XML 60 R19.htm IDEA: XBRL DOCUMENT v3.19.3
Revenue (Notes)
 9 Months Ended
Sep. 30, 2019
Revenue Recognition and Deferred Revenue [Abstract]  
Revenue from Contract with Customer [Text Block]
Revenue
The following table details Peoples' revenue from contracts with customers:
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
(Dollars in thousands)
2019
2018
 
2019
2018
Insurance income:
 
 
 
 
 
Commission and fees from sale of insurance policies (a)
$
3,173

$
3,159

 
$
9,512

$
9,541

Fees related to third-party administration services (a)
140

131

 
486

423

Performance-based commissions (b)
73

98

 
1,495

1,448

Trust and investment income (a)
3,205

3,110

 
9,718

9,410

Electronic banking income:
 
 
 
 
 
Interchange income (a)
2,842

2,464

 
8,032

7,248

Promotional and usage income (a)
735

426

 
1,799

1,212

Deposit account service charges:
 
 
 
 
 
Ongoing maintenance fees for deposit accounts (a)
1,049

691

 
2,813

2,012

Transactional-based fees (b)
2,184

1,961

 
5,738

5,148

Commercial loan swap fees (b)
772

355

 
1,434

617

Other non-interest income transactional-based fees (b)
174

228

 
598

772

Total
$
14,347

$
12,623

 
$
41,625

$
37,831

 
 
 
 
 
 
Timing of revenue recognition:
 
 
 
 
 
Services transferred over time
$
11,144

$
9,981

 
$
32,360

$
29,846

Services transferred at a point in time
3,203

2,642

 
9,265

7,985

Total
$
14,347

$
12,623

 
$
41,625

$
37,831


(a) Services transferred over time.
(b) Services transferred at a point in time.
Peoples records contract assets for income that has been recognized over a period of time for fulfillment of performance obligations, but has not yet been received related to electronic banking income. This income typically relates to bonuses for which Peoples is eligible, but will not receive until a certain time in the future. Peoples records contract liabilities for payments received for commission income related to the sale of insurance policies, for which the performance obligations have not yet been fulfilled. The contract liabilities are recognized as income over time, during the period in which the performance obligations are fulfilled, which is over the insurance policy period. Peoples also records contract liabilities for bonuses received related to electronic banking income, for which income is recognized during the period in which the performance obligations are fulfilled.
The following table details the change in Peoples' contract assets and contract liabilities for the period ended September 30, 2019:
 
Contract Assets
Contract Liabilities
(Dollars in thousands)
Balance, January 1, 2019
$
207

$
5,055

     Additional income receivable
324

—

     Additional deferred income
—

4,468

     Receipt of income previously receivable
(11
)
—

     Recognition of income previously deferred
—

(4,211
)
Balance, September 30, 2019
$
520

$
5,312