Accrued expenses and other liabilities

144,843

143,710

Goodwill

363,199

Other intangible assets

36,900

39,223

Other assets

166,070

171,292

Total assets

9,246,000

9,254,247

Deposits:

Non-interest-bearing

1,526,285

1,507,661

Interest-bearing

6,208,464

6,082,544

Total deposits

7,734,749

7,590,205

Short-term borrowings

19,228

193,474

Long-term borrowings

237,000

238,073

117,202

120,905

Total liabilities

8,108,179

8,142,657

Stockholders’ equity

Preferred shares, no par value, $50,000 shares authorized, no shares issued at March 31, 2025 or at December 31, 2024

0

Common shares, no par value, $50,000,000 shares authorized, $36,795,107 shares issued at March 31, 2025 and $36,782,601 shares issued at December 31, 2024, including at each date shares held in treasury

866,416

866,844

Retained earnings

398,218

388,109

Accumulated other comprehensive loss, net of deferred income taxes

(95,691)

(110,385)

Treasury stock, at cost, $1,220,262 shares at March 31, 2025 and $1,311,175 shares at December 31, 2024

(31,122)

(32,978)

Total stockholders’ equity

1,137,821

1,111,590

Total liabilities and stockholders’ equity

$ 9,246,000

$ 9,254,247

[1]	Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $237, respectively, at March 31, 2025, and $0 and $237, respectively, at December 31, 2024.
[2]	Also referred to throughout this Quarterly Report on Form 10-Q as "total loans" and "loans held for investment."
[3]	Also referred to throughout this Quarterly Report on Form 10-Q as "net loans."

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)	Mar. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Debt securities, available-for-sale, amortized cost	$ 1,199,677,000	$ 1,229,382,000
Debt securities, held-to-maturity, fair value	$ 683,315,000	$ 692,499,000
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)	36,795,107	36,782,601
Treasury stock (in shares)	1,220,262	1,311,175
Debt securities available for sale, allowance for credit loss	$ 0	$ 0
Debt securities held to maturity, allowance for credit loss	$ 237,000	$ 237,000

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Interest income:
Interest and fees on loans and leases	$ 107,302	$ 110,749
Interest and dividends on taxable investment securities	15,372	13,919
Interest on tax-exempt investment securities	968	1,003
Other interest income	900	1,922
Total interest income	124,542	127,593
Interest expense:
Interest on deposits	35,164	32,450
Interest on short-term borrowings	508	5,038
Interest on long-term borrowings	3,615	3,465
Total interest expense	39,287	40,953
Net interest income	85,255	86,640
Provision for credit losses	10,190	6,102
Net interest income after provision for credit losses	75,065	80,538
Non-interest income:
Insurance income	6,054	6,498
Lease income	3,446	2,016
Bank owned life insurance income	1,133	1,500
Mortgage banking income	396	321
Net loss on investment securities	(2)	(1)
Net loss on asset disposals and other transactions	(361)	(341)
Other non-interest income	1,472	918
Total non-interest income	27,099	25,779
Non-interest expense:
Salaries and employee benefit costs	39,821	38,893
Data processing and software expense	7,005	5,769
Net occupancy and equipment expense	5,612	6,283
Professional fees	3,087	2,967
Amortization of other intangible assets	2,213	2,788
Electronic banking expense	2,025	1,781
Federal Deposit Insurance Corporation ("FDIC") insurance expense	1,251	1,186
Other loan expenses	1,119	1,076
Operating lease expense	985	639
Franchise tax expense	929	881
Marketing expense	903	1,056
Communication expense	734	799
Travel and entertainment expense	500	608
Other non-interest expense	4,603	3,739
Total non-interest expense	70,787	68,465
Income before income taxes	31,377	37,852
Income tax expense	7,041	8,268
Net income	$ 24,336	$ 29,584
Earnings per common share - basic (in usd per share)	$ 0.69	$ 0.85
Earnings per common share - diluted (in usd per share)	$ 0.68	$ 0.84
Weighted-average number of common shares outstanding - basic (in shares)	34,895,723	34,740,349
Weighted-average number of common shares outstanding - diluted (in shares)	35,297,135	35,051,810
Cash dividends declared	$ 14,227	$ 13,745
Cash dividends declared per common share (in usd per share)	$ 0.40	$ 0.39
Electronic banking income
Non-interest income:
Revenue from contract with customer	$ 5,885	$ 6,046
Trust and investment income
Non-interest income:
Revenue from contract with customer	5,061	4,599
Deposit account service charges
Non-interest income:
Revenue from contract with customer	$ 4,015	$ 4,223

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Statement of Comprehensive Income [Abstract]
Net income	$ 24,336	$ 29,584
Available-for-sale investment securities:
Gross unrealized holding gain (loss) arising during the period	19,819	(9,887)
Related tax (expense) benefit	(4,620)	2,340
Reclassification adjustment for net gain included in net income	2	1
Related tax (expense) benefit	0	0
Net effect on other comprehensive income (loss)	15,201	(7,546)
Cash flow hedges:
Net loss arising during the period	(236)	(640)
Related tax benefit	55	149
Reclassification adjustment for net (loss) gain included in net income	(425)	896
Related tax benefit (expense)	99	(209)
Net effect on other comprehensive (loss) income	(507)	196
Total other comprehensive income (loss), net of tax	14,694	(7,350)
Total comprehensive income	$ 39,030	$ 22,234

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Shares	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning balance at Dec. 31, 2023	$ 1,053,534	$ 865,227	$ 327,237	$ (101,590)	$ (37,340)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	29,584		29,584
Other comprehensive income (loss), net of tax	(7,350)			(7,350)
Cash dividends declared	(13,745)		(13,745)
Reissuance of treasury stock for common share awards	0	(6,862)			6,862
Repurchase of treasury stock in connection with employee incentive program and compensation plan for Boards of Directors	(869)				(869)
Common shares repurchased under share repurchase program	(3,000)				(3,000)
Common shares issued under dividend reinvestment plan	455	455
Common shares issued under compensation plan for Boards of Directors	138	21			117
Common shares issued under employee stock purchase plan	231	60			171
Stock-based compensation	3,024	3,024
Ending balance at Mar. 31, 2024	1,062,002	861,925	343,076	(108,940)	(34,059)
Beginning balance at Dec. 31, 2024	1,111,590	866,844	388,109	(110,385)	(32,978)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	24,336
Other comprehensive income (loss), net of tax	14,694			14,694
Cash dividends declared	(14,227)		(14,227)
Reissuance of treasury stock for common share awards	0	(3,254)			3,254
Repurchase of treasury stock in connection with employee incentive program and compensation plan for Boards of Directors	(1,754)				(1,754)
Common shares issued under dividend reinvestment plan	335	335
Common shares issued under compensation plan for Boards of Directors	116	17			99
Common shares issued under employee stock purchase plan	301	44			257
Stock-based compensation	2,430	2,430
Ending balance at Mar. 31, 2025	$ 1,137,821	$ 866,416	$ 398,218	$ (95,691)	$ (31,122)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Statement of Cash Flows [Abstract]
Net cash provided by operating activities	$ 34,276	$ 37,009
Available-for-sale investment securities:
Purchases	0	(105,652)
Proceeds from sales	967	0
Proceeds from principal payments, calls and prepayments	28,401	26,976
Held-to-maturity investment securities:
Purchases	(14,909)	(5,114)
Proceeds from principal payments	36,515	9,268
Other investment securities:
Purchases	(2,646)	(7,302)
Proceeds from sales	11,367	8,028
Net increase in loans held for investment	(74,804)	(43,339)
Net expenditures for premises and equipment	(2,748)	(3,870)
Proceeds from sales of other real estate owned	210	0
Proceeds from bank owned life insurance contracts	0	486
Investment in limited partnership and tax credit funds	0	(2,566)
Net cash used in investing activities	(17,647)	(123,085)
Financing activities:
Net increase (decrease) in non-interest-bearing deposits	18,624	(99,286)
Net increase in interest-bearing deposits	125,655	273,573
Net decrease in short-term borrowings	(174,246)	(87,625)
Proceeds from long-term borrowings	3,295	26,770
Payments on long-term borrowings	(4,621)	(7,047)
Cash dividends paid	(14,561)	(13,893)
Purchase of treasury stock under share repurchase program	0	(3,000)
Purchase of treasury stock in connection with employee incentive program and compensation plan for Boards of Directors to be held as treasury stock	(1,754)	(869)
Proceeds from issuance of common shares	293	451
Net cash (used in) provided by financing activities	(47,315)	89,074
Net (decrease) increase in cash and cash equivalents	(30,686)	2,998
Cash and cash equivalents at beginning of period	217,664	426,722	$ 426,722
Cash and cash equivalents at end of period	186,978	429,720	217,664
Supplemental cash flow information:
Interest paid	37,531	37,614
Income taxes paid	6,070	70
Supplemental noncash disclosures:
Transfers from total loans to other real estate owned	0	64
Noncash recognition of new leases	$ 852	$ 509	$ 1,660

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2025
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation: The accompanying Unaudited Condensed Consolidated Financial Statements of Peoples Bancorp Inc. and its 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.) have been prepared in accordance with accounting principles generally accepted in the United States ("US GAAP") for interim financial information and the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not contain all of the information and footnotes required by US GAAP for annual financial statements and should be read in conjunction with Peoples’ Annual Report on Form 10-K for the fiscal year ended December 31, 2024 ("Peoples' 2024 Form 10-K"). The accounting and reporting policies followed in the presentation of the accompanying Unaudited Condensed Consolidated Financial Statements are consistent with those described in "Note 1 Summary of Significant Accounting Policies" of the Notes to the Consolidated Financial Statements included in Peoples’ 2024 Form 10-K, as updated by the information contained in this Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025 (this "Form 10-Q"). Management has evaluated all significant events and transactions that occurred after March 31, 2025 for potential recognition or disclosure in these Unaudited Condensed Consolidated Financial Statements. In the opinion of management, these Unaudited Condensed Consolidated Financial Statements reflect all adjustments necessary to present fairly such information for the periods and at the dates indicated. Such adjustments are normal and recurring in nature. Certain items in prior financial statements have been reclassified to conform to the current presentation, which had no impact on net income, total comprehensive income, net cash provided by operating activities or total stockholders’ equity. Intercompany accounts and transactions have been eliminated. The Consolidated Balance Sheet at December 31, 2024, contained herein, has been derived from the audited Consolidated Balance Sheet included in Peoples’ 2024 Form 10-K. The preparation of the condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Results of operations for interim periods are not necessarily indicative of the results to be expected for the full year, due in part to seasonal variations and unusual or infrequently occurring items. Operating Segments: 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. Peoples’ business activities are currently confined to a single reportable operating segment, which is community banking. Peoples’ single operating segment was determined based on the similar economic characteristics shared by the components of community banking. Peoples’ chief operating decision maker (“CODM”) is composed of its President and Chief Executive Officer, and its Chief Financial Officer. Peoples’ CODM considers all components of consolidated interest income, interest expense, non-interest income, and non-interest expense as presented in Peoples’ Consolidated Statements of Operations for the purposes of assessing performance of Peoples’ single reportable segment and allocating resources within its reportable segment. The CODM does not review segment revenue or expense information at a lower level than what is included in Peoples’ Consolidated Statements of Operations. New Accounting Pronouncements: From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard setting bodies that are adopted by Peoples as of the required effective dates. Refer to "Note 1 Summary of Significant Accounting Policies" of the Notes to the Consolidated Financial Statements included in Peoples’ 2024 Form 10-K. Unless otherwise discussed, management believes the impact of any recently issued standards, including those issued but not yet effective, will not have a material impact on Peoples' financial statements taken as a whole.

Fair Value of Assets and Liabilities

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

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 Unaudited Condensed 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 the 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" of the Notes to the Consolidated Financial Statements included in Peoples' 2024 Form 10-K.

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.

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 Unaudited Consolidated Balance Sheets by level in the fair value hierarchy.


	Recurring Fair Value Measurements at Reporting Date
	March 31, 2025				December 31, 2024
(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	$	14,343	$	—		$	15,196	$	—
U.S. government sponsored agencies	—		213,063			—		209,083
States and political subdivisions	—		195,505			—		196,301
Residential mortgage-backed securities	—		593,979			—		601,802
Commercial mortgage-backed securities	—		52,636			—		55,065
Bank-issued trust preferred securities	—		4,148			—		6,108

Total available-for-sale securities	$	14,343	$	1,059,331		$	15,196	$	1,068,359
Equity investment securities (a)	188		245			197		244
Nonqualified deferred compensation (a) (b)	5,164		—			4,898		—
Derivative assets (c)	—		14,092			—		18,743
Liabilities:
Derivative liabilities (d)	$	—	$	12,965		$	—	$	17,046

(a) Included in "Other investment securities" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 3 Investment Securities" of the Notes to the Unaudited Condensed Consolidated Financial Statements.

(b) Investments in the nonqualified deferred compensation plan consist of mutual funds.

(c) Included in "Other assets" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 10 Derivative Financial Instruments" of the Notes to the Unaudited Condensed Consolidated Financial Statements.

(d) Included in "Accrued expenses and other liabilities" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 10 Derivative Financial Instruments" of the Notes to the Unaudited Condensed Consolidated Financial Statements.

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, secured overnight funding rate ("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 or broker 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 quoted prices in active exchange markets for identical assets or liabilities (Level 1) or quoted prices in less active markets (Level 2).

Nonqualified deferred compensation: The underlying assets relating to the nonqualified deferred compensation plan are included in a trust and primarily consist of cash and exchange traded mutual funds, which values are based on market prices (Level 1).

Derivative Assets and Derivative Liabilities: The fair value for derivative financial instruments is determined based on third-party models, which leverages current market interest rates, 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 Unaudited Consolidated Balance Sheets by level in the fair value hierarchy at March 31, 2025 and December 31, 2024.


	Non-Recurring Fair Value Measurements at Reporting Date
	March 31, 2025				December 31, 2024
(Dollars in thousands)	Level 2		Level 3		Level 2		Level 3

Assets:
Collateral dependent loans	$	—	$	3,676	$	—	$	4,375
Loans held for sale (a)	924		—		1,499		—
Other real estate owned	—		—		—		5,891

(a) Loans held for sale are presented gross of a valuation allowance of $64 and $166 at March 31, 2025 and at December 31, 2024, 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, which Peoples then 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"): OREO, included in "Other assets" on the Unaudited 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).

Financial Instruments Not Required to be Measured or 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 Unaudited Consolidated Balance Sheets.


	Fair Value Measurements of Other Financial Instruments
(Dollars in thousands)	Fair Value Hierarchy Level	March 31, 2025				December 31, 2024
		Carrying Amount		Fair Value		Carrying Amount		Fair Value

Assets:
Cash and cash equivalents	1	$	186,978	186,978		$	217,664	$	217,664




Held-to-maturity investment securities:
Obligations of:
U.S. government sponsored agencies	2	222,698		215,377		233,302		223,294
States and political subdivisions (a)	2	142,513		112,471		142,691		110,848
Residential mortgage-backed securities	2	290,023		271,796		300,290		276,278
Commercial mortgage-backed securities	2	98,469		83,671		98,754		82,079

Total held-to-maturity securities		753,703		683,315		775,037		692,499


Other investment securities:
Other investment securities at cost:
Federal Home Loan Bank ("FHLB") stock	N/A	14,797		14,797		24,606		24,606
Federal Reserve Bank ("FRB") stock	N/A	27,114		27,114		27,114		27,114
Other investment securities (b)	N/A	3,814		3,814		3,073		3,073

Total other investment securities at cost		45,725		45,725		54,793		54,793





Loans and leases, net of deferred fees and costs (c)	3	6,428,526		6,346,657		6,358,003		6,240,751
Bank owned life insurance	2	144,843		144,843		143,710		143,710
Liabilities:
Deposits	2	$	7,734,749	$	6,891,785	$	7,590,205	$	6,713,360
Short-term borrowings	2	19,228		19,227		193,474		192,964
Long-term borrowings	2	237,000		258,355		238,073		258,195

(a) Obligations of states and political subdivisions are presented gross of an allowance for credit losses of $237 at both March 31, 2025 and December 31, 2024.

(b) "Other investment securities", as reported on the Unaudited Consolidated Balance Sheets, also included equity investment securities at March 31, 2025

and at December 31, 2024, 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.

(c) Loans and leases, net of deferred fees and costs, are presented gross of an allowance for credit losses of $65.2 million and $63.3 million at March 31, 2025 and at December 31, 2024, respectively.

For certain financial assets and liabilities, carrying value approximates fair value due to the nature of the financial instrument. These financial instruments include cash and cash equivalents and overnight borrowings. Peoples used the following methods and assumptions in estimating the fair value of the following financial instruments:

Cash and Cash Equivalents: Cash and cash equivalents include cash on hand, balances due from other banks, interest-bearing deposits in other banks, federal funds sold and other short-term investments with original maturities of 90 days or less. The carrying amount for cash and cash equivalents balances are 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 compares them 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. FHLB and FRB stock are both recorded at cost.

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 considers interest rate, credit and market factors in estimating the fair value of loans and leases (Level 3). Fair values for loans and leases are estimated using a discounted cash flow methodology. The discount rates take into account interest rates currently being offered to customers for loans and leases with similar terms, the credit risk associated with the loans and leases and other market factors, including liquidity.

Bank Owned Life Insurance: Peoples' bank owned life insurance policies are recorded at their cash surrender value (Level 2). Peoples recognizes tax-exempt income from the periodic increases in the cash surrender value of these policies and from death benefits.

Deposits: The fair value of fixed-maturity certificates of deposit ("CDs") is estimated using a discounted cash flow calculation based on current rates offered for deposits of similar remaining maturities. Demand and other non-fixed-maturity deposits are estimated using a discounted cash flow calculation based on maturity, attrition and re-pricing assumptions (Level 2).

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 financial 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 fair values described above are not intended to represent the aggregate fair value of Peoples.

Investment Securities

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Investment Securities

Available-for-sale

The following table summarizes Peoples' available-for-sale investment securities:


(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2025
Obligations of:
U.S. Treasury and government agencies	$	14,250	$	154	$	(61)	$	14,343
U.S. government sponsored agencies	223,585		239		(10,761)		213,063
States and political subdivisions	223,325		39		(27,859)		195,505
Residential mortgage-backed securities	673,730		1,799		(81,550)		593,979
Commercial mortgage-backed securities	60,287		1		(7,652)		52,636
Bank-issued trust preferred securities	4,500		—		(352)		4,148

Total available-for-sale securities	$	1,199,677	$	2,232	$	(128,235)	$	1,073,674
December 31, 2024
Obligations of:
U.S. Treasury and government agencies	$	15,317	$	87	$	(208)	$	15,196
U.S. government sponsored agencies	224,167		53		(15,137)		209,083
States and political subdivisions	225,074		16		(28,789)		196,301
Residential mortgage-backed securities	693,886		1,391		(93,475)		601,802
Commercial mortgage-backed securities	64,438		36		(9,409)		55,065
Bank-issued trust preferred securities	6,500		—		(392)		6,108

Total available-for-sale securities	$	1,229,382	$	1,583	$	(147,410)	$	1,083,555

The gross gains and losses realized by Peoples from sales or prepayments of available-for-sale securities for the periods ended March 31 were as follows:


	Three Months Ended
	March 31,
(Dollars in thousands)	2025		2024
Gross gains realized	$	25	$	—
Gross losses realized	27		1
Net loss realized	$	(2)	$	(1)

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 have been in a continuous unrealized loss position for the periods identified:


	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
March 31, 2025
Obligations of:
U.S. Treasury and government agencies	$	12,281	$	46	8	$	2,062	$	15	9	$	14,343	$	61
U.S. government sponsored agencies	141,400		3,090		23	71,663		7,671		13	213,063		10,761
States and political subdivisions	30,058		910		35	165,447		26,949		154	195,505		27,859
Residential mortgage-backed securities	116,813		1,313		54	477,184		80,237		255	593,997		81,550
Commercial mortgage-backed securities	8,369		73		6	44,267		7,579		23	52,636		7,652
Bank-issued trust preferred securities	—		—		—	3,648		352		2	3,648		352

Total	$	308,921	$	5,432	126	$	764,271	$	122,803	456	$	1,073,192	$	128,235
December 31, 2024
Obligations of:
U.S. Treasury and government agencies	$	10,003	$	174	11	$	2,299	$	34	10	$	12,302	$	208
U.S. government sponsored agencies	130,518		5,816		27	70,982		9,321		13	201,500		15,137
States and political subdivisions	28,400		1,188		55	160,210		27,601		138	188,610		28,789
Residential mortgage-backed securities	85,043		2,300		69	482,609		91,175		256	567,652		93,475
Commercial mortgage-backed securities	2,868		93		5	46,619		9,316		24	49,487		9,409
Bank-issued trust preferred securities	493		7		1	5,614		385		3	6,107		392

Total	$	257,325	$	9,578	168	$	768,333	$	137,832	444	$	1,025,658	$	147,410

Management evaluates available-for-sale investment securities for an allowance for credit losses on a quarterly basis. At March 31, 2025, management concluded that no individual securities at an unrealized loss position required an allowance for credit losses. At March 31, 2025, 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 March 31, 2025 and December 31, 2024 were attributable to changes in market interest rates and spreads since the securities were purchased, and were not credit-related losses.

The unrealized loss with respect to the two bank-issued trust preferred securities that had been in an unrealized loss position for 12 months or more at March 31, 2025 was attributable to the subordinated nature of the trust preferred securities.

The table below presents the amortized cost, fair value and total weighted-average yield of available-for-sale securities by contractual maturity at March 31, 2025. The weighted-average yields are based on the amortized cost. 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	$	1,036		$	1,270		$	6,498		$	5,446		$	14,250
U.S. government sponsored agencies	1,490			67,658			72,103			82,334			223,585
States and political subdivisions	7,982			39,143			79,366			96,834			223,325
Residential mortgage-backed securities	6			4,110			52,483			617,131			673,730
Commercial mortgage-backed securities	452			10,607			26,047			23,181			60,287
Bank-issued trust preferred securities	—			1,500			3,000			—			4,500

Total available-for-sale securities	$	10,966		$	124,288		$	239,497		$	824,926		$	1,199,677
Fair value
Obligations of:
U.S. Treasury and government agencies	$	1,034		$	1,266		$	6,609		$	5,434		$	14,343
U.S. government sponsored agencies	1,453			62,924			70,186			78,500			213,063
States and political subdivisions	7,936			37,015			67,795			82,759			195,505
Residential mortgage-backed securities	6			4,025			49,051			540,897			593,979
Commercial mortgage-backed securities	452			9,884			22,508			19,792			52,636
Bank-issued trust preferred securities	—			1,463			2,685			—			4,148

Total available-for-sale securities	$	10,881		$	116,577		$	218,834		$	727,382		$	1,073,674
Total weighted-average yield	2.93		%	2.30		%	2.97		%	2.76		%	2.76		%

Held-to-maturity

The following table summarizes Peoples’ held-to-maturity investment securities:


(Dollars in thousands)	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2025
Obligations of:
U.S. government sponsored agencies	$	222,698	$	—	$	532	$	(7,853)	$	215,377
States and political subdivisions	142,513		(237)		125		(29,930)		112,471
Residential mortgage-backed securities	290,023		—		1,085		(19,312)		271,796
Commercial mortgage-backed securities	98,469		—		—		(14,798)		83,671
Total held-to-maturity investment securities	$	753,703	$	(237)	$	1,742	$	(71,893)	$	683,315
December 31, 2024
Obligations of:
U.S. government sponsored agencies	$	233,302	$	—	$	219	$	(10,227)	$	223,294
States and political subdivisions	142,691		(237)		110		(31,716)		110,848
Residential mortgage-backed securities	300,290		—		281		(24,293)		276,278
Commercial mortgage-backed securities	98,754		—		—		(16,675)		82,079
Total held-to-maturity investment securities	$	775,037	$	(237)	$	610	$	(82,911)	$	692,499

There were no sales of held-to-maturity investment securities during the periods ended March 31, 2025 or December 31, 2024.

Management evaluates held-to-maturity investment securities for an allowance for credit losses on a quarterly basis. The majority of People's held-to maturity investment securities are mortgage-backed securities, for which an allowance for credit losses was not recorded. Peoples calculated the allowance for credit losses for state and political subdivisions using cumulative default rate averages for municipal securities. Peoples reported $0.2 million of allowance for credit losses for held-to-maturity securities at both March 31, 2025, and December 31, 2024.

The following table presents a summary of held-to-maturity investment securities that had been in a continuous unrealized loss position for the periods identified:


	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
March 31, 2025
Obligations of:
U.S. government sponsored agencies	$	178,241	$	947	20	$	37,136	$	6,906	10	$	215,377	$	7,853
States and political subdivisions	1,228		76		1	108,357		29,854		66	109,585		29,930
Residential mortgage-backed securities	140,441		1,030		16	131,355		18,282		43	271,796		19,312
Commercial mortgage-backed securities	8,764		109		2	74,908		14,689		32	83,672		14,798
Total	$	328,674	$	2,162	39	$	351,756	$	69,731	151	$	680,430	$	71,893
December 31, 2024
Obligations of:
U.S. government sponsored agencies	$	150,390	$	2,464	29	$	38,901	$	7,763	11	$	189,291	$	10,227
States and political subdivisions	957		44		1	106,716		31,672		66	107,673		31,716
Residential mortgage-backed securities	116,576		2,808		27	130,556		21,485		43	247,132		24,293
Commercial mortgage-backed securities	9,603		1,381		5	70,476		15,294		29	80,079		16,675
Total	$	277,526	$	6,697	62	$	346,649	$	76,214	149	$	624,175	$	82,911

The table below presents the amortized cost, fair value and total weighted-average yield of held-to-maturity investment securities by contractual maturity at March 31, 2025. 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% at March 31, 2025. In some cases, the issuers may have the right to call or prepay obligations without call or prepayment penalties prior to the contractual maturity date.


(Dollars in thousands)	Within 1 Year		1 to 5 Years		5 to 10 Years		Over 10 Years		Total
Amortized cost
Obligations of:
U.S. government sponsored agencies	$	2,935	$	3,498	$	76,118	$	140,147	$	222,698
States and political subdivisions	2,798		5,830		22,131		111,754		142,513
Residential mortgage-backed securities	—		147		3,811		286,065		290,023
Commercial mortgage-backed securities	2,000		10,838		34,108		51,523		98,469
Total held-to-maturity investment securities	$	7,733	$	20,313	$	136,168	$	589,489	$	753,703
Fair value
Obligations of:
U.S. government sponsored agencies	$	2,853	$	3,347	$	75,883	$	133,294	$	215,377
States and political subdivisions	2,790		5,614		18,188		85,879		112,471
Residential mortgage-backed securities	—		146		3,411		268,239		271,796
Commercial mortgage-backed securities	2,000		9,964		29,780		41,927		83,671
Total held-to-maturity investment securities	$	7,643	$	19,071	$	127,262	$	529,339	$	683,315
Total weighted-average yield	1.79%		1.90%		3.79%		3.94%		3.83%

Other Investment Securities

Peoples' other investment securities on the Unaudited Consolidated Balance Sheets consist largely of shares of FHLB stock and of FRB stock.

The following table summarizes the carrying value of Peoples' other investment securities:


(Dollars in thousands)	March 31, 2025		December 31, 2024
FHLB stock	$	14,797	$	24,606
FRB stock	27,114		27,114
Nonqualified deferred compensation	5,164		4,898
Equity investment securities	3,378		2,645
Other investment securities	869		869
Total other investment securities	$	51,322	$	60,132

During the three months ended March 31, 2025, Peoples redeemed $11.4 million of FHLB stock in order to be in compliance with the requirements of the FHLB. Peoples purchased $1.6 million of additional FHLB stock during the three months ended March 31, 2025, as a result of the FHLB's capital requirements on FHLB advances.

For the three months ended March 31, 2025 and 2024, Peoples recorded the change in the fair value of equity investment securities held during the period in "Other non-interest income", resulting in an unrealized loss of $9,000 and an unrealized gain of $47,000, respectively.

At March 31, 2025, 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 at March 31, 2025.

Pledged Securities

Peoples has 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 has also pledged available-for-sale investment securities to secure additional borrowing capacity at the FHLB and the FRB.

The following table summarizes the carrying amount of Peoples' pledged securities:


	Carrying Amount
(Dollars in thousands)	March 31, 2025		December 31, 2024

Securing public and trust department deposits, and repurchase agreements:
Available-for-sale	$	547,471	$	505,963
Held-to-maturity	627,605		563,014



Securing additional borrowing capacity at the FHLB and the FRB:
Available-for-sale	3,116		3,119
Held-to-maturity	1,208		1,215

Accrued Interest

Accrued interest receivable is not included in investment securities balances, and is presented in the “Other assets” line of the Unaudited Consolidated Balance Sheets, with no recorded allowance for credit losses. Interest receivable on investment securities was $10.9 million at March 31, 2025 and $9.9 million at December 31, 2024.

Loans and Leases

3 Months Ended

Mar. 31, 2025

Receivables [Abstract]

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 Financial, LLC ("Vantage") subsidiary.

The major classifications of loan balances (in each case, net of deferred fees and costs) excluding loans held for sale, were as follows:


(Dollars in thousands)	March 31, 2025		December 31, 2024
Construction	$	319,104	$	328,388
Commercial real estate, other	2,230,538		2,156,013
Commercial and industrial	1,343,827		1,347,645
Premium finance	264,080		269,435
Leases	395,454		406,598
Residential real estate	848,168		835,101
Home equity lines of credit	235,409		232,661
Consumer, indirect	680,260		669,857
Consumer, direct	110,639		111,052
Deposit account overdrafts	1,047		1,253
Total loans, at amortized cost	$	6,428,526	$	6,358,003

The table above includes net deferred loan origination costs of $20.4 million and $20.2 million at March 31, 2025 and at December 31, 2024, respectively. The remaining unamortized net discount included in the amortized cost of loans and leases was $15.8 million and $19.5 million at March 31, 2025 and at December 31, 2024, respectively.

Accrued interest receivable is not included within the loan balances, but is presented in the “Other assets” line of the Unaudited Consolidated Balance Sheets, with no recorded allowance for credit losses. Total interest receivable on loans was $24.1 million at March 31, 2025 and $23.1 million at December 31, 2024.

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 of loans delinquent for 90 days or more and accruing was as follows:


	March 31, 2025				December 31, 2024
(Dollars in thousands)	Nonaccrual (a)		Accruing Loans 90+ Days Past Due		Nonaccrual (a)		Accruing Loans 90+ Days Past Due

Commercial real estate, other	5,378		284		7,136		227
Commercial and industrial	5,747		106		6,809		78
Premium finance	—		2,502		—		4,947
Leases	12,079		218		8,850		803
Residential real estate	8,163		853		7,329		2,166
Home equity lines of credit	1,537		47		1,498		213
Consumer, indirect	2,521		77		2,374		159
Consumer, direct	203		120		133		44
Total loans, at amortized cost	$	35,628	$	4,207	$	34,129	$	8,637

(a) There were $2.6 million of nonaccrual loans for which there was no allowance for credit losses at March 31, 2025 and $5.7 million of nonaccrual loans for which there was no allowance for credit losses at December 31, 2024.

During the first three months of 2025, nonaccrual loans increased compared to at December 31, 2024, which was primarily due to an uptick in the volume of leases placed on nonaccrual during the quarter, partially offset by improvements in commercial real estate loans and commercial and industrial loans. The decrease in accruing loans 90+ days past due at March 31, 2025, when compared to at December 31, 2024, was primarily due to reductions in accruing 90+ days past due premium finance loans and residential real estate loans of $2.4 million and $1.3 million, respectively. The delinquent premium finance loans carry low credit risk, due to the ability to cancel premiums and recover the majority of the receivable from the insurer.

The following table presents the aging of the amortized cost of past due loans:


	Loans Past Due								Current Loans		Total Loans
(Dollars in thousands)	30 - 59 days		60 - 89 days		90 + Days		Total
March 31, 2025
Construction	$	—	$	—	$	—	$	—	$	319,104	$	319,104
Commercial real estate, other	1,967		2,605		2,544		7,116		2,223,422		2,230,538
Commercial and industrial	1,119		1,587		3,740		6,446		1,337,381		1,343,827
Premium finance	2,005		1,816		2,502		6,323		257,757		264,080
Leases	31,007		3,260		11,565		45,832		349,622		395,454
Residential real estate	10,129		2,306		4,005		16,440		831,728		848,168
Home equity lines of credit	1,430		357		865		2,652		232,757		235,409
Consumer, indirect	6,486		803		1,287		8,576		671,684		680,260
Consumer, direct	514		149		208		871		109,768		110,639
Deposit account overdrafts	—		—		—		—		1,047		1,047
Total loans, at amortized cost	$	54,657	$	12,883	$	26,716	$	94,256	$	6,334,270	$	6,428,526
December 31, 2024
Construction	$	—	$	—	$	—	$	—	$	328,388	$	328,388
Commercial real estate, other	1,300		1,585		6,008		8,893		2,147,120		2,156,013
Commercial and industrial	1,651		583		4,551		6,785		1,340,860		1,347,645
Premium finance	3,863		456		4,947		9,266		260,169		269,435
Leases	10,941		5,241		9,575		25,757		380,841		406,598
Residential real estate	11,481		3,038		5,271		19,790		815,311		835,101
Home equity lines of credit	1,473		317		1,093		2,883		229,778		232,661
Consumer, indirect	7,568		1,522		1,326		10,416		659,441		669,857
Consumer, direct	884		113		138		1,135		109,917		111,052
Deposit account overdrafts	—		—		—		—		1,253		1,253
Total loans, at amortized cost	$	39,161	$	12,855	$	32,909	$	84,925	$	6,273,078	$	6,358,003

Delinquency trends increased slightly, as 98.5% of Peoples' loan portfolio was considered “current” at March 31, 2025, compared to 98.7% at December 31, 2024.

Pledged Loans

Peoples has pledged certain loans secured by one-to-four family and multifamily residential mortgages, home equity lines of credit and commercial real estate loans under a blanket collateral agreement to secure borrowings from the FHLB. Peoples also has pledged eligible commercial and industrial loans to secure borrowings with the FRB. Loans pledged are summarized as follows:


(Dollars in thousands)	March 31, 2025		December 31, 2024
Loans pledged to FHLB	$	1,205,884	$	1,218,496
Loans pledged to FRB	604,590		527,989

Credit Quality Indicators

As discussed in "Note 1 Summary of Significant Accounting Policies" of the Notes to the Consolidated Financial Statements included in Peoples' 2024 Form 10-K, 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 involve 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 loan if required, for any weakness that may exist.

“Special Mention” (grade 5): Loans in this risk grade are the equivalent of the regulatory definition of “Other Assets Especially Mentioned.” 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 a secondary source of repayment. If left uncorrected, these potential weaknesses may result in noticeable deterioration of the repayment prospects for the loan or in Peoples' credit position.

“Substandard” (grade 6): Loans in this risk grade are inadequately protected by the borrower's current financial condition and payment capability or 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 weaknesses are not corrected.

“Doubtful” (grade 7): Loans in this risk grade 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 currently 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 each of these loans as an estimated loss is deferred until its more exact status may be determined.

“Loss” (grade 8): Loans in this risk grade are considered to be non-collectible and of such little value that their continuance as bankable assets is not warranted. This does not mean a 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 during the period in which the loan becomes uncollectible. Consequently, Peoples typically does not maintain a recorded investment in loans within this 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. Leases are categorized as "special mention", "substandard", or "loss" based upon delinquency status and the prospect of collecting the remaining net investment balance owed under the lease. 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 table summarizes the risk category of loans within Peoples' loan portfolio, including acquired loans, based upon the most recent analysis performed at March 31, 2025:



	Term Loans at Amortized Cost by Origination Year														Revolving Loans Converted to Term
(Dollars in thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans				Total Loans
Construction
Pass	$	7,760	$	90,100	$	170,833	$	34,732	$	6,762	$	6,133	$	—	$	234	$	316,320
Special mention	—		—		—		—		—		113		—		—		113
Substandard	—		—		1,149		1,522		—		—		—		—		2,671


Total	7,760		90,100		171,982		36,254		6,762		6,246		—		234		319,104
Current period gross charge-offs	—		—		—		—		—		—						—
Commercial real estate, other
Pass	93,323		148,818		276,560		389,546		398,581		765,684		44,974		2,275		2,117,486
Special mention	—		416		2,150		7,361		10,834		25,438		285		54		46,484
Substandard	—		144		1,654		5,633		11,770		44,743		724		2,476		64,668
Doubtful	—		—		—		—		—		1,898		—		—		1,898
Loss	—		—		—		—		—		2		—		—		2
Total	93,323		149,378		280,364		402,540		421,185		837,765		45,983		4,805		2,230,538
Current period gross charge-offs	—		—		—		156		—		59						215



	Term Loans at Amortized Cost by Origination Year							Revolving Loans Converted to Term
(Dollars in thousands)	2025	2024	2023	2022	2021	Prior	Revolving Loans		Total Loans
Commercial and industrial
Pass	38,053	287,732	201,501	125,281	137,844	237,175	235,900	2,130	1,263,486
Special mention	—	760	9,005	9,440	4,132	1,795	27,397	5,500	52,529
Substandard	—	272	248	5,504	8,192	6,491	4,938	148	25,645
Doubtful	—	—	—	2,015	—	152	—	100	2,167

Total	38,053	288,764	210,754	142,240	150,168	245,613	268,235	7,878	1,343,827
Current period gross charge-offs	—	—	—	—	49	331			380
Premium Finance
Pass	120,789	140,876	2,361	54	—	—	—	—	264,080




Total	120,789	140,876	2,361	54	—	—	—	—	264,080
Current period gross charge-offs	—	33	14	24	—	—			71
Leases
Pass	42,962	140,613	116,131	53,851	21,147	5,716	—	—	380,420
Special mention	—	742	2,118	572	137	3	—	—	3,572
Substandard	—	2,201	2,765	2,183	583	113	—	—	7,845
Doubtful	—	336	1,980	1,136	52	113	—	—	3,617

Total	42,962	143,892	122,994	57,742	21,919	5,945	—	—	395,454
Current period gross charge-offs	—	191	1,938	2,690	574	261			5,654
Residential real estate
Pass	20,021	76,315	64,708	83,506	125,460	466,807	—	—	836,817

Substandard	—	167	835	260	985	9,069	—	—	11,316

Loss	—	5	7	9	—	14	—	—	35
Total	20,021	76,487	65,550	83,775	126,445	475,890	—	—	848,168
Current period gross charge-offs	—	—	27	—	54	61			142
Home equity lines of credit
Pass	8,555	55,513	35,860	37,688	26,717	69,940	23	3,407	234,296

Substandard	—	—	106	296	16	688	—	—	1,106
Loss	—	—	—	—	—	7	—	—	7
Total	8,555	55,513	35,966	37,984	26,733	70,635	23	3,407	235,409
Current period gross charge-offs	—	—	—	—	—	—			—
Consumer, indirect
Pass	77,083	225,426	158,529	130,515	47,959	37,984	—	—	677,496

Substandard	—	433	581	727	516	472	—	—	2,729

Loss	—	1	2	8	15	9	—	—	35
Total	77,083	225,860	159,112	131,250	48,490	38,465	—	—	680,260
Current period gross charge-offs	14	635	637	388	134	58			1,866
Consumer, direct
Pass	19,982	33,921	22,842	18,622	8,124	6,840	—	—	110,331



	Term Loans at Amortized Cost by Origination Year													Revolving Loans Converted to Term
(Dollars in thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans		Total Loans
Substandard	—		38		76		87		29		68		—	—	298

Loss	—		2		1		6		—		1		—	—	10
Total	19,982		33,961		22,919		18,715		8,153		6,909		—	—	110,639
Current period gross charge-offs	11		48		23		57		9		7				155
Deposit account overdrafts	1,047		—		—		—		—		—		—	—	1,047
Current period gross charge-offs	277		—		—		—		—		—				277
Total loans, at amortized cost	429,575		1,204,831		1,072,002		910,554		809,855		1,687,468		314,241	16,324	6,428,526
Total current period gross charge-offs	$	302	$	907	$	2,639	$	3,315	$	820	$	777			$	8,760

The following table summarizes the risk category of loans within Peoples' loan portfolio, including acquired loans, based upon the then most recent analysis performed at December 31, 2024:



	Term Loans at Amortized Cost by Origination Year
(Dollars in thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
Construction
Pass	$	69,862	$	162,605	$	47,133	$	30,592	$	1,845	$	13,540	$	—	$	—	$	325,577
Special mention	—		—		—		—		—		115		—		—		115
Substandard	—		1,161		1,535		—		—		—		—		—		2,696


Total	69,862		163,766		48,668		30,592		1,845		13,655		—		—		328,388
Current period gross charge-offs	—		—		—		—		—		—						—
Commercial real estate, other
Pass	130,971		219,105		366,256		337,905		201,367		751,415		41,122		—		2,048,141
Special mention	271		2,923		11,876		7,197		5,107		10,689		288		—		38,351
Substandard	145		1,073		2,460		18,851		9,234		37,136		612		—		69,511
Doubtful	—		—		—		—		—		10		—		—		10

Total	131,387		223,101		380,592		363,953		215,708		799,250		42,022		—		2,156,013
Current period gross charge-offs	—		—		376		—		—		55						431
Commercial and industrial
Pass	311,631		202,929		134,558		148,288		66,102		152,143		229,821		4,779		1,245,472
Special mention	779		9,019		10,886		4,449		12,049		13,537		19,465		—		70,184
Substandard	200		99		4,791		11,429		3,850		4,430		5,045		49		29,844
Doubtful	—		—		1,987		—		—		158		—		—		2,145

Total	312,610		212,047		152,222		164,166		82,001		170,268		254,331		4,828		1,347,645
Current period gross charge-offs	—		14		—		17		105		532						668
Premium finance
Pass	265,504		3,837		94		—		—		—		—		—		269,435
Total	265,504		3,837		94		—		—		—		—		—		269,435
Current period gross charge-offs	67		109		33		—		—		—						209



	Term Loans at Amortized Cost by Origination Year
(Dollars in thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans	Revolving Loans Converted to Term	Total Loans
Leases
Pass	175,449		125,664		61,064		24,181		4,661		2,153		—	—	393,172
Special mention	791		1,529		1,140		365		5		—		—	—	3,830
Substandard	351		2,108		1,777		193		8		—		—	—	4,437
Doubtful	170		2,127		1,859		624		110		269		—	—	5,159

Total	176,761		131,428		65,840		25,363		4,784		2,422		—	—	406,598
Current period gross charge-offs	1,315		5,623		5,421		2,308		301		138				15,106
Residential real estate
Pass	77,130		66,712		85,045		128,359		52,090		414,574		—	—	823,910

Substandard	321		1,088		161		980		306		8,087		—	—	10,943

Loss	—		4		—		—		—		244		—	—	248
Total	77,451		67,804		85,206		129,339		52,396		422,905		—	—	835,101
Current period gross charge-offs	—		—		46		5		—		237				288
Home equity lines of credit
Pass	54,724		37,417		37,752		27,430		16,583		57,303		24	731	231,233

Substandard	—		138		163		16		34		1,069		—	—	1,420

Loss	—		—		—		—		—		8		—	—	8
Total	54,724		37,555		37,915		27,446		16,617		58,380		24	731	232,661
Current period gross charge-offs	—		—		—		—		—		11				11
Consumer, indirect
Pass	239,584		176,115		148,210		56,846		30,231		16,129		—	—	667,115

Substandard	269		557		681		618		312		251		—	—	2,688

Loss	14		—		16		14		—		10		—	—	54
Total	239,867		176,672		148,907		57,478		30,543		16,390		—	—	669,857
Current period gross charge-offs	497		2,207		1,880		691		141		763				6,179
Consumer, direct
Pass	45,978		25,605		21,544		9,614		4,180		3,884		—	—	110,805

Substandard	18		65		46		29		4		73		—	—	235

Loss	—		4		—		—		—		8		—	—	12
Total	45,996		25,674		21,590		9,643		4,184		3,965		—	—	111,052
Current period gross charge-offs	2		154		212		51		12		247				678
Deposit account overdrafts	1,253		—		—		—		—		—		—	—	1,253
Current period gross charge-offs	1,542		$	—	$	—	$	—	$	—	$	—			1,542
Total loans, at amortized cost	1,375,415		1,041,884		941,034		807,980		408,078		1,487,235		296,377	5,559	6,358,003
Current period gross charge-offs	$	3,423	$	8,107	$	7,968	$	3,072	$	559	$	1,983			$	25,112

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 multi-family complexes, warehouse buildings, industrial buildings, land under development, and other commercial 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 multifamily complexes, retail facilities, office buildings and complexes, warehouses, industrial buildings, land under development, as well as other commercial 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 most often 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:


(Dollars in thousands)	March 31, 2025		December 31, 2024


Commercial real estate, other	$	1,887		$	2,764

Leases	1,789			652
Commercial and industrial	—			959




Total collateral dependent loans	$	3,676		$	4,375

The decrease in collateral dependent loans at March 31, 2025, compared to December 31, 2024, was primarily driven by the payoff of one commercial real estate loan and one commercial and industrial loan, which in aggregate totaled approximately $3.0 million. This was partially offset by collateral dependent leases added during the first quarter.

Modifications for Borrowers Experiencing Financial Difficulty

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 tables display the amortized cost of loans that were restructured during the three months ended March 31, 2025 and March 31, 2024, presented by loan classification.


	Payment Delay (Only)
(Dollars in thousands)	Payment Deferral		Term Extension		Principal Forgiveness		Total		Percentage of Total by Loan Category(a)(b)(c)

During the Three Months Ended March 31, 2025

Commercial real estate	$	—	$	2,445	—		$	2,445	0.11	%
Commercial and industrial	—		5,646		—		5,646		0.42	%
Leasing	12		—		68		80		0.02	%





Total	$	12	$	8,091	$	68	$	8,171	0.13	%


During the Three Months Ended March 31, 2024

Commercial real estate	—		565		—		565		0.03	%
Commercial and industrial	—		10,203		—		10,203		0.84	%
Leasing	25		—		—		25		0.01	%
Residential real estate	—		76		—		76		0.01	%




Total	$	25	$	10,844	$	—	$	10,869	0.18	%
(a) 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. (b) The table presented above excludes loans that were paid off or otherwise no longer included in the loan portfolio as of period end.
(c) Each with --% not meaningful

The following tables summarize the financial impacts of loan modifications and payment deferrals made to loans during the three months ended March 31, 2025 and March 31, 2024, presented by loan classification.


						Weighted-Average Term Extension (in months)
During the Three Months Ended March 31, 2025

Commercial real estate						3
Commercial and industrial						8






During the Three Months Ended March 31, 2024

Commercial real estate						6
Commercial and industrial						6
Leasing						9
Residential real estate						2

The following tables display the amortized cost of loans that received a completed modification or payment deferral within the previous 12 months and that had a payment default in the periods 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.


	Term Extension(a)
For the Three Months Ended March 31, 2025


Commercial and industrial	117
Leasing	638





Total loans that subsequently defaulted	$	755













For the Three Months Ended March 31, 2024


Commercial and industrial	648






Total loans that subsequently defaulted	$	648














(a) 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 during the 12 months prior to March 31, 2025 and March 31, 2024, respectively, presented by classification and class of financing receivable.


As of March 31, 2025
(Dollars in thousands)	30-59 Days Delinquent		60-89 Days Delinquent		90+ Days Delinquent		Total Delinquent		Current		Total

Commercial real estate	1,058		69		—		1,127		1,887		3,014
Commercial and industrial	—		—		117		117		7,789		7,906
Leasing	300		—		638		938		250		1,188
Residential real estate	—		—		—		—		15		15
Home equity lines of credit	—		—		—		—		158		158
Consumer, indirect	—		—		12		12		—		12


Total loans modified(a)	$	1,358	$	69	$	767	$	2,194	$	10,099	$	12,293
(a) Represents the amortized cost basis as of period end.


As of March 31, 2024
(Dollars in thousands)	30-59 Days Delinquent		60-89 Days Delinquent		90+ Days Delinquent		Total Delinquent		Current		Total
Construction	$	—	$	—	$	—	$	—	$	70	$	70
Commercial real estate	193		—		—		193		2,443		2,636
Commercial and industrial	—		667		648		1,315		12,752		14,067
Leasing	—		—		—		—		25		25
Residential real estate	76		—		—		76		24		100
Home equity lines of credit	—		—		—		—		207		207



Total loans modified(a)	$	269	$	667	$	648	$	1,584	$	15,521	$	17,105

(a) Represents the amortized cost basis as of period end.

Allowance for Credit Losses

As discussed in "Note 1 Summary of Significant Accounting Policies" of the Notes to the Consolidated Financial Statements included in Peoples' 2024 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 the three months ended March 31, 2025 and March 31, 2024 are summarized below:


(Dollars in thousands)	Beginning Balance, December 31, 2024		Initial Allowance for Acquired PCD Assets		(Recovery of) Provision for Credit Losses (a)		Charge-offs		Recoveries		Ending Balance, March 31, 2025
Construction	$	878	$	—	$	278	$	—	$	—	$	1,156
Commercial real estate, other	16,256		—		1,110		(215)		4		17,155
Commercial and industrial	13,283		—		(126)		(380)		6		12,783
Premium finance	662		—		49		(71)		6		646
Leases	12,893		—		6,091		(5,654)		245		13,575
Residential real estate	6,491		—		388		(142)		49		6,786
Home equity lines of credit	1,792		—		71		—		—		1,863
Consumer, indirect	8,576		—		1,776		(1,866)		210		8,696
Consumer, direct	2,396		—		213		(155)		20		2,474
Deposit account overdrafts	121		—		155		(277)		99		98
Total	$	63,348	$	—	$	10,005	$	(8,760)	$	639	$	65,232

(a)Amount does not include the provision for the allowance for credit losses on unfunded commitments.


(Dollars in thousands)	Beginning Balance, December 31, 2023		Initial Allowance for Acquired PCD Assets		Provision for (Recovery of) Credit Losses (a)		Charge-offs		Recoveries		Ending Balance, March 31, 2024
Construction	$	699	$	—	$	2	$	—	$	—	$	701
Commercial real estate, other	20,915		—		1,002		(212)		83		21,788
Commercial and industrial	10,490		—		319		(235)		7		10,581
Premium finance	484		—		169		(54)		8		607
Leases	10,850		—		3,097		(1,270)		212		12,889
Residential real estate	5,937		—		(74)		(80)		83		5,866
Home equity lines of credit	1,588		—		94		—		7		1,689
Consumer, indirect	8,590		—		1,101		(1,461)		71		8,301
Consumer, direct	2,343		—		153		(226)		9		2,279
Deposit account overdrafts	115		—		268		(336)		74		121
Total	$	62,011	$	—	$	6,131	$	(3,874)	$	554	$	64,822

(a)Amount does not include the provision for the allowance for credit losses on unfunded commitments.

During the first quarter of 2025, Peoples recorded a total provision for credit losses on loans of $10.0 million, which was a result of higher net charge-offs. Net charge-offs for the first quarter of 2025 were $8.1 million, primarily driven by our North Star Leasing division. The increase in the allowance for credit losses at March 31, 2025 when compared to at December 31, 2024 was attributable to a deterioration of macro-economic conditions used within the CECL model, an increase in reserves on individually analyzed loans, and loan growth.

During the first quarter of 2024, Peoples recorded a provision for credit losses of $6.1 million, which was driven by (i) a deterioration in macro-economic conditions used within the CECL model, (ii) an increase of reserves on individually analyzed loans and (iii) loan growth.

Peoples had recorded an allowance for unfunded commitments of $2.2 million and $2.0 million as of March 31, 2025 and December 31, 2024, respectively. The allowance for unfunded commitments (also referred to as "unfunded commitment liability") is presented in the “Accrued expenses and other liabilities” line of the Unaudited Consolidated Balance Sheets. The change in the allowance for unfunded commitments is also reflected in the "Provision for (recovery of) credit losses" line of the Unaudited Consolidated Statements of Operations.

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill

The following table details changes in the recorded amount of goodwill:


	For the Three Months Ended		For the Year Ended
(Dollars in thousands)	March 31, 2025		December 31, 2024
Goodwill, beginning of period	$	363,199	$	362,169
Goodwill recorded from acquisitions	—		1,030
Goodwill, end of period	$	363,199	$	363,199

Other Intangible Assets

Other intangible assets were comprised of the following at March 31, 2025, and at December 31, 2024:


(Dollars in thousands)	Core Deposits		Customer Relationships		Indefinite-Lived Trade Names		Total
March 31, 2025
Gross intangibles	$	54,186	$	38,470	$	2,491	$	95,147
Intangibles recorded from acquisitions	—		—		—		—
Accumulated amortization	(32,697)		(26,754)		—		(59,451)
Total acquisition-related intangibles	$	21,489	$	11,716	$	2,491	$	35,696
Servicing rights							1,105
Non-compete agreements							99
Total other intangibles							$	36,900

December 31, 2024
Gross intangibles	$	54,186	$	37,920	$	2,491	$	94,597
Intangibles recorded from acquisitions	—		550		—		550
Accumulated amortization	(31,545)		(25,723)		—		(57,268)
Total acquisition-related intangibles	$	22,641	$	12,747	$	2,491	$	37,879
Servicing rights							1,216
Non-compete agreements							128
Total other intangibles							$	39,223

The following table details estimated aggregate future amortization of other intangible assets at March 31, 2025:


(Dollars in thousands)	Core Deposits		Customer Relationships		Non-Compete Agreements		Total
Remaining nine months of 2025	$	3,456	$	3,092	$	83	$	6,631
2026	3,736		3,036		16		$	6,788
2027	3,043		2,188		—		$	5,231
2028	2,608		1,462		—		$	4,070
2029	2,359		971		—		$	3,330
Thereafter	6,287		967		—		$	7,254
Total	$	21,489	$	11,716	$	99	$	33,304

The weighted average amortization period of other intangible assets is 7.6 years.

Deposits

3 Months Ended

Mar. 31, 2025

Banking and Thrift, Other Disclosure [Abstract]

Deposits

Peoples’ deposit balances were comprised of the following:


(Dollars in thousands)	March 31, 2025		December 31, 2024
Retail certificates of deposits ("CDs"):
$100 or more	$	1,122,896	$	1,092,261
Less than $100	843,082		829,154
Total Retail CDs	1,965,978		1,921,415
Interest-bearing deposit accounts	1,086,112		1,085,152
Savings accounts	895,677		866,959
Money market deposit accounts	967,331		878,254
Governmental deposit accounts	834,409		775,782

Brokered CDs	458,957		554,982
Total interest-bearing deposits	6,208,464		6,082,544
Non-interest-bearing deposits	1,526,285		1,507,661
Total deposits	$	7,734,749	$	7,590,205

Uninsured deposits were $2.1 billion at March 31, 2025 and $2.0 billion at December 31, 2024. Uninsured deposit 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 $725.5 million and $656.9 million of the uninsured deposit balances at March 31, 2025 and at December 31, 2024, respectively.

Uninsured time deposits are broken out below by time remaining until maturity.


(Dollars in thousands)	March 31, 2025		December 31, 2024
3 months or less	$	144,606	$	180,405
Over 3 to 6 months	118,957		127,329
Over 6 to 12 months	117,076		91,197
Over 12 months	45,048		18,044
Total	$	425,687	$	416,975

The contractual maturities of CDs for each of the next five years, including the remainder of 2025, and thereafter are as follows:


(Dollars in thousands)	Retail		Brokered		Total
Remaining nine months ending December 31, 2025	$	1,492,301	$	292,800	$	1,785,101
Year ending December 31, 2026	436,648		16,379		453,027
Year ending December 31, 2027	23,223		82,419		105,642
Year ending December 31, 2028	6,973		21,526		28,499
Year ending December 31, 2029	5,660		45,833		51,493
Thereafter	1,173		—		1,173
Total CDs	$	1,965,978	$	458,957	$	2,424,935

At March 31, 2025, Peoples had seven effective interest rate swaps, with an aggregate notional value of $65.0 million, all of which hedge interest payments on brokered CDs. The brokered CDs 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 10 Derivative Financial Instruments."

Stockholders' Equity

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

The following table details the progression in Peoples’ common shares and treasury stock during the three months ended March 31, 2025:


	Common Shares	Treasury Stock
Shares at December 31, 2024	36,782,601	1,311,175
Changes related to stock-based compensation awards:

Release of restricted common shares	—	50,671
Cancellation of restricted common shares	—	30,633

Grant of restricted common shares	—	(160,269)
Grant of unrestricted common shares	—	—

Purchase of treasury stock	—	3,045
Disbursed out of treasury stock	—	(954)
Common shares repurchased under share repurchase program	—	—
Common shares issued under dividend reinvestment plan	12,506	—
Common shares issued under compensation plan for Boards of Directors	—	(3,890)

Common shares issued under employee stock purchase plan	—	(10,149)


Shares at March 31, 2025	36,795,107	1,220,262

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 March 31, 2025, Peoples had repurchased an aggregate of 471,307 common shares totaling $13.4 million under the share repurchase program. No common shares were repurchased during the first three months of 2025 and 100,905 common shares totaling $3.0 million were purchased in the first quarter of 2024.

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 March 31, 2025, Peoples had no preferred shares issued or outstanding.

On January 20, 2025, Peoples' Board of Directors declared a quarterly cash dividend of $0.40 per common share, payable on February 17, 2025, to shareholders of record on February 3, 2025. On April 21, 2025, Peoples' Board of Directors declared a quarterly cash dividend of $0.41 per common share, payable on May 19, 2025, to shareholders of record on May 5, 2025. The following table details the cash dividends declared per common share during the first two quarters of 2025 and the comparable periods of 2024:


	2025		2024
First quarter	$	0.40	$	0.39
Second quarter	0.41		0.40


Total dividends declared	$	0.81	$	0.79

Accumulated Other Comprehensive (Loss) Income

The following table details the change in the components of Peoples’ accumulated other comprehensive (loss) income during the three months ended March 31, 2025:


(Dollars in thousands)	Unrealized (Loss) Gain on Securities		Unrealized Gain on Cash Flow Hedges		Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2024	$	(111,829)	$	1,444	$	(110,385)
Reclassification adjustments to net income:
Realized loss on securities, net of tax	2		—		2

Realized loss on cash flow hedges, net of tax			(326)		(326)
Other comprehensive income (loss), net of reclassifications and tax	15,199		(181)		15,018
Balance, March 31, 2025	$	(96,628)	$	937	$	(95,691)

The entire disclosure for equity.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Employee Benefit Plans	3 Months Ended
Employee Benefit Plans	Mar. 31, 2025
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Peoples 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 or through Roth contributions. Since January 1, 2021, Peoples matches 100% of participants’ contributions up to 6% of the participants’ compensation. Matching contributions made by Peoples totaled $1.5 million during the three months ended March 31, 2025 and $1.5 million for the three months ended March 31, 2024.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Earnings Per Common Share

Earnings Per Common Share

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

The calculations of basic and diluted earnings per common share were as follows:


	Three Months Ended
	March 31,
(Dollars in thousands, except per common share data)	2025		2024
Net income available to common shareholders	$	24,336	$	29,584
Less: Dividends paid on unvested common shares	210		143
Less: Undistributed income allocated to unvested common shares	37		64
Net earnings allocated to common shareholders	$	24,089	$	29,377

Weighted-average common shares outstanding	34,895,723		34,740,349
Effect of potentially dilutive common shares	401,412		311,461
Total weighted-average diluted common shares outstanding	35,297,135		35,051,810

Earnings per common share:
Basic	$	0.69	$	0.85
Diluted	$	0.68	$	0.84
Anti-dilutive common shares excluded from calculation:
Restricted common shares	149,082		3,180

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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.

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 are designated as cash flow hedges and involve the receipt of variable rate amounts from a counterparty in exchange for Peoples making fixed payments. At March 31, 2025, Peoples had entered into seven interest rate swap contracts with an aggregate notional value of $65.0 million. Peoples will pay a fixed rate of interest for up to four years while receiving a floating rate component of interest equal to term secured overnight financing rate ("SOFR"). The interest received on the floating rate component is intended to offset the interest paid on rolling three-month brokered CDs or FHLB advances, which will continue to be rolled through the life of the interest rate swaps. At both March 31, 2025 and December 31, 2024, the interest rate swaps were designated as cash flow hedges of $65.0 and $75.0 million, respectively, in brokered CDs, which are expected to be extended every 90 days through the maturity dates of the interest rate swaps.

For derivative financial instruments designated as cash flow hedges, the effective and ineffective portions of changes in the fair value of each derivative financial instrument is reported in accumulated other comprehensive (loss) income ("AOCI") (outside of earnings), net of tax, and are reclassified to interest expense as interest payments are made or received on Peoples' variable-rate liabilities. Peoples assesses the effectiveness of each hedging relationship by comparing the changes in cash flows of the hedging derivative financial instrument with the changes in cash flows of the designated hedged transaction. The reset dates and the payment dates on the brokered CDs or FHLB advances are matched to the reset dates and payment dates on the receipt of the term SOFR rate (or the three-month LIBOR floating portion prior to June 30, 2023) of the swaps to ensure effectiveness of the cash flow hedge. For the three months ended March 31, 2025, and 2024, Peoples recorded reclassifications of losses to earnings of $0.4 million and a gain of $0.9 million, respectively. During the next 12 months, Peoples estimates that $1.5 million of AOCI will be reclassified as an addition to interest expense.

The following table summarizes information about the interest rate swaps designated as cash flow hedges:


(Dollars in thousands)	March 31, 2025			December 31, 2024
Notional amount	$	65,000		$	75,000
Weighted average pay rates	2.58		%	2.45		%
Weighted average receive rates	4.19		%	4.49		%
Weighted average maturity	1.5 years			1.5 years
Pre-tax changes in fair value included in AOCI	$	1,293		$	1,885

The following table presents changes in fair value recorded in AOCI and in the Consolidated Statements of Operations related to the cash flow hedges:


	Three Months Ended
	March 31,
(Dollars in thousands)	2025		2024
Amount of losses (gains) recorded in AOCI, pre-tax	$	661	$	(256)

The following table reflects the cash flow hedges, which are included in the Unaudited Consolidated Balance Sheets at fair value:


	March 31, 2025				December 31, 2024
(Dollars in thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value
Included in "Other assets":
Interest rate swaps related to debt	$	65,000	$	1,207	$	75,000	$	1,784

Non-Designated Hedges

Peoples Bank maintains an interest rate protection program for commercial loan customers, which was established in 2010. Under this program, 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 interest rate 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 interest rate swap is accounted for as a standalone derivative financial instrument. These interest rate swaps did not have a material impact on Peoples' results of operations or financial condition at or for the three months ended March 31, 2025, or at or for the year ended December 31, 2024.

The following table reflects the non-designated hedges, which are included in the Unaudited Consolidated Balance Sheets at fair value:


	March 31, 2025				December 31, 2024
(Dollars in thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value
Included in "Other assets":
Interest rate swaps related to commercial loans	$	491,594	$	12,885	$	453,367	$	16,959

Included in "Accrued expenses and other liabilities":
Interest rate swaps related to commercial loans	$	491,594	$	12,965	$	453,367	$	17,046

Pledged Collateral

Peoples Bank pledges or receives collateral for all interest rate swaps. When the fair value of Peoples Bank interest rate swaps is in a net liability position, Peoples Bank must pledge collateral, and, when the fair value of Peoples Bank interest rate swaps is in a net asset position, the respective counterparties must pledge collateral. At March 31, 2025 and at December 31, 2024, Peoples Bank had no cash pledged, while counterparties had $8.1 million of cash pledged at March 31, 2025 and $12.3 million of cash pledged at December 31, 2024. Peoples Bank had no pledged investment securities at March 31, 2025 or at December 31, 2024, while the counterparties had pledged investment securities in the amounts of $1.9 million at March 31, 2025 and $1.9 million at December 31, 2024.

Stock-Based Compensation

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

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. 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 officers and key employees expire after periods ranging from one to five years. Since 2018, common shares awarded to non-employee directors have vested immediately upon grant with no restrictions. In the first three months of 2025, Peoples granted an aggregate of 159,097 restricted common shares subject to performance-based vesting to officers and key employees with restrictions that will lapse three years after the grant date; provided that in order for the restricted common shares to vest in full, Peoples must have reported positive net income and maintained a well-capitalized status by regulatory standards for each of the three fiscal years preceding the vesting date.

The following table summarizes the changes to Peoples’ restricted common shares for the three months ended March 31, 2025:


	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, 2025	140,231	$	28.72	586,227	$	29.67
Awarded	2,069	31.39		159,097	33.41
Released	(5,316)	31.35		(141,821)	32.21
Forfeited	(7,731)	26.08		(23,799)	29.67
Outstanding at March 31, 2025	129,253	$	28.81	579,704	$	30.08

The intrinsic value for restricted common shares released was $4.8 million for the three months ended March 31, 2025, compared to $2.2 million for the three months ended March 31, 2024.

Stock-Based Compensation

Peoples recognizes stock-based compensation, which is included as a component of Peoples’ salaries and employee benefit costs, for restricted and unrestricted 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 15%. The following table summarizes the amount of stock-based compensation expense and related tax benefit recognized for each period:


	Three Months Ended
	March 31,
(Dollars in thousands)	2025		2024
Employee stock-based compensation expense:
Stock grant expense	$	2,430	$	3,024
Employee stock purchase plan expense	45		66

Total employee stock-based compensation expense	2,475		3,090
Non-employee director stock-based compensation expense	116		138
Total stock-based compensation expense	2,591		3,228
Recognized tax benefit	(604)		(752)
Net stock-based compensation expense	$	1,987	$	2,476

The fair value of restricted common share awards on the grant date is the market price of Peoples' common shares on that date. Total unrecognized stock-based compensation expense related to unvested restricted common share awards was $8.7 million at March 31, 2025, which will be recognized over a weighted-average period of 2.2 years.

Revenue

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue

The following table details Peoples' revenue from contracts with customers:


	Three Months Ended
	March 31,
(Dollars in thousands)	2025		2024
Insurance income:
Commission and fees from sale of insurance policies (a)	$	4,512	$	4,285

Performance-based commissions (b)	1,542		2,213
Trust and investment income:
Fiduciary income (a)	2,915		2,757
Brokerage income (a)	2,146		1,842
Electronic banking income:
Interchange income (a)	4,845		4,797
Promotional and usage income (a)	1,040		1,249
Deposit account service charges:
Ongoing maintenance fees for deposit accounts (a)	1,643		1,718
Transaction-based fees (b)	2,372		2,505
Commercial loan swap fees (b)	537		52
Other non-interest income transaction-based fees (b)	470		504
Total revenue from contracts with customers	$	22,022	$	21,922
Timing of revenue recognition:
Services transferred over time	$	17,101	$	16,648
Services transferred at a point in time	4,921		5,274
Total revenue from contracts with customers	$	22,022	$	21,922
(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 fulfillment of performance obligations, but payment has not yet been received related to electronic banking income and certain insurance 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 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 related to electronic banking income.

The following table details the changes in Peoples' contract assets and contract liabilities for the three-month period ended March 31, 2025:


	Contract Assets		Contract Liabilities
(Dollars in thousands)
Balance, January 1, 2025	$	899	$	5,771
Additional income receivable	5		—
Additional deferred income	—		—
Receipt of income previously receivable	(15)		—
Recognition of income previously deferred	—		(555)
Balance, March 31, 2025	$	889	$	5,216

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org/606/tableOfContent

Leases

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Peoples has elected certain practical expedients, in accordance with ASC 842 - Leases ("ASC 842"). As a lessor, Peoples has made an accounting policy election to exclude from the consideration in the contract, and from variable payments not included in the consideration in the contract, all sales and other similar taxes assessed. Peoples has also made an accounting policy election to account for each separate lease component of a contract and its associated non-lease components as a single lease component for all leases subject to ASC 842.

Lessor Arrangements

Peoples began originating leases with the acquisition of leases from NSL and increased its portfolio with the acquisition of Vantage. The leases for 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 for Vantage were determined to be primarily 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, healthcare, 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. Operating leases assets are assessed for impairment consistent with Peoples’ fixed assets.

Sales-type 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.

Lease income noted in the table below includes (i) operating lease income, (ii) gains on the early termination of leases, net of any associated purchase accounting adjustments (iii) month-to-month lease payments in excess of net investment in the lease, (iv) fees received for referrals, (v) gains and losses recognized on the sales of residual assets and (vi) syndication income. Additional information regarding Peoples' leases can be found in "Note 4 Loans and Leases."

The table below details Peoples' lease income:


	Three Months Ended
(Dollars in thousands)	March 31, 2025		March 31, 2024
Interest and fees on leases (a)	$	10,198	$	12,067
Lease income	3,446		2,021

Total lease income	$	13,644	$	14,088

(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.

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)	March 31, 2025		December 31, 2024
Lease payments receivable, at amortized cost	$	431,584	$	448,027
Estimated residual values	33,558		33,129
Initial direct costs	6,581		7,148
Deferred revenue	(76,269)		(81,706)
Net investment in leases	395,454		406,598
Allowance for credit losses - leases	(13,575)		(12,893)
Net investment in leases, after allowance for credit losses	$	381,879	$	393,705

The following table summarizes the contractual maturities of leases:


(Dollars in thousands)	Balance
Remaining nine months ending December 31, 2025	$	102,431
Year ending December 31, 2026	91,918
Year ending December 31, 2027	92,471
Year ending December 31, 2028	74,142
Year ending December 31, 2029	50,127
Thereafter	20,495
Lease payments receivable, at amortized cost	$	431,584

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 to 30 years. Certain leases may include options to extend or terminate the lease. Only those renewal and termination options which Peoples is reasonably certain of exercising are included in the calculation of the lease liability. Certain leases contain rent escalation clauses calling for rent increases over the term of the lease, which are included in the calculation of the lease liability. At March 31, 2025, Peoples did not have any leases that met the criteria for finance leases. Right of Use ("ROU") assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at the commencement or the remeasurement date of a lease based on the present value of lease payments over the remaining lease term. Operating lease ROU assets include lease payments made at or before the commencement date and initial indirect costs. Operating lease ROU assets are presented net of any lease incentives. Short-term leases of certain facilities and equipment, with lease terms of 12 months or less, are recognized on a straight-line basis over the lease term and do not have an ROU asset or lease liability.

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
(Dollars in thousands)	March 31, 2025		March 31, 2024
Operating lease expense	$	713	$	735
Short-term lease expense	363		305
Variable lease expense	9		—
Total lease expense	$	1,085	$	1,040

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.

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)	March 31, 2025			December 31, 2024
ROU assets:
Other assets	$	10,674		$	10,419
Lease liabilities:
Accrued expenses and other liabilities	$	11,254		$	10,968
Other information:
Weighted-average remaining lease term	8.7 years			9.0 years
Weighted-average discount rate	4.14		%	4.11		%
Additions for ROU assets obtained during the year	$	852		$	1,660

During both the three months ended March 31, 2025 and 2024, Peoples paid cash of $0.7 million for operating leases.

The following table summarizes the maturity of remaining lease liabilities:


(Dollars in thousands)	Balance
Remaining nine months ending December 31, 2025	$	1,911
Year ending December 31, 2026	2,351
Year ending December 31, 2027	2,091
Year ending December 31, 2028	1,575
Year ending December 31, 2029	1,121
Thereafter	4,549
Total undiscounted lease payments	$	13,598
Imputed interest	$	(2,344)
Total lease liabilities	$	11,254

Peoples has elected certain practical expedients, in accordance with ASC 842 - Leases ("ASC 842"). As a lessor, Peoples has made an accounting policy election to exclude from the consideration in the contract, and from variable payments not included in the consideration in the contract, all sales and other similar taxes assessed. Peoples has also made an accounting policy election to account for each separate lease component of a contract and its associated non-lease components as a single lease component for all leases subject to ASC 842.

Lessor Arrangements

Peoples began originating leases with the acquisition of leases from NSL and increased its portfolio with the acquisition of Vantage. The leases for 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 for Vantage were determined to be primarily 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, healthcare, 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. Operating leases assets are assessed for impairment consistent with Peoples’ fixed assets.

Sales-type 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.

Lease income noted in the table below includes (i) operating lease income, (ii) gains on the early termination of leases, net of any associated purchase accounting adjustments (iii) month-to-month lease payments in excess of net investment in the lease, (iv) fees received for referrals, (v) gains and losses recognized on the sales of residual assets and (vi) syndication income. Additional information regarding Peoples' leases can be found in "Note 4 Loans and Leases."

The table below details Peoples' lease income:


	Three Months Ended
(Dollars in thousands)	March 31, 2025		March 31, 2024
Interest and fees on leases (a)	$	10,198	$	12,067
Lease income	3,446		2,021

Total lease income	$	13,644	$	14,088

(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.

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)	March 31, 2025		December 31, 2024
Lease payments receivable, at amortized cost	$	431,584	$	448,027
Estimated residual values	33,558		33,129
Initial direct costs	6,581		7,148
Deferred revenue	(76,269)		(81,706)
Net investment in leases	395,454		406,598
Allowance for credit losses - leases	(13,575)		(12,893)
Net investment in leases, after allowance for credit losses	$	381,879	$	393,705

The following table summarizes the contractual maturities of leases:


(Dollars in thousands)	Balance
Remaining nine months ending December 31, 2025	$	102,431
Year ending December 31, 2026	91,918
Year ending December 31, 2027	92,471
Year ending December 31, 2028	74,142
Year ending December 31, 2029	50,127
Thereafter	20,495
Lease payments receivable, at amortized cost	$	431,584

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 to 30 years. Certain leases may include options to extend or terminate the lease. Only those renewal and termination options which Peoples is reasonably certain of exercising are included in the calculation of the lease liability. Certain leases contain rent escalation clauses calling for rent increases over the term of the lease, which are included in the calculation of the lease liability. At March 31, 2025, Peoples did not have any leases that met the criteria for finance leases. Right of Use ("ROU") assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at the commencement or the remeasurement date of a lease based on the present value of lease payments over the remaining lease term. Operating lease ROU assets include lease payments made at or before the commencement date and initial indirect costs. Operating lease ROU assets are presented net of any lease incentives. Short-term leases of certain facilities and equipment, with lease terms of 12 months or less, are recognized on a straight-line basis over the lease term and do not have an ROU asset or lease liability.

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
(Dollars in thousands)	March 31, 2025		March 31, 2024
Operating lease expense	$	713	$	735
Short-term lease expense	363		305
Variable lease expense	9		—
Total lease expense	$	1,085	$	1,040

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.

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)	March 31, 2025			December 31, 2024
ROU assets:
Other assets	$	10,674		$	10,419
Lease liabilities:
Accrued expenses and other liabilities	$	11,254		$	10,968
Other information:
Weighted-average remaining lease term	8.7 years			9.0 years
Weighted-average discount rate	4.14		%	4.11		%
Additions for ROU assets obtained during the year	$	852		$	1,660

During both the three months ended March 31, 2025 and 2024, Peoples paid cash of $0.7 million for operating leases.

The following table summarizes the maturity of remaining lease liabilities:


(Dollars in thousands)	Balance
Remaining nine months ending December 31, 2025	$	1,911
Year ending December 31, 2026	2,351
Year ending December 31, 2027	2,091
Year ending December 31, 2028	1,575
Year ending December 31, 2029	1,121
Thereafter	4,549
Total undiscounted lease payments	$	13,598
Imputed interest	$	(2,344)
Total lease liabilities	$	11,254

Peoples has elected certain practical expedients, in accordance with ASC 842 - Leases ("ASC 842"). As a lessor, Peoples has made an accounting policy election to exclude from the consideration in the contract, and from variable payments not included in the consideration in the contract, all sales and other similar taxes assessed. Peoples has also made an accounting policy election to account for each separate lease component of a contract and its associated non-lease components as a single lease component for all leases subject to ASC 842.

Lessor Arrangements

Peoples began originating leases with the acquisition of leases from NSL and increased its portfolio with the acquisition of Vantage. The leases for 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 for Vantage were determined to be primarily 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, healthcare, 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. Operating leases assets are assessed for impairment consistent with Peoples’ fixed assets.

Sales-type 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.

Lease income noted in the table below includes (i) operating lease income, (ii) gains on the early termination of leases, net of any associated purchase accounting adjustments (iii) month-to-month lease payments in excess of net investment in the lease, (iv) fees received for referrals, (v) gains and losses recognized on the sales of residual assets and (vi) syndication income. Additional information regarding Peoples' leases can be found in "Note 4 Loans and Leases."

The table below details Peoples' lease income:


	Three Months Ended
(Dollars in thousands)	March 31, 2025		March 31, 2024
Interest and fees on leases (a)	$	10,198	$	12,067
Lease income	3,446		2,021

Total lease income	$	13,644	$	14,088

(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.

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)	March 31, 2025		December 31, 2024
Lease payments receivable, at amortized cost	$	431,584	$	448,027
Estimated residual values	33,558		33,129
Initial direct costs	6,581		7,148
Deferred revenue	(76,269)		(81,706)
Net investment in leases	395,454		406,598
Allowance for credit losses - leases	(13,575)		(12,893)
Net investment in leases, after allowance for credit losses	$	381,879	$	393,705

The following table summarizes the contractual maturities of leases:


(Dollars in thousands)	Balance
Remaining nine months ending December 31, 2025	$	102,431
Year ending December 31, 2026	91,918
Year ending December 31, 2027	92,471
Year ending December 31, 2028	74,142
Year ending December 31, 2029	50,127
Thereafter	20,495
Lease payments receivable, at amortized cost	$	431,584

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 to 30 years. Certain leases may include options to extend or terminate the lease. Only those renewal and termination options which Peoples is reasonably certain of exercising are included in the calculation of the lease liability. Certain leases contain rent escalation clauses calling for rent increases over the term of the lease, which are included in the calculation of the lease liability. At March 31, 2025, Peoples did not have any leases that met the criteria for finance leases. Right of Use ("ROU") assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at the commencement or the remeasurement date of a lease based on the present value of lease payments over the remaining lease term. Operating lease ROU assets include lease payments made at or before the commencement date and initial indirect costs. Operating lease ROU assets are presented net of any lease incentives. Short-term leases of certain facilities and equipment, with lease terms of 12 months or less, are recognized on a straight-line basis over the lease term and do not have an ROU asset or lease liability.

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
(Dollars in thousands)	March 31, 2025		March 31, 2024
Operating lease expense	$	713	$	735
Short-term lease expense	363		305
Variable lease expense	9		—
Total lease expense	$	1,085	$	1,040

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.

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)	March 31, 2025			December 31, 2024
ROU assets:
Other assets	$	10,674		$	10,419
Lease liabilities:
Accrued expenses and other liabilities	$	11,254		$	10,968
Other information:
Weighted-average remaining lease term	8.7 years			9.0 years
Weighted-average discount rate	4.14		%	4.11		%
Additions for ROU assets obtained during the year	$	852		$	1,660

During both the three months ended March 31, 2025 and 2024, Peoples paid cash of $0.7 million for operating leases.

The following table summarizes the maturity of remaining lease liabilities:


(Dollars in thousands)	Balance
Remaining nine months ending December 31, 2025	$	1,911
Year ending December 31, 2026	2,351
Year ending December 31, 2027	2,091
Year ending December 31, 2028	1,575
Year ending December 31, 2029	1,121
Thereafter	4,549
Total undiscounted lease payments	$	13,598
Imputed interest	$	(2,344)
Total lease liabilities	$	11,254

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2025	Mar. 31, 2024
Pay vs Performance Disclosure
Net income	$ 24,336	$ 29,584

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2025
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 Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying Unaudited Condensed Consolidated Financial Statements of Peoples Bancorp Inc. and its 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.) have been prepared in accordance with accounting principles generally accepted in the United States ("US GAAP") for interim financial information and the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, these financial statements do not contain all of the information and footnotes required by US GAAP for annual financial statements and should be read in conjunction with Peoples’ Annual Report on Form 10-K for the fiscal year ended December 31, 2024 ("Peoples' 2024 Form 10-K"). The accounting and reporting policies followed in the presentation of the accompanying Unaudited Condensed Consolidated Financial Statements are consistent with those described in "Note 1 Summary of Significant Accounting Policies" of the Notes to the Consolidated Financial Statements included in Peoples’ 2024 Form 10-K, as updated by the information contained in this Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025 (this "Form 10-Q"). Management has evaluated all significant events and transactions that occurred after March 31, 2025 for potential recognition or disclosure in these Unaudited Condensed Consolidated Financial Statements. In the opinion of management, these Unaudited Condensed Consolidated Financial Statements reflect all adjustments necessary to present fairly such information for the periods and at the dates indicated. Such adjustments are normal and recurring in nature. Certain items in prior financial statements have been reclassified to conform to the current presentation, which had no impact on net income, total comprehensive income, net cash provided by operating activities or total stockholders’ equity. Intercompany accounts and transactions have been eliminated. The Consolidated Balance Sheet at December 31, 2024, contained herein, has been derived from the audited Consolidated Balance Sheet included in Peoples’ 2024 Form 10-K. The preparation of the condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Results of operations for interim periods are not necessarily indicative of the results to be expected for the full year, due in part to seasonal variations and unusual or infrequently occurring items.
Operating Segments	Operating Segments: 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. Peoples’ business activities are currently confined to a single reportable operating segment, which is community banking. Peoples’ single operating segment was determined based on the similar economic characteristics shared by the components of community banking. Peoples’ chief operating decision maker (“CODM”) is composed of its President and Chief Executive Officer, and its Chief Financial Officer. Peoples’ CODM considers all components of consolidated interest income, interest expense, non-interest income, and non-interest expense as presented in Peoples’ Consolidated Statements of Operations for the purposes of assessing performance of Peoples’ single reportable segment and allocating resources within its reportable segment. The CODM does not review segment revenue or expense information at a lower level than what is included in Peoples’ Consolidated Statements of Operations.
New Accounting Pronouncements	New Accounting Pronouncements: From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard setting bodies that are adopted by Peoples as of the required effective dates. Refer to "Note 1 Summary of Significant Accounting Policies" of the Notes to the Consolidated Financial Statements included in Peoples’ 2024 Form 10-K. Unless otherwise discussed, management believes the impact of any recently issued standards, including those issued but not yet effective, will not have a material impact on Peoples' financial statements taken as a whole.

Disclosure of accounting policy for segment reporting.

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Summary of Assets Measured on a Recurring Basis

Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

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 Unaudited Consolidated Balance Sheets by level in the fair value hierarchy.


	Recurring Fair Value Measurements at Reporting Date
	March 31, 2025				December 31, 2024
(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	$	14,343	$	—		$	15,196	$	—
U.S. government sponsored agencies	—		213,063			—		209,083
States and political subdivisions	—		195,505			—		196,301
Residential mortgage-backed securities	—		593,979			—		601,802
Commercial mortgage-backed securities	—		52,636			—		55,065
Bank-issued trust preferred securities	—		4,148			—		6,108

Total available-for-sale securities	$	14,343	$	1,059,331		$	15,196	$	1,068,359
Equity investment securities (a)	188		245			197		244
Nonqualified deferred compensation (a) (b)	5,164		—			4,898		—
Derivative assets (c)	—		14,092			—		18,743
Liabilities:
Derivative liabilities (d)	$	—	$	12,965		$	—	$	17,046

(a) Included in "Other investment securities" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 3 Investment Securities" of the Notes to the Unaudited Condensed Consolidated Financial Statements.

(b) Investments in the nonqualified deferred compensation plan consist of mutual funds.

(c) Included in "Other assets" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 10 Derivative Financial Instruments" of the Notes to the Unaudited Condensed Consolidated Financial Statements.

(d) Included in "Accrued expenses and other liabilities" on the Unaudited Consolidated Balance Sheets. For additional information, see "Note 10 Derivative Financial Instruments" of the Notes to the Unaudited Condensed Consolidated Financial Statements.

Summary 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 Unaudited Consolidated Balance Sheets by level in the fair value hierarchy at March 31, 2025 and December 31, 2024.


	Non-Recurring Fair Value Measurements at Reporting Date
	March 31, 2025				December 31, 2024
(Dollars in thousands)	Level 2		Level 3		Level 2		Level 3

Assets:
Collateral dependent loans	$	—	$	3,676	$	—	$	4,375
Loans held for sale (a)	924		—		1,499		—
Other real estate owned	—		—		—		5,891

(a) Loans held for sale are presented gross of a valuation allowance of $64 and $166 at March 31, 2025 and at December 31, 2024, respectively.

Summary 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 Unaudited Consolidated Balance Sheets.


	Fair Value Measurements of Other Financial Instruments
(Dollars in thousands)	Fair Value Hierarchy Level	March 31, 2025				December 31, 2024
		Carrying Amount		Fair Value		Carrying Amount		Fair Value

Assets:
Cash and cash equivalents	1	$	186,978	186,978		$	217,664	$	217,664




Held-to-maturity investment securities:
Obligations of:
U.S. government sponsored agencies	2	222,698		215,377		233,302		223,294
States and political subdivisions (a)	2	142,513		112,471		142,691		110,848
Residential mortgage-backed securities	2	290,023		271,796		300,290		276,278
Commercial mortgage-backed securities	2	98,469		83,671		98,754		82,079

Total held-to-maturity securities		753,703		683,315		775,037		692,499


Other investment securities:
Other investment securities at cost:
Federal Home Loan Bank ("FHLB") stock	N/A	14,797		14,797		24,606		24,606
Federal Reserve Bank ("FRB") stock	N/A	27,114		27,114		27,114		27,114
Other investment securities (b)	N/A	3,814		3,814		3,073		3,073

Total other investment securities at cost		45,725		45,725		54,793		54,793





Loans and leases, net of deferred fees and costs (c)	3	6,428,526		6,346,657		6,358,003		6,240,751
Bank owned life insurance	2	144,843		144,843		143,710		143,710
Liabilities:
Deposits	2	$	7,734,749	$	6,891,785	$	7,590,205	$	6,713,360
Short-term borrowings	2	19,228		19,227		193,474		192,964
Long-term borrowings	2	237,000		258,355		238,073		258,195

(a) Obligations of states and political subdivisions are presented gross of an allowance for credit losses of $237 at both March 31, 2025 and December 31, 2024.

(b) "Other investment securities", as reported on the Unaudited Consolidated Balance Sheets, also included equity investment securities at March 31, 2025

and at December 31, 2024, 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.

(c) Loans and leases, net of deferred fees and costs, are presented gross of an allowance for credit losses of $65.2 million and $63.3 million at March 31, 2025 and at December 31, 2024, respectively.

Investment Securities (Tables)

3 Months Ended

Mar. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-sale Investment Securities

The following table summarizes Peoples' available-for-sale investment securities:


(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2025
Obligations of:
U.S. Treasury and government agencies	$	14,250	$	154	$	(61)	$	14,343
U.S. government sponsored agencies	223,585		239		(10,761)		213,063
States and political subdivisions	223,325		39		(27,859)		195,505
Residential mortgage-backed securities	673,730		1,799		(81,550)		593,979
Commercial mortgage-backed securities	60,287		1		(7,652)		52,636
Bank-issued trust preferred securities	4,500		—		(352)		4,148

Total available-for-sale securities	$	1,199,677	$	2,232	$	(128,235)	$	1,073,674
December 31, 2024
Obligations of:
U.S. Treasury and government agencies	$	15,317	$	87	$	(208)	$	15,196
U.S. government sponsored agencies	224,167		53		(15,137)		209,083
States and political subdivisions	225,074		16		(28,789)		196,301
Residential mortgage-backed securities	693,886		1,391		(93,475)		601,802
Commercial mortgage-backed securities	64,438		36		(9,409)		55,065
Bank-issued trust preferred securities	6,500		—		(392)		6,108

Total available-for-sale securities	$	1,229,382	$	1,583	$	(147,410)	$	1,083,555

Summary of Gross Gains and Losses from Sales of Available-for-sale Securities

The gross gains and losses realized by Peoples from sales or prepayments of available-for-sale securities for the periods ended March 31 were as follows:


	Three Months Ended
	March 31,
(Dollars in thousands)	2025		2024
Gross gains realized	$	25	$	—
Gross losses realized	27		1
Net loss realized	$	(2)	$	(1)

Summary of Available-for-sale Securities with Unrealized Loss

The following table presents a summary of available-for-sale investment securities that have been in a continuous unrealized loss position for the periods identified:


	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
March 31, 2025
Obligations of:
U.S. Treasury and government agencies	$	12,281	$	46	8	$	2,062	$	15	9	$	14,343	$	61
U.S. government sponsored agencies	141,400		3,090		23	71,663		7,671		13	213,063		10,761
States and political subdivisions	30,058		910		35	165,447		26,949		154	195,505		27,859
Residential mortgage-backed securities	116,813		1,313		54	477,184		80,237		255	593,997		81,550
Commercial mortgage-backed securities	8,369		73		6	44,267		7,579		23	52,636		7,652
Bank-issued trust preferred securities	—		—		—	3,648		352		2	3,648		352

Total	$	308,921	$	5,432	126	$	764,271	$	122,803	456	$	1,073,192	$	128,235
December 31, 2024
Obligations of:
U.S. Treasury and government agencies	$	10,003	$	174	11	$	2,299	$	34	10	$	12,302	$	208
U.S. government sponsored agencies	130,518		5,816		27	70,982		9,321		13	201,500		15,137
States and political subdivisions	28,400		1,188		55	160,210		27,601		138	188,610		28,789
Residential mortgage-backed securities	85,043		2,300		69	482,609		91,175		256	567,652		93,475
Commercial mortgage-backed securities	2,868		93		5	46,619		9,316		24	49,487		9,409
Bank-issued trust preferred securities	493		7		1	5,614		385		3	6,107		392

Total	$	257,325	$	9,578	168	$	768,333	$	137,832	444	$	1,025,658	$	147,410

Summary 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 March 31, 2025. The weighted-average yields are based on the amortized cost. 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	$	1,036		$	1,270		$	6,498		$	5,446		$	14,250
U.S. government sponsored agencies	1,490			67,658			72,103			82,334			223,585
States and political subdivisions	7,982			39,143			79,366			96,834			223,325
Residential mortgage-backed securities	6			4,110			52,483			617,131			673,730
Commercial mortgage-backed securities	452			10,607			26,047			23,181			60,287
Bank-issued trust preferred securities	—			1,500			3,000			—			4,500

Total available-for-sale securities	$	10,966		$	124,288		$	239,497		$	824,926		$	1,199,677
Fair value
Obligations of:
U.S. Treasury and government agencies	$	1,034		$	1,266		$	6,609		$	5,434		$	14,343
U.S. government sponsored agencies	1,453			62,924			70,186			78,500			213,063
States and political subdivisions	7,936			37,015			67,795			82,759			195,505
Residential mortgage-backed securities	6			4,025			49,051			540,897			593,979
Commercial mortgage-backed securities	452			9,884			22,508			19,792			52,636
Bank-issued trust preferred securities	—			1,463			2,685			—			4,148

Total available-for-sale securities	$	10,881		$	116,577		$	218,834		$	727,382		$	1,073,674
Total weighted-average yield	2.93		%	2.30		%	2.97		%	2.76		%	2.76		%

The table below presents the amortized cost, fair value and total weighted-average yield of held-to-maturity investment securities by contractual maturity at March 31, 2025. 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% at March 31, 2025. In some cases, the issuers may have the right to call or prepay obligations without call or prepayment penalties prior to the contractual maturity date.


(Dollars in thousands)	Within 1 Year		1 to 5 Years		5 to 10 Years		Over 10 Years		Total
Amortized cost
Obligations of:
U.S. government sponsored agencies	$	2,935	$	3,498	$	76,118	$	140,147	$	222,698
States and political subdivisions	2,798		5,830		22,131		111,754		142,513
Residential mortgage-backed securities	—		147		3,811		286,065		290,023
Commercial mortgage-backed securities	2,000		10,838		34,108		51,523		98,469
Total held-to-maturity investment securities	$	7,733	$	20,313	$	136,168	$	589,489	$	753,703
Fair value
Obligations of:
U.S. government sponsored agencies	$	2,853	$	3,347	$	75,883	$	133,294	$	215,377
States and political subdivisions	2,790		5,614		18,188		85,879		112,471
Residential mortgage-backed securities	—		146		3,411		268,239		271,796
Commercial mortgage-backed securities	2,000		9,964		29,780		41,927		83,671
Total held-to-maturity investment securities	$	7,643	$	19,071	$	127,262	$	529,339	$	683,315
Total weighted-average yield	1.79%		1.90%		3.79%		3.94%		3.83%

Summary of Held-to-maturity Investment Securities

The following table summarizes Peoples’ held-to-maturity investment securities:


(Dollars in thousands)	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2025
Obligations of:
U.S. government sponsored agencies	$	222,698	$	—	$	532	$	(7,853)	$	215,377
States and political subdivisions	142,513		(237)		125		(29,930)		112,471
Residential mortgage-backed securities	290,023		—		1,085		(19,312)		271,796
Commercial mortgage-backed securities	98,469		—		—		(14,798)		83,671
Total held-to-maturity investment securities	$	753,703	$	(237)	$	1,742	$	(71,893)	$	683,315
December 31, 2024
Obligations of:
U.S. government sponsored agencies	$	233,302	$	—	$	219	$	(10,227)	$	223,294
States and political subdivisions	142,691		(237)		110		(31,716)		110,848
Residential mortgage-backed securities	300,290		—		281		(24,293)		276,278
Commercial mortgage-backed securities	98,754		—		—		(16,675)		82,079
Total held-to-maturity investment securities	$	775,037	$	(237)	$	610	$	(82,911)	$	692,499

Summary of Held-to-maturity Securities with Unrealized Loss

The following table presents a summary of held-to-maturity investment securities that had been in a continuous unrealized loss position for the periods identified:


	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
March 31, 2025
Obligations of:
U.S. government sponsored agencies	$	178,241	$	947	20	$	37,136	$	6,906	10	$	215,377	$	7,853
States and political subdivisions	1,228		76		1	108,357		29,854		66	109,585		29,930
Residential mortgage-backed securities	140,441		1,030		16	131,355		18,282		43	271,796		19,312
Commercial mortgage-backed securities	8,764		109		2	74,908		14,689		32	83,672		14,798
Total	$	328,674	$	2,162	39	$	351,756	$	69,731	151	$	680,430	$	71,893
December 31, 2024
Obligations of:
U.S. government sponsored agencies	$	150,390	$	2,464	29	$	38,901	$	7,763	11	$	189,291	$	10,227
States and political subdivisions	957		44		1	106,716		31,672		66	107,673		31,716
Residential mortgage-backed securities	116,576		2,808		27	130,556		21,485		43	247,132		24,293
Commercial mortgage-backed securities	9,603		1,381		5	70,476		15,294		29	80,079		16,675
Total	$	277,526	$	6,697	62	$	346,649	$	76,214	149	$	624,175	$	82,911

Summary of Other Investment Securities

The following table summarizes the carrying value of Peoples' other investment securities:


(Dollars in thousands)	March 31, 2025		December 31, 2024
FHLB stock	$	14,797	$	24,606
FRB stock	27,114		27,114
Nonqualified deferred compensation	5,164		4,898
Equity investment securities	3,378		2,645
Other investment securities	869		869
Total other investment securities	$	51,322	$	60,132

Summary of Pledged Securities

The following table summarizes the carrying amount of Peoples' pledged securities:


	Carrying Amount
(Dollars in thousands)	March 31, 2025		December 31, 2024

Securing public and trust department deposits, and repurchase agreements:
Available-for-sale	$	547,471	$	505,963
Held-to-maturity	627,605		563,014



Securing additional borrowing capacity at the FHLB and the FRB:
Available-for-sale	3,116		3,119
Held-to-maturity	1,208		1,215

Loans pledged are summarized as follows:


(Dollars in thousands)	March 31, 2025		December 31, 2024
Loans pledged to FHLB	$	1,205,884	$	1,218,496
Loans pledged to FRB	604,590		527,989

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Summary of Loans by Classification

Loans and Leases (Tables)

3 Months Ended

Mar. 31, 2025

Receivables [Abstract]

The major classifications of loan balances (in each case, net of deferred fees and costs) excluding loans held for sale, were as follows:


(Dollars in thousands)	March 31, 2025		December 31, 2024
Construction	$	319,104	$	328,388
Commercial real estate, other	2,230,538		2,156,013
Commercial and industrial	1,343,827		1,347,645
Premium finance	264,080		269,435
Leases	395,454		406,598
Residential real estate	848,168		835,101
Home equity lines of credit	235,409		232,661
Consumer, indirect	680,260		669,857
Consumer, direct	110,639		111,052
Deposit account overdrafts	1,047		1,253
Total loans, at amortized cost	$	6,428,526	$	6,358,003

Summary of Nonaccrual and Past Due Loans

The amortized cost of loans on nonaccrual status and of loans delinquent for 90 days or more and accruing was as follows:


	March 31, 2025				December 31, 2024
(Dollars in thousands)	Nonaccrual (a)		Accruing Loans 90+ Days Past Due		Nonaccrual (a)		Accruing Loans 90+ Days Past Due

Commercial real estate, other	5,378		284		7,136		227
Commercial and industrial	5,747		106		6,809		78
Premium finance	—		2,502		—		4,947
Leases	12,079		218		8,850		803
Residential real estate	8,163		853		7,329		2,166
Home equity lines of credit	1,537		47		1,498		213
Consumer, indirect	2,521		77		2,374		159
Consumer, direct	203		120		133		44
Total loans, at amortized cost	$	35,628	$	4,207	$	34,129	$	8,637

(a) There were $2.6 million of nonaccrual loans for which there was no allowance for credit losses at March 31, 2025 and $5.7 million of nonaccrual loans for which there was no allowance for credit losses at December 31, 2024.

Summary of Aging of The Recorded Investment In Past Due Loans and Leases

The following table presents the aging of the amortized cost of past due loans:


	Loans Past Due								Current Loans		Total Loans
(Dollars in thousands)	30 - 59 days		60 - 89 days		90 + Days		Total
March 31, 2025
Construction	$	—	$	—	$	—	$	—	$	319,104	$	319,104
Commercial real estate, other	1,967		2,605		2,544		7,116		2,223,422		2,230,538
Commercial and industrial	1,119		1,587		3,740		6,446		1,337,381		1,343,827
Premium finance	2,005		1,816		2,502		6,323		257,757		264,080
Leases	31,007		3,260		11,565		45,832		349,622		395,454
Residential real estate	10,129		2,306		4,005		16,440		831,728		848,168
Home equity lines of credit	1,430		357		865		2,652		232,757		235,409
Consumer, indirect	6,486		803		1,287		8,576		671,684		680,260
Consumer, direct	514		149		208		871		109,768		110,639
Deposit account overdrafts	—		—		—		—		1,047		1,047
Total loans, at amortized cost	$	54,657	$	12,883	$	26,716	$	94,256	$	6,334,270	$	6,428,526
December 31, 2024
Construction	$	—	$	—	$	—	$	—	$	328,388	$	328,388
Commercial real estate, other	1,300		1,585		6,008		8,893		2,147,120		2,156,013
Commercial and industrial	1,651		583		4,551		6,785		1,340,860		1,347,645
Premium finance	3,863		456		4,947		9,266		260,169		269,435
Leases	10,941		5,241		9,575		25,757		380,841		406,598
Residential real estate	11,481		3,038		5,271		19,790		815,311		835,101
Home equity lines of credit	1,473		317		1,093		2,883		229,778		232,661
Consumer, indirect	7,568		1,522		1,326		10,416		659,441		669,857
Consumer, direct	884		113		138		1,135		109,917		111,052
Deposit account overdrafts	—		—		—		—		1,253		1,253
Total loans, at amortized cost	$	39,161	$	12,855	$	32,909	$	84,925	$	6,273,078	$	6,358,003

Summary of Pledged Securities

The following table summarizes the carrying amount of Peoples' pledged securities:


	Carrying Amount
(Dollars in thousands)	March 31, 2025		December 31, 2024

Securing public and trust department deposits, and repurchase agreements:
Available-for-sale	$	547,471	$	505,963
Held-to-maturity	627,605		563,014



Securing additional borrowing capacity at the FHLB and the FRB:
Available-for-sale	3,116		3,119
Held-to-maturity	1,208		1,215

Loans pledged are summarized as follows:


(Dollars in thousands)	March 31, 2025		December 31, 2024
Loans pledged to FHLB	$	1,205,884	$	1,218,496
Loans pledged to FRB	604,590		527,989

Summary of Loans by Risk Category

The following table summarizes the risk category of loans within Peoples' loan portfolio, including acquired loans, based upon the most recent analysis performed at March 31, 2025:



	Term Loans at Amortized Cost by Origination Year														Revolving Loans Converted to Term
(Dollars in thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans				Total Loans
Construction
Pass	$	7,760	$	90,100	$	170,833	$	34,732	$	6,762	$	6,133	$	—	$	234	$	316,320
Special mention	—		—		—		—		—		113		—		—		113
Substandard	—		—		1,149		1,522		—		—		—		—		2,671


Total	7,760		90,100		171,982		36,254		6,762		6,246		—		234		319,104
Current period gross charge-offs	—		—		—		—		—		—						—
Commercial real estate, other
Pass	93,323		148,818		276,560		389,546		398,581		765,684		44,974		2,275		2,117,486
Special mention	—		416		2,150		7,361		10,834		25,438		285		54		46,484
Substandard	—		144		1,654		5,633		11,770		44,743		724		2,476		64,668
Doubtful	—		—		—		—		—		1,898		—		—		1,898
Loss	—		—		—		—		—		2		—		—		2
Total	93,323		149,378		280,364		402,540		421,185		837,765		45,983		4,805		2,230,538
Current period gross charge-offs	—		—		—		156		—		59						215



	Term Loans at Amortized Cost by Origination Year							Revolving Loans Converted to Term
(Dollars in thousands)	2025	2024	2023	2022	2021	Prior	Revolving Loans		Total Loans
Commercial and industrial
Pass	38,053	287,732	201,501	125,281	137,844	237,175	235,900	2,130	1,263,486
Special mention	—	760	9,005	9,440	4,132	1,795	27,397	5,500	52,529
Substandard	—	272	248	5,504	8,192	6,491	4,938	148	25,645
Doubtful	—	—	—	2,015	—	152	—	100	2,167

Total	38,053	288,764	210,754	142,240	150,168	245,613	268,235	7,878	1,343,827
Current period gross charge-offs	—	—	—	—	49	331			380
Premium Finance
Pass	120,789	140,876	2,361	54	—	—	—	—	264,080




Total	120,789	140,876	2,361	54	—	—	—	—	264,080
Current period gross charge-offs	—	33	14	24	—	—			71
Leases
Pass	42,962	140,613	116,131	53,851	21,147	5,716	—	—	380,420
Special mention	—	742	2,118	572	137	3	—	—	3,572
Substandard	—	2,201	2,765	2,183	583	113	—	—	7,845
Doubtful	—	336	1,980	1,136	52	113	—	—	3,617

Total	42,962	143,892	122,994	57,742	21,919	5,945	—	—	395,454
Current period gross charge-offs	—	191	1,938	2,690	574	261			5,654
Residential real estate
Pass	20,021	76,315	64,708	83,506	125,460	466,807	—	—	836,817

Substandard	—	167	835	260	985	9,069	—	—	11,316

Loss	—	5	7	9	—	14	—	—	35
Total	20,021	76,487	65,550	83,775	126,445	475,890	—	—	848,168
Current period gross charge-offs	—	—	27	—	54	61			142
Home equity lines of credit
Pass	8,555	55,513	35,860	37,688	26,717	69,940	23	3,407	234,296

Substandard	—	—	106	296	16	688	—	—	1,106
Loss	—	—	—	—	—	7	—	—	7
Total	8,555	55,513	35,966	37,984	26,733	70,635	23	3,407	235,409
Current period gross charge-offs	—	—	—	—	—	—			—
Consumer, indirect
Pass	77,083	225,426	158,529	130,515	47,959	37,984	—	—	677,496

Substandard	—	433	581	727	516	472	—	—	2,729

Loss	—	1	2	8	15	9	—	—	35
Total	77,083	225,860	159,112	131,250	48,490	38,465	—	—	680,260
Current period gross charge-offs	14	635	637	388	134	58			1,866
Consumer, direct
Pass	19,982	33,921	22,842	18,622	8,124	6,840	—	—	110,331



	Term Loans at Amortized Cost by Origination Year													Revolving Loans Converted to Term
(Dollars in thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans		Total Loans
Substandard	—		38		76		87		29		68		—	—	298

Loss	—		2		1		6		—		1		—	—	10
Total	19,982		33,961		22,919		18,715		8,153		6,909		—	—	110,639
Current period gross charge-offs	11		48		23		57		9		7				155
Deposit account overdrafts	1,047		—		—		—		—		—		—	—	1,047
Current period gross charge-offs	277		—		—		—		—		—				277
Total loans, at amortized cost	429,575		1,204,831		1,072,002		910,554		809,855		1,687,468		314,241	16,324	6,428,526
Total current period gross charge-offs	$	302	$	907	$	2,639	$	3,315	$	820	$	777			$	8,760

The following table summarizes the risk category of loans within Peoples' loan portfolio, including acquired loans, based upon the then most recent analysis performed at December 31, 2024:



	Term Loans at Amortized Cost by Origination Year
(Dollars in thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
Construction
Pass	$	69,862	$	162,605	$	47,133	$	30,592	$	1,845	$	13,540	$	—	$	—	$	325,577
Special mention	—		—		—		—		—		115		—		—		115
Substandard	—		1,161		1,535		—		—		—		—		—		2,696


Total	69,862		163,766		48,668		30,592		1,845		13,655		—		—		328,388
Current period gross charge-offs	—		—		—		—		—		—						—
Commercial real estate, other
Pass	130,971		219,105		366,256		337,905		201,367		751,415		41,122		—		2,048,141
Special mention	271		2,923		11,876		7,197		5,107		10,689		288		—		38,351
Substandard	145		1,073		2,460		18,851		9,234		37,136		612		—		69,511
Doubtful	—		—		—		—		—		10		—		—		10

Total	131,387		223,101		380,592		363,953		215,708		799,250		42,022		—		2,156,013
Current period gross charge-offs	—		—		376		—		—		55						431
Commercial and industrial
Pass	311,631		202,929		134,558		148,288		66,102		152,143		229,821		4,779		1,245,472
Special mention	779		9,019		10,886		4,449		12,049		13,537		19,465		—		70,184
Substandard	200		99		4,791		11,429		3,850		4,430		5,045		49		29,844
Doubtful	—		—		1,987		—		—		158		—		—		2,145

Total	312,610		212,047		152,222		164,166		82,001		170,268		254,331		4,828		1,347,645
Current period gross charge-offs	—		14		—		17		105		532						668
Premium finance
Pass	265,504		3,837		94		—		—		—		—		—		269,435
Total	265,504		3,837		94		—		—		—		—		—		269,435
Current period gross charge-offs	67		109		33		—		—		—						209



	Term Loans at Amortized Cost by Origination Year
(Dollars in thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans	Revolving Loans Converted to Term	Total Loans
Leases
Pass	175,449		125,664		61,064		24,181		4,661		2,153		—	—	393,172
Special mention	791		1,529		1,140		365		5		—		—	—	3,830
Substandard	351		2,108		1,777		193		8		—		—	—	4,437
Doubtful	170		2,127		1,859		624		110		269		—	—	5,159

Total	176,761		131,428		65,840		25,363		4,784		2,422		—	—	406,598
Current period gross charge-offs	1,315		5,623		5,421		2,308		301		138				15,106
Residential real estate
Pass	77,130		66,712		85,045		128,359		52,090		414,574		—	—	823,910

Substandard	321		1,088		161		980		306		8,087		—	—	10,943

Loss	—		4		—		—		—		244		—	—	248
Total	77,451		67,804		85,206		129,339		52,396		422,905		—	—	835,101
Current period gross charge-offs	—		—		46		5		—		237				288
Home equity lines of credit
Pass	54,724		37,417		37,752		27,430		16,583		57,303		24	731	231,233

Substandard	—		138		163		16		34		1,069		—	—	1,420

Loss	—		—		—		—		—		8		—	—	8
Total	54,724		37,555		37,915		27,446		16,617		58,380		24	731	232,661
Current period gross charge-offs	—		—		—		—		—		11				11
Consumer, indirect
Pass	239,584		176,115		148,210		56,846		30,231		16,129		—	—	667,115

Substandard	269		557		681		618		312		251		—	—	2,688

Loss	14		—		16		14		—		10		—	—	54
Total	239,867		176,672		148,907		57,478		30,543		16,390		—	—	669,857
Current period gross charge-offs	497		2,207		1,880		691		141		763				6,179
Consumer, direct
Pass	45,978		25,605		21,544		9,614		4,180		3,884		—	—	110,805

Substandard	18		65		46		29		4		73		—	—	235

Loss	—		4		—		—		—		8		—	—	12
Total	45,996		25,674		21,590		9,643		4,184		3,965		—	—	111,052
Current period gross charge-offs	2		154		212		51		12		247				678
Deposit account overdrafts	1,253		—		—		—		—		—		—	—	1,253
Current period gross charge-offs	1,542		$	—	$	—	$	—	$	—	$	—			1,542
Total loans, at amortized cost	1,375,415		1,041,884		941,034		807,980		408,078		1,487,235		296,377	5,559	6,358,003
Current period gross charge-offs	$	3,423	$	8,107	$	7,968	$	3,072	$	559	$	1,983			$	25,112

Summary of Amortized Cost of Collateral Dependent Loans

The following table details Peoples' amortized cost of collateral dependent loans:


(Dollars in thousands)	March 31, 2025		December 31, 2024


Commercial real estate, other	$	1,887		$	2,764

Leases	1,789			652
Commercial and industrial	—			959




Total collateral dependent loans	$	3,676		$	4,375

Summary of Financing Receivables Modified

The following tables display the amortized cost of loans that were restructured during the three months ended March 31, 2025 and March 31, 2024, presented by loan classification.


	Payment Delay (Only)
(Dollars in thousands)	Payment Deferral		Term Extension		Principal Forgiveness		Total		Percentage of Total by Loan Category(a)(b)(c)

During the Three Months Ended March 31, 2025

Commercial real estate	$	—	$	2,445	—		$	2,445	0.11	%
Commercial and industrial	—		5,646		—		5,646		0.42	%
Leasing	12		—		68		80		0.02	%





Total	$	12	$	8,091	$	68	$	8,171	0.13	%


During the Three Months Ended March 31, 2024

Commercial real estate	—		565		—		565		0.03	%
Commercial and industrial	—		10,203		—		10,203		0.84	%
Leasing	25		—		—		25		0.01	%
Residential real estate	—		76		—		76		0.01	%




Total	$	25	$	10,844	$	—	$	10,869	0.18	%
(a) 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. (b) The table presented above excludes loans that were paid off or otherwise no longer included in the loan portfolio as of period end.
(c) Each with --% not meaningful

The following tables summarize the financial impacts of loan modifications and payment deferrals made to loans during the three months ended March 31, 2025 and March 31, 2024, presented by loan classification.


						Weighted-Average Term Extension (in months)
During the Three Months Ended March 31, 2025

Commercial real estate						3
Commercial and industrial						8






During the Three Months Ended March 31, 2024

Commercial real estate						6
Commercial and industrial						6
Leasing						9
Residential real estate						2

The following table displays an aging analysis of loans that were modified during the 12 months prior to March 31, 2025 and March 31, 2024, respectively, presented by classification and class of financing receivable.


As of March 31, 2025
(Dollars in thousands)	30-59 Days Delinquent		60-89 Days Delinquent		90+ Days Delinquent		Total Delinquent		Current		Total

Commercial real estate	1,058		69		—		1,127		1,887		3,014
Commercial and industrial	—		—		117		117		7,789		7,906
Leasing	300		—		638		938		250		1,188
Residential real estate	—		—		—		—		15		15
Home equity lines of credit	—		—		—		—		158		158
Consumer, indirect	—		—		12		12		—		12


Total loans modified(a)	$	1,358	$	69	$	767	$	2,194	$	10,099	$	12,293
(a) Represents the amortized cost basis as of period end.


As of March 31, 2024
(Dollars in thousands)	30-59 Days Delinquent		60-89 Days Delinquent		90+ Days Delinquent		Total Delinquent		Current		Total
Construction	$	—	$	—	$	—	$	—	$	70	$	70
Commercial real estate	193		—		—		193		2,443		2,636
Commercial and industrial	—		667		648		1,315		12,752		14,067
Leasing	—		—		—		—		25		25
Residential real estate	76		—		—		76		24		100
Home equity lines of credit	—		—		—		—		207		207



Total loans modified(a)	$	269	$	667	$	648	$	1,584	$	15,521	$	17,105

(a) Represents the amortized cost basis as of period end.

Summary of Defaulted Financing Receivables Modified

The following tables display the amortized cost of loans that received a completed modification or payment deferral within the previous 12 months and that had a payment default in the periods 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.


	Term Extension(a)
For the Three Months Ended March 31, 2025


Commercial and industrial	117
Leasing	638





Total loans that subsequently defaulted	$	755













For the Three Months Ended March 31, 2024


Commercial and industrial	648






Total loans that subsequently defaulted	$	648














(a) 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.

Summary of Activity in Allowance for Loan and Lease Losses

Changes in the allowance for credit losses for the three months ended March 31, 2025 and March 31, 2024 are summarized below:


(Dollars in thousands)	Beginning Balance, December 31, 2024		Initial Allowance for Acquired PCD Assets		(Recovery of) Provision for Credit Losses (a)		Charge-offs		Recoveries		Ending Balance, March 31, 2025
Construction	$	878	$	—	$	278	$	—	$	—	$	1,156
Commercial real estate, other	16,256		—		1,110		(215)		4		17,155
Commercial and industrial	13,283		—		(126)		(380)		6		12,783
Premium finance	662		—		49		(71)		6		646
Leases	12,893		—		6,091		(5,654)		245		13,575
Residential real estate	6,491		—		388		(142)		49		6,786
Home equity lines of credit	1,792		—		71		—		—		1,863
Consumer, indirect	8,576		—		1,776		(1,866)		210		8,696
Consumer, direct	2,396		—		213		(155)		20		2,474
Deposit account overdrafts	121		—		155		(277)		99		98
Total	$	63,348	$	—	$	10,005	$	(8,760)	$	639	$	65,232

(a)Amount does not include the provision for the allowance for credit losses on unfunded commitments.


(Dollars in thousands)	Beginning Balance, December 31, 2023		Initial Allowance for Acquired PCD Assets		Provision for (Recovery of) Credit Losses (a)		Charge-offs		Recoveries		Ending Balance, March 31, 2024
Construction	$	699	$	—	$	2	$	—	$	—	$	701
Commercial real estate, other	20,915		—		1,002		(212)		83		21,788
Commercial and industrial	10,490		—		319		(235)		7		10,581
Premium finance	484		—		169		(54)		8		607
Leases	10,850		—		3,097		(1,270)		212		12,889
Residential real estate	5,937		—		(74)		(80)		83		5,866
Home equity lines of credit	1,588		—		94		—		7		1,689
Consumer, indirect	8,590		—		1,101		(1,461)		71		8,301
Consumer, direct	2,343		—		153		(226)		9		2,279
Deposit account overdrafts	115		—		268		(336)		74		121
Total	$	62,011	$	—	$	6,131	$	(3,874)	$	554	$	64,822

(a)Amount does not include the provision for the allowance for credit losses on unfunded commitments.

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill

The following table details changes in the recorded amount of goodwill:


	For the Three Months Ended		For the Year Ended
(Dollars in thousands)	March 31, 2025		December 31, 2024
Goodwill, beginning of period	$	363,199	$	362,169
Goodwill recorded from acquisitions	—		1,030
Goodwill, end of period	$	363,199	$	363,199

Summary of Other Intangible Assets

Other intangible assets were comprised of the following at March 31, 2025, and at December 31, 2024:


(Dollars in thousands)	Core Deposits		Customer Relationships		Indefinite-Lived Trade Names		Total
March 31, 2025
Gross intangibles	$	54,186	$	38,470	$	2,491	$	95,147
Intangibles recorded from acquisitions	—		—		—		—
Accumulated amortization	(32,697)		(26,754)		—		(59,451)
Total acquisition-related intangibles	$	21,489	$	11,716	$	2,491	$	35,696
Servicing rights							1,105
Non-compete agreements							99
Total other intangibles							$	36,900

December 31, 2024
Gross intangibles	$	54,186	$	37,920	$	2,491	$	94,597
Intangibles recorded from acquisitions	—		550		—		550
Accumulated amortization	(31,545)		(25,723)		—		(57,268)
Total acquisition-related intangibles	$	22,641	$	12,747	$	2,491	$	37,879
Servicing rights							1,216
Non-compete agreements							128
Total other intangibles							$	39,223

Summary of Future Amortization of Intangible Assets

The following table details estimated aggregate future amortization of other intangible assets at March 31, 2025:


(Dollars in thousands)	Core Deposits		Customer Relationships		Non-Compete Agreements		Total
Remaining nine months of 2025	$	3,456	$	3,092	$	83	$	6,631
2026	3,736		3,036		16		$	6,788
2027	3,043		2,188		—		$	5,231
2028	2,608		1,462		—		$	4,070
2029	2,359		971		—		$	3,330
Thereafter	6,287		967		—		$	7,254
Total	$	21,489	$	11,716	$	99	$	33,304

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Banking and Thrift, Other Disclosure [Abstract]

Deposits (Tables)

3 Months Ended

Mar. 31, 2025

Summary of Deposit Balances

Peoples’ deposit balances were comprised of the following:


(Dollars in thousands)	March 31, 2025		December 31, 2024
Retail certificates of deposits ("CDs"):
$100 or more	$	1,122,896	$	1,092,261
Less than $100	843,082		829,154
Total Retail CDs	1,965,978		1,921,415
Interest-bearing deposit accounts	1,086,112		1,085,152
Savings accounts	895,677		866,959
Money market deposit accounts	967,331		878,254
Governmental deposit accounts	834,409		775,782

Brokered CDs	458,957		554,982
Total interest-bearing deposits	6,208,464		6,082,544
Non-interest-bearing deposits	1,526,285		1,507,661
Total deposits	$	7,734,749	$	7,590,205

Summary of Time Deposit Maturities

Uninsured time deposits are broken out below by time remaining until maturity.


(Dollars in thousands)	March 31, 2025		December 31, 2024
3 months or less	$	144,606	$	180,405
Over 3 to 6 months	118,957		127,329
Over 6 to 12 months	117,076		91,197
Over 12 months	45,048		18,044
Total	$	425,687	$	416,975

The contractual maturities of CDs for each of the next five years, including the remainder of 2025, and thereafter are as follows:


(Dollars in thousands)	Retail		Brokered		Total
Remaining nine months ending December 31, 2025	$	1,492,301	$	292,800	$	1,785,101
Year ending December 31, 2026	436,648		16,379		453,027
Year ending December 31, 2027	23,223		82,419		105,642
Year ending December 31, 2028	6,973		21,526		28,499
Year ending December 31, 2029	5,660		45,833		51,493
Thereafter	1,173		—		1,173
Total CDs	$	1,965,978	$	458,957	$	2,424,935

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Summary of Common Stock and Treasury Stock

The following table details the progression in Peoples’ common shares and treasury stock during the three months ended March 31, 2025:


	Common Shares	Treasury Stock
Shares at December 31, 2024	36,782,601	1,311,175
Changes related to stock-based compensation awards:

Release of restricted common shares	—	50,671
Cancellation of restricted common shares	—	30,633

Grant of restricted common shares	—	(160,269)
Grant of unrestricted common shares	—	—

Purchase of treasury stock	—	3,045
Disbursed out of treasury stock	—	(954)
Common shares repurchased under share repurchase program	—	—
Common shares issued under dividend reinvestment plan	12,506	—
Common shares issued under compensation plan for Boards of Directors	—	(3,890)

Common shares issued under employee stock purchase plan	—	(10,149)


Shares at March 31, 2025	36,795,107	1,220,262

Summary of Dividends Declared

The following table details the cash dividends declared per common share during the first two quarters of 2025 and the comparable periods of 2024:


	2025		2024
First quarter	$	0.40	$	0.39
Second quarter	0.41		0.40


Total dividends declared	$	0.81	$	0.79

Summary of Accumulated Other Comprehensive (Loss) Income

The following table details the change in the components of Peoples’ accumulated other comprehensive (loss) income during the three months ended March 31, 2025:


(Dollars in thousands)	Unrealized (Loss) Gain on Securities		Unrealized Gain on Cash Flow Hedges		Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2024	$	(111,829)	$	1,444	$	(110,385)
Reclassification adjustments to net income:
Realized loss on securities, net of tax	2		—		2

Realized loss on cash flow hedges, net of tax			(326)		(326)
Other comprehensive income (loss), net of reclassifications and tax	15,199		(181)		15,018
Balance, March 31, 2025	$	(96,628)	$	937	$	(95,691)

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-SubTopic 10
-Topic 210
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Summary of Calculations of Basic and Diluted Earnings per Common Share

Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

The calculations of basic and diluted earnings per common share were as follows:


	Three Months Ended
	March 31,
(Dollars in thousands, except per common share data)	2025		2024
Net income available to common shareholders	$	24,336	$	29,584
Less: Dividends paid on unvested common shares	210		143
Less: Undistributed income allocated to unvested common shares	37		64
Net earnings allocated to common shareholders	$	24,089	$	29,377

Weighted-average common shares outstanding	34,895,723		34,740,349
Effect of potentially dilutive common shares	401,412		311,461
Total weighted-average diluted common shares outstanding	35,297,135		35,051,810

Earnings per common share:
Basic	$	0.69	$	0.85
Diluted	$	0.68	$	0.84
Anti-dilutive common shares excluded from calculation:
Restricted common shares	149,082		3,180

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Interest Rate Swaps Designated as Cash Flow Hedges

The following table summarizes information about the interest rate swaps designated as cash flow hedges:


(Dollars in thousands)	March 31, 2025			December 31, 2024
Notional amount	$	65,000		$	75,000
Weighted average pay rates	2.58		%	2.45		%
Weighted average receive rates	4.19		%	4.49		%
Weighted average maturity	1.5 years			1.5 years
Pre-tax changes in fair value included in AOCI	$	1,293		$	1,885

Summary of Gains or Losses Recorded in AOCI

The following table presents changes in fair value recorded in AOCI and in the Consolidated Statements of Operations related to the cash flow hedges:


	Three Months Ended
	March 31,
(Dollars in thousands)	2025		2024
Amount of losses (gains) recorded in AOCI, pre-tax	$	661	$	(256)

Summary of Cash Flow Hedges

The following table reflects the cash flow hedges, which are included in the Unaudited Consolidated Balance Sheets at fair value:


	March 31, 2025				December 31, 2024
(Dollars in thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value
Included in "Other assets":
Interest rate swaps related to debt	$	65,000	$	1,207	$	75,000	$	1,784

Summary of Derivatives Not Designated as Hedging

The following table reflects the non-designated hedges, which are included in the Unaudited Consolidated Balance Sheets at fair value:


	March 31, 2025				December 31, 2024
(Dollars in thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value
Included in "Other assets":
Interest rate swaps related to commercial loans	$	491,594	$	12,885	$	453,367	$	16,959

Included in "Accrued expenses and other liabilities":
Interest rate swaps related to commercial loans	$	491,594	$	12,965	$	453,367	$	17,046

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Shares Activity

The following table summarizes the changes to Peoples’ restricted common shares for the three months ended March 31, 2025:


	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, 2025	140,231	$	28.72	586,227	$	29.67
Awarded	2,069	31.39		159,097	33.41
Released	(5,316)	31.35		(141,821)	32.21
Forfeited	(7,731)	26.08		(23,799)	29.67
Outstanding at March 31, 2025	129,253	$	28.81	579,704	$	30.08

Summary of Stock-Based Compensation and Related Tax Benefit

The following table summarizes the amount of stock-based compensation expense and related tax benefit recognized for each period:


	Three Months Ended
	March 31,
(Dollars in thousands)	2025		2024
Employee stock-based compensation expense:
Stock grant expense	$	2,430	$	3,024
Employee stock purchase plan expense	45		66

Total employee stock-based compensation expense	2,475		3,090
Non-employee director stock-based compensation expense	116		138
Total stock-based compensation expense	2,591		3,228
Recognized tax benefit	(604)		(752)
Net stock-based compensation expense	$	1,987	$	2,476

Revenue (Tables)

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Summary of Revenue

The following table details Peoples' revenue from contracts with customers:


	Three Months Ended
	March 31,
(Dollars in thousands)	2025		2024
Insurance income:
Commission and fees from sale of insurance policies (a)	$	4,512	$	4,285

Performance-based commissions (b)	1,542		2,213
Trust and investment income:
Fiduciary income (a)	2,915		2,757
Brokerage income (a)	2,146		1,842
Electronic banking income:
Interchange income (a)	4,845		4,797
Promotional and usage income (a)	1,040		1,249
Deposit account service charges:
Ongoing maintenance fees for deposit accounts (a)	1,643		1,718
Transaction-based fees (b)	2,372		2,505
Commercial loan swap fees (b)	537		52
Other non-interest income transaction-based fees (b)	470		504
Total revenue from contracts with customers	$	22,022	$	21,922
Timing of revenue recognition:
Services transferred over time	$	17,101	$	16,648
Services transferred at a point in time	4,921		5,274
Total revenue from contracts with customers	$	22,022	$	21,922
(a) Services transferred over time. (b) Services transferred at a point in time.

Summary of Contract Assets and Liabilities

The following table details the changes in Peoples' contract assets and contract liabilities for the three-month period ended March 31, 2025:


	Contract Assets		Contract Liabilities
(Dollars in thousands)
Balance, January 1, 2025	$	899	$	5,771
Additional income receivable	5		—
Additional deferred income	—		—
Receipt of income previously receivable	(15)		—
Recognition of income previously deferred	—		(555)
Balance, March 31, 2025	$	889	$	5,216

Leases (Tables)

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Summary of Sales Type Lease Income

The table below details Peoples' lease income:


	Three Months Ended
(Dollars in thousands)	March 31, 2025		March 31, 2024
Interest and fees on leases (a)	$	10,198	$	12,067
Lease income	3,446		2,021

Total lease income	$	13,644	$	14,088

(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.

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)	March 31, 2025		December 31, 2024
Lease payments receivable, at amortized cost	$	431,584	$	448,027
Estimated residual values	33,558		33,129
Initial direct costs	6,581		7,148
Deferred revenue	(76,269)		(81,706)
Net investment in leases	395,454		406,598
Allowance for credit losses - leases	(13,575)		(12,893)
Net investment in leases, after allowance for credit losses	$	381,879	$	393,705

Summary of Sales Type Lease Maturity

The following table summarizes the contractual maturities of leases:


(Dollars in thousands)	Balance
Remaining nine months ending December 31, 2025	$	102,431
Year ending December 31, 2026	91,918
Year ending December 31, 2027	92,471
Year ending December 31, 2028	74,142
Year ending December 31, 2029	50,127
Thereafter	20,495
Lease payments receivable, at amortized cost	$	431,584

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
(Dollars in thousands)	March 31, 2025		March 31, 2024
Operating lease expense	$	713	$	735
Short-term lease expense	363		305
Variable lease expense	9		—
Total lease expense	$	1,085	$	1,040

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)	March 31, 2025			December 31, 2024
ROU assets:
Other assets	$	10,674		$	10,419
Lease liabilities:
Accrued expenses and other liabilities	$	11,254		$	10,968
Other information:
Weighted-average remaining lease term	8.7 years			9.0 years
Weighted-average discount rate	4.14		%	4.11		%
Additions for ROU assets obtained during the year	$	852		$	1,660

Summary of Operating Lease Maturities

The following table summarizes the maturity of remaining lease liabilities:


(Dollars in thousands)	Balance
Remaining nine months ending December 31, 2025	$	1,911
Year ending December 31, 2026	2,351
Year ending December 31, 2027	2,091
Year ending December 31, 2028	1,575
Year ending December 31, 2029	1,121
Thereafter	4,549
Total undiscounted lease payments	$	13,598
Imputed interest	$	(2,344)
Total lease liabilities	$	11,254

Summary of Significant Accounting Policies Narrative (Details)	3 Months Ended
	Mar. 31, 2025 segment
Accounting Policies [Abstract]
Number of operating segments	1
Number of reportable segments	1

Fair Value of Assets and Liabilities - Summary of Assets Measured on a Recurring Basis (Details) - USD ($)
$ in Thousands

Mar. 31, 2025

Dec. 31, 2024

Assets:

Reported Value Measurement

^[1]

$ 1,073,674

$ 1,083,555

Assets:

Equity investment securities

3,378

2,645

Nonqualified deferred compensation

5,164

4,898

Level 1 | Reported Value Measurement

Assets:

Nonqualified deferred compensation

5,164

4,898

Level 2 | Reported Value Measurement

Assets:

Nonqualified deferred compensation

0

U.S. Treasury and government agencies

Assets:

14,343

15,196

Assets:

213,063

209,083

Assets:

195,505

196,301

Assets:

593,979

601,802

Assets:

Bank-issued trust preferred securities

52,636

55,065

Assets:

4,148

6,108

Recurring | Level 1

Assets:

Equity investment securities

14,343

15,196

188

197

Derivative assets

0

Derivative liabilities

0

Recurring | Level 2

Assets:

Equity investment securities

1,059,331

1,068,359

245

244

Derivative assets

14,092

18,743

Derivative Asset, Statement of Financial Position [Extensible Enumeration]

Derivative liabilities

$ 12,965

$ 17,046

Other assets

Derivative Liability, Statement of Financial Position [Extensible Enumeration]

Accrued expenses and other liabilities

Recurring | U.S. Treasury and government agencies | Level 1

Assets:

Recurring | U.S. Treasury and government agencies | Level 2

$ 14,343

$ 15,196

Assets:

Recurring | U.S. government sponsored agencies | Level 1

0

Assets:

Recurring | U.S. government sponsored agencies | Level 2

0

Assets:

Recurring | States and political subdivisions | Level 1

213,063

209,083

Assets:

Recurring | States and political subdivisions | Level 2

0

Assets:

Recurring | Residential mortgage-backed securities | Level 1

195,505

196,301

Assets:

Recurring | Residential mortgage-backed securities | Level 2

0

Assets:

Recurring | Commercial mortgage-backed securities | Level 1

593,979

601,802

Assets:

Recurring | Commercial mortgage-backed securities | Level 2

0

Assets:

Recurring | Bank-issued trust preferred securities | Level 1

52,636

55,065

Assets:

Recurring | Bank-issued trust preferred securities | Level 2

0

Assets:

$ 4,148

$ 6,108

[1]	Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $237, respectively, at March 31, 2025, and $0 and $237, respectively, at December 31, 2024.

Fair Value of Assets and Liabilities - Summary of Assets and Liabilities Measured on a Non-Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Nonrecurring Basis
Allowance for credit losses (on PCD loans)	$ 65,232	$ 63,348	$ 64,822	$ 62,011
Nonrecurring Basis \| Level 2
Nonrecurring Basis
Loans held for sale	924	1,499
Other real estate owned	0	0
Allowance for credit losses (on PCD loans)	64	166
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	0	5,891
Nonrecurring Basis \| Level 3 \| Collateral dependent loans
Nonrecurring Basis
Collateral dependent loans	$ 3,676	$ 4,375

Fair Value of Assets and Liabilities - Summary of Financial Instruments Not Required to be Measured at Fair Value (Details) - USD ($)
$ in Thousands

Mar. 31, 2025

Dec. 31, 2024

Mar. 31, 2024

Dec. 31, 2023

Assets:

$ 753,703

$ 775,037

Loans and leases, net of deferred fees and costs

683,315

692,499

^[1]

6,428,526

6,358,003

144,843

143,710

Debt securities held to maturity, allowance for credit loss

237

Allowance for credit losses (on PCD loans)

65,232

63,348

$ 64,822

$ 62,011

Reported Value Measurement

Assets:

Federal Home Loan Bank ("FHLB") stock

753,703

775,037

14,797

24,606

Federal Reserve Bank ("FRB") stock

27,114

Other investment securities

3,814

3,073

Total other investment securities at cost

45,725

54,793

Assets:

Federal Home Loan Bank ("FHLB") stock

683,315

692,499

14,797

24,606

Federal Reserve Bank ("FRB") stock

27,114

Other investment securities

3,814

3,073

Total other investment securities at cost

45,725

54,793

Level 1 | Reported Value Measurement

Assets:

Cash and cash equivalents

186,978

217,664

Level 1 | Fair Value

Assets:

Cash and cash equivalents

186,978

217,664

Level 2 | Reported Value Measurement

Assets:

144,843

143,710

Deposits

7,734,749

7,590,205

Short-term borrowings

19,228

193,474

Long-term borrowings

237,000

238,073

Level 2 | Fair Value

Assets:

144,843

143,710

Level 3 | Reported Value Measurement

Deposits

6,891,785

6,713,360

Short-term borrowings

19,227

192,964

Long-term borrowings

258,355

258,195

Assets:

Loans and leases, net of deferred fees and costs

6,428,526

6,358,003

Level 3 | Fair Value

Assets:

Loans and leases, net of deferred fees and costs, fair value

6,346,657

6,240,751

Assets:

222,698

233,302

215,377

223,294

Debt securities held to maturity, allowance for credit loss

0

U.S. government sponsored agencies | Level 2 | Reported Value Measurement

Assets:

U.S. government sponsored agencies | Level 2 | Fair Value

222,698

233,302

Assets:

215,377

223,294

Assets:

142,513

142,691

112,471

110,848

Debt securities held to maturity, allowance for credit loss

237

States and political subdivisions | Level 2 | Reported Value Measurement

Assets:

States and political subdivisions | Level 2 | Fair Value

142,513

142,691

Assets:

112,471

110,848

Assets:

290,023

300,290

271,796

276,278

Debt securities held to maturity, allowance for credit loss

0

Residential mortgage-backed securities | Level 2 | Reported Value Measurement

Assets:

Residential mortgage-backed securities | Level 2 | Fair Value

290,023

300,290

Assets:

271,796

276,278

Assets:

98,469

98,754

83,671

82,079

Debt securities held to maturity, allowance for credit loss

0

Commercial mortgage-backed securities | Level 2 | Reported Value Measurement

Assets:

Commercial mortgage-backed securities | Level 2 | Fair Value

98,469

98,754

Assets:

$ 83,671

$ 82,079

[1]	Also referred to throughout this Quarterly Report on Form 10-Q as "total loans" and "loans held for investment."

Investment Securities - Summary of Available-for-sale Investment Securities (Details) - USD ($)
$ in Thousands

Mar. 31, 2025

Dec. 31, 2024

$ 1,199,677

$ 1,229,382

2,232

1,583

(128,235)

(147,410)

U.S. Treasury and government agencies

^[1]

1,073,674

1,083,555

14,250

15,317

154

87

(61)

(208)

14,343

15,196

223,585

224,167

239

53

(10,761)

(15,137)

213,063

209,083

223,325

225,074

39

16

(27,859)

(28,789)

195,505

196,301

673,730

693,886

1,799

1,391

(81,550)

(93,475)

593,979

601,802

60,287

64,438

1

36

(7,652)

(9,409)

Bank-issued trust preferred securities

52,636

55,065

4,500

6,500

0

(352)

(392)

$ 4,148

$ 6,108

[1]	Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $237, respectively, at March 31, 2025, and $0 and $237, respectively, at December 31, 2024.

Investment Securities - Summary of Gross Gains and Losses from Sales of Available-for-sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Gross gains realized	$ 25	$ 0
Gross losses realized	27	1
Net loss realized	$ (2)	$ (1)

Investment Securities - Summary of Available-for-sale Securities with Unrealized Loss (Details) $ in Thousands	Mar. 31, 2025 USD ($) security	Dec. 31, 2024 USD ($) security
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	$ 308,921	$ 257,325
Less than 12 months, unrealized loss	$ 5,432	$ 9,578
Less than 12 months, Number of securities \| security	126	168
12 months or more, fair value	$ 764,271	$ 768,333
12 months or more, unrealized loss	$ 122,803	$ 137,832
12 months or more, Number of securities \| security	456	444
Total fair value	$ 1,073,192	$ 1,025,658
Total unrealized loss	128,235	147,410
U.S. Treasury and government agencies
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	12,281	10,003
Less than 12 months, unrealized loss	$ 46	$ 174
Less than 12 months, Number of securities \| security	8	11
12 months or more, fair value	$ 2,062	$ 2,299
12 months or more, unrealized loss	$ 15	$ 34
12 months or more, Number of securities \| security	9	10
Total fair value	$ 14,343	$ 12,302
Total unrealized loss	61	208
U.S. government sponsored agencies
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	141,400	130,518
Less than 12 months, unrealized loss	$ 3,090	$ 5,816
Less than 12 months, Number of securities \| security	23	27
12 months or more, fair value	$ 71,663	$ 70,982
12 months or more, unrealized loss	$ 7,671	$ 9,321
12 months or more, Number of securities \| security	13	13
Total fair value	$ 213,063	$ 201,500
Total unrealized loss	10,761	15,137
States and political subdivisions
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	30,058	28,400
Less than 12 months, unrealized loss	$ 910	$ 1,188
Less than 12 months, Number of securities \| security	35	55
12 months or more, fair value	$ 165,447	$ 160,210
12 months or more, unrealized loss	$ 26,949	$ 27,601
12 months or more, Number of securities \| security	154	138
Total fair value	$ 195,505	$ 188,610
Total unrealized loss	27,859	28,789
Residential mortgage-backed securities
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	116,813	85,043
Less than 12 months, unrealized loss	$ 1,313	$ 2,300
Less than 12 months, Number of securities \| security	54	69
12 months or more, fair value	$ 477,184	$ 482,609
12 months or more, unrealized loss	$ 80,237	$ 91,175
12 months or more, Number of securities \| security	255	256
Total fair value	$ 593,997	$ 567,652
Total unrealized loss	81,550	93,475
Commercial mortgage-backed securities
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	8,369	2,868
Less than 12 months, unrealized loss	$ 73	$ 93
Less than 12 months, Number of securities \| security	6	5
12 months or more, fair value	$ 44,267	$ 46,619
12 months or more, unrealized loss	$ 7,579	$ 9,316
12 months or more, Number of securities \| security	23	24
Total fair value	$ 52,636	$ 49,487
Total unrealized loss	7,652	9,409
Bank-issued trust preferred securities
Available-for-sale securities that had an unrealized loss:
Less than 12 months, fair value	0	493
Less than 12 months, unrealized loss	$ 0	$ 7
Less than 12 months, Number of securities \| security	0	1
12 months or more, fair value	$ 3,648	$ 5,614
12 months or more, unrealized loss	$ 352	$ 385
12 months or more, Number of securities \| security	2	3
Total fair value	$ 3,648	$ 6,107
Total unrealized loss	$ 352	$ 392

Investment Securities - Narrative (Details)	3 Months Ended		12 Months Ended
Investment Securities - Narrative (Details)	Mar. 31, 2025 USD ($) security	Mar. 31, 2024 USD ($)	Dec. 31, 2024 USD ($) security
Schedule of Available-for-sale Securities
12 months or more, number of securities \| security	456		444
Gross gains (losses) from sales of held to maturity	$ 0		$ 0
Debt securities held to maturity, allowance for credit loss	$ 237,000		237,000
Federal and state income tax rate	23.30%
Proceeds from sale of FHLB stock	$ 11,400,000
Purchase of FRB stock	1,600,000
Unrealized loss	9,000
Unrealized gain		$ 47,000
Debt securities available for sale, allowance for credit loss	$ 0		$ 0
Bank-issued trust preferred securities
Schedule of Available-for-sale Securities
12 months or more, number of securities \| security	2		3
U.S. government sponsored agencies
Schedule of Available-for-sale Securities
12 months or more, number of securities \| security	13		13
Debt securities held to maturity, allowance for credit loss	$ 0		$ 0
Investment Securities
Schedule of Available-for-sale Securities
Interest receivable	$ 10,900,000		$ 9,900,000

Investment Securities -Summary of Investment Securities by Contractual Maturity (Details) - USD ($)
$ in Thousands

Mar. 31, 2025

Dec. 31, 2024

Debt securities, maturing within 1 year, amortized cost

$ 10,966

Debt securities, maturing 1 to 5 years, amortized cost

124,288

Debt securities, maturing 5 to 10 years, amortized cost

239,497

Debt securities, maturing over 10 years, amortized cost

824,926

Debt securities, maturing within 1 year, fair value

1,199,677

$ 1,229,382

10,881

Debt securities, maturing 5 to 10 years, fair value

116,577

218,834

Debt securities, maturing over 10 years, fair value

727,382

Available-for-sale securities, maturing within 1 year, weighted average yield

^[1]

$ 1,073,674

1,083,555

2.93%

Available-for-sale securities, maturing 1 to 5 years, weighted average yield

2.30%

Available-for-sale securities, maturing 5 to 10 years, weighted average yield

2.97%

Available-for-sale securities, maturing over 10 years, weighted average yield

2.76%

Available-for-sale securities, total weighted average yield

2.76%

U.S. Treasury and government agencies

Debt securities, maturing within 1 year, amortized cost

$ 1,036

Debt securities, maturing 1 to 5 years, amortized cost

1,270

Debt securities, maturing 5 to 10 years, amortized cost

6,498

Debt securities, maturing over 10 years, amortized cost

5,446

Debt securities, maturing within 1 year, fair value

14,250

15,317

1,034

Debt securities, maturing 5 to 10 years, fair value

1,266

6,609

Debt securities, maturing over 10 years, fair value

5,434

14,343

15,196

Debt securities, maturing within 1 year, amortized cost

1,490

Debt securities, maturing 1 to 5 years, amortized cost

67,658

Debt securities, maturing 5 to 10 years, amortized cost

72,103

Debt securities, maturing over 10 years, amortized cost

82,334

Debt securities, maturing within 1 year, fair value

223,585

224,167

1,453

Debt securities, maturing 5 to 10 years, fair value

62,924

70,186

Debt securities, maturing over 10 years, fair value

78,500

213,063

209,083

Debt securities, maturing within 1 year, amortized cost

7,982

Debt securities, maturing 1 to 5 years, amortized cost

39,143

Debt securities, maturing 5 to 10 years, amortized cost

79,366

Debt securities, maturing over 10 years, amortized cost

96,834

Debt securities, maturing within 1 year, fair value

223,325

225,074

7,936

Debt securities, maturing 5 to 10 years, fair value

37,015

67,795

Debt securities, maturing over 10 years, fair value

82,759

195,505

196,301

Debt securities, maturing within 1 year, amortized cost

6

Debt securities, maturing 1 to 5 years, amortized cost

4,110

Debt securities, maturing 5 to 10 years, amortized cost

52,483

Debt securities, maturing over 10 years, amortized cost

617,131

Debt securities, maturing within 1 year, fair value

673,730

693,886

6

Debt securities, maturing 5 to 10 years, fair value

4,025

49,051

Debt securities, maturing over 10 years, fair value

540,897

593,979

601,802

Debt securities, maturing within 1 year, amortized cost

452

Debt securities, maturing 1 to 5 years, amortized cost

10,607

Debt securities, maturing 5 to 10 years, amortized cost

26,047

Debt securities, maturing over 10 years, amortized cost

23,181

Debt securities, maturing within 1 year, fair value

60,287

64,438

452

Debt securities, maturing 5 to 10 years, fair value

9,884

22,508

Debt securities, maturing over 10 years, fair value

19,792

Bank-issued trust preferred securities

52,636

55,065

Debt securities, maturing within 1 year, amortized cost

0

Debt securities, maturing 1 to 5 years, amortized cost

1,500

Debt securities, maturing 5 to 10 years, amortized cost

3,000

Debt securities, maturing over 10 years, amortized cost

0

Debt securities, maturing within 1 year, fair value

4,500

6,500

0

Debt securities, maturing 5 to 10 years, fair value

1,463

2,685

Debt securities, maturing over 10 years, fair value

0

$ 4,148

$ 6,108

[1]	Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $237, respectively, at March 31, 2025, and $0 and $237, respectively, at December 31, 2024.

Investment Securities - Summary of Held-to-maturity Investment Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 753,703	$ 775,037
Allowance for Credit Losses	(237)	(237)
Gross Unrealized Gains	1,742	610
Gross Unrealized Losses	(71,893)	(82,911)
Fair Value	683,315	692,499
U.S. government sponsored agencies
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	222,698	233,302
Allowance for Credit Losses	0	0
Gross Unrealized Gains	532	219
Gross Unrealized Losses	(7,853)	(10,227)
Fair Value	215,377	223,294
States and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	142,513	142,691
Allowance for Credit Losses	(237)	(237)
Gross Unrealized Gains	125	110
Gross Unrealized Losses	(29,930)	(31,716)
Fair Value	112,471	110,848
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	290,023	300,290
Allowance for Credit Losses	0	0
Gross Unrealized Gains	1,085	281
Gross Unrealized Losses	(19,312)	(24,293)
Fair Value	271,796	276,278
Commercial mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	98,469	98,754
Allowance for Credit Losses	0	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(14,798)	(16,675)
Fair Value	$ 83,671	$ 82,079

Investment Securities - Summary of Held-to-maturity Securities with Unrealized Loss (Details) $ in Thousands	Mar. 31, 2025 USD ($) security	Dec. 31, 2024 USD ($) security
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	$ 328,674	$ 277,526
Less than 12 months, unrealized loss	$ 2,162	$ 6,697
Less than 12 months, no. of securities \| security	39	62
12 months or more, fair value	$ 351,756	$ 346,649
12 months or more, unrealized loss	$ 69,731	$ 76,214
12 months or more, no. of securities \| security	151	149
Total fair value	$ 680,430	$ 624,175
Total unrealized loss	71,893	82,911
U.S. government sponsored agencies
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	178,241	150,390
Less than 12 months, unrealized loss	$ 947	$ 2,464
Less than 12 months, no. of securities \| security	20	29
12 months or more, fair value	$ 37,136	$ 38,901
12 months or more, unrealized loss	$ 6,906	$ 7,763
12 months or more, no. of securities \| security	10	11
Total fair value	$ 215,377	$ 189,291
Total unrealized loss	7,853	10,227
States and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	1,228	957
Less than 12 months, unrealized loss	$ 76	$ 44
Less than 12 months, no. of securities \| security	1	1
12 months or more, fair value	$ 108,357	$ 106,716
12 months or more, unrealized loss	$ 29,854	$ 31,672
12 months or more, no. of securities \| security	66	66
Total fair value	$ 109,585	$ 107,673
Total unrealized loss	29,930	31,716
Residential mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	140,441	116,576
Less than 12 months, unrealized loss	$ 1,030	$ 2,808
Less than 12 months, no. of securities \| security	16	27
12 months or more, fair value	$ 131,355	$ 130,556
12 months or more, unrealized loss	$ 18,282	$ 21,485
12 months or more, no. of securities \| security	43	43
Total fair value	$ 271,796	$ 247,132
Total unrealized loss	19,312	24,293
Commercial mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 months, fair value	8,764	9,603
Less than 12 months, unrealized loss	$ 109	$ 1,381
Less than 12 months, no. of securities \| security	2	5
12 months or more, fair value	$ 74,908	$ 70,476
12 months or more, unrealized loss	$ 14,689	$ 15,294
12 months or more, no. of securities \| security	32	29
Total fair value	$ 83,672	$ 80,079
Total unrealized loss	$ 14,798	$ 16,675

Investment Securities - Summary of Held-to-maturity Securities by Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, maturing within 1 year, amortized cost	$ 7,733
Debt securities, maturing 1 to 5 years, amortized cost	20,313
Debt securities, maturing 5 to 10 years, amortized cost	136,168
Debt securities, maturing over 10 years, amortized cost	589,489
Amortized Cost	753,703	$ 775,037
Debt securities, maturing within 1 year, fair value	7,643
Debt securities, maturing 1 to 5 years, fair value	19,071
Debt securities, maturing 5 to 10 years, fair value	127,262
Debt securities, maturing over 10 years, fair value	529,339
Debt securities, held-to-maturity, fair value	$ 683,315	692,499
Held-to-maturity securities, maturing within 1 year, weighted average yield	1.79%
Held-to-maturity securities, maturing 1 to 5 years, weighted average yield	1.90%
Held-to-maturity securities, maturing 6 to 10 years, weighted average yield	3.79%
Held-to-maturity securities, maturing over 10 years, weighted average yield	3.94%
Held-to-maturity securities, total weighted average yield	3.83%
U.S. government sponsored agencies
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, maturing within 1 year, amortized cost	$ 2,935
Debt securities, maturing 1 to 5 years, amortized cost	3,498
Debt securities, maturing 5 to 10 years, amortized cost	76,118
Debt securities, maturing over 10 years, amortized cost	140,147
Amortized Cost	222,698	233,302
Debt securities, maturing within 1 year, fair value	2,853
Debt securities, maturing 1 to 5 years, fair value	3,347
Debt securities, maturing 5 to 10 years, fair value	75,883
Debt securities, maturing over 10 years, fair value	133,294
Debt securities, held-to-maturity, fair value	215,377	223,294
States and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, maturing within 1 year, amortized cost	2,798
Debt securities, maturing 1 to 5 years, amortized cost	5,830
Debt securities, maturing 5 to 10 years, amortized cost	22,131
Debt securities, maturing over 10 years, amortized cost	111,754
Amortized Cost	142,513	142,691
Debt securities, maturing within 1 year, fair value	2,790
Debt securities, maturing 1 to 5 years, fair value	5,614
Debt securities, maturing 5 to 10 years, fair value	18,188
Debt securities, maturing over 10 years, fair value	85,879
Debt securities, held-to-maturity, fair value	112,471	110,848
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	147
Debt securities, maturing 5 to 10 years, amortized cost	3,811
Debt securities, maturing over 10 years, amortized cost	286,065
Amortized Cost	290,023	300,290
Debt securities, maturing within 1 year, fair value	0
Debt securities, maturing 1 to 5 years, fair value	146
Debt securities, maturing 5 to 10 years, fair value	3,411
Debt securities, maturing over 10 years, fair value	268,239
Debt securities, held-to-maturity, fair value	271,796	276,278
Commercial mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Debt securities, maturing within 1 year, amortized cost	2,000
Debt securities, maturing 1 to 5 years, amortized cost	10,838
Debt securities, maturing 5 to 10 years, amortized cost	34,108
Debt securities, maturing over 10 years, amortized cost	51,523
Amortized Cost	98,469	98,754
Debt securities, maturing within 1 year, fair value	2,000
Debt securities, maturing 1 to 5 years, fair value	9,964
Debt securities, maturing 5 to 10 years, fair value	29,780
Debt securities, maturing over 10 years, fair value	41,927
Debt securities, held-to-maturity, fair value	$ 83,671	$ 82,079

Investment Securities - Summary of Other Investment Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Other Investments Carrying Value [Line Items]
Total other investment securities	$ 51,322	$ 60,132
Carrying Amount
Other Investments Carrying Value [Line Items]
FHLB stock	14,797	24,606
FRB stock	27,114	27,114
Nonqualified deferred compensation	5,164	4,898
Equity investment securities	3,378	2,645
Other investment securities	$ 869	$ 869

Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI).

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Debt Securities, Available-for-sale [Line Items]

Investment Securities - Summary of Pledged Securities (Details) - USD ($)
$ in Thousands

Mar. 31, 2025

Dec. 31, 2024

Held-to-maturity

^[1]

$ 753,466

$ 774,800

Asset Pledged as Collateral | Securing public and trust department deposits, and repurchase agreements:

Debt Securities, Available-for-sale [Line Items]

Available-for-sale

547,471

505,963

Held-to-maturity

627,605

563,014

Asset Pledged as Collateral | Securing additional borrowing capacity at the FHLB and the FRB:

Debt Securities, Available-for-sale [Line Items]

Available-for-sale

3,116

3,119

Held-to-maturity

$ 1,208

$ 1,215

[1]	Available-for-sale investment securities and held-to-maturity investment securities are presented net of allowance for credit losses of $0 and $237, respectively, at March 31, 2025, and $0 and $237, respectively, at December 31, 2024.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Accounts, Notes, Loans and Financing Receivable [Line Items]

Loans and Leases - Summary of Loans by Classification (Details) - USD ($)
$ in Thousands

Mar. 31, 2025

Dec. 31, 2024

Accounts, Notes, Loans and Financing Receivable [Line Items]

^[1]

$ 6,428,526

$ 6,358,003

Loans Receivable

Accounts, Notes, Loans and Financing Receivable [Line Items]

6,428,526

6,358,003

Construction

Commercial real estate, other

319,104

328,388

Accounts, Notes, Loans and Financing Receivable [Line Items]

Commercial and industrial

2,230,538

2,156,013

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

1,343,827

1,347,645

Premium finance

264,080

269,435

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

395,454

406,598

Residential real estate

Home equity lines of credit

848,168

835,101

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

235,409

232,661

Consumer, indirect

Accounts, Notes, Loans and Financing Receivable [Line Items]

680,260

669,857

Consumer, direct

Deposit account overdrafts

110,639

111,052

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

$ 1,047

$ 1,253

[1]	Also referred to throughout this Quarterly Report on Form 10-Q as "total loans" and "loans held for investment."

Loans and Leases - Narrative (Details) $ in Thousands	3 Months Ended
Loans and Leases - Narrative (Details) $ in Thousands	Mar. 31, 2025 USD ($) loan	Mar. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Deferred loan costs	$ 20,400		$ 20,200
Percent of loans considered current	98.50%		98.70%
Total collateral dependent loans	$ 1,000
Aggregate credit exposure threshold	1,000
Provision for (recovery of) credit losses	10,005	$ 6,131
Net charge-off	8,100
Credit loss liability	2,200		$ 2,000
Collateral Pledged
Financing Receivable, Allowance for Credit Loss [Line Items]
Total collateral dependent loans	3,676		4,375
Loans Receivable
Financing Receivable, Allowance for Credit Loss [Line Items]
Unamortized discount	15,800		19,500
Interest receivable	24,100		23,100
Premium finance
Financing Receivable, Allowance for Credit Loss [Line Items]
Decrease in accruing loans 90 days or more past due	2,400
Provision for (recovery of) credit losses	49	169
Residential real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Decrease in accruing loans 90 days or more past due	1,300
Provision for (recovery of) credit losses	388	(74)
Commercial Real Estate Loan and Commercial And Industrial Loan \| Collateral Pledged
Financing Receivable, Allowance for Credit Loss [Line Items]
Collateral dependent loans paid off during period	3,000
Commercial real estate, other
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for (recovery of) credit losses	1,110	1,002
Commercial real estate, other \| Collateral Pledged
Financing Receivable, Allowance for Credit Loss [Line Items]
Total collateral dependent loans	$ 1,887		2,764
Number of collateral dependent loans paid off during period \| loan	1
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for (recovery of) credit losses	$ (126)	$ 319
Commercial and industrial \| Collateral Pledged
Financing Receivable, Allowance for Credit Loss [Line Items]
Total collateral dependent loans	$ 0		$ 959
Number of collateral dependent loans paid off during period \| loan	1

Loans and Leases - Summary of Nonaccrual and Past Due Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	$ 35,628	$ 34,129
Accruing Loans 90+ Days Past Due	4,207	8,637
Financing receivable, nonaccrual, no allowance	2,600	5,700
Commercial real estate, other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	5,378	7,136
Accruing Loans 90+ Days Past Due	284	227
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	5,747	6,809
Accruing Loans 90+ Days Past Due	106	78
Premium finance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	0	0
Accruing Loans 90+ Days Past Due	2,502	4,947
Leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	12,079	8,850
Accruing Loans 90+ Days Past Due	218	803
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	8,163	7,329
Accruing Loans 90+ Days Past Due	853	2,166
Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	1,537	1,498
Accruing Loans 90+ Days Past Due	47	213
Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	2,521	2,374
Accruing Loans 90+ Days Past Due	77	159
Consumer, direct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual	203	133
Accruing Loans 90+ Days Past Due	$ 120	$ 44

Loans and Leases - Summary of Aging of The Recorded Investment In Past Due Loans and Leases (Details) - USD ($)
$ in Thousands

Mar. 31, 2025

Dec. 31, 2024

Accounts, Notes, Loans and Financing Receivable [Line Items]

^[1]

$ 6,428,526

$ 6,358,003

Construction

Commercial real estate, other

319,104

328,388

Accounts, Notes, Loans and Financing Receivable [Line Items]

Commercial and industrial

2,230,538

2,156,013

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

1,343,827

1,347,645

Premium finance

264,080

269,435

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

395,454

406,598

Residential real estate

Home equity lines of credit

848,168

835,101

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

235,409

232,661

Consumer, indirect

Accounts, Notes, Loans and Financing Receivable [Line Items]

680,260

669,857

Consumer, direct

Deposit account overdrafts

110,639

111,052

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

1,047

1,253

Total

Accounts, Notes, Loans and Financing Receivable [Line Items]

94,256

84,925

Total | Construction

Total | Commercial real estate, other

0

Accounts, Notes, Loans and Financing Receivable [Line Items]

Total | Commercial and industrial

7,116

8,893

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

6,446

6,785

Total | Premium finance

Accounts, Notes, Loans and Financing Receivable [Line Items]

6,323

9,266

Total | Leases

Total | Residential real estate

45,832

25,757

Accounts, Notes, Loans and Financing Receivable [Line Items]

Total | Home equity lines of credit

16,440

19,790

Accounts, Notes, Loans and Financing Receivable [Line Items]

Total | Consumer, indirect

2,652

2,883

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

8,576

10,416

Total | Consumer, direct

Total | Deposit account overdrafts

871

1,135

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

30 - 59 days

30 - 59 days | Construction

54,657

39,161

Accounts, Notes, Loans and Financing Receivable [Line Items]

30 - 59 days | Commercial real estate, other

0

Accounts, Notes, Loans and Financing Receivable [Line Items]

30 - 59 days | Commercial and industrial

1,967

1,300

Accounts, Notes, Loans and Financing Receivable [Line Items]

30 - 59 days | Premium finance

1,119

1,651

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

2,005

3,863

30 - 59 days | Leases

30 - 59 days | Residential real estate

31,007

10,941

Accounts, Notes, Loans and Financing Receivable [Line Items]

30 - 59 days | Home equity lines of credit

10,129

11,481

Accounts, Notes, Loans and Financing Receivable [Line Items]

30 - 59 days | Consumer, indirect

1,430

1,473

Accounts, Notes, Loans and Financing Receivable [Line Items]

30 - 59 days | Consumer, direct

6,486

7,568

Accounts, Notes, Loans and Financing Receivable [Line Items]

30 - 59 days | Deposit account overdrafts

514

884

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

60 - 89 days

60 - 89 days | Construction

12,883

12,855

Accounts, Notes, Loans and Financing Receivable [Line Items]

60 - 89 days | Commercial real estate, other

0

Accounts, Notes, Loans and Financing Receivable [Line Items]

60 - 89 days | Commercial and industrial

2,605

1,585

Accounts, Notes, Loans and Financing Receivable [Line Items]

60 - 89 days | Premium finance

1,587

583

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

1,816

456

60 - 89 days | Leases

60 - 89 days | Residential real estate

3,260

5,241

Accounts, Notes, Loans and Financing Receivable [Line Items]

60 - 89 days | Home equity lines of credit

2,306

3,038

Accounts, Notes, Loans and Financing Receivable [Line Items]

60 - 89 days | Consumer, indirect

357

317

Accounts, Notes, Loans and Financing Receivable [Line Items]

60 - 89 days | Consumer, direct

803

1,522

Accounts, Notes, Loans and Financing Receivable [Line Items]

60 - 89 days | Deposit account overdrafts

149

113

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

90 + Days

Accounts, Notes, Loans and Financing Receivable [Line Items]

26,716

32,909

90 + Days | Construction

90 + Days | Commercial real estate, other

0

Accounts, Notes, Loans and Financing Receivable [Line Items]

90 + Days | Commercial and industrial

2,544

6,008

Accounts, Notes, Loans and Financing Receivable [Line Items]

90 + Days | Premium finance

3,740

4,551

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

2,502

4,947

90 + Days | Leases

90 + Days | Residential real estate

11,565

9,575

Accounts, Notes, Loans and Financing Receivable [Line Items]

90 + Days | Home equity lines of credit

4,005

5,271

Accounts, Notes, Loans and Financing Receivable [Line Items]

90 + Days | Consumer, indirect

865

1,093

Accounts, Notes, Loans and Financing Receivable [Line Items]

90 + Days | Consumer, direct

1,287

1,326

Accounts, Notes, Loans and Financing Receivable [Line Items]

90 + Days | Deposit account overdrafts

208

138

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

Current Loans

Current Loans | Construction

6,334,270

6,273,078

Accounts, Notes, Loans and Financing Receivable [Line Items]

Current Loans | Commercial real estate, other

319,104

328,388

Accounts, Notes, Loans and Financing Receivable [Line Items]

Current Loans | Commercial and industrial

2,223,422

2,147,120

Accounts, Notes, Loans and Financing Receivable [Line Items]

Current Loans | Premium finance

1,337,381

1,340,860

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

257,757

260,169

Current Loans | Leases

Current Loans | Residential real estate

349,622

380,841

Accounts, Notes, Loans and Financing Receivable [Line Items]

Current Loans | Home equity lines of credit

831,728

815,311

Accounts, Notes, Loans and Financing Receivable [Line Items]

Current Loans | Consumer, indirect

232,757

229,778

Accounts, Notes, Loans and Financing Receivable [Line Items]

Current Loans | Consumer, direct

671,684

659,441

Accounts, Notes, Loans and Financing Receivable [Line Items]

Current Loans | Deposit account overdrafts

109,768

109,917

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

$ 1,047

$ 1,253

[1]	Also referred to throughout this Quarterly Report on Form 10-Q as "total loans" and "loans held for investment."

Loans and Leases - Summary of Pledged Securities (Details) - USD ($)
$ in Thousands

Mar. 31, 2025

Dec. 31, 2024

Accounts, Notes, Loans and Financing Receivable [Line Items]

^[1]

$ 6,428,526

$ 6,358,003

Loans pledged to FHLB

Loans pledged to FHLB | Asset Pledged as Collateral

848,168

835,101

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

1,205,884

1,218,496

Loans pledged to FRB

Loans pledged to FRB | Asset Pledged as Collateral

1,343,827

1,347,645

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts, Notes, Loans and Financing Receivable [Line Items]

$ 604,590

$ 527,989

[1]	Also referred to throughout this Quarterly Report on Form 10-Q as "total loans" and "loans held for investment."

Loans and Leases - Summary of Loans by Risk Category (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2025

Mar. 31, 2024

Dec. 31, 2024

$ 429,575

$ 1,375,415

1,204,831

1,041,884

1,072,002

941,034

910,554

807,980

809,855

408,078

1,687,468

1,487,235

314,241

296,377

16,324

5,559

^[1]

6,428,526

6,358,003

Originated one year before fiscal year, charge-offs

302

3,423

907

8,107

Originated two years before fiscal year, charge-offs

2,639

7,968

Originated three years before fiscal year, charge-offs

3,315

3,072

Originated four years before fiscal year, charge-offs

820

559

777

1,983

Accounts, Notes, Loans and Financing Receivable [Line Items]

8,760

$ 3,874

25,112

Construction

7,760

69,862

90,100

163,766

171,982

48,668

36,254

30,592

6,762

1,845

6,246

13,655

0

234

0

319,104

328,388

Originated one year before fiscal year, charge-offs

0

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

0

Commercial real estate, other

0

Accounts, Notes, Loans and Financing Receivable [Line Items]

93,323

131,387

149,378

223,101

280,364

380,592

402,540

363,953

421,185

215,708

837,765

799,250

45,983

42,022

4,805

0

2,230,538

2,156,013

Originated one year before fiscal year, charge-offs

0

0

Originated two years before fiscal year, charge-offs

0

376

Originated three years before fiscal year, charge-offs

156

0

Originated four years before fiscal year, charge-offs

0

59

55

Commercial and industrial

215

212

431

Accounts, Notes, Loans and Financing Receivable [Line Items]

38,053

312,610

288,764

212,047

210,754

152,222

142,240

164,166

150,168

82,001

245,613

170,268

268,235

254,331

7,878

4,828

1,343,827

1,347,645

Originated one year before fiscal year, charge-offs

0

0

14

Originated two years before fiscal year, charge-offs

0

Originated three years before fiscal year, charge-offs

0

17

Originated four years before fiscal year, charge-offs

49

105

331

532

Accounts, Notes, Loans and Financing Receivable [Line Items]

380

235

668

Premium finance

120,789

265,504

140,876

3,837

2,361

94

54

0

0

0

0

0

264,080

269,435

Originated one year before fiscal year, charge-offs

0

67

33

109

Originated two years before fiscal year, charge-offs

14

33

Originated three years before fiscal year, charge-offs

24

0

Originated four years before fiscal year, charge-offs

0

0

71

54

209

Accounts, Notes, Loans and Financing Receivable [Line Items]

42,962

176,761

143,892

131,428

122,994

65,840

57,742

25,363

21,919

4,784

5,945

2,422

0

0

395,454

406,598

Originated one year before fiscal year, charge-offs

0

1,315

191

5,623

Originated two years before fiscal year, charge-offs

1,938

5,421

Originated three years before fiscal year, charge-offs

2,690

2,308

Originated four years before fiscal year, charge-offs

574

301

261

138

Accounts, Notes, Loans and Financing Receivable [Line Items]

5,654

1,270

15,106

Residential real estate

20,021

77,451

76,487

67,804

65,550

85,206

83,775

129,339

126,445

52,396

475,890

422,905

0

0

848,168

835,101

Originated one year before fiscal year, charge-offs

0

0

Originated two years before fiscal year, charge-offs

27

46

Originated three years before fiscal year, charge-offs

0

5

Originated four years before fiscal year, charge-offs

54

0

61

237

Home equity lines of credit

142

80

288

Accounts, Notes, Loans and Financing Receivable [Line Items]

8,555

54,724

55,513

37,555

35,966

37,915

37,984

27,446

26,733

16,617

70,635

58,380

23

24

3,407

731

235,409

232,661

Originated one year before fiscal year, charge-offs

0

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

0

11

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

11

Consumer, indirect

77,083

239,867

225,860

176,672

159,112

148,907

131,250

57,478

48,490

30,543

38,465

16,390

0

0

680,260

669,857

Originated one year before fiscal year, charge-offs

14

497

635

2,207

Originated two years before fiscal year, charge-offs

637

1,880

Originated three years before fiscal year, charge-offs

388

691

Originated four years before fiscal year, charge-offs

134

141

58

763

Accounts, Notes, Loans and Financing Receivable [Line Items]

1,866

1,461

6,179

Consumer, direct

19,982

45,996

33,961

25,674

22,919

21,590

18,715

9,643

8,153

4,184

6,909

3,965

0

0

110,639

111,052

Originated one year before fiscal year, charge-offs

11

2

48

154

Originated two years before fiscal year, charge-offs

23

212

Originated three years before fiscal year, charge-offs

57

51

Originated four years before fiscal year, charge-offs

9

12

7

247

Deposit account overdrafts

155

226

678

Accounts, Notes, Loans and Financing Receivable [Line Items]

1,047

1,253

0

0

0

0

0

0

0

1,047

1,253

Originated one year before fiscal year, charge-offs

277

1,542

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

0

Accounts, Notes, Loans and Financing Receivable [Line Items]

277

$ 336

1,542

Pass | Construction

7,760

69,862

90,100

162,605

170,833

47,133

34,732

30,592

6,762

1,845

6,133

13,540

0

234

0

Pass | Commercial real estate, other

316,320

325,577

Accounts, Notes, Loans and Financing Receivable [Line Items]

93,323

130,971

148,818

219,105

276,560

366,256

389,546

337,905

398,581

201,367

765,684

751,415

44,974

41,122

2,275

0

Pass | Commercial and industrial

2,117,486

2,048,141

Accounts, Notes, Loans and Financing Receivable [Line Items]

38,053

311,631

287,732

202,929

201,501

134,558

125,281

148,288

137,844

66,102

237,175

152,143

235,900

229,821

2,130

4,779

Accounts, Notes, Loans and Financing Receivable [Line Items]

1,263,486

1,245,472

Pass | Premium finance

120,789

265,504

140,876

3,837

2,361

94

54

0

0

0

0

0

Accounts, Notes, Loans and Financing Receivable [Line Items]

264,080

269,435

Pass | Leases

42,962

175,449

140,613

125,664

116,131

61,064

53,851

24,181

21,147

4,661

5,716

2,153

0

0

Pass | Residential real estate

380,420

393,172

Accounts, Notes, Loans and Financing Receivable [Line Items]

20,021

77,130

76,315

66,712

64,708

85,045

83,506

128,359

125,460

52,090

466,807

414,574

0

0

Pass | Home equity lines of credit

836,817

823,910

Accounts, Notes, Loans and Financing Receivable [Line Items]

8,555

54,724

55,513

37,417

35,860

37,752

37,688

27,430

26,717

16,583

69,940

57,303

23

24

3,407

731

Pass | Consumer, indirect

234,296

231,233

Accounts, Notes, Loans and Financing Receivable [Line Items]

77,083

239,584

225,426

176,115

158,529

148,210

130,515

56,846

47,959

30,231

37,984

16,129

0

0

Accounts, Notes, Loans and Financing Receivable [Line Items]

677,496

667,115

Pass | Consumer, direct

19,982

45,978

33,921

25,605

22,842

21,544

18,622

9,614

8,124

4,180

6,840

3,884

0

0

Special mention | Construction

110,331

110,805

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

0

0

0

0

113

115

0

0

Special mention | Commercial real estate, other

113

115

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

271

416

2,923

2,150

11,876

7,361

7,197

10,834

5,107

25,438

10,689

285

288

54

0

Special mention | Commercial and industrial

46,484

38,351

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

779

760

9,019

9,005

10,886

9,440

4,449

4,132

12,049

1,795

13,537

27,397

19,465

5,500

0

Accounts, Notes, Loans and Financing Receivable [Line Items]

52,529

70,184

Special mention | Leases

0

791

742

1,529

2,118

1,140

572

365

137

5

3

0

0

0

Substandard | Construction

3,572

3,830

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

0

1,161

1,149

1,535

1,522

0

0

0

0

0

Substandard | Commercial real estate, other

2,671

2,696

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

145

144

1,073

1,654

2,460

5,633

18,851

11,770

9,234

44,743

37,136

724

612

2,476

0

Substandard | Commercial and industrial

64,668

69,511

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

200

272

99

248

4,791

5,504

11,429

8,192

3,850

6,491

4,430

4,938

5,045

148

49

Accounts, Notes, Loans and Financing Receivable [Line Items]

25,645

29,844

Substandard | Leases

0

351

2,201

2,108

2,765

1,777

2,183

193

583

8

113

0

0

0

Substandard | Residential real estate

7,845

4,437

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

321

167

1,088

835

161

260

980

985

306

9,069

8,087

0

0

Substandard | Home equity lines of credit

11,316

10,943

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

0

138

106

163

296

16

16

34

688

1,069

0

0

Substandard | Consumer, indirect

1,106

1,420

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

269

433

557

581

681

727

618

516

312

472

251

0

0

Substandard | Consumer, direct

2,729

2,688

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

18

38

65

76

46

87

29

29

4

68

73

0

0

Doubtful | Commercial real estate, other

298

235

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

0

0

0

0

1,898

10

0

0

Doubtful | Commercial and industrial

1,898

10

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

0

0

1,987

2,015

0

0

152

158

0

100

0

Accounts, Notes, Loans and Financing Receivable [Line Items]

2,167

2,145

Doubtful | Leases

0

170

336

2,127

1,980

1,859

1,136

624

52

110

113

269

0

0

Loss | Commercial real estate, other

3,617

5,159

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

0

0

0

0

2

0

0

Loss | Residential real estate

2

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

5

4

7

0

9

0

0

14

244

0

0

Loss | Home equity lines of credit

35

248

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

0

0

0

0

7

8

0

0

Loss | Consumer, indirect

7

8

Accounts, Notes, Loans and Financing Receivable [Line Items]

0

14

1

0

2

16

8

14

15

0

9

10

0

0

Accounts, Notes, Loans and Financing Receivable [Line Items]

35

54

Loss | Consumer, direct

0

2

4

1

0

6

0

0

1

8

0

0

$ 10

$ 12

[1]	Also referred to throughout this Quarterly Report on Form 10-Q as "total loans" and "loans held for investment."

Loans and Leases - Summary of Collateral Dependent (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
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	3,676	$ 4,375
Commercial real estate, other \| Collateral Pledged
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total collateral dependent loans	1,887	2,764
Leases \| Collateral Pledged
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total collateral dependent loans	1,789	652
Commercial and industrial \| Collateral Pledged
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total collateral dependent loans	$ 0	$ 959

Loans and Leases - Summary of Amortized Cost of Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 8,171	$ 10,869
Percentage of Total by Loan Category	0.13%	0.18%
Payment Deferral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 12	$ 25
Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	8,091	10,844
Principal Forgiveness
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	68	0
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 2,445	$ 565
Percentage of Total by Loan Category	0.11%	0.03%
Commercial real estate \| Payment Deferral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 0	$ 0
Commercial real estate \| Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,445	565
Commercial real estate \| Principal Forgiveness
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 5,646	$ 10,203
Percentage of Total by Loan Category	0.42%	0.84%
Commercial and industrial \| Payment Deferral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 0	$ 0
Commercial and industrial \| Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	5,646	10,203
Commercial and industrial \| Principal Forgiveness
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 80	$ 25
Percentage of Total by Loan Category	0.02%	0.01%
Leasing \| Payment Deferral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 12	$ 25
Leasing \| Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	0
Leasing \| Principal Forgiveness
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 68	0
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		$ 76
Percentage of Total by Loan Category		0.01%
Residential real estate \| Payment Deferral
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		$ 0
Residential real estate \| Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		76
Residential real estate \| Principal Forgiveness
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total		$ 0

Loans and Leases - Summary of Loan Modifications and Payment Deferrals (Details)	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted-Average Term Extension (in months)	3 months	6 months
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted-Average Term Extension (in months)	8 months	6 months
Leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted-Average Term Extension (in months)		9 months
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted-Average Term Extension (in months)		2 months

Loans and Leases - Summary of Term Extension (Details) - Term Extension - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans that subsequently defaulted	$ 755	$ 648
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans that subsequently defaulted	117	$ 648
Leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans that subsequently defaulted	$ 638

Loans and Leases - Summary of Analysis of Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Mar. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	$ 12,293	$ 17,105
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	3,014	2,636
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	7,906	14,067
Leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	1,188	25
Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	15	100
Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	158	207
Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	12
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified		70
Total Delinquent
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	2,194	1,584
Total Delinquent \| Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	1,127	193
Total Delinquent \| Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	117	1,315
Total Delinquent \| Leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	938	0
Total Delinquent \| Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	76
Total Delinquent \| Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	0
Total Delinquent \| Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	12
Total Delinquent \| Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified		0
30 - 59 days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	1,358	269
30 - 59 days \| Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	1,058	193
30 - 59 days \| Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	0
30 - 59 days \| Leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	300	0
30 - 59 days \| Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	76
30 - 59 days \| Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	0
30 - 59 days \| Consumer, indirect
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
60 - 89 days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	69	667
60 - 89 days \| Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	69	0
60 - 89 days \| Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	667
60 - 89 days \| Leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	0
60 - 89 days \| Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	0
60 - 89 days \| Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	0
60 - 89 days \| Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0
60 - 89 days \| Construction
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	767	648
90 + Days \| Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	0
90 + Days \| Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	117	648
90 + Days \| Leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	638	0
90 + Days \| Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	0
90 + Days \| Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	0	0
90 + Days \| Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	12
90 + Days \| Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified		0
Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	10,099	15,521
Current \| Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	1,887	2,443
Current \| Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	7,789	12,752
Current \| Leasing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	250	25
Current \| Residential real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	15	24
Current \| Home equity lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	158	207
Current \| Consumer, indirect
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified	$ 0
Current \| Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans modified		$ 70

Loans and Leases - Summary of Activity in Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 63,348	$ 62,011	$ 62,011
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	10,005	6,131
Charge-offs	(8,760)	(3,874)	(25,112)
Recoveries	639	554
Ending balance	65,232	64,822	63,348
Construction
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	878	699	699
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	278	2
Charge-offs	0	0	0
Recoveries	0	0
Ending balance	1,156	701	878
Commercial real estate, other
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	16,256	20,915	20,915
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	1,110	1,002
Charge-offs	(215)	(212)	(431)
Recoveries	4	83
Ending balance	17,155	21,788	16,256
Commercial and industrial
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	13,283	10,490	10,490
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	(126)	319
Charge-offs	(380)	(235)	(668)
Recoveries	6	7
Ending balance	12,783	10,581	13,283
Premium finance
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	662	484	484
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	49	169
Charge-offs	(71)	(54)	(209)
Recoveries	6	8
Ending balance	646	607	662
Leases
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	12,893	10,850	10,850
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	6,091	3,097
Charge-offs	(5,654)	(1,270)	(15,106)
Recoveries	245	212
Ending balance	13,575	12,889	12,893
Residential real estate
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	6,491	5,937	5,937
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	388	(74)
Charge-offs	(142)	(80)	(288)
Recoveries	49	83
Ending balance	6,786	5,866	6,491
Home equity lines of credit
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	1,792	1,588	1,588
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	71	94
Charge-offs	0	0	(11)
Recoveries	0	7
Ending balance	1,863	1,689	1,792
Consumer, indirect
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	8,576	8,590	8,590
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	1,776	1,101
Charge-offs	(1,866)	(1,461)	(6,179)
Recoveries	210	71
Ending balance	8,696	8,301	8,576
Consumer, direct
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	2,396	2,343	2,343
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	213	153
Charge-offs	(155)	(226)	(678)
Recoveries	20	9
Ending balance	2,474	2,279	2,396
Deposit account overdrafts
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Beginning balance	121	115	115
Initial Allowance for Acquired PCD Assets	0	0
(Recovery of) Provision for Credit Losses	155	268
Charge-offs	(277)	(336)	(1,542)
Recoveries	99	74
Ending balance	$ 98	$ 121	$ 121

Goodwill and Other Intangible Assets - Summary of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 363,199	$ 362,169
Goodwill recorded from acquisitions	0	1,030
Goodwill, end of period	$ 363,199	$ 363,199

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Goodwill and Other Intangible Assets - Summary of Other Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Intangibles recorded from acquisitions	$ 0	$ 550
Accumulated amortization	(59,451)	(57,268)
Total acquisition-related intangibles	33,304
Total gross intangibles	95,147	94,597
Total acquisition-related intangibles	35,696	37,879
Servicing rights	1,105	1,216
Non-compete agreements	99	128
Total other intangibles	36,900	39,223
Indefinite-Lived Trade Names
Finite-Lived Intangible Assets [Line Items]
Intangibles recorded from acquisitions	0	0
Gross intangibles	2,491	2,491
Total acquisition-related intangibles	2,491	2,491
Core Deposits
Finite-Lived Intangible Assets [Line Items]
Gross intangibles	54,186	54,186
Intangibles recorded from acquisitions	0	0
Accumulated amortization	(32,697)	(31,545)
Total acquisition-related intangibles	21,489	22,641
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross intangibles	38,470	37,920
Intangibles recorded from acquisitions	0	550
Accumulated amortization	(26,754)	(25,723)
Total acquisition-related intangibles	$ 11,716	$ 12,747

Goodwill and Other Intangible Assets - Summary of Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remaining nine months of 2025	$ 6,631
2026	6,788
2027	5,231
2028	4,070
2029	3,330
Thereafter	7,254
Total acquisition-related intangibles	33,304
Core Deposits
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remaining nine months of 2025	3,456
2026	3,736
2027	3,043
2028	2,608
2029	2,359
Thereafter	6,287
Total acquisition-related intangibles	21,489	$ 22,641
Customer Relationships
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remaining nine months of 2025	3,092
2026	3,036
2027	2,188
2028	1,462
2029	971
Thereafter	967
Total acquisition-related intangibles	11,716	$ 12,747
Non-Compete Agreements
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remaining nine months of 2025	83
2026	16
2027	0
2028	0
2029	0
Thereafter	0
Total acquisition-related intangibles	$ 99

Goodwill and Other Intangible Assets - Narrative (Details)	3 Months Ended
	Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average amortization period	7 years 7 months 6 days

Deposits - Summary of Deposit Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Deposit Liability [Line Items]
Time deposits	$ 2,424,935
Interest-bearing deposit accounts	1,086,112	$ 1,085,152
Savings accounts	895,677	866,959
Money market deposit accounts	967,331	878,254
Governmental deposit accounts	834,409	775,782
Total interest-bearing deposits	6,208,464	6,082,544
Non-interest-bearing deposits	1,526,285	1,507,661
Total deposits	7,734,749	7,590,205
Brokered CDs
Deposit Liability [Line Items]
Time deposits	458,957	554,982
Retail certificates of deposits ("CDs"):
Deposit Liability [Line Items]
$100 or more	1,122,896	1,092,261
Less than $100	843,082	829,154
Time deposits	$ 1,965,978	$ 1,921,415

Deposits - Narrative (Details)	Mar. 31, 2025 USD ($) contract	Dec. 31, 2024 USD ($)
Deposit Liability [Line Items]
Time deposits exceeding FDIC limit	$ 2,100,000,000	$ 2,000,000,000
Interest Rate Swap
Deposit Liability [Line Items]
Number of derivative instruments \| contract	7
Notional amount	$ 65,000,000	75,000,000
Asset Pledged as Collateral
Deposit Liability [Line Items]
Investment securities	0	0
Asset Pledged as Collateral \| Deposits
Deposit Liability [Line Items]
Investment securities	$ 725,500,000	$ 656,900,000

Deposits - Broken Out by Time Remaining Until Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Banking and Thrift, Other Disclosure [Abstract]
3 months or less	$ 144,606	$ 180,405
Over 3 to 6 months	118,957	127,329
Over 6 to 12 months	117,076	91,197
Over 12 months	45,048	18,044
Total	$ 425,687	$ 416,975

Deposits - Summary of Time Deposit Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Time Deposits, Fiscal Year Maturity [Abstract]
Remaining nine months ending December 31, 2025	$ 1,785,101
Year ending December 31, 2026	453,027
Year ending December 31, 2027	105,642
Year ending December 31, 2028	28,499
Year ending December 31, 2029	51,493
Thereafter	1,173
Total CDs	2,424,935
Brokered
Time Deposits, Fiscal Year Maturity [Abstract]
Remaining nine months ending December 31, 2025	292,800
Year ending December 31, 2026	16,379
Year ending December 31, 2027	82,419
Year ending December 31, 2028	21,526
Year ending December 31, 2029	45,833
Thereafter	0
Total CDs	458,957	$ 554,982
Retail
Time Deposits, Fiscal Year Maturity [Abstract]
Remaining nine months ending December 31, 2025	1,492,301
Year ending December 31, 2026	436,648
Year ending December 31, 2027	23,223
Year ending December 31, 2028	6,973
Year ending December 31, 2029	5,660
Thereafter	1,173
Total CDs	$ 1,965,978	$ 1,921,415

Stockholders' Equity - Summary of Common Stock and Treasury Stock (Details)	3 Months Ended
	Mar. 31, 2025 shares
Increase (Decrease) in Stock by Class [Roll Forward]
Common stock, beginning of period (in shares)	36,782,601
Treasury stock, beginning of period (in shares)	1,311,175
Changes related to stock-based compensation awards:
Common stock, end of period (in shares)	36,795,107
Treasury stock, end of period (in shares)	1,220,262
Common Shares
Increase (Decrease) in Stock by Class [Roll Forward]
Common stock, beginning of period (in shares)	36,782,601
Changes related to stock-based compensation awards:
Release of restricted common shares (in shares)	0
Cancellation of restricted common shares (in shares)	0
Grant of restricted and unrestricted common shares (in shares)	0
Purchase of treasury stock (in shares)	0
Disbursed out of treasury stock (in shares)	0
Common shares repurchased under share repurchase program (in shares)	0
Common shares issued under dividend reinvestment plan (in shares)	12,506
Common shares issued under compensation plan for Boards of Directors (in shares)	0
Common shares issued under employee stock purchase plan (in shares)	0
Common stock, end of period (in shares)	36,795,107
Common Shares \| Restricted Shares
Changes related to stock-based compensation awards:
Grant of restricted and unrestricted common shares (in shares)	0
Treasury Stock
Increase (Decrease) in Stock by Class [Roll Forward]
Treasury stock, beginning of period (in shares)	1,311,175
Changes related to stock-based compensation awards:
Release of restricted common shares (in shares)	50,671
Cancellation of restricted common shares (in shares)	30,633
Grant of restricted and unrestricted common shares (in shares)	0
Purchase of treasury stock (in shares)	3,045
Disbursed out of treasury stock (in shares)	(954)
Common shares repurchased under share repurchase program (in shares)	0
Common shares issued under dividend reinvestment plan (in shares)	0
Common shares issued under compensation plan for Boards of Directors (in shares)	(3,890)
Common shares issued under employee stock purchase plan (in shares)	(10,149)
Treasury stock, end of period (in shares)	1,220,262
Treasury Stock \| Restricted Shares
Changes related to stock-based compensation awards:
Grant of restricted and unrestricted common shares (in shares)	(160,269)

Stockholders' Equity - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended			50 Months Ended
Stockholders' Equity - Narrative (Details) - USD ($)	Apr. 21, 2025	Mar. 31, 2025	Jun. 30, 2024	Mar. 31, 2024	Mar. 31, 2025	Dec. 31, 2024	Jan. 28, 2021
Class of Stock [Line Items]
Authorized amount							$ 30,000,000.0
Preferred stock, shares authorized (in shares)		50,000			50,000	50,000
Preferred stock, shares issued (in shares)		0			0	0
Preferred stock, shares outstanding (in shares)		0			0
Cash dividends declared per common share (in usd per share)		$ 0.40	$ 0.40	$ 0.39
Subsequent Event
Class of Stock [Line Items]
Cash dividends declared per common share (in usd per share)	$ 0.41
Share Repurchase Program Authorized On January 28, 2021
Class of Stock [Line Items]
Common shares repurchased under share repurchase program (in shares)		0		100,905	471,307
Repurchase of common stock				$ 3,000,000	$ 13,400,000

Stockholders' Equity - Summary of Dividends Declared (Details) - $ / shares	1 Months Ended	3 Months Ended			4 Months Ended	6 Months Ended
	Apr. 21, 2025	Mar. 31, 2025	Jun. 30, 2024	Mar. 31, 2024	Apr. 21, 2025	Jun. 30, 2024
Class of Stock [Line Items]
Cash dividends declared per common share (in usd per share)		$ 0.40	$ 0.40	$ 0.39
Total dividends declared (in usd per share)						$ 0.79
Subsequent Event
Class of Stock [Line Items]
Cash dividends declared per common share (in usd per share)	$ 0.41
Total dividends declared (in usd per share)					$ 0.81

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Stockholders' Equity - Summary of Accumulated Other Comprehensive (Loss) Income (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2025 USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,111,590
Realized loss on securities, net of tax	2
Realized loss on cash flow hedges, net of tax	(326)
Other comprehensive income (loss), net of reclassifications and tax	15,018
Ending balance	1,137,821
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(110,385)
Ending balance	(95,691)
Unrealized (Loss) Gain on Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(111,829)
Realized loss on securities, net of tax	2
Realized loss on cash flow hedges, net of tax
Other comprehensive income (loss), net of reclassifications and tax	15,199
Ending balance	(96,628)
Unrealized Gain on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	1,444
Realized loss on securities, net of tax	0
Realized loss on cash flow hedges, net of tax	(326)
Other comprehensive income (loss), net of reclassifications and tax	(181)
Ending balance	$ 937

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		51 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Mar. 31, 2025	Mar. 31, 2024	Mar. 31, 2025
Retirement Benefits [Abstract]
Employer matching percentage			100.00%
Contribution matched by employer			6.00%
Matching contributions	$ 1.5	$ 1.5

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Earnings Per Share [Abstract]
Net income available to common shareholders	$ 24,336	$ 29,584
Less: Dividends paid on unvested common shares	210	143
Less: Undistributed income allocated to unvested common shares	37	64
Net earnings allocated to common shareholders	$ 24,089	$ 29,377
Weighted-average common shares outstanding (in shares)	34,895,723	34,740,349
Effect of potentially dilutive common shares (in shares)	401,412	311,461
Total weighted-average diluted common shares outstanding (in shares)	35,297,135	35,051,810
Earnings per common share:
Basic (in usd per share)	$ 0.69	$ 0.85
Diluted (in usd per share)	$ 0.68	$ 0.84
Anti-dilutive common shares excluded from calculation:
Restricted common shares (in shares)	149,082	3,180

Derivative Financial Instruments - Narrative (Details)	3 Months Ended
Derivative Financial Instruments - Narrative (Details)	Mar. 31, 2025 USD ($) contract	Mar. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)
Derivative [Line Items]
Maximum length of time hedged	4 years
Interest rate cash flow gain (loss) reclassified into earnings	$ (400,000)	$ 900,000
AOCI reclassified as reduction in interest expense, during next 12 months	1,500,000
Cash pledged to peoples from counterparties	8,100,000		$ 12,300,000
Investment securities, counterparties pledged	1,900,000		1,900,000
Asset Pledged as Collateral
Derivative [Line Items]
Investment securities	0		0
Brokered Demand Deposits
Derivative [Line Items]
Notional amount	$ 65,000,000.0		75,000,000.0
Interest Rate Swap
Derivative [Line Items]
Number of derivative instruments \| contract	7
Notional amount	$ 65,000,000		75,000,000
Restricted cash	$ 0		$ 0

Derivative Financial Instruments - Summary of Interest Rate Swaps Designated as Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Derivative [Line Items]
Pre-tax changes in fair value included in AOCI	$ (236)	$ (640)
Interest Rate Swap
Derivative [Line Items]
Notional amount	$ 65,000		$ 75,000
Weighted average pay rates	2.58%		2.45%
Weighted average receive rates	4.19%		4.49%
Weighted average maturity	1 year 6 months		1 year 6 months
Pre-tax changes in fair value included in AOCI	$ 1,293		$ 1,885

Derivative Financial Instruments - Summary of Gains or Losses Recorded in AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amount of losses (gains) recorded in AOCI, pre-tax	$ 661	$ (256)

Derivative Financial Instruments - Summary of Cash Flow Hedges (Details) - Interest rate swaps related to commercial loans - Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Derivative [Line Items]
Derivative asset, notional amount	$ 65,000	$ 75,000
Derivative asset, fair value	$ 1,207	$ 1,784

Nominal or face amount used to calculate payments on the derivative asset.

+ References + Details

Derivative Financial Instruments - Summary of Derivatives Not Designated as Hedging (Details) - Interest rate swaps related to commercial loans - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Derivative [Line Items]
Derivative asset, notional amount	$ 491,594	$ 453,367
Derivative asset, fair value	12,885	16,959
Derivative liability, notional amount	491,594	453,367
Derivative liability, fair value	$ 12,965	$ 17,046

Nominal or face amount used to calculate payments on the derivative asset.

+ References + Details

Nominal or face amount used to calculate payments on the derivative liability.

+ References + Details

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan discount	15.00%
Unrecognized stock based compensation expense	$ 8.7
Period for recognition	2 years 2 months 12 days
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	$ 4.8	$ 2.2
Restricted Shares \| Performance-Based Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awarded (in shares)	159,097
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 - Summary of Restricted Shares Activity (Details) - Restricted Shares	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Time-Based Vesting
Number of Common Shares
Outstanding at January 1, 2025 (in shares) \| shares	140,231
Awarded (in shares) \| shares	2,069
Released (in shares) \| shares	(5,316)
Forfeited (in shares) \| shares	(7,731)
Outstanding at March 31, 2025 (in shares) \| shares	129,253
Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2025 (in usd per share) \| $ / shares	$ 28.72
Awarded (in usd per share) \| $ / shares	31.39
Released (in usd per share) \| $ / shares	31.35
Forfeited (in usd per share) \| $ / shares	26.08
Outstanding at March 31, 2025 (in usd per share) \| $ / shares	$ 28.81
Performance-Based Vesting
Number of Common Shares
Outstanding at January 1, 2025 (in shares) \| shares	586,227
Awarded (in shares) \| shares	159,097
Released (in shares) \| shares	(141,821)
Forfeited (in shares) \| shares	(23,799)
Outstanding at March 31, 2025 (in shares) \| shares	579,704
Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2025 (in usd per share) \| $ / shares	$ 29.67
Awarded (in usd per share) \| $ / shares	33.41
Released (in usd per share) \| $ / shares	32.21
Forfeited (in usd per share) \| $ / shares	29.67
Outstanding at March 31, 2025 (in usd per share) \| $ / shares	$ 30.08

Stock-Based Compensation - Summary of Stock-Based Compensation and Related Tax Benefit (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,591	$ 3,228
Recognized tax benefit	(604)	(752)
Net stock-based compensation expense	1,987	2,476
Total employee stock-based compensation expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2,475	3,090
Stock grant expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	2,430	3,024
Employee stock purchase plan expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	45	66
Non-employee director stock-based compensation expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 116	$ 138

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Revenue - Summary of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Disaggregation of Revenue [Line Items]
Commission and fees from sale of insurance policies	$ 4,512	$ 4,285
Performance-based commissions	1,542	2,213
Interchange income	4,845	4,797
Promotional and usage income	1,040	1,249
Ongoing maintenance fees for deposit accounts	1,643	1,718
Transaction-based fees	2,372	2,505
Other non-interest income transaction-based fees	470	504
Revenue	22,022	21,922
Services transferred over time
Disaggregation of Revenue [Line Items]
Revenue	17,101	16,648
Services transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenue	4,921	5,274
Commercial loan swap fees
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	537	52
Trust and investment income \| Fiduciary Income
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,915	2,757
Trust and investment income \| Brokerage Income
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 2,146	$ 1,842

Revenue - Summary of Contract Assets and Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2025 USD ($)
Contract Assets
Balance, January 1, 2025	$ 899
Additional income receivable	5
Receipt of income previously receivable	(15)
Balance, March 31, 2025	889
Contract Liabilities
Balance, January 1, 2025	5,771
Additional deferred income	0
Recognition of income previously deferred	(555)
Balance, March 31, 2025	$ 5,216

Leases - Summary of Sales Type Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Leases [Abstract]
Interest and fees on leases	$ 10,198	$ 12,067
Lease income	$ 3,446	$ 2,021
Sales-Type Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest and fees on loans and leases, Other non-interest income	Interest and fees on loans and leases, Other non-interest income
Total lease income	$ 13,644	$ 14,088

Leases - Summary of Sales Type Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Lessee, Lease, Description [Line Items]
Lease payments receivable, at amortized cost	$ 431,584	$ 448,027
Estimated residual values	33,558	33,129
Initial direct costs	6,581	7,148
Deferred revenue	(76,269)	(81,706)
Leases
Lessee, Lease, Description [Line Items]
Net investment in leases	395,454	406,598
Allowance for credit losses - leases	(13,575)	(12,893)
Net investment in leases, after allowance for credit losses	$ 381,879	$ 393,705

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

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