Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Restricted Shares Activity

The following table summarizes the changes to Peoples’ restricted common shares for the six months ended June 30, 2021:

	Time-Based Vesting			Performance-Based Vesting
	Number of Common Shares	Weighted-Average Grant Date Fair Value		Number of Common Shares	Weighted-Average Grant Date Fair Value
Outstanding at January 1	67,758	$	23.71	250,992	$	33.36
Awarded	21,122	33.14		76,819	31.48
Released	4,877	34.98		73,611	35.43
Forfeited	500	34.75		4,107	32.57
Outstanding at June 30	83,503	$	25.37	250,093	$	32.19

Summary of Stock-Based Compensation and Related Tax Benefit

The following table summarizes the amount of stock-based compensation expense and related tax benefit recognized for each period:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(Dollars in thousands)	2021		2020		2021		2020
Employee stock-based compensation expense:
Stock grant expense	$	585	$	955	$	1,784	$	2,335
Employee stock purchase plan expense	18		15		$	34	$	30
Performance unit benefit	—		—		$	—	$	(12)
Total employee stock-based compensation expense	603		970		$	1,818	$	2,353
Non-employee director stock-based compensation expense	55		53		$	250	$	235
Total stock-based compensation expense	658		1,023		$	2,068	$	2,588
Recognized tax benefit	(138)		(214)		(434)		(543)
Net stock-based compensation expense	$	520	$	809	$	1,634	$	2,045