Quarterly report pursuant to Section 13 or 15(d)

Other Assets (Tables)

v3.7.0.1
Other Assets (Tables)
 3 Months Ended
Mar. 31, 2017
Other Assets [Abstract]  
Schedule of Other Assets [Table Text Block]
Other assets as of March 31, 2017 and December 31, 2016 are summarized in the following table:
(in thousands)
March 31,
2017
 
 
December 31,
2016
Property and equipment at cost
$
6,481

 
 
$
6,481

Accumulated depreciation (1)
(4,851
)
 
 
(4,566
)
Net property and equipment
1,630

 
 
1,915

Prepaid expenses
1,164

 
 
1,406

Income taxes receivable
1,448

 
 
1,532

Deferred tax assets, net
55,094

(2) 
 
57,361

Servicing advances
24,681

 
 
26,147

Federal Home Loan Bank stock
148,096

 
 
167,856

Equity investments
3,000

 
 
3,000

Other receivables
34,972

 
 
43,653

Total other assets
$
270,085

 
 
$
302,870

____________________
(1)
Depreciation expense for the three months ended March 31, 2017 and 2016 was $0.3 million and $0.3 million, respectively.
(2)
Net of valuation allowance of $4.4 million.