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Acquisitions (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 17, 2021
May 04, 2021
Apr. 01, 2021
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Jul. 01, 2020
Jan. 01, 2020
Dec. 31, 2019
Business Acquisition [Line Items]                      
Loans and leases, net of deferred fees and costs (b)       $ 4,491,028,000   $ 4,491,028,000   $ 3,402,940,000      
Other assets       109,504,000   109,504,000   78,111,000      
Cash and balances due from banks       129,842,000   129,842,000   60,902,000      
Interest-bearing deposits in other banks       369,840,000   369,840,000   91,198,000      
Goodwill       267,015,000   267,015,000   171,260,000   $ 100,000 $ 165,701,000
Loans and Leases Receivable, Allowance       (77,382,000)   (77,382,000)   (50,359,000)      
Loans and Leases Receivable, Net Amount       4,413,646,000   4,413,646,000   3,352,581,000      
Business Combination, Contingent Consideration, Liability     $ 2,300,000                
Salaries and employee benefit costs       25,589,000 $ 19,410,000 68,276,000 $ 57,313,000        
Professional fees       6,426,000 1,720,000 13,459,000 5,247,000        
Net occupancy and equipment expense       3,551,000 3,383,000 10,167,000 9,688,000        
Data processing and software expense       2,529,000 1,838,000 7,394,000 5,344,000        
Other non-interest expense       12,711,000 2,479,000 17,762,000 7,665,000        
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase       (22,334,000)   (22,827,000) (2,686,000)        
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium)     85,000                
Financing Receivable, Purchased with Credit Deterioration, Amount at Purchase Price     4,840,000                
Noninterest Expense       57,860,000 34,315,000 135,746,000 100,445,000        
Common Shares Issued in Business Combination 0.58                    
Business Acquisition, Pro Forma Net Income (Loss)       59,248,000 52,646,000 168,644,000 156,285,000        
Business Acquisition, Pro Forma Revenue       19,071,000 18,967,000 57,061,000 53,507,000        
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations, Net of Tax       17,492,000 $ 16,151,000 56,862,000 31,529,000        
Finance Leases Portfolio Segment                      
Business Acquisition [Line Items]                      
Loans and leases, net of deferred fees and costs (b)       111,446,000   111,446,000          
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase     (493,000) 0   (493,000)          
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss       111,446,000   111,446,000   0      
Construction                      
Business Acquisition [Line Items]                      
Loans and leases, net of deferred fees and costs (b)       174,784,000   174,784,000   106,792,000      
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase       (2,127,000)   (2,127,000) (51,000)        
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss       174,784,000   174,784,000   106,792,000      
Commercial real estate, other                      
Business Acquisition [Line Items]                      
Loans and leases, net of deferred fees and costs (b)       1,629,116,000   1,629,116,000   929,853,000      
Commercial and industrial                      
Business Acquisition [Line Items]                      
Loans and leases, net of deferred fees and costs (b)       858,538,000   858,538,000   973,645,000      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss       858,538,000   858,538,000   973,645,000      
Residential real estate                      
Business Acquisition [Line Items]                      
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss       768,134,000   768,134,000   574,007,000      
Consumer, direct                      
Business Acquisition [Line Items]                      
Loans and leases, net of deferred fees and costs (b)       108,702,000   108,702,000   79,094,000      
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase       (112,000)   (112,000) (34,000)        
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss       108,702,000   108,702,000   79,094,000      
Commercial Real Estate Portfolio Segment [Member]                      
Business Acquisition [Line Items]                      
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase       (13,374,000)   (13,374,000) $ (1,356,000)        
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss       1,629,116,000   1,629,116,000   929,853,000      
Residential Real Estate                      
Business Acquisition [Line Items]                      
Loans and leases, net of deferred fees and costs (b)       768,134,000   768,134,000   $ 574,007,000      
North Star Leasing                      
Business Acquisition [Line Items]                      
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High     3,100,000                
Loans and leases, net of deferred fees and costs (b)     83,300,000                
Business Combination, Consideration Transferred       118,846,000              
Cash and balances due from banks     216,000                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment     470,000                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles     14,009,000                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets     1,225,000                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets     98,753,000                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities     4,627,000                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities     4,627,000                
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net     94,126,000                
Goodwill     24,720,000                
Loans and Leases Receivable, Net Amount     82,833,000                
Business Combination, Contingent Consideration, Liability     2,700,000                
Salaries and employee benefit costs           3,000          
Professional fees       13,000   2,100,000          
Net occupancy and equipment expense           2,000          
Data processing and software expense           3,000          
Marketing Expense           2,000          
Other non-interest expense           209,000          
Financing Receivable, Purchased with Credit Deterioration, Amount at Par Value     5,248,000                
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase $ (500,000)                    
Noninterest Expense       400,000              
Goodwill, Purchase Accounting Adjustments       $ (474,000)              
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss     83,300,000                
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed      
The following table provides the preliminary purchase price calculation as of the date of acquisition for NSL and the assets acquired and liabilities assumed at their estimated fair values.
(Dollars in thousands)
Total purchase price (a)$118,846 
Net assets at fair value
Assets
Cash and due from banks$216 
Net leases82,833 
Bank premises and equipment, net of accumulated depreciation470 
Other intangible assets14,009 
Other assets1,225 
    Total assets$98,753 
Liabilities
Accrued expenses and other liabilities$4,627 
Total liabilities$4,627 
Net assets$94,126 
Goodwill$24,720 
              
North Star Leasing | Other Intangible Assets                      
Business Acquisition [Line Items]                      
Goodwill, Purchase Accounting Adjustments       $ (474,000)              
North Star Leasing | Other Assets [Member]                      
Business Acquisition [Line Items]                      
Goodwill, Purchase Accounting Adjustments       (380,000)              
North Star Leasing | Other Liabilities [Member]                      
Business Acquisition [Line Items]                      
Goodwill, Purchase Accounting Adjustments       380,000              
North Star Leasing | Cash [Member]                      
Business Acquisition [Line Items]                      
Business Combination, Consideration Transferred       $ 116,500,000              
North Star Leasing | Base Earn Out                      
Business Acquisition [Line Items]                      
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High     2,700,000                
North Star Leasing | Bonus Earn Out                      
Business Acquisition [Line Items]                      
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High     $ 625,000                
North Star Leasing | Short-term Debt                      
Business Acquisition [Line Items]                      
Business Combination, Consideration Transferred           $ 69,100,000          
Triumph Premium Finance [Member]                      
Business Acquisition [Line Items]                      
Goodwill                 $ 5,500,000    
Justice & Stamper Insurance Agency, Inc                      
Business Acquisition [Line Items]                      
Business Combination, Consideration Transferred   $ 325,000                  
Goodwill   $ 46,000                  
Premier Financial Bancorp, Inc.                      
Business Acquisition [Line Items]                      
Business Combination, Consideration Transferred 261,924,000                    
Cash and balances due from banks 251,763,000                    
Interest-bearing deposits in other banks 1,025,000                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents 252,788,000                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment 33,835,000                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles 4,233,000                    
Other Real Estate, Foreclosed Assets, and Repossessed Assets 11,101,000                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets 19,671,000                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets 2,022,971,000                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities 63,807,000                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities 6,070,000                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities 6,036,000                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities 1,832,036,000                    
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net 190,935,000                    
Goodwill 70,989,000                    
Business Combination, Acquired Receivable, Fair Value 1,133,890,000                    
Salaries and employee benefit costs 3,700,000                    
Professional fees 4,200,000                    
Data processing and software expense 83,000,000                    
Marketing Expense 181,000                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Par Value 285,328,000                    
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase (22,334,000)                    
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) (10,131,000)                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Purchase Price 252,863,000                    
Noninterest Expense $ 9,800,000                    
Shares, Outstanding 14,811,200                    
Business Acquisition, Share Price $ 30.49                    
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned $ 261,899,000                    
Payments to Acquire Businesses, Gross 25,000                    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss $ 1,174,826,000                    
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table provides the preliminary purchase price calculation as of the date of the Merger with Premier, and the assets acquired and liabilities assumed at their estimated fair values.
(Dollars in thousands)Unpaid Principal BalanceFair Value
Premier common shares14,811,200 
Number of common shares of Peoples issued for each common share of Premier0.58 
Price per Peoples common share, based at closing date$30.49 
Common share consideration261,899 
Cash paid in lieu of fractional common shares25 
Total consideration$261,924 
Net assets at fair value
Assets
Cash and due from banks$251,763 
Interest-bearing deposits in other banks1,025 
Total cash and cash equivalents252,788 
Available-for-sale investment securities563,294 
Other investment securities4,159 
Total investment securities567,453 
Loans:
  Construction97,262 93,819 
  Commercial real estate, other544,950 517,315 
  Commercial and industrial132,293 127,880 
  Residential real estate332,269 327,508 
  Home equity lines of credit46,969 45,841 
  Consumer21,083 21,527 
Total loans1,174,826 1,133,890 
Bank premises and equipment33,835 
Other intangible assets4,233 
OREO11,101 
Other assets19,671 
    Total assets$2,022,971 
(Dollars in thousands)Unpaid Principal BalanceFair Value
Liabilities
Deposits:
Non-interest-bearing$735,236 
Interest-bearing1,020,887 
Total deposits1,756,123 
Short-term borrowings63,807 
Long-term borrowings6,070 
Accrued expenses and other liabilities6,036 
Total liabilities1,832,036 
Net assets190,935 
Goodwill$70,989 
The recorded goodwill associated with the Premier merger is related to expected synergies and operational efficiencies to be gained from the combination of Premier with Peoples' operations. None of the goodwill associated with the Premier merger is expected to be deductible for tax purposes. The geographic locations of Premier will allow Peoples to continue to grow the loan and deposit portfolios, while also increasing Peoples' ability to penetrate the new markets with wealth management and insurance services, which should benefit Peoples in future periods. Additional information regarding other intangibles recognized in the acquisition can be found in "Note 5 Goodwill and Other Intangible Assets."
The following is a description of the methods used to determine the fair values of significant assets and liabilities presented above.
Cash and Cash Equivalents: Cash and cash equivalents include cash on hand, balances due from other banks, interest-bearing deposits in other banks, federal funds sold and other short-term investments with original maturities of ninety days or less. The carrying amount for cash and due from banks is a reasonable estimate of fair value.
Investment Securities: Fair values for investment securities are based on quoted market prices, where available. If quoted market prices are not available, fair value estimates are based on observable inputs including quoted market prices for similar instruments, quoted market prices that are not in an active market or other inputs that are observable in the market. In the absence of observable inputs, fair value is estimated based on pricing models and/or discounted cash flow methodologies.
Loans: Fair values for loans were based on a discounted cash flow methodology that considered factors including the type of loan, related collateral, classification status, fixed or variable interest rate, term, amortization status and current discount rates. Loans were grouped together according to similar characteristics when applying various valuation techniques. The discount rates used for loans are based on current market rates at the acquisition date for new originations for comparable loans and include adjustments for liquidity. The discount rate does not include a factor for credit losses as that has been included as a reduction to the estimated cash flows.
Bank Premises and Equipment: The fair values of premises were based on a market approach, with third-party appraisals and broker opinions of value for land, office and branch space.
OREO: The fair values of OREO were based on a market approach, with third-party appraisals and broker opinions of value for land and buildings.
Customer Deposit Intangible: The customer deposit intangible represents the low cost of funding acquired core deposits provide relative to a marginal cost of funds. The fair value was estimated based on a discounted cash flow methodology that gave consideration to expected customer attrition rates, net maintenance cost of the deposit base, alternative cost of funds, and the interest costs associated with customer deposits. The customer deposit intangible is being amortized over 10 years based upon the period over which estimated economic benefits are estimated to be received.
Deposits: The fair values used for the demand and savings deposits equal the amount payable on demand at the acquisition date. The fair values for time deposits were estimated using a discounted cash flow calculation that applies interest rates being offered at the acquisition date to the contractual interest rates on such time deposits.
Borrowings: Short-term borrowings consist of overnight repurchase agreements and rates, and given their short-term nature book value approximated fair value. The fair values of long-term borrowings are estimated using discounted cash flow analyses, based on incremental borrowing rates at acquisition date for similar types of instruments.
Loans acquired by Peoples in a business combination that have evidence of more than insignificant credit deterioration, which includes loans that Peoples believes it is probable that Peoples will be unable to collect all contractually required payments, are considered "purchased credit deteriorated" loans. Acquired purchased credit deteriorated loans are reported net of the unamortized fair
value adjustment. These loans are recorded at the purchase price, and an allowance for credit losses is determined based upon discrete credit marks, along with discounted cash flow models based upon similar pools of loans, using a similar methodology as for other loans. The following table details the fair value adjustment for acquired purchased credit deteriorated loans as of the acquisition date:
(Dollars in thousands)Par ValueAllowance for Credit LossesNon-Credit (Discount) PremiumFair Value
Purchased credit deteriorated loans
Construction$23,232 $(2,127)$(219)$20,886 
Commercial real estate, other176,122 (13,374)(8,022)154,726 
Commercial and industrial26,341 (4,286)281 22,336 
Residential real estate56,005 (2,394)(2,166)51,445 
Home equity lines of credit2,014 (41)(68)1,905 
Consumer1,614 (112)63 1,565 
Fair value$285,328 $(22,334)$(10,131)$252,863 
                    
Premier Financial Bancorp, Inc. | Non-interest-bearing deposits                      
Business Acquisition [Line Items]                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities $ 735,236,000                    
Premier Financial Bancorp, Inc. | Interest-bearing Deposits [Member]                      
Business Acquisition [Line Items]                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities 1,020,887,000                    
Premier Financial Bancorp, Inc. | Deposits                      
Business Acquisition [Line Items]                      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities $ 1,756,123,000                    
Premier Financial Bancorp, Inc. | Common Shares                      
Business Acquisition [Line Items]                      
Stock Issued During Period, Shares, Acquisitions 8,589,685         8,589,685          
Premier Financial Bancorp, Inc. | Available-for-sale securities                      
Business Acquisition [Line Items]                      
Business Combination, Acquired Receivable, Fair Value $ 563,294,000                    
Premier Financial Bancorp, Inc. | Debt Securities [Member]                      
Business Acquisition [Line Items]                      
Business Combination, Acquired Receivable, Fair Value 567,453,000                    
Premier Financial Bancorp, Inc. | Bankers Bank Kentucky and Community Banker Bank                      
Business Acquisition [Line Items]                      
Business Combination, Acquired Receivable, Fair Value 4,159,000                    
Premier Financial Bancorp, Inc. | Construction                      
Business Acquisition [Line Items]                      
Business Combination, Acquired Receivable, Fair Value 93,819,000                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Par Value 23,232,000                    
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase (2,127,000)                    
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) (219,000)                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Purchase Price 20,886,000                    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 97,262,000                    
Premier Financial Bancorp, Inc. | Commercial and industrial                      
Business Acquisition [Line Items]                      
Business Combination, Acquired Receivable, Fair Value 127,880,000                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Par Value 26,341,000                    
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase (4,286,000)                    
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) 281,000                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Purchase Price 22,336,000                    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 132,293,000                    
Premier Financial Bancorp, Inc. | Residential real estate                      
Business Acquisition [Line Items]                      
Business Combination, Acquired Receivable, Fair Value 327,508,000                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Par Value 56,005,000                    
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase (2,394,000)                    
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) (2,166,000)                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Purchase Price 51,445,000                    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 332,269,000                    
Premier Financial Bancorp, Inc. | Home Equity Loan                      
Business Acquisition [Line Items]                      
Business Combination, Acquired Receivable, Fair Value 45,841,000                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Par Value 2,014,000                    
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase (41,000)                    
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) (68,000)                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Purchase Price 1,905,000                    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 46,969,000                    
Premier Financial Bancorp, Inc. | Consumer, direct                      
Business Acquisition [Line Items]                      
Business Combination, Acquired Receivable, Fair Value 21,527,000                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Par Value 1,614,000                    
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase (112,000)                    
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) 63,000                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Purchase Price 1,565,000                    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss 21,083,000                    
Premier Financial Bancorp, Inc. | Commercial Real Estate Portfolio Segment [Member]                      
Business Acquisition [Line Items]                      
Business Combination, Acquired Receivable, Fair Value 517,315,000                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Par Value 176,122,000                    
Financing Receivable, Allowance for Credit Loss, Purchased with Credit Deterioration, Increase (13,374,000)                    
Financing Receivable, Purchased with Credit Deterioration, Discount (Premium) (8,022,000)                    
Financing Receivable, Purchased with Credit Deterioration, Amount at Purchase Price 154,726,000                    
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss $ 544,950,000