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REVENUE FROM CONTRACTS WITH CUSTOMERS | 6 Months Ended
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Jun. 30, 2023
Revenue from Contract with Customer [Abstract] |
REVENUE FROM CONTRACTS WITH CUSTOMERS | REVENUE FROM CONTRACTS WITH CUSTOMERS All of the Corporation's revenue from contracts with customers in the scope of ASC 606 is recognized within non-interest income. The following tables present the Corporation's non-interest income by revenue stream and reportable segment for the three and six months ended June 30, 2023 and 2022 (in thousands). Items outside the scope of ASC 606 are noted as such.
|  | Three Months Ended June 30, 2023
Revenue by Operating Segment: Non-interest income |  | Core Banking |  | WMG |  | Holding Company, CFS, and CRM(b) |  | Total
Service charges on deposit accounts |  |  |  |  |  |  |  |
Overdraft fees |  | $ | 777 |  |  | $ | — |  |  | $ | — |  |  | $ | 777 |
Other |  | 182 |  |  | — |  |  | — |  |  | 182 |
Interchange revenue from debit card transactions |  | 1,194 |  |  | — |  |  | — |  |  | 1,194 |
WMG fee income |  | — |  |  | 2,603 |  |  | — |  |  | 2,603 |
CFS fee and commission income |  | — |  |  | — |  |  | 265 |  |  | 265 |
Net gains (losses) on sales of OREO |  | 14 |  |  | — |  |  | — |  |  | 14 |
Net gains on sales of loans(a) |  | 18 |  |  | — |  |  | — |  |  | 18 |
Loan servicing fees(a) |  | 36 |  |  | — |  |  | — |  |  | 36 |
Changes in fair value of equity investments(a) |  | 71 |  |  | — |  |  | (174) |  |  | (103) |
Income from bank-owned life insurance(a) |  | 11 |  |  | — |  |  | — |  |  | 11 |
Other(a) |  | 398 |  |  | — |  |  | 52 |  |  | 450 |
Total non-interest income (loss) |  | $ | 2,701 |  |  | $ | 2,603 |  |  | $ | 143 |  |  | $ | 5,447 |
(a) Not within scope of ASC 606. (b) The Holding Company, CFS, and CRM column above includes amounts to eliminate transactions between segments.
|  | Three Months Ended June 30, 2022
Revenue by Operating Segment: Non-interest income |  | Core Banking |  | WMG |  | Holding Company, CFS, and CRM(b) |  | Total
Service charges on deposit accounts |  |  |  |  |  |  |  |
Overdraft fees |  | $ | 727 |  |  | $ | — |  |  | $ | — |  |  | $ | 727 |
Other |  | 209 |  |  | — |  |  | — |  |  | 209 |
Interchange revenue from debit card transactions |  | 1,206 |  |  | — |  |  | — |  |  | 1,206 |
WMG fee income |  | — |  |  | 2,628 |  |  | — |  |  | 2,628 |
CFS fee and commission income |  | — |  |  | — |  |  | 271 |  |  | 271 |
Net gains (losses) on sales of OREO |  | 46 |  |  | — |  |  | — |  |  | 46 |
Net gains on sales of loans(a) |  | 25 |  |  | — |  |  | — |  |  | 25 |
Loan servicing fees(a) |  | 38 |  |  | — |  |  | — |  |  | 38 |
Changes in fair value of equity investments(a) |  | (236) |  |  | — |  |  | (6) |  |  | (242) |
Income from bank-owned life insurance(a) |  | 11 |  |  | — |  |  | — |  |  | 11 |
Other(a) |  | 416 |  |  | — |  |  | (16) |  |  | 400 |
Total non-interest income |  | $ | 2,442 |  |  | $ | 2,628 |  |  | $ | 249 |  |  | $ | 5,319 |
(a) Not within scope of ASC 606. (b) The Holding Company, CFS, and CRM column above includes amounts to eliminate transactions between segments.
|  | Six Months Ended June 30, 2023
Revenue by Operating Segment: Non-interest income |  | Core Banking |  | WMG |  | Holding Company, CFS, and CRM(b) |  | Total
Service charges on deposit accounts |  |  |  |  |  |  |  |
Overdraft fees |  | $ | 1,491 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,491 |
Other |  | 409 |  |  | — |  |  | — |  |  | 409 |
Interchange revenue from debit card transactions |  | 2,327 |  |  | — |  |  | — |  |  | 2,327 |
WMG fee income |  | — |  |  | 5,183 |  |  | — |  |  | 5,183 |
CFS fee and commission income |  | — |  |  | — |  |  | 506 |  |  | 506 |
Net gains (losses) on sales of OREO |  | 14 |  |  | — |  |  | — |  |  | 14 |
Net gains on sales of loans(a) |  | 23 |  |  | — |  |  | — |  |  | 23 |
Loan servicing fees(a) |  | 72 |  |  | — |  |  | — |  |  | 72 |
Net gains on sales of securities(a) |  | — |  |  | — |  |  | — |  |  | — |
Changes in fair value of equity investments(a) |  | 149 |  |  | — |  |  | (180) |  |  | (31) |
Income from bank-owned life insurance(a) |  | 21 |  |  | — |  |  | — |  |  | 21 |
Other(a) |  | 846 |  |  | — |  |  | 9 |  |  | 855 |
Total non-interest income |  | $ | 5,352 |  |  | $ | 5,183 |  |  | $ | 335 |  |  | $ | 10,870 |
(a) Not within scope of ASC 606. (b) The Holding Company, CFS, and CRM column above includes amounts to eliminate transactions between segments.
|  | Six Months Ended June 30, 2022
Revenue by Operating Segment: Non-interest income |  | Core Banking |  | WMG |  | Holding Company, CFS, and CRM(b) |  | Total
Service charges on deposit accounts |  |  |  |  |  |  |  |
Overdraft fees |  | $ | 1,400 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,400 |
Other |  | 400 |  |  | — |  |  | — |  |  | 400 |
Interchange revenue from debit card transactions |  | 2,336 |  |  | — |  |  | — |  |  | 2,336 |
WMG fee income |  | — |  |  | 5,385 |  |  | — |  |  | 5,385 |
CFS fee and commission income |  | — |  |  | — |  |  | 524 |  |  | 524 |
Net gains on sales of OREO |  | 46 |  |  | — |  |  | — |  |  | 46 |
Net gains on sales of loans(a) |  | 99 |  |  | — |  |  | — |  |  | 99 |
Loan servicing fees(a) |  | 77 |  |  | — |  |  | — |  |  | 77 |
Net gains on sales of securities(a) |  | — |  |  | — |  |  | — |  |  | — |
Change in fair value of equity securities(a) |  | (350) |  |  | — |  |  | (5) |  |  | (355) |
Income from bank-owned life insurance(a) |  | 22 |  |  | — |  |  | — |  |  | 22 |
Other(a) |  | 1,105 |  |  | — |  |  | (57) |  |  | 1,048 |
Total non-interest income |  | $ | 5,135 |  |  | $ | 5,385 |  |  | $ | 462 |  |  | $ | 10,982 |
(a) Not within scope of ASC 606. (b) The Holding Company, CFS, and CRM column above includes amounts to eliminate transactions between segments. A description of the Corporation's revenue streams accounted for under ASC 606 follows: Service Charges on Deposit Accounts: The Corporation earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which included services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Corporation fulfills the customer's request. Account maintenance fees, which relate primarily to monthly maintenance, are recognized at the time the maintenance occurs. 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. Interchange Income from Debit Card Transactions: The Corporation earns interchange fees from debit cardholder transactions conducted through the MasterCard payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with transaction processing services provided to the cardholder. WMG Fee Income (Gross): The Corporation earns wealth management fees from its contracts with customers to manage assets for investment, and/or to conduct transactions on their accounts. These fees are primarily earned over time as the Corporation provides the contracted monthly or quarterly services and are generally assessed based on a tiered scale of the market value of assets under management (AUM) at quarter-end. CFS Fee and Commission Income (Net): The Corporation earns fees from investment brokerage services provided to its customers by a third-party service provider. The Corporation receives commissions from the third-party service provider on a monthly basis based upon customer activity for the month. The Corporation (i) acts as an agent in arranging the relationship between the customer and the third-party service provider and (ii) does not control the services rendered to the customers. Investment brokerage fees are presented net of related costs. The Corporation also earns fees from tax services provided to its customers. Net Gains/Losses on Sales of OREO: The Corporation 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. When the Corporation finances the sale of OREO to the buyer, the Corporation assesses whether the buyer is committed to perform their obligations under the contract and whether 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 Corporation adjusts the transaction price and related gain (loss) on sale if a significant financing component is present.

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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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