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Guaranteed loan financing | 9 Months Ended
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Sep. 30, 2022
Guaranteed loan financing. |
Guaranteed loan financing | Note 13. Guaranteed loan financing ​ Participations or other partial loan sales which do not meet the definition of a participating interest remain as an investment in the consolidated balance sheets and the portion sold is recorded as guaranteed loan financing in the liabilities section of the consolidated balance sheets. For these partial loan sales, the interest earned on the entire loan balance is recorded as interest income and the interest earned by the buyer in the partial loan sale is recorded within interest expense in the accompanying consolidated statements of income. Guaranteed loan financings are secured by loans of $284.6 million and $346.1 million as of September 30, 2022 and December 31, 2021, respectively. ​ The table below presents guaranteed loan financing and the related interest rates and maturity dates. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted Average | ​ | Range of | ​ | Range of | ​ |  | ​ | ​
(in thousands) | ​ | Interest Rate | ​ | Interest Rates | ​ | Maturities (Years) | ​ | Ending Balance | ​
September 30, 2022 | ​ | 5.21 | % | 1.45-7.00 | % | 2022-2046 | ​ | $ | 283,822 | ​
December 31, 2021 | ​ | 3.78 | % | 0.99-6.50 | % | 2022-2046 | ​ | $ | 345,217 | ​
​ The table below presents the contractual maturities of guaranteed loan financing. ​
​ | ​ | ​ | ​
(in thousands) |  | September 30, 2022
2022 |  | $ | 338
2023 |  | ​ | 322
2024 |  | ​ | 1,343
2025 |  | ​ | 1,524
2026 | ​ | ​ | 5,034
Thereafter |  | ​ | 275,261
Total | ​ | $ | 283,822
​

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