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Revenue From Contracts With Customers
 12 Months Ended
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer REVENUE FROM CONTRACTS WITH CUSTOMERS
We account for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers. We derive the majority of our revenue from financial instruments and their related contractual rights and obligations which for the most part are excluded from the scope of this topic. These sources of revenue that are excluded from the scope of this topic include interest income, net gains on mortgage loans, net gains (losses) on securities AFS, mortgage loan servicing, net and bank owned life insurance and were approximately 84.1%, 84.6% and 88.1% of total revenues at December 31, 2022, 2021 and 2020, respectively.
Material sources of revenue that are included in the scope of topic include service charges on deposit accounts, other deposit related income, interchange income and investment and insurance commissions and are discussed in the following paragraphs. Generally these sources of revenue are earned at the time the service is delivered or over the course of a monthly period and do not result in any contract asset or liability balance at any given period end. As a result, there were no contract assets or liabilities recorded as of December 31, 2022 and 2021.
Service charges on deposit accounts and other deposit related income: Revenues are earned on depository accounts for commercial and retail customers and include fees for transaction-based, account maintenance and overdraft services. Transaction-based fees, which includes services such as ATM use fees, stop payment charges and ACH fees are recognized at the time the transaction is executed as that is the time we fulfill our customer’s request. Account maintenance fees, which includes monthly maintenance services are earned over the course of a month representing the period over which the performance obligation is satisfied. Our obligation for overdraft services is satisfied at the time of the overdraft.
Interchange income: Interchange income primarily includes debit card interchange and network revenues. Debit card interchange and network revenues are earned on debit card transactions conducted through payment networks such as MasterCard, NYCE (during 2021 and 2020) and Accel. Interchange income is recognized concurrently with the delivery of services on a daily basis. Interchange and network revenues are presented gross of interchange expenses, which are presented separately as a component of non-interest expense.
Investment and insurance commissions: Investment and insurance commissions include fees and commissions from asset management, custody, recordkeeping, investment advisory and other services provided to our customers. Revenue is recognized on an accrual basis at the time the services are performed and generally based on either the market value of the assets managed or the services provided. We have an agent relationship with a third party provider of these services and net certain direct costs charged by the third party provider associated with providing these services to our customers.
Net (gains) losses on other real estate and repossessed assets: We record a gain or loss from the sale of other real estate when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. If we were to finance the sale of other real estate to the buyer, we would assess whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction is probable. Once these criteria are met, the other real estate asset would be derecognized and the gain or loss on sale would be recorded upon the transfer of control of the property to the buyer. There were no other real estate properties sold during 2022, 2021 or 2020 that were financed by us.
Disaggregation of our revenue sources by attribute for the years ended December 31 follow:
Service
Charges
on Deposit
Accounts		Other
Deposit
Related
Income		Interchange
Income		Investment
and
Insurance
Commissions		Total
2022(In thousands)
Retail     
Overdraft fees$10,090 $— $— $— $10,090 
Account service charges1,626 — — — 1,626 
ATM fees— 1,186 — — 1,186 
Other— 972 — — 972 
Business    
Overdraft fees572 — — — 572 
ATM fees— 29 — — 29 
Other— 315 — — 315 
Interchange income— — 13,955 — 13,955 
Asset management revenue— — — 1,781 1,781 
Transaction based revenue— — — 1,117 1,117 
    
Total$12,288 $2,502 $13,955 $2,898 $31,643 
     
Reconciliation to Consolidated Statement of Operations:   
Non-interest income - other:     
Other deposit related income    $2,502 
Investment and insurance commissions   2,898 
Bank owned life insurance (1)    360 
Other (1)    4,977 
Total    $10,737 
(1) Excluded from the scope of ASC Topic 606.
Service
Charges
on Deposit
Accounts		Other
Deposit
Related
Income		Interchange
Income		Investment
and
Insurance
Commissions		Total
2021(In thousands)
Retail
Overdraft fees$8,431 $— $— $— $8,431 
Account service charges1,130 — — — 1,130 
ATM fees— 1,109 — — 1,109 
Other— 819 — — 819 
Business    
Overdraft fees609 — — — 609 
ATM fees— 24 — — 24 
Other— 328 — — 328 
Interchange income— — 14,045 — 14,045 
Asset management revenue— — — 1,689 1,689 
Transaction based revenue— — — 914 914 
     
Total$10,170 $2,280 $14,045 $2,603 $29,098 
     
Reconciliation to Consolidated Statement of Operations:   
Non-interest income - other:     
Other deposit related income$2,280 
Investment and insurance commissions2,603 
Bank owned life insurance (1)567 
Other (1)3,942 
Total$9,392 
(1) Excluded from the scope of ASC Topic 606.
 Service
Charges
on Deposit
Accounts		Other
Deposit
Related
Income		Interchange
Income		Investment
and
Insurance
Commissions		Total
2020(In thousands)
Retail     
Overdraft fees$5,627 $— $— $— $5,627 
Account service charges2,017 — — — 2,017 
ATM fees— 1,173 — — 1,173 
Other— 769 — — 769 
Business    
Overdraft fees873 — — — 873 
ATM fees— 24 — — 24 
Other— 342 — — 342 
Interchange income— — 11,230 — 11,230 
Asset management revenue— — — 1,283 1,283 
Transaction based revenue— — — 688 688 
    
Total$8,517 $2,308 $11,230 $1,971 $24,026 
     
Reconciliation to Consolidated Statement of Operations:   
Non-interest income - other:     
Other deposit related income    $2,308 
Investment and insurance commissions   1,971 
Bank owned life insurance (1)    910 
Other (1)    2,332 
Total    $7,521 
(1) Excluded from the scope of ASC Topic 606.