Revenue (Notes)

9 Months Ended

Sep. 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				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2021		2020		2021		2020
Insurance income:
Commission and fees from sale of insurance policies (a)	$	3,231	$	3,493	$	9,603	$	9,117
Fees related to third-party administration services (a)	76		107		276		375
Performance-based commissions (b)	60		9		2,044		1,437
Trust and investment income (a)	4,158		3,435		12,223		10,013
Electronic banking income:
Interchange income (a)	3,280		3,011		9,930		8,255
Promotional and usage income (a)	1,046		755		2,725		2,313
Deposit account service charges:
Ongoing maintenance fees for deposit accounts (a)	933		848		2,597		2,677
Transactional-based fees (b)	1,616		1,418		3,981		4,318
Commercial loan swap fees (b)	73		68		194		1,267
Other non-interest income transactional-based fees (b)	207		94		601		624
Total revenue from contracts with customers	$	14,680	$	13,238	$	44,174	$	40,396
Timing of revenue recognition:
Services transferred over time	$	12,724	$	11,649	$	37,354	$	32,750
Services transferred at a point in time	1,956		1,589		6,820		7,646
Total revenue from contracts with customers	$	14,680	$	13,238	$	44,174	$	40,396

(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.

The following table details the changes in Peoples' contract assets and contract liabilities for the nine-month period ended September 30, 2021:

	Contract Assets		Contract Liabilities
(Dollars in thousands)
Balance, January 1, 2021	$	1,247	$	5,224
Additional income receivable	144		—
Receipt of income previously receivable	(701)		—
Recognition of income previously deferred	—		(488)
Balance, September 30, 2021	$	690	$	4,736