Revenue (Notes)

6 Months Ended

Jun. 30, 2021

Revenue Recognition and Deferred Revenue [Abstract]

Revenue from Contract with Customer [Text Block]

Revenue

The following table details Peoples' revenue from contracts with customers:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2021		2020		2021		2020
Insurance income:
Commission and fees from sale of insurance policies (a)	$	3,195	$	2,933	$	6,371	$	5,625
Fees related to third-party administration services (a)	106		120		200		267
Performance-based commissions (b)	34		138		1,985		1,429
Trust and investment income (a)	4,220		3,316		8,065		6,578
Electronic banking income:
Interchange income (a)	3,603		2,844		6,650		5,244
Promotional and usage income (a)	815		679		1,679		1,559
Deposit account service charges:
Ongoing maintenance fees for deposit accounts (a)	853		849		1,664		1,829
Transactional-based fees (b)	1,191		1,060		2,366		2,900
Commercial loan swap fees (b)	61		955		121		1,199
Other non-interest income transactional-based fees (b)	249		220		393		428
Total revenue from contracts with customers	$	14,327	$	13,114	$	29,494	$	27,058
Timing of revenue recognition:
Services transferred over time	$	12,792	$	10,741	$	24,629	$	21,102
Services transferred at a point in time	1,535		2,373		4,865		5,956
Total revenue from contracts with customers	$	14,327	$	13,114	$	29,494	$	27,058

(a) Services transferred over time.

(b) Services transferred at a point in time.

Peoples records contract assets for income that has been recognized over a period of time for fulfillment of performance obligations, but has not yet been received related to electronic banking income and certain insurance income. This income typically relates to bonuses for which Peoples is eligible, but will not receive until a certain time in the future. Peoples records contract liabilities for payments received for commission income related to the sale of insurance policies, for which the performance obligations have not yet been fulfilled. The contract liabilities are recognized as income over time, during the period in which the performance obligations are fulfilled, which is over the insurance policy period. Peoples also records contract liabilities for bonuses received related to electronic banking income, for which the performance obligations have not yet been fulfilled. The contract liabilities are recognized as income over time, during the period in which the performance obligations are fulfilled related to electronic banking income. As of June 30, 2021, there were no material changes to Peoples' revenue contracts related to the COVID-19 pandemic, and there were no changes to the likelihood of collectability under the contracts.

The following table details the change in Peoples' contract assets and contract liabilities for the six-month period ended June 30, 2021:

	Contract Assets		Contract Liabilities
(Dollars in thousands)
Balance, January 1, 2021	$	1,247	$	5,224
Additional income receivable	142		—
Recognition of income previously deferred	—		(222)
Balance, June 30, 2021	$	1,389	$	5,002