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 |
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Year Ended December 31,
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(in thousands, except per share data and Other Information)
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2001
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2000
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1999
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1998
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1997
|
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REVENUES
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|
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Commissions and fees
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$
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359,697
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$
|
258,309
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$
|
231,437
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|
$
|
211,722
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|
$
|
188,366
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|
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|
Investment income
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|
3,686
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|
|
4,887
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|
|
3,535
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|
4,350
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5,431
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|
Other income
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1,646
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|
|
|
|
2,209
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|
|
2,551
|
|
|
718
|
|
|
2,315
|
|
 |
|
Total revenues
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365,029
|
|
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|
$
|
265,405
|
|
$
|
237,523
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$
|
216,790
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|
$
|
196,112
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EXPENSES
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Compensation and benefits
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187,653
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149,836
|
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131,270
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|
119,879
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111,277
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Other operating expenses
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|
56,815
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44,372
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41,893
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|
41,228
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|
38,043
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Amortization expense
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15,860
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9,226
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8,343
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|
6,329
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|
6,057
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Depreciation expense
|
|
6,536
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|
6,158
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|
5,892
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|
5,216
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|
4,764
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Interest expense
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5,703
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|
1,266
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|
|
1,360
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|
|
1,233
|
|
|
1,684
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Non-cash stock grant
compensation
|
|
1,984
|
|
|
483
|
|
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1,263
|
|
|
732
|
|
|
176
|
|
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Total expenses
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274,551
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211,341
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|
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190,021
|
|
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174,617
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162,001
|
|
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Income before income taxes
and minority interest
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|
90,478
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|
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54,064
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47,502
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42,173
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34,111
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Income taxes
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|
34,834
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20,146
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18,331
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16,179
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13,408
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Minority interest, net of income
taxes
|
|
1,731
|
|
|
|
1,125
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|
|
900
|
|
|
848
|
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|
862
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Net income
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$
|
53,913
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$
|
32,793
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$
|
28,271
|
|
$
|
25,146
|
|
$
|
19,841
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PER SHARE INFORMATION
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Net income per share
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$
|
0.85
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$
|
0.53
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$
|
0.46
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$
|
0.41
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$
|
0.32
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|
Weighted average number of
shares outstanding
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|
63,222
|
|
|
|
62,091
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|
|
61,655
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|
61,524
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|
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61,267
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Dividends paid per share
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$
|
0.1600
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|
|
$
|
0.1350
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$
|
0.1150
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$
|
0.1025
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$
|
0.0883
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YEAR-END FINANCIAL POSITION
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Intangible assets, net
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$
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268,311
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$
|
113,031
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$
|
102,094
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$
|
89,165
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|
$
|
59,761
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|
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Total assets
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$
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488,737
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$
|
324,677
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$
|
286,416
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$
|
285,028
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$
|
254,636
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Long-term debt
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$
|
78,195
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$
|
10,660
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$
|
10,905
|
|
$
|
24,522
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|
$
|
15,993
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Shareholders’ equity
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$
|
175,285
|
|
|
$
|
118,372
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$
|
100,355
|
|
$
|
82,073
|
|
$
|
72,377
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Total shares outstanding
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63,194
|
|
|
|
62,164
|
|
|
61,589
|
|
|
61,791
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|
|
61,345
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|
|
OTHER INFORMATION
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|
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|
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|
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|
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Number of full-time equivalent
employees
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|
2,921
|
|
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2,143
|
|
|
2,016
|
|
|
2,063
|
|
|
1,869
|
|
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Revenue per average number
of employees
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$
|
144,166
|
|
|
$
|
127,629
|
|
$
|
116,461
|
|
$
|
110,270
|
|
$
|
105,069
|
|
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Book value per share
|
$
|
2.77
|
|
|
$
|
1.90
|
|
$
|
1.63
|
|
$
|
1.33
|
|
$
|
1.18
|
|
|
Stock price at year-end
(closing price)
|
$
|
27.30
|
|
|
$
|
17.50
|
|
$
|
9.58
|
|
$
|
8.74
|
|
$
|
7.44
|
|
|
Stock price earnings multiple
|
|
32.01
|
|
|
|
33.13
|
|
|
20.89
|
|
|
21.37
|
|
|
22.96
|
|
|
Return on beginning
shareholders’ equity
|
|
46%
|
|
|
|
33%
|
|
|
34%
|
|
|
35%
|
|
|
33%
|
|
|
|
|
|
|
|
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