Discontinued Operations

9 Months Ended

Sep. 30, 2014

Discontinued Operations [Abstract]

Discontinued Operations

NOTE 3 – Discontinued Operations

SN Canada ceased business operations as of September 30, 2013. The results of SN Canada, previously reported in the Institutional Group segment, are classified as discontinued operations for all periods presented. The components of discontinued operations are as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Net revenues	$	(44)	$	4,696	$	(75)	$	12,930
Restructuring expense		-		5,516		217		5,516
Operating expenses		110		4,418		3,664		14,341
Total non-interest expenses		110		9,934		3,881		19,857
Loss from discontinued operations before income tax expense		(154)		(5,238)		(3,956)		(6,927)
Income tax expense/(benefit)		36		1		(1,199)		110
Loss from discontinued operations, net of tax	$	(190)	$	(5,239)	$	(2,757)	$	(7,037)