Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following is a summary of the assets and liabilities of OMHHF as of June 30, 2016 and December 31, 2015:

(Expressed in thousands)
	June 30, 2016		December 31, 2015
ASSETS
Securities owned	$	562	$	562
Loans held for sale	1,743		60,234
Mortgage servicing rights	1,993		28,168
Other assets	17,466		10,917
Total assets	$	21,764	$	99,881
LIABILITIES
Accounts payable and other liabilities	$	35,689	$	64,124
Deferred tax liability	801		10,556
Total liabilities	$	36,490	$	74,680

The following is a summary of revenue and expenses of OMHHF for the three and six months ended June 30, 2016 and 2015:

(Expressed in thousands)
	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
REVENUE
Interest	$	472		$	717		$	809		$	1,049
Principal transactions, net	(1,541		)	(1,831		)	(6,628		)	8,226
Gain on sale of assets	14,916			—			14,916			—
Other	4,070			12,082			12,558			10,079
Total revenue	17,917			10,968			21,655			19,354
EXPENSES
Compensation and related expenses	735			4,409			3,652			6,676
Communications and technology	59			100			161			196
Occupancy and equipment costs	286			74			362			150
Interest	159			399			380			540
Other	1,312			2,255			2,391			4,024
Total expenses	2,551			7,237			6,946			11,586
Income before income taxes	$	15,366		$	3,731		$	14,709		$	7,768
Income attributable to noncontrolling interest before income taxes	$	2,508		$	609		$	2,401		$	1,268

The following is a summary of cash flows of OMHHF for the three and six months ended June 30, 2016 and 2015:

(Expressed in thousands)
	For the Six Months Ended June 30,
	2016			2015
Cash provided by operating activities	$	5,624		$	1,960
Cash provided by investing activities	43,252			—
Cash used in financing activities	(124		)	(124		)
Net increase in cash and cash equivalents	$	48,752		$	1,836