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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Revenues $ 101,443 $ 95,584 $ 323,121 $ 294,862
Expenses        
Employee compensation and benefits 26,282 25,485 81,315 78,088
Depreciation and amortization 6,173 4,583 17,232 14,066
Technology and communications 5,879 5,035 17,451 14,442
Professional and consulting fees 5,685 5,547 16,168 13,912
Occupancy 3,528 1,795 10,332 4,621
Marketing and advertising 2,980 2,089 8,580 6,757
Clearing costs 1,760 1,476 5,497 4,320
General and administrative 2,744 2,939 7,927 7,878
Total expenses 55,031 48,949 164,502 144,084
Operating income 46,412 46,635 158,619 150,778
Other income (expense)        
Investment income 1,635 964 4,186 2,551
Other, net (250) (382) (785) (932)
Total other income 1,385 582 3,401 1,619
Income before income taxes 47,797 47,217 162,020 152,397
Provision for income taxes 9,203 13,087 34,999 37,781
Net income $ 38,594 $ 34,130 $ 127,021 $ 114,616
Net income per common share        
Basic $ 1.04 $ 0.93 $ 3.44 $ 3.11
Diluted 1.02 0.90 3.36 3.01
Cash dividends declared per common share $ 0.42 $ 0.33 $ 1.26 $ 0.99
Weighted average shares outstanding        
Basic 36,951 36,865 36,952 36,856
Diluted 37,828 38,019 37,859 38,069
Commissions [Member]        
Revenues        
Revenues $ 90,513 $ 86,270 $ 289,398 $ 267,307
Information Services [Member]        
Revenues        
Revenues 7,174 6,331 21,170 19,013
Post-trade Services [Member]        
Revenues        
Revenues 3,475 2,678 11,671 7,623
Other [Member]        
Revenues        
Revenues $ 281 $ 305 $ 882 $ 919