INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes

Reconciliation of our net income to REIT taxable income

	Year Ended December 31,
	2014			2013			2012
	(In thousands)
Income/(loss) from continuing operations before income taxes for TRS's	$	2,925		$	(1,084	)	$	(481	)
Expected federal income tax provision	$	995			(368	)		(163	)
State income taxes		172			(61	)		(26	)
Change in valuation allowance		(1,175	)		418			177
Other		8			11			12
Income tax provision	$	—		$	—		$	—

Components of our net deferred tax asset

	December 31,
	2014			2013
	(In thousands)
Deferred tax assets:
Net operating losses	$	1,893		$	2,598
Secured borrowings—government guaranteed loans		1,075			—
Other		225			327
Total gross deferred tax assets		3,193			2,925
Valuation allowance		(1,808	)		(2,925	)
		1,385			—
Deferred tax liabilities:
Loans receivable		(681	)		—
Other		(147	)		—
		(828	)		—
Deferred tax asset, net	$	557		$	—
Reported as:
Deferred tax assets	$	—		$	—
Assets held for sale		557			—
Deferred tax assets, net	$	557		$	—