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Leases (Tables)
 6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Summary of Sales Type Lease Income
The table below details Peoples' lease income:
 Three Months EndedSix Months Ended
(Dollars in thousands)June 30, 2022June 30, 2021June 30, 2022June 30, 2021
Interest and fees on leases (a)$10,541 $4,215 $16,643 $4,215 
Other non-interest income431 245 1,206 245 
Total lease income$10,972 $4,460 $17,849 $4,460 
(a)Included in "Interest and fees on loans and leases" 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.
Summary of Sales Type Leases
The following table summarizes the net investment in leases, which is included in "Loans and leases, net of deferred costs" on the Unaudited Consolidated Balance Sheets:
(Dollars in thousands)June 30, 2022
Lease payments receivable, at amortized cost$325,643 
Estimated residual values37,171 
Initial direct costs2,549 
Deferred revenue(50,841)
Net investment in leases314,522 
Allowance for credit losses - leases(7,585)
Net investment in leases, after allowance for credit losses$306,937 
Summary of Sales Type Lease Maturity
The following table summarizes the contractual maturities of leases:
(Dollars in thousands)Balance
Remaining six months ending December 31, 2022$52,258 
Year ending December 31, 202373,212 
Year ending December 31, 202479,314 
Year ending December 31, 202568,007 
Year ending December 31, 202635,707 
Thereafter17,145 
Lease payments receivable, at amortized cost$325,643 
Summary of Lease
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 EndedSix Months Ended
(Dollars in thousands)June 30, 2022June 30, 2021June 30, 2022June 30, 2021
Operating lease expense$660 $350 1,263 680 
Short-term lease expense179 100 347 172 
Total lease expense$839 $450 $1,610 $852 
The following table details the ROU assets, the lease liabilities and other information related to Peoples' operating leases at the dates shown:
(Dollars in thousands)June 30, 2022December 31, 2021
ROU assets:
Other assets$7,501 $7,911 
Lease liabilities:
     Accrued expenses and other liabilities$8,226 $8,674 
Other information:
     Weighted-average remaining lease term8.9 years9.5 years
     Weighted-average discount rate2.37 %2.36 %
Summary of Operating Lease Maturities
The following table summarizes the maturity of remaining lease liabilities:
(Dollars in thousands)Balance
Remaining six months ending December 31, 2022$1,483 
Year ending December 31, 20232,033 
Year ending December 31, 20241,210 
Year ending December 31, 2025750 
Year ending December 31, 2026579 
Thereafter3,383 
Total undiscounted lease payments$9,438 
Imputed interest$(1,212)
Total lease liabilities$8,226