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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Advisory fees:        
Asset-based $ 25,334 $ 23,447 $ 73,619 $ 67,928
Performance-based 0 226 1,417 635
Trust fees 7,858 7,690 23,570 22,798
Other, net 300 414 1,265 568
Total revenues 33,492 31,777 99,871 91,929
EXPENSES:        
Employee compensation and benefits 15,601 15,637 48,875 47,239
Sales and marketing 457 408 1,447 1,423
Westwood mutual funds 977 755 2,749 2,282
Information technology 1,855 1,874 5,494 6,039
Professional services 1,681 1,903 4,495 4,707
Legal settlement expense 4,009 0 4,009 0
General and administrative 3,160 2,147 8,697 7,028
Total expenses 27,740 22,724 75,766 68,718
Income before income taxes 5,752 9,053 24,105 23,211
Provision for income taxes 1,620 3,166 7,013 8,141
Net income 4,132 5,887 17,092 15,070
Other comprehensive income (loss):        
Foreign currency translation adjustments 1,297 (453) 2,438 1,007
Total comprehensive income $ 5,429 $ 5,434 $ 19,530 $ 16,077
Earnings per share:        
Basic (dollars per share) $ 0.51 $ 0.74 $ 2.10 $ 1.89
Diluted (dollars per share) $ 0.49 $ 0.72 $ 2.05 $ 1.84
Weighted average shares outstanding:        
Basic (shares) 8,171,809 7,995,680 8,136,350 7,952,938
Diluted (shares) 8,420,749 8,179,956 8,350,926 8,212,468
Cash dividends declared per share (dollars per share) $ 0.62 $ 0.57 $ 1.86 $ 1.71