REVENUE |
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| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| REVENUE |
REVENUE
The majority of the Company’s noninterest income comes from short term contracts associated with fees for services provided on deposit accounts, credit cards, and wealth management accounts and is being accounted for in accordance with ASU No. 2014-09, “Revenue from Contracts with Customers: Topic 606." Typically, the duration of a contract does not extend beyond the services performed; therefore, the Company concluded that discussion regarding contract balances is immaterial.
The Company’s performance obligations on revenue from interchange fees and deposit accounts are generally satisfied immediately, when the transaction occurs or by month-end. Performance obligations on revenue from fiduciary and asset management fees are generally satisfied monthly or quarterly. For a majority of fee income on deposit accounts the Company is a principal controlling the promised good or service before transferring it to the customer. However, for income related to most wealth management income, the Company is an agent responsible for arranging for the provision of goods and services by another party.
Noninterest income disaggregated by major source, for the three months ended March 31, 2019 and 2018, consisted of the following (dollars in thousands):
(1) Income within scope of Topic 606.
(2) Includes income within the scope of Topic 606 of $813,000 and $706,000 for the three months ended March 31, 2019 and 2018, respectively. The remaining balance is outside the scope of Topic 606.
(3) Noninterest income for the discontinued mortgage segment is reported in Note 14, "Segment Reporting & Discontinued Operations."
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