Note 23: Segment Information

The Company’s 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 for the years ended December 31, 2017, 2016 and 2015.


	Multi-family
	Mortgage		Mortgage
	Banking		Warehousing		Banking		Other		Total
	(In thousands)
Year Ended December 31, 2017
Total interest income	$	414	$	48,798	$	44,454	$	721	$	94,387
Total interest expense		—		13,673		14,853		(736)		27,790
Net interest income		414		35,125		29,601		1,457		66,597
Provision for loan losses		—		452		2,020		—		2,472
Net interest income after provision for loan losses		414		34,673		27,581		1,457		64,125
Total noninterest income		43,715		2,836		1,943		(814)		47,680
Noninterest expense		10,911		7,710		9,835		6,188		34,644
Income before income taxes		33,218		29,799		19,689		(5,545)		77,161
Income taxes		4,557		11,558		8,279		(1,917)		22,477
Net income	$	28,661	$	18,241	$	11,410	$	(3,628)	$	54,684
Total assets	$	134,390	$	1,352,748	$	1,889,140	$	16,855	$	3,393,133


	Multi-family
	Mortgage		Mortgage
	Banking		Warehousing		Banking			Other				Total
	(In thousands)
Year Ended December 31, 2016
Total interest income	$	237	$	43,352		$	29,350		$	—	$		72,939
Total interest expense		—		11,235			6,546			1,187			18,968
Net interest income		237		32,117			22,804			(1,187)			53,971
Provision for loan losses		—		(247)			1,207			—			960
Net interest income after provision for loan losses		237		32,364			21,597			(1,187)			53,011
Total noninterest income		22,798		3,220			2,486			—			28,504
Noninterest expense		7,474		7,730			8,383			3,133			26,720
Income before income taxes		15,561		27,854			15,700			(4,320)			54,795
Income taxes		6,153		11,015			6,208			(1,708)			21,668
Net income	$	9,408	$	16,839		$	9,492		$	(2,612)	$		33,127
Total assets	$	98,553	$	1,060,723		$	1,545,783		$	13,453	$		2,718,512


	Multi-family
	Mortgage		Mortgage
	Banking		Warehousing		Banking		Other			Total
	(In thousands)
Year Ended December 31, 2015
Total interest income	$	309	$	36,830	$	19,206	$	—	$	56,345
Interest Expense
Total interest expense		—		9,606		3,491		1,193		14,290
Net interest income		309		27,224		15,715		(1,193)		42,055
Provision for loan losses		—		(47)		1,007		—		960
Net interest income after provision for loan losses		309		27,271		14,708		(1,193)		41,095
Total noninterest income		24,749		1,193		1,066		—		27,008
Noninterest expense		6,312		5,703		7,013		1,894		20,922
Income before income taxes		18,746		22,761		8,761		(3,087)		47,181
Income taxes		7,469		9,068		3,491		(1,230)		18,798
Net income	$	11,277	$	13,693	$	5,270	$	(1,857)	$	28,383
Total assets	$	87,188	$	924,731	$	1,253,402	$	4,121	$	2,269,442