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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Advisory fees:        
Asset-based $ 22,023,000 $ 25,334,000 $ 69,979,000 $ 73,619,000
Performance-based 0 0 2,984,000 1,417,000
Trust fees 7,191,000 7,858,000 22,265,000 23,570,000
Other, net 640,000 300,000 953,000 1,265,000
Total revenues 29,854,000 33,492,000 96,181,000 99,871,000
EXPENSES:        
Employee compensation and benefits 14,444,000 15,601,000 46,857,000 48,875,000
Sales and marketing 549,000 457,000 1,401,000 1,447,000
Westwood mutual funds 979,000 977,000 2,966,000 2,749,000
Information technology 2,332,000 1,855,000 6,753,000 5,494,000
Professional services 1,372,000 1,681,000 3,677,000 4,495,000
Legal settlement expense 0 4,009,000 0 4,009,000
General and administrative 3,027,000 3,160,000 6,477,000 8,697,000
Total expenses 22,703,000 27,740,000 68,131,000 75,766,000
Operating Income (Loss) 7,151,000 5,752,000 28,050,000 24,105,000
Gain on sale of operations 0 0 524,000 0
Income before income taxes 7,151,000 5,752,000 28,574,000 24,105,000
Provision for income taxes 1,783,000 1,620,000 7,236,000 7,013,000
Net income 5,368,000 4,132,000 21,338,000 17,092,000
Other comprehensive income (loss):        
Foreign currency translation adjustments 616,000 1,297,000 (1,062,000) 2,438,000
Total comprehensive income $ 5,984,000 $ 5,429,000 $ 20,276,000 $ 19,530,000
Earnings per share:        
Basic (dollars per share) $ 0.64 $ 0.51 $ 2.55 $ 2.10
Diluted (dollars per share) $ 0.62 $ 0.49 $ 2.49 $ 2.05
Weighted average shares outstanding:        
Basic (shares) 8,402,697 8,171,809 8,359,088 8,136,350
Diluted (shares) 8,598,230 8,420,749 8,561,918 8,350,926
Cash dividends declared per share (dollars per share) $ 0.68 $ 0.62 $ 2.04 $ 1.86