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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Gains from mortgage banking activities $ 106,881 $ 102,237 $ 205,616 $ 183,746
Servicing fees 53,006 49,317 105,205 97,357
Net warehouse interest income 6,411 2,392 13,432 4,249
Escrow earnings and other interest income 14,616 9,276 28,684 16,624
Other 19,411 14,982 34,825 23,680
Total revenues 200,325 178,204 387,762 325,656
Expenses        
Personnel 84,398 71,426 156,029 126,699
Amortization and depreciation 37,381 35,489 75,284 69,124
Provision for credit losses 961 800 3,636 323
Interest expense on corporate debt 3,777 2,343 7,429 4,522
Other operating expenses 16,830 15,176 32,322 28,127
Total expenses 143,347 125,234 274,700 228,795
Income from operations 56,978 52,970 113,062 96,861
Income tax expense 14,832 11,937 26,856 19,121
Net income before noncontrolling interests 42,146 41,033 86,206 77,740
Less: net income (loss) from noncontrolling interests (50) (79) (208) (233)
Walker and Dunlop net income 42,196 41,112 86,414 77,973
Other comprehensive income (loss), net of tax:        
Net change in unrealized gains and losses on pledged available-for-sale securities 666 (53) 967 (180)
Walker and Dunlop comprehensive income $ 42,862 $ 41,059 $ 87,381 $ 77,793
Basic earnings per share (NOTE 11) $ 1.36 $ 1.31 $ 2.80 $ 2.49
Diluted earnings per share (NOTE 11) $ 1.33 $ 1.26 $ 2.72 $ 2.40
Basic weighted average shares outstanding 29,985 30,256 29,834 30,139
Diluted weighted average shares outstanding 30,744 31,495 30,720 31,286