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Bank Owned Life Insurance (Notes)
9 Months Ended
Sep. 30, 2013
Bank Owned Life Insurance [Abstract]  
Life Insurance, Corporate or Bank Owned [Text Block]
Bank Owned Life Insurance

In May 2013, Peoples initiated a partial surrender of its bank owned life insurance ("BOLI") contracts, resulting in a $5.2 million payout. In July 2013, Peoples requested the surrender of BOLI contracts reported at approximately $42.8 million, with a cost basis of $36.5 million at June 30, 2013. Peoples received notification from the insurance carrier that the surrender request had been processed in July 2013. Peoples received approximately $36.2 million in July 2013 in partial satisfaction of the surrender request, and recorded the remainder as a receivable with the expectation of receiving it within six months of the surrender notification.
As a result of this transaction, Peoples recorded an additional $2.2 million in income tax expense in the third quarter of 2013.