Leases (Tables)

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Income and Expenses, Lessee [Abstract]

The table below details Peoples' lease expense, which is included in "Net occupancy and equipment expense" in the Unaudited Consolidated Statements of Operations:

	Three Months Ended				Nine Months Ended
(Dollars in thousands)	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Operating lease expense	$	358	$	334	1,038		995
Short-term lease expense	72		71		244		231
Total lease expense	$	430	$	405	$	1,282	$	1,226

Lease, Cost [Table Text Block]

The following table details the ROU assets, the lease liabilities and other information related to Peoples' operating leases:

(Dollars in thousands)	September 30, 2021			December 31, 2020
ROU assets:
Other assets	$	8,732		$	6,522
Lease liabilities:
Accrued expenses and other liabilities	$	9,040		$	6,776
Other information:
Weighted-average remaining lease term	9.5 years			12.4 years
Weighted-average discount rate	2.39		%	3.14		%

Finance Lease, Liability, Maturity [Table Text Block]

The following table summarizes the maturity of remaining lease liabilities:

(Dollars in thousands)	Balance
Remaining three months ending December 31, 2021	$	728
Year ending December 31, 2022	2,270
Year ending December 31, 2023	1,612
Year ending December 31, 2024	954
Year ending December 31, 2025	765
Thereafter	4,396
Total undiscounted lease payments	$	10,725
Imputed interest	$	(1,685)
Total lease liabilities	$	9,040

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

The following table summarizes the contractual maturities of leases:

(Dollars in thousands)	Balance
Remaining three months ending December 31, 2021	$	13,980
Year ending December 31, 2022	46,706
Year ending December 31, 2023	36,524
Year ending December 31, 2024	24,093
Year ending December 31, 2025	13,605
Thereafter	4,537
Lease payments receivable, at amortized cost	$	139,445

Sales-type Lease, Lease Income

The table below details Peoples' lease income:

	Three Months Ended		Nine Months Ended
(Dollars in thousands)	September 30, 2021		September 30, 2021
Interest and fees on leases (a)	$	4,810	9,025
Other non-interest income	471		716
Total lease income	$	5,281	$	9,741

(a)Included in "Interest and fees on loans" on the Unaudited Consolidated Statements of Operations.

For additional information, see "Note 4 Loans and Leases" of the Notes to the Unaudited Condensed

Consolidated Financial Statements.

Sales-type and Direct Financing Leases, net investments [Table]

The following table summarizes the net investments in sales-type leases, which are included in "Loans and leases, net of deferred costs" on the Unaudited Consolidated Balance Sheets:

(Dollars in thousands)	September 30, 2021
Lease payments receivable, at amortized cost	$	139,445
Estimated residual values	120
Initial direct costs	802
Deferred revenue	(28,921)
Total leases, at amortized cost	111,446
Allowance for credit losses - leases	(4,505)
Net investment in sales-type leases	$	106,941