v3.26.1
Stockholders' Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
The following table details the progression in Peoples’ common shares issued and treasury stock during the six months ended June 30, 2026:
 Common SharesTreasury
Stock
Shares at December 31, 202536,836,943 1,215,120 
Changes related to stock-based compensation awards:  
Restricted shares — (180,962)
Grant of unrestricted shares— (900)
Purchase of treasury stock— 6,464 
Disbursed out of treasury stock— (10,545)
Shares issued under dividend reinvestment plan23,901 — 
Shares issued under compensation plan for Boards of Directors
— (7,400)
Shares issued under employee stock purchase plan
— (13,078)
Shares at June 30, 202636,860,844 1,008,699 
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. As of June 30, 2026, Peoples had repurchased an aggregate of 501,999 common shares totaling $14.2 million under the share repurchase program. During the first six months of 2026, there were no purchases under the share repurchase program.
Under Peoples' 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 designated by Peoples' Board of Directors. At June 30, 2026, Peoples had no preferred shares issued or outstanding.
The following table details the cash dividends declared per common share during the first two quarters of 2026 and the comparable periods of 2025:
20262025
First quarter$0.41 $0.40 
Second quarter0.42 0.41 
Total dividends declared$0.83 $0.81 
On July 20, 2026, Peoples' Board of Directors declared a quarterly cash dividend of $0.42 per common share, payable on August 17, 2026, to shareholders of record on August 3, 2026.

Accumulated Other Comprehensive (Loss) Income
The following table details the change in the components of Peoples’ accumulated other comprehensive (loss) income during the six months ended June 30, 2026, as related items impact the income statement:
(Dollars in thousands)Unrealized (Loss) Gain on SecuritiesUnrealized Gain (Loss) on Cash Flow HedgesAccumulated Other Comprehensive (Loss) Income
Balance, December 31, 2025$(71,019)$391 $(70,628)
Amounts reclassified from AOCI, net of income taxes6,297 (243)6,054 
Other comprehensive income (loss), net of reclassifications and tax
(6,512)225 (6,287)
Balance, June 30, 2026$(71,234)$373 $(70,861)