Leases (Tables)

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Income and Expenses, Lessee [Abstract]

The table below details Peoples' lease expense, which is included in "Net occupancy and equipment expense" in the Unaudited Consolidated Statements of Operations:

	Three Months Ended				Six Months Ended
(Dollars in thousands)	June 30, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Operating lease expense	$	350	$	327	680		661
Short-term lease expense	100		84		172		160
Total lease expense	$	450	$	411	$	852	$	821

Lease, Cost [Table Text Block]

The following table details the ROU asset, the lease liability and other information related to Peoples' operating leases:

(Dollars in thousands)	June 30, 2021			December 31, 2020
ROU asset:
Other assets	$	6,577		$	6,522
Lease liability:
Accrued expenses and other liabilities	$	6,863		$	6,776
Other information:
Weighted-average remaining lease term	11.8 years			12.4 years
Weighted-average discount rate	2.94		%	3.14		%

Finance Lease, Liability, Maturity [Table Text Block]

The following table summarizes the maturity of remaining lease liabilities:

(Dollars in thousands)	Balance
Remaining six months ending December 31, 2021	$	789
Year ending December 31, 2022	1,194
Year ending December 31, 2023	996
Year ending December 31, 2024	724
Year ending December 31, 2025	586
Thereafter	4,240
Total undiscounted lease payments	$	8,529
Imputed interest	$	(1,666)
Total lease liability	$	6,863

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

The following table summarizes the contractual maturities of leases:

(Dollars in thousands)	Balance
Remaining six months ending December 31, 2021	$	23,671
Year ending December 31, 2022	40,037
Year ending December 31, 2023	29,146
Year ending December 31, 2024	17,567
Year ending December 31, 2025	8,564
Thereafter	1,419
Lease payment receivables, at amortized cost	$	120,404

Sales-type Lease, Lease Income

The table below details Peoples' lease income:

	Three Months Ended		Six Months Ended
(Dollars in thousands)	June 30, 2021		June 30, 2021
Interest and fees on leases (a)	$	4,215	4,215
Other non-interest income	245		245
Total lease income	$	4,460	$	4,460

(a)Included in "Interest and fees on loans" on the Unaudited Consolidated Statements of Operations.

For additional information, see "Note 4 Loans and Leases" of the Notes to the Unaudited Condensed

Consolidated Financial Statements.

Sales-type and Direct Financing Leases, net investments [Table]

The following table summarizes the net investments in sales-type leases, which are included in "Loans and leases, net of deferred costs" on the Unaudited Consolidated Balance Sheets:

(Dollars in thousands)	June 30, 2021
Lease payments receivable, at amortized cost	$	120,404
Estimated residual values	155
Initial direct costs	453
Deferred revenue	(25,369)
Total leases, at amortized cost	95,643
Allowance for credit losses - leases	(3,715)
Net investment in sales-type leases	$	91,928