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Revenue (Tables) | 3 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Summary of 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.
Summary of Contract Assets and Liabilities | 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 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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