Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

v3.22.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Revenue    
Loan origination fees and gain on sale of loans, net $ 703,674 $ 1,480,516
Loan servicing and other fees 223,403 194,759
Valuation adjustment of mortgage servicing rights 217,551 (101,572)
Interest income 68,144 64,110
Interest expense (49,240) (61,590)
Other income, net 1,289 87
Net revenue 1,164,821 1,576,310
Expenses    
Salaries, incentive compensation and benefits 619,185 1,019,790
General and administrative 38,085 91,291
Occupancy, equipment and communication 71,707 67,328
Depreciation and amortization 15,525 11,488
Provision for (reversal of) foreclosure losses 300 (518)
Total expenses 744,802 1,189,379
Income before income tax expense 420,019 386,931
Income tax expense 91,389 103,149
Net income 328,630 283,782
Net income attributable to non-controlling interest 32 9
Net income attributable to Guild $ 328,598 $ 283,773
Net income per share attributable to Class A and Class B Common Stock:    
Basic (in dollars per share) $ 5.39 $ 4.69
Diluted (in dollars per share) $ 5.35 $ 4.67
Weighted average shares outstanding of Class A and Class B Common Stock:    
Basic (in shares) 60,981 60,511
Diluted (in shares) 61,379 60,825