1.54 years. Total stock-based compensation expense recognized for stock awards/units totaled $6.9 million, $5.9 million and $4.6 million in 2020, 2019 and 2018, respectively. There was no stock-based compensation expense related to stock options for the years ended December 31, 2020, 2019 and 2018, respectively. Changes in non-vested shares dependent on performance criteria for 2020 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2020 90,768 $ 30.60 Granted during 2020 130,832 13.44 Balance, December 31, 2020 221,600 $ 20.47 Changes in service based restricted stock units for 2020 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2020 432,728 $ 29.65 Granted during 2020 528,038 14.08 Vested during 2020 (173,769 ) 28.91 Forfeited during 2020 (9,831 ) 29.20 Balance, December 31, 2020 777,166 $ 19.24

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
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 $691.7 million and $673.8 million at December 31, 2020 and 2019, 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 $17.0 million and $20.3 million at December 31, 2020 and 2019, respectively. The fair value of the Company’s liability for financial standby letters of credit was insignificant at December 31, 2020. 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, 2020, the Company had unfunded commitments of $1.1 million for its investment in SBIC qualified funds.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
LEASES	15. 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, 2020, the Company's operating lease ROU asset and operating lease liability totaled $9.4 million and $9.7 million, respectively. A weighted average discount rate of 3.11 percent and 3.05 percent was used in the measurement of the ROU asset and lease liability as of December 31, 2020 and 2019, respectively. The Company's leases have remaining lease terms between one month to 16 years, with a weighted average lease term of 6.01 years, at December 31, 2020. The Company's leases had 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 $3.1 million and $2.8 million for the years ended December 31, 2020 and 2019, respectively. The variable lease costs were $338,000 and $329,000 for the years ended December 31, 2020 and 2019, respectively. The following is a schedule of the Company's operating lease liabilities by contractual maturity as of December 31, 2020: (In thousands) 2020 $ 2,659 2021 2,113 2022 1,742 2023 1,296 2024 1,068 Thereafter 1,896 Total lease payments 10,774 Less: imputed interest 1,037 Total present value of lease payments $ 9,737 The following table shows the supplemental cash flow information related to the Company’s direct finance and operating leases for the years ended December 31: (In thousands) 2020 2019 Right-of-use asset obtained in exchange for lease obligation $ 457 $ 7,012 Operating cash flows from operating leases 2,809 2,623 Operating cash flows from direct finance leases 343 382 Financing cash flows from direct finance leases 748 748

REGULATORY CAPITAL

REGULATORY CAPITAL	12 Months Ended
	Dec. 31, 2020
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, 2020, 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, 2020 and 2019, 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, 2020: Total capital (to risk-weighted assets) $ 600,478 14.81 % $ 405,587 10.00 % $ 324,469 8.00 % $ 425,866 10.50 % Tier I capital (to risk-weighted assets) 549,575 13.55 324,469 8.00 243,352 6.00 344,749 8.50 Common equity tier I (to risk-weighted assets) 549,540 13.55 263,631 6.50 182,514 4.50 283,911 7.00 Tier I capital (to average assets) 549,575 9.71 283,083 5.00 226,466 4.00 226,466 4.00 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 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, 2020: Total capital (to risk-weighted assets) $ 716,210 17.67 % N/A N/A $ 324,322 8.00 % $ 425,673 10.50 % Tier I capital (to risk-weighted assets) 483,535 11.93 N/A N/A 243,242 6.00 344,592 8.50 Common equity tier I (to risk-weighted assets) 483,500 11.93 N/A N/A 182,431 4.50 283,782 7.00 Tier I capital (to average assets) 483,535 8.53 N/A N/A 226,624 4.00 226,624 4.00 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 (A) The Basel Rules require the Company and the Bank to maintain a 2.5 percent “capital conservation buffer” on top of the minimum risk-weighted asset ratios. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of (i) CET1 to risk-weighted assets, (ii) Tier 1 capital to risk-weighted assets or (iii) total capital to risk-weighted assets above the respective minimum but below the capital conservation buffer face constraints on dividends, equity repurchases and discretionary bonus payments to executive officers based on the amount of the shortfall.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2020
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, 2020 and 2019 is presented in the following table: (Dollars in thousands) 2020 2019 Notional amount $ 270,000 $ 245,000 Weighted average pay rate 1.93 % 2.05 % Weighted average receive rate 0.22 % 1.83 % Weighted average maturity 2.02 years 2.45 years Unrealized (loss)/gain, net $ (9,616 ) $ (3,667 ) Number of contracts 13 12 Net interest income/expense recorded on these swap transactions totaled approximately $3.7 million in expense and $953,000 of income for the years ended December 31, 2020 and 2019, 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: 2020 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 $ (5,860 ) $ (89 ) $ — 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 ) $ — During the first quarter of 2020, the Company recognized an unrealized after-tax gain of $26,000 in accumulated other comprehensive income/(loss) related to the termination of three interest rate swaps designated as cash flow hedges. 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. The following tables reflect the cash flow hedges included in the financial statements as of December 31, 2020 and 2019: December 31, 2020 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing deposits $ 270,000 $ (9,616 ) Total included in other assets — — Total included in other liabilities 270,000 (9,616 ) 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 ) Derivatives Not Designated as Accounting Hedges: Information about these swaps is as follows: (Dollars in thousands) December 31, 2020 December 31, 2019 Notional amount $ 823,134 $ 793,875 Fair value $ 79,529 $ 32,381 Weighted average pay rates 4.02 % 4.12 % Weighted average receive rates 1.91 % 3.54 % Weighted average maturity 6.5 years 7.3 years Number of contracts 95 91

SHAREHOLDERS EQUITY

SHAREHOLDERS EQUITY	12 Months Ended
	Dec. 31, 2020
Stockholders Equity Note [Abstract]
SHAREHOLDERS EQUITY	18. SHAREHOLDERS’ EQUITY On July 25, 2019, the Company authorized the repurchase of up to 960,000 shares, or approximately 5% of its outstanding shares. During the year ended December 31, 2020, the Company purchased 220,222 shares, at an average price of $29.45, for a total cost of $6.5 million. 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 Company completed its 960,000 share repurchase program, at an average price of $28.63, for a total cost of $27.5 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, 2020
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. The Banking segment’s effective tax rate for the year ended December 31, 2020 was affected by a $3.3 million income tax benefit recorded during the first quarter of 2020. For additional information related to this income tax benefit refer to the Income Taxes 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, which includes the operations of PGB Trust & Investments of Delaware, MCM, 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, 2020, 2019 and 2018: Year Ended December 31, 2020 Wealth (In thousands) Banking Management Total Net interest income $ 121,583 $ 6,019 $ 127,602 Noninterest income 19,104 42,656 61,760 Total income 140,687 48,675 189,362 Provision for loan losses 32,400 — 32,400 Compensation and benefits 54,044 23,472 77,516 Premises and equipment expense 14,056 2,321 16,377 FDIC expense 1,975 — 1,975 Other noninterest expense 19,694 9,397 29,091 Total noninterest expense 122,169 35,190 157,359 Income before income tax expense 18,518 13,485 32,003 Income tax expense 2,170 3,641 5,811 Net income $ 16,348 $ 9,844 $ 26,192 Total assets at period end $ 5,798,770 $ 91,672 $ 5,890,442 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

SUBORDINATED DEBT

SUBORDINATED DEBT	12 Months Ended
	Dec. 31, 2020
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 percent 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 percent 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. In December 2020, the Company issued $100.0 million in aggregate principal amount of fixed to floating subordinates notes (the “2020 Notes”) to certain institutional investors. The 2020 Notes are non-callable for five years, have a stated maturity of December 22, 2030, and bear interest at a fixed rate of 3.50 percent per year until December 22, 2025 From December 23, 2025 to the maturity date or early redemption date, the interest rate will reset quarterly to a level equal to the then current three-month SOFR plus 326 basis points, payable quarterly in arrears. Debt issuance costs incurred totaled $1.8 million and are being amortized to maturity. The Company plans for the proceeds from the issuance of the 2020 Notes could include stock repurchases, redemption of the Company’s 2016 Notes and acquisitions of wealth management firms. 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 2020 Notes, the Company obtained ratings from KBRA and Moody’s Investors Service (“Moody’s”). KBRA assigned investment grade rating of BBB- and Moody’s assigned investment grade rating of Baa3 for the 2020 Notes at the time of issuance .

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
ACQUISITIONS	21. ACQUISITIONS The Company completed two acquisition in 2020, one acquisition in 2019, and one acquisition in 2018, 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 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. On December 18, 2020, the Company acquired wealth management teams and the associated books of business from Noyes Capital Management and Lucas Capital Management. The purchase price was comprised of cash in both transactions. 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. There was no equity included in the Company’s acquisitions for the year ended December 31, 2020. The two 2020 acquisitions resulted in goodwill of $2.9 million as well as identifiable intangible assets. The 2019 acquisition resulted in goodwill of $5.8 million as well as identifiable intangible assets . Goodwill on the Company’s consolidated statement of financial condition totaled $33.1 million, and $30.2 million as of December 31, 2020 and 2019, respectively. Of the $33.1 million of goodwill, $563,000 relates to the Banking segment and $32.5 million relates to the Wealth Management segment. During 2020, the Company conducted its annual impairment analysis and concluded that there was no impairment of goodwill. The table below presents a rollforward of goodwill and intangible assets for the years ended December 31, 2020, 2019 and 2018: Identifiable (In thousands) Goodwill Intangible Assets Balance as of January 1, 2018 $ 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 Acquisitions during the period $ 2,895 $ 1,695 Amortization during the period — 1,287 Balance as of December 31, 2020 $ 33,103 $ 10,788 Amortization expense related to identifiable intangible assets was $1.3 million, $1.0 million, and $1.2 million for 2020, 2019, and 2018, 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) 2021 $ 1,472 2022 1,316 2023 1,066 2024 834 2025 834

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	12 Months Ended
	Dec. 31, 2020
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, 2020, 2019 and 2018: 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) 2019 Reclassifications Income/(Loss) 2020 2020 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ 1,006 $ 4,515 $ — $ 4,515 $ 5,521 Gains/(losses) on cash flow hedge (2,501 ) (4,346 ) (66 ) (4,412 ) (6,913 ) Accumulated other comprehensive income/(loss), net of tax $ (1,495 ) $ 169 $ (66 ) $ 103 $ (1,392 ) 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 income/(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 gain/(loss) on securities available for sale, net of tax $ (2,214 ) $ 127 $ (1,137 ) $ 218 $ (919 ) $ (3,006 ) Gains/(losses) on cash flow hedge 1,002 $ — $ (247 ) $ (94 ) $ (341 ) $ 661 Accumulated other comprehensive income/(loss), net of tax $ (1,212 ) $ 127 $ (1,384 ) $ 124 $ (1,260 ) $ (2,345 ) The following represents the reclassifications out of accumulated other comprehensive income for the years ended December 31, 2020, 2019 and 2018: Years Ended December 31, (In thousands) 2020 2019 2018 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 Tax effect — — (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 $ (89 ) $ (223 ) $ (124 ) Interest expense Tax effect 23 67 30 Income tax expense Total reclassifications, net of tax $ (66 ) $ (156 ) $ (94 )

CONDENSED FINANCIAL STATEMENTS

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY)	12 Months Ended
	Dec. 31, 2020
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) 2020 2019 Assets Cash $ 117,670 $ 13,931 Interest-earning deposits 523 523 Total cash and cash equivalents 118,193 14,454 Investment in subsidiary 593,162 567,964 Other assets 6 4,920 Total assets $ 711,361 $ 587,338 Liabilities Subordinated debt $ 181,794 $ 83,417 Other liabilities 2,445 269 Total liabilities 184,239 83,686 Shareholders’ equity Common stock 16,958 16,733 Surplus 326,592 319,375 Treasury stock (36,477 ) (29,990 ) Retained earnings 221,441 199,029 Accumulated other comprehensive loss (1,392 ) (1,495 ) Total shareholders’ equity 527,122 503,652 Total liabilities and shareholders’ equity $ 711,361 $ 587,338 STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Years Ended December 31, (In thousands) 2020 2019 2018 Income Dividend from Bank $ 13,000 $ 31,000 $ — Other income 2 6 4 Total income 13,002 31,006 4 Expenses Interest expense 4,992 4,895 4,887 Other expenses 948 721 480 Total expenses 5,940 5,616 5,367 Income/(loss) before income tax benefit and equity in undistributed earnings of Bank 7,062 25,390 (5,363 ) Income tax benefit (1,247 ) (1,178 ) (1,123 ) Net income/(loss) before equity in undistributed earnings of Bank 8,309 26,568 (4,240 ) Equity in undistributed earnings of Bank/(dividends in excess of earnings) 17,883 20,866 48,410 Net income $ 26,192 $ 47,434 $ 44,170 Other comprehensive income/(loss) 103 850 (1,260 ) Comprehensive income $ 26,295 $ 48,284 $ 42,910 STATEMENTS OF CASH FLOWS Years Ended December 31, (In thousands) 2020 2019 2018 Cash flows from operating activities: Net income $ 26,192 $ 47,434 $ 44,170 Undistributed earnings of Bank (17,883 ) (20,866 ) (48,410 ) Amortization of subordinated debt costs 234 224 171 Decrease/(increase) in other assets 4,914 (1,186 ) (1,183 ) Increase/(decrease) in other liabilities 2,176 (24 ) (256 ) Net cash provided by/(used in) operating activities 15,633 25,582 (5,508 ) Cash flows from investing activities: Capital contribution to subsidiary — — (9,322 ) Net cash used in investing activities — — (9,322 ) Cash flows from financing activities: Cash dividends paid on common stock (3,780 ) (3,865 ) (3,712 ) Exercise of stock options, net of stock swaps 230 251 275 Proceeds from issuance of subordinated debt 98,143 — — Issuance of common shares (DRIP program) — — 16,677 Shares repurchase (6,487 ) (21,002 ) — Net cash provided by/(used in) financing activities 88,106 (24,616 ) 13,240 Net increase/(decrease) in cash and cash equivalents 103,739 966 (1,590 ) Cash and cash equivalents at beginning of period 14,454 13,488 15,078 Cash and cash equivalents at end of period $ 118,193 $ 14,454 $ 13,488

SUPPLEMENTAL DATA (unaudited)

SUPPLEMENTAL DATA (unaudited)	12 Months Ended
	Dec. 31, 2020
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 2020 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 45,395 $ 41,649 $ 40,174 $ 38,532 Interest expense 13,648 9,678 8,025 6,797 Net interest income 31,747 31,971 32,149 31,735 Provision for loan losses 20,000 4,900 5,150 2,350 Wealth management fee income 9,955 9,996 10,119 10,791 Securities gains/(losses), net 198 125 — (42 ) Other income 4,364 2,505 10,092 3,657 Operating expenses 28,235 29,014 28,461 39,249 (Loss)/income before income tax (benefit)/expense (1,971 ) 10,683 18,749 4,542 Income tax (benefit)/expense (3,344 ) 2,441 5,202 1,512 Net income $ 1,373 $ 8,242 $ 13,547 $ 3,030 Earnings per share-basic $ 0.07 $ 0.44 $ 0.72 $ 0.16 Earnings per share-diluted 0.07 0.43 0.71 0.16 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 gains/(losses), 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

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
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 (“PCC”) (formed in the second quarter of 2017) • Murphy Capital Management (“MCM”) (acquired in the third quarter of 2017) • 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. • PGB Securities, Inc. (formed in the second quarter of 2020) 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, 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, 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
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” 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 $65.5 million and $51.9 million as of December 31, 2020 and 2019, respectively. SBA loans held for sale totaled $6.0 million and $4.6 million as of December 31, 2020 and 2019, 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, but do not diminish the borrower’s obligation. 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, asset quality information, 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. 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, charge-offs 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, 2020 and 2019, respectively, the multiple was 2.25 times for non-impaired special mention loans and 3.5 times for non-impaired substandard loans. 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. On March 27, 2020, the President of the United States signed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, which provides entities with optional temporary relief from certain accounting and financial reporting requirements under U.S. GAAP. The CARES Act allows financial institutions to suspend application of certain current TDR accounting guidance under Accounting Standards Codification (“ASC”) 310-40 for loan modifications related to the COVID-19 pandemic made between March 1, 2020 and the earlier of December 31, 2020 or 60 days after the end of the COVID-19 national emergency, provided certain criteria are met. This relief can be applied to loan modifications for borrowers that were not more than 30 days past due as of December 31, 2019 and to loan modifications that defer or delay the payment of principal or interest or change the interest rate on the loan. In April 2020, federal and state banking regulators issued the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus to provide further interpretation of when a borrower is experiencing financial difficulty, specifically indicating that if the modification is either short-term (e.g., six months) or mandated by a federal or state government in response to the COVID-19 pandemic, the borrower is not experiencing financial difficulty under ASC 310-40. The Company continues to prudently work with borrowers negatively impacted by the COVID-19 pandemic while managing credit risks and recognizing an appropriate allowance for loan and lease losses on its loan portfolio. The Company approved total loan modifications under the CARES Act of $946.3 million, of which $74.0 million remain as of December 31, 2020. Another key program under the CARES Act is the Paycheck Protection Program (“PPP”) administered by the SBA which provided funding to qualifying businesses and organizations. Under this program, the Company provided funding of approximately $600 million. In the third quarter of 2020, the Company sold approximately $355.0 million of such loans, servicing released to a third party. The Company has approximately $195.6 million of PPP loans remaining on its balance sheet as of December 31, 2020 and believes that the majority of these loans will be forgiven by the SBA. These loans are fully guaranteed by the SBA and provide for full forgiveness of the loans during a specified forgiveness period that meet specific guidelines provided by the SBA. Loans that do not meet the forgiveness criteria will enter a repayment period of 2 or 5 years. 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 expenses, such as for major medical issues or catastrophic events; and divorce or death. Further, real estate values could drop significantly and cause the value of the property to fall below the loan amount, creating additional potential loss exposure for the Bank. 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 of PCC, 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 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 ROU 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. The Company also offers facility specific / loan level swaps to its customers and offsets its exposure from such contracts by entering into mirror image swaps with a financial institution / swap counterparty (loan level / back to back swap program). The customer accommodations and any offsetting swaps are treated as non-hedging derivative instruments which do not qualify for hedge accounting (“standalone derivatives”). The notional amount of the 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 contracts. The fair value of the swaps is recorded as both an asset and a liability, in other assets and other liabilities, respectively, in equal amounts for these transactions. The Company is exposed to losses if a customer counterparty fails to make its payments under a contract in which the Company is in a net receiving position. At this time, the Company anticipates that its counterparties will be able to fully satisfy their obligations under the agreements. All of the contracts to which the Company is a party settle monthly. Further, the Company has netting agreements with the dealers with which it does business.
Income Taxes	Income Taxes: The Company files a consolidated Federal income tax return. State income tax returns are filed either on a combined or separate company basis based on the current laws and regulations of the state. 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 2017 or by state and local tax authorities for years prior to 2016. 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”): 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. In May 2020, shareholders approved an increase of 200,000 shares of Peapack-Gladstone Financial Corporation common stock to be issued under the ESPP. Subject to certain eligibility requirements and restrictions, the ESPP provided for a single Offering Period of twelve months in duration, which commenced on May 16, 2019 and ended on May 15, 2020. During the second quarter of 2020, the ESPP was revised to allow for the purchase of shares during four three-month Offering Periods. The first Offering Period under this revised plan commenced on May 16, 2020. The next three future Offering Periods commenced on August 16, November 16 and February 16. 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 $224,000, $158,000 and $189,000 of expense in salaries and employee benefits expense for the twelve months ended December 31, 2020, 2019 and 2018, respectively. Total shares issued under the ESPP were 56,849, 18,740 and 29,273 during 2020, 2019 and 2018, 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. The following table shows the calculation of both basic and diluted earnings per share for the years ended December 31, 2020, 2019 and 2018: (In thousands, except share and per share data) 2020 2019 2018 Net income available to common shareholders $ 26,192 $ 47,434 $ 44,170 Basic weighted average shares outstanding 18,896,825 19,268,870 18,965,305 Plus: common stock equivalents 184,362 142,578 183,340 Diluted weighted average shares outstanding 19,081,187 19,411,448 19,148,645 Earnings per share: Basic $ 1.39 $ 2.46 $ 2.33 Diluted 1.37 2.44 2.31 Restricted stock units totaling 393,501, A
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.
Shareholders’ Equity	Shareholders’ 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 acquisitions are amortized on an accelerated method over their estimated useful lives, which range from 5 to 15 years. Management determined that there was no impairment of goodwill or intangible assets related to the events created by the COVID-19 pandemic.
Reclassification	Reclassification: Certain reclassifications have been made in the prior periods’ financial statements in order to conform to the 2020 presentation and had no effect on the consolidated income statements or the consolidated statements of changes in shareholders’ equity.
Accounting Pronouncements	Accounting Pronouncements: 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, 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 elected to delay the adoption of ASU 2016-13, as approved by the CARES Act, until January 1, 2021. 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 ALLL as of January 1, 2021, consistent with regulatory expectations set forth in interagency guidance. The Company estimates that the one-time adjustment to our ALLL will not have a material impact on our consolidated financial condition upon adoption. In December 2019, the FASB issued ASU 2019-12, intra-period tax allocation when there is a loss from continuing operations and income or a gain from other items; exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment; exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary; and the exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. The Company is assessing ASU 2019-12 and its impact on its financial statements. In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting”. The amendments in this Update provide optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this Update apply only to contracts and hedging relationships that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. The amendments in this ASU can be adopted immediately and are effective through December 31, 2020. The Company is evaluating alternative reference rates including the Secured Overnight Financing Rate (SOFR) in preparation for a rate index replacement and the adoption of this ASU.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020, 2019 and 2018: (In thousands, except share and per share data) 2020 2019 2018 Net income available to common shareholders $ 26,192 $ 47,434 $ 44,170 Basic weighted average shares outstanding 18,896,825 19,268,870 18,965,305 Plus: common stock equivalents 184,362 142,578 183,340 Diluted weighted average shares outstanding 19,081,187 19,411,448 19,148,645 Earnings per share: Basic $ 1.39 $ 2.46 $ 2.33 Diluted 1.37 2.44 2.31

INVESTMENT SECURITIES AVAILAB_2

INVESTMENT SECURITIES AVAILABLE FOR SALE (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 and 2019 follows: 2020 Gross Gross Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value U.S. treasuries $ 2,613 $ — $ — $ 2,613 U.S. government-sponsored agencies 84,424 2 (655 ) 83,771 Mortgage-backed securities-residential 467,915 8,604 (461 ) 476,058 SBA pool securities 49,457 31 (359 ) 49,129 State and political subdivisions 7,987 102 — 8,089 Corporate bond 3,000 29 — 3,029 Total $ 615,396 $ 8,768 $ (1,475 ) $ 622,689 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
Schedule of Securities by Maturity	The amortized cost and fair value of investment securities available for sale as of December 31, 2020, 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 $ 5,500 $ 5,515 After one year through five years 5,100 5,187 After five years through ten years 37,473 37,177 After ten years 49,951 49,623 98,024 97,502 Mortgage-backed securities-residential 467,915 476,058 SBA pool securities 49,457 49,129 Total $ 615,396 $ 622,689
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) 2020 2019 2018 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, 2020 and 2019. 2020 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 $ 73,769 $ (655 ) $ — $ — $ 73,769 $ (655 ) Mortgage-backed securities-residential 103,340 (430 ) 13,914 (31 ) 117,254 (461 ) SBA pool securities 39,720 (343 ) 2,095 (16 ) 41,815 (359 ) Total $ 216,829 $ (1,428 ) $ 16,009 $ (47 ) $ 232,838 $ (1,475 ) 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 )

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2020
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) 2020 Loans 2019 Loans Residential mortgage $ 502,829 11.50 % $ 549,138 12.50 % Multifamily mortgage 1,126,946 25.77 1,210,003 27.54 Commercial mortgage 691,294 15.81 761,244 17.32 Commercial loans (including equipment financing) (A) 1,950,981 44.62 1,756,477 39.97 Commercial construction 12,600 0.29 5,306 0.12 Home equity lines of credit 50,546 1.15 57,248 1.30 Consumer loans, including fixed rate home equity loans 37,016 0.85 54,372 1.24 Other loans 225 0.01 349 0.01 Total loans $ 4,372,437 100.00 % $ 4,394,137 100.00 % (A) The December 31, 2020 balance includes PPP loans of $195.6 million. 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) 2020 Loans 2019 Loans Primary residential mortgage $ 512,841 11.74 % $ 578,306 13.17 % Home equity lines of credit 50,545 1.16 57,248 1.30 Junior lien loan on residence 4,527 0.10 7,011 0.16 Multifamily property 1,126,946 25.79 1,210,003 27.56 Owner-occupied commercial real estate 253,447 5.80 249,419 5.68 Investment commercial real estate 995,613 22.79 1,095,182 24.95 Commercial and industrial (A) 1,059,399 24.24 867,295 19.76 Lease financing 305,931 7.00 258,401 5.89 Farmland/Agricultural production 3,068 0.07 3,043 0.07 Commercial construction 12,773 0.29 5,520 0.13 Consumer and other 44,483 1.02 58,213 1.33 Total loans $ 4,369,573 100.00 % $ 4,389,641 100.00 % Net deferred costs 2,864 4,496 Total loans including net deferred costs $ 4,372,437 $ 4,394,137 (A) The December 31, 2020 balance includes PPP loans of $195.6 million.
Schedule of loans to executives and directors	The following table shows the changes in loans to officers, directors and their associates: (In thousands) 2020 2019 Balance, beginning of year $ 4,164 $ 4,574 New loans 1,094 1,345 Repayments (1,457 ) (1,551 ) Loans with individuals no longer considered related parties — (204 ) Balance, at end of year $ 3,801 $ 4,164
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, 2020 and 2019: December 31, 2020 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 $ 1,490 $ 3 $ 511,351 $ 2,902 $ 512,841 $ 2,905 Home equity lines of credit — — 50,545 218 50,545 218 Junior lien loan on residence — — 4,527 15 4,527 15 Multifamily property — — 1,126,946 9,945 1,126,946 9,945 Owner-occupied commercial real estate 807 — 252,640 3,050 253,447 3,050 Investment commercial real estate 4,593 — 991,020 27,713 995,613 27,713 Commercial and industrial 9,314 2,700 1,050,085 16,347 1,059,399 19,047 Lease financing — — 305,931 3,936 305,931 3,936 Secured by farmland and agricultural production — — 3,068 43 3,068 43 Commercial construction — — 12,773 158 12,773 158 Consumer and other — — 44,483 279 44,483 279 Total ALLL $ 16,204 $ 2,703 $ 4,353,369 $ 64,606 $ 4,369,573 $ 67,309 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
Schedule of loans individually evaluated for impairment	The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2020 and 2019: December 31, 2020 Unpaid Average Principal Recorded Specific Impaired (In thousands) Balance Investment Reserves Loans With no related allowance recorded: Primary residential mortgage $ 1,601 $ 1,328 $ — $ 5,544 Owner-occupied commercial real estate 817 807 — 516 Investment commercial real estate 4,593 4,593 — 6,582 Commercial and industrial 7,137 4,314 — 1,677 Total loans with no related allowance $ 14,148 $ 11,042 $ — $ 14,319 With related allowance recorded: Primary residential mortgage $ 162 $ 162 $ 3 $ 526 Commercial and industrial 5,000 5,000 2,700 4,140 Total loans with related allowance $ 5,162 $ 5,162 $ 2,703 $ 4,666 Total loans individually evaluated for impairment $ 19,310 $ 16,204 $ 2,703 $ 18,985 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
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, 2020 and 2019: December 31, 2020 Loans Past Due Over 90 Days and Still (In thousands) Nonaccrual Accruing Interest Primary residential mortgage $ 1,328 $ — Owner-occupied commercial real estate 807 — Commercial and industrial 9,275 — Total $ 11,410 $ — 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 $ —
Schedule of aging of past due loans	The following tables present the recorded investment in past due loans as of December 31, 2020 and 2019 by class of loans, excluding nonaccrual loans: December 31, 2020 30-59 60-89 Greater Than Days Days 90 Days Total (In thousands) Past Due Past Due Past Due Past Due Primary residential mortgage $ 2,900 $ 141 $ — $ 3,041 Home equity lines of credit 181 — — 181 Junior lien loan on residence — 25 — 25 Multifamily property — 269 — 269 Owner-occupied commercial real estate 268 — — 268 Commercial and industrial 497 772 — 1,269 Total $ 3,846 $ 1,207 $ — $ 5,053 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
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, 2020 and 2019. December 31, 2020 Special (In thousands) Pass Mention Substandard Doubtful Primary residential mortgage $ 504,795 $ 1,398 $ 6,648 $ — Home equity lines of credit 50,068 — 477 — Junior lien loan on residence 4,483 — 44 — Multifamily property 1,121,145 5,441 360 — Owner-occupied commercial real estate 240,638 10,417 2,392 — Investment commercial real estate 893,115 91,162 11,336 — Commercial and industrial 989,281 53,604 16,514 — Lease financing 305,931 — — — Secured by farmland and agricultural 3,068 — — — Commercial construction 12,692 81 — — Consumer and other loans 44,483 — — — Total $ 4,169,699 $ 162,103 $ 37,771 $ — 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 $ —
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, 2020, 2019 and 2018. January 1, December 31, 2020 2020 Beginning Ending (In thousands) ALLL Charge-Offs Recoveries Provision ALLL Primary residential mortgage $ 2,090 $ (559 ) $ 373 $ 1,001 $ 2,905 Home equity lines of credit 128 — 11 79 218 Junior lien loan on residence 13 — — 2 15 Multifamily property 6,037 (56 ) — 3,964 9,945 Owner-occupied commercial real estate 2,064 (51 ) — 1,037 3,050 Investment commercial real estate 15,988 (6,092 ) 31 17,786 27,713 Commercial and industrial 14,353 (2,418 ) 17 7,095 19,047 Lease financing 2,642 — — 1,294 3,936 Secured by farmland and agricultural 38 — — 5 43 Commercial construction 27 — — 131 158 Consumer and other 296 (27 ) 4 6 279 Total ALLL $ 43,676 $ (9,203 ) $ 436 $ 32,400 $ 67,309 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
Schedule of loans modified as troubled debt restructurings	Details with respect to loan modifications are as follows: Post-Modification Outstanding Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 28 $ 9,900 Home equity lines of credit 3 643 Junior lien loan on residence 1 18 Multifamily property 7 22,595 Owner-occupied commercial real estate 2 990 Investment commercial real estate 3 34,416 Commercial and industrial 9 4,959 Commercial construction 1 451 Total 54 $ 73,972 The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2020: Pre-Modification Post-Modification Outstanding Outstanding Number of Recorded Recorded (Dollars in thousands) Contracts Investment Investment Primary residential mortgage 3 $ 423 $ 423 Commercial and industrial 1 39 39 Total 4 $ 462 $ 462 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 during the year ended December 31, 2020 for which there was a payment default during the same period: Number of Recorded (Dollars in thousands) Contracts Investment Primary residential mortgage 1 $ 133 Commercial and industrial 1 39 Total 2 $ 172 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

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Schedule of Premises and Equipment Including Finance Lease Right of Use Assets	The following table presents premises and equipment as of December 31, (In thousands) 2020 2019 Land and land improvements $ 6,332 $ 6,332 Buildings 12,749 12,741 Furniture and equipment 22,911 21,594 Leasehold improvements 13,479 12,228 Projects in progress 555 475 56,026 53,370 Less: accumulated depreciation 34,417 32,457 Total $ 21,609 $ 20,913 The Company has classified capital leases as a finance lease right-of-use asset under the new lease guidance for 2019. The following table presents finance lease right-of-use assets as of December 31, (In thousands) 2020 2019 Land and buildings $ 11,237 $ 11,237 Less: accumulated depreciation 6,907 6,159 Total $ 4,330 $ 5,078
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, 2020: (In thousands) 2021 $ 1,233 2022 1,391 2023 1,456 2024 1,456 2025 939 Thereafter 1,344 Total minimum lease payments 7,819 Less: amount representing interest 1,066 Present value of net minimum lease payments $ 6,753

OTHER REAL ESTATE OWNED (Tables

OTHER REAL ESTATE OWNED (Tables)	12 Months Ended
	Dec. 31, 2020
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) 2020 2019 Balance, beginning of year $ 50 $ — OREO properties added — 386 Sales during year — (336 ) Balance, end of year $ 50 $ 50 The following table shows the activity in the valuation allowance for the years ended December 31: (In thousands) 2020 2019 2018 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) 2020 2019 2018 Net loss/(gain) on sales $ — $ — $ 58 Provision for unrealized losses — — 232 Operating expenses, net of rental income 22 9 190 Total $ 22 $ 9 $ 480

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2020
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) 2020 2019 Noninterest-bearing demand deposits $ 833,500 17.30 % $ 529,281 12.47 % Interest-bearing checking (1) 1,849,254 38.38 1,510,363 35.59 Savings 130,731 2.71 112,652 2.66 Money market 1,298,885 26.96 1,196,313 28.19 Certificates of deposit - retail 530,222 11.00 633,763 14.94 Certificates of deposit - listing service 32,128 0.67 47,430 1.12 Subtotal deposits 4,674,720 97.02 4,029,802 94.97 Interest-bearing demand - Brokered 110,000 2.28 180,000 4.24 Certificates of deposit - Brokered 33,764 0.70 33,709 0.79 Total deposits $ 4,818,484 100.00 % $ 4,243,511 100.00 % (1) Interest-bearing checking includes $652.5 million at December 31, 2020 and $423.8 million at December 31, 2019 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace programs.
Scheduled Maturities of Time Deposits	The scheduled maturities of time deposits as of December 31, 2020 are as follows: (In thousands) 2021 $ 462,402 2022 65,553 2023 10,095 2024 25,234 2025 29,332 Over 5 Years 3,498 Total $ 596,114

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Recurring Basis	The following table summarizes, at the dates 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, 2020 (Level 1) (Level 2) (Level 3) Assets: Securities available for sale: U.S. treasuries $ 2,613 $ — $ 2,613 $ — U.S. government-sponsored agencies 83,771 — 83,771 — Mortgage-backed securities-residential 476,058 — 476,058 — SBA pool securities 49,129 — 49,129 — State and political subdivisions 8,089 — 8,089 — Corporate bond 3,029 — 3,029 — CRA investment fund 15,117 15,117 — — Loans held for sale, at fair value 13,588 — 13,588 — Derivatives: Loan level swaps 79,529 — 79,529 — Total $ 730,923 $ 15,117 $ 715,806 $ — Liabilities: Derivatives: Cash flow hedges $ 9,616 $ — $ 9,616 $ — Loan level swaps 79,529 — 79,529 — Total $ 89,145 $ — $ 89,145 $ — (In thousands) December 31, 2019 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 $ —
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, 2020 December 31, 2019 Residential loans contractual balance $ 13,295 $ 2,839 Fair value adjustment 293 42 Total fair value of residential loans held for sale $ 13,588 $ 2,881
Schedule of Assets Measured at Fair Value on Non-Recurring Basis	The following table summarizes, at the dates 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, 2020 (Level 1) (Level 2) (Level 3) Assets: Impaired loans: Commercial and industrial $ 2,300 $ — $ — $ 2,300 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, 2020 are as follows: Fair Value Measurements at December 31, 2020 Using (In thousands) Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 653,322 $ 653,322 $ — $ — $ 653,322 Securities available for sale 622,689 — 622,689 — 622,689 CRA investment fund 15,117 15,117 — — 15,117 FHLB and FRB stock 13,709 — — — N/A Loans held for sale, at fair value 13,588 — 13,588 — 13,588 Loans held for sale, at lower of cost or fair value 18,520 — 19,115 — 19,115 Loans, net of allowance for loan losses 4,305,128 — — 4,462,243 4,462,243 Accrued interest receivable 22,495 — 1,653 20,842 22,495 Loan level swaps 79,529 — 79,529 — 79,529 Financial liabilities Deposits $ 4,818,484 $ 4,222,370 $ 604,036 $ — $ 4,826,406 Short-term borrowings 15,000 — 15,000 — 15,000 Paycheck Protection Program Liquidity Facility 177,086 — 177,086 — 177,086 Subordinated debt 181,794 — — 183,348 183,348 Accrued interest payable 1,650 150 1,347 153 1,650 Cash flow hedges 9,616 — 9,616 — 9,616 Loan level swaps 79,529 — 79,529 — 79,529 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

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	12 Months Ended
	Dec. 31, 2020
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) 2020 2019 2018 Service charges on deposits Overdraft fees $ 405 $ 662 $ 726 Interchange income 1,208 1,238 1,251 Other 1,542 1,588 1,525 Wealth management fees 40,048 37,508 32,356 Investment brokerage fees 813 855 889 (Losses)/gains on sales of OREO — — (58 ) Other (a) 17,744 12,845 7,504 Total noninterest other income $ 61,760 $ 54,696 $ 44,193 (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: 2020 Revenue by Operating Wealth Segment Banking Management Total Service charges on deposits Overdraft fees $ 405 $ — $ 405 Interchange income 1,208 — 1,208 Other 1,542 — 1,542 Wealth management fees — 40,048 40,048 Investment brokerage fees — 813 813 Other (a) 15,949 1,795 17,744 Total noninterest income $ 19,104 $ 42,656 $ 61,760 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 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 (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, 2020
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) 2020 2019 2018 Professional and legal fees $ 4,099 $ 4,506 $ 4,668 Telephone 1,432 1,361 1,077 Advertising 1,631 1,363 1,340 Provision for ORE losses — — 232 Amortization of intangible assets 1,287 1,043 1,187 Branch restructure 488 — — Other operating expenses 10,945 11,434 10,840 Total other operating expenses $ 19,882 $ 19,707 $ 19,344

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
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) 2020 2019 2018 Federal: Current (benefit)/expense $ (4,741 ) $ 5,647 $ (7,046 ) Deferred expense 10,161 6,087 16,908 State: Current expense 2,327 3,028 3,554 Deferred (benefit)/expense (1,936 ) 3,926 134 Total income tax expense $ 5,811 $ 18,688 $ 13,550
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 2020, 2019, and (In thousands) 2020 2019 2018 Computed “expected” tax expense $ 6,721 $ 13,886 $ 12,121 (Decrease)/increase in taxes resulting from: Tax-exempt income (287 ) (431 ) (402 ) State income taxes, net of Federal benefit 1,813 2,540 2,942 Impact of state tax reform, net of Federal benefit — 2,954 — Bank owned life insurance income (267 ) (277 ) (290 ) Life insurance expense 225 234 148 Gain on death benefit — — (630 ) Interest disallowance 66 146 115 Meals and entertainment expense 40 40 25 Stock-based compensation 569 (46 ) (481 ) Impact of CARES Act (3,009 ) — — Other (60 ) (358 ) 2 Total income tax expense $ 5,811 $ 18,688 $ 13,550
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) 2020 2019 Deferred tax assets: Allowance for loan losses $ 18,044 $ 11,369 Tax net operating loss carryforward 3,476 6,163 Organization costs 12 13 Cash flow hedge 2,703 925 Unrealized loss on equity security — 43 Stock option expense 2,131 2,874 Nonaccrual interest 24 74 Accrued compensation 4,058 2,956 Accrued expenses 1,420 1,402 Lease liabilities 2,610 3,234 Finance lease 762 768 Other 52 188 Total gross deferred tax assets $ 35,292 $ 30,009 Deferred tax liabilities: Lease financing $ 55,823 $ 44,841 Unrealized gain on securities available for sale 1,772 330 Unrealized gain on equity security 31 — Deferred loan origination costs and fees 1,175 1,355 Deferred income 5,205 5,329 Amortization of intangible assets 1,738 239 Purchase accounting — 908 Lease right-of-use asset 2,526 3,158 Total gross deferred tax liabilities 68,270 56,160 Net deferred tax liability $ (32,978 ) $ (26,151 )

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Changes in Options Outstanding	Changes in options outstanding during 2020 were as follows: Weighted Weighted Average Aggregate Average Remaining Intrinsic Number of Exercise Contractual Value Options Price Term (In Thousands) Balance, January 1, 2020 71,420 $ 13.57 Exercised during 2020 (19,860 ) 13.60 Expired during 2020 - - Forfeited during 2020 (900 ) 11.73 Balance, December 31, 2020 50,660 $ 13.59 1.55 years $ 465 Vested and expected to vest 50,660 $ 13.59 1.55 years $ 465 Exercisable at December 31, 2020 50,660 $ 13.59 1.55 years $ 465
Schedule of Changes in Non-Vested Performance-Based Shares	Changes in non-vested shares dependent on performance criteria for 2020 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2020 90,768 $ 30.60 Granted during 2020 130,832 13.44 Balance, December 31, 2020 221,600 $ 20.47
Schedule of Changes in Service-Based Restricted Stock Units	Changes in service based restricted stock units for 2020 were as follows: Weighted Average Number of Grant Date Shares Fair Value Balance, January 1, 2020 432,728 $ 29.65 Granted during 2020 528,038 14.08 Vested during 2020 (173,769 ) 28.91 Forfeited during 2020 (9,831 ) 29.20 Balance, December 31, 2020 777,166 $ 19.24

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020: (In thousands) 2020 $ 2,659 2021 2,113 2022 1,742 2023 1,296 2024 1,068 Thereafter 1,896 Total lease payments 10,774 Less: imputed interest 1,037 Total present value of lease payments $ 9,737
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 years ended December 31: (In thousands) 2020 2019 Right-of-use asset obtained in exchange for lease obligation $ 457 $ 7,012 Operating cash flows from operating leases 2,809 2,623 Operating cash flows from direct finance leases 343 382 Financing cash flows from direct finance leases 748 748

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020: Total capital (to risk-weighted assets) $ 600,478 14.81 % $ 405,587 10.00 % $ 324,469 8.00 % $ 425,866 10.50 % Tier I capital (to risk-weighted assets) 549,575 13.55 324,469 8.00 243,352 6.00 344,749 8.50 Common equity tier I (to risk-weighted assets) 549,540 13.55 263,631 6.50 182,514 4.50 283,911 7.00 Tier I capital (to average assets) 549,575 9.71 283,083 5.00 226,466 4.00 226,466 4.00 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 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, 2020: Total capital (to risk-weighted assets) $ 716,210 17.67 % N/A N/A $ 324,322 8.00 % $ 425,673 10.50 % Tier I capital (to risk-weighted assets) 483,535 11.93 N/A N/A 243,242 6.00 344,592 8.50 Common equity tier I (to risk-weighted assets) 483,500 11.93 N/A N/A 182,431 4.50 283,782 7.00 Tier I capital (to average assets) 483,535 8.53 N/A N/A 226,624 4.00 226,624 4.00 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 (A) The Basel Rules require the Company and the Bank to maintain a 2.5 percent “capital conservation buffer” on top of the minimum risk-weighted asset ratios. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of (i) CET1 to risk-weighted assets, (ii) Tier 1 capital to risk-weighted assets or (iii) total capital to risk-weighted assets above the respective minimum but below the capital conservation buffer face constraints on dividends, equity repurchases and discretionary bonus payments to executive officers based on the amount of the shortfall.

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 and 2019 is presented in the following table: (Dollars in thousands) 2020 2019 Notional amount $ 270,000 $ 245,000 Weighted average pay rate 1.93 % 2.05 % Weighted average receive rate 0.22 % 1.83 % Weighted average maturity 2.02 years 2.45 years Unrealized (loss)/gain, net $ (9,616 ) $ (3,667 ) Number of contracts 13 12
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: 2020 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 $ (5,860 ) $ (89 ) $ — 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 ) $ —
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, 2020 and 2019: December 31, 2020 Notional Fair (In thousands) Amount Value Interest rate swaps related to interest-bearing deposits $ 270,000 $ (9,616 ) Total included in other assets — — Total included in other liabilities 270,000 (9,616 ) 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 )
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, 2020 December 31, 2019 Notional amount $ 823,134 $ 793,875 Fair value $ 79,529 $ 32,381 Weighted average pay rates 4.02 % 4.12 % Weighted average receive rates 1.91 % 3.54 % Weighted average maturity 6.5 years 7.3 years Number of contracts 95 91

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020, 2019 and 2018: Year Ended December 31, 2020 Wealth (In thousands) Banking Management Total Net interest income $ 121,583 $ 6,019 $ 127,602 Noninterest income 19,104 42,656 61,760 Total income 140,687 48,675 189,362 Provision for loan losses 32,400 — 32,400 Compensation and benefits 54,044 23,472 77,516 Premises and equipment expense 14,056 2,321 16,377 FDIC expense 1,975 — 1,975 Other noninterest expense 19,694 9,397 29,091 Total noninterest expense 122,169 35,190 157,359 Income before income tax expense 18,518 13,485 32,003 Income tax expense 2,170 3,641 5,811 Net income $ 16,348 $ 9,844 $ 26,192 Total assets at period end $ 5,798,770 $ 91,672 $ 5,890,442 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

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020, 2019 and 2018: Identifiable (In thousands) Goodwill Intangible Assets Balance as of January 1, 2018 $ 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 Acquisitions during the period $ 2,895 $ 1,695 Amortization during the period — 1,287 Balance as of December 31, 2020 $ 33,103 $ 10,788
Schedule of Estimated Amortization Expense	Estimated amortization expense for each of the next five years is shown in the table below. (In thousands) 2021 $ 1,472 2022 1,316 2023 1,066 2024 834 2025 834

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020, 2019 and 2018: 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) 2019 Reclassifications Income/(Loss) 2020 2020 Net unrealized holding gain/(loss) on securities available for sale, net of tax $ 1,006 $ 4,515 $ — $ 4,515 $ 5,521 Gains/(losses) on cash flow hedge (2,501 ) (4,346 ) (66 ) (4,412 ) (6,913 ) Accumulated other comprehensive income/(loss), net of tax $ (1,495 ) $ 169 $ (66 ) $ 103 $ (1,392 ) 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 income/(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 gain/(loss) on securities available for sale, net of tax $ (2,214 ) $ 127 $ (1,137 ) $ 218 $ (919 ) $ (3,006 ) Gains/(losses) on cash flow hedge 1,002 $ — $ (247 ) $ (94 ) $ (341 ) $ 661 Accumulated other comprehensive income/(loss), net of tax $ (1,212 ) $ 127 $ (1,384 ) $ 124 $ (1,260 ) $ (2,345 )
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, 2020, 2019 and 2018: Years Ended December 31, (In thousands) 2020 2019 2018 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 Tax effect — — (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 $ (89 ) $ (223 ) $ (124 ) Interest expense Tax effect 23 67 30 Income tax expense Total reclassifications, net of tax $ (66 ) $ (156 ) $ (94 )

CONDENSED FINANCIAL STATEMENT_2

CONDENSED FINANCIAL STATEMENTS OF PEAPACK-GLADSTONE FINANCIAL CORPORATION (PARENT COMPANY ONLY) (Tables)	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Schedule of Condensed Statements of Condition	STATEMENTS OF CONDITION December 31, (In thousands) 2020 2019 Assets Cash $ 117,670 $ 13,931 Interest-earning deposits 523 523 Total cash and cash equivalents 118,193 14,454 Investment in subsidiary 593,162 567,964 Other assets 6 4,920 Total assets $ 711,361 $ 587,338 Liabilities Subordinated debt $ 181,794 $ 83,417 Other liabilities 2,445 269 Total liabilities 184,239 83,686 Shareholders’ equity Common stock 16,958 16,733 Surplus 326,592 319,375 Treasury stock (36,477 ) (29,990 ) Retained earnings 221,441 199,029 Accumulated other comprehensive loss (1,392 ) (1,495 ) Total shareholders’ equity 527,122 503,652 Total liabilities and shareholders’ equity $ 711,361 $ 587,338
Schedule of Condensed Statements of Income	STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Years Ended December 31, (In thousands) 2020 2019 2018 Income Dividend from Bank $ 13,000 $ 31,000 $ — Other income 2 6 4 Total income 13,002 31,006 4 Expenses Interest expense 4,992 4,895 4,887 Other expenses 948 721 480 Total expenses 5,940 5,616 5,367 Income/(loss) before income tax benefit and equity in undistributed earnings of Bank 7,062 25,390 (5,363 ) Income tax benefit (1,247 ) (1,178 ) (1,123 ) Net income/(loss) before equity in undistributed earnings of Bank 8,309 26,568 (4,240 ) Equity in undistributed earnings of Bank/(dividends in excess of earnings) 17,883 20,866 48,410 Net income $ 26,192 $ 47,434 $ 44,170 Other comprehensive income/(loss) 103 850 (1,260 ) Comprehensive income $ 26,295 $ 48,284 $ 42,910
Schedule of Condensed Statements of Cash Flows	STATEMENTS OF CASH FLOWS Years Ended December 31, (In thousands) 2020 2019 2018 Cash flows from operating activities: Net income $ 26,192 $ 47,434 $ 44,170 Undistributed earnings of Bank (17,883 ) (20,866 ) (48,410 ) Amortization of subordinated debt costs 234 224 171 Decrease/(increase) in other assets 4,914 (1,186 ) (1,183 ) Increase/(decrease) in other liabilities 2,176 (24 ) (256 ) Net cash provided by/(used in) operating activities 15,633 25,582 (5,508 ) Cash flows from investing activities: Capital contribution to subsidiary — — (9,322 ) Net cash used in investing activities — — (9,322 ) Cash flows from financing activities: Cash dividends paid on common stock (3,780 ) (3,865 ) (3,712 ) Exercise of stock options, net of stock swaps 230 251 275 Proceeds from issuance of subordinated debt 98,143 — — Issuance of common shares (DRIP program) — — 16,677 Shares repurchase (6,487 ) (21,002 ) — Net cash provided by/(used in) financing activities 88,106 (24,616 ) 13,240 Net increase/(decrease) in cash and cash equivalents 103,739 966 (1,590 ) Cash and cash equivalents at beginning of period 14,454 13,488 15,078 Cash and cash equivalents at end of period $ 118,193 $ 14,454 $ 13,488

SUPPLEMENTAL DATA (unaudited) (

SUPPLEMENTAL DATA (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
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 2020 Quarterly Data: (In thousands, except per share data) March 31 June 30 September 30 December 31 Interest income $ 45,395 $ 41,649 $ 40,174 $ 38,532 Interest expense 13,648 9,678 8,025 6,797 Net interest income 31,747 31,971 32,149 31,735 Provision for loan losses 20,000 4,900 5,150 2,350 Wealth management fee income 9,955 9,996 10,119 10,791 Securities gains/(losses), net 198 125 — (42 ) Other income 4,364 2,505 10,092 3,657 Operating expenses 28,235 29,014 28,461 39,249 (Loss)/income before income tax (benefit)/expense (1,971 ) 10,683 18,749 4,542 Income tax (benefit)/expense (3,344 ) 2,441 5,202 1,512 Net income $ 1,373 $ 8,242 $ 13,547 $ 3,030 Earnings per share-basic $ 0.07 $ 0.44 $ 0.72 $ 0.16 Earnings per share-diluted 0.07 0.43 0.71 0.16 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 gains/(losses), 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

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)	3 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)segmentshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)shares	May 31, 2020shares
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		$ 65,500,000	$ 51,900,000
Threshold period for loan		30 days
Threshold for determining nonaccrual status		90 days
Loan modifications		$ 946,300,000
Post-modification outstanding recorded investment		$ 462,000	$ 6,558,000	$ 16,111,000
Sale of loans servicing released to third party	$ 355,000,000
Issuance of shares for Employee Stock Purchase Plan, shares | shares		56,849	18,740	29,273
Antidilutive securities | shares		393,501	277,677	257,422
Stock dividends excess threshold percentage		20.00%
Stock dividend threshold or less percentage		20.00%
Goodwill impairment loss		$ 0
Employee Stock Option [Member]
Summary Of Significant Accounting Policies [Line Items]
Option term		10 years
Compensation cost		$ 0	$ 0	$ 0
Employee Stock [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of share purchase rights authorized | shares		150,000			200,000
Share purchase rights offering period		12 months
Percentage of closing market price on purchase date		85.00%
Compensation cost		$ 224,000	$ 158,000	$ 189,000
Premises [Member]
Summary Of Significant Accounting Policies [Line Items]
Useful life		40 years
U.S. Small Business Administration (SBA) Loans [Member]
Summary Of Significant Accounting Policies [Line Items]
Paycheck protection program, maximum credit facility		$ 600,000,000
Paycheck protection program loans remaining balance		195,600,000
Deferral [Member]
Summary Of Significant Accounting Policies [Line Items]
Post-modification outstanding recorded investment		$ 73,972,000
Special Mention [Member]
Summary Of Significant Accounting Policies [Line Items]
Loan reserve multiple		2.25	2.25
Substandard [Member]
Summary Of Significant Accounting Policies [Line Items]
Loan reserve multiple		3.5	3.5
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		$ 6,000,000	$ 4,600,000
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Cash equivalents original maturities period		90 days
Paycheck protection loans repayment period		5 years
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]
Paycheck protection loans repayment period		2 years
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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Net income available to common shareholders									$ 26,192	$ 47,434	$ 44,170
Basic weighted average shares outstanding									18,896,825	19,268,870	18,965,305
Plus: common stock equivalents									184,362	142,578	183,340
Diluted weighted average shares outstanding									19,081,187	19,411,448	19,148,645
Earnings per share:
Basic	$ 0.16	$ 0.72	$ 0.44	$ 0.07	$ 0.64	$ 0.63	$ 0.59	$ 0.59	$ 1.39	$ 2.46	$ 2.33
Diluted	$ 0.16	$ 0.71	$ 0.43	$ 0.07	$ 0.64	$ 0.63	$ 0.59	$ 0.58	$ 1.37	$ 2.44	$ 2.31

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, 2020	Dec. 31, 2019
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	$ 615,396	$ 389,424
Gross Unrealized Gains	8,768	2,511
Gross Unrealized Losses	(1,475)	(1,180)
Fair Value	622,689	390,755
U.S. Treasuries [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	2,613
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	2,613
U.S. Government-Sponsored Agencies [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	84,424	34,961
Gross Unrealized Gains	2	37
Gross Unrealized Losses	(655)	(214)
Fair Value	83,771	34,784
Mortgage-Backed Securities-Residential [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	467,915	337,489
Gross Unrealized Gains	8,604	2,365
Gross Unrealized Losses	(461)	(950)
Fair Value	476,058	338,904
SBA Pool Securities [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	49,457	2,799
Gross Unrealized Gains	31	0
Gross Unrealized Losses	(359)	(15)
Fair Value	49,129	2,784
State and Political Subdivisions [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	7,987	11,175
Gross Unrealized Gains	102	41
Gross Unrealized Losses	0	(1)
Fair Value	8,089	11,215
Corporate Bond [Member]
Schedule Of Available For Sale Securities [Line Items]
Amortized Cost	3,000	3,000
Gross Unrealized Gains	29	68
Gross Unrealized Losses	0	0
Fair Value	$ 3,029	$ 3,068

INVESTMENT SECURITIES AVAILAB_4

INVESTMENT SECURITIES AVAILABLE FOR SALE (Schedule of Securities by Maturity) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amortized Cost
Due in one year or less	$ 5,500
Due after one year through five years	5,100
Due after five years through ten years	37,473
Due after ten years	49,951
Total	98,024
Total Amortized Cost	615,396	$ 389,424
Fair Value
Due in one year or less	5,515
Due after one year through five years	5,187
Due after five years through ten years	37,177
Due after ten years	49,623
Total	97,502
Total Fair Value	622,689	390,755
Mortgage-Backed Securities-Residential [Member]
Amortized Cost
Securities not due at a single maturity	467,915
Total Amortized Cost	467,915	337,489
Fair Value
Securities not due at a single maturity	476,058
Total Fair Value	476,058	338,904
SBA Pool Securities [Member]
Amortized Cost
Securities not due at a single maturity	49,457
Total Amortized Cost	49,457	2,799
Fair Value
Securities not due at a single maturity	49,129
Total Fair Value	$ 49,129	$ 2,784

INVESTMENT SECURITIES AVAILAB_5

INVESTMENT SECURITIES AVAILABLE FOR SALE - Additional Information (Details) - USD ($)	3 Months Ended							12 Months Ended
	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Available For Sale Securities [Line Items]
Available-for-sale Securities	$ 598,300,000			$ 374,600,000				$ 598,300,000	$ 374,600,000
Other than temporary impairment charges								0	0	$ 0
Investment with fair value classified as equity security	15,117,000			10,836,000				15,117,000	10,836,000
Securities gains/(losses), net	(42,000)	$ 125,000	$ 198,000	(45,000)	$ 34,000	$ 69,000	$ 59,000	281,000	117,000	(393,000)
CRA Investment Fund [Member]
Schedule Of Available For Sale Securities [Line Items]
Investment with fair value classified as equity security	$ 15,100,000			$ 10,800,000				15,100,000	10,800,000
Securities gains/(losses), net								$ 281,000	$ 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, 2020	Dec. 31, 2019	Dec. 31, 2018
Investment Securities Available For Sale [Abstract]
Proceeds on sales	$ 0	$ 0	$ 19,542
Gross gains	0	0	45
Gross losses	0	0	(333)
Net tax benefit	$ 0	$ 0	$ (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, 2020	Dec. 31, 2019
Approximate Fair Value
Less Than 12 Months	$ 216,829	$ 99,523
12 Months or Longer	16,009	71,926
Total	232,838	171,449
Unrealized Losses
Less Than 12 Months	(1,428)	(597)
12 Months or Longer	(47)	(583)
Total	(1,475)	(1,180)
12 Months or Longer	16,009	71,926
Total	232,838	171,449
U.S. Government-Sponsored Agencies [Member]
Approximate Fair Value
Less Than 12 Months	73,769	19,758
12 Months or Longer	0	0
Total	73,769	19,758
Unrealized Losses
Less Than 12 Months	(655)	(214)
12 Months or Longer	0	0
Total	(655)	(214)
12 Months or Longer	0	0
Total	73,769	19,758
Mortgage-Backed Securities-Residential [Member]
Approximate Fair Value
Less Than 12 Months	103,340	78,982
12 Months or Longer	13,914	69,142
Total	117,254	148,124
Unrealized Losses
Less Than 12 Months	(430)	(382)
12 Months or Longer	(31)	(568)
Total	(461)	(950)
12 Months or Longer	13,914	69,142
Total	117,254	148,124
SBA Pool Securities [Member]
Approximate Fair Value
Less Than 12 Months	39,720	0
12 Months or Longer	2,095	2,784
Total	41,815	2,784
Unrealized Losses
Less Than 12 Months	(343)	0
12 Months or Longer	(16)	(15)
Total	(359)	(15)
12 Months or Longer	2,095	2,784
Total	$ 41,815	2,784
State and Political Subdivisions [Member]
Approximate Fair Value
Less Than 12 Months		783
12 Months or Longer		0
Total		783
Unrealized Losses
Less Than 12 Months		(1)
12 Months or Longer		0
Total		(1)
12 Months or Longer		0
Total		$ 783

LOANS (Schedule of Loans Outsta

LOANS (Schedule of Loans Outstanding, by Type of Loan) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Total loans		$ 4,372,437	$ 4,394,137
Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)		100.00%	100.00%
Unallocated Financing Receivables [Member]
Total loans		$ 225	$ 349
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		$ 502,829	$ 549,138
Residential Mortgage [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)		11.50%	12.50%
Multifamily Property [Member] | Residential Portfolio Segment [Member]
Total loans		$ 1,126,946	$ 1,210,003
Multifamily Property [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)		25.77%	27.54%
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans		$ 691,294	$ 761,244
Commercial Mortgage [Member] | Commercial Real Estate Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)		15.81%	17.32%
Commercial Loans Including Equipment Financing [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	[1]	$ 1,950,981	$ 1,756,477
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)	[1]	44.62%	39.97%
Construction [Member] | Commercial Portfolio Segment [Member]
Total loans		$ 12,600	$ 5,306
Construction [Member] | Commercial Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)		0.29%	0.12%
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Total loans		$ 50,546	$ 57,248
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member] | Loans and Finance Receivables, Gross [Member] | Credit Concentration Risk [Member]
Total loans (in percent)		1.15%	1.30%
Consumer Loans, Including Home Equity Loans [Member] | Consumer and Other Loans [Member]
Total loans		$ 37,016	$ 54,372
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)		0.85%	1.24%
[1]	The December 31, 2020 balance includes PPP loans of $195.6 million.

LOANS (Schedule of Loans Outs_2

LOANS (Schedule of Loans Outstanding, by Type of Loan) (Parenthetical) (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Total loans		$ 4,372,437	$ 4,394,137
Commercial Loans Including Equipment Financing [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans	[1]	1,950,981	$ 1,756,477
U.S. Small Business Administration (SBA) Loans [Member] | Commercial Loans Including Equipment Financing [Member] | Commercial Real Estate Portfolio Segment [Member]
Total loans		$ 195,600
[1]	The December 31, 2020 balance includes PPP loans of $195.6 million.

LOANS (Schedule of Loan Balance

LOANS (Schedule of Loan Balances by Portfolio Class) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Total loans		$ 4,369,573	$ 4,389,641
Net deferred costs		2,864	4,496
Total loans including net deferred costs		$ 4,372,437	$ 4,394,137
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		$ 512,841	$ 578,306
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		11.74%	13.17%
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total loans		$ 50,545	$ 57,248
Total loans including net deferred costs		$ 50,546	$ 57,248
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		1.16%	1.30%
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans		$ 1,126,946	$ 1,210,003
Total loans including net deferred costs		$ 1,126,946	$ 1,210,003
Residential Portfolio Segment [Member] | Multifamily Property [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		25.79%	27.56%
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans		$ 4,527	$ 7,011
Residential Portfolio Segment [Member] | Junior Lien [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		0.10%	0.16%
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Total loans		$ 253,447	$ 249,419
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		5.80%	5.68%
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans		$ 995,613	$ 1,095,182
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		22.79%	24.95%
Commercial Portfolio Segment [Member] | Construction [Member]
Total loans		$ 12,773	$ 5,520
Total loans including net deferred costs		$ 12,600	$ 5,306
Commercial Portfolio Segment [Member] | Construction [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		0.29%	0.13%
Consumer and Other Loans [Member]
Total loans		$ 44,483	$ 58,213
Consumer and Other Loans [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		1.02%	1.33%
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total loans	[1]	$ 1,059,399	$ 867,295
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)	[1]	24.24%	19.76%
Lease Financing [Member]
Total loans		$ 305,931	$ 258,401
Lease Financing [Member] | Commercial Portfolio Segment [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		7.00%	5.89%
Agricultural Sector [Member]
Total loans		$ 3,068	$ 3,043
Agricultural Sector [Member] | Customer Concentration Risk [Member] | Loans and Finance Receivables, Gross [Member]
Total loans (in percent)		0.07%	0.07%
[1]	The December 31, 2020 balance includes PPP loans of $195.6 million.

LOANS (Schedule of Loan Balan_2

LOANS (Schedule of Loan Balances by Portfolio Class) (Parenthetical) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Total loans	$ 4,372,437	$ 4,394,137
U.S. Small Business Administration (SBA) Loans [Member] | Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total loans	$ 195,600

LOANS - Additional Information

LOANS - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)Contract	Dec. 31, 2019USD ($)LoanContract	Dec. 31, 2018USD ($)Contract
Financing Receivable Recorded Investment Past Due [Line Items]
Loans held for sale, at lower of cost or fair value	$ 18,520,000	$ 14,667,000
Gain (loss) on loans held for sale at lower of cost or fair value	7,426,000	(10,000)	$ (4,392,000)
Impaired non-accrual loans	11,410,000	28,881,000
Transfer of loans to loans held for sale	367,477,000	15,064,000	$ 137,317,000
Charge-off	5,900,000
Impaired non-accrual loans performing troubled debt restructured	201,000	2,400,000
Allowance allocated to troubled debt restructured loans	3,000	2,800,000
Allowance allocated to non accrual loans	0	$ 2,700,000
Loan receivable, validate risk ratings performed for large sample or 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 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	$ 500,000
Bank modified loans and contracts | Contract	4	7	3
Post-modification outstanding recorded investment	$ 462,000	$ 6,558,000	$ 16,111,000
Loan modifications	946,300,000
Troubled debt restructurings specific reserves to customers	$ 3,000	2,800,000
Deferral [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Bank modified loans and contracts | Contract	536
Bank modified loans and contracts | Contract	54
Post-modification outstanding recorded investment	$ 73,972,000
Deferral [Member] | Loan Level Swaps [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Bank modified loans and contracts | Contract	2
Post-modification outstanding recorded investment	$ 29,300,000
Substandard [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Financing receivable impaired loan	16,200,000	35,900,000
Minimum [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Loan receivable, validate risk ratings performed for large sample of borrowers with relationship, value	$ 1,000,000
Minimum [Member] | Deferral [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Deferral of principal and interest periods	90 days
Maximum [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Loan receivable, validate risk ratings performed for small sample of borrowers with relationship, value	$ 1,000,000
Maximum [Member] | Deferral [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Deferral of principal and interest periods	180 days
Residential and Commercial Loans [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Transfer of loans to loans held for sale	$ 18,500,000
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
Commercial and Industrial Sector [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Loans held for sale, at lower of cost or fair value		$ 5,000,000
Number of loan sold | Loan		1
Paycheck Protection Program [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Loans held for sale, at lower of cost or fair value	355,000,000
Gain (loss) on loans held for sale at lower of cost or fair value	$ 7,400,000

LOANS (Schedule of Related Part

LOANS (Schedule of Related Party Loan Balances) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Loans receivable from executive officers and directors
Balance, beginning of year	$ 4,164	$ 4,574
New loans	1,094	1,345
Repayments	(1,457)	(1,551)
Loans with individuals no longer considered related parties		(204)
Balance, at end of year	$ 3,801	$ 4,164

LOANS (Schedule of Balances by

LOANS (Schedule of Balances by Portfolio Class, Based on Impairment Method) (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Total Loans Individually Evaluated for Impairment		$ 16,204	$ 35,924
Ending ALLL Attributable to Loans Individually Evaluated for Impairment		2,703	2,800
Total Loans Collectively Evaluated for Impairment		4,353,369	4,353,717
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		64,606	40,876
Total Loans		4,369,573	4,389,641
Total Ending ALLL		67,309	43,676	$ 38,504	$ 36,440
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total Loans Individually Evaluated for Impairment		1,490	6,890
Ending ALLL Attributable to Loans Individually Evaluated for Impairment		3	215
Total Loans Collectively Evaluated for Impairment		511,351	571,416
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		2,902	1,875
Total Loans		512,841	578,306
Total Ending ALLL		2,905	2,090	3,506	4,085
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total Loans Individually Evaluated for Impairment			3
Total Loans Collectively Evaluated for Impairment		50,545	57,245
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		218	128
Total Loans		50,545	57,248
Total Ending ALLL		218	128	164	221
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total Loans Collectively Evaluated for Impairment		1,126,946	1,210,003
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		9,945	6,037
Total Loans		1,126,946	1,210,003
Total Ending ALLL		9,945	6,037	5,959	10,007
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Loans Individually Evaluated for Impairment			19
Total Loans Collectively Evaluated for Impairment		4,527	6,992
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		15	13
Total Loans		4,527	7,011
Total Ending ALLL		15	13	15	12
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Total Loans Individually Evaluated for Impairment		807	379
Total Loans Collectively Evaluated for Impairment		252,640	249,040
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		3,050	2,064
Total Loans		253,447	249,419
Total Ending ALLL		3,050	2,064	2,614	2,385
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total Loans Individually Evaluated for Impairment		4,593	22,605
Ending ALLL Attributable to Loans Individually Evaluated for Impairment			1,000
Total Loans Collectively Evaluated for Impairment		991,020	1,072,577
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		27,713	14,988
Total Loans		995,613	1,095,182
Total Ending ALLL		27,713	15,988	14,248	11,933
Commercial Portfolio Segment [Member] | Construction [Member]
Total Loans Collectively Evaluated for Impairment		12,773	5,520
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		158	27
Total Loans		12,773	5,520
Total Ending ALLL		158	27	1	1
Consumer and Other [Member]
Total Loans Collectively Evaluated for Impairment		44,483	58,213
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		279	296
Total Loans		44,483	58,213
Total Ending ALLL		279	296	384	349
Commercial and Industrial Sector [Member] | Commercial Portfolio Segment [Member]
Total Loans Individually Evaluated for Impairment		9,314	6,028
Ending ALLL Attributable to Loans Individually Evaluated for Impairment		2,700	1,585
Total Loans Collectively Evaluated for Impairment		1,050,085	861,267
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		16,347	12,768
Total Loans	[1]	1,059,399	867,295
Total Ending ALLL		19,047	14,353	9,839	$ 6,563
Lease Financing [Member]
Total Loans Collectively Evaluated for Impairment		305,931	258,401
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		3,936	2,642
Total Loans		305,931	258,401
Total Ending ALLL		3,936	2,642
Agricultural Sector [Member]
Total Loans Collectively Evaluated for Impairment		3,068	3,043
Ending ALLL Attributable to Loans Collectively Evaluated for Impairment		43	38
Total Loans		3,068	3,043
Total Ending ALLL		$ 43	$ 38	$ 2
[1]	The December 31, 2020 balance includes PPP loans of $195.6 million.

LOANS (Schedule of Loans Indivi

LOANS (Schedule of Loans Individually Evaluated for Impairment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Unpaid Principal Balance
With no related allowance recorded	$ 14,148	$ 17,520
With related allowance recorded	5,162	22,112
Total loans individually evaluated for impairment	19,310	39,632
Recorded Investment
With no related allowance recorded	11,042	14,610
With related allowance recorded	5,162	21,314
Total loans individually evaluated for impairment	16,204	35,924
Specific Reserves	2,703	2,800
Average Impaired Loans
With no related allowance recorded	14,319	22,506
With related allowance recorded	4,666	9,528
Total loans individually evaluated for impairment	18,985	32,034
Residential Portfolio Segment [Member] | Junior Lien [Member]
Unpaid Principal Balance
With no related allowance recorded		92
Recorded Investment
With no related allowance recorded		19
Average Impaired Loans
With no related allowance recorded		29
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Unpaid Principal Balance
With no related allowance recorded	1,601	7,310
With related allowance recorded	162	819
Recorded Investment
With no related allowance recorded	1,328	6,071
With related allowance recorded	162	819
Specific Reserves	3	215
Average Impaired Loans
With no related allowance recorded	5,544	7,186
With related allowance recorded	526	1,011
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Unpaid Principal Balance
With no related allowance recorded		5
Recorded Investment
With no related allowance recorded		3
Average Impaired Loans
With no related allowance recorded		77
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Unpaid Principal Balance
With no related allowance recorded	817	450
Recorded Investment
With no related allowance recorded	807	379
Average Impaired Loans
With no related allowance recorded	516	1,099
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Unpaid Principal Balance
With no related allowance recorded	4,593	9,663
With related allowance recorded		15,064
Recorded Investment
With no related allowance recorded	4,593	8,138
With related allowance recorded		14,467
Specific Reserves		1,000
Average Impaired Loans
With no related allowance recorded	6,582	14,115
With related allowance recorded		4,832
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Unpaid Principal Balance
With no related allowance recorded	7,137
With related allowance recorded	5,000	6,229
Recorded Investment
With no related allowance recorded	4,314
With related allowance recorded	5,000	6,028
Specific Reserves	2,700	1,585
Average Impaired Loans
With no related allowance recorded	1,677
With related allowance recorded	$ 4,140	$ 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, 2020	Dec. 31, 2019
Impaired non-accrual loans	$ 11,410	$ 28,881
Loans Past Due Over 90 Days And Still Accruing Interest	0	0
Residential Portfolio Segment [Member] | Junior Lien [Member]
Impaired non-accrual loans		19
Loans Past Due Over 90 Days And Still Accruing Interest		0
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Impaired non-accrual loans	1,328	4,533
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
Loans Past Due Over 90 Days And Still Accruing Interest		0
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Impaired non-accrual loans	807	379
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
Loans Past Due Over 90 Days And Still Accruing Interest		0
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Impaired non-accrual loans	9,275	$ 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, 2020	Dec. 31, 2019
Total Past Due	$ 5,053	$ 1,910
Home Equity Lines of Credit [Member]
Total Past Due		80
30 to 59 Days Past Due [Member]
Total Past Due	3,846	1,910
30 to 59 Days Past Due [Member] | Home Equity Lines of Credit [Member]
Total Past Due		80
60 to 89 Days Past Due [Member]
Total Past Due	1,207	0
60 to 89 Days Past Due [Member] | Home Equity Lines of Credit [Member]
Total Past Due		0
Greater Than 90 Days [Member]
Total Past Due	0	0
Greater Than 90 Days [Member] | Home Equity Lines of Credit [Member]
Total Past Due		0
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total Past Due	3,041	1,264
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total Past Due	181
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total Past Due	269
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total Past Due	25
Residential Portfolio Segment [Member] | 30 to 59 Days Past Due [Member] | Primary Residential Mortgages [Member]
Total Past Due	2,900	1,264
Residential Portfolio Segment [Member] | 30 to 59 Days Past Due [Member] | Home Equity Lines of Credit [Member]
Total Past Due	181
Residential Portfolio Segment [Member] | 60 to 89 Days Past Due [Member] | Primary Residential Mortgages [Member]
Total Past Due	141	0
Residential Portfolio Segment [Member] | 60 to 89 Days Past Due [Member] | Multifamily Property [Member]
Total Past Due	269
Residential Portfolio Segment [Member] | 60 to 89 Days Past Due [Member] | Junior Lien [Member]
Total Past Due	25
Residential Portfolio Segment [Member] | Greater Than 90 Days [Member] | Primary Residential Mortgages [Member]
Total Past Due	0	0
Residential Portfolio Segment [Member] | Greater Than 90 Days [Member] | Home Equity Lines of Credit [Member]
Total Past Due	0
Residential Portfolio Segment [Member] | Greater Than 90 Days [Member] | Multifamily Property [Member]
Total Past Due	0
Residential Portfolio Segment [Member] | Greater Than 90 Days [Member] | Junior Lien [Member]
Total Past Due	0
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Total Past Due	1,269	566
Commercial Portfolio Segment [Member] | 30 to 59 Days Past Due [Member] | Commercial and Industrial Sector [Member]
Total Past Due	497	566
Commercial Portfolio Segment [Member] | 60 to 89 Days Past Due [Member] | Commercial and Industrial Sector [Member]
Total Past Due	772	0
Commercial Portfolio Segment [Member] | Greater Than 90 Days [Member] | Commercial and Industrial Sector [Member]
Total Past Due	0	$ 0
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Total Past Due	268
Commercial Real Estate Portfolio Segment [Member] | 30 to 59 Days Past Due [Member] | Owner Occupied Property [Member]
Total Past Due	268
Commercial Real Estate Portfolio Segment [Member] | Greater Than 90 Days [Member] | Owner Occupied Property [Member]
Total Past Due	$ 0

LOANS (Schedule of Risk Categor

LOANS (Schedule of Risk Category of Loans by Class of Loans) (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Total loans		$ 4,369,573	$ 4,389,641
Lease Financing [Member]
Total loans		305,931	258,401
Agricultural Sector [Member]
Total loans		3,068	3,043
Pass [Member]
Total loans		4,169,699	4,317,090
Pass [Member] | Lease Financing [Member]
Total loans		305,931	258,401
Pass [Member] | Agricultural Sector [Member]
Total loans		3,068	3,043
Special Mention [Member]
Total loans		162,103	13,643
Substandard [Member]
Total loans		37,771	58,908
Residential Portfolio Segment [Member] | Junior Lien [Member]
Total loans		4,527	7,011
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Total loans		512,841	578,306
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Total loans		50,545	57,248
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Total loans		1,126,946	1,210,003
Residential Portfolio Segment [Member] | Pass [Member] | Junior Lien [Member]
Total loans		4,483	6,992
Residential Portfolio Segment [Member] | Pass [Member] | Primary Residential Mortgages [Member]
Total loans		504,795	570,353
Residential Portfolio Segment [Member] | Pass [Member] | Home Equity Lines of Credit [Member]
Total loans		50,068	57,245
Residential Portfolio Segment [Member] | Pass [Member] | Multifamily Property [Member]
Total loans		1,121,145	1,209,288
Residential Portfolio Segment [Member] | Special Mention [Member] | Primary Residential Mortgages [Member]
Total loans		1,398	853
Residential Portfolio Segment [Member] | Special Mention [Member] | Multifamily Property [Member]
Total loans		5,441
Residential Portfolio Segment [Member] | Substandard [Member] | Junior Lien [Member]
Total loans		44	19
Residential Portfolio Segment [Member] | Substandard [Member] | Primary Residential Mortgages [Member]
Total loans		6,648	7,100
Residential Portfolio Segment [Member] | Substandard [Member] | Home Equity Lines of Credit [Member]
Total loans		477	3
Residential Portfolio Segment [Member] | Substandard [Member] | Multifamily Property [Member]
Total loans		360	715
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Total loans		995,613	1,095,182
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Owner Occupied Property [Member]
Total loans		240,638	247,388
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Investment Property [Member]
Total loans		893,115	1,053,445
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Owner Occupied Property [Member]
Total loans		10,417
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Investment Property [Member]
Total loans		91,162	6,325
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Owner Occupied Property [Member]
Total loans		2,392	2,031
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Investment Property [Member]
Total loans		11,336	35,412
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Total loans	[1]	1,059,399	867,295
Commercial Portfolio Segment [Member] | Construction [Member]
Total loans		12,773	5,520
Commercial Portfolio Segment [Member] | Pass [Member] | Commercial and Industrial Sector [Member]
Total loans		989,281	847,285
Commercial Portfolio Segment [Member] | Pass [Member] | Construction [Member]
Total loans		12,692	5,437
Commercial Portfolio Segment [Member] | Special Mention [Member] | Commercial and Industrial Sector [Member]
Total loans		53,604	6,382
Commercial Portfolio Segment [Member] | Special Mention [Member] | Construction [Member]
Total loans		81	83
Commercial Portfolio Segment [Member] | Substandard [Member] | Commercial and Industrial Sector [Member]
Total loans		16,514	13,628
Consumer and Other Loans [Member]
Total loans		44,483	58,213
Consumer and Other Loans [Member] | Pass [Member]
Total loans		$ 44,483	$ 58,213
[1]	The December 31, 2020 balance includes PPP loans of $195.6 million.

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for loan losses
Beginning ALLL				$ 43,676				$ 38,504	$ 43,676	$ 38,504	$ 36,440
Charge-Offs									(9,203)	(135)	(1,948)
Recoveries									436	1,307	462
Provision	$ 2,350	$ 5,150	$ 4,900	20,000	$ 1,950	$ 800	$ 1,150	100	32,400	4,000	3,550
Ending ALLL	67,309				43,676				67,309	43,676	38,504
Agricultural Sector [Member]
Allowance for loan losses
Beginning ALLL				38				2	38	2
Provision									5	36	2
Ending ALLL	43				38				43	38	2
Residential Portfolio Segment [Member] | Junior Lien [Member]
Allowance for loan losses
Beginning ALLL				13				15	13	15	12
Recoveries										11	68
Provision									2	(13)	(65)
Ending ALLL	15				13				15	13	15
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Allowance for loan losses
Beginning ALLL				2,090				3,506	2,090	3,506	4,085
Charge-Offs									(559)	(80)	(138)
Recoveries									373	205	160
Provision									1,001	(1,541)	(601)
Ending ALLL	2,905				2,090				2,905	2,090	3,506
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Allowance for loan losses
Beginning ALLL				128				164	128	164	221
Recoveries									11	10	10
Provision									79	(46)	(67)
Ending ALLL	218				128				218	128	164
Residential Portfolio Segment [Member] | Multifamily Property [Member]
Allowance for loan losses
Beginning ALLL				6,037				5,959	6,037	5,959	10,007
Charge-Offs									(56)
Provision									3,964	78	(4,048)
Ending ALLL	9,945				6,037				9,945	6,037	5,959
Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Allowance for loan losses
Beginning ALLL				2,064				2,614	2,064	2,614	2,385
Charge-Offs									(51)		(361)
Recoveries										1,060	66
Provision									1,037	(1,610)	524
Ending ALLL	3,050				2,064				3,050	2,064	2,614
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Allowance for loan losses
Beginning ALLL				15,988				14,248	15,988	14,248	11,933
Charge-Offs									(6,092)		(1,335)
Recoveries									31		45
Provision									17,786	1,740	3,605
Ending ALLL	27,713				15,988				27,713	15,988	14,248
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Allowance for loan losses
Beginning ALLL				14,353				9,839	14,353	9,839	6,563
Charge-Offs									(2,418)		(46)
Recoveries									17	17	109
Provision									7,095	4,497	3,213
Ending ALLL	19,047				14,353				19,047	14,353	9,839
Commercial Portfolio Segment [Member] | Lease Financing [Member]
Allowance for loan losses
Beginning ALLL				2,642				1,772	2,642	1,772	884
Provision									1,294	870	888
Ending ALLL	3,936				2,642				3,936	2,642	1,772
Commercial Portfolio Segment [Member] | Construction [Member]
Allowance for loan losses
Beginning ALLL				27				1	27	1	1
Provision									131	26
Ending ALLL	158				27				158	27	1
Consumer and Other [Member]
Allowance for loan losses
Beginning ALLL				$ 296				$ 384	296	384	349
Charge-Offs									(27)	(55)	(68)
Recoveries									4	4	4
Provision									6	(37)	99
Ending ALLL	$ 279				$ 296				$ 279	$ 296	$ 384

LOANS (Schedule of Loan Modific

LOANS (Schedule of Loan Modifications) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)Contract	Dec. 31, 2019USD ($)Contract	Dec. 31, 2018USD ($)Contract
Number of Contracts | Contract	4	7	3
Post-Modification Outstanding Recorded Investment | $	$ 462	$ 6,558	$ 16,111
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Number of Contracts | Contract	3	2	2
Post-Modification Outstanding Recorded Investment | $	$ 423	$ 530	$ 909
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Number of Contracts | Contract			1
Post-Modification Outstanding Recorded Investment | $			$ 15,202
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Number of Contracts | Contract	1	5
Post-Modification Outstanding Recorded Investment | $	$ 39	$ 6,028
Deferral [Member]
Number of Contracts | Contract	54
Post-Modification Outstanding Recorded Investment | $	$ 73,972
Deferral [Member] | Residential Portfolio Segment [Member] | Junior Lien [Member]
Number of Contracts | Contract	1
Post-Modification Outstanding Recorded Investment | $	$ 18
Deferral [Member] | Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Number of Contracts | Contract	28
Post-Modification Outstanding Recorded Investment | $	$ 9,900
Deferral [Member] | Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Number of Contracts | Contract	3
Post-Modification Outstanding Recorded Investment | $	$ 643
Deferral [Member] | Residential Portfolio Segment [Member] | Multifamily Property [Member]
Number of Contracts | Contract	7
Post-Modification Outstanding Recorded Investment | $	$ 22,595
Deferral [Member] | Commercial Real Estate Portfolio Segment [Member] | Owner Occupied Property [Member]
Number of Contracts | Contract	2
Post-Modification Outstanding Recorded Investment | $	$ 990
Deferral [Member] | Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Number of Contracts | Contract	3
Post-Modification Outstanding Recorded Investment | $	$ 34,416
Deferral [Member] | Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Number of Contracts | Contract	9
Post-Modification Outstanding Recorded Investment | $	$ 4,959
Deferral [Member] | Commercial Portfolio Segment [Member] | Construction [Member]
Number of Contracts | Contract	1
Post-Modification Outstanding Recorded Investment | $	$ 451

LOANS (Schedule of Loans Modifi

LOANS (Schedule of Loans Modified as Troubled Debt Restructurings) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)Contract	Dec. 31, 2019USD ($)Contract	Dec. 31, 2018USD ($)Contract
Number of Contracts | Contract	4	7	3
Pre-Modification Outstanding Recorded Investment	$ 462	$ 6,558	$ 16,111
Post-Modification Outstanding Recorded Investment	$ 462	$ 6,558	$ 16,111
Residential Portfolio Segment [Member] | Primary Residential Mortgages [Member]
Number of Contracts | Contract	3	2	2
Pre-Modification Outstanding Recorded Investment	$ 423	$ 530	$ 909
Post-Modification Outstanding Recorded Investment	$ 423	$ 530	$ 909
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Number of Contracts | Contract			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 | Contract	1	5
Pre-Modification Outstanding Recorded Investment	$ 39	$ 6,028
Post-Modification Outstanding Recorded Investment	$ 39	$ 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, 2020USD ($)Contract	Dec. 31, 2019USD ($)Contract
Number of Subsequently Defaulted Contracts | Contract	2	1
Subsequently Defaulted Recorded Investment | $	$ 172	$ 201
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Number of Subsequently Defaulted Contracts | Contract	1
Subsequently Defaulted Recorded Investment | $	$ 39
Primary Residential Mortgages [Member] | Residential Portfolio Segment [Member]
Number of Subsequently Defaulted Contracts | Contract	1	1
Subsequently Defaulted Recorded Investment | $	$ 133	$ 201

PREMISES AND EQUIPMENT (Schedul

PREMISES AND EQUIPMENT (Schedule of Premises and Equipment Including Finance Lease Right of Use Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Premises and equipment, gross	$ 56,026	$ 53,370
Less: accumulated depreciation	34,417	32,457
Total	21,609	20,913
Land and buildings	11,237	11,237
Less: accumulated depreciation	6,907	6,159
Total	4,330	5,078
Land and Land Improvements [Member]
Premises and equipment, excluding lease asset	6,332	6,332
Buildings [Member]
Premises and equipment, excluding lease asset	12,749	12,741
Furniture and Equipment [Member]
Premises and equipment, excluding lease asset	22,911	21,594
Leasehold Improvements [Member]
Premises and equipment, excluding lease asset	13,479	12,228
Projects in Progress [Member]
Premises and equipment, excluding lease asset	555	475
Capital Lease Asset [Member]
Premises and equipment, gross	11,237	11,237
Less: accumulated depreciation	6,907	6,159
Total	$ 4,330	$ 5,078

PREMISES AND EQUIPMENT - Additi

PREMISES AND EQUIPMENT - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation	$ 3,127,000	$ 3,122,000	$ 3,127,000
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, 2020	Dec. 31, 2019
Property Plant And Equipment [Abstract]
2021	$ 1,233
2022	1,391
2023	1,456
2024	1,456
2025	939
Thereafter	1,344
Total minimum lease payments	7,819
Less: amount representing interest	1,066
Present value of net minimum lease payments	$ 6,753	$ 7,598

OTHER REAL ESTATE OWNED - Addit

OTHER REAL ESTATE OWNED - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Other Real Estate [Abstract]
Other real estate owned	$ 50,000	$ 50,000

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, 2020	Dec. 31, 2019
Other Real Estate [Abstract]
Balance, beginning of year	$ 50	$ 0
OREO properties added	0	386
Sales during year	0	(336)
Balance, end of year	$ 50	$ 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, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Real Estate [Abstract]
Balance, beginning of year	$ 0	$ 0	$ 0
Additions charged to expense	0	0	232
Direct writedowns	0	0	(232)
Balance, end of year	$ 0	$ 0	$ 0

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Real Estate [Abstract]
Net loss/(gain) on sales			$ 58
Provision for unrealized losses			232
Operating expenses, net of rental income	$ 22	$ 9	190
Total	$ 22	$ 9	$ 480

DEPOSITS - Additional Informati

DEPOSITS - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deposits [Abstract]
Time deposits over $250,000	$ 186,300	$ 223,700

DEPOSITS (Schedule of Details o

DEPOSITS (Schedule of Details of Total Deposits) (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Deposits:
Noninterest-bearing demand deposits		$ 833,500	$ 529,281
Interest-bearing checking	[1]	1,849,254	1,510,363
Savings		130,731	112,652
Money market		1,298,885	1,196,313
Certificates of deposit - retail		530,222	633,763
Certificates of deposit - listing service		32,128	47,430
Subtotal deposits		4,674,720	4,029,802
Interest-bearing demand - Brokered		110,000	180,000
Certificates of deposit - Brokered		33,764	33,709
Total deposits		$ 4,818,484	$ 4,243,511
%
Noninterest-bearing demand deposits		17.30%	12.47%
Interest-bearing checking	[1]	38.38%	35.59%
Savings		2.71%	2.66%
Money market		26.96%	28.19%
Certificates of deposit - retail		11.00%	14.94%
Certificates of deposit - listing service		0.67%	1.12%
Subtotal deposits		97.02%	94.97%
Interest-bearing demand - Brokered		2.28%	4.24%
Certificates of deposit - Brokered		0.70%	0.79%
Total deposits		100.00%	100.00%
[1]	Interest-bearing checking includes $652.5 million at December 31, 2020 and $423.8 million at December 31, 2019 of reciprocal balances in the Reich & Tang or Promontory Demand Deposit Marketplace programs

DEPOSITS (Details of Total Depo

DEPOSITS (Details of Total Deposits) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deposits:
Reciprocal balances	$ 652.5	$ 423.8

DEPOSITS (Scheduled Maturities

DEPOSITS (Scheduled Maturities of Time Deposits) (Details) $ in Thousands	Dec. 31, 2020USD ($)
Scheduled maturities of time deposits
2021	$ 462,402
2022	65,553
2023	10,095
2024	25,234
2025	29,332
Over 5 Years	3,498
Total	$ 596,114

FEDERAL HOME LOAN BANK ADVANC_2

FEDERAL HOME LOAN BANK ADVANCES AND OTHER BORROWINGS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Advances from Federal Home Loan Banks	$ 0	$ 105,000,000
FHLB interest rate		3.20%
Prepaid FHLB advances	105,000,000
FHLB prepayment penalty	4,784,000
Short-term or overnight borrowings with FHLB	15,000,000	$ 128,100,000
Rate of overnight borrowings with FHLB		1.81%
FHLB advance	$ 15,000,000	$ 15,000,000
FHLB advance rate	0.34%	1.79%
Cash flow hedge, term	3 years
Unused commitments from FHLB	$ 1,800,000,000
Unused short-term or overnight borrowings from correspondent banks	22,000,000
Unused short-term or overnight borrowings from FRB	987,700,000,000
Borrowings from the federal reserve’s PPPLF	$ 177,086,000
Paycheck protection program liquidity facility interest rate	0.35%
Paycheck protection program liquidity facility term	2 years
Federal Reserve Bank of New York [Member]
Debt Instrument [Line Items]
Short-term or overnight borrowings with FHLB		$ 113,100,000
Residential Mortgage [Member] | Fixed Rate Advances [Member]
Debt Instrument [Line Items]
Mortgages pledged as collateral for advances		347,500,000
Multifamily Mortgage [Member] | Fixed Rate Advances [Member]
Debt Instrument [Line Items]
Mortgages pledged as collateral for advances		773,100,000
Securities [Member] | Fixed Rate Advances [Member]
Debt Instrument [Line Items]
Mortgages pledged as collateral for advances		$ 154,300,000

FAIR VALUE - Additional Informa

FAIR VALUE - Additional Information (Details) - Loans Receivable [Member] - Property A [Member]	12 Months Ended
	Dec. 31, 2020
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, 2020	Dec. 31, 2019
Securities available for sale	$ 622,689	$ 390,755
Loans held for sale, at fair value	13,588	2,881
U.S. Treasuries [Member]
Securities available for sale	2,613
U.S. Government-Sponsored Agencies [Member]
Securities available for sale	83,771	34,784
Mortgage-Backed Securities-Residential [Member]
Securities available for sale	476,058	338,904
SBA Pool Securities [Member]
Securities available for sale	49,129	2,784
State and Political Subdivisions [Member]
Securities available for sale	8,089	11,215
Corporate Bond [Member]
Securities available for sale	3,029	3,068
Recurring Basis [Member]
Loans held for sale, at fair value	13,588	2,881
Total	730,923	436,974
Derivatives	89,145	36,169
Recurring Basis [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Total	15,117	10,836
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Loans held for sale, at fair value	13,588	2,881
Total	715,806	426,138
Derivatives	89,145	36,169
Recurring Basis [Member] | U.S. Treasuries [Member]
Securities available for sale	2,613
Recurring Basis [Member] | U.S. Treasuries [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	2,613
Recurring Basis [Member] | U.S. Government-Sponsored Agencies [Member]
Securities available for sale	83,771	34,784
Recurring Basis [Member] | U.S. Government-Sponsored Agencies [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	83,771	34,784
Recurring Basis [Member] | Mortgage-Backed Securities-Residential [Member]
Securities available for sale	476,058	338,904
Recurring Basis [Member] | Mortgage-Backed Securities-Residential [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	476,058	338,904
Recurring Basis [Member] | SBA Pool Securities [Member]
Securities available for sale	49,129	2,784
Recurring Basis [Member] | SBA Pool Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	49,129	2,784
Recurring Basis [Member] | State and Political Subdivisions [Member]
Securities available for sale	8,089	11,215
Recurring Basis [Member] | State and Political Subdivisions [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	8,089	11,215
Recurring Basis [Member] | Corporate Bond [Member]
Securities available for sale	3,029	3,068
Recurring Basis [Member] | Corporate Bond [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale	3,029	3,068
Recurring Basis [Member] | CRA Investment Fund [Member]
Securities available for sale	15,117	10,836
Recurring Basis [Member] | CRA Investment Fund [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Securities available for sale	15,117	10,836
Designated as Hedging Instrument [Member] | Recurring Basis [Member]
Derivatives		121
Derivatives	9,616	3,788
Designated as Hedging Instrument [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Derivatives		121
Derivatives	9,616	3,788
Not Designated as Hedging Instrument [Member] | Recurring Basis [Member]
Derivatives	79,529	32,381
Derivatives	79,529	32,381
Not Designated as Hedging Instrument [Member] | Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Derivatives	79,529	32,381
Derivatives	$ 79,529	$ 32,381

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, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Residential loans contractual balance	$ 13,295	$ 2,839
Fair value adjustment	293	42
Total fair value of residential loans held for sale	$ 13,588	$ 2,881

FAIR VALUE (Schedule of Asset_2

FAIR VALUE (Schedule of Assets Measured on a Non-Recurring Basis) (Details) - Non-Recurring Basis [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member]
Impaired loans	$ 2,300
Commercial Portfolio Segment [Member] | Commercial and Industrial Sector [Member] | Significant Unobservable Inputs (Level 3) [Member]
Impaired loans	$ 2,300
Commercial Real Estate Portfolio Segment [Member] | Investment Property [Member]
Impaired loans		$ 13,467
Commercial Real Estate Portfolio Segment [Member] | Significant Unobservable Inputs (Level 3) [Member] | Investment Property [Member]
Impaired loans		$ 13,467

FAIR VALUE (Schedule of Financi

FAIR VALUE (Schedule of Financial Instruments) (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Financial Assets:
Securities available for sale	$ 622,689,000	$ 390,755,000
FHLB and FRB stock	13,709,000	24,068,000
Loans held for sale, at fair value	13,588,000	2,881,000
Loans held for sale, at lower of cost or fair value	18,520,000	14,667,000
Accrued interest receivable	22,495,000	10,494,000
Financial Liabilities:
Short-term borrowings	15,000,000	128,100,000
Paycheck Protection Program Liquidity Facility	177,086,000
Advances from Federal Home Loan Banks	0	105,000,000
Federal Home Loan Bank advances	0	105,000,000
Carrying Value [Member]
Financial Assets:
Cash and cash equivalents	653,322,000	208,185,000
Securities available for sale	622,689,000	390,755,000
CRA investment fund	15,117,000	10,836,000
FHLB and FRB stock	13,709,000	24,068,000
Loans held for sale, at fair value	13,588,000	2,881,000
Loans held for sale, at lower of cost or fair value	18,520,000	14,667,000
Loans, net of allowance for loan losses	4,305,128,000	4,350,461,000
Accrued interest receivable	22,495,000	10,494,000
Financial Liabilities:
Deposits	4,818,484,000	4,243,511,000
Short-term borrowings	15,000,000	128,100,000
Paycheck Protection Program Liquidity Facility	177,086,000
Advances from Federal Home Loan Banks		105,000,000
Subordinated debt	181,794,000	83,417,000
Accrued interest payable	1,650,000	2,357,000
Federal Home Loan Bank advances		105,000,000
Fair value [Member]
Financial Assets:
Cash and cash equivalents	653,322,000	208,185,000
Securities available for sale	622,689,000	390,755,000
CRA investment fund	15,117,000	10,836,000
Loans held for sale, at fair value	13,588,000	2,881,000
Loans held for sale, at lower of cost or fair value	19,115,000	15,126,000
Loans, net of allowance for loan losses	4,462,243,000	4,268,481,000
Accrued interest receivable	22,495,000	10,494,000
Financial Liabilities:
Deposits	4,826,406,000	4,247,427,000
Short-term borrowings	15,000,000	128,100,000
Paycheck Protection Program Liquidity Facility	177,086,000
Advances from Federal Home Loan Banks		108,354,000
Subordinated debt	183,348,000	86,536,000
Accrued interest payable	1,650,000	2,357,000
Federal Home Loan Bank advances		108,354,000
Fair value [Member] | Quoted Prices in Active Market For Identical Assets (Level 1) [Member]
Financial Assets:
Cash and cash equivalents	653,322,000	208,185,000
CRA investment fund	15,117,000	10,836,000
Financial Liabilities:
Deposits	4,222,370,000	3,528,609,000
Accrued interest payable	150,000	392,000
Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Securities available for sale	622,689,000	390,755,000
Loans held for sale, at fair value	13,588,000	2,881,000
Loans held for sale, at lower of cost or fair value	19,115,000	15,126,000
Accrued interest receivable	1,653,000	1,361,000
Financial Liabilities:
Deposits	604,036,000	718,818,000
Short-term borrowings	15,000,000	128,100,000
Paycheck Protection Program Liquidity Facility	177,086,000
Advances from Federal Home Loan Banks		108,354,000
Accrued interest payable	1,347,000	1,910,000
Federal Home Loan Bank advances		108,354,000
Fair value [Member] | Significant Unobservable Inputs (Level 3) [Member]
Financial Assets:
Loans, net of allowance for loan losses	4,462,243,000	4,268,481,000
Accrued interest receivable	20,842,000	9,133,000
Financial Liabilities:
Subordinated debt	183,348,000	86,536,000
Accrued interest payable	153,000	55,000
Not Designated as Hedging Instrument [Member] | Carrying Value [Member]
Financial Assets:
Derivatives	79,529,000	32,381,000
Financial Liabilities:
Derivatives	79,529,000	32,381,000
Not Designated as Hedging Instrument [Member] | Fair value [Member]
Financial Assets:
Derivatives	79,529,000	32,381,000
Financial Liabilities:
Derivatives	79,529,000	32,381,000
Not Designated as Hedging Instrument [Member] | Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Derivatives	79,529,000	32,381,000
Financial Liabilities:
Derivatives	79,529,000	32,381,000
Designated as Hedging Instrument [Member] | Carrying Value [Member]
Financial Assets:
Derivatives		121,000
Financial Liabilities:
Derivatives	9,616,000	3,788,000
Designated as Hedging Instrument [Member] | Fair value [Member]
Financial Assets:
Derivatives		121,000
Financial Liabilities:
Derivatives	9,616,000	3,788,000
Designated as Hedging Instrument [Member] | Fair value [Member] | Significant Other Observable Inputs (Level 2) [Member]
Financial Assets:
Derivatives		121,000
Financial Liabilities:
Derivatives	$ 9,616,000	$ 3,788,000

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Schedule of Noninterest Income) (Details) - USD ($)		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Service charges on deposits
Overdraft fees		$ 405,000	$ 662,000	$ 726,000
Interchange income		1,208,000	1,238,000	1,251,000
Other		1,542,000	1,588,000	1,525,000
Wealth management fees		40,048,000	37,508,000	32,356,000
Investment brokerage fees		813,000	855,000	889,000
(Losses)/gains on sales of OREO		0	0	(58,000)
Other	[1]	17,744,000	12,845,000	7,504,000
Total other income		$ 61,760,000	$ 54,696,000	$ 44,193,000
[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, 2020	Dec. 31, 2019	Dec. 31, 2018
Service charges on deposits
Overdraft fees		$ 405,000	$ 662,000	$ 726,000
Interchange income		1,208,000	1,238,000	1,251,000
Other		1,542,000	1,588,000	1,525,000
Wealth management fees		40,048,000	37,508,000	32,356,000
Investment brokerage fees		813,000	855,000	889,000
Gains/(losses) on sales of OREO		0	0	(58,000)
Other	[1]	17,744,000	12,845,000	7,504,000
Total other income		61,760,000	54,696,000	44,193,000
Banking [Member]
Service charges on deposits
Overdraft fees		405,000	662,000	726,000
Interchange income		1,208,000	1,238,000	1,251,000
Other		1,542,000	1,588,000	1,525,000
Wealth management fees		0	0	0
Investment brokerage fees		0	0	0
Gains/(losses) on sales of OREO				(58,000)
Other	[1]	15,949,000	11,511,000	6,569,000
Total other income		19,104,000	14,999,000	10,013,000
Wealth Management [Member]
Service charges on deposits
Overdraft fees		0	0	0
Interchange income		0	0	0
Other		0	0	0
Wealth management fees		40,048,000	37,508,000	32,356,000
Investment brokerage fees		813,000	855,000	889,000
Gains/(losses) on sales of OREO				0
Other	[1]	1,795,000	1,334,000	935,000
Total other income		$ 42,656,000	$ 39,697,000	$ 34,180,000
[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, 2020	Dec. 31, 2019	Dec. 31, 2018
Interchange income	$ 1,208,000	$ 1,238,000	$ 1,251,000
Loss on sale of OREO	0	0	(58,000)
Cardholder Rewards [Member]
Interchange income	$ 115,000	$ 138,000	$ 134,000

OTHER OPERATING EXPENSES (Sched

OTHER OPERATING EXPENSES (Schedule of Components of Other Operating Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other operating expenses
Professional and legal fees	$ 4,099	$ 4,506	$ 4,668
Telephone	1,432	1,361	1,077
Advertising	1,631	1,363	1,340
Provision for ORE losses			232
Amortization of intangible assets	1,287	1,043	1,187
Branch restructure	488
Other operating expenses	10,945	11,434	10,840
Total other operating expenses	$ 19,882	$ 19,707	$ 19,344

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Federal:
Current (benefit)/expense									$ (4,741)	$ 5,647	$ (7,046)
Deferred expense									10,161	6,087	16,908
State:
Current expense									2,327	3,028	3,554
Deferred (benefit)/expense									(1,936)	3,926	134
Total income tax expense	$ 1,512	$ 5,202	$ 2,441	$ (3,344)	$ 5,555	$ 5,216	$ 3,421	$ 4,496	$ 5,811	$ 18,688	$ 13,550

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($)	Jul. 01, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax rate		21.00%	21.00%	21.00%
Unrecognized tax benefits		$ 0	$ 0
Federal income tax benefit		$ 3,000,000
Operating loss for tax purposes				$ 23,000,000
Federal tax rate		21.00%	21.00%	21.00%
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

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Computed “expected” tax expense									$ 6,721	$ 13,886	$ 12,121
(Decrease)/increase in taxes resulting from:
Tax-exempt income									(287)	(431)	(402)
State income taxes, net of Federal benefit									1,813	2,540	2,942
Impact of state tax reform, net of Federal benefit										2,954
Bank owned life insurance income									(267)	(277)	(290)
Life insurance expense									225	234	148
Gain on death benefit											(630)
Interest disallowance									66	146	115
Meals and entertainment expense									40	40	25
Stock-based compensation									569	(46)	(481)
Impact of CARES Act									(3,009)
Other									(60)	(358)	2
Total income tax expense	$ 1,512	$ 5,202	$ 2,441	$ (3,344)	$ 5,555	$ 5,216	$ 3,421	$ 4,496	$ 5,811	$ 18,688	$ 13,550

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, 2020	Dec. 31, 2019
Deferred tax assets:
Allowance for loan losses	$ 18,044	$ 11,369
Tax net operating loss carryforward	3,476	6,163
Organization costs	12	13
Cash flow hedge	2,703	925
Unrealized loss on equity security		43
Stock option expense	2,131	2,874
Nonaccrual interest	24	74
Accrued compensation	4,058	2,956
Accrued expenses	1,420	1,402
Lease liabilities	2,610	3,234
Finance lease	762	768
Other	52	188
Total gross deferred tax assets	35,292	30,009
Deferred tax liabilities:
Lease financing	55,823	44,841
Unrealized gain on securities available for sale	1,772	330
Unrealized gain on equity security	31
Deferred loan origination costs and fees	1,175	1,355
Deferred income	5,205	5,329
Amortization of intangible assets	1,738	239
Purchase accounting		908
Lease right-of-use asset	2,526	3,158
Total gross deferred tax liabilities	68,270	56,160
Net deferred tax liability	$ (32,978)	$ (26,151)

BENEFIT PLANS - Additional Info

BENEFIT PLANS - Additional Information (Details) - 401(K) Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Company contribution percentage of compensation for each employee	0.00%	2.00%	3.00%
Contributions to the plan	$ 1.7	$ 1.7	$ 2.2

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant	1,499,056
Closing stock price of common stock	$ 22.76
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	$ 0
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]
Shares granted	528,038
Total compensation cost	$ 6,900,000	$ 5,900,000	$ 4,600,000
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]
Stock option vesting term	3 years
Shares granted	130,832
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost	$ 11,900,000
Weighted average period over which unrecognized compensation is expected to be recognized (in years)	1 year 6 months 14 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, 2020USD ($)$ / sharesshares
Number of Options
Balance | shares	71,420
Exercised | shares	(19,860)
Forfeited | shares	(900)
Balance | shares	50,660
Vested and expected to vest | shares	50,660
Exercisable | shares	50,660
Weighted Average Exercise Price
Balance | $ / shares	$ 13.57
Exercised | $ / shares	13.60
Forfeited | $ / shares	11.73
Balance | $ / shares	13.59
Vested and expected to vest | $ / shares	13.59
Exercisable | $ / shares	$ 13.59
Weighted Average Remaining Contractual Term
Balance	1 year 6 months 18 days
Vested and expected to vest	1 year 6 months 18 days
Exercisable	1 year 6 months 18 days
Aggregate Intrinsic Value
Balance | $	$ 465
Vested and expected to vest | $	465
Exercisable | $	$ 465

STOCK-BASED COMPENSATION (Sch_2

STOCK-BASED COMPENSATION (Schedule of Changes in Restricted Common Shares) (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Performance Shares [Member]
Number of Shares
Balance at Beginning | shares	90,768
Granted | shares	130,832
Balance at end | shares	221,600
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 30.60
Granted | $ / shares	13.44
Balance at end | $ / shares	$ 20.47
Restricted stock [Member]
Number of Shares
Balance at Beginning | shares	432,728
Granted | shares	528,038
Vested | shares	(173,769)
Forfeited | shares	(9,831)
Balance at end | shares	777,166
Weighted Average Grant Date Fair Value
Balance at Beginning | $ / shares	$ 29.65
Granted | $ / shares	14.08
Vested | $ / shares	28.91
Forfeited | $ / shares	29.20
Balance at end | $ / shares	$ 19.24

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Commitments to Extend Credit [Member]
Commitment And Contingencies [Line Items]
Commitments to extend credit	$ 691.7	$ 673.8
Standby Letters of Credit [Member]
Commitment And Contingencies [Line Items]
Commitments to extend credit	17	$ 20.3
SBIC [Member]
Commitment And Contingencies [Line Items]
Unfunded commitment for investment	$ 1.1

LEASES - Additional Information

LEASES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Lessee Lease Description [Line Items]
Operating lease right-of-use assets	$ 9,421,000	$ 12,132,000	$ 7,900,000
Operating lease liabilities	$ 9,737,000	$ 12,423,000	$ 8,200,000
Weighted average discount rate	3.11%	3.05%
Weighted average lease term	6 years 3 days	6 years 3 months 29 days
Operating lease costs	$ 3,100,000	$ 2,800,000
Variable lease costs	$ 338,000	$ 329,000
Minimum [Member]
Lessee Lease Description [Line Items]
Remaining lease term	1 month	5 months
Maximum [Member]
Lessee Lease Description [Line Items]
Remaining lease term	16 years	17 years

LEASES (Schedule of Operating L

LEASES (Schedule of Operating Lease Liabilities by Contractual Maturity) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
2020	$ 2,659
2021	2,113
2022	1,742
2023	1,296
2024	1,068
Thereafter	1,896
Total lease payments	10,774
Less: imputed interest	1,037
Total present value of lease payments	$ 9,737	$ 12,423	$ 8,200

LEASES (Summary of Supplemental

LEASES (Summary of Supplemental Cash Flow Information Related to Direct Finance and Operating Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Right-of-use asset obtained in exchange for lease obligation	$ 457	$ 7,012
Operating cash flows from operating leases	2,809	2,623
Operating cash flows from direct finance leases	343	382
Financing cash flows from direct finance leases	$ 748	$ 748

REGULATORY CAPITAL (Schedule of

REGULATORY CAPITAL (Schedule of Regulatory Capital Amounts and Ratios) (Details) $ in Thousands	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
The Bank [Member]
Total Capital
Total Capital (to risk-weighted assets)	$ 600,478	$ 571,509
Total Capital (to risk-weighted assets) ratio	14.81	13.76
Minimum Capital required to be well-capitalized	$ 405,587	$ 415,487
Minimum Capital required to be well-capitalized, ratio	10	10
Minimum amount of capital for adequacy purposes	$ 324,469	$ 332,389
Minimum amount of capital for adequacy purposes, ratio	8	8
Tier I Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 549,575	$ 527,833
Tier 1 Capital (to risk-weighted assets) ratio	13.55	12.70
Minimum Tier 1 Capital required to be well-capitalized	$ 324,469	$ 332,389
Minimum Tier 1 Capital required to be well-capitalized, ratio	8	8
Minimum amount of Tier 1 Capital for adequacy purposes	$ 243,352	$ 249,292
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6	6
Common equity tier I
Common equity tier 1 (to risk-weighted assets)	$ 549,540	$ 527,832
Common equity tier I (to risk-weighted assets) ratio	13.55	12.70
Minimum Common equity tier I required to be well-capitalized	$ 263,631	$ 270,066
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	$ 182,514	$ 186,969
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)	$ 549,575	$ 527,833
Tier 1 Capital (to average assets) ratio	9.71	10.63
Minimum Tier 1 Capital required to be well-capitalized	$ 283,083	$ 248,252
Minimum Tier 1 Capital required to be well-capitalized, ratio	5	5
Minimum amount of Tier 1 Capital for adequacy purposes	$ 226,466	$ 198,602
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4	4
The Bank [Member] | Conservation Buffer [Member]
Total Capital
Minimum amount of capital for adequacy purposes	$ 425,866	$ 436,261
Minimum amount of capital for adequacy purposes, ratio	10.50	10.50
Tier I Capital (to risk-weighted assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 344,749	$ 353,164
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	8.50	8.50
Common equity tier I
Minimum amount of common equity tier I for adequacy purposes	$ 283,911	$ 290,841
Minimum amount of common equity tier I for adequacy purposes, ratio	7.00%	7.00%
Tier I Leverage Capital (to average assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 226,466	$ 198,602
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4	4
Parent Company [Member]
Total Capital
Total Capital (to risk-weighted assets)	$ 716,210	$ 590,614
Total Capital (to risk-weighted assets) ratio	17.67	14.20
Minimum amount of capital for adequacy purposes	$ 324,322	$ 332,783
Minimum amount of capital for adequacy purposes, ratio	8	8
Tier I Capital (to risk-weighted assets)
Tier 1 Capital (to risk-weighted assets)	$ 483,535	$ 463,521
Tier 1 Capital (to risk-weighted assets) ratio	11.93	11.14
Minimum amount of Tier 1 Capital for adequacy purposes	$ 243,242	$ 249,587
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	6	6
Common equity tier I
Common equity tier 1 (to risk-weighted assets)	$ 483,500	$ 463,520
Common equity tier I (to risk-weighted assets) ratio	11.93	11.14
Minimum amount of common equity tier I for adequacy purposes	$ 182,431	$ 187,190
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)	$ 483,535	$ 463,521
Tier 1 Capital (to average assets) ratio	8.53	9.33
Minimum amount of Tier 1 Capital for adequacy purposes	$ 226,624	$ 198,792
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4	4
Parent Company [Member] | Conservation Buffer [Member]
Total Capital
Minimum amount of capital for adequacy purposes	$ 425,673	$ 436,778
Minimum amount of capital for adequacy purposes, ratio	10.50	10.50
Tier I Capital (to risk-weighted assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 344,592	$ 353,582
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	8.50	8.50
Common equity tier I
Minimum amount of common equity tier I for adequacy purposes	$ 283,782	$ 291,185
Minimum amount of common equity tier I for adequacy purposes, ratio	7.00%	7.00%
Tier I Leverage Capital (to average assets)
Minimum amount of Tier 1 Capital for adequacy purposes	$ 226,624	$ 198,792
Minimum amount of Tier 1 Capital for adequacy purposes, ratio	4	4

REGULATORY CAPITAL - (Schedule

REGULATORY CAPITAL - (Schedule of Regulatory Capital Amounts and Ratios) (Parenthetical) (Details)	Dec. 31, 2020
Minimum [Member] | Conservation Buffer [Member]
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]
Minimum amount of capital for adequacy purposes, ratio	0.025

DERIVATIVES - Additional Inform

DERIVATIVES - Additional Information (Details)	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)N	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)N	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Derivative [Line Items]
Net interest income (expense)	$ 31,735,000	$ 32,149,000	$ 31,971,000	$ 31,747,000	$ 30,914,000	$ 30,085,000	$ 29,268,000	$ 30,007,000	$ 127,602,000	$ 120,274,000	$ 115,163,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 270,000,000				$ 245,000,000				270,000,000	245,000,000
Net interest income (expense)									(3,700,000)	953,000
Unrealized after-tax gain of accumulated other comprehensive income (loss)				$ 26,000			$ 189,000
Interest income									$ 89,000	$ 223,000
Derivative number of instruments terminated | N				3			4

DERIVATIVES - (Schedule of Info

DERIVATIVES - (Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges) (Details)	12 Months Ended
	Dec. 31, 2020USD ($)N	Dec. 31, 2019USD ($)N
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 270,000,000	$ 245,000,000
Fair Value	$ (9,616,000)	$ (3,667,000)
Weighted average pay rate	1.93%	2.05%
Weighted average receive rate	0.22%	1.83%
Weighted average maturity	2 years 7 days	2 years 5 months 12 days
Unrealized (loss)/gain, net	$ (9,616,000)	$ (3,667,000)
Number of contracts | N	13	12
Loan Level Swaps [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount	$ 823,134,000	$ 793,875,000
Fair Value	$ 79,529,000	$ 32,381,000
Weighted average pay rate	4.02%	4.12%
Weighted average receive rate	1.91%	3.54%
Weighted average maturity	6 years 6 months	7 years 3 months 18 days
Number of contracts | N	95	91

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Amount of Gain/(Loss) Recognized In OCI (Effective Portion)	$ (4,412)	$ (3,162)	$ (341)
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Amount of Gain/(Loss) Recognized In OCI (Effective Portion)	(5,860)	(4,252)
Amount of Gain/(Loss) Reclassified From OCI to Interest Expense	$ (89)	$ (223)

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, 2020	Dec. 31, 2019
Derivative [Line Items]
Notional Amount	$ 270,000,000	$ 245,000,000
Fair Value	(9,616,000)	(3,667,000)
Other Assets [Member]
Derivative [Line Items]
Notional Amount		70,000,000
Fair Value		121,000
Other Liabilities [Member]
Derivative [Line Items]
Notional Amount	270,000,000	175,000,000
Fair Value	$ (9,616,000)	$ (3,788,000)

SHAREHOLDERS EQUITY - Additiona

SHAREHOLDERS EQUITY - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	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			960,000
Shares purchased	220,222	739,778
Shares repurchased, average price per share	$ 29.45	$ 28.39
Shares repurchased during period, value	$ 6,487,000	$ 21,002,000
Stock repurchase program average price per share	$ 28.63
Stock repurchase total cost	$ 27,500,000
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%
Plan [Member]
Class Of Stock [Line Items]
Purchase of shares (dividend reinvestment program), shares	97,032	129,738

BUSINESS SEGMENTS - Additional

BUSINESS SEGMENTS - Additional Information (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020USD ($)	Dec. 31, 2020segment
Number of Operating Segments | segment		2
Banking [Member]
Federal income tax benefit | $	$ 3.3

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net interest income	$ 31,735	$ 32,149	$ 31,971	$ 31,747	$ 30,914	$ 30,085	$ 29,268	$ 30,007	$ 127,602	$ 120,274	$ 115,163
Noninterest income									61,760	54,696	44,193
Total income									189,362	174,970	159,356
Provision for loan losses	2,350	5,150	4,900	20,000	1,950	800	1,150	100	32,400	4,000	3,550
Compensation and benefits									77,516	70,129	62,802
Premises and equipment expense									16,377	14,735	13,497
FDIC expense									1,975	277	2,443
Other noninterest expense									29,091	19,707	19,344
Total noninterest expense									157,359	108,848	101,636
Income before income tax expense	4,542	18,749	10,683	(1,971)	17,788	17,442	14,971	15,921	32,003	66,122	57,720
Income tax expense	1,512	5,202	2,441	(3,344)	5,555	5,216	3,421	4,496	5,811	18,688	13,550
Net income	3,030	$ 13,547	$ 8,242	$ 1,373	12,233	$ 12,226	$ 11,550	$ 11,425	26,192	47,434	44,170
Total assets at period end	5,890,442				5,182,879				5,890,442	5,182,879	4,617,858
Banking [Member]
Net interest income									121,583	114,983	110,001
Noninterest income									19,104	14,999	10,013
Total income									140,687	129,982	120,014
Provision for loan losses									32,400	4,000	3,550
Compensation and benefits									54,044	48,925	44,875
Premises and equipment expense									14,056	12,533	11,747
FDIC expense									1,975	277	2,443
Other noninterest expense									19,694	10,932	11,313
Total noninterest expense									122,169	76,667	73,928
Income before income tax expense									18,518	53,315	46,086
Income tax expense									2,170	15,069	10,819
Net income									16,348	38,246	35,267
Total assets at period end	5,798,770				5,095,744				5,798,770	5,095,744	4,547,179
Wealth Management [Member]
Net interest income									6,019	5,291	5,162
Noninterest income									42,656	39,697	34,180
Total income									48,675	44,988	39,342
Provision for loan losses									0	0	0
Compensation and benefits									23,472	21,204	17,927
Premises and equipment expense									2,321	2,202	1,750
FDIC expense									0	0	0
Other noninterest expense									9,397	8,775	8,031
Total noninterest expense									35,190	32,181	27,708
Income before income tax expense									13,485	12,807	11,634
Income tax expense									3,641	3,619	2,731
Net income									9,844	9,188	8,903
Total assets at period end	$ 91,672				$ 87,135				$ 91,672	$ 87,135	$ 70,679

SUBORDINATED DEBT - Additional

SUBORDINATED DEBT - Additional Information (Details) - Subordinated Debt [Member] - USD ($)	1 Months Ended
	Dec. 31, 2020	Dec. 31, 2017	Jun. 30, 2016
Debt Instrument [Line Items]
Principal amount	$ 100,000,000	$ 35,000,000	$ 50,000,000
Non-callable term	5 years	5 years	5 years
Notes maturity date	Dec. 22, 2030	Dec. 15, 2027	Jun. 30, 2026
Fixed interest rate	3.50%	4.75%	6.00%
LIBOR spread	3.26%	2.54%	4.85%
Debt issuance costs	$ 1,800,000	$ 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, 2020USD ($)Acquisition	Dec. 31, 2019USD ($)Acquisition	Dec. 31, 2018USD ($)Acquisition	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Number of businesses acquired | Acquisition	2	1	1
Company's acquisition equity	$ 0
Fair value of total consideration transferred		$ 5,000,000	$ 4,300,000
Goodwill and identifiable intangible assets	2,900,000	5,800,000	7,300,000
Liabilities Assumed	0	0	0
Goodwill	33,103,000	30,208,000	24,417,000	$ 17,107,000
Goodwill impairment loss	0
Amortization of intangible assets	1,287,000	1,043,000	$ 1,187,000
Murphy Capital Management [Member]
Business Acquisition [Line Items]
Expense Include impairment expense		$ 405,000
Wealth Management [Member]
Business Acquisition [Line Items]
Goodwill	32,500,000
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, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill
Beginning balance	$ 30,208	$ 24,417	$ 17,107
Acquisitions	2,895	5,791	7,310
Ending balance	33,103	30,208	24,417
Identifiable Intangible Assets
Beginning balance	10,380	7,933	6,680
Acquisitions	1,695	3,490	2,440
Amortization of intangible assets	1,287	1,043	1,187
Ending balance	$ 10,788	$ 10,380	$ 7,933

ACQUISITIONS - (Schedule of Est

ACQUISITIONS - (Schedule of Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2020USD ($)
Business Combinations [Abstract]
2021	$ 1,472
2022	1,316
2023	1,066
2024	834
2025	$ 834

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 503,652	$ 469,013	$ 403,678
Total other comprehensive income/(loss)	103	850	(1,260)
Balance	527,122	503,652	469,013
Net Unrealized Holding Gain/(Loss) on Securities Available for Sale, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	1,006	(3,006)	(2,214)
Other Comprehensive Income/(Loss) Before Reclassifications	4,515	4,012	(1,137)
Amount Reclassified From Accumulated Other Comprehensive Income/(Loss)			218
Total other comprehensive income/(loss)	4,515	4,012	(919)
Balance	5,521	1,006	(3,006)
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
Gain/(Losses) on Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(2,501)	661	1,002
Other Comprehensive Income/(Loss) Before Reclassifications	(4,346)	(3,006)	(247)
Amount Reclassified From Accumulated Other Comprehensive Income/(Loss)	(66)	(156)	(94)
Total other comprehensive income/(loss)	(4,412)	(3,162)	(341)
Balance	(6,913)	(2,501)	661
Accumulated Other Comprehensive Income/(Loss), Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(1,495)	(2,345)	(1,212)
Other Comprehensive Income/(Loss) Before Reclassifications	169	1,006	(1,384)
Amount Reclassified From Accumulated Other Comprehensive Income/(Loss)	(66)	(156)	124
Total other comprehensive income/(loss)	103	850	(1,260)
Balance	$ (1,392)	$ (1,495)	(2,345)
Accumulated Other Comprehensive Income/(Loss), Net of Tax [Member] | ASU 2018-01 [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative Effect Adjustment for Adoption			$ 127

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ (6,797)	$ (8,025)	$ (9,678)	$ (13,648)	$ (14,642)	$ (15,863)	$ (15,335)	$ (14,556)	$ (38,148)	$ (60,396)	$ (44,523)
Securities losses, net	(42)		125	198	(45)	34	69	59	281	117	(393)
Income tax expense	(1,512)	(5,202)	(2,441)	3,344	(5,555)	(5,216)	(3,421)	(4,496)	(5,811)	(18,688)	(13,550)
Net income	$ 3,030	$ 13,547	$ 8,242	$ 1,373	$ 12,233	$ 12,226	$ 11,550	$ 11,425	26,192	47,434	44,170
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											(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									(89)	(223)	(124)
Income tax expense									23	67	30
Net income									$ (66)	$ (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, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash	$ 10,629	$ 6,591
Interest-earning deposits	642,591	201,492
Total cash and cash equivalents	653,322	208,185
Other assets	99,764	45,643
Total assets	5,890,442	5,182,879	$ 4,617,858
LIABILITIES
Subordinated debt	181,794	83,417
Other liabilities	121,488	65,076
Total liabilities	5,363,320	4,679,227
SHAREHOLDERS’ EQUITY
Common stock	16,958	16,733
Surplus	326,592	319,375
Treasury stock	(36,477)	(29,990)
Retained earnings	221,441	199,029
Accumulated other comprehensive loss	(1,392)	(1,495)
Total shareholders’ equity	527,122	503,652	$ 469,013	$ 403,678
Total liabilities and shareholders’ equity	5,890,442	5,182,879
Parent Company [Member]
ASSETS
Cash	117,670	13,931
Interest-earning deposits	523	523
Total cash and cash equivalents	118,193	14,454
Investment in subsidiary	593,162	567,964
Other assets	6	4,920
Total assets	711,361	587,338
LIABILITIES
Subordinated debt	181,794	83,417
Other liabilities	2,445	269
Total liabilities	184,239	83,686
SHAREHOLDERS’ EQUITY
Common stock	16,958	16,733
Surplus	326,592	319,375
Treasury stock	(36,477)	(29,990)
Retained earnings	221,441	199,029
Accumulated other comprehensive loss	(1,392)	(1,495)
Total shareholders’ equity	527,122	503,652
Total liabilities and shareholders’ equity	$ 711,361	$ 587,338

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income
Other income									$ 61,760	$ 54,696	$ 44,193
Expenses
Interest expense	$ 6,797	$ 8,025	$ 9,678	$ 13,648	$ 14,642	$ 15,863	$ 15,335	$ 14,556	38,148	60,396	44,523
Other expenses									19,882	19,707	19,344
Total expenses	39,249	28,461	29,014	28,235	26,701	26,259	26,173	25,715
Income before income tax expense	4,542	18,749	10,683	(1,971)	17,788	17,442	14,971	15,921	32,003	66,122	57,720
Income tax benefit	1,512	5,202	2,441	(3,344)	5,555	5,216	3,421	4,496	5,811	18,688	13,550
Net income	$ 3,030	$ 13,547	$ 8,242	$ 1,373	$ 12,233	$ 12,226	$ 11,550	$ 11,425	26,192	47,434	44,170
Total comprehensive income									26,295	48,284	42,910
Parent Company [Member]
Income
Dividend from Bank									13,000	31,000
Other income									2	6	4
Total income									13,002	31,006	4
Expenses
Interest expense									4,992	4,895	4,887
Other expenses									948	721	480
Total expenses									5,940	5,616	5,367
Income before income tax expense									7,062	25,390	(5,363)
Income tax benefit									(1,247)	(1,178)	(1,123)
Net income/(loss) before equity in undistributed earnings of Bank									8,309	26,568	(4,240)
Equity in undistributed earnings of Bank/(dividends in excess of earnings)									17,883	20,866	48,410
Net income									26,192	47,434	44,170
Other comprehensive income/(loss)									103	850	(1,260)
Total comprehensive income									$ 26,295	$ 48,284	$ 42,910

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities:
Net income	$ 26,192	$ 47,434	$ 44,170
Amortization of subordinated debt costs	224	224	169
(Increase)/decrease in other assets	(8,096)	5,111	(8,485)
Increase/(decrease) in other liabilities	(10,720)	12,799	(929)
Net cash provided by operating activities	36,720	86,296	64,248
Investing activities:
Net cash used in investing activities	(213,995)	(486,965)	(297,707)
Financing activities:
Cash dividends paid on common stock	(3,780)	(3,865)	(3,712)
Exercise of stock options, net stock swaps	230	251	275
Proceeds from issuance of subordinated debt	98,153
Issuance of common shares (DRIP program)			16,677
Shares repurchase	(6,487)	(21,002)
Net cash provided by financing activities	622,412	448,081	280,785
Net increase in cash and cash equivalents	445,137	47,412	47,326
Cash and cash equivalents at beginning of year	208,185	160,773	113,447
Cash and cash equivalents at end of year	653,322	208,185	160,773
Parent Company [Member]
Operating activities:
Net income	26,192	47,434	44,170
Undistributed earnings of Bank	(17,883)	(20,866)	(48,410)
Amortization of subordinated debt costs	234	224	171
(Increase)/decrease in other assets	4,914	(1,186)	(1,183)
Increase/(decrease) in other liabilities	2,176	(24)	(256)
Net cash provided by operating activities	15,633	25,582	(5,508)
Investing activities:
Capital contribution to subsidiary			(9,322)
Net cash used in investing activities			(9,322)
Financing activities:
Cash dividends paid on common stock	(3,780)	(3,865)	(3,712)
Exercise of stock options, net stock swaps	230	251	275
Proceeds from issuance of subordinated debt	98,143
Issuance of common shares (DRIP program)			16,677
Shares repurchase	(6,487)	(21,002)
Net cash provided by financing activities	88,106	(24,616)	13,240
Net increase in cash and cash equivalents	103,739	966	(1,590)
Cash and cash equivalents at beginning of year	14,454	13,488	15,078
Cash and cash equivalents at end of year	$ 118,193	$ 14,454	$ 13,488

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, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 38,532	$ 40,174	$ 41,649	$ 45,395	$ 45,556	$ 45,948	$ 44,603	$ 44,563	$ 165,750	$ 180,670	$ 159,686
Interest expense	6,797	8,025	9,678	13,648	14,642	15,863	15,335	14,556	38,148	60,396	44,523
Net interest income before provision for loan and lease losses	31,735	32,149	31,971	31,747	30,914	30,085	29,268	30,007	127,602	120,274	115,163
Provision for loan losses	2,350	5,150	4,900	20,000	1,950	800	1,150	100	32,400	4,000	3,550
Wealth management fee income	10,791	10,119	9,996	9,955	10,120	9,501	9,568	9,174	40,861	38,363	33,245
Securities gains/(losses), net	(42)		125	198	(45)	34	69	59	281	117	(393)
Other income	3,657	10,092	2,505	4,364	5,450	4,881	3,389	2,496
Operating expenses	39,249	28,461	29,014	28,235	26,701	26,259	26,173	25,715
Income before income tax expense	4,542	18,749	10,683	(1,971)	17,788	17,442	14,971	15,921	32,003	66,122	57,720
Income tax expense	1,512	5,202	2,441	(3,344)	5,555	5,216	3,421	4,496	5,811	18,688	13,550
Net income	$ 3,030	$ 13,547	$ 8,242	$ 1,373	$ 12,233	$ 12,226	$ 11,550	$ 11,425	$ 26,192	$ 47,434	$ 44,170
EARNINGS PER SHARE
Earnings per share-basic	$ 0.16	$ 0.72	$ 0.44	$ 0.07	$ 0.64	$ 0.63	$ 0.59	$ 0.59	$ 1.39	$ 2.46	$ 2.33
Earnings per share-diluted	$ 0.16	$ 0.71	$ 0.43	$ 0.07	$ 0.64	$ 0.63	$ 0.59	$ 0.58	$ 1.37	$ 2.44	$ 2.31