The Company had the following debt outstanding as of December 31, 2012 and 2011, respectively:

DETAIL OF DEBT

(Dollars in Thousands)


Description	Current Outstanding Par			December 31, 2012		December 31, 2011		Interest Rate Terms			Weighted Average Interest Rate at 12/31/2012			Weighted Average Maturity
Contingent convertible senior notes:
7.625% Contingent convertible senior notes (the “Old Notes”)	$	—		$	—		10,303		N/A			N/A			July 2012	(1)
10.50% Contingent convertible senior notes (the “New Notes”)		8,121			8,068		8,030		10.50	%		10.50	%		May 2014	(2)

	$	8,121			8,068		18,333

Junior subordinated notes:
Alesco Capital Trust I	$	28,125	(3)		10,189		10,404		4.31	%		4.31	%		July 2037
Sunset Financial Statutory Trust I		20,000	(3)		7,248		6,939		4.46	%		4.46	%		March 2035

	$	48,125	(3)		17,437		17,343

Subordinated notes payable	$	342			342		1,491		12.00	%(4)		12.00	%		June 2013

Total				$	25,847	$	37,167

(1)	Represents the date the Company redeemed the remaining $100 aggregate principal amount of Old Notes outstanding for cash.

(2)	Represents the holder’s earliest put date and the Company’s earliest redemption date. The contractual maturity for the New Notes is May 2027.

The Company may redeem all or part of the $8,121 aggregate principal amount of the New Notes for cash on or after May 20, 2014, at a redemption price equal to 100% of the principal amount of the New Notes, plus accrued and unpaid interest and additional interest, if any, to, but excluding the repurchase date. The holders of the New Notes may require the Company to repurchase all or a portion of the New Notes for cash on May 15, 2014; May 15, 2017; and May 15, 2022 for a repurchase price equal to 100% of the principal amount of the New Notes, plus accrued and unpaid interest and additional interest, if any, to, but excluding, the repurchase date. The holders of the New Notes are required to provide notice to the Company of their plan to redeem the New Notes at any time during the 30 days prior to May 15, 2014; May 15, 2017; and May 15, 2022.

(3)

The outstanding par amount represents the total par amount of the junior subordinated notes held by two separate VIE trusts. The Company does not consolidate these trusts. The Company holds $1,489 par value of these junior subordinated notes, comprised of $870 par value of junior subordinated notes related to Alesco Capital Trust I and $619 par value of junior subordinated notes related to Sunset Financial Statutory Trust I. These notes have a carrying value of $0. Therefore, the net par value held by third parties is $48,125.

(4)	Comprised of 9% paid currently and 3% paid in kind.