Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Shares Activity

The following summarizes the changes to Peoples’ outstanding restricted common shares for the year ended December 31, 2023:

	Time-Based Vesting			Performance-Based Vesting
	Number of Common Shares	Weighted-Average Grant Date Fair Value		Number of Common Shares	Weighted-Average Grant Date Fair Value
Outstanding at January 1	138,522	$	27.25	295,565	$	32.20
Awarded	71,276	26.40		188,372	30.30
Released	(60,420)	22.26		(70,458)	32.91
Forfeited	(6,959)	30.52		(9,509)	31.11
Outstanding at December 31	142,419	$	28.78	403,970	$	31.21

Schedule of Stock-Based Compensation and Related Tax Benefit

The following summarizes the amount of stock-based compensation and related tax benefit recognized for the years ended December 31:

(Dollars in thousands)	2023		2022		2021
Employee stock-based compensation expense:
Restricted common share grant expense	$	5,337	$	3,707	$	3,436
Employee stock purchase plan expense	140		112		79
Total employee stock-based compensation expense	5,477		3,819		3,515
Non-employee director stock-based compensation expense	548		506		375
Total stock-based compensation expense	6,025		4,325		3,890
Recognized tax benefit	(1,402)		(1,007)		(867)
Net expense recognized	$	4,623	$	3,318	$	3,023