Peoples Bancorp (PEBO) 10-K 28 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Feb. 27, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
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,
Entity Address, Address Line Two	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
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 888,915
Entity Common Stock, Shares Outstanding		35,493,152
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 25, 2024 (the “2024 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	2023
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
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, 2023	Dec. 31, 2022
Cash and cash equivalents:
Cash and due from banks		$ 111,680	$ 94,679
Interest-bearing deposits in other banks		315,042	59,343
Total cash and cash equivalents		426,722	154,022
Available-for-sale investment securities, at fair value (amortized cost of $1,184,288 at December 31, 2023 and $1,300,719 at December 31, 2022)	[1]	1,048,322	1,131,399
Held-to-maturity investment securities, at amortized cost (fair value of $612,022 at December 31, 2023 and $478,509 at December 31, 2022)	[1]	683,657	560,212
Other investment securities		63,421	51,609
Total investment securities	[1]	1,795,400	1,743,220
Loans and leases, net of deferred fees and costs	[2]	6,159,196	4,707,150
Allowance for credit losses		(62,011)	(53,162)
Net loans and leases		6,097,185	4,653,988
Loans held for sale		1,866	2,140
Bank premises and equipment, net of accumulated depreciation		103,856	82,934
Bank owned life insurance		140,554	105,292
Goodwill		362,169	292,397
Other intangible assets		50,003	33,932
Other assets		179,627	139,379
Total assets		9,157,382	7,207,304
Deposits:
Non-interest-bearing		1,567,649	1,589,402
Interest-bearing		5,584,648	4,127,539
Total deposits		7,152,297	5,716,941
Short-term borrowings		601,121	500,138
Long-term borrowings		216,241	101,093
Accrued expenses and other liabilities		134,189	103,804
Total liabilities		8,103,848	6,421,976
Stockholders’ Equity
Preferred shares, no par value, 50,000 shares authorized and no shares issued at December 31, 2023 and December 31, 2022		0	0
Common shares, no par value, 50,000,000 shares authorized, 36,736,041 shares issued at December 31, 2023 and 29,857,920 shares issued at December 31, 2022, including shares held in treasury		865,227	686,450
Retained earnings		327,237	265,936
Accumulated other comprehensive loss, net of deferred income taxes		(101,590)	(127,136)
Treasury stock, at cost, 1,511,348 common shares at December 31, 2023 and 1,643,461 common shares at December 31, 2022		(37,340)	(39,922)
Total stockholders’ equity		1,053,534	785,328
Total liabilities and stockholders’ equity		$ 9,157,382	$ 7,207,304
[1] Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $238, respectively, at December 31, 2023 and $0 and $241, respectively, at December 31, 2022. 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, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Debt securities, available-for-sale, amortized cost	$ 1,184,288,000	$ 1,300,719,000
Debt securities, held-to-maturity, fair value	$ 612,022,000	$ 478,509,000
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)	36,736,041	29,857,920
Treasury stock, shares (in shares)	1,511,348	1,643,461
Debt securities available for sale, allowance for credit loss	$ 0	$ 0
Debt securities held to maturity, allowance for credit loss	$ 238,000	$ 241,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest income:
Interest and fees on loans		$ 383,032	$ 234,765	$ 166,081
Interest and dividends on taxable investment securities		49,282	28,903	15,033
Interest on tax-exempt investment securities		4,326	4,176	3,362
Other interest income		2,763	1,710	313
Total interest income		439,403	269,554	184,789
Interest expense:
Interest on deposits		72,147	9,171	9,922
Interest on short-term borrowings		19,722	2,661	541
Interest on long-term borrowings		8,160	4,280	1,773
Total interest expense		100,029	16,112	12,236
Net interest income		339,374	253,442	172,553
Provision for (recovery of) credit losses	[1]	15,174	(3,510)	731
Net interest income after provision for (recovery of) credit losses		324,200	256,952	171,822
Non-interest income:
Insurance income		18,016	15,727	15,252
Lease income		5,552	4,267	1,293
Bank owned life insurance income		4,151	2,624	1,767
Mortgage banking income		1,078	1,397	3,439
Net (loss) gain on asset disposals and other transactions		(2,837)	(616)	493
Net loss on investment securities		(3,700)	(61)	(862)
Other non-interest income	[2]	6,101	3,430	2,894
Total non-interest income		87,413	78,836	68,885
Non-interest expense:
Salaries and employee benefit costs		144,031	112,690	94,612
Net occupancy and equipment expense		21,368	19,516	14,918
Data processing and software expense		21,607	14,241	10,542
Professional fees		17,041	12,094	15,783
Amortization of other intangible assets		11,222	7,763	4,775
Electronic banking expense		7,150	9,231	8,885
Marketing expense		5,017	3,728	3,658
FDIC insurance expense		4,785	3,702	1,976
Franchise tax expense		3,540	3,487	3,357
Other loan expenses		2,859	2,735	2,001
Communication expense		2,834	2,484	1,657
Other non-interest expense		25,033	15,476	21,573
Total non-interest expense		266,487	207,147	183,737
Income before income taxes		145,126	128,641	56,970
Income tax expense		31,763	27,349	9,415
Net income		$ 113,363	$ 101,292	$ 47,555
Earnings per common share – basic (in usd per share)		$ 3.46	$ 3.61	$ 2.17
Earnings per common share – diluted (in usd per share)		$ 3.44	$ 3.60	$ 2.15
Weighted-average number of common shares outstanding – basic (in shares)		32,533,086	27,908,022	21,816,511
Weighted-average number of common shares outstanding – diluted (in shares)		32,760,808	27,999,602	21,959,883
Electronic banking income
Non-interest income:
Revenue from contract with customer		$ 25,210	$ 21,094	$ 18,010
Trust and investment income
Non-interest income:
Revenue from contract with customer		17,160	16,391	16,456
Deposit account service charges
Non-interest income:
Revenue from contract with customer		$ 16,682	$ 14,583	$ 10,143
[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 losses on equity investment securities recorded in other non-interest income of $141 for the year ended December 31, 2023, and realized and unrealized gains of $2 and $111 for the years ended December 31, 2022 and December 31, 2021, respectively.

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Realized and unrealized gain (loss)	$ (141)	$ 2	$ 111

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 113,363	$ 101,292	$ 47,555
Available-for-sale investment securities:
Gross unrealized holding gain (loss) arising in the period	29,655	(161,730)	(26,985)
Related tax (expense) benefit	(6,817)	37,733	5,777
Reclassification adjustment for net loss included in net income	3,700	61	862
Related tax expense	(864)	(14)	(192)
Net effect on other comprehensive income (loss)	25,674	(123,950)	(20,538)
Defined benefit plans:
Net (loss) gain arising during the period	(303)	76	2,318
Related tax benefit (expense)	71	(18)	(518)
Amortization of unrecognized loss on service benefit plans	9	63	103
Related tax benefit	(2)	(15)	(23)
Realized loss due to settlement and curtailment	2,424	185	143
Related tax benefit	(566)	(43)	(32)
Net effect on other comprehensive income	1,633	248	1,991
Cash flow hedges:
Net (losses) gains arising during the period	(2,293)	10,606	6,999
Related tax benefit (expense)	532	(2,421)	(1,407)
Net effect on other comprehensive (loss) income	(1,761)	8,185	5,592
Total other comprehensive income (loss), net of tax	25,546	(115,517)	(12,955)
Total comprehensive income (loss)	$ 138,909	$ (14,225)	$ 34,600

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance 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 loss, net of tax	(12,955)			(12,955)
Cash dividends declared	(31,170)		(31,170)
Pension termination settlement, net of tax	111
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 program and 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
Ending balance 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 loss, net of tax	(115,517)			(115,517)
Cash dividends declared	(42,432)		(42,432)
Pension termination settlement, net of tax	142
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 program and 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
Ending balance at Dec. 31, 2022	785,328	686,450	265,936	(127,136)	(39,922)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	113,363		113,363
Other comprehensive income excluding pension termination settlement, net of tax	23,688			23,688
Other comprehensive loss, net of tax	25,546
Cash dividends declared	(52,062)		(52,062)
Pension termination settlement, net of tax	1,858			1,858
Reissuance of treasury stock for common share awards	0	(5,944)			5,944
Reissuance of treasury stock for deferred compensation plan for Boards of Directors	115				115
Repurchase of treasury stock in connection with employee incentive program and compensation plan for Boards of Directors	(1,769)				(1,769)
Common shares repurchased under share repurchase program	(3,030)				(3,030)
Common shares issued under dividend reinvestment plan	1,324	1,324
Common shares issued under compensation plan for Boards of Directors	548	62			486
Stock-based compensation	5,337	5,337
Common shares issued under employee stock purchase plan	905	69			836
Issuance of common shares related to the Premier Merger	177,929	177,929
Ending balance at Dec. 31, 2023	$ 1,053,534	$ 865,227	$ 327,237	$ (101,590)	$ (37,340)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities:
Net income	$ 113,363	$ 101,292	$ 47,555
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net	3,668	17,319	24,643
Provision for (recovery of) credit losses	15,174	(3,510)	731
Bank owned life insurance income	(4,151)	(2,624)	(1,767)
Net loss on investment securities	3,700	61	862
Fair value adjustment on equity investment securities	141	(2)	(111)
Loans originated for sale	(33,196)	(48,081)	(94,154)
Proceeds from sales of loans	34,041	50,442	157,349
Net gains on sales of loans	(659)	(994)	(2,994)
Deferred income tax (benefit) expense	(238)	18,566	2,874
Increase (decrease) in accrued expenses	13,194	(4,692)	2,433
(Increase) decrease in interest receivable	(6,443)	(5,836)	1,435
Increase in other assets	962	1,629	2,874
Increase (decrease) in interest payable	6,621	(420)	(282)
Increase in operating lease assets	(13,817)	0	0
Change in lease right-of-use assets and lease liabilities	(335)	(38)	509
Stock-based compensation	6,025	4,325	3,890
Other, net	5,593	(7,598)	10,573
Net cash provided by operating activities	143,643	119,839	156,420
Available-for-sale investment securities:
Purchases	(75,351)	(246,155)	(852,542)
Proceeds from sales	198,893	28,663	544,096
Proceeds from principal payments, calls and prepayments	151,047	190,143	297,693
Held-to-maturity investment securities:
Purchases	(207,428)	(206,768)	(316,346)
Proceeds from principal payments	84,116	19,033	7,333
Other investment securities:
Purchases	(27,206)	(23,632)	(1,415)
Proceeds from sales	21,281	5,784	9,299
Net (increase) decrease in loans held for investment	(356,075)	(58,142)	113,467
Net expenditures for premises and equipment	(13,458)	(6,753)	(6,685)
Proceeds from sales of other real estate owned	129	572	2,073
Investment in bank owned life insurance	0	(30,000)	0
Proceeds from bank owned life insurance	227	689	0
Business acquisitions, net of cash received	92,594	(85,791)	132,719
Investment in limited partnership and tax credit funds	(1,699)	(1,857)	(4,125)
Net cash used in investing activities	(132,930)	(414,214)	(74,433)
Financing activities:
Net (decrease) increase in non-interest-bearing deposits	(284,480)	(52,020)	150,986
Net increase (decrease) in interest-bearing deposits	485,921	(93,082)	49,774
Net increase in short-term borrowings	40,983	328,611	14,414
Proceeds from long-term borrowings	115,108	24,804	0
Payments on long-term borrowings	(40,165)	(125,345)	(2,132)
Cash dividends paid	(51,845)	(42,372)	(31,002)
Repurchase of treasury stock under share repurchase program	(3,030)	(7,407)	0
Purchase of treasury stock in connection with employee incentive program and compensation plan for Boards of Directors to be held as treasury stock	(1,769)	(1,745)	(1,306)
Proceeds from issuance of common shares	1,264	1,226	906
Net cash provided by financing activities	261,987	32,670	181,640
Net increase (decrease) in cash and cash equivalents	272,700	(261,705)	263,627
Cash and cash equivalents at beginning of period	154,022	415,727	152,100
Cash and cash equivalents at end of period	426,722	154,022	415,727
Supplemental cash flow information:
Interest paid	90,367	16,270	13,391
Income taxes paid	29,866	4,131	6,693
Supplemental noncash disclosures:
Transfers from loans to other real estate owned	31	110	298
Noncash recognition of new leases	$ 4,428	$ 880	$ 2,482

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
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 U.S. generally accepted accounting principles (“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 Insurance Agency, LLC (“Peoples Insurance”) and Vantage Financial, LLC (“Vantage”)), Peoples Investment Company, NB&T Statutory Trust III, FNB Capital Trust One, Ascencia Statutory Trust I, and Porter Statutory Trusts II-IV, 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 securitization, 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 90 days or less. Peoples had no restricted funds at December 31, 2023 or at December 31, 2022 held in interest-bearing deposits in other banks, which were being used as collateral and not available for withdrawal. 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 accumulated other comprehensive loss (“AOCL”), 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 20 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. 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 and Ohio unemployment 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, 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 categorizes loans involving commercial borrowers into risk categories based upon an established grading matrix. This system is 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 and reverses accrued interest on nonperforming loans against interest income in a timely manner. 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. 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 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 AOCL 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 AOCL (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 at December 31, 2023. 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 proportional amortization 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 $13.1 million and $15.1 million at December 31, 2023 and 2022, 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 $7.2 million at December 31, 2023 and $8.9 million at December 31, 2022. 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 payments on those securities can impact interest income due to the corresponding acceleration of premium amortization or discount accretion. 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 and credit 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 and credit 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 and credit 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 i

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2023
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, 2023 and December 31, 2022, 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, 2023 December 31, 2022 (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 $ 30,296 $ — $ 152,422 $ — U.S. government sponsored agencies — 118,607 — 88,115 States and political subdivisions — 213,296 — 225,882 Residential mortgage-backed securities — 628,924 — 604,653 Commercial mortgage-backed securities — 51,234 — 50,049 Bank-issued trust preferred securities — 5,965 — 10,278 Total available-for-sale securities 30,296 1,018,026 152,422 978,977 Equity investment securities (a) 191 237 147 199 Derivative assets (b) — 22,304 — 34,123 Liabilities: Derivative liabilities (c) $ — $ 19,122 $ — $ 28,529 (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 (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, 2023 and December 31, 2022, 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, 2023 December 31, 2022 (Dollars in thousands) Level 2 Level 3 Level 2 Level 3 Collateral dependent loans $ — $ 501 $ — $ 10,354 Loans held for sale (a) 1,663 — 1,254 — Other real estate owned (“OREO”) — 7,118 — 55 (a) Loans held for sale are presented gross of a valuation allowance of $163 and $105 at December 31, 2023 and December 31, 2022, respectively. 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, 2023 December 31, 2022 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents 1 $ 426,722 $ 426,722 $ 154,022 $ 154,022 Held-to-maturity investment securities: Obligations of: U.S. government sponsored agencies 2 188,475 180,825 132,366 123,020 States and political subdivisions (a) 2 144,496 114,288 145,263 108,776 Residential mortgage-backed securities 2 248,559 231,620 176,215 157,998 Commercial mortgage-backed securities 2 102,365 85,289 101,861 85,354 Commercial mortgage-backed securities 3 — — 4,748 3,361 Total held-to-maturity securities 683,895 612,022 560,453 478,509 Other investment securities: Other investment securities at cost: Federal Home Loan Bank (“FHLB”) stock N/A 29,949 29,949 26,605 26,605 Federal Reserve Bank (“FRB”) stock N/A 26,896 26,896 21,231 21,231 Total other investment securities at cost 56,845 56,845 47,836 47,836 Other investment securities at fair value: Nonqualified deferred compensation (b) 1 3,162 3,162 2,048 2,048 Other investment securities (c) 2 2,985 2,985 1,379 1,379 Total other investment securities at fair value 62,992 62,992 51,263 51,263 Loans and leases, net of deferred fees and costs (d) 3 6,159,196 6,064,999 4,707,150 4,516,695 Bank owned life insurance 2 140,554 140,554 105,292 105,292 Financial liabilities: Deposits 2 $ 7,152,297 $ 6,319,885 $ 5,716,941 $ 4,682,491 Short-term borrowings 2 601,121 619,999 500,138 504,584 Long-term borrowings 2 216,241 222,743 101,093 101,992 (a) Held-to-maturity investment securities are presented gross of an allowance for credit losses of $238 and $241, at December 31, 2023 and at December 31, 2022, 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, 2023 and at December 31, 2022, 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 $62.0 million and $53.2 million, as of December 31, 2023 and December 31, 2022, respectively. 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 90 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 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, 2023
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 2023 Obligations of: U.S. Treasury and government agencies $ 30,999 $ 292 $ (995) $ 30,296 U.S. government sponsored agencies 128,500 639 (10,532) 118,607 States and political subdivisions 239,906 485 (27,095) 213,296 Residential mortgage-backed securities 717,772 1,819 (90,667) 628,924 Commercial mortgage-backed securities 60,611 5 (9,382) 51,234 Bank-issued trust preferred securities 6,500 — (535) 5,965 Total available-for-sale securities $ 1,184,288 $ 3,240 $ (139,206) $ 1,048,322 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 The unrealized losses related to residential mortgage-backed securities at December 31, 2023 and 2022 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) 2023 2022 2021 Gross gains realized $ 1,550 $ 314 $ 1,184 Gross losses realized 5,250 375 2,046 Net loss realized $ (3,700) $ (61) $ (862) 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 2023 Obligations of: U.S. Treasury and government agencies $ 8,568 $ 83 22 $ 11,631 $ 912 5 $ 20,199 $ 995 U.S. government sponsored agencies 14,439 35 4 74,211 10,497 15 88,650 10,532 States and political subdivisions 18,268 136 32 167,346 26,959 138 185,614 27,095 Residential mortgage-backed securities 58,671 1,150 66 529,895 89,517 238 588,566 90,667 Commercial mortgage-backed securities 6,000 112 7 44,656 9,270 21 50,656 9,382 Bank-issued trust preferred securities 1,984 16 1 3,981 519 3 5,965 535 Total $ 107,930 $ 1,532 132 $ 831,720 $ 137,674 420 $ 939,650 $ 139,206 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 Management evaluates available-for-sale investment securities for an allowance of credit losses on a quarterly basis. At December 31, 2023, management concluded that no individual securities at an unrealized loss position required an allowance for credit losses. At December 31, 2023, 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, 2023 and 2022 were largely attributable to changes in market interest rates and spreads since the securities were purchased. Accrued interest receivable is not included in the 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 $8.8 million at December 31, 2023 and $7.8 million at December 31, 2022. The unrealized losses with respect to the three bank-issued trust preferred securities that had been in an unrealized loss position for twelve months or more at December 31, 2023 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, 2023. 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 $ 1,283 $ 15,302 $ 8,403 $ 6,011 $ 30,999 U.S. government sponsored agencies 2,499 59,086 34,849 32,066 128,500 States and political subdivisions 11,042 46,054 59,932 122,878 239,906 Residential mortgage-backed securities 3 3,690 61,069 653,010 717,772 Commercial mortgage-backed securities — 12,502 27,191 20,918 60,611 Bank-issued trust preferred securities — 3,000 3,500 — 6,500 Total available-for-sale securities $ 14,827 $ 139,634 $ 194,944 $ 834,883 $ 1,184,288 Fair value Obligations of: U.S. Treasury and government agencies $ 1,275 $ 14,354 $ 8,493 $ 6,174 $ 30,296 U.S. government sponsored agencies 2,486 54,898 30,426 30,797 118,607 States and political subdivisions 10,990 43,535 51,294 107,477 213,296 Residential mortgage-backed securities 3 3,570 56,084 569,267 628,924 Commercial mortgage-backed securities — 11,370 23,061 16,803 51,234 Bank-issued trust preferred securities — 2,920 3,045 — 5,965 Total available-for-sale securities $ 14,754 $ 130,647 $ 172,403 $ 730,518 $ 1,048,322 Total weighted-average yield 2.30 % 2.58 % 2.42 % 2.59 % 2.56 % 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 2023 Obligations of: U.S. government sponsored agencies $ 188,475 $ — $ 489 $ (8,139) $ 180,825 States and political subdivisions 144,496 (238) 134 (30,104) 114,288 Residential mortgage-backed securities 248,559 — 1,643 (18,582) 231,620 Commercial mortgage-backed securities 102,365 — — (17,076) 85,289 Total held-to-maturity securities $ 683,895 $ (238) $ 2,266 $ (73,901) $ 612,022 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 There were no sales of held-to-maturity securities during the years ended December 31, 2023 and December 31, 2022. 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 2023 Obligations of: U.S. government sponsored agencies $ 64,487 $ 356 14 $ 86,071 $ 7,783 18 $ 150,558 $ 8,139 States and political subdivisions — — — 111,040 30,104 67 111,040 30,104 Residential mortgage-backed securities 44,379 1,105 14 117,654 17,477 34 162,033 18,582 Commercial mortgage-backed securities 13,919 1,845 6 71,370 15,231 31 85,289 17,076 Total $ 122,785 $ 3,306 34 $ 386,135 $ 70,595 150 $ 508,920 $ 73,901 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 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, 2023. 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 $ 8,000 $ 13,152 $ 67,043 $ 100,280 $ 188,475 States and political subdivisions — 6,421 11,434 126,641 144,496 Residential mortgage-backed securities — 540 4,347 243,672 248,559 Commercial mortgage-backed securities 1,546 9,419 40,495 50,905 102,365 Total held-to-maturity securities $ 9,546 $ 29,532 $ 123,319 $ 521,498 $ 683,895 Fair value Obligations of: U.S. government sponsored agencies $ 7,931 $ 12,640 $ 66,717 $ 93,537 $ 180,825 States and political subdivisions — 6,343 9,875 98,070 114,288 Residential mortgage-backed securities — 528 3,818 227,274 231,620 Commercial mortgage-backed securities 1,528 8,058 34,752 40,951 85,289 Total held-to-maturity securities $ 9,459 $ 27,569 $ 115,162 $ 459,832 $ 612,022 Total weighted-average yield 3.81 % 2.87 % 3.98 % 3.55 % 3.60 % 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) 2023 2022 FHLB stock $ 29,949 $ 26,605 FRB stock 26,896 21,231 Nonqualified deferred compensation 3,162 2,048 Equity investment securities 429 346 Other investment securities 2,985 1,379 Total other investment securities $ 63,421 $ 51,609 Peoples redeemed $21.2 million and $2.6 million of FHLB stock in 2023 and 2022, respectively, in order to be in compliance with the requirements of the FHLB. Peoples purchased $18.9 million and $11.9 million of additional FHLB stock during 2023 and 2022, respectively, as a result of the FHLB’s capital requirements on FHLB advances during the year. During the year ended December 31, 2023, Peoples purchased $5.7 million of FRB stock as a result of capital requirements. 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 2023, Peoples recorded the change in the fair value of equity investment securities held at December 31, 2023 in “Other non-interest income,” resulting in an unrealized loss of $141,000. 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 unrealized gain of $2,000. At December 31, 2023, 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, 2023 and 2022, 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. The following table summarizes the carrying value of Peoples’ pledged investment securities as of December 31: Carrying Amount (Dollars in thousands) 2023 2022 Securing public and trust department deposits, and Repurchase Agreements: Available-for-sale $ 713,033 $ 779,244 Held-to-maturity 559,142 312,921 Securing additional borrowing capacity at the FHLB and the FRB: Available-for-sale 85,899 3,972 Held-to-maturity 39,607 128,870

Loans and Leases

Loans and Leases	12 Months Ended
	Dec. 31, 2023
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 (“NSL”) division and its Vantage subsidiary. Throughout this Form 10-K, loans and leases are referred to as “total loans” and “loans held for investment.” 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) 2023 2022 Construction $ 364,019 $ 246,941 Commercial real estate, other 2,196,957 1,423,518 Commercial and industrial 1,184,986 892,634 Premium finance 203,177 159,197 Leases 414,060 345,131 Residential real estate 791,095 723,360 Home equity lines of credit 208,675 177,858 Consumer, indirect 666,472 629,426 Consumer, direct 128,769 108,363 Deposit account overdrafts 986 722 Total loans, at amortized cost $ 6,159,196 $ 4,707,150 Net deferred loan origination costs were $21.7 million and $20.5 million at December 31, 2023 and 2022, respectively. 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. Total interest receivable on loans was $24.5 million at December 31, 2023 and $15.4 million at December 31, 2022. 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: 2023 2022 (Dollars in thousands) Nonaccrual (a) Accruing Loans 90+ Days Past Due Nonaccrual (a) Accruing Loans 90+ Days Past Due Construction $ — $ — $ 12 $ — Commercial real estate, other 2,816 78 12,121 167 Commercial and industrial 2,758 316 3,462 130 Premium finance — 1,355 — 504 Leases 8,436 3,826 3,178 3,041 Residential real estate 7,921 877 9,496 917 Home equity lines of credit 1,022 171 820 58 Consumer, indirect 2,412 68 2,176 — Consumer, direct 112 25 208 25 Total loans, at amortized cost $ 25,477 $ 6,716 $ 31,473 $ 4,842 (a) There were $1.2 million of nonaccrual loans for which there was no allowance for credit losses at December 31, 2023 and $1.4 million of such loans at December 31, 2022. The amount of interest income recognized on loans past due 90 days or more during 2023 and 2022 was $0.8 million and $1.7 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 2023 Construction $ 13 $ 52 $ — $ 65 $ 363,954 $ 364,019 Commercial real estate, other 2,728 4,556 1,572 8,856 2,188,101 2,196,957 Commercial and industrial 1,717 1,491 3,052 6,260 1,178,726 1,184,986 Premium finance 1,288 867 1,355 3,510 199,667 203,177 Leases 12,743 4,932 12,014 29,689 384,371 414,060 Residential real estate 14,021 2,733 4,481 21,235 769,860 791,095 Home equity lines of credit 1,561 691 683 2,935 205,740 208,675 Consumer, indirect 7,488 1,550 1,230 10,268 656,204 666,472 Consumer, direct 536 282 43 861 127,908 128,769 Deposit account overdrafts — — — — 986 986 Total loans, at amortized cost $ 42,095 $ 17,154 $ 24,430 $ 83,679 $ 6,075,517 $ 6,159,196 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 Delinquency trends remained stable as 98.6% of Peoples’ portfolio was considered “current” both at December 31, 2023, and at December 31, 2022. 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) 2023 2022 Loans pledged to FHLB $ 1,206,134 $ 783,843 Loans pledged to FRB 419,245 339,005 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, 2023, no related party loan was past due 90 or more days 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, 2022 $ 27,372 Acquired loans 18,892 New loans and disbursements 466 Repayments (215) No longer related party (a) (26,696) Other changes 347 Balance, December 31, 2023 $ 20,166 (a) Two directors exited the company and therefore were no longer considered related parties. 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, 2023: Term Loans at Amortized Cost by Origination Year (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Total Loans Construction Pass $ 80,273 $ 141,245 $ 85,913 $ 27,169 9,995 $ 12,723 $ — $ — $ 357,318 Special mention — 3,757 — — — 123 — — 3,880 Substandard 1,200 1,590 — — — 31 — — 2,821 Total 81,473 146,592 85,913 27,169 9,995 12,877 — — 364,019 Current period gross charge-offs — — 9 — — — 9 Commercial real estate, other Pass 199,565 327,762 366,752 227,604 262,099 650,265 37,177 189 2,071,224 Special mention 999 12,975 4,850 10,324 7,074 22,186 408 41 58,816 Substandard 287 2,421 5,878 8,679 1,972 47,213 457 — 66,907 Doubtful — — — — — 10 — — 10 Total 200,851 343,158 377,480 246,607 271,145 719,674 38,042 230 2,196,957 Current period gross charge-offs — — — 39 — 575 614 Commercial and industrial Pass 225,894 180,068 212,938 86,934 55,434 132,675 213,714 38 1,107,657 Special mention 540 12,051 533 9,723 4,722 6,336 16,236 8,614 50,141 Substandard 78 6,441 5,104 5,617 1,602 6,278 1,889 779 27,009 Doubtful — — — — — 179 — — 179 Total 226,512 198,560 218,575 102,274 61,758 145,468 231,839 9,431 1,184,986 Current period gross charge-offs — 36 202 25 173 415 851 Premium finance Pass 201,659 1,517 1 — — — — — 203,177 Total 201,659 1,517 1 — — — — — 203,177 Current period gross charge-offs 25 97 — — — — 122 Leases Pass 216,559 114,327 51,307 14,061 4,883 1,501 — 402,638 Special mention 363 1,529 476 81 1 5 2,455 Substandard 1,937 3,006 2,944 448 321 311 8,967 Total 218,859 118,862 54,727 14,590 5,205 1,817 — — 414,060 Current period gross charge-offs 963 1,328 1,173 233 165 135 3,997 Residential real estate Pass 75,957 91,506 140,157 58,144 45,507 369,552 — — 780,823 Substandard 43 243 585 182 529 8,604 — — 10,186 Loss — — — — — 86 — — 86 Total 76,000 91,749 140,742 58,326 46,036 378,242 — — 791,095 Current period gross charge-offs — — — — — 170 170 Home equity lines of credit Pass 39,706 42,565 33,406 19,838 14,297 57,482 27 1,346 207,321 Substandard 19 — 61 34 123 1,109 — — 1,346 Loss — — — — — 8 — — 8 Total 39,725 42,565 33,467 19,872 14,420 58,599 27 1,346 208,675 Current period gross charge-offs — — — — — 110 110 Consumer, indirect Pass 247,829 225,225 96,698 59,044 18,644 15,977 — — 663,417 Substandard 333 934 789 558 190 206 — — 3,010 Loss 7 34 2 — 2 — — — 45 Total 248,169 226,193 97,489 59,602 18,836 16,183 — — 666,472 Current period gross charge-offs 609 2,091 865 255 63 147 4,030 Consumer, direct Pass 58,445 37,050 17,434 8,282 3,185 4,081 — — 128,477 Substandard 55 79 47 28 30 27 — — 266 Loss — — — — — 26 — — 26 Total 58,500 37,129 17,481 8,310 3,215 4,134 — — 128,769 Current period gross charge-offs 36 154 77 100 14 35 416 Deposit account overdrafts 986 — — — — — — — 986 Current period gross charge-offs 1,161 1,161 Total loans, at amortized cost $ 1,352,734 $ 1,206,325 $ 1,025,875 $ 536,750 $ 430,610 $ 1,336,994 $ 269,908 $ 11,007 $ 6,159,196 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 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 generally 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, on residential real estate property. • 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 as of December 31: (Dollars in thousands) 2023 2022 Commercial real estate, other $ — $ 8,362 Commercial and industrial — 1,456 Residential real estate 501 536 Total collateral dependent loans $ 501 $ 10,354 The decrease in collateral dependent loans at December 31, 2023 compared to at December 31, 2022, was primarily due to three large-relationships that were paid in full during the year. Modifications for Borrowers Experiencing Financial Difficulty Subsequent to the Adoption of ASU 2022-02 As part of Peoples’ loss mitigation activities, Peoples may agree to modify the contractual terms of a loan to a borrower experiencing financial difficulty. The most common modifications to the contractual terms of a loan to a borrower experiencing financial difficulty include an extension of the maturity date, a reduction in the interest rate for the remaining life of the loan, a temporary period of interest-only payments, and a reduction in the contractual payment amount for either a short period or the remaining term of the loan. In addition to loan modifications, Peoples also provides other loss mitigation options, such as forbearance and repayment plans, to assist borrowers who experience financial difficulties. In assessing whether or not a borrower is experiencing financial difficulty, 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. The following table displays the amortized cost of loans that were restructured during the twelve months ended December 31, 2023, presented by loan classification. During the Twelve Months Ended December 31, 2023 (a) Payment Delay (Only) (Dollars in thousands) Forbearance Plan Payment Deferral Trial Modification and Repayment Plans Term Extension Forbearance Plan and Term Extension Total Percentage of Total by Loan Category (b) Construction $ — $ 1,590 $ — $ 52 $ — $ 1,642 0.45 % Commercial real estate 184 — — 2,160 — 2,344 0.11 % Commercial and industrial — — — 4,110 981 5,091 0.43 % Residential real estate — — — 91 — 91 0.01 % Home equity lines of credit — — — 209 — 209 0.10 % Total $ 184 $ 1,590 $ — $ 6,622 $ 981 $ 9,377 0.15 % (a) The table presented above excludes loans that were paid off or otherwise no longer included in the loan portfolio as of period end. (b) Based on the amortized cost basis as of period end, divided by the period end amortized cost basis of the corresponding class of financing receivable. The following table summarizes the financial impacts of loan modifications and payment deferrals made to loans during the twelve months ended December 31, 2023, presented by loan classification. During the Twelve Months Ended December 31, 2023 (Dollars in thousands) Weighted-Average Term Extension Average Amount Capitalized as a Result of a Payment Delay (a) Construction 5 $ — Commercial real estate 7 — Commercial and industrial 5 — Residential real estate 213 8,076 Home equity lines of credit 187 — Consumer, indirect 2 $ — (a) Represents the average amount of delinquency-related amounts that were capitalized as part of the loan balance. Amounts are in whole dollars. The following table displays the amortized cost of loans that received a completed modification or payment deferral on or after January 1, 2023, the date Peoples adopted ASU 2022-02, through December 31, 2023, and that defaulted in the period presented. For purposes of this disclosure, Peoples defines loans that had a payment default as loans that were 90 days or more past due following a modification through December 31, 2023. For the Twelve Months Ended December 31, 2023 (Dollars in thousands) Term Extension Total Commercial and industrial $ 148 $ 148 Consumer, indirect 11 11 Total loans that subsequently defaulted $ 159 $ 159 (1) Represents the sum of amortized cost and gross charge-off as of period end. Excludes loans that liquidated either through foreclosure, deed-in-lieu of foreclosure, or a short sale. The following table displays an aging analysis of loans that were modified on or after January 1, 2023, the date Peoples adopted ASU 2022-02, through December 31, 2023, presented by classification and class of financing receivable. As of December 31, 2023 (a) (Dollars in thousands) 30-59 Days Delinquent 60-89 Days Delinquent 90+ Days Delinquent Total Delinquent Current Total Construction $ — $ 52 $ — $ 52 $ 1,590 $ 1,642 Commercial real estate — — — — 2,344 2,344 Commercial and industrial — 750 148 898 4,193 5,091 Residential real estate — — — — 91 91 Home equity lines of credit — — — — 209 209 Total loans modified (b) $ — $ 802 $ 148 $ 950 $ 8,427 $ 9,377 (a) The table presented above excludes loans that were paid off or otherwise no longer included in the loan portfolio as of period end. (b) Represents the amortized cost basis as of period end. Troubled Debt Restructurings Disclosures Prior to the Adoption of ASU 2022-02 Prior to the adoption of ASU 2022-02, Peoples accounted for a modification to the contractual terms of a loan that resulted in granting a concession to a borrower experiencing financial difficulties as a TDR. See “Note 1 Summary of Significant Accounting Policies” in Peoples’ Annual Report on Form 10-K for the fiscal year ended December 31, 2022 for more information on our TDR policy, and “Note 1, Summary of Significant Accounting Policies” in this Form 10-K for more information on the adoption of ASU 2022-02. The following table summarizes the loans that were modified as TDRs during the year ended December 31, 2022. Recorded Investment (a) (Dollars in thousands) Number of Contracts Pre-Modification Post-Modification Remaining Recorded Investment 2022 Construction — $ — $ — $ — 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 (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 (Dollars in thousands) 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 — Consumer, indirect 1 7 — Consumer, direct 1 2 — Home equity lines of credit — — — Total 6 $ 181 $ — (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 As discussed in “Note 1 Summary of Significant Accounting Policies” of the Notes to the Consolidated Financial Statements included in this Form 10-K, 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. Following the reasonable and supportable period, Peoples reverts the macroeconomic variables to their long run average over a four-quarter reversion period. Changes in the allowance for credit losses for 2023 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, 2023 Construction $ 1,250 $ — $ (542) $ (9) $ — $ 699 Commercial real estate, other 17,710 1,340 1,514 (614) 965 20,915 Commercial and industrial 8,229 379 2,181 (851) 552 10,490 Premium finance 344 — 238 (122) 24 484 Leases 8,495 — 5,990 (3,997) 362 10,850 Residential real estate 6,357 228 (670) (170) 192 5,937 Home equity lines of credit 1,693 18 (14) (110) 1 1,588 Consumer, indirect 7,448 — 4,685 (4,030) 487 8,590 Consumer, direct 1,575 86 1,025 (416) 73 2,343 Deposit account overdrafts 61 — 938 (1,161) 277 115 Total $ 53,162 $ 2,051 $ 15,345 $ (11,480) $ 2,933 $ 62,011 (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 2022 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, 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) Amount does not include the provision for unfunded commitment liability. During 2023, the increase in the allowance balance when compared to 2022 was driven by (i) the addition of the $8.1 million provision for the non-PCD loans acquired in the Limestone Merger, (ii) loan growth and (iii) an increase in charge-offs, partially offset by a release of reserves on individually analyzed loans and the use of updated loss drivers. The Limestone Merger added $2.1 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, and the Vantage acquisition added $0.8 million in allowance for credit loss at the acquisition date for PCD loans as part of the acquisition accounting. The allowance for credit losses as a percent of total loans declined from 1.13% to 1.01% from December 31, 2022 to December 31, 2023. At December 31, 2023, Peoples had recorded an unfunded commitment liability of $1.8 million, a decrease compared to the $2.0 million that was recorded at December 31, 2022. 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 2023, Peoples recorded a recovery of credit losses on unfunded commitments of $0.2 million, compared to a recovery for credit losses on unfunded commitments of $0.6 million for 2022. 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, 2023
Property, Plant and Equipment [Abstract]
Bank Premises and Equipment	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) 2023 2022 Land $ 23,680 $ 18,746 Building and premises 120,587 101,478 Furniture, fixtures and equipment 42,360 37,913 Total bank premises and equipment 186,627 158,137 Accumulated depreciation (82,771) (75,203) Net book value $ 103,856 $ 82,934 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, 2023
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 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 are primarily classified as sales-type leases, and to a lesser extent, operating leases. These leases do not typically contain residual value guarantees; however, Peoples reduces its residual asset risk by obtaining a security deposit from the lessee. As a lessor, Peoples originates commercial equipment leases either directly to the customer or indirectly through vendor programs. Equipment leases relate to automotive, construction, health care, manufacturing, office, restaurant, information technology and other equipment. These leases include an estimated residual value, which is assessed for impairment as part of the allowance for credit losses. Operating leases are leases that do not meet the criteria of a sales-type lease or a finance lease. When Peoples originates an operating lease, it records an operating lease asset recognized in “Other assets” which is depreciated over its useful life. Lease income noted in the table below includes (i) gains on the early termination of leases, net of any associated purchase accounting adjustments, (ii) month-to-month lease payments in excess of net investment in the lease, (iii) fees received for referrals, (iv) gains and losses recognized on the sales of residual assets, and (v) syndication income. Income on operating leases is recognized on a straight-line basis in “Other non-interest income” and depreciation expense is recognized on a straight-line basis in “Other non-interest expense.” 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, 2023 and 2022: (Dollars in thousands) 2023 2022 Interest and fees on leases (a) $ 42,931 $ 34,720 Lease income 5,552 4,267 Other non-interest income 2,308 — Total lease income $ 50,791 $ 38,987 (a) Included in “Interest and fees on loans” on the Consolidated Statements of Income. For additional information, see “Note 4 Loans and 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) 2023 2022 Lease payments receivable, at amortized cost $ 463,742 $ 367,681 Estimated residual values 33,448 35,045 Initial direct costs 7,114 4,233 Deferred revenue (90,244) (61,828) Total leases, at amortized cost 414,060 345,131 Allowance for credit losses - leases (10,850) (8,495) Net investment in sales-type leases $ 403,210 $ 336,636 The following table summarizes the contractual maturities of leases: (Dollars in thousands) Balance 2024 $ 110,893 2025 108,346 2026 94,672 2027 74,997 2028 56,111 Thereafter 18,723 Lease payments receivable, at amortized cost $ 463,742 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) 2023 2022 Operating lease expense $ 3,030 $ 2,568 Short-term lease expense 268 745 Total lease expense $ 3,298 $ 3,313 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) 2023 2022 ROU asset: Other assets $ 11,689 $ 6,825 Lease liability: Accrued expenses and other liabilities $ 12,080 $ 7,551 Other information: Weighted-average remaining lease term 9.5 years 8.8 years Weighted-average discount rate 3.34 % 2.70 % Cash paid during the year for operating leases $ 2,990 $ 2,560 Additions for ROU assets obtained during the year $ 4,428 $ 880 The following table summarizes the future lease payments of operating leases: (Dollars in thousands) Payments 2024 $ 2,588 2025 2,020 2026 1,750 2027 1,599 2028 1,218 Thereafter 5,413 Total undiscounted lease payments $ 14,588 Imputed interest (2,508) Total lease liability $ 12,080
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 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 are primarily classified as sales-type leases, and to a lesser extent, operating leases. These leases do not typically contain residual value guarantees; however, Peoples reduces its residual asset risk by obtaining a security deposit from the lessee. As a lessor, Peoples originates commercial equipment leases either directly to the customer or indirectly through vendor programs. Equipment leases relate to automotive, construction, health care, manufacturing, office, restaurant, information technology and other equipment. These leases include an estimated residual value, which is assessed for impairment as part of the allowance for credit losses. Operating leases are leases that do not meet the criteria of a sales-type lease or a finance lease. When Peoples originates an operating lease, it records an operating lease asset recognized in “Other assets” which is depreciated over its useful life. Lease income noted in the table below includes (i) gains on the early termination of leases, net of any associated purchase accounting adjustments, (ii) month-to-month lease payments in excess of net investment in the lease, (iii) fees received for referrals, (iv) gains and losses recognized on the sales of residual assets, and (v) syndication income. Income on operating leases is recognized on a straight-line basis in “Other non-interest income” and depreciation expense is recognized on a straight-line basis in “Other non-interest expense.” 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, 2023 and 2022: (Dollars in thousands) 2023 2022 Interest and fees on leases (a) $ 42,931 $ 34,720 Lease income 5,552 4,267 Other non-interest income 2,308 — Total lease income $ 50,791 $ 38,987 (a) Included in “Interest and fees on loans” on the Consolidated Statements of Income. For additional information, see “Note 4 Loans and 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) 2023 2022 Lease payments receivable, at amortized cost $ 463,742 $ 367,681 Estimated residual values 33,448 35,045 Initial direct costs 7,114 4,233 Deferred revenue (90,244) (61,828) Total leases, at amortized cost 414,060 345,131 Allowance for credit losses - leases (10,850) (8,495) Net investment in sales-type leases $ 403,210 $ 336,636 The following table summarizes the contractual maturities of leases: (Dollars in thousands) Balance 2024 $ 110,893 2025 108,346 2026 94,672 2027 74,997 2028 56,111 Thereafter 18,723 Lease payments receivable, at amortized cost $ 463,742 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) 2023 2022 Operating lease expense $ 3,030 $ 2,568 Short-term lease expense 268 745 Total lease expense $ 3,298 $ 3,313 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) 2023 2022 ROU asset: Other assets $ 11,689 $ 6,825 Lease liability: Accrued expenses and other liabilities $ 12,080 $ 7,551 Other information: Weighted-average remaining lease term 9.5 years 8.8 years Weighted-average discount rate 3.34 % 2.70 % Cash paid during the year for operating leases $ 2,990 $ 2,560 Additions for ROU assets obtained during the year $ 4,428 $ 880 The following table summarizes the future lease payments of operating leases: (Dollars in thousands) Payments 2024 $ 2,588 2025 2,020 2026 1,750 2027 1,599 2028 1,218 Thereafter 5,413 Total undiscounted lease payments $ 14,588 Imputed interest (2,508) Total lease liability $ 12,080

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2023
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) 2023 2022 Goodwill, beginning of year $ 292,397 $ 264,193 Goodwill recorded from acquisitions 69,772 28,204 Goodwill, end of year $ 362,169 $ 292,397 Peoples performed a qualitative assessment of goodwill as of October 1, 2023, and management does not believe it is more likely than not that the fair value of Peoples’ reporting unit is less than its carrying amount. As of the close of business on April 30, 2023, Peoples completed its merger with Limestone Bancorp, Inc. (“Limestone”) pursuant to an Agreement and Plan of Merger dated October 24, 2022, at which point Limestone merged with and into Peoples, and immediately thereafter, Limestone Bank, Inc., the subsidiary bank of Limestone, merged with and into Peoples Bank (collectively, the “Limestone Merger”). Peoples has recorded preliminary goodwill from the Limestone Merger totaling $68.8 million as of December 31, 2023 . On January 3, 2023, Peoples acquired a trust and investment business, for which Peoples has recorded $0.6 million in goodwill as of December 31, 2023 . On October 10, 2023, Peoples purchased the assets of an insurance business, for which $0.4 million in goodwill has been recorded as of December 31, 2023 . On March 11, 2022, Peoples Insurance entered into an Asset Purchase Agreement with Elite Agency, Inc. (“Elite”), and consummated the acquisition on April 1, 2022. In 2022, Peoples recorded $2.3 million of goodwill related to this acquisition. On March 7, 2022, Peoples Bank entered into an Asset Purchase Agreement with Vantage, at which point Vantage became a legal subsidiary of Peoples Bank. In 2022, 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. 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 2023 Gross intangibles $ 26,464 $ 37,920 $ 2,491 $ 66,875 Intangibles recorded from acquisitions 27,722 — — 27,722 Accumulated amortization (25,670) (20,680) — (46,350) Total acquisition-related intangibles $ 28,516 $ 17,240 $ 2,491 $ 48,247 Servicing rights 1,385 Non-compete agreements (a) 371 Total other intangibles $ 50,003 2022 Gross intangibles $ 26,464 $ 25,173 $ 1,274 $ 52,911 Intangibles recorded from acquisitions (b) — 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 (a) Non-compete agreements were recognized due to acquisitions. (b) Peoples included in customer relationship intangibles intangible assets related to a non-compete agreements in the amount of $1.3 million at December 31, 2022. Peoples performed other intangible assets impairment testing as of October 1, 2023 and concluded there was no impairment in the recorded value of other intangible assets as of October 1, 2023. 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 2023 consisted of $27.7 million of core deposit intangibles related to the Limestone Merger. 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. The following table details estimated aggregate future amortization of other intangible assets at December 31, 2023: (Dollars in thousands) Core Deposits Customer Relationships (a) Total 2024 $ 5,875 $ 5,310 $ 11,185 2025 4,609 4,221 8,830 2026 3,736 3,081 6,817 2027 3,043 2,256 5,299 2028 2,608 1,549 4,157 Thereafter 8,645 1,194 9,839 Total $ 28,516 $ 17,611 $ 46,127 (a) Peoples includes in customer relationship intangibles intangible assets related to a non-compete agreements. The weighted average amortization period of other intangibles is 9.2 years. The following is an analysis of activity of servicing rights for the years ended December 31: (Dollars in thousands) 2023 2022 2021 Balance, beginning of year $ 1,816 $ 2,218 $ 2,486 Amortization (457) (594) (936) Servicing rights originated 27 180 519 Change in valuation allowance (1) 12 149 Balance, end of year $ 1,385 $ 1,816 $ 2,218 The following is the breakdown of the discount rates and prepayment speeds of servicing rights for the years ended December 31: 2023 2022 Minimum Maximum Minimum Maximum Discount rates 13.5 % 16.0 % 12.5 % 15.0 % Prepayment speeds 7.7 % 16.1 % 6.5 % 23.8 % The fair value of servicing rights was $3.2 million at December 31, 2023 and $3.4 million at December 31, 2022.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2023
Banking and Thrift, Other Disclosure [Abstract]
Deposits	Deposits Peoples’ deposit balances were comprised of the following at December 31: (Dollars in thousands) 2023 2022 Retail CDs: $100 or more $ 815,300 $ 263,341 Less than $100 628,117 266,895 Total retail CDs 1,443,417 530,236 Interest-bearing deposit accounts 1,144,357 1,160,182 Savings accounts 919,244 1,068,547 Money market deposit accounts 775,488 617,029 Governmental deposit accounts 726,713 625,965 Brokered deposit accounts 575,429 125,580 Total interest-bearing deposits 5,584,648 4,127,539 Non-interest-bearing deposits 1,567,649 1,589,402 Total deposits $ 7,152,297 $ 5,716,941 Uninsured deposits were $2.0 billion and $1.6 billion at December 31, 2023 and 2022, respectively. Uninsured amounts are estimated based on the portion of the respective customer account balances that exceeded the FDIC limit of $250,000. Peoples pledges investment securities against certain governmental deposit accounts, which covered over $788.7 million of the uninsured deposit balances at December 31, 2023. Uninsured time deposits are broken out below by time remaining until maturity. (Dollars in thousands) 2023 2022 3 months or less $ 58,708 $ 19,282 Over 3 to 6 months 99,928 14,871 Over 6 to 12 months 131,263 14,383 Over 12 months 37,180 52,216 Total $ 327,079 $ 100,752 The contractual maturities of CDs for each of the next five years and thereafter are as follows: (Dollars in thousands) Retail Brokered Total 2024 $ 1,278,306 $ 575,429 $ 1,853,735 2025 113,820 — 113,820 2026 18,033 — 18,033 2027 25,033 — 25,033 2028 8,176 — 8,176 Thereafter 49 — 49 Total CDs $ 1,443,417 $ 575,429 $ 2,018,846 Deposits from related parties were $14.2 million and $8.5 million at December 31, 2023 and 2022, respectively. At December 31, 2023, Peoples had eleven effective interest rate swaps, with an aggregate notional value of $105.0 million, of which $105.0 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, 2023
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 2023 Ending balance $ 99,121 $ 369,000 $ 133,000 $ 601,121 Average balance 102,530 353,532 7,495 463,557 Highest month-end balance 125,937 484,000 133,000 585,439 Interest expense $ 1,349 $ 18,058 $ 315 $ 19,722 Weighted-average interest rate: End of year 1.54 % 5.41 % 4.85 % 4.65 % During the year 1.32 % 5.11 % 4.93 % 4.25 % 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 % 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’ FHLB advances of $60.0 million and $55.0 million matured in 2023 and 2022, respectively. Other short-term borrowings consisted primarily of federal funds purchased and advances from the Federal Reserve Discount Window, as well as a Bank Term Funding Program (“BTFP”) loan. Federal funds purchased are short-term borrowings from correspondent banks that typically mature within one As of April 3, 2019, Peoples entered into a loan agreement (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, 2023 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, 2023, Peoples was in compliance with the applicable covenants imposed by the U.S. Bank Loan Agreement, as amended by the Fifth Amendment to the U.S. Bank Loan Agreement. The U.S. Bank Loan Agreement matures on March 31, 2024. 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, 2023
Debt Disclosure [Abstract]
Long-Term Borrowings	Long-Term Borrowings Long-term borrowings consisted of the following at December 31: 2023 2022 (Dollars in thousands) Balance Weighted- Average Rate Balance Weighted- Average Rate FHLB putable, non-amortizing, fixed rate advances $ 110,000 3.98 % $ 30,000 2.51 % FHLB amortizing, fixed rate advances 2,865 1.81 % 4,158 1.79 % Vantage non-recourse borrowings 49,572 6.26 % 53,147 4.75 % Other long-term borrowings 53,804 9.67 % 13,788 8.66 % Long-term borrowings (a) $ 216,241 $ 101,093 (a) The weighted-average interest rate on total long-term borrowings at December 31, 2023 and December 31, 2022 was 5.89% and 4.50%, respectively. Peoples continually evaluates its overall balance sheet position given the interest rate environment. During 2023, Peoples borrowed four additional FHLB long-term borrowings, three non-callable advances for $60.0 million, $10.0 million, $10.0 million with fixed interest rates of 4.40%, 4.30%, and 4.11%, respectively, and one callable $10.0 million advance with a fixed interest rate of 4.59%. During 2022, Peoples did not borrow any additional long-term advances from the FHLB. At December 31, 2023, outstanding long-term FHLB non-amortizing advances, which have interest rates ranging from 2.17% to 4.59%, mature between 2026 and 2028. 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 2.69% to 11.25% with various maturities, the latest being in 2030 . 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. Other long-term borrowings include trust preferred securities held for investments and floating rate junior subordinated deferrable interest debentures assumed from three prior acquisitions. On March 6, 2015, Peoples completed its acquisition of NB&T Financial Group, Inc., which included a trust preferred security du e in 2037 with a $9.0 million par value and a $6.6 million fair value at acquisition. As of December 31, 2023, this trust preferred security had a carrying value of $8.0 million with an interest rate of 10.06% , 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, 2023, this trust preferred security had a carrying valu e of $5.9 million a nd an interest rate of 9.07% , inclusive of the impact of fair value adjustments. On April 30, 2023, Peoples completed the Limestone Merger, which included four trust preferred securities and junior subordinated debentures. The details of the securities at the time of the Limestone Merger, their current carry values, and current interest rates are included in the table below, inclusive of the impact of fair value adjustments. These trust preferred securities and junior subordinated debentures are considered tier 1 capital (with certain limitations applicable) under current regulatory guidelines. (Dollars in thousands) April 30, 2023 December 31, 2023 Description Maturity Year Par Value Fair Value Carrying Value Interest Rate Ascencia Statutory Trust I 2034 3,000 2,430 2,487 12.99 % Porter Statutory Trust II 2034 5,000 4,050 4,145 13.00 % Porter Statutory Trust III 2034 3,000 2,410 2,468 13.04 % Porter Statutory Trust IV 2037 10,000 6,886 7,124 14.19 % Floating rate junior subordinated deferrable interest debentures 2029 25,000 23,677 23,913 7.08 % Total 46,000 39,453 40,137 At December 31, 2023, the aggregate minimum annual retirements of long-term borrowings in future periods were as follows: (Dollars in thousands) Balance 2024 $ 12,332 2025 7,377 2026 38,015 2027 7,569 2028 86,589 Thereafter 64,359 Total long-term borrowings $ 216,241

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2023
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, 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 Changes related to stock-based compensation awards: Grant of restricted common shares — (259,648) Release of restricted common shares — 43,087 Cancellation of restricted common shares — 16,778 Grant of unrestricted common shares (1,900) Changes related to deferred compensation plan for Boards of Directors: Purchase of treasury stock — 21,042 Disbursed out of treasury stock — (4,368) Common shares repurchased under repurchase program — 107,219 Common shares issued under dividend reinvestment plan 50,453 — Common shares issued under compensation plan for Boards of Directors — (19,931) Common shares issued under employee stock purchase plan — (34,392) Issuance of common shares related to the Limestone Merger 6,827,668 — Shares at December 31, 2023 36,736,041 1,511,348 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. Peoples purchased an aggregate of 107,219 and 263,183 of Peoples’ outstanding common shares totaling $3.0 million and $7.4 million during 2023 and 2022, respectively. Peoples did not repurchase any common shares during 2021 under the share repurchase program authorized 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, 2023 and 2022, 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: 2023 2022 First Quarter $ 0.38 $ 0.36 Second Quarter 0.39 0.38 Third Quarter 0.39 0.38 Fourth Quarter 0.39 0.38 Total dividends declared $ 1.55 $ 1.50 Accumulated Other Comprehensive Income (Loss) The following details the change in the components of Peoples’ accumulated other comprehensive income (loss) 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 Income (Loss) 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) Reclassification adjustments to net income: Realized loss on sale of securities, net of tax 2,836 — — 2,836 Realized loss due to settlement and curtailment, net of tax — 1,858 — 1,858 Other comprehensive income (loss), net of reclassifications and tax 22,838 (225) (1,761) 20,852 Balance, December 31, 2023 $ (104,222) $ — $ 2,632 $ (101,590)

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Peoples sponsored a noncontributory defined benefit pension plan that covered 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 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. As of January 1, 2021, Peoples matches 100% of participants’ contributions up to 6% of the participants’ compensation. Matching contributions made by Peoples totaled $5.4 million in 2023, $4.4 million in 2022 and $3.5 million in 2021.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
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: 2023 2022 2021 (Dollars in thousands) Amount Rate Amount Rate Amount Rate Income tax computed at statutory federal corporate income tax rate $ 30,476 21.0 % $ 27,015 21.0 % $ 11,954 21.0 % Differences in rate resulting from: State taxes, net of federal benefit 3,053 2.1 % 2,277 1.8 % 119 0.2 % Investment securities impairment — — % 431 0.3 % — — % Nondeductible acquisition costs 168 0.1 % 42 — % 269 0.5 % Common share awards (99) (0.1) % 12 — % 74 0.1 % Bank owned life insurance (872) (0.6) % (551) (0.4) % (371) (0.6) % Investments in tax credit funds (352) (0.2) % (629) (0.5) % (381) (0.7) % Captive insurance benefit (330) (0.2) % (421) (0.3) % (435) (0.8) % Tax-exempt interest income (555) (0.4) % (921) (0.7) % (835) (1.5) % Fixed asset depreciation — — % — — % (1,142) (2.0) % Other, net 274 0.2 % 94 0.1 % 163 0.3 % Income tax expense $ 31,763 21.9 % $ 27,349 21.3 % $ 9,415 16.5 % Peoples’ reported income tax expense consisted of the following for the years ended December 31: (Dollars in thousands) 2023 2022 2021 Current income tax expense $ 32,001 $ 8,783 $ 6,541 Deferred income tax (benefit) expense (238) 18,566 2,874 Income tax expense $ 31,763 $ 27,349 $ 9,415 The significant components of Peoples’ deferred tax assets and deferred tax liabilities consisted of the following at December 31: (Dollars in thousands) 2023 2022 Deferred tax assets: Available-for-sale securities $ 31,774 $ 39,425 Allowance for credit losses 14,902 12,827 Nonaccrual loan interest income 2,753 4,366 Accrued employee benefits 7,344 3,391 Lease obligation 2,822 1,757 Net operating loss carryforward 11,367 158 Purchase accounting adjustments 1,920 — Other 1,622 899 Gross deferred tax assets $ 74,504 $ 62,823 Valuation allowance $ 158 $ 158 Total deferred tax assets $ 74,346 $ 62,665 Deferred tax liabilities: Equipment leases $ 11,286 $ 16,316 Deferred loan income 3,117 5,512 Purchase accounting adjustments — 4,431 Bank premises and equipment 5,116 3,206 Lease right-of-use assets 2,731 1,588 Derivative instruments 774 1,302 Other 3,951 2,259 Total deferred tax liabilities $ 26,975 $ 34,614 Net deferred tax asset $ 47,371 $ 28,051 At December 31, 2023, Peoples had approximately $52 million of federal net operating loss carryforwards and $208,000 of federal tax credit carryforwards, the annual utilization of which are subject to limitation under IRC sections 382 and 383, respectively. Peoples has recorded a deferred tax asset only for the portion of these net operating loss and tax credit carryforwards it is able to, and expects to, utilize under these limitations. At December 31, 2023, Peoples had approximately $9.5 million of state net operating loss carryforwards, the annual utilization of which are subject to limitation under applicable state tax law. Peoples expects to fully utilize $7.3 million of these state net operating loss carryforwards. However, $2.2 million of state net operating loss carryforwards 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 $777,000 in 2023, $13,000 in 2022, and $181,000 in 2021. 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) 2023 2022 Uncertain tax positions, beginning of year $ 89 $ 106 Gross increase based on tax positions related to current year 527 39 Gross decrease due to the statute of limitations (89) (56) Uncertain tax positions, end of year $ 527 $ 89 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, 2020 through 2022. 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, 2023
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) 2023 2022 2021 Net income available to common shareholders $ 113,363 $ 101,292 $ 47,555 Less: Dividends paid on unvested common shares 531 354 295 Less: Undistributed loss allocated to unvested common shares 269 96 26 Net earnings allocated to common shareholders $ 112,563 $ 100,842 $ 47,234 Weighted-average common shares outstanding 32,533,086 27,908,022 21,816,511 Effect of potentially dilutive common shares 227,722 91,580 143,372 Total weighted-average diluted common shares outstanding 32,760,808 27,999,602 21,959,883 Earnings per common share: Basic $ 3.46 $ 3.61 $ 2.17 Diluted $ 3.44 $ 3.60 $ 2.15 Anti-dilutive common shares excluded from calculation: Restricted common shares 9,123 — 275

Derivative Financial Instrument

Derivative Financial Instruments	12 Months Ended
	Dec. 31, 2023
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, 2023, Peoples had entered into eleven interest rate swaps with an aggregate notional value of $105.0 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 SOFR 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, 2023, the interest rate swaps were designated as cash flow hedges of $105.0 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 AOCL (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 SOFR floating portion of the swaps to ensure effectiveness of the cash flow hedge. During the years ended December 31, 2023 and December 31, 2022, Peoples had reclassifications of changes in fair value to interest expense of $0.3 million and $0.8 million, respectively. The following table summarizes information about the interest rate swaps designated as cash flow hedges at December 31: (Dollars in thousands) 2023 2022 Notional amount $ 105,000 $ 125,000 Weighted average pay rates 2.22 % 2.26 % Weighted average receive rates 4.63 % 4.44 % Weighted average maturity 2.0 years 2.6 years Pre-tax changes in fair value included in AOCL 3,434 5,727 The following table presents changes in fair value recorded in AOCL and in the Consolidated Statements of Income related to the cash flow hedges for the years ended December 31: (Dollars in thousands) 2023 2022 Amount of income recognized in AOCL, pre-tax $ (2,293) $ 10,606 The following table reflects the cash flow hedges, which were included in the Consolidated Balance Sheets at fair value, at December 31: 2023 2022 (Dollars in thousands) Notional Amount Fair Value Notional Amount Fair Value Included in “Other assets”: Interest rate swaps related to debt $ 105,000 $ 3,314 $ 125,000 $ 5,594 Total included in “Other assets” $ 105,000 $ 3,314 $ 125,000 $ 5,594 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, 2023 and 2022. The following table reflects the non-designated hedges, which were included in the Consolidated Balance Sheets at fair value, at December 31: 2023 2022 (Dollars in thousands) Notional Amount Fair Value Notional Amount Fair Value Included in “Other assets”: Interest rate swaps related to commercial loans $ 416,106 $ 18,990 $ 390,126 $ 28,529 Total included in “Other assets” 416,106 18,990 390,126 28,529 Included in “Accrued expenses and other liabilities”: Interest rate swaps related to commercial loans $ 416,106 19,122 $ 390,126 $ 28,529 Total included in “Accrued expenses and other liabilities” 416,106 19,122 390,126 28,529 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, 2023 and December 31, 2022, Peoples had no cash pledged while the counterparties had pledged $12.8 million at December 31, 2023 and $20.9 million at December 31, 2022. At December 31, 2023 and December 31, 2022, Peoples had no investment securities pledged, while counterparties had $2.2 million of investment securities pledged at December 31, 2023 and $2.5 million pledged at December 31, 2022.

Off-Balance Sheet Risk

Off-Balance Sheet Risk	12 Months Ended
	Dec. 31, 2023
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) 2023 2022 Home equity lines of credit $ 244,367 $ 197,995 Unadvanced construction loans 349,850 270,229 Other loan commitments 769,759 730,015 Loan commitments 1,363,976 1,198,239 Standby letters of credit $ 14,318 $ 15,451

Regulatory Matters

Regulatory Matters	12 Months Ended
	Dec. 31, 2023
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, based on the amount of total deposits. Average required reserve balances were $0 and $0 in 2023 and 2022, 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, 2023, Peoples Bank had approximately $153.2 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, 2023, 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, 2023. At December 31, 2023, 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: 2023 2022 (Dollars in thousands) Amount Ratio Amount Ratio PEOPLES Common Equity Tier 1 (a) Actual $ 766,692 11.56 % $ 604,566 11.92 % For capital adequacy 298,393 4.50 % 228,206 4.50 % To be well capitalized 431,011 6.50 % 329,631 6.50 % Tier 1 (b) Actual $ 820,496 12.37 % $ 618,354 12.19 % For capital adequacy 397,857 6.00 % 304,274 6.00 % To be well capitalized 530,476 8.00 % 405,699 8.00 % Total Capital (c) Actual $ 873,226 13.17 % $ 662,421 13.06 % For capital adequacy 530,476 8.00 % 405,699 8.00 % To be well capitalized 663,095 10.00 % 507,124 10.00 % Tier 1 Leverage (d) Actual $ 820,496 9.48 % $ 618,354 8.92 % For capital adequacy 346,112 4.00 % 277,302 4.00 % To be well capitalized 432,640 5.00 % 346,628 5.00 % Capital Conservation Buffer $ 342,750 5.17 % $ 256,722 5.06 % Fully phased in 165,774 2.50 % 126,781 2.50 % Net Risk-Weighted Assets $ 6,630,945 $ 5,071,240 PEOPLES BANK Common Equity Tier 1 (a) Actual $ 783,790 11.85 % $ 593,609 11.72 % For capital adequacy 297,638 4.50 % 227,843 4.50 % To be well capitalized 429,921 6.50 % 329,107 6.50 % Tier 1 (b) Actual $ 783,790 11.85 % $ 593,609 11.72 % For capital adequacy 396,850 6.00 % 303,791 6.00 % To be well capitalized 529,134 8.00 % 405,055 8.00 % Total Capital (c) Actual $ 836,520 12.65 % $ 637,676 12.59 % For capital adequacy 529,134 8.00 % 405,055 8.00 % To be well capitalized 661,417 10.00 % 506,318 10.00 % Tier 1 Leverage (d) Actual $ 783,790 9.12 % $ 593,609 8.58 % For capital adequacy 343,613 4.00 % 276,712 4.00 % To be well capitalized 429,517 5.00 % 345,890 5.00 % Capital Conservation Buffer $ 307,386 4.65 % $ 232,621 4.59 % Fully phased in 165,354 2.50 % 126,580 2.50 % Net Risk-Weighted Assets $ 6,614,172 $ 5,063,183 (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, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Under the Peoples Bancorp Inc. Fourth 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 1,493,297. The maximum number of common shares that can be issued for incentive stock options is 750,000 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. 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, 2023: Time-Based Vesting Performance-Based Vesting Number of Common Shares Weighted-Average Grant Date Fair Value Number of Common Shares Weighted-Average Grant Date Fair Value Outstanding at January 1 138,522 $ 27.25 295,565 $ 32.20 Awarded 71,276 26.40 188,372 30.30 Released (60,420) 22.26 (70,458) 32.91 Forfeited (6,959) 30.52 (9,509) 31.11 Outstanding at December 31 142,419 $ 28.78 403,970 $ 31.21 The total intrinsic value of restricted common shares released was $3.7 million, $3.7 million and $2.6 million in 2023, 2022 and 2021, 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, 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. 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) 2023 2022 2021 Employee stock-based compensation expense: Restricted common share grant expense $ 5,337 $ 3,707 $ 3,436 Employee stock purchase plan expense 140 112 79 Total employee stock-based compensation expense 5,477 3,819 3,515 Non-employee director stock-based compensation expense 548 506 375 Total stock-based compensation expense 6,025 4,325 3,890 Recognized tax benefit (1,402) (1,007) (867) Net expense recognized $ 4,623 $ 3,318 $ 3,023 Restricted common shares were the primary form of stock-based compensation awards granted by Peoples in 2023, 2022 and 2021. 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 $5.3 million at December 31, 2023, which will be recognized over a weighted-average period of 2.0 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, 2023
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) 2023 2022 Insurance income: Commission and fees from sale of insurance policies (a) $ 16,081 $ 13,960 Fees related to third-party administration services (a) 301 343 Performance-based commissions (b) 1,634 1,424 Trust and investment income: Fiduciary income (a) 10,295 10,048 Brokerage income (a) 6,865 6,343 Electronic banking income: Interchange income (a) 19,380 16,674 Promotional and usage income (a) 5,830 4,420 Deposit account service charges: Ongoing maintenance fees for deposit accounts (a) 6,425 5,323 Transactional-based fees (b) 10,257 9,260 Commercial loan swap fees (b) 782 662 Other non-interest income transactional-based fees (b) 1,650 1,499 Total $ 79,500 $ 69,956 Timing of revenue recognition: Services transferred over time $ 65,177 $ 57,111 Services transferred at a point in time 14,323 12,845 Total $ 79,500 $ 69,956 (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, 2023: (Dollars in thousands) Contract Assets Contract Liabilities Balance, January 1, 2023 $ 1,294 $ 5,634 Additional income receivable 209 — Additional deferred income — 411 Receipt of income previously receivable (750) — Recognition of income previously deferred — (269) Balance, December 31, 2023 $ 753 $ 5,776 For more information on Peoples’ revenue recognition policies, see “Note 1 Summary of Significant Accounting Policies.”

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Limestone Bancorp, Inc. As of the close of business on April 30, 2023, Peoples completed the Limestone Merger. In connection with the Limestone Merger, Limestone Bank, Inc., which operated 20 branches in Kentucky, merged into Peoples Bank. As consideration in the Limestone Merger, Limestone shareholders were paid 0.90 common shares of Peoples for each full share of Limestone that was owned at the merger date, resulting in the issuance of 6,827,668 common shares by Peoples, or aggregate consideration of $177.9 million. Peoples accounted for this transaction as a business combination under the acquisition method. Peoples recorded acquisition-related expenses related to the Limestone Merger, which included $16.9 million in non-interest expense for the year ended December 31, 2023. During 2023, acquisition-related non-interest expenses consisted of $6.0 million in professional fees, $5.9 million in salaries and employee benefit costs, $2.9 million in other non-interest expense, $1.8 million in data processing and software expense, and $0.3 million in various other non-interest expense line items. The other non-interest expenses were primarily due to $1.8 million of early contract termination fees on Limestone contracts driven by the system conversions, which took place in the third quarter of 2023. The following table provides the purchase price calculation as of the date of the Limestone Merger, and the assets acquired and liabilities assumed at their estimated fair values. The estimated fair values below are subject to adjustment for up to one year after April 30, 2023, which include, but are not limited to, loans, including the designation of PCD loans, deferred tax assets and liabilities, and certain other assets and other liabilities. (Dollars in thousands) Fair Value Total purchase price $ 177,931 Assets Cash and balances due from banks 6,422 Interest-bearing deposits in other banks 87,115 Total cash and cash equivalents 93,537 Available-for-sale investment securities, at fair value 166,944 Other investment securities 5,716 Total investment securities 172,660 Loans and leases 1,077,929 Allowance for credit losses (on PCD loans) (2,051) Net loans 1,075,878 Bank premises and equipment, net of accumulated depreciation 17,690 Bank owned life insurance 31,343 Other intangible assets 27,722 Other assets 36,874 Total assets 1,455,704 Liabilities Deposits: Non-interest-bearing 262,727 Interest-bearing 971,457 Total deposits 1,234,184 Short-term borrowings 60,000 Long-term borrowings 39,453 Accrued expenses and other liabilities 12,967 Total liabilities 1,346,604 Net assets 109,100 Goodwill $ 68,831 The goodwill recorded in connection with the Limestone Merger is related to expected synergies to be gained from the combination of Limestone with Peoples’ operations. The employees retained from the Limestone Merger and the geographic locations of Limestone should allow Peoples to continue to grow its loan and deposit portfolios while also increasing Peoples’ ability to penetrate the new markets, which 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 a core deposit intangible asset in other intangible assets related to the Limestone Merger. The estimated fair values presented in the above table reflect additional information that was obtained during the three months ended December 31, 2023, which resulted in changes to certain fair value estimates made as of the date of the Limestone Merger. Adjustments to acquisition date estimated fair values are recorded during the period in which they occur and, as a result, previously recorded results have changed. The below table reflects the changes in the estimated fair value as they impact goodwill at December 31, 2023: (Dollars in thousands) Fair Value Loans (2,051) Allowance for credit losses (on PCD loans) (890) Net loans (2,941) Other assets 1,949 Total assets (992) Liabilities Long-term borrowings 5,709 Total liabilities 5,709 Net assets (6,701) Goodwill $ 6,701 Loans acquired by Peoples in a business combination that have evidence of more than insignificant credit deterioration, which includes loans as to which Peoples believes it is probable that Peoples will be unable to collect all contractually required payments, are considered “purchased credit deteriorated” (or “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 Commercial real estate, other $ 30,907 $ (1,340) $ (2,160) $ 27,407 Commercial and industrial 16,466 (379) (610) 15,477 Residential real estate 6,328 (228) (770) 5,330 Home equity lines of credit 774 (18) 11 767 Consumer 1,029 (86) 78 1,021 Fair value $ 55,504 $ (2,051) $ (3,451) $ 50,002 Peoples’ operating results for the twelve months ended December 31, 2023 include the operating results of the acquired assets and assumed liabilities of Limestone subsequent to the Limestone Merger. Due to the timing of the acquisition closing and the conversion of Limestone systems, as well as other streamlining and integration of the operating activities into those of Peoples, historical reporting for the former Limestone operations is impracticable and the separate disclosures of revenue from the assets acquired and income before income taxes is impracticable for the periods subsequent to the acquisition. The following table presents unaudited pro forma information as if the Limestone Merger had occurred on January 1, 2022. The pro forma adjustments include any changes in interest income due to the accretion of discounts, or amortization of premiums, associated with the fair value adjustments to acquired loans, interest-bearing deposits, long-term borrowings and customer deposit intangibles that would have resulted had the assets and liabilities been acquired as of January 1, 2022. The pro forma information excludes Peoples’ acquisition-related expenses as described above as well as a provision of credit losses of $8.1 million recorded to establish an allowance for credit losses for non-PCD loans relating to the acquired loans. The pro forma information reflects the adoption of the current expected credit loss (“CECL”) accounting standard by Limestone as of January 1, 2023. The pro forma information does not necessarily reflect the results of operations that would have occurred had Peoples acquired Limestone on January 1, 2022. Additionally, cost savings and other business synergies related to the acquisition are not reflected in the pro forma amounts. Unaudited Pro Forma For Twelve months ended (Dollars in thousands) December 31, 2023 December 31, 2022 Net interest income $ 351,164 $ 317,226 Non-interest income 87,890 87,713 Net income 130,153 127,023 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 during 2023 of $46,000 related to the Vantage acquisition, which consisted of professional fees. Peoples recorded acquisition-related expenses during 2022 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 (Dollars in thousands) Fair Value 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

Parent Company Only Financial I

Parent Company Only Financial Information	12 Months Ended
	Dec. 31, 2023
Parent Company Only Financial Information [Abstract]
Parent Company Only Financial Information	Parent Company Only Financial Information Condensed Balance Sheets December 31, (Dollars in thousands) 2023 2022 Assets: Cash and due from other banks $ 50 $ 50 Interest-bearing deposits in subsidiary bank 17,099 14,961 Due from subsidiary bank 771 1,353 Other investment securities 237 234 Investments in subsidiaries: Bank 1,072,238 774,294 Non-bank 17,606 11,944 Other assets 12,084 2,877 Total assets $ 1,120,085 $ 805,713 Liabilities: Accrued expenses and other liabilities $ 3,342 $ 3,336 Dividends payable 938 781 Mandatorily redeemable capital securities of subsidiary trusts and junior subordinated debentures 62,271 16,268 Total liabilities 66,551 20,385 Total stockholders’ equity 1,053,534 785,328 Total liabilities and stockholders’ equity $ 1,120,085 $ 805,713 Condensed Statements of Income Year Ended December 31, (Dollars in thousands) 2023 2022 2021 Income: Dividends from subsidiary bank $ 48,000 $ 52,000 $ 29,000 Dividends from non-bank subsidiary 200 1,860 1,750 Interest and other income 11 39 73 Total income 48,211 53,899 30,823 Expense: Trust preferred securities expense 1,147 744 367 Intercompany management fees 1,873 1,379 1,303 Other expense 11,011 6,539 5,675 Total expense 14,031 8,662 7,345 Income before federal income taxes and equity in undistributed earnings of subsidiaries 34,180 45,237 23,478 Applicable income tax expense (3,296) (1,979) (1,295) Equity in undistributed earnings of subsidiaries 75,887 54,076 22,782 Net income $ 113,363 $ 101,292 $ 47,555 Statements of Cash Flows Year Ended December 31, (Dollars in thousands) 2023 2022 2021 Operating activities Net income $ 113,363 $ 101,292 $ 47,555 Adjustments to reconcile net income to cash provided by operations: Depreciation, amortization and accretion, net — 138 6,224 Equity in undistributed earnings of subsidiaries (75,887) (54,076) (22,782) Gain on investment securities — — — Other, net (6,757) 5,008 3,930 Net cash provided by operating activities 30,719 52,362 34,927 Investing activities Net proceeds from sales and maturities of investment securities — — 10 Investment in subsidiaries (39,414) (13,084) (16,282) Decrease in receivable from subsidiary 40,086 12,279 16,344 Business combinations, net of cash received 27,763 (1,239) (710) Other, net (1,636) (262) (1,998) Net cash used in investing activities 26,799 (2,306) (2,636) Financing activities Purchase of treasury stock (4,799) (9,152) (1,306) Proceeds from issuance of common shares 1,264 1,226 906 Cash dividends paid (51,845) (42,371) (31,002) Net cash used in financing activities (55,380) (50,297) (31,402) Net increase (decrease) in cash and cash equivalents 2,138 (241) 889 Cash and cash equivalents at the beginning of year 15,011 15,252 14,363 Cash and cash equivalents at the end of year $ 17,149 $ 15,011 $ 15,252 Supplemental cash flow information: Interest paid $ 676 $ 663 $ 331

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ 113,363	$ 101,292	$ 47,555

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
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 U.S. generally accepted accounting principles (“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:
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 Insurance Agency, LLC (“Peoples Insurance”) and Vantage Financial, LLC (“Vantage”)), Peoples Investment Company, NB&T Statutory Trust III, FNB Capital Trust One, Ascencia Statutory Trust I, and Porter Statutory Trusts II-IV, 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 securitization, and certain collateralized debt obligations.
Operating Segments	Operating Segments:
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 90 days or less. Peoples had no restricted funds at December 31, 2023 or at December 31, 2022 held in interest-bearing deposits in other banks, which were being used as collateral and not available for withdrawal.
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 accumulated other comprehensive loss (“AOCL”), 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 20 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. 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 and Ohio unemployment 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, 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 categorizes loans involving commercial borrowers into risk categories based upon an established grading matrix. This system is 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 and reverses accrued interest on nonperforming loans against interest income in a timely manner. 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. 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 AOCL 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 AOCL (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:
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 proportional amortization 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 $13.1 million and $15.1 million at December 31, 2023 and 2022, respectively.
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 $7.2 million at December 31, 2023 and $8.9 million at December 31, 2022.
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:
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 and credit 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 and credit 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 and credit 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. Overdraft fees are considered transactional-based fees and accounted for as described herein. Lease income: Peoples acquired its original 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. Operating lease income is another component of other non-interest income. Income on operating leases is recognized on a straight-line basis. Depreciation expense related to operating leases is recognized on a straight-line basis in “other non-interest expense.” Peoples began originated operating leases in 2023. Also included in other non-interest income are commercial loan swap fees, which consist of income related to transactions in which Peoples Bank originates variable rate loans with interest rate swaps, where the customer enters into an interest rate swap with Peoples Bank on terms that match the terms of the loan. By entering into the interest rate swap with the customer, Peoples Bank effectively provides the customer with a fixed rate loan while creating a variable rate asset for Peoples Bank. Peoples Bank offsets its exposure in the swap by entering into an offsetting interest rate swap with an unaffiliated financial institution. Commercial loan swap fees are recognized at a point in time, when the transaction has been completed, and there is no recourse or further performance obligation required of Peoples Bank. Commercial loan swap fees are variable as these fees are a certain percentage of the total swap fee collected on a completed transaction. Peoples Bank 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 reflect the temporary differences between the tax basis of an asset or liability and its reported amount in the Consolidated Financial Statements at the blended federal and state 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 that are 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.
Recent Adoptions of New Accounting Guidance	Recent Adoptions of New Accounting Guidance: 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’ Consolidated Financial Statements taken as a whole. ASU 2020-04 - Reference Rate Reform (Topic 848): 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 from 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. ASU 2020-04 was early adopted by Peoples as of September 30, 2021, which reduced 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. Peoples ceased originating LIBOR-based products after December 31, 2021 and began originating SOFR-indexed products. Any LIBOR-based products originated prior to December 31, 2021, but maturing after June 30, 2023, were amended to reference SOFR-indexed rates as of July 1, 2023. The transition did not have a material impact on Peoples’ Consolidated Financial Statements. ASU 2022-01 - Derivatives and Hedging (Topic 815): This guidance allows entities to apply the same portfolio hedging method to both prepayable and non-prepayable financial assets. It also allows multiple hedged layers to be designated for a single closed portfolio of financial assets or one or more beneficial interests secured by a portfolio of financial instruments. If a breach is anticipated, an entity is required to partially or fully de-designate a hedged layer or layers until a breach is no longer anticipated. There are additional requirements and enhanced disclosures related to basis adjustments. The guidance should be applied on a prospective, retrospective or modified retrospective basis depending on the amendment. This guidance was adopted by Peoples effective January 1, 2023 and the transition did not have a material impact on Peoples’ Consolidated Financial Statements. ASU 2022-02 - Financial Instruments - Credit Losses (Topic 326): This ASU eliminates the accounting guidance on TDRs for creditors and amends the guidance on disclosures to include current-period gross charge-offs by year of origination. This ASU also updates the requirements related to accounting for credit losses under Accounting Standards Codification (“ASC”) 326 and adds enhanced disclosures for creditors with respect to loan refinancings and restructurings for borrowers experiencing financial difficulty. For entities that have already adopted ASU 2016-13, as Peoples has, the amendments in ASU 2022-02 are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Effective January 1, 2023, Peoples adopted the amendments within ASU 2022-02, using the prospective transition method. The adoption of this guidance did not have a material impact on Peoples’ Consolidated Financial Statements. Pursuant to the guidance in ASU 2022-02, when a loan is restructured, Peoples continues to measure the allowance for credit losses on the loan using a discounted cash flow approach that utilizes a prepayment-adjusted discount rate based on the loan’s restructured terms. Under the TDR accounting model, Peoples modeled a 12-month extension of the contractual terms for TDRs that were to mature within the next 12 months. As Peoples has elected a prospective transition, the extension on a loan that was previously restructured and accounted for as a TDR will continue to be measured as it had been historically in Peoples’ allowance for credit losses until the loan is paid off, sold, liquidated or subsequently restructured. Refer to “Note 4 Loans and Leases” for additional information.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets Measured 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, 2023 and December 31, 2022, 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, 2023 December 31, 2022 (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 $ 30,296 $ — $ 152,422 $ — U.S. government sponsored agencies — 118,607 — 88,115 States and political subdivisions — 213,296 — 225,882 Residential mortgage-backed securities — 628,924 — 604,653 Commercial mortgage-backed securities — 51,234 — 50,049 Bank-issued trust preferred securities — 5,965 — 10,278 Total available-for-sale securities 30,296 1,018,026 152,422 978,977 Equity investment securities (a) 191 237 147 199 Derivative assets (b) — 22,304 — 34,123 Liabilities: Derivative liabilities (c) $ — $ 19,122 $ — $ 28,529 (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 Assets and Liabilities Measured 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, 2023 and December 31, 2022, 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, 2023 December 31, 2022 (Dollars in thousands) Level 2 Level 3 Level 2 Level 3 Collateral dependent loans $ — $ 501 $ — $ 10,354 Loans held for sale (a) 1,663 — 1,254 — Other real estate owned (“OREO”) — 7,118 — 55 (a) Loans held for sale are presented gross of a valuation allowance of $163 and $105 at December 31, 2023 and December 31, 2022, respectively.
Schedule of Financial Instruments Not Required to be Measured 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, 2023 December 31, 2022 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents 1 $ 426,722 $ 426,722 $ 154,022 $ 154,022 Held-to-maturity investment securities: Obligations of: U.S. government sponsored agencies 2 188,475 180,825 132,366 123,020 States and political subdivisions (a) 2 144,496 114,288 145,263 108,776 Residential mortgage-backed securities 2 248,559 231,620 176,215 157,998 Commercial mortgage-backed securities 2 102,365 85,289 101,861 85,354 Commercial mortgage-backed securities 3 — — 4,748 3,361 Total held-to-maturity securities 683,895 612,022 560,453 478,509 Other investment securities: Other investment securities at cost: Federal Home Loan Bank (“FHLB”) stock N/A 29,949 29,949 26,605 26,605 Federal Reserve Bank (“FRB”) stock N/A 26,896 26,896 21,231 21,231 Total other investment securities at cost 56,845 56,845 47,836 47,836 Other investment securities at fair value: Nonqualified deferred compensation (b) 1 3,162 3,162 2,048 2,048 Other investment securities (c) 2 2,985 2,985 1,379 1,379 Total other investment securities at fair value 62,992 62,992 51,263 51,263 Loans and leases, net of deferred fees and costs (d) 3 6,159,196 6,064,999 4,707,150 4,516,695 Bank owned life insurance 2 140,554 140,554 105,292 105,292 Financial liabilities: Deposits 2 $ 7,152,297 $ 6,319,885 $ 5,716,941 $ 4,682,491 Short-term borrowings 2 601,121 619,999 500,138 504,584 Long-term borrowings 2 216,241 222,743 101,093 101,992 (a) Held-to-maturity investment securities are presented gross of an allowance for credit losses of $238 and $241, at December 31, 2023 and at December 31, 2022, 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, 2023 and at December 31, 2022, 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 $62.0 million and $53.2 million, as of December 31, 2023 and December 31, 2022, respectively.

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Investment Securities	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 2023 Obligations of: U.S. Treasury and government agencies $ 30,999 $ 292 $ (995) $ 30,296 U.S. government sponsored agencies 128,500 639 (10,532) 118,607 States and political subdivisions 239,906 485 (27,095) 213,296 Residential mortgage-backed securities 717,772 1,819 (90,667) 628,924 Commercial mortgage-backed securities 60,611 5 (9,382) 51,234 Bank-issued trust preferred securities 6,500 — (535) 5,965 Total available-for-sale securities $ 1,184,288 $ 3,240 $ (139,206) $ 1,048,322 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
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) 2023 2022 2021 Gross gains realized $ 1,550 $ 314 $ 1,184 Gross losses realized 5,250 375 2,046 Net loss realized $ (3,700) $ (61) $ (862)
Schedule of Available-for-sale Securities with Unrealized Loss	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 2023 Obligations of: U.S. Treasury and government agencies $ 8,568 $ 83 22 $ 11,631 $ 912 5 $ 20,199 $ 995 U.S. government sponsored agencies 14,439 35 4 74,211 10,497 15 88,650 10,532 States and political subdivisions 18,268 136 32 167,346 26,959 138 185,614 27,095 Residential mortgage-backed securities 58,671 1,150 66 529,895 89,517 238 588,566 90,667 Commercial mortgage-backed securities 6,000 112 7 44,656 9,270 21 50,656 9,382 Bank-issued trust preferred securities 1,984 16 1 3,981 519 3 5,965 535 Total $ 107,930 $ 1,532 132 $ 831,720 $ 137,674 420 $ 939,650 $ 139,206 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
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, 2023. 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 $ 1,283 $ 15,302 $ 8,403 $ 6,011 $ 30,999 U.S. government sponsored agencies 2,499 59,086 34,849 32,066 128,500 States and political subdivisions 11,042 46,054 59,932 122,878 239,906 Residential mortgage-backed securities 3 3,690 61,069 653,010 717,772 Commercial mortgage-backed securities — 12,502 27,191 20,918 60,611 Bank-issued trust preferred securities — 3,000 3,500 — 6,500 Total available-for-sale securities $ 14,827 $ 139,634 $ 194,944 $ 834,883 $ 1,184,288 Fair value Obligations of: U.S. Treasury and government agencies $ 1,275 $ 14,354 $ 8,493 $ 6,174 $ 30,296 U.S. government sponsored agencies 2,486 54,898 30,426 30,797 118,607 States and political subdivisions 10,990 43,535 51,294 107,477 213,296 Residential mortgage-backed securities 3 3,570 56,084 569,267 628,924 Commercial mortgage-backed securities — 11,370 23,061 16,803 51,234 Bank-issued trust preferred securities — 2,920 3,045 — 5,965 Total available-for-sale securities $ 14,754 $ 130,647 $ 172,403 $ 730,518 $ 1,048,322 Total weighted-average yield 2.30 % 2.58 % 2.42 % 2.59 % 2.56 % 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, 2023. 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 $ 8,000 $ 13,152 $ 67,043 $ 100,280 $ 188,475 States and political subdivisions — 6,421 11,434 126,641 144,496 Residential mortgage-backed securities — 540 4,347 243,672 248,559 Commercial mortgage-backed securities 1,546 9,419 40,495 50,905 102,365 Total held-to-maturity securities $ 9,546 $ 29,532 $ 123,319 $ 521,498 $ 683,895 Fair value Obligations of: U.S. government sponsored agencies $ 7,931 $ 12,640 $ 66,717 $ 93,537 $ 180,825 States and political subdivisions — 6,343 9,875 98,070 114,288 Residential mortgage-backed securities — 528 3,818 227,274 231,620 Commercial mortgage-backed securities 1,528 8,058 34,752 40,951 85,289 Total held-to-maturity securities $ 9,459 $ 27,569 $ 115,162 $ 459,832 $ 612,022 Total weighted-average yield 3.81 % 2.87 % 3.98 % 3.55 % 3.60 %
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 2023 Obligations of: U.S. government sponsored agencies $ 188,475 $ — $ 489 $ (8,139) $ 180,825 States and political subdivisions 144,496 (238) 134 (30,104) 114,288 Residential mortgage-backed securities 248,559 — 1,643 (18,582) 231,620 Commercial mortgage-backed securities 102,365 — — (17,076) 85,289 Total held-to-maturity securities $ 683,895 $ (238) $ 2,266 $ (73,901) $ 612,022 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
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 2023 Obligations of: U.S. government sponsored agencies $ 64,487 $ 356 14 $ 86,071 $ 7,783 18 $ 150,558 $ 8,139 States and political subdivisions — — — 111,040 30,104 67 111,040 30,104 Residential mortgage-backed securities 44,379 1,105 14 117,654 17,477 34 162,033 18,582 Commercial mortgage-backed securities 13,919 1,845 6 71,370 15,231 31 85,289 17,076 Total $ 122,785 $ 3,306 34 $ 386,135 $ 70,595 150 $ 508,920 $ 73,901 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
Schedule of Other Investment Securities	The following table summarizes the carrying value of Peoples’ Other investment securities at December 31: (Dollars in thousands) 2023 2022 FHLB stock $ 29,949 $ 26,605 FRB stock 26,896 21,231 Nonqualified deferred compensation 3,162 2,048 Equity investment securities 429 346 Other investment securities 2,985 1,379 Total other investment securities $ 63,421 $ 51,609
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) 2023 2022 Securing public and trust department deposits, and Repurchase Agreements: Available-for-sale $ 713,033 $ 779,244 Held-to-maturity 559,142 312,921 Securing additional borrowing capacity at the FHLB and the FRB: Available-for-sale 85,899 3,972 Held-to-maturity 39,607 128,870 (Dollars in thousands) 2023 2022 Loans pledged to FHLB $ 1,206,134 $ 783,843 Loans pledged to FRB 419,245 339,005

Loans and Leases (Tables)

Loans and Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Loans by Classification	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) 2023 2022 Construction $ 364,019 $ 246,941 Commercial real estate, other 2,196,957 1,423,518 Commercial and industrial 1,184,986 892,634 Premium finance 203,177 159,197 Leases 414,060 345,131 Residential real estate 791,095 723,360 Home equity lines of credit 208,675 177,858 Consumer, indirect 666,472 629,426 Consumer, direct 128,769 108,363 Deposit account overdrafts 986 722 Total loans, at amortized cost $ 6,159,196 $ 4,707,150
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: 2023 2022 (Dollars in thousands) Nonaccrual (a) Accruing Loans 90+ Days Past Due Nonaccrual (a) Accruing Loans 90+ Days Past Due Construction $ — $ — $ 12 $ — Commercial real estate, other 2,816 78 12,121 167 Commercial and industrial 2,758 316 3,462 130 Premium finance — 1,355 — 504 Leases 8,436 3,826 3,178 3,041 Residential real estate 7,921 877 9,496 917 Home equity lines of credit 1,022 171 820 58 Consumer, indirect 2,412 68 2,176 — Consumer, direct 112 25 208 25 Total loans, at amortized cost $ 25,477 $ 6,716 $ 31,473 $ 4,842 (a) There were $1.2 million of nonaccrual loans for which there was no allowance for credit losses at December 31, 2023 and $1.4 million of such loans at December 31, 2022.
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 2023 Construction $ 13 $ 52 $ — $ 65 $ 363,954 $ 364,019 Commercial real estate, other 2,728 4,556 1,572 8,856 2,188,101 2,196,957 Commercial and industrial 1,717 1,491 3,052 6,260 1,178,726 1,184,986 Premium finance 1,288 867 1,355 3,510 199,667 203,177 Leases 12,743 4,932 12,014 29,689 384,371 414,060 Residential real estate 14,021 2,733 4,481 21,235 769,860 791,095 Home equity lines of credit 1,561 691 683 2,935 205,740 208,675 Consumer, indirect 7,488 1,550 1,230 10,268 656,204 666,472 Consumer, direct 536 282 43 861 127,908 128,769 Deposit account overdrafts — — — — 986 986 Total loans, at amortized cost $ 42,095 $ 17,154 $ 24,430 $ 83,679 $ 6,075,517 $ 6,159,196 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
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) 2023 2022 Securing public and trust department deposits, and Repurchase Agreements: Available-for-sale $ 713,033 $ 779,244 Held-to-maturity 559,142 312,921 Securing additional borrowing capacity at the FHLB and the FRB: Available-for-sale 85,899 3,972 Held-to-maturity 39,607 128,870 (Dollars in thousands) 2023 2022 Loans pledged to FHLB $ 1,206,134 $ 783,843 Loans pledged to FRB 419,245 339,005
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, 2022 $ 27,372 Acquired loans 18,892 New loans and disbursements 466 Repayments (215) No longer related party (a) (26,696) Other changes 347 Balance, December 31, 2023 $ 20,166 (a) Two directors exited the company and therefore were no longer considered related parties.
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, 2023: Term Loans at Amortized Cost by Origination Year (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Total Loans Construction Pass $ 80,273 $ 141,245 $ 85,913 $ 27,169 9,995 $ 12,723 $ — $ — $ 357,318 Special mention — 3,757 — — — 123 — — 3,880 Substandard 1,200 1,590 — — — 31 — — 2,821 Total 81,473 146,592 85,913 27,169 9,995 12,877 — — 364,019 Current period gross charge-offs — — 9 — — — 9 Commercial real estate, other Pass 199,565 327,762 366,752 227,604 262,099 650,265 37,177 189 2,071,224 Special mention 999 12,975 4,850 10,324 7,074 22,186 408 41 58,816 Substandard 287 2,421 5,878 8,679 1,972 47,213 457 — 66,907 Doubtful — — — — — 10 — — 10 Total 200,851 343,158 377,480 246,607 271,145 719,674 38,042 230 2,196,957 Current period gross charge-offs — — — 39 — 575 614 Commercial and industrial Pass 225,894 180,068 212,938 86,934 55,434 132,675 213,714 38 1,107,657 Special mention 540 12,051 533 9,723 4,722 6,336 16,236 8,614 50,141 Substandard 78 6,441 5,104 5,617 1,602 6,278 1,889 779 27,009 Doubtful — — — — — 179 — — 179 Total 226,512 198,560 218,575 102,274 61,758 145,468 231,839 9,431 1,184,986 Current period gross charge-offs — 36 202 25 173 415 851 Premium finance Pass 201,659 1,517 1 — — — — — 203,177 Total 201,659 1,517 1 — — — — — 203,177 Current period gross charge-offs 25 97 — — — — 122 Leases Pass 216,559 114,327 51,307 14,061 4,883 1,501 — 402,638 Special mention 363 1,529 476 81 1 5 2,455 Substandard 1,937 3,006 2,944 448 321 311 8,967 Total 218,859 118,862 54,727 14,590 5,205 1,817 — — 414,060 Current period gross charge-offs 963 1,328 1,173 233 165 135 3,997 Residential real estate Pass 75,957 91,506 140,157 58,144 45,507 369,552 — — 780,823 Substandard 43 243 585 182 529 8,604 — — 10,186 Loss — — — — — 86 — — 86 Total 76,000 91,749 140,742 58,326 46,036 378,242 — — 791,095 Current period gross charge-offs — — — — — 170 170 Home equity lines of credit Pass 39,706 42,565 33,406 19,838 14,297 57,482 27 1,346 207,321 Substandard 19 — 61 34 123 1,109 — — 1,346 Loss — — — — — 8 — — 8 Total 39,725 42,565 33,467 19,872 14,420 58,599 27 1,346 208,675 Current period gross charge-offs — — — — — 110 110 Consumer, indirect Pass 247,829 225,225 96,698 59,044 18,644 15,977 — — 663,417 Substandard 333 934 789 558 190 206 — — 3,010 Loss 7 34 2 — 2 — — — 45 Total 248,169 226,193 97,489 59,602 18,836 16,183 — — 666,472 Current period gross charge-offs 609 2,091 865 255 63 147 4,030 Consumer, direct Pass 58,445 37,050 17,434 8,282 3,185 4,081 — — 128,477 Substandard 55 79 47 28 30 27 — — 266 Loss — — — — — 26 — — 26 Total 58,500 37,129 17,481 8,310 3,215 4,134 — — 128,769 Current period gross charge-offs 36 154 77 100 14 35 416 Deposit account overdrafts 986 — — — — — — — 986 Current period gross charge-offs 1,161 1,161 Total loans, at amortized cost $ 1,352,734 $ 1,206,325 $ 1,025,875 $ 536,750 $ 430,610 $ 1,336,994 $ 269,908 $ 11,007 $ 6,159,196 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
Schedule of Amortized Cost of Collateral Dependent Loans	The following table details Peoples’ amortized cost of collateral dependent loans as of December 31: (Dollars in thousands) 2023 2022 Commercial real estate, other $ — $ 8,362 Commercial and industrial — 1,456 Residential real estate 501 536 Total collateral dependent loans $ 501 $ 10,354
Schedule of Financing Receivables Modified	The following table displays the amortized cost of loans that were restructured during the twelve months ended December 31, 2023, presented by loan classification. During the Twelve Months Ended December 31, 2023 (a) Payment Delay (Only) (Dollars in thousands) Forbearance Plan Payment Deferral Trial Modification and Repayment Plans Term Extension Forbearance Plan and Term Extension Total Percentage of Total by Loan Category (b) Construction $ — $ 1,590 $ — $ 52 $ — $ 1,642 0.45 % Commercial real estate 184 — — 2,160 — 2,344 0.11 % Commercial and industrial — — — 4,110 981 5,091 0.43 % Residential real estate — — — 91 — 91 0.01 % Home equity lines of credit — — — 209 — 209 0.10 % Total $ 184 $ 1,590 $ — $ 6,622 $ 981 $ 9,377 0.15 % (a) The table presented above excludes loans that were paid off or otherwise no longer included in the loan portfolio as of period end. (b) Based on the amortized cost basis as of period end, divided by the period end amortized cost basis of the corresponding class of financing receivable. The following table summarizes the financial impacts of loan modifications and payment deferrals made to loans during the twelve months ended December 31, 2023, presented by loan classification. During the Twelve Months Ended December 31, 2023 (Dollars in thousands) Weighted-Average Term Extension Average Amount Capitalized as a Result of a Payment Delay (a) Construction 5 $ — Commercial real estate 7 — Commercial and industrial 5 — Residential real estate 213 8,076 Home equity lines of credit 187 — Consumer, indirect 2 $ — (a) Represents the average amount of delinquency-related amounts that were capitalized as part of the loan balance. Amounts are in whole dollars. The following table displays an aging analysis of loans that were modified on or after January 1, 2023, the date Peoples adopted ASU 2022-02, through December 31, 2023, presented by classification and class of financing receivable. As of December 31, 2023 (a) (Dollars in thousands) 30-59 Days Delinquent 60-89 Days Delinquent 90+ Days Delinquent Total Delinquent Current Total Construction $ — $ 52 $ — $ 52 $ 1,590 $ 1,642 Commercial real estate — — — — 2,344 2,344 Commercial and industrial — 750 148 898 4,193 5,091 Residential real estate — — — — 91 91 Home equity lines of credit — — — — 209 209 Total loans modified (b) $ — $ 802 $ 148 $ 950 $ 8,427 $ 9,377 (a) The table presented above excludes loans that were paid off or otherwise no longer included in the loan portfolio as of period end. (b) Represents the amortized cost basis as of period end. The following table summarizes the loans that were modified as TDRs during the year ended December 31, 2022. Recorded Investment (a) (Dollars in thousands) Number of Contracts Pre-Modification Post-Modification Remaining Recorded Investment 2022 Construction — $ — $ — $ — 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 (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 (Dollars in thousands) 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 — Consumer, indirect 1 7 — Consumer, direct 1 2 — Home equity lines of credit — — — Total 6 $ 181 $ — (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 Defaulted Financing Receivables Modified	The following table displays the amortized cost of loans that received a completed modification or payment deferral on or after January 1, 2023, the date Peoples adopted ASU 2022-02, through December 31, 2023, and that defaulted in the period presented. For purposes of this disclosure, Peoples defines loans that had a payment default as loans that were 90 days or more past due following a modification through December 31, 2023. For the Twelve Months Ended December 31, 2023 (Dollars in thousands) Term Extension Total Commercial and industrial $ 148 $ 148 Consumer, indirect 11 11 Total loans that subsequently defaulted $ 159 $ 159 (1) Represents the sum of amortized cost and gross charge-off as of period end. Excludes loans that liquidated either through foreclosure, deed-in-lieu of foreclosure, or a short sale.
Schedule of Activity in Allowance for Loan and Lease Losses	Changes in the allowance for credit losses for 2023 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, 2023 Construction $ 1,250 $ — $ (542) $ (9) $ — $ 699 Commercial real estate, other 17,710 1,340 1,514 (614) 965 20,915 Commercial and industrial 8,229 379 2,181 (851) 552 10,490 Premium finance 344 — 238 (122) 24 484 Leases 8,495 — 5,990 (3,997) 362 10,850 Residential real estate 6,357 228 (670) (170) 192 5,937 Home equity lines of credit 1,693 18 (14) (110) 1 1,588 Consumer, indirect 7,448 — 4,685 (4,030) 487 8,590 Consumer, direct 1,575 86 1,025 (416) 73 2,343 Deposit account overdrafts 61 — 938 (1,161) 277 115 Total $ 53,162 $ 2,051 $ 15,345 $ (11,480) $ 2,933 $ 62,011 (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 2022 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, 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) 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, 2023
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) 2023 2022 Land $ 23,680 $ 18,746 Building and premises 120,587 101,478 Furniture, fixtures and equipment 42,360 37,913 Total bank premises and equipment 186,627 158,137 Accumulated depreciation (82,771) (75,203) Net book value $ 103,856 $ 82,934

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Sales Type Lease Income	The table below details Peoples’ lease income for the years ended December 31, 2023 and 2022: (Dollars in thousands) 2023 2022 Interest and fees on leases (a) $ 42,931 $ 34,720 Lease income 5,552 4,267 Other non-interest income 2,308 — Total lease income $ 50,791 $ 38,987 (a) Included in “Interest and fees on loans” on the Consolidated Statements of Income. For additional information, see “Note 4 Loans and Leases.”
Schedule of Sales 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) 2023 2022 Lease payments receivable, at amortized cost $ 463,742 $ 367,681 Estimated residual values 33,448 35,045 Initial direct costs 7,114 4,233 Deferred revenue (90,244) (61,828) Total leases, at amortized cost 414,060 345,131 Allowance for credit losses - leases (10,850) (8,495) Net investment in sales-type leases $ 403,210 $ 336,636
Schedule of Sales Type Lease Maturity	The following table summarizes the contractual maturities of leases: (Dollars in thousands) Balance 2024 $ 110,893 2025 108,346 2026 94,672 2027 74,997 2028 56,111 Thereafter 18,723 Lease payments receivable, at amortized cost $ 463,742
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) 2023 2022 Operating lease expense $ 3,030 $ 2,568 Short-term lease expense 268 745 Total lease expense $ 3,298 $ 3,313 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) 2023 2022 ROU asset: Other assets $ 11,689 $ 6,825 Lease liability: Accrued expenses and other liabilities $ 12,080 $ 7,551 Other information: Weighted-average remaining lease term 9.5 years 8.8 years Weighted-average discount rate 3.34 % 2.70 % Cash paid during the year for operating leases $ 2,990 $ 2,560 Additions for ROU assets obtained during the year $ 4,428 $ 880
Schedule of Operating Lease Maturities	The following table summarizes the future lease payments of operating leases: (Dollars in thousands) Payments 2024 $ 2,588 2025 2,020 2026 1,750 2027 1,599 2028 1,218 Thereafter 5,413 Total undiscounted lease payments $ 14,588 Imputed interest (2,508) Total lease liability $ 12,080

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
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) 2023 2022 Goodwill, beginning of year $ 292,397 $ 264,193 Goodwill recorded from acquisitions 69,772 28,204 Goodwill, end of year $ 362,169 $ 292,397
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 2023 Gross intangibles $ 26,464 $ 37,920 $ 2,491 $ 66,875 Intangibles recorded from acquisitions 27,722 — — 27,722 Accumulated amortization (25,670) (20,680) — (46,350) Total acquisition-related intangibles $ 28,516 $ 17,240 $ 2,491 $ 48,247 Servicing rights 1,385 Non-compete agreements (a) 371 Total other intangibles $ 50,003 2022 Gross intangibles $ 26,464 $ 25,173 $ 1,274 $ 52,911 Intangibles recorded from acquisitions (b) — 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 (a) Non-compete agreements were recognized due to acquisitions. (b) Peoples included in customer relationship intangibles intangible assets related to a non-compete agreements in the amount of $1.3 million at December 31, 2022.
Schedule of Future Amortization of Other Intangible Assets	The following table details estimated aggregate future amortization of other intangible assets at December 31, 2023: (Dollars in thousands) Core Deposits Customer Relationships (a) Total 2024 $ 5,875 $ 5,310 $ 11,185 2025 4,609 4,221 8,830 2026 3,736 3,081 6,817 2027 3,043 2,256 5,299 2028 2,608 1,549 4,157 Thereafter 8,645 1,194 9,839 Total $ 28,516 $ 17,611 $ 46,127 (a) Peoples includes in customer relationship intangibles intangible assets related to a non-compete agreements.
Schedule of Servicing Rights Activity	The following is an analysis of activity of servicing rights for the years ended December 31: (Dollars in thousands) 2023 2022 2021 Balance, beginning of year $ 1,816 $ 2,218 $ 2,486 Amortization (457) (594) (936) Servicing rights originated 27 180 519 Change in valuation allowance (1) 12 149 Balance, end of year $ 1,385 $ 1,816 $ 2,218
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: 2023 2022 Minimum Maximum Minimum Maximum Discount rates 13.5 % 16.0 % 12.5 % 15.0 % Prepayment speeds 7.7 % 16.1 % 6.5 % 23.8 %

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2023
Banking and Thrift, Other Disclosure [Abstract]
Schedule of Deposit Balances	Peoples’ deposit balances were comprised of the following at December 31: (Dollars in thousands) 2023 2022 Retail CDs: $100 or more $ 815,300 $ 263,341 Less than $100 628,117 266,895 Total retail CDs 1,443,417 530,236 Interest-bearing deposit accounts 1,144,357 1,160,182 Savings accounts 919,244 1,068,547 Money market deposit accounts 775,488 617,029 Governmental deposit accounts 726,713 625,965 Brokered deposit accounts 575,429 125,580 Total interest-bearing deposits 5,584,648 4,127,539 Non-interest-bearing deposits 1,567,649 1,589,402 Total deposits $ 7,152,297 $ 5,716,941
Schedule of Time Deposit Maturities	Uninsured time deposits are broken out below by time remaining until maturity. (Dollars in thousands) 2023 2022 3 months or less $ 58,708 $ 19,282 Over 3 to 6 months 99,928 14,871 Over 6 to 12 months 131,263 14,383 Over 12 months 37,180 52,216 Total $ 327,079 $ 100,752 The contractual maturities of CDs for each of the next five years and thereafter are as follows: (Dollars in thousands) Retail Brokered Total 2024 $ 1,278,306 $ 575,429 $ 1,853,735 2025 113,820 — 113,820 2026 18,033 — 18,033 2027 25,033 — 25,033 2028 8,176 — 8,176 Thereafter 49 — 49 Total CDs $ 1,443,417 $ 575,429 $ 2,018,846

Short-Term Borrowings (Tables)

Short-Term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2023
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 2023 Ending balance $ 99,121 $ 369,000 $ 133,000 $ 601,121 Average balance 102,530 353,532 7,495 463,557 Highest month-end balance 125,937 484,000 133,000 585,439 Interest expense $ 1,349 $ 18,058 $ 315 $ 19,722 Weighted-average interest rate: End of year 1.54 % 5.41 % 4.85 % 4.65 % During the year 1.32 % 5.11 % 4.93 % 4.25 % 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 %

Long-Term Borrowings (Tables)

Long-Term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Borrowings	Long-term borrowings consisted of the following at December 31: 2023 2022 (Dollars in thousands) Balance Weighted- Average Rate Balance Weighted- Average Rate FHLB putable, non-amortizing, fixed rate advances $ 110,000 3.98 % $ 30,000 2.51 % FHLB amortizing, fixed rate advances 2,865 1.81 % 4,158 1.79 % Vantage non-recourse borrowings 49,572 6.26 % 53,147 4.75 % Other long-term borrowings 53,804 9.67 % 13,788 8.66 % Long-term borrowings (a) $ 216,241 $ 101,093 (a) The weighted-average interest rate on total long-term borrowings at December 31, 2023 and December 31, 2022 was 5.89% and 4.50%, respectively.
Schedule of Subordinated Borrowing	(Dollars in thousands) April 30, 2023 December 31, 2023 Description Maturity Year Par Value Fair Value Carrying Value Interest Rate Ascencia Statutory Trust I 2034 3,000 2,430 2,487 12.99 % Porter Statutory Trust II 2034 5,000 4,050 4,145 13.00 % Porter Statutory Trust III 2034 3,000 2,410 2,468 13.04 % Porter Statutory Trust IV 2037 10,000 6,886 7,124 14.19 % Floating rate junior subordinated deferrable interest debentures 2029 25,000 23,677 23,913 7.08 % Total 46,000 39,453 40,137
Schedule of Aggregate Minimum Annual Retirements of Long-Term Borrowings	At December 31, 2023, the aggregate minimum annual retirements of long-term borrowings in future periods were as follows: (Dollars in thousands) Balance 2024 $ 12,332 2025 7,377 2026 38,015 2027 7,569 2028 86,589 Thereafter 64,359 Total long-term borrowings $ 216,241

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2023
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, 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 Changes related to stock-based compensation awards: Grant of restricted common shares — (259,648) Release of restricted common shares — 43,087 Cancellation of restricted common shares — 16,778 Grant of unrestricted common shares (1,900) Changes related to deferred compensation plan for Boards of Directors: Purchase of treasury stock — 21,042 Disbursed out of treasury stock — (4,368) Common shares repurchased under repurchase program — 107,219 Common shares issued under dividend reinvestment plan 50,453 — Common shares issued under compensation plan for Boards of Directors — (19,931) Common shares issued under employee stock purchase plan — (34,392) Issuance of common shares related to the Limestone Merger 6,827,668 — Shares at December 31, 2023 36,736,041 1,511,348
Schedule of Dividends Declared	The following table details the cash dividends declared per common share for the year ended December 31: 2023 2022 First Quarter $ 0.38 $ 0.36 Second Quarter 0.39 0.38 Third Quarter 0.39 0.38 Fourth Quarter 0.39 0.38 Total dividends declared $ 1.55 $ 1.50
Schedule of Accumulated Other Comprehensive Income (Loss)	The following details the change in the components of Peoples’ accumulated other comprehensive income (loss) 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 Income (Loss) 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) Reclassification adjustments to net income: Realized loss on sale of securities, net of tax 2,836 — — 2,836 Realized loss due to settlement and curtailment, net of tax — 1,858 — 1,858 Other comprehensive income (loss), net of reclassifications and tax 22,838 (225) (1,761) 20,852 Balance, December 31, 2023 $ (104,222) $ — $ 2,632 $ (101,590)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
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: 2023 2022 2021 (Dollars in thousands) Amount Rate Amount Rate Amount Rate Income tax computed at statutory federal corporate income tax rate $ 30,476 21.0 % $ 27,015 21.0 % $ 11,954 21.0 % Differences in rate resulting from: State taxes, net of federal benefit 3,053 2.1 % 2,277 1.8 % 119 0.2 % Investment securities impairment — — % 431 0.3 % — — % Nondeductible acquisition costs 168 0.1 % 42 — % 269 0.5 % Common share awards (99) (0.1) % 12 — % 74 0.1 % Bank owned life insurance (872) (0.6) % (551) (0.4) % (371) (0.6) % Investments in tax credit funds (352) (0.2) % (629) (0.5) % (381) (0.7) % Captive insurance benefit (330) (0.2) % (421) (0.3) % (435) (0.8) % Tax-exempt interest income (555) (0.4) % (921) (0.7) % (835) (1.5) % Fixed asset depreciation — — % — — % (1,142) (2.0) % Other, net 274 0.2 % 94 0.1 % 163 0.3 % Income tax expense $ 31,763 21.9 % $ 27,349 21.3 % $ 9,415 16.5 %
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) 2023 2022 2021 Current income tax expense $ 32,001 $ 8,783 $ 6,541 Deferred income tax (benefit) expense (238) 18,566 2,874 Income tax expense $ 31,763 $ 27,349 $ 9,415
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) 2023 2022 Deferred tax assets: Available-for-sale securities $ 31,774 $ 39,425 Allowance for credit losses 14,902 12,827 Nonaccrual loan interest income 2,753 4,366 Accrued employee benefits 7,344 3,391 Lease obligation 2,822 1,757 Net operating loss carryforward 11,367 158 Purchase accounting adjustments 1,920 — Other 1,622 899 Gross deferred tax assets $ 74,504 $ 62,823 Valuation allowance $ 158 $ 158 Total deferred tax assets $ 74,346 $ 62,665 Deferred tax liabilities: Equipment leases $ 11,286 $ 16,316 Deferred loan income 3,117 5,512 Purchase accounting adjustments — 4,431 Bank premises and equipment 5,116 3,206 Lease right-of-use assets 2,731 1,588 Derivative instruments 774 1,302 Other 3,951 2,259 Total deferred tax liabilities $ 26,975 $ 34,614 Net deferred tax asset $ 47,371 $ 28,051
Schedule of Income Tax Contingencies	The following table provides a reconciliation of uncertain tax positions at December 31: (Dollars in thousands) 2023 2022 Uncertain tax positions, beginning of year $ 89 $ 106 Gross increase based on tax positions related to current year 527 39 Gross decrease due to the statute of limitations (89) (56) Uncertain tax positions, end of year $ 527 $ 89

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2023
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) 2023 2022 2021 Net income available to common shareholders $ 113,363 $ 101,292 $ 47,555 Less: Dividends paid on unvested common shares 531 354 295 Less: Undistributed loss allocated to unvested common shares 269 96 26 Net earnings allocated to common shareholders $ 112,563 $ 100,842 $ 47,234 Weighted-average common shares outstanding 32,533,086 27,908,022 21,816,511 Effect of potentially dilutive common shares 227,722 91,580 143,372 Total weighted-average diluted common shares outstanding 32,760,808 27,999,602 21,959,883 Earnings per common share: Basic $ 3.46 $ 3.61 $ 2.17 Diluted $ 3.44 $ 3.60 $ 2.15 Anti-dilutive common shares excluded from calculation: Restricted common shares 9,123 — 275

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
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) 2023 2022 Notional amount $ 105,000 $ 125,000 Weighted average pay rates 2.22 % 2.26 % Weighted average receive rates 4.63 % 4.44 % Weighted average maturity 2.0 years 2.6 years Pre-tax changes in fair value included in AOCL 3,434 5,727
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table presents changes in fair value recorded in AOCL and in the Consolidated Statements of Income related to the cash flow hedges for the years ended December 31: (Dollars in thousands) 2023 2022 Amount of income recognized in AOCL, pre-tax $ (2,293) $ 10,606
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: 2023 2022 (Dollars in thousands) Notional Amount Fair Value Notional Amount Fair Value Included in “Other assets”: Interest rate swaps related to debt $ 105,000 $ 3,314 $ 125,000 $ 5,594 Total included in “Other assets” $ 105,000 $ 3,314 $ 125,000 $ 5,594
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: 2023 2022 (Dollars in thousands) Notional Amount Fair Value Notional Amount Fair Value Included in “Other assets”: Interest rate swaps related to commercial loans $ 416,106 $ 18,990 $ 390,126 $ 28,529 Total included in “Other assets” 416,106 18,990 390,126 28,529 Included in “Accrued expenses and other liabilities”: Interest rate swaps related to commercial loans $ 416,106 19,122 $ 390,126 $ 28,529 Total included in “Accrued expenses and other liabilities” 416,106 19,122 390,126 28,529

Off-Balance Sheet Risk (Tables)

Off-Balance Sheet Risk (Tables)	12 Months Ended
	Dec. 31, 2023
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) 2023 2022 Home equity lines of credit $ 244,367 $ 197,995 Unadvanced construction loans 349,850 270,229 Other loan commitments 769,759 730,015 Loan commitments 1,363,976 1,198,239 Standby letters of credit $ 14,318 $ 15,451

Regulatory Matters (Tables)

Regulatory Matters (Tables)	12 Months Ended
	Dec. 31, 2023
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: 2023 2022 (Dollars in thousands) Amount Ratio Amount Ratio PEOPLES Common Equity Tier 1 (a) Actual $ 766,692 11.56 % $ 604,566 11.92 % For capital adequacy 298,393 4.50 % 228,206 4.50 % To be well capitalized 431,011 6.50 % 329,631 6.50 % Tier 1 (b) Actual $ 820,496 12.37 % $ 618,354 12.19 % For capital adequacy 397,857 6.00 % 304,274 6.00 % To be well capitalized 530,476 8.00 % 405,699 8.00 % Total Capital (c) Actual $ 873,226 13.17 % $ 662,421 13.06 % For capital adequacy 530,476 8.00 % 405,699 8.00 % To be well capitalized 663,095 10.00 % 507,124 10.00 % Tier 1 Leverage (d) Actual $ 820,496 9.48 % $ 618,354 8.92 % For capital adequacy 346,112 4.00 % 277,302 4.00 % To be well capitalized 432,640 5.00 % 346,628 5.00 % Capital Conservation Buffer $ 342,750 5.17 % $ 256,722 5.06 % Fully phased in 165,774 2.50 % 126,781 2.50 % Net Risk-Weighted Assets $ 6,630,945 $ 5,071,240 PEOPLES BANK Common Equity Tier 1 (a) Actual $ 783,790 11.85 % $ 593,609 11.72 % For capital adequacy 297,638 4.50 % 227,843 4.50 % To be well capitalized 429,921 6.50 % 329,107 6.50 % Tier 1 (b) Actual $ 783,790 11.85 % $ 593,609 11.72 % For capital adequacy 396,850 6.00 % 303,791 6.00 % To be well capitalized 529,134 8.00 % 405,055 8.00 % Total Capital (c) Actual $ 836,520 12.65 % $ 637,676 12.59 % For capital adequacy 529,134 8.00 % 405,055 8.00 % To be well capitalized 661,417 10.00 % 506,318 10.00 % Tier 1 Leverage (d) Actual $ 783,790 9.12 % $ 593,609 8.58 % For capital adequacy 343,613 4.00 % 276,712 4.00 % To be well capitalized 429,517 5.00 % 345,890 5.00 % Capital Conservation Buffer $ 307,386 4.65 % $ 232,621 4.59 % Fully phased in 165,354 2.50 % 126,580 2.50 % Net Risk-Weighted Assets $ 6,614,172 $ 5,063,183 (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, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Restricted Shares Activity	The following summarizes the changes to Peoples’ outstanding restricted common shares for the year ended December 31, 2023: Time-Based Vesting Performance-Based Vesting Number of Common Shares Weighted-Average Grant Date Fair Value Number of Common Shares Weighted-Average Grant Date Fair Value Outstanding at January 1 138,522 $ 27.25 295,565 $ 32.20 Awarded 71,276 26.40 188,372 30.30 Released (60,420) 22.26 (70,458) 32.91 Forfeited (6,959) 30.52 (9,509) 31.11 Outstanding at December 31 142,419 $ 28.78 403,970 $ 31.21
Schedule of Stock-Based Compensation and Related Tax Benefit	The following summarizes the amount of stock-based compensation and related tax benefit recognized for the years ended December 31: (Dollars in thousands) 2023 2022 2021 Employee stock-based compensation expense: Restricted common share grant expense $ 5,337 $ 3,707 $ 3,436 Employee stock purchase plan expense 140 112 79 Total employee stock-based compensation expense 5,477 3,819 3,515 Non-employee director stock-based compensation expense 548 506 375 Total stock-based compensation expense 6,025 4,325 3,890 Recognized tax benefit (1,402) (1,007) (867) Net expense recognized $ 4,623 $ 3,318 $ 3,023

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
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) 2023 2022 Insurance income: Commission and fees from sale of insurance policies (a) $ 16,081 $ 13,960 Fees related to third-party administration services (a) 301 343 Performance-based commissions (b) 1,634 1,424 Trust and investment income: Fiduciary income (a) 10,295 10,048 Brokerage income (a) 6,865 6,343 Electronic banking income: Interchange income (a) 19,380 16,674 Promotional and usage income (a) 5,830 4,420 Deposit account service charges: Ongoing maintenance fees for deposit accounts (a) 6,425 5,323 Transactional-based fees (b) 10,257 9,260 Commercial loan swap fees (b) 782 662 Other non-interest income transactional-based fees (b) 1,650 1,499 Total $ 79,500 $ 69,956 Timing of revenue recognition: Services transferred over time $ 65,177 $ 57,111 Services transferred at a point in time 14,323 12,845 Total $ 79,500 $ 69,956 (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, 2023: (Dollars in thousands) Contract Assets Contract Liabilities Balance, January 1, 2023 $ 1,294 $ 5,634 Additional income receivable 209 — Additional deferred income — 411 Receipt of income previously receivable (750) — Recognition of income previously deferred — (269) Balance, December 31, 2023 $ 753 $ 5,776

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Assets Acquired and Liabilities Assumed	The following table provides the purchase price calculation as of the date of the Limestone Merger, and the assets acquired and liabilities assumed at their estimated fair values. The estimated fair values below are subject to adjustment for up to one year after April 30, 2023, which include, but are not limited to, loans, including the designation of PCD loans, deferred tax assets and liabilities, and certain other assets and other liabilities. (Dollars in thousands) Fair Value Total purchase price $ 177,931 Assets Cash and balances due from banks 6,422 Interest-bearing deposits in other banks 87,115 Total cash and cash equivalents 93,537 Available-for-sale investment securities, at fair value 166,944 Other investment securities 5,716 Total investment securities 172,660 Loans and leases 1,077,929 Allowance for credit losses (on PCD loans) (2,051) Net loans 1,075,878 Bank premises and equipment, net of accumulated depreciation 17,690 Bank owned life insurance 31,343 Other intangible assets 27,722 Other assets 36,874 Total assets 1,455,704 Liabilities Deposits: Non-interest-bearing 262,727 Interest-bearing 971,457 Total deposits 1,234,184 Short-term borrowings 60,000 Long-term borrowings 39,453 Accrued expenses and other liabilities 12,967 Total liabilities 1,346,604 Net assets 109,100 Goodwill $ 68,831 (Dollars in thousands) Fair Value Loans (2,051) Allowance for credit losses (on PCD loans) (890) Net loans (2,941) Other assets 1,949 Total assets (992) Liabilities Long-term borrowings 5,709 Total liabilities 5,709 Net assets (6,701) Goodwill $ 6,701 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 (Dollars in thousands) Fair Value 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
Schedule of Acquired 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 Commercial real estate, other $ 30,907 $ (1,340) $ (2,160) $ 27,407 Commercial and industrial 16,466 (379) (610) 15,477 Residential real estate 6,328 (228) (770) 5,330 Home equity lines of credit 774 (18) 11 767 Consumer 1,029 (86) 78 1,021 Fair value $ 55,504 $ (2,051) $ (3,451) $ 50,002 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
Schedule of Pro Forma Information	The pro forma information does not necessarily reflect the results of operations that would have occurred had Peoples acquired Limestone on January 1, 2022. Additionally, cost savings and other business synergies related to the acquisition are not reflected in the pro forma amounts. Unaudited Pro Forma For Twelve months ended (Dollars in thousands) December 31, 2023 December 31, 2022 Net interest income $ 351,164 $ 317,226 Non-interest income 87,890 87,713 Net income 130,153 127,023

Parent Company Only Financial_2

Parent Company Only Financial Information (Tables)	12 Months Ended
	Dec. 31, 2023
Parent Company Only Financial Information [Abstract]
Schedule of Condensed Balance Sheet	Condensed Balance Sheets December 31, (Dollars in thousands) 2023 2022 Assets: Cash and due from other banks $ 50 $ 50 Interest-bearing deposits in subsidiary bank 17,099 14,961 Due from subsidiary bank 771 1,353 Other investment securities 237 234 Investments in subsidiaries: Bank 1,072,238 774,294 Non-bank 17,606 11,944 Other assets 12,084 2,877 Total assets $ 1,120,085 $ 805,713 Liabilities: Accrued expenses and other liabilities $ 3,342 $ 3,336 Dividends payable 938 781 Mandatorily redeemable capital securities of subsidiary trusts and junior subordinated debentures 62,271 16,268 Total liabilities 66,551 20,385 Total stockholders’ equity 1,053,534 785,328 Total liabilities and stockholders’ equity $ 1,120,085 $ 805,713
Schedule of Condensed Income Statement	Condensed Statements of Income Year Ended December 31, (Dollars in thousands) 2023 2022 2021 Income: Dividends from subsidiary bank $ 48,000 $ 52,000 $ 29,000 Dividends from non-bank subsidiary 200 1,860 1,750 Interest and other income 11 39 73 Total income 48,211 53,899 30,823 Expense: Trust preferred securities expense 1,147 744 367 Intercompany management fees 1,873 1,379 1,303 Other expense 11,011 6,539 5,675 Total expense 14,031 8,662 7,345 Income before federal income taxes and equity in undistributed earnings of subsidiaries 34,180 45,237 23,478 Applicable income tax expense (3,296) (1,979) (1,295) Equity in undistributed earnings of subsidiaries 75,887 54,076 22,782 Net income $ 113,363 $ 101,292 $ 47,555
Schedule of Condensed Cash Flow Statement	Statements of Cash Flows Year Ended December 31, (Dollars in thousands) 2023 2022 2021 Operating activities Net income $ 113,363 $ 101,292 $ 47,555 Adjustments to reconcile net income to cash provided by operations: Depreciation, amortization and accretion, net — 138 6,224 Equity in undistributed earnings of subsidiaries (75,887) (54,076) (22,782) Gain on investment securities — — — Other, net (6,757) 5,008 3,930 Net cash provided by operating activities 30,719 52,362 34,927 Investing activities Net proceeds from sales and maturities of investment securities — — 10 Investment in subsidiaries (39,414) (13,084) (16,282) Decrease in receivable from subsidiary 40,086 12,279 16,344 Business combinations, net of cash received 27,763 (1,239) (710) Other, net (1,636) (262) (1,998) Net cash used in investing activities 26,799 (2,306) (2,636) Financing activities Purchase of treasury stock (4,799) (9,152) (1,306) Proceeds from issuance of common shares 1,264 1,226 906 Cash dividends paid (51,845) (42,371) (31,002) Net cash used in financing activities (55,380) (50,297) (31,402) Net increase (decrease) in cash and cash equivalents 2,138 (241) 889 Cash and cash equivalents at the beginning of year 15,011 15,252 14,363 Cash and cash equivalents at the end of year $ 17,149 $ 15,011 $ 15,252 Supplemental cash flow information: Interest paid $ 676 $ 663 $ 331

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) segment revenue_stream	Dec. 31, 2022 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable operating segment | segment	1
Restricted cash	$ 0	$ 0
Number of similar segments in determining allowance for credit losses | segment	20
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	13,100,000	15,100,000
Other real estate owned (“OREO”)	$ 7,200,000	$ 8,900,000
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 - Assets Measured at Fair Value Recurring (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Assets:
Fair Value	[1]	$ 1,048,322	$ 1,131,399
U.S. Treasury and government agencies
Assets:
Fair Value		30,296	152,422
U.S. government sponsored agencies
Assets:
Fair Value		118,607	88,115
States and political subdivisions
Assets:
Fair Value		213,296	225,882
Residential mortgage-backed securities
Assets:
Fair Value		628,924	604,653
Commercial mortgage-backed securities
Assets:
Fair Value		51,234	50,049
Bank-issued trust preferred securities
Assets:
Fair Value		5,965	10,278
Recurring | Level 1
Assets:
Fair Value		30,296	152,422
Equity investment securities		191	147
Derivative asset		0	0
Liabilities:
Derivative liabilities		0	0
Recurring | Level 2
Assets:
Fair Value		1,018,026	978,977
Equity investment securities		237	199
Derivative asset		22,304	34,123
Liabilities:
Derivative liabilities		$ 19,122	$ 28,529
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 | U.S. Treasury and government agencies | Level 1
Assets:
Fair Value		$ 30,296	$ 152,422
Recurring | U.S. Treasury and government agencies | Level 2
Assets:
Fair Value		0	0
Recurring | U.S. government sponsored agencies | Level 1
Assets:
Fair Value		0	0
Recurring | U.S. government sponsored agencies | Level 2
Assets:
Fair Value		118,607	88,115
Recurring | States and political subdivisions | Level 1
Assets:
Fair Value		0	0
Recurring | States and political subdivisions | Level 2
Assets:
Fair Value		213,296	225,882
Recurring | Residential mortgage-backed securities | Level 1
Assets:
Fair Value		0	0
Recurring | Residential mortgage-backed securities | Level 2
Assets:
Fair Value		628,924	604,653
Recurring | Commercial mortgage-backed securities | Level 1
Assets:
Fair Value		0	0
Recurring | Commercial mortgage-backed securities | Level 2
Assets:
Fair Value		51,234	50,049
Recurring | Bank-issued trust preferred securities | Level 1
Assets:
Fair Value		0	0
Recurring | Bank-issued trust preferred securities | Level 2
Assets:
Fair Value		$ 5,965	$ 10,278
[1] Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $238, respectively, at December 31, 2023 and $0 and $241, respectively, at December 31, 2022.

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Assets Measured at Fair Value Nonrecurring (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Nonrecurring Basis
Other real estate owned (“OREO”)	$ 7,200	$ 8,900
Allowance for credit loss	62,011	53,162	$ 63,967
Nonrecurring Basis | Level 2
Nonrecurring Basis
Loans held for sale	1,663	1,254
Other real estate owned (“OREO”)	0	0
Allowance for credit loss	163	105
Nonrecurring Basis | Level 2 | Collateral dependent loans
Nonrecurring Basis
Collateral dependent loans	0	0
Nonrecurring Basis | Level 3
Nonrecurring Basis
Loans held for sale	0	0
Other real estate owned (“OREO”)	7,118	55
Nonrecurring Basis | Level 3 | Collateral dependent loans
Nonrecurring Basis
Collateral dependent loans	$ 501	$ 10,354

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Fair Values of Financial Assets and Liabilities on Balance Sheets (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets:
Carrying Amount		$ 683,895	$ 560,453
Fair Value		612,022	478,509
Loans and leases, net of deferred fees and costs	[1]	6,159,196	4,707,150
Financial liabilities:
Debt securities held to maturity, allowance for credit loss		238	241
Allowance for credit loss		62,011	53,162	$ 63,967
Carrying Amount
Assets:
Carrying Amount		683,895	560,453
Federal Home Loan Bank (“FHLB”) stock		29,949	26,605
Federal Reserve Bank (“FRB”) stock		26,896	21,231
Total other investment securities at cost		56,845	47,836
Total other investment securities at fair value		62,992	51,263
Carrying Amount | Level 1
Assets:
Cash and cash equivalents		426,722	154,022
Carrying Amount | Level 2
Assets:
Bank owned life insurance		140,554	105,292
Financial liabilities:
Deposits		7,152,297	5,716,941
Short-term borrowings		601,121	500,138
Long-term borrowings		216,241	101,093
Carrying Amount | Level 3
Assets:
Loans and leases, net of deferred fees and costs		6,159,196	4,707,150
Fair Value
Assets:
Fair Value		612,022	478,509
Federal Home Loan Bank (“FHLB”) stock		29,949	26,605
Federal Reserve Bank (“FRB”) stock		26,896	21,231
Total other investment securities at cost		56,845	47,836
Total other investment securities at fair value		62,992	51,263
Fair Value | Level 1
Assets:
Cash and cash equivalents		426,722	154,022
Fair Value | Level 2
Assets:
Bank owned life insurance		140,554	105,292
Financial liabilities:
Deposits		6,319,885	4,682,491
Short-term borrowings		619,999	504,584
Long-term borrowings		222,743	101,992
Fair Value | Level 3
Assets:
Loans and leases, net of deferred fees and costs, fair value		6,064,999	4,516,695
U.S. government sponsored agencies
Assets:
Carrying Amount		188,475	132,366
Fair Value		180,825	123,020
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		188,475	132,366
U.S. government sponsored agencies | Fair Value | Level 2
Assets:
Fair Value		180,825	123,020
States and political subdivisions
Assets:
Carrying Amount		144,496	145,263
Fair Value		114,288	108,776
Financial liabilities:
Debt securities held to maturity, allowance for credit loss		238	241
States and political subdivisions | Carrying Amount | Level 2
Assets:
Carrying Amount		144,496	145,263
States and political subdivisions | Fair Value | Level 2
Assets:
Fair Value		114,288	108,776
Residential mortgage-backed securities
Assets:
Carrying Amount		248,559	176,215
Fair Value		231,620	157,998
Financial liabilities:
Debt securities held to maturity, allowance for credit loss		0	0
Residential mortgage-backed securities | Carrying Amount | Level 2
Assets:
Carrying Amount		248,559	176,215
Residential mortgage-backed securities | Fair Value | Level 2
Assets:
Fair Value		231,620	157,998
Commercial mortgage-backed securities
Assets:
Carrying Amount		102,365	106,609
Fair Value		85,289	88,715
Financial liabilities:
Debt securities held to maturity, allowance for credit loss		0	0
Commercial mortgage-backed securities | Carrying Amount | Level 2
Assets:
Carrying Amount		102,365	101,861
Commercial mortgage-backed securities | Carrying Amount | Level 3
Assets:
Carrying Amount		0	4,748
Commercial mortgage-backed securities | Fair Value | Level 2
Assets:
Fair Value		85,289	85,354
Commercial mortgage-backed securities | Fair Value | Level 3
Assets:
Fair Value		0	3,361
Nonqualified Plan | Carrying Amount | Level 1
Assets:
Total other investment securities at fair value		3,162	2,048
Nonqualified Plan | Fair Value | Level 1
Assets:
Total other investment securities at fair value		3,162	2,048
Other investment securities | Carrying Amount | Level 2
Assets:
Total other investment securities at fair value		2,985	1,379
Other investment securities | Fair Value | Level 2
Assets:
Total other investment securities at fair value		$ 2,985	$ 1,379
[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, 2023	Dec. 31, 2022
Schedule of Available-for-sale Securities
Amortized cost		$ 1,184,288	$ 1,300,719
Gross Unrealized Gains		3,240	1,104
Gross Unrealized Losses		(139,206)	(170,424)
Fair Value	[1]	1,048,322	1,131,399
U.S. Treasury and government agencies
Schedule of Available-for-sale Securities
Amortized cost		30,999	158,473
Gross Unrealized Gains		292	0
Gross Unrealized Losses		(995)	(6,051)
Fair Value		30,296	152,422
U.S. government sponsored agencies
Schedule of Available-for-sale Securities
Amortized cost		128,500	101,753
Gross Unrealized Gains		639	18
Gross Unrealized Losses		(10,532)	(13,656)
Fair Value		118,607	88,115
States and political subdivisions
Schedule of Available-for-sale Securities
Amortized cost		239,906	261,612
Gross Unrealized Gains		485	12
Gross Unrealized Losses		(27,095)	(35,742)
Fair Value		213,296	225,882
Residential mortgage-backed securities
Schedule of Available-for-sale Securities
Amortized cost		717,772	707,025
Gross Unrealized Gains		1,819	1,017
Gross Unrealized Losses		(90,667)	(103,389)
Fair Value		628,924	604,653
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities
Amortized cost		60,611	61,091
Gross Unrealized Gains		5	0
Gross Unrealized Losses		(9,382)	(11,042)
Fair Value		51,234	50,049
Bank-issued trust preferred securities
Schedule of Available-for-sale Securities
Amortized cost		6,500	10,765
Gross Unrealized Gains		0	57
Gross Unrealized Losses		(535)	(544)
Fair Value		$ 5,965	$ 10,278
[1] Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $238, respectively, at December 31, 2023 and $0 and $241, respectively, at December 31, 2022.

Investment Securities - Avail_2

Investment Securities - Available-for-sale Securities Gross Realized Gains and Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Gross gains realized	$ 1,550	$ 314	$ 1,184
Gross losses realized	5,250	375	2,046
Net loss realized	$ (3,700)	$ (61)	$ (862)

Investment Securities - Avail_3

Investment Securities - Available-for-sale Securities with Unrealized Loss (Details) $ in Thousands	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	$ 107,930	$ 299,453
Less than 12 months, unrealized loss	$ 1,532	$ 12,051
Less than 12 months, Number of securities | security	132	254
12 months or more, fair value	$ 831,720	$ 803,481
12 months or more, unrealized loss	$ 137,674	$ 158,373
12 months or more, Number of securities | security	420	308
Total fair value	$ 939,650	$ 1,102,934
Total unrealized loss	139,206	170,424
U.S. Treasury and government agencies
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	8,568	112,730
Less than 12 months, unrealized loss	$ 83	$ 2,772
Less than 12 months, Number of securities | security	22	13
12 months or more, fair value	$ 11,631	$ 39,692
12 months or more, unrealized loss	$ 912	$ 3,279
12 months or more, Number of securities | security	5	11
Total fair value	$ 20,199	$ 152,422
Total unrealized loss	995	6,051
U.S. government sponsored agencies
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	14,439	15,166
Less than 12 months, unrealized loss	$ 35	$ 249
Less than 12 months, Number of securities | security	4	17
12 months or more, fair value	$ 74,211	$ 66,706
12 months or more, unrealized loss	$ 10,497	$ 13,407
12 months or more, Number of securities | security	15	18
Total fair value	$ 88,650	$ 81,872
Total unrealized loss	10,532	13,656
States and political subdivisions
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	18,268	60,324
Less than 12 months, unrealized loss	$ 136	$ 714
Less than 12 months, Number of securities | security	32	114
12 months or more, fair value	$ 167,346	$ 156,900
12 months or more, unrealized loss	$ 26,959	$ 35,028
12 months or more, Number of securities | security	138	117
Total fair value	$ 185,614	$ 217,224
Total unrealized loss	27,095	35,742
Residential mortgage-backed securities
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	58,671	104,959
Less than 12 months, unrealized loss	$ 1,150	$ 8,087
Less than 12 months, Number of securities | security	66	105
12 months or more, fair value	$ 529,895	$ 488,452
12 months or more, unrealized loss	$ 89,517	$ 95,302
12 months or more, Number of securities | security	238	139
Total fair value	$ 588,566	$ 593,411
Total unrealized loss	90,667	103,389
Commercial mortgage-backed securities
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	6,000	1,874
Less than 12 months, unrealized loss	$ 112	$ 129
Less than 12 months, Number of securities | security	7	2
12 months or more, fair value	$ 44,656	$ 48,175
12 months or more, unrealized loss	$ 9,270	$ 10,913
12 months or more, Number of securities | security	21	21
Total fair value	$ 50,656	$ 50,049
Total unrealized loss	9,382	11,042
Bank-issued trust preferred securities
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	1,984	4,400
Less than 12 months, unrealized loss	$ 16	$ 100
Less than 12 months, Number of securities | security	1	3
12 months or more, fair value	$ 3,981	$ 3,556
12 months or more, unrealized loss	$ 519	$ 444
12 months or more, Number of securities | security	3	2
Total fair value	$ 5,965	$ 7,956
Total unrealized loss	$ 535	$ 544

Investment Securities - Narrati

Investment Securities - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) 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	420	308
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	21,200,000	2,600,000
Purchase of FHLB stock	18,900,000	11,900,000
Purchase of FRB stock	5,700,000	7,900,000
Unrealized loss	$ 141,000
Unrealized gain		$ 2,000
Bank-issued trust preferred securities
Schedule of Available-for-sale Securities
12 months or more, Number of securities | security	3	2
Investment Securities
Schedule of Available-for-sale Securities
Interest receivable	$ 8,800,000	$ 7,800,000

Investment Securities - Avail_4

Investment Securities - Available-for-sale Securities by Maturities (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Schedule of Available-for-sale Securities
Debt securities, maturing within 1 year, amortized cost		$ 14,827
Debt securities, maturing 1 to 5 years, amortized cost		139,634
Debt securities, maturing 5 to 10 years, amortized cost		194,944
Debt securities, maturing over 10 years, amortized cost		834,883
Amortized cost		1,184,288	$ 1,300,719
Debt securities, maturing within 1 year, fair value		14,754
Debt securities, maturing 1 to 5 years, fair value		130,647
Debt securities, maturing 5 to 10 years, fair value		172,403
Debt securities, maturing over 10 years, fair value		730,518
Debt securities	[1]	$ 1,048,322	1,131,399
Available-for-sale securities, maturing within 1 year, weighted average yield		2.30%
Available-for-sale securities, maturing 1 to 5 years, weighted average yield		2.58%
Available-for-sale securities, maturing 5 to 10 years, weighted average yield		2.42%
Available-for-sale securities, total weighted average yield		2.59%
Available-for-sale securities, total weighted average yield		2.56%
U.S. Treasury and government agencies
Schedule of Available-for-sale Securities
Debt securities, maturing within 1 year, amortized cost		$ 1,283
Debt securities, maturing 1 to 5 years, amortized cost		15,302
Debt securities, maturing 5 to 10 years, amortized cost		8,403
Debt securities, maturing over 10 years, amortized cost		6,011
Amortized cost		30,999	158,473
Debt securities, maturing within 1 year, fair value		1,275
Debt securities, maturing 1 to 5 years, fair value		14,354
Debt securities, maturing 5 to 10 years, fair value		8,493
Debt securities, maturing over 10 years, fair value		6,174
Debt securities		30,296	152,422
U.S. government sponsored agencies
Schedule of Available-for-sale Securities
Debt securities, maturing within 1 year, amortized cost		2,499
Debt securities, maturing 1 to 5 years, amortized cost		59,086
Debt securities, maturing 5 to 10 years, amortized cost		34,849
Debt securities, maturing over 10 years, amortized cost		32,066
Amortized cost		128,500	101,753
Debt securities, maturing within 1 year, fair value		2,486
Debt securities, maturing 1 to 5 years, fair value		54,898
Debt securities, maturing 5 to 10 years, fair value		30,426
Debt securities, maturing over 10 years, fair value		30,797
Debt securities		118,607	88,115
States and political subdivisions
Schedule of Available-for-sale Securities
Debt securities, maturing within 1 year, amortized cost		11,042
Debt securities, maturing 1 to 5 years, amortized cost		46,054
Debt securities, maturing 5 to 10 years, amortized cost		59,932
Debt securities, maturing over 10 years, amortized cost		122,878
Amortized cost		239,906	261,612
Debt securities, maturing within 1 year, fair value		10,990
Debt securities, maturing 1 to 5 years, fair value		43,535
Debt securities, maturing 5 to 10 years, fair value		51,294
Debt securities, maturing over 10 years, fair value		107,477
Debt securities		213,296	225,882
Residential mortgage-backed securities
Schedule of Available-for-sale Securities
Debt securities, maturing within 1 year, amortized cost		3
Debt securities, maturing 1 to 5 years, amortized cost		3,690
Debt securities, maturing 5 to 10 years, amortized cost		61,069
Debt securities, maturing over 10 years, amortized cost		653,010
Amortized cost		717,772	707,025
Debt securities, maturing within 1 year, fair value		3
Debt securities, maturing 1 to 5 years, fair value		3,570
Debt securities, maturing 5 to 10 years, fair value		56,084
Debt securities, maturing over 10 years, fair value		569,267
Debt securities		628,924	604,653
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities
Debt securities, maturing within 1 year, amortized cost		0
Debt securities, maturing 1 to 5 years, amortized cost		12,502
Debt securities, maturing 5 to 10 years, amortized cost		27,191
Debt securities, maturing over 10 years, amortized cost		20,918
Amortized cost		60,611	61,091
Debt securities, maturing within 1 year, fair value		0
Debt securities, maturing 1 to 5 years, fair value		11,370
Debt securities, maturing 5 to 10 years, fair value		23,061
Debt securities, maturing over 10 years, fair value		16,803
Debt securities		51,234	50,049
Bank-issued trust preferred securities
Schedule of Available-for-sale Securities
Debt securities, maturing within 1 year, amortized cost		0
Debt securities, maturing 1 to 5 years, amortized cost		3,000
Debt securities, maturing 5 to 10 years, amortized cost		3,500
Debt securities, maturing over 10 years, amortized cost		0
Amortized cost		6,500	10,765
Debt securities, maturing within 1 year, fair value		0
Debt securities, maturing 1 to 5 years, fair value		2,920
Debt securities, maturing 5 to 10 years, fair value		3,045
Debt securities, maturing over 10 years, fair value		0
Debt securities		$ 5,965	$ 10,278
[1] Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $238, respectively, at December 31, 2023 and $0 and $241, respectively, at December 31, 2022.

Investment Securities - Held-to

Investment Securities - Held-to-maturity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 683,895	$ 560,453
Allowance for Credit Losses	(238)	(241)
Gross Unrealized Gains	2,266	536
Gross Unrealized Losses	(73,901)	(82,239)
Fair Value	612,022	478,509
U.S. government sponsored agencies
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	188,475	132,366
Allowance for Credit Losses	0	0
Gross Unrealized Gains	489	130
Gross Unrealized Losses	(8,139)	(9,476)
Fair Value	180,825	123,020
States and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	144,496	145,263
Allowance for Credit Losses	(238)	(241)
Gross Unrealized Gains	134	162
Gross Unrealized Losses	(30,104)	(36,408)
Fair Value	114,288	108,776
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	248,559	176,215
Allowance for Credit Losses	0	0
Gross Unrealized Gains	1,643	244
Gross Unrealized Losses	(18,582)	(18,461)
Fair Value	231,620	157,998
Commercial mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	102,365	106,609
Allowance for Credit Losses	0	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(17,076)	(17,894)
Fair Value	$ 85,289	$ 88,715

Investment Securities - Held-_2

Investment Securities - Held-to-maturity Securities with Unrealized Loss (Details) $ in Thousands	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	$ 122,785	$ 161,946
Less than 12 months, unrealized loss	$ 3,306	$ 5,277
Less than 12 months, no. of securities | security	34	49
12 months or more, fair value	$ 386,135	$ 265,877
12 months or more, unrealized loss	$ 70,595	$ 76,962
12 months or more, no. of securities | security	150	120
Total fair value	$ 508,920	$ 427,823
Total unrealized loss	73,901	82,239
U.S. government sponsored agencies
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	64,487	59,905
Less than 12 months, unrealized loss	$ 356	$ 651
Less than 12 months, no. of securities | security	14	17
12 months or more, fair value	$ 86,071	$ 29,306
12 months or more, unrealized loss	$ 7,783	$ 8,825
12 months or more, no. of securities | security	18	9
Total fair value	$ 150,558	$ 89,211
Total unrealized loss	8,139	9,476
States and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	0	3,590
Less than 12 months, unrealized loss	$ 0	$ 1,072
Less than 12 months, no. of securities | security	0	3
12 months or more, fair value	$ 111,040	$ 101,863
12 months or more, unrealized loss	$ 30,104	$ 35,336
12 months or more, no. of securities | security	67	64
Total fair value	$ 111,040	$ 105,453
Total unrealized loss	30,104	36,408
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	44,379	71,582
Less than 12 months, unrealized loss	$ 1,105	$ 2,904
Less than 12 months, no. of securities | security	14	21
12 months or more, fair value	$ 117,654	$ 72,862
12 months or more, unrealized loss	$ 17,477	$ 15,557
12 months or more, no. of securities | security	34	18
Total fair value	$ 162,033	$ 144,444
Total unrealized loss	18,582	18,461
Commercial mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	13,919	26,869
Less than 12 months, unrealized loss	$ 1,845	$ 650
Less than 12 months, no. of securities | security	6	8
12 months or more, fair value	$ 71,370	$ 61,846
12 months or more, unrealized loss	$ 15,231	$ 17,244
12 months or more, no. of securities | security	31	29
Total fair value	$ 85,289	$ 88,715
Total unrealized loss	$ 17,076	$ 17,894

Investment Securities - Held-_3

Investment Securities - Held-to-maturity Securities by Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, maturing within 1 year, amortized cost	$ 9,546
Debt securities, maturing 1 to 5 years, amortized cost	29,532
Debt securities, maturing 5 to 10 years, amortized cost	123,319
Debt securities, maturing over 10 years, amortized cost	521,498
Amortized cost	683,895	$ 560,453
Debt securities, maturing within 1 year, fair value	9,459
Debt securities, maturing 1 to 5 years, fair value	27,569
Debt securities, maturing 5 to 10 years, fair value	115,162
Debt securities, maturing over 10 years, fair value	459,832
Fair Value	$ 612,022	478,509
Held-to-maturity securities, maturing within 1 year, weighted average yield	3.81%
Held-to-maturity securities, maturing 1 to 5 years, weighted average yield	2.87%
Held-to-maturity securities, maturing 6 to 10 years, weighted average yield	3.98%
Held-to-maturity securities, maturing over 10 years, weighted average yield	3.55%
Held-to-maturity securities, total weighted average yield	3.60%
U.S. government sponsored agencies
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, maturing within 1 year, amortized cost	$ 8,000
Debt securities, maturing 1 to 5 years, amortized cost	13,152
Debt securities, maturing 5 to 10 years, amortized cost	67,043
Debt securities, maturing over 10 years, amortized cost	100,280
Amortized cost	188,475	132,366
Debt securities, maturing within 1 year, fair value	7,931
Debt securities, maturing 1 to 5 years, fair value	12,640
Debt securities, maturing 5 to 10 years, fair value	66,717
Debt securities, maturing over 10 years, fair value	93,537
Fair Value	180,825	123,020
States and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, maturing within 1 year, amortized cost	0
Debt securities, maturing 1 to 5 years, amortized cost	6,421
Debt securities, maturing 5 to 10 years, amortized cost	11,434
Debt securities, maturing over 10 years, amortized cost	126,641
Amortized cost	144,496	145,263
Debt securities, maturing within 1 year, fair value	0
Debt securities, maturing 1 to 5 years, fair value	6,343
Debt securities, maturing 5 to 10 years, fair value	9,875
Debt securities, maturing over 10 years, fair value	98,070
Fair Value	114,288	108,776
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, maturing within 1 year, amortized cost	0
Debt securities, maturing 1 to 5 years, amortized cost	540
Debt securities, maturing 5 to 10 years, amortized cost	4,347
Debt securities, maturing over 10 years, amortized cost	243,672
Amortized cost	248,559	176,215
Debt securities, maturing within 1 year, fair value	0
Debt securities, maturing 1 to 5 years, fair value	528
Debt securities, maturing 5 to 10 years, fair value	3,818
Debt securities, maturing over 10 years, fair value	227,274
Fair Value	231,620	157,998
Commercial mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, maturing within 1 year, amortized cost	1,546
Debt securities, maturing 1 to 5 years, amortized cost	9,419
Debt securities, maturing 5 to 10 years, amortized cost	40,495
Debt securities, maturing over 10 years, amortized cost	50,905
Amortized cost	102,365	106,609
Debt securities, maturing within 1 year, fair value	1,528
Debt securities, maturing 1 to 5 years, fair value	8,058
Debt securities, maturing 5 to 10 years, fair value	34,752
Debt securities, maturing over 10 years, fair value	40,951
Fair Value	$ 85,289	$ 88,715

Investment Securities - Other I

Investment Securities - Other Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Investments Carrying Value [Line Items]
Total other investment securities	$ 63,421	$ 51,609
Carrying Amount
Other Investments Carrying Value [Line Items]
FHLB stock	29,949	26,605
FRB stock	26,896	21,231
Nonqualified deferred compensation	3,162	2,048
Equity investment securities	429	346
Other investment securities	$ 2,985	$ 1,379

Investment Securities - Pledged

Investment Securities - Pledged Securities (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Held-to-maturity	[1]	$ 683,657	$ 560,212
Asset Pledged as Collateral | Securing public and trust department deposits, and Repurchase Agreements:
Debt Securities, Available-for-sale [Line Items]
Available-for-sale		713,033	779,244
Held-to-maturity		559,142	312,921
Asset Pledged as Collateral | Securing additional borrowing capacity at the FHLB and the FRB:
Debt Securities, Available-for-sale [Line Items]
Available-for-sale		85,899	3,972
Held-to-maturity		$ 39,607	$ 128,870
[1] Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $238, respectively, at December 31, 2023 and $0 and $241, respectively, at December 31, 2022.

Loans and Leases - Loan Balance

Loans and Leases - Loan Balances By Classification (Details) - USD ($) $ in Thousands		Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	[1]	$ 6,159,196	$ 4,707,150
Deferred loan costs		21,700	20,500
Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		6,159,196	4,707,150
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		364,019	246,941
Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		2,196,957	1,423,518
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,184,986	892,634
Premium finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		203,177	159,197
Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		414,060	345,131
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		791,095	723,360
Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		208,675	177,858
Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		666,472	629,426
Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		128,769	108,363
Deposit account overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		$ 986	$ 722
[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)			12 Months Ended
		Mar. 07, 2022 USD ($)	Dec. 31, 2023 USD ($) relationship	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Percent of loans considered current			98.60%	98.60%
Individual review of impairment of unpaid principal balances in excess of			$ 1,000,000
Aggregate credit exposure threshold			$ 1,000,000
Number of large relationships paid in full during year | relationship			3
Additional commitments to lend funds to debtors whose terms have been modified in a TDR			$ 0
Allowance for credit loss, percent of outstanding			1.01%	1.13%
Credit loss, liability			$ 1,800,000	$ 2,000,000
Net charge-off	[1]		15,174,000	(3,510,000)	$ 731,000
Limestone Merger
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase in allowance for credit loss for acquired purchased credit deteriorated assets			8,100,000
Increase in allowance for credit loss on loans purchased with credit deterioration				2,100,000
Premier Financial Bancorp, Inc.
Financing Receivable, Allowance for Credit Loss [Line Items]
Decrease in allowance for credit loss on loans purchased with credit deterioration				1,400,000
Vantage Financial LLC
Financing Receivable, Allowance for Credit Loss [Line Items]
Increase in allowance for credit loss on loans purchased with credit deterioration		$ 801,000		800,000
90 + Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Interest income			800,000	1,700,000
Collateral Pledged
Financing Receivable, Allowance for Credit Loss [Line Items]
Individual review of impairment of unpaid principal balances in excess of			501,000	10,354,000
Loans Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Interest receivable			24,500,000	15,400,000
Unfunded Loan Commitment
Financing Receivable, Allowance for Credit Loss [Line Items]
Net charge-off			$ 200,000	$ 600,000
[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.

Loans and Leases - Nonaccrual a

Loans and Leases - Nonaccrual and Past Due Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	$ 25,477	$ 31,473
Accruing Loans 90+ Days Past Due	6,716	4,842
Financing receivable, nonaccrual, no allowance	1,200	1,400
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	0	12
Accruing Loans 90+ Days Past Due	0	0
Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	2,816	12,121
Accruing Loans 90+ Days Past Due	78	167
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	2,758	3,462
Accruing Loans 90+ Days Past Due	316	130
Premium finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	0	0
Accruing Loans 90+ Days Past Due	1,355	504
Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	8,436	3,178
Accruing Loans 90+ Days Past Due	3,826	3,041
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	7,921	9,496
Accruing Loans 90+ Days Past Due	877	917
Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	1,022	820
Accruing Loans 90+ Days Past Due	171	58
Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	2,412	2,176
Accruing Loans 90+ Days Past Due	68	0
Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	112	208
Accruing Loans 90+ Days Past Due	$ 25	$ 25

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, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	[1]	$ 6,159,196	$ 4,707,150
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		364,019	246,941
Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		2,196,957	1,423,518
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,184,986	892,634
Premium finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		203,177	159,197
Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		414,060	345,131
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		791,095	723,360
Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		208,675	177,858
Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		666,472	629,426
Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		128,769	108,363
Deposit account overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		986	722
Total
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		83,679	64,669
Total | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		65	366
Total | Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		8,856	13,700
Total | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		6,260	6,260
Total | Premium finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		3,510	1,966
Total | Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		29,689	14,213
Total | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		21,235	17,760
Total | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		2,935	1,688
Total | Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		10,268	7,835
Total | Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		861	881
Total | Deposit account overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		0	0
30 – 59 days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		42,095	29,386
30 – 59 days | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		13	196
30 – 59 days | Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		2,728	2,279
30 – 59 days | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,717	2,522
30 – 59 days | Premium finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,288	646
30 – 59 days | Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		12,743	6,074
30 – 59 days | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		14,021	10,113
30 – 59 days | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,561	987
30 – 59 days | Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		7,488	5,866
30 – 59 days | Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		536	703
30 – 59 days | Deposit account overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		0	0
60 – 89 days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		17,154	7,633
60 – 89 days | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		52	161
60 – 89 days | Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		4,556	1,051
60 – 89 days | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,491	289
60 – 89 days | Premium finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		867	816
60 – 89 days | Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		4,932	1,921
60 – 89 days | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		2,733	2,128
60 – 89 days | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		691	149
60 – 89 days | Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,550	1,048
60 – 89 days | Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		282	70
60 – 89 days | Deposit account overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		0	0
90 + Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		24,430	27,650
90 + Days | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		0	9
90 + Days | Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,572	10,370
90 + Days | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		3,052	3,449
90 + Days | Premium finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,355	504
90 + Days | Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		12,014	6,218
90 + Days | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		4,481	5,519
90 + Days | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		683	552
90 + Days | Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,230	921
90 + Days | Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		43	108
90 + Days | Deposit account overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		0	0
Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		6,075,517	4,642,481
Current | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		363,954	246,575
Current | Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		2,188,101	1,409,818
Current | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,178,726	886,374
Current | Premium finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		199,667	157,231
Current | Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		384,371	330,918
Current | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		769,860	705,600
Current | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		205,740	176,170
Current | Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		656,204	621,591
Current | Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		127,908	107,482
Current | Deposit account overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		$ 986	$ 722
[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, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases	[1]	$ 6,159,196	$ 4,707,150
Loans pledged to FHLB
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		791,095	723,360
Loans pledged to FHLB | Asset Pledged as Collateral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,206,134	783,843
Loans pledged to FRB
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		1,184,986	892,634
Loans pledged to FRB | Asset Pledged as Collateral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and leases		$ 419,245	$ 339,005
[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, 2023 USD ($) director
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance, December 31, 2022	$ 27,372
Acquired loans	18,892
New loans and disbursements	466
Repayments	(215)
No longer related party	(26,696)
Other changes	347
Balance, December 31, 2023	$ 20,166
Number of directors exited and no longer related parties | director	2

Loans and Leases - Loans By Ris

Loans and Leases - Loans By Risk Category (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		$ 1,352,734	$ 1,255,907
Originated one year before fiscal year		1,206,325	960,198
Originated two years before fiscal year		1,025,875	576,884
Originated three years before fiscal year		536,750	423,955
Originated four years before fiscal year		430,610	230,800
Prior		1,336,994	991,453
Revolving Loans		269,908	267,953
Revolving Loans Converted to Term		11,007	11,917
Total Loans	[1]	6,159,196	4,707,150
Total Loans, charge-offs		11,480	8,755
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		81,473	82,143
Originated one year before fiscal year		146,592	110,721
Originated two years before fiscal year		85,913	27,893
Originated three years before fiscal year		27,169	20,223
Originated four years before fiscal year		9,995	656
Prior		12,877	5,261
Revolving Loans		0	44
Revolving Loans Converted to Term		0	81
Total Loans		364,019	246,941
Originated fiscal year, charge-offs		0
Originated one year before fiscal year, charge-offs		0
Originated two years before fiscal year, charge-offs		9
Originated three years before fiscal year, charge-offs		0
Originated four years before fiscal year, charge-offs		0
Prior, charge-offs		0
Total Loans, charge-offs		9	16
Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		200,851	165,282
Originated one year before fiscal year		343,158	233,243
Originated two years before fiscal year		377,480	231,489
Originated three years before fiscal year		246,607	209,762
Originated four years before fiscal year		271,145	114,971
Prior		719,674	441,150
Revolving Loans		38,042	27,621
Revolving Loans Converted to Term		230	5,407
Total Loans		2,196,957	1,423,518
Originated fiscal year, charge-offs		0
Originated one year before fiscal year, charge-offs		0
Originated two years before fiscal year, charge-offs		0
Originated three years before fiscal year, charge-offs		39
Originated four years before fiscal year, charge-offs		0
Prior, charge-offs		575
Total Loans, charge-offs		614	489
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		226,512	178,269
Originated one year before fiscal year		198,560	167,397
Originated two years before fiscal year		218,575	87,913
Originated three years before fiscal year		102,274	76,618
Originated four years before fiscal year		61,758	41,924
Prior		145,468	100,559
Revolving Loans		231,839	239,954
Revolving Loans Converted to Term		9,431	4,333
Total Loans		1,184,986	892,634
Originated fiscal year, charge-offs		0
Originated one year before fiscal year, charge-offs		36
Originated two years before fiscal year, charge-offs		202
Originated three years before fiscal year, charge-offs		25
Originated four years before fiscal year, charge-offs		173
Prior, charge-offs		415
Total Loans, charge-offs		851	943
Premium finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		201,659	158,778
Originated one year before fiscal year		1,517	419
Originated two years before fiscal year		1	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		203,177	159,197
Originated fiscal year, charge-offs		25
Originated one year before fiscal year, charge-offs		97
Originated two years before fiscal year, charge-offs		0
Originated three years before fiscal year, charge-offs		0
Originated four years before fiscal year, charge-offs		0
Prior, charge-offs		0
Total Loans, charge-offs		122	124
Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		218,859	193,435
Originated one year before fiscal year		118,862	95,055
Originated two years before fiscal year		54,727	35,338
Originated three years before fiscal year		14,590	16,437
Originated four years before fiscal year		5,205	3,747
Prior		1,817	1,119
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		414,060	345,131
Originated fiscal year, charge-offs		963
Originated one year before fiscal year, charge-offs		1,328
Originated two years before fiscal year, charge-offs		1,173
Originated three years before fiscal year, charge-offs		233
Originated four years before fiscal year, charge-offs		165
Prior, charge-offs		135
Total Loans, charge-offs		3,997	2,585
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		76,000	78,313
Originated one year before fiscal year		91,749	138,860
Originated two years before fiscal year		140,742	59,006
Originated three years before fiscal year		58,326	43,409
Originated four years before fiscal year		46,036	28,737
Prior		378,242	375,035
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		791,095	723,360
Originated fiscal year, charge-offs		0
Originated one year before fiscal year, charge-offs		0
Originated two years before fiscal year, charge-offs		0
Originated three years before fiscal year, charge-offs		0
Originated four years before fiscal year, charge-offs		0
Prior, charge-offs		170
Total Loans, charge-offs		170	668
Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		39,725	41,781
Originated one year before fiscal year		42,565	35,828
Originated two years before fiscal year		33,467	19,863
Originated three years before fiscal year		19,872	14,873
Originated four years before fiscal year		14,420	13,926
Prior		58,599	51,253
Revolving Loans		27	334
Revolving Loans Converted to Term		1,346	2,096
Total Loans		208,675	177,858
Originated fiscal year, charge-offs		0
Originated one year before fiscal year, charge-offs		0
Originated two years before fiscal year, charge-offs		0
Originated three years before fiscal year, charge-offs		0
Originated four years before fiscal year, charge-offs		0
Prior, charge-offs		110
Total Loans, charge-offs		110	88
Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		248,169	306,198
Originated one year before fiscal year		226,193	150,261
Originated two years before fiscal year		97,489	100,686
Originated three years before fiscal year		59,602	36,254
Originated four years before fiscal year		18,836	23,093
Prior		16,183	12,934
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		666,472	629,426
Originated fiscal year, charge-offs		609
Originated one year before fiscal year, charge-offs		2,091
Originated two years before fiscal year, charge-offs		865
Originated three years before fiscal year, charge-offs		255
Originated four years before fiscal year, charge-offs		63
Prior, charge-offs		147
Total Loans, charge-offs		4,030	2,233
Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		58,500	50,986
Originated one year before fiscal year		37,129	28,414
Originated two years before fiscal year		17,481	14,696
Originated three years before fiscal year		8,310	6,379
Originated four years before fiscal year		3,215	3,746
Prior		4,134	4,142
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		128,769	108,363
Originated fiscal year, charge-offs		36
Originated one year before fiscal year, charge-offs		154
Originated two years before fiscal year, charge-offs		77
Originated three years before fiscal year, charge-offs		100
Originated four years before fiscal year, charge-offs		14
Prior, charge-offs		35
Total Loans, charge-offs		416	363
Deposit account overdrafts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		986	722
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		986	722
Originated fiscal year, charge-offs		1,161
Originated one year before fiscal year, charge-offs
Originated two years before fiscal year, charge-offs
Originated three years before fiscal year, charge-offs
Originated four years before fiscal year, charge-offs
Prior, charge-offs
Total Loans, charge-offs		1,161	1,246
Pass | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		80,273	82,143
Originated one year before fiscal year		141,245	110,719
Originated two years before fiscal year		85,913	27,893
Originated three years before fiscal year		27,169	20,223
Originated four years before fiscal year		9,995	656
Prior		12,723	4,061
Revolving Loans		0	44
Revolving Loans Converted to Term		0	81
Total Loans		357,318	245,739
Pass | Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		199,565	165,282
Originated one year before fiscal year		327,762	224,727
Originated two years before fiscal year		366,752	227,799
Originated three years before fiscal year		227,604	202,877
Originated four years before fiscal year		262,099	110,564
Prior		650,265	369,578
Revolving Loans		37,177	27,300
Revolving Loans Converted to Term		189	5,217
Total Loans		2,071,224	1,328,127
Pass | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		225,894	167,937
Originated one year before fiscal year		180,068	142,615
Originated two years before fiscal year		212,938	72,573
Originated three years before fiscal year		86,934	71,497
Originated four years before fiscal year		55,434	40,229
Prior		132,675	91,853
Revolving Loans		213,714	215,116
Revolving Loans Converted to Term		38	3,722
Total Loans		1,107,657	801,820
Pass | Premium finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		201,659	158,778
Originated one year before fiscal year		1,517	419
Originated two years before fiscal year		1	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		203,177	159,197
Pass | Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		216,559	191,148
Originated one year before fiscal year		114,327	90,738
Originated two years before fiscal year		51,307	34,627
Originated three years before fiscal year		14,061	15,951
Originated four years before fiscal year		4,883	3,269
Prior		1,501	1,119
Revolving Loans			0
Revolving Loans Converted to Term		0	0
Total Loans		402,638	336,852
Pass | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		75,957	78,313
Originated one year before fiscal year		91,506	138,860
Originated two years before fiscal year		140,157	58,869
Originated three years before fiscal year		58,144	42,840
Originated four years before fiscal year		45,507	28,174
Prior		369,552	364,635
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		780,823	711,691
Pass | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		39,706	41,781
Originated one year before fiscal year		42,565	35,768
Originated two years before fiscal year		33,406	19,863
Originated three years before fiscal year		19,838	14,820
Originated four years before fiscal year		14,297	13,800
Prior		57,482	50,291
Revolving Loans		27	334
Revolving Loans Converted to Term		1,346	2,096
Total Loans		207,321	176,657
Pass | Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		247,829	305,814
Originated one year before fiscal year		225,225	149,445
Originated two years before fiscal year		96,698	100,027
Originated three years before fiscal year		59,044	35,988
Originated four years before fiscal year		18,644	22,789
Prior		15,977	12,741
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		663,417	626,804
Pass | Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		58,445	50,889
Originated one year before fiscal year		37,050	28,351
Originated two years before fiscal year		17,434	14,558
Originated three years before fiscal year		8,282	6,333
Originated four years before fiscal year		3,185	3,725
Prior		4,081	3,975
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		128,477	107,831
Special mention | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		0	0
Originated one year before fiscal year		3,757	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		123	818
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		3,880	818
Special mention | Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		999	0
Originated one year before fiscal year		12,975	189
Originated two years before fiscal year		4,850	1,099
Originated three years before fiscal year		10,324	5,519
Originated four years before fiscal year		7,074	3,111
Prior		22,186	29,334
Revolving Loans		408	105
Revolving Loans Converted to Term		41	0
Total Loans		58,816	39,357
Special mention | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		540	10,248
Originated one year before fiscal year		12,051	14,981
Originated two years before fiscal year		533	11,923
Originated three years before fiscal year		9,723	2,711
Originated four years before fiscal year		4,722	236
Prior		6,336	4,877
Revolving Loans		16,236	16,235
Revolving Loans Converted to Term		8,614	0
Total Loans		50,141	61,211
Special mention | Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		363	1,741
Originated one year before fiscal year		1,529	2,477
Originated two years before fiscal year		476	140
Originated three years before fiscal year		81	22
Originated four years before fiscal year		1	24
Prior		5	0
Revolving Loans			0
Revolving Loans Converted to Term			0
Total Loans		2,455	4,404
Substandard | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		1,200	0
Originated one year before fiscal year		1,590	2
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		31	382
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		2,821	384
Substandard | Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		287	0
Originated one year before fiscal year		2,421	8,327
Originated two years before fiscal year		5,878	2,591
Originated three years before fiscal year		8,679	1,366
Originated four years before fiscal year		1,972	1,296
Prior		47,213	42,172
Revolving Loans		457	216
Revolving Loans Converted to Term		0	190
Total Loans		66,907	55,968
Substandard | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		78	84
Originated one year before fiscal year		6,441	9,801
Originated two years before fiscal year		5,104	3,417
Originated three years before fiscal year		5,617	2,410
Originated four years before fiscal year		1,602	1,459
Prior		6,278	3,620
Revolving Loans		1,889	8,603
Revolving Loans Converted to Term		779	611
Total Loans		27,009	29,394
Substandard | Leases
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		1,937	546
Originated one year before fiscal year		3,006	1,840
Originated two years before fiscal year		2,944	571
Originated three years before fiscal year		448	464
Originated four years before fiscal year		321	454
Prior		311	0
Revolving Loans			0
Revolving Loans Converted to Term			0
Total Loans		8,967	3,875
Substandard | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		43	0
Originated one year before fiscal year		243	0
Originated two years before fiscal year		585	137
Originated three years before fiscal year		182	569
Originated four years before fiscal year		529	563
Prior		8,604	10,302
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		10,186	11,571
Substandard | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		19	0
Originated one year before fiscal year		0	60
Originated two years before fiscal year		61	0
Originated three years before fiscal year		34	53
Originated four years before fiscal year		123	126
Prior		1,109	958
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		1,346	1,197
Substandard | Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		333	384
Originated one year before fiscal year		934	811
Originated two years before fiscal year		789	659
Originated three years before fiscal year		558	266
Originated four years before fiscal year		190	304
Prior		206	193
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		3,010	2,617
Substandard | Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		55	97
Originated one year before fiscal year		79	63
Originated two years before fiscal year		47	138
Originated three years before fiscal year		28	46
Originated four years before fiscal year		30	21
Prior		27	150
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		266	515
Doubtful | Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
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		10	66
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		10	66
Doubtful | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
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		179	209
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		179	209
Loss | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
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		86	98
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		86	98
Loss | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
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		8	4
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		8	4
Loss | Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Originated fiscal year		7	0
Originated one year before fiscal year		34	5
Originated two years before fiscal year		2	0
Originated three years before fiscal year		0	0
Originated four years before fiscal year		2	0
Prior		0	0
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		45	5
Loss | Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
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		26	17
Revolving Loans		0	0
Revolving Loans Converted to Term		0	0
Total Loans		$ 26	$ 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, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total collateral dependent loans	$ 1,000
Collateral Pledged
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total collateral dependent loans	501	$ 10,354
Commercial real estate, other | Collateral Pledged
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total collateral dependent loans	0	8,362
Commercial and industrial | Collateral Pledged
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total collateral dependent loans	0	1,456
Residential real estate | Collateral Pledged
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total collateral dependent loans	$ 501	$ 536

Loans and Leases - Amortized Co

Loans and Leases - Amortized Cost of Loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 9,377
Percentage of Total by Loan Category	0.15%
Forbearance Plan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 184
Payment Deferral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,590
Trial Modification and Repayment Plans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	6,622
Forbearance Plan and Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	981
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 1,642
Percentage of Total by Loan Category	0.45%
Construction | Forbearance Plan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 0
Construction | Payment Deferral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	1,590
Construction | Trial Modification and Repayment Plans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Construction | Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	52
Construction | Forbearance Plan and Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 2,344
Percentage of Total by Loan Category	0.11%
Commercial real estate | Forbearance Plan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 184
Commercial real estate | Payment Deferral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Commercial real estate | Trial Modification and Repayment Plans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Commercial real estate | Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,160
Commercial real estate | Forbearance Plan and Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 5,091
Percentage of Total by Loan Category	0.43%
Commercial and industrial | Forbearance Plan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 0
Commercial and industrial | Payment Deferral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Commercial and industrial | Trial Modification and Repayment Plans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Commercial and industrial | Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	4,110
Commercial and industrial | Forbearance Plan and Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	981
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 91
Percentage of Total by Loan Category	0.01%
Residential real estate | Forbearance Plan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 0
Residential real estate | Payment Deferral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Residential real estate | Trial Modification and Repayment Plans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Residential real estate | Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	91
Residential real estate | Forbearance Plan and Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 209
Percentage of Total by Loan Category	0.10%
Home equity lines of credit | Forbearance Plan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 0
Home equity lines of credit | Payment Deferral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Home equity lines of credit | Trial Modification and Repayment Plans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0
Home equity lines of credit | Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	209
Home equity lines of credit | Forbearance Plan and Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 0

Loans and Leases - Loan Modific

Loans and Leases - Loan Modifications and Payment Deferrals (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted-Average Term Extension (in months)	5 months
Average Amount Capitalized as a Result of a Payment Delay	$ 0
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted-Average Term Extension (in months)	7 months
Average Amount Capitalized as a Result of a Payment Delay	$ 0
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted-Average Term Extension (in months)	5 months
Average Amount Capitalized as a Result of a Payment Delay	$ 0
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted-Average Term Extension (in months)	213 months
Average Amount Capitalized as a Result of a Payment Delay	$ 8,076
Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted-Average Term Extension (in months)	187 months
Average Amount Capitalized as a Result of a Payment Delay	$ 0
Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted-Average Term Extension (in months)	2 months
Average Amount Capitalized as a Result of a Payment Delay	$ 0

Loans and Leases - Payment Defe

Loans and Leases - Payment Deferral (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Defaulted loan modification	$ 159	$ 181
Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Defaulted loan modification	159
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Defaulted loan modification	148	43
Commercial and industrial | Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Defaulted loan modification	148
Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Defaulted loan modification	11	$ 7
Consumer, indirect | Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Defaulted loan modification	$ 11

Loans and Leases - Analysis of

Loans and Leases - Analysis of Loans (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	$ 9,377
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	1,642
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	2,344
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	5,091
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	91
Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	209
30 – 59 days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
30 – 59 days | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
30 – 59 days | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
30 – 59 days | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
30 – 59 days | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
30 – 59 days | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
60 – 89 days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	802
60 – 89 days | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	52
60 – 89 days | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
60 – 89 days | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	750
60 – 89 days | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
60 – 89 days | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
90 + Days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	148
90 + Days | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
90 + Days | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
90 + Days | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	148
90 + Days | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
90 + Days | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
Total Delinquent
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	950
Total Delinquent | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	52
Total Delinquent | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
Total Delinquent | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	898
Total Delinquent | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
Total Delinquent | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	8,427
Current | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	1,590
Current | Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	2,344
Current | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	4,193
Current | Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	91
Current | Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	$ 209

Loans and Leases - Troubled Deb

Loans and Leases - Troubled Debt Restructurings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	91
Pre-Modification	$ 5,154
Post-Modification	5,242
Remaining Recorded Investment	$ 4,640
Construction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	0
Pre-Modification	$ 0
Post-Modification	0
Remaining Recorded Investment	$ 0
Commercial real estate, other
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	8
Pre-Modification	$ 1,191
Post-Modification	1,191
Remaining Recorded Investment	$ 1,179
Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	9
Pre-Modification	$ 1,513
Post-Modification	1,517
Remaining Recorded Investment	$ 971
Residential real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	34
Pre-Modification	$ 1,741
Post-Modification	1,825
Remaining Recorded Investment	$ 1,789
Home equity lines of credit
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	8
Pre-Modification	$ 321
Post-Modification	321
Remaining Recorded Investment	$ 313
Consumer, indirect
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	23
Pre-Modification	$ 286
Post-Modification	285
Remaining Recorded Investment	$ 285
Consumer, direct
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	9
Pre-Modification	$ 102
Post-Modification	103
Remaining Recorded Investment	$ 103
Consumer
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts | contract	32
Pre-Modification	$ 388
Post-Modification	388
Remaining Recorded Investment	$ 388

Loans and Leases - Summary of T

Loans and Leases - Summary of TDRs Modified (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) contract
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract		6
Defaulted loan modification	$ 159	$ 181
Impact on the Allowance for Credit Losses		$ 0
Commercial real estate, other
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract		1
Defaulted loan modification		$ 65
Impact on the Allowance for Credit Losses		$ 0
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract		1
Defaulted loan modification	148	$ 43
Impact on the Allowance for Credit Losses		$ 0
Residential real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract		2
Defaulted loan modification		$ 64
Impact on the Allowance for Credit Losses		$ 0
Consumer, indirect
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract		1
Defaulted loan modification	$ 11	$ 7
Impact on the Allowance for Credit Losses		$ 0
Consumer, direct
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract		1
Defaulted loan modification		$ 2
Impact on the Allowance for Credit Losses		$ 0
Home equity lines of credit
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of Contracts | contract		0
Defaulted loan modification		$ 0
Impact on the Allowance for Credit Losses		$ 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, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 53,162	$ 63,967
Initial Allowance for Acquired PCD Assets	2,051	(629)
(Recovery of) Provision for Credit Losses	15,345	(2,904)
Charge-offs	(11,480)	(8,755)
Recoveries	2,933	1,483
Ending balance	62,011	53,162
Construction
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1,250	2,999
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	(542)	(1,733)
Charge-offs	(9)	(16)
Recoveries	0	0
Ending balance	699	1,250
Commercial real estate, other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	17,710	29,147
Initial Allowance for Acquired PCD Assets	1,340	(451)
(Recovery of) Provision for Credit Losses	1,514	(10,794)
Charge-offs	(614)	(489)
Recoveries	965	297
Ending balance	20,915	17,710
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	8,229	11,063
Initial Allowance for Acquired PCD Assets	379	(418)
(Recovery of) Provision for Credit Losses	2,181	(1,522)
Charge-offs	(851)	(943)
Recoveries	552	49
Ending balance	10,490	8,229
Premium finance
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	344	379
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	238	76
Charge-offs	(122)	(124)
Recoveries	24	13
Ending balance	484	344
Leases
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	8,495	4,797
Initial Allowance for Acquired PCD Assets	0	801
(Recovery of) Provision for Credit Losses	5,990	5,062
Charge-offs	(3,997)	(2,585)
Recoveries	362	420
Ending balance	10,850	8,495
Residential real estate
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	6,357	7,233
Initial Allowance for Acquired PCD Assets	228	(509)
(Recovery of) Provision for Credit Losses	(670)	217
Charge-offs	(170)	(668)
Recoveries	192	84
Ending balance	5,937	6,357
Home equity lines of credit
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1,693	2,005
Initial Allowance for Acquired PCD Assets	18	(11)
(Recovery of) Provision for Credit Losses	(14)	(258)
Charge-offs	(110)	(88)
Recoveries	1	45
Ending balance	1,588	1,693
Consumer, indirect
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	7,448	5,326
Initial Allowance for Acquired PCD Assets	0	(41)
(Recovery of) Provision for Credit Losses	4,685	4,068
Charge-offs	(4,030)	(2,233)
Recoveries	487	328
Ending balance	8,590	7,448
Consumer, direct
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	1,575	961
Initial Allowance for Acquired PCD Assets	86	0
(Recovery of) Provision for Credit Losses	1,025	930
Charge-offs	(416)	(363)
Recoveries	73	47
Ending balance	2,343	1,575
Deposit account overdrafts
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	61	57
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	938	1,050
Charge-offs	(1,161)	(1,246)
Recoveries	277	200
Ending balance	$ 115	$ 61

Bank Premises and Equipment - N

Bank Premises and Equipment - Net Book Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total bank premises and equipment	$ 186,627	$ 158,137
Accumulated depreciation	(82,771)	(75,203)
Net book value	103,856	82,934
Land
Property, Plant and Equipment [Line Items]
Total bank premises and equipment	23,680	18,746
Building and premises
Property, Plant and Equipment [Line Items]
Total bank premises and equipment	120,587	101,478
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total bank premises and equipment	$ 42,360	$ 37,913

Bank Premises and Equipment -_2

Bank Premises and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 7.7	$ 7
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 Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Interest and fees on leases	$ 42,931	$ 34,720
Lease income	5,552	4,267
Other non-interest income	$ 2,308	$ 0
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	$ 50,791	$ 38,987

Leases - Schedule of Sales Ty_2

Leases - Schedule of Sales Type Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Lease payments receivable, at amortized cost	$ 463,742	$ 367,681
Estimated residual values	33,448	35,045
Initial direct costs	7,114	4,233
Deferred revenue	(90,244)	(61,828)
Allowance for credit losses - leases	(62,011)	(53,162)	$ (63,967)
Leases
Lessee, Lease, Description [Line Items]
Total leases, at amortized cost	414,060	345,131
Allowance for credit losses - leases	(10,850)	(8,495)	$ (4,797)
Net investment in sales-type leases	$ 403,210	$ 336,636

Leases - Schedule of Sales Ty_3

Leases - Schedule of Sales Type Leases Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 110,893
2025	108,346
2026	94,672
2027	74,997
2028	56,111
Thereafter	18,723
Lease payments receivable, at amortized cost	$ 463,742	$ 367,681

Leases - Narrative (Details)

Leases - Narrative (Details)	Dec. 31, 2023
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	2 years
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	25 years

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease expense	$ 3,030	$ 2,568
Short-term lease expense	268	745
Total lease expense	$ 3,298	$ 3,313
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
ROU asset:	$ 11,689	$ 6,825
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Lease liability:	$ 12,080	$ 7,551
Weighted-average remaining lease term	9 years 6 months	8 years 9 months 18 days
Weighted-average discount rate	3.34%	2.70%
Cash paid during the year for operating leases	$ 2,990	$ 2,560
Additions for ROU assets obtained during the year	$ 4,428	$ 880	$ 2,482

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 2,588
2025	2,020
2026	1,750
2027	1,599
2028	1,218
Thereafter	5,413
Total undiscounted lease payments	14,588
Imputed interest	(2,508)
Total lease liability	$ 12,080	$ 7,551

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill
Goodwill, beginning of year	$ 292,397	$ 264,193
Goodwill recorded from acquisitions	69,772	28,204
Goodwill, end of year	$ 362,169	$ 292,397

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Oct. 10, 2023	Apr. 30, 2023	Jan. 03, 2023	Mar. 07, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill	$ 362,169	$ 292,397					$ 264,193
Weighted average amortization period	9 years 2 months 12 days
Servicing rights	$ 1,385	1,816					$ 2,218	$ 2,486
Fair Value
Goodwill [Line Items]
Servicing rights	3,200	3,400
Noncompete Agreements
Goodwill [Line Items]
Intangibles recorded from acquisitions		1,300
Limestone Bancorp, Inc.
Goodwill [Line Items]
Goodwill	68,800			$ 68,831
Limestone Bancorp, Inc. | Core Deposits
Goodwill [Line Items]
Intangibles recorded from acquisitions	$ 27,700
Trust And Investment Business
Goodwill [Line Items]
Goodwill					$ 600
Insurance Business
Goodwill [Line Items]
Goodwill			$ 400
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, reduction		$ 1,300

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangibles recorded from acquisitions	$ 15,284	$ 27,722
Accumulated amortization	(36,079)	(46,350)
Total acquisition-related intangibles		46,127
Total gross intangibles	52,911	66,875
Total acquisition-related intangibles	32,116	48,247
Servicing rights	1,816	1,385	$ 2,218	$ 2,486
Non-compete agreements		371
Total other intangibles	33,932	50,003
Indefinite-Lived Trade Names
Finite-Lived Intangible Assets [Line Items]
Intangibles recorded from acquisitions	1,217	0
Gross intangibles	1,274	2,491
Total acquisition-related intangibles	2,491	2,491
Core Deposits
Finite-Lived Intangible Assets [Line Items]
Gross intangibles	26,464	26,464
Intangibles recorded from acquisitions	0	27,722
Accumulated amortization	(20,667)	(25,670)
Total acquisition-related intangibles	5,797	28,516
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross intangibles	25,173	37,920
Intangibles recorded from acquisitions	14,067	0
Accumulated amortization	(15,412)	(20,680)
Total acquisition-related intangibles	23,828	$ 17,240
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Intangibles recorded from acquisitions	$ 1,300

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Schedule of Future Amortization of Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Intangible Assets
2024	$ 11,185
2025	8,830
2026	6,817
2027	5,299
2028	4,157
Thereafter	9,839
Total acquisition-related intangibles	46,127
Core Deposits
Other Intangible Assets
2024	5,875
2025	4,609
2026	3,736
2027	3,043
2028	2,608
Thereafter	8,645
Total acquisition-related intangibles	28,516	$ 5,797
Customer Relationships
Other Intangible Assets
2024	5,310
2025	4,221
2026	3,081
2027	2,256
2028	1,549
Thereafter	1,194
Total acquisition-related intangibles	$ 17,611

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets - Schedule of Servicing Rights (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Servicing Asset at Fair Value, Amount [Roll Forward]
Balance, beginning of year	$ 1,816	$ 2,218	$ 2,486
Amortization	(457)	(594)	(936)
Servicing rights originated	1,385	1,816	2,218
Change in valuation allowance	(1)	12	149
Balance, end of period	1,385	1,816	2,218
Servicing rights
Servicing Asset at Fair Value, Amount [Roll Forward]
Balance, beginning of year	180	519
Servicing rights originated	27	180	519
Balance, end of period	$ 27	$ 180	$ 519

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, 2023	Dec. 31, 2022
Minimum
Finite-Lived Intangible Assets [Line Items]
Discount rates	13.50%	12.50%
Prepayment speeds	7.70%	6.50%
Maximum
Finite-Lived Intangible Assets [Line Items]
Discount rates	16%	15%
Prepayment speeds	16.10%	23.80%

Deposits - Schedule of Deposit

Deposits - Schedule of Deposit Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deposit Liability [Line Items]
Time deposits	$ 2,018,846
Interest-bearing deposit accounts	1,144,357	$ 1,160,182
Savings accounts	919,244	1,068,547
Money market deposit accounts	775,488	617,029
Governmental deposit accounts	726,713	625,965
Total interest-bearing deposits	5,584,648	4,127,539
Non-interest-bearing deposits	1,567,649	1,589,402
Total deposits	7,152,297	5,716,941
Brokered deposit accounts
Deposit Liability [Line Items]
Time deposits	575,429	125,580
Retail CDs:
Deposit Liability [Line Items]
$100 or more	815,300	263,341
Less than $100	628,117	266,895
Time deposits	$ 1,443,417	$ 530,236

Deposits - Narrative (Details)

Deposits - Narrative (Details)	Dec. 31, 2023 USD ($) contract	Dec. 31, 2022 USD ($)
Deposit Liability [Line Items]
Time deposits exceeding FDIC limit	$ 2,000,000,000	$ 1,600,000,000
Related party deposits	14,200,000	8,500,000
Asset Pledged as Collateral
Deposit Liability [Line Items]
Debt securities	0	0
Asset Pledged as Collateral | Deposits
Deposit Liability [Line Items]
Debt securities	788,700,000
Brokered CD's
Deposit Liability [Line Items]
Notional amount	$ 105,000,000
Interest Rate Swap
Deposit Liability [Line Items]
Number of derivative instruments | contract	11
Notional amount	$ 105,000,000	$ 125,000,000

Deposits - Broken Out by Time R

Deposits - Broken Out by Time Remaining Until Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Banking and Thrift, Other Disclosure [Abstract]
3 months or less	$ 58,708	$ 19,282
Over 3 to 6 months	99,928	14,871
Over 6 to 12 months	131,263	14,383
Over 12 months	37,180	52,216
Total	$ 327,079	$ 100,752

Deposits - Schedule of Time Dep

Deposits - Schedule of Time Deposit Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deposit Liability [Line Items]
2024	$ 1,853,735
2025	113,820
2026	18,033
2027	25,033
2028	8,176
Thereafter	49
Total CDs	2,018,846
Brokered
Deposit Liability [Line Items]
2024	575,429
2025	0
2026	0
2027	0
2028	0
Thereafter	0
Total CDs	575,429	$ 125,580
Retail
Deposit Liability [Line Items]
2024	1,278,306
2025	113,820
2026	18,033
2027	25,033
2028	8,176
Thereafter	49
Total CDs	$ 1,443,417	$ 530,236

Short-Term Borrowings - Schedul

Short-Term Borrowings - Schedule of Short-term Borrowings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Short-term Borrowings
Short-term borrowings	$ 601,121	$ 500,138	$ 166,482
Average balance	463,557	196,790	100,963
Highest month-end balance	585,439	500,138	184,693
Interest expense	$ 19,722	$ 2,661	$ 541
Weighted-average interest rate, end of year	4.65%	3.57%	0.31%
Weighted-average interest rate, during the year	4.25%	1.35%	0.54%
Retail Repurchase Agreements
Short-term Borrowings
Short-term borrowings	$ 99,121	$ 100,138	$ 111,482
Average balance	102,530	113,434	70,674
Highest month-end balance	125,937	286,442	119,693
Interest expense	$ 1,349	$ 274	$ 66
Weighted-average interest rate, end of year	1.54%	0.40%	0.09%
Weighted-average interest rate, during the year	1.32%	0.24%	0.09%
FHLB Advances
Short-term Borrowings
Short-term borrowings	$ 369,000	$ 400,000	$ 55,000
Average balance	353,532	83,356	30,289
Highest month-end balance	484,000	400,000	65,017
Interest expense	$ 18,058	$ 2,387	$ 475
Weighted-average interest rate, end of year	5.41%	4.36%	0.74%
Weighted-average interest rate, during the year	5.11%	2.86%	1.57%
Other
Short-term Borrowings
Short-term borrowings	$ 133,000	$ 0	$ 0
Average balance	7,495	0	0
Highest month-end balance	133,000	0	0
Interest expense	$ 315	$ 0	$ 0
Weighted-average interest rate, end of year	4.85%	0%	0%
Weighted-average interest rate, during the year	4.93%	0%	0%

Short-Term Borrowings - Narrati

Short-Term Borrowings - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Apr. 03, 2019	Dec. 31, 2023	Dec. 31, 2022
Short-term Borrowings
Federal funds available from correspondent banks		$ 320.7
Minimum
Short-term Borrowings
Federal funds maturity term		1 day
Maximum
Short-term Borrowings
Federal funds maturity term		90 days
Bank Term Funding Program
Short-term Borrowings
Line of credit facility, maximum borrowing capacity		$ 133
Debt term		1 year
Bank Term Funding Program | One-Year Overnight Index Swap Rate
Short-term Borrowings
Basis spread on variable rate		0.10%
US Bank Loan Agreement
Short-term Borrowings
Line of credit facility, maximum borrowing capacity		$ 30
Debt term	1 year
FHLB Advances | Matured Debt
Short-term Borrowings
Long-term borrowings reclassified to short-term based on maturity date		$ 60	$ 55

Long-Term Borrowings - Schedule

Long-Term Borrowings - Schedule of Long Term Borrowing (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Long-term borrowings:
Total long-term borrowings	$ 216,241	$ 101,093
Total long-term borrowings, weighted-average rate	5.89%	4.50%
FHLB putable, non-amortizing, fixed rate advances
Long-term borrowings:
Long-term FHLB advances	$ 110,000	$ 30,000
Federal Home Loan Bank, advances, weighted average interest rate	3.98%	2.51%
FHLB amortizing, fixed rate advances
Long-term borrowings:
Long-term FHLB advances	$ 2,865	$ 4,158
Federal Home Loan Bank, advances, weighted average interest rate	1.81%	1.79%
Vantage non-recourse borrowings
Long-term borrowings:
Vantage non-recourse borrowings	$ 49,572	$ 53,147
Weighted average interest rate	6.26%	4.75%
Other long-term borrowings
Long-term borrowings:
Weighted average interest rate	9.67%	8.66%
Other long-term borrowings	$ 53,804	$ 13,788

Long-Term Borrowings - Narrativ

Long-Term Borrowings - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) advance	Apr. 30, 2023 trust	Sep. 17, 2021 USD ($)	Mar. 06, 2015 USD ($)
FHLB Advances
Long-term borrowings
Number of FHLB advances | advance	4
Number of non-callable FHLB advances | advance	3
Number of callable FHLB advances | advance	1
Limestone Bancorp, Inc.
Long-term borrowings
Number of trust preferred securities acquired | trust		4
Fixed 4.40% Non-Callable Federal Home Loan Bank Advance | FHLB Advances
Long-term borrowings
Long-term FHLB advances	$ 60
FHBL advances, bank interest rate	4.40%
Fixed 4.30% Non-Callable Federal Home Loan Bank Advance | FHLB Advances
Long-term borrowings
Long-term FHLB advances	$ 10
FHBL advances, bank interest rate	4.30%
Fixed 4.11% Non-Callable Federal Home Loan Bank Advance | FHLB Advances
Long-term borrowings
Long-term FHLB advances	$ 10
FHBL advances, bank interest rate	4.11%
Fixed 4.59% Callable Federal Home Loan Bank Advance | FHLB Advances
Long-term borrowings
Long-term FHLB advances	$ 10
FHBL advances, bank interest rate	4.59%
FHLB putable, non-amortizing, fixed rate advances | FHLB Advances
Long-term borrowings
FHBL advances, initial fixed rate period	3 months
FHLB putable, non-amortizing, fixed rate advances | Minimum | FHLB Advances
Long-term borrowings
FHBL advances, bank interest rate	2.17%
FHLB advances, maturities period	3 years
FHLB putable, non-amortizing, fixed rate advances | Maximum | FHLB Advances
Long-term borrowings
FHBL advances, bank interest rate	4.59%
FHLB advances, maturities period	4 years
FHLB amortizing, fixed rate advances | Minimum | FHLB Advances
Long-term borrowings
FHBL advances, bank interest rate	1.25%
FHLB advances, maturities period	3 years
FHLB amortizing, fixed rate advances | Maximum | FHLB Advances
Long-term borrowings
FHBL advances, bank interest rate	3.83%
FHLB advances, maturities period	9 years
Vantage non-recourse borrowings | Minimum | FHLB Advances
Long-term borrowings
Junior subordinated debt securities, Weighted average interest rate	2.69%
Vantage non-recourse borrowings | Maximum | FHLB Advances
Long-term borrowings
Junior subordinated debt securities, Weighted average interest rate	11.25%
Other long-term borrowings | NB&T Financial Group, Inc. | FHLB Advances
Long-term borrowings
Junior subordinated debt securities, Weighted average interest rate	10.06%
Par Value				$ 9
Other long-term borrowings	$ 8			$ 6.6
Other long-term borrowings | Premier Financial Bancorp, Inc. | FHLB Advances
Long-term borrowings
Junior subordinated debt securities, Weighted average interest rate	9.07%
Par Value			$ 6.2
Other long-term borrowings	$ 5.9		$ 6.1

Long-Term Borrowings - Schedu_2

Long-Term Borrowings - Schedule of Subordinated Borrowing (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Apr. 30, 2023	Dec. 31, 2022
Long-term borrowings
Long-term borrowings	$ 216,241		$ 101,093
Various Subordinated Borrowings
Long-term borrowings
Par Value		$ 46,000
Fair Value		39,453
Long-term borrowings	$ 40,137
Ascencia Statutory Trust I
Long-term borrowings
Par Value		3,000
Fair Value		2,430
Interest Rate	12.99%
Long-term borrowings	$ 2,487
Porter Statutory Trust II
Long-term borrowings
Par Value		5,000
Fair Value		4,050
Interest Rate	13%
Long-term borrowings	$ 4,145
Porter Statutory Trust III
Long-term borrowings
Par Value		3,000
Fair Value		2,410
Interest Rate	13.04%
Long-term borrowings	$ 2,468
Porter Statutory Trust IV
Long-term borrowings
Par Value		10,000
Fair Value		6,886
Interest Rate	14.19%
Long-term borrowings	$ 7,124
Floating rate junior subordinated deferrable interest debentures
Long-term borrowings
Par Value		25,000
Fair Value		$ 23,677
Interest Rate	7.08%
Long-term borrowings	$ 23,913

Long-Term Borrowings - Schedu_3

Long-Term Borrowings - Schedule of Aggregate Minimum Annual Retirements of Long-Term Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Balance
2024	$ 12,332
2025	7,377
2026	38,015
2027	7,569
2028	86,589
Thereafter	64,359
Total long-term borrowings	$ 216,241	$ 101,093

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Preferred, Common and Treasury Stock (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Increase (Decrease) in Stock by Class
Common stock, beginning of period (in shares)	29,857,920
Treasury stock, beginning of period (in shares)	1,643,461
Changes related to deferred compensation plan for Boards of Directors:
Common stock, end of period (in shares)	36,736,041	29,857,920
Treasury stock, end of period (in shares)	1,511,348	1,643,461
Common Stock
Increase (Decrease) in Stock by Class
Common stock, beginning of period (in shares)	29,857,920	29,814,401	21,193,402
Changes related to stock-based compensation awards:
Grant of common shares (in shares)		0	0
Release of restricted common shares (in shares)	0	0	0
Cancellation of restricted common shares (in shares)	0	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 issued under dividend reinvestment plan (in shares)	50,453	43,519	31,314
Common shares purchased under repurchase program (in shares)	0	0
Common shares issued under compensation plan for boards of directors (in shares)	0	0	0
Common shares issued under employee stock purchase plan (in shares)	0	0	0
Issuance of common shares related to the merger (in shares)	6,827,668		8,589,685
Common stock, end of period (in shares)	36,736,041	29,857,920	29,814,401
Common Stock | Restricted Shares
Changes related to stock-based compensation awards:
Grant of common shares (in shares)	0	0	0
Treasury Stock
Increase (Decrease) in Stock by Class
Treasury stock, beginning of period (in shares)	1,643,461	1,577,359	1,686,046
Changes related to stock-based compensation awards:
Grant of common shares (in shares)	(1,900)	(1,500)	(21,587)
Release of restricted common shares (in shares)	43,087	39,445	34,732
Cancellation of restricted common shares (in shares)	16,778	5,452	8,129
Changes related to deferred compensation plan for Boards of Directors:
Purchase of treasury stock (in shares)	21,042	15,688	7,089
Disbursed out of treasury stock (in shares)	(4,368)	(3,039)	(2,983)
Common shares issued under dividend reinvestment plan (in shares)	0	0	0
Common shares purchased under repurchase program (in shares)	107,219	263,183
Common shares issued under compensation plan for boards of directors (in shares)	(19,931)	(17,626)	(7,589)
Common shares issued under employee stock purchase plan (in shares)	(34,392)	(18,832)	(17,093)
Issuance of common shares related to the merger (in shares)	0		0
Treasury stock, end of period (in shares)	1,511,348	1,643,461	1,577,359
Treasury Stock | Restricted Shares
Changes related to stock-based compensation awards:
Grant of common shares (in shares)	(259,648)	(216,669)	(109,385)

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 28, 2021
Class of Stock
Stock repurchase program, authorized amount				$ 30,000,000
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
Common shares purchased under repurchase program (in shares)	107,219	263,183	0
Common shares purchased under repurchase program	$ 3,000,000	$ 7,400,000

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Dividends Declared (Details) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Common stock, dividends, per common share (in usd per share)	$ 0.39	$ 0.39	$ 0.39	$ 0.38	$ 0.38	$ 0.38	$ 0.38	$ 0.36	$ 1.55	$ 1.50

Stockholders' Equity - Schedu_3

Stockholders' Equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 785,328	$ 845,025	$ 575,673
Realized loss on sale of securities, net of tax	2,836	47	670
Realized loss due to settlement and curtailment, net of tax	1,858	142	111
Other comprehensive income (loss), net of reclassifications and tax	20,852	(115,706)	(13,736)
Ending balance	1,053,534	785,328	845,025
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(127,136)	(11,619)	1,336
Realized loss due to settlement and curtailment, net of tax	1,858
Ending balance	(101,590)	(127,136)	(11,619)
Unrealized Gain (Loss) on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(129,896)	(5,946)	14,592
Realized loss on sale of securities, net of tax	2,836	47	670
Realized loss due to settlement and curtailment, net of tax	0	0	0
Other comprehensive income (loss), net of reclassifications and tax	22,838	(123,997)	(21,208)
Ending balance	(104,222)	(129,896)	(5,946)
Unrecognized Net Pension and Postretirement Costs
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,633)	(1,881)	(3,872)
Realized loss on sale of securities, net of tax	0	0	0
Realized loss due to settlement and curtailment, net of tax	1,858	142	111
Other comprehensive income (loss), net of reclassifications and tax	(225)	106	1,880
Ending balance	0	(1,633)	(1,881)
Unrealized (Loss) Gain on Cash Flow Hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	4,393	(3,792)	(9,384)
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 income (loss), net of reclassifications and tax	(1,761)	8,185	5,592
Ending balance	$ 2,632	$ 4,393	$ (3,792)

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended			36 Months Ended
	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Defined Benefit Plan Disclosure
Employer matching percentage					100%
Contribution matched by employer					6%
Matching contributions		$ 5.4	$ 4.4	$ 3.5
Other Postretirement Benefits Plan
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%
Pension Plan
Defined Benefit Plan Disclosure
Remaining benefit obligation	$ 7.7
Settlement charge	$ 2.4

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amount
Income tax computed at statutory federal corporate income tax rate	$ 30,476	$ 27,015	$ 11,954
State taxes, net of federal benefit	3,053	2,277	119
Investment securities impairment	0	431	0
Nondeductible acquisition costs	168	42	269
Common share awards	(99)	12	74
Bank owned life insurance	(872)	(551)	(371)
Investments in tax credit funds	(352)	(629)	(381)
Captive insurance benefit	(330)	(421)	(435)
Tax-exempt interest income	(555)	(921)	(835)
Fixed asset depreciation	0	0	(1,142)
Other, net	274	94	163
Income tax expense	$ 31,763	$ 27,349	$ 9,415
Rate
Income tax computed at statutory federal corporate income tax rate	21%	21%	21%
State taxes, net of federal benefit	2.10%	1.80%	0.20%
Investment securities impairment	0%	0.30%	0%
Nondeductible acquisition costs	0.10%	0%	0.50%
Common share awards	(0.10%)	0%	0.10%
Bank owned life insurance	(0.60%)	(0.40%)	(0.60%)
Investments in tax credit funds	(0.20%)	(0.50%)	(0.70%)
Captive insurance benefit	(0.20%)	(0.30%)	(0.80%)
Tax-exempt interest income	(0.40%)	(0.70%)	(1.50%)
Fixed asset depreciation	0%	0%	(2.00%)
Other, net	0.20%	0.10%	0.30%
Income tax expense	21.90%	21.30%	16.50%

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Current income tax expense	$ 32,001	$ 8,783	$ 6,541
Deferred income tax (benefit) expense	(238)	18,566	2,874
Income tax expense	$ 31,763	$ 27,349	$ 9,415

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Available-for-sale securities	$ 31,774	$ 39,425
Allowance for credit losses	14,902	12,827
Nonaccrual loan interest income	2,753	4,366
Accrued employee benefits	7,344	3,391
Lease obligation	2,822	1,757
Net operating loss carryforward	11,367	158
Purchase accounting adjustments	1,920	0
Other	1,622	899
Gross deferred tax assets	74,504	62,823
Valuation allowance	158	158
Total deferred tax assets	74,346	62,665
Equipment leases	11,286	16,316
Deferred loan income	3,117	5,512
Purchase accounting adjustments	0	4,431
Bank premises and equipment	5,116	3,206
Lease right-of-use assets	2,731	1,588
Derivative instruments	774	1,302
Other	3,951	2,259
Total deferred tax liabilities	26,975	34,614
Net deferred tax asset	$ 47,371	$ 28,051

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Federal tax carry forwards	$ 208
Operating loss deferred tax asset	7,300
Operating loss carryforwards, valuation allowance	158
Federal income tax benefit from investment securities	777	$ 13	$ 181
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	52,000
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	9,500
Operating loss carryforwards, amount unlikely to be utilized	$ 2,200

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Uncertain tax positions, beginning of year	$ 89	$ 106
Gross increase based on tax positions related to current year	527	39
Gross decrease due to the statute of limitations	(89)	(56)
Uncertain tax positions, end of year	$ 527	$ 89

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net income available to common shareholders	$ 113,363	$ 101,292	$ 47,555
Less: Dividends paid on unvested common shares	531	354	295
Less: Undistributed loss allocated to unvested common shares	269	96	26
Net earnings allocated to common shareholders	$ 112,563	$ 100,842	$ 47,234
Weighted-average common shares outstanding (in shares)	32,533,086	27,908,022	21,816,511
Effect of potentially dilutive common shares (in shares)	227,722	91,580	143,372
Total weighted-average diluted common shares outstanding (in shares)	32,760,808	27,999,602	21,959,883
Earnings per common share:
Basic (in usd per share)	$ 3.46	$ 3.61	$ 2.17
Diluted (in usd per share)	$ 3.44	$ 3.60	$ 2.15
Anti-dilutive common shares excluded from calculation:
Restricted common shares (in shares)	9,123	0	275

Derivative Financial Instrume_3

Derivative Financial Instrument - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) contract	Dec. 31, 2022 USD ($)
Derivative [Line Items]
Maximum length of time hedged	10 years
Reclassifications into Interest expense on cash flow hedge	$ 300,000	$ 800,000
Cash pledged to Peoples from counterparties	12,800,000	20,900,000
Investment securities, counterparties pledged	2,200,000	2,500,000
Asset Pledged as Collateral
Derivative [Line Items]
Debt securities	0	0
Brokered CD's
Derivative [Line Items]
Notional amount	$ 105,000,000
Interest Rate Swap
Derivative [Line Items]
Number of instruments held | contract	11
Notional amount	$ 105,000,000	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, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Pre-tax changes in fair value included in AOCL	$ (2,293)	$ 10,606	$ 6,999
Interest Rate Swap
Derivative [Line Items]
Notional amount	$ 105,000	$ 125,000
Weighted average pay rates	2.22%	2.26%
Weighted average receive rates	4.63%	4.44%
Weighted average maturity	2 years	2 years 7 months 6 days
Pre-tax changes in fair value included in AOCL	$ 3,434	$ 5,727

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net (losses) gains arising during the period	$ (2,293)	$ 10,606	$ 6,999

Derivative Financial Instrume_6

Derivative Financial Instruments - Cash Flow Hedges (Details) - Designated as Hedging Instrument - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Derivative asset, notional amount	$ 105,000	$ 125,000
Derivative asset, fair value	3,314	5,594
Interest rate swaps related to debt
Derivative [Line Items]
Derivative asset, notional amount	105,000	125,000
Derivative asset, fair value	$ 3,314	$ 5,594

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, 2023	Dec. 31, 2022
Derivative [Line Items]
Derivative asset, notional amount	$ 416,106	$ 390,126
Derivative asset, fair value	18,990	28,529
Derivative liability, notional amount	416,106	390,126
Derivative liability, fair value	19,122	28,529
Interest Rate Swap
Derivative [Line Items]
Derivative asset, notional amount	416,106	390,126
Derivative asset, fair value	18,990	28,529
Derivative liability, notional amount	416,106	390,126
Derivative liability, fair value	$ 19,122	$ 28,529

Off-Balance Sheet Risk - Schedu

Off-Balance Sheet Risk - Schedule of Loan Commitments and Standby Letters of Credit (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Loan commitments	$ 1,363,976	$ 1,198,239
Standby letters of credit	14,318	15,451
Home equity lines of credit
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Loan commitments	244,367	197,995
Unadvanced construction loans
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Loan commitments	349,850	270,229
Other loan commitments
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Loan commitments	$ 769,759	$ 730,015

Regulatory Matters - Narrative

Regulatory Matters - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Regulatory Matters [Abstract]
Required reserve balances	$ 0	$ 0
Net profits available	$ 153.2

Regulatory Matters - Schedule o

Regulatory Matters - Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
PEOPLES
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity tier one capital	$ 766,692,000	$ 604,566,000
Common equity tier one capital ratio	0.1156	0.1192
Common equity tier one capital required for capital adequacy	$ 298,393,000	$ 228,206,000
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	$ 431,011,000	$ 329,631,000
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	$ 820,496,000	$ 618,354,000
Tier one risk based capital to risk weighted assets	0.1237	0.1219
Tier one risk based capital required for capital adequacy	$ 397,857,000	$ 304,274,000
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	$ 530,476,000	$ 405,699,000
Tier one risk based capital required to be well capitalized to risk weighted assets	0.0800	0.0800
Capital	$ 873,226,000	$ 662,421,000
Capital to risk ratio	0.1317	0.1306
Capital required for capital adequacy	$ 530,476,000	$ 405,699,000
Capital required for capital adequacy to risk ratio	0.0800	0.0800
Capital required to be well capitalized	$ 663,095,000	$ 507,124,000
Capital required to be well capitalized to risk ratio	0.1000	0.1000
Tier one leverage capital	$ 820,496,000	$ 618,354,000
Tier one leverage capital to ratio	0.0948	0.0892
Tier one leverage capital required for capital adequacy	$ 346,112,000	$ 277,302,000
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	$ 432,640,000	$ 346,628,000
Tier one leverage capital required to be well capitalized to average assets ratio	0.0500	0.0500
Regulatory capital conservation buffer	$ 342,750,000	$ 256,722,000
Regulatory capital conservation buffer ratio	0.0517	0.0506
Risk weighted assets	6,630,945,000	5,071,240,000
PEOPLES BANK
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity tier one capital	$ 783,790,000	$ 593,609,000
Common equity tier one capital ratio	0.1185	0.1172
Common equity tier one capital required for capital adequacy	$ 297,638,000	$ 227,843,000
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	$ 429,921,000	$ 329,107,000
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	$ 783,790,000	$ 593,609,000
Tier one risk based capital to risk weighted assets	0.1185	0.1172
Tier one risk based capital required for capital adequacy	$ 396,850,000	$ 303,791,000
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	$ 529,134,000	$ 405,055,000
Tier one risk based capital required to be well capitalized to risk weighted assets	0.0800	0.0800
Capital	$ 836,520,000	$ 637,676,000
Capital to risk ratio	0.1265	0.1259
Capital required for capital adequacy	$ 529,134,000	$ 405,055,000
Capital required for capital adequacy to risk ratio	0.0800	0.0800
Capital required to be well capitalized	$ 661,417,000	$ 506,318,000
Capital required to be well capitalized to risk ratio	0.1000	0.1000
Tier one leverage capital	$ 783,790,000	$ 593,609,000
Tier one leverage capital to ratio	0.0912	0.0858
Tier one leverage capital required for capital adequacy	$ 343,613,000	$ 276,712,000
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	$ 429,517,000	$ 345,890,000
Tier one leverage capital required to be well capitalized to average assets ratio	0.0500	0.0500
Regulatory capital conservation buffer	$ 307,386,000	$ 232,621,000
Regulatory capital conservation buffer ratio	0.0465	0.0459
Risk weighted assets	6,614,172,000	5,063,183,000
Minimum | PEOPLES
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Regulatory capital conservation buffer	165,774,000	126,781,000
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	165,354,000	126,580,000
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, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan discount	15%
Unvested restricted common shares	$ 5,300
Weighted-average period of recognition	2 years
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)	750,000
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Intrinsic value of awards vested	$ 3,700	$ 3,700	$ 2,600
Restricted Shares | Performance-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded (in shares)	188,372
Restricted Shares | Time-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded (in shares)	71,276
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)	1,493,297

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Restricted Shares Activity (Details) - Restricted Shares	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Time-Based Vesting
Number of Common Shares
Outstanding at January 1 (in shares) | shares	138,522
Awarded (in shares) | shares	71,276
Released (in shares) | shares	(60,420)
Forfeited (in shares) | shares	(6,959)
Outstanding at December 31 (in shares) | shares	142,419
Weighted-Average Grant Date Fair Value
Outstanding at January 1 (in usd per share) | $ / shares	$ 27.25
Awarded (in usd per share) | $ / shares	26.40
Released (in usd per share) | $ / shares	22.26
Forfeited (in usd per share) | $ / shares	30.52
Outstanding at December 31 (in usd per share) | $ / shares	$ 28.78
Performance-Based Vesting
Number of Common Shares
Outstanding at January 1 (in shares) | shares	295,565
Awarded (in shares) | shares	188,372
Released (in shares) | shares	(70,458)
Forfeited (in shares) | shares	(9,509)
Outstanding at December 31 (in shares) | shares	403,970
Weighted-Average Grant Date Fair Value
Outstanding at January 1 (in usd per share) | $ / shares	$ 32.20
Awarded (in usd per share) | $ / shares	30.30
Released (in usd per share) | $ / shares	32.91
Forfeited (in usd per share) | $ / shares	31.11
Outstanding at December 31 (in usd per share) | $ / shares	$ 31.21

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation and Related Tax Benefit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 6,025	$ 4,325	$ 3,890
Recognized tax benefit	(1,402)	(1,007)	(867)
Net expense recognized	4,623	3,318	3,023
Total employee stock-based compensation expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	5,477	3,819	3,515
Restricted common share grant expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	5,337	3,707	3,436
Employee stock purchase plan expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	140	112	79
Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 548	$ 506	$ 375

Revenue - Summary of Revenues (

Revenue - Summary of Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Commission and fees from sale of insurance policies	$ 16,081	$ 13,960
Fees related to third party insurance administration services	301	343
Performance-based commissions	1,634	1,424
Interchange income	19,380	16,674
Promotional and usage income	5,830	4,420
Ongoing maintenance fees for deposit accounts	6,425	5,323
Transaction-based fees	10,257	9,260
Other non-interest income transaction-based fees	1,650	1,499
Revenue	79,500	69,956
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue	65,177	57,111
Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue	14,323	12,845
Commercial loan swap fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	782	662
Trust and investment income: | Fiduciary Income
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	10,295	10,048
Trust and investment income: | Brokerage Income
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 6,865	$ 6,343

Revenue - Schedule of Contract

Revenue - Schedule of Contract Assets and Liabilities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Contract Assets
Balance, January 1, 2023	$ 1,294
Additional income receivable	209
Receipt of income previously receivable	(750)
Balance, December 31, 2023	753
Contract Liabilities
Balance, January 1, 2023	5,634
Additional deferred income	411
Recognition of income previously deferred	(269)
Balance, December 31, 2023	$ 5,776

Acquisitions - Limestone Bancor

Acquisitions - Limestone Bancorp, Inc. Narrative (Details) $ in Thousands		3 Months Ended	12 Months Ended
	Apr. 30, 2023 USD ($) branch shares	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) shares
Business Acquisition [Line Items]
Professional fees			$ 17,041	$ 12,094	$ 15,783
Salaries and employee benefit costs			144,031	112,690	94,612
Other non-interest expense			25,033	15,476	21,573
Data processing and software expense			$ 21,607	$ 14,241	$ 10,542
Common Stock
Business Acquisition [Line Items]
Issuance of common shares related to the merger (in shares) | shares			6,827,668		8,589,685
Limestone Bancorp, Inc.
Business Acquisition [Line Items]
Number of branches operated | branch	20
Common shares paid (in shares) | shares	0.90
Equity interest issued	$ 177,900
Acquisition related costs			$ 16,900
Professional fees			6,000
Salaries and employee benefit costs			5,900
Other non-interest expense			2,900
Data processing and software expense			1,800
Various other non-interest expense			300
Contract termination fees		$ 1,800
Provision of credit losses excluded from pro forma			$ 8,100
Limestone Bancorp, Inc. | Common Stock
Business Acquisition [Line Items]
Issuance of common shares related to the merger (in shares) | shares	6,827,668

Acquisitions - Limestone Banc_2

Acquisitions - Limestone Bancorp, Inc. (Details) - USD ($) $ in Thousands		Apr. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets
Loans and leases	[1]		$ 6,159,196	$ 4,707,150
Allowance for credit losses (on PCD loans)			(62,011)	(53,162)	$ (63,967)
Net loans			6,097,185	4,653,988
Other intangible assets			27,722	15,284
Liabilities
Goodwill			362,169	$ 292,397	$ 264,193
Limestone Bancorp, Inc.
Business Acquisition [Line Items]
Total purchase price		$ 177,931
Assets
Cash and balances due from banks		6,422
Interest-bearing deposits in other banks		87,115
Total cash and cash equivalents		93,537
Loans and leases		1,077,929
Allowance for credit losses (on PCD loans)		(2,051)
Net loans		1,075,878
Bank premises and equipment, net of accumulated depreciation		17,690
Bank owned life insurance		31,343
Other intangible assets		27,722
Other assets		36,874
Total assets		1,455,704
Liabilities
Deposits		1,234,184
Short-term borrowings		60,000
Long-term borrowings		39,453
Accrued expenses and other liabilities		12,967
Total liabilities		1,346,604
Net assets		109,100
Goodwill		68,831	$ 68,800
Limestone Bancorp, Inc. | Non-interest-bearing
Liabilities
Deposits		262,727
Limestone Bancorp, Inc. | Interest-bearing
Liabilities
Deposits		971,457
Limestone Bancorp, Inc. | Available-for-sale investment securities, at fair value
Assets
Investment securities		166,944
Limestone Bancorp, Inc. | Other investment securities
Assets
Investment securities		5,716
Limestone Bancorp, Inc. | Total investment securities
Assets
Investment securities		$ 172,660
[1] Also referred to throughout this Form 10-K as “total loans” and “loans held for investment.”

Acquisitions - Changes in Estim

Acquisitions - Changes in Estimated Fair Value (Details) - Limestone Bancorp, Inc. $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Loans	$ (2,051)
Allowance for credit losses (on PCD loans)	(890)
Net loans	(2,941)
Other assets	1,949
Total assets	(992)
Long-term borrowings	5,709
Total liabilities	5,709
Net assets	(6,701)
Goodwill	$ 6,701

Acquisitions - Limestone & Vant

Acquisitions - Limestone & Vantage Purchased Deteriorated Loans (Details) - USD ($) $ in Thousands			12 Months Ended
	Apr. 30, 2023	Mar. 07, 2022	Dec. 31, 2022
Limestone Bancorp, Inc.
Business Acquisition [Line Items]
Par Value	$ 55,504
Allowance for Credit Losses	(2,051)
Non-Credit (Discount) Premium	(3,451)
Fair Value	50,002
Vantage Financial LLC
Business Acquisition [Line Items]
Par Value		$ 3,412
Allowance for Credit Losses		(801)	$ (800)
Non-Credit (Discount) Premium		1,120
Fair Value		3,731
Commercial real estate, other | Limestone Bancorp, Inc.
Business Acquisition [Line Items]
Par Value	30,907
Allowance for Credit Losses	(1,340)
Non-Credit (Discount) Premium	(2,160)
Fair Value	27,407
Commercial and industrial | Limestone Bancorp, Inc.
Business Acquisition [Line Items]
Par Value	16,466
Allowance for Credit Losses	(379)
Non-Credit (Discount) Premium	(610)
Fair Value	15,477
Residential real estate | Limestone Bancorp, Inc.
Business Acquisition [Line Items]
Par Value	6,328
Allowance for Credit Losses	(228)
Non-Credit (Discount) Premium	(770)
Fair Value	5,330
Home equity lines of credit | Limestone Bancorp, Inc.
Business Acquisition [Line Items]
Par Value	774
Allowance for Credit Losses	(18)
Non-Credit (Discount) Premium	11
Fair Value	767
Consumer | Limestone Bancorp, Inc.
Business Acquisition [Line Items]
Par Value	1,029
Allowance for Credit Losses	(86)
Non-Credit (Discount) Premium	78
Fair Value	$ 1,021
Leases | Vantage Financial LLC
Business Acquisition [Line Items]
Par Value		3,412
Allowance for Credit Losses		(801)
Non-Credit (Discount) Premium		1,120
Fair Value		$ 3,731

Acquisitions - Summary of Pro F

Acquisitions - Summary of Pro Forma Information (Details) - Limestone Bancorp, Inc. - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net interest income	$ 351,164	$ 317,226
Non-interest income	87,890	87,713
Net income	$ 130,153	$ 127,023

Acquisitions - Elite Agency , I

Acquisitions - Elite Agency , Inc Narrative (Details) $ in Thousands	Apr. 01, 2022 USD ($) location	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Intangible assets		$ 27,722	$ 15,284
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 , LLC Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 07, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Professional fees		$ 17,041	$ 12,094	$ 15,783
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		$ 46	1,600
Professional fees			$ 1,300

Acquisitions - Vantage Financ_2

Acquisitions - Vantage Financial Summary (Details) - USD ($) $ in Thousands	Mar. 07, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets
Other intangible assets		$ 27,722	$ 15,284
Liabilities
Goodwill		$ 362,169	292,397	$ 264,193
Vantage Financial LLC
Business Acquisition [Line Items]
Total purchase price	$ 82,893
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		$ 27,200

Parent Company Only Financial_3

Parent Company Only Financial Information - Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 111,680	$ 94,679
Other investment securities	63,421	51,609
Other assets	179,627	139,379
Total assets	9,157,382	7,207,304
Liabilities
Accrued expenses and other liabilities	134,189	103,804
Total liabilities	8,103,848	6,421,976
Total stockholders’ equity	1,053,534	785,328	$ 845,025	$ 575,673
Total liabilities and stockholders’ equity	9,157,382	7,207,304
Holding Company
Assets
Cash and due from banks	50	50
Interest-bearing deposits in subsidiary bank	17,099	14,961
Due from subsidiary bank	771	1,353
Other investment securities	237	234
Other assets	12,084	2,877
Total assets	1,120,085	805,713
Liabilities
Accrued expenses and other liabilities	3,342	3,336
Dividends payable	938	781
Mandatorily redeemable capital securities of subsidiary trusts and junior subordinated debentures	62,271	16,268
Total liabilities	66,551	20,385
Total stockholders’ equity	1,053,534	785,328
Total liabilities and stockholders’ equity	1,120,085	805,713
Holding Company | PEOPLES BANK
Assets
Investments in subsidiaries	1,072,238	774,294
Holding Company | Non-bank
Assets
Investments in subsidiaries	$ 17,606	$ 11,944

Parent Company Only Financial_4

Parent Company Only Financial Information - Condensed Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements
Total interest income	$ 439,403	$ 269,554	$ 184,789
Applicable income tax expense	31,763	27,349	9,415
Net income	113,363	101,292	47,555
Holding Company
Condensed Financial Statements
Interest and other income	11	39	73
Total interest income	48,211	53,899	30,823
Trust preferred securities expense	1,147	744	367
Intercompany management fees	1,873	1,379	1,303
Other expense	11,011	6,539	5,675
Total expense	14,031	8,662	7,345
Income before federal income taxes and equity in undistributed earnings of subsidiaries	34,180	45,237	23,478
Applicable income tax expense	(3,296)	(1,979)	(1,295)
Equity in undistributed earnings of subsidiaries	75,887	54,076	22,782
Net income	113,363	101,292	47,555
Holding Company | PEOPLES BANK
Condensed Financial Statements
Dividends from subsidiary bank	48,000	52,000	29,000
Holding Company | Non-bank
Condensed Financial Statements
Dividends from subsidiary bank	$ 200	$ 1,860	$ 1,750

Parent Company Only Financial_5

Parent Company Only Financial Information - Statements of Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating activities:
Net income	$ 113,363	$ 101,292	$ 47,555
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net	3,668	17,319	24,643
Gain on investment securities	3,700	61	862
Net cash provided by operating activities	143,643	119,839	156,420
Investing activities:
Business acquisitions, net of cash received	92,594	(85,791)	132,719
Net cash used in investing activities	(132,930)	(414,214)	(74,433)
Financing activities:
Purchase of treasury stock	(3,030)	(7,407)	0
Proceeds from issuance of common shares	1,264	1,226	906
Cash dividends paid	(51,845)	(42,372)	(31,002)
Net cash provided by financing activities	261,987	32,670	181,640
Net increase (decrease) in cash and cash equivalents	272,700	(261,705)	263,627
Cash and cash equivalents at beginning of period	154,022
Cash and cash equivalents at end of period	426,722	154,022
Holding Company
Operating activities:
Net income	113,363	101,292	47,555
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion, net	0	138	6,224
Equity in undistributed earnings of subsidiaries	(75,887)	(54,076)	(22,782)
Gain on investment securities	0	0	0
Other, net	(6,757)	5,008	3,930
Net cash provided by operating activities	30,719	52,362	34,927
Investing activities:
Net proceeds from sales and maturities of investment securities	0	0	10
Investment in subsidiaries	(39,414)	(13,084)	(16,282)
Decrease in receivable from subsidiary	40,086	12,279	16,344
Business acquisitions, net of cash received	27,763	(1,239)	(710)
Other, net	(1,636)	(262)	(1,998)
Net cash used in investing activities	26,799	(2,306)	(2,636)
Financing activities:
Purchase of treasury stock	(4,799)	(9,152)	(1,306)
Proceeds from issuance of common shares	1,264	1,226	906
Cash dividends paid	(51,845)	(42,371)	(31,002)
Net cash provided by financing activities	(55,380)	(50,297)	(31,402)
Net increase (decrease) in cash and cash equivalents	2,138	(241)	889
Cash and cash equivalents at beginning of period	15,011	15,252	14,363
Cash and cash equivalents at end of period	17,149	15,011	15,252
Supplemental cash flow information:
Interest paid	$ 676	$ 663	$ 331