Penrith Panthers have lured Peter Wallace back to the club for after the playmaker was granted an early release from his Broncos contract.

Wallace, 27, played 20 top-grade games for Penrith before joining Brisbane in 2008, going on to play four games for NSW.

Returning home: Brisbane Broncos halfback Peter Wallace in heading back to Penrith. Credit:Getty Images

“We’re very excited to have a local junior returning to Panthers. He’s been performing tremendously well for the mighty Brisbane Broncos for a number of years. Peter is a perfect fit with the culture that Coach Ivan Cleary has created for the Panthers club,'' general manager Phil Moss said.

''This now completes our recruitment for the 2014 season”.