MORTGAGE LOANS (Tables)

3 Months Ended

Mar. 31, 2019

MORTGAGE LOANS

Allowance for Credit Losses on Financing Receivables

A charge off is recorded by eliminating the allowance against the mortgage loan and recording the renegotiated loan or the collateral property related to the loan as investment real estate on the balance sheet, which is carried at the lower of the appraised fair value of the property or the unpaid principal balance of the loan, less estimated selling costs associated with the property.

	As of March 31, 2019			As of December 31, 2018
	(Dollars In Thousands)
Beginning balance	$	1,296		$	—
Charge offs	(350		)	—
Recoveries	—			(209		)
Provision	1,000			1,505
Ending balance	$	1,946		$	1,296

Schedule of an Analysis of the Delinquent Loans

An analysis of the delinquent loans is shown in the following chart. 

					Greater
	30-59 Days		60-89 Days		than 90 Days		Total
As of March 31, 2019	Delinquent		Delinquent		Delinquent		Delinquent
	(Dollars In Thousands)
Commercial mortgage loans	$	637	$	—	$	83	$	720
Number of delinquent commercial mortgage loans	2		—		1		3
As of December 31, 2018
Commercial mortgage loans	$	1,044	$	—	$	1,234	$	2,278
Number of delinquent commercial mortgage loans	4		—		1		5

Impaired Financing Receivables

	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Income
	(Dollars In Thousands)
As of March 31, 2019
Commercial mortgage loans:
With no related allowance recorded	$	83	$	83	$	—	$	83	$	—	$	—
With an allowance recorded	$	8,331	$	8,196	$	1,946	$	4,165	$	128	$	156
As of December 31, 2018
Commercial mortgage loans:
With no related allowance recorded	$	—	$	—	$	—	$	—	$	—	$	—
With an allowance recorded	$	5,684	$	5,309	$	1,296	$	1,895	$	267	$	293

Schedule of Mortgage Loans Modified in Troubled Debt Restructuring

Mortgage loans that were modified in a troubled debt restructuring as of March 31, 2019 and December 31, 2018 were as follows:

	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
	(Dollars In Thousands)
As of March 31, 2019
Troubled debt restructuring:
Commercial mortgage loans	—	$	—	$	—
As of December 31, 2018
Troubled debt restructuring:
Commercial mortgage loans	1	$	2,688	$	1,742