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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Advisory fees        
Asset based $ 27,458 $ 22,095 $ 51,387 $ 42,484
Performance based 1,918 3,443 2,206 3,806
Trust fees 7,921 5,151 13,071 10,179
Other, net 14 216 255 385
Total revenues 37,311 30,905 66,919 56,854
EXPENSES:        
Employee compensation and benefits 16,512 12,865 31,821 25,717
Sales and marketing 496 375 891 662
Westwood mutual funds 901 722 1,728 1,374
Information technology 1,422 1,014 2,459 1,729
Professional services 1,031 1,189 3,103 2,571
General and administrative 2,197 1,384 3,787 2,832
Total expenses 22,559 17,549 43,789 34,885
Income before income taxes 14,752 13,356 23,130 21,969
Provision for income taxes 4,957 4,765 7,725 7,816
Net income 9,795 8,591 15,405 14,153
Other comprehensive income (loss):        
Foreign currency translation adjustments 233 332 (1,155) (22)
Total comprehensive income $ 10,028 $ 8,923 $ 14,250 $ 14,131
Earnings per share:        
Basic (dollars per share) $ 1.25 $ 1.14 $ 2.00 $ 1.89
Diluted (dollars per share) $ 1.23 $ 1.12 $ 1.93 $ 1.82
Weighted average shares outstanding:        
Basic (shares) 7,806,031 7,523,347 7,701,707 7,499,016
Diluted (shares) 7,961,406 7,679,032 7,976,790 7,774,410
Cash dividends declared per share (dollars per share) $ 0.50 $ 0.44 $ 1.00 $ 0.88