Peoples Bancorp (PEBO) 10-K 27 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Feb. 22, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	000-16772
Entity Registrant Name	PEOPLES BANCORP INC.
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	31-0987416
Entity Address, Address Line One	138 Putnam Street, P.O. Box 738,
Entity Address, City or Town	Marietta,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45750-0738
City Area Code	(740)
Local Phone Number	373-3155
Title of 12(b) Security	Common shares, without par value
Trading Symbol	PEBO
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 720,401
Entity Common Stock, Shares Outstanding		28,471,767
Documents Incorporated by Reference	Document Incorporated by Reference: Portions of Registrant's definitive Proxy Statement relating to the Annual Meeting of Shareholders to be held on April 27, 2023 (the "2023 Annual Meeting of Shareholders"), are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0000318300
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Charleston, West Virginia

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Cash and cash equivalents:
Cash and due from banks		$ 94,679	$ 74,354
Interest-bearing deposits in other banks		59,343	341,373
Total cash and cash equivalents		154,022	415,727
Available-for-sale investment securities, at fair value (amortized cost of $1,300,719 at December 31, 2022 and $1,283,146 at December 31, 2021)	[1]	1,131,399	1,275,493
Held-to-maturity investment securities, at amortized cost (fair value of $479,896 at December 31, 2022 and $369,955 at December 31, 2021)	[1]	560,212	374,129
Other investment securities		51,609	33,987
Total investment securities	[1]	1,743,220	1,683,609
Loans and leases, net of deferred fees and cost	[2]	4,707,150	4,481,600
Allowance for credit losses		(53,162)	(63,967)
Net loans		4,653,988	4,417,633
Loans held for sale		2,140	3,791
Bank premises and equipment, net of accumulated depreciation		82,934	89,260
Bank owned life insurance		105,292	73,358
Goodwill		292,397	264,193
Other intangible assets		33,932	26,816
Other assets		139,379	89,134
Total assets		7,207,304	7,063,521
Deposits:
Non-interest-bearing		1,589,402	1,641,422
Interest-bearing		4,127,539	4,221,130
Total deposits		5,716,941	5,862,552
Short-term borrowings		500,138	166,482
Long-term borrowings		101,093	99,475
Accrued expenses and other liabilities		103,804	89,987
Total liabilities		6,421,976	6,218,496
Stockholders’ Equity
Preferred stock, no par value, 50,000 shares authorized and no shares issued at December 31, 2022 and December 31, 2021		0	0
Common stock, no par value, 50,000,000 shares authorized, 29,857,920 shares issued at December 31, 2022 and 29,814,401 shares issued at December 31, 2021, including shares held in treasury		686,450	686,282
Retained earnings		265,936	207,076
Accumulated other comprehensive loss, net of deferred income taxes		(127,136)	(11,619)
Treasury stock, at cost, 1,643,461 shares at December 31, 2022 and 1,577,359 shares at December 31, 2021		(39,922)	(36,714)
Total stockholders’ equity		785,328	845,025
Total liabilities and stockholders’ equity		$ 7,207,304	$ 7,063,521
[1]Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $241, respectively, as of December 31, 2022 and $0 and $286, respectively, at December 31, 2021.[2]Also referred to throughout this Form 10-K as "total loans" and "loans held for investment."

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Debt securities, available-for-sale, amortized cost	$ 1,300,719,000	$ 1,283,146,000
Debt securities, held-to-maturity, fair value	$ 478,509,000	$ 369,955,000
Preferred stock, no par value (in usd per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	50,000	50,000
Preferred stock, shares issued (in shares)	0	0
Common stock, no par value (in usd per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	29,857,920	29,814,401
Treasury stock, shares (in shares)	1,643,461	1,577,359
Debt securities available for sale, allowance for credit loss	$ 0	$ 0
Debt securities held to maturity, allowance for credit loss	$ 241,000	$ 286,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest income:
Interest and fees on loans		$ 234,765	$ 166,081	$ 140,090
Interest and dividends on taxable investment securities		28,903	15,033	14,188
Interest on tax-exempt investment securities		4,176	3,362	2,484
Other interest income		1,710	313	342
Total interest income		269,554	184,789	157,104
Interest expense:
Interest on deposits		9,171	9,922	13,500
Interest on short-term borrowings		2,661	541	2,571
Interest on long-term borrowings		4,280	1,773	2,110
Total interest expense		16,112	12,236	18,181
Net interest income		253,442	172,553	138,923
(Recovery of) provision for credit losses	[1]	(3,510)	731	26,254
Net interest income after provision for credit losses		256,952	171,822	112,669
Non-interest income:
Insurance income		15,727	15,252	14,042
Lease income		4,267	1,293	0
Bank owned life insurance income		2,624	1,767	1,977
Mortgage banking income		1,397	3,439	6,499
Net (loss) gain on asset disposals and other transactions		(616)	493	(290)
Net loss on investment securities		(61)	(862)	(368)
Other non-interest income	[2]	3,430	2,894	4,486
Total non-interest income		78,836	68,885	63,672
Non-interest expense:
Salaries and employee benefit costs		112,690	94,612	76,361
Net occupancy and equipment expense		19,516	14,918	12,808
Data processing and software expense		14,241	10,542	7,441
Professional fees		12,094	15,783	6,912
Electronic banking expense		9,231	8,885	7,777
Amortization of other intangible assets		7,763	4,775	3,223
Marketing expense		3,728	3,658	2,101
FDIC insurance expense		3,702	1,976	1,302
Franchise tax expense		3,487	3,357	3,506
Other loan expenses		2,735	2,001	1,584
Communication expense		2,484	1,657	1,134
Other non-interest expense		15,476	21,573	9,546
Total non-interest expense		207,147	183,737	133,695
Income before income taxes		128,641	56,970	42,646
Income tax expense		27,349	9,415	7,879
Net income		$ 101,292	$ 47,555	$ 34,767
Earnings per common share – basic (in usd per share)		$ 3.61	$ 2.17	$ 1.74
Earnings per common share – diluted (in usd per share)		$ 3.60	$ 2.15	$ 1.73
Weighted-average number of common shares outstanding – basic (in shares)		27,908,022	21,816,511	19,721,772
Weighted-average number of common shares outstanding – diluted (in shares)		27,999,602	21,959,883	19,843,806
Electronic banking income
Non-interest income:
Revenue from contract with customer, including assessed tax		$ 21,094	$ 18,010	$ 14,246
Trust and investment income
Non-interest income:
Revenue from contract with customer, including assessed tax		16,391	16,456	13,662
Deposit account service charges
Non-interest income:
Revenue from contract with customer, including assessed tax		$ 14,583	$ 10,143	$ 9,418
[1]The provision for credit losses includes changes related to the allowance for credit losses on loans, held-to-maturity investment securities, and the unfunded commitment liability.[2]Includes realized and unrealized gains on equity investment securities recorded in other non-interest income of $2, $111, and $660 for the years ended December 31, 2022, December 31, 2021, and December 31, 2020, respectively.

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Fair value adjustment on equity investment securities	$ 2	$ 111	$ 660

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 101,292	$ 47,555	$ 34,767
Available-for-sale investment securities:
Gross unrealized holding (loss) gain arising in the period	(161,730)	(26,985)	11,394
Related tax benefit (expense)	37,733	5,777	(2,393)
Reclassification adjustment for net loss included in net income	61	862	368
Related tax expense	(14)	(192)	(77)
Net effect on other comprehensive (loss) income	(123,950)	(20,538)	9,292
Defined benefit plans:
Net gain (loss) arising during the period	76	2,318	(1,072)
Related tax (expense) benefit	(18)	(518)	225
Amortization of unrecognized loss on service benefit plans	63	103	127
Related tax benefit	(15)	(23)	(27)
Reclassification from accumulated other comprehensive income ("AOCI")	185	143	1,054
Related tax benefit	(43)	(32)	(221)
Net effect on other comprehensive income	248	1,991	86
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net gains (losses) arising during the period	10,606	6,999	(8,376)
Related tax (expense) benefit	(2,421)	(1,407)	1,759
Net effect on other comprehensive income (loss)	8,185	5,592	(6,617)
Total other comprehensive (loss) income, net of tax	(115,517)	(12,955)	2,761
Total comprehensive (loss) income	$ (14,225)	$ 34,600	$ 37,528

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Impact of adoption of new accounting standard, net of taxes	[1]	Common Stock	Retained Earnings	Retained Earnings Impact of adoption of new accounting standard, net of taxes	[1]	Accumulated Other Comprehensive (Loss) Income	Treasury Stock
Balance at beginning of period at Dec. 31, 2019	$ 594,393	$ (3,709)		$ 420,876	$ 187,149	$ (3,709)		$ (1,425)	$ (12,207)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	34,767				34,767
Other comprehensive income (loss), net of tax	2,761							2,761
Cash dividends declared	(27,516)				(27,516)
Reissuance of treasury stock for common share awards	0			(2,729)					2,729
Reissuance of treasury stock for deferred compensation plan for Boards of Directors	59								59
Repurchase of treasury stock in connection with employee incentive plan and under compensation plan for Boards of Directors	(1,128)								(1,128)
Common shares repurchased under share repurchase program	(29,281)								(29,281)
Common shares issued under dividend reinvestment plan	799			799
Common shares issued under compensation plan for Boards of Directors	377			17					360
Common shares issued under performance unit awards, net of tax	179			41					138
Stock-based compensation	3,556			3,556
Common shares issued under employee stock purchase plan	416			(24)					440
Balance at end of period at Dec. 31, 2020	575,673			422,536	190,691			1,336	(38,890)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,555				47,555
Other comprehensive income (loss), net of tax	(12,955)							(12,955)
Cash dividends declared	(31,170)				(31,170)
Reissuance of treasury stock for common share awards	0			(2,740)					2,740
Reissuance of treasury stock for deferred compensation plan for Boards of Directors	74								74
Repurchase of treasury stock in connection with employee incentive plan and under compensation plan for Boards of Directors	(1,306)								(1,306)
Common shares issued under dividend reinvestment plan	910			910
Common shares issued under compensation plan for Boards of Directors	374			98					276
Stock-based compensation	3,436			3,436
Common shares issued under employee stock purchase plan	535			143					392
Issuance of common shares related to the Premier Merger	261,899			261,899
Balance at end of period at Dec. 31, 2021	845,025			686,282	207,076			(11,619)	(36,714)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	101,292				101,292
Other comprehensive income (loss), net of tax	(115,517)							(115,517)
Cash dividends declared	(42,432)				(42,432)
Reissuance of treasury stock for common share awards	0			(4,989)					4,989
Reissuance of treasury stock for deferred compensation plan for Boards of Directors	78								78
Repurchase of treasury stock in connection with employee incentive plan and under compensation plan for Boards of Directors	(1,745)								(1,745)
Common shares repurchased under share repurchase program	(7,407)								(7,407)
Common shares issued under dividend reinvestment plan	1,272			1,272
Common shares issued under compensation plan for Boards of Directors	506			83					423
Stock-based compensation	3,707			3,707
Common shares issued under employee stock purchase plan	549			95					454
Balance at end of period at Dec. 31, 2022	$ 785,328			$ 686,450	$ 265,936			$ (127,136)	$ (39,922)
[1]On January 1, 2020, Peoples adopted ASU 2016-13, which resulted in a reduction to retained earnings of $3.7 million, net of statutory federal corporate income tax.

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parentheticals) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Reduction in retained earnings		$ (785,328)	$ (845,025)	$ (575,673)		$ (594,393)
Retained Earnings
Reduction in retained earnings		$ (265,936)	$ (207,076)	$ (190,691)		(187,149)
Cumulative Effect, Period of Adoption, Adjustment
Reduction in retained earnings	[1]					3,709
Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
Reduction in retained earnings					$ 3,700	$ 3,709	[1]
[1]On January 1, 2020, Peoples adopted ASU 2016-13, which resulted in a reduction to retained earnings of $3.7 million, net of statutory federal corporate income tax.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Net income	$ 101,292	$ 47,555	$ 34,767
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net	17,319	24,643	25,639
(Recovery of) provision for credit losses	(3,510)	731	26,254
Bank owned life insurance income	(2,624)	(1,767)	(1,977)
Net loss on investment securities	61	862	368
Fair value adjustment on equity investment securities	(2)	(111)	(660)
Loans originated for sale	(48,081)	(94,154)	(260,974)
Proceeds from sales of loans	50,442	157,349	268,363
Net gains on sales of loans	(994)	(2,994)	(6,446)
Deferred income tax expense (benefit)	18,566	2,874	(8,101)
(Decrease) increase in accrued expenses	(4,692)	2,433	799
(Increase) decrease in interest receivable	(5,836)	1,435	(865)
Increase in other assets	1,629	2,874	1,006
Change in lease right-of-use assets and lease liabilities	(38)	509	48
Other, net	(3,693)	14,181	7,262
Net cash provided by operating activities	119,839	156,420	85,483
Available-for-sale investment securities:
Purchases	(246,155)	(852,542)	(261,395)
Proceeds from sales	28,663	544,096	82,610
Proceeds from principal payments, calls and prepayments	190,143	297,693	356,854
Held-to-maturity investment securities:
Purchases	(206,768)	(316,346)	(40,112)
Proceeds from principal payments	19,033	7,333	5,123
Other investment securities:
Purchases	(23,632)	(1,415)	(6,261)
Proceeds from sales	5,784	9,299	12,180
Net (increase) decrease in loans held for investment	(58,142)	113,467	(444,128)
Net expenditures for premises and equipment	(6,753)	(6,685)	(4,299)
Proceeds from sales of other real estate owned	572	2,073	269
Investment in bank owned life insurance	(30,000)	0	0
Proceeds from bank owned life insurance	689	0	108
Business acquisitions, net of cash received	(85,791)	132,719	(94,856)
Investment in limited partnership and tax credit funds	(1,857)	(4,125)	(12)
Net cash used in investing activities	(414,214)	(74,433)	(393,919)
Financing activities:
Net (decrease) increase in non-interest-bearing deposits	(52,020)	150,986	326,115
Net (decrease) increase in interest-bearing deposits	(93,082)	49,774	292,822
Net increase (decrease) in short-term borrowings	328,611	14,414	(263,716)
Proceeds from long-term borrowings	24,804	0	50,000
Payments on long-term borrowings	(125,345)	(2,132)	(2,715)
Cash dividends paid	(42,372)	(31,002)	(27,052)
Repurchase of treasury stock under share repurchase program	(7,407)	0	(29,281)
Purchase of treasury stock in connection with employee incentive program and compensation plan for Boards of Directors to be held as treasury stock	(1,745)	(1,306)	(1,128)
Proceeds from issuance of common shares	1,226	906	594
Contingent consideration payments made after a business acquisition	0	0	(296)
Net cash provided by financing activities	32,670	181,640	345,343
Net (decrease) increase in cash and cash equivalents	(261,705)	263,627	36,907
Cash and cash equivalents at beginning of period	415,727	152,100	115,193
Cash and cash equivalents at end of period	154,022	415,727	152,100
Supplemental cash flow information:
Interest paid	16,270	13,391	18,939
Income taxes paid	4,131	6,693	12,500
Supplemental noncash disclosures:
Transfers from loans to other real estate owned	110	298	296
Noncash recognition of new leases	$ 880	$ 2,482	$ 62

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The accounting and reporting policies of Peoples Bancorp Inc. and subsidiaries ("Peoples" refers to Peoples Bancorp Inc. and its consolidated subsidiaries collectively, except where the context indicates the reference relates solely to Peoples Bancorp Inc.) conform to US GAAP and to general practices within the banking industry. The preparation of the financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed in the preparation of the financial statements: Business Combinations: Business combinations are accounted for using the acquisition method of accounting. Under this accounting method, the acquired company's net assets are recorded at fair value on the date of acquisition, and the results of operations of the acquired company are combined with those of Peoples from the acquisition date forward. Costs related to the acquisition are expensed as incurred. The purchase price paid over the fair value of the net assets acquired, including intangible assets with finite lives, is recorded as goodwill. Consolidation: Peoples' Consolidated Financial Statements include subsidiaries in which Peoples has a controlling financial interest, principally defined as owning a voting interest of greater than 50%. The Consolidated Financial Statements include the accounts of Peoples and its consolidated subsidiaries, Peoples Bank (along with its wholly-owned subsidiaries), Peoples Investment Company, Peoples Risk Management, Inc., NB&T Statutory Trust III, and FNB Capital Trust One, for which Peoples holds all of the common securities. All intercompany accounts and transactions have been eliminated. Fair Value Measurements: The measurement of fair value under US GAAP uses a hierarchy intended to maximize the use of observable inputs and minimize the use of unobservable inputs. This hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: Level 1: Quoted prices in active exchange markets for identical assets or liabilities; also includes certain U.S. Treasury and other U.S. government and agency securities actively traded in over-the-counter markets. Level 2: Observable inputs other than Level 1 including quoted prices for similar assets or liabilities, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data; also includes derivative financial instruments whose value is determined using a pricing model with observable market inputs or can be derived principally from, or corroborated by, observable market data. This category generally includes certain U.S. government and agency securities, corporate debt securities, derivative instruments, and residential mortgage loans held for sale. Level 3: Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as financial instruments for which the determination of fair value requires significant management judgment or estimation; also includes observable inputs for single dealer nonbinding quotes not corroborated by observable market data. This category generally includes certain private equity investments, retained interests from securitizations, and certain collateralized debt obligations. Operating Segments: Peoples' business activities are currently confined to one reportable operating segment, which is community banking. As a community banking entity, Peoples offers its customers a full range of products including a complete line of banking, leasing, insurance, investment and trust solutions. Cash and Cash Equivalents: Cash and cash equivalents include cash on hand, balances due from other banks, interest-bearing deposits in other banks, federal funds sold and other short-term investments with original maturities of ninety days or less. Peoples had no restricted funds at December 31, 2022 or December 31, 2021 held in interest-bearing deposits in other banks, which were being used as collateral and not available for withdrawal. During 2021, Peoples began collateralizing its hedging relationships with investment securities in lieu of cash and cash equivalents held in other banks. Investment Securities: Investment securities are recorded initially at cost, which includes premiums and discounts if purchased at other than par or face value. Peoples amortizes premiums and accretes discounts as an adjustment to interest income on a level yield basis. The cost of investment securities sold, excluding equity investment securities, and any resulting gain or loss, is based on the specific identification method and recognized as of the trade date. The cost of equity investment securities is based on the weighted-average method. Peoples determines the appropriate classification of investment securities at the time of purchase. Held-to-maturity securities are those securities that Peoples has the positive intent and ability to hold to maturity and are recorded at amortized cost. Available-for-sale securities are those securities that would be available to be sold in the future in response to Peoples' liquidity needs, changes in market interest rates, and asset-liability management strategies, among other considerations. Available-for-sale securities are reported at fair value, with unrealized gains and losses reported in total stockholders' equity as a separate component of AOCI, net of applicable deferred income taxes. Certain restricted equity investment securities that do not have readily determinable fair values and for which Peoples does not exercise significant influence, are carried at cost. These cost method securities are reported in "Other investment securities" on the Consolidated Balance Sheets and consist primarily of shares of the Federal Home Loan Bank of Cincinnati (the "FHLB") and the Federal Reserve Bank of Cleveland (the "FRB"). Peoples evaluates available-for-sale investment securities on a quarterly basis to determine how much, if any, allowance for credit losses is required. Peoples reviews available-for-sale investment securities at an unrealized loss position, with potential exposure to a credit event (which excludes U.S. government and U.S. government sponsored agency securities) to determine if the unrealized loss was credit-related. An allowance for credit losses is recorded to the extent that the unrealized loss was credit-related and likely to be permanent. Peoples evaluates held-to-maturity investment securities on a quarterly basis in determining an allowance for credit losses. Peoples has determined that the loss given default for U.S. government sponsored enterprise investment securities is zero, due to the fact that it is unlikely the ultimate guarantor (the U.S. government) would not perform on its implicit guarantee in the event of default. The remaining securities are included in the calculation of the allowance for credit losses for held-to-maturity investment securities. Loans and Leases: Loans originated by Peoples that Peoples has the positive intent and ability to hold for the foreseeable future or to maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees and costs, purchase premiums and discounts, charge-offs and an allowance for credit losses. Leases originated by Peoples are reported at the net investment of the lease, net of initial direct costs, charge-offs and an allowance for credit losses. Throughout this Form 10-K, loans and leases are referred to as "total loans" and "loans held for investment". The foreseeable future is based upon current market conditions and business strategies, as well as balance sheet management and liquidity. As the conditions change, so may management's view of the foreseeable future. Peoples considers loans and leases past due if any required principal and interest payments have not been received as of the date such payments were required to be made under the terms of the loan or lease agreement. Upon detection of the reduced ability of a borrower or lessee to meet cash flow obligations, consumer and residential real estate loans and leases are typically charged down to the net realizable value, with the residual balance placed on nonaccrual status. Loans and leases deemed to be uncollectable are charged against the allowance for credit losses, while recoveries of previously charged off amounts are credited to the allowance for credit losses. Loans and leases acquired in a business combination that have evidence of more than insignificant credit deterioration, which includes loans and leases that Peoples believes it is probable that Peoples will be unable to collect all contractually required payments, are considered PCD loans or leases. These loans are recorded at the purchase price, and an allowance for credit losses is determined using the same methodology as for other loans or leases. The initial allowance for credit losses determined on a collective basis is allocated to individual loans or leases. The total of the purchase price and allowance for credit losses is the net amount expected to be collected for PCD loans or leases. The variance between the initial amortized cost basis and the par value of the loan is considered an interest premium or discount, which is amortized or accreted into interest income on a level yield method over the life of the loan. The variance between the initial amortized cost basis and the fair value of a lease is considered an interest premium or discount, which is amortized or accreted into interest income on a level yield method over the life of the lease. Loans and leases acquired in a business combination that are not considered PCD are recorded at fair value and the difference between the acquisition date fair value and the contractual amounts due at the acquisition date represents the discount or premium to each loan's or lease's cost basis and is accreted or amortized to interest income over the loan's or lease's remaining life using the level yield method. At the acquisition date, Peoples records provision for credit losses to establish the allowance for credit losses for these acquired loans and leases. Loans Held for Sale: Loans originated by Peoples and intended to be sold in the secondary market, generally one-to-four family residential loans, are carried at the lower of cost or estimated fair value determined on an aggregate basis. Gains and losses on sales of loans held for sale are included in mortgage banking income. Loans originated by Peoples with the intent to be held in the portfolio are subsequently transferred to held for sale when a decision is made to sell these loans. At the time of a loan's transfer to the held for sale classification, the loan is recorded at the lower of cost or its fair value. Any reduction in the loan's fair value is reflected as a write-down of the recorded investment resulting in a new cost basis, with a corresponding charge against the allowance for credit losses. If the fair value of a loan classified as held for sale in subsequent periods is less than its cost basis, the carrying value of the loan is adjusted accordingly, with the corresponding loss recognized in income. Allowance for Credit Losses: The allowance for credit losses includes both the allowance for credit losses for loans and leases and the allowance for credit losses on lending-related commitments. The allowance for credit losses is a valuation reserve established through the provision for credit losses charged against income. The allowance for credit losses is estimated by management using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a pool basis, with loans collectively evaluated when similar risk characteristics exist. Peoples evaluated risk characteristics, including but not limited to: internal or third-party credit scores or credit ratings, risk ratings or classifications, financial asset type, collateral type, size, effective interest rate, term, geographical location, industry of the borrower, vintage, historical or credit loss patterns and reasonable and supportable forecast periods. Peoples identified 19 segments for which it believes there are similar risk characteristics and utilized a discounted cash flow methodology in determining an allowance for credit losses for each segment. Peoples' estimates the allowance for credit losses using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. In management's estimation of expected credit losses, Peoples' uses a one year reasonable and supportable period across all segments. In estimating credit losses, Peoples uses a loss driver method, which analyzes one or more economic variables to the change in default rate using a regression analysis. Variables that had a strong correlation were selected as economic factors, or variables, for the model. If a single variable was not found to be strongly correlated, additional variables were included. Peoples utilizes the U.S. unemployment, Ohio unemployment, and Ohio Gross Domestic Product as economic factors in modeling. Probabilities of default are used in the loss driver model, and are analyzed on a quarterly basis to assess reasonableness. Peoples measured loss given default at the segment level due to statistical considerations using historical information. Peoples also utilized peer data due to somewhat volatile loss history in certain segments to normalize default curves, which provided more meaningful results. Peoples modeled amortizing loans with a prepayment rate annualized to one year. The prepayment rates were calculated using Peoples' historical data, at the segment level. Peoples models extensions of contractual terms in the following situations: when a loan is 60 days or more past due, when a partial charge-off has occurred, if the loan is in nonaccrual status, if a troubled debt restructuring ("TDR") has occurred, or if the loan is grade 5 or higher. When any of these criteria are met and the loan matures within the next 12 months, the loan will be modeled to extend for an additional 12 months. In general, Peoples completes a quarterly evaluation based on several qualitative factors to determine if there should be adjustments made to the allowance for credit losses. These factors include economic conditions, collateral, concentrations, troubled assets, Peoples' loss trends, peer loss trends, delinquency trends, portfolio composition and loan growth, underwriting, and certain other risks. The allowance for credit losses related to specific loans was based on management's estimate of potential losses on impaired loans as determined by (1) the present value of expected future cash flows, (2) the fair value of collateral if the loan is determined to be collateral dependent, or (3) the loan's observable market price. Peoples categorized loans involving commercial borrowers into risk categories based upon an established grading matrix. This system was used to manage the risk within Peoples' commercial lending activities, evaluate changes in the overall credit quality of the loan portfolio and evaluate the appropriateness of the allowance for credit losses. Loan grades are assigned at the time a new loan or lending commitment is extended by Peoples and may be changed at any time when circumstances warrant. Commercial loans to borrowers with an aggregate unpaid principal balance in excess of $1.0 million are reviewed at least on an annual basis for possible credit deterioration. Commercial leases, as well as loan relationships whose aggregate credit exposure to Peoples is equal to or less than $1.0 million are reviewed at least on an event driven basis. Triggers for review include knowledge of adverse events affecting the borrower's business, receipt of financial statements indicating deteriorating credit quality or other similar events. Adversely classified loans are reviewed on a quarterly basis. The primary factors considered when assigning a risk grade to a loan include (1) reliability and sustainability of the primary source of repayment, (2) past, present and projected financial condition of the borrower, and (3) current economic and industry conditions. Other factors that could influence the risk grade assigned include the type and quality of collateral and the strength of any guarantors. The primary source of repayment for commercial real estate loans and commercial and industrial loans is normally the operating cash flow of the business available to repay debt. Management's analysis of operating cash flow for commercial real estate loans secured by non-owner occupied properties takes into account factors such as rent rolls and vacancy statistics. Management's analysis of operating cash flow for commercial real estate loans secured by owner occupied properties and all commercial and industrial loans considers the profitability, liquidity and leverage of the business. The evaluation of construction loans includes consideration of the borrower's ability to complete construction within the established budget. The primary factors considered when classifying residential real estate loans, home equity lines of credit and consumer loans include the loan's past due status and any declaration of bankruptcy by the borrower(s). The classification of residential real estate loans and home equity lines of credit also takes into consideration the current value of the underlying collateral. Peoples has elected the practical expedient not to measure allowance for credit losses for accrued interest receivables. Unfunded Commitments: Peoples also completes a quarterly evaluation for unfunded commitments for loans that are not unconditionally cancellable, which includes construction loans, floor plan lines of credit, home equity lines of credit, other credit lines and letters of credit. Peoples performed a study to determine the historical funding rates of unadvanced portions of loans, and applied these funding rates to the unfunded commitments at period end. The loss rates, including qualitative factors, in determining the allowance for credit losses were applied at the segment level to the unfunded commitment amount to determine the allowance for credit loss liability for unfunded commitments. Troubled Debt Restructuring ("TDR"): The restructuring of a loan is considered a TDR if both (1) the borrower is experiencing financial difficulties and (2) the creditor has granted a concession. Loans acquired that are restructured after acquisition are not considered TDRs if the loans evidenced credit deterioration as of the acquisition date and are accounted for in pools of PCD loans. In assessing whether or not a borrower is experiencing financial difficulties, Peoples considers information currently available regarding the financial condition of the borrower. This information includes, but is not limited to, whether (1) the borrower is currently in payment default on any of the borrower's debt; (2) a payment default is probable in the foreseeable future without the modification; (3) the borrower has declared or is in the process of declaring bankruptcy; and (4) the borrower's projected cash flow is insufficient to satisfy contractual payments due under the original terms of the loan without a modification. Peoples considers all aspects of the modification to loan terms to determine whether or not a concession has been granted to the borrower. Key factors considered by Peoples include the borrower's ability to access funds at a market rate for loans with similar risk characteristics, the significance of the modification relative to the unpaid principal loan balance or collateral value underlying the loan, and the significance of a delay in the timing of payments relative to the original contractual terms of the loan. The most common concessions granted by Peoples generally include one or more modifications to the terms of the loan, such as (1) a reduction in the interest rate for the remaining life of the loan, (2) an extension of the maturity date at an interest rate lower than the current market rate for a new loan with similar risk, (3) a temporary period of interest-only payments, and (4) a reduction in the contractual payment amount for either a short period or the remaining term of the loan. All TDRs are evaluated individually to determine if a write-down is required and if they should be on accrual or nonaccrual status. On March 22, 2020, federal and state banking regulators issued a joint statement, with which the FASB concurred as to the approach, regarding accounting for loan modifications for borrowers affected by COVID-19, based on provisions included in the CARES Act. In this guidance, short-term modifications, made on a good faith basis in response to COVID-19, to borrowers who were current prior to any relief, are not considered TDRs. This includes short-term modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment which are insignificant. Under the guidance, borrowers that are considered current are those that were less than 30 days past due on their contractual payments at the time a modification program was implemented. In addition, modification or deferral programs mandated by the U.S. federal government or any state government related to COVID-19 are not in the scope of accounting for TDRs defined in ASC 310-40. Based on this guidance, Peoples does not classify COVID-19 loan modifications as TDRs. On August 3, 2020, federal and state banking regulators issued a joint statement, encouraging financial institutions to consider prudent accommodation options to mitigate losses for the borrower and financial institution beyond the initial accommodation period. Under this guidance, institutions should also provide consumers with available options for repaying missed payments at the end of their accommodation to avoid delinquencies, as well as options for changes to terms to support sustainable and affordable payments for the long term. These considerations should also include prudent risk management practices at the financial institution based on the credit risk of the borrower. Peoples is actively working with its affected customers to address any further accommodation needs while carefully evaluating the associated credit risk of the borrowers. Nonaccrual Loans: Peoples discontinues the accrual of interest on a loan when conditions cause management to believe collection of all or any portion of the loan's contractual interest is doubtful. Such conditions may include the borrower being 90 days or more past due on any contractual payments, or current information regarding the borrower's financial condition and repayment ability. All unpaid accrued interest deemed uncollectable is reversed, which reduces Peoples' net interest income. Interest received on nonaccrual loans is included in income only if principal recovery is reasonably assured. Under the CARES Act, which was subsequently extended under legislation enacted in December 2020, borrowers who were making payments as required and were not considered past due prior to becoming affected by COVID-19 and then received payment accommodations as a result of the effects of COVID-19 generally would not be reported as past due. If Peoples agrees to a payment deferral for a borrower under the CARES Act, this may result in no contractual payments being past due, and the loans are not considered past due during the period of the deferral. Under the CARES Act, during the time that Peoples maintains these short-term arrangements with borrowers, it should not report the loans as nonaccrual. This program expired as of January 1, 2022. Bank Premises and Equipment: Bank premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the related assets owned. Major improvements to leased facilities are capitalized and included in bank premises at cost less accumulated depreciation, which is calculated on the straight-line method over the lesser of the remaining term for the leased facility or the estimated economic life of the improvement. Goodwill and Other Intangible Assets: Goodwill represents the excess of the cost of an acquisition or business combination over the fair value of the net assets acquired in the acquisition or business combination. Goodwill is not amortized but is tested for impairment when indicators of impairment exist, or at least annually on October 1. Peoples' other intangible assets include customer relationship intangible assets, core deposit intangible assets, indefinite-lived trade name and servicing rights representing the net present value of future economic benefits to be earned from acquired customer relationships with definite useful lives. These intangible assets are amortized on an accelerated basis over their estimated lives ranging from 7 to 10 years. Servicing Rights: Servicing rights represent the right to service loans sold to third-party investors. Loans that are sold are primarily mortgage loans, but also include small business and agricultural loans. Servicing rights are recognized separately as a servicing asset whenever Peoples undertakes an obligation to service financial assets. Servicing rights are reported in other intangible assets on the Consolidated Balance Sheets. Serviced loans that have been completely sold are not included on the Consolidated Balance Sheets. Loan servicing income included in mortgage banking income includes servicing fees received from the third-party investors and certain charges collected from the borrowers. Peoples initially records servicing rights at fair value at the time of the sale of the loans to the third-party investor. Peoples follows the amortization method for the subsequent measurement of each class of separately recognized servicing assets and liabilities. Under the amortization method, Peoples amortizes the value of servicing assets or liabilities utilizing a straight-line basis approach over the period of estimated net servicing income or net servicing loss, and assesses servicing assets or liabilities for impairment or increased obligation based on the fair value at each reporting date. The fair value of the servicing rights is determined by using a discounted cash flow model, which estimates the present value of the future net cash flows of the servicing portfolio based on various factors, such as servicing costs, expected prepayment speeds and discount rates. Derivatives: Peoples enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known or expected cash amounts, the value of which is determined by interest rates. Peoples’ derivative financial instruments are used to manage differences in the amount, timing and duration of Peoples' known or expected cash receipts and its known or expected cash payments principally related to certain variable rate borrowings. Peoples also has interest rate derivative financial instruments that result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk in Peoples' assets or liabilities. Peoples manages a matched book with respect to customer-related derivative financial instruments in order to minimize its net risk exposure resulting from such transactions. Amounts reported in AOCI related to derivatives are reclassified to interest income or expense as interest payments are made or received on Peoples' variable-rate assets or liabilities. Peoples assesses the effectiveness of each hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged transaction. If the derivative financial instruments designated as cash flow hedges are deemed effective, changes in the fair value of each derivative financial instrument are reported in AOCI (outside of earnings), net of tax, and subsequently reclassified to earnings when the hedged transaction affects earnings. If the derivative financial instruments designated as cash flow hedges are deemed ineffective, changes in the fair value of the derivative financial instrument are recognized directly in earnings. Interest Rate Lock Commitments: Peoples enters into interest rate lock commitments with borrowers and best efforts commitments with investors on mortgage loans originated for sale into the secondary markets to manage the inherent interest rate and pricing risk associated with selling loans. An interest rate lock commitment generally terminates once the loan is funded, the lock period expires or the borrower decides not to contract for the loan. A best efforts commitment generally terminates once the loan is sold, the commitment period expires or the borrower decides not to contract for the loan. These commitments are considered derivatives. The valuation of such commitments considers the servicing release premium, but does not consider other expected cash flows related to the servicing of the future loan. Management determined these derivatives did not have a material effect on Peoples' financial position, results of operations or cash flows. Investments in Affordable Housing Limited Partnerships: Investments in affordable housing consist of investments in limited partnerships that operate qualified affordable housing projects or that invest in other limited partnerships formed to operate affordable housing projects. These investments are considered variable interest entities for which Peoples is not the primary beneficiary. Peoples generally utilizes the effective yield method to account for these investments with the tax credits, net of the amortization of the investment, reflected in the Consolidated Statements of Income as a reduction in income tax expense. The unamortized amount of the investments is recorded in "Other assets" and totaled $15.1 million and $16.6 million at December 31, 2022 and 2021, respectively. Other Real Estate Owned ("OREO"): OREO, included in "Other assets" on the Consolidated Balance Sheets, is comprised primarily of commercial and residential real estate properties acquired by Peoples in satisfaction of a loan. OREO obtained in satisfaction of a loan is recorded at the lower of cost or estimated fair value, less estimated costs to sell the property. Peoples had OREO totaling $8.9 million at December 31, 2022 and $9.5 million at December 31, 2021. Securities Sold Under Agreements to Repurchase ("Repurchase Agreements"): Peoples enters into Repurchase Agreements with customers and other financial services companies, which are considered financings. As such, these obligations are recorded as a liability on the Consolidated Balance Sheets and disclosed in "Note 9 Short-Term Borrowings" and "Note 10 Long-Term Borrowings," as appropriate. Securities pledged as collateral under Repurchase Agreements are included in investment securities on the Consolidated Balance Sheets and are disclosed in "Note 3 Investment Securities." The fair value of the collateral pledged to a third party is continually monitored and additional collateral is pledged or returned, as deemed appropriate. Interest Income Recognition: Interest income on loans and investment securities is recognized by methods that result in level rates of return on principal amounts outstanding. This includes yield adjustments resulting from the amortization of premiums on investment securities, loan costs and premiums, and accretion of discounts on investment securities, loan fees and discounts. Loans that have been placed on nonaccrual, and are subsequently returned to accruing status, recognize interest income similar to other accruing loans once they return to accruing status. Prior accrued interest that was reversed when the loan was placed on nonaccrual is recognized when received, after all of the principal of the loan outstanding has been paid. Since mortgage-backed securities comprise a sizable portion of Peoples' investment portfolio, a significant increase in principal paymen

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value represents the amount expected to be received to sell an asset or paid to transfer a liability in its principal or most advantageous market in an orderly transaction between market participants at the measurement date. In accordance with fair value accounting guidance, Peoples measures, records and reports various types of assets and liabilities at fair value on either a recurring or a non-recurring basis in the Consolidated Financial Statements. Those assets and liabilities are presented below in the sections entitled "Assets and Liabilities Required to be Measured and Reported at Fair Value on a Recurring Basis" and "Assets and Liabilities Required to be Measured and Reported at Fair Value on a Non-Recurring Basis." Depending on the nature of the asset or liability, Peoples uses various valuation methodologies and assumptions to estimate fair value. The measurement of fair value under US GAAP uses a hierarchy, which is described in "Note 1 Summary of Significant Accounting Policies." Assets and liabilities are assigned to a level within the fair value hierarchy based on the lowest level of significant input used to measure fair value. Assets and liabilities may change levels within the fair value hierarchy due to market conditions or other circumstances. Those transfers are recognized on the date of the event that prompted the transfer. There were no transfers of assets or liabilities required to be measured at fair value on a recurring basis between levels of the fair value hierarchy during the periods presented in the Consolidated Financial Statements. Assets and Liabilities Required to be Measured and Reported at Fair Value on a Recurring Basis The following table provides the fair value for assets and liabilities required to be measured and reported at fair value on a recurring basis on the Consolidated Balance Sheets by level in the fair value hierarchy. At December 31, 2022 and December 31, 2021, there were no assets and liabilities measured on a recurring basis that were considered Level 3 measurements. Recurring Fair Value Measurements at Reporting Date December 31, 2022 December 31, 2021 (Dollars in thousands) Level 1 Level 2 Level 1 Level 2 Assets: Available-for-sale investment securities: Obligations of: U.S. Treasury and government agencies $ 152,422 $ — $ 35,604 $ — U.S. government sponsored agencies — 88,115 — 81,739 States and political subdivisions — 225,882 — 259,319 Residential mortgage-backed securities — 604,653 — 828,517 Commercial mortgage-backed securities — 50,049 — 63,519 Bank-issued trust preferred securities — 10,278 — 6,795 Total available-for-sale securities 152,422 978,977 35,604 1,239,889 Equity investment securities (a) 147 199 160 184 Derivative assets (b) — 34,123 — 12,163 Liabilities: Derivative liabilities (c) $ — $ 28,529 $ — $ 17,183 (a) Included in "Other investment securities" on the Consolidated Balance Sheets. For additional information, see "Note 3 Investment Securities." (b) Included in " Other assets (c) Included in " Accrued expenses and other liabilities Available-for-Sale Investment Securities: The fair values used by Peoples are obtained from an independent pricing service and represent either quoted market prices for the identical securities (Level 1) or fair values determined by pricing models using a market approach that considers observable market data, such as interest rate volatility, SOFR and LIBOR (or other relevant) yield curves, credit spreads and prices from market makers and live trading systems (Level 2). Management reviews the valuation methodology and quality controls utilized by the pricing services in management's overall assessment of the reasonableness of the fair values provided, and challenges prices when management believes a material discrepancy in pricing exists. Equity Investment Securities: The fair values of Peoples' equity investment securities are obtained from q uoted prices in active exchange markets for identical assets or liabilities (Level 1) or quoted prices in less active markets (Level 2). Derivative Assets and Liabilities : Derivative assets and liabilities are recognized on the Consolidated Balance Sheets at their fair value within "Other assets" and "Accrued expenses and other liabilities", respectively. The fair value for derivative financial instruments is determined based on market prices, broker-dealer quotations on similar products, or other related input parameters (Level 2). Assets and Liabilities Required to be Measured and Reported at Fair Value on a Non-Recurring Basis The following table provides the fair value for each class of assets and liabilities required to be measured and reported at fair value on a non-recurring basis on the Consolidated Balance Sheets by level in the fair value hierarchy. At December 31, 2022 and December 31, 2021, there were no assets and liabilities measured on a non-recurring basis that were considered Level 1 measurements. Non-Recurring Fair Value Measurements at Reporting Date December 31, 2022 December 31, 2021 (Dollars in thousands) Level 2 Level 3 Level 2 Level 3 Collateral dependent loans $ — $ 10,354 $ — $ 430 Loans held for sale (a) 1,254 — 418 — Other real estate owned ("OREO") — 55 — 87 Servicing rights (b)(c) $ — $ — — $ 22 (a) Loans held for sale are presented gross of a valuation allowance of $105 and $0 at December 31, 2022 and December 31, 2021, respectively. (b) Included in "Other intangible assets" on the Consolidated Balance Sheets. Servicing rights are carried at the lower of cost or estimated market value. (c) Peoples established a valuation allowance on servicing rights of $1 at December 31, 2022 and $12 at December 31, 2021. The fair value of the servicing rights on 10-year fixed rate loans was less than the carrying value. Collateral Dependent Loans: Loans for which repayment is dependent upon the operation or sale of collateral, as the borrower is experiencing financial difficulty, are considered collateral dependent. Peoples utilizes outside third-party appraisal services to value the underlying collateral, for which Peoples uses to report the loans at their fair value (Level 3). Loans Held for Sale: Loans originated and intended to be sold in the secondary market, generally one-to-four family residential loans, are carried, in aggregate, at the lower of cost or estimated fair value. Peoples uses a valuation model using quoted market prices of similar instruments in arriving at the fair value (Level 2). Other Real Estate Owned: OREO, included in "Other assets" on the Consolidated Balance Sheets, is comprised primarily of commercial and residential real estate properties acquired by Peoples in satisfaction of a loan. OREO obtained in satisfaction of a loan is recorded at the lower of cost or estimated fair value, less estimated costs to sell the property. The carrying value of OREO is not re-measured to fair value on a recurring basis, but is based on recent real estate appraisals and is updated at least annually. These appraisals may utilize a single valuation approach or a combination of approaches including the comparable sales approach and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available (Level 3). Servicing Rights : Servicing rights are included in "Other intangible assets" on the Consolidated Balance Sheets. The fair value of servicing rights is determined by using a discounted cash flow model, which estimates the present value of the future net cash flows of the servicing portfolio based on various factors, such as servicing costs, expected prepayment speeds and discount rates (Level 3). The carrying value of servicing rights is not re-measured to fair value on a recurring basis. Peoples assesses the carrying value of servicing rights quarterly for impairment. Financial Instruments Not Required to be Measured and Reported at Fair Value The following table provides the carrying amount for each class of assets and liabilities, and the fair value for certain financial instruments that are not required to be measured or reported at fair value on the Consolidated Balance Sheets. Fair Value Measurements of Other Financial Instruments (Dollars in thousands) Fair Value Hierarchy Level December 31, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents 1 $ 154,022 $ 154,022 $ 415,727 $ 415,727 Held-to-maturity investment securities: Obligations of: U.S. government sponsored agencies 2 132,366 123,020 36,431 35,513 States and political subdivisions (a) 2 145,263 108,776 151,688 150,138 Residential mortgage-backed securities 2 176,215 157,998 110,708 110,159 Commercial mortgage-backed securities 2 101,861 85,354 75,588 74,145 Commercial mortgage-backed securities 3 4,748 3,361 — — Total held-to-maturity securities 560,453 478,509 374,415 369,955 Other investment securities: Other investment securities at cost: Federal Home Loan Bank ("FHLB") stock N/A 26,605 26,605 17,308 17,308 Federal Reserve Bank ("FRB") stock N/A 21,231 21,231 13,311 13,311 Total other investment securities at cost 47,836 47,836 30,619 30,619 Other investment securities at fair value: Nonqualified deferred compensation (b) 1 2,048 2,048 2,240 2,240 Other investment securities (c) 2 1,379 1,379 784 784 Total other investment securities at fair value 51,263 51,263 33,643 33,643 Loans and leases, net of deferred fees and cost (d) 3 4,707,150 4,516,695 4,481,600 4,510,605 Bank owned life insurance 2 105,292 105,292 73,358 73,358 Financial liabilities: Deposits 2 $ 5,716,941 $ 4,682,491 $ 5,862,552 $ 5,546,552 Short-term borrowings 2 500,138 504,584 166,482 164,990 Long-term borrowings 2 101,093 101,992 99,475 101,664 (a) Held-to-maturity investment securities are presented gross of an allowance for credit losses of $241 and $286, at December 31, 2022 and December 31, 2021, respectively. (b) Nonqualified deferred compensation includes underlying investments in mutual funds. (c) "Other investment securities", as reported on the Consolidated Balance Sheets, also included equity investment securities at December 31, 2022 and at December 31, 2021, which are reported in the Assets and Liabilities Required to be Measured and Reported at Fair Value on a Recurring Basis table above and not included in this table. (d) Loans and leases, net of deferred fees and cost are presented gross of an allowance for credit losses of $53.2 million and $64.0 million, as of December 31, 2022 and December 31, 2021, respectively. For certain financial assets and liabilities, carrying value approximates fair value due to the nature of the financial instrument. These financial instruments include cash and cash equivalents, demand and other non-fixed-maturity deposits, and overnight borrowings. Peoples used the following methods and assumptions in estimating the fair value of the following financial instruments: Cash and Cash Equivalents: Cash and cash equivalents include cash on hand, balances due from other banks, interest-bearing deposits in other banks, federal funds sold and other short-term investments with original maturities of ninety days or less. The carrying amount for cash on hand and balances due from banks is a reasonable estimate of fair value (Level 1). Held-to-Maturity Investment Securities: The fair values used by Peoples are obtained from an independent pricing service and represent fair values determined by pricing models using a market approach that considers observable market data, such as interest rate volatility, relevant yield curves, credit spreads and prices from market makers and live trading systems (Level 2). When observable market data is absent, the independent pricing service estimates prices based on underlying cash flow characteristics and discount rates and compare to similar securities (Level 3). Management reviews the valuation methodology and quality controls utilized by the pricing services in management's overall assessment of the reasonableness of the fair values provided, and challenges prices when management believes a material discrepancy in pricing exists. Other Investment Securities: Other investment securities at cost are not recorded at fair value as they are not marketable securities. Other investment securities at fair value are valued using quoted prices in an active market (Level 1) or quoted prices in less active markets (Level 2). Loans and Leases, Net of Deferred Fees and Costs: The fair value of portfolio loans and leases assumes sale of the underlying notes to a third-party financial investor. Accordingly, this value is not necessarily the value to Peoples if the notes were held to maturity. Peoples considered interest rate, credit and market factors in estimating the fair value of loans and leases (Level 3). Fair values for loans and leases are estimated using a discounted cash flow methodology. The discount rates take into account interest rates currently being offered to customers for loans and leases with similar terms, the credit risk associated with the loans and leases and other market factors, including liquidity. Bank Owned Life Insurance: Peoples' bank owned life insurance policies are recorded at their cash surrender value (Level 2). Peoples recognizes tax-exempt income from the periodic increases in the cash surrender value of these policies and from death benefits. Deposits: The fair value of fixed-maturity certificates of deposit ("CDs") is estimated using a discounted cash flow calculation based on current rates offered for deposits of similar remaining maturities (Level 2). Demand and other non-fixed-maturity deposits are estimated using a discounted cash flow calculation based on maturity, attrition and re-pricing assumptions. Short-term Borrowings: The fair value of short-term borrowings is estimated using a discounted cash flow analysis based on rates currently available to Peoples for borrowings with similar terms (Level 2). Long-term Borrowings: The fair value of long-term borrowings is estimated using a discounted cash flow analysis based on rates currently available to Peoples for borrowings with similar terms (Level 2). Certain financial assets and financial liabilities that are not required to be measured or reported at fair value can be subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). These financial assets and liabilities include the following: customer relationships, the deposit base, and other information required to compute Peoples’ aggregate fair value, which are not included in the above information. Accordingly, the above fair values are not intended to represent the aggregate fair value of Peoples.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities Available-for-sale The following table summarizes Peoples’ available-for-sale investment securities at December 31: (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2022 Obligations of: U.S. Treasury and government agencies $ 158,473 $ — $ (6,051) $ 152,422 U.S. government sponsored agencies 101,753 18 (13,656) 88,115 States and political subdivisions 261,612 12 (35,742) 225,882 Residential mortgage-backed securities 707,025 1,017 (103,389) 604,653 Commercial mortgage-backed securities 61,091 — (11,042) 50,049 Bank-issued trust preferred securities 10,765 57 (544) 10,278 Total available-for-sale securities $ 1,300,719 $ 1,104 $ (170,424) $ 1,131,399 2021 Obligations of: U.S. Treasury and government agencies $ 35,609 $ 12 $ (17) $ 35,604 U.S. government sponsored agencies 83,019 58 (1,338) 81,739 States and political subdivisions 259,508 3,187 (3,376) 259,319 Residential mortgage-backed securities 833,328 6,565 (11,376) 828,517 Commercial mortgage-backed securities 64,971 42 (1,494) 63,519 Bank-issued trust preferred securities 6,711 215 (131) 6,795 Total available-for-sale securities $ 1,283,146 $ 10,079 $ (17,732) $ 1,275,493 The unrealized losses related to residential mortgage-backed securities at December 31, 2022 and 2021 were attributable to changes in market interest rates and spreads since the securities were purchased. The gross gains and gross losses realized by Peoples from sales of available-for-sale securities for the years ended December 31 were as follows: (Dollars in thousands) 2022 2021 2020 Gross gains realized $ 314 $ 1,184 $ 655 Gross losses realized 375 2,046 1,023 Net (loss) gain realized $ (61) $ (862) $ (368) The cost of investment securities sold, and any resulting gain or loss, were based on the specific identification method and recognized as of the trade date. The following table presents a summary of available-for-sale investment securities that had an unrealized loss at December 31: Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Loss No. of Securities Fair Value Unrealized Loss No. of Securities Fair Value Unrealized Loss 2022 Obligations of: U.S. Treasury and government agencies $ 112,730 $ 2,772 13 $ 39,692 $ 3,279 11 $ 152,422 $ 6,051 U.S. government sponsored agencies 15,166 249 17 66,706 13,407 18 81,872 13,656 States and political subdivisions 60,324 714 114 156,900 35,028 117 217,224 35,742 Residential mortgage-backed securities 104,959 8,087 105 488,452 95,302 139 593,411 103,389 Commercial mortgage-backed securities 1,874 129 2 48,175 10,913 21 50,049 11,042 Bank-issued trust preferred securities 4,400 100 3 3,556 444 2 7,956 544 Total $ 299,453 $ 12,051 254 $ 803,481 $ 158,373 308 $ 1,102,934 $ 170,424 2021 Obligations of: U.S. Treasury and government agencies $ 16,914 $ 17 6 $ — $ — — $ 16,914 $ 17 U.S. government sponsored agencies 72,406 1,192 13 4,854 146 1 77,260 1,338 States and political subdivisions 101,397 2,075 71 30,853 1,301 11 132,250 $ 3,376 Residential mortgage-backed securities 573,139 9,051 113 51,103 2,325 14 624,242 11,376 Commercial mortgage-backed securities 60,134 1,494 21 — — — 60,134 1,494 Bank-issued trust preferred securities 2,991 9 1 878 122 1 3,869 131 Total $ 826,981 $ 13,838 225 $ 87,688 $ 3,894 27 $ 914,669 $ 17,732 Management evaluates available-for-sale investment securities for an allowance of credit losses on a quarterly basis. At December 31, 2022, management concluded that no individual securities at an unrealized loss position required an allowance for credit losses. At December 31, 2022, Peoples did not have the intent to sell, nor was it more-likely-than-not that Peoples would be required to sell, any of the securities with an unrealized loss prior to recovery. Further, the unrealized losses at both December 31, 2022 and 2021 were largely attributable to changes in market interest rates and spreads since the securities were purchased. Accrued interest receivable is not included in investment securities balances, and is presented in the "Other assets" line of the Consolidated Balance Sheets, with no recorded allowance for credit losses. Interest receivable on investment securities was $7.8 million at December 31, 2022 and $5.5 million at December 31, 2021. At December 31, 2022, approximately 99% of the mortgage-backed securities with a market value that had been at an unrealized loss position for twelve months or more were issued by U.S. government sponsored agencies. The remaining 1%, or four positions, consisted of privately issued mortgage-backed securities with all of the underlying mortgages originated prior to 2004. Of the four positions, three positions had a fair value of less than 90% of their respective book value. Management analyzed the underlying credit quality of these mortgage-backed securities and concluded the unrealized losses were primarily attributable to the floating rate nature of these investments and the low number of loans underlying these securities. The unrealized losses with respect to the two bank-issued trust preferred securities that had been in an unrealized loss position for twelve months or more at December 31, 2022 were primarily attributable to the subordinated nature of the debt. The table below presents the amortized cost, fair value and total weighted-average yield of available-for-sale securities by contractual maturity at December 31, 2022. The weighted-average yields are based on the amortized cost and are computed on a fully taxable-equivalent basis using a blended federal and state corporate income tax rate of 23.3%. In some cases, the issuers may have the right to call or prepay obligations without call or prepayment penalties prior to the contractual maturity date. (Dollars in thousands) Within 1 Year 1 to 5 Years 5 to 10 Years Over 10 Years Total Amortized cost Obligations of: U.S. Treasury and government agencies $ 53,010 $ 105,463 $ — $ — $ 158,473 U.S. government sponsored agencies 7,028 41,440 45,016 8,269 101,753 States and political subdivisions 27,434 48,406 69,824 115,948 261,612 Residential mortgage-backed securities 18 1,595 57,748 647,664 707,025 Commercial mortgage-backed securities 1,090 4,089 30,901 25,011 61,091 Bank-issued trust preferred securities — 4,265 6,500 — 10,765 Total available-for-sale securities $ 88,580 $ 205,258 $ 209,989 $ 796,892 $ 1,300,719 Fair value Obligations of: U.S. Treasury and government agencies $ 51,957 $ 100,465 $ — $ — $ 152,422 U.S. government sponsored agencies 6,933 37,643 37,513 6,026 88,115 States and political subdivisions 27,312 46,152 58,275 94,143 225,882 Residential mortgage-backed securities 18 1,524 52,232 550,879 604,653 Commercial mortgage-backed securities 1,080 3,751 25,520 19,698 50,049 Bank-issued trust preferred securities — 4,313 5,965 — 10,278 Total available-for-sale securities $ 87,300 $ 193,848 $ 179,505 $ 670,746 $ 1,131,399 Total weighted-average yield 2.32 % 2.07 % 1.71 % 1.82 % 1.88 % Held-to-Maturity The following table summarizes Peoples’ held-to-maturity investment securities at December 31: (Dollars in thousands) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value 2022 Obligations of: U.S. government sponsored agencies $ 132,366 $ — $ 130 $ (9,476) $ 123,020 States and political subdivisions 145,263 (241) 162 (36,408) 108,776 Residential mortgage-backed securities 176,215 — 244 (18,461) 157,998 Commercial mortgage-backed securities 106,609 — — (17,894) 88,715 Total held-to-maturity securities $ 560,453 $ (241) $ 536 $ (82,239) $ 478,509 2021 Obligations of: U.S. government sponsored agencies $ 36,431 $ — $ 86 $ (1,004) $ 35,513 States and political subdivisions 151,688 (286) 1,006 (2,270) 150,138 Residential mortgage-backed securities 110,708 — 370 (919) 110,159 Commercial mortgage-backed securities 75,588 — 182 (1,625) 74,145 Total held-to-maturity securities $ 374,415 $ (286) $ 1,644 $ (5,818) $ 369,955 There were no sales of held-to-maturity securities during the years ended December 31, 2022 and December 31, 2021. Management evaluates held-to-maturity investment securities for an allowance for credit losses on a quarterly basis. The majority of Peoples' held-to-maturity investment securities are residential mortgage-backed securities. Peoples analyzed these securities using cumulative default rate averages for investment grade municipal securities. The following table presents a summary of held-to-maturity investment securities that had an unrealized loss at December 31: Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Loss No. of Securities Fair Value Unrealized Loss No. of Securities Fair Value Unrealized Loss 2022 Obligations of: U.S. government sponsored agencies $ 59,905 $ 651 17 $ 29,306 $ 8,825 9 $ 89,211 $ 9,476 States and political subdivisions 3,590 1,072 3 101,863 35,336 64 105,453 36,408 Residential mortgage-backed securities 71,582 2,904 21 72,862 15,557 18 144,444 18,461 Commercial mortgage-backed securities 26,869 650 8 61,846 17,244 29 88,715 17,894 Total $ 161,946 $ 5,277 49 $ 265,877 $ 76,962 120 $ 427,823 $ 82,239 2021 Obligations of: U.S. government sponsored agencies $ 17,328 $ 504 6 $ 14,635 $ 500 2 $ 31,963 $ 1,004 States and political subdivisions 61,954 1,041 34 27,328 1,229 6 89,282 2,270 Residential mortgage-backed securities 88,937 919 17 — — — 88,937 919 Commercial mortgage-backed securities 67,338 1,625 21 — — — 67,338 1,625 Total $ 235,557 $ 4,089 78 $ 41,963 $ 1,729 8 $ 277,520 $ 5,818 The table below presents the amortized cost, fair value and total weighted-average yield of held-to-maturity securities by contractual maturity at December 31, 2022. The weighted-average yields are based on the amortized cost and are computed on a fully taxable-equivalent basis using a blended federal and state corporate income tax rate of 23.3%. In some cases, the issuers may have the right to call or prepay obligations without call or prepayment penalties prior to the contractual maturity date. (Dollars in thousands) Within 1 Year 1 to 5 Years 5 to 10 Years Over 10 Years Total Amortized cost Obligations of: U.S. government sponsored agencies $ 2,125 $ 20,012 $ 48,883 $ 61,346 $ 132,366 States and political subdivisions — 5,211 9,407 130,645 145,263 Residential mortgage-backed securities — 1,036 — 175,179 176,215 Commercial mortgage-backed securities — 12,026 31,438 63,145 106,609 Total held-to-maturity securities $ 2,125 $ 38,285 $ 89,728 $ 430,315 $ 560,453 Fair value Obligations of: U.S. government sponsored agencies $ 2,093 $ 19,194 $ 48,320 $ 53,413 $ 123,020 States and political subdivisions — 4,857 7,809 96,110 108,776 Residential mortgage-backed securities — 1,006 — 156,992 157,998 Commercial mortgage-backed securities — 11,126 27,832 49,757 88,715 Total held-to-maturity securities $ 2,093 $ 36,183 $ 83,961 $ 356,272 $ 478,509 Total weighted-average yield 0.98 % 1.97 % 4.17 % 3.02 % 3.12 % Other Investment Securities Peoples' "Other investment securities" on the Consolidated Balance Sheets consist largely of shares of FHLB and FRB stock, and other equity investment securities. The following table summarizes the carrying value of Peoples' other investment securities at December 31: (Dollars in thousands) 2022 2021 FHLB stock $ 26,605 $ 17,308 FRB stock 21,231 13,311 Nonqualified deferred compensation 2,048 2,240 Equity investment securities 346 344 Other investment securities 1,379 784 Total other investment securities $ 51,609 $ 33,987 Peoples redeemed $2.6 million and $8.2 million of FHLB stock in 2022 and 2021, respectively, in order to be in compliance with the requirements of the FHLB. Peoples purchased $11.9 million and $3.8 million of additional FHLB stock during 2022 and 2021, respectively, as a result of the FHLB's capital requirements on FHLB advances during the year. During the year ended December 31, 2022, Peoples purchased $7.9 million of FRB stock as requested by the FRB as a result of the Premier Merger on September 17, 2021. During 2022, Peoples recorded the change in the fair value of equity investment securities held at December 31, 2022 in "Other non-interest income", resulting in an unrealized gain of $2,000. During 2021, Peoples recorded the change in the fair value of equity investment securities held at December 31, 2021 in "Other non-interest income", resulting in unrealized gain of $111,000. At December 31, 2022, Peoples' investment in equity investment securities was comprised largely of common stocks issued by various unrelated bank holding companies. There were no equity investment securities of a single issuer that exceeded 10% of Peoples' stockholders' equity. Pledged Securities At December 31, 2022 and 2021, Peoples had pledged available-for-sale investment securities and held-to-maturity investment securities to secure public and trust department deposits, and repurchase agreements in accordance with federal and state requirements. Peoples also pledged available-for-sale investment securities and held-to-maturity investment securities to secure additional borrowing capacity at the FHLB and the FRB as well as to derivative counterparties as collateral on unrealized interest rate swaps. The following table summarizes the carrying value of Peoples' pledged investment securities as of December 31: Carrying Amount (Dollars in thousands) 2022 2021 Securing public and trust department deposits, and repurchase agreements: Available-for-sale $ 779,244 $ 795,496 Held-to-maturity 312,921 160,643 Securing collateral for cash flow hedge swaps: Available-for-sale — 18,208 Held-to-maturity — 9,936 Securing additional borrowing capacity at the FHLB and the FRB: Available-for-sale 3,972 6,504 Held-to-maturity 128,870 549

Loans and Leases

Loans and Leases	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Loans and Leases	Loans and Leases Peoples' loan portfolio consists of various types of loans and leases originated primarily as a result of lending opportunities within Peoples' footprint. Peoples also originates insurance premium finance loans nationwide through its Peoples Premium Finance division, and originates leases nationwide through its North Star Leasing division and its Vantage Financial, LLC ("Vantage") subsidiary. The major classifications of loan balances (in each case, net of deferred fees and costs) excluding loans held for sale, were as follows at December 31: (Dollars in thousands) 2022 2021 Construction $ 246,941 $ 210,232 Commercial real estate, other 1,423,518 1,550,081 Commercial and industrial 892,634 891,392 Premium finance 159,197 136,136 Leases 345,131 122,508 Residential real estate 723,360 771,718 Home equity lines of credit 177,858 163,593 Consumer, indirect 629,426 530,532 Consumer, direct 108,363 104,652 Deposit account overdrafts 722 756 Total loans, at amortized cost $ 4,707,150 $ 4,481,600 Net deferred loan origination costs were $20.5 million and $13.5 million at December 31, 2022 and 2021, respectively. On March 7, 2022, Peoples completed the acquisition of Vantage, which included $154.9 million of leases, of which $3.4 million were considered PCD. Effective after the close of business on September 17, 2021, Peoples completed the Premier Merger, which included $1.1 billion in net loans, of which $147.9 million were considered PCD loans. Effective after the close of business on March 31, 2021, Peoples acquired $83.3 million in leases from NSL, of which $5.2 million were considered PCD leases. Refer to "Note 20 Acquisitions" for more detail on the leases acquired from Vantage, the loans acquired in the Premier Merger, and the leases acquired from NSL. Peoples began participating as a SBA PPP lender during the second quarter of 2020, and originated $488.9 million of PPP loans during 2020 and $159.1 million during 2021. At December 31, 2022, the PPP loans had an amortized cost of $2.4 million, and were included in commercial and industrial loan balances. Peoples recorded deferred loan origination fees related to the PPP loans, net of deferred loan origination costs, which totaled $27,000 at December 31, 2022. During 2022 and 2021, Peoples recorded accretion of net deferred loan origination fees of $2.2 million and $13.0 million, respectively, on PPP loans. The remaining net deferred loan origination fees will be accreted over the life of the respective loans, or until forgiven by the SBA, and will be recognized in net interest income. The PPP expired on May 31, 2021 and no new originations were made under the program; however, forgiveness proceeds will continue to be received until the loans are paid in full. Accrued interest receivable is not included within the loan balances, but is presented in the “Other assets” line of the Consolidated Balance Sheets, with no recorded allowance for credit losses as Peoples elected the practical expedient not to measure allowance for credit losses for accrued interest receivables. Interest receivable on loans was $15.4 million at December 31, 2022 and $12.0 million at December 31, 2021. Nonaccrual and Past Due Loans A loan is considered past due if any required principal and interest payments have not been received as of the date such payments were required to be made under the terms of the loan agreement. A loan may be placed on nonaccrual status regardless of whether or not such loan is considered past due. The amortized cost of loans on nonaccrual status and loans delinquent for 90 days or more and accruing were as follows at December 31: 2022 2021 (Dollars in thousands) Nonaccrual (a) Accruing Loans 90+ Days Past Due Nonaccrual (a) Accruing Loans 90+ Days Past Due Construction $ 12 $ — $ 6 $ 90 Commercial real estate, other 12,121 167 17,067 689 Commercial and industrial 3,462 130 3,572 1,139 Premium finance — 504 — 865 Leases 3,178 3,041 1,581 — Residential real estate 9,496 917 9,647 805 Home equity lines of credit 820 58 1,039 50 Consumer, indirect 2,176 — 1,574 — Consumer, direct 208 25 279 85 Total loans, at amortized cost $ 31,473 $ 4,842 $ 34,765 $ 3,723 (a) There were $1.4 million of nonaccrual loans for which there was no allowance for credit losses at December 31, 2022 and $2.6 million of such loans at December 31, 2021. The amount of interest income recognized on loans past due 90 days or more during 2022 and 2021 was $1.7 million and $1.3 million, respectively. The following tables present the aging of the recorded investment in past due loans at December 31: Loans Past Due Current Total (Dollars in thousands) 30 – 59 days 60 – 89 days 90 + Days Total 2022 Construction $ 196 $ 161 $ 9 $ 366 $ 246,575 $ 246,941 Commercial real estate, other 2,279 1,051 10,370 13,700 1,409,818 1,423,518 Commercial and industrial 2,522 289 3,449 6,260 886,374 892,634 Premium finance 646 816 504 1,966 157,231 159,197 Leases 6,074 1,921 6,218 14,213 330,918 345,131 Residential real estate 10,113 2,128 5,519 17,760 705,600 723,360 Home equity lines of credit 987 149 552 1,688 176,170 177,858 Consumer, indirect 5,866 1,048 921 7,835 621,591 629,426 Consumer, direct 703 70 108 881 107,482 108,363 Deposit account overdrafts — — — — 722 722 Total loans, at amortized cost $ 29,386 $ 7,633 $ 27,650 $ 64,669 $ 4,642,481 $ 4,707,150 2021 Construction $ 658 $ — $ 90 $ 748 $ 209,484 $ 210,232 Commercial real estate, other 2,891 1,600 12,561 17,052 1,533,029 1,550,081 Commercial and industrial 1,132 1,278 3,595 6,005 885,387 891,392 Premium finance 751 266 865 1,882 134,254 136,136 Leases 426 247 1,581 2,254 120,254 122,508 Residential real estate 8,276 2,241 5,188 15,705 756,013 771,718 Home equity lines of credit 1,137 619 625 2,381 161,212 163,593 Consumer, indirect 4,220 895 615 5,730 524,802 530,532 Consumer, direct 457 135 200 792 103,860 104,652 Deposit account overdrafts — — — — 756 756 Total loans, at amortized cost $ 19,948 $ 7,281 $ 25,320 $ 52,549 $ 4,429,051 $ 4,481,600 Delinquency trends remained stable as 98.6% of Peoples' portfolio was considered "current" at December 31, 2022, compared to 98.8% at December 31, 2021. Pledged Loans Peoples has pledged certain loans secured by one-to-four family and multifamily residential mortgages, commercial real estate and home equity lines of credit under a blanket collateral agreement to secure borrowings from the FHLB. Peoples also has pledged commercial loans to secure borrowings with the FRB. Loans pledged at December 31 are summarized in the following table: (Dollars in thousands) 2022 2021 Loans pledged to FHLB $ 783,843 $ 769,863 Loans pledged to FRB 339,005 294,728 During 2021, Peoples pledged additional collateral to the FHLB and FRB to secure potential funding needs in light of the COVID-19 pandemic, as well as to fund the PPP loan originations that occurred during 2021 and 2020. Related Party Loans In the normal course of its business, Peoples Bank has granted loans to certain directors and officers of Peoples, including their affiliates, families and entities in which they are principal owners. At December 31, 2022, no related party loan was past due 90 or more days, a TDR or on nonaccrual status. Activity in related party loans is presented in the table below. Other changes primarily consist of changes in related party status, and the addition and exit of directors during the year, as applicable. (Dollars in thousands) Balance, December 31, 2021 $ 28,079 New loans and disbursements 19,938 Repayments (20,579) Other changes (66) Balance, December 31, 2022 $ 27,372 Credit Quality Indicators As discussed in "Note 1 Summary of Significant Accounting Policies," Peoples categorizes the majority of its loans into risk categories based upon an established risk grading matrix using a scale of 1 to 8. Loan grades are assigned at the time a new loan or lending commitment is extended by Peoples and may be changed at any time when circumstances warrant. Commercial loans to borrowers with an aggregate unpaid principal balance in excess of $1.0 million are reviewed at least on an annual basis for possible credit deterioration. Commercial leases, as well as loan relationships whose aggregate credit exposure to Peoples is equal to or less than $1.0 million are reviewed on an event driven basis. Triggers for review include knowledge of adverse events affecting the borrower's business, receipt of financial statements indicating deteriorating credit quality or other similar events. Adversely classified loans are reviewed on a quarterly basis. A description of the general characteristics of the risk grades used by Peoples follows: "Pass" (grades 1 through 4): Loans in this risk category are to borrowers of acceptable-to-strong credit quality and risk who have the apparent ability to satisfy their loan obligations. Loans in this risk category would possess sufficient mitigating factors, such as adequate collateral or strong guarantors possessing the capacity to repay the loans if required, for any weakness that may exist. "Special Mention" (grade 5): Loans in this risk category are the equivalent of the regulatory "Other Assets Especially Mentioned" classification. Loans in this risk category possess some credit deficiency or potential weakness, which requires a high level of management attention. Potential weaknesses include declining trends in operating earnings and cash flows and/or reliance on the secondary source of repayment. If left uncorrected, these potential weaknesses may result in noticeable deterioration of the repayment prospects for the loans or in Peoples' credit position. "Substandard" (grade 6): Loans in this risk category are inadequately protected by the borrower's current financial condition and payment capability, or by the collateral pledged, if any. Loans so classified have one or more well-defined weaknesses that jeopardize the orderly repayment of the loans. They are characterized by the distinct possibility that Peoples will sustain some loss if the deficiencies are not corrected. "Doubtful" (grade 7): Loans in this risk category have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or orderly repayment in full, on the basis of current existing facts, conditions and values, highly questionable and improbable. Possibility of loss is extremely high, but because of certain important and reasonably specific factors that may work to the advantage and strengthening of the exposure, classification of these loans as an estimated loss is deferred until their more exact status may be determined. "Loss" (grade 8): Loans in this risk category are considered to be non-collectible and of such little value that their continuance as bankable assets is not warranted. This does not mean each such loan has absolutely no recovery value, but rather it is neither practical nor desirable to defer writing off the loan, even though partial recovery may be obtained in the future. Charge-offs against the allowance for credit losses are taken in the period in which the loan becomes uncollectable. Consequently, Peoples typically does not maintain a recorded investment in loans within this risk category. Consumer loans and other smaller-balance loans are evaluated and categorized as "substandard," "doubtful" or "loss" based upon the regulatory definition of these classes and consistent with regulatory requirements. All other loans not evaluated individually, nor meeting the regulatory conditions to be categorized as described above, would be considered as being "not rated." The following tables summarize the risk category of Peoples' loan portfolio based upon the then most recent analysis performed at December 31, 2022: Term Loans at Amortized Cost by Origination Year (Dollars in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Revolving Loans Converted to Term Total Loans Construction Pass $ 82,143 $ 110,719 $ 27,893 $ 20,223 $ 656 $ 4,061 $ 44 $ 81 $ 245,739 Special mention — — — — — 818 — — 818 Substandard — 2 — — — 382 — — 384 Total 82,143 110,721 27,893 20,223 656 5,261 44 81 246,941 Commercial real estate, other Pass 165,282 224,727 227,799 202,877 110,564 369,578 27,300 5,217 1,328,127 Special mention — 189 1,099 5,519 3,111 29,334 105 — 39,357 Substandard — 8,327 2,591 1,366 1,296 42,172 216 190 55,968 Doubtful — — — — — 66 — — 66 Total 165,282 233,243 231,489 209,762 114,971 441,150 27,621 5,407 1,423,518 Commercial and industrial Pass 167,937 142,615 72,573 71,497 40,229 91,853 215,116 3,722 801,820 Special mention 10,248 14,981 11,923 2,711 236 4,877 16,235 — 61,211 Substandard 84 9,801 3,417 2,410 1,459 3,620 8,603 611 29,394 Doubtful — — — — — 209 — — 209 Total 178,269 167,397 87,913 76,618 41,924 100,559 239,954 4,333 892,634 Premium finance Pass 158,778 419 — — — — — — 159,197 Total 158,778 419 — — — — — — 159,197 Leases Pass 191,148 90,738 34,627 15,951 3,269 1,119 — — 336,852 Special mention 1,741 2,477 140 22 24 — — — 4,404 Substandard 546 1,840 571 464 454 — — — 3,875 Total 193,435 95,055 35,338 16,437 3,747 1,119 — — 345,131 Residential real estate Pass 78,313 138,860 58,869 42,840 28,174 364,635 — — 711,691 Substandard — — 137 569 563 10,302 — — 11,571 Loss — — — — — 98 — — 98 Total 78,313 138,860 59,006 43,409 28,737 375,035 — — 723,360 Home equity lines of credit Pass 41,781 35,768 19,863 14,820 13,800 50,291 334 2,096 176,657 Substandard — 60 — 53 126 958 — — 1,197 Loss — — — — — 4 — — 4 Total 41,781 35,828 19,863 14,873 13,926 51,253 334 2,096 177,858 Consumer, indirect Pass 305,814 149,445 100,027 35,988 22,789 12,741 — — 626,804 Substandard 384 811 659 266 304 193 — — 2,617 Loss — 5 — — — — — — 5 Total 306,198 150,261 100,686 36,254 23,093 12,934 — — 629,426 Consumer, direct Pass 50,889 28,351 14,558 6,333 3,725 3,975 — — 107,831 Substandard 97 63 138 46 21 150 — — 515 Loss — — — — — 17 — — 17 Total 50,986 28,414 14,696 6,379 3,746 4,142 — — 108,363 Deposit account overdrafts 722 — — — — — — — 722 Total loans, at amortized cost $ 1,255,907 $ 960,198 $ 576,884 $ 423,955 $ 230,800 $ 991,453 $ 267,953 $ 11,917 $ 4,707,150 The following tables summarize the risk category of Peoples' loan portfolio based upon the then most recent analysis performed at December 31, 2021: Term Loans at Amortized Cost by Origination Year (Dollars in thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Total Loans Construction Pass $ 85,276 $ 78,026 $ 29,514 $ 3,498 $ 1,233 $ 2,982 $ 2,411 $ 6,948 $ 202,940 Special mention 290 — — 735 3,850 137 — — 5,012 Substandard — — 947 77 153 1,103 — — 2,280 Total 85,566 78,026 30,461 4,310 5,236 4,222 2,411 6,948 210,232 Commercial real estate, other Pass 253,259 259,113 217,938 143,094 143,975 392,212 21,320 11,940 1,430,911 Special mention 157 2,716 7,875 3,839 6,292 31,626 — 49 52,505 Substandard — 1,675 824 691 3,124 59,415 371 37 66,100 Doubtful — — — — — 542 — — 542 Loss — — — — — 23 — — 23 Total 253,416 263,504 226,637 147,624 153,391 483,818 21,691 12,026 1,550,081 Commercial and industrial Pass 299,117 105,646 84,144 56,361 22,182 100,030 174,848 15,888 842,328 Special mention 82 11,745 2,559 2,179 132 5,445 7,563 9 29,705 Substandard 465 2,059 2,691 812 4,995 3,342 3,085 367 17,449 Doubtful — — — — — 1,648 262 100 1,910 Total 299,664 119,450 89,394 59,352 27,309 110,465 185,758 16,364 891,392 Premium finance Pass 135,896 240 — — — — — — 136,136 Total 135,896 240 — — — — — — 136,136 Leases Pass 78,048 25,954 13,368 2,972 337 — — — 120,679 Special mention 34 29 22 159 4 — — — 248 Substandard 196 438 462 479 6 — — — 1,581 Total 78,278 26,421 13,852 3,610 347 — — — 122,508 Residential real estate Pass 141,845 74,169 53,434 33,690 44,377 407,541 — — 755,056 Substandard — — — — — 16,302 — — 16,302 Loss — — — — — 360 — — 360 Total 141,845 74,169 53,434 33,690 44,377 424,203 — — 771,718 Home equity lines of credit Pass 35,898 23,276 18,035 16,124 14,991 53,302 1,967 3,287 163,593 Total 35,898 23,276 18,035 16,124 14,991 53,302 1,967 3,287 163,593 Consumer, indirect Pass 226,287 163,830 63,353 45,672 21,754 9,636 — — 530,532 Total 226,287 163,830 63,353 45,672 21,754 9,636 — — 530,532 Consumer, direct Pass 47,308 26,792 13,293 8,411 3,218 5,630 — — 104,652 Total 47,308 26,792 13,293 8,411 3,218 5,630 — — 104,652 Deposit account overdrafts 756 — — — — — — — 756 Total loans, at amortized cost $ 1,304,914 $ 775,708 $ 508,459 $ 318,793 $ 270,623 $ 1,091,276 $ 211,827 $ 38,625 $ 4,481,600 Collateral Dependent Loans Peoples has certain loans for which repayment is dependent upon the operation or sale of collateral, as the borrower is experiencing financial difficulty. The underlying collateral can vary based upon the type of loan. The following provides more detail about the types of collateral that secure collateral dependent loans: • Construction loans are typically secured by owner occupied commercial real estate or non-owner occupied investment real estate. Typically, owner occupied construction loans are secured by office buildings, warehouses, manufacturing facilities, and other commercial and industrial properties that are in process of construction. Non-owner occupied commercial construction loans are generally secured by office buildings and complexes, multi-family complexes, land under development, and other commercial and industrial real estate in process of construction. • Commercial real estate loans can be secured by either owner occupied commercial real estate or non-owner occupied investment commercial real estate. Typically, owner occupied commercial real estate loans are secured by office buildings, warehouses, manufacturing facilities and other commercial and industrial properties occupied by operating companies. Non-owner occupied commercial real estate loans are generally secured by office buildings and complexes, retail facilities, multifamily complexes, land under development, industrial properties, as well as other commercial or industrial real estate. • Commercial and industrial loans are general secured by equipment, inventory, accounts receivable, and other commercial property. • Residential real estate loans are typically secured by first mortgages, and in some cases could be secured by a second mortgage. • Home equity lines of credit are generally secured by second mortgages on residential real estate property. • Consumer loans are generally secured by automobiles, motorcycles, recreational vehicles and other personal property. Some consumer loans are unsecured and have no underlying collateral. • Leases are secured by commercial equipment and other essential business assets. • Premium finance loans are secured by the unearned portion of the insurance premium being financed. The following table details Peoples' amortized cost of collateral dependent loans at December 31: (Dollars in thousands) 2022 2021 Construction $ — $ 1,291 Commercial real estate, other 8,362 37,220 Commercial and industrial 1,456 8,340 Residential real estate 536 2,877 Home equity lines of credit — 391 Total collateral dependent loans $ 10,354 $ 50,119 The decrease in collateral dependent loans at December 31, 2022 compared to December 31, 2021, was primarily due to $29.7 million in collateral dependent loans acquired from Premier that were no longer considered collateral dependent at December 31, 2022. The following table summarizes the loans that were modified as TDRs during the years ended December 31, 2022 and 2021. Recorded Investment (a) (Dollars in thousands) Number of Contracts Pre-Modification Post-Modification Remaining Recorded Investment 2022 Commercial real estate, other 8 $ 1,191 $ 1,191 $ 1,179 Commercial and industrial 9 1,513 1,517 971 Residential real estate 34 1,741 1,825 1,789 Home equity lines of credit 8 321 321 313 Consumer, indirect 23 286 285 285 Consumer, direct 9 102 103 103 Consumer 32 388 388 388 Total 91 $ 5,154 $ 5,242 $ 4,640 2021 Construction 1 $ 344 $ 344 $ 344 Commercial real estate, other 7 218 218 217 Commercial and industrial 1 187 188 100 Residential real estate 55 2,513 2,574 2,464 Home equity lines of credit 14 500 500 489 Consumer, indirect 16 207 207 184 Consumer, direct 11 59 60 53 Consumer 27 266 267 237 Total 105 $ 4,028 $ 4,091 $ 3,851 (a) The amounts shown are inclusive of all partial paydowns and charge-offs. Loans modified in a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported. The following table presents those loans modified into a TDR during the year that subsequently defaulted (i.e., 90 days or more past due following a modification during the year). 2022 2021 (Dollars in thousands) Number of Contracts Recorded Investment (a) Impact on the Allowance for Credit Losses Number of Contracts Recorded Investment (a) Impact on the Allowance for Credit Losses Commercial real estate, other 1 $ 65 $ — — $ — $ — Commercial and Industrial 1 43 — — — — Residential real estate 2 64 — 3 156 — Consumer, indirect 1 7 — 1 26 — Consumer, direct 1 2 — — — — Total 6 $ 181 $ — 4 $ 182 $ — (a) The amounts shown are inclusive of all partial paydowns and charge-offs. Loans modified in a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported. Peoples had no commitments to lend additional funds to the related borrowers whose loan terms have been modified in a TDR. Allowance for Credit Losses Changes in the allowance for credit losses for 2022 are summarized below: (Dollars in thousands) Beginning Balance, Initial Allowance for Acquired PCD Assets (a) (Recovery of) Provision for Credit Losses (b) Charge-offs Recoveries Ending Balance, December 31, 2022 Construction $ 2,999 $ — $ (1,733) $ (16) $ — $ 1,250 Commercial real estate, other 29,147 (451) (10,794) (489) 297 17,710 Commercial and industrial 11,063 (418) (1,522) (943) 49 8,229 Premium finance 379 — 76 (124) 13 344 Leases 4,797 801 5,062 (2,585) 420 8,495 Residential real estate 7,233 (509) 217 (668) 84 6,357 Home equity lines of credit 2,005 (11) (258) (88) 45 1,693 Consumer, indirect 5,326 (41) 4,068 (2,233) 328 7,448 Consumer, direct 961 — 930 (363) 47 1,575 Deposit account overdrafts 57 — 1,050 (1,246) 200 61 Total $ 63,967 $ (629) $ (2,904) $ (8,755) $ 1,483 $ 53,162 (a) Includes purchase price adjustments related to acquisitions previously completed but were within the 12-month measurement period. (b) Amount does not include the provision for unfunded commitment liability. Changes in the allowance for credit losses for 2021 are summarized below: (Dollars in thousands) Beginning Balance, Initial Allowance for Acquired PCD Assets (Recovery of) Provision for Credit Losses (a) Charge-offs Recoveries Ending Balance, December 31, 2021 Construction $ 1,887 $ 2,006 $ (894) $ — $ — $ 2,999 Commercial real estate, other 17,536 9,636 2,158 (387) 204 29,147 Commercial and industrial 12,763 4,048 (4,717) (1,057) 26 11,063 Premium finance 1,095 — (671) (45) — 379 Leases — 493 5,399 (1,434) 339 4,797 Residential real estate 6,044 1,206 225 (385) 143 7,233 Home equity lines of credit 1,860 66 235 (197) 41 2,005 Consumer, indirect 8,030 — (1,201) (1,756) 253 5,326 Consumer, direct 1,081 115 (195) (152) 112 961 Deposit account overdrafts 63 — 392 (575) 177 57 Total $ 50,359 $ 17,570 $ 731 $ (5,988) $ 1,295 $ 63,967 (a) Amount does not include the provision for unfunded commitment liability. During 2022, the decline in the allowance balance when compared to 2021 was driven by decreases in the allowances for individually analyzed loans, as well as changes in qualitative factors period-over-period and the use of updated prepayment speeds. Those decreases were partially offset by loan growth and deterioration in the economic forecast. The Vantage acquisition added $0.8 million in allowance for credit losses at the acquisition date for PCD loans as part of the acquisition accounting. During 2022, the allowance established for PCD loans from the Premier Merger was adjusted, decreasing the allowance by $1.4 million. The allowance for credit losses as a percent of total loans declined from 1.43% to 1.13% from December 31, 2021 to December 31, 2022. At December 31, 2022, Peoples had recorded an unfunded commitment liability of $2.0 million, a decrease compared to the $2.5 million that was recorded at December 31, 2021. The allowance for unfunded commitments (also referred to as "unfunded commitment liability") is presented in the “Accrued expenses and other liabilities” line of the Consolidated Balance Sheets. For 2022, Peoples recorded a recovery of credit losses on unfunded commitments of $0.6 million, compared to a recovery for credit losses on unfunded commitments of $360,000 for 2021. The change in the allowance for unfunded commitments is reflected in the "Provision for credit losses" line of the Consolidated Statements of Income.

Bank Premises and Equipment

Bank Premises and Equipment	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Bank Premises and Equipment	Note 5 Bank Premises and Equipment The major categories of bank premises and equipment, net of accumulated depreciation, at December 31 were as follows: (Dollars in thousands) 2022 2021 Land $ 18,746 $ 19,921 Building and premises 101,478 101,234 Furniture, fixtures and equipment 37,913 36,319 Total bank premises and equipment 158,137 157,474 Accumulated depreciation (75,203) (68,214) Net book value $ 82,934 $ 89,260 Peoples depreciates its building and premises, and furniture, fixtures and equipment over estimated useful lives generally ranging from five forty two ten

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases Lessor Arrangements Leases originated by Peoples, that Peoples has the positive intent and ability to hold for the foreseeable future or to maturity or payoff, are reported at the net investment of the lease, net of initial direct costs, charge-offs and an allowance for credit losses. Peoples considers leases past due if any required principal or interest payments have not been received as of the date such payments were required to be made under the terms of the lease agreement. Upon detection of the reduced ability of a lessee to meet cash flow obligations, leases are typically charged down to the net realizable value, with the residual balance placed on nonaccrual status. Leases deemed to be uncollectable are charged against the allowance for credit losses, while recoveries of previously charged-off amounts are credited to the allowance for credit losses. Peoples began originating leases with the acquisition of leases from NSL and increased its portfolio with the acquisition of Vantage. The leases acquired from NSL were determined to be sales-type leases, as the premise for the leases is dollar buy-out, whereby the lessee pays one dollar at maturity of the lease to purchase the equipment. The leases acquired from Vantage were determined to be sales-type leases, as the payment structure and term triggered that accounting treatment, whereby either (i) the lease is structured as a fair market value buyout, whereby the lessee has the option to purchase the leased equipment at its fair market value at maturity of the lease, or (ii) the lessee purchases the leased equipment for one dollar at maturity of the lease. Originated leases continue to be classified as sales-type leases. As a lessor, Peoples originates commercial equipment leases either directly to the customer or indirectly through vendor programs. Equipment leases consist of automotive, construction, healthcare, manufacturing, office, restaurant, and other equipment. These sales-type leases do not typically contain residual value guarantees; however, the risk associated with residuals is mitigated by obtaining security deposits from lessees. Other non-interest income noted in the table below includes gains on the early termination of leases, referral fee income, and other fee income. Lease income also includes gains and losses on residual assets. Additional information regarding Peoples' sales-type leases can be found in "Note 4 Loans and Leases". The table below details Peoples' lease income for the years ended December 31, 2022 and 2021: (Dollars in thousands) 2022 2021 Interest and fees on leases (a) $ 34,720 $ 13,572 Other non-interest income 4,267 1,293 Total lease income $ 38,987 $ 14,865 (a) Included in "Interest and fees on loans" on the Consolidated Statements of Income. For additional The following table summarizes the net investments in sales-type leases, which are included in "Loans and leases, net of deferred costs" on the Consolidated Balance Sheets at December 31: (Dollars in thousands) 2022 2021 Lease payments receivable, at amortized cost $ 367,681 $ 152,202 Estimated residual values 35,045 129 Initial direct costs 4,233 1,427 Deferred revenue (61,828) (31,250) Total leases, at amortized cost 345,131 122,508 Allowance for credit losses - leases (8,495) (4,797) Net investment in sales-type leases $ 336,636 $ 117,711 The following table summarizes the contractual maturities of leases: (Dollars in thousands) Balance 2023 $ 82,543 2024 84,642 2025 92,966 2026 61,351 2027 37,310 Thereafter 8,869 Lease payments receivable, at amortized cost $ 367,681 Lessee Arrangements Peoples leases certain banking facilities and equipment under various agreements with original terms providing for fixed monthly payments over periods generally ranging from two The table below details Peoples' lease expense, which is included in "Net occupancy and equipment expense" in the Consolidated Statements of Income for the years ended December 31: (Dollars in thousands) 2022 2021 Operating lease expense $ 2,568 $ 1,632 Short-term lease expense 745 411 Total lease expense $ 3,313 $ 2,043 Peoples utilizes an incremental borrowing rate to determine the present value of lease payments for each lease, as the lease agreements do not provide an implicit rate. The estimated incremental borrowing rate reflects a secured rate and is based on the term of the lease and the interest rate environment at the lease commencement or remeasurement date. The following table details the ROU asset, the lease liability and other information related to Peoples' operating leases on the Consolidated Balance Sheet at December 31: (Dollars in thousands) 2022 2021 Right-of-use asset: Other assets $ 6,825 $ 7,911 Lease liability: Accrued expenses and other liabilities $ 7,551 $ 8,674 Other information: Weighted-average remaining lease term 8.8 years 9.5 years Weighted-average discount rate 2.70 % 2.36 % Cash paid during the year for operating leases $ 2,560 $ 1,585 Additions for right-of-use assets obtained during the year $ 880 $ 2,482 The following table summarizes the future lease payments of operating leases: (Dollars in thousands) Payments 2023 $ 2,245 2024 1,487 2025 1,002 2026 839 2027 702 Thereafter 3,005 Total undiscounted lease payments $ 9,280 Imputed interest (1,729) Total lease liability $ 7,551
Leases	Leases Lessor Arrangements Leases originated by Peoples, that Peoples has the positive intent and ability to hold for the foreseeable future or to maturity or payoff, are reported at the net investment of the lease, net of initial direct costs, charge-offs and an allowance for credit losses. Peoples considers leases past due if any required principal or interest payments have not been received as of the date such payments were required to be made under the terms of the lease agreement. Upon detection of the reduced ability of a lessee to meet cash flow obligations, leases are typically charged down to the net realizable value, with the residual balance placed on nonaccrual status. Leases deemed to be uncollectable are charged against the allowance for credit losses, while recoveries of previously charged-off amounts are credited to the allowance for credit losses. Peoples began originating leases with the acquisition of leases from NSL and increased its portfolio with the acquisition of Vantage. The leases acquired from NSL were determined to be sales-type leases, as the premise for the leases is dollar buy-out, whereby the lessee pays one dollar at maturity of the lease to purchase the equipment. The leases acquired from Vantage were determined to be sales-type leases, as the payment structure and term triggered that accounting treatment, whereby either (i) the lease is structured as a fair market value buyout, whereby the lessee has the option to purchase the leased equipment at its fair market value at maturity of the lease, or (ii) the lessee purchases the leased equipment for one dollar at maturity of the lease. Originated leases continue to be classified as sales-type leases. As a lessor, Peoples originates commercial equipment leases either directly to the customer or indirectly through vendor programs. Equipment leases consist of automotive, construction, healthcare, manufacturing, office, restaurant, and other equipment. These sales-type leases do not typically contain residual value guarantees; however, the risk associated with residuals is mitigated by obtaining security deposits from lessees. Other non-interest income noted in the table below includes gains on the early termination of leases, referral fee income, and other fee income. Lease income also includes gains and losses on residual assets. Additional information regarding Peoples' sales-type leases can be found in "Note 4 Loans and Leases". The table below details Peoples' lease income for the years ended December 31, 2022 and 2021: (Dollars in thousands) 2022 2021 Interest and fees on leases (a) $ 34,720 $ 13,572 Other non-interest income 4,267 1,293 Total lease income $ 38,987 $ 14,865 (a) Included in "Interest and fees on loans" on the Consolidated Statements of Income. For additional The following table summarizes the net investments in sales-type leases, which are included in "Loans and leases, net of deferred costs" on the Consolidated Balance Sheets at December 31: (Dollars in thousands) 2022 2021 Lease payments receivable, at amortized cost $ 367,681 $ 152,202 Estimated residual values 35,045 129 Initial direct costs 4,233 1,427 Deferred revenue (61,828) (31,250) Total leases, at amortized cost 345,131 122,508 Allowance for credit losses - leases (8,495) (4,797) Net investment in sales-type leases $ 336,636 $ 117,711 The following table summarizes the contractual maturities of leases: (Dollars in thousands) Balance 2023 $ 82,543 2024 84,642 2025 92,966 2026 61,351 2027 37,310 Thereafter 8,869 Lease payments receivable, at amortized cost $ 367,681 Lessee Arrangements Peoples leases certain banking facilities and equipment under various agreements with original terms providing for fixed monthly payments over periods generally ranging from two The table below details Peoples' lease expense, which is included in "Net occupancy and equipment expense" in the Consolidated Statements of Income for the years ended December 31: (Dollars in thousands) 2022 2021 Operating lease expense $ 2,568 $ 1,632 Short-term lease expense 745 411 Total lease expense $ 3,313 $ 2,043 Peoples utilizes an incremental borrowing rate to determine the present value of lease payments for each lease, as the lease agreements do not provide an implicit rate. The estimated incremental borrowing rate reflects a secured rate and is based on the term of the lease and the interest rate environment at the lease commencement or remeasurement date. The following table details the ROU asset, the lease liability and other information related to Peoples' operating leases on the Consolidated Balance Sheet at December 31: (Dollars in thousands) 2022 2021 Right-of-use asset: Other assets $ 6,825 $ 7,911 Lease liability: Accrued expenses and other liabilities $ 7,551 $ 8,674 Other information: Weighted-average remaining lease term 8.8 years 9.5 years Weighted-average discount rate 2.70 % 2.36 % Cash paid during the year for operating leases $ 2,560 $ 1,585 Additions for right-of-use assets obtained during the year $ 880 $ 2,482 The following table summarizes the future lease payments of operating leases: (Dollars in thousands) Payments 2023 $ 2,245 2024 1,487 2025 1,002 2026 839 2027 702 Thereafter 3,005 Total undiscounted lease payments $ 9,280 Imputed interest (1,729) Total lease liability $ 7,551

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill The following table details changes in the recorded amount of goodwill for the years ended December 31: (Dollars in thousands) 2022 2021 Goodwill, beginning of year $ 264,193 $ 171,260 Goodwill recorded from acquisitions 28,204 92,933 Goodwill, end of year $ 292,397 $ 264,193 Peoples performed a qualitative assessment of goodwill as of October 1, 2022, and management does not believe it is more likely than not that the fair value of Peoples' reporting unit is less its carrying amount. On March 11, 2022, Peoples Insurance entered into an Asset Purchase Agreement with Elite, and consummated the acquisition on April 1, 2022. In 2022, Peoples recorded $2.3 million of goodwill related to this acquisition. Peoples Bank entered into an Asset Purchase Agreement, dated March 7, 2022 with Vantage, at which point Vantage became a legal subsidiary of Peoples Bank. Peoples recorded $27.2 million of goodwill related to this acquisition. During 2022, Peoples also recorded a $1.3 million reduction of the goodwill recognized in the Premier Merger due to changes in the fair value of loans acquired from Premier. On April 1, 2021, Peoples recorded $24.7 million of goodwill related to the acquisition of NSL. On May 4, 2021, Peoples Insurance recorded $46,000 of goodwill from the acquisition of an insurance agency. On September 17, 2021, Peoples completed the merger with Premier, for which Peoples recorded $66.9 million of goodwill. Other intangible assets Other intangible assets were comprised of the following at December 31: (Dollars in thousands) Core Deposits Customer Relationships Indefinite-Lived Trade Names Total 2022 Gross intangibles $ 26,464 $ 25,173 $ 1,274 $ 52,911 Intangibles recorded from acquisitions (a) — 14,067 1,217 15,284 Accumulated amortization (20,667) (15,412) — (36,079) Total acquisition-related intangibles $ 5,797 $ 23,828 2,491 $ 32,116 Servicing rights 1,816 Total other intangibles $ 33,932 2021 Gross intangibles $ 22,233 $ 12,495 $ — $ 34,728 Intangibles recorded from acquisitions (a) 4,233 13,014 1,274 18,521 Accumulated amortization (19,048) (9,603) — (28,651) Total acquisition-related intangibles $ 7,418 $ 15,906 1,274 $ 24,598 Servicing rights 2,218 Total other intangibles $ 26,816 (a) Peoples included in customer relationship intangibles an intangible asset related to a non-compete agreement in the Peoples performed other intangible assets impairment testing as of October 1, 2022 and concluded there was no impairment in the recorded value of other intangible assets as of October 1, 2022. During the annual impairment test, Peoples assessed qualitative factors, including relevant events and circumstances, to determine that it was more-likely-than-not that the fair value of other intangible assets exceeded the carrying value. Other intangible assets recorded from the above-mentioned acquisitions in 2022 were $10.8 million of customer relationship intangible assets, $1.2 million of non-compete intangible assets, and $1.2 million of indefinite-lived trade name intangible assets related to the Vantage acquisition. Peoples also recorded $2.0 million of customer relationship intangible assets and $0.1 million of non-compete intangible assets related to the acquisition of Elite. Other intangible assets recorded in 2021 included $12.7 million of customer relationship intangible assets related to the NSL acquisition, $4.2 million of core deposit intangible assets related to the Premier Merger, and $0.3 million of non-compete intangible assets, and $1.3 million of trade name intangible assets, both related to the NSL acquisition. Refer to "Note 20 Acquisitions" for additional information. The following table details estimated aggregate future amortization of other intangible assets at December 31, 2022: (Dollars in thousands) Core Deposits Customer Relationships Total 2023 $ 1,257 $ 6,269 $ 7,526 2024 1,058 5,325 6,383 2025 891 4,255 5,146 2026 731 3,114 3,845 2027 572 2,289 2,861 Thereafter 1,288 2,576 3,864 Total $ 5,797 $ 23,828 $ 29,625 The weighted average amortization period of other intangibles is 7.2 years. The following is an analysis of activity of servicing rights for the years ended December 31: (Dollars in thousands) 2022 2021 2020 Balance, beginning of year $ 2,218 $ 2,486 $ 2,742 Amortization (594) (936) (1,121) Servicing rights originated 180 519 1,026 Change in valuation allowance 12 149 (161) Balance, end of year $ 1,816 $ 2,218 $ 2,486 For the years ended December 31, 2022 and 2021, Peoples recorded reductions of $12,000 and $149,000, respectively, to the valuation allowance due to increases in the fair value of servicing rights. During 2020, Peoples established a valuation allowance of $161,000 related to the decrease in the fair value of servicing rights to less than the carrying value. The following is the breakdown of the discount rates and prepayment speeds of servicing rights for the years ended December 31: 2022 2021 Minimum Maximum Minimum Maximum Discount rates 12.5 % 15.0 % 8.3 % 10.8 % Prepayment speeds 6.5 % 23.8 % 8.9 % 27.1 % The fair value of servicing rights was $3.4 million at December 31, 2022 and $2.6 million at December 31, 2021.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2022
Banking and Thrift, Other Disclosure [Abstract]
Deposits	Deposits Peoples’ deposit balances were comprised of the following at December 31: (Dollars in thousands) 2022 2021 Retail CDs: $100 or more $ 263,341 $ 320,574 Less than $100 266,895 323,185 Total retail CDs 530,236 643,759 Interest-bearing deposit accounts 1,160,182 1,167,460 Savings accounts 1,068,547 1,036,738 Money market deposit accounts 617,029 651,169 Governmental deposit accounts 625,965 617,259 Brokered deposit accounts 125,580 104,745 Total interest-bearing deposits 4,127,539 4,221,130 Non-interest-bearing deposits 1,589,402 1,641,422 Total deposits $ 5,716,941 $ 5,862,552 Uninsured deposits were $1.6 billion and $1.7 billion at December 31, 2022 and 2021, respectively. Uninsured amounts are estimated based on the portion of account balances that met or exceeded the FDIC limit of $250,000. Uninsured time deposits are broken out below by time remaining until maturity. (Dollars in thousands) 2022 2021 3 months or less $ 19,282 $ 23,779 Over 3 to 6 months 14,871 26,964 Over 6 to 12 months 14,383 34,434 Over 12 months 52,216 36,115 Total $ 100,752 $ 121,292 The contractual maturities of CDs for each of the next five years and thereafter are as follows: (Dollars in thousands) Retail Brokered Total 2023 $ 316,073 $ 125,580 $ 441,653 2024 132,130 — 132,130 2025 32,838 — 32,838 2026 22,127 — 22,127 2027 26,978 — 26,978 Thereafter 90 — 90 Total CDs $ 530,236 $ 125,580 $ 655,816 Deposits from related parties were $8.5 million and $12.6 million at December 31, 2022 and 2021, respectively. At December 31, 2022, 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 deposits. Brokered deposits 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 15 Derivative Financial Instruments."

Short-Term Borrowings

Short-Term Borrowings	12 Months Ended
	Dec. 31, 2022
Short-Term Debt [Abstract]
Short-Term Borrowings	Short-Term Borrowings Peoples utilizes various short-term borrowings as sources of funds, which are summarized as follows at December 31: (Dollars in thousands) Retail Repurchase Agreements FHLB Advances Other Total 2022 Ending balance $ 100,138 $ 400,000 $ — $ 500,138 Average balance 113,434 83,356 — 196,790 Highest month-end balance 286,442 400,000 — 500,138 Interest expense $ 274 $ 2,387 $ — $ 2,661 Weighted-average interest rate: End of year 0.40 % 4.36 % — % 3.57 % During the year 0.24 % 2.86 % — % 1.35 % 2021 Ending balance $ 111,482 $ 55,000 $ — $ 166,482 Average balance 70,674 30,289 — 100,963 Highest month-end balance 119,693 65,017 — 184,693 Interest expense $ 66 $ 475 $ — $ 541 Weighted-average interest rate: End of year 0.09 % 0.74 % — % 0.31 % During the year 0.09 % 1.57 % — % 0.54 % 2020 Ending balance $ 53,261 $ 20,000 $ — $ 73,261 Average balance 44,902 129,928 1,803 176,633 Highest month-end balance 53,261 235,989 64,000 279,773 Interest expense $ 77 $ 2,489 $ 5 $ 2,571 Weighted-average interest rate: End of year 0.06 % 1.78 % — % 0.53 % During the year 0.17 % 1.92 % 0.25 % 1.46 % Peoples’ retail Repurchase Agreements consist of overnight agreements with Peoples’ commercial customers and serve as a cash management tool. The FHLB advances consist of overnight borrowings, 90-day advances used to fund interest rate swaps, other advances with an original maturity of one year or less, and the current portion of long-term advances due in less than one year. These advances, along with the long-term advances disclosed in "Note 10 Long-Term Borrowings," are collateralized by residential mortgage loans and investment securities. Peoples’ borrowing capacity with the FHLB is based on the amount of collateral pledged and the amount of FHLB common stock owned. Peoples had no reclassifications in 2022 and reclassified $15.0 million of FHLB advances from long-term borrowings to short-term borrowings in 2021, due to maturity dates of less than one year. Peoples' FHLB advances of $55.0 million and $70.0 million matured in 2022 and 2021, respectively. Other short-term borrowings consisted primarily of federal funds purchased and advances from the Federal Reserve Discount Window. Federal funds purchased are short-term borrowings from correspondent banks that typically mature within one $264.1 million . As of April 3, 2019, Peoples entered into the U.S. Bank Loan Agreement with U.S. Bank National Association. The U.S. Bank Loan Agreement initially had an one-year term, which has subsequently been renewed, most recently as of March 31, 2022 for an additional year, and currently provides Peoples with a revolving line of credit in the maximum aggregate principal amount of $30.0 million that may be used: (i) for working capital purposes; (ii) to finance dividends or other distributions (other than stock dividends and stock splits) on or in respect of Peoples’ capital stock and redemptions, repurchases or other acquisitions of any of Peoples’ capital stock permitted under the U.S. Bank Loan Agreement and (iii) to finance acquisitions permitted under the U.S. Bank Loan Agreement. The U.S. Bank Loan Agreement is unsecured, and contains certain negative and financial covenants. The financial covenants are applicable to Peoples and its subsidiaries, and are usual and customary for comparable transactions. As of December 31, 2022, Peoples was in compliance with the applicable covenants imposed by the U.S. Bank Loan Agreement, as amended by the Fourth Amendment to the U.S. Bank Loan Agreement. The U.S. Bank Loan Agreement matures on March 31, 2023. Peoples is in the process of renewing this facility and expects that it will be renewed prior to its expiration.

Long-Term Borrowings

Long-Term Borrowings	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Long-Term Borrowings	Long-Term Borrowings Long-term borrowings consisted of the following at December 31: 2022 2021 (Dollars in thousands) Balance Weighted- Average Rate Balance Weighted- Average Rate FHLB putable, non-amortizing, fixed rate advances $ 30,000 2.51 % $ 80,000 1.42 % FHLB amortizing, fixed rate advances 4,158 1.79 % 5,825 1.77 % Vantage non-recourse borrowings 53,147 4.75 % — — % Junior subordinated debt securities 13,788 8.66 % 13,650 3.37 % Long-term borrowings (a) $ 101,093 $ 99,475 (a) The average interest rates on total long-term borrowings at December 31, 2022 and December 31, 2021 were 4.27% and 1.69%, respectively. Peoples continually evaluates its overall balance sheet position given the interest rate environment. During 2022, Peoples did not borrow any additional long-term advances from the FHLB. At December 31, 2022, outstanding long-term FHLB non-amortizing advances, which have interest rates ranging from 2.17% to 3.20%, mature between 2026 and 2027. Outstanding long-term FHLB amortizing, fixed rate advances, which have interest rates ranging from 1.25% to 3.83%, mature between 2026 and 2031. The FHLB putable, non-amortizing, fixed rate advances have maturities ranging from three may be repaid prior to maturity, subject to the payment of termination fees. The FHLB has the option, at its sole discretion, to terminate each advance after the initial fixed rate period of three months, requiring full repayment of the advance by Peoples, prior to the stated maturity. If an advance is terminated prior to maturity, the FHLB will offer Peoples replacement funding at the then-prevailing rate on an advance product then offered by the FHLB, subject to normal FHLB credit and collateral requirements. These advances require monthly interest payments, with no repayment of principal until the earlier of either an option to terminate being exercised by the FHLB or the stated maturity. The FHLB amortizing, fixed rate advances have a fixed rate for the term of each advance, with maturities ranging from three ese advances require monthly principal and interest payments, with some having a constant prepayment rate requiring an additional principal payment annually. These advances are not eligible for optional prepayment prior to maturity. Long-term FHLB advances are collateralized by assets owned by Peoples. Non-recourse borrowings are used by Vantage to fund leases. Certain non-recourse borrowings acquired from Vantage were paid off subsequent to the acquisition. The Vantage non-recourse borrowings have interest rates ranging from 2.12% to 8.75% with various maturities, the latest being in 2029. Payments received from customers on non-recourse leases are used to fund repayment of these borrowings. In the event of default, the non-recourse borrowing is forgiven. The “Junior subordinated debt securities” are comprised of two trust preferred securities assumed from two prior acquisitions. On March 6, 2015, Peoples completed its acquisition of NB&T Financial Group, Inc. (“NB&T”), which included a trust preferred security du e in 2037 with a $9 million par value and a $6.6 million fair value at acquisition. As of December 31, 2022, this trust preferred security had a carrying value of $7.9 million with an interest rate of 9.27%, inclusive of the impact of fair value adjustments. On September 17, 2021, Peoples completed the Premier Merger, which included a trust preferred security due in 2034 with a $6.2 million par value and a $6.1 million fair value at acquisition. As of December 31, 2022, this trust preferred security had a carrying value of $5.9 million and an interest rate of 7.83%, inclusive of the impact of fair value adjustments. These trust preferred securities are considered tier 1 capital (with certain limitations applicable) under current regulatory guidelines. At December 31, 2022, the aggregate minimum annual retirements of long-term borrowings in future periods were as follows: (Dollars in thousands) Balance 2023 $ 10,343 2024 18,042 2025 11,820 2026 26,052 2027 15,946 Thereafter 18,890 Total long-term borrowings $ 101,093

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity The following table details the activity in Peoples’ common stock and treasury stock during the years ended December 31: Common Stock Treasury Shares at December 31, 2019 21,156,143 504,182 Changes related to stock-based compensation awards: Grant of restricted common shares — (128,402) Release of restricted common shares — 27,391 Cancellation of restricted common shares — 33,689 Grant of unrestricted common shares — (23,482) Changes related to deferred compensation plan for Boards of Directors: Purchase of treasury stock — 12,005 Disbursed out of treasury stock — (2,362) Common shares purchased under repurchase program — 1,299,577 Common shares issued under dividend reinvestment plan 37,259 — Common shares issued under compensation plan for Boards of Directors — (11,553) Common shares issued under performance unit awards — (6,127) Common shares issued under employee stock purchase plan — (18,872) Shares at December 31, 2020 21,193,402 1,686,046 Changes related to stock-based compensation awards: Grant of restricted common shares — (109,385) Release of restricted common shares — 34,732 Cancellation of restricted common shares — 8,129 Grant of unrestricted common shares — (21,587) Changes related to deferred compensation plan for Boards of Directors: Purchase of treasury stock — 7,089 Disbursed out of treasury stock — (2,983) Common shares issued under dividend reinvestment plan 31,314 — Common shares issued under compensation plan for Boards of Directors — (7,589) Common shares issued under employee stock purchase plan — (17,093) Issuance of common shares related to the Premier Merger 8,589,685 — Shares at December 31, 2021 29,814,401 1,577,359 Changes related to stock-based compensation awards: Grant of restricted common shares — (216,669) Release of restricted common shares — 39,445 Cancellation of restricted common shares — 5,452 Grant of unrestricted common shares (1,500) Changes related to deferred compensation plan for Boards of Directors: Purchase of treasury stock — 15,688 Disbursed out of treasury stock — (3,039) Common shares repurchased under repurchase program — 263,183 Common shares issued under dividend reinvestment plan 43,519 — Common shares issued under compensation plan for Boards of Directors — (17,626) Common shares issued under employee stock purchase plan — (18,832) Shares at December 31, 2022 29,857,920 1,643,461 On January 28, 2021, Peoples' Board of Directors approved a share repurchase program authorizing Peoples to purchase up to an aggregate of $30.0 million of Peoples' outstanding common shares, replacing the February 27, 2020 share repurchase program which had authorized Peoples to purchase up to an aggregate of $40.0 million of Peoples' outstanding common shares. Peoples purchased an aggregate of 263,183 of Peoples' outstanding common shares totaling $7.4 million during 2022 and did not repurchase any common shares during 2021 under the share repurchase program authorized on January 28, 2021. On February 27, 2020, Peoples' Board of Directors authorized a share repurchase program authorizing Peoples to purchase up to an aggregate of $40.0 million of Peoples' outstanding common shares, replacing the then previous share repurchase program which had authorized Peoples to purchase up to an aggregate of $20 million of Peoples' outstanding common shares. An aggregate of $6.3 million of Peoples' outstanding common shares were purchased under the then previous share repurchase program from inception through its termination date, which was February 27, 2020. During 2020, Peoples purchased an aggregate of $29.3 million of Peoples' outstanding common shares, $843,000 of which were purchased under the then previous share repurchase program and $28.5 million of which were purchased under the share repurchase program authorized on February 27, 2020 and later terminated on January 28, 2021. Under its Amended Articles of Incorporation, Peoples is authorized to issue up to 50,000 preferred shares, in one or more series, having such voting powers, designations, preferences, rights, qualifications, limitations and restrictions as determined by Peoples' Board of Directors. At December 31, 2022 and 2021, Peoples had no preferred shares issued or outstanding. The following table details the cash dividends declared per common share for the year ended December 31: 2022 2021 First Quarter $ 0.36 $ 0.35 Second Quarter 0.38 0.36 Third Quarter 0.38 0.36 Fourth Quarter 0.38 0.36 Total dividends declared $ 1.50 $ 1.43 Accumulated Other Comprehensive (Loss) Income The following details the change in the components of Peoples’ accumulated other comprehensive (loss) income for the years ended December 31: (Dollars in thousands) Unrealized Gain (Loss) on Securities Unrecognized Net Pension and Postretirement Costs Unrealized (Loss) Gain on Cash Flow Hedge Accumulated Other Comprehensive (Loss) Income Balance, December 31, 2019 $ 5,300 $ (3,958) $ (2,767) $ (1,425) Reclassification adjustments to net income: Realized loss on sale of securities, net of tax 291 — — 291 Realized loss due to settlement and curtailment, net of tax — 833 — 833 Other comprehensive income (loss), net of reclassifications and tax 9,001 (747) (6,617) 1,637 Balance, December 31, 2020 $ 14,592 $ (3,872) $ (9,384) $ 1,336 Reclassification adjustments to net income: Realized loss on sale of securities, net of tax 670 — — 670 Realized loss due to settlement and curtailment, net of tax — 111 — 111 Other comprehensive (loss) income, net of reclassifications and tax (21,208) 1,880 5,592 (13,736) Balance, December 31, 2021 $ (5,946) $ (1,881) $ (3,792) $ (11,619) Reclassification adjustments to net income: Realized loss on sale of securities, net of tax 47 — — 47 Realized loss due to settlement and curtailment, net of tax — 142 — 142 Other comprehensive (loss) income, net of reclassifications and tax (123,997) 106 8,185 (115,706) Balance, December 31, 2022 $ (129,896) $ (1,633) $ 4,393 $ (127,136)

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Peoples sponsors a noncontributory defined benefit pension plan that covers substantially all employees hired before January 1, 2010. The plan provides retirement benefits based on an employee’s years of service and compensation. For employees hired before January 1, 2003, the amount of postretirement benefit is based on the employee’s average monthly compensation over the highest five Peoples also provides post-retirement health and life insurance benefits to former employees and directors. Only those individuals who retired before January 27, 2012 were eligible for life insurance benefits. As of January 1, 2011, all retirees who desire to participate in the Peoples Bank medical plan do so by electing COBRA, which provides up to 18 months of coverage; retirees over the age of 65 also have the option to pay to participate in a group Medicare supplemental plan. Peoples only pays 100% of the cost for those individuals who retired before January 1, 1993. For all others, the retiree is responsible for most, if not all, of the cost of the health benefits. Peoples’ policy is to fund the cost of the benefits as they arise. The following tables provide a reconciliation of the changes in the benefit obligations and fair value of assets of the plans for the years ended December 31, 2022 and 2021, and a statement of the funded status at December 31, 2022 and 2021: Pension Benefits Post-retirement Benefits (Dollars in thousands) 2022 2021 2022 2021 Change in benefit obligation: Obligation at January 1 $ 10,463 $ 12,310 $ 62 $ 71 Interest cost 280 259 1 2 Plan participants’ contributions — — 47 51 Actuarial (gain) loss (2,359) (1,367) (2) 1 Benefit payments (257) (220) (58) (63) Settlements (546) (519) — — Accumulated benefit obligation at December 31 $ 7,581 $ 10,463 $ 50 $ 62 Change in plan assets: Fair value of plan assets at January 1 $ 11,718 $ 10,852 $ — $ — Actual (loss) return on plan assets (1,746) 1,605 — — Employer contributions 2 — 11 12 Plan participants’ contributions — — 47 51 Benefit payments (257) (220) (58) (63) Settlements (546) (519) — — Fair value of plan assets at December 31 $ 9,171 $ 11,718 $ — $ — Funded status at December 31 $ 1,590 $ 1,255 $ (50) $ (62) Amounts recognized in Consolidated Balance Sheets: Prepaid benefit costs $ 1,590 $ 1,255 $ — $ — Accrued benefit liability $ — $ — $ (50) $ (62) Net amount recognized $ 1,590 $ 1,255 $ (50) $ (62) Amounts recognized in Accumulated Other Comprehensive Loss: Unrecognized prior service cost $ — $ — $ — $ — Unrecognized net loss (gain) 1,681 1,861 (48) (37) Total $ 1,681 $ 1,861 $ (48) $ (37) Weighted-average assumptions at year-end: Discount rate 4.98 % 2.71 % 4.98 % 2.71 % The estimated costs relating to Peoples’ pension benefits that will be amortized from AOCI into net periodic cost over the next fiscal year are $11,000. Net Periodic (Benefit) Cost The following table details the components of the net periodic (benefit) cost for the plans at December 31: Pension Benefits Post-retirement Benefits (Dollars in thousands) 2022 2021 2020 2022 2021 2020 Interest cost $ 280 $ 259 $ 326 $ 1 $ 2 $ 2 Expected return on plan assets (670) (658) (747) — — — Amortization of prior service credit — — — — — — Amortization of net loss (gain) 67 107 132 (4) (4) (5) Settlement of benefit obligation 185 143 1,054 — — — Net periodic (benefit) cost $ (138) $ (149) $ 765 $ (3) $ (2) $ (3) Weighted-average assumptions: Discount rate 3.14 % 2.44 % 2.53 % 2.71 % 2.38 % 3.12 % Expected return on plan assets 7.00 % 7.00 % 7.50 % N/A N/A N/A Rate of compensation increase N/A N/A N/A N/A N/A N/A For measurement purposes, a 4.5% annual rate of increase in the per capita cost of covered benefits (i.e., health care cost trend rate) was assumed for 2022 and grade down to an ultimate rate of 4.0% in 2070. The health care trend rate assumption does not have a significant effect on the contributory defined benefit postretirement plan; therefore, an one percentage point increase or decrease in the trend rate is not material in the determination of the accumulated postretirement benefit obligation or the ongoing expense. Under US GAAP, Peoples is required to recognize a settlement gain or loss when the aggregate amount of lump-sum distributions to participants equals or exceeds the sum of the service and interest cost components of the net periodic pension cost. The amount of settlement gain or loss recognized is the pro rata amount of the unrealized gain or loss existing immediately prior to the settlement. In general, both the projected benefit obligation and the fair value of plan assets are required to be remeasured in order to determine the settlement gain or loss. There were $185,000 in settlement charges recorded in 2022, compared to $143,000 recorded in 2021, and $1.1 million recorded in 2020. Determination of Expected Long-term Rate of Return The expected long-term rate of return on the pension plan's total assets is based on a weighted average of the expected return of each category of the pension plan's assets. Peoples' investment strategy for the pension plan's assets continues to allocate 60%-75% to equity securities. Plan Assets Peoples' investment strategy, as established by Peoples' Retirement Plan Committee, is to invest assets of the pension plan based upon established target allocations, which include a target range of 60-75% allocation in equity securities, 20-43% in debt securities and 2-10% of other investments. The assets are reallocated periodically to meet the target allocations. The investment policy is reviewed periodically, under the advisement of a certified investment advisor, to determine if the policy should be changed. The following table provides the fair values of investments held in Peoples' pension plan at December 31, by major asset category: (Dollars in thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) 2022 Equity securities: Mutual funds – equity $ 6,357 $ 6,357 Debt securities: Mutual funds – taxable income 2,439 2,439 Total fair value of pension assets $ 8,796 $ 8,796 2021 Equity securities: Mutual funds – equity $ 8,516 $ 8,516 Debt securities: Mutual funds – taxable income 2,912 2,912 Total fair value of pension assets $ 11,428 $ 11,428 Pension plan assets also included cash and cash equivalents of $375,000 and no accrued income at December 31, 2022. Cash and cash equivalents were $284,000 and accrued income was $1,000 at December 31, 2021. For further information regarding levels of input used to measure fair value, refer to "Note 2 Fair Value of Financial Instruments." Equity securities held as investments in Peoples' pension plan did not include any securities of Peoples or related parties in 2022 or 2021. Cash Flows Peoples does not expect to make contributions to its pension plan in 2023; however, actual contributions are made at the discretion of the Retirement Plan Committee and Peoples' Board of Directors. Estimated future benefit payments, which reflect benefits attributable to estimated future service, for the years ending December 31 are as follows: (Dollars in thousands) Pension Benefits Post-retirement Benefits 2023 $ 1,082 $ 10 2024 843 9 2025 656 7 2026 792 6 2027 659 6 2028 to 2032 2,780 16 Total $ 6,812 $ 54 Retirement Savings Plan Peoples also maintains a retirement savings plan, or 401(k) plan, which covers substantially all employees. The plan provides participants with the opportunity to save for retirement on a tax-deferred basis. From January 1, 2011, until December 31, 2019, matching contributions equaled 100% of participants' contributions that did not exceed 3% of the participants' compensation, plus 50% of participants' contributions between 3% and 5% of the participants' compensation. Beginning January 1, 2020, Peoples matched 100% of participants' contributions that did not exceed 4% of the participants' compensation, plus 50% of participants' contributions between 4% and 6% of the participants' compensation. As of January 1, 2021, Peoples began matching 100% of participants' contributions up to 6% of the participants' compensation. Matching contributions made by Peoples totaled $4.4 million in 2022, $3.5 million in 2021 and $2.5 million in 2020.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The reported income tax expense and effective tax rate in the Consolidated Statements of Income differ from the amounts computed by applying the statutory federal corporate income tax rate as follows for the years ended December 31: (Dollars in thousands) 2022 2021 2020 Amount Rate Amount Rate Amount Rate Income tax computed at statutory federal corporate income tax rate $ 27,015 21.0 % $ 11,954 21.0 % $ 8,956 21.0 % Differences in rate resulting from: State taxes, net of federal benefit 2,277 1.8 % 119 0.2 % 62 0.1 % Investment securities impairment 431 0.3 % — — % — — % Nondeductible acquisition costs 42 — % 269 0.5 % — — % Common share awards 12 — % 74 0.1 % (5) — % Bank owned life insurance (551) (0.4) % (371) (0.6) % (415) (1.0) % Investments in tax credit funds (629) (0.5) % (381) (0.7) % (415) (1.0) % Captive insurance benefit (421) (0.3) % (435) (0.8) % (412) (1.0) % Tax-exempt interest income (921) (0.7) % (835) (1.5) % (668) (1.6) % Fixed asset depreciation — — % (1,142) (2.0) % — — % Other, net 94 0.1 % 163 0.3 % 776 2.0 % Income tax expense $ 27,349 21.3 % $ 9,415 16.5 % $ 7,879 18.5 % Peoples' reported income tax expense consisted of the following for the years ended December 31: (Dollars in thousands) 2022 2021 2020 Current income tax expense $ 8,783 $ 6,541 $ 15,980 Deferred income tax expense (benefit) 18,566 2,874 (8,101) Income tax expense $ 27,349 $ 9,415 $ 7,879 The significant components of Peoples' deferred tax assets and deferred tax liabilities consisted of the following at December 31: (Dollars in thousands) 2022 2021 Deferred tax assets: Available-for-sale securities $ 39,425 $ 1,905 Allowance for credit losses 12,827 13,575 Nonaccrual loan interest income 4,366 3,898 Accrued employee benefits 3,391 2,161 Lease obligation 1,757 1,960 Net operating loss carryforward 158 223 Tax credit investments — 1,096 Derivative instruments — 1,088 Other 899 561 Gross deferred tax assets $ 62,823 $ 26,467 Valuation allowance $ 158 $ 158 Total deferred tax assets $ 62,665 $ 26,309 Deferred tax liabilities: Equipment leases $ 16,316 $ — Deferred loan income 5,512 5,249 Purchase accounting adjustments 4,431 3,166 Bank premises and equipment 3,206 3,838 Lease right-of-use assets 1,588 1,788 Derivative instruments 1,302 — Other 2,259 662 Total deferred tax liabilities $ 34,614 $ 14,703 Net deferred tax asset $ 28,051 $ 11,606 At December 31, 2022, Peoples had $2.2 million of state net operating loss carryforwards which are unlikely to be utilized, resulting in a valuation allowance against the net tax benefit of approximately $158,000. The federal income tax benefit from sales of investment securities was $14,000 in 2022, $192,000 in 2021, and $77,000 in 2020. Income tax benefits are recognized in the Consolidated Financial Statements for a tax position only if it is considered "more-likely-than-not" of being sustained in an audit, based solely on the technical merits of the income tax position. If the recognition criteria are met, the amount of income tax benefits to be recognized are measured based on the largest income tax benefit that is more than 50 percent likely to be realized on ultimate resolution of the tax position. The following table provides a reconciliation of uncertain tax positions at December 31: (Dollars in thousands) 2022 2021 Uncertain tax positions, beginning of year $ 106 $ 149 Gross increase based on tax positions related to current year 39 — Gross decrease due to the statute of limitations (56) (43) Uncertain tax positions, end of year $ 89 $ 106 Peoples is subject to U.S. federal income tax, as well as to tax in various state income tax jurisdictions. Peoples' income tax returns are subject to review and examination by federal and state taxing authorities. Peoples is currently open to audit under the applicable statutes of limitations by the Internal Revenue Service for the years ended December 31, 2019 through 2021. The years open to examination by state taxing authorities vary by jurisdiction.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share The calculations of basic and diluted earnings per common share for the years ended December 31 were as follows: (Dollars in thousands, except per common share data) 2022 2021 2020 Net income available to common shareholders $ 101,292 $ 47,555 $ 34,767 Less: Dividends paid on unvested common shares (354) (295) (367) Add: Undistributed loss allocated to unvested common shares (96) (26) (5) Net earnings allocated to common shareholders $ 100,842 $ 47,234 $ 34,395 Weighted-average common shares outstanding 27,908,022 21,816,511 19,721,772 Effect of potentially dilutive common shares 91,580 143,372 122,034 Total weighted-average diluted common shares outstanding 27,999,602 21,959,883 19,843,806 Earnings per common share: Basic $ 3.61 $ 2.17 $ 1.74 Diluted $ 3.60 $ 2.15 $ 1.73 Anti-dilutive common shares excluded from calculation: Restricted shares — 275 64,145

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Peoples utilizes interest rate swap agreements as part of its asset/liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swaps does not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate swap agreements. The fair value of derivative financial instruments is included in "Other assets" and "Accrued expenses and other liabilities" in the Consolidated Balance Sheets and in the net other adjustments to reconcile net income to "Net cash provided by operating activities" in the Consolidated Statements of Cash Flows. Derivative Financial Instruments and Hedging Activities – Risk Management Objective of Using Derivative Financial Instruments Peoples is exposed to certain risks arising from both its business operations and economic conditions. Peoples principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. Peoples manages economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources and duration of its assets and liabilities. Peoples also manages interest rate risk through the use of derivative financial instruments. Specifically, Peoples enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known or expected cash amounts, the values of which are determined by interest rates. Peoples’ derivative financial instruments are used to manage differences in the amount, timing and duration of Peoples' known or expected cash receipts and its known or expected cash payments principally related to certain variable rate borrowings. Peoples also has interest rate derivative financial instruments that result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk in Peoples' assets or liabilities. Peoples manages a matched book with respect to customer-related derivative financial instruments in order to minimize its net risk exposure resulting from such transactions. Cash Flow Hedges of Interest Rate Risk Peoples' objectives in using interest rate derivative financial instruments are to add stability to interest income and expense, and to manage its exposure to interest rate movements. To accomplish these objectives, Peoples has entered into interest rate swaps as part of its interest rate risk management strategy. These interest rate swaps were designated as cash flow hedges and involve the receipt of variable rate amounts from a counterparty in exchange for Peoples making fixed payments. At December 31, 2022, Peoples had entered into thirteen interest rate swaps with an aggregate notional value of $125.0 million. Peoples will pay a fixed rate of interest for up to ten years while receiving a floating rate component of interest equal to the three-month LIBOR rate. The interest received on the floating rate component is intended to offset the interest paid on rolling three-month brokered deposits which will continue to be rolled through the life of the swaps. At December 31, 2022, the interest rate swaps were designated as cash flow hedges of $125.0 million in brokered deposits, which are expected to be extended every 90 days through the maturity dates of the swaps. For derivative financial instruments designated as cash flow hedges and assessed as effective, the changes in the fair value of each derivative financial instrument is reported in AOCI (outside of earnings), net of tax, and are reclassified to interest expense as interest payments are made or received on Peoples' variable-rate liabilities. Peoples assesses the effectiveness of each hedging relationship by comparing the changes in cash flows of the hedging derivative financial instrument with the changes in cash flows of the designated hedged transaction. The reset dates and the payment dates on the 90-day advances or brokered deposits are matched to the reset dates and payment dates on the receipt of the three-month LIBOR floating portion of the swaps to ensure effectiveness of the cash flow hedge. During the years ended December 31, 2022 and December 31, 2021, Peoples had reclassifications of changes in fair value to interest expense of $0.8 million and $0.7 million, respectively. The following table summarizes information about the interest rate swaps designated as cash flow hedges at December 31: (Dollars in thousands) 2022 2021 Notional amount $ 125,000 $ 125,000 Weighted average pay rates 2.26 % 2.26 % Weighted average receive rates 4.44 % 1.10 % Weighted average maturity 2.6 years 3.6 years Pre-tax changes in fair value included in AOCI 5,727 (4,879) The following table presents changes in fair value recorded in AOCI and in the Consolidated Statements of Income related to the cash flow hedges for the years ended December 31: (Dollars in thousands) 2022 2021 Amount of income recognized in AOCI, pre-tax $ 10,606 $ 6,999 The following table reflects the cash flow hedges, which were included in the Consolidated Balance Sheets at fair value, at December 31: 2022 2021 (Dollars in thousands) Notional Amount Fair Value Notional Amount Fair Value Included in "Other assets": Interest rate swaps related to debt $ 125,000 $ 5,594 $ — $ — Total included in "Other assets" $ 125,000 $ 5,594 $ — $ — Included in "Accrued expenses and other liabilities": Interest rate swaps related to debt $ — $ — $ 125,000 $ 5,020 Total included in "Accrued expenses and other liabilities" $ — $ — $ 125,000 $ 5,020 Non-Designated Hedges Peoples maintains an interest rate protection program for commercial loan customers, which was established in 2010. Under this program, Peoples originates variable rate loans with interest rate swaps, where the customer enters into an interest rate swap with Peoples on terms that match the terms of the loan. By entering into the interest rate swap with the customer, Peoples effectively provides the customer with a fixed rate loan while creating a variable rate asset for Peoples. Peoples offsets its exposure in the swap by entering into an offsetting interest rate swap with an unaffiliated institution. These interest rate swaps do not qualify as designated hedges; therefore, each swap is accounted for as a standalone derivative financial instrument. These interest rate swaps did not have a material impact on Peoples' results of operation or financial condition for the years ended December 31, 2022 and 2021. The following table reflects the non-designated hedges, which were included in the Consolidated Balance Sheets at fair value, at December 31: 2022 2021 (Dollars in thousands) Notional Amount Fair Value Notional Amount Fair Value Included in "Other assets": Interest rate swaps related to commercial loans $ 390,126 $ 28,529 $ 419,733 $ 12,163 Total included in "Other assets" 390,126 28,529 419,733 12,163 Included in "Accrued expenses and other liabilities": Interest rate swaps related to commercial loans $ 390,126 $ 28,529 $ 419,733 $ 12,163 Total included in "Accrued expenses and other liabilities" 390,126 28,529 419,733 12,163 Pledged Collateral Peoples pledges or receives collateral for all interest swaps. When the fair value of Peoples' interest rate swaps are in a net liability position, Peoples must pledge collateral, and, when the fair value of Peoples' interest rate swaps are in a net asset position, the respective counterparties must pledge collateral. At each of December 31, 2022 and December 31, 2021, Peoples had no cash pledged while the counterparties had pledged $20.9 million at December 31, 2022 and none at December 31, 2021. At December 31, 2022 and December 31, 2021, Peoples had zero and $28.1 million, respectively, in investment securities pledged, while counterparties had $2.5 million of investment securities pledged at December 31, 2022 and none pledged at December 31, 2021. Investment securities pledged are included in "Available-for-sale investment securities" and "Held-to-maturity investment securities" on the Consolidated Balance Sheets.

Off-Balance Sheet Risk

Off-Balance Sheet Risk	12 Months Ended
	Dec. 31, 2022
Off-Balance-Sheet, Credit Loss, Liability [Abstract]
Off-Balance Sheet Risk	Off-Balance Sheet Risk Loan Commitments and Standby Letters of Credit Loan commitments are made to accommodate the financial needs of Peoples' customers. Standby letters of credit are instruments issued by Peoples Bank guaranteeing the beneficiary payment by Peoples Bank in the event of default by Peoples Bank's customer in the nonperformance of an obligation or service. Historically, most loan commitments and standby letters of credit expire unused. Peoples' exposure to credit loss in the event of nonperformance by the counter-party to the financial instrument for loan commitments and standby letters of credit is represented by the contractual amount of those instruments. Peoples uses the same underwriting standards in making commitments and conditional obligations as it does for on-balance sheet instruments. The amount of collateral obtained is based on management's credit evaluation of the customer. Collateral held varies, but may include accounts receivable; inventory; property, plant, and equipment; and income-producing commercial properties. The total amounts of loan commitments and standby letters of credit at December 31 were: (Dollars in thousands) 2022 2021 Home equity lines of credit $ 197,995 $ 177,262 Unadvanced construction loans 270,229 227,135 Other loan commitments 730,015 577,170 Loan commitments 1,198,239 981,567 Standby letters of credit $ 15,451 $ 12,805

Regulatory Matters

Regulatory Matters	12 Months Ended
	Dec. 31, 2022
Regulatory Matters [Abstract]
Regulatory Matters	Regulatory Matters The following is a summary of certain regulatory matters affecting Peoples and its subsidiaries: Federal Reserve Board Requirements Peoples Bank is required to maintain a minimum level of reserves, consisting of cash on hand and non-interest-bearing balances with the FRB of Cleveland, based on the amount of total deposits. Average required reserve balances were $0 and $0 in 2022 and 2021, respectively. Limits on Dividends The primary source of funds for the dividends paid by Peoples is dividends received from Peoples Bank. The payment of dividends by Peoples Bank is subject to various banking regulations. The most restrictive provision requires regulatory approval if dividends declared in any calendar year exceed the total net profits of that year plus the retained net profits of the preceding two years. At December 31, 2022, Peoples Bank had approximately $66.3 million of net profits available for distribution to Peoples as dividends without regulatory approval. Capital Requirements Peoples and Peoples Bank are subject to various regulatory capital guidelines administered by the banking regulatory agencies. Under capital adequacy requirements and the regulatory framework for prompt corrective action, Peoples and Peoples Bank must meet specific capital guidelines that involve quantitative measures of each entity's assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. Peoples' and Peoples Bank's capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Failure to meet future minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by the regulators that, if undertaken, could have a material effect on Peoples' financial results. Quantitative measures established by regulation to ensure capital adequacy, and in effect at December 31, 2022, required Peoples and Peoples Bank to maintain minimum amounts and ratios of common equity tier 1 capital, tier 1 capital and total capital (each as defined in the applicable regulations) to risk-weighted assets (as defined), and of tier I capital (as defined) to average assets (as defined). Peoples and Peoples Bank met all capital adequacy requirements at December 31, 2022. At December 31, 2022, the most recent notification from the banking regulatory agencies categorized Peoples Bank as well capitalized under the regulatory framework for prompt corrective action applicable to Peoples Bank. Peoples maintained the capital required by the Federal Reserve Board to be deemed well capitalized and remain a financial holding company. To be categorized as well capitalized, Peoples and Peoples Bank must maintain minimum common equity tier 1, tier 1 risk-based, total risk-based and tier I leverage ratios as set forth in the table below. There are no conditions or events since this notification that management believes have changed Peoples' or Peoples Bank's category. Peoples' and Peoples Bank's actual capital amounts and ratios at December 31 are also presented in the following table: 2022 2021 (Dollars in thousands) Amount Ratio Amount Ratio PEOPLES Common Equity Tier 1 (a) Actual $ 604,566 11.92 % $ 577,565 12.52 % For capital adequacy 228,206 4.50 % 207,642 4.50 % To be well capitalized 329,631 6.50 % 299,927 6.50 % Tier 1 (b) Actual $ 618,354 12.19 % $ 591,215 12.81 % For capital adequacy 304,274 6.00 % 276,856 6.00 % To be well capitalized 405,699 8.00 % 369,141 8.00 % Total Capital (c) Actual $ 662,421 13.06 % $ 648,948 14.06 % For capital adequacy 405,699 8.00 % 369,141 8.00 % To be well capitalized 507,124 10.00 % 461,426 10.00 % Tier 1 Leverage (d) Actual $ 618,354 8.92 % $ 591,215 8.67 % For capital adequacy 277,302 4.00 % 272,916 4.00 % To be well capitalized 346,628 5.00 % 341,145 5.00 % Capital Conservation Buffer $ 256,722 5.06 % $ 279,807 6.06 % Fully phased in 126,781 2.50 % 115,356 2.50 % Net Risk-Weighted Assets $ 5,071,240 $ 4,614,259 2022 2021 (Dollars in thousands) Amount Ratio Amount Ratio PEOPLES BANK Common Equity Tier 1 (a) Actual $ 593,609 11.72 % $ 566,594 12.30 % For capital adequacy 227,843 4.50 % 207,318 4.50 % To be well capitalized 329,107 6.50 % 299,460 6.50 % Tier 1 (b) Actual $ 593,609 11.72 % $ 566,594 12.30 % For capital adequacy 303,791 6.00 % 276,424 6.00 % To be well capitalized 405,055 8.00 % 368,566 8.00 % Total Capital (c) Actual $ 637,676 12.59 % $ 624,238 13.55 % For capital adequacy 405,055 8.00 % 368,566 8.00 % To be well capitalized 506,318 10.00 % 460,707 10.00 % Tier 1 Leverage (d) Actual $ 593,609 8.58 % $ 566,594 8.32 % For capital adequacy 276,712 4.00 % 272,284 4.00 % To be well capitalized 345,890 5.00 % 340,355 5.00 % Capital Conservation Buffer $ 232,621 4.59 % $ 255,672 5.55 % Fully phased in 126,580 2.50 % 115,177 2.50 % Net Risk-Weighted Assets $ 5,063,183 $ 4,607,072 (a) Ratio represents common equity tier 1 capital to net risk-weighted assets (b) Ratio represents tier 1 capital to net risk-weighted assets (c) Ratio represents total capital to net risk-weighted assets (d) Ratio represents tier 1 capital to average assets

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Under the Peoples Bancorp Inc. Third Amended and Restated 2006 Equity Plan (the "2006 Equity Plan"), Peoples may grant, among other awards, nonqualified stock options, incentive stock options, restricted common share awards, stock appreciation rights, performance units and unrestricted common share awards to employees and non-employee directors. The total number of common shares available under the 2006 Equity Plan is 891,340. The maximum number of common shares that can be issued for incentive stock options is 500,000 common shares. Since February 2009, Peoples has granted restricted common shares to employees, and periodically to non-employee directors, subject to the terms and conditions prescribed by the 2006 Equity Plan. Additionally, in 2017, Peoples granted performance units to certain officers. In general, common shares issued in connection with stock-based awards are issued from treasury shares to the extent available. If no treasury shares are available, common shares are issued from authorized but unissued common shares. Restricted Common Shares Under the 2006 Equity Plan, Peoples may award restricted common shares to officers, key employees and non-employee directors. In general, the restrictions on the restricted common shares awarded to employees expire after periods ranging from one The following summarizes the changes to Peoples’ outstanding restricted common shares for the year ended December 31, 2022: 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 88,922 25.44 247,346 32.19 Awarded 62,024 30.88 154,645 32.21 Released (12,424) 32.37 (100,664) 32.20 Forfeited — — (5,452) 32.14 Outstanding at December 31 138,522 27.25 295,875 32.20 The total intrinsic value of restricted common shares released was $3.7 million, $2.6 million and $2.0 million in 2022, 2021 and 2020, respectively. Stock-Based Compensation Peoples recognizes stock-based compensation expense, which is included as a component of Peoples’ salaries and employee benefit costs, for restricted common shares and performance unit awards, as well as purchases made by participants in the employee stock purchase plan. For restricted common shares, Peoples recognizes stock-based compensation based on the estimated fair value of the awards expected to vest on the grant date. The estimated fair value is then expensed over the vesting period, which is normally three years. For performance unit awards, Peoples recognizes stock-based compensation, over the performance period, based on the portion of the awards that is expected to vest based on the expected level of achievement of the established performance goals. Peoples also has an employee stock purchase plan whereby employees can purchase Peoples' common shares at a discount of up to 15%. The following summarizes the amount of stock-based compensation and related tax benefit recognized for the years ended December 31: (Dollars in thousands) 2022 2021 2020 Employee stock-based compensation expense: Restricted common share grant expense $ 3,707 $ 3,436 $ 3,556 Employee stock purchase plan expense 112 79 63 Performance stock unit benefit — — (12) Total employee stock-based compensation expense 3,819 3,515 3,607 Non-employee director stock-based compensation expense 506 375 340 Total stock-based compensation expense 4,325 3,890 3,947 Recognized tax benefit (1,007) (867) (818) Net expense recognized $ 3,318 $ 3,023 $ 3,129 Restricted common shares were the primary form of stock-based compensation awards granted by Peoples in 2022, 2021 and 2020. The fair value of restricted common share awards on the grant date is the market price of Peoples' common shares. Total unrecognized stock-based compensation related to unvested restricted common share awards was $4.1 million at December 31, 2022, which will be recognized over a weighted-average period of 1.9 years. In 2021, the Board of Directors granted 4,347 unrestricted common shares to non-employee directors, with related stock-based compensation of $135,000.

Revenue

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."

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Elite Agency, Inc On April 1, 2022, Peoples Insurance acquired substantially all of the assets and rights of an insurance agency with five locations in eastern Kentucky and certain rights to related customer accounts, which were previously developed and maintained by Elite, pursuant to an Asset Purchase Agreement between Peoples Insurance and Elite. Total consideration for this transaction was $4.4 million. Peoples recognized intangibles of $2.1 million, primarily comprised of a customer relationship intangible. Vantage Financial, LLC On March 7, 2022, Peoples Bank purchased 100% of the equity of Vantage, a nationwide provider of equipment financing headquartered in Excelsior, Minnesota. Peoples Bank acquired assets comprising Vantage's lease business, including $154.9 million in leases and certain third-party debt in the amount of $106.9 million. Under the terms of the agreement, Peoples Bank paid cash consideration of $54.0 million, and also repaid $28.9 million in recourse debt on behalf of Vantage, for total consideration of $82.9 million. Vantage offers mid-ticket equipment leases, primarily for business essential information technology equipment across a wide-array of industries. Peoples recorded acquisition-related expenses of $1.6 million related to the Vantage acquisition, which included $1.3 million in professional fees. The following table provides the purchase price calculation as of the date of the acquisition of Vantage, and the assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) Fair Value Total purchase price $ 82,893 Net assets at fair value Assets Cash and due from banks $ 1,444 Leases 155,726 Allowance for credit losses (on PCD leases) (801) Net leases 154,925 Bank premises and equipment 116 Other intangible assets 13,207 Other assets 1,506 Total assets $ 171,198 Liabilities Borrowings $ 106,919 Accrued expenses and other liabilities 8,550 Total liabilities $ 115,469 Net assets $ 55,729 Goodwill $ 27,164 The goodwill recorded in connection with the Vantage acquisition is related to expected synergies to be gained from the combination of Vantage with Peoples' operations. The employees retained from the Vantage acquisition should allow Peoples to continue to grow the lease portfolio, along with Peoples' resources, and should benefit Peoples in future periods. During Peoples' evaluation of intangible assets, it was determined that an assembled workforce intangible asset was not separately recognizable and was included in goodwill. Peoples recorded other intangible assets, which included a customer relationship intangible, a trade-name intangible and non-compete agreements related to this transaction. The following table details the fair value adjustment for acquired PCD leases as of the acquisition date: (Dollars in thousands) Par Value Allowance for Credit Losses Non-Credit Premium Fair Value PCD leases Leases $ 3,412 $ (801) $ 1,120 $ 3,731 Fair value $ 3,412 $ (801) $ 1,120 $ 3,731 Premier Financial Bancorp, Inc. On September 17, 2021, Peoples completed its merger with Premier. Premier merged into Peoples, and Premier’s wholly-owned subsidiaries, Premier Bank, Inc., and Citizens Deposit Bank and Trust, Inc., which combined operated 48 branches in Kentucky, Maryland, Ohio, Virginia, West Virginia and Washington, D.C., merged into Peoples’ wholly-owned subsidiary, Peoples Bank. As consideration, Premier shareholders were paid 0.58 common shares of Peoples for each full common share of Premier that was owned at the acquisition date, resulting in the issuance of 8,589,685 common shares by Peoples, or $261.9 million. Peoples accounted for this transaction as a business combination under the acquisition method. Peoples completed the Premier Merger in an effort to diversify and expand its franchise, and further enhance its size and scale. Peoples believes the growth potential, and attractive market areas will benefit its future financial performance. Peoples recorded acquisition-related expenses of $0.7 million related to the Premier Merger during 2022, which included $0.2 million in professional fees. The following table provides the purchase price calculation as of the date of the Premier Merger, and the assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) Unpaid Principal Balance Fair Value Premier common shares 14,811,200 Number of common shares of Peoples issued for each common share of Premier 0.58 Price per Peoples common share, based at closing date $ 30.49 Common share consideration 261,899 Cash paid in lieu of fractional common shares 25 Total consideration $ 261,924 Net assets at fair value Assets Cash and due from banks $ 248,360 Interest-bearing deposits in other banks 1,025 Total cash and cash equivalents 249,385 Available-for-sale investment securities 551,953 Other investment securities 4,159 Total investment securities 556,112 Loans: Construction 97,262 96,025 Commercial real estate, other 544,950 534,869 Commercial and industrial 132,293 131,979 Residential real estate 332,269 331,544 Home equity lines of credit 46,969 45,910 Consumer 20,961 21,513 Total loans 1,174,704 1,161,840 Allowance for credit losses (on PCD Loans) (15,513) Net loans 1,146,327 Bank premises and equipment 30,098 Other intangible assets 4,233 OREO 11,081 (Dollars in thousands) Unpaid Principal Balance Fair Value Other assets 26,982 Total assets $ 2,024,218 Liabilities Deposits: Non-interest-bearing $ 733,157 Interest-bearing 1,018,387 Total deposits 1,751,544 Short-term borrowings 63,807 Long-term borrowings 6,070 Accrued expenses and other liabilities 7,813 Total liabilities 1,829,234 Net assets 194,984 Goodwill $ 66,940 The recorded goodwill associated with the Premier Merger is related to expected synergies and operational efficiencies to be gained from the combination of Premier with Peoples' operations. None of the goodwill associated with the Premier Merger is expected to be deductible for tax purposes. The geographic locations of Premier will allow Peoples to continue to grow the loan and deposit portfolios, while also increasing Peoples' ability to penetrate the new markets with wealth management and insurance services, which should benefit Peoples in future periods. Additional information regarding other intangibles recognized in the acquisition can be found in "Note 7 Goodwill and Other Intangible Assets." The following is a description of the methods used to determine the fair values of significant assets and liabilities presented above. Cash and Cash Equivalents: Cash and cash equivalents include cash on hand, balances due from other banks, interest-bearing deposits in other banks, federal funds sold and other short-term investments with original maturities of ninety days or less. The carrying amount for cash and due from banks is a reasonable estimate of fair value. Investment Securities: Fair values for investment securities are based on quoted market prices, where available. If quoted market prices are not available, fair value estimates are based on observable inputs including quoted market prices for similar instruments, quoted market prices that are not in an active market or other inputs that are observable in the market. In the absence of observable inputs, fair value is estimated based on pricing models and/or discounted cash flow methodologies. Loans: Fair values for loans were based on a discounted cash flow methodology that considered factors including the type of loan, related collateral, classification status, fixed or variable interest rate, term, amortization status and current discount rates. Loans were grouped together according to similar characteristics when applying various valuation techniques. The discount rates used for loans were based on current market rates at the acquisition date for new originations for comparable loans and included adjustments for liquidity. The discount rates did not include a factor for credit losses as that had been included as a reduction to the estimated cash flows. Fair values for loans that were individually assessed were based on third-party valuations. Bank Premises and Equipment: The fair values of premises were based on a market approach, with third-party appraisals and broker opinions of value obtained for land, office and branch space. OREO: The fair values of OREO were based on a market approach, with third-party appraisals and broker opinions of value obtained for land and buildings. Customer Deposit Intangible: The customer deposit intangible represented the low cost of funding acquired core deposits provide relative to a marginal cost of funds. The fair value was estimated based on a discounted cash flow methodology that gave consideration to expected customer attrition rates, the net maintenance cost of the deposit base, the alternative cost of funds, and the interest costs associated with customer deposits. The customer deposit intangible is being amortized over 10 years based upon the period over which estimated economic benefits are estimated to be received. Deposits: The fair values used for the demand and savings deposits equaled the amount payable on demand at the acquisition date. The fair values for time deposits were estimated using a discounted cash flow calculation that applied interest rates being offered at the acquisition date to the contractual interest rates on such time deposits. Borrowings: Short-term borrowings consisted of overnight repurchase agreements, and given their short-term nature book value approximated fair value. The fair values of long-term borrowings, including trust preferred securities, were estimated using discounted cash flow analyses, based on incremental borrowing rates at acquisition date for similar types of instruments. Loans acquired by Peoples in a business combination that have evidence of more than insignificant credit deterioration, which includes loans that Peoples believes it is probable that Peoples will be unable to collect all contractually required payments, are considered PCD loans. Acquired PCD loans are reported net of the unamortized fair value adjustment. These loans are recorded at the purchase price, and an allowance for credit losses is determined based upon discrete credit marks, along with discounted cash flow models based upon similar pools of loans, using a similar methodology as for other loans. The following table details the fair value adjustment for acquired PCD loans as of the acquisition date: (Dollars in thousands) Par Value Allowance for Credit Losses Non-Credit (Discount) Premium Fair Value PCD loans Construction $ 20,143 $ (2,005) $ (214) $ 17,924 Commercial real estate, other 97,193 (9,053) (2,123) 86,017 Commercial and industrial 9,948 (3,630) 113 6,431 Residential real estate 18,349 (696) (251) 17,402 Home equity lines of credit 1,291 (55) (72) 1,164 Consumer 929 (74) 37 892 Fair value $ 147,853 $ (15,513) $ (2,510) $ 129,830 NS Leasing, LLC Peoples Bank entered into an Asset Purchase Agreement, dated March 24, 2021 with NSL, which is headquartered in Burlington, Vermont, and does business as “North Star Leasing”. The transaction closed after the end of business on March 31, 2021 and Peoples Bank began operating the acquired business as a division of Peoples Bank on April 1, 2021. Peoples Bank acquired assets comprising NSL’s equipment finance business and assumed from NSL certain specified liabilities for total cash consideration of $116.5 million, plus a potential earnout payment to NSL of up to $3.1 million. Peoples Bank acquired $83.3 million in leases and satisfied, on behalf of NSL, certain third-party debt in the amount of $69.1 million. NSL underwrites, originates and services equipment leases and equipment financing agreements to businesses throughout the U.S. Peoples recorded goodwill in the amount of $24.7 million and other intangibles of $14.0 million, which included a customer relationship intangible, trade name intangible and non-compete agreements related to this transaction. Peoples also recorded and paid an earn-out provision of approximately $3.0 million. Peoples accounted for this transaction as a business combination under the acquisition method. The recorded goodwill associated with the NSL acquisition is related to expected synergies and operational efficiencies to be gained from the combination of NSL with Peoples' operations. The employees retained from the NSL acquisition should allow Peoples to continue to grow the lease portfolio, along with Peoples' resources, and should benefit Peoples in future periods. During Peoples' evaluation of intangible assets, it was determined that an assembled workforce intangible asset was not separately recognizable and was included in goodwill. The following table provides the purchase price calculation as of the date of acquisition for NSL and the assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) Total purchase price (a) $ 118,846 Net assets at fair value Assets Cash and due from banks $ 216 Net leases 82,833 Bank premises and equipment, net of accumulated depreciation 470 Other intangible assets 14,009 Other assets 1,225 Total assets $ 98,753 Liabilities Accrued expenses and other liabilities $ 4,627 Total liabilities $ 4,627 Net assets $ 94,126 Goodwill $ 24,720 (a) Includes estimated contingent consideration related to the bonus earn-out provision of $2.3 million. Peoples recorded an additional $0.7 million in non-interest expense in 2021 related to an update to the estimated earn-out provision. Leases acquired by Peoples in a business combination that have evidence of more than insignificant credit deterioration, which includes leases that Peoples believes it is probable that Peoples will be unable to collect all contractually required payments, are considered PCD leases. These leases are recorded at the purchase price, and an allowance for credit losses is determined using the same methodology as for other leases. Acquired PCD leases are reported net of the unamortized fair value adjustment. The following table details the fair value adjustment for acquired PCD leases as of the acquisition date: (Dollars in thousands) NSL PCD leases Par value $ 5,248 Allowance for credit losses (493) Non-credit premium 85 Fair value $ 4,840

Parent Company Only Financial I

Parent Company Only Financial Information	12 Months Ended
	Dec. 31, 2022
Parent Company Only Financial Information [Abstract]
Parent Company Only Financial Information	Parent Company Only Financial Information Condensed Balance Sheets December 31, (Dollars in thousands) 2022 2021 Assets: Cash and due from other banks $ 50 $ 50 Interest-bearing deposits in subsidiary bank 14,961 15,202 Due from subsidiary bank 1,353 547 Other investment securities 234 220 Investments in subsidiaries: Bank 774,294 834,037 Non-bank 11,944 12,278 Other assets 2,877 5,248 Total assets $ 805,713 $ 867,582 Liabilities: Accrued expenses and other liabilities $ 3,336 $ 5,660 Dividends payable 781 767 Mandatorily redeemable capital securities of subsidiary trusts 16,268 16,130 Total liabilities 20,385 22,557 Total stockholders' equity 785,328 845,025 Total liabilities and stockholders' equity $ 805,713 $ 867,582 Condensed Statements of Income Year Ended December 31, (Dollars in thousands) 2022 2021 2020 Income: Dividends from subsidiary bank $ 52,000 $ 29,000 $ 49,000 Dividends from non-bank subsidiary 1,860 1,750 — Interest and other income 39 73 16 Total income 53,899 30,823 49,016 Expense: Trust preferred securities expense 744 367 373 Intercompany management fees 1,379 1,303 1,369 Other expense 6,539 5,675 5,376 Total expense 8,662 7,345 7,118 Income before federal income taxes and equity in undistributed earnings of subsidiaries 45,237 23,478 41,898 Applicable income tax expense (1,979) (1,295) (1,128) Equity in (excess dividends from) undistributed earnings of subsidiaries 54,076 22,782 (8,259) Net income $ 101,292 $ 47,555 $ 34,767 Statements of Cash Flows Year Ended December 31, (Dollars in thousands) 2022 2021 2020 Operating activities Net income $ 101,292 $ 47,555 $ 34,767 Adjustments to reconcile net income to cash provided by operations: Depreciation, amortization and accretion, net 138 6,224 161 (Equity in) excess dividends from undistributed earnings of subsidiaries (54,076) (22,782) 8,259 Gain on investment securities — — (8) Other, net 5,008 3,930 8,492 Net cash provided by operating activities 52,362 34,927 51,671 Investing activities Net proceeds from sales and maturities of investment securities — 10 10 Investment in subsidiaries (13,084) (16,282) (35,238) Decrease in receivable from subsidiary 12,279 16,344 34,719 Business combinations, net of cash received (1,239) (710) — Other, net (262) (1,998) (76) Net cash used in investing activities (2,306) (2,636) (585) Financing activities Purchase of treasury stock (9,152) (1,306) (30,409) Proceeds from issuance of common shares 1,226 906 594 Cash dividends paid (42,371) (31,002) (27,052) Net cash used in financing activities (50,297) (31,402) (56,867) Net (decrease) increase in cash and cash equivalents (241) 889 (5,781) Cash and cash equivalents at the beginning of year 15,252 14,363 20,144 Cash and cash equivalents at the end of year $ 15,011 $ 15,252 $ 14,363 Supplemental cash flow information: Interest paid $ 663 $ 331 $ 385

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	The accounting and reporting policies of Peoples Bancorp Inc. and subsidiaries ("Peoples" refers to Peoples Bancorp Inc. and its consolidated subsidiaries collectively, except where the context indicates the reference relates solely to Peoples Bancorp Inc.) conform to US GAAP and to general practices within the banking industry. The preparation of the financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Business Combinations	Business Combinations: Business combinations are accounted for using the acquisition method of accounting. Under this accounting method, the acquired company's net assets are recorded at fair value on the date of acquisition, and the results of operations of the acquired company are combined with those of Peoples from the acquisition date forward. Costs related to the acquisition are expensed as incurred. The purchase price paid over the fair value of the net assets acquired, including intangible assets with finite lives, is recorded as goodwill.
Consolidation	Consolidation: Peoples' Consolidated Financial Statements include subsidiaries in which Peoples has a controlling financial interest, principally defined as owning a voting interest of greater than 50%. The Consolidated Financial Statements include the accounts of Peoples and its consolidated subsidiaries, Peoples Bank (along with its wholly-owned subsidiaries), Peoples Investment Company, Peoples Risk Management, Inc., NB&T Statutory Trust III, and FNB Capital Trust One, for which Peoples holds all of the common securities. All intercompany accounts and transactions have been eliminated.
Fair Value Measurements	Fair Value Measurements: The measurement of fair value under US GAAP uses a hierarchy intended to maximize the use of observable inputs and minimize the use of unobservable inputs. This hierarchy uses three levels of inputs to measure the fair value of assets and liabilities as follows: Level 1: Quoted prices in active exchange markets for identical assets or liabilities; also includes certain U.S. Treasury and other U.S. government and agency securities actively traded in over-the-counter markets. Level 2: Observable inputs other than Level 1 including quoted prices for similar assets or liabilities, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data; also includes derivative financial instruments whose value is determined using a pricing model with observable market inputs or can be derived principally from, or corroborated by, observable market data. This category generally includes certain U.S. government and agency securities, corporate debt securities, derivative instruments, and residential mortgage loans held for sale. Level 3: Unobservable inputs supported by little or no market activity for financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as financial instruments for which the determination of fair value requires significant management judgment or estimation; also includes observable inputs for single dealer nonbinding quotes not corroborated by observable market data. This category generally includes certain private equity investments, retained interests from securitizations, and certain collateralized debt obligations.
Operating Segments	Operating Segments: Peoples' business activities are currently confined to one reportable operating segment, which is community banking. As a community banking entity, Peoples offers its customers a full range of products including a complete line of banking, leasing, insurance, investment and trust solutions.
Cash and Cash Equivalents	Cash and Cash Equivalents: Cash and cash equivalents include cash on hand, balances due from other banks, interest-bearing deposits in other banks, federal funds sold and other short-term investments with original maturities of ninety days or less. Peoples had no restricted funds at December 31, 2022 or December 31, 2021 held in interest-bearing deposits in other banks, which were being used as collateral and not available for withdrawal. During 2021, Peoples began collateralizing its hedging relationships with investment securities in lieu of cash and cash equivalents held in other banks.
Investment Securities	Investment Securities: Investment securities are recorded initially at cost, which includes premiums and discounts if purchased at other than par or face value. Peoples amortizes premiums and accretes discounts as an adjustment to interest income on a level yield basis. The cost of investment securities sold, excluding equity investment securities, and any resulting gain or loss, is based on the specific identification method and recognized as of the trade date. The cost of equity investment securities is based on the weighted-average method. Peoples determines the appropriate classification of investment securities at the time of purchase. Held-to-maturity securities are those securities that Peoples has the positive intent and ability to hold to maturity and are recorded at amortized cost. Available-for-sale securities are those securities that would be available to be sold in the future in response to Peoples' liquidity needs, changes in market interest rates, and asset-liability management strategies, among other considerations. Available-for-sale securities are reported at fair value, with unrealized gains and losses reported in total stockholders' equity as a separate component of AOCI, net of applicable deferred income taxes. Certain restricted equity investment securities that do not have readily determinable fair values and for which Peoples does not exercise significant influence, are carried at cost. These cost method securities are reported in "Other investment securities" on the Consolidated Balance Sheets and consist primarily of shares of the Federal Home Loan Bank of Cincinnati (the "FHLB") and the Federal Reserve Bank of Cleveland (the "FRB"). Peoples evaluates available-for-sale investment securities on a quarterly basis to determine how much, if any, allowance for credit losses is required. Peoples reviews available-for-sale investment securities at an unrealized loss position, with potential exposure to a credit event (which excludes U.S. government and U.S. government sponsored agency securities) to determine if the unrealized loss was credit-related. An allowance for credit losses is recorded to the extent that the unrealized loss was credit-related and likely to be permanent. Peoples evaluates held-to-maturity investment securities on a quarterly basis in determining an allowance for credit losses. Peoples has determined that the loss given default for U.S. government sponsored enterprise investment securities is zero, due to the fact that it is unlikely the ultimate guarantor (the U.S. government) would not perform on its implicit guarantee in the event of default. The remaining securities are included in the calculation of the allowance for credit losses for held-to-maturity investment securities.
Loans and Leases and Loans Held-For-Sale	Loans and Leases: Loans originated by Peoples that Peoples has the positive intent and ability to hold for the foreseeable future or to maturity or payoff are reported at the principal balance outstanding, net of deferred loan fees and costs, purchase premiums and discounts, charge-offs and an allowance for credit losses. Leases originated by Peoples are reported at the net investment of the lease, net of initial direct costs, charge-offs and an allowance for credit losses. Throughout this Form 10-K, loans and leases are referred to as "total loans" and "loans held for investment". The foreseeable future is based upon current market conditions and business strategies, as well as balance sheet management and liquidity. As the conditions change, so may management's view of the foreseeable future. Peoples considers loans and leases past due if any required principal and interest payments have not been received as of the date such payments were required to be made under the terms of the loan or lease agreement. Upon detection of the reduced ability of a borrower or lessee to meet cash flow obligations, consumer and residential real estate loans and leases are typically charged down to the net realizable value, with the residual balance placed on nonaccrual status. Loans and leases deemed to be uncollectable are charged against the allowance for credit losses, while recoveries of previously charged off amounts are credited to the allowance for credit losses. Loans and leases acquired in a business combination that have evidence of more than insignificant credit deterioration, which includes loans and leases that Peoples believes it is probable that Peoples will be unable to collect all contractually required payments, are considered PCD loans or leases. These loans are recorded at the purchase price, and an allowance for credit losses is determined using the same methodology as for other loans or leases. The initial allowance for credit losses determined on a collective basis is allocated to individual loans or leases. The total of the purchase price and allowance for credit losses is the net amount expected to be collected for PCD loans or leases. The variance between the initial amortized cost basis and the par value of the loan is considered an interest premium or discount, which is amortized or accreted into interest income on a level yield method over the life of the loan. The variance between the initial amortized cost basis and the fair value of a lease is considered an interest premium or discount, which is amortized or accreted into interest income on a level yield method over the life of the lease. Loans and leases acquired in a business combination that are not considered PCD are recorded at fair value and the difference between the acquisition date fair value and the contractual amounts due at the acquisition date represents the discount or premium to each loan's or lease's cost basis and is accreted or amortized to interest income over the loan's or lease's remaining life using the level yield method. At the acquisition date, Peoples records provision for credit losses to establish the allowance for credit losses for these acquired loans and leases. Loans Held for Sale: Loans originated by Peoples and intended to be sold in the secondary market, generally one-to-four family residential loans, are carried at the lower of cost or estimated fair value determined on an aggregate basis. Gains and losses on sales of loans held for sale are included in mortgage banking income.
Allowance for Credit Losses	Allowance for Credit Losses: The allowance for credit losses includes both the allowance for credit losses for loans and leases and the allowance for credit losses on lending-related commitments. The allowance for credit losses is a valuation reserve established through the provision for credit losses charged against income. The allowance for credit losses is estimated by management using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a pool basis, with loans collectively evaluated when similar risk characteristics exist. Peoples evaluated risk characteristics, including but not limited to: internal or third-party credit scores or credit ratings, risk ratings or classifications, financial asset type, collateral type, size, effective interest rate, term, geographical location, industry of the borrower, vintage, historical or credit loss patterns and reasonable and supportable forecast periods. Peoples identified 19 segments for which it believes there are similar risk characteristics and utilized a discounted cash flow methodology in determining an allowance for credit losses for each segment. Peoples' estimates the allowance for credit losses using relevant available information, from both internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. In management's estimation of expected credit losses, Peoples' uses a one year reasonable and supportable period across all segments. In estimating credit losses, Peoples uses a loss driver method, which analyzes one or more economic variables to the change in default rate using a regression analysis. Variables that had a strong correlation were selected as economic factors, or variables, for the model. If a single variable was not found to be strongly correlated, additional variables were included. Peoples utilizes the U.S. unemployment, Ohio unemployment, and Ohio Gross Domestic Product as economic factors in modeling. Probabilities of default are used in the loss driver model, and are analyzed on a quarterly basis to assess reasonableness. Peoples measured loss given default at the segment level due to statistical considerations using historical information. Peoples also utilized peer data due to somewhat volatile loss history in certain segments to normalize default curves, which provided more meaningful results. Peoples modeled amortizing loans with a prepayment rate annualized to one year. The prepayment rates were calculated using Peoples' historical data, at the segment level. Peoples models extensions of contractual terms in the following situations: when a loan is 60 days or more past due, when a partial charge-off has occurred, if the loan is in nonaccrual status, if a troubled debt restructuring ("TDR") has occurred, or if the loan is grade 5 or higher. When any of these criteria are met and the loan matures within the next 12 months, the loan will be modeled to extend for an additional 12 months. In general, Peoples completes a quarterly evaluation based on several qualitative factors to determine if there should be adjustments made to the allowance for credit losses. These factors include economic conditions, collateral, concentrations, troubled assets, Peoples' loss trends, peer loss trends, delinquency trends, portfolio composition and loan growth, underwriting, and certain other risks. The allowance for credit losses related to specific loans was based on management's estimate of potential losses on impaired loans as determined by (1) the present value of expected future cash flows, (2) the fair value of collateral if the loan is determined to be collateral dependent, or (3) the loan's observable market price. Peoples categorized loans involving commercial borrowers into risk categories based upon an established grading matrix. This system was used to manage the risk within Peoples' commercial lending activities, evaluate changes in the overall credit quality of the loan portfolio and evaluate the appropriateness of the allowance for credit losses. Loan grades are assigned at the time a new loan or lending commitment is extended by Peoples and may be changed at any time when circumstances warrant. Commercial loans to borrowers with an aggregate unpaid principal balance in excess of $1.0 million are reviewed at least on an annual basis for possible credit deterioration. Commercial leases, as well as loan relationships whose aggregate credit exposure to Peoples is equal to or less than $1.0 million are reviewed at least on an event driven basis. Triggers for review include knowledge of adverse events affecting the borrower's business, receipt of financial statements indicating deteriorating credit quality or other similar events. Adversely classified loans are reviewed on a quarterly basis. The primary factors considered when assigning a risk grade to a loan include (1) reliability and sustainability of the primary source of repayment, (2) past, present and projected financial condition of the borrower, and (3) current economic and industry conditions. Other factors that could influence the risk grade assigned include the type and quality of collateral and the strength of any guarantors. The primary source of repayment for commercial real estate loans and commercial and industrial loans is normally the operating cash flow of the business available to repay debt. Management's analysis of operating cash flow for commercial real estate loans secured by non-owner occupied properties takes into account factors such as rent rolls and vacancy statistics. Management's analysis of operating cash flow for commercial real estate loans secured by owner occupied properties and all commercial and industrial loans considers the profitability, liquidity and leverage of the business. The evaluation of construction loans includes consideration of the borrower's ability to complete construction within the established budget. The primary factors considered when classifying residential real estate loans, home equity lines of credit and consumer loans include the loan's past due status and any declaration of bankruptcy by the borrower(s). The classification of residential real estate loans and home equity lines of credit also takes into consideration the current value of the underlying collateral. Peoples has elected the practical expedient not to measure allowance for credit losses for accrued interest receivables. Unfunded Commitments: Peoples also completes a quarterly evaluation for unfunded commitments for loans that are not unconditionally cancellable, which includes construction loans, floor plan lines of credit, home equity lines of credit, other credit lines and letters of credit. Peoples performed a study to determine the historical funding rates of unadvanced portions of loans, and applied these funding rates to the unfunded commitments at period end. The loss rates, including qualitative factors, in determining the allowance for credit losses were applied at the segment level to the unfunded commitment amount to determine the allowance for credit loss liability for unfunded commitments. Troubled Debt Restructuring ("TDR"): The restructuring of a loan is considered a TDR if both (1) the borrower is experiencing financial difficulties and (2) the creditor has granted a concession. Loans acquired that are restructured after acquisition are not considered TDRs if the loans evidenced credit deterioration as of the acquisition date and are accounted for in pools of PCD loans. In assessing whether or not a borrower is experiencing financial difficulties, Peoples considers information currently available regarding the financial condition of the borrower. This information includes, but is not limited to, whether (1) the borrower is currently in payment default on any of the borrower's debt; (2) a payment default is probable in the foreseeable future without the modification; (3) the borrower has declared or is in the process of declaring bankruptcy; and (4) the borrower's projected cash flow is insufficient to satisfy contractual payments due under the original terms of the loan without a modification. Peoples considers all aspects of the modification to loan terms to determine whether or not a concession has been granted to the borrower. Key factors considered by Peoples include the borrower's ability to access funds at a market rate for loans with similar risk characteristics, the significance of the modification relative to the unpaid principal loan balance or collateral value underlying the loan, and the significance of a delay in the timing of payments relative to the original contractual terms of the loan. The most common concessions granted by Peoples generally include one or more modifications to the terms of the loan, such as (1) a reduction in the interest rate for the remaining life of the loan, (2) an extension of the maturity date at an interest rate lower than the current market rate for a new loan with similar risk, (3) a temporary period of interest-only payments, and (4) a reduction in the contractual payment amount for either a short period or the remaining term of the loan. All TDRs are evaluated individually to determine if a write-down is required and if they should be on accrual or nonaccrual status. On March 22, 2020, federal and state banking regulators issued a joint statement, with which the FASB concurred as to the approach, regarding accounting for loan modifications for borrowers affected by COVID-19, based on provisions included in the CARES Act. In this guidance, short-term modifications, made on a good faith basis in response to COVID-19, to borrowers who were current prior to any relief, are not considered TDRs. This includes short-term modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment which are insignificant. Under the guidance, borrowers that are considered current are those that were less than 30 days past due on their contractual payments at the time a modification program was implemented. In addition, modification or deferral programs mandated by the U.S. federal government or any state government related to COVID-19 are not in the scope of accounting for TDRs defined in ASC 310-40. Based on this guidance, Peoples does not classify COVID-19 loan modifications as TDRs. On August 3, 2020, federal and state banking regulators issued a joint statement, encouraging financial institutions to consider prudent accommodation options to mitigate losses for the borrower and financial institution beyond the initial accommodation period. Under this guidance, institutions should also provide consumers with available options for repaying missed payments at the end of their accommodation to avoid delinquencies, as well as options for changes to terms to support sustainable and affordable payments for the long term. These considerations should also include prudent risk management practices at the financial institution based on the credit risk of the borrower. Peoples is actively working with its affected customers to address any further accommodation needs while carefully evaluating the associated credit risk of the borrowers. Nonaccrual Loans: Peoples discontinues the accrual of interest on a loan when conditions cause management to believe collection of all or any portion of the loan's contractual interest is doubtful. Such conditions may include the borrower being 90 days or more past due on any contractual payments, or current information regarding the borrower's financial condition and repayment ability. All unpaid accrued interest deemed uncollectable is reversed, which reduces Peoples' net interest income. Interest received on nonaccrual loans is included in income only if principal recovery is reasonably assured.
Bank Premises and Equipment	Bank Premises and Equipment: Bank premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the related assets owned. Major improvements to leased facilities are capitalized and included in bank premises at cost less accumulated depreciation, which is calculated on the straight-line method over the lesser of the remaining term for the leased facility or the estimated economic life of the improvement.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Goodwill represents the excess of the cost of an acquisition or business combination over the fair value of the net assets acquired in the acquisition or business combination. Goodwill is not amortized but is tested for impairment when indicators of impairment exist, or at least annually on October 1.
Servicing Rights	Servicing Rights: Servicing rights represent the right to service loans sold to third-party investors. Loans that are sold are primarily mortgage loans, but also include small business and agricultural loans. Servicing rights are recognized separately as a servicing asset whenever Peoples undertakes an obligation to service financial assets. Servicing rights are reported in other intangible assets on the Consolidated Balance Sheets. Serviced loans that have been completely sold are not included on the Consolidated Balance Sheets. Loan servicing income included in mortgage banking income includes servicing fees received from the third-party investors and certain charges collected from the borrowers.
Derivatives and Interest Rate Lock Commitments	Derivatives: Peoples enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known or expected cash amounts, the value of which is determined by interest rates. Peoples’ derivative financial instruments are used to manage differences in the amount, timing and duration of Peoples' known or expected cash receipts and its known or expected cash payments principally related to certain variable rate borrowings. Peoples also has interest rate derivative financial instruments that result from a service provided to certain qualifying customers and, therefore, are not used to manage interest rate risk in Peoples' assets or liabilities. Peoples manages a matched book with respect to customer-related derivative financial instruments in order to minimize its net risk exposure resulting from such transactions. Amounts reported in AOCI related to derivatives are reclassified to interest income or expense as interest payments are made or received on Peoples' variable-rate assets or liabilities. Peoples assesses the effectiveness of each hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged transaction. If the derivative financial instruments designated as cash flow hedges are deemed effective, changes in the fair value of each derivative financial instrument are reported in AOCI (outside of earnings), net of tax, and subsequently reclassified to earnings when the hedged transaction affects earnings. If the derivative financial instruments designated as cash flow hedges are deemed ineffective, changes in the fair value of the derivative financial instrument are recognized directly in earnings.
Investments in Affordable Housing Limited Partnerships	Investments in Affordable Housing Limited Partnerships: Investments in affordable housing consist of investments in limited partnerships that operate qualified affordable housing projects or that invest in other limited partnerships formed to operate affordable housing projects. These investments are considered variable interest entities for which Peoples is not the primary beneficiary. Peoples generally utilizes the effective yield method to account for these investments with the tax credits, net of the
Other Real Estate Owned ("OREO")	Other Real Estate Owned ("OREO"): OREO, included in "Other assets" on the Consolidated Balance Sheets, is comprised primarily of commercial and residential real estate properties acquired by Peoples in satisfaction of a loan. OREO obtained in satisfaction of a loan is recorded at the lower of cost or estimated fair value, less estimated costs to sell the property. Peoples had OREO totaling $8.9 million at December 31, 2022 and $9.5 million at December 31, 2021.
Securities Sold Under Agreements to Repurchase ("Repurchase Agreements")	Securities Sold Under Agreements to Repurchase ("Repurchase Agreements"): Peoples enters into Repurchase Agreements with customers and other financial services companies, which are considered financings. As such, these obligations are recorded as a liability on the Consolidated Balance Sheets and disclosed in "Note 9 Short-Term Borrowings" and "Note 10 Long-Term Borrowings," as appropriate. Securities pledged as collateral under Repurchase Agreements are included in investment securities on the Consolidated Balance Sheets and are disclosed in "Note 3 Investment Securities." The fair value of the collateral pledged to a third party is continually monitored and additional collateral is pledged or returned, as deemed appropriate.
Interest Income Recognition	Interest Income Recognition: Interest income on loans and investment securities is recognized by methods that result in level rates of return on principal amounts outstanding. This includes yield adjustments resulting from the amortization of premiums on investment securities, loan costs and premiums, and accretion of discounts on investment securities, loan fees and discounts. Loans that have been placed on nonaccrual, and are subsequently returned to accruing status, recognize interest income similar to other accruing loans once they return to accruing status. Prior accrued interest that was reversed when the loan was placed on nonaccrual is recognized when received, after all of the principal of the loan outstanding has been paid. Since mortgage-backed securities comprise a sizable portion of Peoples' investment portfolio, a significant increase in principal payments on those securities can impact interest income due to the corresponding acceleration of premium amortization or discount accretion.
Revenue Recognition	Revenue Recognition: Peoples recognizes revenues as they are earned based on contractual terms, or as services are provided and collectability is reasonably assured. Peoples’ principal source of revenue is interest income, which is recognized on an accrual basis primarily according to the terms in written contracts, such as loan agreements or securities contracts. Estimates of variable consideration are included in revenue to the extent that it is probable that a significant reversal of cumulative revenue will not occur, once the uncertainty is resolved. Peoples' contracts with customers are short-term in nature, and were recognized under the following revenue streams: Electronic Banking Income: Electronic banking income consists of two revenue streams related to interchange income, and promotional and usage income. Peoples recognizes interchange income over time, on a monthly basis, which is based on the transactional volume of debit card activity completed by its customers during the month in which income is recognized. Peoples is obligated, based on its contracts with third parties, to meet certain volumes of debit card activities, which are performed by Peoples' customers, over a certain period of time. Interchange income is variable as it is based on the transaction volume of debit card activity completed by Peoples' customers. Peoples estimates the variable consideration based upon the most likely amount method, and does not expect or anticipate a significant reversal of revenue in future periods. Payment is due for all PIN transactions from the vendor within one month of the completed customer debit card activity, while all other interchange transaction fees are earned and recorded on a daily basis. Peoples has elected to apply a practical expedient of right to invoice when recognizing interchange income, as Peoples has fulfilled the required performance obligations, the vendor has consumed the service, and Peoples has a right to the related income. Peoples also recognizes promotional and usage income over time, on a monthly basis, which is related to branding of debit cards and promotion or use of certain services provided by third-party vendors. Peoples is obligated to brand its debit cards in a certain manner, and promote and use services provided by third-party vendors. Promotional and usage income is variable as it is based on certain metrics achieved for promotion and usage of services provided by the third-party vendors. Peoples estimates the variable consideration based upon the most likely amount method, and does not expect or anticipate a significant reversal of revenue in future periods. Payment is due from the third-party vendors within 45 days of the monthly fulfillment of Peoples' performance obligation. Peoples has elected to apply a practical expedient of right to invoice when recognizing promotional and usage income, as Peoples has fulfilled the required performance obligations, the vendor has consumed the service, and Peoples has a right to the related income. Trust and Investment Income: Trust and investment income consists of revenue from fiduciary and brokerage activities, which includes fees for services such as asset management, record keeping, retirement services and estate management, and investment commissions and fees related to the sale of investments. Trust and investment income is recognized over time, which reflects the duration of the contract period for which services have been provided. Trust and investment income is variable as it is based on the value of assets under administration and management, and specific transactions. Peoples estimates the variable consideration based upon the most likely amount method, and does not expect or anticipate a significant reversal of revenue in future periods. Payment is due from the customer when billed, which is typically a monthly or quarterly billing for services rendered in the most recent period, for which the performance obligation has been satisfied. Peoples has elected to apply a practical expedient of right to invoice when recognizing trust and investment income, as Peoples has fulfilled the performance obligation, the customer has consumed the service, and Peoples has a right to the related income. Peoples has also elected to apply a practical expedient related to capitalizable costs, which are the commissions paid to financial advisors, and will expense these commissions paid to financial advisors as incurred, as these costs are related to the trust and investment income and would have been amortized within one year or less if they had been capitalized, the same period over which the income was earned. Insurance Income: Insurance income generally consists of commissions and fees from the sale of insurance policies, fees related to third-party administration services and performance-based commissions from insurance companies. Peoples recognizes commission income from the sale of insurance policies when it acts as an agent between the insurance carrier and policyholder, arranging for the insurance carrier to provide policies to policyholders, and acts on behalf of the insurance carrier by providing customer service to the policyholders during the respective policy periods. Commission income is recognized over time, using the output method of time elapsed, which corresponds with the underlying insurance policy period, during which Peoples is obligated to perform under contract with the insurance carrier. Commission income is variable, as it is comprised of a certain percentage of the underlying policy premium. Peoples estimates the variable consideration based upon the "most likely amount" method, and does not expect or anticipate a significant reversal of revenue in future periods, based upon historical experience. Payment is due from the insurance carrier for commission income once the insurance policy has been sold. Peoples has elected to apply a practical expedient related to capitalizable costs, which are the commissions paid to insurance producers, and will expense these commissions paid to insurance producers as incurred, as these costs are related to the commission income and would have been amortized within one year or less if they had been capitalized, the same period over which the commission income was earned. Fees related to third-party administration services performed are recognized over time, during the period in which services have been provided, and are recognized monthly in the month the services were performed. Performance-based commissions from insurance companies are recognized at a point in time, when received, and no contingencies remain. Deposit Account Service Charges: Deposit account service charges consist of two revenue streams related to ongoing maintenance fees for deposit accounts and transactional-based fees. Ongoing maintenance fees are recognized on a monthly basis, generally with the monthly period beginning on the day of the month on which the account was opened. Ongoing maintenance fee income is variable as these fees can be reduced if a customer meets certain qualifying metrics. Peoples estimates the variable consideration based upon the most likely amount method, and does not expect or anticipate a significant reversal of revenue in future periods. For accounts that are assessed maintenance fees through the account analysis process, payment is due from the customer within one month after the monthly period in which the account activity occurred. For all other accounts, monthly maintenance fees are assessed to the account on the last day of the monthly period. Peoples has elected to apply a practical expedient of right to invoice when recognizing ongoing maintenance fees for deposit accounts, as Peoples has fulfilled the required performance obligations, the customer has consumed the service, and Peoples has a right to the related income. Transactional-based fees are recognized at a point in time, which is at the completion of the relevant transaction. Peoples is obligated to perform certain transactions as requested by its consumer and business deposit account customers, which are outside of the normal maintenance requirements. Transactional-based fee income is variable as these fees are directly related to a service request from the customer. Peoples estimates the variable consideration based upon the most likely amount method, and does not expect or anticipate a significant reversal of revenue in future periods. Payment is due from the customer at the time of completion of the requested transaction. Lease income: Peoples acquired its lease portfolio in the NSL and Vantage acquisitions. Lease income presented in "Non-interest income" consists of gains or losses, including residual asset gains and losses, on (i) the termination of leases, (ii) syndicated leases, and (iii) other fees. Gains on the early termination of leases are recognized at a point in time, which is at the completion of the relevant transaction. Gains on syndicated leases and other fees are recognized over time on a monthly basis. Other Non-Interest Income: Other non-interest income includes certain revenues that are transactional-based, such as wire transfer fees, money order fees and other ancillary fees or services. These transactional-based fees are recognized as income at a point in time, at the completion of the relevant transaction. Transactional-based fee income is variable as these fees are directly related to a service request from the customer. Peoples estimates the variable consideration based upon the most likely amount method, and does not expect or anticipate a significant reversal of revenue in future periods. Payment is due from the customer at the time of completion of the requested transaction.
Stock-Based Compensation	Stock-Based Compensation: Stock-based compensation for restricted common share awards is measured at the fair value of these awards on their grant date. Stock-based compensation is recognized over the restriction period for restricted common share awards. Only the expense for the portion of the awards expected to vest is recognized. For service-based awards, stock-based compensation for awards granted to employees who are eligible for retirement is recognized on the date the employee is first eligible to retire.
Advertising Costs	Advertising Costs: Advertising costs are expensed as incurred.
Income Taxes	Income Taxes: Peoples and its subsidiaries file a consolidated federal income tax return. Deferred income tax assets and liabilities are provided as temporary differences between the tax basis of an asset or liability and its reported amount in the Consolidated Financial Statements at the statutory federal corporate income tax rate. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. A tax position is initially recognized in the financial statements when it is more-likely-than-not the position will be sustained upon examination by the tax authorities. Such tax positions are initially and subsequently measured as the largest amount of tax benefit that is greater than 50% likely of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and all relevant facts. Penalties and interest incurred under the applicable tax law are classified as income tax expense. The amounts of Peoples' uncertain income tax positions and unrecognized benefits are disclosed in "Note 13 Income Taxes."
Earnings per Share ("EPS")	Earnings per Share ("EPS"): Basic EPS and diluted EPS are calculated using the two-class method since Peoples has issued share-based payment awards considered participating securities because they entitle holders the rights to dividends during the vesting term. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Basic EPS is computed by dividing net earnings allocated to common shareholders by the weighted-average number of common shares outstanding. Diluted EPS is computed by dividing net earnings allocated to common shareholders by the weighted-average number of common shares outstanding adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares include non-vested restricted common shares using the treasury stock method.
New Accounting Pronouncements	New Accounting Pronouncements: From time to time, new accounting pronouncements are issued by the FASB or other standard setting bodies that are adopted by Peoples as of the required effective dates. Unless otherwise discussed, management believes the impact of any recently issued standards, including those issued but not yet effective, will not have a material impact on Peoples' financial statements taken as a whole. ASU 2020-04 - Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This guidance provides optional expedients and exceptions for applying US GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. This guidance was further updated by ASU 2021-01. This update was effective as of March 12, 2020 through December 31, 2022. The FASB further updated the guidance with ASU 2022-06, which deferred the sunset date of ASC Topic 848, Reference Rate Reform (Topic 848) from December 31, 2022 to December 31, 2024. This ASU was early adopted by Peoples as of September 30, 2021, and did not have a significant impact on Peoples' Consolidated Financial Statements, but is expected to reduce the accounting burden of assessing contracts impacted by reference rate reform. Peoples established a working group, consisting of key stakeholders from throughout the company, to monitor developments relating to LIBOR changes and to guide the transition. This team has worked to successfully ensure that technology systems are prepared for the transition, loan documents that reference LIBOR-based rates have been appropriately amended to reference other methods of interest rate determinations and internal and external stakeholders have been apprised of the transition. Based on the transition progress to date, Peoples ceased originating LIBOR-based products and began originating SOFR indexed products. Peoples will continue to transition all remaining LIBOR-based products to SOFR-based products. Peoples will also continue to evaluate the transition process and align its trajectory with regulatory guidelines regarding the cessation of LIBOR as well as monitor new developments for transitioning to alternative reference rates, if necessary and as needed.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets Measure at Fair Value Recurring	The following table provides the fair value for assets and liabilities required to be measured and reported at fair value on a recurring basis on the Consolidated Balance Sheets by level in the fair value hierarchy. At December 31, 2022 and December 31, 2021, there were no assets and liabilities measured on a recurring basis that were considered Level 3 measurements. Recurring Fair Value Measurements at Reporting Date December 31, 2022 December 31, 2021 (Dollars in thousands) Level 1 Level 2 Level 1 Level 2 Assets: Available-for-sale investment securities: Obligations of: U.S. Treasury and government agencies $ 152,422 $ — $ 35,604 $ — U.S. government sponsored agencies — 88,115 — 81,739 States and political subdivisions — 225,882 — 259,319 Residential mortgage-backed securities — 604,653 — 828,517 Commercial mortgage-backed securities — 50,049 — 63,519 Bank-issued trust preferred securities — 10,278 — 6,795 Total available-for-sale securities 152,422 978,977 35,604 1,239,889 Equity investment securities (a) 147 199 160 184 Derivative assets (b) — 34,123 — 12,163 Liabilities: Derivative liabilities (c) $ — $ 28,529 $ — $ 17,183 (a) Included in "Other investment securities" on the Consolidated Balance Sheets. For additional information, see "Note 3 Investment Securities." (b) Included in " Other assets (c) Included in " Accrued expenses and other liabilities
Schedule of Fair Value Measurements, Nonrecurring	The following table provides the fair value for each class of assets and liabilities required to be measured and reported at fair value on a non-recurring basis on the Consolidated Balance Sheets by level in the fair value hierarchy. At December 31, 2022 and December 31, 2021, there were no assets and liabilities measured on a non-recurring basis that were considered Level 1 measurements. Non-Recurring Fair Value Measurements at Reporting Date December 31, 2022 December 31, 2021 (Dollars in thousands) Level 2 Level 3 Level 2 Level 3 Collateral dependent loans $ — $ 10,354 $ — $ 430 Loans held for sale (a) 1,254 — 418 — Other real estate owned ("OREO") — 55 — 87 Servicing rights (b)(c) $ — $ — — $ 22 (a) Loans held for sale are presented gross of a valuation allowance of $105 and $0 at December 31, 2022 and December 31, 2021, respectively. (b) Included in "Other intangible assets" on the Consolidated Balance Sheets. Servicing rights are carried at the lower of cost or estimated market value. (c) Peoples established a valuation allowance on servicing rights of $1 at December 31, 2022 and $12 at December 31, 2021. The fair value of the servicing rights on 10-year fixed rate loans was less than the carrying value.
Schedule of Fair Values of Financial Assets and Liabilities on Balance Sheets	The following table provides the carrying amount for each class of assets and liabilities, and the fair value for certain financial instruments that are not required to be measured or reported at fair value on the Consolidated Balance Sheets. Fair Value Measurements of Other Financial Instruments (Dollars in thousands) Fair Value Hierarchy Level December 31, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents 1 $ 154,022 $ 154,022 $ 415,727 $ 415,727 Held-to-maturity investment securities: Obligations of: U.S. government sponsored agencies 2 132,366 123,020 36,431 35,513 States and political subdivisions (a) 2 145,263 108,776 151,688 150,138 Residential mortgage-backed securities 2 176,215 157,998 110,708 110,159 Commercial mortgage-backed securities 2 101,861 85,354 75,588 74,145 Commercial mortgage-backed securities 3 4,748 3,361 — — Total held-to-maturity securities 560,453 478,509 374,415 369,955 Other investment securities: Other investment securities at cost: Federal Home Loan Bank ("FHLB") stock N/A 26,605 26,605 17,308 17,308 Federal Reserve Bank ("FRB") stock N/A 21,231 21,231 13,311 13,311 Total other investment securities at cost 47,836 47,836 30,619 30,619 Other investment securities at fair value: Nonqualified deferred compensation (b) 1 2,048 2,048 2,240 2,240 Other investment securities (c) 2 1,379 1,379 784 784 Total other investment securities at fair value 51,263 51,263 33,643 33,643 Loans and leases, net of deferred fees and cost (d) 3 4,707,150 4,516,695 4,481,600 4,510,605 Bank owned life insurance 2 105,292 105,292 73,358 73,358 Financial liabilities: Deposits 2 $ 5,716,941 $ 4,682,491 $ 5,862,552 $ 5,546,552 Short-term borrowings 2 500,138 504,584 166,482 164,990 Long-term borrowings 2 101,093 101,992 99,475 101,664 (a) Held-to-maturity investment securities are presented gross of an allowance for credit losses of $241 and $286, at December 31, 2022 and December 31, 2021, respectively. (b) Nonqualified deferred compensation includes underlying investments in mutual funds. (c) "Other investment securities", as reported on the Consolidated Balance Sheets, also included equity investment securities at December 31, 2022 and at December 31, 2021, which are reported in the Assets and Liabilities Required to be Measured and Reported at Fair Value on a Recurring Basis table above and not included in this table. (d) Loans and leases, net of deferred fees and cost are presented gross of an allowance for credit losses of $53.2 million and $64.0 million, as of December 31, 2022 and December 31, 2021, respectively.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Investment Securities	Available-for-sale The following table summarizes Peoples’ available-for-sale investment securities at December 31: (Dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2022 Obligations of: U.S. Treasury and government agencies $ 158,473 $ — $ (6,051) $ 152,422 U.S. government sponsored agencies 101,753 18 (13,656) 88,115 States and political subdivisions 261,612 12 (35,742) 225,882 Residential mortgage-backed securities 707,025 1,017 (103,389) 604,653 Commercial mortgage-backed securities 61,091 — (11,042) 50,049 Bank-issued trust preferred securities 10,765 57 (544) 10,278 Total available-for-sale securities $ 1,300,719 $ 1,104 $ (170,424) $ 1,131,399 2021 Obligations of: U.S. Treasury and government agencies $ 35,609 $ 12 $ (17) $ 35,604 U.S. government sponsored agencies 83,019 58 (1,338) 81,739 States and political subdivisions 259,508 3,187 (3,376) 259,319 Residential mortgage-backed securities 833,328 6,565 (11,376) 828,517 Commercial mortgage-backed securities 64,971 42 (1,494) 63,519 Bank-issued trust preferred securities 6,711 215 (131) 6,795 Total available-for-sale securities $ 1,283,146 $ 10,079 $ (17,732) $ 1,275,493
Schedule of Gross Gains and Losses from Sales of Available-for-sale Securities	The gross gains and gross losses realized by Peoples from sales of available-for-sale securities for the years ended December 31 were as follows: (Dollars in thousands) 2022 2021 2020 Gross gains realized $ 314 $ 1,184 $ 655 Gross losses realized 375 2,046 1,023 Net (loss) gain realized $ (61) $ (862) $ (368)
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	The following table presents a summary of available-for-sale investment securities that had an unrealized loss at December 31: Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Loss No. of Securities Fair Value Unrealized Loss No. of Securities Fair Value Unrealized Loss 2022 Obligations of: U.S. Treasury and government agencies $ 112,730 $ 2,772 13 $ 39,692 $ 3,279 11 $ 152,422 $ 6,051 U.S. government sponsored agencies 15,166 249 17 66,706 13,407 18 81,872 13,656 States and political subdivisions 60,324 714 114 156,900 35,028 117 217,224 35,742 Residential mortgage-backed securities 104,959 8,087 105 488,452 95,302 139 593,411 103,389 Commercial mortgage-backed securities 1,874 129 2 48,175 10,913 21 50,049 11,042 Bank-issued trust preferred securities 4,400 100 3 3,556 444 2 7,956 544 Total $ 299,453 $ 12,051 254 $ 803,481 $ 158,373 308 $ 1,102,934 $ 170,424 2021 Obligations of: U.S. Treasury and government agencies $ 16,914 $ 17 6 $ — $ — — $ 16,914 $ 17 U.S. government sponsored agencies 72,406 1,192 13 4,854 146 1 77,260 1,338 States and political subdivisions 101,397 2,075 71 30,853 1,301 11 132,250 $ 3,376 Residential mortgage-backed securities 573,139 9,051 113 51,103 2,325 14 624,242 11,376 Commercial mortgage-backed securities 60,134 1,494 21 — — — 60,134 1,494 Bank-issued trust preferred securities 2,991 9 1 878 122 1 3,869 131 Total $ 826,981 $ 13,838 225 $ 87,688 $ 3,894 27 $ 914,669 $ 17,732
Schedule of Investment Securities by Contractual Maturity	The table below presents the amortized cost, fair value and total weighted-average yield of available-for-sale securities by contractual maturity at December 31, 2022. The weighted-average yields are based on the amortized cost and are computed on a fully taxable-equivalent basis using a blended federal and state corporate income tax rate of 23.3%. In some cases, the issuers may have the right to call or prepay obligations without call or prepayment penalties prior to the contractual maturity date. (Dollars in thousands) Within 1 Year 1 to 5 Years 5 to 10 Years Over 10 Years Total Amortized cost Obligations of: U.S. Treasury and government agencies $ 53,010 $ 105,463 $ — $ — $ 158,473 U.S. government sponsored agencies 7,028 41,440 45,016 8,269 101,753 States and political subdivisions 27,434 48,406 69,824 115,948 261,612 Residential mortgage-backed securities 18 1,595 57,748 647,664 707,025 Commercial mortgage-backed securities 1,090 4,089 30,901 25,011 61,091 Bank-issued trust preferred securities — 4,265 6,500 — 10,765 Total available-for-sale securities $ 88,580 $ 205,258 $ 209,989 $ 796,892 $ 1,300,719 Fair value Obligations of: U.S. Treasury and government agencies $ 51,957 $ 100,465 $ — $ — $ 152,422 U.S. government sponsored agencies 6,933 37,643 37,513 6,026 88,115 States and political subdivisions 27,312 46,152 58,275 94,143 225,882 Residential mortgage-backed securities 18 1,524 52,232 550,879 604,653 Commercial mortgage-backed securities 1,080 3,751 25,520 19,698 50,049 Bank-issued trust preferred securities — 4,313 5,965 — 10,278 Total available-for-sale securities $ 87,300 $ 193,848 $ 179,505 $ 670,746 $ 1,131,399 Total weighted-average yield 2.32 % 2.07 % 1.71 % 1.82 % 1.88 % The table below presents the amortized cost, fair value and total weighted-average yield of held-to-maturity securities by contractual maturity at December 31, 2022. The weighted-average yields are based on the amortized cost and are computed on a fully taxable-equivalent basis using a blended federal and state corporate income tax rate of 23.3%. In some cases, the issuers may have the right to call or prepay obligations without call or prepayment penalties prior to the contractual maturity date. (Dollars in thousands) Within 1 Year 1 to 5 Years 5 to 10 Years Over 10 Years Total Amortized cost Obligations of: U.S. government sponsored agencies $ 2,125 $ 20,012 $ 48,883 $ 61,346 $ 132,366 States and political subdivisions — 5,211 9,407 130,645 145,263 Residential mortgage-backed securities — 1,036 — 175,179 176,215 Commercial mortgage-backed securities — 12,026 31,438 63,145 106,609 Total held-to-maturity securities $ 2,125 $ 38,285 $ 89,728 $ 430,315 $ 560,453 Fair value Obligations of: U.S. government sponsored agencies $ 2,093 $ 19,194 $ 48,320 $ 53,413 $ 123,020 States and political subdivisions — 4,857 7,809 96,110 108,776 Residential mortgage-backed securities — 1,006 — 156,992 157,998 Commercial mortgage-backed securities — 11,126 27,832 49,757 88,715 Total held-to-maturity securities $ 2,093 $ 36,183 $ 83,961 $ 356,272 $ 478,509 Total weighted-average yield 0.98 % 1.97 % 4.17 % 3.02 % 3.12 %
Schedule of Held-to-maturity Investment Securities	The following table summarizes Peoples’ held-to-maturity investment securities at December 31: (Dollars in thousands) Amortized Cost Allowance for Credit Losses Gross Unrealized Gains Gross Unrealized Losses Fair Value 2022 Obligations of: U.S. government sponsored agencies $ 132,366 $ — $ 130 $ (9,476) $ 123,020 States and political subdivisions 145,263 (241) 162 (36,408) 108,776 Residential mortgage-backed securities 176,215 — 244 (18,461) 157,998 Commercial mortgage-backed securities 106,609 — — (17,894) 88,715 Total held-to-maturity securities $ 560,453 $ (241) $ 536 $ (82,239) $ 478,509 2021 Obligations of: U.S. government sponsored agencies $ 36,431 $ — $ 86 $ (1,004) $ 35,513 States and political subdivisions 151,688 (286) 1,006 (2,270) 150,138 Residential mortgage-backed securities 110,708 — 370 (919) 110,159 Commercial mortgage-backed securities 75,588 — 182 (1,625) 74,145 Total held-to-maturity securities $ 374,415 $ (286) $ 1,644 $ (5,818) $ 369,955
Schedule of Held-to-maturity Securities with Unrealized Loss	The following table presents a summary of held-to-maturity investment securities that had an unrealized loss at December 31: Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Loss No. of Securities Fair Value Unrealized Loss No. of Securities Fair Value Unrealized Loss 2022 Obligations of: U.S. government sponsored agencies $ 59,905 $ 651 17 $ 29,306 $ 8,825 9 $ 89,211 $ 9,476 States and political subdivisions 3,590 1,072 3 101,863 35,336 64 105,453 36,408 Residential mortgage-backed securities 71,582 2,904 21 72,862 15,557 18 144,444 18,461 Commercial mortgage-backed securities 26,869 650 8 61,846 17,244 29 88,715 17,894 Total $ 161,946 $ 5,277 49 $ 265,877 $ 76,962 120 $ 427,823 $ 82,239 2021 Obligations of: U.S. government sponsored agencies $ 17,328 $ 504 6 $ 14,635 $ 500 2 $ 31,963 $ 1,004 States and political subdivisions 61,954 1,041 34 27,328 1,229 6 89,282 2,270 Residential mortgage-backed securities 88,937 919 17 — — — 88,937 919 Commercial mortgage-backed securities 67,338 1,625 21 — — — 67,338 1,625 Total $ 235,557 $ 4,089 78 $ 41,963 $ 1,729 8 $ 277,520 $ 5,818
Schedule of Other Investment Securities	The following table summarizes the carrying value of Peoples' other investment securities at December 31: (Dollars in thousands) 2022 2021 FHLB stock $ 26,605 $ 17,308 FRB stock 21,231 13,311 Nonqualified deferred compensation 2,048 2,240 Equity investment securities 346 344 Other investment securities 1,379 784 Total other investment securities $ 51,609 $ 33,987
Schedule of Pledged Securities	The following table summarizes the carrying value of Peoples' pledged investment securities as of December 31: Carrying Amount (Dollars in thousands) 2022 2021 Securing public and trust department deposits, and repurchase agreements: Available-for-sale $ 779,244 $ 795,496 Held-to-maturity 312,921 160,643 Securing collateral for cash flow hedge swaps: Available-for-sale — 18,208 Held-to-maturity — 9,936 Securing additional borrowing capacity at the FHLB and the FRB: Available-for-sale 3,972 6,504 Held-to-maturity 128,870 549 (Dollars in thousands) 2022 2021 Loans pledged to FHLB $ 783,843 $ 769,863 Loans pledged to FRB 339,005 294,728

Loans and Leases (Tables)

Loans and Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of Loan Classification by Type	The major classifications of loan balances (in each case, net of deferred fees and costs) excluding loans held for sale, were as follows at December 31: (Dollars in thousands) 2022 2021 Construction $ 246,941 $ 210,232 Commercial real estate, other 1,423,518 1,550,081 Commercial and industrial 892,634 891,392 Premium finance 159,197 136,136 Leases 345,131 122,508 Residential real estate 723,360 771,718 Home equity lines of credit 177,858 163,593 Consumer, indirect 629,426 530,532 Consumer, direct 108,363 104,652 Deposit account overdrafts 722 756 Total loans, at amortized cost $ 4,707,150 $ 4,481,600
Schedule of Nonaccrual and Past Due Loans	The amortized cost of loans on nonaccrual status and loans delinquent for 90 days or more and accruing were as follows at December 31: 2022 2021 (Dollars in thousands) Nonaccrual (a) Accruing Loans 90+ Days Past Due Nonaccrual (a) Accruing Loans 90+ Days Past Due Construction $ 12 $ — $ 6 $ 90 Commercial real estate, other 12,121 167 17,067 689 Commercial and industrial 3,462 130 3,572 1,139 Premium finance — 504 — 865 Leases 3,178 3,041 1,581 — Residential real estate 9,496 917 9,647 805 Home equity lines of credit 820 58 1,039 50 Consumer, indirect 2,176 — 1,574 — Consumer, direct 208 25 279 85 Total loans, at amortized cost $ 31,473 $ 4,842 $ 34,765 $ 3,723 (a) There were $1.4 million of nonaccrual loans for which there was no allowance for credit losses at December 31, 2022 and $2.6 million of such loans at December 31, 2021.
Schedule of Aging of the Recorded Investment in Past Due Loans and Leases	The following tables present the aging of the recorded investment in past due loans at December 31: Loans Past Due Current Total (Dollars in thousands) 30 – 59 days 60 – 89 days 90 + Days Total 2022 Construction $ 196 $ 161 $ 9 $ 366 $ 246,575 $ 246,941 Commercial real estate, other 2,279 1,051 10,370 13,700 1,409,818 1,423,518 Commercial and industrial 2,522 289 3,449 6,260 886,374 892,634 Premium finance 646 816 504 1,966 157,231 159,197 Leases 6,074 1,921 6,218 14,213 330,918 345,131 Residential real estate 10,113 2,128 5,519 17,760 705,600 723,360 Home equity lines of credit 987 149 552 1,688 176,170 177,858 Consumer, indirect 5,866 1,048 921 7,835 621,591 629,426 Consumer, direct 703 70 108 881 107,482 108,363 Deposit account overdrafts — — — — 722 722 Total loans, at amortized cost $ 29,386 $ 7,633 $ 27,650 $ 64,669 $ 4,642,481 $ 4,707,150 2021 Construction $ 658 $ — $ 90 $ 748 $ 209,484 $ 210,232 Commercial real estate, other 2,891 1,600 12,561 17,052 1,533,029 1,550,081 Commercial and industrial 1,132 1,278 3,595 6,005 885,387 891,392 Premium finance 751 266 865 1,882 134,254 136,136 Leases 426 247 1,581 2,254 120,254 122,508 Residential real estate 8,276 2,241 5,188 15,705 756,013 771,718 Home equity lines of credit 1,137 619 625 2,381 161,212 163,593 Consumer, indirect 4,220 895 615 5,730 524,802 530,532 Consumer, direct 457 135 200 792 103,860 104,652 Deposit account overdrafts — — — — 756 756 Total loans, at amortized cost $ 19,948 $ 7,281 $ 25,320 $ 52,549 $ 4,429,051 $ 4,481,600
Schedule of Pledged Securities	The following table summarizes the carrying value of Peoples' pledged investment securities as of December 31: Carrying Amount (Dollars in thousands) 2022 2021 Securing public and trust department deposits, and repurchase agreements: Available-for-sale $ 779,244 $ 795,496 Held-to-maturity 312,921 160,643 Securing collateral for cash flow hedge swaps: Available-for-sale — 18,208 Held-to-maturity — 9,936 Securing additional borrowing capacity at the FHLB and the FRB: Available-for-sale 3,972 6,504 Held-to-maturity 128,870 549 (Dollars in thousands) 2022 2021 Loans pledged to FHLB $ 783,843 $ 769,863 Loans pledged to FRB 339,005 294,728
Schedule of Related Party Loans	Activity in related party loans is presented in the table below. Other changes primarily consist of changes in related party status, and the addition and exit of directors during the year, as applicable. (Dollars in thousands) Balance, December 31, 2021 $ 28,079 New loans and disbursements 19,938 Repayments (20,579) Other changes (66) Balance, December 31, 2022 $ 27,372
Schedule of Loans By Risk Category	The following tables summarize the risk category of Peoples' loan portfolio based upon the then most recent analysis performed at December 31, 2022: Term Loans at Amortized Cost by Origination Year (Dollars in thousands) 2022 2021 2020 2019 2018 Prior Revolving Loans Revolving Loans Converted to Term Total Loans Construction Pass $ 82,143 $ 110,719 $ 27,893 $ 20,223 $ 656 $ 4,061 $ 44 $ 81 $ 245,739 Special mention — — — — — 818 — — 818 Substandard — 2 — — — 382 — — 384 Total 82,143 110,721 27,893 20,223 656 5,261 44 81 246,941 Commercial real estate, other Pass 165,282 224,727 227,799 202,877 110,564 369,578 27,300 5,217 1,328,127 Special mention — 189 1,099 5,519 3,111 29,334 105 — 39,357 Substandard — 8,327 2,591 1,366 1,296 42,172 216 190 55,968 Doubtful — — — — — 66 — — 66 Total 165,282 233,243 231,489 209,762 114,971 441,150 27,621 5,407 1,423,518 Commercial and industrial Pass 167,937 142,615 72,573 71,497 40,229 91,853 215,116 3,722 801,820 Special mention 10,248 14,981 11,923 2,711 236 4,877 16,235 — 61,211 Substandard 84 9,801 3,417 2,410 1,459 3,620 8,603 611 29,394 Doubtful — — — — — 209 — — 209 Total 178,269 167,397 87,913 76,618 41,924 100,559 239,954 4,333 892,634 Premium finance Pass 158,778 419 — — — — — — 159,197 Total 158,778 419 — — — — — — 159,197 Leases Pass 191,148 90,738 34,627 15,951 3,269 1,119 — — 336,852 Special mention 1,741 2,477 140 22 24 — — — 4,404 Substandard 546 1,840 571 464 454 — — — 3,875 Total 193,435 95,055 35,338 16,437 3,747 1,119 — — 345,131 Residential real estate Pass 78,313 138,860 58,869 42,840 28,174 364,635 — — 711,691 Substandard — — 137 569 563 10,302 — — 11,571 Loss — — — — — 98 — — 98 Total 78,313 138,860 59,006 43,409 28,737 375,035 — — 723,360 Home equity lines of credit Pass 41,781 35,768 19,863 14,820 13,800 50,291 334 2,096 176,657 Substandard — 60 — 53 126 958 — — 1,197 Loss — — — — — 4 — — 4 Total 41,781 35,828 19,863 14,873 13,926 51,253 334 2,096 177,858 Consumer, indirect Pass 305,814 149,445 100,027 35,988 22,789 12,741 — — 626,804 Substandard 384 811 659 266 304 193 — — 2,617 Loss — 5 — — — — — — 5 Total 306,198 150,261 100,686 36,254 23,093 12,934 — — 629,426 Consumer, direct Pass 50,889 28,351 14,558 6,333 3,725 3,975 — — 107,831 Substandard 97 63 138 46 21 150 — — 515 Loss — — — — — 17 — — 17 Total 50,986 28,414 14,696 6,379 3,746 4,142 — — 108,363 Deposit account overdrafts 722 — — — — — — — 722 Total loans, at amortized cost $ 1,255,907 $ 960,198 $ 576,884 $ 423,955 $ 230,800 $ 991,453 $ 267,953 $ 11,917 $ 4,707,150 The following tables summarize the risk category of Peoples' loan portfolio based upon the then most recent analysis performed at December 31, 2021: Term Loans at Amortized Cost by Origination Year (Dollars in thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Total Loans Construction Pass $ 85,276 $ 78,026 $ 29,514 $ 3,498 $ 1,233 $ 2,982 $ 2,411 $ 6,948 $ 202,940 Special mention 290 — — 735 3,850 137 — — 5,012 Substandard — — 947 77 153 1,103 — — 2,280 Total 85,566 78,026 30,461 4,310 5,236 4,222 2,411 6,948 210,232 Commercial real estate, other Pass 253,259 259,113 217,938 143,094 143,975 392,212 21,320 11,940 1,430,911 Special mention 157 2,716 7,875 3,839 6,292 31,626 — 49 52,505 Substandard — 1,675 824 691 3,124 59,415 371 37 66,100 Doubtful — — — — — 542 — — 542 Loss — — — — — 23 — — 23 Total 253,416 263,504 226,637 147,624 153,391 483,818 21,691 12,026 1,550,081 Commercial and industrial Pass 299,117 105,646 84,144 56,361 22,182 100,030 174,848 15,888 842,328 Special mention 82 11,745 2,559 2,179 132 5,445 7,563 9 29,705 Substandard 465 2,059 2,691 812 4,995 3,342 3,085 367 17,449 Doubtful — — — — — 1,648 262 100 1,910 Total 299,664 119,450 89,394 59,352 27,309 110,465 185,758 16,364 891,392 Premium finance Pass 135,896 240 — — — — — — 136,136 Total 135,896 240 — — — — — — 136,136 Leases Pass 78,048 25,954 13,368 2,972 337 — — — 120,679 Special mention 34 29 22 159 4 — — — 248 Substandard 196 438 462 479 6 — — — 1,581 Total 78,278 26,421 13,852 3,610 347 — — — 122,508 Residential real estate Pass 141,845 74,169 53,434 33,690 44,377 407,541 — — 755,056 Substandard — — — — — 16,302 — — 16,302 Loss — — — — — 360 — — 360 Total 141,845 74,169 53,434 33,690 44,377 424,203 — — 771,718 Home equity lines of credit Pass 35,898 23,276 18,035 16,124 14,991 53,302 1,967 3,287 163,593 Total 35,898 23,276 18,035 16,124 14,991 53,302 1,967 3,287 163,593 Consumer, indirect Pass 226,287 163,830 63,353 45,672 21,754 9,636 — — 530,532 Total 226,287 163,830 63,353 45,672 21,754 9,636 — — 530,532 Consumer, direct Pass 47,308 26,792 13,293 8,411 3,218 5,630 — — 104,652 Total 47,308 26,792 13,293 8,411 3,218 5,630 — — 104,652 Deposit account overdrafts 756 — — — — — — — 756 Total loans, at amortized cost $ 1,304,914 $ 775,708 $ 508,459 $ 318,793 $ 270,623 $ 1,091,276 $ 211,827 $ 38,625 $ 4,481,600
Schedule of Financing Receivables, Collateral Dependent	The following table details Peoples' amortized cost of collateral dependent loans at December 31: (Dollars in thousands) 2022 2021 Construction $ — $ 1,291 Commercial real estate, other 8,362 37,220 Commercial and industrial 1,456 8,340 Residential real estate 536 2,877 Home equity lines of credit — 391 Total collateral dependent loans $ 10,354 $ 50,119
Schedule of Troubled Debt Restructurings on Financing Receivables	The following table summarizes the loans that were modified as TDRs during the years ended December 31, 2022 and 2021. Recorded Investment (a) (Dollars in thousands) Number of Contracts Pre-Modification Post-Modification Remaining Recorded Investment 2022 Commercial real estate, other 8 $ 1,191 $ 1,191 $ 1,179 Commercial and industrial 9 1,513 1,517 971 Residential real estate 34 1,741 1,825 1,789 Home equity lines of credit 8 321 321 313 Consumer, indirect 23 286 285 285 Consumer, direct 9 102 103 103 Consumer 32 388 388 388 Total 91 $ 5,154 $ 5,242 $ 4,640 2021 Construction 1 $ 344 $ 344 $ 344 Commercial real estate, other 7 218 218 217 Commercial and industrial 1 187 188 100 Residential real estate 55 2,513 2,574 2,464 Home equity lines of credit 14 500 500 489 Consumer, indirect 16 207 207 184 Consumer, direct 11 59 60 53 Consumer 27 266 267 237 Total 105 $ 4,028 $ 4,091 $ 3,851 (a) The amounts shown are inclusive of all partial paydowns and charge-offs. Loans modified in a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported. The following table presents those loans modified into a TDR during the year that subsequently defaulted (i.e., 90 days or more past due following a modification during the year). 2022 2021 (Dollars in thousands) Number of Contracts Recorded Investment (a) Impact on the Allowance for Credit Losses Number of Contracts Recorded Investment (a) Impact on the Allowance for Credit Losses Commercial real estate, other 1 $ 65 $ — — $ — $ — Commercial and Industrial 1 43 — — — — Residential real estate 2 64 — 3 156 — Consumer, indirect 1 7 — 1 26 — Consumer, direct 1 2 — — — — Total 6 $ 181 $ — 4 $ 182 $ — (a) The amounts shown are inclusive of all partial paydowns and charge-offs. Loans modified in a TDR that were fully paid down, charged-off or foreclosed upon by period end are not reported.
Schedule of Activity in Allowance for Loan and Lease Losses	Changes in the allowance for credit losses for 2022 are summarized below: (Dollars in thousands) Beginning Balance, Initial Allowance for Acquired PCD Assets (a) (Recovery of) Provision for Credit Losses (b) Charge-offs Recoveries Ending Balance, December 31, 2022 Construction $ 2,999 $ — $ (1,733) $ (16) $ — $ 1,250 Commercial real estate, other 29,147 (451) (10,794) (489) 297 17,710 Commercial and industrial 11,063 (418) (1,522) (943) 49 8,229 Premium finance 379 — 76 (124) 13 344 Leases 4,797 801 5,062 (2,585) 420 8,495 Residential real estate 7,233 (509) 217 (668) 84 6,357 Home equity lines of credit 2,005 (11) (258) (88) 45 1,693 Consumer, indirect 5,326 (41) 4,068 (2,233) 328 7,448 Consumer, direct 961 — 930 (363) 47 1,575 Deposit account overdrafts 57 — 1,050 (1,246) 200 61 Total $ 63,967 $ (629) $ (2,904) $ (8,755) $ 1,483 $ 53,162 (a) Includes purchase price adjustments related to acquisitions previously completed but were within the 12-month measurement period. (b) Amount does not include the provision for unfunded commitment liability. Changes in the allowance for credit losses for 2021 are summarized below: (Dollars in thousands) Beginning Balance, Initial Allowance for Acquired PCD Assets (Recovery of) Provision for Credit Losses (a) Charge-offs Recoveries Ending Balance, December 31, 2021 Construction $ 1,887 $ 2,006 $ (894) $ — $ — $ 2,999 Commercial real estate, other 17,536 9,636 2,158 (387) 204 29,147 Commercial and industrial 12,763 4,048 (4,717) (1,057) 26 11,063 Premium finance 1,095 — (671) (45) — 379 Leases — 493 5,399 (1,434) 339 4,797 Residential real estate 6,044 1,206 225 (385) 143 7,233 Home equity lines of credit 1,860 66 235 (197) 41 2,005 Consumer, indirect 8,030 — (1,201) (1,756) 253 5,326 Consumer, direct 1,081 115 (195) (152) 112 961 Deposit account overdrafts 63 — 392 (575) 177 57 Total $ 50,359 $ 17,570 $ 731 $ (5,988) $ 1,295 $ 63,967 (a) Amount does not include the provision for unfunded commitment liability.

Bank Premises and Equipment (Ta

Bank Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The major categories of bank premises and equipment, net of accumulated depreciation, at December 31 were as follows: (Dollars in thousands) 2022 2021 Land $ 18,746 $ 19,921 Building and premises 101,478 101,234 Furniture, fixtures and equipment 37,913 36,319 Total bank premises and equipment 158,137 157,474 Accumulated depreciation (75,203) (68,214) Net book value $ 82,934 $ 89,260

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Sales-type Lease	The table below details Peoples' lease income for the years ended December 31, 2022 and 2021: (Dollars in thousands) 2022 2021 Interest and fees on leases (a) $ 34,720 $ 13,572 Other non-interest income 4,267 1,293 Total lease income $ 38,987 $ 14,865 (a) Included in "Interest and fees on loans" on the Consolidated Statements of Income. For additional
Summary of Net Investments in Sale-type Leases	The following table summarizes the net investments in sales-type leases, which are included in "Loans and leases, net of deferred costs" on the Consolidated Balance Sheets at December 31: (Dollars in thousands) 2022 2021 Lease payments receivable, at amortized cost $ 367,681 $ 152,202 Estimated residual values 35,045 129 Initial direct costs 4,233 1,427 Deferred revenue (61,828) (31,250) Total leases, at amortized cost 345,131 122,508 Allowance for credit losses - leases (8,495) (4,797) Net investment in sales-type leases $ 336,636 $ 117,711
Schedule of Contractual Maturities of Leases	The following table summarizes the contractual maturities of leases: (Dollars in thousands) Balance 2023 $ 82,543 2024 84,642 2025 92,966 2026 61,351 2027 37,310 Thereafter 8,869 Lease payments receivable, at amortized cost $ 367,681
Schedule of Lease Cost	The table below details Peoples' lease expense, which is included in "Net occupancy and equipment expense" in the Consolidated Statements of Income for the years ended December 31: (Dollars in thousands) 2022 2021 Operating lease expense $ 2,568 $ 1,632 Short-term lease expense 745 411 Total lease expense $ 3,313 $ 2,043 The following table details the ROU asset, the lease liability and other information related to Peoples' operating leases on the Consolidated Balance Sheet at December 31: (Dollars in thousands) 2022 2021 Right-of-use asset: Other assets $ 6,825 $ 7,911 Lease liability: Accrued expenses and other liabilities $ 7,551 $ 8,674 Other information: Weighted-average remaining lease term 8.8 years 9.5 years Weighted-average discount rate 2.70 % 2.36 % Cash paid during the year for operating leases $ 2,560 $ 1,585 Additions for right-of-use assets obtained during the year $ 880 $ 2,482
Schedule of Future Lease Payments of Operating Leases	The following table summarizes the future lease payments of operating leases: (Dollars in thousands) Payments 2023 $ 2,245 2024 1,487 2025 1,002 2026 839 2027 702 Thereafter 3,005 Total undiscounted lease payments $ 9,280 Imputed interest (1,729) Total lease liability $ 7,551

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table details changes in the recorded amount of goodwill for the years ended December 31: (Dollars in thousands) 2022 2021 Goodwill, beginning of year $ 264,193 $ 171,260 Goodwill recorded from acquisitions 28,204 92,933 Goodwill, end of year $ 292,397 $ 264,193
Schedule of Other Intangible Assets	Other intangible assets were comprised of the following at December 31: (Dollars in thousands) Core Deposits Customer Relationships Indefinite-Lived Trade Names Total 2022 Gross intangibles $ 26,464 $ 25,173 $ 1,274 $ 52,911 Intangibles recorded from acquisitions (a) — 14,067 1,217 15,284 Accumulated amortization (20,667) (15,412) — (36,079) Total acquisition-related intangibles $ 5,797 $ 23,828 2,491 $ 32,116 Servicing rights 1,816 Total other intangibles $ 33,932 2021 Gross intangibles $ 22,233 $ 12,495 $ — $ 34,728 Intangibles recorded from acquisitions (a) 4,233 13,014 1,274 18,521 Accumulated amortization (19,048) (9,603) — (28,651) Total acquisition-related intangibles $ 7,418 $ 15,906 1,274 $ 24,598 Servicing rights 2,218 Total other intangibles $ 26,816 (a) Peoples included in customer relationship intangibles an intangible asset related to a non-compete agreement in the
Schedule of Future Amortization of Other Intangible Assets	The following table details estimated aggregate future amortization of other intangible assets at December 31, 2022: (Dollars in thousands) Core Deposits Customer Relationships Total 2023 $ 1,257 $ 6,269 $ 7,526 2024 1,058 5,325 6,383 2025 891 4,255 5,146 2026 731 3,114 3,845 2027 572 2,289 2,861 Thereafter 1,288 2,576 3,864 Total $ 5,797 $ 23,828 $ 29,625
Schedule of Servicing Rights Activity	The following is an analysis of activity of servicing rights for the years ended December 31: (Dollars in thousands) 2022 2021 2020 Balance, beginning of year $ 2,218 $ 2,486 $ 2,742 Amortization (594) (936) (1,121) Servicing rights originated 180 519 1,026 Change in valuation allowance 12 149 (161) Balance, end of year $ 1,816 $ 2,218 $ 2,486
Schedule of Discount Rates and Prepayment Speeds Servicing Rights	The following is the breakdown of the discount rates and prepayment speeds of servicing rights for the years ended December 31: 2022 2021 Minimum Maximum Minimum Maximum Discount rates 12.5 % 15.0 % 8.3 % 10.8 % Prepayment speeds 6.5 % 23.8 % 8.9 % 27.1 %

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2022
Banking and Thrift, Other Disclosure [Abstract]
Schedule of Deposit Balances	Peoples’ deposit balances were comprised of the following at December 31: (Dollars in thousands) 2022 2021 Retail CDs: $100 or more $ 263,341 $ 320,574 Less than $100 266,895 323,185 Total retail CDs 530,236 643,759 Interest-bearing deposit accounts 1,160,182 1,167,460 Savings accounts 1,068,547 1,036,738 Money market deposit accounts 617,029 651,169 Governmental deposit accounts 625,965 617,259 Brokered deposit accounts 125,580 104,745 Total interest-bearing deposits 4,127,539 4,221,130 Non-interest-bearing deposits 1,589,402 1,641,422 Total deposits $ 5,716,941 $ 5,862,552
Schedule of Maturities of Certificates of Deposit	Uninsured time deposits are broken out below by time remaining until maturity. (Dollars in thousands) 2022 2021 3 months or less $ 19,282 $ 23,779 Over 3 to 6 months 14,871 26,964 Over 6 to 12 months 14,383 34,434 Over 12 months 52,216 36,115 Total $ 100,752 $ 121,292 The contractual maturities of CDs for each of the next five years and thereafter are as follows: (Dollars in thousands) Retail Brokered Total 2023 $ 316,073 $ 125,580 $ 441,653 2024 132,130 — 132,130 2025 32,838 — 32,838 2026 22,127 — 22,127 2027 26,978 — 26,978 Thereafter 90 — 90 Total CDs $ 530,236 $ 125,580 $ 655,816

Short-Term Borrowings (Tables)

Short-Term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2022
Short-Term Debt [Abstract]
Schedule of Short-term Borrowings	Peoples utilizes various short-term borrowings as sources of funds, which are summarized as follows at December 31: (Dollars in thousands) Retail Repurchase Agreements FHLB Advances Other Total 2022 Ending balance $ 100,138 $ 400,000 $ — $ 500,138 Average balance 113,434 83,356 — 196,790 Highest month-end balance 286,442 400,000 — 500,138 Interest expense $ 274 $ 2,387 $ — $ 2,661 Weighted-average interest rate: End of year 0.40 % 4.36 % — % 3.57 % During the year 0.24 % 2.86 % — % 1.35 % 2021 Ending balance $ 111,482 $ 55,000 $ — $ 166,482 Average balance 70,674 30,289 — 100,963 Highest month-end balance 119,693 65,017 — 184,693 Interest expense $ 66 $ 475 $ — $ 541 Weighted-average interest rate: End of year 0.09 % 0.74 % — % 0.31 % During the year 0.09 % 1.57 % — % 0.54 % 2020 Ending balance $ 53,261 $ 20,000 $ — $ 73,261 Average balance 44,902 129,928 1,803 176,633 Highest month-end balance 53,261 235,989 64,000 279,773 Interest expense $ 77 $ 2,489 $ 5 $ 2,571 Weighted-average interest rate: End of year 0.06 % 1.78 % — % 0.53 % During the year 0.17 % 1.92 % 0.25 % 1.46 %

Long-Term Borrowings (Tables)

Long-Term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Borrowings	Long-term borrowings consisted of the following at December 31: 2022 2021 (Dollars in thousands) Balance Weighted- Average Rate Balance Weighted- Average Rate FHLB putable, non-amortizing, fixed rate advances $ 30,000 2.51 % $ 80,000 1.42 % FHLB amortizing, fixed rate advances 4,158 1.79 % 5,825 1.77 % Vantage non-recourse borrowings 53,147 4.75 % — — % Junior subordinated debt securities 13,788 8.66 % 13,650 3.37 % Long-term borrowings (a) $ 101,093 $ 99,475 (a) The average interest rates on total long-term borrowings at December 31, 2022 and December 31, 2021 were 4.27% and 1.69%, respectively.
Schedule of Aggregate Minimum Annual Retirements of Long-Term Borrowings	At December 31, 2022, the aggregate minimum annual retirements of long-term borrowings in future periods were as follows: (Dollars in thousands) Balance 2023 $ 10,343 2024 18,042 2025 11,820 2026 26,052 2027 15,946 Thereafter 18,890 Total long-term borrowings $ 101,093

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Preferred, Common and Treasury Stock	The following table details the activity in Peoples’ common stock and treasury stock during the years ended December 31: Common Stock Treasury Shares at December 31, 2019 21,156,143 504,182 Changes related to stock-based compensation awards: Grant of restricted common shares — (128,402) Release of restricted common shares — 27,391 Cancellation of restricted common shares — 33,689 Grant of unrestricted common shares — (23,482) Changes related to deferred compensation plan for Boards of Directors: Purchase of treasury stock — 12,005 Disbursed out of treasury stock — (2,362) Common shares purchased under repurchase program — 1,299,577 Common shares issued under dividend reinvestment plan 37,259 — Common shares issued under compensation plan for Boards of Directors — (11,553) Common shares issued under performance unit awards — (6,127) Common shares issued under employee stock purchase plan — (18,872) Shares at December 31, 2020 21,193,402 1,686,046 Changes related to stock-based compensation awards: Grant of restricted common shares — (109,385) Release of restricted common shares — 34,732 Cancellation of restricted common shares — 8,129 Grant of unrestricted common shares — (21,587) Changes related to deferred compensation plan for Boards of Directors: Purchase of treasury stock — 7,089 Disbursed out of treasury stock — (2,983) Common shares issued under dividend reinvestment plan 31,314 — Common shares issued under compensation plan for Boards of Directors — (7,589) Common shares issued under employee stock purchase plan — (17,093) Issuance of common shares related to the Premier Merger 8,589,685 — Shares at December 31, 2021 29,814,401 1,577,359 Changes related to stock-based compensation awards: Grant of restricted common shares — (216,669) Release of restricted common shares — 39,445 Cancellation of restricted common shares — 5,452 Grant of unrestricted common shares (1,500) Changes related to deferred compensation plan for Boards of Directors: Purchase of treasury stock — 15,688 Disbursed out of treasury stock — (3,039) Common shares repurchased under repurchase program — 263,183 Common shares issued under dividend reinvestment plan 43,519 — Common shares issued under compensation plan for Boards of Directors — (17,626) Common shares issued under employee stock purchase plan — (18,832) Shares at December 31, 2022 29,857,920 1,643,461
Schedule of Dividends Declared	The following table details the cash dividends declared per common share for the year ended December 31: 2022 2021 First Quarter $ 0.36 $ 0.35 Second Quarter 0.38 0.36 Third Quarter 0.38 0.36 Fourth Quarter 0.38 0.36 Total dividends declared $ 1.50 $ 1.43
Schedule of Accumulated Other Comprehensive (Loss) Income	The following details the change in the components of Peoples’ accumulated other comprehensive (loss) income for the years ended December 31: (Dollars in thousands) Unrealized Gain (Loss) on Securities Unrecognized Net Pension and Postretirement Costs Unrealized (Loss) Gain on Cash Flow Hedge Accumulated Other Comprehensive (Loss) Income Balance, December 31, 2019 $ 5,300 $ (3,958) $ (2,767) $ (1,425) Reclassification adjustments to net income: Realized loss on sale of securities, net of tax 291 — — 291 Realized loss due to settlement and curtailment, net of tax — 833 — 833 Other comprehensive income (loss), net of reclassifications and tax 9,001 (747) (6,617) 1,637 Balance, December 31, 2020 $ 14,592 $ (3,872) $ (9,384) $ 1,336 Reclassification adjustments to net income: Realized loss on sale of securities, net of tax 670 — — 670 Realized loss due to settlement and curtailment, net of tax — 111 — 111 Other comprehensive (loss) income, net of reclassifications and tax (21,208) 1,880 5,592 (13,736) Balance, December 31, 2021 $ (5,946) $ (1,881) $ (3,792) $ (11,619) Reclassification adjustments to net income: Realized loss on sale of securities, net of tax 47 — — 47 Realized loss due to settlement and curtailment, net of tax — 142 — 142 Other comprehensive (loss) income, net of reclassifications and tax (123,997) 106 8,185 (115,706) Balance, December 31, 2022 $ (129,896) $ (1,633) $ 4,393 $ (127,136)

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Schedule of Changes in Projected Benefit Obligations and Fair Value of Assets	The following tables provide a reconciliation of the changes in the benefit obligations and fair value of assets of the plans for the years ended December 31, 2022 and 2021, and a statement of the funded status at December 31, 2022 and 2021: Pension Benefits Post-retirement Benefits (Dollars in thousands) 2022 2021 2022 2021 Change in benefit obligation: Obligation at January 1 $ 10,463 $ 12,310 $ 62 $ 71 Interest cost 280 259 1 2 Plan participants’ contributions — — 47 51 Actuarial (gain) loss (2,359) (1,367) (2) 1 Benefit payments (257) (220) (58) (63) Settlements (546) (519) — — Accumulated benefit obligation at December 31 $ 7,581 $ 10,463 $ 50 $ 62 Change in plan assets: Fair value of plan assets at January 1 $ 11,718 $ 10,852 $ — $ — Actual (loss) return on plan assets (1,746) 1,605 — — Employer contributions 2 — 11 12 Plan participants’ contributions — — 47 51 Benefit payments (257) (220) (58) (63) Settlements (546) (519) — — Fair value of plan assets at December 31 $ 9,171 $ 11,718 $ — $ — Funded status at December 31 $ 1,590 $ 1,255 $ (50) $ (62) Amounts recognized in Consolidated Balance Sheets: Prepaid benefit costs $ 1,590 $ 1,255 $ — $ — Accrued benefit liability $ — $ — $ (50) $ (62) Net amount recognized $ 1,590 $ 1,255 $ (50) $ (62) Amounts recognized in Accumulated Other Comprehensive Loss: Unrecognized prior service cost $ — $ — $ — $ — Unrecognized net loss (gain) 1,681 1,861 (48) (37) Total $ 1,681 $ 1,861 $ (48) $ (37) Weighted-average assumptions at year-end: Discount rate 4.98 % 2.71 % 4.98 % 2.71 %
Schedule of Net Periodic Benefit Costs	The following table details the components of the net periodic (benefit) cost for the plans at December 31: Pension Benefits Post-retirement Benefits (Dollars in thousands) 2022 2021 2020 2022 2021 2020 Interest cost $ 280 $ 259 $ 326 $ 1 $ 2 $ 2 Expected return on plan assets (670) (658) (747) — — — Amortization of prior service credit — — — — — — Amortization of net loss (gain) 67 107 132 (4) (4) (5) Settlement of benefit obligation 185 143 1,054 — — — Net periodic (benefit) cost $ (138) $ (149) $ 765 $ (3) $ (2) $ (3) Weighted-average assumptions: Discount rate 3.14 % 2.44 % 2.53 % 2.71 % 2.38 % 3.12 % Expected return on plan assets 7.00 % 7.00 % 7.50 % N/A N/A N/A Rate of compensation increase N/A N/A N/A N/A N/A N/A
Schedule of Allocation of Plan Assets	The following table provides the fair values of investments held in Peoples' pension plan at December 31, by major asset category: (Dollars in thousands) Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) 2022 Equity securities: Mutual funds – equity $ 6,357 $ 6,357 Debt securities: Mutual funds – taxable income 2,439 2,439 Total fair value of pension assets $ 8,796 $ 8,796 2021 Equity securities: Mutual funds – equity $ 8,516 $ 8,516 Debt securities: Mutual funds – taxable income 2,912 2,912 Total fair value of pension assets $ 11,428 $ 11,428
Schedule of Estimated Future Benefit Payments	Estimated future benefit payments, which reflect benefits attributable to estimated future service, for the years ending December 31 are as follows: (Dollars in thousands) Pension Benefits Post-retirement Benefits 2023 $ 1,082 $ 10 2024 843 9 2025 656 7 2026 792 6 2027 659 6 2028 to 2032 2,780 16 Total $ 6,812 $ 54

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The reported income tax expense and effective tax rate in the Consolidated Statements of Income differ from the amounts computed by applying the statutory federal corporate income tax rate as follows for the years ended December 31: (Dollars in thousands) 2022 2021 2020 Amount Rate Amount Rate Amount Rate Income tax computed at statutory federal corporate income tax rate $ 27,015 21.0 % $ 11,954 21.0 % $ 8,956 21.0 % Differences in rate resulting from: State taxes, net of federal benefit 2,277 1.8 % 119 0.2 % 62 0.1 % Investment securities impairment 431 0.3 % — — % — — % Nondeductible acquisition costs 42 — % 269 0.5 % — — % Common share awards 12 — % 74 0.1 % (5) — % Bank owned life insurance (551) (0.4) % (371) (0.6) % (415) (1.0) % Investments in tax credit funds (629) (0.5) % (381) (0.7) % (415) (1.0) % Captive insurance benefit (421) (0.3) % (435) (0.8) % (412) (1.0) % Tax-exempt interest income (921) (0.7) % (835) (1.5) % (668) (1.6) % Fixed asset depreciation — — % (1,142) (2.0) % — — % Other, net 94 0.1 % 163 0.3 % 776 2.0 % Income tax expense $ 27,349 21.3 % $ 9,415 16.5 % $ 7,879 18.5 %
Schedule of Components of Income Tax Expense (Benefit)	Peoples' reported income tax expense consisted of the following for the years ended December 31: (Dollars in thousands) 2022 2021 2020 Current income tax expense $ 8,783 $ 6,541 $ 15,980 Deferred income tax expense (benefit) 18,566 2,874 (8,101) Income tax expense $ 27,349 $ 9,415 $ 7,879
Schedule of Deferred Tax Assets and Liabilities	The significant components of Peoples' deferred tax assets and deferred tax liabilities consisted of the following at December 31: (Dollars in thousands) 2022 2021 Deferred tax assets: Available-for-sale securities $ 39,425 $ 1,905 Allowance for credit losses 12,827 13,575 Nonaccrual loan interest income 4,366 3,898 Accrued employee benefits 3,391 2,161 Lease obligation 1,757 1,960 Net operating loss carryforward 158 223 Tax credit investments — 1,096 Derivative instruments — 1,088 Other 899 561 Gross deferred tax assets $ 62,823 $ 26,467 Valuation allowance $ 158 $ 158 Total deferred tax assets $ 62,665 $ 26,309 Deferred tax liabilities: Equipment leases $ 16,316 $ — Deferred loan income 5,512 5,249 Purchase accounting adjustments 4,431 3,166 Bank premises and equipment 3,206 3,838 Lease right-of-use assets 1,588 1,788 Derivative instruments 1,302 — Other 2,259 662 Total deferred tax liabilities $ 34,614 $ 14,703 Net deferred tax asset $ 28,051 $ 11,606
Schedule of Income Tax Contingencies	The following table provides a reconciliation of uncertain tax positions at December 31: (Dollars in thousands) 2022 2021 Uncertain tax positions, beginning of year $ 106 $ 149 Gross increase based on tax positions related to current year 39 — Gross decrease due to the statute of limitations (56) (43) Uncertain tax positions, end of year $ 89 $ 106

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of Calculations of Basic and Diluted Earnings per Common Share	The calculations of basic and diluted earnings per common share for the years ended December 31 were as follows: (Dollars in thousands, except per common share data) 2022 2021 2020 Net income available to common shareholders $ 101,292 $ 47,555 $ 34,767 Less: Dividends paid on unvested common shares (354) (295) (367) Add: Undistributed loss allocated to unvested common shares (96) (26) (5) Net earnings allocated to common shareholders $ 100,842 $ 47,234 $ 34,395 Weighted-average common shares outstanding 27,908,022 21,816,511 19,721,772 Effect of potentially dilutive common shares 91,580 143,372 122,034 Total weighted-average diluted common shares outstanding 27,999,602 21,959,883 19,843,806 Earnings per common share: Basic $ 3.61 $ 2.17 $ 1.74 Diluted $ 3.60 $ 2.15 $ 1.73 Anti-dilutive common shares excluded from calculation: Restricted shares — 275 64,145

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	The following table summarizes information about the interest rate swaps designated as cash flow hedges at December 31: (Dollars in thousands) 2022 2021 Notional amount $ 125,000 $ 125,000 Weighted average pay rates 2.26 % 2.26 % Weighted average receive rates 4.44 % 1.10 % Weighted average maturity 2.6 years 3.6 years Pre-tax changes in fair value included in AOCI 5,727 (4,879)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table presents changes in fair value recorded in AOCI and in the Consolidated Statements of Income related to the cash flow hedges for the years ended December 31: (Dollars in thousands) 2022 2021 Amount of income recognized in AOCI, pre-tax $ 10,606 $ 6,999
Schedule of Cash Flow Hedges	The following table reflects the cash flow hedges, which were included in the Consolidated Balance Sheets at fair value, at December 31: 2022 2021 (Dollars in thousands) Notional Amount Fair Value Notional Amount Fair Value Included in "Other assets": Interest rate swaps related to debt $ 125,000 $ 5,594 $ — $ — Total included in "Other assets" $ 125,000 $ 5,594 $ — $ — Included in "Accrued expenses and other liabilities": Interest rate swaps related to debt $ — $ — $ 125,000 $ 5,020 Total included in "Accrued expenses and other liabilities" $ — $ — $ 125,000 $ 5,020
Schedule of Derivatives Not Designated as Hedging Instruments	The following table reflects the non-designated hedges, which were included in the Consolidated Balance Sheets at fair value, at December 31: 2022 2021 (Dollars in thousands) Notional Amount Fair Value Notional Amount Fair Value Included in "Other assets": Interest rate swaps related to commercial loans $ 390,126 $ 28,529 $ 419,733 $ 12,163 Total included in "Other assets" 390,126 28,529 419,733 12,163 Included in "Accrued expenses and other liabilities": Interest rate swaps related to commercial loans $ 390,126 $ 28,529 $ 419,733 $ 12,163 Total included in "Accrued expenses and other liabilities" 390,126 28,529 419,733 12,163

Off-Balance Sheet Risk (Tables)

Off-Balance Sheet Risk (Tables)	12 Months Ended
	Dec. 31, 2022
Off-Balance-Sheet, Credit Loss, Liability [Abstract]
Schedule of Loan Commitments and Standby Letters of Credit	The total amounts of loan commitments and standby letters of credit at December 31 were: (Dollars in thousands) 2022 2021 Home equity lines of credit $ 197,995 $ 177,262 Unadvanced construction loans 270,229 227,135 Other loan commitments 730,015 577,170 Loan commitments 1,198,239 981,567 Standby letters of credit $ 15,451 $ 12,805

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2022
Regulatory Matters [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	Peoples' and Peoples Bank's actual capital amounts and ratios at December 31 are also presented in the following table: 2022 2021 (Dollars in thousands) Amount Ratio Amount Ratio PEOPLES Common Equity Tier 1 (a) Actual $ 604,566 11.92 % $ 577,565 12.52 % For capital adequacy 228,206 4.50 % 207,642 4.50 % To be well capitalized 329,631 6.50 % 299,927 6.50 % Tier 1 (b) Actual $ 618,354 12.19 % $ 591,215 12.81 % For capital adequacy 304,274 6.00 % 276,856 6.00 % To be well capitalized 405,699 8.00 % 369,141 8.00 % Total Capital (c) Actual $ 662,421 13.06 % $ 648,948 14.06 % For capital adequacy 405,699 8.00 % 369,141 8.00 % To be well capitalized 507,124 10.00 % 461,426 10.00 % Tier 1 Leverage (d) Actual $ 618,354 8.92 % $ 591,215 8.67 % For capital adequacy 277,302 4.00 % 272,916 4.00 % To be well capitalized 346,628 5.00 % 341,145 5.00 % Capital Conservation Buffer $ 256,722 5.06 % $ 279,807 6.06 % Fully phased in 126,781 2.50 % 115,356 2.50 % Net Risk-Weighted Assets $ 5,071,240 $ 4,614,259 2022 2021 (Dollars in thousands) Amount Ratio Amount Ratio PEOPLES BANK Common Equity Tier 1 (a) Actual $ 593,609 11.72 % $ 566,594 12.30 % For capital adequacy 227,843 4.50 % 207,318 4.50 % To be well capitalized 329,107 6.50 % 299,460 6.50 % Tier 1 (b) Actual $ 593,609 11.72 % $ 566,594 12.30 % For capital adequacy 303,791 6.00 % 276,424 6.00 % To be well capitalized 405,055 8.00 % 368,566 8.00 % Total Capital (c) Actual $ 637,676 12.59 % $ 624,238 13.55 % For capital adequacy 405,055 8.00 % 368,566 8.00 % To be well capitalized 506,318 10.00 % 460,707 10.00 % Tier 1 Leverage (d) Actual $ 593,609 8.58 % $ 566,594 8.32 % For capital adequacy 276,712 4.00 % 272,284 4.00 % To be well capitalized 345,890 5.00 % 340,355 5.00 % Capital Conservation Buffer $ 232,621 4.59 % $ 255,672 5.55 % Fully phased in 126,580 2.50 % 115,177 2.50 % Net Risk-Weighted Assets $ 5,063,183 $ 4,607,072 (a) Ratio represents common equity tier 1 capital to net risk-weighted assets (b) Ratio represents tier 1 capital to net risk-weighted assets (c) Ratio represents total capital to net risk-weighted assets (d) Ratio represents tier 1 capital to average assets

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
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, 2022: 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 88,922 25.44 247,346 32.19 Awarded 62,024 30.88 154,645 32.21 Released (12,424) 32.37 (100,664) 32.20 Forfeited — — (5,452) 32.14 Outstanding at December 31 138,522 27.25 295,875 32.20
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) 2022 2021 2020 Employee stock-based compensation expense: Restricted common share grant expense $ 3,707 $ 3,436 $ 3,556 Employee stock purchase plan expense 112 79 63 Performance stock unit benefit — — (12) Total employee stock-based compensation expense 3,819 3,515 3,607 Non-employee director stock-based compensation expense 506 375 340 Total stock-based compensation expense 4,325 3,890 3,947 Recognized tax benefit (1,007) (867) (818) Net expense recognized $ 3,318 $ 3,023 $ 3,129

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of 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.
Schedule of Contract Assets and Contract Liabilities	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

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table provides the purchase price calculation as of the date of the acquisition of Vantage, and the assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) Fair Value Total purchase price $ 82,893 Net assets at fair value Assets Cash and due from banks $ 1,444 Leases 155,726 Allowance for credit losses (on PCD leases) (801) Net leases 154,925 Bank premises and equipment 116 Other intangible assets 13,207 Other assets 1,506 Total assets $ 171,198 Liabilities Borrowings $ 106,919 Accrued expenses and other liabilities 8,550 Total liabilities $ 115,469 Net assets $ 55,729 Goodwill $ 27,164 The following table provides the purchase price calculation as of the date of the Premier Merger, and the assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) Unpaid Principal Balance Fair Value Premier common shares 14,811,200 Number of common shares of Peoples issued for each common share of Premier 0.58 Price per Peoples common share, based at closing date $ 30.49 Common share consideration 261,899 Cash paid in lieu of fractional common shares 25 Total consideration $ 261,924 Net assets at fair value Assets Cash and due from banks $ 248,360 Interest-bearing deposits in other banks 1,025 Total cash and cash equivalents 249,385 Available-for-sale investment securities 551,953 Other investment securities 4,159 Total investment securities 556,112 Loans: Construction 97,262 96,025 Commercial real estate, other 544,950 534,869 Commercial and industrial 132,293 131,979 Residential real estate 332,269 331,544 Home equity lines of credit 46,969 45,910 Consumer 20,961 21,513 Total loans 1,174,704 1,161,840 Allowance for credit losses (on PCD Loans) (15,513) Net loans 1,146,327 Bank premises and equipment 30,098 Other intangible assets 4,233 OREO 11,081 (Dollars in thousands) Unpaid Principal Balance Fair Value Other assets 26,982 Total assets $ 2,024,218 Liabilities Deposits: Non-interest-bearing $ 733,157 Interest-bearing 1,018,387 Total deposits 1,751,544 Short-term borrowings 63,807 Long-term borrowings 6,070 Accrued expenses and other liabilities 7,813 Total liabilities 1,829,234 Net assets 194,984 Goodwill $ 66,940 (Dollars in thousands) Total purchase price (a) $ 118,846 Net assets at fair value Assets Cash and due from banks $ 216 Net leases 82,833 Bank premises and equipment, net of accumulated depreciation 470 Other intangible assets 14,009 Other assets 1,225 Total assets $ 98,753 Liabilities Accrued expenses and other liabilities $ 4,627 Total liabilities $ 4,627 Net assets $ 94,126 Goodwill $ 24,720 (a) Includes estimated contingent consideration related to the bonus earn-out provision of $2.3 million. Peoples recorded an additional $0.7 million in non-interest expense in 2021 related to an update to the estimated earn-out provision.
Schedule of Purchased Credit Deteriorated Leases	The following table details the fair value adjustment for acquired PCD leases as of the acquisition date: (Dollars in thousands) Par Value Allowance for Credit Losses Non-Credit Premium Fair Value PCD leases Leases $ 3,412 $ (801) $ 1,120 $ 3,731 Fair value $ 3,412 $ (801) $ 1,120 $ 3,731 The following table details the fair value adjustment for acquired PCD leases as of the acquisition date: (Dollars in thousands) NSL PCD leases Par value $ 5,248 Allowance for credit losses (493) Non-credit premium 85 Fair value $ 4,840
Schedule of Purchased Credit Deteriorated Loans	The following table details the fair value adjustment for acquired PCD loans as of the acquisition date: (Dollars in thousands) Par Value Allowance for Credit Losses Non-Credit (Discount) Premium Fair Value PCD loans Construction $ 20,143 $ (2,005) $ (214) $ 17,924 Commercial real estate, other 97,193 (9,053) (2,123) 86,017 Commercial and industrial 9,948 (3,630) 113 6,431 Residential real estate 18,349 (696) (251) 17,402 Home equity lines of credit 1,291 (55) (72) 1,164 Consumer 929 (74) 37 892 Fair value $ 147,853 $ (15,513) $ (2,510) $ 129,830

Parent Company Only Financial_2

Parent Company Only Financial Information (Tables)	12 Months Ended
	Dec. 31, 2022
Parent Company Only Financial Information [Abstract]
Schedule of Condensed Balance Sheet	Condensed Balance Sheets December 31, (Dollars in thousands) 2022 2021 Assets: Cash and due from other banks $ 50 $ 50 Interest-bearing deposits in subsidiary bank 14,961 15,202 Due from subsidiary bank 1,353 547 Other investment securities 234 220 Investments in subsidiaries: Bank 774,294 834,037 Non-bank 11,944 12,278 Other assets 2,877 5,248 Total assets $ 805,713 $ 867,582 Liabilities: Accrued expenses and other liabilities $ 3,336 $ 5,660 Dividends payable 781 767 Mandatorily redeemable capital securities of subsidiary trusts 16,268 16,130 Total liabilities 20,385 22,557 Total stockholders' equity 785,328 845,025 Total liabilities and stockholders' equity $ 805,713 $ 867,582
Schedule of Condensed Income Statement	Condensed Statements of Income Year Ended December 31, (Dollars in thousands) 2022 2021 2020 Income: Dividends from subsidiary bank $ 52,000 $ 29,000 $ 49,000 Dividends from non-bank subsidiary 1,860 1,750 — Interest and other income 39 73 16 Total income 53,899 30,823 49,016 Expense: Trust preferred securities expense 744 367 373 Intercompany management fees 1,379 1,303 1,369 Other expense 6,539 5,675 5,376 Total expense 8,662 7,345 7,118 Income before federal income taxes and equity in undistributed earnings of subsidiaries 45,237 23,478 41,898 Applicable income tax expense (1,979) (1,295) (1,128) Equity in (excess dividends from) undistributed earnings of subsidiaries 54,076 22,782 (8,259) Net income $ 101,292 $ 47,555 $ 34,767
Schedule of Condensed Cash Flow Statement	Statements of Cash Flows Year Ended December 31, (Dollars in thousands) 2022 2021 2020 Operating activities Net income $ 101,292 $ 47,555 $ 34,767 Adjustments to reconcile net income to cash provided by operations: Depreciation, amortization and accretion, net 138 6,224 161 (Equity in) excess dividends from undistributed earnings of subsidiaries (54,076) (22,782) 8,259 Gain on investment securities — — (8) Other, net 5,008 3,930 8,492 Net cash provided by operating activities 52,362 34,927 51,671 Investing activities Net proceeds from sales and maturities of investment securities — 10 10 Investment in subsidiaries (13,084) (16,282) (35,238) Decrease in receivable from subsidiary 12,279 16,344 34,719 Business combinations, net of cash received (1,239) (710) — Other, net (262) (1,998) (76) Net cash used in investing activities (2,306) (2,636) (585) Financing activities Purchase of treasury stock (9,152) (1,306) (30,409) Proceeds from issuance of common shares 1,226 906 594 Cash dividends paid (42,371) (31,002) (27,052) Net cash used in financing activities (50,297) (31,402) (56,867) Net (decrease) increase in cash and cash equivalents (241) 889 (5,781) Cash and cash equivalents at the beginning of year 15,252 14,363 20,144 Cash and cash equivalents at the end of year $ 15,011 $ 15,252 $ 14,363 Supplemental cash flow information: Interest paid $ 663 $ 331 $ 385

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) segment revenue_stream	Dec. 31, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable operating segment | segment	1
Restricted cash	$ 0	$ 0
Individual review of impairment of unpaid principal balances in excess of	1,000,000
Aggregate credit exposure threshold	1,000,000
Unamortized amount of investments	15,100,000	16,600,000
Other real estate owned ("OREO")	$ 8,900,000	$ 9,500,000
Number of revenue streams | revenue_stream	2
Payment terms with vendor	45 days
U.S. government sponsored agencies
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Loss given default	0%
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated lives	7 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Estimated lives	10 years

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Assets Measure at Fair Value Recurring (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Assets:
Available-for-sale securities	[1]	$ 1,131,399	$ 1,275,493
U.S. Treasury and government agencies
Assets:
Available-for-sale securities		152,422	35,604
U.S. government sponsored agencies
Assets:
Available-for-sale securities		88,115	81,739
States and political subdivisions
Assets:
Available-for-sale securities		225,882	259,319
Residential mortgage-backed securities
Assets:
Available-for-sale securities		604,653	828,517
Commercial mortgage-backed securities
Assets:
Available-for-sale securities		50,049	63,519
Bank-issued trust preferred securities
Assets:
Available-for-sale securities		10,278	6,795
Recurring Basis | Level 1
Assets:
Available-for-sale securities		152,422	35,604
Equity investment securities		147	160
Derivative asset		0	0
Liabilities:
Derivative liabilities		0	0
Recurring Basis | Level 2
Assets:
Available-for-sale securities		978,977	1,239,889
Equity investment securities		199	184
Derivative asset		34,123	12,163
Liabilities:
Derivative liabilities		$ 28,529	$ 17,183
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other assets	Other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Accrued expenses and other liabilities	Accrued expenses and other liabilities
Recurring Basis | U.S. Treasury and government agencies | Level 1
Assets:
Available-for-sale securities		$ 152,422	$ 35,604
Recurring Basis | U.S. Treasury and government agencies | Level 2
Assets:
Available-for-sale securities		0	0
Recurring Basis | U.S. government sponsored agencies | Level 1
Assets:
Available-for-sale securities		0	0
Recurring Basis | U.S. government sponsored agencies | Level 2
Assets:
Available-for-sale securities		88,115	81,739
Recurring Basis | States and political subdivisions | Level 1
Assets:
Available-for-sale securities		0	0
Recurring Basis | States and political subdivisions | Level 2
Assets:
Available-for-sale securities		225,882	259,319
Recurring Basis | Residential mortgage-backed securities | Level 1
Assets:
Available-for-sale securities		0	0
Recurring Basis | Residential mortgage-backed securities | Level 2
Assets:
Available-for-sale securities		604,653	828,517
Recurring Basis | Commercial mortgage-backed securities | Level 1
Assets:
Available-for-sale securities		0	0
Recurring Basis | Commercial mortgage-backed securities | Level 2
Assets:
Available-for-sale securities		50,049	63,519
Recurring Basis | Bank-issued trust preferred securities | Level 1
Assets:
Available-for-sale securities		0	0
Recurring Basis | Bank-issued trust preferred securities | Level 2
Assets:
Available-for-sale securities		$ 10,278	$ 6,795
[1]Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $241, respectively, as of December 31, 2022 and $0 and $286, respectively, at December 31, 2021.

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Fair Value Measurements, Nonrecurring (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value
Other real estate owned ("OREO")	$ 8,900	$ 9,500
Servicing rights	1,816	2,218	$ 2,486	$ 2,742
Allowance for credit loss	53,162	63,967	$ 50,359
Allowance on servicing rights	1	12
Nonrecurring Basis | Level 2
Fair Value
Loans held for sale	1,254	418
Other real estate owned ("OREO")	0	0
Servicing rights	0	0
Allowance for credit loss	105	0
Nonrecurring Basis | Level 2 | Collateral Dependent Loan
Fair Value
Collateral dependent loans	0	0
Nonrecurring Basis | Level 3
Fair Value
Loans held for sale	0	0
Other real estate owned ("OREO")	55	87
Servicing rights	0	22
Nonrecurring Basis | Level 3 | Collateral Dependent Loan
Fair Value
Collateral dependent loans	$ 10,354	$ 430

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of Fair Values of Financial Assets and Liabilities on Balance Sheets (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets:
Carrying Amount		$ 560,453	$ 374,415
Fair Value		478,509	369,955
Loans and leases, net of deferred fees and cost	[1]	4,707,150	4,481,600
Financial liabilities:
Debt securities held to maturity, allowance for credit loss		241	286
Allowance for credit loss		53,162	63,967	$ 50,359
Carrying Amount
Assets:
Carrying Amount		560,453	374,415
Federal Home Loan Bank ("FHLB") stock		26,605	17,308
Federal Reserve Bank ("FRB") stock		21,231	13,311
Total other investment securities at cost		47,836	30,619
Other investment securities		51,263	33,643
Carrying Amount | Level 1
Assets:
Cash and cash equivalents		154,022	415,727
Carrying Amount | Level 2
Assets:
Bank owned life insurance		105,292	73,358
Financial liabilities:
Deposits		5,716,941	5,862,552
Short-term borrowings		500,138	166,482
Long-term borrowings		101,093	99,475
Carrying Amount | Level 3
Assets:
Loans and leases, net of deferred fees and cost		4,707,150	4,481,600
Estimate of Fair Value Measurement
Assets:
Fair Value		478,509	369,955
Federal Home Loan Bank ("FHLB") stock		26,605	17,308
Federal Reserve Bank ("FRB") stock		21,231	13,311
Total other investment securities at cost		47,836	30,619
Other investment securities		51,263	33,643
Estimate of Fair Value Measurement | Level 1
Assets:
Cash and cash equivalents		154,022	415,727
Estimate of Fair Value Measurement | Level 2
Assets:
Bank owned life insurance		105,292	73,358
Financial liabilities:
Deposits		4,682,491	5,546,552
Short-term borrowings		504,584	164,990
Long-term borrowings		101,992	101,664
Estimate of Fair Value Measurement | Level 3
Assets:
Loans and leases, net of deferred fees and costs, fair value		4,516,695	4,510,605
U.S. government sponsored agencies
Assets:
Carrying Amount		132,366	36,431
Fair Value		123,020	35,513
Financial liabilities:
Debt securities held to maturity, allowance for credit loss		0	0
U.S. government sponsored agencies | Carrying Amount | Level 2
Assets:
Carrying Amount		132,366	36,431
U.S. government sponsored agencies | Estimate of Fair Value Measurement | Level 2
Assets:
Fair Value		123,020	35,513
States and political subdivisions
Assets:
Carrying Amount		145,263	151,688
Fair Value		108,776	150,138
Financial liabilities:
Debt securities held to maturity, allowance for credit loss		241	286
States and political subdivisions | Carrying Amount | Level 2
Assets:
Carrying Amount		145,263	151,688
States and political subdivisions | Estimate of Fair Value Measurement | Level 2
Assets:
Fair Value		108,776	150,138
Residential mortgage-backed securities
Assets:
Carrying Amount		176,215	110,708
Fair Value		157,998	110,159
Financial liabilities:
Debt securities held to maturity, allowance for credit loss		0	0
Residential mortgage-backed securities | Carrying Amount | Level 2
Assets:
Carrying Amount		176,215	110,708
Residential mortgage-backed securities | Estimate of Fair Value Measurement | Level 2
Assets:
Fair Value		157,998	110,159
Commercial mortgage-backed securities
Assets:
Carrying Amount		106,609	75,588
Fair Value		88,715	74,145
Financial liabilities:
Debt securities held to maturity, allowance for credit loss		0	0
Commercial mortgage-backed securities | Carrying Amount | Level 2
Assets:
Carrying Amount		101,861	75,588
Commercial mortgage-backed securities | Carrying Amount | Level 3
Assets:
Carrying Amount		4,748	0
Commercial mortgage-backed securities | Estimate of Fair Value Measurement | Level 2
Assets:
Fair Value		85,354	74,145
Commercial mortgage-backed securities | Estimate of Fair Value Measurement | Level 3
Assets:
Fair Value		3,361	0
Nonqualified Plan | Carrying Amount | Level 1
Assets:
Total other investment securities at fair value		2,048	2,240
Nonqualified Plan | Estimate of Fair Value Measurement | Level 1
Assets:
Total other investment securities at fair value		2,048	2,240
Other Security Investments | Carrying Amount | Level 2
Assets:
Total other investment securities at fair value		1,379	784
Other Security Investments | Estimate of Fair Value Measurement | Level 2
Assets:
Total other investment securities at fair value		$ 1,379	$ 784
[1]Also referred to throughout this Form 10-K as "total loans" and "loans held for investment."

Investment Securities - Availab

Investment Securities - Available-for-sale Securities (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities
Amortized cost		$ 1,300,719	$ 1,283,146
Gross Unrealized Gains		1,104	10,079
Gross Unrealized Losses		(170,424)	(17,732)
Available-for-sale securities	[1]	1,131,399	1,275,493
U.S. Treasury and government agencies
Schedule of Available-for-sale Securities
Amortized cost		158,473	35,609
Gross Unrealized Gains		0	12
Gross Unrealized Losses		(6,051)	(17)
Available-for-sale securities		152,422	35,604
U.S. government sponsored agencies
Schedule of Available-for-sale Securities
Amortized cost		101,753	83,019
Gross Unrealized Gains		18	58
Gross Unrealized Losses		(13,656)	(1,338)
Available-for-sale securities		88,115	81,739
States and political subdivisions
Schedule of Available-for-sale Securities
Amortized cost		261,612	259,508
Gross Unrealized Gains		12	3,187
Gross Unrealized Losses		(35,742)	(3,376)
Available-for-sale securities		225,882	259,319
Residential mortgage-backed securities
Schedule of Available-for-sale Securities
Amortized cost		707,025	833,328
Gross Unrealized Gains		1,017	6,565
Gross Unrealized Losses		(103,389)	(11,376)
Available-for-sale securities		604,653	828,517
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities
Amortized cost		61,091	64,971
Gross Unrealized Gains		0	42
Gross Unrealized Losses		(11,042)	(1,494)
Available-for-sale securities		50,049	63,519
Bank-issued trust preferred securities
Schedule of Available-for-sale Securities
Amortized cost		10,765	6,711
Gross Unrealized Gains		57	215
Gross Unrealized Losses		(544)	(131)
Available-for-sale securities		$ 10,278	$ 6,795
[1]Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $241, respectively, as of December 31, 2022 and $0 and $286, respectively, at December 31, 2021.

Investment Securities - Avail_2

Investment Securities - Available-for-sale Securities Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Gross gains realized	$ 314	$ 1,184	$ 655
Gross losses realized	375	2,046	1,023
Net (loss) gain realized	$ (61)	$ (862)	$ (368)

Investment Securities - Avail_3

Investment Securities - Available-for-sale Securities with Unrealized Loss (Details) $ in Thousands	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	$ 299,453	$ 826,981
Less than 12 months, unrealized loss	$ 12,051	$ 13,838
Less than 12 months, Number of securities | security	254	225
12 months or more, fair value	$ 803,481	$ 87,688
12 months or more, unrealized loss	$ 158,373	$ 3,894
12 months or more, Number of securities | security	308	27
Total fair value	$ 1,102,934	$ 914,669
Total unrealized loss	170,424	17,732
U.S. Treasury and government agencies
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	112,730	16,914
Less than 12 months, unrealized loss	$ 2,772	$ 17
Less than 12 months, Number of securities | security	13	6
12 months or more, fair value	$ 39,692	$ 0
12 months or more, unrealized loss	$ 3,279	$ 0
12 months or more, Number of securities | security	11	0
Total fair value	$ 152,422	$ 16,914
Total unrealized loss	6,051	17
U.S. government sponsored agencies
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	15,166	72,406
Less than 12 months, unrealized loss	$ 249	$ 1,192
Less than 12 months, Number of securities | security	17	13
12 months or more, fair value	$ 66,706	$ 4,854
12 months or more, unrealized loss	$ 13,407	$ 146
12 months or more, Number of securities | security	18	1
Total fair value	$ 81,872	$ 77,260
Total unrealized loss	13,656	1,338
States and political subdivisions
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	60,324	101,397
Less than 12 months, unrealized loss	$ 714	$ 2,075
Less than 12 months, Number of securities | security	114	71
12 months or more, fair value	$ 156,900	$ 30,853
12 months or more, unrealized loss	$ 35,028	$ 1,301
12 months or more, Number of securities | security	117	11
Total fair value	$ 217,224	$ 132,250
Total unrealized loss	35,742	3,376
Residential mortgage-backed securities
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	104,959	573,139
Less than 12 months, unrealized loss	$ 8,087	$ 9,051
Less than 12 months, Number of securities | security	105	113
12 months or more, fair value	$ 488,452	$ 51,103
12 months or more, unrealized loss	$ 95,302	$ 2,325
12 months or more, Number of securities | security	139	14
Total fair value	$ 593,411	$ 624,242
Total unrealized loss	103,389	11,376
Commercial mortgage-backed securities
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	1,874	60,134
Less than 12 months, unrealized loss	$ 129	$ 1,494
Less than 12 months, Number of securities | security	2	21
12 months or more, fair value	$ 48,175	$ 0
12 months or more, unrealized loss	$ 10,913	$ 0
12 months or more, Number of securities | security	21	0
Total fair value	$ 50,049	$ 60,134
Total unrealized loss	11,042	1,494
Bank-issued trust preferred securities
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	4,400	2,991
Less than 12 months, unrealized loss	$ 100	$ 9
Less than 12 months, Number of securities | security	3	1
12 months or more, fair value	$ 3,556	$ 878
12 months or more, unrealized loss	$ 444	$ 122
12 months or more, Number of securities | security	2	1
Total fair value	$ 7,956	$ 3,869
Total unrealized loss	$ 544	$ 131

Investment Securities - Narrati

Investment Securities - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) security position	Dec. 31, 2021 USD ($) security
Schedule of Available-for-sale Securities
Debt securities available for sale, allowance for credit loss	$ 0	$ 0
12 months or more, Number of securities | security	308	27
Blended federal and state corporate tax rate	23.30%
Gross gains (losses) from sales of held to maturity	$ 0	$ 0
Proceeds from sale of federal home loan bank stock	2,600,000	8,200,000
Purchase of FHLB stock	11,900,000	3,800,000
Purchase of FRB stock	7,900,000
Unrealized gain	$ 2,000	$ 111,000
Mortgage-backed securities issued by US Government sponsored agencies
Schedule of Available-for-sale Securities
Percentage of mortgage-backed securities in unrealized loss position for less than 12 months	99%
Mortgage-backed securities privately issued
Schedule of Available-for-sale Securities
Percentage of mortgage-backed securities in unrealized loss position for less than 12 months	1%
12 months or more, Number of securities | position	4
12 months or more, Number of securities with fair value less than 90% of book value | position	3
Fair value within book value	90%
Bank-issued trust preferred securities
Schedule of Available-for-sale Securities
12 months or more, Number of securities | security	2	1
Securities Investment
Schedule of Available-for-sale Securities
Interest receivable	$ 7,800,000	$ 5,500,000

Investment Securities - Avail_4

Investment Securities - Available-for-sale Securities by Maturities (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities
Amortized cost of securities maturing within 1 year		$ 88,580
Amortized cost of securities maturing in 1-5 years		205,258
Amortized cost of securities maturing in 5-10 years		209,989
Amortized cost of securities maturing in over 10 years		796,892
Amortized cost		1,300,719	$ 1,283,146
Fair value of securities maturing within 1 year		87,300
Fair value of securities maturing in 1-5 years		193,848
Fair value of securities maturing in 5-10 years		179,505
Fair value of securities maturing in over 10 years		670,746
Debt securities	[1]	$ 1,131,399	1,275,493
Average yield of securities maturing within 1 year		2.32%
Average yield of securities maturing in 1-5 years		2.07%
Average yield of securities maturing in 5-10 years		1.71%
Average yield of securities maturing in over 10 years		1.82%
Available-for-sale securities, total weighted average yield		1.88%
U.S. Treasury and government agencies
Schedule of Available-for-sale Securities
Amortized cost of securities maturing within 1 year		$ 53,010
Amortized cost of securities maturing in 1-5 years		105,463
Amortized cost of securities maturing in 5-10 years		0
Amortized cost of securities maturing in over 10 years		0
Amortized cost		158,473	35,609
Fair value of securities maturing within 1 year		51,957
Fair value of securities maturing in 1-5 years		100,465
Fair value of securities maturing in 5-10 years		0
Fair value of securities maturing in over 10 years		0
Debt securities		152,422	35,604
U.S. government sponsored agencies
Schedule of Available-for-sale Securities
Amortized cost of securities maturing within 1 year		7,028
Amortized cost of securities maturing in 1-5 years		41,440
Amortized cost of securities maturing in 5-10 years		45,016
Amortized cost of securities maturing in over 10 years		8,269
Amortized cost		101,753	83,019
Fair value of securities maturing within 1 year		6,933
Fair value of securities maturing in 1-5 years		37,643
Fair value of securities maturing in 5-10 years		37,513
Fair value of securities maturing in over 10 years		6,026
Debt securities		88,115	81,739
States and political subdivisions
Schedule of Available-for-sale Securities
Amortized cost of securities maturing within 1 year		27,434
Amortized cost of securities maturing in 1-5 years		48,406
Amortized cost of securities maturing in 5-10 years		69,824
Amortized cost of securities maturing in over 10 years		115,948
Amortized cost		261,612	259,508
Fair value of securities maturing within 1 year		27,312
Fair value of securities maturing in 1-5 years		46,152
Fair value of securities maturing in 5-10 years		58,275
Fair value of securities maturing in over 10 years		94,143
Debt securities		225,882	259,319
Residential mortgage-backed securities
Schedule of Available-for-sale Securities
Amortized cost of securities maturing within 1 year		18
Amortized cost of securities maturing in 1-5 years		1,595
Amortized cost of securities maturing in 5-10 years		57,748
Amortized cost of securities maturing in over 10 years		647,664
Amortized cost		707,025	833,328
Fair value of securities maturing within 1 year		18
Fair value of securities maturing in 1-5 years		1,524
Fair value of securities maturing in 5-10 years		52,232
Fair value of securities maturing in over 10 years		550,879
Debt securities		604,653	828,517
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities
Amortized cost of securities maturing within 1 year		1,090
Amortized cost of securities maturing in 1-5 years		4,089
Amortized cost of securities maturing in 5-10 years		30,901
Amortized cost of securities maturing in over 10 years		25,011
Amortized cost		61,091	64,971
Fair value of securities maturing within 1 year		1,080
Fair value of securities maturing in 1-5 years		3,751
Fair value of securities maturing in 5-10 years		25,520
Fair value of securities maturing in over 10 years		19,698
Debt securities		50,049	63,519
Bank-issued trust preferred securities
Schedule of Available-for-sale Securities
Amortized cost of securities maturing within 1 year		0
Amortized cost of securities maturing in 1-5 years		4,265
Amortized cost of securities maturing in 5-10 years		6,500
Amortized cost of securities maturing in over 10 years		0
Amortized cost		10,765	6,711
Fair value of securities maturing within 1 year		0
Fair value of securities maturing in 1-5 years		4,313
Fair value of securities maturing in 5-10 years		5,965
Fair value of securities maturing in over 10 years		0
Debt securities		$ 10,278	$ 6,795
[1]Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $241, respectively, as of December 31, 2022 and $0 and $286, respectively, at December 31, 2021.

Investment Securities - Held-to

Investment Securities - Held-to-maturity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities
Amortized Cost	$ 560,453	$ 374,415
Allowance for Credit Losses	(241)	(286)
Gross Unrealized Gains	536	1,644
Gross Unrealized Losses	(82,239)	(5,818)
Fair Value	478,509	369,955
U.S. government sponsored agencies
Schedule of Held-to-maturity Securities
Amortized Cost	132,366	36,431
Allowance for Credit Losses	0	0
Gross Unrealized Gains	130	86
Gross Unrealized Losses	(9,476)	(1,004)
Fair Value	123,020	35,513
States and political subdivisions
Schedule of Held-to-maturity Securities
Amortized Cost	145,263	151,688
Allowance for Credit Losses	(241)	(286)
Gross Unrealized Gains	162	1,006
Gross Unrealized Losses	(36,408)	(2,270)
Fair Value	108,776	150,138
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities
Amortized Cost	176,215	110,708
Allowance for Credit Losses	0	0
Gross Unrealized Gains	244	370
Gross Unrealized Losses	(18,461)	(919)
Fair Value	157,998	110,159
Commercial mortgage-backed securities
Schedule of Held-to-maturity Securities
Amortized Cost	106,609	75,588
Allowance for Credit Losses	0	0
Gross Unrealized Gains	0	182
Gross Unrealized Losses	(17,894)	(1,625)
Fair Value	$ 88,715	$ 74,145

Investment Securities - Held-_2

Investment Securities - Held-to-maturity Securities with Unrealized Loss (Details) $ in Thousands	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Schedule of Held-to-maturity Securities
Fair value of securities in unrealized loss position less than 12 months	$ 161,946	$ 235,557
Unrealized loss less than 12 months	$ 5,277	$ 4,089
Number of securities at an unrealized loss position less than 12 months | security	49	78
Fair value of securities in unrealized loss more than 12 months	$ 265,877	$ 41,963
Unrealized loss more than 12 months	$ 76,962	$ 1,729
Number of securities at an unrealized loss position more than 12 months | security	120	8
Total fair value	$ 427,823	$ 277,520
Total Unrealized Loss	82,239	5,818
U.S. government sponsored agencies
Schedule of Held-to-maturity Securities
Fair value of securities in unrealized loss position less than 12 months	59,905	17,328
Unrealized loss less than 12 months	$ 651	$ 504
Number of securities at an unrealized loss position less than 12 months | security	17	6
Fair value of securities in unrealized loss more than 12 months	$ 29,306	$ 14,635
Unrealized loss more than 12 months	$ 8,825	$ 500
Number of securities at an unrealized loss position more than 12 months | security	9	2
Total fair value	$ 89,211	$ 31,963
Total Unrealized Loss	9,476	1,004
States and political subdivisions
Schedule of Held-to-maturity Securities
Fair value of securities in unrealized loss position less than 12 months	3,590	61,954
Unrealized loss less than 12 months	$ 1,072	$ 1,041
Number of securities at an unrealized loss position less than 12 months | security	3	34
Fair value of securities in unrealized loss more than 12 months	$ 101,863	$ 27,328
Unrealized loss more than 12 months	$ 35,336	$ 1,229
Number of securities at an unrealized loss position more than 12 months | security	64	6
Total fair value	$ 105,453	$ 89,282
Total Unrealized Loss	36,408	2,270
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities
Fair value of securities in unrealized loss position less than 12 months	71,582	88,937
Unrealized loss less than 12 months	$ 2,904	$ 919
Number of securities at an unrealized loss position less than 12 months | security	21	17
Fair value of securities in unrealized loss more than 12 months	$ 72,862	$ 0
Unrealized loss more than 12 months	$ 15,557	$ 0
Number of securities at an unrealized loss position more than 12 months | security	18	0
Total fair value	$ 144,444	$ 88,937
Total Unrealized Loss	18,461	919
Commercial mortgage-backed securities
Schedule of Held-to-maturity Securities
Fair value of securities in unrealized loss position less than 12 months	26,869	67,338
Unrealized loss less than 12 months	$ 650	$ 1,625
Number of securities at an unrealized loss position less than 12 months | security	8	21
Fair value of securities in unrealized loss more than 12 months	$ 61,846	$ 0
Unrealized loss more than 12 months	$ 17,244	$ 0
Number of securities at an unrealized loss position more than 12 months | security	29	0
Total fair value	$ 88,715	$ 67,338
Total Unrealized Loss	$ 17,894	$ 1,625

Investment Securities - Held-_3

Investment Securities - Held-to-maturity Securities by Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Schedule of Held-to-maturity Securities
Debt securities, maturing within 1 year, amortized cost	$ 2,125
Debt securities, maturing 1 to 5 years, amortized cost	38,285
Debt securities, maturing 5 to 10 years, amortized cost	89,728
Debt securities, maturing over 10 years, amortized cost	430,315
Amortized cost	560,453	$ 374,415
Debt securities, maturing within 1 year, fair value	2,093
Debt securities, maturing 1 to 5 years, fair value	36,183
Debt securities, maturing 5 to 10 years, fair value	83,961
Debt securities, maturing over 10 years, fair value	356,272
Fair Value	$ 478,509	369,955
Held-to-maturity securities, maturing within 1 year, weighted average yield	0.98%
Held-to-maturity securities, maturing 1 to 5 years, weighted average yield	1.97%
Held-to-maturity securities, maturing 6 to 10 years, weighted average yield	4.17%
Held-to-maturity securities, maturing over 10 years, weighted average yield	3.02%
Held-to-maturity securities, total weighted average yield	3.12%
U.S. government sponsored agencies
Schedule of Held-to-maturity Securities
Debt securities, maturing within 1 year, amortized cost	$ 2,125
Debt securities, maturing 1 to 5 years, amortized cost	20,012
Debt securities, maturing 5 to 10 years, amortized cost	48,883
Debt securities, maturing over 10 years, amortized cost	61,346
Amortized cost	132,366	36,431
Debt securities, maturing within 1 year, fair value	2,093
Debt securities, maturing 1 to 5 years, fair value	19,194
Debt securities, maturing 5 to 10 years, fair value	48,320
Debt securities, maturing over 10 years, fair value	53,413
Fair Value	123,020	35,513
States and political subdivisions
Schedule of Held-to-maturity Securities
Debt securities, maturing within 1 year, amortized cost	0
Debt securities, maturing 1 to 5 years, amortized cost	5,211
Debt securities, maturing 5 to 10 years, amortized cost	9,407
Debt securities, maturing over 10 years, amortized cost	130,645
Amortized cost	145,263	151,688
Debt securities, maturing within 1 year, fair value	0
Debt securities, maturing 1 to 5 years, fair value	4,857
Debt securities, maturing 5 to 10 years, fair value	7,809
Debt securities, maturing over 10 years, fair value	96,110
Fair Value	108,776	150,138
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities
Debt securities, maturing within 1 year, amortized cost	0
Debt securities, maturing 1 to 5 years, amortized cost	1,036
Debt securities, maturing 5 to 10 years, amortized cost	0
Debt securities, maturing over 10 years, amortized cost	175,179
Amortized cost	176,215	110,708
Debt securities, maturing within 1 year, fair value	0
Debt securities, maturing 1 to 5 years, fair value	1,006
Debt securities, maturing 5 to 10 years, fair value	0
Debt securities, maturing over 10 years, fair value	156,992
Fair Value	157,998	110,159
Commercial mortgage-backed securities
Schedule of Held-to-maturity Securities
Debt securities, maturing within 1 year, amortized cost	0
Debt securities, maturing 1 to 5 years, amortized cost	12,026
Debt securities, maturing 5 to 10 years, amortized cost	31,438
Debt securities, maturing over 10 years, amortized cost	63,145
Amortized cost	106,609	75,588
Debt securities, maturing within 1 year, fair value	0
Debt securities, maturing 1 to 5 years, fair value	11,126
Debt securities, maturing 5 to 10 years, fair value	27,832
Debt securities, maturing over 10 years, fair value	49,757
Fair Value	$ 88,715	$ 74,145

Investment Securities - Other I

Investment Securities - Other Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Investments Carrying Value [Line Items]
Total other investment securities	$ 51,609	$ 33,987
Carrying Amount
Other Investments Carrying Value [Line Items]
FHLB stock	26,605	17,308
FRB stock	21,231	13,311
Nonqualified deferred compensation	2,048	2,240
Equity investment securities	346	344
Other investment securities	$ 1,379	$ 784

Investment Securities - Pledged

Investment Securities - Pledged Securities (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Held-to-maturity	[1]	$ 560,212	$ 374,129
Asset Pledged as Collateral | Securing public and trust department deposits, and repurchase agreements:
Debt Securities, Available-for-sale [Line Items]
Available-for-sale		779,244	795,496
Held-to-maturity		312,921	160,643
Asset Pledged as Collateral | Securing collateral for cash flow hedge swaps:
Debt Securities, Available-for-sale [Line Items]
Available-for-sale		0	18,208
Held-to-maturity		0	9,936
Asset Pledged as Collateral | Securing additional borrowing capacity at the FHLB and the FRB:
Debt Securities, Available-for-sale [Line Items]
Available-for-sale		3,972	6,504
Held-to-maturity		$ 128,870	$ 549
[1]Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $241, respectively, as of December 31, 2022 and $0 and $286, respectively, at December 31, 2021.

Loans and Leases - Loan Balance

Loans and Leases - Loan Balances By Classification (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Loans
Loans	[1]	$ 4,707,150	$ 4,481,600
Deferred loan costs		20,500	13,500
Allowance for credit losses on loans
Loans
Loans		4,707,150	4,481,600
Construction
Loans
Loans		246,941	210,232
Commercial real estate, other
Loans
Loans		1,423,518	1,550,081
Commercial and industrial
Loans
Loans		892,634	891,392
Premium finance
Loans
Loans		159,197	136,136
Leases
Loans
Loans		345,131	122,508
Residential real estate
Loans
Loans		723,360	771,718
Home equity lines of credit
Loans
Loans		177,858	163,593
Consumer, indirect
Loans
Loans		629,426	530,532
Consumer, direct
Loans
Loans		108,363	104,652
Deposit account overdrafts
Loans
Loans		$ 722	$ 756
[1]Also referred to throughout this Form 10-K as "total loans" and "loans held for investment."

Loans and Leases - Narrative (D

Loans and Leases - Narrative (Details) - USD ($)					12 Months Ended
		Mar. 07, 2022	Sep. 17, 2021	Apr. 01, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans	[1]				$ 4,707,150,000	$ 4,481,600,000
Percent of loans considered current					98.60%	98.80%
Individual review of impairment of unpaid principal balances in excess of					$ 1,000,000
Aggregate credit exposure threshold					1,000,000
Additional commitments to lend funds to debtors whose terms have been modified in a TDR					$ 0
Allowance for credit loss, percent of outstanding					1.43%	1.13%
Credit loss, liability					$ 2,000,000	$ 2,500,000
Net charge-off	[2]				(3,510,000)	731,000	$ 26,254,000
90 + Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans					27,650,000	25,320,000
Interest income					1,700,000	1,300,000
Collateral Pledged
Financing Receivable, Allowance for Credit Loss [Line Items]
Individual review of impairment of unpaid principal balances in excess of					10,354,000	50,119,000
Allowance for credit losses on loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans					4,707,150,000	4,481,600,000
Interest receivable					15,400,000	12,000,000
Leases
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans					345,131,000	122,508,000
Leases | 90 + Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans					6,218,000	1,581,000
Unfunded Loan Commitment
Financing Receivable, Allowance for Credit Loss [Line Items]
Net charge-off					600,000	360,000
Paycheck Protection Program
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans					2,400,000	159,100,000	$ 488,900,000
Deferred origination costs					27,000
Amortization of deferred loan fees					2,200,000	$ 13,000,000
Vantage Financial LLC
Financing Receivable, Allowance for Credit Loss [Line Items]
Leases acquired		$ 154,925,000
Financing receivable, purchased with credit deterioration		3,412,000
Allowance for credit losses (on PCD leases)		801,000
Vantage Financial LLC | Leases
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, purchased with credit deterioration		$ 3,412,000
Premier Financial Bancorp, Inc.
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable, purchased with credit deterioration			$ 147,853,000
Net loans			$ 1,146,327,000
Decrease in allowance for credit loss on loans purchased with credit deterioration					1,400,000
Premier Financial Bancorp, Inc. | Collateral Pledged
Financing Receivable, Allowance for Credit Loss [Line Items]
Individual review of impairment of unpaid principal balances in excess of					$ 29,700,000
North Star Leasing
Financing Receivable, Allowance for Credit Loss [Line Items]
Leases acquired				$ 83,300,000
Financing receivable, purchased with credit deterioration				5,248,000
North Star Leasing | Leases
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans				$ 83,300,000
[1]Also referred to throughout this Form 10-K as "total loans" and "loans held for investment."[2]The provision for credit losses includes changes related to the allowance for credit losses on loans, held-to-maturity investment securities, and the unfunded commitment liability.

Loans and Leases - Nonaccrual a

Loans and Leases - Nonaccrual and Past Due Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Loans
Nonaccrual	$ 31,473	$ 34,765
Accruing Loans 90+ Days Past Due	4,842	3,723
Financing receivable, nonaccrual, no allowance	1,400	2,600
Construction
Loans
Nonaccrual	12	6
Accruing Loans 90+ Days Past Due	0	90
Commercial real estate, other
Loans
Nonaccrual	12,121	17,067
Accruing Loans 90+ Days Past Due	167	689
Commercial and industrial
Loans
Nonaccrual	3,462	3,572
Accruing Loans 90+ Days Past Due	130	1,139
Premium finance
Loans
Nonaccrual	0	0
Accruing Loans 90+ Days Past Due	504	865
Leases
Loans
Nonaccrual	3,178	1,581
Accruing Loans 90+ Days Past Due	3,041	0
Residential real estate
Loans
Nonaccrual	9,496	9,647
Accruing Loans 90+ Days Past Due	917	805
Home equity lines of credit
Loans
Nonaccrual	820	1,039
Accruing Loans 90+ Days Past Due	58	50
Consumer, indirect
Loans
Nonaccrual	2,176	1,574
Accruing Loans 90+ Days Past Due	0	0
Consumer, direct
Loans
Nonaccrual	208	279
Accruing Loans 90+ Days Past Due	$ 25	$ 85

Loans and Leases - Aging of the

Loans and Leases - Aging of the Recorded Investment in Past Due Loans and Leases (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Loans
Loans	[1]	$ 4,707,150	$ 4,481,600
Construction
Loans
Loans		246,941	210,232
Commercial real estate, other
Loans
Loans		1,423,518	1,550,081
Commercial and industrial
Loans
Loans		892,634	891,392
Premium finance
Loans
Loans		159,197	136,136
Leases
Loans
Loans		345,131	122,508
Residential real estate
Loans
Loans		723,360	771,718
Home equity lines of credit
Loans
Loans		177,858	163,593
Consumer, indirect
Loans
Loans		629,426	530,532
Consumer, direct
Loans
Loans		108,363	104,652
Deposit account overdrafts
Loans
Loans		722	756
Total
Loans
Loans		64,669	52,549
Total | Construction
Loans
Loans		366	748
Total | Commercial real estate, other
Loans
Loans		13,700	17,052
Total | Commercial and industrial
Loans
Loans		6,260	6,005
Total | Premium finance
Loans
Loans		1,966	1,882
Total | Leases
Loans
Loans		14,213	2,254
Total | Residential real estate
Loans
Loans		17,760	15,705
Total | Home equity lines of credit
Loans
Loans		1,688	2,381
Total | Consumer, indirect
Loans
Loans		7,835	5,730
Total | Consumer, direct
Loans
Loans		881	792
Total | Deposit account overdrafts
Loans
Loans		0	0
30 – 59 days
Loans
Loans		29,386	19,948
30 – 59 days | Construction
Loans
Loans		196	658
30 – 59 days | Commercial real estate, other
Loans
Loans		2,279	2,891
30 – 59 days | Commercial and industrial
Loans
Loans		2,522	1,132
30 – 59 days | Premium finance
Loans
Loans		646	751
30 – 59 days | Leases
Loans
Loans		6,074	426
30 – 59 days | Residential real estate
Loans
Loans		10,113	8,276
30 – 59 days | Home equity lines of credit
Loans
Loans		987	1,137
30 – 59 days | Consumer, indirect
Loans
Loans		5,866	4,220
30 – 59 days | Consumer, direct
Loans
Loans		703	457
30 – 59 days | Deposit account overdrafts
Loans
Loans		0	0
60 – 89 days
Loans
Loans		7,633	7,281
60 – 89 days | Construction
Loans
Loans		161	0
60 – 89 days | Commercial real estate, other
Loans
Loans		1,051	1,600
60 – 89 days | Commercial and industrial
Loans
Loans		289	1,278
60 – 89 days | Premium finance
Loans
Loans		816	266
60 – 89 days | Leases
Loans
Loans		1,921	247
60 – 89 days | Residential real estate
Loans
Loans		2,128	2,241
60 – 89 days | Home equity lines of credit
Loans
Loans		149	619
60 – 89 days | Consumer, indirect
Loans
Loans		1,048	895
60 – 89 days | Consumer, direct
Loans
Loans		70	135
60 – 89 days | Deposit account overdrafts
Loans
Loans		0	0
90 + Days
Loans
Loans		27,650	25,320
90 + Days | Construction
Loans
Loans		9	90
90 + Days | Commercial real estate, other
Loans
Loans		10,370	12,561
90 + Days | Commercial and industrial
Loans
Loans		3,449	3,595
90 + Days | Premium finance
Loans
Loans		504	865
90 + Days | Leases
Loans
Loans		6,218	1,581
90 + Days | Residential real estate
Loans
Loans		5,519	5,188
90 + Days | Home equity lines of credit
Loans
Loans		552	625
90 + Days | Consumer, indirect
Loans
Loans		921	615
90 + Days | Consumer, direct
Loans
Loans		108	200
90 + Days | Deposit account overdrafts
Loans
Loans		0	0
Current
Loans
Loans		4,642,481	4,429,051
Current | Construction
Loans
Loans		246,575	209,484
Current | Commercial real estate, other
Loans
Loans		1,409,818	1,533,029
Current | Commercial and industrial
Loans
Loans		886,374	885,387
Current | Premium finance
Loans
Loans		157,231	134,254
Current | Leases
Loans
Loans		330,918	120,254
Current | Residential real estate
Loans
Loans		705,600	756,013
Current | Home equity lines of credit
Loans
Loans		176,170	161,212
Current | Consumer, indirect
Loans
Loans		621,591	524,802
Current | Consumer, direct
Loans
Loans		107,482	103,860
Current | Deposit account overdrafts
Loans
Loans		$ 722	$ 756
[1]Also referred to throughout this Form 10-K as "total loans" and "loans held for investment."

Loans and Leases - Loans Pledge

Loans and Leases - Loans Pledged (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Loans
Loans	[1]	$ 4,707,150	$ 4,481,600
Loans pledged to FHLB
Loans
Loans		723,360	771,718
Loans pledged to FHLB | Asset Pledged as Collateral
Loans
Loans		783,843	769,863
Loans pledged to FRB
Loans
Loans		892,634	891,392
Loans pledged to FRB | Asset Pledged as Collateral
Loans
Loans		$ 339,005	$ 294,728
[1]Also referred to throughout this Form 10-K as "total loans" and "loans held for investment."

Loans and Leases - Related Part

Loans and Leases - Related Party Loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance, December 31, 2021	$ 28,079
New loans and disbursements	19,938
Repayments	(20,579)
Other changes	(66)
Balance, December 31, 2022	$ 27,372

Loans and Leases - Loans By Ris

Loans and Leases - Loans By Risk Category (Details) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Loans
Originated fiscal year		$ 1,255,907	$ 1,304,914
Originated one year before fiscal year		960,198	775,708
Originated two years before fiscal year		576,884	508,459
Originated three years before fiscal year		423,955	318,793
Originated four years before fiscal year		230,800	270,623
Prior		991,453	1,091,276
Revolving Loans		267,953	211,827
Revolving Loans Converted to Term		11,917	38,625
Total Loans	[1]	4,707,150	4,481,600
Construction
Loans
Originated fiscal year		82,143	85,566
Originated one year before fiscal year		110,721	78,026
Originated two years before fiscal year		27,893	30,461
Originated three years before fiscal year		20,223	4,310
Originated four years before fiscal year		656	5,236
Prior		5,261	4,222
Revolving Loans		44	2,411
Revolving Loans Converted to Term		81	6,948
Total Loans		246,941	210,232
Commercial real estate, other
Loans
Originated fiscal year		165,282	253,416
Originated one year before fiscal year		233,243	263,504
Originated two years before fiscal year		231,489	226,637
Originated three years before fiscal year		209,762	147,624
Originated four years before fiscal year		114,971	153,391
Prior		441,150	483,818
Revolving Loans		27,621	21,691
Revolving Loans Converted to Term		5,407	12,026
Total Loans		1,423,518	1,550,081
Commercial and industrial
Loans
Originated fiscal year		178,269	299,664
Originated one year before fiscal year		167,397	119,450
Originated two years before fiscal year		87,913	89,394
Originated three years before fiscal year		76,618	59,352
Originated four years before fiscal year		41,924	27,309
Prior		100,559	110,465
Revolving Loans		239,954	185,758
Revolving Loans Converted to Term		4,333	16,364
Total Loans		892,634	891,392
Premium finance
Loans
Originated fiscal year		158,778	135,896
Originated one year before fiscal year		419	240
Originated two years before fiscal year		0	0
Originated three years before fiscal year		0	0
Originated four years before fiscal year		0	0
Prior		0	0
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		159,197	136,136
Leases
Loans
Originated fiscal year		193,435	78,278
Originated one year before fiscal year		95,055	26,421
Originated two years before fiscal year		35,338	13,852
Originated three years before fiscal year		16,437	3,610
Originated four years before fiscal year		3,747	347
Prior		1,119	0
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		345,131	122,508
Residential real estate
Loans
Originated fiscal year		78,313	141,845
Originated one year before fiscal year		138,860	74,169
Originated two years before fiscal year		59,006	53,434
Originated three years before fiscal year		43,409	33,690
Originated four years before fiscal year		28,737	44,377
Prior		375,035	424,203
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		723,360	771,718
Home equity lines of credit
Loans
Originated fiscal year		41,781	35,898
Originated one year before fiscal year		35,828	23,276
Originated two years before fiscal year		19,863	18,035
Originated three years before fiscal year		14,873	16,124
Originated four years before fiscal year		13,926	14,991
Prior		51,253	53,302
Revolving Loans		334	1,967
Revolving Loans Converted to Term		2,096	3,287
Total Loans		177,858	163,593
Consumer, indirect
Loans
Originated fiscal year		306,198	226,287
Originated one year before fiscal year		150,261	163,830
Originated two years before fiscal year		100,686	63,353
Originated three years before fiscal year		36,254	45,672
Originated four years before fiscal year		23,093	21,754
Prior		12,934	9,636
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		629,426	530,532
Consumer, direct
Loans
Originated fiscal year		50,986	47,308
Originated one year before fiscal year		28,414	26,792
Originated two years before fiscal year		14,696	13,293
Originated three years before fiscal year		6,379	8,411
Originated four years before fiscal year		3,746	3,218
Prior		4,142	5,630
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		108,363	104,652
Deposit account overdrafts
Loans
Originated fiscal year		722	756
Originated one year before fiscal year		0	0
Originated two years before fiscal year		0	0
Originated three years before fiscal year		0	0
Originated four years before fiscal year		0	0
Prior		0	0
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		722	756
Pass | Construction
Loans
Originated fiscal year		82,143	85,276
Originated one year before fiscal year		110,719	78,026
Originated two years before fiscal year		27,893	29,514
Originated three years before fiscal year		20,223	3,498
Originated four years before fiscal year		656	1,233
Prior		4,061	2,982
Revolving Loans		44	2,411
Revolving Loans Converted to Term		81	6,948
Total Loans		245,739	202,940
Pass | Commercial real estate, other
Loans
Originated fiscal year		165,282	253,259
Originated one year before fiscal year		224,727	259,113
Originated two years before fiscal year		227,799	217,938
Originated three years before fiscal year		202,877	143,094
Originated four years before fiscal year		110,564	143,975
Prior		369,578	392,212
Revolving Loans		27,300	21,320
Revolving Loans Converted to Term		5,217	11,940
Total Loans		1,328,127	1,430,911
Pass | Commercial and industrial
Loans
Originated fiscal year		167,937	299,117
Originated one year before fiscal year		142,615	105,646
Originated two years before fiscal year		72,573	84,144
Originated three years before fiscal year		71,497	56,361
Originated four years before fiscal year		40,229	22,182
Prior		91,853	100,030
Revolving Loans		215,116	174,848
Revolving Loans Converted to Term		3,722	15,888
Total Loans		801,820	842,328
Pass | Premium finance
Loans
Originated fiscal year		158,778	135,896
Originated one year before fiscal year		419	240
Originated two years before fiscal year		0	0
Originated three years before fiscal year		0	0
Originated four years before fiscal year		0	0
Prior		0	0
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		159,197	136,136
Pass | Leases
Loans
Originated fiscal year		191,148	78,048
Originated one year before fiscal year		90,738	25,954
Originated two years before fiscal year		34,627	13,368
Originated three years before fiscal year		15,951	2,972
Originated four years before fiscal year		3,269	337
Prior		1,119	0
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		336,852	120,679
Pass | Residential real estate
Loans
Originated fiscal year		78,313	141,845
Originated one year before fiscal year		138,860	74,169
Originated two years before fiscal year		58,869	53,434
Originated three years before fiscal year		42,840	33,690
Originated four years before fiscal year		28,174	44,377
Prior		364,635	407,541
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		711,691	755,056
Pass | Home equity lines of credit
Loans
Originated fiscal year		41,781	35,898
Originated one year before fiscal year		35,768	23,276
Originated two years before fiscal year		19,863	18,035
Originated three years before fiscal year		14,820	16,124
Originated four years before fiscal year		13,800	14,991
Prior		50,291	53,302
Revolving Loans		334	1,967
Revolving Loans Converted to Term		2,096	3,287
Total Loans		176,657	163,593
Pass | Consumer, indirect
Loans
Originated fiscal year		305,814	226,287
Originated one year before fiscal year		149,445	163,830
Originated two years before fiscal year		100,027	63,353
Originated three years before fiscal year		35,988	45,672
Originated four years before fiscal year		22,789	21,754
Prior		12,741	9,636
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		626,804	530,532
Pass | Consumer, direct
Loans
Originated fiscal year		50,889	47,308
Originated one year before fiscal year		28,351	26,792
Originated two years before fiscal year		14,558	13,293
Originated three years before fiscal year		6,333	8,411
Originated four years before fiscal year		3,725	3,218
Prior		3,975	5,630
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		107,831	104,652
Special mention | Construction
Loans
Originated fiscal year		0	290
Originated one year before fiscal year		0	0
Originated two years before fiscal year		0	0
Originated three years before fiscal year		0	735
Originated four years before fiscal year		0	3,850
Prior		818	137
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		818	5,012
Special mention | Commercial real estate, other
Loans
Originated fiscal year		0	157
Originated one year before fiscal year		189	2,716
Originated two years before fiscal year		1,099	7,875
Originated three years before fiscal year		5,519	3,839
Originated four years before fiscal year		3,111	6,292
Prior		29,334	31,626
Revolving Loans		105	0
Revolving Loans Converted to Term		0	49
Total Loans		39,357	52,505
Special mention | Commercial and industrial
Loans
Originated fiscal year		10,248	82
Originated one year before fiscal year		14,981	11,745
Originated two years before fiscal year		11,923	2,559
Originated three years before fiscal year		2,711	2,179
Originated four years before fiscal year		236	132
Prior		4,877	5,445
Revolving Loans		16,235	7,563
Revolving Loans Converted to Term		0	9
Total Loans		61,211	29,705
Special mention | Leases
Loans
Originated fiscal year		1,741	34
Originated one year before fiscal year		2,477	29
Originated two years before fiscal year		140	22
Originated three years before fiscal year		22	159
Originated four years before fiscal year		24	4
Prior		0	0
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		4,404	248
Substandard | Construction
Loans
Originated fiscal year		0	0
Originated one year before fiscal year		2	0
Originated two years before fiscal year		0	947
Originated three years before fiscal year		0	77
Originated four years before fiscal year		0	153
Prior		382	1,103
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		384	2,280
Substandard | Commercial real estate, other
Loans
Originated fiscal year		0	0
Originated one year before fiscal year		8,327	1,675
Originated two years before fiscal year		2,591	824
Originated three years before fiscal year		1,366	691
Originated four years before fiscal year		1,296	3,124
Prior		42,172	59,415
Revolving Loans		216	371
Revolving Loans Converted to Term		190	37
Total Loans		55,968	66,100
Substandard | Commercial and industrial
Loans
Originated fiscal year		84	465
Originated one year before fiscal year		9,801	2,059
Originated two years before fiscal year		3,417	2,691
Originated three years before fiscal year		2,410	812
Originated four years before fiscal year		1,459	4,995
Prior		3,620	3,342
Revolving Loans		8,603	3,085
Revolving Loans Converted to Term		611	367
Total Loans		29,394	17,449
Substandard | Leases
Loans
Originated fiscal year		546	196
Originated one year before fiscal year		1,840	438
Originated two years before fiscal year		571	462
Originated three years before fiscal year		464	479
Originated four years before fiscal year		454	6
Prior		0	0
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		3,875	1,581
Substandard | Residential real estate
Loans
Originated fiscal year		0	0
Originated one year before fiscal year		0	0
Originated two years before fiscal year		137	0
Originated three years before fiscal year		569	0
Originated four years before fiscal year		563	0
Prior		10,302	16,302
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		11,571	16,302
Substandard | Home equity lines of credit
Loans
Originated fiscal year		0
Originated one year before fiscal year		60
Originated two years before fiscal year		0
Originated three years before fiscal year		53
Originated four years before fiscal year		126
Prior		958
Revolving Loans		0
Revolving Loans Converted to Term		0
Total Loans		1,197
Substandard | Consumer, indirect
Loans
Originated fiscal year		384
Originated one year before fiscal year		811
Originated two years before fiscal year		659
Originated three years before fiscal year		266
Originated four years before fiscal year		304
Prior		193
Revolving Loans		0
Revolving Loans Converted to Term		0
Total Loans		2,617
Substandard | Consumer, direct
Loans
Originated fiscal year		97
Originated one year before fiscal year		63
Originated two years before fiscal year		138
Originated three years before fiscal year		46
Originated four years before fiscal year		21
Prior		150
Revolving Loans		0
Revolving Loans Converted to Term		0
Total Loans		515
Doubtful | Commercial real estate, other
Loans
Originated fiscal year		0	0
Originated one year before fiscal year		0	0
Originated two years before fiscal year		0	0
Originated three years before fiscal year		0	0
Originated four years before fiscal year		0	0
Prior		66	542
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		66	542
Doubtful | Commercial and industrial
Loans
Originated fiscal year		0	0
Originated one year before fiscal year		0	0
Originated two years before fiscal year		0	0
Originated three years before fiscal year		0	0
Originated four years before fiscal year		0	0
Prior		209	1,648
Revolving Loans		0	262
Revolving Loans Converted to Term		0	100
Total Loans		209	1,910
Loss | Commercial real estate, other
Loans
Originated fiscal year			0
Originated one year before fiscal year			0
Originated two years before fiscal year			0
Originated three years before fiscal year			0
Originated four years before fiscal year			0
Prior			23
Revolving Loans			0
Revolving Loans Converted to Term			0
Total Loans			23
Loss | Residential real estate
Loans
Originated fiscal year		0	0
Originated one year before fiscal year		0	0
Originated two years before fiscal year		0	0
Originated three years before fiscal year		0	0
Originated four years before fiscal year		0	0
Prior		98	360
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		98	$ 360
Loss | Home equity lines of credit
Loans
Originated fiscal year		0
Originated one year before fiscal year		0
Originated two years before fiscal year		0
Originated three years before fiscal year		0
Originated four years before fiscal year		0
Prior		4
Revolving Loans		0
Revolving Loans Converted to Term		0
Total Loans		4
Loss | Consumer, indirect
Loans
Originated fiscal year		0
Originated one year before fiscal year		5
Originated two years before fiscal year		0
Originated three years before fiscal year		0
Originated four years before fiscal year		0
Prior		0
Revolving Loans		0
Revolving Loans Converted to Term		0
Total Loans		5
Loss | Consumer, direct
Loans
Originated fiscal year		0
Originated one year before fiscal year		0
Originated two years before fiscal year		0
Originated three years before fiscal year		0
Originated four years before fiscal year		0
Prior		17
Revolving Loans		0
Revolving Loans Converted to Term		0
Total Loans		$ 17
[1]Also referred to throughout this Form 10-K as "total loans" and "loans held for investment."

Loans and Leases - Collateral D

Loans and Leases - Collateral Dependent (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Loans
Total collateral dependent loans	$ 1,000
Collateral Pledged
Loans
Total collateral dependent loans	10,354	$ 50,119
Construction | Collateral Pledged
Loans
Total collateral dependent loans	0	1,291
Commercial real estate, other | Collateral Pledged
Loans
Total collateral dependent loans	8,362	37,220
Commercial and industrial | Collateral Pledged
Loans
Total collateral dependent loans	1,456	8,340
Residential real estate | Collateral Pledged
Loans
Total collateral dependent loans	536	2,877
Home equity lines of credit | Collateral Pledged
Loans
Total collateral dependent loans	$ 0	$ 391

Loans and Leases - Troubled Deb

Loans and Leases - Troubled Debt Restructurings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	91	105
Pre-Modification	$ 5,154	$ 4,028
Post-Modification	5,242	4,091
Remaining Recorded Investment	$ 4,640	$ 3,851
Construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract		1
Pre-Modification		$ 344
Post-Modification		344
Remaining Recorded Investment		$ 344
Commercial real estate, other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	8	7
Pre-Modification	$ 1,191	$ 218
Post-Modification	1,191	218
Remaining Recorded Investment	$ 1,179	$ 217
Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	9	1
Pre-Modification	$ 1,513	$ 187
Post-Modification	1,517	188
Remaining Recorded Investment	$ 971	$ 100
Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	34	55
Pre-Modification	$ 1,741	$ 2,513
Post-Modification	1,825	2,574
Remaining Recorded Investment	$ 1,789	$ 2,464
Home equity lines of credit
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	8	14
Pre-Modification	$ 321	$ 500
Post-Modification	321	500
Remaining Recorded Investment	$ 313	$ 489
Consumer, indirect
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	23	16
Pre-Modification	$ 286	$ 207
Post-Modification	285	207
Remaining Recorded Investment	$ 285	$ 184
Consumer, direct
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	9	11
Pre-Modification	$ 102	$ 59
Post-Modification	103	60
Remaining Recorded Investment	$ 103	$ 53
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	32	27
Pre-Modification	$ 388	$ 266
Post-Modification	388	267
Remaining Recorded Investment	$ 388	$ 237

Loans and Leases - Summary of T

Loans and Leases - Summary of TDRs Modified (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract	6	4
Recorded Investment	$ 181	$ 182
Impact on the Allowance for Credit Losses	$ 0	$ 0
Commercial real estate, other
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract	1	0
Recorded Investment	$ 65	$ 0
Impact on the Allowance for Credit Losses	$ 0	$ 0
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract	1	0
Recorded Investment	$ 43	$ 0
Impact on the Allowance for Credit Losses	$ 0	$ 0
Residential real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract	2	3
Recorded Investment	$ 64	$ 156
Impact on the Allowance for Credit Losses	$ 0	$ 0
Consumer, indirect
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract	1	1
Recorded Investment	$ 7	$ 26
Impact on the Allowance for Credit Losses	$ 0	$ 0
Consumer, direct
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract	1	0
Recorded Investment	$ 2	$ 0
Impact on the Allowance for Credit Losses	$ 0	$ 0

Loans and Leases - Summary of A

Loans and Leases - Summary of Activity in Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 63,967	$ 50,359
Initial allowance for acquired PCD Assets	(629)	17,570
(Recovery of) Provision for Credit Losses	(2,904)	731
Charge-offs	(8,755)	(5,988)
Recoveries	1,483	1,295
Ending balance	53,162	63,967
Construction
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	2,999	1,887
Initial allowance for acquired PCD Assets	0	2,006
(Recovery of) Provision for Credit Losses	(1,733)	(894)
Charge-offs	(16)	0
Recoveries	0	0
Ending balance	1,250	2,999
Commercial real estate, other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	29,147	17,536
Initial allowance for acquired PCD Assets	(451)	9,636
(Recovery of) Provision for Credit Losses	(10,794)	2,158
Charge-offs	(489)	(387)
Recoveries	297	204
Ending balance	17,710	29,147
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	11,063	12,763
Initial allowance for acquired PCD Assets	(418)	4,048
(Recovery of) Provision for Credit Losses	(1,522)	(4,717)
Charge-offs	(943)	(1,057)
Recoveries	49	26
Ending balance	8,229	11,063
Premium finance
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	379	1,095
Initial allowance for acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	76	(671)
Charge-offs	(124)	(45)
Recoveries	13	0
Ending balance	344	379
Leases
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	4,797	0
Initial allowance for acquired PCD Assets	801	493
(Recovery of) Provision for Credit Losses	5,062	5,399
Charge-offs	(2,585)	(1,434)
Recoveries	420	339
Ending balance	8,495	4,797
Residential real estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	7,233	6,044
Initial allowance for acquired PCD Assets	(509)	1,206
(Recovery of) Provision for Credit Losses	217	225
Charge-offs	(668)	(385)
Recoveries	84	143
Ending balance	6,357	7,233
Home equity lines of credit
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	2,005	1,860
Initial allowance for acquired PCD Assets	(11)	66
(Recovery of) Provision for Credit Losses	(258)	235
Charge-offs	(88)	(197)
Recoveries	45	41
Ending balance	1,693	2,005
Consumer, indirect
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	5,326	8,030
Initial allowance for acquired PCD Assets	(41)	0
(Recovery of) Provision for Credit Losses	4,068	(1,201)
Charge-offs	(2,233)	(1,756)
Recoveries	328	253
Ending balance	7,448	5,326
Consumer, direct
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	961	1,081
Initial allowance for acquired PCD Assets	0	115
(Recovery of) Provision for Credit Losses	930	(195)
Charge-offs	(363)	(152)
Recoveries	47	112
Ending balance	1,575	961
Deposit account overdrafts
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	57	63
Initial allowance for acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	1,050	392
Charge-offs	(1,246)	(575)
Recoveries	200	177
Ending balance	$ 61	$ 57

Bank Premises and Equipment - N

Bank Premises and Equipment - Net Book Value (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total bank premises and equipment	$ 158,137	$ 157,474
Accumulated depreciation	(75,203)	(68,214)
Net book value	82,934	89,260
Land
Property, Plant and Equipment [Line Items]
Total bank premises and equipment	18,746	19,921
Building and premises
Property, Plant and Equipment [Line Items]
Total bank premises and equipment	101,478	101,234
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total bank premises and equipment	$ 37,913	$ 36,319

Bank Premises and Equipment - D

Bank Premises and Equipment - Depreciation Expense Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 7	$ 6.1
Building and premises | Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Building and premises | Maximum
Property, Plant and Equipment [Line Items]
Useful life	40 years
Furniture, fixtures and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	2 years
Furniture, fixtures and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	10 years

Leases - Schedule of Sales-type

Leases - Schedule of Sales-type Lease, Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Interest and fees on leases	$ 34,720	$ 13,572
Other non-interest income	$ 4,267	$ 1,293
Sales-Type Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest and fees on loans, Other non-interest income	Interest and fees on loans, Other non-interest income
Total lease income	$ 38,987	$ 14,865

Leases - Summary of Sales Type

Leases - Summary of Sales Type Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Lease payments receivable, at amortized cost	$ 367,681	$ 152,202
Estimated residual values	35,045	129
Initial direct costs	4,233	1,427
Deferred revenue	(61,828)	(31,250)
Allowance for credit losses - leases	(53,162)	(63,967)	$ (50,359)
Leases
Lessee, Lease, Description [Line Items]
Total leases, at amortized cost	345,131	122,508
Allowance for credit losses - leases	(8,495)	(4,797)	$ 0
Net investment in sales-type leases	$ 336,636	$ 117,711

Leases - Sales Type Leases Matu

Leases - Sales Type Leases Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2024	$ 82,543
2024	84,642
2025	92,966
2026	61,351
2027	37,310
Thereafter	8,869
Lease payments receivable, at amortized cost	$ 367,681	$ 152,202

Leases - Narrative (Details)

Leases - Narrative (Details)	Dec. 31, 2022
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	2 years
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	30 years

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease expense	$ 2,568	$ 1,632
Short-term lease expense	745	411
Lease, Cost	$ 3,313	$ 2,043

Leases - Schedule of Lessee, Op

Leases - Schedule of Lessee, Operating Lease, Disclosure (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Right-of-use asset:	$ 6,825	$ 7,911
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Lease liability:	$ 7,551	$ 8,674
Weighted-average remaining lease term	8 years 9 months 18 days	9 years 6 months
Weighted-average discount rate	2.70%	2.36%
Cash paid during the year for operating leases	$ 2,560	$ 1,585
Additions for right-of-use assets obtained during the year	$ 880	$ 2,482	$ 62

Leases - Schedule of Lessee, _2

Leases - Schedule of Lessee, Operating Lease, Liability, Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023	$ 2,245
2024	1,487
2025	1,002
2026	839
2027	702
Thereafter	3,005
Total undiscounted lease payments	9,280
Imputed interest	(1,729)
Total lease liability	$ 7,551	$ 8,674

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill
Goodwill, beginning of year	$ 264,193	$ 171,260
Goodwill recorded from acquisitions	28,204	92,933
Goodwill, end of year	$ 292,397	$ 264,193

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Mar. 07, 2022	Sep. 17, 2021	May 04, 2021	Apr. 01, 2021	Dec. 31, 2019
Goodwill [Line Items]
Goodwill	$ 292,397	$ 264,193	$ 171,260
Weighted average amortization period	7 years 2 months 12 days
Increase (decrease) in valuation allowances	$ (12)	(149)	161
Servicing rights	1,816	2,218	$ 2,486					$ 2,742
Estimate of Fair Value Measurement
Goodwill [Line Items]
Servicing rights	3,400	2,600
Noncompete Agreements
Goodwill [Line Items]
Intangibles recorded from acquisitions	1,300	300
Elite Agency, Inc
Goodwill [Line Items]
Goodwill	2,300
Elite Agency, Inc | Customer Relationships
Goodwill [Line Items]
Intangibles recorded from acquisitions	2,000
Elite Agency, Inc | Noncompete Agreements
Goodwill [Line Items]
Intangibles recorded from acquisitions	100
Vantage Financial LLC
Goodwill [Line Items]
Goodwill	27,200			$ 27,164
Vantage Financial LLC | Indefinite-Lived Trade Names
Goodwill [Line Items]
Indefinite-lived intangible assets acquired	1,200
Vantage Financial LLC | Customer Relationships
Goodwill [Line Items]
Intangibles recorded from acquisitions	10,800
Vantage Financial LLC | Noncompete Agreements
Goodwill [Line Items]
Intangibles recorded from acquisitions	1,200
Premier Financial Bancorp, Inc.
Goodwill [Line Items]
Goodwill					$ 66,940
Goodwill, reduction	$ 1,300
Premier Financial Bancorp, Inc. | Core Deposits
Goodwill [Line Items]
Intangibles recorded from acquisitions		4,200
North Star Leasing
Goodwill [Line Items]
Goodwill							$ 24,720
North Star Leasing | Customer Relationships
Goodwill [Line Items]
Intangibles recorded from acquisitions		12,700
North Star Leasing | Noncompete Agreements
Goodwill [Line Items]
Intangibles recorded from acquisitions		300
North Star Leasing | Indefinite-Lived Trade Names
Goodwill [Line Items]
Intangibles recorded from acquisitions		$ 1,300
Justice & Stamper Insurance Agency, Inc
Goodwill [Line Items]
Goodwill						$ 46

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Summary of Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Intangibles recorded from acquisitions	$ 15,284	$ 18,521
Accumulated amortization	(36,079)	(28,651)
Total acquisition-related intangibles	29,625
Total gross intangibles	52,911	34,728
Total acquisition-related intangibles	32,116	24,598
Servicing rights	1,816	2,218	$ 2,486	$ 2,742
Other intangible assets	33,932	26,816
Indefinite-Lived Trade Names
Finite-Lived Intangible Assets [Line Items]
Intangibles recorded from acquisitions	1,217	1,274
Gross intangibles	1,274	0
Total acquisition-related intangibles	2,491	1,274
Core Deposits
Finite-Lived Intangible Assets [Line Items]
Gross intangibles	26,464	22,233
Intangibles recorded from acquisitions	0	4,233
Accumulated amortization	(20,667)	(19,048)
Total acquisition-related intangibles	5,797	7,418
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross intangibles	25,173	12,495
Intangibles recorded from acquisitions	14,067	13,014
Accumulated amortization	(15,412)	(9,603)
Total acquisition-related intangibles	23,828	15,906
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Intangibles recorded from acquisitions	$ 1,300	$ 300

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Schedule of Future Amortization of Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Intangible Assets
2023	$ 7,526
2024	6,383
2025	5,146
2026	3,845
2027	2,861
Thereafter	3,864
Total acquisition-related intangibles	29,625
Core Deposits
Other Intangible Assets
2023	1,257
2024	1,058
2025	891
2026	731
2027	572
Thereafter	1,288
Total acquisition-related intangibles	5,797	$ 7,418
Customer Relationships
Other Intangible Assets
2023	6,269
2024	5,325
2025	4,255
2026	3,114
2027	2,289
Thereafter	2,576
Total acquisition-related intangibles	$ 23,828	$ 15,906

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets - Schedule of Servicing Rights (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Servicing Asset at Fair Value, Amount [Roll Forward]
Balance, beginning of year	$ 2,218	$ 2,486	$ 2,742
Amortization	(594)	(936)	(1,121)
Servicing rights originated	1,816	2,218	2,486
Change in valuation allowance	12	149	(161)
Balance, end of period	1,816	2,218	2,486
Servicing rights
Servicing Asset at Fair Value, Amount [Roll Forward]
Balance, beginning of year	519	1,026
Servicing rights originated	180	519	1,026
Balance, end of period	$ 180	$ 519	$ 1,026

Goodwill and Other Intangible_8

Goodwill and Other Intangible Assets - Schedule of Discount Rates and Prepayment Speeds Servicing Rights (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Minimum
Finite-Lived Intangible Assets [Line Items]
Discount rates	12.50%	8.30%
Prepayment speeds	6.50%	8.90%
Maximum
Finite-Lived Intangible Assets [Line Items]
Discount rates	15%	10.80%
Prepayment speeds	23.80%	27.10%

Deposits - Summary of Deposit B

Deposits - Summary of Deposit Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deposit Liability [Line Items]
Time deposits	$ 655,816
Interest-bearing deposit accounts	1,160,182	$ 1,167,460
Savings accounts	1,068,547	1,036,738
Money market deposit accounts	617,029	651,169
Governmental deposit accounts	625,965	617,259
Interest-bearing	4,127,539	4,221,130
Non-interest-bearing	1,589,402	1,641,422
Total deposits	5,716,941	5,862,552
Brokered deposit accounts
Deposit Liability [Line Items]
Time deposits	125,580	104,745
Retail
Deposit Liability [Line Items]
$100 or more	263,341	320,574
Less than $100	266,895	323,185
Time deposits	$ 530,236	$ 643,759

Deposits - Narrative (Details)

Deposits - Narrative (Details) $ in Thousands	Dec. 31, 2022 USD ($) contract	Dec. 31, 2021 USD ($)
Deposit Liability [Line Items]
Time deposits exceeding FDIC limit	$ 1,600,000	$ 1,700,000
Related party deposits	8,500	12,600
Brokered CD's
Deposit Liability [Line Items]
Notional amount	$ 125,000
Interest Rate Swap
Deposit Liability [Line Items]
Number of derivative instruments | contract	13
Notional amount	$ 125,000	$ 125,000

Deposits - Broken Out by Time R

Deposits - Broken Out by Time Remaining Until Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Banking and Thrift, Other Disclosure [Abstract]
3 months or less	$ 19,282	$ 23,779
Over 3 to 6 months	14,871	26,964
Over 6 to 12 months	14,383	34,434
Over 12 months	52,216	36,115
Total	$ 100,752	$ 121,292

Deposits - Schedule of Maturiti

Deposits - Schedule of Maturities of Certificates of Deposit (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deposit Liability [Line Items]
2023	$ 441,653
2024	132,130
2025	32,838
2026	22,127
2027	26,978
Thereafter	90
Total	655,816
Brokered
Deposit Liability [Line Items]
2023	125,580
2024	0
2025	0
2026	0
2027	0
Thereafter	0
Total	125,580	$ 104,745
Retail
Deposit Liability [Line Items]
2023	316,073
2024	132,130
2025	32,838
2026	22,127
2027	26,978
Thereafter	90
Total	$ 530,236	$ 643,759

Short-Term Borrowings - Schedul

Short-Term Borrowings - Schedule of Short-term Borrowings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Short-term Borrowings
Short-term borrowings	$ 500,138	$ 166,482	$ 73,261
Average balance	196,790	100,963	176,633
Highest month-end balance	500,138	184,693	279,773
Interest expense	$ 2,661	$ 541	$ 2,571
Weighted-average interest rate, end of year	3.57%	0.31%	0.53%
Weighted-average interest rate, during the year	1.35%	0.54%	1.46%
Retail Repurchase Agreements
Short-term Borrowings
Short-term borrowings	$ 100,138	$ 111,482	$ 53,261
Average balance	113,434	70,674	44,902
Highest month-end balance	286,442	119,693	53,261
Interest expense	$ 274	$ 66	$ 77
Weighted-average interest rate, end of year	0.40%	0.09%	0.06%
Weighted-average interest rate, during the year	0.24%	0.09%	0.17%
FHLB Advances
Short-term Borrowings
Short-term borrowings	$ 400,000	$ 55,000	$ 20,000
Average balance	83,356	30,289	129,928
Highest month-end balance	400,000	65,017	235,989
Interest expense	$ 2,387	$ 475	$ 2,489
Weighted-average interest rate, end of year	4.36%	0.74%	1.78%
Weighted-average interest rate, during the year	2.86%	1.57%	1.92%
Other
Short-term Borrowings
Short-term borrowings	$ 0	$ 0	$ 0
Average balance	0	0	1,803
Highest month-end balance	0	0	64,000
Interest expense	$ 0	$ 0	$ 5
Weighted-average interest rate, end of year	0%	0%	0%
Weighted-average interest rate, during the year	0%	0%	0.25%

Short-Term Borrowings - Narrati

Short-Term Borrowings - Narrative (Details) - USD ($)		12 Months Ended
	Apr. 03, 2019	Dec. 31, 2022	Dec. 31, 2021
Short-term Borrowings
Federal funds available from correspondent banks		$ 264,100,000
Minimum
Short-term Borrowings
Federal funds maturity term		1 day
Maximum
Short-term Borrowings
Federal funds maturity term		90 days
US Bank Loan Agreement
Short-term Borrowings
Debt term	1 year
Line of credit facility, maximum borrowing capacity		$ 30,000,000
FHLB Advances
Short-term Borrowings
Long-term borrowings reclassified to short-term based on maturity date		0	$ 15,000,000
FHLB Advances | Matured Debt
Short-term Borrowings
Long-term borrowings reclassified to short-term based on maturity date		$ 55,000,000	$ 70,000,000

Long-Term Borrowings - Schedule

Long-Term Borrowings - Schedule of Long Term Borrowing (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Long-term borrowings:
Total long-term borrowings	$ 101,093	$ 99,475
Total long-term borrowings, weighted-average rate	4.27%	1.69%
FHLB putable, non-amortizing, fixed rate advances
Long-term borrowings:
Long-term Federal Home Loan Bank advances	$ 30,000	$ 80,000
Federal Home Loan Bank, advances, weighted average interest rate	2.51%	1.42%
FHLB amortizing, fixed rate advances
Long-term borrowings:
Long-term Federal Home Loan Bank advances	$ 4,158	$ 5,825
Federal Home Loan Bank, advances, weighted average interest rate	1.79%	1.77%
Vantage non-recourse borrowings
Long-term borrowings:
Vantage non-recourse borrowings	$ 53,147	$ 0
Weighted average interest rate	4.75%	0%
Junior subordinated debt securities
Long-term borrowings:
Weighted average interest rate	8.66%	3.37%
Junior subordinated debt securities	$ 13,788	$ 13,650

Long-Term Borrowings - Narrativ

Long-Term Borrowings - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($)	Sep. 17, 2021 USD ($)	Mar. 06, 2015 USD ($)
Long-term borrowings
Number of trust preferred securities | security	2
FHLB putable, non-amortizing, fixed rate advances
Long-term borrowings
FHBL advances, initial fixed rate period	3 months
FHLB putable, non-amortizing, fixed rate advances | Minimum
Long-term borrowings
FHBL advances, bank interest rate	2.17%
FHLB advances, maturities period	3 years
FHLB putable, non-amortizing, fixed rate advances | Maximum
Long-term borrowings
FHBL advances, bank interest rate	3.20%
FHLB advances, maturities period	4 years
FHLB amortizing, fixed rate advances | Minimum
Long-term borrowings
FHBL advances, bank interest rate	1.25%
FHLB advances, maturities period	3 years
FHLB amortizing, fixed rate advances | Maximum
Long-term borrowings
FHBL advances, bank interest rate	3.83%
FHLB advances, maturities period	9 years
Vantage non-recourse borrowings
Long-term borrowings
Weighted average interest rate	4.75%	0%
Vantage non-recourse borrowings | Minimum
Long-term borrowings
Weighted average interest rate	2.12%
Vantage non-recourse borrowings | Maximum
Long-term borrowings
Weighted average interest rate	8.75%
Junior subordinated debt securities
Long-term borrowings
Weighted average interest rate	8.66%	3.37%
Junior subordinated debt securities	$ 13,788	$ 13,650
Junior subordinated debt securities | NB&T Financial Group, Inc.
Long-term borrowings
Weighted average interest rate	9.27%
Debt instrument, face amount				$ 9,000
Junior subordinated debt securities	$ 7,900			$ 6,600
Junior subordinated debt securities | Premier Financial Bancorp, Inc.
Long-term borrowings
Weighted average interest rate	7.83%
Debt instrument, face amount			$ 6,200
Junior subordinated debt securities	$ 5,900		$ 6,100

Long-Term Borrowings - Schedu_2

Long-Term Borrowings - Schedule of Aggregate Minimum Annual Retirements of Long-Term Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Balance
2023	$ 10,343
2024	18,042
2025	11,820
2026	26,052
2027	15,946
Thereafter	18,890
Total long-term borrowings	$ 101,093	$ 99,475

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Preferred, Common and Treasury Stock (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Increase (Decrease) in Stock by Class
Common stock, shares issued, beginning of period (in shares)	29,814,401
Changes related to deferred compensation plan for Boards of Directors:
Common stock, shares issued, end of period (in shares)	29,857,920	29,814,401
Common Stock
Increase (Decrease) in Stock by Class
Common stock, shares issued, beginning of period (in shares)	29,814,401	21,193,402	21,156,143
Changes related to stock-based compensation awards:
Grant of restricted common shares (in shares)	0	0	0
Release of restricted common shares (in shares)	0	0	0
Cancellation of restricted common shares (in shares)	0	0	0
Grant of unrestricted common shares (in shares)		0	0
Changes related to deferred compensation plan for Boards of Directors:
Purchase of treasury stock (in shares)	0	0	0
Disbursed out of treasury stock (in shares)	0	0	0
Common shares purchased under repurchase program (in shares)	0		0
Common shares issued under dividend reinvestment plan (in shares)	43,519	31,314	37,259
Common shares issued under compensation plan for boards of directors (in shares)	0	0	0
Common shares issued under performance unit awards (in shares)			0
Common shares issued under employee stock purchase plan (in shares)	0	0	0
Issuance of common shares related to merger with Premier (in shares)		8,589,685
Common stock, shares issued, end of period (in shares)	29,857,920	29,814,401	21,193,402
Treasury Stock
Increase (Decrease) in Stock by Class
Treasury stock, shares, beginning of period (in shares)	1,577,359	1,686,046	504,182
Changes related to stock-based compensation awards:
Grant of restricted common shares (in shares)	(216,669)	(109,385)	(128,402)
Release of restricted common shares (in shares)	39,445	34,732	27,391
Cancellation of restricted common shares (in shares)	5,452	8,129	33,689
Grant of unrestricted common shares (in shares)	(1,500)	(21,587)	(23,482)
Changes related to deferred compensation plan for Boards of Directors:
Purchase of treasury stock (in shares)	15,688	7,089	12,005
Disbursed out of treasury stock (in shares)	(3,039)	(2,983)	(2,362)
Common shares purchased under repurchase program (in shares)	263,183		1,299,577
Common shares issued under dividend reinvestment plan (in shares)	0	0	0
Common shares issued under compensation plan for boards of directors (in shares)	(17,626)	(7,589)	(11,553)
Common shares issued under performance unit awards (in shares)			(6,127)
Common shares issued under employee stock purchase plan (in shares)	(18,832)	(17,093)	(18,872)
Issuance of common shares related to merger with Premier (in shares)		0
Treasury stock, shares, end of period (in shares)	1,643,461	1,577,359	1,686,046

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 27, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 28, 2021	Feb. 26, 2020
Class of Stock
Stock repurchase program, authorized amount						$ 20,000
Common shares purchased under repurchase program				$ 29,300
Preferred stock, shares authorized (in shares)		50,000	50,000
Preferred stock, shares issued (in shares)		0	0
Preferred stock, shares outstanding (in shares)		0	0
Share Repurchase Program Authorized On January 28, 2021
Class of Stock
Stock repurchase program, authorized amount					$ 30,000
Common shares purchased under repurchase program (in shares)		263,183	0
Common shares purchased under repurchase program		$ 7,400
Share Repurchase Program Authorized in February 2020
Class of Stock
Stock repurchase program, authorized amount	$ 40,000
Common shares purchased under repurchase program	$ 6,300			28,500
Share Repurchase Program Authorized in November 2015
Class of Stock
Common shares purchased under repurchase program				$ 843

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Dividends Declared (Details) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Common stock, dividends, per common share (in usd per share)	$ 0.38	$ 0.38	$ 0.38	$ 0.36	$ 0.36	$ 0.36	$ 0.36	$ 0.35	$ 1.50	$ 1.43

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 845,025	$ 575,673	$ 594,393
Realized loss on sale of securities, net of tax	47	670	291
Realized loss due to settlement and curtailment, net of tax	142	111	833
Other comprehensive (loss) income, net of reclassifications and tax	(115,706)	(13,736)	1,637
Balance at end of period	785,328	845,025	575,673
Accumulated Other Comprehensive (Loss) Income
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(11,619)	1,336	(1,425)
Balance at end of period	(127,136)	(11,619)	1,336
Unrealized Gain (Loss) on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(5,946)	14,592	5,300
Realized loss on sale of securities, net of tax	47	670	291
Realized loss due to settlement and curtailment, net of tax	0	0	0
Other comprehensive (loss) income, net of reclassifications and tax	(123,997)	(21,208)	9,001
Balance at end of period	(129,896)	(5,946)	14,592
Unrecognized Net Pension and Postretirement Costs
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,881)	(3,872)	(3,958)
Realized loss on sale of securities, net of tax	0	0	0
Realized loss due to settlement and curtailment, net of tax	142	111	833
Other comprehensive (loss) income, net of reclassifications and tax	106	1,880	(747)
Balance at end of period	(1,633)	(1,881)	(3,872)
Unrealized (Loss) Gain on Cash Flow Hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(3,792)	(9,384)	(2,767)
Realized loss on sale of securities, net of tax	0	0	0
Realized loss due to settlement and curtailment, net of tax	0	0	0
Other comprehensive (loss) income, net of reclassifications and tax	8,185	5,592	(6,617)
Balance at end of period	$ 4,393	$ (3,792)	$ (9,384)

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($)	12 Months Ended			24 Months Ended	108 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Dec. 31, 2019
Defined Benefit Plan Disclosure
Pension benefits to be amortized from accumulated other comprehensive income (loss) into net periodic cost over the next fiscal year	$ 11,000			$ 11,000
Defined benefit plan health care cost trend rate assumed	4.50%
Ultimate health care cost trend rate	4%			4%
Cash and cash equivalents	$ 154,022,000	$ 415,727,000		$ 154,022,000
Employer matching percentage				100%
Contribution matched by employer				6%
Matching contributions	$ 4,400,000	3,500,000	$ 2,500,000
Minimum | Equity investment securities
Defined Benefit Plan Disclosure
Actual plan asset allocations	60%			60%
Minimum | Investment securities
Defined Benefit Plan Disclosure
Actual plan asset allocations	20%			20%
Minimum | Other Investments
Defined Benefit Plan Disclosure
Actual plan asset allocations	200%			200%
Maximum | Equity investment securities
Defined Benefit Plan Disclosure
Actual plan asset allocations	75%			75%
Maximum | Investment securities
Defined Benefit Plan Disclosure
Actual plan asset allocations	43%			43%
Maximum | Other Investments
Defined Benefit Plan Disclosure
Actual plan asset allocations	10%			10%
Post-retirement Benefits
Defined Benefit Plan Disclosure
Contribution per eligible employee, coverage basis, consecutive period of highest average monthly compensation	5 years
Contribution per eligible employee, coverage basis, latest service period	10 years
Defined contribution plan, maximum annual contribution per employee, percent	2%
Settlement of benefit obligation	$ 0	0	0
Postretirement Health Coverage
Defined Benefit Plan Disclosure
Coverage paid for retirees	100%
Pension Benefits
Defined Benefit Plan Disclosure
Settlement of benefit obligation	$ 185,000	143,000	$ 1,054,000
Cash and cash equivalents	375,000	284,000		$ 375,000
Accrued income	$ 0	$ 1,000		$ 0
401(K) Match Tranche One
Defined Benefit Plan Disclosure
Employer matching percentage			100%		100%
401(K) Match Tranche One | Minimum
Defined Benefit Plan Disclosure
Contribution matched by employer			4%		3%
401(K) Match Tranche Two
Defined Benefit Plan Disclosure
Employer matching percentage			50%		50%
401(K) Match Tranche Two | Minimum
Defined Benefit Plan Disclosure
Contribution matched by employer			4%		3%
401(K) Match Tranche Two | Maximum
Defined Benefit Plan Disclosure
Contribution matched by employer			6%		5%

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of Changes in Projected Benefit Obligations and Fair Value of Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in plan assets:
Beginning balance	$ 11,428
Ending balance	8,796	$ 11,428
Pension Benefits
Change in benefit obligation:
Beginning balance	10,463	12,310
Interest cost	280	259	$ 326
Plan participants’ contributions	0	0
Actuarial (gain) loss	(2,359)	1,367
Benefit payments	(257)	(220)
Settlements	(546)	(519)
Ending balance accumulated obligation	7,581	10,463
Change in plan assets:
Beginning balance	11,718	10,852
Actual (loss) return on plan assets	(1,746)	1,605
Employer contributions	2	0
Plan participants’ contributions	0	0
Benefit payments	(257)	(220)
Settlements	(546)	(519)
Ending balance	9,171	11,718	10,852
Funded status at December 31	1,590	1,255
Amounts recognized in Consolidated Balance Sheets:
Prepaid benefit costs	1,590	1,255
Accrued benefit liability	0	0
Net amount recognized	1,590	1,255
Amounts recognized in Accumulated Other Comprehensive Loss:
Unrecognized prior service cost	0	0
Unrecognized net loss (gain)	1,681	1,861
Total	$ 1,681	$ 1,861
Discount rate	4.98%	2.71%
Post-retirement Benefits
Change in benefit obligation:
Beginning balance	$ 62	$ 71
Interest cost	1	2	2
Plan participants’ contributions	47	51
Actuarial (gain) loss	2	(1)
Benefit payments	(58)	(63)
Settlements	0	0
Ending balance accumulated obligation	50	62
Change in plan assets:
Beginning balance	0	0
Actual (loss) return on plan assets	0	0
Employer contributions	11	12
Plan participants’ contributions	47	51
Benefit payments	(58)	(63)
Settlements	0	0
Ending balance	0	0	$ 0
Funded status at December 31	(50)	(62)
Amounts recognized in Consolidated Balance Sheets:
Prepaid benefit costs	0	0
Accrued benefit liability	(50)	(62)
Net amount recognized	(50)	(62)
Amounts recognized in Accumulated Other Comprehensive Loss:
Unrecognized prior service cost	0	0
Unrecognized net loss (gain)	(48)	(37)
Total	$ (48)	$ (37)
Discount rate	4.98%	2.71%

Employee Benefit Plans - Sche_2

Employee Benefit Plans - Schedule of Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits
Defined Benefit Plan Disclosure
Interest cost	$ 280	$ 259	$ 326
Expected return on plan assets	(670)	(658)	(747)
Amortization of prior service credit	0	0	0
Amortization of net loss (gain)	67	107	132
Settlement of benefit obligation	185	143	1,054
Net periodic (benefit) cost	$ (138)	$ (149)	$ 765
Discount rate	3.14%	2.44%	2.53%
Expected return on plan assets	7%	7%	7.50%
Post-retirement Benefits
Defined Benefit Plan Disclosure
Interest cost	$ 1	$ 2	$ 2
Expected return on plan assets	0	0	0
Amortization of prior service credit	0	0	0
Amortization of net loss (gain)	(4)	(4)	(5)
Settlement of benefit obligation	0	0	0
Net periodic (benefit) cost	$ (3)	$ (2)	$ (3)
Discount rate	2.71%	2.38%	3.12%

Employee Benefit Plans - Sche_3

Employee Benefit Plans - Schedule of Allocation of Plan Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension assets	$ 8,796	$ 11,428
Level 1 | Recurring Basis
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension assets	8,796	11,428
Mutual funds – equity
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension assets	6,357	8,516
Mutual funds – equity | Level 1 | Recurring Basis
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension assets	6,357	8,516
Mutual funds – taxable income
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension assets	2,439	2,912
Mutual funds – taxable income | Level 1 | Recurring Basis
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension assets	$ 2,439	$ 2,912

Employee Benefit Plans - Sche_4

Employee Benefit Plans - Schedule of Estimated Future Benefit Payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2023	$ 1,082
2024	843
2025	656
2026	792
2027	659
2028 to 2032	2,780
Total	6,812
Post-retirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2023	10
2024	9
2025	7
2026	6
2027	6
2028 to 2032	16
Total	$ 54

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amount
Income tax computed at statutory federal corporate income tax rate	$ 27,015	$ 11,954	$ 8,956
State taxes, net of federal benefit	2,277	119	62
Investment securities impairment	431	0	0
Nondeductible acquisition costs	42	269	0
Common share awards	12	74	(5)
Bank owned life insurance	(551)	(371)	(415)
Investments in tax credit funds	(629)	(381)	(415)
Captive insurance benefit	(421)	(435)	(412)
Tax-exempt interest income	(921)	(835)	(668)
Fixed asset depreciation	0	(1,142)	0
Other, net	94	163	776
Income tax expense	$ 27,349	$ 9,415	$ 7,879
Rate
Income tax computed at statutory federal corporate income tax rate	21%	21%	21%
State taxes, net of federal benefit	1.80%	0.20%	0.10%
Investment securities impairment	0.30%	0%	0%
Nondeductible acquisition costs	0%	0.50%	0%
Common share awards	0%	0.10%	0%
Bank owned life insurance	(0.40%)	(0.60%)	(1.00%)
Investments in tax credit funds	(0.50%)	(0.70%)	(1.00%)
Captive insurance benefit	(0.30%)	(0.80%)	(1.00%)
Tax-exempt interest income	(0.70%)	(1.50%)	(1.60%)
Fixed asset depreciation	0%	(2.00%)	0%
Other, net	0.10%	0.30%	2%
Income tax expense	21.30%	16.50%	18.50%

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Current income tax expense	$ 8,783	$ 6,541	$ 15,980
Deferred income tax expense (benefit)	18,566	2,874	(8,101)
Income tax expense	$ 27,349	$ 9,415	$ 7,879

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Available-for-sale securities	$ 39,425	$ 1,905
Allowance for credit losses	12,827	13,575
Nonaccrual loan interest income	4,366	3,898
Accrued employee benefits	3,391	2,161
Lease obligation	1,757	1,960
Net operating loss carryforward	158	223
Tax credit investments	0	1,096
Derivative instruments	0	1,088
Other	899	561
Gross deferred tax assets	62,823	26,467
Valuation allowance	158	158
Total deferred tax assets	62,665	26,309
Equipment leases	16,316	0
Deferred loan income	5,512	5,249
Purchase accounting adjustments	4,431	3,166
Bank premises and equipment	3,206	3,838
Lease right-of-use assets	1,588	1,788
Derivative instruments	1,302	0
Other	2,259	662
Total deferred tax liabilities	34,614	14,703
Net deferred tax asset	$ 28,051	$ 11,606

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Operating loss deferred tax asset	$ 158	$ 223
Federal income tax benefit from investment securities	14	$ 192	$ 77
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 2,200

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Uncertain tax positions, beginning of year	$ 106	$ 149
Gross increase based on tax positions related to current year	39	0
Gross decrease due to the statute of limitations	(56)	(43)
Uncertain tax positions, end of year	$ 89	$ 106

Earnings Per Common Share - Cal

Earnings Per Common Share - Calculations of Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net income available to common shareholders	$ 101,292	$ 47,555	$ 34,767
Less: Dividends paid on unvested common shares	(354)	(295)	(367)
Add: Undistributed loss allocated to unvested common shares	(96)	(26)	(5)
Net earnings allocated to common shareholders	$ 100,842	$ 47,234	$ 34,395
Weighted-average common shares outstanding (in shares)	27,908,022	21,816,511	19,721,772
Effect of potentially dilutive common shares (in shares)	91,580	143,372	122,034
Total weighted-average diluted common shares outstanding (in shares)	27,999,602	21,959,883	19,843,806
Earnings per common share:
Basic (in usd per share)	$ 3.61	$ 2.17	$ 1.74
Diluted (in usd per share)	$ 3.60	$ 2.15	$ 1.73
Anti-dilutive common shares excluded from calculation:
Restricted shares (in shares)	0	275	64,145

Derivative Financial Instrume_3

Derivative Financial Instrument - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) contract	Dec. 31, 2021 USD ($)
Derivative [Line Items]
Maximum length of time hedged	10 years
Reclassifications into Interest expense on cash flow hedge	$ 800,000	$ 700,000
Cash pledged to Peoples from counterparties	20,900,000	0
Investment securities, counterparties pledged	2,500,000	0
Interest Rate Swap | Asset Pledged as Collateral
Derivative [Line Items]
Debt securities	0	28,100,000
Brokered CD's
Derivative [Line Items]
Notional amount	$ 125,000,000
Interest Rate Swap
Derivative [Line Items]
Number of instruments held | contract	13
Notional amount	$ 125,000,000	125,000,000
Restricted cash	$ 0	$ 0

Derivative Financial Instrume_4

Derivative Financial Instruments - Schedule of Interest Rate Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Net gains (losses) arising during the period	$ 10,606	$ 6,999	$ (8,376)
Interest Rate Swap
Derivative [Line Items]
Notional amount	$ 125,000	$ 125,000
Weighted average pay rates	2.26%	2.26%
Weighted average receive rates	4.44%	1.10%
Weighted average maturity	2 years 7 months 6 days	3 years 7 months 6 days
Net gains (losses) arising during the period	$ 5,727	$ (4,879)

Derivative Financial Instrume_5

Derivative Financial Instruments - Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net gains (losses) arising during the period	$ 10,606	$ 6,999	$ (8,376)

Derivative Financial Instrume_6

Derivative Financial Instruments - Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative asset, notional amount	$ 125,000	$ 0
Derivative asset, fair value	5,594	0
Derivative liability, notional amount	0	125,000
Derivative liability, fair value	0	5,020
Interest rate swaps related to commercial loans
Derivative [Line Items]
Derivative asset, notional amount	125,000	0
Derivative asset, fair value	5,594	0
Derivative liability, notional amount	0	125,000
Derivative liability, fair value	$ 0	$ 5,020

Derivative Financial Instrume_7

Derivative Financial Instruments - Schedule of Derivatives Not Designated as Hedging Instruments (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative asset, notional amount	$ 390,126	$ 419,733
Derivative asset, fair value	28,529	12,163
Derivative liability, notional amount	390,126	419,733
Derivative liability, fair value	28,529	12,163
Interest Rate Swap
Derivative [Line Items]
Derivative asset, notional amount	390,126	419,733
Derivative asset, fair value	28,529	12,163
Derivative liability, notional amount	390,126	419,733
Derivative liability, fair value	$ 28,529	$ 12,163

Off-Balance Sheet Risk - Schedu

Off-Balance Sheet Risk - Schedule of Loan Commitments and Standby Letters of Credit (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Loan commitments	$ 1,198,239	$ 981,567
Standby letters of credit	15,451	12,805
Home equity lines of credit
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Loan commitments	197,995	177,262
Unadvanced construction loans
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Loan commitments	270,229	227,135
Other loan commitments
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Loan commitments	$ 730,015	$ 577,170

Regulatory Matters - Narrative

Regulatory Matters - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Regulatory Matters [Abstract]
Required reserve balances	$ 0	$ 0
Net profits available	$ 66.3

Regulatory Matters - Schedule o

Regulatory Matters - Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
PEOPLES
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity tier one capital	$ 604,566,000	$ 577,565,000
Common equity tier one capital ratio	0.1192	0.1252
Common equity tier one capital required for capital adequacy	$ 228,206,000	$ 207,642,000
Common equity tier 1 risk based capital required for capital adequacy to risk weighted assets	4.50%	4.50%
Common equity tier one capital required to be well-capitalized	$ 329,631,000	$ 299,927,000
Common equity tier 1 risk based capital required to be well capitalized to risk weighted assets	6.50%	6.50%
Tier one risk based capital	$ 618,354,000	$ 591,215,000
Tier one risk based capital to risk weighted assets	0.1219	0.1281
Tier one risk based capital required for capital adequacy	$ 304,274,000	$ 276,856,000
Tier one risk based capital required for capital adequacy to risk weighted assets	0.0600	0.0600
Tier one risk based capital required to be well capitalized	$ 405,699,000	$ 369,141,000
Tier one risk based capital required to be well capitalized to risk weighted assets	0.0800	0.0800
Capital	$ 662,421,000	$ 648,948,000
Capital to risk ratio	0.1306	0.1406
Capital required for capital adequacy	$ 405,699,000	$ 369,141,000
Capital required for capital adequacy to risk ratio	0.0800	0.0800
Capital required to be well capitalized	$ 507,124,000	$ 461,426,000
Capital required to be well capitalized to risk ratio	0.1000	0.1000
Tier one leverage capital	$ 618,354,000	$ 591,215,000
Tier one leverage capital to ratio	0.0892	0.0867
Tier one leverage capital required for capital adequacy	$ 277,302,000	$ 272,916,000
Tier one leverage capital required for capital adequacy to average assets ratio	0.0400	0.0400
Tier one leverage capital required to be well capitalized	$ 346,628,000	$ 341,145,000
Tier one leverage capital required to be well capitalized to average assets ratio	0.0500	0.0500
Regulatory capital conservation buffer	$ 256,722,000	$ 279,807,000
Regulatory capital conservation buffer ratio	0.0506	0.0606
Risk weighted assets	5,071,240,000	4,614,259,000
PEOPLES BANK
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity tier one capital	$ 593,609,000	$ 566,594,000
Common equity tier one capital ratio	0.1172	0.1230
Common equity tier one capital required for capital adequacy	$ 227,843,000	$ 207,318,000
Common equity tier 1 risk based capital required for capital adequacy to risk weighted assets	4.50%	4.50%
Common equity tier one capital required to be well-capitalized	$ 329,107,000	$ 299,460,000
Common equity tier 1 risk based capital required to be well capitalized to risk weighted assets	6.50%	6.50%
Tier one risk based capital	$ 593,609,000	$ 566,594,000
Tier one risk based capital to risk weighted assets	0.1172	0.1230
Tier one risk based capital required for capital adequacy	$ 303,791,000	$ 276,424,000
Tier one risk based capital required for capital adequacy to risk weighted assets	0.0600	0.0600
Tier one risk based capital required to be well capitalized	$ 405,055,000	$ 368,566,000
Tier one risk based capital required to be well capitalized to risk weighted assets	0.0800	0.0800
Capital	$ 637,676,000	$ 624,238,000
Capital to risk ratio	0.1259	0.1355
Capital required for capital adequacy	$ 405,055,000	$ 368,566,000
Capital required for capital adequacy to risk ratio	0.0800	0.0800
Capital required to be well capitalized	$ 506,318,000	$ 460,707,000
Capital required to be well capitalized to risk ratio	0.1000	0.1000
Tier one leverage capital	$ 593,609,000	$ 566,594,000
Tier one leverage capital to ratio	0.0858	0.0832
Tier one leverage capital required for capital adequacy	$ 276,712,000	$ 272,284,000
Tier one leverage capital required for capital adequacy to average assets ratio	0.0400	0.0400
Tier one leverage capital required to be well capitalized	$ 345,890,000	$ 340,355,000
Tier one leverage capital required to be well capitalized to average assets ratio	0.0500	0.0500
Regulatory capital conservation buffer	$ 232,621,000	$ 255,672,000
Regulatory capital conservation buffer ratio	0.0459	0.0555
Risk weighted assets	5,063,183,000	4,607,072,000
Minimum | PEOPLES
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Regulatory capital conservation buffer	126,781,000	115,356,000
Regulatory capital conservation buffer ratio	0.0250	0.0250
Minimum | PEOPLES BANK
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Regulatory capital conservation buffer	126,580,000	115,177,000
Regulatory capital conservation buffer ratio	$ 0.0250	$ 0.0250

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan discount	15%
Unvested restricted common shares	$ 4,100
Weighted-average period of recognition	1 year 10 months 24 days
Director | Treasury Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded (in shares)		4,347
Stock-based compensation		$ 135
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares authorized under the 2006 equity plan (in shares)	500,000
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Intrinsic value of awards vested	$ 3,700	$ 2,600	$ 2,000
Restricted Shares | Performance-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded (in shares)	154,645
Restricted Shares | Time-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded (in shares)	62,024
Vesting period	3 years
Restricted Shares | Minimum | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards expiration period	1 year
Restricted Shares | Maximum | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards expiration period	5 years
2006 Equity Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized under 2006 Equity Plan (in shares)	891,340

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Restricted Shares Activity (Details) - Restricted Shares	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Time-Based Vesting
Number of Common Shares
Outstanding at January 1 (in shares) | shares	88,922
Awarded (in shares) | shares	62,024
Released (in shares) | shares	(12,424)
Forfeited (in shares) | shares	0
Outstanding at December 31 (in shares) | shares	138,522
Weighted-Average Grant Date Fair Value
Outstanding at January 1 (in usd per share) | $ / shares	$ 25.44
Awarded (in usd per share) | $ / shares	30.88
Released (in usd per share) | $ / shares	32.37
Forfeited (in usd per share) | $ / shares	0
Outstanding at December 31 (in usd per share) | $ / shares	$ 27.25
Performance-Based Vesting
Number of Common Shares
Outstanding at January 1 (in shares) | shares	247,346
Awarded (in shares) | shares	154,645
Released (in shares) | shares	(100,664)
Forfeited (in shares) | shares	(5,452)
Outstanding at December 31 (in shares) | shares	295,875
Weighted-Average Grant Date Fair Value
Outstanding at January 1 (in usd per share) | $ / shares	$ 32.19
Awarded (in usd per share) | $ / shares	32.21
Released (in usd per share) | $ / shares	32.20
Forfeited (in usd per share) | $ / shares	32.14
Outstanding at December 31 (in usd per share) | $ / shares	$ 32.20

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation and Related Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 4,325	$ 3,890	$ 3,947
Recognized tax benefit	(1,007)	(867)	(818)
Net expense recognized	3,318	3,023	3,129
Total employee stock-based compensation expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	3,819	3,515	3,607
Restricted common share grant expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	3,707	3,436	3,556
Employee stock purchase plan expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	112	79	63
Performance stock unit benefit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0	0	(12)
Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 506	$ 375	$ 340

Revenue - Summary of Revenues (

Revenue - Summary of Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Commission and fees from sale of insurance policies	$ 13,960	$ 12,819
Fees related to third party insurance administration services	343	389
Performance-based commissions	1,424	2,044
Interchange income	16,674	14,254
Promotional and usage income	4,420	3,756
Ongoing maintenance fees for deposit accounts	5,323	3,807
Transaction-based fees	9,260	6,336
Other non-interest income transaction-based fees	1,499	968
Revenue	69,956	61,372
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue	57,111	51,481
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue	12,845	9,891
Commercial loan swap fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	662	543
Trust and investment income: | Fiduciary Income
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	10,048	10,490
Trust and investment income: | Brokerage Income
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 6,343	$ 5,966

Revenue - Schedule of Contract

Revenue - Schedule of Contract Assets and Liabilities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Contract Assets
Balance, January 1, 2022	$ 743
Additional income receivable	551
Balance, December 31, 2022	1,294
Contract Liabilities
Balance, January 1, 2022	4,811
Additional deferred income	939
Recognition of income previously deferred	(116)
Balance, December 31, 2022	$ 5,634

Acquisitions - Elite Narrative

Acquisitions - Elite Narrative (Details) $ in Thousands	Apr. 01, 2022 USD ($) location	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Intangible assets		$ 15,284	$ 18,521
Elite Agency, Inc
Business Acquisition [Line Items]
Number of business location acquired | location	5
Total consideration	$ 4,400
Intangible assets	$ 2,100

Acquisitions - Vantage Financia

Acquisitions - Vantage Financial Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 07, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Professional fees		$ 12,094	$ 15,783	$ 6,912
Vantage Financial LLC
Business Acquisition [Line Items]
Percentage of equity acquired	100%
Leases acquired	$ 154,925
Borrowings	106,919
Payments to acquire business	54,000
Repayments of debt	28,900
Total consideration	$ 82,893
Acquisition related costs		1,600
Professional fees		$ 1,300

Acquisitions - Vantage Financ_2

Acquisitions - Vantage Financial Summary (Details) - USD ($) $ in Thousands	Mar. 07, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Other intangible assets		$ 15,284	$ 18,521
Liabilities
Goodwill		292,397	$ 264,193	$ 171,260
Vantage Financial LLC
Business Acquisition [Line Items]
Total purchase price	$ 82,893
Assets
Total cash and cash equivalents	1,444
Leases	155,726
Allowance for credit losses (on PCD leases)	(801)
Net leases	154,925
Bank premises and equipment	116
Other intangible assets	13,207
Other assets	1,506
Total assets	171,198
Liabilities
Borrowings	106,919
Accrued expenses and other liabilities	8,550
Total liabilities	115,469
Net assets	55,729
Goodwill	$ 27,164	$ 27,200

Acquisitions - Vantage Purchase

Acquisitions - Vantage Purchased Deteriorated Loans (Details) - Vantage Financial LLC $ in Thousands	Mar. 07, 2022 USD ($)
Business Acquisition [Line Items]
Par value	$ 3,412
Allowance for credit losses	(801)
Non-credit premium	1,120
Fair value	3,731
Leases
Business Acquisition [Line Items]
Par value	3,412
Allowance for credit losses	(801)
Non-credit premium	1,120
Fair value	$ 3,731

Acquisitions - Premier Financia

Acquisitions - Premier Financial Bancorp Narrative (Details)		12 Months Ended
	Sep. 17, 2021 USD ($) branch shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)
Business Acquisition [Line Items]
Professional fees		$ 12,094,000	$ 15,783,000	$ 6,912,000
Common Stock
Business Acquisition [Line Items]
Issuance of common shares related to merger with Premier (in shares) | shares			8,589,685
Premier Financial Bancorp, Inc.
Business Acquisition [Line Items]
Number of branches operated | branch	48
Number of common shares of Peoples issued for each common share of Premier (in shares) | shares	0.58
Common share consideration	$ 261,899,000
Acquisition related costs		700,000
Professional fees		$ 200,000
Goodwill expected to be tax deductible	$ 0
Premier Financial Bancorp, Inc. | Common Stock
Business Acquisition [Line Items]
Issuance of common shares related to merger with Premier (in shares) | shares	8,589,685

Acquisitions - Premier Financ_2

Acquisitions - Premier Financial Bancorp Summary (Details) - USD ($) $ / shares in Units, $ in Thousands		Sep. 17, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks			$ 94,679	$ 74,354
Interest-bearing deposits in other banks			59,343	341,373
Financing receivable	[1]		4,707,150	4,481,600
Other real estate owned ("OREO")			8,900	9,500
Liabilities
Goodwill			292,397	264,193	$ 171,260
Construction
Assets
Financing receivable			246,941	210,232
Commercial and industrial
Assets
Financing receivable			892,634	891,392
Residential real estate
Assets
Financing receivable			723,360	771,718
Consumer
Assets
Financing receivable			$ 108,363	$ 104,652
Premier Financial Bancorp, Inc.
Business Acquisition [Line Items]
Premier common shares (in shares)		14,811,200
Number of common shares of Peoples issued for each common share of Premier (in shares)		0.58
Price per Peoples common share, based at closing date (in usd per share)		$ 30.49
Common share consideration		$ 261,899
Cash paid in lieu of fractional common shares		25
Total consideration		261,924
Assets
Cash and due from banks		248,360
Interest-bearing deposits in other banks		1,025
Total cash and cash equivalents		249,385
Allowance for credit losses (on PCD Loans)		(15,513)
Net loans		1,146,327
Bank premises and equipment		30,098
Servicing rights acquired		4,233
Other real estate owned ("OREO")		11,081
Other assets		26,982
Total assets		2,024,218
Liabilities
Short-term borrowings		63,807
Long-term borrowings		6,070
Accrued expenses and other liabilities		7,813
Total liabilities		1,829,234
Net assets		194,984
Goodwill		66,940
Premier Financial Bancorp, Inc. | Total deposits
Liabilities
Deposits:		1,751,544
Premier Financial Bancorp, Inc. | Non-interest-bearing
Liabilities
Deposits:		733,157
Premier Financial Bancorp, Inc. | Interest-bearing
Liabilities
Deposits:		1,018,387
Premier Financial Bancorp, Inc. | Investment securities
Assets
Acquired receivables, fair value		556,112
Premier Financial Bancorp, Inc. | Available-for-sale investment securities
Assets
Acquired receivables, fair value		551,953
Premier Financial Bancorp, Inc. | Other investment securities
Assets
Acquired receivables, fair value		4,159
Premier Financial Bancorp, Inc. | Total loans
Assets
Acquired receivables, fair value		1,161,840
Financing receivable		1,174,704
Premier Financial Bancorp, Inc. | Construction
Assets
Acquired receivables, fair value		96,025
Financing receivable		97,262
Allowance for credit losses (on PCD Loans)		(2,005)
Premier Financial Bancorp, Inc. | Commercial real estate, other
Assets
Acquired receivables, fair value		534,869
Financing receivable		544,950
Allowance for credit losses (on PCD Loans)		(9,053)
Premier Financial Bancorp, Inc. | Commercial and industrial
Assets
Acquired receivables, fair value		131,979
Financing receivable		132,293
Allowance for credit losses (on PCD Loans)		(3,630)
Premier Financial Bancorp, Inc. | Residential real estate
Assets
Acquired receivables, fair value		331,544
Financing receivable		332,269
Allowance for credit losses (on PCD Loans)		(696)
Premier Financial Bancorp, Inc. | Home equity lines of credit
Assets
Acquired receivables, fair value		45,910
Financing receivable		46,969
Allowance for credit losses (on PCD Loans)		(55)
Premier Financial Bancorp, Inc. | Consumer
Assets
Acquired receivables, fair value		21,513
Financing receivable		20,961
Allowance for credit losses (on PCD Loans)		$ (74)
[1]Also referred to throughout this Form 10-K as "total loans" and "loans held for investment."

Acquisitions - Schedule of Fina

Acquisitions - Schedule of Financing Receivable, Purchased with Credit Deterioration (Details) - Premier Financial Bancorp, Inc. $ in Thousands	Sep. 17, 2021 USD ($)
Business Acquisition [Line Items]
Par value	$ 147,853
Allowance for credit losses	(15,513)
Non-credit premium	(2,510)
Fair value	129,830
Construction
Business Acquisition [Line Items]
Par value	20,143
Allowance for credit losses	(2,005)
Non-credit premium	(214)
Fair value	17,924
Commercial real estate, other
Business Acquisition [Line Items]
Par value	97,193
Allowance for credit losses	(9,053)
Non-credit premium	(2,123)
Fair value	86,017
Commercial and industrial
Business Acquisition [Line Items]
Par value	9,948
Allowance for credit losses	(3,630)
Non-credit premium	113
Fair value	6,431
Residential real estate
Business Acquisition [Line Items]
Par value	18,349
Allowance for credit losses	(696)
Non-credit premium	(251)
Fair value	17,402
Home equity lines of credit
Business Acquisition [Line Items]
Par value	1,291
Allowance for credit losses	(55)
Non-credit premium	(72)
Fair value	1,164
Consumer
Business Acquisition [Line Items]
Par value	929
Allowance for credit losses	(74)
Non-credit premium	37
Fair value	$ 892

Acquisitions - NS Leasing Narra

Acquisitions - NS Leasing Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
		Apr. 01, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Loans	[1]		$ 4,707,150	$ 4,481,600
Goodwill			292,397	264,193	$ 171,260
Professional fees			12,094	15,783	$ 6,912
Leases
Business Acquisition [Line Items]
Loans			345,131	$ 122,508
North Star Leasing
Business Acquisition [Line Items]
Total consideration		$ 118,846
Potential earnout payments		3,100
Goodwill		24,720
Other intangible assets		14,009
Contingent consideration		3,000
Professional fees			$ 90
North Star Leasing | Leases
Business Acquisition [Line Items]
Loans		83,300
North Star Leasing | Short-term Debt
Business Acquisition [Line Items]
Total consideration		69,100
North Star Leasing | Cash
Business Acquisition [Line Items]
Total consideration		$ 116,500
[1]Also referred to throughout this Form 10-K as "total loans" and "loans held for investment."

Acquisitions - NS Leasing LLC S

Acquisitions - NS Leasing LLC Summary (Details) - USD ($) $ in Thousands		12 Months Ended
	Apr. 01, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks		$ 94,679	$ 74,354
Liabilities
Goodwill		292,397	264,193	$ 171,260
Noninterest expense		$ 207,147	$ 183,737	$ 133,695
North Star Leasing
Business Acquisition [Line Items]
Total purchase price	$ 118,846
Assets
Cash and due from banks	216
Net leases	82,833
Bank premises and equipment, net of accumulated depreciation	470
Other intangible assets	14,009
Other assets	1,225
Total assets	98,753
Liabilities
Accrued expenses and other liabilities	4,627
Total liabilities	4,627
Net assets	94,126
Goodwill	24,720
Contingent consideration, earn-out provision	2,300
Noninterest expense	$ 700

Acquisitions - Schedule of Purc

Acquisitions - Schedule of Purchased Credit Deteriorated leases (Details) - North Star Leasing $ in Thousands	Apr. 01, 2021 USD ($)
Business Acquisition [Line Items]
Par value	$ 5,248
Non-credit premium	85
Fair value	4,840
Leases
Business Acquisition [Line Items]
Allowance for credit losses	$ (493)

Parent Company Only Financial_3

Parent Company Only Financial Information - Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 94,679	$ 74,354
Other assets	139,379	89,134
Total assets	7,207,304	7,063,521
Liabilities
Accrued expenses and other liabilities	103,804	89,987
Total liabilities	6,421,976	6,218,496
Total stockholders' equity	785,328	845,025	$ 575,673	$ 594,393
Total liabilities and stockholders’ equity	7,207,304	7,063,521
Holding Company
Assets
Cash and due from banks	50	50
Interest-bearing deposits in subsidiary bank	14,961	15,202
Due from subsidiary bank	1,353	547
Other investment securities	234	220
Other assets	2,877	5,248
Total assets	805,713	867,582
Liabilities
Accrued expenses and other liabilities	3,336	5,660
Dividends payable	781	767
Junior subordinated debt securities	16,268	16,130
Total liabilities	20,385	22,557
Total stockholders' equity	785,328	845,025
Total liabilities and stockholders’ equity	805,713	867,582
Holding Company | PEOPLES BANK
Assets
Investments in subsidiaries	774,294	834,037
Holding Company | Non-Bank
Assets
Investments in subsidiaries	$ 11,944	$ 12,278

Parent Company Only Financial_4

Parent Company Only Financial Information - Condensed Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Statements
Total interest income	$ 269,554	$ 184,789	$ 157,104
Applicable income tax expense	27,349	9,415	7,879
Net income	101,292	47,555	34,767
Holding Company
Condensed Financial Statements
Interest and other income	39	73	16
Total interest income	53,899	30,823	49,016
Trust preferred securities expense	744	367	373
Intercompany management fees	1,379	1,303	1,369
Other expense	6,539	5,675	5,376
Total expense	8,662	7,345	7,118
Income before federal income taxes and equity in undistributed earnings of subsidiaries	45,237	23,478	41,898
Applicable income tax expense	(1,979)	(1,295)	(1,128)
Equity in (excess dividends from) undistributed earnings of subsidiaries	54,076	22,782	(8,259)
Net income	101,292	47,555	34,767
Holding Company | PEOPLES BANK
Condensed Financial Statements
Dividends from subsidiary bank	52,000	29,000	49,000
Holding Company | Non-Bank
Condensed Financial Statements
Dividends from subsidiary bank	$ 1,860	$ 1,750	$ 0

Parent Company Only Financial_5

Parent Company Only Financial Information - Statements of Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Net income	$ 101,292	$ 47,555	$ 34,767
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net	17,319	24,643	25,639
Gain on investment securities	61	862	368
Net cash provided by operating activities	119,839	156,420	85,483
Investing activities:
Business acquisitions, net of cash received	(85,791)	132,719	(94,856)
Net cash used in investing activities	(414,214)	(74,433)	(393,919)
Financing activities:
Purchase of treasury stock	(7,407)	0	(29,281)
Proceeds from issuance of common shares	1,226	906	594
Cash dividends paid	(42,372)	(31,002)	(27,052)
Net cash provided by financing activities	32,670	181,640	345,343
Net (decrease) increase in cash and cash equivalents	(261,705)	263,627	36,907
Cash and cash equivalents at beginning of period	415,727
Cash and cash equivalents at end of period	154,022	415,727
Holding Company
Operating activities:
Net income	101,292	47,555	34,767
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net	138	6,224	161
(Equity in) excess dividends from undistributed earnings of subsidiaries	(54,076)	(22,782)	8,259
Gain on investment securities	0	0	(8)
Other, net	5,008	3,930	8,492
Net cash provided by operating activities	52,362	34,927	51,671
Investing activities:
Net proceeds from sales and maturities of investment securities	0	10	10
Investment in subsidiaries	(13,084)	(16,282)	(35,238)
Decrease in receivable from subsidiary	12,279	16,344	34,719
Business acquisitions, net of cash received	(1,239)	(710)	0
Other, net	(262)	(1,998)	(76)
Net cash used in investing activities	(2,306)	(2,636)	(585)
Financing activities:
Purchase of treasury stock	(9,152)	(1,306)	(30,409)
Proceeds from issuance of common shares	1,226	906	594
Cash dividends paid	(42,371)	(31,002)	(27,052)
Net cash provided by financing activities	(50,297)	(31,402)	(56,867)
Net (decrease) increase in cash and cash equivalents	(241)	889	(5,781)
Cash and cash equivalents at beginning of period	15,252	14,363	20,144
Cash and cash equivalents at end of period	15,011	15,252	14,363
Supplemental cash flow information:
Interest paid	$ 663	$ 331	$ 385

Uncategorized Items - pebo-2022

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]