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Revenue Recognition
6 Months Ended
Jun. 30, 2020
Revenue Recognition  
Revenue Recognition

(14)    Revenue Recognition

The Company’s contracts with customers are generally short-term in nature, with cycles of one year or less. These can range from an immediate term for services such as wire transfers, foreign currency exchanges and cashier’s check purchases, to several days for services such as processing annuity and mutual fund sales. Some contracts may be of an ongoing nature, such as providing deposit account services, including ATM access, check processing, account analysis and check ordering. However, provision of an assessable service and payment for such service is usually concurrent or closely timed. Contracts related to financial instruments, such as loans, investments and debt, are excluded from the scope of this reporting requirement.

After analyzing the Company’s revenue sources, including the amount of revenue received, the timing of services rendered and the timing of payment for these services, the Company has determined that the rendering of services and the payment for such services are generally closely matched. Any differences are not material to the Company’s consolidated financial statements. Accordingly, the Company generally records income when payment for services is received.

Revenue from contracts with customers is reported in service fees on loan and deposit accounts and in other noninterest income in the consolidated statements of income. The table below reconciles the revenue from contracts with customers and other revenue reported in those line items:

 

 

Service Fees on

 

 

 

 

Loan and Deposit

 

 

(Dollars in thousands)

 

Accounts

 

Other

 

Total

Three months ended June 30, 2020

Revenue from contracts with customers

$

345

$

20

$

365

Other revenue

190

27

217

Total

$

535

$

47

$

582

Three months ended June 30, 2019

Revenue from contracts with customers

$

373

$

54

$

427

Other revenue

112

454

566

Total

$

485

$

508

$

993

Six months ended June 30, 2020

Revenue from contracts with customers

$

643

$

53

$

696

Other revenue

345

55

400

Total

$

988

$

108

$

1,096

Six months ended June 30, 2019

Revenue from contracts with customers

$

700

$

100

$

800

Other revenue

223

480

703

Total

$

923

$

580

$

1,503