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Loans Receivable
 3 Months Ended
Mar. 31, 2020
Receivables [Abstract]  
Loans Receivable Loans Receivable
At March 31, 2020 and December 31, 2019, loans receivable are as follows:
(In thousands)
March 31, 2020
 
December 31, 2019
Amortized cost (net of allowance for expected credit losses):
 
 
 
Real estate loans
$
52,890

 
$
58,541

Commercial loans
34,168

 
33,258

Total
$
87,058

 
$
91,799

 
 
 
 
Fair value:
 
 
 
Real estate loans
$
56,906

 
$
59,853

Commercial loans
34,168

 
34,760

Total
$
91,074

 
$
94,613



The following table presents the rollforward of the allowance for expected credit losses for loans receivable for the period ended March 31, 2020:
 
Real Estate Loans
 
Commercial Loans
 
Total
(In thousands)
 
 
Allowance for expected credit losses at January 1, 2020
$
1,502

 
$
644

 
$
2,146

Cumulative effect adjustment resulting from changes in accounting principles
(905
)
 
548

 
(357
)
Provision for expected credit losses
838

 
1,301

 
2,139

Allowance for expected credit losses at March 31, 2020
$
1,435

 
$
2,493

 
$
3,928


Loans receivable in non-accrual status were both $0.2 million as of March 31, 2020 and December 31, 2019.
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.
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 primarily earn interest on a fixed basis and have varying maturities generally 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.