Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2022

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 Mar 31,
($ in Thousands)	2022		2021
Wealth management fees	$	22,404	$	22,414
Service charges and deposit account fees	3,784		3,941
Card-based fees(a)	417		346
Other revenue	1,235		664
Noninterest income (in-scope of Topic 606)	$	27,840	$	27,365
Noninterest income (out-of-scope of Topic 606)(b)	9,950		14,464
Total noninterest income	$	37,790	$	41,828
	Community, Consumer, and Business
	Three Months Ended Mar 31,
($ in Thousands)	2022		2021
Service charges and deposit account fees	$	13,069	$	10,900
Card-based fees(a)	9,524		9,414
Other revenue	1,862		3,674
Noninterest income (in-scope of Topic 606)	$	24,455	$	23,988
Noninterest income (out-of-scope of Topic 606)	8,751		23,342
Total noninterest income	$	33,207	$	47,331

	Risk Management and Shared Services
	Three Months Ended Mar 31,
($ in Thousands)	2022		2021
Service charges and deposit account fees	$	3	$	15
Card-based fees(a)	7		4
Other revenue	38		391
Noninterest income (in-scope of Topic 606)	$	49	$	409
Noninterest income (out-of-scope of Topic 606)	3,421		5,775
Total noninterest income	$	3,470	$	6,184
	Consolidated Total
	Three Months Ended Mar 31,
($ in Thousands)	2022		2021
Wealth management fees	$	22,404	$	22,414
Service charges and deposit account fees	16,856		14,855
Card-based fees(a)	9,949		9,764
Other revenue	3,135		4,729
Noninterest income (in-scope of Topic 606)	$	52,344	$	51,762
Noninterest income (out-of-scope of Topic 606)(b)	22,123		43,581
Total noninterest income	$	74,467	$	95,343

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

(b) For the three months ended March 31, 2021, the Corporation recognized a $2 million pre-tax gain on the sale of Whitnell.

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

Revenue Stream	Noninterest income in-scope of Topic 606
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 is 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 and advisory fees(b)	Brokerage and advisory 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. Payment 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 and advisory fees are included in wealth management fees.