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Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2025
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, 2025 and 2024, respectively:

 

 

 

Point of Revenue

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

(unaudited, in thousands)

 

Recognition

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Revenue Streams

 

 

 

 

 

 

 

 

 

 

Trust fees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trust account fees

 

Over time

 

$

7,698

 

 

$

5,305

 

 

$

14,372

 

 

$

11,405

 

WesMark fees

 

Over time

 

 

1,959

 

 

 

1,998

 

 

 

3,983

 

 

 

3,980

 

Total trust fees

 

 

 

 

9,657

 

 

 

7,303

 

 

 

18,355

 

 

 

15,385

 

Service charges on deposits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial banking fees

 

Over time

 

 

2,446

 

 

 

1,297

 

 

 

4,383

 

 

 

2,485

 

Personal service charges

 

At a point in time and over time

 

 

8,038

 

 

 

5,814

 

 

 

14,687

 

 

 

11,410

 

Total service charges on deposits

 

 

 

 

10,484

 

 

 

7,111

 

 

 

19,070

 

 

 

13,895

 

Net securities brokerage revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annuity commissions

 

At a point in time

 

 

2,610

 

 

 

1,978

 

 

 

4,598

 

 

 

3,950

 

Equity and debt security trades

 

At a point in time

 

 

84

 

 

 

70

 

 

 

208

 

 

 

150

 

Managed money

 

Over time

 

 

337

 

 

 

272

 

 

 

664

 

 

 

526

 

Trail commissions

 

Over time

 

 

317

 

 

 

281

 

 

 

579

 

 

 

523

 

Total net securities brokerage revenue

 

 

 

 

3,348

 

 

2,601

 

 

 

6,049

 

 

 

5,149

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment processing fees (1)

 

At a point in time and over time

 

 

804

 

 

 

906

 

 

 

1,696

 

 

 

1,734

 

Digital banking income

 

At a point in time

 

 

7,325

 

 

 

5,040

 

 

 

12,730

 

 

 

9,745

 

Net swap fee and valuation income (2)

 

At a point in time

 

 

746

 

 

 

1,776

 

 

 

1,706

 

 

 

3,339

 

Mortgage banking income

 

At a point in time

 

 

2,364

 

 

 

1,069

 

 

 

3,504

 

 

 

1,762

 

Net gain on other real estate owned and other assets

 

At a point in time and over time

 

 

111

 

 

 

34

 

 

 

71

 

 

 

188

 

 

(1)
Included in other non-interest income.
(2)
The portion of this line item relating to the change in the fair value of the underlying swaps is not within the scope of ASC 606, and totaled losses of $0.7 million and $0.0 million for the three months ended June 30, 2025 and 2024, respectively. Fair value adjustments were ($1.7) million and $0.8 million for the six months ended June 30, 2025 and 2024, respectively.