FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of fair value of derivatives and their classification on consolidated balance sheets

The table below presents the fair value of our derivative financial instruments as well as their classification on our consolidated balance sheets:



	December 31,						Balance Sheet
	2017		2016			Level	Location
	(in thousands)
Assets (Liabilities):
Interest rate swaps	$	1,631	$	(509	)	2	Other assets (Other liabilities)

Schedule of estimated fair values of financial instruments not recorded at fair value on consolidated balance sheets

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



	December 31, 2017				December 31, 2016
	Carrying		Estimated		Carrying		Estimated
	Amount		Fair Value		Amount		Fair Value		Level
	(in thousands)
Assets:
Loans receivable subject to credit risk	$	58,904	$	61,277	$	43,623	$	43,621	3
SBA 7(a) loans receivable, subject to secured borrowings	21,728		22,157		29,524		29,976		3
Commercial mortgage loans	424		424		2,593		2,550		3
Liabilities:
Mortgages payable	414,760		413,819		530,793		516,892		3
Junior subordinated notes	25,133		24,162		25,055		25,173		3