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Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2021
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, 2021 and 2020, respectively:

 

 

 

Point of Revenue

 

For the Three Months

Ended June 30,

 

 

For the Six Months

Ended June 30,

 

(unaudited, in thousands)

 

Recognition

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Revenue Streams

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trust fees

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trust account fees

 

Over time

 

$

4,710

 

 

$

4,189

 

 

$

10,024

 

 

$

9,046

 

WesMark fees

 

Over time

 

 

2,438

 

 

 

2,013

 

 

 

4,756

 

 

 

4,108

 

Total trust fees

 

 

 

 

7,148

 

 

 

6,202

 

 

 

14,780

 

 

 

13,154

 

Service charges on deposits

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial banking fees

 

Over time

 

 

601

 

 

 

586

 

 

 

1,165

 

 

 

1,171

 

Personal service charges

 

At a point in time and over time

 

 

4,275

 

 

 

3,737

 

 

 

8,605

 

 

 

9,769

 

Total service charges on deposits

 

 

 

 

4,876

 

 

 

4,323

 

 

 

9,770

 

 

 

10,940

 

Net securities brokerage revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Annuity commissions

 

At a point in time

 

 

1,151

 

 

 

845

 

 

 

2,067

 

 

 

1,883

 

Equity and debt security trades

 

At a point in time

 

 

57

 

 

 

94

 

 

 

133

 

 

 

253

 

Managed money

 

Over time

 

 

291

 

 

 

214

 

 

 

574

 

 

 

449

 

Trail commissions

 

Over time

 

 

330

 

 

 

131

 

 

 

578

 

 

 

478

 

Total net securities brokerage revenue

 

 

 

 

1,829

 

 

 

1,384

 

 

 

3,352

 

 

 

3,063

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Debit card sponsorship income (1)

 

At a point in time and over time

 

 

—

 

 

 

644

 

 

 

646

 

 

 

1,351

 

Payment processing fees (1)

 

At a point in time and over time

 

 

748

 

 

 

784

 

 

 

1,461

 

 

 

1,464

 

Electronic banking fees

 

At a point in time

 

 

5,060

 

 

 

4,066

 

 

 

9,426

 

 

 

8,320

 

Mortgage banking income

 

At a point in time

 

 

7,830

 

 

 

7,531

 

 

 

12,094

 

 

 

8,807

 

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

 

At a point in time and over time

 

 

4,014

 

 

 

(66

)

 

 

4,189

 

 

 

103

 

 

(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 gains (losses) of $3.7 million and ($0.1) million for the three months ended June 30, 2021 and 2020, respectively, and $3.8 million and ($0.1) million for the six months ended June 30, 2021 and 2020, respectively.