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Revenue from Contracts with Clients
 9 Months Ended
Sep. 30, 2025
Revenue from Contracts with Clients  
Revenue from Contracts with Clients

Note 10 Revenue from Contracts with Clients

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Revenue is recognized when obligations under the terms of a contract with clients are satisfied. Below is the detail of the Company’s revenue from contracts with clients, including service charges and other deposit account related fees, bank card fees and other non-interest income. Other non-interest income includes trust and wealth management fees and Cambr fee income.

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Service charges and other account-related fees

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Service charge fees are primarily comprised of monthly service fees, check orders and other deposit account related fees. Other fees include revenue from processing wire transfers, bill pay service, cashier’s checks and other services. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account-related fees are largely transactional based, and therefore, the Company’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 clients’ accounts.

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Bank card fees

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Bank card fees are primarily comprised of debit card income, ATM fees, merchant services income and other fees. Debit card income is primarily comprised of interchange fees earned whenever the Company’s debit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Bank cardholder uses a non-Bank ATM or a non-Bank cardholder uses a Bank ATM. Merchant services income mainly represents fees charged to merchants to process their debit card transactions. The Company’s performance obligation for bank card fees is largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month.

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Other non-interest income

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Trust and wealth management fees

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The trust and wealth management business offers separately managed investment account solutions and trustee services to clients.

Services may include custody of assets, trustee services, wealth management, and directed trusts. The Company charges an asset-based fee earned for personal and corporate accounts. Additional fees may include minimum annual fees, fees for additional tax reporting and preparation for irrevocable trust returns or annual flat fees for certain trusts. The performance obligations related to this revenue include items such as performing investment advisory services, custody and record-keeping services, and fund administrative and accounting services. The performance obligations are satisfied upon completion of service and fees are generally a fixed flat rate or based on a percentage of the account’s market value per the contract with the client. These fees are recorded within other non-interest income in the consolidated statements of operations.

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Cambr fee income

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Cambr operates a deposit acquisition and processing platform that generates core deposits from accounts offered through third-party embedded finance companies. Cambr’s platform facilitates the movement of embedded finance companies’ client deposits into FDIC-insured accounts at banks within Cambr’s network. Cambr generates fee income by charging a percentage-based fee of the deposit balance placed into the Cambr network. The performance obligation is satisfied upon completion of service, and Cambr fee income is recorded within other non-interest income in the consolidated statements of operations.

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Other non-interest expense

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Included within other non-interest expense are gains and losses from OREO sales, which are recognized when the Company meets its performance obligation to transfer title to the buyer. The gain or loss is measured as the excess of the proceeds received compared to the OREO carrying value. Sales proceeds are received in cash at the time of transfer.

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The following table presents non-interest income, segregated by revenue streams in-scope and out-of-scope of FASB ASC Topic 606 (“Topic 606”), and non-interest expense in-scope of Topic 606 for the three and nine months ended September 30, 2025 and 2024:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended September 30,

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For the nine months ended September 30,

​

​

2025

​

2024

​

2025

​

2024

Non-interest income

​

​

​

​

​

​

​

​

​

​

​

​

In-scope of Topic 606:

​

​

​

​

​

​

​

​

​

​

​

​

Service charges and other account-related fees

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$

5,323

​

$

5,790

​

$

15,504

​

$

16,251

Bank card fees

​

​

4,505

​

​

4,832

​

​

13,431

​

​

14,292

Other non-interest income

​

​

1,448

​

​

1,442

​

​

4,280

​

​

4,216

Non-interest income (in-scope of Topic 606)

​

​

11,276

​

​

12,064

​

​

33,215

​

​

34,759

Non-interest income (out-of-scope of Topic 606)

​

​

9,415

​

​

6,325

​

​

19,918

​

​

15,353

Total non-interest income

​

$

20,691

​

$

18,389

​

$

53,133

​

$

50,112

Non-interest expense

​

​

​

​

​

​

​

​

​

​

​

​

In-scope of Topic 606:

​

​

​

​

​

​

​

​

​

​

​

​

Other non-interest expense(1)

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$

—

​

$

48

​

$

(38)

​

$

(144)

Total revenue in-scope of Topic 606

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$

11,276

​

$

12,112

​

$

33,177

​

$

34,615

​

​

​

(1)

    

Other non-interest expense includes net gains (losses) from sales of OREO.

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Contract acquisition costs

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The Company utilizes the practical expedient which allows entities to expense immediately contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. The Company has not capitalized any contract acquisition costs.