Loans Receivable, net (Tables)

6 Months Ended

Jun. 30, 2012

Loans Receivable, net [Abstract]

Loans receivables, net

	June 30, 2012			December 31, 2011
	(In thousands)
Commercial mortgage loans	$	139,739		$	134,835
SBIC commercial mortgage loans		39,524			32,416
SBA 7(a) loans, subject to secured borrowings		37,155			30,151
SBA 7(a) loans (1)		28,662			23,238
Commercial mortgage loans, subject to structured notes payable (2)		—			15,474
Total loans receivable		245,080			236,114
Adjusted by:
Deferred capitalized costs, net		285			125
Loan loss reserves		(1,606	)		(1,812	)
Loans receivable, net	$	243,759		$	234,427

(1) At June 30, 2012, includes $5.4 million of the government guaranteed portion of certain SBA 7(a) loans which were held for sale. Of this, $3.3 million were sold during July 2012.

(2) We repaid the structured notes on February 15, 2012.

Aging of loans Receivable

June 30, 2012
Category	Totals				Commercial Mortgage Loans				SBA 7(a) Loans
	(Dollars in thousands)
Current (1)	$	206,108	99.1	%	$	177,805	99.2	%	$	28,303	98.7	%
Between 30 and 59 days delinquent		—	—			—	—			—	—
Between 60 and 89 days delinquent		359	0.2	%		—	—			359	1.3	%
Over 89 days delinquent (2)		1,458	0.7	%		1,458	0.8	%		—	—
	$	207,925	100.0	%	$	179,263	100.0	%	$	28,662	100.0	%

(1) Includes $6.3 million of loans classified as troubled debt restructurings which are current based on revised note terms.

(2) Represents a loan on which the borrower filed for Chapter 11 Bankruptcy. We are classified as a secured creditor in the bankruptcy proceeding. The bankruptcy order was recently confirmed and the borrower is required to pay interest only on the loan until maturity.

December 31, 2011
Category	Totals				Commercial Mortgage Loans				SBA 7(a) Loans
	(Dollars in thousands)
Current (1)	$	202,217	98.2	%	$	179,497	98.2	%	$	22,720	97.7	%
Between 30 and 59 days delinquent		1,224	0.6	%		1,090	0.6	%		134	0.6	%
Between 60 and 89 days delinquent		696	0.3	%		696	0.4	%		—	—
Over 89 days delinquent (2)		1,826	0.9	%		1,442	0.8	%		384	1.7	%
	$	205,963	100.0	%	$	182,725	100.0	%	$	23,238	100.0	%

(1) Includes $6.3 million of loans classified as troubled debt restructurings which are current based on revised note terms. Of these loans, $5.6 million are paying interest only.

(2) Includes a $1.4 million loan on which the borrower filed for Chapter 11 Bankruptcy. We are classified as a secured creditor in the bankruptcy proceeding.

Classified loans receivable

	June 30, 2012
	Totals		%			Commercial Mortgage Loans		%			SBA 7(a) Loans		%
	(Dollars in thousands)
Satisfactory	$	193,107		92.9	%	$	165,178		92.2	%	$	27,929		97.4	%
OAEM		2,541		1.2	%		2,408		1.3	%		133		0.5	%
Substandard		11,970		5.8	%		11,677		6.5	%		293		1.0	%
Doubtful		307		0.1	%		—		—			307		1.1	%
	$	207,925		100.0	%	$	179,263		100.0	%	$	28,662		100.0	%

	December 31, 2011
	Totals		%			Commercial Mortgage Loans		%			SBA 7(a) Loans		%
	(Dollars in thousands)
Satisfactory	$	189,836		92.2	%	$	167,397		91.6	%	$	22,439		96.5	%
OAEM		3,354		1.6	%		3,317		1.8	%		37		0.2	%
Substandard		10,790		5.2	%		10,569		5.8	%		221		1.0	%
Doubtful		1,983		1.0	%		1,442		0.8	%		541		2.3	%
	$	205,963		100.0	%	$	182,725		100.0	%	$	23,238		100.0	%

Loan loss reserves

	Six Months Ended June 30, 2012
	Total			Commercial Mortgage Loans			SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,812		$	1,329		$	483
Provision for loan losses		816			726			90
Reduction of loan losses		(223	)		(194	)		(29	)
Principal balances written-off		(799	)		(627	)		(172	)
Balance, end of period	$	1,606		$	1,234		$	372

	Six Months Ended June 30, 2011
	Total			Commercial Mortgage Loans			SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,609		$	1,303		$	306
Provision for loan losses		520			332			188
Reduction of loan losses		(141	)		(118	)		(23	)
Principal balances written-off		(128	)		—			(128	)
Balance, end of period	$	1,860		$	1,517		$	343

Loans considered to be impaired loans

	June 30, 2012						December 31, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans		Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Impaired loans requiring reserves (1)	$	7,222	$	7,047	$	175	$	7,411	$	7,027	$	384
Impaired loans expected to be fully recoverable (1)		802		678		124		846		689		157
Total impaired loans (2)	$	8,024	$	7,725	$	299	$	8,257	$	7,716	$	541
Loan loss reserves	$	213	$	185	$	28	$	563	$	372	$	191

(1) Balances represent our recorded investment and includes loans classified as troubled debt restructurings.

(2) The unpaid principal balance of our impaired commercial loans was $7,955,000 and $7,940,000 at June 30, 2012 and December 31, 2011, respectively. The unpaid principal balance of our impaired SBA 7(a) loans (excluding the government guaranteed portion) was $305,000 and $593,000 at June 30, 2012 and December 31, 2011, respectively.

	Three Months Ended June 30, 2012						Three Months Ended June 30, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans		Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	8,221	$	7,731	$	490	$	2,646	$	2,061	$	585
Interest income on impaired loans	$	98	$	96	$	2	$	2	$	—	$	2
	Six Months Ended June 30, 2012						Six Months Ended June 30, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans		Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	8,237	$	7,726	$	511	$	2,548	$	2,059	$	489
Interest income on impaired loans	$	187	$	182	$	5	$	4	$	—	$	4

Troubled Debt Restructurings

	Recorded Investment		Unpaid Principal Balance
	(In thousands)
Troubled debt restructurings requiring reserves	$	7,047	$	7,220
Troubled debt restructurings without reserves		678		735
Total troubled debt restructurings	$	7,725	$	7,955
Loan loss reserves	$	185