Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2019

Revenue from contracts with customers is recognized when obligations under the terms of a contract with the Corporation's customer are satisfied. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. We do not have any material significant payment terms as payment is received at or shortly after the satisfaction of the performance obligation.

The Corporation's disaggregated revenue by major source is presented below:



	Corporate and Commercial Specialty
	Three Months Ended September 30,				Nine Months Ended September 30,
($ in Thousands)	2019		2018		2019			2018
Service charges and deposit account fees	$	3,182	$	3,669	$	9,765		$	11,680
Card-based fees^(a)	336		353		1,001			1,014
Other revenue	809		88		(475		)	(69		)
Noninterest Income (in-scope of Topic 606)	$	4,326	$	4,109	$	10,291		$	12,625
Noninterest Income (out-of-scope of Topic 606)	9,125		8,171		28,924			26,531
Total Noninterest Income	$	13,452	$	12,280	$	39,215		$	39,156


	Community, Consumer, and Business
	Three Months Ended September 30,				Nine Months Ended September 30,
($ in Thousands)	2019		2018		2019			2018
Insurance commissions and fees	$	21,041	$	21,677	$	69,483		$	68,289
Wealth management fees^(b)	21,015		21,224		61,885			61,932
Service charges and deposit account fees	13,367		13,210		37,293			37,984
Card-based fees^(a)	10,120		9,489		28,829			28,449
Other revenue	2,803		2,918		8,175			8,411
Noninterest Income (in-scope of Topic 606)	$	68,346	$	68,518	$	205,666		$	205,065
Noninterest Income (out-of-scope of Topic 606)	12,787		5,320		28,026			19,059
Total Noninterest Income	$	81,133	$	73,838	$	233,692		$	224,124



	Risk Management and Shared Services
	Three Months Ended September 30,						Nine Months Ended September 30,
($ in Thousands)	2019			2018			2019			2018
Insurance commissions and fees	$	(87	)	$	(41	)	$	(80	)	$	(9	)
Wealth management fees^(b)	—			—			—			267
Service charges and deposit account fees	12			25			44			50
Card-based fees^(a)	45			(15		)	143			(9		)
Other revenue	71			122			310			282
Noninterest Income (in-scope of Topic 606)	$	41		$	91		$	417		$	580
Noninterest Income (out-of-scope of Topic 606)	6,224			2,092			14,567			7,662
Total Noninterest Income	$	6,265		$	2,183		$	14,983		$	8,242

	Consolidated Total
	Three Months Ended September 30,						Nine Months Ended September 30,
($ in Thousands)	2019			2018			2019			2018
Insurance commissions and fees	$	20,954		$	21,636		$	69,403		$	68,279
Wealth management fees^(b)	21,015			21,224			61,885			62,198
Service charges and deposit account fees	16,561			16,904			47,102			49,714
Card-based fees^(a)	10,501			9,826			29,973			29,454
Other revenue	3,683			3,128			8,010			8,624
Noninterest Income (in-scope of Topic 606)	$	72,713		$	72,718		$	216,373		$	218,270
Noninterest Income (out-of-scope of Topic 606)	28,137			15,583			71,517			53,252
Total Noninterest Income	$	100,850		$	88,300		$	287,890		$	271,522

(a) Certain card-based fees are out-of-scope of Topic 606.

(b) Includes trust, asset management, brokerage, and annuity fees.

Below is a listing of performance obligations for the Corporation's main revenue streams:



Revenue Stream		Noninterest income in-scope of Topic 606
Insurance commissions and fees		The Corporation's insurance revenue has two distinct performance obligations. The first performance obligation is the selling of the policy as an agent for the carrier. This performance obligation is satisfied upon binding of the policy. The second performance obligation is the ongoing servicing of the policy which is satisfied over the life of the policy. For employee benefits, the payment is typically received monthly. For property and casualty, payments can vary, but are typically received at, or in advance, of the policy period.
Service charges and deposit account fees		Service charges on deposit accounts consist of monthly service fees (i.e. business analysis fees and consumer service charges) and other deposit account related fees. The Corporation's performance obligation for monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Other deposit account related fees are largely transactional based, and therefore, the Corporation's performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts.
Card-based fees^(a)		Card-based fees are primarily comprised of debit and credit card income, ATM fees, and merchant services income. Debit and credit card income is primarily comprised of interchange fees earned whenever the Corporation's debit and credit cards are processed through card payment networks. ATM and merchant fees are largely transactional based, and therefore, the Corporation's performance obligation is satisfied, and related revenue recognized, at a point in time. Payment is typically received immediately or in the following month.
Trust and asset management fees^(b)		Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Corporation's performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received a few days after month end through a direct charge to customers’ accounts. The Corporation's performance obligation for these transactional-based services is generally satisfied, and related revenue recognized, at a point in time (i.e., as incurred). Payment is received shortly after services are rendered.
Brokerage commissions and fees^(b)		Brokerage commissions and fees primarily consist of investment advisory, brokerage, retirement services, and annuities. The Corporation's performance obligation for investment advisory services and retirement services is generally satisfied, and the related revenue recognized, over the period in which the services are provided. The performance obligation for annuities is satisfied upon sale of the annuity, and therefore, the related revenue is primarily recognized at the time of sale. Payments for these services are typically received immediately or in advance of the service.

(a) Certain card-based fees are out-of-scope of Topic 606.

(b) Trust and asset management fees and brokerage commissions and fees are included in wealth management fees.

Arrangements with Multiple Performance Obligations

The Corporation's contracts with customers may include multiple performance obligations. For such arrangements, we allocate revenue to each performance obligation based on its relative standalone selling price. We generally determine standalone selling prices based on the expected cost plus margin.

Practical Expedients

We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.

Using the practical expedient, for contracts with a term of one year or less, the Corporation recognizes incremental costs of obtaining those contracts as an expense when incurred.