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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Loans receivable, net:    
Commercial mortgage loans receivable $ 133,327 $ 122,581
SBIC commercial mortgage loans receivable 32,153 31,113
SBA 7(a) loans receivable, subject to secured borrowings 30,476 20,533
SBA 7(a) loans receivable 22,997 18,570
Commercial mortgage loans receivable, subject to structured notes payable 15,474 40,421
Loans receivable, net 234,427 233,218
Cash and cash equivalents 6,502 2,642
Restricted cash and cash equivalents 2,233 5,786
Real estate owned 1,259 3,477
Other assets 6,826 7,004
Total assets 251,247 252,127
Debt:    
Secured borrowings - government guaranteed loans 32,546 21,765
Junior subordinated notes 27,070 27,070
Revolving credit facility 17,800 13,800
SBIC debentures payable 13,181 8,177
Structured notes payable 5,264 22,157
Debt 95,861 92,969
Borrower advances 3,863 3,462
Accounts payable and accrued expenses 2,095 2,739
Dividends payable 1,692 1,712
Deferred gains on property sales 0 685
Total liabilities 103,511 101,567
Commitments and contingencies      
Beneficiaries' equity:    
Common shares of beneficial interest; authorized 100,000,000 shares of $0.01 par value; 11,110,883 and 11,095,883 shares issued at December 31, 2011 and 2010, respectively; 10,574,554 and 10,559,554 shares outstanding at December 31, 2011 and 2010, respectively 111 111
Additional paid-in capital 152,934 152,756
Net unrealized appreciation of retained interests in transferred assets 394 276
Cumulative net income 176,096 172,449
Cumulative dividends (177,798) (171,031)
Total beneficiaries' equity 151,737 154,561
Less: Treasury stock; at cost, 536,329 shares at December 31, 2011 and 2010 (4,901) (4,901)
Total beneficiaries' equity 146,836 149,660
Noncontrolling interests - cumulative preferred stock of subsidiary 900 900
Total equity 147,736 150,560
Total liabilities and equity $ 251,247 $ 252,127