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Debt (Tables) | 12 Months Ended
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Dec. 31, 2013
Debt [Abstract] |
Debt Outstanding |
DETAIL OF DEBT
(Dollars in Thousands)
Description |  | Current Outstanding Par |  |  | December 31, 2013 |  | December 31, 2012 |  | Interest Rate Terms |  | Interest (5) |  | Maturity
Contingent convertible senior notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
10.50% contingent convertible senior notes (the "New Notes") |  | $ | 3,121 |  |  | $ | 3,115 |  | $ | 8,068 |  | 10.50% |  |  | 10.50 | % |  | May 2014 (1)
8.00% contingent convertible senior notes (the "8.0% Convertible Notes") |  |  | 8,248 |  |  |  | 8,248 |  |  | - |  | 8.00% |  |  | 8.00 | % |  | September 2018 (2)
|  | $ | 11,369 |  |  | $ | 11,363 |  |  | 8,068 |  |  |  |  |  |  |  |
Junior subordinated notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alesco Capital Trust I |  | $ | 28,125 | (3) |  |  | 10,697 |  |  | 10,189 |  | 4.25% |  |  | 4.25 | % |  | July 2037
Sunset Financial Statutory Trust I |  |  | 20,000 | (3) |  |  | 7,614 |  |  | 7,248 |  | 4.40% |  |  | 4.40 | % |  | March 2035
|  | $ | 48,125 |  |  |  | 18,311 |  |  | 17,437 |  |  |  |  |  |  |  |
Subordinated notes payable |  | $ | - |  |  |  | - |  |  | 342 |  | 12.00% | (4) |  | 12.00 | % |  | June 2013
Total |  |  |  |  |  | $ | 29,674 |  | $ | 25,847 |  |  |  |  |  |  |  |
(1)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 $3,121 aggregate principal amount of the New Notes for cash on or after May 20, 2014, at a redemption price equal to 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 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. (2)The holders of the 8.0% Convertible Notes may convert all or any part of the outstanding principal amount of the 8.0% Convertible Notes at any time prior to maturity into shares of the Company’s Common Stock at a conversion price of $3.00 per share, subject to customary anti-dilution adjustments. (3)The outstanding par represents the total par amount of the junior subordinated notes held by two separate 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. The subordinated note payable was fully repaid in June 2013. (5)R epresents the interest rate as of the last day of the reporting period.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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