Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The reported income tax expense and effective tax rate in the Consolidated Statements of Income differs from the amounts computed by applying the statutory corporate tax rate as follows for the years ended December 31:



	2012					2011					2010
(Dollars in thousands)	Amount			Rate		Amount			Rate		Amount			Rate
Income tax computed at statutory federal tax rate	$	10,469		35.0	%	$	5,890		34.3	%	$	1,956		34.0	%
Differences in rate resulting from:
Tax-exempt interest income	(565		)	(1.9	)%	(574		)	(3.4	)%	(808		)	(14.1	)%
Investments in tax credit funds	(387		)	(1.3	)%	(497		)	(2.9	)%	(715		)	(12.4	)%
Bank owned life insurance	(14		)	(0.1	)%	(44		)	(0.3	)%	(207		)	(3.6	)%
Other, net	22			0.1	%	(179		)	(0.9	)%	(54		)	(0.9	)%
Total income tax expense	$	9,525		31.8	%	$	4,596		26.8	%	$	172		3.0	%

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Peoples' reported income tax expense consisted of the following for the years ended December 31:



(Dollars in thousands)	2012		2011		2010
Current income tax	$	5,004	$	4,134	$	1,986
Deferred income tax (benefit)	4,521		462		(1,814		)
Total income tax expense	$	9,525	$	4,596	$	172

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The significant components of Peoples' deferred tax assets and liabilities consisted of the following at December 31:



(Dollars in thousands)	2012		2011
Deferred tax assets:
Allowance for loan losses	$	7,526	$	8,833
Tax credit carryforward	4,607		6,412
Investments	3,632		3,628
Accrued employee benefits	3,421		3,026
Other	516		1,203
Total deferred tax assets	$	19,702	$	23,102
Deferred tax liabilities:
Purchase accounting adjustments	5,460		4,733
Available-for-sale securities	3,711		4,005
Bank premises and equipment	1,536		1,478
Deferred loan income	1,442		1,398
Other	1,830		1,584
Total deferred tax liabilities	$	13,979	$	13,198
Net deferred tax asset	$	5,723	$	9,904