Note 9: 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 retail banking, commercial lending, agricultural lending, retail and correspondent residential mortgage banking, and Small Business Administration (“SBA”) lending. 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 three and nine months ended September 30, 2018 and 2017.


	Multi-family
	Mortgage		Mortgage
	Banking		Warehousing		Banking		Other		Total
	(In thousands)
Three Months Ended September 30, 2018
Total interest income	$	201	$	16,335	$	20,341	$	700	$	37,577
Total interest expense		—		7,289		7,835		(1,029)		14,095
Net interest income		201		9,046		12,506		1,729		23,482
Provision for loan losses		—		227		390		—		617
Net interest income after provision for loan losses		201		8,819		12,116		1,729		22,865
Total noninterest income		10,874		779		818		(564)		11,907
Noninterest expense		4,346		1,998		3,740		2,365		12,449
Income before income taxes		6,729		7,600		9,194		(1,200)		22,323
Income taxes		1,866		1,946		2,093		(321)		5,584
Net income (loss)	$	4,863	$	5,654	$	7,101	$	(879)	$	16,739
Total assets	$	152,035	$	1,624,375	$	2,010,485	$	20,054	$	3,806,949


	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 (loss)	$	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)
Nine Months Ended September 30, 2018
Total interest income	$	472	$	42,850	$	56,122	$	1,294	$	100,738
Total interest expense		—		16,499		20,748		(2,305)		34,942
Net interest income		472		26,351		35,374		3,599		65,796
Provision for loan losses		—		1,185		1,836		—		3,021
Net interest income after provision for loan losses		472		25,166		33,538		3,599		62,775
Total noninterest income		32,000		1,949		2,333		(1,432)		34,850
Noninterest expense		11,946		5,919		10,373		6,481		34,719
Income before income taxes		20,526		21,196		25,498		(4,314)		62,906
Income taxes		5,414		5,138		5,932		(1,030)		15,454
Net income	$	15,112	$	16,058	$	19,566	$	(3,284)	$	47,452
Total assets	$	152,035	$	1,624,375	$	2,010,485	$	20,054	$	3,806,949


	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