Revenue Recognition

6 Months Ended

Jun. 30, 2024

Revenue Recognition

Revenue Recognition

(15)    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 and other fees in other noninterest income in the Consolidated Statements of Operations. The table below reconciles the revenue from contracts with customers and other revenue reported in those line items:

	Service and
(Dollars in thousands)	Other Fees		Other		Total
Three months ended June 30, 2024
Revenue from contracts with customers	$	306	$	37	$	343
Other revenue		33		35		68
Total	$	339	$	72	$	411
Three months ended June 30, 2023
Revenue from contracts with customers	$	377	$	27	$	404
Other revenue		37		33		70
Total	$	414	$	60	$	474
Six months ended June 30, 2024
Revenue from contracts with customers	$	546	$	77	$	623
Other revenue		66		69		135
Total	$	612	$	146	$	758
Six months ended June 30, 2023
Revenue from contracts with customers	$	652	$	69	$	721
Other revenue		72		66		138
Total	$	724	$	135	$	859