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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Gains from mortgage banking activities $ 100,630 $ 70,810 $ 249,406 $ 213,480
Servicing fees 37,134 29,328 101,554 84,227
Net warehouse interest income 5,614 6,860 15,925 17,824
Escrow earnings and other interest income 2,630 1,166 6,225 3,123
Other 8,778 12,622 23,775 28,179
Total revenues 154,786 120,786 396,885 346,833
Expenses        
Personnel 64,377 49,328 154,365 135,366
Amortization and depreciation 29,244 25,644 80,824 73,788
Provision for credit losses 283 94 166 576
Interest expense on corporate debt 2,485 2,484 7,419 7,433
Other operating expenses 9,685 9,790 29,511 28,176
Total expenses 106,074 87,340 272,285 245,339
Income from operations 48,712 33,446 124,600 101,494
Income tax expense 18,851 12,735 47,295 39,179
Net income before noncontrolling interests 29,861 20,711 77,305 62,315
Less: net income from noncontrolling interests 233 460 198 598
Walker & Dunlop net income $ 29,628 $ 20,251 $ 77,107 $ 61,717
Basic earnings per share $ 1.01 $ 0.69 $ 2.62 $ 2.06
Diluted earnings per share $ 0.96 $ 0.66 $ 2.51 $ 1.99
Basic weighted average shares outstanding 29,374 29,165 29,417 29,904
Diluted weighted average shares outstanding 30,793 30,460 30,743 31,045