Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income

v3.22.1
Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenue    
Loan origination fees and gain on sale of loans, net $ 242,639 $ 446,589
Loan servicing and other fees 53,177 45,199
Valuation adjustment of mortgage servicing rights 184,601 35,743
Interest income 15,263 15,098
Interest expense (14,138) (16,511)
Other income, net 220 69
Net revenue 481,762 526,187
Expenses    
Salaries, incentive compensation and benefits 187,329 266,724
General and administrative (5,630) 26,906
Occupancy, equipment and communication 18,312 14,832
Depreciation and amortization 3,913 1,654
(Relief) provision for foreclosure losses (321) 2,462
Total expenses 203,603 312,578
Income before income tax expense 278,159 213,609
Income tax expense 70,186 53,005
Net income 207,973 160,604
Net income attributable to non-controlling interest 15 0
Net income attributable to Guild $ 207,958 $ 160,604
Net income per share attributable to Class A and Class B Common Stock:    
Basic (in dollars per share) $ 3.41 $ 2.68
Diluted (in dollars per share) $ 3.38 $ 2.67
Weighted average shares outstanding of Class A and Class B Common Stock:    
Basic (in shares) 61,057 60,000
Diluted (in shares) 61,494 60,211