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Revenue (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Summary of Revenue | The following table details Peoples' revenue from contracts with customers:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(Dollars in thousands) | 2024 | 2023 |  | 2024 | 2023
Insurance income: |  |  |  |  |
Commission and fees from sale of insurance policies (a) | $ | 4,104 |  | $ | 3,969 |  |  | $ | 8,389 |  | $ | 7,867 |
Performance-based commissions (b) | 5 |  | 35 |  |  | 2,218 |  | 1,562 |
Trust and investment income: |  |  |  |  |
Fiduciary income (a) | 3,010 |  | 2,747 |  |  | 5,767 |  | 5,204 |
Brokerage income (a) | 1,989 |  | 1,667 |  |  | 3,831 |  | 3,294 |
Electronic banking income: |  |  |  |  |
Interchange income (a) | 5,086 |  | 5,036 |  |  | 9,883 |  | 9,217 |
Promotional and usage income (a) | 1,384 |  | 1,430 |  |  | 2,633 |  | 2,692 |
Deposit account service charges: |  |  |  |  |
Ongoing maintenance fees for deposit accounts (a) | 1,716 |  | 1,623 |  |  | 3,434 |  | 3,084 |
Transaction-based fees (b) | 2,623 |  | 2,530 |  |  | 5,128 |  | 4,592 |
Commercial loan swap fees (b) | 59 |  | 118 |  |  | 111 |  | 118 |
Other non-interest income transaction-based fees (b) | 589 |  | 378 |  |  | 1,093 |  | 808 |
Total revenue from contracts with customers | $ | 20,565 |  | $ | 19,533 |  |  | $ | 42,487 |  | $ | 38,438 |
Timing of revenue recognition: |  |  |  |  |
Services transferred over time | $ | 17,289 |  | $ | 16,472 |  |  | $ | 33,937 |  | $ | 31,358 |
Services transferred at a point in time | 3,276 |  | 3,061 |  |  | 8,550 |  | 7,080 |
Total revenue from contracts with customers | $ | 20,565 |  | $ | 19,533 |  |  | $ | 42,487 |  | $ | 38,438 |
(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 six-month period ended June 30, 2024:
| Contract Assets | Contract Liabilities
(Dollars in thousands)
Balance, January 1, 2024 | $ | 753 |  | $ | 5,776 |
Additional income receivable | 81 |  | — |
Additional deferred income | — |  | 117 |
Receipt of income previously receivable | (45) |  | — |
Recognition of income previously deferred | — |  | (93) |
Balance, June 30, 2024 | $ | 789 |  | $ | 5,800 |

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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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