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Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2022
Revenue Recognition [Abstract]  
Summary of Revenue Recognition

The following table summarizes the point of revenue recognition and the income recognized for each of the revenue streams for the three and six months ended June 30, 2022 and 2021, respectively:

 

 

 

Point of Revenue

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

(unaudited, in thousands)

 

Recognition

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Revenue Streams

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trust fees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trust account fees

 

Over time

 

$

4,416

 

 

$

4,710

 

 

$

9,958

 

 

$

10,024

 

WesMark fees

 

Over time

 

 

2,111

 

 

 

2,438

 

 

 

4,404

 

 

 

4,756

 

Total trust fees

 

 

 

 

6,527

 

 

 

7,148

 

 

 

14,362

 

 

 

14,780

 

Service charges on deposits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial banking fees

 

Over time

 

 

602

 

 

 

601

 

 

 

1,170

 

 

 

1,165

 

Personal service charges

 

At a point in time and over time

 

 

5,885

 

 

 

4,275

 

 

 

11,407

 

 

 

8,605

 

Total service charges on deposits

 

 

 

 

6,487

 

 

 

4,876

 

 

 

12,577

 

 

 

9,770

 

Net securities brokerage revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annuity commissions

 

At a point in time

 

 

1,679

 

 

 

1,151

 

 

 

3,261

 

 

 

2,067

 

Equity and debt security trades

 

At a point in time

 

 

8

 

 

 

57

 

 

 

65

 

 

 

133

 

Managed money

 

Over time

 

 

327

 

 

 

291

 

 

 

654

 

 

 

574

 

Trail commissions

 

Over time

 

 

244

 

 

 

330

 

 

 

498

 

 

 

578

 

Total net securities brokerage revenue

 

 

 

 

2,258

 

 

 

1,829

 

 

 

4,478

 

 

 

3,352

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debit card sponsorship income (1)

 

At a point in time and over time

 

 

—

 

 

 

—

 

 

 

—

 

 

 

646

 

Payment processing fees (1)

 

At a point in time and over time

 

 

877

 

 

 

748

 

 

 

1,618

 

 

 

1,461

 

Electronic banking fees

 

At a point in time

 

 

5,154

 

 

 

5,060

 

 

 

10,499

 

 

 

9,426

 

Mortgage banking income

 

At a point in time

 

 

1,328

 

 

 

7,830

 

 

 

3,251

 

 

 

12,094

 

Net (loss) gain on other real estate owned and other assets (2)

 

At a point in time and over time

 

 

(1,302

)

 

 

4,014

 

 

 

(2,108

)

 

 

4,189

 

 

(1)
Debit card sponsorship income and payment processing fees are included in other non-interest income.
(2)
The portion of this line item relating to the change in the fair value of the underlying investments funded by Wesbanco CDC is not within the scope of ASC 606, and totaled (losses) gains of ($1.4) million and $3.7 million for the three months ended June 30, 2022 and 2021, respectively, and ($2.6) million and $3.8 million for the six months ended June 30, 2022 and 2021, respectively.