Revenue from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables summarize total revenues as presented in the Unaudited Consolidated Statements of Income and the related amounts that 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 June 30,	2020				2019
(Dollars in thousands)	Revenue (1)		ASC 606 Revenue (2)		Revenue (1)			ASC 606 Revenue (2)
Net interest income		$30,945		$—		$33,858			$—
Noninterest income:
Asset-based wealth management revenues	8,156		8,156		9,141			9,141
Transaction-based wealth management revenues	449		449		408			408
Total wealth management revenues	8,605		8,605		9,549			9,549
Mortgage banking revenues	14,851		—		3,640			—
Card interchange fees	1,031		1,031		1,018			1,018
Service charges on deposit accounts	517		517		929			929
Loan related derivative income	99		—		746			—
Income from bank-owned life insurance	791		—		566			—
Net realized losses on securities	—		—		(80		)	—
Other income	426		288		385			371
Total noninterest income	26,320		10,441		16,753			11,867
Total revenues		$57,265		$10,441		$50,611			$11,867

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

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

For the six months ended June 30,	2020				2019
(Dollars in thousands)	Revenue (1)		ASC 606 Revenue (2)		Revenue (1)			ASC 606 Revenue (2)
Net interest income		$63,547		$—		$68,442			$—
Noninterest income:
Asset-based wealth management revenues	16,511		16,511		18,062			18,062
Transaction-based wealth management revenues	783		783		739			739
Total wealth management revenues	17,294		17,294		18,801			18,801
Mortgage banking revenues	20,947		—		6,286			—
Card interchange fees	1,978		1,978		2,015			2,015
Service charges on deposit accounts	1,377		1,377		1,804			1,804
Loan related derivative income	2,554		—		1,470			—
Income from bank-owned life insurance	1,355		—		1,215			—
Net realized losses on securities	—		—		(80		)	—
Other income	742		535		609			595
Total noninterest income	46,247		21,184		32,120			23,215
Total revenues		$109,794		$21,184		$100,562			$23,215

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

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

The Corporation recognizes revenue that is transactional in nature and such revenue is earned at a point in time. Revenue that is recognized at a point in time includes card interchange fees (fee income related to debit card transactions), ATM fees, wire transfer fees, overdraft charge fees, and stop-payment and returned check fees. Such revenue is derived from transactional information and is recognized as revenue immediately as the transactions occur or upon providing the service to complete the customer’s transaction.

The Corporation recognizes revenue over a period of time, generally monthly, as services are performed and performance obligations are satisfied. Such revenue includes wealth management revenues and service charges on deposit accounts. Wealth management revenues are categorized as either asset-based revenues or transaction-based revenues. Asset-based revenues include trust and investment management fees that are earned based upon a percentage of asset values under administration. Transaction-based revenues include financial planning fees, tax preparation fees, commissions and other service fees. Fee revenue from service charges on deposit accounts represent service charges assessed to customers who hold deposit accounts at the Bank.

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

(Dollars in thousands)	Three Months				Six Months
Periods ended June 30,	2020		2019		2020		2019
Revenue recognized at a point in time:
Card interchange fees		$1,031		$1,018		$1,978		$2,015
Service charges on deposit accounts	374		719		1,041		1,381
Other income	254		324		454		503
Revenue recognized over time:
Wealth management revenues	8,605		9,549		17,294		18,801
Service charges on deposit accounts	143		210		336		423
Other income	34		47		81		92
Total revenues from contracts in scope of Topic 606		$10,441		$11,867		$21,184		$23,215