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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2021
Investment Holdings [Line Items]  
Summary of Available-for-sale Investment Securities
The following table summarizes Peoples' available-for-sale investment securities:

(Dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
September 30, 2021    
Obligations of:    
U.S. government sponsored agencies$78,916 $102 $(537)$78,481 
States and political subdivisions252,706 3,220 (3,007)252,919 
Residential mortgage-backed securities894,848 10,453 (6,842)898,459 
Commercial mortgage-backed securities63,568 85 (1,101)62,552 
Bank-issued trust preferred securities4,616 233 (170)4,679 
Total available-for-sale securities$1,294,654 $14,093 $(11,657)$1,297,090 
December 31, 2020    
Obligations of:    
U.S. government sponsored agencies$4,960 $403 $— $5,363 
States and political subdivisions110,401 4,642 (124)114,919 
Residential mortgage-backed securities609,865 15,377 (2,024)623,218 
Commercial mortgage-backed securities4,622 161 — 4,783 
Bank-issued trust preferred securities4,696 192 (158)4,730 
Total available-for-sale securities$734,544 $20,775 $(2,306)$753,013 
Schedule of Gross Gains and Losses from Sales of Available-for-sale Securities The gross gains and losses realized by Peoples from sales of available-for-sale securities for the periods ended September 30 were as follows:
Three Months EndedNine Months Ended
September 30,September 30,
(Dollars in thousands)2021202020212020
Gross gains realized$150 $2 $786 $386 
Gross losses realized(316)— (1,490)(3)
Net (loss) gain realized$(166)$2 $(704)$383 
Summary of Available-for-sale Securities with Unrealized Loss
The following table presents a summary of available-for-sale investment securities that had been in a continuous unrealized loss loss position:
 Less than 12 Months12 Months or MoreTotal
(Dollars in thousands)
Fair
Value
Unrealized LossNo. of Securities
Fair
Value
Unrealized LossNo. of Securities
Fair
Value
Unrealized Loss
September 30, 2021        
Obligations of:
U.S. government sponsored agencies
$49,570 $537 $7 $— $— $— $49,570 $537 
States and political subdivisions128,402 3,007 76 — — — 128,402 3,007 
Residential mortgage-backed securities
466,518 6,079 72 36,160 763 16 502,678 6,842 
Commercial mortgage-backed securities
48,974 1,101 17 — — — 48,974 1,101 
Bank-issued trust preferred securities
— — — 1,830 170 2 1,830 170 
Total$693,464 $10,724 172 $37,990 $933 18 $731,454 $11,657 
December 31, 2020        
Obligations of:
States and political subdivisions$17,651 $124 5 $— $— — $17,651 $124 
Residential mortgage-backed securities
156,659 1,795 45 9,892 229 13 166,551 2,024 
Bank-issued trust preferred securities
494 6 1 1,848 152 2 2,342 158 
Total$174,804 $1,925 51 $11,740 $381 15 $186,544 $2,306 
Summary of Held-to-maturity Investment Securities
The following table summarizes Peoples’ held-to-maturity investment securities:
(Dollars in thousands)Amortized CostAllowance for Credit Losses Gross Unrealized GainsGross Unrealized LossesFair Value
September 30, 2021    
Obligations of:   
 U.S. government sponsored agencies$29,995 $— $85 $(933)$29,147 
States and political subdivisions124,417 (236)675 (2,421)122,435 
Residential mortgage-backed securities41,035 — 661 (195)41,501 
Commercial mortgage-backed securities47,889 — 236 (1,208)46,917 
Total held-to-maturity securities$243,336 $(236)$1,657 $(4,757)$240,000 
December 31, 2020    
Obligations of:    
States and political subdivisions$35,199 $(60)$510 $(165)$35,484 
Residential mortgage-backed securities25,890 — 852 — 26,742 
Commercial mortgage-backed securities5,429 — 427 — 5,856 
Total held-to-maturity securities$66,518 $(60)$1,789 $(165)$68,082 
Cost-method Investments, Description [Text Block]
The following table summarizes the carrying value of Peoples' other investment securities:
(Dollars in thousands)September 30, 2021December 31, 2020
FHLB stock$17,918 $21,718 
FRB stock13,311 13,311 
Nonqualified deferred compensation2,083 1,867 
Equity investment securities390 299 
Other investment securities784 365 
Total other investment securities$34,486 $37,560 
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]
The following table summarizes the carrying value of Peoples' pledged securities:
 Carrying Amount
(Dollars in thousands)September 30, 2021December 31, 2020
Securing public and trust department deposits, and repurchase agreements:
     Available-for-sale$851,966 $547,244 
     Held-to-maturity143,467 28,287 
Securing collateral for cash flow hedge swaps:
     Available-for-sale36,314 — 
Securing additional borrowing capacity at the FHLB and the FRB:
     Available-for-sale7,036 2,175 
     Held-to-maturity556 — 
Available-for-sale securities  
Investment Holdings [Line Items]  
Summary of Investment Securities by Contractual Maturity
The table below presents the amortized cost, fair value and total weighted-average yield of available-for-sale securities by contractual maturity at September 30, 2021.  The weighted-average yields are based on the amortized cost.  In some cases, the issuers may have the right to call or prepay obligations without call or prepayment penalties prior to the contractual maturity date.
 
(Dollars in thousands)Within 1 Year1 to 5 Years5 to 10 YearsOver 10 YearsTotal
Amortized cost     
Obligations of:     
U.S. government sponsored agencies$— $1,996 $66,436 $10,484 $78,916 
States and political subdivisions7,314 28,647 67,074 149,671 252,706 
Residential mortgage-backed securities7 981 56,615 837,245 894,848 
Commercial mortgage-backed securities1,887 — 34,169 27,512 63,568 
Bank-issued trust preferred securities— — 4,616 — 4,616 
Total available-for-sale securities$9,208 $31,624 $228,910 $1,024,912 $1,294,654 
Fair value     
Obligations of:     
U.S. government sponsored agencies$— $2,069 $66,161 $10,251 $78,481 
States and political subdivisions7,375 29,538 68,100 147,906 252,919 
Residential mortgage-backed securities7 1,006 56,712 840,734 898,459 
Commercial mortgage-backed securities1,907 — 33,763 26,882 62,552 
Bank-issued trust preferred securities— — 4,679 — 4,679 
Total available-for-sale securities$9,289 $32,613 $229,415 $1,025,773 $1,297,090 
Total weighted-average yield2.07 %2.56 %1.19 %1.58 %1.54 %
Held-to-maturity securities  
Investment Holdings [Line Items]  
Summary of Held-to-maturity Securities with Unrealized Loss
The following table presents a summary of held-to-maturity investment securities that had been in a continuous unrealized loss position:
 Less than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair
Value		Unrealized LossNo. of SecuritiesFair
Value		Unrealized LossNo. of SecuritiesFair
Value		Unrealized Loss
September 30, 2021        
Obligations of:
U.S. government sponsored agencies$25,587 $933 5 — — — $25,587 $933 
States and political subdivisions89,532 2,421 37 — — — 89,532 2,421 
Residential mortgage-backed securities
17,426 195 2 — — — 17,426 195 
Commercial mortgage-backed securities
39,641 1,208 11 — — — 39,641 1,208 
Total$172,186 $4,757 55 $— $— — $172,186 $4,757 
December 31, 2020        
Obligations of:
States and political subdivisions$18,662 $165 5 $— $— — $18,662 $165 
Total$18,662 $165 5 $— $— — $18,662 $165 
Summary of Investment Securities by Contractual Maturity
The table below presents the amortized cost, fair value and total weighted-average yield of held-to-maturity securities by contractual maturity at September 30, 2021.  The weighted-average yields are based on the amortized cost and are computed on a fully taxable-equivalent basis using a blended federal and state corporate income tax rate of 22.3%.  In some cases, the issuers may have the right to call or prepay obligations without call or prepayment penalties prior to the contractual maturity date.
  
(Dollars in thousands)Within 1 Year1 to 5 Years5 to 10 YearsOver 10 YearsTotal
Amortized cost     
Obligations of:     
U.S. government sponsored agencies$— $— $— $29,995 $29,995 
States and political subdivisions— 989 2,511 120,917 124,417 
Residential mortgage-backed securities— 1,939 — 39,096 41,035 
Commercial mortgage-backed securities355 — 8,655 38,879 47,889 
Total held-to-maturity securities$355 $2,928 $11,166 $228,887 $243,336 
Fair value     
Obligations of:     
U.S. government sponsored agencies$— $— $— $29,147 $29,147 
States and political subdivisions— 1,132 2,794 118,509 122,435 
Residential mortgage-backed securities— 2,015 — 39,486 41,501 
Commercial mortgage-backed securities358 — 8,844 37,715 46,917 
Total held-to-maturity securities$358 $3,147 $11,638 $224,857 $240,000 
Total weighted-average yield2.25 %2.29 %2.37 %2.05 %2.07 %