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Short-Term Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Short-Term Debt [Abstract]

Schedule of Short-term Borrowings

Peoples utilizes various short-term borrowings as sources of funds, which are summarized as follows at December 31:

(Dollars in thousands)			Retail Repurchase Agreements			FHLB Advances						Other			Total
2023
Ending balance			$	99,121		$	369,000					$	133,000		$	601,121
Average balance			102,530			353,532						7,495			463,557
Highest month-end balance			125,937			484,000						133,000			585,439
Interest expense			$	1,349		$	18,058					$	315		$	19,722
Weighted-average interest rate:
End of year			1.54		%	5.41		%				4.85		%	4.65		%
During the year			1.32		%	5.11		%				4.93		%	4.25		%
2022
Ending balance			$	100,138		$	400,000					$	—		$	500,138
Average balance			113,434			83,356						—			196,790
Highest month-end balance			286,442			400,000						—			500,138
Interest expense			$	274		$	2,387					$	—		$	2,661
Weighted-average interest rate:
End of year			0.40		%	4.36		%				—		%	3.57		%
During the year			0.24		%	2.86		%				—		%	1.35		%
2021
Ending balance			$	111,482		$	55,000					$	—		$	166,482
Average balance			70,674			30,289						—			100,963
Highest month-end balance			119,693			65,017						—			184,693
Interest expense			$	66		$	475					$	—		$	541
Weighted-average interest rate:
End of year			0.09		%	0.74		%				—		%	0.31		%
During the year			0.09		%	1.57		%				—		%	0.54		%

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- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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- References

No definition available.

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