Deputy Seminar, Denver, CO

ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

Step 2: Identify performance obligations

Step 4: Allocate transaction price

Step 1: Identify contract with customer

Step 3: Determine transaction price

Step 5: Recognize revenue

ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

Scope – Bank Non-Interest Income:

• Sales of Non-operating assets (such as OREO) - Yes • Deposit Service Charges – Yes • Fiduciary Income – Yes • Wire Fees – Yes • Interchange Fees – Yes • Investment Brokerage - Yes • Servicing Fees – No – follow Topic 860, Transfers & Servicing • Guarantee Fees – No – follow Topic 460, Guarantees or Topic 815, Derivatives & Hedging