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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 3,403 $ 3,191
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 524 475
Provision for credit losses 109 402
Unrealized (gain) loss on trading securities 0 (776)
Equity in (earnings) losses of unconsolidated entities (3,133) (2,350)
Distributions from unconsolidated entities 5,029 2,151
(Gain) loss on sales of leases and loans (18) 0
Impairment on investments in available for sale securities 98 0
(Gain) loss on sales of investment securities, net (498) 0
Deferred income tax provision (benefit) 2,409 1,339
Equity-based compensation issued 951 744
(Gain) loss on trading securities (714) (595)
Trading securities purchases and sales, net (1,606) (8,847)
Changes in operating assets and liabilities (3,840) (2,100)
Net cash provided by (used in) operating activities 2,714 (6,366)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (48) (997)
Investments in real estate and unconsolidated real estate entities (3,540) (21)
Principal payments on leases and loans 18 3
Purchase of loans and investments (732) (819)
Proceeds from sale of loans and investments 666 454
Net cash provided by (used in) investing activities (3,636) (1,380)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase (decrease) in borrowings 0 881
Principal payments on borrowings (149) (120)
Dividends paid (1,132) (1,312)
Proceeds from issuance of common stock 0 1
Repurchases of common stock (3,474) (2,108)
(Increase) decrease in restricted cash (107) (74)
Contributions from non-controlling interests - Pelium 0 4,052
Net cash provided by (used in) financing activities (4,862) 1,320
Increase (decrease) in cash (5,784) (6,426)
Cash, beginning of year 24,132 33,947
Cash, end of period $ 18,348 $ 27,521