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Commercial Loans (Tables)

9 Months Ended

Sep. 30, 2015

Commercial Loans Held For Investment

Accounts, Notes, Loans and Financing Receivable [Line Items]

Commercial Loans Held-for-Investment by Risk Category

The following table presents the principal balance of commercial loans held-for-investment by risk category.

Table 7.3 – Principal Balance of Commercial Loans Held-for-Investment by Risk Category

(In Thousands)		September 30, 2015				December 31, 2014
Pass		$	303,462			$	316,122
Watch list		25,463				25,628
Total Commercial Loans Held-for-Investment		$	328,925			$	341,750

Commercial Loans

Accounts, Notes, Loans and Financing Receivable [Line Items]

Classifications and Carrying Value of Loans

The following table summarizes the classifications and carrying value of commercial loans at September 30, 2015 and December 31, 2014.

Table 7.1 – Classifications and Carrying Value of Commercial Loans

(In Thousands)		September 30, 2015				December 31, 2014
Held-for-sale, at fair value		$	80,756			$	166,234
Held-for-investment
At fair value		70,096				71,262
At amortized cost		317,305				329,431
Total Commercial Loans		$	468,157			$	566,927

Carrying Value for Loans Held-for-Investment

The following table provides additional information for our commercial loans held-for-investment at amortized cost at September 30, 2015 and December 31, 2014.

Table 7.2 – Carrying Value for Commercial Loans Held-for-Investment

(In Thousands)		September 30, 2015				December 31, 2014
Principal balance		$	328,925			$	341,750
Unamortized discount, net		(4,279		)		(4,862		)
Recorded investment		324,646				336,888
Allowance for loan losses		(7,341		)		(7,457		)
Carrying Value		$	317,305			$	329,431

Summary of Activity in Allowance for Loans Losses

The following table summarizes the activity in the allowance for commercial loan losses for the three and nine months ended September 30, 2015 and 2014.

Table 7.4 – Activity in the Allowance for Commercial Loan Losses

		Three Months Ended September 30,								Nine Months Ended September 30,
(In Thousands)		2015				2014				2015				2014
Balance at beginning of period		$	7,401			$	8,317			$	7,456			$	7,373
Charge-offs, net		—				—				—				—
(Reversal of) provision for loan losses		(60		)		(888		)		(115		)		56
Balance at End of Period		$	7,341			$	7,429			$	7,341			$	7,429

Collectively Evaluated for Impairment | Commercial Loans

Accounts, Notes, Loans and Financing Receivable [Line Items]

Loans Evaluated for Impairment

The following table summarizes the balances for loans collectively evaluated for impairment at September 30, 2015 and December 31, 2014.

Table 7.5 – Loans Collectively Evaluated for Impairment Review

(In Thousands)		September 30, 2015				December 31, 2014
Principal balance		$	328,925			$	341,750
Recorded investment		324,646				336,888
Related allowance		7,341				7,457

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