PEAPACK GLADSTONE FINANCIAL CORPPGC
| Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 |
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Loans, including fees | 47 | 48 | 51 | 70 | 94 | 112 | 131 | 149 | 166 | 156 | 148 | 195 |
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Taxable securities | 2 | 2 | - | - | 4 | 4 | 6 | 9 | 10 | 9 | 12 | 14 |
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Tax-exempt securities | 0 | 0 | - | - | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
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Interest-earning deposits | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 4 | 1 | 1 | 3 |
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Total interest income | - | - | - | 76 | 99 | 117 | 139 | 160 | 181 | 166 | 160 | 212 |
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Interest Expense, Savings Deposits | 2 | 0 | 1 | 2 | 2 | 3 | 6 | 13 | 19 | 7 | 7 | 24 |
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Certificates of deposit | - | - | - | 3 | 4 | 6 | 7 | 10 | 14 | 11 | 4 | 3 |
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Borrowed funds | 1 | 1 | - | - | - | 1 | 1 | 1 | 3 | 4 | 0 | 1 |
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Finance lease liability | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 0 |
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Subordinated debt | - | - | - | - | - | 2 | 3 | 5 | 5 | 5 | 7 | 5 |
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Subtotal – interest expense | - | - | - | - | 10 | 16 | 23 | 40 | 56 | 34 | 19 | 33 |
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Interest-bearing demand - brokered | - | - | - | - | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 2 |
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Interest on certificates of deposits – brokered | - | - | - | - | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 |
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Total interest expense | 7 | 5 | 4 | 8 | 15 | 21 | 28 | 45 | 60 | 38 | 22 | 36 |
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Net interest income before provision for credit losses | 49 | 51 | 53 | 68 | 84 | 96 | 111 | 115 | 120 | 128 | 138 | 176 |
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Provision for credit losses | 7 | 8 | 3 | 5 | 7 | 8 | 6 | 4 | 4 | 32 | 6 | 6 |
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Net interest income after provision for credit losses | 42 | 43 | 49 | 63 | 77 | 89 | 105 | 112 | 116 | 95 | 132 | 170 |
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Wealth management fee income | - | - | - | - | - | - | - | 33 | 38 | 41 | 53 | 55 |
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Service charges and fees | - | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 3 | 3 | 4 | 4 |
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Bank owned life insurance | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 |
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Gain Loss On Loans Held For Sale At Fair Value | - | - | 1 | 0 | 1 | 1 | 0 | 0 | 1 | 3 | 2 | 0 |
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Gain (Loss) on Sales of Loans, Net | 1 | 1 | - | - | - | - | - | - | -0 | 7 | 1 | - |
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Fee Income Related To Loan Level Back To Back Swaps | - | - | - | - | - | - | - | - | 6 | 2 | - | 0 |
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Gain on sale of SBA loans | - | - | - | - | - | - | - | 2 | 2 | 2 | 5 | 7 |
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Corporate advisory fee income | - | - | - | - | - | - | - | - | - | - | 3 | 2 |
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Loss on swap termination | - | - | - | - | - | - | - | - | - | - | -842,000 | - |
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Other income | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 5 | 3 | 2 | 3 | 5 |
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Gain (Loss) on Investments | - | - | 1 | 0 | 1 | 0 | - | -0 | 0 | 0 | -0 | -7 |
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Equity, Fair Value Adjustment | - | - | - | - | - | - | - | - | - | - | - | -2 |
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Total noninterest other income | 17 | 21 | 21 | 21 | 24 | 29 | 35 | 44 | 55 | 62 | 72 | 66 |
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Labor and Related Expense | 23 | 28 | 32 | 36 | 40 | 45 | 54 | 63 | 70 | 78 | 82 | 89 |
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Occupancy, Net | - | - | - | 10 | 12 | 11 | 12 | 13 | 15 | 16 | 17 | 19 |
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FDIC insurance expense | - | - | - | - | - | - | 2 | 2 | 0 | 2 | 2 | 2 |
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FHLB prepayment penalty | - | - | - | - | - | - | - | - | - | 5 | - | - |
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Valuation allowance loans held for sale | - | - | - | - | - | - | - | - | - | -4 | - | - |
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Swap valuation allowance | - | - | - | - | - | - | - | - | - | - | 2 | 1 |
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Other Expenses | 12 | 11 | 13 | 13 | 17 | 19 | 17 | 19 | 20 | 20 | 23 | 23 |
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Total operating expenses | - | - | - | - | 69 | 75 | 86 | 98 | 105 | 125 | 126 | 134 |
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Income before income tax expense | 14 | 16 | 15 | 24 | 32 | 43 | 54 | 58 | 66 | 32 | 78 | 102 |
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Income tax expense | 2 | 6 | 6 | 9 | 12 | 16 | 18 | 14 | 19 | 6 | 21 | 28 |
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Net income | 12 | 10 | 9 | 15 | 20 | 26 | 36 | 44 | 47 | 26 | 57 | 74 |
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Basic | 1.25 | 1.05 | 1.02 | 1.23 | 1.31 | 1.62 | 2.06 | 2.33 | 2.46 | 1.39 | 3.01 | 4.09 |
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Diluted | 1.25 | 1.05 | 1.01 | 1.22 | 1.29 | 1.6 | 2.03 | 2.31 | 2.44 | 1.37 | 2.93 | 4 |
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