REVENUE RECOGNITION
The Company has disaggregated its revenue from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The following table presents the revenue streams that the Company has disaggregated for the periods indicated:
| | | | | | | | | | | | | | | | | |
| Years Ended December 31 |
| 2025 | | 2024 | | 2023 |
| (Dollars in thousands) |
| Deposit account fees (inclusive of cash management fees) | $ | 32,141 | | | $ | 26,455 | | | $ | 23,486 | |
| Interchange fees | 13,977 | | | 12,513 | | | 11,865 | |
| ATM fees | 4,563 | | | 4,568 | | | 4,243 | |
| Investment management - wealth management and advisory services | 44,989 | | | 38,311 | | | 34,588 | |
| Investment management - retail investments and insurance revenue | 5,056 | | | 4,433 | | | 5,603 | |
| Payment processing income | 2,142 | | | 1,848 | | | 1,675 | |
| Credit card income | 2,843 | | | 2,341 | | | 2,119 | |
| Other non-interest income | 7,688 | | | 5,343 | | | 5,684 | |
| Total non-interest income in-scope of ASC 606 | 113,399 | | | 95,812 | | | 89,263 | |
| Total non-interest income out-of-scope of ASC 606 | 35,290 | | | 32,202 | | | 35,346 | |
| Total non-interest income | $ | 148,689 | | | $ | 128,014 | | | $ | 124,609 | |
In each of the revenue streams identified above, there were no significant judgments made in determining or allocating the transaction price, as the consideration and service requirements are generally explicitly identified in the associated contracts.
The following table provides the amount of investment management revenue earned but not received as of the dates indicated:
| | | | | | | | | | | |
| December 31, 2025 | | December 31, 2024 |
| (Dollars in thousands) |
| Receivables, included in other assets | $ | 7,884 | | | $ | 5,968 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.