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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues      
Gains from mortgage banking activities $ 186,543 $ 102,712 $ 85,203
Servicing fees 52,207 33,581 27,024
Net warehouse interest income 4,668 4,198 3,586
Escrow earnings and other interest income 2,965 1,474 2,056
Other 10,387 10,385 3,965
Total revenues 256,770 152,350 121,834
Expenses      
Personnel 109,037 51,162 42,459
Amortization and depreciation 38,673 22,444 16,827
Amortization of intangible assets 15,252 70 132
Provision for risk-sharing obligations 3,140 4,724 7,469
Interest expense on corporate debt 1,649 823 1,334
Other operating expenses 33,249 16,466 13,471
Total expenses 201,000 95,689 81,692
Income from operations before income taxes 55,770 56,661 40,142
Income tax expense 21,998 21,797 31,915
Net income 33,772 34,864 8,227
Basic earnings per share (in dollars per share) $ 1.32 $ 1.61 $ 0.55
Diluted earnings per share (in dollars per share) $ 1.31 $ 1.60 $ 0.55
Basic weighted average shares outstanding (in shares) 25,545,028 21,621,534 15,033,741
Diluted weighted average shares outstanding (in shares) 25,845,015 21,747,672 15,036,411
Pro forma net income data (unaudited)      
Income from operations, as reported     40,142
Pro forma adjustments for income tax expense     15,535
Pro forma net income     $ 24,607
Pro forma basic earnings per share (in dollars per share)     $ 1.64
Pro forma diluted earnings per share (in dollars per share)     $ 1.64