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Revenue | 3 Months Ended
--- | ---
Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue The following table details Peoples' revenue from contracts with customers:
|  |  | Three Months Ended
|  |  | March 31,
(Dollars in thousands) |  |  |  | 2024 | 2023
Insurance income: |  |  |  |  |
Commission and fees from sale of insurance policies (a) |  |  |  | $ | 4,199 |  | $ | 3,816 |
Fees related to third-party administration services (a) |  |  |  | 86 |  | 82 |
Performance-based commissions (b) |  |  |  | 2,213 |  | 1,527 |
Trust and investment income: |  |  |  |  |
Fiduciary income (a) |  |  |  | 2,757 |  | 2,457 |
Brokerage income (a) |  |  |  | 1,842 |  | 1,627 |
Electronic banking income: |  |  |  |  |
Interchange income (a) |  |  |  | 4,797 |  | 4,181 |
Promotional and usage income (a) |  |  |  | 1,249 |  | 1,262 |
Deposit account service charges: |  |  |  |  |
Ongoing maintenance fees for deposit accounts (a) |  |  |  | 1,718 |  | 1,461 |
Transaction-based fees (b) |  |  |  | 2,505 |  | 2,062 |
Commercial loan swap fees (b) |  |  |  | 52 |  | — |
Other non-interest income transaction-based fees (b) |  |  |  | 504 |  | 430 |
Total revenue from contracts with customers |  |  |  | $ | 21,922 |  | $ | 18,905 |
Timing of revenue recognition: |  |  |  |  |
Services transferred over time |  |  |  | $ | 16,648 |  | $ | 14,886 |
Services transferred at a point in time |  |  |  | 5,274 |  | 4,019 |
Total revenue from contracts with customers |  |  |  | $ | 21,922 |  | $ | 18,905 |
(a) Services transferred over time. (b) Services transferred at a point in time. Peoples records contract assets for income that has been recognized over a period of time for fulfillment of performance obligations, but has not yet been received related to electronic banking income and certain insurance income. This income typically relates to bonuses for which Peoples is eligible, but will not receive until a certain time in the future. Peoples records contract liabilities for payments received for commission income related to the sale of insurance policies, for which the performance obligations have not yet been fulfilled. The contract liabilities are recognized as income over time, during the period in which the performance obligations are fulfilled, which is over the insurance policy period. Peoples also records contract liabilities for bonuses received related to electronic banking income, for which the performance obligations have not yet been fulfilled. The contract liabilities are recognized as income over time, during the period in which the performance obligations are fulfilled related to electronic banking income. The following table details the changes in Peoples' contract assets and contract liabilities for the three-month period ended March 31, 2024:
| Contract Assets | Contract Liabilities
(Dollars in thousands)
Balance, January 1, 2024 | $ | 753 |  | $ | 5,776 |
Additional income receivable | 37 |  | — |
Additional deferred income | — |  | 26 |
Receipt of income previously receivable | (50) |  | — |
Recognition of income previously deferred | — |  | (529) |
Balance, March 31, 2024 | $ | 740 |  | $ | 5,273 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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