XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.24.3

NONINTEREST INCOME | 9 Months Ended
--- | ---
Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
NONINTEREST INCOME | 3. NONINTEREST INCOME Credit/debit card and ATM income The following table presents the components of credit/debit card and ATM income:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(Dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Bailment fees | $ | 19,616 |  |  | $ | 9,982 |  |  | $ | 53,399 |  |  | $ | 28,051 |
Interchange fees | 4,046 |  |  | 3,885 |  |  | 11,770 |  |  | 11,764 |
Other card and ATM fees | 959 |  |  | 1,002 |  |  | 2,996 |  |  | 2,845 |
Total credit/debit card and ATM income | $ | 24,621 |  |  | $ | 14,869 |  |  | $ | 68,165 |  |  | $ | 42,660 |
Credit/debit card and ATM income is composed of bailment fees, interchange fees, and other card and ATM fees. Bailment fees are earned from bailment arrangements with customers. Bailment arrangements are legal relationships in which property is delivered to another party without a transfer of ownership. The party who transferred the property (the bailor) retains ownership interest of the property. In the event that the bailee files for bankruptcy protection, the property is not included in the bailee's assets. The bailee pays an agreed-upon fee for the use of the bailor's property in exchange for the bailor allowing use of the assets at the bailee's site. Bailment fees are earned from cash that is made available for customers' use at an offsite location, such as cash located in an ATM at a customer's place of business. These fees are typically indexed to a market interest rate. This revenue stream generates fee income through monthly billing for bailment services. Credit/debit card and ATM income also includes interchange fees. Interchange fees are paid by a merchant's bank to a bank that issued a debit or credit card used in a transaction to compensate the issuing bank for the value and benefit the merchant receives from accepting electronic payments. These revenue streams generate fee income at the time a transaction occurs and are recorded as revenue at the time of the transaction. Investment management and fiduciary income The following table presents the components of investment management and fiduciary income:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(Dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Trust fees | $ | 25,295 |  |  | $ | 22,062 |  |  | $ | 73,299 |  |  | $ | 64,514 |
Wealth management and advisory fees | 11,353 |  |  | 10,658 |  |  | 33,883 |  |  | 31,061 |
Total investment management and fiduciary income | $ | 36,648 |  |  | $ | 32,720 |  |  | $ | 107,182 |  |  | $ | 95,575 |
Investment management and fiduciary income is composed of trust fees and wealth management and advisory fees. Trust fees are based on revenue earned from custody, escrow, trustee and trustee related services on structured finance transactions; indenture trustee, administrative agent and collateral agent services to individuals, institutions and corporations; commercial domicile and independent director services; and investment and trustee services to families and individuals. Most fees are flat fees, except for a portion of personal and corporate trustee fees where the Company earns a percentage on the assets under management or assets held within a trust. This revenue stream primarily generates fee income through monthly, quarterly and annual billings for services provided. Wealth management and advisory fees consists of fees from Bryn Mawr Trust (excluding BMT-DE), BMCM, Powdermill®, and WSFS Wealth® Investments. Wealth management and advisory fees are based on revenue earned from services including asset management, financial planning, family office, and brokerage. The fees are based on the market value of assets, are assessed as a flat fee, or are brokerage commissions. This revenue stream primarily generates fee income through monthly, quarterly and annual billings for the services. Deposit service charges The following table presents the components of deposit service charges:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(Dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Service fees | $ | 4,649 |  |  | $ | 4,382 |  |  | $ | 13,533 |  |  | $ | 12,833 |
Return and overdraft fees | 1,867 |  |  | 1,851 |  |  | 5,315 |  |  | 5,218 |
Other deposit service fees | 321 |  |  | 301 |  |  | 972 |  |  | 799 |
Total deposit service charges | $ | 6,837 |  |  | $ | 6,534 |  |  | $ | 19,820 |  |  | $ | 18,850 |
Deposit service charges includes revenue earned from core deposit products, certificates of deposit, and brokered deposits. The Company generates fee revenues from deposit service charges primarily through service charges and overdraft fees. Service charges consist primarily of monthly account maintenance fees, treasury management fees, foreign ATM fees and other maintenance fees. All of these revenue streams generate fee income through service charges for monthly account maintenance and similar items, transfer fees, late fees, overlimit fees, and stop payment fees. Revenue is recorded at the time of the transaction. Other income The following table presents the components of other income:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(Dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Managed service fees | $ | 5,529 |  |  | $ | 5,301 |  |  | $ | 16,976 |  |  | $ | 15,316 |
Currency preparation | 1,915 |  |  | 1,331 |  |  | 5,514 |  |  | 3,955 |
ATM loss protection | 834 |  |  | 643 |  |  | 2,577 |  |  | 1,938 |
Capital markets revenue | 3,371 |  |  | 3,581 |  |  | 9,750 |  |  | 8,170 |
Miscellaneous products and services | 5,227 |  |  | 3,122 |  |  | 11,237 |  |  | 4,381 |
Total other income | $ | 16,876 |  |  | $ | 13,978 |  |  | $ | 46,054 |  |  | $ | 33,760 |
Other income consists of managed service fees, which are primarily courier fees related to treasury management and are partially offset in noninterest expense, currency preparation, ATM loss protection, capital markets revenue, and other miscellaneous products and services offered by the Bank. These fees are primarily generated through monthly billings or at the time of the transaction. Capital markets revenue consists of fees related to interest rate swaps, risk participation agreements, foreign exchange contracts, letters of credit, and trade finance products and services offered by the Bank. Arrangements with multiple performance obligations The Company's contracts with customers may include multiple performance obligations. For such arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company generally determines standalone selling prices based on the prices charged to customers. Practical expedients and exemptions The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for services performed. See Note 14 for further information about the disaggregation of noninterest income by segment.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration