Revenue from Contracts with Customers

The following table summarizes total revenues as presented in the Unaudited Consolidated Statements of Income and the related amounts which are from contracts with customers within the scope of Topic 606. As shown below, a substantial portion of our revenues are specifically excluded from the scope of Topic 606.



For the three months ended March 31,	2019				2018
(Dollars in thousands)	As reported in Consolidated Statements of Income		Revenue from contracts in scope of Topic 606		As reported in Consolidated Statements of Income		Revenue from contracts in scope of Topic 606
Net interest income		$34,584		$—		$31,852		$—
Noninterest income:
Asset-based wealth management revenues	8,921		8,921		9,955		9,955
Transaction-based wealth management revenues	331		331		318		318
Total wealth management revenues	9,252		9,252		10,273		10,273
Mortgage banking revenues	2,646		—		2,838		—
Card interchange fees	997		997		847		847
Service charges on deposit accounts	875		875		863		863
Loan related derivative income	724		—		141		—
Income from bank-owned life insurance	649		—		515		—
Other income	224		224		266		266
Total noninterest income	15,367		11,348		15,743		12,249
Total revenues		$49,951		$11,348		$47,595		$12,249

The following table presents revenue from contracts with customers based on the timing of revenue recognition:



(Dollars in thousands)
Three months ended March 31,	2019		2018
Revenue recognized at a point in time:
Card interchange fees		$997		$847
Service charges on deposit accounts	662		672
Other income	179		226
Revenue recognized over time:
Wealth management revenues	9,252		10,273
Service charges on deposit accounts	213		191
Other income	45		40
Total revenues from contracts in scope of Topic 606		$11,348		$12,249

Receivables primarily consist of amounts due from customers for wealth management services performed for which the Corporation’s performance obligations have been fully satisfied. Receivables amounted to $5.0 million at March 31, 2019, compared to $4.8 million at December 31, 2018 and were included in other assets in the Unaudited Consolidated Balance Sheets.

Deferred revenues, which are considered contract liabilities under Topic 606, represent advance consideration received from customers for which the Corporation has a remaining performance obligation to fulfill. Contract liabilities are recognized as revenue over the life of the contract as the performance obligations are satisfied. The balances of contract liabilities were insignificant at both March 31, 2019 and December 31, 2018 and were included in other liabilities in the Unaudited Consolidated Balance Sheets.

For commissions and incentives that are in-scope of Topic 606, such as those paid to employees in our wealth management services and commercial banking segments in order to obtain customer contracts, contract cost assets are established. The contract cost assets are capitalized and amortized over the estimated useful life that the asset is expected to generate benefits. The carrying value of contract cost assets amounted to $483 thousand at March 31, 2019, compared to $458 thousand at December 31, 2018 and were included in other assets in the Unaudited Consolidated Balance Sheets.