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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
The following tables summarize total revenues as presented in the Unaudited Consolidated Statements of Income and the related amounts that are from contracts with customers within the scope of ASC 606. As shown below, a substantial portion of our revenues are specifically excluded from the scope of ASC 606.
For the three months ended June 30, 20242023
(Dollars in thousands)
Revenue (1)
ASC 606 Revenue (2)
Revenue (1)
ASC 606 Revenue (2)
Net interest income$31,585 $— $33,500 $— 
Noninterest income:
Wealth management revenues9,678 9,678 9,048 9,048 
Mortgage banking revenues
2,761 — 1,753 — 
Card interchange fees
1,275 1,275 1,268 1,268 
Service charges on deposit accounts
769 769 667 667 
Loan related derivative income
49 — 247 — 
Income from bank-owned life insurance
753 — 879 — 
Other income
1,375 286 463 344 
Total noninterest income16,660 12,008 14,325 11,327 
Total revenues$48,245 $12,008 $47,825 $11,327 
(1)As reported in the Unaudited Consolidated Statements of Income.
(2)Revenue from contracts with customers in scope of ASC 606.

For the six months ended June 30, 20242023
(Dollars in thousands)Revenue (1)
ASC 606 Revenue (2)
Revenue (1)
ASC 606 Revenue (2)
Net interest income$63,250 $— $70,693 $— 
Noninterest income:
Wealth management revenues19,016 19,016 17,711 17,711 
Mortgage banking revenues5,267 — 2,998 — 
Card interchange fees2,420 2,420 2,400 2,400 
Service charges on deposit accounts1,454 1,454 1,444 1,444 
Loan related derivative income333 — 196 — 
Income from bank-owned life insurance1,492 — 2,044 — 
Other income3,841 556 815 620 
Total noninterest income33,823 23,446 27,608 22,175 
Total revenues$97,073 $23,446 $98,301 $22,175 
(1)As reported in the Unaudited Consolidated Statements of Income.
(2)Revenue from contracts with customers in scope of ASC 606.
The following table presents revenue from contracts with customers based on the timing of revenue recognition:
(Dollars in thousands)Three MonthsSix Months
Periods ended June 30, 2024202320242023
Revenue recognized at a point in time:
Card interchange fees$1,275 $1,268 $2,420 $2,400 
Service charges on deposit accounts490 425 915 983 
Other income227 281 438 497 
Revenue recognized over time:
Wealth management revenues
9,678 9,048 19,016 17,711 
Service charges on deposit accounts
279 242 539 461 
Other income
59 63 118 123 
Total revenues from contracts with customers in scope of ASC 606
$12,008 $11,327 $23,446 $22,175 

Receivables for revenue from contracts with customers primarily consist of amounts due for wealth management services performed for which the Corporation’s performance obligations have been fully satisfied. Receivables amounted to $5.9 million and $5.5 million, respectively, at June 30, 2024 and December 31, 2023 and were included in other assets in the Unaudited Consolidated Balance Sheets.

Deferred revenues, which are considered contract liabilities under ASC 606, represent advance consideration received from customers for which the Corporation has a remaining performance obligation to fulfill. Contract liabilities are recognized as revenue over the life of the contract as the performance obligations are satisfied. The balances of contract liabilities were insignificant at both June 30, 2024 and December 31, 2023 and were included in other liabilities in the Unaudited Consolidated Balance Sheets.

For commissions and incentives that are in scope of ASC 606, such as those paid to employees in our wealth management services and commercial banking segments in order to obtain customer contracts, contract cost assets are established. The contract cost assets are capitalized and amortized over the estimated useful life that the asset is expected to generate benefits. The carrying value of contract cost assets amounted to $1.9 million and $2.0 million, respectively at June 30, 2024 and December 31, 2023 and were included in other assets in the Unaudited Consolidated Balance Sheets. The amortization of contract cost assets is recorded within salaries and employee benefits expense in the Unaudited Consolidated Statements of Income.