Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Summary of Common Stock and Treasury Stock

The following table details the progression in Peoples’ common shares and treasury stock during the nine months ended September 30, 2022:

	Common Shares	Treasury Stock
Shares at December 31, 2021	29,814,401	1,577,359
Changes related to stock-based compensation awards:
Release of restricted common shares	—	39,445
Cancellation of restricted common shares	—	3,647
Grant of restricted common shares	—	(213,065)
Grant of unrestricted common shares	—	(1,500)
Changes related to deferred compensation plan for Boards of Directors:
Purchase of treasury stock	—	13,167
Disbursed out of treasury stock	—	(3,039)
Common shares repurchased under share repurchase program	—	254,519
Common shares issued under dividend reinvestment plan	31,394	—
Common shares issued under compensation plan for Boards of Directors	—	(13,127)
Common shares issued under employee stock purchase plan	—	(18,832)
Shares at September 30, 2022	29,845,795	1,638,574

Summary of Dividends Declared

The following table details the cash dividends declared per common share during the four quarters of 2022 and the comparable periods of 2021:

	2022		2021
First quarter	$	0.36	$	0.35
Second quarter	0.38		0.36
Third quarter	0.38		0.36
Fourth quarter	0.38		0.36
Total dividends declared	$	1.50	$	1.43

Summary of Accumulated Other Comprehensive (Loss) Income

The following table details the change in the components of Peoples’ accumulated other comprehensive (loss) income for the nine months ended September 30, 2022:

(Dollars in thousands)	Unrealized Loss on Securities		Unrecognized Net Pension and Postretirement Costs		Unrealized (Loss) Gain on Cash Flow Hedge		Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2021	$	(5,946)	$	(1,881)	$	(3,792)	$	(11,619)
Reclassification adjustments to net income:
Realized gain on sale of securities, net of tax	(82)		—		—		(82)
Realized gain due to settlement and curtailment, net of tax	—		107		—		107
Other comprehensive (loss) income, net of reclassifications and tax	(132,025)		249		8,447		(123,329)
Balance, September 30, 2022	$	(138,053)	$	(1,525)	$	4,655	$	(134,923)