Annual report pursuant to Section 13 and 15(d)

Other Assets

v3.8.0.1
Other Assets
 12 Months Ended
Dec. 31, 2017
Other Assets [Abstract]  
Other Assets
Other Assets
Other assets as of December 31, 2017 and December 31, 2016 are summarized in the following table:
(in thousands)
December 31,
2017
 
December 31,
2016
Property and equipment at cost
$
6,776

 
 
$
6,481

Accumulated depreciation (1)
(5,550
)
 
 
(4,566
)
Net property and equipment
1,226

 
 
1,915

Equity securities, at fair value
29,413

 
 
—

Prepaid expenses
1,755

 
 
1,406

Income taxes receivable
130

 
 
1,527

Deferred tax assets, net
25,956

(2) 
 
57,361

Servicing advances
31,050

 
 
26,147

Federal Home Loan Bank stock
53,826

 
 
167,856

Equity investments
3,000

 
 
3,000

Other receivables
29,482

 
 
33,553

Total other assets
$
175,838

 
 
$
292,765

____________________
(1)
Depreciation expense for the years ended December 31, 2017 and 2016 was $0.9 million and $1.3 million, respectively.
(2)
Net of valuation allowance of $2.7 million.