Revenue
Revenue from Contracts with Customers (Topic 606) is applicable to noninterest revenue streams such as deposit related fees, interchange fees, merchant income, and various other service fees. Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, and certain credit card fees are also not in scope of the guidance.
The table below presents the Company's sources of noninterest income, segregated by in-scope and out-of-scope revenue streams of Topic 606 for the periods indicated:
| | | | | | | | | | | | | | | | | | | | |
| | Year Ended June 30, |
| | 2021 | | 2020 | | 2019 |
| In-scope of Topic 606: | | | | | | |
| Service charges on deposit accounts | | $ | 2,785 | | | $ | 3,772 | | | $ | 3,978 | |
| Fees, interchange, and other service charges | | 7,013 | | | 6,332 | | | 6,377 | |
| Other | | 576 | | | 470 | | | 775 | |
| Noninterest income (in-scope of Topic 606) | | 10,374 | | | 10,574 | | | 11,130 | |
| Noninterest income (out-of-scope of Topic 606) | | 29,447 | | | 19,758 | | | 11,810 | |
| Total noninterest income | | $ | 39,821 | | | $ | 30,332 | | | $ | 22,940 | |
The following is a description of revenue streams accounted for under Topic 606:
Service charges on deposit accounts
Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, nonsufficient fund fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Nonsufficient fund fees, check orders and other deposit account related fees are largely transactional based, and therefore, the Company’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.
Fees, interchange, and other service charges
Fees, interchange, and other service charges are primarily comprised of debit and credit card income, ATM fees, merchant services income, and other service charges. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Other service charges include revenue from processing wire transfers, cashier’s checks, and other services. The Company’s performance obligation for fees, interchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month.
Other
Other noninterest income consists of safety deposit box rental fees and other miscellaneous revenue streams. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation.