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Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value Measurement [Abstract]  
Schedule Of Fair Value Assets Measured On Nonrecurring Basis

 

 

 

Fair Value Measurements Using

 

 

 

 

Quoted prices in

 

 

 

 

 

 

Active Markets

Significant

Significant

Total

 

 

 

for Identical

Other Observable

Unobservable

Impairments (1)

 

 

December 31,

Assets

Inputs

Inputs

For the Year Ended

Description

 

2013

(Level 1)

(Level 2)

(Level 3)

December 31, 2013

Loans measured for

 

 

 

 

 

 

 impairment using the fair value

 

 

 

 

 

 

 of the underlying collateral

$

24,167 

 -

 -

24,167 
4,639 

Impaired real estate held-for-sale and held-for-investment

 

55,955 

 -

 -

55,955 
2,288 

Impaired loans held for sale

 

53,846 

 -

 -

53,846 
4,992 

Total

$

133,968 

 -

 -

133,968 
11,919 

 

(1)

Total impairments represent the amount of losses recognized during the year ended December 31, 2013 on assets that were held and measured at fair value as of December 31, 2013.

 

 

 

 

Fair Value Measurements Using

 

 

 

 

Quoted prices in

 

 

 

 

 

 

Active Markets

Significant

Significant

Total

 

 

As of

for Identical

Other Observable

Unobservable

Impairments (1)

 

 

December 31,

Assets

Inputs

Inputs

For the Year Ended

Description

 

2012

(Level 1)

(Level 2)

(Level 3)

December 31, 2012

Loans measured for

 

 

 

 

 

 

 impairment using the fair value

 

 

 

 

 

 

 of the underlying collateral

$

61,528 

 -

 -

61,528 
5,700 

Impaired  real estate held-for-sale and held-for-investment

 

31,645 

 -

 -

31,645 
8,416 

Impaired loans held for sale

 

24,748 

 -

 -

24,748 
2,577 

Total

$

117,921 

 -

 -

117,921 
16,693 

 

 

(1) Total impairments represent the amount of losses recognized during the year ended December 31, 2012 on assets that were held and measured at fair value as of December 31, 2012.

Schedule Of Quantitative Fair Value Measurements

As of December 31, 2013

 

Fair

Valuation

Unobservable

 

 

Description

 

Value

Technique

Inputs

Range (Average) (1)(2)

 

Loans measured for

 

 

 

 

 

 

 impairment using the fair value

 

 

 

 

 

 

 of the underlying collateral

$

24,167 

Fair Value of Collateral

Appraisal

$0.1 - 9.0 million (0.4 million)

 

Impaired real estate held-for-sale and held-for-investment

 

55,955 

Fair Value of Property

Appraisal

$0.1 - 12.0 million (1.7 million)

 

Impaired loans held for sale

 

53,846 

Fair Value of Collateral

Appraisal

$0.1 - 2.2 million (0.3 million)

 

Total

$

133,968 

 

 

 

 

 

(1)  Range and average appraised values were reduced by costs to sell.

(2)  Average was computed by dividing the aggregate appraisal amounts by the number of appraisals.

 

 

As of December 31, 2012

 

Fair

Valuation

Unobservable

 

 

Description

 

Value

Technique

Inputs

Range (Average) (1)(2)

 

Loans measured for

 

 

 

 

 

 

 impairment using the fair value

 

 

 

 

 

 

 of the underlying collateral

$

61,528 

Fair Value of Collateral

Appraisal

$0.3 - $11.8 million ($3.2 million)

 

Impaired  real estate held-for-sale and held-for-investment

 

31,645 

Fair Value of Property

Appraisal

$0.2 - $8.9 million ($3.3 million)

 

Impaired loans held for sale

 

24,748 

Fair Value of Collateral

Appraisal

$0.1 - $3.1 million ($1.2 million)

 

Total

$

117,921 

 

 

 

 

 

(1)  Range and average appraised values were reduced by costs to sell.

(2)  Average was computed by dividing the aggregate appraisal amounts by the number of appraisals.

 

Schedule Of Fair Value By Balance Sheet Grouping

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements Using

 

 

Carrying

 

Quoted prices in

 

 

 

 

Amount

Fair Value

Active Markets

Significant

Significant

 

 

As of

As of

for Identical

Other Observable

Unobservable

(in thousands)

 

December 31,

December 31,

Assets

Inputs

Inputs

Description

 

2013

2013

(Level 1)

(Level 2)

(Level 3)

Financial assets:

 

 

 

 

 

 

Cash and interest bearing

 

 

 

 

 

 

 deposits in banks

$

43,138 
43,138 
43,138 

-

-

Loans receivable including loans held for sale, net

 

126,072 
131,853 

 -

 -

131,853 

Financial liabilities:

 

 

 

 

 

 

Notes payable

 

8,579 
9,261 

-

 -

9,261 

Notes Payable to related parties

 

21,662 
21,419 

-

 -

21,419 

BB&T preferred interest in FAR

 

68,517 
69,032 

-

 -

69,032 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements Using

 

 

Carrying

 

Quoted prices in

 

 

 

 

Amount

 

Active Markets

Significant

Significant

 

 

As of

As of

for Identical

Other Observable

Unobservable

(in thousands)

 

December 31,

December 31,

Assets

Inputs

Inputs

Description

 

2012

2012

(Level 1)

(Level 2)

(Level 3)

Financial assets:

 

 

 

 

 

 

Cash and interest bearing

 

 

 

 

 

 

 deposits in banks

$

62,873 
62,873 
62,873 

                         -

                     -

Loans receivable including loans held for sale, net

 

317,310 
316,075 

 -

 -

316,075 

Financial liabilities:

 

 

 

 

 

 

Notes payable

 

10,301 
10,301 

 

 

10,301 

BB&T preferred interest in FAR

 

196,877 
201,099 

                                  -

 -

201,099