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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues        
Advisory revenues $ 91,669 $ 46,983 $ 204,111 $ 211,496
Investment revenues (losses) 324 (2,440) (5,526) (672)
Total revenues 91,993 44,543 198,585 210,824
Expenses        
Employee compensation and benefits 45,996 27,073 109,974 115,202
Occupancy and equipment rental 4,956 4,672 14,088 13,322
Depreciation and amortization 804 861 2,447 3,612
Information services 2,419 2,042 6,618 6,020
Professional fees 1,453 1,297 4,078 4,050
Travel related expenses 2,225 2,879 8,534 9,360
Interest expense 402 241 978 769
Other operating expenses 3,106 2,529 8,348 8,453
Total expenses 61,361 41,594 155,065 160,788
Income before taxes 30,632 2,949 43,520 50,036
Provision for taxes 10,759 1,152 15,355 19,134
Consolidated net income 19,873 1,797 28,165 30,902
Less: Net income allocated to noncontrolling interests 0 0 0 0
Net income allocated to common stockholders $ 19,873 $ 1,797 $ 28,165 $ 30,902
Average shares outstanding:        
Basic (shares) 30,046,450 29,792,997 30,326,050 30,094,986
Diluted (shares) 30,048,128 29,805,553 30,338,516 30,122,352
Earnings per share:        
Basic (usd per share) $ 0.66 $ 0.06 $ 0.93 $ 1.03
Diluted (usd per share) $ 0.66 $ 0.06 $ 0.93 $ 1.03
Dividends declared and paid per share (usd per share) $ 0.45 $ 0.45 $ 1.35 $ 1.35