Annual report pursuant to Section 13 and 15(d)

Other Assets (Tables)

v3.3.1.900
Other Assets (Tables)
 12 Months Ended
Dec. 31, 2015
Other Assets [Abstract]  
Schedule of Other Assets [Table Text Block]
Other assets as of December 31, 2015 and December 31, 2014 are summarized in the following table:
(in thousands)
December 31,
2015
 
December 31,
2014
Property and equipment at cost
$
5,997

 
$
4,849

Accumulated depreciation (1)
(3,303
)
 
(1,941
)
Net property and equipment
2,694

 
2,908

Prepaid expenses
1,572

 
1,790

Income taxes receivable
5,286

 
—

Deferred tax assets, net
44,318

 
40,847

Servicing advances
37,499

 
27,490

Federal Home Loan Bank stock
156,650

 
100,010

Equity investments
3,000

 
3,000

Other receivables
20,556

 
12,534

Total other assets
$
271,575

 
$
188,579

____________________
(1)
Depreciation expense for the years ended December 31, 2015 and 2014 was $1.4 million and $1.1 million, respectively.