Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block]

Changes in the accretable yield for purchased credit impaired loans during the year ended December 31 were as follows:

(Dollars in thousands)	2019		2018
Balance, beginning of period	$	8,955	$	6,704
Reclassification from nonaccretable to accretable	199		2,019
Additions:
ASB	—		2,047
First Prestonsburg	3,860		—
Accretion	(2,955)		(1,815)
Balance, December 31	$	10,059	$	8,955

Acquired loans, excluding acquired overdrafts of $375,000, are reported net of the unamortized fair value adjustment. The following table details the fair value adjustment for acquired loans as of the acquisition date:

(Dollars in thousands, except per share data)	First Prestonsburg
Nonimpaired Loans
Contractual cash flows	$	168,729
Nonaccretable difference	19,745
Expected cash flows	148,984
Accretable yield	28,269
Fair value	$	120,715
Credit Impaired Loans
Contractual cash flows	$	17,847
Nonaccretable difference	5,337
Expected cash flows	12,510
Accretable yield	3,860
Fair value	$	8,650

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table provides the purchase price calculation as of the date of acquisition of First Prestonsburg, and the assets acquired and liabilities assumed at their estimated fair values.

(Dollars in thousands, except per share data)
Consideration
Common shares	80,362
Number of common shares of Peoples issued for each common share of acquired company	12.512
Price per Peoples common share, based at closing date	$	32.26
Common share consideration	$	32,437
Net Assets at Fair Value
Assets
Cash and due from banks	$	5,016
Interest-bearing deposits in other banks	2,797
Total cash and cash equivalents	7,813
Available-for-sale investment securities	136,596
Other investment securities	3,077
Total investment securities	139,673
Loans	129,365
Bank premises and equipment, net of accumulated depreciation	7,407
Other intangible assets	4,234
Other assets	2,415
Total assets	$	290,907
Liabilities
Deposits:
Non-interest-bearing	$	40,089
Interest-bearing	217,151
Total deposits	257,240
Short-term borrowings	14,400
Accrued expenses and other liabilities	1,286
Total liabilities	$	272,926
Net assets	$	17,981
Goodwill	$	14,456

The estimated fair values presented in the above table reflect additional information that was obtained during the three months ended December 31, 2019, which resulted in changes to certain fair value estimates made as of the date of acquisition. Adjustments to acquisition date estimated fair values are recorded during the period in which they occur and, as a result, previously recorded results have changed. The below table reflects the changes in the estimated fair value at December 31, 2019 from balances reported at September 30, 2019:

(Dollars in thousands)	Change in Fair Value
Net Assets
Bank premises and equipment, net of accumulated depreciation	$	(190)
Other assets	208
Accrued expenses and other liabilities	(775)
Change in Goodwill	$	793