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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Summary of Common Stock and Treasury Stock | The following table details the activity in Peoples’ common stock and treasury stock during the years ended December 31:
| Common Stock | Treasury Stock
Shares at December 31, 2021 | 29,814,401 | 1,577,359
Changes related to stock-based compensation awards: |  |
Grant of restricted common shares | — | (216,669)
Release of restricted common shares | — | 39,445
Cancellation of restricted common shares | — | 5,452
Grant of unrestricted common shares | — | (1,500)
Changes related to deferred compensation plan for Boards of Directors: |  |
Purchase of treasury stock | — | 15,688
Disbursed out of treasury stock | — | (3,039)
Common shares purchased under repurchase program | — | 263,183
Common shares issued under dividend reinvestment plan | 43,519 | —
Common shares issued under compensation plan for Boards of Directors | — | (17,626)
Common shares issued under employee stock purchase plan | — | (18,832)
Shares at December 31, 2022 | 29,857,920 | 1,643,461
Changes related to stock-based compensation awards: |  |
Grant of restricted common shares | — | (259,648)
Release of restricted common shares | — | 43,087
Cancellation of restricted common shares | — | 16,778
Grant of unrestricted common shares | — | (1,900)
Changes related to deferred compensation plan for Boards of Directors: |  |
Purchase of treasury stock | — | 21,042
Disbursed out of treasury stock | — | (4,368)
Common shares repurchased under repurchase program | — | 107,219
Common shares issued under dividend reinvestment plan | 50,453 | —
Common shares issued under compensation plan for Boards of Directors | — | (19,931)
Common shares issued under employee stock purchase plan | — | (34,392)
Issuance of common shares related to the Limestone Merger | 6,827,668 | —
Shares at December 31, 2023 | 36,736,041 | 1,511,348
Changes related to stock-based compensation awards: |  |
Grant of restricted common shares | — | (313,403)
Release of restricted common shares | — | 30,486
Cancellation of restricted common shares | — | 39,408
Grant of unrestricted common shares |  | (1,700)
Changes related to deferred compensation plan for Boards of Directors: |  |
Purchase of treasury stock | — | 14,945
Disbursed out of treasury stock | — | (12,833)
Common shares repurchased under repurchase program | — | 100,905
Common shares issued under dividend reinvestment plan | 46,560 | —
Common shares issued under compensation plan for Boards of Directors | — | (16,220)
Common shares issued under employee stock purchase plan | — | (41,761)
Shares at December 31, 2024 | 36,782,601 | 1,311,175
Summary of Dividends Declared | The following table details the cash dividends declared per common share for the year ended December 31:
| 2024 | 2023
First Quarter | $ | 0.39 |  | $ | 0.38 |
Second Quarter | 0.40 |  | 0.39 |
Third Quarter | 0.40 |  | 0.39 |
Fourth Quarter | 0.40 |  | 0.39 |
Total dividends declared | $ | 1.59 |  | $ | 1.55 |
Summary of Accumulated Other Comprehensive (Loss) Income | The following details the change in the components of Peoples’ accumulated other comprehensive income (loss) for the years ended December 31:
(Dollars in thousands) | Unrealized Gain (Loss) on Securities | Unrecognized Net Pension and Postretirement Costs | Unrealized (Loss) Gain on Cash Flow Hedges | Accumulated Other Comprehensive Income (Loss)
Balance, December 31, 2021 | $ | (5,946) |  | $ | (1,881) |  | $ | (3,792) |  | $ | (11,619) |
Reclassification adjustments to net income: |  |  |  |
Realized loss on sale of securities, net of tax | 47 |  | — |  | — |  | 47 |
Realized loss due to settlement and curtailment, net of tax | — |  | 142 |  | — |  | 142 |
Other comprehensive (loss) income, net of reclassifications and tax | (123,997) |  | 106 |  | 8,185 |  | (115,706) |
Balance, December 31, 2022 | $ | (129,896) |  | $ | (1,633) |  | $ | 4,393 |  | $ | (127,136) |
Reclassification adjustments to net income: |  |  |  |
Realized loss on sale of securities, net of tax | 2,836 |  | — |  | — |  | 2,836 |
Realized loss due to settlement and curtailment, net of tax | — |  | 1,858 |  | — |  | 1,858 |
Other comprehensive (loss) income, net of reclassifications and tax | 22,838 |  | (225) |  | (1,761) |  | 20,852 |
Balance, December 31, 2023 | $ | (104,222) |  | $ | — |  | $ | 2,632 |  | $ | (101,590) |
Reclassification adjustments to net income: |  |  |  |
Realized loss on sale of securities, net of tax | 319 |  | — |  | — |  | 319 |
Realized loss due to settlement and curtailment, net of tax | — |  | — |  | — |  | — |
Other comprehensive income (loss), net of reclassifications and tax | (7,926) |  | — |  | (1,188) |  | (9,114) |
Balance, December 31, 2024 | $ | (111,829) |  | $ | — |  | $ | 1,444 |  | $ | (110,385) |

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