Revenue (Tables)

3 Months Ended

Mar. 31, 2022

Revenue Recognition and Deferred Revenue [Abstract]

Summary of Revenue

The following table details Peoples' revenue from contracts with customers:

	Three Months Ended
	March 31,
(Dollars in thousands)	2022		2021
Insurance income:
Commission and fees from sale of insurance policies (a)	$	3,313	$	3,177
Fees related to third-party administration services (a)	72		94
Performance-based commissions (b)	1,346		1,950
Trust and investment income (a)	4,276		3,845
Electronic banking income:
Interchange income (a)	4,113		3,046
Promotional and usage income (a)	1,140		865
Deposit account service charges:
Ongoing maintenance fees for deposit accounts (a)	1,311		810
Transactional-based fees (b)	2,115		1,175
Commercial loan swap fees (b)	168		60
Other non-interest income transactional-based fees (b)	257		144
Total revenue from contracts with customers	$	18,111	$	15,166
Timing of revenue recognition:
Services transferred over time	$	14,225	$	11,837
Services transferred at a point in time	3,886		3,329
Total revenue from contracts with customers	$	18,111	$	15,166

(a) Services transferred over time.

(b) Services transferred at a point in time.

Summary of Contract Assets and Liabilities

The following table details the changes in Peoples' contract assets and contract liabilities for the three-month period ended March 31, 2022:

	Contract Assets		Contract Liabilities
(Dollars in thousands)
Balance, January 1, 2022	$	743	$	4,811
Additional income receivable	74		—
Recognition of income previously deferred	—		(349)
Balance, March 31, 2022	$	817	$	4,462