Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Impaired Loans Measured at Fair Value on Nonrecurring Basis

For impaired loans measured at fair value on a nonrecurring basis, the following table provides the estimated fair value of the related individual assets. We used Level 3 inputs to determine the estimated fair value of our impaired loans as follows:

	December 31,
	2013		2012
	(In thousands)
Impaired loans (1)	$	6,682	$	11,637

(1) Represents carrying value determined based on management’s assessment of the estimated 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.

Activity for Real Estate Owned

The following is the activity for our REO:

	Years Ended December 31,
	2013		2012
	(In thousands)
Value - beginning of year	$	739	$	1,259
Foreclosures		3,641		1,481
Cost of sales		(2,799)		(1,660)
Impairment losses		(135)		(341)
Value - end of year	$	1,446	$	739

Estimated Fair Values of Financial Instruments

The estimated fair values of those financial instruments which are not recorded at fair value on our consolidated balance sheets were as follows:

	December 31,
	2013				2012
	Carrying   Amount		Estimated   Fair Value		Carrying Amount		Estimated   Fair Value		Level
	(In thousands)
Assets:
Loans Receivable Subject To Credit Risk	$	198,750	$	184,453	$	200,642	$	181,112		3
SBA 7(a) loans receivable, subject to secured borrowings		37,839		42,490		38,349		43,096		3
Liabilities:
SBIC debentures payable		27,500		25,790		17,190		18,027		3
Secured borrowings - government guaranteed loans		40,427		40,427		41,008		41,008		3
Revolving credit facility		14,400		14,400		11,900		11,900		3
Junior Subordinated Notes		27,070		25,197		27,070		22,592		3