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Non-interest Revenue and Expense | 3 Months Ended
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Jun. 30, 2021
Revenue from Contract with Customer [Abstract] |
Revenue from Contract with Customer | NON-INTEREST REVENUE AND EXPENSE Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain non-interest income streams such as gains on sales of residential mortgage and SBA loans, income associated with servicing assets, and loan fees, including residential mortgage originations to be sold and prepayment and late fees charged across all loan categories are also not in scope of the new guidance. Topic 606 is applicable to non-interest revenue streams, such as depository fees, service charges and commission revenues. However, the recognition of these revenue streams did not change significantly upon adoption of Topic 606. Non-interest revenue streams in-scope of Topic 606 are discussed below. Depository fees and charges Depository fees and charges primarily relate to service fees on deposit accounts and fees earned from debit cards and check cashing transactions. Service fees on deposit accounts consist of ATM fees, NSF fees, account maintenance charges and other deposit related fees. The revenue is recognized monthly when the Bank's performance obligations are complete, or as incurred for transaction-based fees in accordance with the fee schedules for the Bank's deposit products and services. Loan fees and service charges Loan fees and service charges primarily relate to program management fees and fees earned in accordance with the Bank's standard lending fees (such as inspection and late charges). These standard lending fees are earned on a monthly basis upon receipt. Other non-interest income Other non-interest income includes correspondent banking fees, and income associated with an advertising services agreement covering marketing and use of the Bank's office space with a third party. The revenue is recognized on a monthly basis. Interchange income The Company earns interchange fees from debit card holder transactions conducted through various payment networks. Interchangee fees from cardholder transactions are recognized daily, concurrently with the transaction processing services provided by an outsource technology solution and are presented on a net basis. The following table presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the three months ended June 30, 2021 and 2020:
|  |  |  | Three Months Ended June 30,
$ in thousands |  |  |  |  |  | 2021 |  | 2020
Non-interest income |  |  |  |  |  |  |  |
In-scope of Topic 606 |  |  |  |  |  |  |  |
Depository fees and charges |  |  |  |  |  | $ | 603 |  |  | $ | 587 |
Loan fees and service charges |  |  |  |  |  | 98 |  |  | 57 |
Other non-interest income |  |  |  |  |  | 876 |  |  | 92 |
Non-interest income (in-scope of Topic 606) |  |  |  |  |  | 1,577 |  |  | 736 |
Non-interest income (out-of-scope of Topic 606) |  |  |  |  |  | 64 |  |  | 947 |
Total non-interest income |  |  |  |  |  | $ | 1,641 |  |  | $ | 1,683 |
The following table sets forth other non-interest income and expense totals exceeding 1% of the aggregate of total interest income and non-interest income for any of the periods presented:
|  |  |  | Three Months Ended June 30,
$ in thousands |  |  |  |  |  | 2021 |  | 2020
Other non-interest income: |  |  |  |  |  |  |  |
Correspondent banking fees |  |  |  |  |  | $ | 865 |  |  | $ | 79 |
Other |  |  |  |  |  | 71 |  |  | 83 |
Total non-interest income |  |  |  |  |  | $ | 936 |  |  | $ | 162 |
Other non-interest expense: |  |  |  |  |  |  |  |
Advertising |  |  |  |  |  | $ | 99 |  |  | $ | 25 |
Contributions |  |  |  |  |  | 2 |  |  | 84 |
Legal expense |  |  |  |  |  | 79 |  |  | 70 |
Insurance and surety |  |  |  |  |  | 199 |  |  | 158 |
Audit expense |  |  |  |  |  | 112 |  |  | 138 |
Data lines / internet |  |  |  |  |  | 109 |  |  | 112 |
Retail expenses |  |  |  |  |  | 243 |  |  | 184 |
Loss contingency |  |  |  |  |  | 2,100 |  |  | — |
Director's fees |  |  |  |  |  | 71 |  |  | 85 |
Other |  |  |  |  |  | 646 |  |  | 543 |
Total non-interest expense |  |  |  |  |  | $ | 3,660 |  |  | $ | 1,399 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045 + Details
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