Quarterly report pursuant to Section 13 or 15(d)

Other Assets (Tables)

v2.4.0.8
Other Assets (Tables)
6 Months Ended
Jun. 30, 2014
Other Assets [Abstract]  
Schedule of Other Assets [Table Text Block]
Other assets as of June 30, 2014 and December 31, 2013 are summarized in the following table:
(in thousands)
June 30,
2014
 
December 31,
2013
Property and equipment at cost
$
3,588

 
$
2,285

Accumulated depreciation (1)
(1,322
)
 
(858
)
Net property and equipment
2,266

 
1,427

Prepaid expenses
1,445

 
1,818

Income taxes receivable
290

 

Deferred tax assets
20,896

 

Intangible assets

 
533

Servicing advances
15,830

 
7,298

Federal Home Loan Bank stock
60,010

 
10

Equity investments
3,000

 

Other receivables
13,509

 
2,113

Total other assets
$
117,246

 
$
13,199

____________________
(1)
Depreciation expense for the three and six months ended June 30, 2014 was $256,916 and $463,491, respectively.