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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues        
Gains from mortgage banking activities $ 102,453 $ 69,950 $ 148,776 $ 142,670
Servicing fees 32,771 28,058 64,420 54,899
Net warehouse interest income 3,580 6,610 10,311 10,964
Escrow earnings and other interest income 1,955 1,170 3,595 1,957
Other 7,099 8,138 14,997 15,557
Total revenues 147,858 113,926 242,099 226,047
Expenses        
Personnel 55,758 45,993 89,988 86,038
Amortization and depreciation 26,425 23,470 51,580 48,144
Provision (benefit) for credit losses 292 398 (117) 482
Interest expense on corporate debt 2,465 2,472 4,934 4,949
Other operating expenses 11,212 8,951 19,826 18,386
Total expenses 96,152 81,284 166,211 157,999
Income from operations 51,706 32,642 75,888 68,048
Income tax expense 19,595 12,351 28,444 26,444
Net income before noncontrolling interests 32,111 20,291 47,444 41,604
Less: Net income (loss) from noncontrolling interests 90 138 (35) 138
Walker & Dunlop net income $ 32,021 $ 20,153 $ 47,479 $ 41,466
Basic earnings per share $ 1.09 $ 0.69 $ 1.61 $ 1.37
Diluted earnings per share $ 1.05 $ 0.67 $ 1.55 $ 1.32
Basic weighted average shares outstanding 29,388 29,057 29,438 30,279
Diluted weighted average shares outstanding 30,627 30,239 30,714 31,344