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Deposits

9 Months Ended

Sep. 30, 2025

Banking and Thrift, Other Disclosure [Abstract]

Deposits

Deposits Peoples’ deposit balances were comprised of the following:

(Dollars in thousands)			September 30, 2025			December 31, 2024
Retail certificates of deposits ("CDs"):
$100 or more			$	1,153,707		$	1,092,261
Less than $100			854,912			829,154
Total Retail CDs			2,008,619			1,921,415
Interest-bearing deposit accounts			1,068,443			1,085,152
Savings accounts			884,230			866,959
Money market deposit accounts			948,177			878,254
Governmental deposit accounts			769,782			775,782
Brokered CDs			416,851			554,982
Total interest-bearing deposits			6,096,102			6,082,544
Non-interest-bearing deposits			1,536,094			1,507,661
Total deposits			$	7,632,196		$	7,590,205

Uninsured deposits were $2.1 billion at September 30, 2025 and $2.0 billion at December 31, 2024. Uninsured deposit amounts are estimated based on the portion of the respective customer account balances that exceeded the FDIC limit of $250,000. Peoples pledges investment securities against certain governmental deposit accounts, which covered $660.0 million and $656.9 million of the uninsured deposit balances at September 30, 2025 and at December 31, 2024, respectively.

Uninsured time deposits are broken out below by time remaining until maturity.

(Dollars in thousands)			September 30, 2025			December 31, 2024
3 months or less			$	190,092		$	180,405
Over 3 to 6 months			119,529			127,329
Over 6 to 12 months			118,784			91,197
Over 12 months			23,869			18,044
Total			$	452,274		$	416,975

    

The contractual maturities of CDs for each of the next five years, including the remainder of 2025, and thereafter are as follows:

(Dollars in thousands)			Retail			Brokered			Total
Remaining three months ending December 31, 2025			$	799,757		$	217,307		$	1,017,064
Year ending December 31, 2026			1,169,599			42,806			1,212,405
Year ending December 31, 2027			23,598			87,121			110,719
Year ending December 31, 2028			7,367			23,784			31,151
Year ending December 31, 2029			5,168			45,833			51,001
Thereafter			3,130			—			3,130
Total CDs			$	2,008,619		$	416,851		$	2,425,470

At September 30, 2025, Peoples had five effective interest rate swaps, with an aggregate notional value of $45.0 million, all of which hedge interest payments on brokered CDs. The brokered CDs are expected to be extended every 90 days through the maturity dates of the swaps. Additional information regarding Peoples' interest rate swaps can be found in "Note 10 Derivative Financial Instruments."

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- References

No definition available.

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- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 405
-Topic 942
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478353/942-405-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(12))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph e
-Publisher SEC

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Publisher SEC

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