Revenue (Notes)

9 Months Ended

Sep. 30, 2020

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)	2020		2019		2020		2019
Insurance income:
Commission and fees from sale of insurance policies (a)	$	3,493	$	3,173	$	9,117	$	9,512
Fees related to third-party administration services (a)	107		140		375		486
Performance-based commissions (b)	9		73		1,437		1,495
Trust and investment income (a)	3,435		3,205		10,013		9,718
Electronic banking income:
Interchange income (a)	3,011		2,842		8,255		8,032
Promotional and usage income (a)	755		735		2,313		1,799
Deposit account service charges:
Ongoing maintenance fees for deposit accounts (a)	848		1,049		2,677		2,813
Transactional-based fees (b)	1,418		2,184		4,318		5,738
Commercial loan swap fees (b)	68		772		1,267		1,434
Other non-interest income transactional-based fees (b)	94		174		624		598
Total revenue from contracts with customers	$	13,238	$	14,347	$	40,396	$	41,625
Timing of revenue recognition:
Services transferred over time	$	11,649	$	11,144	$	32,750	$	32,360
Services transferred at a point in time	1,589		3,203		7,646		9,265
Total revenue from contracts with customers	$	13,238	$	14,347	$	40,396	$	41,625

(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 and certain insurance 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. As of September 30, 2020, there were no material changes to Peoples' revenue contracts related to the COVID-19 pandemic, and there were no changes to the likelihood of collectability under the contracts.

The following table details the change in Peoples' contract assets and contract liabilities for the period ended September 30, 2020:

	Contract Assets		Contract Liabilities
(Dollars in thousands)
Balance, January 1, 2020	$	600	$	5,190
Additional income receivable	519		—
Additional deferred income	—		56
Recognition of income previously deferred	—		(125)
Balance, September 30, 2020	$	1,119	$	5,121