Revenue

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

The following table details Peoples' revenue from contracts with customers for the year ended December 31:

(Dollars in thousands)	2022		2021
Insurance income:
Commission and fees from sale of insurance policies (a)	$	13,960	$	12,819
Fees related to third-party administration services (a)	343		389
Performance-based commissions (b)	1,424		2,044
Trust and investment income:
Fiduciary income (a)	10,048		10,490
Brokerage income (a)	6,343		5,966
Electronic banking income:
Interchange income (a)	16,674		14,254
Promotional and usage income (a)	4,420		3,756
Deposit account service charges:
Ongoing maintenance fees for deposit accounts (a)	5,323		3,807
Transactional-based fees (b)	9,260		6,336
Commercial loan swap fees (b)	662		543
Other non-interest income transactional-based fees (b)	1,499		968
Total	$	69,956	$	61,372
Timing of revenue recognition:
Services transferred over time	$	57,111	$	51,481
Services transferred at a point in time	12,845		9,891
Total	$	69,956	$	61,372

(a) Services transferred over time.

(b) Services transferred at a point in time.

Peoples records contract assets for income that has been recognized over a period of time for the fulfillment of performance obligations, but has not yet been received, related to electronic banking income. This income typically relates to bonuses for which Peoples is eligible, but will not receive until a certain time in the future. Peoples records contract liabilities for payments received for commission income related to the sale of insurance policies, for which the performance obligations have not yet been fulfilled. The contract liabilities are recognized as income over time, during the period in which the performance obligations are fulfilled, which is over the insurance policy period. Peoples also records contract liabilities for bonuses received related to electronic banking income, for which income is recognized during the period in which the performance obligations are fulfilled. The following table details the changes in Peoples' contract assets and contract liabilities for the year ended December 31, 2022:

(Dollars in thousands)	Contract Assets		Contract Liabilities
Balance, January 1, 2022	$	743	$	4,811
Additional income receivable	551		—
Additional deferred income	—		939
Recognition of income previously deferred	—		(116)
Balance, December 31, 2022	$	1,294	$	5,634

For more information on Peoples' revenue recognition policies, see "Note 1 Summary of Significant Accounting Policies."