XML 91 R92.htm IDEA: XBRL DOCUMENT v3.3.0.814
Fair Values (Schedule of Fair Value Measurement) (Details)
$ in Thousands
9 Months Ended 12 Months Ended
Sep. 30, 2015
USD ($)
Loan
real_estate_asset
Sep. 30, 2014
Dec. 31, 2014
USD ($)
Loan
real_estate_asset
Assets and liabilities recorded at fair value      
Expected term 1 year 9 months    
Recurring basis | Quoted market prices in active markets (Level 1)      
Assets and liabilities recorded at fair value      
Available-for-sale securities [1]     $ 7,906
Recurring basis | Significant other observable inputs (Level 2)      
Assets and liabilities recorded at fair value      
Derivative assets [1] $ 1,755   6,361
Derivative liabilities [1] 426   478
Recurring basis | Significant unobservable inputs (Level 3)      
Assets and liabilities recorded at fair value      
Available-for-sale securities [1] 1,131    
Non-recurring basis | Significant unobservable inputs (Level 3)      
Assets and liabilities recorded at fair value      
Impaired loans 29,200 [2]   37,169 [3]
Impaired real estate 7,941 [4]   7,102 [5]
Total | Recurring basis      
Assets and liabilities recorded at fair value      
Derivative assets [1] 1,755   6,361
Derivative liabilities [1] 426   478
Available-for-sale securities [1] 1,131   7,906
Total | Non-recurring basis      
Assets and liabilities recorded at fair value      
Impaired loans 29,200 [2]   37,169 [3]
Impaired real estate 7,941 [4]   7,102 [5]
Loans Receivable One | Non-recurring basis | Significant unobservable inputs (Level 3)      
Assets and liabilities recorded at fair value      
Impaired loans [2] 24,000    
Loans Receivable Two | Non-recurring basis | Significant unobservable inputs (Level 3)      
Assets and liabilities recorded at fair value      
Impaired loans [2] $ 5,200    
Discounted Cash Flow Valuation Technique | Loans Receivable One | Non-recurring basis      
Assets and liabilities recorded at fair value      
Number of Impaired Loans | Loan 1    
Discounted Cash Flow Valuation Technique | Loans Receivable Two | Non-recurring basis      
Assets and liabilities recorded at fair value      
Impaired loans [2]     $ 8,500
Number of Impaired Loans | Loan 1   1
Weighted average expected term     1 year 6 months
Discount rate (as a percent)     4.70%
Discounted Cash Flow Valuation Technique | Loans Receivable Three | Non-recurring basis      
Assets and liabilities recorded at fair value      
Number of Impaired Real Estate Assets | real_estate_asset 1    
Number of Impaired Loans | Loan     1
Discounted Cash Flow Valuation Technique | Commercial Operating Properties | Non-recurring basis      
Assets and liabilities recorded at fair value      
Impaired real estate $ 6,500    
Discount rate (as a percent) 11.00%    
Discounted Cash Flow Valuation Technique | Land & Development | Non-recurring basis      
Assets and liabilities recorded at fair value      
Impaired real estate     $ 7,100
Number of Impaired Real Estate Assets | real_estate_asset     1
Discount rate (as a percent)     15.00%
Expected term   10 years  
Purchase Option Valuation Technique | Commercial Operating Properties | Non-recurring basis      
Assets and liabilities recorded at fair value      
Impaired real estate $ 1,400    
Market Approach Valuation Technique | Loans Receivable Three | Non-recurring basis      
Assets and liabilities recorded at fair value      
Impaired loans [2]     $ 5,200
Executed Foreclosure Sale Agreement | Loans Receivable Three | Non-recurring basis      
Assets and liabilities recorded at fair value      
Impaired loans     $ 23,500
Number of Impaired Loans | Loan     1
[1] The fair value of the Company's derivatives and available-for-sale securities are based upon third-party broker quotes.
[2] The Company recorded a provision for loan losses on one loan with a fair value of $24.0 million based on the expected proceeds to be received from the borrower. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal.
[3] The Company recorded a recovery of loan losses on one loan with a fair value of $8.5 million based on the loan's remaining term of 1.5 years and interest rate of 4.7% using discounted cash flow analysis. The Company also recorded a provision for loan losses on one loan with a fair value of $5.2 million based on an appraisal. In addition, the Company recorded a provision for loan losses on one loan, collateralized by a land asset, with a fair value of $23.5 million based upon a foreclosure sale agreement. The land asset was acquired by an unconsolidated entity in which the Company is a partner.
[4] The Company recorded an impairment on one real estate asset with a fair value of $6.5 million based on a discount rate of 11% using discounted cash flows over a 1.75 year hold period. The Company recorded an impairment on one real estate asset with a fair value of $1.4 million based on a purchase option granted.
[5] The Company recorded impairment on one real estate asset with a fair value of $7.1 million based on a discount rate of 15.0% using discounted cash flows over a 10 year lease term.