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Loans (Tables)
 12 Months Ended
Dec. 31, 2020
Receivables [Abstract]  
Loan Classification by Type
The major classifications of loan balances (in each case, net of deferred fees and costs) excluding loans held for sale, were as follows at December 31:
(Dollars in thousands)20202019
Construction$106,792 $88,518 
Commercial real estate, other929,853 833,238 
Commercial and industrial973,645 662,993 
Premium finance114,758 — 
Residential real estate574,007 661,476 
Home equity lines of credit120,913 132,704 
Consumer, indirect503,527 417,185 
Consumer, direct79,094 76,533 
Deposit account overdrafts351 878 
Total loans, at amortized cost$3,402,940 $2,873,525 
Related Party Loans Activity in related party loans is presented in the table below. Other changes primarily consist of changes in related party status, and the addition and exit of directors during the year, as applicable.
(Dollars in thousands) 
Balance, December 31, 2019$15,380 
New loans and disbursements3,932 
Repayments(5,053)
Other changes(1,128)
Balance, December 31, 2020$13,131 
Nonaccrual and Past Due Loans
The amortized cost of loans on nonaccrual status and loans delinquent for 90 days or more and accruing were as follows at December 31:
20202019
(Dollars in thousands)
Nonaccrual (a)(b)
Accruing Loans 90+ Days Past Due
Nonaccrual (a)
Accruing Loans 90+ Days Past Due (b)
Construction$4 $— $411 $— 
Commercial real estate, other9,111 — 6,801 907 
Commercial and industrial6,192 50 2,155 155 
Premium finance— 589 — — 
Residential real estate8,375 1,975 6,361 2,677 
Home equity lines of credit867 82 1,165 108 
Consumer, indirect1,073 39 840 — 
Consumer, direct171 17 48 85 
Total loans, at amortized cost$25,793 $2,752 $17,781 $3,932 
(a)There were $1.3 million of nonaccrual loans for which there was no allowance for credit losses as of December 31, 2020 and $3.1 million of such loans at December 31, 2019.
(b) The new accounting for purchased credit deteriorated loans under ASU 2016-13 resulted in the movement of $3.9 million of loans from the 90+ days past due and accruing category to the nonaccrual category as of January 1, 2020. At December 31, 2019, these loans were presented as 90+ days past due and accruing.
Loans By Risk Category
The following tables summarize the risk category of Peoples' loan portfolio based upon the most recent analysis performed at December 31:
(Dollars in thousands)20202019201820172016PriorRevolving LoansRevolving Loans Converted to Term
Total
Loans
Construction

  Pass$27,670 $56,361 $554 $15,089 $824 $1,194 $3,199 $2,003 $104,891 
  Special mention— — 496 — — 143 — — 639 
  Substandard— — — 186 — 1,076 — — 1,262 
     Total27,670 56,361 1,050 15,275 824 2,413 3,199 2,003 106,792 
Commercial real estate, other

  Pass116,441 125,373 99,522 94,465 99,668 215,385 109,160 9,748 860,014 
  Special mention297 5,806 999 5,296 5,125 12,932 3,967 60 34,422 
  Substandard— 1,191 677 1,709 1,663 27,066 3,033 110 35,339 
  Doubtful— — — — — 78 — — 78 
     Total116,738 132,370 101,198 101,470 106,456 255,461 116,160 9,918 929,853 
Commercial and industrial
  Pass409,237 97,362 67,284 38,450 45,026 77,009 199,597 30,680 933,965 
  Special mention1,034 366 2,018 287 1,453 1,452 12,429 526 19,039 
  Substandard2,226 3,569 2,873 2,167 318 4,163 3,436 1,083 18,752 
  Doubtful— — — — 1,698 191 — 187 1,889 
     Total412,497 101,297 72,175 40,904 48,495 82,815 215,462 32,476 973,645 
Premium finance
  Pass114,758 — — — — — — — 114,758 
Total114,758 — — — — — — — 114,758 
Residential real estate
  Pass47,147 40,223 24,235 29,142 43,105 309,795 65,168 305 558,815 
  Substandard— — — — — 15,048 — — 15,048 
   Loss— — — — — 144 — — 144 
     Total47,147 40,223 24,235 29,142 43,105 324,987 65,168 305 574,007 
Home equity lines of credit
  Pass16,469 13,513 12,548 12,382 11,869 40,626 13,506 4,091 120,913 
     Total16,469 13,513 12,548 12,382 11,869 40,626 13,506 4,091 120,913 
Consumer, indirect
  Pass210,014 92,696 71,807 39,608 17,156 11,563 60,683 — 503,527 
     Total210,014 92,696 71,807 39,608 17,156 11,563 60,683 — 503,527 
Consumer, direct
  Pass31,689 15,923 11,085 4,531 2,529 4,193 9,144 — 79,094 
     Total31,689 15,923 11,085 4,531 2,529 4,193 9,144 — 79,094 
Deposit account overdrafts351 — — — — — — — 351 
Total loans, at amortized cost$977,333 $452,383 $294,098 $243,312 $230,434 $722,058 $483,322 $48,793 $3,402,940 
Troubled Debt Restructurings on Financing Receivables
The following table summarizes the loans that were modified as TDRs during the years ended December 31, 2020 and 2019.
Recorded Investment (a)
(Dollars in thousands)Number of ContractsPre-ModificationPost-ModificationRemaining Recorded Investment
2020
Commercial real estate, other5 $2,294 $2,294 $2,217 
Commercial and industrial6 3,820 3,820 3,736 
Residential real estate16 1,388 1,423 1,406 
Home equity lines of credit7 123 123 116 
Consumer, indirect27 349 349 313 
Consumer , direct7 99 99 89 
Consumer34 448 448 402 
Total68 $8,073 $8,108 $7,877 
2019
Originated loans:
Commercial and industrial2 $38 $38 $32 
Residential real estate3 437 440 431 
Home equity lines of credit4 139 139 136 
Consumer, indirect17 260 260 234 
Consumer, direct3 52 52 45 
   Consumer20 312 312 279 
Total29 $926 $929 $878 
Acquired loans:
Construction3 $101 $76 $76 
Commercial and industrial5 1,557 1,557 1,464 
Residential real estate38 2,069 2,069 1,967 
Home equity lines of credit8 172 173 164 
Consumer, direct10 124 124 114 
Total64 $4,023 $3,999 $3,785 
(a) The amounts shown are inclusive of all partial paydowns and charge-offs. Loans modified in a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported.
Financing Receivables, Collateral Dependent
The following table details Peoples' amortized cost of collateral dependent loans at December 31:
(Dollars in thousands)20202019
Commercial real estate, other$8,467 $6,818 
Commercial and industrial6,333 1,962 
Residential real estate1,670 1,847 
Home equity lines of credit403 681 
Consumer, indirect— 713 
Consumer, direct— 94 
Total collateral dependent loans$16,873 $12,115 
us-gaap_ScheduleOfFinancialInstrumentsOwnedAndPledgedAsCollateralTextBlock Loans pledged are summarized as follows at December 31:
(Dollars in thousands)20202019
Loans pledged to FHLB$740,584 $458,227 
Loans pledged to FRB107,340 172,693