Summary of Discontinued Operations |
The following presents operating results of the discontinued operations of FCLS for the three months ended March 31, 2020 and March 31, 2019: | | | | | | | | | | | | Three Months Ended March 31, | (in thousands) | | 2020 | | 2019 | Interest income | | $ | 729 |
| | $ | 1,044 |
| Interest expense | | 282 |
| | 584 |
| Net interest income | | 447 |
| | 460 |
| Non-interest income | | 1,358 |
| | 8,813 |
| Total net revenue | | 1,805 |
| | 9,273 |
| Non-interest expense | | 12,434 |
| | 10,127 |
| (Loss) from discontinued operations before income taxes | | (10,629 | ) | | (854 | ) | Income tax expense | | (2,831 | ) | | (217 | ) | Net (loss) from discontinued operations | | $ | (7,798 | ) | | $ | (637 | ) |
The following is a summary of the assets and liabilities of the discontinued operations of FCLS at March 31, 2020 and December 31, 2019: | | | | | | | | | | (in thousands) | | March 31, 2020 | | December 31, 2019 | Assets | | | | | Loans held for sale, at fair value | | $ | 125,723 |
| | $ | 132,655 |
| Premises and equipment, net | | 682 |
| | 1,073 |
| Mortgage servicing rights, at fair value | | 8,518 |
| | 12,299 |
| Mortgage banking derivatives | | (332 | ) | | 2,329 |
| Right-of-use asset | | 2,743 |
| | 3,462 |
| Other assets | | 2,730 |
| | 2,314 |
| Total assets | | $ | 140,064 |
| | $ | 154,132 |
| Liabilities | | | | | Customer payments in process | | $ | 21,241 |
| | $ | 15,372 |
| Lease liability | | 2,767 |
| | 3,494 |
| Other liabilities | | 6,546 |
| | 7,615 |
| Total liabilities | | $ | 30,554 |
| | $ | 26,481 |
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