These hearty black-eyed peas are simmered with smoked ham hocks, tomatoes, and pepperoncini peppers for a subtle kick and touch of sweetness.
Place black-eyed peas into a large container and cover with several inches of cool water; let soak at room temperature, 8 hours to overnight. Drain and rinse; set aside.
Heat olive oil in a large stockpot over medium heat. Add onion and garlic; cook and stir until onion becomes translucent, about 5 minutes. Pour in broth and water; bring to a boil, then reduce heat to a simmer. Stir in black-eyed peas, ham hocks, tomatoes, pepperoncini, bay leaf, garlic powder, thyme, salt, and pepper.
Cover and simmer until peas are tender, ham meat is falling off the bones, and broth is thickened, about 3 hours.