Quarterly report pursuant to Section 13 or 15(d)

Other Assets

v3.8.0.1
Other Assets
 9 Months Ended
Sep. 30, 2017
Other Assets [Abstract]  
Other Assets
Other Assets
Other assets as of September 30, 2017 and December 31, 2016 are summarized in the following table:
(in thousands)
September 30,
2017
 
December 31,
2016
Property and equipment at cost
$
6,754

 
 
$
6,481

Accumulated depreciation (1)
(5,342
)
 
 
(4,566
)
Net property and equipment
1,412

 
 
1,915

Prepaid expenses
2,083

 
 
1,406

Income taxes receivable
120

 
 
1,532

Deferred tax assets, net
45,880

(2) 
 
57,361

Servicing advances
20,658

 
 
26,147

Federal Home Loan Bank stock
85,175

 
 
167,856

Equity investments
3,000

 
 
3,000

Other receivables
48,632

 
 
43,653

Total other assets
$
206,960

 
 
$
302,870

____________________
(1)
Depreciation expense for the three and nine months ended September 30, 2017 was $0.2 million and $0.8 million, respectively.
(2)
Net of valuation allowance of $4.3 million.