v3.25.2
Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
We account for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers. We derive the majority of our revenue from financial instruments and their related contractual rights and obligations which for the most part are excluded from the scope of this topic. These sources of revenue that are excluded from the scope of this topic include interest income, net gains on mortgage loans, net losses on securities AFS, mortgage loan servicing, net and bank owned life insurance and were approximately 88.6% and 89.1% of total revenues for the six month periods ending June 30, 2025 and 2024, respectively.
Material sources of revenue that are included in the scope of this topic include service charges on deposit accounts, other deposit related income, interchange income and investment and insurance commissions and are discussed in the following paragraphs. Generally these sources of revenue are earned at the time the service is delivered or over the course of a monthly period and do not result in any contract asset or liability balance at any given period end. As a result, there were no contract assets or liabilities recorded as of June 30, 2025 and December 31, 2024, respectively.
Service charges on deposit accounts and other deposit related income: Revenues are earned on depository accounts for commercial and retail customers and include fees for transaction-based, account maintenance and overdraft services. Transaction-based fees, which includes services such as ATM use fees, stop payment charges and ACH fees are recognized at the time the transaction is executed as that is the time we fulfill our customer’s request. Account maintenance fees, which includes monthly maintenance services are earned over the course of a month representing the period over which the performance obligation is satisfied. Our obligation for overdraft services is satisfied at the time of the overdraft.
Interchange income: Interchange income primarily includes debit card interchange and network revenues. Debit card interchange and network revenues are earned on debit card transactions conducted through payment networks such as MasterCard and Accel. Interchange income is recognized concurrently with the delivery of services on a daily basis. Interchange and network revenues are presented gross of interchange expenses, which are presented separately as a component of non-interest expense.
Investment and insurance commissions: Investment and insurance commissions include fees and commissions from asset management, custody, recordkeeping, investment advisory and other services provided to our customers. Revenue is recognized on an accrual basis at the time the services are performed and generally based on either the market value of the assets managed or the services provided. We have an agent relationship with a third party provider of these services and net certain direct costs charged by the third party provider associated with providing these services to our customers.
Net (gains) losses on other real estate and repossessed assets: We record a gain or loss from the sale of other real estate when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. If we were to finance the sale of other real estate to the buyer, we would assess whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction is probable. Once these criteria are met, the other real estate asset would be derecognized and the gain or loss on sale would be recorded upon the transfer of control of the property to the buyer. There were no other real estate properties sold during the six month periods ending June 30, 2025 and 2024 that were financed by us.
Three months ending June 30, 2025
Service
Charges
on Deposit
Accounts		Other
Deposit
Related
Income		Interchange
Income		Investment
and
Insurance
Commissions		Total
(In thousands)
Retail
Overdraft fees$2,193 $— $— $— $2,193 
Account service charges673 — — — 673 
ATM fees— 401 — — 401 
Other— 169 — — 169 
Business    
Overdraft fees115 — — — 115 
ATM fees— 12 — — 12 
Other— 115 — — 115 
Interchange income— — 3,390 — 3,390 
Asset management revenue— — — 390 390 
Transaction based revenue— — — 420 420 
     
Total$2,981 $697 $3,390 $810 $7,878 
     
Reconciliation to interim Condensed Consolidated Statement of Operations:
  
Non-interest income - other:     
Other deposit related income    $697 
Investment and insurance commissions   810 
Bank owned life insurance (1)    296 
Other (1)
    1,019 
Total    $2,822 
(1)Excluded from the scope of ASC Topic 606.
Three months ending June 30, 2024
Service
Charges
on Deposit
Accounts		 Other
Deposit
Related
Income		Interchange
Income		Investment
and
Insurance
Commissions		Total
(In thousands)
Retail
Overdraft fees$2,221 $— $— $— $2,221 
Account service charges621 — — — 621 
ATM fees— 412 — — 412 
Other— 186 — — 186 
Business    
Overdraft fees95 — — — 95 
ATM fees— 13 — — 13 
Other— 109 — — 109 
Interchange income— — 3,401 — 3,401 
Asset management revenue— — — 497 497 
Transaction based revenue— — — 341 341 
     
Total$2,937 $720 $3,401 $838 $7,896 
Reconciliation to interim Condensed Consolidated Statement of Operations:
Non-interest income - other:
Other deposit related income$720 
Investment and insurance commissions838 
Bank owned life insurance (1) 188 
Other (1) 971 
Total$2,717 
(1)Excluded from the scope of ASC Topic 606.
Service
Charges
on Deposit
Accounts		Other
Deposit
Related
Income		Interchange
Income		Investment
and
Insurance
Commissions		Total
Six months ending June 30, 2025(In thousands)
Retail
Overdraft fees$4,301 $— $— $— $4,301 
Account service charges1,266 — — — 1,266 
ATM fees— 756 — — 756 
Other— 353 — — 353 
Business    
Overdraft fees228 — — — 228 
ATM fees— 22 — — 22 
Other— 214 — — 214 
Interchange income— — 6,517 — 6,517 
Asset management revenue— — — 801 801 
Transaction based revenue— — — 763 763 
     
Total$5,795 $1,345 $6,517 $1,564 $15,221 
     
Reconciliation to interim Condensed Consolidated Statement of Operations:
  
Non-interest income - other:     
Other deposit related income    $1,345 
Investment and insurance commissions   1,564 
Bank owned life insurance (1)    593 
Other (1)
    2,466 
Total    $5,968 
(1)Excluded from the scope of ASC Topic 606.
Service
Charges
on Deposit
Accounts		Other
Deposit
Related
Income		Interchange
Income		Investment
and
Insurance
Commissions		Total
Six months ending June 30, 2024(In thousands)
Retail
Overdraft fees$4,410 $— $— $— $4,410 
Account service charges1,194 — — — 1,194 
ATM fees— 795 — — 795 
Other— 436 — — 436 
Business    
Overdraft fees205 — — — 205 
ATM fees— 24 — — 24 
Other— 213 — — 213 
Interchange income— — 6,552 — 6,552 
Asset management revenue— — — 990 990 
Transaction based revenue— — — 652 652 
     
Total$5,809 $1,468 $6,552 $1,642 $15,471 
     
Reconciliation to interim Condensed Consolidated Statement of Operations:
  
Non-interest income - other:     
Other deposit related income    $1,468 
Investment and insurance commissions   1,642 
Bank owned life insurance (1)    369 
Other (1)
    1,956 
Total    $5,435 
(1)Excluded from the scope of ASC Topic 606.