OPERATING SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2014

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS - Operating segment information for the three & nine months ended September 30, 2014 and 2013

The Company’s segments are based on our method of internal reporting which classifies operations by the type of property in the portfolio. The Company’s segments by use of property are land and other (dollars in thousands):

	Commercial
For the Twelve Months Ended December 31, 2014	Properties		Land			Other		Total
Operating revenue	$	-	$	-		$	-	$	-
Operating expenses		-		50			-		50
Mortgage and loan interest		-		674			-		674
Loan charges		-		32			-		32
Interest income		-		-			4,729		4,729
Segment operating income (loss)	$	-	$	(756	)	$	4,729	$	3,973
Capital expenditures		-		-			-		-
Assets		-		25,717			-		25,717
Property Sales
Sales price	$	-	$	-		$	-	$	-
Cost of sale		-		-			-		-
Deferred current gain		-		-			-		-
Recognized prior deferred gain		-		-			-		-
Gain on sale	$	-	$	-		$	-	$	-
	Commercial
	Properties		Land			Other		Total
For the Twelve Months Ended December 31, 2013
Operating revenue	$	-		-			-	$	-
Operating expenses		-		87			-		87
Mortgage and loan interest		-		1,160			-		1,160
Loan charges		-		830			-		830
Interest income		-		-			7,129		7,129
Segment operating income (loss)	$	-	$	(2,077	)	$	7,129	$	5,052
Capital expenditures		-		-			-		-
Assets		-		24,511			-		24,511
Property Sales
Sales price	$	-	$	-		$	-	$	-
Cost of sale		-		-			-		-
Deferred current gain		-		-			-		-
Recognized prior deferred gain		-		-			-		-
Gain on sale	$	-	$	-		$	-	$	-

	Commercial
	Properties		Land			Other		Total
For the Twelve Months Ended December 31, 2012
Operating revenue	$	-	$	-		$	-	$	-
Operating expenses		-		67			-		67
Mortgage and loan interest		-		1,284			-		1,284
Interest income		-		-			5,183		5,183
Segment operating income (loss)	$	-	$	(1,351	)	$	5,183		3,832
Capital expenditures		-		-			-		-
Assets		-		24,511			-		24,511
Property Sales
Sales price	$	-	$	-		$	-	$	-
Cost of sale		-		-			-		-
Deferred current gain		-		-			-		-
Recognized prior deferred gain		-		-			-		-
Gain (loss) on sale	$	-	$	-		$	-	$	-

OPERATING SEGMENTS - Reconciles the segment information to the corresponding amounts in the Consolidated Statements of Operations and Balance Sheets:

The tables below reconcile the segment information to the corresponding amounts in the Consolidated Statements of Operations (dollars in thousands):

	2014			2013			2012
Segment operating income	$	3,973		$	5,052		$	3,832
Other non-segment items of income (expense)
General and administrative		(573	)		(734	)		(334	)
Net income fee		(203	)		(695	)		(180	)
Advisory fee to related party		(692	)		(830	)		(815	)
Other income		-			5,804			-
Equity from unconsolidated subsidiaries and investees		-			-			(37	)
Income tax expense		(946	)		(3,063	)		(876	)
Income from continuing operations	$	1,559		$	5,534		$	1,590

OPERATING SEGMENTS - Operating segment information to the corresponding amounts in the Consolidated Balance Sheets

The table below reconciles the segment information to the corresponding amounts in the Consolidated Balance Sheets (dollars in thousands):

	2014		2013		2012
Segment assets	$	25,717	$	24,511	$	24,511
Notes and interest receivable		25,635		28,867		25,176
Other assets and receivables		41,724		40,435		59,819
Total assets	$	93,076	$	93,813	$	109,506