XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.19.2

Derivatives and hedging activities (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Derivatives and hedging activities |
Schedule of fair value of derivative financial instruments and balance sheet classification |
|  |  |  | Asset Derivatives |  | Asset Derivatives |  | Liability Derivatives |  | Liability Derivatives
|  |  |  | As of June 30, 2019 |  | As of December 31, 2018 (1) |  | As of June 30, 2019 |  | As of December 31, 2018 (2)
|  | Notional |  | Balance Sheet |  |  |  |  | Balance Sheet |  |  |  |  | Balance Sheet |  |  |  |  | Balance Sheet |  |  |
|  | Amount |  | Location |  | Fair Value |  | Location |  | Fair Value |  | Location |  | Fair Value |  | Location |  | Fair Value
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest Rate Floor | $ | 25,000 |  | Other Assets |  | $ | 1,025 |  |  |  | $ | 553 |  |  |  |  |  |  |  |  |  |
Total derivatives designated as hedging instruments |  |  |  |  |  | $ | 1,025 |  |  |  | $ | 553 |  |  |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest Rate Swaps | $ | 123,351 |  | Other Assets |  | $ | 3,807 |  | Other Assets |  | $ | 108 |  | Other Liabilities |  | $ | 4,182 |  | Other Liabilities |  | $ | 138
Total derivatives not designated as hedging instruments |  |  |  |  |  | $ | 3,807 |  |  |  | $ | 108 |  |  |  | $ | 4,182 |  |  |  | $ | 138
| (1) |  | Assets amount does not include accrued interest receivable of $13
| (2) |  | Liabilities amount does not include accrued interest payable of $13
Schedule of effect of fair value and cash flow hedge accounting on Accumulated Other Comprehensive Income |
|  |  |  |  |  |  |  |  |  | Location of |  |  |  |  |  | Amount of |  |  | Amount of
|  | Amount of |  |  | Amount of |  |  | Amount of |  | Gain or (Loss) |  |  | Amount of |  |  | Gain |  |  | Loss
|  | Loss |  |  | Gain |  |  | Gain |  | Recognized from |  |  | Loss |  |  | Reclassified |  |  | Reclassified
|  | Recognized in |  |  | Recognized in |  |  | Recognized in |  | Accumulated |  |  | Reclassified |  |  | from Accumulated |  |  | from Accumulated
Derivatives in |  | OCI on |  |  | OCI Included |  |  | OCI Excluded |  | Other Comprehensive |  |  | from Accumulated |  |  | OCI into Income |  |  | OCI into Income
Hedging |  | Derivative |  |  | Component |  |  | Component |  | Income into |  |  | OCI into Income |  |  | Included Component |  |  | Excluded Component
Relationships |  |  |  |  | June 30, 2019 |  |  |  |  | Income |  |  |  |  |  | June 30, 2019 |  |  |
Derivatives in Cash Flow Hedging Relationships |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest Rate Floor (*) | $ | 427 |  | $ | 532 |  | $ | (105) |  | Interest Income |  | $ | (16) |  | $ |  |  | $ | (16)
|  |  |  |  |  |  |  |  |  | Location of |  |  |  |  |  | Amount of |  |  | Amount of
|  | Amount of |  |  | Amount of |  |  | Amount of |  | Gain or (Loss) |  |  | Amount of |  |  | Gain |  |  | Loss
|  | Loss |  |  | Gain |  |  | Gain |  | Recognized from |  |  | Loss |  |  | Reclassified |  |  | Reclassified
|  | Recognized in |  |  | Recognized in |  |  | Recognized in |  | Accumulated |  |  | Reclassified |  |  | from Accumulated |  |  | from Accumulated
Derivatives in |  | OCI on |  |  | OCI Included |  |  | OCI Excluded |  | Other Comprehensive |  |  | from Accumulated |  |  | OCI into Income |  |  | OCI into Income
Hedging |  | Derivative |  |  | Component |  |  | Component |  | Income into |  |  | OCI into Income |  |  | Included Component |  |  | Excluded Component
Relationships |  |  |  |  | June 30, 2019 |  |  |  |  | Income |  |  |  |  |  | June 30, 2019 |  |  |
Derivatives in Cash Flow Hedging Relationships |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest Rate Floor (*) | $ | 474 |  | $ | 827 |  | $ | (353) |  | Interest Income |  | $ | (31) |  | $ |  |  | $ | (31)
| * |  | Amounts disclosed are gross and not net of taxes.
Schedule of effect of derivative financial instruments on Income Statement |
|  | Location and Amount of Gain or (Loss) Recognized in
|  | Income on Fair Value and Cash Flow Hedging
|  | Relationships
|  | 2019 |  | 2018
|  | Interest Income |  | Interest Income
Total amounts of income and expense line items presented in the statements of income and comprehensive income in which the effects of fair value or cash flow hedges are recorded | $ | (31) |  |
The effects of fair value and cash flow hedging: |  |  |  |
Gain or (loss) on cash flow hedging relationships |  |  |  |
Interest contracts |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income | $ | (31) |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component | $ | (31) |  |
Schedule of gain (loss) on derivative instruments not designated as hedging instruments |
|  |  |  | Amount of Loss |  | Amount of Loss |  | Amount of Gain |  | Amount of Gain
|  |  |  | Recognized in |  | Recognized in |  | Recognized in |  | Recognized in
|  | Location of Gain or (Loss) |  | Income |  | Income |  | Income |  | Income
|  | Recognized in Income on |  | Three Months Ended |  | Six Months Ended |  | Three Months Ended |  | Six Months Ended
Derivatives Not Designated as Hedging Instruments |  | Derivative |  | June 30, 2019 |  | June 30, 2019 |  | June 30, 2018 |  | June 30, 2018
Interest Rate Swaps |  | Other non-interest income |  | $ | (236) |  | $ | (346) |  | $ | 19 |  | $ | 85
Fee Income |  | Other income / (expense) |  | $ | 744 |  | $ | 1,136 |  | $ | 53 |  | $ | 53
Schedule of offsetting derivatives |
Offsetting of Derivative Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
as of June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Balance Sheet |  |  |
|  | Gross |  |  |  | Net Amounts |  |  |  |  |  |  |  |  |
|  | Amounts of |  | Gross Amounts |  | of Assets |  |  |  |  |  |  |  |  |
|  | Recognized |  | Offset in the |  | presented in the |  | Financial |  | Cash Collateral |  | Net
|  | Assets |  | Balance Sheet |  | Balance Sheet |  | Instruments |  | Received |  | Amount
Derivatives |  | $ | 4,833 |  | $ |  |  | $ | 4,833 |  | $ |  |  |  |  |  | $ | 4,833
Offsetting of Derivative Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
as of June 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Balance Sheet |  |  |
|  | Gross |  |  |  | Net Amounts |  |  |  |  |  |  |  |  |
|  | Amounts of |  | Gross Amounts |  | of Assets |  |  |  |  |  |  |  |  |
|  | Recognized |  | Offset in the |  | presented in the |  | Financial |  | Cash Collateral |  | Net
|  | Assets |  | Balance Sheet |  | Balance Sheet |  | Instruments |  | Received |  | Amount
Derivatives |  | $ | 4,183 |  | $ |  |  | $ | 4,183 |  | $ |  |  |  |  |  | $ | 4,183
Offsetting of Derivative Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
as of December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Balance Sheet |  |  |
|  | Gross |  |  |  | Net Amounts |  |  |  |  |  |  |  |  |
|  | Amounts of |  | Gross Amounts |  | of Assets |  |  |  |  |  |  |  |  |
|  | Recognized |  | Offset in the |  | presented in the |  | Financial |  | Cash Collateral |  | Net
|  | Assets |  | Balance Sheet |  | Balance Sheet |  | Instruments |  | Received |  | Amount
Derivatives |  | $ | 661 |  | $ |  |  | $ | 661 |  | $ |  |  |  |  |  | $ | 661
Offsetting of Derivative Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
as of December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Balance Sheet |  |  |
|  | Gross |  |  |  | Net Amounts |  |  |  |  |  |  |  |  |
|  | Amounts of |  | Gross Amounts |  | of Assets |  |  |  |  |  |  |  |  |
|  | Recognized |  | Offset in the |  | presented in the |  | Financial |  | Cash Collateral |  | Net
|  | Assets |  | Balance Sheet |  | Balance Sheet |  | Instruments |  | Received |  | Amount
Derivatives |  | $ | 138 |  | $ |  |  | $ | 138 |  | $ |  |  |  |  |  | $ | 138

X
- Definition Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements. + References No definition available. + Details
Name: | pfis_OffsettingAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | pfis_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CC -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL109998890-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration