XML 30 R19.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Revenue
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table details Peoples' revenue from contracts with customers:
 Three Months EndedSix Months Ended
June 30,June 30,
(Dollars in thousands)2024202320242023
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 time3,276 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.
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 six-month period ended June 30, 2024:
 Contract AssetsContract Liabilities
(Dollars in thousands)
Balance, January 1, 2024$753 $5,776 
     Additional income receivable81 — 
     Additional deferred income— 117 
     Receipt of income previously receivable(45)— 
     Recognition of income previously deferred— (93)
Balance, June 30, 2024$789 $5,800