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Consolidated Balance Sheets (Unaudited) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2012
Dec. 31, 2011
Loans receivable, net:    
Commercial mortgage loans receivable $ 142,190 $ 133,327
SBA 7(a) loans receivable, subject to secured borrowings 35,378 30,476
SBIC commercial mortgage loans receivable 35,215 32,153
SBA 7(a) loans receivable 22,961 22,997
Commercial mortgage loans receivable, subject to structured notes payable 0 15,474
Loans receivable, net 235,744 234,427
Cash and cash equivalents 3,254 6,502
Real estate owned 1,241 1,259
Restricted cash and cash equivalents 0 2,233
Other assets 7,059 6,826
Total assets 247,298 251,247
Debt:    
Secured borrowings - government guaranteed loans 37,846 32,546
Junior subordinated notes 27,070 27,070
Revolving credit facility 15,700 17,800
SBIC debentures payable 13,183 13,181
Structured notes payable 0 5,264
Debt 93,799 95,861
Borrower advances 3,685 3,863
Accounts payable and accrued expenses 2,216 2,095
Dividends payable 1,716 1,692
Total liabilities 101,416 103,511
Commitments and contingencies      
Beneficiaries' equity:    
Common shares of beneficial interest; authorized 100,000,000 shares of $0.01 par value; 11,120,883 and 11,110,883 shares issued at March 31, 2012 and December 31, 2011, respectively; 10,584,554 and 10,574,554 shares outstanding at March 31, 2012 and December 31, 2011, respectively 111 111
Additional paid-in capital 152,974 152,934
Net unrealized appreciation of retained interests in transferred assets 349 394
Cumulative net income 175,941 176,096
Cumulative dividends (179,492) (177,798)
Beneficiaries' equity before treasury stock 149,883 151,737
Less: Treasury stock; at cost, 536,329 shares at March 31, 2012 and December 31, 2011 (4,901) (4,901)
Total beneficiaries' equity 144,982 146,836
Noncontrolling interests - cumulative preferred stock of subsidiary 900 900
Total equity 145,882 147,736
Total liabilities and equity $ 247,298 $ 251,247