Leases (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Leases [Abstract] |
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| Summary of Sales Type Lease Income |
The table below details Peoples' lease income: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | (Dollars in thousands) | September 30, 2026 | | September 30, 2025 | | September 30, 2026 | | September 30, 2025 | | Interest and fees on leases (a) | $ | 8,004 | | | $ | 9,520 | | | $ | 24,762 | | | $ | 30,005 | | | Lease income | 5,696 | | | 3,643 | | | 15,254 | | | 11,322 | | | | | | | | | | | Total lease income | $ | 13,700 | | | $ | 13,163 | | | $ | 40,016 | | | $ | 41,327 | |
(a)Included in "Interest and fees on loans and leases" in the Unaudited Consolidated Statements of Operations. For additional information, see "Note 4 Loans and Leases" of the Notes to the Unaudited Condensed Consolidated Financial Statements.
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| Summary of Sales Type Leases |
The following table summarizes the net investment in leases, which is included in "Loans and leases, net of deferred fees and costs" on the Unaudited Consolidated Balance Sheets: | | | | | | | | | | (Dollars in thousands) | September 30, 2026 | December 31, 2025 | | Lease payments receivable, at amortized cost | $ | 361,668 | | $ | 393,089 | | | Estimated residual values | 31,286 | | 33,125 | | | Initial direct costs | 4,685 | | 5,535 | | | Deferred revenue | (55,296) | | (66,100) | | | Net investment in leases | 342,343 | | 365,649 | | | Allowance for credit losses - leases | (13,300) | | (16,475) | | | Net investment in leases, after allowance for credit losses | $ | 329,043 | | $ | 349,174 | |
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| Summary of Sales Type Lease Maturity |
The following table summarizes the contractual maturities of leases: | | | | | | | (Dollars in thousands) | Balance | | Remaining three months ending December 31, 2026 | $ | 56,836 | | | Year ending December 31, 2027 | 65,126 | | | Year ending December 31, 2028 | 69,860 | | | Year ending December 31, 2029 | 63,147 | | | Year ending December 31, 2030 | 69,824 | | | Thereafter | 36,875 | | | Lease payments receivable, at amortized cost | $ | 361,668 | |
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| Summary of Lease Cost |
The table below details Peoples' lease expense, which is included in "Net occupancy and equipment expense" in the Unaudited Consolidated Statements of Operations: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | (Dollars in thousands) | September 30, 2026 | | September 30, 2025 | | September 30, 2026 | | September 30, 2025 | | Operating lease expense | $ | 629 | | | $ | 650 | | | $ | 1,882 | | | $ | 1,968 | | | Short-term lease expense | 359 | | | 335 | | | 1,114 | | | 1,114 | | | Variable lease expense | 16 | | | 11 | | | 51 | | | 29 | | | Total lease expense | $ | 1,004 | | | $ | 996 | | | $ | 3,047 | | | $ | 3,111 | |
The following table details the ROU assets, the lease liabilities and other information related to Peoples' operating leases at the dates shown: | | | | | | | | | | (Dollars in thousands) | September 30, 2026 | December 31, 2025 | | ROU assets: | | | | Other assets | $ | 7,894 | | $ | 9,340 | | | Lease liabilities: | | | | Accrued expenses and other liabilities | $ | 8,460 | | $ | 9,912 | | | Other information: | | | | Weighted-average remaining lease term | 8.7 years | 8.7 years | | Weighted-average discount rate | 4.17 | % | 4.16 | % | | Additions for ROU assets obtained during the year | $ | 153 | | $ | 1,333 | | | | | | | | | | |
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| Summary of Operating Lease Maturities |
The following table summarizes the maturity of remaining lease liabilities: | | | | | | | (Dollars in thousands) | Balance | | Remaining three months ending December 31, 2026 | $ | 620 | | | Year ending December 31, 2027 | $ | 2,208 | | | Year ending December 31, 2028 | $ | 1,625 | | | Year ending December 31, 2029 | $ | 1,173 | | | Year ending December 31, 2030 | $ | 671 | | | Thereafter | $ | 3,937 | | | Total undiscounted lease payments | $ | 10,234 | | | Imputed interest | $ | (1,774) | | | Total lease liabilities | $ | 8,460 | |
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