FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2018

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
	2018		2017		Level	Location
	(in thousands)
Assets:
Interest rate swaps	$	1,630	$	1,631	2	Other assets

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, 2018				December 31, 2017
	Carrying		Estimated		Carrying		Estimated
	Amount		Fair Value		Amount		Fair Value		Level
	(in thousands)
Assets:
SBA 7(a) loans receivable, subject to loan-backed notes	$	37,031	$	38,357	$	—	$	—	3
SBA 7(a) loans receivable, subject to credit risk	29,748		30,630		58,904		61,277		3
SBA 7(a) loans receivable, subject to secured borrowings	16,469		16,706		21,728		22,157		3
Commercial mortgage loans receivable	—		—		424		424		3
Liabilities:
Mortgages payable (1)	386,923		377,364		414,760		413,819		3
Junior subordinated notes	25,215		24,462		25,133		24,162		3