REVENUE FROM CONTRACTS WITH CUSTOMERS

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

REVENUE FROM CONTRACTS WITH CUSTOMERS

REVENUE FROM CONTRACTS WITH CUSTOMERSAll of the Company’s revenue from contracts with customers within the scope of ASC 606 is recognized within non-interest income. The guidance does not apply to revenue associated with financial instruments, including loans and

investment securities that are accounted for under other GAAP, which comprise a significant portion of our revenue stream. A description of the Company’s revenue streams accounted for under ASC 606 is as follows:

Service Charges on Deposit Accounts: The Company earns fees from deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed at the point in the time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance.

Interchange Income: The Company earns interchange fees from debit and credit card holder transaction conducted through various payment networks. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided by the cardholder.

Gains/Losses on Sales of OREO: The Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether the collectability of the transaction prices is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain (loss) on sale if a significant financing component is present.

All of the Company’s revenue from contracts with customers in the scope of ASC 606 is recognized within non-interest income. The following table presents the Company’s sources of non-interest income for December 31, 2022, 2021, and 2020. Items outside the scope of ASC 606 are noted as such.

	Year Ended December 31, 2022
Revenue by Operating Segments	Commercial/ Retail Bank		Mortgage Banking Division		Holding Company		Total
($ in thousands)
Non-interest income
Service charges on deposits
Overdraft fees	$	4,023	$	93	$	—	$	4,116
Other	8,679		—		—		8,679
Interchange income	12,702		—		—		12,702
Investment brokerage fees	1,566		—		—		1,566
Net gains on OREO	214		—		—		214
Net losses on sales of securities (1)	(82)		—		—		(82)
Gain on acquisition	281		—		—		281
Loss on premises and equipment	(116)		—		—		(116)
Other	2,724		4,210		2,667		9,601
Total non-interest income	$	29,991	$	4,303	$	2,667	$	36,961

	Year Ended December 31, 2021
Revenue by Operating Segments	Commercial/ Retail Bank		Mortgage Banking Division		Holding Company		Total
($ in thousands)
Non-interest income
Service charges on deposits
Overdraft fees	$	3,122	$	—	$	—	$	3,122
Other	4,140		2		—		4,142
Interchange income	11,562		—		—		11,562
Investment brokerage fees	1,349		—		—		1,349
Net (losses) on OREO	(300)		—		—		(300)
Net gains on sales of securities (1)	143		—		—		143
Gain on acquisition	1,300		—		—		1,300
Loss on premises and equipment	(264)		—		—		(264)
Other	7,487		8,821		111		16,419
Total non-interest income	$	28,539	$	8,823	$	111	$	37,473

	Year Ended December 31, 2020
	Commercial/ Retail Bank		Mortgage Banking Division		Holding Company		Total
Revenue by Operating Segments
($ in thousands)
Non-interest income
Service charges on deposits
Overdraft fees	$	3,218	$	—	$	—	$	3,218
Other	3,993		2		—		3,995
Interchange income	9,433		—		—		9,433
Investment brokerage fees	932		—		—		932
Net gains (losses) on OREO	(537)		—		—		(537)
Net gains on sales of securities (1)	281		—		—		281
Gain on acquisition	7,835		—		—		7,835
Gain on premises and equipment	443		—		—		443
Other	4,940		10,444		892		16,276
Total non-interest income	$	30,538	$	10,446	$	892	$	41,876

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(1)Not within scope of ASC 606