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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
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 ASC 606. As shown below, a substantial portion of our revenues are specifically excluded from the scope of ASC 606.
For the three months ended June 30, 20232022
(Dollars in thousands)
Revenue (1)
ASC 606 Revenue (2)
Revenue (1)
ASC 606 Revenue (2)
Net interest income$33,500 $— $37,515 $— 
Noninterest income:
Wealth management revenues9,048 9,048 10,066 10,066 
Mortgage banking revenues
1,753 — 2,082 — 
Card interchange fees
1,268 1,268 1,303 1,303 
Service charges on deposit accounts
667 667 763 763 
Loan related derivative income
247 — 669 — 
Income from bank-owned life insurance
879 — 615 — 
Other income
463 344 354 278 
Total noninterest income14,325 11,327 15,852 12,410 
Total revenues$47,825 $11,327 $53,367 $12,410 
(1)As reported in the Unaudited Consolidated Statements of Income.
(2)Revenue from contracts with customers in scope of ASC 606.
For the six months ended June 30, 20232022
(Dollars in thousands)Revenue (1)
ASC 606 Revenue (2)
Revenue (1)
ASC 606 Revenue (2)
Net interest income$70,693 $— $72,606 $— 
Noninterest income:
Wealth management revenues17,711 17,711 20,597 20,597 
Mortgage banking revenues
2,998 — 5,583 — 
Card interchange fees
2,400 2,400 2,467 2,467 
Service charges on deposit accounts
1,444 1,444 1,431 1,431 
Loan related derivative income
196 — 970 — 
Income from bank-owned life insurance
2,044 — 1,216 — 
Other income
815 620 747 564 
Total noninterest income27,608 22,175 33,011 25,059 
Total revenues$98,301 $22,175 $105,617 $25,059 
(1)As reported in the Unaudited 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)Three MonthsSix Months
Periods ended June 30, 2023202220232022
Revenue recognized at a point in time:
Card interchange fees$1,268 $1,303 $2,400 $2,467 
Service charges on deposit accounts425 605 983 1,154 
Other income281 214 497 443 
Revenue recognized over time:
Wealth management revenues
9,048 10,066 17,711 20,597 
Service charges on deposit accounts
242 158 461 277 
Other income
63 64 123 121 
Total revenues from contracts in scope of Topic 606$11,327 $12,410 $22,175 $25,059 

Receivables for revenue from contracts with customers primarily consist of amounts due for wealth management services performed for which the Corporation’s performance obligations have been fully satisfied. Receivables amounted to $5.6 million and $5.1 million, respectively, at June 30, 2023 and December 31, 2022 and were included in other assets in the Unaudited 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 June 30, 2023 and December 31, 2022 and were included in other liabilities in the Unaudited 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 $1.9 million and $2.1 million, respectively, at June 30, 2023 and December 31, 2022 and were included in other assets in the Unaudited Consolidated Balance Sheets. The amortization of contract cost assets is recorded within salaries and employee benefits expense in the Unaudited Consolidated Statements of Income.