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Revenue (Tables) | 9 Months Ended
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Sep. 30, 2023
Revenue from Contract with Customer [Abstract] |
Summary of Revenue | The following table details Peoples' revenue from contracts with customers:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
(Dollars in thousands) | 2023 | 2022 |  | 2023 | 2022
Insurance income: |  |  |  |  |
Commission and fees from sale of insurance policies (a) | $ | 4,133 |  | $ | 3,465 |  |  | $ | 11,844 |  | $ | 10,323 |
Fees related to third-party administration services (a) | 77 |  | 88 |  |  | 233 |  | 252 |
Performance-based commissions (b) | 40 |  | 65 |  |  | 1,602 |  | 1,420 |
Trust and investment income: |  |  |  |  |
Fiduciary income (a) | 2,506 |  | 2,376 |  |  | 7,710 |  | 7,618 |
Brokerage income (a) | 1,782 |  | 1,578 |  |  | 5,076 |  | 4,858 |
Electronic banking income: |  |  |  |  |
Interchange income (a) | 5,124 |  | 4,150 |  |  | 14,341 |  | 12,564 |
Promotional and usage income (a) | 1,342 |  | 1,111 |  |  | 4,034 |  | 3,369 |
Deposit account service charges: |  |  |  |  |
Ongoing maintenance fees for deposit accounts (a) | 1,577 |  | 1,353 |  |  | 4,661 |  | 3,971 |
Transaction-based fees (b) | 2,939 |  | 2,480 |  |  | 7,531 |  | 6,846 |
Commercial loan swap fees (b) | 475 |  | 224 |  |  | 593 |  | 662 |
Other non-interest income transaction-based fees (b) | 391 |  | 255 |  |  | 1,199 |  | 826 |
Total revenue from contracts with customers | $ | 20,386 |  | $ | 17,145 |  |  | $ | 58,824 |  | $ | 52,709 |
Timing of revenue recognition: |  |  |  |  |
Services transferred over time | $ | 16,541 |  | $ | 14,121 |  |  | $ | 47,899 |  | $ | 42,955 |
Services transferred at a point in time | 3,845 |  | 3,024 |  |  | 10,925 |  | 9,754 |
Total revenue from contracts with customers | $ | 20,386 |  | $ | 17,145 |  |  | $ | 58,824 |  | $ | 52,709 |
(a) Services transferred over time. (b) Services transferred at a point in time.
Summary of Contract Assets and Liabilities | The following table details the changes in Peoples' contract assets and contract liabilities for the nine-month period ended September 30, 2023:
| Contract Assets | Contract Liabilities
(Dollars in thousands)
Balance, January 1, 2023 | $ | 1,294 |  | $ | 5,634 |
Additional income receivable | 210 |  | — |
Additional deferred income | — |  | 106 |
Recognition of income previously deferred | — |  | (163) |
Balance, September 30, 2023 | $ | 1,504 |  | $ | 5,577 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
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