Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

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



Years ended December 31,	2019					2018				2017
(Dollars in thousands)	Revenue (1)			ASC 606 Revenue (2)		Revenue (1)		ASC 606 Revenue (2)		Revenue (1)		ASC 606 Revenue (2)
Net interest income		$133,414			$—		$132,290		$—		$119,531		$—
Noninterest income:
Asset-based wealth management revenues	35,806			35,806		37,343		37,343		38,125		38,125
Transaction-based wealth management revenues	1,042			1,042		998		998		1,221		1,221
Total wealth management revenues	36,848			36,848		38,341		38,341		39,346		39,346
Mortgage banking revenues	14,795			—		10,381		—		11,392		—
Card interchange fees	4,214			4,214		3,768		3,768		3,502		3,502
Service charges on deposit accounts	3,684			3,684		3,628		3,628		3,672		3,672
Loan related derivative income	3,993			—		2,461		—		3,214		—
Income from bank-owned life insurance	2,354			—		2,196		—		2,161		—
Net realized losses on securities	(53		)	—		—		—		—		—
Other income	1,245			1,184		1,339		1,329		1,522		1,469
Total noninterest income	67,080			45,930		62,114		47,066		64,809		47,989
Total revenues		$200,494			$45,930		$194,404		$47,066		$184,340		$47,989


(1)	As reported in the Consolidated Statements of Income.


(2)	Revenue from contracts with customers in scope of ASC 606.

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



(Dollars in thousands)
Years ended December 31,	2019		2018		2017
Revenue recognized at a point in time:
Card interchange fees		$4,214		$3,768		$3,502
Service charges on deposit accounts	2,850		2,802		2,899
Other income	989		958		1,122
Revenue recognized over time:
Wealth management revenues	36,848		38,341		39,346
Service charges on deposit accounts	834		826		773
Other income	195		371		347
Total revenues from contracts in scope of ASC 606		$45,930		$47,066		$47,989

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 $4.5 million and $4.8 million, respectively, at December 31, 2019 and 2018 and were included in other assets in the Consolidated Balance Sheets.

Deferred revenues, which are considered contract liabilities under ASC 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 December 31, 2019 and 2018 and were included in other liabilities in the Consolidated Balance Sheets.

For commissions and incentives that are in-scope of ASC 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 $905 thousand at December 31, 2019, compared to $458 thousand at December 31, 2018 and were included in other assets in the Consolidated Balance Sheets.