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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Revenues $ 131,597 $ 101,443 $ 381,578 $ 323,121
Expenses        
Employee compensation and benefits 32,681 26,282 97,962 81,315
Depreciation and amortization 6,700 6,173 19,127 17,232
Technology and communications 7,381 5,879 19,637 17,451
Professional and consulting fees 7,018 5,685 19,145 16,168
Occupancy 2,802 3,528 8,549 10,332
Marketing and advertising 2,506 2,980 8,472 8,580
Clearing costs 2,782 1,760 7,969 5,497
General and administrative 3,762 2,744 10,686 7,927
Total expenses 65,632 55,031 191,547 164,502
Operating income 65,965 46,412 190,031 158,619
Other income (expense)        
Investment income 2,211 1,635 6,296 4,186
Other, net (838) (250) (860) (785)
Total other income 1,373 1,385 5,436 3,401
Income before income taxes 67,338 47,797 195,467 162,020
Provision for income taxes 13,336 9,203 40,838 34,999
Net income $ 54,002 $ 38,594 $ 154,629 $ 127,021
Net income per common share        
Basic $ 1.46 $ 1.04 $ 4.17 $ 3.44
Diluted 1.42 1.02 4.08 3.36
Cash dividends declared per common share $ 0.51 $ 0.42 $ 1.53 $ 1.26
Weighted average shares outstanding        
Basic 37,066 36,951 37,053 36,952
Diluted 37,995 37,828 37,913 37,859
Commissions [Member]        
Revenues        
Revenues $ 119,869 $ 90,513 $ 346,753 $ 289,398
Information Services [Member]        
Revenues        
Revenues 7,693 7,174 22,215 21,170
Post-trade Services [Member]        
Revenues        
Revenues 3,784 3,475 11,840 11,671
Other [Member]        
Revenues        
Revenues $ 251 $ 281 $ 770 $ 882