Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value Measurements [Abstract]

Impaired loans measured at fair value on a nonrecurring basis

For impaired loans measured at fair value on a nonrecurring basis during the nine months ended September 30, 2012 and 2011, the following table provides the carrying value of the related individual assets at quarter end. We used Level 3 inputs to determine the estimated fair value of our impaired loans.

	Carrying Value at September 30,				Provision for Loan Losses Nine Months Ended September 30, (2)
	2012		2011		2012		2011
	(In thousands)
Impaired loans (1)	$	12,546	$	8,832	$	341	$	335

(1) Carrying value represents our impaired loans net of loan loss reserves. Our carrying value is determined based on management’s assessment of the fair value of the collateral based on numerous factors including operating statistics to the extent available, appraised value of the collateral, tax assessed value and market environment.

(2) Represents the net change in the provision for loan losses included in our consolidated statements of income (loss) related specifically to our impaired loans during the periods presented.

Activity for real estate owned

The following is activity for our real estate owned:

	Nine Months Ended September 30,
	2012			2011
	(In thousands)
Value - beginning of year	$	1,259		$	3,477
Foreclosures		1,481			409
Cost of sales		(1,537	)		(1,331	)
Impairment losses		(208	)		(650	)
Value - end of period	$	995		$	1,905

Estimated fair values of financial instruments

The estimated fair values of our financial instruments were as follows:

	September 30,				December 31,
	2012				2011
			Estimated				Estimated
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
	(In thousands)
Assets:
Loans receivable, net	$	241,914	$	226,621	$	234,427	$	224,395
Liabilities:
SBIC debentures and structured notes payable		17,187		18,334		18,445		19,027
Secured borrowings - government guaranteed loans		41,287		41,287		32,546		32,546
Revolving credit facility		15,000		15,000		17,800		17,800
Junior subordinated notes		27,070		22,586		27,070		22,595