| |
Year ended February 28 (29), |  | |
|
(Dollar amounts in thousands, except per share data) |
2001 |
2000 |
1999 | |
|
Revenues | | | | | | |
|
Loan origination fees |
$ |
398,544 |
$ |
406,458 |
$ |
623,531 |
|
Gain on sale of loans, net of commitment fees | |
611,092 | |
557,743 | |
699,433 | | |
|
Loan production revenue | |
1,009,636 | |
964,201 | |
1,322,964 |
|
Interest earned | |
1,341,402 | |
998,646 | |
1,029,066 |
|
Interest charges | |
(1,348,242) | |
(922,225) | |
(977,326) | | |
|
Net interest | |
(6,840) | |
76,421 | |
51,740 |
|
Loan servicing revenues | |
1,201,177 | |
996,861 | |
842,583 |
|
Amortization and impairment/recovery of mortgage | | | | | | |
|
servicing rights, net of servicing hedge | |
(617,153) | |
(445,138) | |
(600,766) | | |
|
Net loan administration income | |
584,024 | |
551,723 | |
241,817 |
|
Net premiums earned | |
274,039 | |
75,786 | |
12,504 |
|
Commissions, fees and other income | |
195,462 | |
202,742 | |
175,363 | | |
|
Total revenues | |
2,056,321 | |
1,870,873 | |
1,804,388 |
|
Expenses | | | | | | |
|
Salaries and related expenses | |
769,287 | |
689,768 | |
669,686 |
|
Occupancy and other office expenses | |
275,074 | |
270,015 | |
264,575 |
|
Marketing expenses | |
71,557 | |
72,930 | |
64,510 |
|
Insurance net losses | |
106,827 | |
23,420 | |
- |
|
Other operating expenses | |
247,541 | |
183,542 | |
173,812 | | |
|
Total expenses | |
1,470,286 | |
1,239,675 | |
1,172,583 | | |
|
Earnings before income taxes | |
586,035 | |
631,198 | |
631,805 |
|
Provision for income taxes | |
211,882 | |
220,955 | |
246,404 | | |
|
Net Earnings |
$ |
374,153 |
$ |
410,243 |
$ |
385,401 | | | | | | | | | | |
|
Earnings per share | | | | | | |
|
Basic |
$ |
3.26 |
$ |
3.63 |
$ |
3.46 |
|
Diluted |
$ |
3.14 |
$ |
3.52 |
$ |
3.29 |
| | | | | | | |
The accompanying notes are an integral part of these statements.
|
