FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2020

Fair Values of Financial Instrument Not Recorded at Fair Value on a Recurring Basis

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:



	March 31, 2020				December 31, 2019
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value		Level
	(in thousands)
Assets:
SBA 7(a) loans receivable, subject to loan-backed notes	$	25,579	$	27,781	$	27,595	$	30,076	3
SBA 7(a) loans receivable, subject to credit risk	28,967		30,679		27,802		29,794		3
SBA 7(a) loans receivable, subject to secured borrowings	10,624		10,720		12,682		12,780		3
Liabilities:
Mortgages payable	96,933		104,937		96,926		99,764		3
Junior subordinated notes	25,321		24,354		25,299		24,406		3