View Filing Data

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2012	Aug. 01, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	PMC COMMERCIAL TRUST /TX
Entity Central Index Key	0000908311
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		10,589,554

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Loans receivable, net:
Commercial mortgage loans receivable	$ 138,332	$ 133,327
SBIC commercial mortgage loans receivable	39,222	32,153
SBA 7(a) loans receivable, subject to secured borrowings	37,543	30,476
SBA 7(a) loans receivable	28,662	22,997
Commercial mortgage loans receivable, subject to structured notes payable		15,474
Loans receivable, net	243,759	234,427
Real estate owned	2,539	1,259
Cash and cash equivalents	1,309	6,502
Restricted cash and cash equivalents	0	2,233
Other assets	7,246	6,826
Total assets	254,853	251,247
Debt:
Secured borrowings - government guaranteed loans	40,213	32,546
Junior subordinated notes	27,070	27,070
Revolving credit facility	21,000	17,800
SBIC debentures payable	13,187	13,181
Structured notes payable		5,264
Debt	101,470	95,861
Borrower advances	4,811	3,863
Accounts payable and accrued expenses	3,076	2,095
Dividends payable	1,717	1,692
Total liabilities	111,074	103,511
Commitments and contingencies
Beneficiaries' equity:
Common shares of beneficial interest; authorized 100,000,000 shares of $0.01 par value; 11,125,883 and 11,110,883 shares issued at June 30, 2012 and December 31, 2011, respectively; 10,589,554 and 10,574,554 shares outstanding at June 30, 2012 and December 31, 2011, respectively	111	111
Additional paid-in capital	153,041	152,934
Net unrealized appreciation of retained interests in transferred assets	288	394
Cumulative net income	175,526	176,096
Cumulative dividends	(181,186)	(177,798)
Beneficiaries' equity before treasury stock	147,780	151,737
Less: Treasury stock; at cost, 536,329 shares at June 30, 2012 and December 31, 2011	(4,901)	(4,901)
Total beneficiaries' equity	142,879	146,836
Noncontrolling interests - cumulative preferred stock of subsidiary	900	900
Total equity	143,779	147,736
Total liabilities and equity	$ 254,853	$ 251,247

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2012	Dec. 31, 2011
Consolidated Balance Sheets [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	11,125,883	11,110,883
Common stock, shares outstanding	10,589,554	10,574,554
Treasury stock, shares	536,329	536,329

Consolidated Statements of Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenues:
Interest income	$ 3,433	$ 3,389	$ 6,831	$ 6,756
Premium income	278	128	391	559
Other income	253	330	529	588
Total revenues	3,964	3,847	7,751	7,903
Expenses:
Salaries and related benefits	1,115	1,099	2,259	2,216
Strategic alternatives	1,352		2,202
Interest	876	957	1,759	1,930
General and administrative	538	544	998	1,048
Provision for loan losses, net	118	66	593	379
Total expenses	3,999	2,666	7,811	5,573
Income (loss) before income tax benefit (provision) and discontinued operations	(35)	1,181	(60)	2,330
Income tax benefit (provision)	(58)	54	(39)	29
Income (loss) from continuing operations	(93)	1,235	(99)	2,359
Discontinued operations	(322)	104	(471)	(104)
Net income (loss)	$ (415)	$ 1,339	$ (570)	$ 2,255
Weighted average shares outstanding:
Basic	10,586	10,570	10,581	10,566
Diluted	10,607	10,626	10,599	10,621
Basic and diluted earnings (loss) per share:
Income (loss) from continuing operations	$ (0.01)	$ 0.12	$ (0.01)	$ 0.22
Discontinued operations	(0.03)	0.01	(0.04)	(0.01)
Net income (loss)	$ (0.04)	$ 0.13	$ (0.05)	$ 0.21

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ (415)	$ 1,339	$ (570)	$ 2,255
Change in unrealized appreciation of retained interests in transferred assets:
Net unrealized appreciation (depreciation) arising during period	(31)	51	(40)	118
Net realized gains included in net income (loss)	(30)	(25)	(66)	(45)
Change in unrealized appreciation of retained interests in transferred assets	(61)	26	(106)	73
Comprehensive income (loss)	$ (476)	$ 1,365	$ (676)	$ 2,328

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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- Definition

Tax effect of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest.

+ References

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+ Details

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Shares of Beneficial Interest Outstanding	Additional Paid-in Capital	Net Unrealized Appreciation of Retained Interests in Transferred Assets	Cumulative Net Income	Cumulative Dividends	Treasury Stock	Cumulative Preferred Stock of Subsidiary
Beginning Balance, shares at Dec. 31, 2010		10,559,554
Beginning Balance at Dec. 31, 2010	$ 150,560	$ 111	$ 152,756	$ 276	$ 172,449	$ (171,031)	$ (4,901)	$ 900
Other Comprehensive Income (Loss), Tax	73			73
Share-based compensation expense	147		147
Share-based compensation expense, shares		15,000
Dividends ($0.32 per share)	(3,383)					(3,383)
Net income	2,255				2,255
Ending Balance at Jun. 30, 2011	$ 149,652	$ 111	152,903	349	174,704	(174,414)	(4,901)	900
Ending Balance, shares at Jun. 30, 2011		10,574,554
Beginning Balance, shares at Dec. 31, 2011	10,574,554	10,574,554
Beginning Balance at Dec. 31, 2011	$ 147,736	$ 111	152,934	394	176,096	(177,798)	(4,901)	900
Other Comprehensive Income (Loss), Tax	(106)			(106)
Share-based compensation expense	107		107
Share-based compensation expense, shares		15,000
Dividends ($0.32 per share)	(3,388)					(3,388)
Net income	(570)				(570)
Ending Balance at Jun. 30, 2012	$ 143,779	$ 111	$ 153,041	$ 288	$ 175,526	$ (181,186)	$ (4,901)	$ 900
Ending Balance, shares at Jun. 30, 2012	10,589,554	10,589,554

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Tax effect of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest.

+ References

+ Details

- Definition

Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.

+ References + Details

- Definition

Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.

+ References + Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References + Details

Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cumulative Dividends
Dividends per share	$ 0.32	$ 0.32

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities:
Net income (loss)	$ (570)	$ 2,255
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Impairment losses	201	232
Net gains on sales of real estate		(570)
Deferred income taxes	(119)	(231)
Provision for loan losses, net	593	379
Unrealized premium adjustment	864	642
Amortization and accretion, net	(70)	(19)
Share-based compensation	107	147
Capitalized loan origination costs	(186)	(96)
Loans funded, held for sale	(13,564)	(10,743)
Proceeds from sale of guaranteed loans	4,181	6,015
Principal collected on loans	333	294
Loan fees remitted, net	(40)	(78)
Change in operating assets and liabilities:
Other assets	(446)	(533)
Borrower advances	948	178
Accounts payable and accrued expenses	787	(485)
Other liabilities	96	(32)
Net cash used in operating activities	(6,885)	(2,645)
Cash flows from investing activities:
Loans funded	(13,045)	(3,233)
Principal collected on loans	10,883	9,429
Principal collected on retained interests in transferred assets	56	70
Purchase of furniture and equipment	(11)	(31)
Proceeds from sales of real estate owned, net		111
Proceeds from unconsolidated subsidiary		1,373
Release of (investment in) restricted cash and cash equivalents	2,233	(1,425)
Net cash provided by investing activities	116	6,294
Cash flows from financing activities:
Proceeds from (repayment of) revolving credit facility, net	3,200	(1,000)
Payment of principal on structured notes payable	(5,264)	(2,705)
Proceeds from secured borrowings - government guaranteed loans	7,336	5,980
Payment of principal on secured borrowings - government guaranteed loans	(333)	(294)
Payment of borrowing costs		(182)
Payment of dividends	(3,363)	(3,381)
Net cash provided by (used in) financing activities	1,576	(1,582)
Net increase (decrease) in cash and cash equivalents	(5,193)	2,067
Cash and cash equivalents, beginning of year	6,502	2,642
Cash and cash equivalents, end of period	$ 1,309	$ 4,709

Basis of Presentation

6 Months Ended

Jun. 30, 2012

Basis of Presentation [Abstract]

Basis of Presentation

Note 1. Basis of Presentation:

The accompanying interim financial statements of PMC Commercial Trust (“PMC Commercial” or together with its wholly-owned subsidiaries, “we,” “us” or “our”) have not been audited by independent accountants. These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statement presentation. In the opinion of management, the financial statements include all normal recurring adjustments necessary for a fair statement of the results for the interim period. All material intercompany balances and transactions have been eliminated. The results for the three and six months ended June 30, 2012 are not necessarily indicative of future financial results. Therefore, these financial statements should be read in conjunction with the financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2011.

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect (1) the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and (2) the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. Our most sensitive estimates involve the valuation of our real estate owned and determination of loan loss reserves.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

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+ Details

Recently Issued Accounting Pronouncements

6 Months Ended

Jun. 30, 2012

Recently Issued Accounting Pronouncements [Abstract]

Recently Issued Accounting Pronouncements

Note 2. Recently Issued Accounting Pronouncements:

Accounting Standards Update (“ASU”) 2011-04, Fair Value Measurement (Topic 820); Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP was issued in May 2011. This ASU provides additional guidance on fair value measurements and requires additional fair value disclosures including quantitative and qualitative information for recurring Level 3 fair value measurements. In addition, entities must report the level in the fair value hierarchy of assets and liabilities not recorded at fair value but where fair value is disclosed. This ASU was effective for interim and annual periods beginning on or after December 15, 2011.

- Definition

The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.

+ References + Details

Loans Receivable, net

6 Months Ended

Jun. 30, 2012

Loans Receivable, net [Abstract]

Loans Receivable, net

Note 3. Loans Receivable, net:

Loans receivable, net, consisted of the following:


	June 30, 2012			December 31, 2011
	(In thousands)
Commercial mortgage loans	$	139,739		$	134,835
SBIC commercial mortgage loans		39,524			32,416
SBA 7(a) loans, subject to secured borrowings		37,155			30,151
SBA 7(a) loans (1)		28,662			23,238
Commercial mortgage loans, subject to structured notes payable (2)		—			15,474

Total loans receivable		245,080			236,114
Adjusted by:
Deferred capitalized costs, net		285			125
Loan loss reserves		(1,606	)		(1,812	)

Loans receivable, net	$	243,759		$	234,427

(1)

At June 30, 2012, includes $5.4 million of the government guaranteed portion of certain SBA 7(a) loans which were held for sale. Of this, $3.3 million were sold during July 2012.

(2)

We repaid the structured notes on February 15, 2012.

Commercial mortgage loans

Represents the loans held by our parent company, PMC Commercial Trust.

SBIC commercial mortgage loans

Represents loans of our licensed Small Business Investment Company (“SBIC”) subsidiaries.

SBA 7(a) loans, subject to secured borrowings

Represents the government guaranteed portion of loans which were sold with the proceeds received from the sale reflected as secured borrowings – government guaranteed loans (a liability on our consolidated balance sheet). There is no credit risk associated with these loans since the SBA has guaranteed payment of the principal.

SBA 7(a) loans

Represents the non-government guaranteed retained portion of loans originated under the SBA 7(a) program and the government guaranteed portion of loans that have not yet been fully funded or sold. The balance is net of retained loan discounts of $1.6 million at both June 30, 2012 and December 31, 2011.

Commercial mortgage loans, subject to structured notes payable

Represented loans contributed to a special purpose entity in exchange for a subordinated financial interest in that entity. The collateral of the structured notes payable included these loans. The structured notes were repaid on February 15, 2012.

Concentration Risks

We have certain concentrations of investments. Substantially all of our revenue is generated from loans collateralized by hospitality properties. At both June 30, 2012 and December 31, 2011, our loans were 94% concentrated in the hospitality industry. Any economic factors that negatively impact the hospitality industry, including recessions, depressed commercial real estate markets, travel restrictions, gasoline prices, bankruptcies or other political or geopolitical events, could have a material adverse effect on our financial condition and results of operations.

At June 30, 2012 and December 31, 2011, 17% and 18%, respectively, of our loans were collateralized by properties in Texas. No other state had a concentration of 10% or greater of our loans receivable at June 30, 2012 or December 31, 2011. A decline in economic conditions in any state in which we have a concentration of investments could have a material adverse effect on our financial condition and results of operations.

We have not loaned more than 10% of our assets to any single borrower; however, we have an affiliated group of obligors representing 5% of our loans receivable at both June 30, 2012 and December 31, 2011. Any decline in the financial status of this group could have a material adverse effect on our financial condition and results of operations.

Aging

The following tables represent an aging of our Loans Receivable Subject to Credit Risk (loans receivable less SBA 7(a) loans, subject to secured borrowings as the SBA has guaranteed payment of the principal). Balances are prior to loan loss reserves and deferred capitalized costs, net.


June 30, 2012
Category	Totals				Commercial Mortgage Loans				SBA 7(a) Loans
	(Dollars in thousands)
Current (1)	$	206,108	99.1	%	$	177,805	99.2	%	$	28,303	98.7	%
Between 30 and 59 days delinquent		—	—			—	—			—	—
Between 60 and 89 days delinquent		359	0.2	%		—	—			359	1.3	%
Over 89 days delinquent (2)		1,458	0.7	%		1,458	0.8	%		—	—

	$	207,925	100.0	%	$	179,263	100.0	%	$	28,662	100.0	%

(1)

Includes $6.3 million of loans classified as troubled debt restructurings which are current based on revised note terms.

(2)

Represents a loan on which the borrower filed for Chapter 11 Bankruptcy. We are classified as a secured creditor in the bankruptcy proceeding. The bankruptcy order was recently confirmed and the borrower is required to pay interest only on the loan until maturity.


December 31, 2011
Category	Totals				Commercial Mortgage Loans				SBA 7(a) Loans
	(Dollars in thousands)
Current (1)	$	202,217	98.2	%	$	179,497	98.2	%	$	22,720	97.7	%
Between 30 and 59 days delinquent		1,224	0.6	%		1,090	0.6	%		134	0.6	%
Between 60 and 89 days delinquent		696	0.3	%		696	0.4	%		—	—
Over 89 days delinquent (2)		1,826	0.9	%		1,442	0.8	%		384	1.7	%

	$	205,963	100.0	%	$	182,725	100.0	%	$	23,238	100.0	%

(1)

Includes $6.3 million of loans classified as troubled debt restructurings which are current based on revised note terms. Of these loans, $5.6 million are paying interest only.

(2)

Includes a $1.4 million loan on which the borrower filed for Chapter 11 Bankruptcy. We are classified as a secured creditor in the bankruptcy proceeding.

Loan Loss Reserves

We have a quarterly review process to identify and evaluate potential exposure to loan losses. Loans that require specific identification review are identified based on one or more negative characteristics including, but not limited to, non-payment or lack of timely payment of interest and/or principal, non-payment or lack of timely payment of property taxes for an extended period of time, insurance defaults and/or franchise defaults. The specific identification evaluation begins with an evaluation of the estimated fair value of the loan. In determining estimated fair value, management utilizes the present value of the expected future cash flows discounted at the loan’s effective interest rate and/or an estimation of underlying collateral values using appraisals, broker price opinions, tax assessed value and/or revenue analysis. Management uses appraisals as tools in conjunction with other determinants of collateral value to estimate collateral values, not as the sole determinant of value. The property valuation takes into consideration current information on property values in general and value changes in commercial real estate and/or hospitality properties. The probability of liquidation within the next twelve months is then determined. These probability determinations include macroeconomic factors, the location of the property and economic environment where the property is located, industry specific factors, our historical experience with similar borrowers and/or individual borrower or collateral characteristics, and in certain circumstances, the financial strength of the guarantors. The liquidation probability is then applied to the identified loss exposure to determine the general or specific reserve for that loan and the ultimate determination as to whether it is considered impaired.

Management closely monitors our loans which require evaluation for loan loss reserves based on specific criteria which classify the loans into three categories: Doubtful, Substandard and Other Assets Especially Mentioned (“OAEM”) (together “Specific Identification Loans”). Loans classified as Doubtful are generally loans which are not complying with their contractual terms, the collection of the balance of the principal is considered impaired and liquidation of the collateral securing the loan is probable. These loans are typically placed on non-accrual status and are generally in the foreclosure process. Loans classified as Substandard are generally those loans that are either not complying or had previously not complied with their contractual terms and have other credit weaknesses which may make payment default or principal exposure likely but not yet certain. Loans classified as OAEM are generally loans for which the credit quality of the borrowers has temporarily deteriorated. Typically these borrowers, whose loans are classified as OAEM, are current on their payments; however, they may be delinquent on their property taxes, insurance, or franchise fees or may be under agreements which provided for interest only payments during a short period of time.

Management has classified our Loans Receivable Subject to Credit Risk as follows (balances represent our investment in the loans prior to loan loss reserves and deferred capitalized costs):


	June 30, 2012
	Totals		%			Commercial Mortgage Loans		%			SBA 7(a) Loans		%
	(Dollars in thousands)
Satisfactory	$	193,107		92.9	%	$	165,178		92.2	%	$	27,929		97.4	%
OAEM		2,541		1.2	%		2,408		1.3	%		133		0.5	%
Substandard		11,970		5.8	%		11,677		6.5	%		293		1.0	%
Doubtful		307		0.1	%		—		—			307		1.1	%

	$	207,925		100.0	%	$	179,263		100.0	%	$	28,662		100.0	%


	December 31, 2011
	Totals		%			Commercial Mortgage Loans		%			SBA 7(a) Loans		%
	(Dollars in thousands)
Satisfactory	$	189,836		92.2	%	$	167,397		91.6	%	$	22,439		96.5	%
OAEM		3,354		1.6	%		3,317		1.8	%		37		0.2	%
Substandard		10,790		5.2	%		10,569		5.8	%		221		1.0	%
Doubtful		1,983		1.0	%		1,442		0.8	%		541		2.3	%

	$	205,963		100.0	%	$	182,725		100.0	%	$	23,238		100.0	%

Our provision for loan losses (excluding reductions of loan losses) as a percentage of our weighted average outstanding Loans Receivable Subject To Credit Risk was 0.41% and 0.25% during the six months ended June 30, 2012 and 2011, respectively. The increase is primarily related to a commercial mortgage loan collateralized by a limited service hospitality property. We foreclosed on the underlying collateral during May 2012. To the extent one or several of our borrowers experience significant operating difficulties and we are forced to liquidate the collateral underlying the loan, future losses may be substantial.

The activity in our loan loss reserves was as follows:


	Six Months Ended June 30, 2012
	Total			Commercial Mortgage Loans			SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,812		$	1,329		$	483
Provision for loan losses		816			726			90
Reduction of loan losses		(223	)		(194	)		(29	)
Principal balances written-off		(799	)		(627	)		(172	)

Balance, end of period	$	1,606		$	1,234		$	372

Principal balances written-off for commercial mortgage loans represents the realized loss on a loan collateralized by a limited service hospitality property. We foreclosed on the underlying collateral during May 2012.


	Six Months Ended June 30, 2011
	Total			Commercial Mortgage Loans			SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,609		$	1,303		$	306
Provision for loan losses		520			332			188
Reduction of loan losses		(141	)		(118	)		(23	)
Principal balances written-off		(128	)		—			(128	)

Balance, end of period	$	1,860		$	1,517		$	343

Information on those loans considered to be impaired loans was as follows:


	June 30, 2012						December 31, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans		Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Impaired loans requiring reserves (1)	$	7,222	$	7,047	$	175	$	7,411	$	7,027	$	384
Impaired loans expected to be fully recoverable (1)		802		678		124		846		689		157

Total impaired loans (2)	$	8,024	$	7,725	$	299	$	8,257	$	7,716	$	541

Loan loss reserves	$	213	$	185	$	28	$	563	$	372	$	191

(1)

Balances represent our recorded investment and includes loans classified as troubled debt restructurings.

(2)

The unpaid principal balance of our impaired commercial loans was $7,955,000 and $7,940,000 at June 30, 2012 and December 31, 2011, respectively. The unpaid principal balance of our impaired SBA 7(a) loans (excluding the government guaranteed portion) was $305,000 and $593,000 at June 30, 2012 and December 31, 2011, respectively.


	Three Months Ended June 30, 2012						Three Months Ended June 30, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans		Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	8,221	$	7,731	$	490	$	2,646	$	2,061	$	585

Interest income on impaired loans	$	98	$	96	$	2	$	2	$	—	$	2


	Six Months Ended June 30, 2012						Six Months Ended June 30, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans		Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	8,237	$	7,726	$	511	$	2,548	$	2,059	$	489

Interest income on impaired loans	$	187	$	182	$	5	$	4	$	—	$	4

Our recorded investment in Non-Accrual Loans at June 30, 2012 of $2,456,000 was comprised of $1,002,000 of SBA 7(a) loans and $1,454,000 of commercial mortgage loans. Included within non-accrual SBA 7(a) loans at June 30, 2012 is the government guaranteed portion of a loan of $634,000 (i.e., the loan has a related secured borrowing as it was sold as a hybrid) on which we have no loss exposure. Our recorded investment in Non-Accrual Loans at December 31, 2011 of $1,820,000 was comprised of $384,000 of SBA 7(a) loans and $1,436,000 of commercial mortgage loans. We did not have any loans receivable past due 90 days or more which were accruing interest at June 30, 2012 or December 31, 2011.

Information on our troubled debt restructurings which consisted of five commercial mortgage loans was as follows at June 30, 2012:


	Recorded Investment		Unpaid Principal Balance
	(In thousands)
Troubled debt restructurings requiring reserves	$	7,047	$	7,220
Troubled debt restructurings without reserves		678		735

Total troubled debt restructurings	$	7,725	$	7,955

Loan loss reserves	$	185

The modifications were primarily extended interest only periods; however, for two loans the borrowers filed Chapter 11 Bankruptcy and the plan was confirmed with modified terms including extended interest only and amortization periods. In addition, the interest rate was reduced on one of the commercial mortgage loans with an extended interest only period.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5066-111524

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5162-111524

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 01-6
-Paragraph 13
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3, 4
-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 7
-Article 9

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Article 4

+ Details

Other Assets

6 Months Ended

Jun. 30, 2012

Other Assets [Abstract]

Other Assets

Note 4. Other Assets:

Other assets consisted of the following:


	June 30, 2012		December 31, 2011
	(In thousands)
Deferred tax asset, net	$	1,528	$	1,409
Deferred borrowing costs, net		1,103		1,128
Servicing asset, net		1,011		979
Retained interests in transferred assets		834		996
Investment in variable interest entity		828		820
Interest receivable		688		710
Prepaid expenses and deposits		396		303
Other		858		481

	$	7,246	$	6,826

Debt

6 Months Ended

Jun. 30, 2012

Debt [Abstract]

Debt

Note 5. Debt:

Information on our debt was as follows:


	Carrying Value (1)				Weighted Average Coupon Rate at
	June 30, 2012		December 31, 2011		June 30, 2012			December 31, 2011
	(Dollars in thousands, except footnotes)
Secured borrowings—government guaranteed loans:
Loans sold for a premium and excess spread	$	34,301	$	26,569		3.74	%		3.77	%
Loans sold for excess spread		5,912		5,977		1.58	%		1.58	%

		40,213		32,546

Junior subordinated notes		27,070		27,070		3.72	%		3.62	%
Revolving credit facility		21,000		17,800		2.51	%		2.47	%
Debentures payable		13,187		13,181		4.99	%		4.99	%
Structured notes payable (2)		—		5,264		N/A			3.08	%

Debt	$	101,470	$	95,861

(1) The face amount of debt as of June 30, 2012 and December 31, 2011 was $101,473,000 and $95,870,000, respectively.

(2) We repaid the structured notes on February 15, 2012.

Principal payments on our debt at June 30, 2012 were as follows:


Twelve Months Ending June 30,	Total		Secured borrowings (1)		All other debt (2)
			(In thousands)
2013	$	1,046	$	1,046	$	—
2014		5,273		1,083		4,190
2015		26,120		1,120		25,000
2016		1,160		1,160		—
2017		1,202		1,202		—
Thereafter		66,672		34,602		32,070

	$	101,473	$	40,213	$	61,260

(1)

Principal payments are dependent upon cash flows received from the underlying loans. Our estimate of their repayment is based on scheduled principal payments on the underlying loans. Our estimate will differ from actual amounts to the extent we experience prepayments and/or loan liquidations or charge-offs. No payment is due unless payments are received from the borrowers on the loans underlying them.

(2)

Represents the revolving credit facility, junior subordinated notes and debentures payable.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Share-Based Compensation Plans

6 Months Ended

Jun. 30, 2012

Share-Based Compensation Plans [Abstract]

Share-Based Compensation Plans

Note 6. Share-Based Compensation Plans:

We granted 30,000 option awards on June 8, 2012 at an exercise price of $7.80 (the then current market price). The fair value of this option award was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:


Assumption
Expected Term (years)	3.0
Risk-Free Interest Rate	0.39	%
Expected Dividend Yield	8.21	%
Expected Volatility	21.12	%
Expected Forfeiture Rate	1.0	%

The expected term of the options granted represents the period of time that the options are expected to be outstanding and was based on historical data. The risk-free rate was based on the three-year U.S. Treasury rate corresponding to the expected term of the options. We used historical information to determine our expected volatility and forfeiture rates. We recorded compensation expense of $12,000 during the three and six months ended June 30, 2012 related to this option grant. We granted 27,000 option awards on June 10, 2011 at an exercise price of $8.75 (the then current market price) and recorded compensation expense of $30,000 during the three and six months ended June 30, 2011.

We issued an aggregate of 5,000 shares to the Board of Trust Managers on June 8, 2012 at the then current market price of the shares of $7.80. We issued an aggregate of 5,000 shares to the Board of Trust Managers on June 10, 2011 at the then current market price of the shares of $8.75. These shares vested immediately upon issuance. We recorded compensation expense of $39,000 during the three and six months ended June 30, 2012 and $44,000 during the three and six months ended June 30, 2011 related to these shares.

We issued an aggregate of 10,000 restricted shares to executive officers on March 12, 2012 at the then current market price of the shares of $7.27 (the closing price on March 9, 2012). We issued an aggregate of 10,000 restricted shares to executive officers on March 13, 2011 at the then current market price of the shares of $8.72. The restricted shares vest based on two years of continuous service with one-third of the shares vesting immediately upon issuance of the shares and one-third vesting at the end of each of the next two years. Restricted share awards provide for accelerated vesting if there is a change in control (as defined in the plan). Compensation expense related to the restricted shares is being recognized over the vesting

periods. We recorded compensation expense of $16,000 and $24,000 during the three months ended June 30, 2012 and 2011, respectively, and $56,000 and $73,000 during the six months ended June 30, 2012 and 2011, respectively, related to these restricted shares. As of June 30, 2012, there was $46,000 of total unrecognized compensation expense related to restricted shares which will be recognized over the next two years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Other Income

6 Months Ended

Jun. 30, 2012

Other Income [Abstract]

Other Income

Note 7. Other Income:

Other income consisted of the following:


	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(In thousands)
Servicing income	$	113	$	103	$	238	$	200
Retained interests in transferred assets		51		53		105		106
Loan related income—other		63		46		110		92
Prepayment fees		—		110		19		110
Other		26		18		57		80

	$	253	$	330	$	529	$	588

Income Taxes

6 Months Ended

Jun. 30, 2012

Income Taxes [Abstract]

Income Taxes

Note 8. Income Taxes:

PMC Commercial has elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, PMC Commercial must meet a number of organizational and operational requirements, including a requirement that we distribute at least 90% of our REIT taxable income to our shareholders. As a REIT, PMC Commercial generally will not be subject to corporate level Federal income tax on net income that is currently distributed to shareholders.

PMC Commercial has wholly-owned taxable REIT subsidiaries (“TRS’s”) which are subject to Federal income taxes. The income generated from the TRS’s is taxed at normal corporate rates.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Discontinued Operations

6 Months Ended

Jun. 30, 2012

Discontinued Operations [Abstract]

Discontinued Operations

Note 9. Discontinued Operations:

Discontinued operations consisted of the following:


	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(In thousands)
Net gains on sales of real estate	$	—		$	568		$	—		$	570
Net operating losses		(139	)		(232	)		(270	)		(442	)
Impairment losses		(183	)		(232	)		(201	)		(232	)

Discontinued operations	$	(322	)	$	104		$	(471	)	$	(104	)

Net operating losses from discontinued operations relate to the operations and holding costs of our real estate owned. We foreclosed on the underlying collateral (limited service hospitality properties) of two loans during the second quarter of 2012. The estimated fair value of the collateral, based on an expectation of the estimated fair value at the time of foreclosure was $1,481,000.

During the second quarter of 2011, previously deferred gains of $683,000 from property sales we financed were recognized as gains due to principal reductions on the underlying loans. During June 2011, we sold an asset acquired through foreclosure for $1.3 million, received cash proceeds of $128,000 and financed the remainder. A loss of $115,000 was recorded on the transaction.

Impairment losses represent declines in the estimated fair value of our real estate owned subsequent to initial valuation. Impairment losses during the three and six months ended June 30, 2012 primarily relate to a retail establishment.

We have contracts for sale on our four hospitality properties included in real estate owned. Deposits have been received on all of these contracts for sale. We expect that these sales will close during the third and fourth quarters of 2012. Of these, two are for cash proceeds and the remainder are for a combination of cash proceeds and financing by PMC Commercial.

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43-48
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Earnings (Loss) Per Share (EPS)

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 10. Earnings (Loss) Per Share (“EPS”):

The computations of basic EPS are based on our weighted average shares outstanding. During the three and six months ended June 30, 2012, the weighted average shares outstanding were increased by 21,000 and 18,000 shares, respectively, to reflect the dilutive effect of stock options. During the three and six months ended June 30, 2011, the weighted average shares outstanding were increased by 55,000 shares to reflect the dilutive effect of stock options.

Not included in the computation of diluted EPS were outstanding options to purchase 69,000 and 39,000 common shares during the three and six months ended June 30, 2012 and 2011, respectively, because the options’ exercise prices were greater than the average market price of the shares.

Fair Value Measurements

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

Fair Value Measurements

Note 11. Fair Value Measurements:

For impaired loans measured at fair value on a nonrecurring basis during the six months ended June 30, 2012 and 2011, the following table provides the carrying value of the related individual assets at quarter end. We used Level 3 inputs to determine the estimated fair value of our impaired loans.


	Carrying Value at June 30,				Provision for (Reduction of) Loan Losses Six Months Ended June 30, (2)
	2012		2011		2012			2011
	(In thousands)
Impaired loans (1)	$	7,811	$	2,269	$	(159	)	$	124

(1)

Carrying value represents our impaired loans net of loan loss reserves. Our carrying value is determined based on management’s assessment of the fair value of the collateral based on numerous factors including operating statistics to the extent available, appraised value of the collateral, tax assessed value and market environment.

(2)

Represents the net change in the provision for loan losses included in our consolidated statements of income (loss) related specifically to our impaired loans during the periods presented.

For real estate owned, our carrying value approximates the estimated fair value at the time of foreclosure and the lower of cost or fair value thereafter. We use Level 3 inputs to determine the estimated fair value of our real estate owned. The carrying value of our real estate owned is established at the time of foreclosure based upon management’s assessment of its fair value based on numerous factors including operating statistics to the extent available, the appraised value, tax assessed value and market environment.

The following is activity for our real estate owned:


	Six Months Ended June 30,
	2012			2011
	(In thousands)
Value—beginning of year	$	1,259		$	3,477
Foreclosures		1,481			—
Sales		—			(1,331	)
Impairment losses		(201	)		(232	)

Value—end of period	$	2,539		$	1,914

The estimated fair values of our financial instruments were as follows:


	June 30, 2012				December 31, 2011
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	(In thousands)
Assets:
Loans receivable, net	$	243,759	$	227,918	$	234,427	$	224,395
Cash and cash equivalents		1,309		1,309		6,502		6,502
Restricted cash and cash equivalents		—		—		2,233		2,233
Liabilities:
SBIC debentures and structured notes payable		13,187		13,764		18,445		19,027
Secured borrowings—government guaranteed loans		40,213		40,213		32,546		32,546
Revolving credit facility		21,000		21,000		17,800		17,800
Junior subordinated notes		27,070		22,597		27,070		22,595

We used Level 3 inputs to determine the estimated fair value of our financial instruments. In general, estimates of fair value may differ from the carrying amounts of the financial assets and liabilities primarily as a result of the effects of discounting future cash flows. Considerable judgment is required to interpret market data and develop estimates of fair value. Accordingly, the estimates presented may not be indicative of the amounts we could realize in a current market exchange.

Loans receivable, net: Our loans receivable are recorded at cost and adjusted by net loan origination fees and discounts. In order to determine the estimated fair value of our loans receivable, we use a present value technique for the anticipated future cash flows using certain assumptions including a discount rate based on current market interest rates, prepayment tendencies and potential loan losses. Significant increases (decreases) in any of these inputs in isolation would result in a significantly lower (higher) fair value measurement. Reserves are established based on numerous factors including, but not limited to, the creditor’s payment history, collateral value, guarantor support, expected future cash flows and other factors. In the absence of a readily ascertainable market value, the estimated value of our loans receivable may differ from the values that would be placed on the portfolio if a ready market for the loans receivable existed.

Cash and cash equivalents: The carrying amount is considered to be reasonable estimates of fair value due to the short maturity of these funds.

Restricted cash and cash equivalents: Restricted cash and cash equivalents were comprised of the collection and reserve accounts of the securitization. The carrying amount was considered to be a reasonable estimate of their fair value due to (1) the maturity of the collection account and (2) the reserve account was used in conjunction with the exercise of our “clean-up call” option. At June 30, 2012, we no longer have any restricted cash and cash equivalents.

SBIC debentures and structured notes payable and junior subordinated notes: The estimated fair value is based on a present value calculation based on management’s estimate of prices of the same or similar instruments after considering market risks, current interest rates, and remaining maturities. The structured notes payable were repaid on February 15, 2012.

Secured borrowings—government guaranteed loans: The estimated fair value approximates cost as the interest rates on these secured borrowings approximates current market interest rates.

Revolving credit facility: The carrying amount is a reasonable estimation of fair value as the interest rate on this instrument is variable and was set in a third-party transaction.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Commitments and Contingencies

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies [Abstract]

Commitments and Contingencies

Note 12. Commitments and Contingencies:

Loan Commitments

Commitments to extend credit are agreements to lend to a customer provided the terms established in the contract are met. Our outstanding loan commitments and approvals to fund loans were $22.3 million at June 30, 2012, of which $15.1 million were for prime-based loans to be originated by our SBA 7(a) subsidiary, the government guaranteed portion of which is intended to be sold. Commitments generally have fixed expiration dates. Since some commitments are expected to expire without being drawn upon, total commitment amounts do not necessarily represent future cash requirements.

Operating Lease

We lease office space in Dallas, Texas under a lease which expires in February 2015. Future minimum lease payments are as follows:


Twelve Months Ending June 30,	Total
	(In thousands)
2013	$	208
2014		214
2015		146

	$	568

Employment Agreements

We have employment agreements with our executive officers for terms expiring December 31, 2014. Under certain circumstances, as defined within the agreements, the agreements provide for (1) severance compensation or change in control payments to the executive officer in an amount equal to 2.99 times the average of the last three years annual compensation paid to the executive officer and (2) death and disability payments in an amount equal to two times and one time, respectively, the annual salary paid to the executive officer.

Litigation

In the normal course of business we are periodically party to certain legal actions and proceedings involving matters that are generally incidental to our business (i.e., collection of loans receivable). In management’s opinion, the resolution of these legal actions and proceedings will not have a material adverse effect on our consolidated financial statements.

Other

If the SBA establishes that a loss on an SBA guaranteed loan is attributable to significant technical deficiencies in the manner in which the loan was originated, funded or serviced by us, the SBA may seek recovery of the principal loss related to the deficiency from us. With respect to the guaranteed portion of SBA loans that have been sold, the SBA will first honor its guarantee and then seek compensation from us in the event that a loss is deemed to be attributable to technical deficiencies. Based on historical experience, we do not expect that this contingency would be material to the financial statements if asserted.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.5-02.25)
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
Recently Issued Accounting Pronouncements (Policies)	Jun. 30, 2012
Recently Issued Accounting Pronouncements [Abstract]
Fair Value Measurement	Accounting Standards Update (“ASU”) 2011-04, Fair Value Measurement (Topic 820); Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP was issued in May 2011. This ASU provides additional guidance on fair value measurements and requires additional fair value disclosures including quantitative and qualitative information for recurring Level 3 fair value measurements. In addition, entities must report the level in the fair value hierarchy of assets and liabilities not recorded at fair value but where fair value is disclosed. This ASU was effective for interim and annual periods beginning on or after December 15, 2011.

Loans Receivable, net (Tables)

6 Months Ended

Jun. 30, 2012

Loans Receivable, net [Abstract]

Loans receivables, net


	June 30, 2012			December 31, 2011
	(In thousands)
Commercial mortgage loans	$	139,739		$	134,835
SBIC commercial mortgage loans		39,524			32,416
SBA 7(a) loans, subject to secured borrowings		37,155			30,151
SBA 7(a) loans (1)		28,662			23,238
Commercial mortgage loans, subject to structured notes payable (2)		—			15,474

Total loans receivable		245,080			236,114
Adjusted by:
Deferred capitalized costs, net		285			125
Loan loss reserves		(1,606	)		(1,812	)

Loans receivable, net	$	243,759		$	234,427

(1)

At June 30, 2012, includes $5.4 million of the government guaranteed portion of certain SBA 7(a) loans which were held for sale. Of this, $3.3 million were sold during July 2012.

(2)

We repaid the structured notes on February 15, 2012.

Aging of loans Receivable


June 30, 2012
Category	Totals				Commercial Mortgage Loans				SBA 7(a) Loans
	(Dollars in thousands)
Current (1)	$	206,108	99.1	%	$	177,805	99.2	%	$	28,303	98.7	%
Between 30 and 59 days delinquent		—	—			—	—			—	—
Between 60 and 89 days delinquent		359	0.2	%		—	—			359	1.3	%
Over 89 days delinquent (2)		1,458	0.7	%		1,458	0.8	%		—	—

	$	207,925	100.0	%	$	179,263	100.0	%	$	28,662	100.0	%

(1)

Includes $6.3 million of loans classified as troubled debt restructurings which are current based on revised note terms.

(2)


December 31, 2011
Category	Totals				Commercial Mortgage Loans				SBA 7(a) Loans
	(Dollars in thousands)
Current (1)	$	202,217	98.2	%	$	179,497	98.2	%	$	22,720	97.7	%
Between 30 and 59 days delinquent		1,224	0.6	%		1,090	0.6	%		134	0.6	%
Between 60 and 89 days delinquent		696	0.3	%		696	0.4	%		—	—
Over 89 days delinquent (2)		1,826	0.9	%		1,442	0.8	%		384	1.7	%

	$	205,963	100.0	%	$	182,725	100.0	%	$	23,238	100.0	%

(1)

Includes $6.3 million of loans classified as troubled debt restructurings which are current based on revised note terms. Of these loans, $5.6 million are paying interest only.

(2)

Includes a $1.4 million loan on which the borrower filed for Chapter 11 Bankruptcy. We are classified as a secured creditor in the bankruptcy proceeding.

Classified loans receivable


	June 30, 2012
	Totals		%			Commercial Mortgage Loans		%			SBA 7(a) Loans		%
	(Dollars in thousands)
Satisfactory	$	193,107		92.9	%	$	165,178		92.2	%	$	27,929		97.4	%
OAEM		2,541		1.2	%		2,408		1.3	%		133		0.5	%
Substandard		11,970		5.8	%		11,677		6.5	%		293		1.0	%
Doubtful		307		0.1	%		—		—			307		1.1	%

	$	207,925		100.0	%	$	179,263		100.0	%	$	28,662		100.0	%


	December 31, 2011
	Totals		%			Commercial Mortgage Loans		%			SBA 7(a) Loans		%
	(Dollars in thousands)
Satisfactory	$	189,836		92.2	%	$	167,397		91.6	%	$	22,439		96.5	%
OAEM		3,354		1.6	%		3,317		1.8	%		37		0.2	%
Substandard		10,790		5.2	%		10,569		5.8	%		221		1.0	%
Doubtful		1,983		1.0	%		1,442		0.8	%		541		2.3	%

	$	205,963		100.0	%	$	182,725		100.0	%	$	23,238		100.0	%

Loan loss reserves


	Six Months Ended June 30, 2012
	Total			Commercial Mortgage Loans			SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,812		$	1,329		$	483
Provision for loan losses		816			726			90
Reduction of loan losses		(223	)		(194	)		(29	)
Principal balances written-off		(799	)		(627	)		(172	)

Balance, end of period	$	1,606		$	1,234		$	372


	Six Months Ended June 30, 2011
	Total			Commercial Mortgage Loans			SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,609		$	1,303		$	306
Provision for loan losses		520			332			188
Reduction of loan losses		(141	)		(118	)		(23	)
Principal balances written-off		(128	)		—			(128	)

Balance, end of period	$	1,860		$	1,517		$	343

Loans considered to be impaired loans


	June 30, 2012						December 31, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans		Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Impaired loans requiring reserves (1)	$	7,222	$	7,047	$	175	$	7,411	$	7,027	$	384
Impaired loans expected to be fully recoverable (1)		802		678		124		846		689		157

Total impaired loans (2)	$	8,024	$	7,725	$	299	$	8,257	$	7,716	$	541

Loan loss reserves	$	213	$	185	$	28	$	563	$	372	$	191

(1)

Balances represent our recorded investment and includes loans classified as troubled debt restructurings.

(2)


	Three Months Ended June 30, 2012						Three Months Ended June 30, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans		Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	8,221	$	7,731	$	490	$	2,646	$	2,061	$	585

Interest income on impaired loans	$	98	$	96	$	2	$	2	$	—	$	2


	Six Months Ended June 30, 2012						Six Months Ended June 30, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans		Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	8,237	$	7,726	$	511	$	2,548	$	2,059	$	489

Interest income on impaired loans	$	187	$	182	$	5	$	4	$	—	$	4

Troubled Debt Restructurings


	Recorded Investment		Unpaid Principal Balance
	(In thousands)
Troubled debt restructurings requiring reserves	$	7,047	$	7,220
Troubled debt restructurings without reserves		678		735

Total troubled debt restructurings	$	7,725	$	7,955

Loan loss reserves	$	185

Other Assets (Tables)

6 Months Ended

Jun. 30, 2012

Other Assets [Abstract]

Other Asset


	June 30, 2012		December 31, 2011
	(In thousands)
Deferred tax asset, net	$	1,528	$	1,409
Deferred borrowing costs, net		1,103		1,128
Servicing asset, net		1,011		979
Retained interests in transferred assets		834		996
Investment in variable interest entity		828		820
Interest receivable		688		710
Prepaid expenses and deposits		396		303
Other		858		481

	$	7,246	$	6,826

Debt (Tables)

6 Months Ended

Jun. 30, 2012

Debt [Abstract]

Summary of Debt


	Carrying Value (1)				Weighted Average Coupon Rate at
	June 30, 2012		December 31, 2011		June 30, 2012			December 31, 2011
	(Dollars in thousands, except footnotes)
Secured borrowings—government guaranteed loans:
Loans sold for a premium and excess spread	$	34,301	$	26,569		3.74	%		3.77	%
Loans sold for excess spread		5,912		5,977		1.58	%		1.58	%

		40,213		32,546

Junior subordinated notes		27,070		27,070		3.72	%		3.62	%
Revolving credit facility		21,000		17,800		2.51	%		2.47	%
Debentures payable		13,187		13,181		4.99	%		4.99	%
Structured notes payable (2)		—		5,264		N/A			3.08	%

Debt	$	101,470	$	95,861

(1) The face amount of debt as of June 30, 2012 and December 31, 2011 was $101,473,000 and $95,870,000, respectively.

(2) We repaid the structured notes on February 15, 2012.

Principal payments on debt


Twelve Months Ending June 30,	Total		Secured borrowings (1)		All other debt (2)
			(In thousands)
2013	$	1,046	$	1,046	$	—
2014		5,273		1,083		4,190
2015		26,120		1,120		25,000
2016		1,160		1,160		—
2017		1,202		1,202		—
Thereafter		66,672		34,602		32,070

	$	101,473	$	40,213	$	61,260

(1)

(2)

Represents the revolving credit facility, junior subordinated notes and debentures payable.

Share-Based Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2012

Share-Based Compensation Plans [Abstract]

Black-Scholes option-pricing model


Assumption
Expected Term (years)	3.0
Risk-Free Interest Rate	0.39	%
Expected Dividend Yield	8.21	%
Expected Volatility	21.12	%
Expected Forfeiture Rate	1.0	%

Other Income (Tables)

6 Months Ended

Jun. 30, 2012

Other Income [Abstract]

Other income


	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(In thousands)
Servicing income	$	113	$	103	$	238	$	200
Retained interests in transferred assets		51		53		105		106
Loan related income—other		63		46		110		92
Prepayment fees		—		110		19		110
Other		26		18		57		80

	$	253	$	330	$	529	$	588

Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2012

Discontinued Operations [Abstract]

Discontinued operations


	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
	(In thousands)
Net gains on sales of real estate	$	—		$	568		$	—		$	570
Net operating losses		(139	)		(232	)		(270	)		(442	)
Impairment losses		(183	)		(232	)		(201	)		(232	)

Discontinued operations	$	(322	)	$	104		$	(471	)	$	(104	)

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

Estimated fair value of impaired loans on nonrecurring basis


	Carrying Value at June 30,				Provision for (Reduction of) Loan Losses Six Months Ended June 30, (2)
	2012		2011		2012			2011
	(In thousands)
Impaired loans (1)	$	7,811	$	2,269	$	(159	)	$	124

(1)

(2)

Represents the net change in the provision for loan losses included in our consolidated statements of income (loss) related specifically to our impaired loans during the periods presented.

Activity for real estate owned


	Six Months Ended June 30,
	2012			2011
	(In thousands)
Value—beginning of year	$	1,259		$	3,477
Foreclosures		1,481			—
Sales		—			(1,331	)
Impairment losses		(201	)		(232	)

Value—end of period	$	2,539		$	1,914

Estimated fair values of financial instruments


	June 30, 2012				December 31, 2011
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	(In thousands)
Assets:
Loans receivable, net	$	243,759	$	227,918	$	234,427	$	224,395
Cash and cash equivalents		1,309		1,309		6,502		6,502
Restricted cash and cash equivalents		—		—		2,233		2,233
Liabilities:
SBIC debentures and structured notes payable		13,187		13,764		18,445		19,027
Secured borrowings—government guaranteed loans		40,213		40,213		32,546		32,546
Revolving credit facility		21,000		21,000		17,800		17,800
Junior subordinated notes		27,070		22,597		27,070		22,595

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 19
-Subparagraph a, b, c(1), d(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 14
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15
-Subparagraph b-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 18
-Subparagraph c(2), d, e, f
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-Subparagraph a, c(1), c(2), c(3), d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies [Abstract]

Future minimum lease payments


Twelve Months Ending June 30,	Total
	(In thousands)
2013	$	208
2014		214
2015		146

	$	568

Loans Receivable, net (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Loans receivable, net:
Total loans receivable	$ 245,080	$ 236,114
Adjusted by:
Deferred capitalized costs, net	285	125
Loan loss reserves	(1,606)	(1,812)
Loans receivable, net	243,759	234,427
Commercial mortgage loans [Member]
Loans receivable, net:
Commercial mortgage loans	139,739	134,835
SBIC commercial mortgage loans [Member]
Loans receivable, net:
SBIC commercial mortgage loans	39,524	32,416
SBA 7(a) loans, subject to secured borrowings [Member]
Loans receivable, net:
SBA 7(a) loans, subject to secured borrowings	37,155	30,151
SBA 7(a) loans [Member]
Loans receivable, net:
SBA 7(a) loans	$ 28,662	23,238
Commercial mortgage loans, subject to structured notes payable [Member]
Loans receivable, net:
Commercial mortgage loans, subject to structured notes payable		$ 15,474

Loans Receivable, net (Details 1) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Aging of loans Receivable
Current	$ 206,108	$ 202,217
Between 30 and 59 days delinquent		1,224
Between 60 and 89 days delinquent	359	696
Over 89 days delinquent	1,458	1,826
Loans receivable, gross, excluding secured borrowings	$ 207,925	$ 205,963
Current	99.10%	98.20%
Between 30 and 59 days delinquent		0.60%
Between 60 and 89 days delinquent	0.20%	0.30%
Over 89 days delinquent	0.70%	0.90%
Aging of loans receivable percent	100.00%	100.00%
Commercial Mortgage Loans [Member]
Aging of loans Receivable
Current	$ 177,805	$ 179,497
Between 30 and 59 days delinquent		1,090
Between 60 and 89 days delinquent		696
Over 89 days delinquent	1,458	1,412
Loans receivable, gross, commercial mortgage loans	$ 179,263	$ 182,725
Current	99.20%	98.20%
Between 30 and 59 days delinquent		0.60%
Between 60 and 89 days delinquent		0.40%
Over 89 days delinquent	0.80%	0.80%
Aging of loans receivable percent	100.00%	100.00%
SBA 7(a) loans [Member]
Aging of loans Receivable
Current	$ 28,303	$ 22,720
Between 30 and 59 days delinquent		134
Between 60 and 89 days delinquent	359
Over 89 days delinquent		384
SBA loans receivable, gross, excluding secured borrowings	$ 28,662	$ 23,238
Current	98.70%	97.70%
Between 30 and 59 days delinquent		0.60%
Between 60 and 89 days delinquent	1.30%
Over 89 days delinquent		1.70%
Aging of loans receivable percent	100.00%	100.00%

Loans Receivable, net (Details 2) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Classified loans receivable
Loans receivable, gross, excluding secured borrowings	$ 207,925	$ 205,963
Percentage of loan receivable in aggregate loan receivable	100.00%	100.00%
Satisfactory [Member]
Classified loans receivable
Loans receivable, gross, excluding secured borrowings	$ 193,107	$ 189,836
Percentage of loan receivable in aggregate loan receivable	92.90%	92.20%
OAEM [Member]
Classified loans receivable
Loans receivable, gross, excluding secured borrowings	$ 2,541	$ 3,354
Percentage of loan receivable in aggregate loan receivable	1.20%	1.60%
Substandard [Member]
Classified loans receivable
Loans receivable, gross, excluding secured borrowings	$ 11,970	$ 10,790
Percentage of loan receivable in aggregate loan receivable	5.80%	5.20%
Doubtful [Member]
Classified loans receivable
Loans receivable, gross, excluding secured borrowings	$ 307	$ 1,983
Percentage of loan receivable in aggregate loan receivable	0.10%	1.00%
Commercial Mortgage Loans [Member]
Classified loans receivable
Loans receivable, gross, commercial mortgage loans	$ 179,263	$ 182,725
Percentage of loan receivable in aggregate loan receivable	100.00%	100.00%
Commercial Mortgage Loans [Member] \| Satisfactory [Member]
Classified loans receivable
Loans receivable, gross, commercial mortgage loans	$ 165,178	$ 167,397
Percentage of loan receivable in aggregate loan receivable	92.20%	91.60%
Commercial Mortgage Loans [Member] \| OAEM [Member]
Classified loans receivable
Loans receivable, gross, commercial mortgage loans	$ 2,408	$ 3,317
Percentage of loan receivable in aggregate loan receivable	1.30%	1.80%
Commercial Mortgage Loans [Member] \| Substandard [Member]
Classified loans receivable
Loans receivable, gross, commercial mortgage loans	$ 11,677	$ 10,569
Percentage of loan receivable in aggregate loan receivable	6.50%	5.80%
Commercial Mortgage Loans [Member] \| Doubtful [Member]
Classified loans receivable
Loans receivable, gross, commercial mortgage loans		$ 1,442
Percentage of loan receivable in aggregate loan receivable		0.80%
SBA 7(a) loans [Member]
Classified loans receivable
SBA loans receivable, gross, excluding secured borrowings	$ 28,662	$ 23,238
Percentage of loan receivable in aggregate loan receivable	100.00%	100.00%
SBA 7(a) loans [Member] \| Satisfactory [Member]
Classified loans receivable
SBA loans receivable, gross, excluding secured borrowings	$ 27,929	$ 22,439
Percentage of loan receivable in aggregate loan receivable	97.40%	96.50%
SBA 7(a) loans [Member] \| OAEM [Member]
Classified loans receivable
SBA loans receivable, gross, excluding secured borrowings	$ 133	$ 37
Percentage of loan receivable in aggregate loan receivable	0.50%	0.20%
SBA 7(a) loans [Member] \| Substandard [Member]
Classified loans receivable
SBA loans receivable, gross, excluding secured borrowings	$ 293	$ 221
Percentage of loan receivable in aggregate loan receivable	1.00%	1.00%
SBA 7(a) loans [Member] \| Doubtful [Member]
Classified loans receivable
SBA loans receivable, gross, excluding secured borrowings	$ 307	$ 541
Percentage of loan receivable in aggregate loan receivable	1.10%	2.30%

Loans Receivable, net (Details 3) - USD ($) $ in Thousands	6 Months Ended
Loans Receivable, net (Details 3) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011
Loan loss reserves
Balance, beginning of year	$ 1,812	$ 1,609
Provision for loan losses	816	520
Reduction of loan losses	(223)	(141)
Principal balances written-off	(799)	(128)
Balance, end of period	1,606	1,860
Commercial Mortgage Loans [Member]
Loan loss reserves
Balance, beginning of year	1,329	1,303
Provision for loan losses	726	332
Reduction of loan losses	(194)	(118)
Principal balances written-off	(627)
Balance, end of period	1,234	1,517
SBA 7(a) loans [Member]
Loan loss reserves
Balance, beginning of year	483	306
Provision for loan losses	90	188
Reduction of loan losses	(29)	(23)
Principal balances written-off	(172)	(128)
Balance, end of period	$ 372	$ 343

Loans Receivable, net (Details 4) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Loans considered to be impaired loans
Impaired loans requiring reserves	$ 7,222	$ 7,411
Impaired loans expected to be fully recoverable	802	846
Total Troubled Debt Restructurings Recorded Investment	8,024	8,257	$ 2,269
Loan loss reserves	213	563
Commercial Mortgage Loans [Member]
Loans considered to be impaired loans
Impaired loans requiring reserves	7,047	7,027
Impaired loans expected to be fully recoverable	678	689
Total Troubled Debt Restructurings Recorded Investment	7,725	7,716
Loan loss reserves	185	372
SBA 7(a) loans [Member]
Loans considered to be impaired loans
Impaired loans requiring reserves	175	384
Impaired loans expected to be fully recoverable	124	157
Total Troubled Debt Restructurings Recorded Investment	299	541
Loan loss reserves	$ 28	$ 191

Loans Receivable, net (Details 5) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Loans Receivable, net (Details 5) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Loans considered to be impaired loans
Average impaired loans	$ 8,221	$ 2,646	$ 8,237	$ 2,548
Interest income on impaired loans	98	2	187	4
Commercial Mortgage Loans [Member]
Loans considered to be impaired loans
Average impaired loans	7,731	2,061	7,726	2,059
Interest income on impaired loans	96		182
SBA 7(a) loans [Member]
Loans considered to be impaired loans
Average impaired loans	490	585	511	489
Interest income on impaired loans	$ 2	$ 2	$ 5	$ 4

Loans Receivable Net (Details 6) $ in Thousands	Jun. 30, 2012 USD ($)
Troubled debt restructurings
Troubled debt restructurings requiring reserves, Recorded Investment	$ 7,047
Troubled debt restructurings without reserves, Recorded Investment	678
Total Troubled Debt Restructurings, Recorded Investment	7,725
Troubled debt restructurings requiring reserves, Unpaid Principal Balance	7,220
Troubled debt restructurings without reserves, Unpaid Principal Balance	735
Total Troubled Debt Restructurings, Unpaid Principal Balance	7,955
Loans loss reserves	$ 185

- Definition

Amount of allowance to cover probable credit losses on loans and leases. Includes carryover of or adjustments to the allowance for loan losses in connection with business combinations. Excludes allowance for loans and leases covered under loss sharing agreements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.7(d))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (b)(1)(ii)
-URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher OTS
-Name Federal Regulation (FR)
-Number Title 12
-Section 563c.102
-Paragraph 8
-Subparagraph a(ii)
-Chapter V
-Subsection I
-LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy. It will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 8, 9
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 7
-Subparagraph d
-Article 9

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 114
-Paragraph 20
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section L
-Subsection 1

+ Details

Loans Receivable, net (Details Textual)	6 Months Ended		12 Months Ended
Loans Receivable, net (Details Textual)	Jun. 30, 2012 USD ($) Loans CreditRisk	Jun. 30, 2011	Dec. 31, 2011 USD ($)	Jul. 31, 2012 USD ($) Loans
Loans Receivable, net (Textual) [Abstract]
Unpaid principal balance of our impaired commercial loans	$ 7,955,000
Recorded investment in Non-Accrual Loans	2,456,000		$ 1,820,000
Loans classified as troubled debt restructuring based on revised note terms	6,300,000		6,300,000
Loans receivable, net	243,759,000		$ 234,427,000
Loans Receivable net (Additional Textual) [Abstract]
Loans held for Sale	$ 5,400,000			$ 3,300,000
Concentrations of investments in hospitality industry	94.00%		94.00%
Government guaranteed portion loan related secured borrowing	$ 634,000
Loans receivable affiliated group of obligors	5.00%		5.00%
Troubled debt restructurings paying interest only			$ 5,600,000
Loans collateralized by properties	17.00%		18.00%
Loans receivable maximum	10.00%
Bankruptcy claims amount of claims filed			$ 1,400,000
Maximum loans receivable single borrower	10.00%
Provision for loan losses	0.41%	0.25%
Loans receivable past due 90 days or more which were accruing interest	$ 0		$ 0
Loans Receivable Due	90 days		90 days
Credit risk indicators \| CreditRisk
Number of loans for which bankruptcy was filed \| Loans	2
Troubled debt restructurings commercial mortgage loans \| Loans				5
Commercial Loan [Member]
Loans Receivable, net (Textual) [Abstract]
Unpaid principal balance of our impaired commercial loans	$ 7,955,000		$ 7,940,000
SBA 7(a) loans [Member]
Loans Receivable, net (Textual) [Abstract]
Retained loans discount	1,600,000		1,600,000
Unpaid principal balance of our impaired commercial loans	305,000		593,000
Recorded investment in Non-Accrual Loans	1,002,000		384,000
Commercial mortgage loans [Member]
Loans Receivable, net (Textual) [Abstract]
Recorded investment in Non-Accrual Loans of commercial mortgage	$ 1,454,000		$ 1,436,000

Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Other Asset
Deferred tax asset, net	$ 1,528	$ 1,409
Deferred borrowing costs, net	1,103	1,128
Servicing asset, net	1,011	979
Retained interests in transferred assets	834	996
Investment in variable interest entities	828	820
Interest receivable	688	710
Prepaid expenses and deposits	396	303
Other	858	481
Other Assets, Total	$ 7,246	$ 6,826

Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Summary of Debt
Secured borrowings - government guaranteed loans	$ 40,213	$ 32,546
Weighted Average Coupon Rate		3.62%
Junior subordinated notes	27,070	$ 27,070
Revolving credit facility	21,000	17,800
SBIC debentures payable	13,187	13,181
Structured notes payable		5,264
Debt	101,470	95,861
Loans sold for a premium and excess spread [Member]
Summary of Debt
Secured borrowings - government guaranteed loans	$ 34,301	$ 26,569
Weighted Average Coupon Rate	3.74%	3.77%
Loans sold for excess spread [Member]
Summary of Debt
Secured borrowings - government guaranteed loans	$ 5,912	$ 5,977
Weighted Average Coupon Rate	1.58%	1.58%
Junior subordinated notes [Member]
Summary of Debt
Weighted Average Coupon Rate	3.72%
Revolving credit facility [Member]
Summary of Debt
Weighted Average Coupon Rate	2.51%	2.47%
Debentures payable [Member]
Summary of Debt
Weighted Average Coupon Rate	4.99%	4.99%
Structured notes payable [Member]
Summary of Debt
Structured Notes Payable Coupon Rate		3.08%

Debt (Details 1) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Principal payments on debt
2013	$ 1,046
2014	5,273
2015	26,120
2016	1,160
2017	1,202
Thereafter	66,672
Total principal payments on debt	101,473	$ 95,870
Structured Notes and Secured Borrowings [Member]
Principal payments on debt
2013	1,046
2014	1,083
2015	1,120
2016	1,160
2017	1,202
Thereafter	34,602
Total principal payments on debt	40,213
All Other Debt [Member]
Principal payments on debt
2014	4,190
2015	25,000
Thereafter	32,070
Total principal payments on debt	$ 61,260

Debt (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Debt (Textual) [Abstract]
Face amount of debt	$ 101,473	$ 95,870
Repayment of structured note date	Feb. 15, 2012

Share-Based Compensation Plans (Details)	6 Months Ended
Share-Based Compensation Plans (Details)	Jun. 30, 2012
Black-Scholes option-pricing model
Expected Term (years)	3 years
Risk-Free Interest Rate	0.39%
Expected Dividend Yield	8.21%
Expected Volatility	21.12%
Expected Forfeiture Rate	1.00%

Share-Based Compensation Plans (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 08, 2012	Mar. 12, 2012	Jun. 10, 2011	Mar. 13, 2011
Share-Based Compensation Plans (Textual) [Abstract]
Total shares available for Grant option Award							27,000
Shares Granted for option Award					30,000
Restricted shares issued to the Board of Trust Managers							5,000
Restricted shares issued to executive officer						10,000		10,000
Exercised Price of Total shares available for Grant option Award							$ 8.75
Exercised Price of shares Granted for option Award					$ 7.80
Current market price of shares issued to the Board of Trust Managers							$ 8.75
Current Market price of restricted shares issued to executive officer						$ 7.27
Current Market price of restricted shares issued to executive officer and Board of Trust								$ 8.72
Compensation expenses option award	$ 12,000	$ 30,000	$ 12,000	$ 30,000
Compensation expenses shares vested	39,000	44,000	39,000	44,000
Total Unrecognized Compensation expenses restricted shares	46,000		46,000
Allocated Share-based Compensation Expense	$ 16,000	$ 24,000	$ 56,000	$ 73,000
Vesting Period			2 years
Terms of Award			The restricted shares vest based on two years of continuous service with one-third of the shares vesting immediately upon issuance of the shares and one-third vesting at the end of each of the next two years.
Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition			2 years

Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Other Income (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Other income
Servicing income	$ 113	$ 103	$ 238	$ 200
Retained interests in transferred assets	51	53	105	106
Loan related income - other	63	46	110	92
Prepayment fees		110	19	110
Other	26	18	57	80
Other Income	$ 253	$ 330	$ 529	$ 588

Income Taxes (Details Textual)	6 Months Ended
Income Taxes (Details Textual)	Jun. 30, 2012
Income Taxes (Textual) [Abstract]
Income distributable to shareholders, minimum	90.00%

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Discontinued Operations (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Discontinued operations
Net gains on sales of real estate		$ 568		$ 570
Net operating losses	(139)	(232)	(270)	(442)
Impairment losses	(183)	(232)	(201)	(232)
Discontinued operations	$ (322)	$ 104	$ (471)	$ (104)

Discontinued Operations (Details Textual) - USD ($)	1 Months Ended	6 Months Ended
Discontinued Operations (Details Textual) - USD ($)	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Discontinued Operations (Textual) [Abstract]
Deferred gains from property sales			$ 683,000
Asset acquired through foreclosure	$ 1,300,000
Proceeds from sale of assets	128,000		$ 111,000
Loss on the disposition of asset	$ 115,000
Estimated fair value of collateral		$ 1,481,000

Earnings Per Share (Details Textual) - shares	3 Months Ended		6 Months Ended
Earnings Per Share (Details Textual) - shares	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Earnings Per Share (Textual) [Abstract]
Weighted average diluted shares outstanding increased	21,000	55,000	18,000	55,000
Stock options not exercised	69,000	39,000	69,000	39,000

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements (Details) - USD ($) $ in Thousands	6 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Estimated fair value of impaired loans on nonrecurring basis
Impaired loans, Carrying value	$ 8,024	$ 2,269	$ 8,257
Impaired loans, Provision for Loan Losses	$ (159)	$ 124

Fair Value Measurements (Details 1) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Activity for our real estate owned
Value - beginning of year				$ 1,259	$ 3,477
Foreclosures	$ 1,300
Sales					(1,331)
Impairment losses		$ (183)	$ (232)	(201)	(232)
Value - end of year	$ 1,914	$ 2,539	$ 1,914	2,539	$ 1,914
Level 3 inputs [Member]
Activity for our real estate owned
Foreclosures				$ 1,481

Fair Value Measurements (Details 2) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011	Dec. 31, 2010
Assets:
Loans receivable, net	$ 243,759	$ 234,427
Cash and cash equivalents	1,309	6,502	$ 4,709	$ 2,642
Restricted cash and cash equivalents	0	2,233
Liabilities:
Secured borrowings - government guaranteed loans	40,213	32,546
Revolving credit facility	21,000	17,800
Junior subordinated notes	27,070	27,070
Carrying Amount [Member]
Assets:
Loans receivable, net	243,759	234,427
Cash and cash equivalents	1,309	6,502
Restricted cash and cash equivalents		2,233
Liabilities:
SBIC debentures and structured notes payable	13,187	18,445
Secured borrowings - government guaranteed loans	40,213	32,546
Revolving credit facility	21,000	17,800
Junior subordinated notes	27,070	27,070
Estimated Fair Value [Member]
Assets:
Loans receivable, net	227,918	224,395
Cash and cash equivalents	1,309	6,502
Restricted cash and cash equivalents		2,233
Liabilities:
SBIC debentures and structured notes payable	13,764	19,027
Secured borrowings - government guaranteed loans	40,213	32,546
Revolving credit facility	21,000	17,800
Junior subordinated notes	$ 22,597	$ 22,595

Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Fair Value Measurements (Textual) [Abstract]
Restricted cash and cash equivalents	$ 0	$ 2,233

Commitments and Contingencies (Details) $ in Thousands	Jun. 30, 2012 USD ($)
Future minimum lease payments
2013	$ 208
2014	214
2015	146
Future Minimum Lease Payments, Total	$ 568

Commitments and Contingencies (Details Textual) $ in Millions	6 Months Ended
	Jun. 30, 2012 USD ($) Payment
Commitments and Contingencies (Textual) [Abstract]
Outstanding loan commitments and approvals to fund loans \| $	$ 22.3
Prime-based loans \| $	$ 15.1
Employment agreements with executive officer expiration date	Dec. 31, 2014
Severance compensation paid in terms of annual compensation	2.99 times the average of the last three years
Death payments in terms of annual salary paid \| Payment	2
Disability payments in terms of annual salary paid \| Payment	1
Lease expiration date of office space in Dallas, Texas	Feb. 01, 2015