Revenue from Contracts with Customers

6 Months Ended

Jun. 30, 2020

Revenue Recognition [Abstract]

Revenue from Contracts with Customers

Revenue from Contracts with Customers

Revenue from contracts with customers is recognized when obligations under the terms of a contract with the Corporation's 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 Corporation's disaggregated revenue by major source is presented below:

	Corporate and Commercial Specialty
	Three Months Ended June 30,				Six Months Ended June 30,
($ in Thousands)	2020		2019		2020		2019
Insurance commissions and fees	$	47	$	49	$	123	$	174
Wealth management fees(a)	15,814		15,369		31,621		30,469
Service charges and deposit account fees	4,307		3,309		7,859		6,806
Card-based fees(b)	228		455		743		889
Other revenue	294		865		1,081		1,049
Noninterest Income (in-scope of Topic 606)	$	20,690	$	20,047	$	41,426	$	39,387
Noninterest Income (out-of-scope of Topic 606)	10,002		11,220		23,698		19,026
Total Noninterest Income	$	30,691	$	31,267	$	65,124	$	58,414
	Community, Consumer, and Business
	Three Months Ended June 30,				Six Months Ended June 30,
($ in Thousands)	2020		2019		2020		2019
Insurance commissions and fees	$	22,381	$	22,933	$	44,910	$	48,268
Wealth management fees(a)	5,102		5,321		10,111		10,402
Service charges and deposit account fees	7,173		12,104		18,838		23,703
Card-based fees(b)	8,647		9,674		17,693		18,486
Other revenue	2,861		2,349		5,147		4,621
Noninterest Income (in-scope of Topic 606)	$	46,163	$	52,381	$	96,698	$	105,479
Noninterest Income (out-of-scope of Topic 606)	12,394		9,742		19,509		14,919
Total Noninterest Income	$	58,557	$	62,123	$	116,207	$	120,398

	Risk Management and Shared Services
	Three Months Ended June 30,				Six Months Ended June 30,
($ in Thousands)	2020		2019		2020		2019
Insurance commissions and fees	$	3	$	3	$	6	$	7
Service charges and deposit account fees	4		14		10		32
Card-based fees(b)	47		48		94		97
Other revenue	26		210		49		438
Noninterest Income (in-scope of Topic 606)	$	80	$	275	$	158	$	574
Noninterest Income (out-of-scope of Topic 606)(c)	165,161		2,172		171,307		7,653
Total Noninterest Income	$	165,242	$	2,447	$	171,465	$	8,228
	Consolidated Total
	Three Months Ended June 30,				Six Months Ended June 30,
($ in Thousands)	2020		2019		2020		2019
Insurance commissions and fees	$	22,430	$	22,985	$	45,038	$	48,449
Wealth management fees(a)	20,916		20,691		41,732		40,870
Service charges and deposit account fees	11,484		15,426		26,706		30,542
Card-based fees(b)	8,922		10,177		18,529		19,472
Other revenue	3,181		3,424		6,277		6,108
Noninterest Income (in-scope of Topic 606)	$	66,933	$	72,703	$	138,282	$	145,441
Noninterest Income (out-of-scope of Topic 606)(c)	187,557		23,134		214,515		41,599
Total Noninterest Income	$	254,490	$	95,837	$	352,796	$	187,040

(a) Includes trust, asset management, brokerage, and annuity fees.

(b) Certain card-based fees are out-of-scope of Topic 606.

(c) Both the three and six months ended June 30, 2020 include a gain of $163 million from the sale of ABRC.

Below is a listing of performance obligations for the Corporation's main revenue streams:

Revenue Stream	Noninterest income in-scope of Topic 606
Insurance commissions and fees	The Corporation's insurance revenue had two distinct performance obligations. The first performance obligation was the selling of the policy as an agent for the carrier. This performance obligation was satisfied upon binding of the policy. The second performance obligation was the ongoing servicing of the policy which was satisfied over the life of the policy. For employee benefits, the payment was typically received monthly. For property and casualty, payments can vary, but were typically received at, or in advance, of the policy period.
Service charges and deposit account fees	Service charges and deposit account fees consist of monthly service fees (i.e. business analyzed 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 and deposit account fees are primarily received immediately or in the following month through a direct charge to customers’ accounts.
Card-based fees(a)	Card-based 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(b)	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 the 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(b)	Brokerage commissions and fees primarily consist 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. Payments for these services are typically received immediately or in advance of the service.

(a) Certain card-based fees are out-of-scope of Topic 606.

(b) Trust and asset management fees and brokerage commissions and fees are included in wealth management fees.

Arrangements with Multiple Performance Obligations

The Corporation's 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.