FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2014

Schedule of estimated fair values of financial instruments not recorded at fair value on consolidated balance sheets

	September 30, 2014				December 31, 2013
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value		Level
	(in thousands)
Assets:
Loans Receivable Subject to Credit Risk	$	148,673	$	148,444	$	—	$	—		3
SBA 7(a) loans receivable, subject to secured borrowings		43,181		44,006		—		—		3
Liabilities:
Secured borrowings—government guaranteed loans		43,684		43,684		—		—		3
Unsecured credit facilities		330,000		330,000		164,000		164,000		3
Junior subordinated notes		24,889		24,889		—		—		3
Mortgages payable		225,674		232,463		231,105		231,250		3

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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