Pipar Jaffray Companies (Parent Company only) (Tables) (Parent Company [Member])
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12 Months Ended |
Dec. 31, 2014
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Parent Company [Member]
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Condensed Financial Statements, Captions [Line Items] |
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Condensed Statement of Financial Condition |
Condensed Statements of Financial Condition | | | | | | | | | | December 31, | | December 31, | (Amounts in thousands) | 2014 | | 2013 | Assets | | | | Cash and cash equivalents | $ | 200 |
| | $ | 336 |
| Investment in and advances to subsidiaries | 956,609 |
| | 870,104 |
| Other assets | 13,819 |
| | 9,119 |
| Total assets | $ | 970,628 |
| | $ | 879,559 |
| | | | | Liabilities and Shareholders’ Equity | | | | Variable rate senior notes | $ | 125,000 |
| | $ | 125,000 |
| Accrued compensation | 24,618 |
| | 18,454 |
| Other liabilities and accrued expenses | 1,098 |
| | 1,429 |
| Total liabilities | 150,716 |
| | 144,883 |
| | | | | Shareholders’ equity | 819,912 |
| | 734,676 |
| Total liabilities and shareholders’ equity | $ | 970,628 |
| | $ | 879,559 |
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Condensed Statement of Operations |
Condensed Statements of Operations | | | | | | | | | | | | | | Year Ended December 31, | (Amounts in thousands) | 2014 | | 2013 | | 2012 | Revenues: | | | | | | Dividends from subsidiaries | $ | 50,333 |
| | $ | 46,000 |
| | $ | 119,000 |
| Interest | 662 |
| | 254 |
| | 82 |
| Other revenues | 275 |
| | 198 |
| | — |
| Total revenues | 51,270 |
| | 46,452 |
| | 119,082 |
| | | | | | | Interest expense | 5,463 |
| | 5,850 |
| | 5,823 |
| | | | | | | Net revenues | 45,807 |
| | 40,602 |
| | 113,259 |
| | | | | | | Non-interest expenses: | | | | | | Total non-interest expenses | 5,318 |
| | 3,096 |
| | 4,222 |
| | | | | | | Income from continuing operations before income tax expense and equity in undistributed/(distributed in excess of) income of subsidiaries | 40,489 |
| | 37,506 |
| | 109,037 |
| | | | | | | Income tax expense | 14,795 |
| | 13,263 |
| | 39,175 |
| | | | | | | Income from continuing operations of parent company | 25,694 |
| | 24,243 |
| | 69,862 |
| | | | | | | Equity in undistributed/(distributed in excess of) income of subsidiaries | 37,478 |
| | 25,200 |
| | (49,617 | ) | | | | | | | Net income from continuing operations | 63,172 |
| | 49,443 |
| | 20,245 |
| | | | | | | Discontinued operations: | | | | | | Income/(loss) from discontinued operations, net of tax | — |
| | (4,353 | ) | | 21,023 |
| | | | | | | Net income | $ | 63,172 |
| | $ | 45,090 |
| | $ | 41,268 |
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Condensed Statement of Cash Flows |
Condensed Statements of Cash Flows | | | | | | | | | | | | | | Year Ended December 31, | (Amounts in thousands) | 2014 | | 2013 | | 2012 | Operating Activities: | | | | | | Net income | $ | 63,172 |
| | $ | 45,090 |
| | $ | 41,268 |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | Share-based and deferred compensation | 180 |
| | 60 |
| | 240 |
| Equity distributed in excess of/(in undistributed) income of subsidiaries | (37,478 | ) | | (25,200 | ) | | 49,617 |
| | | | | | | Net cash provided by operating activities | 25,874 |
| | 19,950 |
| | 91,125 |
| | | | | | | Investing Activities: | | | | | | Repayment of FAMCO note | 2,000 |
| | 250 |
| | — |
| | | | | | | Net cash provided by investing activities | 2,000 |
| | 250 |
| | — |
| | | | | | | Financing Activities: | | | | | | Issuance of variable rate senior notes | 50,000 |
| | — |
| | 125,000 |
| Repayment of variable rate senior notes | (50,000 | ) | | — |
| | — |
| Decrease in bank syndicated financing | — |
| | — |
| | (115,000 | ) | Advances from/(to) subsidiaries | (28,010 | ) | | 34,996 |
| | (76,481 | ) | Repurchase of common stock | — |
| | (55,929 | ) | | (38,068 | ) | | | | | | | Net cash used in financing activities | (28,010 | ) | | (20,933 | ) | | (104,549 | ) | | | | | | | Net decrease in cash and cash equivalents | (136 | ) | | (733 | ) | | (13,424 | ) | | | | | | | Cash and cash equivalents at beginning of year | 336 |
| | 1,069 |
| | 14,493 |
| | | | | | | Cash and cash equivalents at end of year | $ | 200 |
| | $ | 336 |
| | $ | 1,069 |
| | | | | | | Supplemental disclosures of cash flow information | | | | | | Cash paid during the year for: | | | | | | Interest | $ | (4,801 | ) | | $ | (5,596 | ) | | $ | (5,741 | ) | Income taxes | $ | (14,795 | ) | | $ | (13,263 | ) | | $ | (39,175 | ) |
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