Note 10: Non-Interest Income

During the three months ended March 31, 2018, the Company adopted the amendments of ASU 2014-09 – Revenue from Contracts with Customers (Topic 606) and all subsequent ASUs that modified Topic 606. The Company has included the following table regarding the Company’s non-interest income for the periods presented.

	For the three		For the three
	months ended		months ended
	March 31, 2018		March 31, 2017
(In thousands)
Service fees
Deposit related fees		10		19
Insufficient funds fee		22		21
Total service fees		32		40
Fee income
Securities commission income		17		12
Insurance commission income		22		23
Total insurance and securities commission income		39		35
Card income
Debit card interchange fee income		35		31
ATM fees		7		7
Total card income		42		38
Mortgage fee income and realized gain on sales of loans
Residential mortgage loan origination fees		81		83
Commercial loan fees		8		13
Loan servicing income		85		76
Realized gain on sales of residential mortgage loans		301		326
Realized gain on sale of SBA loan		47		-
Total mortgage fee income and realized gain on sales of loans		522		498
Bank owned life insurance		15		15
Other miscellaneous income		18		10
Total non-interest income	$	668	$	636

The Company recognizes revenue as it is earned and noted no impact to its revenue recognition policies as a result of the adoption of ASU 2014-09. The following is a discussion of key revenues within the scope of the new revenue guidance:

Service fees – Revenue from fees on deposit accounts is earned through the presentation of an individual item for processing for insufficient funds fees or customer initiated activities or passage of time for deposit related fees.

Fee income – Fee income is earned through commissions on insurance and securities sales and earned at a point in time.

Card income – Card income consists of interchange fees from consumer debit card networks and other card related services. Interchange rates are set by the card networks. Interchange fees are based on purchase volumes and other factors and are recognized as transactions occur.

Mortgage fee income and realized gain on sales of loans – Revenue from mortgage fee income and realized gain on sales of loans is earned through the origination of residential and commercial mortgage loans and the sales of one-to-four family residential mortgage loans and government guaranteed portions of SBA loans and is recognized as transactions occur.