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Revenue (Tables) | 9 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Summary of Revenue | The following table details Peoples' revenue from contracts with customers:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
(Dollars in thousands) | 2024 | 2023 |  | 2024 | 2023
Insurance income: |  |  |  |  |
Commission and fees from sale of insurance policies (a) | $ | 4,271 |  | $ | 4,210 |  |  | $ | 12,660 |  | $ | 12,077 |
Performance-based commissions (b) | — |  | 40 |  |  | 2,218 |  | 1,602 |
Trust and investment income: |  |  |  |  |
Fiduciary income (a) | 2,838 |  | 2,506 |  |  | 8,605 |  | 7,710 |
Brokerage income (a) | 2,044 |  | 1,782 |  |  | 5,875 |  | 5,076 |
Electronic banking income: |  |  |  |  |
Interchange income (a) | 4,981 |  | 5,124 |  |  | 14,864 |  | 14,341 |
Promotional and usage income (a) | 1,378 |  | 1,342 |  |  | 4,011 |  | 4,034 |
Deposit account service charges: |  |  |  |  |
Ongoing maintenance fees for deposit accounts (a) | 1,741 |  | 1,577 |  |  | 5,175 |  | 4,661 |
Transaction-based fees (b) | 2,779 |  | 2,939 |  |  | 7,907 |  | 7,531 |
Commercial loan swap fees (b) | 163 |  | 475 |  |  | 274 |  | 593 |
Other non-interest income transaction-based fees (b) | 243 |  | 391 |  |  | 1,336 |  | 1,199 |
Total revenue from contracts with customers | $ | 20,438 |  | $ | 20,386 |  |  | $ | 62,925 |  | $ | 58,824 |
Timing of revenue recognition: |  |  |  |  |
Services transferred over time | $ | 17,253 |  | $ | 16,541 |  |  | $ | 51,190 |  | $ | 47,899 |
Services transferred at a point in time | 3,185 |  | 3,845 |  |  | 11,735 |  | 10,925 |
Total revenue from contracts with customers | $ | 20,438 |  | $ | 20,386 |  |  | $ | 62,925 |  | $ | 58,824 |
(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 nine-month period ended September 30, 2024:
| Contract Assets | Contract Liabilities
(Dollars in thousands)
Balance, January 1, 2024 | $ | 753 |  | $ | 5,776 |
Additional income receivable | 132 |  | — |
Additional deferred income | — |  | — |
Receipt of income previously receivable | (40) |  | — |
Recognition of income previously deferred | — |  | (241) |
Balance, September 30, 2024 | $ | 845 |  | $ | 5,535 |

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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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