Revenues

3 Months Ended

Mar. 31, 2018

Below is a listing of performance obligations for our main revenue streams.



Revenue Stream		Noninterest income in-scope of Topic 606
Insurance commissions and fees		The Corporation's insurance revenue has two distinct performance obligations. The first performance obligation is the selling of the policy as an agent for the carrier. This performance obligation is satisfied upon binding of the policy. The second performance obligation is the ongoing servicing of the policy which is satisfied over the life of the policy. For employee benefits, the payment is typically received monthly. For property and casualty, payments can vary, but are typically received at, or in advance, of the policy period.
Service charges and deposit account fees		Service charges on deposit accounts consist of monthly service fees (i.e. business analysis fees and consumer service charges) and other deposit account related fees. The Corporation's performance obligation for monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Other deposit account related fees are largely transactional based, and therefore, the Corporation's performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts.
Card-based and loan fees⁽¹⁾		Card-based and loan fees are primarily comprised of debit and credit card income, ATM fees, and merchant services income. Debit and credit card income is primarily comprised of interchange fees earned whenever the Corporation's debit and credit cards are processed through card payment networks. ATM and merchant fees are largely transactional based, and therefore, the Corporation's performance obligation is satisfied, and related revenue recognized, at a point in time. Payment is typically received immediately or in the following month.
Trust and asset management fees		Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Corporation's performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received a few days after month end through a direct charge to customers’ accounts. The Corporation's performance obligation for these transactional-based services is generally satisfied, and related revenue recognized, at a point in time (i.e., as incurred). Payment is received shortly after services are rendered.
Brokerage commissions and fees		Brokerage commissions and fees primarily consists of investment advisory, brokerage, retirement services, and annuities. The Corporation's performance obligation for investment advisory services and retirement services is generally satisfied, and the related revenue recognized, over the period in which the services are provided. The performance obligation for annuities is satisfied upon sale of the annuity, and therefore, the related revenue is primarily recognized at the time of sale. Payment for these services are typically received immediately or in advance of the service.

⁽¹⁾Loan fees are out-of-scope of Topic 606.

Arrangements with Multiple Performance Obligations

Our contracts with customers may include multiple performance obligations. For such arrangements, we allocate revenue to each performance obligation based on its relative standalone selling price. We generally determine standalone selling prices based on the expected cost plus margin.

Practical Expedients

We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.

Using the practical expedient, for contracts with a term of one year or less, the Corporation recognizes incremental costs of obtaining those contracts as an expense when incurred.

Revenues

On January 1, 2018, the Corporation adopted Topic 606 using the modified retrospective method. As stated in Note 3, the implementation of the new standard had an immaterial impact to the Corporation. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606.

Revenue is recognized when obligations under the terms of a contract with our customer are satisfied. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. We do not have any material significant payment terms as payment is received at or shortly after the satisfaction of the performance obligation.

The following table disaggregates our revenue by major source for the three months ended March 31, 2018 and March 31, 2017.



Three Months Ended March 31, 2018
($ in Thousands)	Corporate and Commercial Specialty		Community, Consumer, and Business		Risk Management and Shared Services		Consolidated Total
Insurance commissions and fees	$	—	$	22,624	$	24	$	22,648
Service charges and deposit account fees	4,225		12,183		12		16,420
Card-based and loan fees⁽¹⁾	315		9,529		25		9,869
Trust and asset management fees	—		13,369		—		13,369
Brokerage commissions and fees	—		7,032		241		7,273
Other revenue	655		2,461		30		3,146
Noninterest Income (in-scope of Topic 606)	$	5,195	$	67,198	$	332	$	72,725
Noninterest Income (out-of-scope of Topic 606)	7,488		6,838		3,329		17,655
Total Noninterest Income	$	12,683	$	74,036	$	3,661	$	90,380
⁽¹⁾ Loan fees are out-of-scope of Topic 606.

Three Months Ended March 31, 2017
($ in Thousands)	Corporate and Commercial Specialty		Community, Consumer, and Business		Risk Management and Shared Services		Consolidated Total
Insurance commissions and fees	$	—	$	21,620	$	—	$	21,620
Service charges and deposit account fees	4,441		11,889		26		16,356
Card-based and loan fees⁽¹⁾	272		8,144		5		8,421
Trust and asset management fees	—		11,935		—		11,935
Brokerage commissions and fees	—		4,333		—		4,333
Other revenue	44		2,119		53		2,216
Noninterest Income (in-scope of Topic 606)	$	4,757	$	60,040	$	84	$	64,881
Noninterest Income (out-of-scope of Topic 606)	7,236		4,830		2,884		14,950
Total Noninterest Income	$	11,993	$	64,870	$	2,968	$	79,831
⁽¹⁾ Loan fees are out-of-scope of Topic 606.