v3.26.1
Stockholders' Equity
 3 Months Ended
Mar. 31, 2026
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, 2026:
 Common SharesTreasury
Stock
Shares at December 31, 202536,836,943 1,215,120 
Changes related to stock-based compensation awards:  
Release of restricted common shares— 59,580 
Cancellation of restricted common shares— 7,683 
Grant of restricted common shares— (256,199)
Grant of unrestricted common shares— — 
Purchase of treasury stock— 3,321 
Disbursed out of treasury stock— (1,036)
Common shares repurchased under share repurchase program— — 
Common shares issued under dividend reinvestment plan11,659 — 
Common shares issued under compensation plan for Boards of Directors
— (3,990)
Common shares issued under employee stock purchase plan
— (6,876)
Shares at March 31, 202636,848,602 1,017,603 
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, 2026, Peoples had repurchased an aggregate of 501,999 common shares totaling $14.2 million under the share repurchase program. During the first quarters of 2026 and 2025, there were no purchases under the share repurchase program.
Under Peoples' Amended Articles of Incorporation, Peoples is authorized to issue up to 50,000 preferred shares, in one or more series, having such voting powers, designations, preferences, rights, qualifications, limitations and restrictions as designated by Peoples' Board of Directors. At March 31, 2026, Peoples had no preferred shares issued or outstanding.
On January 19, 2026, Peoples' Board of Directors declared a quarterly cash dividend of $0.41 per common share, payable on February 17, 2026, to shareholders of record on February 2, 2026. On April 20, 2026, People's Board of Directors declared a quarterly cash dividend of $0.42 per common share, payable on May 18, 2026 to shareholders of record on May 4, 2026. The following table details the cash dividends declared per common share during the first two quarters of 2026 as of April 2026 and the comparable periods of 2025:
20262025
First quarter$0.41 $0.40 
Second quarter0.42 0.41 
Total dividends declared$0.83 $0.81 

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, 2026, as related items impact the income statement:
(Dollars in thousands)Unrealized (Loss) Gain on SecuritiesUnrealized Gain (Loss) on Cash Flow HedgesAccumulated Other Comprehensive (Loss) Income
Balance, December 31, 2025$(71,019)$391 $(70,628)
Other comprehensive income (loss), net of reclassifications and tax
(5,419)5 (5,414)
Balance, March 31, 2026$(76,438)$396 $(76,042)