Deposits

3 Months Ended

Mar. 31, 2023

Banking and Thrift, Other Disclosure [Abstract]

Deposits

Deposits

Peoples’ deposit balances were comprised of the following:

(Dollars in thousands)	March 31, 2023		December 31, 2022
Retail CDs:
$100 or more	$	331,912	$	263,341
Less than $100	290,179		266,895
Retail CDs	622,091		530,236
Interest-bearing deposit accounts	1,085,169		1,160,182
Savings accounts	1,024,638		1,068,547
Money market deposit accounts	579,106		617,029
Governmental deposit accounts	649,303		625,965
Brokered CDs	273,156		125,580
Total interest-bearing deposits	4,233,463		4,127,539
Non-interest-bearing deposits	$	1,555,064	1,589,402
Total deposits	$	5,788,527	$	5,716,941

Uninsured deposits were $1.7 billion and $1.6 billion at March 31, 2023 and December 31, 2022, respectively. Uninsured amounts are estimated based on the portion of the respective customer account balances that met or exceeded the FDIC limit of $250,000. Peoples pledges investment securities against certain governmental deposit accounts, which covered over $698.9 million of the uninsured deposit balances at March 31, 2023.

Uninsured time deposits are broken out below by time remaining until maturity.

(Dollars in thousands)	March 31, 2023		December 31, 2022
3 months or less	$	16,476	$	19,282
Over 3 to 6 months	18,190		14,871
Over 6 to 12 months	32,554		14,383
Over 12 months	64,405		52,216
Total	$	131,625	$	100,752

The contractual maturities of CDs for each of the next five years, including the remainder of 2023, and thereafter are as follows:

(Dollars in thousands)	Retail		Brokered		Total
Remaining nine months ending December 31, 2023	$	270,212	$	273,156	$	543,368
Year ending December 31, 2024	271,410		—		271,410
Year ending December 31, 2025	31,984		—		31,984
Year ending December 31, 2026	19,269		—		19,269
Year ending December 31, 2027	26,482		—		26,482
Thereafter	2,734		—		2,734
Total CDs	$	622,091	$	273,156	$	895,247

At March 31, 2023, Peoples had thirteen effective interest rate swaps, with an aggregate notional value of $125.0 million, of which $125.0 million were funded by brokered CDs. Brokered CDs used to fund interest rate swaps are expected to be extended every 90 days through the maturity dates of the swaps. Additional information regarding Peoples' interest rate swaps can be found in "Note 10 Derivative Financial Instruments."