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Revenue Recognition | 9 Months Ended
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Mar. 31, 2019
Revenue From Contract With Customer [Abstract] |
Revenue Recognition | 19. REVENUE RECOGNITION Effective July 1, 2018, the Company adopted ASU 2014-09 Revenue from Contracts with Customers and all subsequent amendments to the ASU (collectively, "ASC 606”), which (i) creates a single framework for recognizing revenue from contracts with customers that fall within its scope and (ii) revises when it is appropriate to recognize a gain (loss) from the transfer of nonfinancial assets, such as OREO. The majority of the Company’s revenues come from interest income and other sources, including loans, leases, securities, and derivatives that are outside the scope of ASC 606. The Company’s services that fall within the scope of ASC 606 are presented within noninterest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include deposit service charges on deposits, interchange income, and the sale of OREO. The Company, using a modified retrospective transition approach, determined that there was no cumulative effect adjustment to retained earnings as a result of adopting the new standard, nor did the standard have a material impact on our consolidated financial statements including the timing or amounts of revenue recognized. All of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized within noninterest income. The following table presents the Company’s sources of noninterest income for the three and nine months ended March 31, 2019 and 2018. Sources of revenue outside the scope of ASC 606 are noted as such.
| Three Months Ended |  |  | Nine Months Ended |
| March 31, |  |  | March 31, |
| 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
| (In Thousands) |  |  | (In Thousands) |
Non-interest income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposit-related fees and charges | $ | 376 |  |  | $ | 345 |  |  | $ | 1,126 |  |  | $ | 1,079 |
Loan-related fees and charges (1) |  | 1,298 |  |  |  | 1,192 |  |  |  | 2,979 |  |  |  | 3,128 |
Loss on sale and call of securities (1) |  | (182 | ) |  |  | (1 | ) |  |  | (182 | ) |  |  | (1 | )
Gain on sale of loans (1) |  | 151 |  |  |  | 346 |  |  |  | 384 |  |  |  | 877 |
(Loss) gain on sale and write down of other real estate owned |  | (6 | ) |  |  | 7 |  |  |  | (20 | ) |  |  | (79 | )
Income from bank owned life insurance (1) |  | 1,560 |  |  |  | 1,227 |  |  |  | 4,753 |  |  |  | 3,758 |
Electronic banking fees and charges (interchange income) |  | 253 |  |  |  | 243 |  |  |  | 780 |  |  |  | 823 |
Miscellaneous (1) |  | 226 |  |  |  | 189 |  |  |  | 347 |  |  |  | 320 |
Total non-interest income | $ | 3,676 |  |  | $ | 3,548 |  |  | $ | 10,167 |  |  | $ | 9,905 |
(1) | Not within the scope of ASC 606.
A description of the Company’s revenue streams accounted for under ASC 606 is as follows: Service Charges on Deposit Accounts The Company earns fees from deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed at the point in the time the Company fulfills 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. Service charges on deposits are withdrawn from the customer’s account balance. Gains/Losses on Sales of OREO The Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. Gain/Losses on the sales of OREO falls within the scope of ASC 606, if the Company finances the transaction. Under ASC 606, if the Company finances the sale of OREO to the buyer, the Company is required to assess whether the buyer is committed to perform their obligations under the contract and whether the collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain (loss) on sale if a significant financing component is present. Generally, the Company does not finance the sale of OREO properties. Interchange Income The Company earns interchange fees from debit and credit card holder transactions conducted through various payment networks. Interchange fees from cardholder transactions are recognized daily, concurrently with the transaction processing services provided by an outsourced technology solution.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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