Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Revenue    
Loan origination fees and gain on sale of loans, net $ 1,480,516 $ 1,759,871
Loan servicing and other fees 194,759 160,237
Valuation adjustment of mortgage servicing rights (101,572) (296,307)
Interest income 64,110 57,649
Interest expense (61,590) (60,168)
Other income, net 87 765
Net revenue 1,576,310 1,622,047
Expenses    
Salaries, incentive compensation and benefits 1,019,790 953,758
General and administrative 91,291 101,948
Occupancy, equipment and communication 67,328 57,070
Depreciation and amortization 11,488 7,501
Provision for foreclosure losses (518) 7,700
Total expenses 1,189,379 1,127,977
Income before income tax expense 386,931 494,070
Income tax expense 103,149 123,493
Net income 283,782 370,577
Net income attributable to non-controlling interest 9 0
Net income attributable to Guild $ 283,773 $ 370,577
Net income per share attributable to Class A and Class B Common Stock:    
Basic (in dollars per share) $ 4.69 $ 6.18
Diluted (in dollars per share) $ 4.67 $ 6.17
Weighted average shares outstanding of Class A and Class B Common Stock:    
Basic (in shares) 60,511,000 60,000,000
Diluted (in shares) 60,825,000 60,056,000