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Leases (Tables)
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Summary of Sales Type Lease Income
The table below details Peoples' lease income:
 Three Months Ended
(Dollars in thousands)March 31, 2025March 31, 2024
Interest and fees on leases (a)$10,198 $12,067 
Lease income3,446 2,021 
Total lease income$13,644 $14,088 
(a)Included in "Interest and fees on loans and leases" in the Unaudited Consolidated Statements of Operations. For additional information, see "Note 4 Loans and Leases" of the Notes to the Unaudited Condensed Consolidated Financial Statements.
Summary of Sales Type Leases
The following table summarizes the net investment in leases, which is included in "Loans and leases, net of deferred fees and costs" on the Unaudited Consolidated Balance Sheets:
(Dollars in thousands)March 31, 2025December 31, 2024
Lease payments receivable, at amortized cost$431,584 $448,027 
Estimated residual values33,558 33,129 
Initial direct costs6,581 7,148 
Deferred revenue(76,269)(81,706)
Net investment in leases395,454 406,598 
Allowance for credit losses - leases(13,575)(12,893)
Net investment in leases, after allowance for credit losses$381,879 $393,705 
Summary of Sales Type Lease Maturity
The following table summarizes the contractual maturities of leases:
(Dollars in thousands)Balance
Remaining nine months ending December 31, 2025$102,431 
Year ending December 31, 202691,918 
Year ending December 31, 202792,471 
Year ending December 31, 202874,142 
Year ending December 31, 202950,127 
Thereafter20,495 
Lease payments receivable, at amortized cost$431,584 
Summary of Lease Cost
The table below details Peoples' lease expense, which is included in "Net occupancy and equipment expense" in the Unaudited Consolidated Statements of Operations:
 Three Months Ended
(Dollars in thousands)March 31, 2025March 31, 2024
Operating lease expense$713 $735 
Short-term lease expense363 305 
Variable lease expense9 — 
Total lease expense$1,085 $1,040 
The following table details the ROU assets, the lease liabilities and other information related to Peoples' operating leases at the dates shown:
(Dollars in thousands)March 31, 2025December 31, 2024
ROU assets:
Other assets$10,674 $10,419 
Lease liabilities:
     Accrued expenses and other liabilities$11,254 $10,968 
Other information:
     Weighted-average remaining lease term8.7 years9.0 years
     Weighted-average discount rate4.14 %4.11 %
     Additions for ROU assets obtained during the year$852 $1,660 
Summary of Operating Lease Maturities
The following table summarizes the maturity of remaining lease liabilities:
(Dollars in thousands)Balance
Remaining nine months ending December 31, 2025$1,911 
Year ending December 31, 20262,351 
Year ending December 31, 20272,091 
Year ending December 31, 20281,575 
Year ending December 31, 20291,121 
Thereafter4,549 
Total undiscounted lease payments$13,598 
Imputed interest$(2,344)
Total lease liabilities$11,254