Noninterest Income

6 Months Ended

Jun. 30, 2020

Revenue From Contract With Customer [Abstract]

Noninterest Income

Note 13: Noninterest Income

The Company has included the following table regarding the Company’s noninterest income for the periods presented.

	For the three months					For the six months
	ended June 30,					ended June 30,
(In thousands)	2020			2019		2020			2019
Service fees
Insufficient funds fees	$	148		$	272	$	423		$	480
Deposit related fees		117			53		172			105
ATM fees		38			23		64			45
Total service fees		303			348		659			630
Fee Income
Insurance commissions		184			216		519			451
Investment services revenue		81			97		149			145
ATM fees surcharge		56			59		109			105
Banking house rents collected		71			33		142			68
Total fee income		392			405		919			769
Card income
Debit card interchange fees		205			187		368			331
Merchant card fees		15			22		31			38
Total card income		220			209		399			369
Mortgage fee income and realized gain on sale of loans   and foreclosed real estate
Loan servicing fees		79			60		128			87
Net gain on sales of loans and foreclosed real estate		97			13		769			5
Total mortgage fee income and realized gain on sale of    loans and foreclosed real estate		176			73		897			92
Total		1,091			1,035		2,874			1,860
Earnings and gain on bank owned life insurance		106			101		222			222
Net gains on sales and redemptions of investment    securities		1,023			32		1,049			111
(Losses)/gains on marketable equity securities		(722	)		16		(916	)		57
Other miscellaneous income		33			35		50			62
Total noninterest income	$	1,531		$	1,219	$	3,279		$	2,312

The following is a discussion of key revenues within the scope of the new revenue guidance:

• Service fees – Revenue is earned through insufficient funds fees, customer initiated activities or passage of time for deposit related fees, and ATM service fees. Transaction-based fees are recognized at the time the transaction is executed, which is the same time the Company’s performance obligation is satisfied.  Account maintenance fees are earned over the course of the month as the monthly maintenance performance obligation to the customer is satisfied.

• Fee income – Revenue is earned through commissions on insurance and securities sales, ATM surcharge fees, and banking house rents collected.  The Company earns investment advisory fee income by providing investment management services to customers under investment management contracts.  As the direction of investment management accounts is provided over time, the performance obligation to investment management customers is satisfied over time, and therefore, revenue is recognized over time.    

• Card income – Card income consists of interchange fees from consumer debit card networks and other related services.  Interchange rates are set by the card networks.  Interchange fees are based on purchase volumes and other factors and are recognized as transactions occur.

• Mortgage fee income and realized gain on sale of loans and foreclosed real estate – Revenue from mortgage fee income and realized gain on sale of loans and foreclosed real estate is earned through the origination of residential and commercial mortgage loans, sales of one-to-four family residential mortgage loans, sales of government guarantees portions of SBA loans, and sales of foreclosed real estate, and is earned as the transaction occurs.