XML 31 R21.htm IDEA: XBRL DOCUMENT v3.22.2.2
Revenue from Contracts with Customers
 9 Months Ended
Sep. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customers Revenue from Contracts with Customers
Revenue is recognized as the obligation to the customer is satisfied. The following is detail of the Company’s revenue from contracts with clients.
Processing fees – The Company earns fees on a per-item or monthly basis for the invoice processing services rendered on behalf of customers. Per-item fees are recognized at the point in time when the performance obligation is satisfied. Monthly fees are earned over the course of a month, representing the period over which the performance obligation is satisfied. The contracts have no significant impact of variable consideration and no significant financing components.
Financial fees – The Company earns fees on a transaction level basis for invoice payment services when making customer payments. Fees are recognized at the point in time when the payment transactions are made, which is when the performance obligation is satisfied. The contracts have no significant impact of variable consideration and no significant financing components.
Bank service fees – Revenue from service fees consists of service charges and fees on deposit accounts under depository agreements with customers to provide access to deposited funds. Service charges on deposit accounts are transaction-based fees that are recognized at the point in time when the performance obligation is satisfied. Service charges are recognized on a monthly basis representing the period over which the performance obligation is satisfied. The contracts have no significant impact of variable consideration and no significant financing components.
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
(In thousands)2022202120222021
Fee revenue and other income
In-scope of FASB ASC 606
Processing fees $18,964 $18,461 $57,184 $55,882 
Financial fees11,252 8,624 32,406 23,122 
Information services payment and processing revenue 30,216 27,085 89,590 79,004 
Bank service fees 289 323 1,142 991 
Fee revenue (in-scope of FASB ASC 606) 30,505 27,408 90,732 79,995 
Other income (out-of-scope of FASB ASC 606) 1,279 169 2,133 744 
Total fee revenue and other income $31,784 $27,577 $92,865 $80,739