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Loans Receivable
 12 Months Ended
Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Loans Receivable Loans Receivable
Loans receivable are as follows:
 
As of December 31,
(In thousands)
2019
 
2018
Amortized cost (net of valuation allowance):
 
 
 
  Real estate loans
$
58,541

 
$
62,289

  Commercial loans
33,258

 
32,524

  Total
$
91,799

 
$
94,813

 
 
 
 
Fair value:
 
 
 
  Real estate loans
$
59,853

 
$
63,047

  Commercial loans
34,760

 
34,026

  Total
$
94,613

 
$
97,073

 
 
 
 
Valuation allowance:
 
 
 
  Specific
$
165

 
$
1,200

  General
1,981

 
2,183

  Total
$
2,146

 
$
3,383

 
 
 
 
 
For the Year Ended December 31,
 
2019
 
2018
  Decrease in valuation allowance
$
(1,237
)
 
$
—


Loans receivable in non-accrual status were $0.2 million and $1.2 million as of December 31, 2019 and 2018, respectively.
The Company monitors the performance of its loans receivable and assesses the ability of the borrower to pay principal and interest based upon loan structure, underlying property values, cash flow and related financial and operating performance of the property and market conditions. Loans receivable with a potential for default are further assessed using discounted cash flow analysis and comparable cost and sales methodologies, if appropriate.
The real estate loans are secured by commercial real estate primarily located in New York. These loans generally earn interest at floating LIBOR-based interest rates and have maturities (inclusive of extension options) through August 2025. The commercial loans are with small business owners who have secured the related financing with the assets of the business. Commercial loans generally earn interest on a fixed basis and have varying maturities not exceeding 10 years.
In evaluating the real estate loans, the Company considers their credit quality indicators, including loan to value ratios, which compare the outstanding loan amount to the estimated value of the property, the borrower’s financial condition and performance with respect to loan terms, the position in the capital structure, the overall leverage in the capital structure and other market conditions. Based on these considerations, none of the real estate loans were considered to be impaired at December 31, 2019, and accordingly, the Company determined that a specific valuation allowance was not required.