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Fair Values (Tables)
 6 Months Ended
Jun. 30, 2014
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities recorded at fair value on a recurring and non-recurring basis by levels
The following fair value hierarchy table summarizes the Company's assets and liabilities recorded at fair value on a recurring and non-recurring basis by the above categories ($ in thousands):
 
 
 
Fair Value Using
 
Total
 
Quoted market
prices in
active markets
(Level 1)
 
Significant other
observable
inputs
(Level 2)
 
Significant
unobservable
inputs
(Level 3)
As of June 30, 2014
 
 
 
 
 
 
 
Recurring basis:
 
 
 
 
 
 
 
Derivative assets
$
6,109

 
$
—

 
$
6,109

 
$
—

Derivative liabilities
2,133

 
—

 
2,133

 
—

Non-recurring basis:
 
 
 
 
 
 
 
Impaired loans(1)
39,390

 
—

 
—

 
39,390

Impaired real estate(2)
35,394

 
—

 
—

 
35,394

As of December 31, 2013
 
 
 
 
 
 
 
Recurring basis:
 
 
 
 
 
 
 
Derivative assets
$
11,175

 
$
—

 
$
11,175

 
$
—

Derivative liabilities
1,653

 
—

 
1,653

 
—

Non-recurring basis:
 
 
 
 
 
 
 
Impaired loans
115,423

 
—

 
—

 
115,423

Impaired real estate
35,680

 
—

 
5,744

 
29,936


Explanatory Notes:
_______________________________________________________________________________

(1)
The Company recorded a recovery of loan losses on one loan with a fair value of $35.1 million based on the loan's remaining term of 2.0 years and interest rate of 4.7% using discounted cash flow analysis. In addition, the Company recorded a recovery of loan losses on one loan with a fair value of $4.3 million based upon a settlement agreement executed by the borrower.
(2)
The Company recorded impairment on one real estate asset with a fair value of $35.4 million based on a discount rate of 10.0%, average annual revenue growth of 3.0% and remaining inventory sell out period of 1.5 years using discounted cash flows.