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Leases (Tables)
 6 Months Ended
Jun. 30, 2023
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, 2023June 30, 2022June 30, 2023June 30, 2022
Interest and fees on leases (a)$10,275 $10,541 $19,918 $16,643 
Lease income1,719 431 2,796 1,206 
Total lease income$11,994 $10,972 $22,714 $17,849 
(a)Included in "Interest and fees on loans and leases" in 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 fees and costs" on the Unaudited Consolidated Balance Sheets:
(Dollars in thousands)June 30, 2023December 31, 2022
Lease payments receivable, at amortized cost$411,627 $367,681 
Estimated residual values36,465 35,045 
Initial direct costs5,246 4,233 
Deferred revenue(75,547)(61,828)
Net investment in leases377,791 345,131 
Allowance for credit losses - leases(10,377)(8,495)
Net investment in leases, after allowance for credit losses$367,414 $336,636 
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, 2023$50,716 
Year ending December 31, 202492,833 
Year ending December 31, 2025106,500 
Year ending December 31, 202675,794 
Year ending December 31, 202751,144 
Thereafter34,640 
Lease payments receivable, at amortized cost$411,627 
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, 2023June 30, 2022June 30, 2023June 30, 2022
Operating lease expense$766 $660 1,461 1,263 
Short-term lease expense322 179 417 347 
Total lease expense$1,088 $839 $1,878 $1,610 
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, 2023December 31, 2022
ROU assets:
Other assets$14,689 $6,825 
Lease liabilities:
     Accrued expenses and other liabilities$15,412 $7,551 
Other information:
     Weighted-average remaining lease term9.5 years8.8 years
     Weighted-average discount rate3.19 %2.70 %
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, 2023$1,714 
Year ending December 31, 20242,480 
Year ending December 31, 20251,873 
Year ending December 31, 20261,626 
Year ending December 31, 20271,472 
Thereafter6,507 
Total undiscounted lease payments$15,672 
Imputed interest$(260)
Total lease liabilities$15,412