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Fair Values (Tables)
 6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities recorded at fair value on a recurring and non-recurring basis by levels
The following fair value hierarchy table summarizes the Company's assets and liabilities recorded at fair value on a recurring and non-recurring basis by the above categories ($ in thousands):
 
 
 
Fair Value Using
 
Total
 
Quoted market
prices in
active markets
(Level 1)
 
Significant other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
As of June 30, 2015
 
 
 
 
 
 
 
Recurring basis:
 
 
 
 
 
 
 
Derivative assets
$
2,204

 
$
—

 
$
2,204

 
$
—

Derivative liabilities
684

 
—

 
684

 
—

Available-for-sale securities(1)
1,100

 
—

 
—

 
1,100

Non-recurring basis:
 
 
 
 
 
 
 
Impaired loans(2)
32,200

 
—

 
—

 
32,200

Impaired real estate(3)
1,215

 
—

 
—

 
1,215

 
 
 
 
 
 
 
 
As of December 31, 2014
 
 
 
 
 
 
 
Recurring basis:
 
 
 
 
 
 
 
Derivative assets
$
6,361

 
$
—

 
$
6,361

 
$
—

Derivative liabilities
478

 
—

 
478

 
—

Available-for-sale securities
7,906

 
7,906

 
—

 
—

Non-recurring basis:
 
 
 
 
 
 
 
Impaired loans(4)
37,169

 
—

 
—

 
37,169

Impaired real estate(5)
7,102

 
—

 
—

 
7,102


Explanatory Notes:
_______________________________________________________________________________

(1)
The fair value of the Company's available-for-sale securities are based upon third-party broker quotes.
(2)
The Company recorded a provision for loan losses on one loan with a fair value of $24.2 million based on the expected proceeds to be received from the borrower. The Company also recorded a provision for loan losses on one loan with a fair value of $8.0 million based on a discount rate of 12.6% using discounted cash flows over a six month term.
(3)
The Company recorded impairment on one real estate asset with a fair value of $1.2 million based on a discount rate of 11% using discounted cash flows over a six year hold period.
(4)
The Company recorded a recovery of loan losses on one loan with a fair value of $8.5 million based on the loan's remaining term of 1.5 years and interest rate of 4.7% using discounted cash flow analysis. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal. In addition, the Company recorded a provision for loan losses on one loan, collateralized by a land asset, with a fair value of $23.5 million based upon a foreclosure sale agreement. The land asset was acquired by an unconsolidated entity in which the Company is a partner.
(5)
The Company recorded impairment on one real estate asset with a fair value of $7.1 million based on a discount rate of 15.0% using discounted cash flows over a 10 year lease term.