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Consolidated and Combined Statements of Operations (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Consolidated and Combined Statements of Operations        
Agency fee income $ 1,569 $ 2,439 $ 5,627 $ 7,717
Interest Income 2,722 5,958 4,742 11,541
Origination fee income 1,824 5,592 4,105 12,891
Realized gain on sale of structured settlements 2,049 3,263 3,217 3,263
Realized gain on sale of life settlements 5 474 5 474
Gain on forgiveness of debt 2,139 2,768 4,682 4,533
Unrealized change in fair value of life settlements 17,687 1 28,885 (201)
Unrealized change in fair value of structured settlements 375   1,217  
Servicing fee income 567   1,071  
Other income 274 130 520 153
Total income 29,211 20,625 54,071 40,371
Interest expense 2,542 6,061 5,481 13,043
Interest expense - related parties   2,365 290 4,352
Provision for losses on loans receivable 21 (257) 129 3,019
Loss on loan payoffs and settlements, net 1,095 1,844 3,666 3,313
Amortization of deferred costs 1,597 5,786 3,504 11,633
Selling, general and administrative expenses 10,168 6,700 19,701 14,159
Selling, general and administrative - related parties   221 86 434
Total expenses 15,423 22,720 32,857 49,953
Income (loss) before income taxes 13,788 (2,095) 21,214 (9,582)
Provision for income taxes 1,183   9,179  
Net income (loss) $ 12,605 $ (2,095) $ 12,035 $ (9,582)
Earnings (loss) per share:        
Basic $ 0.59 $ (0.58) $ 0.69 $ (2.66)
Diluted $ 0.59 $ (0.58) $ 0.69 $ (2.66)
Weighted average shares outstanding:        
Basic 21,202,614 3,600,000 17,373,589 3,600,000
Diluted 21,206,121 3,600,000 17,377,096 3,600,000