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Loans Receivable Loans Receivable (Tables) | 6 Months Ended
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Jun. 30, 2024
Receivables [Abstract] |
Schedule of Loans Receivable | At June 30, 2024 and December 31, 2023, loans receivable were as follows:
(In thousands) | June 30, 2024 |  | December 31, 2023
Amortized cost (net of allowance for expected credit losses): |  |  |
Real estate loans | $ | 347,742 |  |  | $ | 200,381 |
Commercial loans | 1,583 |  |  | 890 |
Total | $ | 349,325 |  |  | $ | 201,271 |
Fair value: |  |  |
Real estate loans | $ | 347,727 |  |  | $ | 197,354 |
Commercial loans | 1,583 |  |  | 890 |
Total | $ | 349,310 |  |  | $ | 198,244 |
Financing Receivable, Allowance for Credit Loss | The following table presents the rollforward of the allowance for expected credit losses for loans receivable for the six months ended June 30, 2024 and 2023:
| 2024 |  | 2023
(In thousands) | Real Estate Loans |  | Commercial Loans |  | Total |  | Real Estate Loans |  | Commercial Loans |  | Total
Allowance for expected credit losses, beginning of period | $ | 2,983 |  |  | $ | 21 |  |  | $ | 3,004 |  |  | $ | 1,100 |  |  | $ | 691 |  |  | $ | 1,791 |
Change in expected credit losses | (1,190) |  |  | (1) |  |  | (1,191) |  |  | 2,558 |  |  | 201 |  |  | 2,759 |
Allowance for expected credit losses, end of period | $ | 1,793 |  |  | $ | 20 |  |  | $ | 1,813 |  |  | $ | 3,658 |  |  | $ | 892 |  |  | $ | 4,550 |
During the six months ended June 30, 2024, the Company decreased the allowance for expected credit losses due to a decrease in the weighted average life of the loan portfolio. During the six months ended June 30, 2023, the Company increased the allowance for expected credit losses due to changes in economic assumptions utilized in its credit loss model. The following table presents the rollforward of the allowance for expected credit losses for loans receivable for the three months ended June 30, 2024 and 2023:
| 2024 |  | 2023
(In thousands) | Real Estate Loans |  | Commercial Loans |  | Total |  | Real Estate Loans |  | Commercial Loans |  | Total
Allowance for expected credit losses, beginning of period | $ | 2,587 |  |  | $ | 22 |  |  | $ | 2,609 |  |  | $ | 1,039 |  |  | $ | 570 |  |  | $ | 1,609 |
Change in expected credit losses | (794) |  |  | (2) |  |  | (796) |  |  | 2,619 |  |  | 322 |  |  | 2,941 |
Allowance for expected credit losses, end of period | $ | 1,793 |  |  | $ | 20 |  |  | $ | 1,813 |  |  | $ | 3,658 |  |  | $ | 892 |  |  | $ | 4,550 |

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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