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Leases (Tables)
 9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Summary of Sales Type Lease Income
The table below details Peoples' lease income:
 Three Months EndedNine Months Ended
(Dollars in thousands)September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Interest and fees on leases (a)$9,628 $4,810 $26,271 $9,025 
Other non-interest income1,725 471 2,931 716 
Total lease income$11,353 $5,281 $29,202 $9,741 
(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)September 30, 2022
Lease payments receivable, at amortized cost$331,572 
Estimated residual values34,566 
Initial direct costs3,084 
Deferred revenue(56,375)
Net investment in leases312,847 
Allowance for credit losses - leases(7,890)
Net investment in leases, after allowance for credit losses$304,957 
Summary of Sales Type Lease Maturity
The following table summarizes the contractual maturities of leases:
(Dollars in thousands)Balance
Remaining three months ending December 31, 2022$19,853 
Year ending December 31, 202376,972 
Year ending December 31, 202477,615 
Year ending December 31, 202577,524 
Year ending December 31, 202648,855 
Thereafter30,753 
Lease payments receivable, at amortized cost$331,572 
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 EndedNine Months Ended
(Dollars in thousands)September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Operating lease expense$630 $358 1,893 1,038 
Short-term lease expense208 72 555 244 
Total lease expense$838 $430 $2,448 $1,282 
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)September 30, 2022December 31, 2021
ROU assets:
Other assets$7,975 $7,911 
Lease liabilities:
     Accrued expenses and other liabilities$8,257 $8,674 
Other information:
     Weighted-average remaining lease term9.0 years9.5 years
     Weighted-average discount rate2.72 %2.36 %
Summary of Operating Lease Maturities
The following table summarizes the maturity of remaining lease liabilities:
(Dollars in thousands)Balance
Remaining three months ending December 31, 2022$834 
Year ending December 31, 20232,066 
Year ending December 31, 20241,291 
Year ending December 31, 2025833 
Year ending December 31, 2026674 
Thereafter3,554 
Total undiscounted lease payments$9,252 
Imputed interest$(995)
Total lease liabilities$8,257