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Net Investment in Direct Financing Lease | 6 Months Ended
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Jun. 30, 2012
Net Investment in Direct Financing Lease [Abstract] |
Net Investment in Direct Financing Lease | Note 10. Net Investment in Direct Financing Lease During the second quarter of 2010, the Corporation entered into a lease of its former operations facility under a direct financing lease. The lease has a 15 year term with no renewal options. According to the terms of the lease, the lessee has an obligation to purchase the property underlying the lease in either year seven (7), ten (10) or fifteen (15) at predetermined prices for those years as provided in the lease. The structure of the minimum lease payments and the purchase prices as provided in the lease provide an inducement to the lessee to purchase the property in year seven (7). At June 30, 2012 and December 31, 2011, the net investment in direct financing lease consists of a minimum lease receivable of $4,792,000 and $4,870,000, respectively, and unearned interest income of $1,026,000 and $1,123,000, respectively, for a net investment in direct financing lease of $3,766,000 and $3,747,000, respectively. The net investment in direct financing lease is carried as a component of loans in the Corporation's consolidated statements of condition. ## Minimum future lease receipts of the direct financing lease are as follows:
|  | June 30, 2012 |
For years ending December 31, |  | (in thousands) |
2012 |  | $ | 93 |
2013 |  |  | 216 |
2014 |  |  | 216 |
2015 |  |  | 228 |
2016 |  |  | 265 |
Thereafter |  |  | 2,748 |
Total minimum future lease receipts |  | $ | 3,766 |

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- Definition The entire disclosure for lessor entity's leasing arrangements for operating, capital and leveraged leases. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41457-112716 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 47 -URI http://asc.fasb.org/extlink&oid=6584217&loc=d3e38847-112698 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6952072&loc=d3e45437-112738 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6952072&loc=d3e45377-112738 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6454179&loc=d3e41551-112718 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6952072&loc=d3e45424-112738 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 13 -Paragraph 23 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41460-112716 + Details
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