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Revenue Recognition | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Revenue Recognition The following tables present non-interest income, segregated by revenue streams in-scope and out-of-scope of FASB ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”, for the three and six months ended June 30, 2024 and 2023. Wealth management fees are included in the wealth management services segment while insurance revenues are included in the insurance segment. All other revenue streams are primarily included in the banking segment. As a result of the sale of substantially all of the assets of GAI on June 1, 2024, insurance revenues reflect two months of GAI activity for the quarter ended June 30, 2024, and five months of GAI activity for the six months ended June 30, 2024. See Note 3 for additional information on the sale.
|  | Three Months Ended
|  | June 30,
Non-interest Income |  | 2024 |  | 2023
In-Scope of Topic 606: |  |  |  |
Wealth Management Fees |  | $ | 3,783 |  |  | $ | 2,912 |
Service Charges on Deposit Accounts |  | 3,093 |  |  | 2,883 |
Insurance Revenues |  | 1,506 |  |  | 2,130 |
Interchange Fee Income |  | 4,404 |  |  | 4,412 |
Other Operating Income: |  |  |  |
ATM Fees |  | 305 |  |  | 321 |
Wire Transfer Fees |  | 180 |  |  | 182 |
Other (1) |  | 282 |  |  | 320 |
Non-interest Income (in-scope of Topic 606) |  | 13,553 |  |  | 13,160 |
Non-interest Income (out-of-scope of Topic 606) |  | 5,370 |  |  | 1,736 |
Total Non-interest Income |  | $ | 18,923 |  |  | $ | 14,896 |
(1) “Other” income includes safe deposit box rentals and other non-interest related fees totaling $282 thousand and $320 thousand for the three months ended June 30, 2024 and 2023, respectively, all of which are within the scope of ASC 606.
|  | Six Months Ended
|  | June 30,
Non-interest Income |  | 2024 |  | 2023
In-Scope of Topic 606: |  |  |  |
Wealth Management Fees |  | $ | 7,149 |  |  | $ | 5,556 |
Service Charges on Deposit Accounts |  | 5,995 |  |  | 5,671 |
Insurance Revenues |  | 4,384 |  |  | 5,265 |
Interchange Fee Income |  | 8,491 |  |  | 8,611 |
Other Operating Income: |  |  |  |
ATM Fees |  | 593 |  |  | 614 |
Wire Transfer Fees |  | 348 |  |  | 346 |
Other (1) |  | 575 |  |  | 616 |
Non-interest Income (in-scope of Topic 606) |  | 27,535 |  |  | 26,679 |
Non-interest Income (out-of-scope of Topic 606) |  | 7,210 |  |  | 3,184 |
Total Non-interest Income |  | $ | 34,745 |  |  | $ | 29,863 |
(1) “Other” income includes safe deposit box rentals and other non-interest related fees totaling $575 thousand and $616 thousand for the six months ended June 30, 2024 and 2023, respectively, all of which are within the scope of ASC 606. A description of the Company’s revenue streams accounted for under Topic 606 follows: Service Charges on Deposit Accounts: The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as stop payment charges and statement rendering, are recognized at the time the transaction is executed (the point in time the Company fills the customer’s request). Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Interchange Fee Income: The Company earns interchange fees from debit/credit cardholder transactions conducted through various payment networks. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. Wealth Management Fees: The Company earns wealth management and investment services income from its contracts with trust and brokerage customers to manage assets for investment and/or to transact their accounts. These fees are primarily earned over time as the Company provides the contracted monthly or quarterly services and are generally assessed based on the market value of assets under management at month-end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed (trade date). Insurance Revenues: The Company earned insurance revenue from commissions derived from the sale of personal and corporate property and casualty insurance products. These commissions were primarily earned over time as the Company provided the contracted insurance product to customers. Other Operating Income: The other operating income revenue streams within the scope of Topic 606 consist of ATM fees, wire transfer fees, safe deposit box rentals, check printing commissions and other non-interest related fees.

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- 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
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