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Investment Securities (Tables)
 6 Months Ended
Jun. 30, 2021
Investment Holdings [Line Items]  
Summary of Available-for-sale Investment Securities
The following table summarizes Peoples' available-for-sale investment securities:

(Dollars in thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
June 30, 2021    
Obligations of:    
U.S. government sponsored agencies$14,345 $85 $(195)$14,235 
States and political subdivisions221,354 4,212 (1,713)223,853 
Residential mortgage-backed securities571,447 11,712 (4,007)579,152 
Commercial mortgage-backed securities27,840 112 (321)27,631 
Bank-issued trust preferred securities4,696 242 (172)4,766 
Total available-for-sale securities$839,682 $16,363 $(6,408)$849,637 
December 31, 2020    
Obligations of:    
U.S. government sponsored agencies$4,960 $403 $— $5,363 
States and political subdivisions110,401 4,642 (124)114,919 
Residential mortgage-backed securities609,865 15,377 (2,024)623,218 
Commercial mortgage-backed securities4,622 161 — 4,783 
Bank-issued trust preferred securities4,696 192 (158)4,730 
Total available-for-sale securities$734,544 $20,775 $(2,306)$753,013 
Schedule of Gross Gains and Losses from Sales of Available-for-sale Securities The gross gains and losses realized by Peoples from sales of available-for-sale securities for the periods ended June 30 were as follows:
Three Months EndedSix Months Ended
June 30,June 30,
(Dollars in thousands)2021202020212020
Gross gains realized$297 $65 $636 $384 
Gross losses realized(499)(3)(1,174)(3)
Net (loss) gain realized$(202)$62 $(538)$381 
Summary of Available-for-sale Securities with Unrealized Loss
The following table presents a summary of available-for-sale investment securities that had an unrealized loss:
 Less than 12 Months12 Months or MoreTotal
(Dollars in thousands)
Fair
Value
Unrealized LossNo. of Securities
Fair
Value
Unrealized LossNo. of Securities
Fair
Value
Unrealized Loss
June 30, 2021        
Obligations of:
U.S. government sponsored agencies
$10,655 $195 $2 $— $— $— $10,655 $195 
States and political subdivisions73,895 1,713 28 — — — 73,895 1,713 
Residential mortgage-backed securities
228,726 3,744 45 12,636 263 12 241,362 4,007 
Commercial mortgage-backed securities
20,302 321 6 — — — 20,302 321 
Bank-issued trust preferred securities
— — — 1,828 172 2 1,828 172 
Total$333,578 $5,973 81 $14,464 $435 14 $348,042 $6,408 
December 31, 2020        
Obligations of:
States and political subdivisions$17,651 $124 5 $— $— — $17,651 $124 
Residential mortgage-backed securities
156,659 1,795 45 9,892 229 13 166,551 2,024 
Bank-issued trust preferred securities
494 6 1 1,848 152 2 2,342 158 
Total$174,804 $1,925 51 $11,740 $381 15 $186,544 $2,306 
Summary of Held-to-maturity Investment Securities
The following table summarizes Peoples’ held-to-maturity investment securities:
(Dollars in thousands)Amortized CostAllowance for Credit Losses Gross Unrealized GainsGross Unrealized LossesFair Value
June 30, 2021    
Obligations of:   
 U.S. government sponsored agencies$30,103 $— $99 $(757)$29,445 
States and political subdivisions102,425 (201)1,079 (1,563)101,740 
Residential mortgage-backed securities24,067 — 676 — 24,743 
Commercial mortgage-backed securities23,830 — 324 (195)23,959 
Total held-to-maturity securities$180,425 $(201)$2,178 $(2,515)$179,887 
December 31, 2020    
Obligations of:    
States and political subdivisions$35,199 $(60)$510 $(165)$35,484 
Residential mortgage-backed securities25,890 — 852 — 26,742 
Commercial mortgage-backed securities5,429 — 427 — 5,856 
Total held-to-maturity securities$66,518 $(60)$1,789 $(165)$68,082 
Cost-method Investments, Description [Text Block]
The following table summarizes the carrying value of Peoples' other investment securities:
(Dollars in thousands)June 30, 2021December 31, 2020
FHLB stock$16,523 $21,718 
FRB stock13,311 13,311 
Nonqualified deferred compensation2,013 1,867 
Equity investment securities372 299 
Other investment securities365 365 
Total other investment securities$32,584 $37,560 
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]
The following table summarizes the carrying value of Peoples' pledged securities:
 Carrying Amount
(Dollars in thousands)June 30, 2021December 31, 2020
Securing public and trust department deposits, and repurchase agreements:
     Available-for-sale$559,889 $547,244 
     Held-to-maturity118,803 28,287 
Securing collateral for cash flow hedge swaps:
     Available-for-sale39,640 — 
Securing additional borrowing capacity at the FHLB and the FRB:
     Available-for-sale2,300 2,175 
Available-for-sale securities  
Investment Holdings [Line Items]  
Summary of Investment Securities by Contractual Maturity
The table below presents the amortized cost, fair value and total weighted-average yield of available-for-sale securities by contractual maturity at June 30, 2021.  The weighted-average yields are based on the amortized cost.  In some cases, the issuers may have the right to call or prepay obligations without call or prepayment penalties prior to the contractual maturity date.
 
(Dollars in thousands)Within 1 Year1 to 5 Years5 to 10 YearsOver 10 YearsTotal
Amortized cost     
Obligations of:     
U.S. government sponsored agencies$— $1,995 $2,500 $9,850 $14,345 
States and political subdivisions7,714 26,841 53,403 133,396 221,354 
Residential mortgage-backed securities1 3,652 42,869 524,925 571,447 
Commercial mortgage-backed securities1,319 798 9,912 15,811 27,840 
Bank-issued trust preferred securities— — 4,696 — 4,696 
Total available-for-sale securities$9,034 $33,286 $113,380 $683,982 $839,682 
Fair value     
Obligations of:     
U.S. government sponsored agencies$— $2,080 $2,489 $9,666 $14,235 
States and political subdivisions7,774 27,879 54,874 133,326 223,853 
Residential mortgage-backed securities1 3,688 43,101 532,362 579,152 
Commercial mortgage-backed securities1,337 814 9,860 15,620 27,631 
Bank-issued trust preferred securities— — 4,766 — 4,766 
Total available-for-sale securities$9,112 $34,461 $115,090 $690,974 $849,637 
Total weighted-average yield2.20 %2.42 %1.91 %1.81 %1.85 %
Held-to-maturity securities  
Investment Holdings [Line Items]  
Summary of Held-to-maturity Securities with Unrealized Loss
The following table presents a summary of held-to-maturity investment securities that had an unrealized loss:
 Less than 12 Months12 Months or MoreTotal
(Dollars in thousands)Fair
Value		Unrealized LossNo. of SecuritiesFair
Value		Unrealized LossNo. of SecuritiesFair
Value		Unrealized Loss
June 30, 2021        
Obligations of:
U.S. government sponsored agencies$25,860 $757 5 — — — $25,860 $757 
States and political subdivisions47,469 1,563 14 — — — 47,469 1,563 
Commercial mortgage-backed securities
11,534 195 2 — — — 11,534 195 
Total$84,863 $2,515 21 $— $— — $84,863 $2,515 
December 31, 2020        
Obligations of:
States and political subdivisions$18,662 $165 5 $— $— — $18,662 $165 
Total$18,662 $165 5 $— $— — $18,662 $165 
Summary of Investment Securities by Contractual Maturity
The table below presents the amortized cost, fair value and total weighted-average yield of held-to-maturity securities by contractual maturity at June 30, 2021.  The weighted-average yields are based on the amortized cost and are computed on a fully taxable-equivalent basis using a statutory federal corporate income tax rate of 21%.  In some cases, the issuers may have the right to call or prepay obligations without call or prepayment penalties prior to the contractual maturity date.
  
(Dollars in thousands)Within 1 Year1 to 5 Years5 to 10 YearsOver 10 YearsTotal
Amortized cost     
Obligations of:     
U.S. government sponsored agencies$— $— $— $30,103 $30,103 
States and political subdivisions— 989 2,511 98,925 102,425 
Residential mortgage-backed securities— 2,211 — 21,856 24,067 
Commercial mortgage-backed securities— 362 3,683 19,785 23,830 
Total held-to-maturity securities$— $3,562 $6,194 $170,669 $180,425 
Fair value     
Obligations of:     
U.S. government sponsored agencies$— $— $— $29,445 $29,445 
States and political subdivisions— 1,141 2,812 97,787 101,740 
Residential mortgage-backed securities— 2,302 — 22,441 24,743 
Commercial mortgage-backed securities— 366 3,951 19,642 23,959 
Total held-to-maturity securities$— $3,809 $6,763 $169,315 $179,887 
Total weighted-average yield— %0.23 %3.08 %2.13 %2.12 %