XML 12 R3.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Condensed Consolidated Statements of Income (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Gains from mortgage banking activities $ 31,289 $ 21,173 $ 48,116 $ 46,213
Servicing fees 8,047 6,561 15,760 12,780
Net warehouse interest income 1,059 1,606 1,776 2,173
Escrow earnings and other interest income 403 619 773 1,114
Other 1,608 719 4,978 1,335
Total revenues 42,406 30,678 71,403 63,615
Expenses        
Personnel 12,863 8,064 22,070 23,413
Amortization and depreciation 5,084 4,719 9,991 8,163
Provision for risk-sharing obligations 1,764 2,656 2,510 2,580
Interest expense on corporate debt 214 344 466 697
Other operating expenses 4,263 3,167 7,283 6,293
Total expenses 24,188 18,950 42,320 41,146
Income from operations 18,218 11,728 29,083 22,469
Income tax expense 7,087   11,313  
Net income 11,131 11,728 17,770 22,469
Basic and diluted earnings per share (in dollars per share) $ 0.51 $ 0.80 $ 0.82 $ 1.52
Basic weighted average shares outstanding (in shares) 21,629,463 14,741,504 21,606,233 14,741,504
Diluted weighted average shares outstanding (in shares) 21,742,912 14,741,504 21,695,826 14,741,504
Pro forma net income data        
Income from operations, as reported 18,218 11,728 29,083 22,469
Pro forma adjustments for income tax expense   4,562   8,740
Pro forma net income   $ 7,166   $ 13,729
Pro forma basic earnings per share (in dollars per share)   $ 0.49   $ 0.93
Pro forma diluted earnings per share (in dollars per share)   $ 0.49   $ 0.93