Loans (Tables)

3 Months Ended

9 Months Ended

Sep. 30, 2021

Sep. 30, 2021

Receivables [Abstract]

Schedule of Financing Receivables, Type

The major classifications of loan balances (in each case, net of deferred fees and costs) excluding loans held for sale, were as follows:

(Dollars in thousands)	September 30, 2021		December 31, 2020
Construction	$	174,784	$	106,792
Commercial real estate, other	1,629,116		929,853
Commercial and industrial	858,538		973,645
Premium finance	134,755		114,758
Leases	111,446		—
Residential real estate	768,134		574,007
Home equity lines of credit	161,370		120,913
Consumer, indirect	543,256		503,527
Consumer, direct	108,702		79,094
Deposit account overdrafts	927		351
Total loans, at amortized cost	$	4,491,028	$	3,402,940

Nonaccrual and Past Due Loans

The amortized cost of loans on nonaccrual status and of loans delinquent for 90 days or more and accruing were as follows:

	September 30, 2021				December 31, 2020
(Dollars in thousands)	Nonaccrual (a)		Accruing Loans 90+ Days Past Due		Nonaccrual (a)		Accruing Loans 90+ Days Past Due
Construction	$	—	$	—	$	4	$	—
Commercial real estate, other	17,301		1,912		9,111		—
Commercial and industrial	5,356		98		6,192		50
Premium finance	—		368		—		204
Leases	1,411		1,736		—		—
Residential real estate	9,735		1,156		8,375		1,975
Home equity lines of credit	976		61		867		82
Consumer, indirect	1,069		—		1,073		39
Consumer, direct	186		32		171		17
Total loans, at amortized cost	$	36,034	$	5,363	$	25,793	$	2,367

Aging Of The Recorded Investment In Past Due Loans And Leases

The following table presents the aging of the amortized cost of past due loans:

	Loans Past Due								Current Loans		Total Loans
(Dollars in thousands)	30 - 59 days		60 - 89 days		90 + Days		Total
September 30, 2021
Construction	$	146	$	16	$	—	$	162	$	174,622	$	174,784
Commercial real estate, other	4,513		2,349		14,116		20,978		1,608,138		1,629,116
Commercial and industrial	924		566		5,324		6,814		851,724		858,538
Premium finance	440		281		368		1,089		133,666		134,755
Leases	393		194		1,736		2,323		109,123		111,446
Residential real estate	4,138		2,649		5,353		12,140		755,994		768,134
Home equity lines of credit	487		166		758		1,411		159,959		161,370
Consumer, indirect	2,977		477		346		3,800		539,456		543,256
Consumer, direct	134		224		101		459		108,243		108,702
Deposit account overdrafts	—		—		—		—		927		927
Total loans, at amortized cost	$	14,152	$	6,922	$	28,102	$	49,176	$	4,441,852	$	4,491,028
December 31, 2020
Construction	$	—	$	344	$	4	$	348	$	106,444	$	106,792
Commercial real estate, other	1,943		283		8,643		10,869		918,984		929,853
Commercial and industrial	567		552		4,535		5,654		967,991		973,645
Premium finance	928		1,073		204		2,205		112,553		114,758
Residential real estate	6,739		2,688		5,512		14,939		559,068		574,007
Home equity lines of credit	309		58		780		1,147		119,766		120,913
Consumer, indirect	4,362		733		348		5,443		498,084		503,527
Consumer, direct	424		43		123		590		78,504		79,094
Deposit account overdrafts	—		—		—		—		351		351
Total loans, at amortized cost	$	15,272	$	5,774	$	20,149	$	41,195	$	3,361,745	$	3,402,940

Loans By Risk Category

The following table summarizes the risk category of loans within Peoples' loan portfolio, including acquired loans, based upon the most recent analysis performed at September 30, 2021:

	Term Loans at Amortized Cost by Origination Year														Revolving Loans Converted to Term
(Dollars in thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans				Total Loans
Construction
Pass	$	57,422	$	73,789	$	16,624	$	3,289	$	1,286	$	2,829	$	1,755	$	4,170	$	156,994
Special mention	290		—		7,185		1,092		3,805		138		—		—		12,510
Substandard	—		—		957		79		159		4,085		—		—		5,280
Total	57,712		73,789		24,766		4,460		5,250		7,052		1,755		4,170		174,784
Commercial real estate, other
Pass	195,110		266,264		240,617		153,836		160,057		427,073		23,815		12,128		1,466,772
Special mention	159		10,353		8,398		7,077		8,798		33,558		—		51		68,343
Substandard	—		1,679		6,644		2,299		5,668		76,655		371		41		93,316
Doubtful	—		—		—		—		—		669		—		—		669
Loss	—		—		—		—		—		16		—		—		16
Total	195,269		278,296		255,659		163,212		174,523		537,971		24,186		12,220		1,629,116
Commercial and industrial
Pass	241,877		135,119		90,671		67,107		30,843		102,471		154,178		14,440		822,266
Special mention	82		1,281		2,327		3,622		164		991		2,702		10		11,169

	Term Loans at Amortized Cost by Origination Year														Revolving Loans Converted to Term
(Dollars in thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans				Total Loans
Substandard	94		2,858		2,739		875		6,921		3,853		5,690		608		23,030
Doubtful	—		—		—		—		—		1,808		265		187		2,073
Total	242,053		139,258		95,737		71,604		37,928		109,123		162,835		15,245		858,538
Premium finance
Pass	131,142		3,613		—		—		—		—		—		—		134,755
Total	131,142		3,613		—		—		—		—		—		—		134,755
Leases
Pass	56,901		30,875		16,750		4,473		491		26		—		—		109,516
Special mention	99		10		68		17		—		—		—		—		194
Substandard	123		502		531		572		8		—		—		—		1,736
Total	57,123		31,387		17,349		5,062		499		26		—		—		111,446
Residential real estate
Pass	115,657		75,578		55,305		35,693		46,720		422,673		—		—		751,626
Substandard	—		—		—		—		—		16,079		—		—		16,079
Loss	—		—		—		—		—		429		—		—		429
Total	115,657		75,578		55,305		35,693		46,720		439,181		—		—		768,134
Home equity lines of credit
Pass	25,901		23,840		19,084		17,112		15,625		57,574		2,234		3,164		161,370
Total	25,901		23,840		19,084		17,112		15,625		57,574		2,234		3,164		161,370
Consumer, indirect
Pass	195,954		183,489		72,009		53,063		26,499		12,242		—		—		543,256
Total	195,954		183,489		72,009		53,063		26,499		12,242		—		—		543,256
Consumer, direct
Pass	42,124		30,880		15,541		9,863		3,861		6,433		—		—		108,702
Total	42,124		30,880		15,541		9,863		3,861		6,433		—		—		108,702
Deposit account overdrafts	927		—		—		—		—		—		—		—		927
Total loans, at amortized cost	$	1,063,862	$	840,130	$	555,450	$	360,069	$	310,905	$	1,169,602	$	191,010	$	34,799	$	4,491,028

The following table summarizes the risk category of Peoples' loan portfolio, including acquired loans, based upon the most recent analysis performed at December 31, 2020:

(Dollars in thousands)	2020		2019		2018		2017		2016		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
Construction
Pass	$	27,670	$	56,361	$	554	$	15,089	$	824	$	1,194	$	3,199	$	2,003	$	104,891
Special mention	—		—		496		—		—		143		—		—		639
Substandard	—		—		—		186		—		1,076		—		—		1,262
Total	27,670		56,361		1,050		15,275		824		2,413		3,199		2,003		106,792
Commercial real estate, other
Pass	116,441		125,373		99,522		94,465		99,668		215,385		109,160		9,748		860,014
Special mention	297		5,806		999		5,296		5,125		12,932		3,967		60		34,422
Substandard	—		1,191		677		1,709		1,663		27,066		3,033		110		35,339
Doubtful	—		—		—		—		—		78		—		—		78
Total	116,738		132,370		101,198		101,470		106,456		255,461		116,160		9,918		929,853

(Dollars in thousands)	2020		2019		2018		2017		2016		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
Commercial and industrial
Pass	409,237		97,362		67,284		38,450		45,026		77,009		199,597		30,680		933,965
Special mention	1,034		366		2,018		287		1,453		1,452		12,429		526		19,039
Substandard	2,226		3,569		2,873		2,167		318		4,163		3,436		1,083		18,752
Doubtful	—		—		—		—		1,698		191		—		187		1,889
Total	412,497		101,297		72,175		40,904		48,495		82,815		215,462		32,476		973,645
Premium finance
Pass	114,758		—		—		—		—		—		—		—		114,758
Total	114,758		—		—		—		—		—		—		—		114,758
Residential real estate
Pass	47,147		40,223		24,235		29,142		43,105		309,795		65,168		305		558,815
Substandard	—		—		—		—		—		15,048		—		—		15,048
Loss	—		—		—		—		—		144		—		—		144
Total	47,147		40,223		24,235		29,142		43,105		324,987		65,168		305		574,007
Home equity lines of credit
Pass	16,469		13,513		12,548		12,382		11,869		40,626		13,506		4,091		120,913
Total	16,469		13,513		12,548		12,382		11,869		40,626		13,506		4,091		120,913
Consumer, indirect
Pass	210,014		92,696		71,807		39,608		17,156		11,563		60,683		—		503,527
Total	210,014		92,696		71,807		39,608		17,156		11,563		60,683		—		503,527
Consumer, direct
Pass	31,689		15,923		11,085		4,531		2,529		4,193		9,144		—		79,094
Total	31,689		15,923		11,085		4,531		2,529		4,193		9,144		—		79,094
Deposit account overdrafts	351		—		—		—		—		—		—		—		351
Total loans, at amortized cost	$	977,333	$	452,383	$	294,098	$	243,312	$	230,434	$	722,058	$	483,322	$	48,793	$	3,402,940

Troubled Debt Restructurings on Financing Receivables

The following tables summarize the loans that were modified as troubled debt restructurings ("TDRs") during the three and nine months ended September 30:

		Three Months Ended
		Recorded Investment (a)
(Dollars in thousands)	Number of Contracts	Pre-Modification		Post-Modification		Remaining Recorded Investment
September 30, 2021
Construction	1	$	6	$	6	$	6
Commercial real estate, other	2	14		14		14
Commercial and industrial	3	327		327		327
Leases	2	182		184		178
Residential real estate	46	1,952		1,956		1,955
Home equity lines of credit	5	55		55		55
Consumer, indirect	9	95		95		95
Consumer, direct	3	9		9		9
Consumer	12	104		104		104
Total	71	$	2,640	$	2,646	$	2,639
September 30, 2020
Commercial real estate, other	3	$	2,214	$	2,214	$	1,112
Commercial and industrial	4	3,657		3,657		3,658
Residential real estate	10	608		608		608
Home equity lines of credit	3	68		68		68
Consumer, indirect	11	126		126		126
Consumer, direct	2	16		16		16
Consumer	13	142		142		142
Total	33	$	6,689	$	6,689	$	5,588
(a) The amounts shown are inclusive of all partial paydowns and charge-offs. Loans modified in a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported.

		Nine Months Ended
		Recorded Investment (a)
(Dollars in thousands)	Number of Contracts	Pre-Modification		Post-Modification		Remaining Recorded Investment
September 30, 2021
Construction	2	$	350	$	350	$	350
Commercial real estate, other	3	37		37		37
Commercial and industrial	3	327		327		327
Leases	5	340		348		334
Residential real estate	54	2,367		2,376		2,366
Home equity lines of credit	9	315		315		307
Consumer, indirect	16	200		200		192
Consumer, direct	8	48		48		45
Consumer	24	248		248		237
Total	100	$	3,984	$	4,001	$	3,958
September 30, 2020
Commercial real estate, other	5	$	2,533	$	2,533	$	1,430
Commercial and industrial	5	3,803		3,803		3,804
Residential real estate	16	1,237		1,267		1,261
Home equity lines of credit	7	123		123		121
Consumer, indirect	23	235		235		216
Consumer, direct	5	68		68		63
Consumer	28	303		303		279
Total	61	$	7,999	$	8,029	$	6,895
(a) The amounts shown are inclusive of all partial paydowns and charge-offs. Loans modified in a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported.

Financing Receivables, Collateral Dependent [Table]

The following table details Peoples' amortized cost of collateral dependent loans:

(Dollars in thousands)	September 30, 2021		December 31, 2020
Construction	$	4,276	$	—
Commercial real estate, other	35,820		8,467
Commercial and industrial	11,446		6,333
Residential real estate	1,321		1,670
Home equity lines of credit	393		403
Total collateral dependent loans	$	53,256	$	16,873

us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock

Loans pledged are summarized as follows:

(Dollars in thousands)	September 30, 2021		December 31, 2020
Loans pledged to FHLB	$	752,382	$	740,584
Loans pledged to FRB	135,504		107,340

Troubled Debt Restructurings during prior 12months that subsequently defaulted

	September 30, 2021					September 30, 2020
(Dollars in thousands)	Number of Contracts	Recorded Investment (a)		Impact on the Allowance for Credit Losses		Number of Contracts	Recorded Investment (a)		Impact on the Allowance for Credit Losses
Commercial real estate, other	—	$	—	—		1	$	54	—
Residential real estate	3	113		—		—	—		—
Total	3	$	113	$	—	1	$	54	$	—
(a) The amounts shown are inclusive of all partial paydowns and charge-offs. Loans modified in a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported.