Note 19 - Noninterest Income

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE 19 Noninterest Income

The following table presents the Company’s noninterest income for the years ended December 31, 2024, 2023, and 2022:

	Year ended
	December 31,
(dollars in thousands)	2024		2023			2022
Retirement and benefit	$	64,365	$	65,294		$	67,135
Wealth		26,171		21,855			20,870
Mortgage banking (1)		10,073		8,411			16,921
Service charges on deposit accounts		1,976		1,280			1,434
Net gains (losses) on investment securities (1)		—		(24,643	)		—
Other
Gain on sale of premises and equipment		3,941		50			33
Client swap fees		2,135		1,396			—
Interchange fees		2,291		2,222			2,246
Bank-owned life insurance income (1)		862		876			836
Misc. transactional fees		1,366		1,433			1,412
Other noninterest income		1,750		2,055			336
Total noninterest income	$	114,930	$	80,229		$	111,223

⁽¹⁾ Not within the scope of ASC 606.

Contract balances: A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest income streams are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market value. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. As of December 31, 2024 and 2023, the Company did not have any significant contract balances.

Contract acquisition costs: In connection with the adoption of Topic 606, an entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, sales commission). The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset would have resulted from capitalizing these costs would have been amortized in one year or less.