Discontinued Operations (Tables)

9 Months Ended

Sep. 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 September 30, 2016 and December 31, 2015:

(Expressed in thousands)
	September 30, 2016		December 31, 2015
ASSETS
Securities owned	$	563	$	562
Loans held for sale	—		60,234
Mortgage servicing rights	268		28,168
Other assets	10,917		10,917
Total assets	$	11,748	$	99,881
LIABILITIES
Accounts payable and other liabilities	$	20,605	$	64,124
Deferred tax liability	—		10,556
Total liabilities	$	20,605	$	74,680

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

(Expressed in thousands)
	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2016			2015			2016			2015
REVENUE
Interest	$	112		$	625		$	921		$	1,674
Principal transactions, net	(2,380		)	(5,648		)	(9,008		)	2,579
Gain on sale of assets	—			—			14,916			—
Other	4,073			11,081			16,631			21,160
Total revenue	1,805			6,058			23,460			25,413
EXPENSES
Compensation and related expenses	573			3,432			4,225			10,108
Communications and technology	40			79			201			275
Occupancy and equipment costs	37			75			399			225
Interest	28			313			408			853
Other	239			1,113			2,630			5,138
Total expenses	917			5,012			7,863			16,599
Income before income taxes	$	888		$	1,046		$	15,597		$	8,814
Income attributable to noncontrolling interest before income taxes	$	145		$	171		$	2,545		$	1,438

The following is a summary of cash flows of OMHHF for the nine months ended September 30, 2016 and 2015:

(Expressed in thousands)
	For the Nine Months Ended September 30,
	2016			2015
Cash (used in) provided by operating activities	$	(4,143	)	$	8,005
Cash provided by investing activities	47,562			—
Cash used in financing activities (1)	(35,358		)	(187		)
Net increase in cash and cash equivalents	$	8,061		$	7,818