Note 8: Segment Information

Our business segments are defined as Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The reportable business segments are consistent with the internal reporting and evaluation of the principal lines of business of the Company. The Multi-family Mortgage Banking segment originates and services government sponsored mortgages for multi-family and healthcare facilities. The Mortgage Warehousing segment funds agency eligible residential loans from origination or purchase to sale in the secondary market, as well as commercial loans to non-depository financial institutions. The Banking segment provides a wide range of financial products and services to consumers and businesses, including commercial, commercial real estate, mortgage and other consumer loan products; letters of credit; various types of deposit products, including checking, savings and time deposit accounts. Other includes general and administrative expenses that provide services to all segments; internal funds transfer pricing offsets resulting from allocations to/from the other segments; certain elimination entries and investments in qualified affordable housing limited partnerships. All operations are domestic.

The tables below present selected business segment financial information as of and for the three and nine months ended September 30, 2017 and 2016.


	Multi-family
	Mortgage		Mortgage
	Banking		Warehousing		Banking		Other		Total
	(In thousands)
Three Months Ended September 30, 2017
Total interest income	$	101	$	13,795	$	12,110	$	—	$	26,006
Total interest expense		—		3,657		4,102		(143)		7,616
Net interest income		101		10,138		8,008		143		18,390
Provision for loan losses		—		(155)		747		—		592
Net interest income after provision for loan losses		101		10,293		7,261		143		17,798
Total noninterest income		6,636		776		644		—		8,056
Noninterest expense		2,713		2,109		2,510		1,610		8,942
Income before income taxes		4,024		8,960		5,395		(1,467)		16,912
Income taxes		1,534		3,414		2,056		(559)		6,445
Net income	$	2,490	$	5,546	$	3,339	$	(908)	$	10,467
Total assets	$	135,530	$	1,192,377	$	1,964,083	$	(54,505)	$	3,237,485


	Multi-family
	Mortgage		Mortgage
	Banking		Warehousing		Banking		Other		Total
	(In thousands)
Three Months Ended September 30, 2016
Total interest income	$	117	$	11,832	$	7,878	$	—	$	19,827
Total interest expense		—		2,719		1,820		318		4,857
Net interest income		117		9,113		6,058		(318)		14,970
Provision for loan losses		—		(61)		301		—		240
Net interest income after provision for loan losses		117		9,174		5,757		(318)		14,730
Total noninterest income		9,520		890		1,219		—		11,629
Noninterest expense		2,012		2,042		2,457		662		7,173
Income before income taxes		7,625		8,022		4,519		(980)		19,186
Income taxes		3,015		3,173		1,788		(389)		7,587
Net income	$	4,610	$	4,849	$	2,731	$	(591)	$	11,599
Total assets	$	100,272	$	1,368,927	$	1,626,377	$	(20,478)	$	3,075,098


	Multi-family
	Mortgage		Mortgage
	Banking		Warehousing		Banking		Other		Total
	(In thousands)
Nine Months Ended September 30, 2017

Total interest income	$	280	$	36,307	$	30,890	$	—	$	67,477
Total interest expense		—		9,738		10,444		(350)		19,832
Net interest income		280		26,569		20,446		350		47,645
Provision for loan losses		—		250		822		—		1,072
Net interest income after provision for loan losses		280		26,319		19,624		350		46,573
Total noninterest income		29,084		2,079		1,610		—		32,773
Noninterest expense		7,085		5,839		7,028		3,892		23,844
Income before income taxes		22,279		22,559		14,206		(3,542)		55,502
Income taxes		8,489		8,595		5,413		(1,350)		21,147
Net income	$	13,790	$	13,964	$	8,793	$	(2,192)	$	34,355
Total assets	$	135,530	$	1,192,377	$	1,964,083	$	(54,505)	$	3,237,485


	Multi-family
	Mortgage		Mortgage
	Banking		Warehousing		Banking		Other			Total
	(In thousands)
Nine Months Ended September 30, 2016
Total interest income	$	182	$	31,223	$	20,843	$	—	$	52,248
Total interest expense		—		7,936		4,476		1,047		13,459
Net interest income		182		23,287		16,367		(1,047)		38,789
Provision for loan losses		—		225		495		—		720
Net interest income after provision for loan losses		182		23,062		15,872		(1,047)		38,069
Total noninterest income		17,410		2,068		2,102		—		21,580
Noninterest expense		5,149		5,523		6,339		2,325		19,336
Income before income taxes		12,443		19,607		11,635		(3,372)		40,313
Income taxes		4,920		7,753		4,601		(1,334)		15,940
Net income	$	7,523	$	11,854	$	7,034	$	(2,038)	$	24,373
Total assets	$	100,272	$	1,368,927	$	1,626,377	$	(20,478)	$	3,075,098