Other Operating Income and Expense

12 Months Ended

Dec. 31, 2020

Other Income And Expenses [Abstract]

Other Operating Income and Expense

18. OTHER OPERATING INCOME AND EXPENSE

Other operating income for the years ended December 31, 2020 and 2019 consisted of the following:

	Year Ended December 31,
	2020		2019
	(Dollars in Thousands)
Bank-owned life insurance	$	433	$	431
Auto Club revenue		126		220
ATM fee income		479		442
Wire transfer fees		56		50
Gain on sales of premises and equipment and other assets		324		—
Other income		247		434
Total	$	1,665	$	1,577

On January 1, 2018, the Company implemented ASU 2014-09, Revenue from Contracts with Customers, codified at ASC Topic 606. The majority of the Company’s revenue is generated through interest earned on financial instruments, including loans and investment securities, which falls outside the scope of ASC Topic 606. The Company also generates revenue from insurance- and lease-related contracts that fall outside the scope of ASC Topic 606.

All of the Company’s revenue that is subject to ASC Topic 606 is included in non-interest income; however, not all non-interest income is subject to ASC Topic 606. Revenue earned by the Company that is subject to ASC Topic 606 primarily consists of service and other charges on deposit accounts, mortgage fees from secondary market transactions at the Bank, ATM fee income and other non-interest income. Revenue generated from these sources for the years ended December 31, 2020 and 2019 was $3.0 million and $3.4 million, respectively. All sources of the Company’s revenue subject to ASC Topic 606 are transaction-based, and revenue is recognized at the time at which the transaction is executed, which is the same time at which the Company’s performance obligation is satisfied. The Company had no contract liabilities or unsatisfied performance obligations with customers as of December 31, 2020.

Other operating expense for the years ended December 31, 2020 and 2019 consisted of the following:

	Year Ended December 31,
	2020		2019
	(Dollars in Thousands)
Postage, stationery and supplies	$	836	$	873
Telephone/data communication		908		867
Advertising and marketing		175		196
Travel and business development		226		404
Collection and recoveries		218		125
Other services		325		310
Insurance expense		574		586
FDIC insurance and state assessments		468		204
Loss on sales of premises and equipment and other assets		466		408
Core deposit intangible amortization		414		488
Other real estate/foreclosure expense, net		64		185
Other expense		1,811		1,853
Total	$	6,485	$	6,499