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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Revenues $ 125,490 $ 106,964 $ 249,981 $ 221,678
Expenses        
Employee compensation and benefits 32,623 26,199 65,281 55,033
Depreciation and amortization 6,345 5,790 12,427 11,059
Technology and communications 6,474 5,793 12,256 11,572
Professional and consulting fees 6,296 5,426 12,127 10,483
Occupancy 2,798 3,467 5,747 6,804
Marketing and advertising 3,667 3,535 5,966 5,600
Clearing costs 2,610 2,012 5,187 3,737
General and administrative 3,800 2,708 6,924 5,183
Total expenses 64,613 54,930 125,915 109,471
Operating income 60,877 52,034 124,066 112,207
Other income (expense)        
Investment income 2,096 1,383 4,085 2,551
Other, net (64) (207) (22) (535)
Total other income 2,032 1,176 4,063 2,016
Income before income taxes 62,909 53,210 128,129 114,223
Provision for income taxes 14,804 12,723 27,502 25,796
Net income $ 48,105 $ 40,487 $ 100,627 $ 88,427
Net income per common share        
Basic $ 1.30 $ 1.10 $ 2.72 $ 2.39
Diluted 1.27 1.07 2.66 2.33
Cash dividends declared per common share $ 0.51 $ 0.42 $ 1.02 $ 0.84
Weighted average shares outstanding        
Basic 37,049 36,950 37,046 36,952
Diluted 37,910 37,862 37,871 37,874
Commissions [Member]        
Revenues        
Revenues $ 114,124 $ 96,113 $ 226,884 $ 198,885
Information Services [Member]        
Revenues        
Revenues 7,156 6,930 14,522 13,996
Post-trade Services [Member]        
Revenues        
Revenues 3,956 3,620 8,056 8,196
Other [Member]        
Revenues        
Revenues $ 254 $ 301 $ 519 $ 601