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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Schedule of Reconciliation of Effective Income Tax Rate | The income tax provision shown in the consolidated statements of income is reconciled to amounts of tax that would have been payable (recoverable) from the application of the federal tax rate to pre-tax profit, as follows:
(Expressed in thousands) |  |  |  |  |  |  |  |  |  |  |
| For the Year Ended December 31,
| 2015 |  | 2014 |  | 2013
| Amount |  | Percentage |  | Amount |  | Percentage |  | Amount |  | Percentage
U.S. federal statutory income tax rate | $ | 2,348 |  |  | 35.0 | % |  | $ | 9,008 |  |  | 35.0 | % |  | $ | 15,368 |  |  | 35.0 | %
U.S. state and local income taxes, net of U.S. federal income tax benefits | 373 |  |  | 5.5 | % |  | 2,033 |  |  | 7.9 | % |  | 2,131 |  |  | 4.9 | %
Unrecognized tax benefit | 589 |  |  | 8.8 | % |  | 6 |  |  | — | % |  | 1,244 |  |  | 2.8 | %
Tax exempt income, net of interest expense | (696 | ) |  | -10.4 | % |  | (528 | ) |  | -2.0 | % |  | (715 | ) |  | -1.6 | %
Non-deductible regulatory settlements | — |  |  | — | % |  | 5,298 |  |  | 20.6 | % |  | — |  |  | — | %
Business promotion and other non-deductible expenses | 577 |  |  | 8.6 | % |  | 655 |  |  | 2.5 | % |  | 660 |  |  | 1.5 | %
Insurance proceeds, non-taxable | — |  |  | — | % |  | (65 | ) |  | -0.3 | % |  | (597 | ) |  | -1.4 | %
Adjustment to reflect prior year tax return filings | 397 |  |  | 5.9 | % |  | 256 |  |  | 1.0 | % |  | (251 | ) |  | -0.6 | %
Tax rate change on deferred income taxes | 116 |  |  | 1.7 | % |  | 241 |  |  | 0.9 | % |  | 208 |  |  | 0.5 | %
Tax rate differential on foreign operations | 145 |  |  | 2.2 | % |  | (447 | ) |  | -1.7 | % |  | 185 |  |  | 0.4 | %
Other | (36 | ) |  | -0.5 | % |  | (282 | ) |  | -1.1 | % |  | (477 | ) |  | -1.1 | %
Total income tax provision | $ | 3,813 |  |  | 56.8 | % |  | $ | 16,175 |  |  | 62.8 | % |  | $ | 17,756 |  |  | 40.4 | %
Schedule of Current and Deferred Income Tax (Benefit) | Income taxes included in the consolidated statements of income represent the following:
(Expressed in thousands) |  |  |  |  |
| For the Year Ended December 31,
| 2015 |  | 2014 |  | 2013
Current: |  |  |  |  |
U.S. federal tax (benefit) | $ | (1,738 | ) |  | $ | 10,302 |  |  | $ | (2,984 | )
State and local tax | 832 |  |  | 1,520 |  |  | 1,885 |
Non-U.S. operations | 181 |  |  | (264 | ) |  | 116 |
Total Current | (725 | ) |  | 11,558 |  |  | (983 | )
Deferred: |  |  |  |  |
U.S. federal tax | 3,173 |  |  | 1,273 |  |  | 16,658 |
State and local tax | 1,145 |  |  | 2,057 |  |  | 2,482 |
Non-U.S. operations | 220 |  |  | 1,287 |  |  | (401 | )
Total Deferred | 4,538 |  |  | 4,617 |  |  | 18,739 |
Total | $ | 3,813 |  |  | $ | 16,175 |  |  | $ | 17,756 |
Schedule of Significant Components of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities at December 31, 2015 and 2014 were as follows:
(Expressed in thousands) |  |  |
| For the Year Ended December 31,
| 2015 |  | 2014
Deferred tax assets: |  |  |
Employee deferred compensation plans | $ | 27,423 |  |  | $ | 30,969 |
Deferred rent | 10,582 |  |  | 10,024 |
Lease incentive | 5,855 |  |  | 6,212 |
Broker notes | 3,441 |  |  | 3,460 |
Auction rate securities reserve | 2,666 |  |  | 3,229 |
Net operating loss | 2,834 |  |  | 2,896 |
Involuntary conversion | 2,245 |  |  | 2,033 |
Reserve for litigation and legal fees | 3,350 |  |  | 5,808 |
Allowance for doubtful accounts | 1,037 |  |  | 984 |
State and local net operating loss/credit carryforward | 1,330 |  |  | 357 |
Other | 2,718 |  |  | 2,650 |
Total deferred tax assets | 63,481 |  |  | 68,622 |
Valuation allowance | 126 |  |  | 113 |
Deferred tax assets after valuation allowance | 63,355 |  |  | 68,509 |
Deferred tax liabilities: |  |  |
Goodwill amortization (Section 197) | 53,364 |  |  | 48,025 |
Partnership investments | 7,444 |  |  | 10,865 |
Mortgage servicing rights | 10,571 |  |  | 12,173 |
Company owned life insurance | 6,431 |  |  | 6,501 |
Change in accounting method | 1,313 |  |  | 2,591 |
Book versus tax depreciation differences | 657 |  |  | 982 |
Other | 248 |  |  | 469 |
Total deferred tax liabilities | 80,028 |  |  | 81,606 |
Deferred tax liabilities, net | $ | (16,673 | ) |  | $ | (13,097 | )
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefit follows:
(Expressed in thousands) |  |  |  |  |
| 2015 |  | 2014 |  | 2013
Balance at January 1, | $ | 1,583 |  |  | $ | 1,574 |  |  | $ | 5,236 |
Additions for tax positions of prior years | 907 |  |  | — |  |  | 1,168 |
Additions for tax positions of current year | — |  |  | 9 |  |  | 77 |
Reclass to other tax accounts | — |  |  | — |  |  | (4,907 | )
Balance at December 31, | $ | 2,490 |  |  | $ | 1,583 |  |  | $ | 1,574 |

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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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