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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2012	Mar. 05, 2013	Jun. 30, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	PMC COMMERCIAL TRUST /TX
Entity Central Index Key	0000908311
Document Type	10-K
Document Period End Date	Dec. 31, 2012
Amendment Flag	false
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 76
Entity Common Stock, Shares Outstanding		10,589,554

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Loans receivable, net:
Commercial mortgage loans receivable	$ 125,515	$ 133,327
SBIC commercial mortgage loans receivable	47,153	32,153
SBA 7(a) loans receivable, subject to secured borrowings	38,349	30,476
SBA 7(a) loans receivable	27,974	22,997
Commercial mortgage loans receivable, subject to structured notes payable		15,474
Loans receivable, net	238,991	234,427
Cash and cash equivalents	1,230	6,502
Real estate owned	739	1,259
Restricted cash and cash equivalents		2,233
Other assets	6,747	6,826
Total assets	247,707	251,247
Debt:
Secured borrowings - government guaranteed loans	41,008	32,546
Junior subordinated notes	27,070	27,070
SBIC debentures payable	17,190	13,181
Revolving credit facility	11,900	17,800
Structured notes payable		5,264
Debt	97,168	95,861
Borrower advances	5,942	3,863
Accounts payable and accrued expenses	4,078	2,095
Dividends payable	1,293	1,692
Total liabilities	108,481	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 December 31, 2012 and 2011, respectively; 10,589,554 and 10,574,554 shares outstanding at December 31, 2012 and 2011, respectively	111	111
Additional paid-in capital	153,072	152,934
Net unrealized appreciation of retained interests in transferred assets	278	394
Cumulative net income	173,917	176,096
Cumulative dividends	(184,151)	(177,798)
Beneficiaries' equity before treasury stock	143,227	151,737
Less: Treasury stock; at cost, 536,329 shares at December 31, 2012 and 2011	(4,901)	(4,901)
Total beneficiaries' equity	138,326	146,836
Noncontrolling interests - cumulative preferred stock of subsidiary	900	900
Total equity	139,226	147,736
Total liabilities and equity	$ 247,707	$ 251,247

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

Consolidated Statements of Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenues:
Interest income	$ 13,896	$ 13,571	$ 13,537
Premium income	1,889	1,450	709
Other income	1,280	1,055	1,217
Total revenues	17,065	16,076	15,463
Expenses:
Salaries and related benefits	4,273	4,329	3,927
Strategic alternatives	3,870	778
Interest	3,538	3,693	4,016
General and administrative	2,127	2,010	2,168
Severance and related benefits	2,114
Provision for loan losses, net	1,934	460	641
Total expenses	17,856	11,270	10,752
Income (loss) before income tax benefit (provision) and discontinued operations, net of tax	(791)	4,806	4,711
Income tax benefit (provision)	(565)	(114)	131
Income (loss) from continuing operations	(1,356)	4,692	4,842
Discontinued operations, net of tax	(823)	(1,045)	(545)
Net income (loss)	$ (2,179)	$ 3,647	$ 4,297
Weighted average shares outstanding:
Basic	10,585	10,570	10,554
Diluted	10,585	10,584	10,570
Basic and diluted earnings (loss) per share:
Income (loss) from continuing operations	$ (0.13)	$ 0.44	$ 0.46
Discontinued operations, net of tax	(0.08)	(0.10)	(0.05)
Net income (loss)	$ (0.21)	$ 0.34	$ 0.41

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ (2,179)	$ 3,647	$ 4,297
Change in unrealized appreciation of retained interests in transferred assets:
Net unrealized appreciation (depreciation) arising during period	(5)	223	240
Realized gains included in net income (loss)	(111)	(105)	(24)
Change in net unrealized appreciation of retained interests in transferred assets	(116)	118	216
Comprehensive income (loss)	$ (2,295)	$ 3,765	$ 4,513

- 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

This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 7
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+ Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

- Definition

Net of tax amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities.

+ 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 Balances at Dec. 31, 2009	$ 152,458	$ 111	$ 152,611	$ 325	$ 167,686	$ (164,274)	$ (4,901)	$ 900
Beginning Balances, shares at Dec. 31, 2009		10,548,354
Net unrealized appreciation (depreciation)	216			216
Cumulative effect adjustment	201			(265)	466
Share-based compensation expense	134		134
Share-based compensation expense, shares		9,700
Shares issued through exercise of stock options	$ 11		11
Shares issued through exercise of stock options, shares	1,500	1,500
Dividends ($0.64, $0.64 and $0.60 per share for the period ended December 31, 2010, 2011 and 2012, respectively)	$ (6,757)					(6,757)
Net income (loss)	4,297				4,297
Ending Balances at Dec. 31, 2010	150,560	$ 111	152,756	276	172,449	(171,031)	(4,901)	900
Ending Balances, shares at Dec. 31, 2010		10,559,554
Net unrealized appreciation (depreciation)	118			118
Share-based compensation expense	178		178
Share-based compensation expense, shares		15,000
Dividends ($0.64, $0.64 and $0.60 per share for the period ended December 31, 2010, 2011 and 2012, respectively)	(6,767)					(6,767)
Net income (loss)	3,647				3,647
Ending Balances at Dec. 31, 2011	$ 147,736	$ 111	152,934	394	176,096	(177,798)	(4,901)	900
Ending Balances, shares at Dec. 31, 2011	10,574,554	10,574,554
Net unrealized appreciation (depreciation)	$ (116)			(116)
Share-based compensation expense	138		138
Share-based compensation expense, shares		15,000
Dividends ($0.64, $0.64 and $0.60 per share for the period ended December 31, 2010, 2011 and 2012, respectively)	(6,353)					(6,353)
Net income (loss)	(2,179)				(2,179)
Ending Balances at Dec. 31, 2012	$ 139,226	$ 111	$ 153,072	$ 278	$ 173,917	$ (184,151)	$ (4,901)	$ 900
Ending Balances, shares at Dec. 31, 2012	10,589,554	10,589,554

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Dividends per share	$ 0.60	$ 0.64	$ 0.64
Cumulative Dividends
Dividends per share	$ 0.60	$ 0.64	$ 0.64

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash flows from operating activities:
Net income (loss)	$ (2,179)	$ 3,647	$ 4,297
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Impairment losses	341	887	325
Net losses (gains) on sales of real estate	19	(532)	(78)
Deferred income taxes	(218)	(369)	(645)
Provision for loan losses, net	1,934	460	641
Allowance for accounts receivable	170
Unrealized premium adjustment	1,431	1,441	1,501
Amortization and accretion, net	(153)	(135)	231
Share-based compensation	138	178	134
Capitalized loan origination costs	(348)	(260)	(316)
Loans funded, held for sale	(26,125)	(26,350)	(27,602)
Proceeds from sale of guaranteed loans	18,473	15,774
Principal collected on loans	740	1,812	427
Loan fees remitted, net	(73)	(81)	(20)
Change in operating assets and liabilities:
Borrower advances	2,079	401	1,104
Accounts payable and accrued expenses	1,922	(614)	272
Other liabilities	60	(25)	(54)
Other assets	14	(296)	(321)
Net cash used in operating activities	(1,775)	(4,062)	(20,104)
Cash flows from investing activities:
Loans funded	(28,036)	(12,002)	(10,838)
Principal collected on loans receivable	27,822	19,661	20,572
Principal collected on retained interests in transferred assets	107	132	200
Purchase of furniture, fixtures, and equipment	(33)	(31)
Proceeds from sales of real estate owned, net	716	415	2,373
Proceeds from (investment in) unconsolidated subsidiary		1,373	(1,024)
Release of (investment in) restricted cash and cash equivalents, net	2,233	3,553	(1,024)
Net cash provided by investing activities	2,809	13,101	10,259
Cash flows from financing activities:
Proceeds from issuance of common shares			11
Proceeds from (repayment of) revolving credit facility, net	(5,900)	4,000	(9,200)
Proceeds from issuance of SBIC debentures	4,000	5,000
Payment of principal on structured notes payable	(5,265)	(16,893)	(5,404)
Proceeds from secured borrowings - government guaranteed loans	8,498	11,639	28,445
Payment of principal on secured borrowings - government guaranteed loans	(740)	(1,812)	(427)
Redemption of redeemable preferred stock of subsidiary			(2,000)
Payment of borrowing costs	(147)	(326)
Payment of dividends	(6,752)	(6,787)	(6,776)
Net cash provided by (used in) financing activities	(6,306)	(5,179)	4,649
Net increase (decrease) in cash and cash equivalents	(5,272)	3,860	(5,196)
Cash and cash equivalents, beginning of year	6,502	2,642	7,838
Cash and cash equivalents, end of year	$ 1,230	$ 6,502	$ 2,642

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2012

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 1. Summary of Significant Accounting Policies:

Business

PMC Commercial Trust (“PMC Commercial” or together with its wholly-owned subsidiaries, “we,” “us” or “our”) was organized in 1993 as a Texas real estate investment trust (“REIT”). Our common shares of beneficial interest (“Common Shares”) are traded on the NYSE MKT (symbol “PCC”). We primarily obtain income from the yield and other related fee income earned on our investments from our lending activities. To date, these investments have principally been in the hospitality industry.

Principles of Consolidation

The accompanying consolidated financial statements have been prepared by management in accordance with U.S. generally accepted accounting principles (“GAAP”). We consolidate entities that we control as well as variable interest entities (“VIEs”) for which we are the primary beneficiary. A VIE is an entity for which control is achieved through means other than voting rights. An entity should consolidate a VIE if that entity will absorb a majority of the VIE’s expected losses, receive a majority of the VIE’s expected residual returns, or both. To the extent we do not have a majority voting interest, we use the equity method to account for investments for which we have the ability to exercise significant influence over operating and financial policies. Consolidated net income includes our share of the net earnings of any VIE for which we are not the primary beneficiary. All material intercompany balances and transactions have been eliminated.

During 2005, PMC Commercial issued notes payable (the “Junior Subordinated Notes”) of approximately $27,070,000 due March 30, 2035 to a special purpose subsidiary deemed to be a VIE and recorded our investment in the VIE of $820,000. As a result, our exposure related to the Junior Subordinated Notes is $26,250,000. The Junior Subordinated Notes, included in our consolidated balance sheets, are subordinated to PMC Commercial’s existing debt. Since PMC Commercial is not considered to be the primary beneficiary, the VIE is not consolidated in PMC Commercial’s financial statements and the equity method is used to account for our investment in the VIE.

Recently Issued Accounting Pronouncements

Accounting Standards Concept (“ASC”) topic 310 Update 2011-02 (“ASC 2011-02”) was issued in April 2011. ASC 2011-02 clarified guidance for loans which have been restructured, on a creditor’s evaluation of whether (1) it has granted a concession and (2) a debtor is experiencing financial difficulties. ASC 2011-02 was effective for the first interim or annual period beginning on or after June 15, 2011, and has been applied retrospectively to the beginning of the annual period of adoption. As a result of adopting the amendments in ASC 2011-02, we reassessed all restructurings that occurred on or after January 1, 2011 for identification as troubled debt restructurings. We identified as troubled debt restructurings certain loans receivable for which the loan loss reserves had previously been measured under a general loan loss methodology. Upon identifying these loans receivable as troubled debt restructurings we identified them as impaired under the guidance in Section 310-10-35. The amendments of ASC 2011-02 required prospective application of the impairment measurement guidance in Section 310-10-35 for those loans receivable newly identified as impaired.

ASC topic 820 Update 2011-04 (“ASC 2011-04”); Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP, was issued in May 2011. This ASU provided additional guidance on fair value measurements and required 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 after December 15, 2011. As a result of adopting the amendments in ASC 2011-04, we provided additional fair value disclosure as considered necessary.

Loans Receivable, net

We primarily originate loans to small businesses collateralized by first liens on the real estate of the related business. Loans receivable are carried at their unamortized principal balance less net loan origination fees, discounts and loan loss reserves. For loans originated under the Small Business Administration’s (“SBA”) 7(a) Guaranteed Loan Program (“SBA 7(a) Program”) upon sale of the SBA guaranteed portion of the loans which are accounted for as sales, the unguaranteed portion of the loan retained by us is valued on a fair value basis and a discount (the “Retained Loan Discount”) is recorded as a reduction in basis of the retained portion of the loan.

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 principal and/or interest, 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 values 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 due to the current economic environment. 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 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 relating primarily to the hospitality industry, our historical experience with similar borrowers and/or individual borrower or collateral characteristics, and in certain circumstances, the 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.

Real Estate Owned (“REO”)

REO consists of properties acquired by foreclosure in partial or total satisfaction of non-performing loans. REO acquired in satisfaction of a loan is recorded at estimated fair value less estimated costs to sell the property at the date of foreclosure. Any excess of the carrying value of the loan over the estimated fair value of the property less estimated costs to sell is charged-off to the loan loss reserve when title to the property is obtained. Any excess of the estimated fair value of the property less estimated costs to sell and the carrying value of the loan is recorded as gain on foreclosure within discontinued operations when title to the property is obtained. Subsequent to foreclosure, REO is valued at the lower of cost or market. Any impairment losses and operating costs subsequent to foreclosure are recorded within discontinued operations.

Cash and Cash Equivalents

We generally consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Generally, we maintain cash and cash equivalents in accounts in excess of federally insured limits with a financial institution. We regularly monitor the financial institution and do not believe a significant credit risk is associated with the deposits in excess of federally insured amounts.

Restricted Cash and Cash Equivalents

Represented the collection and cash reserve accounts required to be held on behalf of the structured noteholders as collateral pursuant to the securitization transaction documents. Cash reserve accounts were required to be used to repay the structured noteholders pursuant to the transaction documents.

Deferred Borrowing Costs

Costs incurred in connection with the issuance of debt are capitalized and are being amortized to expense over the life of the related obligation using the effective interest method. Deferred borrowing costs are included in other assets on our consolidated balance sheets.

Borrower Advances

In general, as part of the monitoring process to verify that the borrowers’ cash equity is utilized for its intended purpose, we receive deposits from our borrowers and release funds upon presentation of appropriate documentation. Funds held on behalf of borrowers are included as a liability on the consolidated balance sheets.

Revenue Recognition Policies

Interest Income

Interest income includes interest earned on loans and our short-term investments and the amortization of net loan origination fees and discounts. Interest income on loans is accrued as earned with the accrual of interest suspended when the related loan becomes a non-accrual loan. A loan receivable is generally classified as non-accrual (a “Non-Accrual Loan”) if (1) it is past due as to payment of principal or interest for a period of 60 days or more, (2) any portion of the loan is classified as doubtful or is charged-off or (3) if the repayment in full of the principal and/or interest is in doubt. Generally, loans are charged-off when management determines that we will be unable to collect any remaining amounts due under the loan agreement, either through liquidation of collateral or other means. Interest income on a Non-Accrual Loan is recognized on either the cash basis or the cost recovery basis.

Origination fees and direct loan origination costs, net, are deferred and recognized as an adjustment of yield over the life of the related loan receivable using the effective interest method. Direct origination costs include broker fees paid, if any, and capitalization of allocated payroll costs in originating the loan.

For loans recorded with a Retained Loan Discount, these discounts are recognized as an adjustment of yield over the life of the related loan receivable using the effective interest method.

Premium Income

We sell the government guaranteed portion of our SBA 7(a) Program loans to investors. These government guaranteed portions may be sold for (1) a cash premium and the minimum 1% SBA required servicing spread, (2) future servicing spread greater than 1% and no cash premium or (3) future servicing spread greater than 1% and a 10% cash premium. The government guaranteed portion of loans sold for a cash premium and the minimum 1% SBA required servicing spread are recorded as sales (i.e., we record premium income). Premium income represents the difference between the relative fair value attributable to the sale of the government guaranteed portion of a loan originated under the SBA 7(a) Program for a cash premium and the SBA required 1% servicing spread and the principal balance (cost) allocated to the loan. We are required to permanently treat certain of the proceeds received from legally sold portions of loans (those loans sold solely for excess spread and those sold for a cash premium and excess spread) as secured borrowings (a liability on our consolidated balance sheet) for the life of the loan. To the extent secured borrowings include cash premiums, these premiums are amortized as a reduction to interest expense over the life of the loan using the effective interest method and any remaining balance is fully amortized when the loan is repaid in full.

Other Income

Other income consists primarily of servicing income, prepayment fees, income from retained interests in transferred assets and other loan related income. Servicing income represents the fees we receive for servicing the sold portion of our SBA 7(a) Program loans and is recognized as revenue when the services are performed. Historically, we also recorded servicing income for fees received for servicing loans of our off-balance sheet securitizations. Prepayment fees are recognized as revenue when loans are prepaid and the fee is received. Income from retained interests in transferred assets represents the accretion (recognized using the effective interest method) on our retained interests which is determined based on estimates of future cash flows. Other loan related fees, including late fees, are recognized as revenue when chargeable, assuming collectibility is reasonably assured.

Income Taxes

We have elected to be taxed as a REIT under the provisions of the Internal Revenue Code of 1986, as amended (the “Code”). To the extent we qualify for taxation as a REIT, we generally will not be subject to a Federal corporate income tax on our taxable income that is distributed to our shareholders. We may, however, be subject to certain Federal excise taxes and state and local taxes on our income and property. If PMC Commercial fails to qualify as a REIT in any taxable year, it will be subject to Federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and will not be able to qualify as a REIT for four subsequent taxable years. In order to remain qualified as a REIT under the Code, we must satisfy various requirements in each taxable year, including, among others, limitations on share ownership, asset diversification, sources of income, and the distribution of at least 90% of our taxable income within the specified time in accordance with the Code.

PMC Commercial has wholly-owned taxable REIT subsidiaries (“TRS’s”) which are subject to Federal income taxes. The income generated from the taxable REIT subsidiaries is taxed at normal corporate rates. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.

We have established a policy on classification of penalties and interest related to audits of our Federal and state income tax returns. If incurred, our policy for recording interest and penalties associated with audits will be to record such items as a component of income before income tax benefit (provision) and discontinued operations. Penalties, if incurred, will be recorded in general and administrative expense and interest paid or received will be recorded in interest expense or interest income, respectively, in the consolidated statements of income (loss).

Earnings (Loss) per Share (“EPS”)

EPS is computed by dividing net income (loss) by the weighted-average number of shares outstanding. Diluted EPS includes the dilutive effect, if any, of share-based compensation awards.

Distributions to Shareholders

Distributions to shareholders are recorded on the ex-dividend date.

Share-Based Compensation Plans

We have options outstanding and issue restricted shares under share-based compensation plans described more fully in Note 14. We use fair value recognition provisions to account for all awards granted, modified or settled.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from our estimates. Our most sensitive estimates involve determination of loan loss reserves and valuation of our real estate owned.

Loans Receivable, net

12 Months Ended

Dec. 31, 2012

Loans Receivable, net [Abstract]

Loans Receivable, net

Note 2. Loans Receivable, net:

Loans receivable, net, consisted of the following:


	December 31,
	2012		2011
	(In thousands)
Commercial mortgage loans	$	128,401	$	134,835
SBIC commercial mortgage loans		47,621		32,416
SBA 7(a) loans, subject to secured borrowings		37,909		30,151
SBA 7(a) loans		28,196		23,238
Commercial mortgage loans, subject to structured notes payable (1)		-		15,474

Total loans receivable		242,127		236,114
Add/(deduct):
Deferred capitalized costs, net		277		125
Loan loss reserves		(3,413)		(1,812)

Loans receivable, net	$	238,991	$	234,427

(1)

We repaid the remaining 2003 Joint Venture structured notes on February 15, 2012.

Commercial mortgage loans

Represents the loans held by the 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; therefore, no loan loss reserves are recorded on the $37.9 million and $30.2 million, respectively, of government guaranteed portions of these SBA 7(a) loans included in loans receivable at December 31, 2012 and 2011.

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 Loans Discounts of $2.1 million and $1.6 million at December 31, 2012 and 2011, respectively.

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 December 31, 2012, 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, bankruptcies or other political or geopolitical events, could have a material adverse effect on our financial condition and results of operations.

At December 31, 2012 and 2011, 15% 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 December 31, 2012 or 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 approximately 5% of our loans receivable at December 31, 2012. Any significant 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 principal on these loans). Balances are prior to loan loss reserves and deferred capitalized costs, net.


December 31, 2012
Category	Totals			Commercial Mortgage Loans			SBA 7(a) Loans
	(Dollars in thousands)
Current (1)	$	198,282	97.1%	$	170,429	96.8%	$	27,853	98.8%
Between 30 and 59 days delinquent (2)		2,824	1.4%		2,482	1.4%		342	1.2%
Between 60 and 89 days delinquent		1	-		-	-		1	-
Over 89 days delinquent (3)		3,111	1.5%		3,111	1.8%		-	-

	$	204,218	100.0%	$	176,022	100.0%	$	28,196	100.0%

(1)

Includes $7.6 million of commercial mortgage loans classified as troubled debt restructurings which are current at December 31, 2012 based on revised note terms.

(2)

Includes $2.3 million of loans classified as troubled debt restructurings. We are currently in the process of foreclosing on the collateral underlying an SBA 7(a) Program loan – a limited service hospitality property - with a principal balance of $211,000 (excluding the government guaranteed portion as it was sold as a hybrid).

(3)

Loans are classified as troubled debt restructurings. We are currently in the process of foreclosing on the collateral underlying these loans – two limited service hospitality properties.


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 were current based on revised note terms. Of these loans, $5.6 million were paying interest only.

(2)

Includes a $1.4 million loan on which the borrowers filed for Chapter 11 Bankruptcy. We were classified as a secured creditor in the bankruptcy proceedings.

Loan Loss Reserves

Management closely monitors our loans which require evaluation for loan loss reserves based on specific identification metrics which are classified 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 on which the fair value of the collateral is less than the remaining unamortized principal balance. 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 the borrowers are current on their payments; however, they may be delinquent on their property taxes, insurance, or franchise fees or may be under agreements which provide 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 commitment fees):


	December 31, 2012
	Totals		%		Commercial Mortgage Loans		%		SBA 7(a) Loans		%
	(Dollars in thousands)
Satisfactory	$	187,749		92.0%	$	159,994		90.9%	$	27,755		98.5%
OAEM		81		-		-		-		81		0.3%
Substandard		13,043		6.4%		12,917		7.3%		126		0.4%
Doubtful		3,345		1.6%		3,111		1.8%		234		0.8%

	$	204,218		100.0%	$	176,022		100.0%	$	28,196		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		96.6%
OAEM		3,354		1.6%		3,317		1.8%		37		0.1%
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 and recoveries of loan losses) as a percentage of our weighted average Loans Receivable Subject To Credit Risk was 1.25% and 0.40% during 2012 and 2011, respectively. Whenever our borrowers experience significant operating difficulties and we are forced to liquidate the collateral underlying the loan, future losses may be substantial.

During the five-year period ended December 31, 2012, our aggregate provision for loan losses, net, was approximately $4.5 million or 46 basis points per year based on the five-year average of our Loans Receivable Subject To Credit Risk. Our total loan loss reserves as a percentage of our weighted average Loans Receivable Subject To Credit Risk were 1.70% at December 31, 2012.

The activity in our loan loss reserves was as follows:


	Year Ended December 31, 2012
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,812	$	1,329	$	483
Provision for loan losses		2,505		2,219		286
Reduction of loan losses		(104)		(70)		(34)
Recoveries		(467)		(467)		-
Principal balances written-off, net		(333)		(161)		(172)

Balance, end of year	$	3,413	$	2,850	$	563

Recoveries represent cash proceeds from collections on personal loan guarantees to the extent there is a deficiency after foreclosure of the real property collateral and to the extent cash received does not exceed realized losses taken on the property.


	Year Ended December 31, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,609	$	1,303	$	306
Provision for loan losses		826		429		397
Reduction of loan losses		(366)		(342)		(24)
Principal balances written-off		(257)		(61)		(196)

Balance, end of year	$	1,812	$	1,329	$	483


	Year Ended December 31, 2010
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,257	$	1,055	$	202
Provision for loan losses		1,019		607		412
Reduction of loan losses		(378)		(309)		(69)
Consolidation of the 2000 Joint Venture and the 1998 Partnership reserves		184		184		-
Principal balances written-off		(473)		(234)		(239)

Balance, end of year	$	1,609	$	1,303	$	306

Impaired Loan Data

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


	At December 31, 2012
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Impaired loans requiring reserves (1)	$	10,927	$	10,049	$	878
Impaired loans expected to be fully recoverable (1)		2,244		2,123		121

Total impaired loans (2)	$	13,171	$	12,172	$	999


Loan loss reserves	$	1,535	$	1,382	$	153


	At December 31, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Impaired loans requiring reserves (1)	$	7,411	$	7,027	$	384
Impaired loans expected to be fully recoverable (1)		846		689		157

Total impaired loans (3)	$	8,257	$	7,716	$	541


Loan loss reserves	$	563	$	372	$	191


	At December 31, 2010
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Impaired loans requiring reserves (1)	$	687	$	419	$	268
Impaired loans expected to be fully recoverable (1)		228		228		-

Total impaired loans (4)	$	915	$	647	$	268


Loan loss reserves	$	219	$	25	$	194

(1)

Balances represent our recorded investment. For 2012 and 2011, includes loans classified as troubled debt restructurings.

(2)

The unpaid principal balance of our impaired commercial mortgage loans was $12,704,000 at December 31, 2012. The unpaid principal balance of our impaired SBA 7(a) loans (excluding the government guaranteed portion) was $362,000 at December 31, 2012.

(3)

The unpaid principal balance of our impaired commercial mortgage loans was $7,940,000 at December 31, 2011. The unpaid principal balance of our impaired SBA 7(a) loans (excluding the government guaranteed portion) was $593,000 at December 31, 2011.

(4)

The unpaid principal balance of our impaired commercial mortgage loans was $678,000 at December 31, 2010. The unpaid principal balance of our impaired SBA 7(a) loans (excluding the government guaranteed portion) was $288,000 at December 31, 2010.


	Year Ended December 31, 2012
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	9,895	$	9,116	$	779


Interest income on impaired loans	$	372	$	359	$	13


	Year Ended December 31, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	8,176	$	7,610	$	566


Interest income on impaired loans	$	290	$	271	$	19


	Year Ended December 31, 2010
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	4,317	$	3,558	$	759


Interest income on impaired loans	$	114	$	89	$	25

Our recorded investment in Non-Accrual Loans at December 31, 2012 of $5,768,000 was comprised of an $855,000 SBA 7(a) Program loan and $4,913,000 of commercial mortgage loans. Included within the non-accrual SBA 7(a) loan is the government guaranteed portion of $634,000 (i.e., the loan has a related secured borrowing as it was sold as a hybrid) on which we have no credit loss exposure. The collateral securing the majority of our Non-Accrual Loans at December 31, 2012 is currently in the process of foreclosure. Our recorded investment in Non-Accrual Loans at December 31, 2011 of $1,820,000 was comprised of $384,000 of SBA 7(a) Program 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 December 31, 2012 or 2011.

Information on our troubled debt restructurings was as follows at December 31, 2012 and 2011:


	December 31, 2012
	Commercial Mortgage Loans				SBA 7(a) Loan
	Recorded Investment		Unpaid Principal Balance		Recorded Investment		Unpaid Principal Balance
	(In thousands)
Troubled debt restructurings requiring reserves (1)	$	10,049	$	10,531	$	854	$	846
Troubled debt restructurings without reserves		2,123		2,172		-		-

Total troubled debt restructurings	$	12,172	$	12,703	$	854	$	846


Number of loans		8				1


Loan loss reserves	$	1,382			$	130

(1)

The SBA 7(a) loan recorded investment and unpaid principal balance includes the government guaranteed portion of $634,000 on which we have no credit loss exposure. This loan is no longer complying with its modified terms, including lack of required payments. We are currently in the process of foreclosing on the collateral underlying this loan.

Loans with a recorded investment at December 31, 2012 of $4.8 million were modified voluntarily under agreements to allow extended interest only periods instead of the principal and interest payments required by the notes. In addition, loans with a recorded investment at December 31, 2012 of $6.0 million were modified involuntarily through Chapter 11 bankruptcy proceedings. The bankruptcy plans were confirmed with modified terms including interest only and amortization periods or modification of timing of payments combined with interest rate adjustments. Of these, $3.1 million of loans are no longer complying with their modified terms, including lack of required payments. We are currently in the process of foreclosing on the collateral underlying these loans.


	December 31, 2011
	Commercial Mortgage Loans
	Recorded Investment		Unpaid Principal Balance
	(In thousands)
Troubled debt restructurings requiring reserves	$	5,591	$	5,730
Troubled debt restructurings without reserves		689		749

Total troubled debt restructurings	$	6,280	$	6,479


Number of loans		4


Loan loss reserves	$	236

The modifications were primarily extended interest only periods; however, for one loan the borrower filed Chapter 11 Bankruptcy and the plan was confirmed with modified terms included an extended only interest period and re-amortization. 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

12 Months Ended

Dec. 31, 2012

Other Assets [Abstract]

Other Assets

Note 3. Other Assets:

Other assets consisted of the following:


	December 31,
	2012			2011
	(In thousands)
Deferred tax asset, net		$	1,626	$	1,409
Servicing asset, net			1,261		979
Deferred borrowing costs, net			1,218		1,128
Investment in VIE			820		820
Retained interests in transferred assets			773		996
Interest receivable			620		710
Prepaid expenses and deposits			330		303
Other			99		481

		$	6,747	$	6,826

Debt

12 Months Ended

Dec. 31, 2012

Debt [Abstract]

Debt

Note 4. Debt:

Information on our debt was as follows:


	Carrying Value at December 31, (1)				Weighted Average Coupon Rate at December 31,
	2012		2011		2012		2011
	(Dollars in thousands, except footnotes)

Secured borrowings - government guaranteed loans:
Loans sold for a premium and excess spread - principal	$	32,062	$	24,174		4.09%		4.15%
Loans sold for a premium and excess spread - deferred premiums		3,099		2,395		-		-
Loans sold for excess spread		5,847		5,977		1.58%		1.58%

		41,008		32,546

Junior subordinated notes		27,070		27,070		3.61%		3.62%
Debentures payable		17,190		13,181		4.47%		4.99%
Revolving credit facility (2)		11,900		17,800		2.30%		2.47%
Structured notes payable (3)		-		5,264		NA		3.08%

Debt	$	97,168	$	95,861

(1)

The face amount of debt as of December 31, 2012 and 2011 was $97,168,000 and $95,870,000, respectively.

(2)

Proceeds on the revolving credit facility were $48,300,000, $41,800,000 and $34,650,000 during the years ended December 31, 2012, 2011 and 2010, respectively. Repayments on the revolving credit facility were $54,200,000, $37,800,000 and $43,850,000 during the years ended December 31, 2012, 2011 and 2010, respectively.

(3)

We repaid the structured notes on February 15, 2012.

Secured borrowings – government guaranteed loans

Secured borrowings – government guaranteed loans represents sold SBA 7(a) Program loans which are treated as secured borrowings if the loans were sold solely for excess spread or if the loans were sold for excess spread and a cash premium of 10%. To the extent secured borrowings include cash premiums, these premiums are included in secured borrowings and amortized as a reduction to interest expense over the life of the loan using the effective interest method and fully amortized when the loan is repaid in full.

Junior subordinated notes

The Junior Subordinated Notes bear interest at a floating rate which resets on a quarterly basis at the 90-day LIBOR plus 3.25%. The Junior Subordinated Notes may be redeemed at par at our option. Interest payments are due on a quarterly basis.

Debentures payable

Debentures represent amounts due to the SBA and have semi-annual interest only payments until maturity.

Revolving credit facility

PMC Commercial has a revolving credit facility which expires on June 30, 2014. The amount available under the revolving credit facility automatically increased on January 1, 2013 from $35 million to $40 million. We are charged interest on the balance outstanding under the revolving credit facility at our election of either the prime rate of the lender less 50 basis points or the 30-day LIBOR plus 2%. In addition, we are charged an unused fee equal to 37.5 basis points computed based on our daily available balance. The credit facility requires us to meet certain covenants. We have a minimum net worth covenant within our credit facility that may limit our ability to pay dividends. The minimum net worth covenant is $134.5 million at December 31, 2012 and $132.0 million from January 1, 2013 and thereafter. At December 31, 2012, we were in compliance with the covenants of this facility.

Structured notes payable

Structured notes payable were collateralized by the loans of the securitizations.

Principal payments on, and estimated amortization of, our debt at December 31, 2012 was as follows:


	Secured Borrowings
Years Ending December 31,	Total		Principal (1)		Deferred Premiums (2)		All Other Debt (3)
	(In thousands)
2013	$	6,122	$	1,717	$	215	$	4,190
2014		13,173		1,121		152		11,900
2015		5,312		1,160		152		4,000
2016		1,353		1,201		152		-
2017		1,397		1,245		152		-
Thereafter		69,811		31,465		2,276		36,070

	$	97,168	$	37,909	$	3,099	$	56,160

(1)

Principal payments are generally 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 underlying loans.

(2)

Represents cash premiums collected on loans sold for excess spread and a cash premium of 10% which are amortized as a reduction to interest expense over the life of the loan. Our estimate of their amortization will differ from actual amounts to the extent we experience prepayments and/or loan liquidations or charge-offs.

(3)

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

During 2012, 2011 and 2010 interest paid was $3,495,000, $3,733,000, and $3,791,000, respectively.

- 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

Cumulative Preferred Stock of Subsidiary

12 Months Ended

Dec. 31, 2012

Cumulative Preferred Stock of Subsidiary/Dividends Paid and Declared [Abstract]

Cumulative Preferred Stock of Subsidiary

Note 5. Cumulative Preferred Stock of Subsidiary:

One of our SBICs has outstanding 30,000 shares of $100 par value, 3% cumulative preferred stock (the “3% Preferred Stock”) held by the SBA. Our SBIC is entitled to redeem, in whole or part, the 3% Preferred Stock by paying the par value ($3.0 million) of these securities plus dividends accumulated and unpaid on the date of redemption. While the 3% Preferred Stock may be redeemed, redemption is not mandatory. The 3% Preferred Stock was valued at $900,000 when acquired in 2004. Dividends of $90,000 were recorded on the 3% Preferred Stock during 2012, 2011 and 2010 and are reflected in our consolidated statements of income as interest expense.

EPS

12 Months Ended

Dec. 31, 2012

EPS [Abstract]

EPS

Note 6. EPS:

The computations of basic EPS are based on our weighted average shares outstanding. The weighted average number of common shares outstanding was 10,585,000, 10,570,000 and 10,554,000 for the years ended December 31, 2012, 2011 and 2010, respectively. For purposes of calculating diluted earnings per share, the weighted average shares outstanding were increased by 14,000 and 16,000 shares during 2011 and 2010, respectively, for the dilutive effect of share options. No shares were added to the weighted average shares outstanding for purposes of calculating diluted earnings per share during 2012 as options were anti-dilutive.

Not included in the computation of diluted earnings per share were outstanding options to purchase 112,500, 81,000 and 77,000 common shares during 2012, 2011 and 2010, respectively, because the options’ exercise prices were greater than the average market price of the shares.

Dividends Paid and Declared

12 Months Ended

Dec. 31, 2012

Cumulative Preferred Stock of Subsidiary/Dividends Paid and Declared [Abstract]

Dividends Paid and Declared

Note 7. Dividends Paid and Declared:

During 2012, our dividends were declared as follows:


Record Date	Date Paid	Amount Per Share
March 30, 2012	April 9, 2012	$	0.16
June 29, 2012	July 9, 2012		0.16
September 28, 2012	October 9, 2012		0.16
December 31, 2012	January 7, 2013		0.12

		$	0.60

We have a covenant within our revolving credit facility that limits our ability to pay dividends. This restriction has not historically limited the amount of dividends we have paid and management does not believe that it will restrict future dividend payments.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ 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.(d),(e))
-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 505
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-Section 50
-Paragraph 4
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Topic 210
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-Section S99
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.3-04)
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 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 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-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.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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-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 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 21: http://www.xbrl.org/2003/role/presentationRef
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Reference 22: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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-Paragraph 2, 3, 4, 5, 6, 7, 8
-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 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Other Income

12 Months Ended

Dec. 31, 2012

Other Income [Abstract]

Other Income

Note 8. Other Income:

Other income consisted of the following:


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Servicing income	$	499	$	399	$	344
Prepayment fees		279		118		378
Loan related income		221		196		226
Retained interests in transferred assets		189		215		163
Other		92		127		106

	$	1,280	$	1,055	$	1,217

Severance and Related Benefits

12 Months Ended

Dec. 31, 2012

Severance and Related Benefits [Abstract]

Severance and Related Benefits

Note 9. Severance and Related Benefits:

In October 2012, we entered into a mutual separation agreement with our former Chief Executive Officer under which the former Chief Executive Officer stepped down as an employee and agreed to serve as a consultant to us for a one-year period. In connection with this separation agreement, we recorded severance and related benefits expense of $2,114,000.

Included within accounts payable and accrued expenses on our consolidated balance sheet is the remaining liability for severance payments of $1,806,000.

Income Taxes

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Income Taxes

Note 10. Income Taxes:

PMC Commercial has elected to be taxed as a REIT under 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 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.

The following reconciles net income (loss) to REIT taxable income (loss):


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Net income (loss)	$	(2,179)	$	3,647	$	4,297
Book/tax differences:
Gains related to real estate		-		(235)		387
Strategic alternatives		(678)		678		-
Impairment losses		300		804		317
Severance accrual (payments)		1,777		(100)		(33)
Amortization and accretion		(188)		(68)		(102)
Loan valuation		1,403		184		(241)
Other, net		157		8		(174)

Subtotal		592		4,918		4,451

Adjustment for TRS net loss (income), net of tax		(840)		(131)		340
Dividend distribution from TRS		-		1,000		300

REIT taxable income (loss)	$	(248)	$	5,787	$	5,091


Distributions declared	$	6,353	$	6,767	$	6,757


Basic weighted average common shares outstanding		10,585		10,570		10,554

Dividends per share for dividend reporting purposes were as follows:


	Years Ended December 31,
	2012				2011				2010
	Amount Per Share		Percent		Amount Per Share		Percent		Amount Per Share		Percent
Non-qualified dividends	$	-		-	$	0.477		74.53%	$	0.568		88.75%
Qualified dividends		-		-		0.095		14.78%		0.028		4.37%
Non-taxable return of capital		0.600		100.00%		0.068		10.69%		0.044		6.88%

	$	0.600		100.00%	$	0.640		100.00%	$	0.640		100.00%

During 2012, due primarily to deductible expenses related to exploration of strategic alternatives, we had a taxable loss. Thus, all dividends were deemed to be non-taxable returns of capital.

In general, in order to meet our taxable income distribution requirements, we may make an election under the Code to treat a portion of the distributions declared and paid in the current year as distributions of the prior year’s taxable income.

PMC Commercial has wholly-owned TRS’s which are subject to Federal income taxes. The income generated from the TRS’s is taxed at normal corporate rates.

We calculate our current and deferred tax provisions based on estimates and assumptions that could differ from the actual results reflected in income tax returns filed during the subsequent year. Adjustments based on the final tax returns are generally recorded in the period when the returns are filed.

Income tax provision (benefit) related to the TRS’s consisted of the following:


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Federal:
Current provision	$	821	$	483	$	514
Deferred benefit		(256)		(369)		(645)

Income tax provision (benefit)	$	565	$	114	$	(131)

In addition, income tax benefit of $115,000 for the year ended December 31, 2012 is included in discontinued operations based on operating losses of REO of our TRS’s.

The provision (benefit) for income taxes results in effective tax rates that differ from Federal statutory rates of 34%. The reconciliation of TRS income tax attributable to income (loss) from continuing operations computed at Federal statutory rates to income tax provision (benefit) was as follows:


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Income (loss) from continuing operations before income taxes for TRS’s	$	1,628	$	245	$	(471)

Expected Federal income tax provision (benefit)	$	553	$	83	$	(160)
Preferred dividend of subsidiary		31		31		31
Other adjustments		(19)		-		(2)

Income tax provision (benefit)	$	565	$	114	$	(131)

We have identified our Federal tax returns and our state returns in Texas as “major” tax jurisdictions. The periods subject to examination for our Federal tax returns and state returns in Texas are the 2009 through 2011 tax years. We believe that all income tax filing positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material change to our financial position. Therefore, no reserves for uncertain tax positions have been recorded.

The components of our net deferred tax asset were as follows:


	December 31,
	2012		2011
	(In thousands)
Deferred tax assets:
Secured borrowings - government guaranteed loans	$	1,054	$	814
Retained interests in transferred assets		387		364
Servicing asset		268		225
Net operating losses		25		25
Other		69		38

Total gross deferred tax assets		1,803		1,466


Deferred tax liabilities:
Loans receivable		177		56
Discount on debentures payable		-		1

Total gross deferred tax liabilities		177		57


Deferred tax asset, net	$	1,626	$	1,409

The net operating loss carryforwards at December 31, 2012 were generated by a TRS and are available to offset future taxable income of this TRS. The net operating loss carryforwards expire from 2027 to 2031.

We paid $617,000, $612,000 and $538,000 in income taxes during 2012, 2011 and 2010, respectively.

- 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

+ Details

Discontinued Operations, Net of Tax

12 Months Ended

Dec. 31, 2012

Discontinued Operations, Net of Tax [Abstract]

Discontinued Operations, Net of Tax

Note 11. Discontinued Operations, Net of Tax:

Our discontinued operations consisted of the following:


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Net gains (losses) on sales of real estate	$	(15)	$	532	$	78
Net operating losses		(582)		(690)		(298)
Impairment losses		(341)		(887)		(325)
Income tax benefit		115		-		-

Discontinued operations, net of tax	$	(823)	$	(1,045)	$	(545)

Net gains (losses) on sales of real estate generally represents gains (losses) on the sales of hotel properties and income recognition of previously unamortized gains. During 2012, we foreclosed on the underlying collateral (limited service hospitality properties) of two loans with an estimated fair value at foreclosure of $1,481,000 and sold both of these properties during 2012. One property was sold for $1,375,000 including cash proceeds of $550,000 and financing of $825,000. The other property was sold solely for cash proceeds. No gain or loss was recorded on these sales. In addition, we sold a property during 2012 with an estimated fair value of $76,000 and recorded a loss of $19,000. During 2011, previously deferred gains of $685,000 from property sales we financed were recorded as gains on sales of real estate due to principal reductions on the underlying loans. We also sold two properties during 2011 and recorded net losses of $153,000 which offset our gains on sales of real estate during this year. We also had a gain on the sale of REO acquired through foreclosure of $76,000 during 2010.

Net operating losses relate to the operations and holding costs of our REO.

Impairment losses represent declines in the estimated fair value of our REO subsequent to initial valuation. Impairment losses during 2012 primarily relate to a retail establishment acquired in the third quarter of 2009 which continues to experience declines in its value. During 2011, our impairment losses are primarily related to a full service hospitality property. The property experienced significant operating losses, is in need of major capital improvements and has been held for an extended period of time with limited market sales activity, including an unsuccessful auction during the third quarter of 2011, which contributed to the decline in its value. During 2010, our impairment losses are related to the full service hospitality property and a retail establishment.

- 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
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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

Dividend Reinvestment and Cash Purchase Plan

12 Months Ended

Dec. 31, 2012

Dividend Reinvestment And Cash Purchase Plan [Abstract]

Dividend Reinvestment and Cash Purchase Plan

Note 12. Dividend Reinvestment and Cash Purchase Plan:

We have a dividend reinvestment and cash purchase plan (the “Plan”). Participants in the Plan have the option to reinvest all or a portion of dividends received. The purchase price of the Common Shares is 100% of the average of the closing price of the Common Shares as published for the five trading days immediately prior to the dividend record date or prior to the optional cash payment purchase date, whichever is applicable. Our transfer agent, on our behalf, uses the open market to purchase Common Shares with proceeds from the dividend reinvestment portion of the Plan.

Profit Sharing Plan

12 Months Ended

Dec. 31, 2012

Profit Sharing Plan [Abstract]

Profit Sharing Plan

Note 13. Profit Sharing Plan:

We have a profit sharing plan available to our full-time employees after one year of employment. Vesting increases ratably to 100% after the sixth year of employment. Pursuant to our profit sharing plan, approximately $247,000, $234,000 and $216,000 was expensed during 2012, 2011 and 2010, respectively. Contributions to the profit sharing plan are at the discretion of our Board of Trust Managers.

Share-Based Compensation Plans

12 Months Ended

Dec. 31, 2012

Share-Based Compensation Plans [Abstract]

Share-Based Compensation Plans

Note 14. Share-Based Compensation Plans:

At December 31, 2012, we had options outstanding under share-based compensation plans. The 2005 Equity Incentive Plan was approved by our shareholders on June 11, 2005 and permits the grant of options to our employees, executive officers and Board of Trust Managers and restricted shares to our executive officers and Board of Trust Managers for up to 500,000 Common Shares. We believe that these awards better align the interests of our employees, executive officers and Board of Trust Managers with those of our shareholders.

Option awards are granted with an exercise price equal to the market price of our Common Shares at the date of grant and vest immediately upon grant with five-year contractual terms. A summary of the status of our stock options as of December 31, 2012, 2011 and 2010 and the changes during the years ended on those dates are as follows:


	2012				2011				2010
	Number of		Weighted		Number of		Weighted		Number of		Weighted
	Shares		Average		Shares		Average		Shares		Average
	Underlying		Exercise		Underlying		Exercise		Underlying		Exercise
	Options		Prices		Options		Prices		Options		Prices
Outstanding, January 1		94,750		$9.09		90,750		$10.11		89,650		$11.77
Granted		30,000		$7.80		27,000		$8.75		26,500		$8.35
Exercised		-		-		-		-		(1,500)		$7.65
Expired		(12,250)		$14.01		(23,000)		$12.72		(23,900)		$14.54


Outstanding and exercisable, December 31		112,500		$8.21		94,750		$9.09		90,750		$10.11


Weighted-average fair value per share of stock options granted during the year		$0.40				$1.10				$1.24

Upon notification of intent to exercise stock options, our policy is to first verify that the options are exercisable, then to contact our transfer agent instructing them to issue new shares and then to collect the cash proceeds.

The fair value of each share option granted is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:


	Years Ended December 31,
	2012		2011		2010
Assumption:
Expected Term (years)		3.0		3.0		3.0
Risk-Free Interest Rate		0.39%		0.71%		1.23%
Expected Dividend Yield		8.21%		7.31%		7.66%
Expected Volatility		21.12%		33.58%		40.29%
Forfeiture Rate		1.00%		2.00%		10.00%

The expected term of the options represents the period of time that the options are expected to be outstanding and was determined based on our historical data. The risk-free rate was based on the 3-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, $30,000 and $33,000 during 2012, 2011 and 2010, respectively, related to these option grants.

The following table summarizes information about share options outstanding at December 31, 2012:


	Options Outstanding and Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contract Life (in years)		Weighted Average Exercise Price
$7.65 to $7.80		44,000		3.25		$7.75
$8.35 to $8.75		68,500		2.62		$8.51

$7.65 to $8.75		112,500		2.87		$8.21

A summary of our restricted shares as of December 31, 2012, 2011 and 2010 and the changes during the years ended on those dates are as follows:


	2012				2011				2010
	Number of Shares		Weighted Average Grant Date Fair Value Per Share		Number of Shares		Weighted Average Grant Date Fair Value Per Share		Number of Shares		Weighted Average Grant Date Fair Value Per Share
Balance, January 1		11,031		$8.57		12,066		$8.35		17,416		$8.14
Granted		15,000		$7.45		15,000		$8.73		13,100		$8.35
Vested		(19,365)		$7.98		(16,035)		$8.55		(15,050)		$8.11
Forfeited		-		-		-		-		(3,400)		$8.35

Balance, December 31		6,666		$7.75		11,031		$8.57		12,066		$8.35

The restricted share awards generally 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 $126,000, $148,000 and $101,000 during 2012, 2011 and 2010, respectively, related to our restricted share issuances. At December 31, 2012, there was $15,000 of total unrecognized compensation expense related to the restricted shares which will be recognized over the next two years. The estimated fair value of restricted shares vested during 2012 was $145,000.

- 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
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-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

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-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

Supplemental Disclosure of Cash Flow Information

12 Months Ended

Dec. 31, 2012

Supplemental Disclosure of Cash Flow Information [Abstract]

Supplemental Disclosure of Cash Flow Information

Note 15. Supplemental Disclosure of Cash Flow Information:

Our non-cash activities were as follows:


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Reclassification from loans receivable to real estate owned	$	1,481	$	409	$	4,040


Loans receivable originated to facilitate sales of real estate owned	$	1,225	$	1,172	$	3,325


Reclassifications reducing secured borrowings - government guaranteed loans and loans receivable, net	$	-	$	-	$	7,692


Consolidation of off-balance sheet securitizations:
Loans receivable, net	$	-	$	-	$	27,752

Restricted cash and cash equivalents	$	-	$	-	$	3,396

Structured notes payable	$	-	$	-	$	19,524

Fair Values of Financial Instruments

12 Months Ended

Dec. 31, 2012

Fair Values of Financial Instruments [Abstract]

Fair Values of Financial Instruments

Note 16. Fair Values of Financial Instruments:

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


	Carrying Value at				Provision for
	December 31,				Loan Losses (2)
	2012		2011		2012		2011
	(In thousands)
Impaired loans (1)	$	11,637	$	7,694	$	1,163	$	438

(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 REO, our carrying value approximates the estimated fair value at the time of foreclosure and the lower of cost or market thereafter. We used Level 3 inputs to determine the estimated fair value of our REO. The carrying value of our REO 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 of the collateral, tax assessed value and market environment.

The following is activity for our REO:


	Years Ended
	December 31,
	2012		2011
	(In thousands)
Value - beginning of year	$	1,259	$	3,477
Foreclosures		1,481		409
Additions		-		17
Cost of sales		(1,660)		(1,757)
Impairment losses		(341)		(887)

Value - end of year	$	739	$	1,259

The estimated fair value of our financial instruments was as follows:


	December 31,
	2012				2011
			Estimated				Estimated
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Level
	(In thousands)
Assets:
Loans Receivable Subject To Credit Risk	$	200,642	$	181,112	$	203,951	$	190,255	3
SBA 7(a) loans receivable, subject to secured borrowings		38,349		43,096		30,476		34,140	3

Liabilities:
Structured notes and SBIC debentures payable		17,190		18,027		18,445		19,027	3
Secured borrowings - government guaranteed loans		41,008		41,008		32,546		32,546	3
Revolving credit facility		11,900		11,900		17,800		17,800	3
Junior Subordinated Notes		27,070		22,592		27,070		22,595	3

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 Subject To Credit Risk: 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.

SBA 7(a) loans receivable, 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 – see below). There is no credit risk associated with these loans since the SBA has guaranteed payment of the principal. 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 and prepayment tendencies.

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

Secured borrowings – government guaranteed loans: The estimated fair value approximates cost as the interest rate on these secured borrowings approximates current market interest rates. Includes the unamortized deferred cash premiums collected on the sale of the government guaranteed portions of the loans.

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
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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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 6: http://www.xbrl.org/2003/role/presentationRef
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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)
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-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
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-Name Statement of Financial Accounting Standard (FAS)
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-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

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies [Abstract]

Commitments and Contingencies

Note 17. 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 new loans were approximately $19.5 million at December 31, 2012, the majority of which were for prime-based loans to be originated under the SBA 7(a) Program, 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 under this lease are as follows:


Years Ending December 31,	Total
	(In thousands)
2013	$	212
2014		217
2015		36

	$	465

Rent expense amounted to $187,000, $179,000 and $168,000 during 2012, 2011 and 2010, respectively.

Employment Agreements

We have employment agreements with our two executive officers for three-year terms expiring December 31, 2015. 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 compensation 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.

SBA Related

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 our SBLC, 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.

In certain instances, including liquidation or charge-off of an SBA guaranteed loan, we may have a receivable for the SBA’s guaranteed portion of legal fees, operating expenses, property taxes paid, etc. related to the loan or the collateral (upon foreclosure). While we believe expenses incurred were justified and necessary for the care and preservation of the collateral and within the established rules of the SBA, there can be no assurance that the SBA will reimburse us. In addition, reimbursement from the SBA is a time consuming and lengthy process and the SBA may seek compensation from us related to reimbursement of expenses which it does not believe were necessary for the care and preservation of the loan or its collateral. Although the SBA has never declined to reimburse us for its portion of material expenses, no assurance can be given that the SBA would not do so in the future. We have evaluated our SBA receivables and believe that our financial statements fairly reflect these receivables at their appropriate net realizable value.

Pursuant to SBA rules and regulations, distributions from our SBLC and SBICs are limited. In order to operate as a small business lending company, a licensee is required to maintain a minimum net worth (as defined by SBA regulations) of the greater of (1) 10% of the outstanding loans receivable of our SBLC or (2) $1.0 million, as well as certain other regulatory restrictions such as change in control provisions. At December 31, 2012, dividends of $2.0 million were available for distribution from our SBLC.

- 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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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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-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
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-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
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-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

Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2012

Mortgage Loans on Real Estate [Line Items]

MORTGAGE LOANS ON REAL ESTATE

SCHEDULE IV

PMC COMMERCIAL TRUST AND SUBSIDIARIES

MORTGAGE LOANS ON REAL ESTATE

AS OF DECEMBER 31, 2012

(In thousands, except footnotes)


Balance at December 31, 2009		$	196,642

Additions during period:
New mortgage loans (1)	69,701

Other - deferral for collection of commitment fees, net of costs	324

Other - accretion of loan fees and discounts	317		70,343


Deductions during period:
Collections of principal (2)	(20,999)

Foreclosures	(4,040)

Cost of mortgages sold, net	(7,903)

Other - consolidation of loan loss reserves	(184)

Other - bad debt expense, net of recoveries	(641)		(33,767)


Balance at December 31, 2010		$	233,218

Additions during period:
New mortgage loans (3)	39,524

Other - deferral for collection of commitment fees, net of costs	410

Other - accretion of loan fees and discounts	17		39,951


Deductions during period:
Collections of principal	(21,473)

Foreclosures	(409)

Cost of mortgages sold, net	(16,400)

Other - bad debt expense, net of recoveries	(460)		(38,742)


Balance at December 31, 2011		$	234,427

Additions during period:
New mortgage loans (4)	55,387

Other - deferral for collection of commitment fees, net of costs	421

Other - accretion of loan fees and discounts	204		56,012


Deductions during period:
Collections of principal	(28,562)

Foreclosures	(1,481)

Cost of mortgages sold, net	(19,471)

Other - bad debt expense, net of recoveries	(1,934)		(51,448)


Balance at December 31, 2012		$	238,991

Footnotes:

(1) Includes $22,912,000 and $5,024,000 from consolidation of the 2000 Joint Venture and the 1998 Partnership, respectively, due to a change in accounting rules effective January 1, 2010 and two loans totaling $3,325,000 which were originated in connection with sales of real estate owned which did not require cash expenditures.

(2) Includes $7,692,000 representing reclassifications reducing secured borrowings and loans receivable.

(3) Includes a loan of $1,172,000 which was originated in connection with the sale of real estate owned which did not require cash expenditure.

(4) Includes a loan of $1,225,000 which was originated in connection with the sale of real estate owned which did not require cash expenditure.

Conventional Loans [Member]

Mortgage Loans on Real Estate [Line Items]

MORTGAGE LOANS ON REAL ESTATE

PMC COMMERCIAL TRUST AND SUBSIDIARIES

MORTGAGE LOANS ON REAL ESTATE

AS OF DECEMBER 31, 2012

(Dollars in thousands, except footnotes)

Conventional Loans - States 2% or greater (1):


Geographic Dispersion of	Number of		Size of Loans				Interest Rate		Final Maturity	Carrying Amount of			Principal amount of loan subject to delinquent principal
Collateral	Loans		From		To		Variable *(2)*	Fixed	Date	Mortgages *(3)*			or “interest”

Texas (4)		24		$0		$3,000	3.11% to 7.25%	-	1/21/15--8/16/31	$	25,246		$	-
Texas		14		$0		$2,000	-	8.00% to 10.78%	11/15/13--11/18/30		7,441			-
Virginia (5)		7		$0		$6,000	3.36% to 7.50%	-	1/30/23--12/17/32		17,500			-
Virginia (6)		2		$0		$1,000	-	7.50% to 8.50%	6/1/17--8/21/27		1,764			-
Arizona		6		$0		$5,000	3.36% to 7.50%	-	2/10/23--9/14/31		11,353			-
Arizona		6		$0		$3,000	-	7.50% to 10.00%	7/16/13--3/28/32		6,317			-
Ohio		6		$0		$3,000	3.36% to 4.36%	-	10/27/25--4/21/28		11,278			-
North Carolina		4		$0		$2,000	3.86% to 4.86%	-	6/11/21--5/5/23		3,892			-
North Carolina		4		$0		$3,000	-	7.50% to 9.85%	12/20/16--5/22/32		5,218			-
Alabama		4		$0		$3,000	3.75% to 4.61%	-	11/21/20--10/01/26		6,825			-
Alabama		2		$0		$1,000	-	9.50%	6/15/18--10/27/18		1,034			-
Florida		3		$0		$3,000	3.49% to 4.11%	-	11/1/25--10/1/26		4,227			-
Florida		2		$0		$3,000	-	7.50% to 8.24%	1/1/24--2/5/33		3,510			-
Michigan		6		$0		$2,000	3.24% to 7.25%	-	2/10/26--8/23/30		7,235			-
Oregon		2		$0		$4,000	4.61% to 7.25%	-	9/8/25--5/13/30		5,204			-
Oregon		3		$0		$1,000	-	9.00% to 9.90%	2/2/18--6/13/21		1,775			-
Pennsylvania		2		$0		$4,000	4.36% to 7.00%	-	9/29/25--8/1/32		4,384			-
Pennsylvania		1		$0		$3,000	-	10.25%	6/22/20		2,270			-
Indiana		5		$0		$2,000	3.86% to 8.25%	-	12/4/22--2/26/32		5,950			-
California		4		$0		$2,000	4.11% to 4.75%	-	3/21/22--12/13/26		4,384			-
California		2		$0		$1,000	-	8.90% to 9.00%	7/10/18--12/28/24		977			-
Georgia		3		$0		$2,000	3.86% to 4.61%	-	12/26/17--12/14/27		2,236			-
Georgia		3		$0		$2,000	-	8.75% to 10.25%	3/24/19--12/1/29		2,459			-
Iowa		3		$0		$3,000	4.36% to 6.95%	-	9/30/19--5/30/26		3,928			-
Mississippi		1		$0		$3,000	7.25%	-	12/1/32		2,423			-
Mississippi		2		$0		$1,000	-	8.00% to 9.50%	6/12/18--12/26/22		1,103			-
Other (7)		15		$0		$2,000	2.86% to 7.00%	-	6/27/16--11/24/27		16,355			3,203
Other		12		$0		$2,000	-	7.75% to 12.00%	8/20/14--12/22/30		7,848			-


		148									$ 174,136	(8)		$ 3,203

Footnotes:

(1)

There are three loans which are secured by second liens on properties which are subordinated to our first liens on the respective properties.

(2)

Certain loans at variable interest rates have interest rate floors which may be in effect.

(3)

Excludes general reserves of $1,468,000.

(4)

Includes two loans with a face value of $3,162,000 and valuation reserves of $403,000.

(5)

Includes a loan with a face value of $3,122,000 and a valuation reserve of $144,000.

(6)

Include a loan with a face value of $1,045,000 and a valuation reserve of $21,000.

(7)

Includes two loans with a face value of $3,203,000 and a valuation reserve of $814,000.

(8)

For Federal income tax purposes, the cost basis of our mortgage loans on real estate was approximately $176,457,000 (unaudited).

SBA 7(a) loans [Member]

Mortgage Loans on Real Estate [Line Items]

MORTGAGE LOANS ON REAL ESTATE

SCHEDULE IV

PMC COMMERCIAL TRUST AND SUBSIDIARIES

MORTGAGE LOANS ON REAL ESTATE

AS OF DECEMBER 31, 2012

(Dollars in thousands, except footnotes)

SBA 7(a) Loans - States 2% or greater (1):


Geographic Dispersion of	Number of							Final Maturity	Carrying Amount of			Principal amount of loans subject to delinquent principal
Geographic Dispersion of	Number of		Size of Loans					Final Maturity	Carrying Amount of
Collateral	Loans		From		To		Interest Rate *(2)*	Date	Mortgages *(3)*			or “interest”

Texas (4)		35		$0		$500	4.13% to 6.00%	4/26/14--10/18/37	$	3,462		$	-
Michigan		18		$0		$500	5.25% to 6.00%	2/16/13--6/27/37		2,464			-
North Carolina		7		$0		$500	5.75% to 6.00%	9/8/32--10/25/37		2,117			-
Ohio		14		$0		$500	4.25% to 6.00%	5/11/13--11/4/37		1,719			-
Indiana		9		$0		$500	4.75% to 6.00%	11/19/19--8/30/37		1,493			-
Virginia		6		$0		$500	6.00%	12/13/27--10/15/37		1,375			-
Wisconsin (5)		7		$0		$500	5.00% to 6.00%	4/23/20--11/14/37		1,248			-
Illinois		5		$0		$500	5.75% to 6.00%	3/26/19--9/18/37		1,196			-
Kentucky		5		$0		$500	6.00%	4/9/35--12/28/37		1,154			-
Alabama		4		$0		$500	5.00% to 6.00%	7/27/25--8/25/36		1,035			-
Mississippi		3		$0		$500	5.75% to 6.00%	5/18/35--11/4/36		1,019			-
Florida		8		$0		$500	5.75% to 6.00%	6/12/16--12/29/36		1,007			-
Georgia		6		$0		$500	5.13% to 6.00%	5/23/20--6/25/35		855			-
Iowa		3		$0		$500	5.75% to 6.00%	12/22/35--10/17/37		769			-
Connecticut		2		$0		$1,000	5.13% to 5.63%	12/5/14--11/30/36		703			-
Arizona		5		$0		$500	5.75% to 6.00%	10/28/19--4/28/36		650			-
Oklahoma		6		$0		$500	4.75% to 6.00%	9/9/24--11/10/35		621			-
Missouri		5		$0		$500	5.25% to 6.00%	4/16/18--9/12/37		613			-
Kansas		3		$0		$500	6.00%	10/29/32--5/4/36		580			-
Other		33		$0		$500	5.00% to 6.00%	1/31/15--9/13/37		2,295			-
Government guaranteed portions (6)										2,449			-
SBA 7(a) loans, subject to secured borrowings (7)										37,909			-


		184							$	66,733	(8)	$	-

Footnotes:

(1)

Includes approximately $547,000 of loans not secured by real estate. Also includes $324,000 of loans with subordinate lien positions.

(2)

Interest rates are variable at spreads over the prime rate unless otherwise noted.

(3)

Excludes general reserves of $410,000.

(4)

Includes a loan with a face value of $100,000, a valuation reserve of $23,000 and a fixed interest rate of 6.00%.

(5)

Includes a loan with a face value of $846,000 and a valuation reserve of $130,000.

(6)

Represents the government guaranteed portions of our SBA 7(a) loans detailed above. As there is no risk of loss to us related to these portions of the guaranteed loans, the geographic information is not presented as it is not meaningful.

(7)

Represents the guaranteed portion of loans which were sold with the proceeds received from the sale reflected as secured borrowings.

(8)

For Federal income tax purposes, the cost basis of our loans was approximately $27,526,000 (unaudited).

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2012
Summary of Significant Accounting Policies [Abstract]
Business	*Business* PMC Commercial Trust (“PMC Commercial” or together with its wholly-owned subsidiaries, “we,” “us” or “our”) was organized in 1993 as a Texas real estate investment trust (“REIT”). Our common shares of beneficial interest (“Common Shares”) are traded on the NYSE MKT (symbol “PCC”). We primarily obtain income from the yield and other related fee income earned on our investments from our lending activities. To date, these investments have principally been in the hospitality industry.
Principles of Consolidation	*Principles of Consolidation* The accompanying consolidated financial statements have been prepared by management in accordance with U.S. generally accepted accounting principles (“GAAP”). We consolidate entities that we control as well as variable interest entities (“VIEs”) for which we are the primary beneficiary. A VIE is an entity for which control is achieved through means other than voting rights. An entity should consolidate a VIE if that entity will absorb a majority of the VIE’s expected losses, receive a majority of the VIE’s expected residual returns, or both. To the extent we do not have a majority voting interest, we use the equity method to account for investments for which we have the ability to exercise significant influence over operating and financial policies. Consolidated net income includes our share of the net earnings of any VIE for which we are not the primary beneficiary. All material intercompany balances and transactions have been eliminated. During 2005, PMC Commercial issued notes payable (the “Junior Subordinated Notes”) of approximately $27,070,000 due March 30, 2035 to a special purpose subsidiary deemed to be a VIE and recorded our investment in the VIE of $820,000. As a result, our exposure related to the Junior Subordinated Notes is $26,250,000. The Junior Subordinated Notes, included in our consolidated balance sheets, are subordinated to PMC Commercial’s existing debt. Since PMC Commercial is not considered to be the primary beneficiary, the VIE is not consolidated in PMC Commercial’s financial statements and the equity method is used to account for our investment in the VIE.
Recently Issued Accounting Pronouncements	*Recently Issued Accounting Pronouncements* Accounting Standards Concept (“ASC”) topic 310 Update 2011-02 (“ASC 2011-02”) was issued in April 2011. ASC 2011-02 clarified guidance for loans which have been restructured, on a creditor’s evaluation of whether (1) it has granted a concession and (2) a debtor is experiencing financial difficulties. ASC 2011-02 was effective for the first interim or annual period beginning on or after June 15, 2011, and has been applied retrospectively to the beginning of the annual period of adoption. As a result of adopting the amendments in ASC 2011-02, we reassessed all restructurings that occurred on or after January 1, 2011 for identification as troubled debt restructurings. We identified as troubled debt restructurings certain loans receivable for which the loan loss reserves had previously been measured under a general loan loss methodology. Upon identifying these loans receivable as troubled debt restructurings we identified them as impaired under the guidance in Section 310-10-35. The amendments of ASC 2011-02 required prospective application of the impairment measurement guidance in Section 310-10-35 for those loans receivable newly identified as impaired. ASC topic 820 Update 2011-04 (“ASC 2011-04”); Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP, was issued in May 2011. This ASU provided additional guidance on fair value measurements and required 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 after December 15, 2011. As a result of adopting the amendments in ASC 2011-04, we provided additional fair value disclosure as considered necessary.
Loans Receivable, net	*Loans Receivable, net* We primarily originate loans to small businesses collateralized by first liens on the real estate of the related business. Loans receivable are carried at their unamortized principal balance less net loan origination fees, discounts and loan loss reserves. For loans originated under the Small Business Administration’s (“SBA”) 7(a) Guaranteed Loan Program (“SBA 7(a) Program”) upon sale of the SBA guaranteed portion of the loans which are accounted for as sales, the unguaranteed portion of the loan retained by us is valued on a fair value basis and a discount (the “Retained Loan Discount”) is recorded as a reduction in basis of the retained portion of the loan. 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 principal and/or interest, 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 values 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 due to the current economic environment. 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 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 relating primarily to the hospitality industry, our historical experience with similar borrowers and/or individual borrower or collateral characteristics, and in certain circumstances, the 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.
Real Estate Owned ("REO")	*Real Estate Owned (“REO”)* REO consists of properties acquired by foreclosure in partial or total satisfaction of non-performing loans. REO acquired in satisfaction of a loan is recorded at estimated fair value less estimated costs to sell the property at the date of foreclosure. Any excess of the carrying value of the loan over the estimated fair value of the property less estimated costs to sell is charged-off to the loan loss reserve when title to the property is obtained. Any excess of the estimated fair value of the property less estimated costs to sell and the carrying value of the loan is recorded as gain on foreclosure within discontinued operations when title to the property is obtained. Subsequent to foreclosure, REO is valued at the lower of cost or market. Any impairment losses and operating costs subsequent to foreclosure are recorded within discontinued operations.
Cash and Cash Equivalents	*Cash and Cash Equivalents* We generally consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Generally, we maintain cash and cash equivalents in accounts in excess of federally insured limits with a financial institution. We regularly monitor the financial institution and do not believe a significant credit risk is associated with the deposits in excess of federally insured amounts.
Restricted Cash and Cash Equivalents	*Restricted Cash and Cash Equivalents* Represented the collection and cash reserve accounts required to be held on behalf of the structured noteholders as collateral pursuant to the securitization transaction documents. Cash reserve accounts were required to be used to repay the structured noteholders pursuant to the transaction documents.
Deferred Borrowing Costs	*Deferred Borrowing Costs* Costs incurred in connection with the issuance of debt are capitalized and are being amortized to expense over the life of the related obligation using the effective interest method. Deferred borrowing costs are included in other assets on our consolidated balance sheets.
Borrower Advances	*Borrower Advances* In general, as part of the monitoring process to verify that the borrowers’ cash equity is utilized for its intended purpose, we receive deposits from our borrowers and release funds upon presentation of appropriate documentation. Funds held on behalf of borrowers are included as a liability on the consolidated balance sheets.
Revenue Recognition Policies	*Revenue Recognition Policies* Interest Income Interest income includes interest earned on loans and our short-term investments and the amortization of net loan origination fees and discounts. Interest income on loans is accrued as earned with the accrual of interest suspended when the related loan becomes a non-accrual loan. A loan receivable is generally classified as non-accrual (a “Non-Accrual Loan”) if (1) it is past due as to payment of principal or interest for a period of 60 days or more, (2) any portion of the loan is classified as doubtful or is charged-off or (3) if the repayment in full of the principal and/or interest is in doubt. Generally, loans are charged-off when management determines that we will be unable to collect any remaining amounts due under the loan agreement, either through liquidation of collateral or other means. Interest income on a Non-Accrual Loan is recognized on either the cash basis or the cost recovery basis. Origination fees and direct loan origination costs, net, are deferred and recognized as an adjustment of yield over the life of the related loan receivable using the effective interest method. Direct origination costs include broker fees paid, if any, and capitalization of allocated payroll costs in originating the loan. For loans recorded with a Retained Loan Discount, these discounts are recognized as an adjustment of yield over the life of the related loan receivable using the effective interest method. Premium Income We sell the government guaranteed portion of our SBA 7(a) Program loans to investors. These government guaranteed portions may be sold for (1) a cash premium and the minimum 1% SBA required servicing spread, (2) future servicing spread greater than 1% and no cash premium or (3) future servicing spread greater than 1% and a 10% cash premium. The government guaranteed portion of loans sold for a cash premium and the minimum 1% SBA required servicing spread are recorded as sales (i.e., we record premium income). Premium income represents the difference between the relative fair value attributable to the sale of the government guaranteed portion of a loan originated under the SBA 7(a) Program for a cash premium and the SBA required 1% servicing spread and the principal balance (cost) allocated to the loan. We are required to permanently treat certain of the proceeds received from legally sold portions of loans (those loans sold solely for excess spread and those sold for a cash premium and excess spread) as secured borrowings (a liability on our consolidated balance sheet) for the life of the loan. To the extent secured borrowings include cash premiums, these premiums are amortized as a reduction to interest expense over the life of the loan using the effective interest method and any remaining balance is fully amortized when the loan is repaid in full. Other Income Other income consists primarily of servicing income, prepayment fees, income from retained interests in transferred assets and other loan related income. Servicing income represents the fees we receive for servicing the sold portion of our SBA 7(a) Program loans and is recognized as revenue when the services are performed. Historically, we also recorded servicing income for fees received for servicing loans of our off-balance sheet securitizations. Prepayment fees are recognized as revenue when loans are prepaid and the fee is received. Income from retained interests in transferred assets represents the accretion (recognized using the effective interest method) on our retained interests which is determined based on estimates of future cash flows. Other loan related fees, including late fees, are recognized as revenue when chargeable, assuming collectibility is reasonably assured.
Income Taxes	*Income Taxes* We have elected to be taxed as a REIT under the provisions of the Internal Revenue Code of 1986, as amended (the “Code”). To the extent we qualify for taxation as a REIT, we generally will not be subject to a Federal corporate income tax on our taxable income that is distributed to our shareholders. We may, however, be subject to certain Federal excise taxes and state and local taxes on our income and property. If PMC Commercial fails to qualify as a REIT in any taxable year, it will be subject to Federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and will not be able to qualify as a REIT for four subsequent taxable years. In order to remain qualified as a REIT under the Code, we must satisfy various requirements in each taxable year, including, among others, limitations on share ownership, asset diversification, sources of income, and the distribution of at least 90% of our taxable income within the specified time in accordance with the Code. PMC Commercial has wholly-owned taxable REIT subsidiaries (“TRS’s”) which are subject to Federal income taxes. The income generated from the taxable REIT subsidiaries is taxed at normal corporate rates. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. We have established a policy on classification of penalties and interest related to audits of our Federal and state income tax returns. If incurred, our policy for recording interest and penalties associated with audits will be to record such items as a component of income before income tax benefit (provision) and discontinued operations. Penalties, if incurred, will be recorded in general and administrative expense and interest paid or received will be recorded in interest expense or interest income, respectively, in the consolidated statements of income (loss).
Earnings (Loss) per Share ("EPS")	*Earnings (Loss) per Share (“EPS”)* EPS is computed by dividing net income (loss) by the weighted-average number of shares outstanding. Diluted EPS includes the dilutive effect, if any, of share-based compensation awards.
Distributions to Shareholders	*Distributions to Shareholders* Distributions to shareholders are recorded on the ex-dividend date.
Share-Based Compensation Plans	*Share-Based Compensation Plans* We have options outstanding and issue restricted shares under share-based compensation plans described more fully in Note 14. We use fair value recognition provisions to account for all awards granted, modified or settled.
Use of Estimates	*Use of Estimates* The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from our estimates. Our most sensitive estimates involve determination of loan loss reserves and valuation of our real estate owned.

Loans Receivable, net (Tables)

12 Months Ended

Dec. 31, 2012

Loans Receivable, net [Abstract]

Loans receivables, net

Loans receivable, net, consisted of the following:


	December 31,
	2012		2011
	(In thousands)
Commercial mortgage loans	$	128,401	$	134,835
SBIC commercial mortgage loans		47,621		32,416
SBA 7(a) loans, subject to secured borrowings		37,909		30,151
SBA 7(a) loans		28,196		23,238
Commercial mortgage loans, subject to structured notes payable (1)		-		15,474

Total loans receivable		242,127		236,114
Add/(deduct):
Deferred capitalized costs, net		277		125
Loan loss reserves		(3,413)		(1,812)

Loans receivable, net	$	238,991	$	234,427

(1)

We repaid the remaining 2003 Joint Venture structured notes on February 15, 2012.

Aging of loans Receivable


December 31, 2012
Category	Totals			Commercial Mortgage Loans			SBA 7(a) Loans
	(Dollars in thousands)
Current (1)	$	198,282	97.1%	$	170,429	96.8%	$	27,853	98.8%
Between 30 and 59 days delinquent (2)		2,824	1.4%		2,482	1.4%		342	1.2%
Between 60 and 89 days delinquent		1	-		-	-		1	-
Over 89 days delinquent (3)		3,111	1.5%		3,111	1.8%		-	-

	$	204,218	100.0%	$	176,022	100.0%	$	28,196	100.0%

(1)

Includes $7.6 million of commercial mortgage loans classified as troubled debt restructurings which are current at December 31, 2012 based on revised note terms.

(2)

(3)

Loans are classified as troubled debt restructurings. We are currently in the process of foreclosing on the collateral underlying these loans – two limited service hospitality properties.


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 were current based on revised note terms. Of these loans, $5.6 million were paying interest only.

(2)

Includes a $1.4 million loan on which the borrowers filed for Chapter 11 Bankruptcy. We were classified as a secured creditor in the bankruptcy proceedings.

Classified loans receivable

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 commitment fees):


	December 31, 2012
	Totals		%		Commercial Mortgage Loans		%		SBA 7(a) Loans		%
	(Dollars in thousands)
Satisfactory	$	187,749		92.0%	$	159,994		90.9%	$	27,755		98.5%
OAEM		81		-		-		-		81		0.3%
Substandard		13,043		6.4%		12,917		7.3%		126		0.4%
Doubtful		3,345		1.6%		3,111		1.8%		234		0.8%

	$	204,218		100.0%	$	176,022		100.0%	$	28,196		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		96.6%
OAEM		3,354		1.6%		3,317		1.8%		37		0.1%
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

The activity in our loan loss reserves was as follows:


	Year Ended December 31, 2012
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,812	$	1,329	$	483
Provision for loan losses		2,505		2,219		286
Reduction of loan losses		(104)		(70)		(34)
Recoveries		(467)		(467)		-
Principal balances written-off, net		(333)		(161)		(172)

Balance, end of year	$	3,413	$	2,850	$	563


	Year Ended December 31, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,609	$	1,303	$	306
Provision for loan losses		826		429		397
Reduction of loan losses		(366)		(342)		(24)
Principal balances written-off		(257)		(61)		(196)

Balance, end of year	$	1,812	$	1,329	$	483


	Year Ended December 31, 2010
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Balance, beginning of year	$	1,257	$	1,055	$	202
Provision for loan losses		1,019		607		412
Reduction of loan losses		(378)		(309)		(69)
Consolidation of the 2000 Joint Venture and the 1998 Partnership reserves		184		184		-
Principal balances written-off		(473)		(234)		(239)

Balance, end of year	$	1,609	$	1,303	$	306

Loans considered to be impaired loans

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


	At December 31, 2012
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Impaired loans requiring reserves (1)	$	10,927	$	10,049	$	878
Impaired loans expected to be fully recoverable (1)		2,244		2,123		121

Total impaired loans (2)	$	13,171	$	12,172	$	999


Loan loss reserves	$	1,535	$	1,382	$	153


	At December 31, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Impaired loans requiring reserves (1)	$	7,411	$	7,027	$	384
Impaired loans expected to be fully recoverable (1)		846		689		157

Total impaired loans (3)	$	8,257	$	7,716	$	541


Loan loss reserves	$	563	$	372	$	191


	At December 31, 2010
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Impaired loans requiring reserves (1)	$	687	$	419	$	268
Impaired loans expected to be fully recoverable (1)		228		228		-

Total impaired loans (4)	$	915	$	647	$	268


Loan loss reserves	$	219	$	25	$	194

(1)

Balances represent our recorded investment. For 2012 and 2011, includes loans classified as troubled debt restructurings.

(2)

(3)

(4)


	Year Ended December 31, 2012
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	9,895	$	9,116	$	779


Interest income on impaired loans	$	372	$	359	$	13


	Year Ended December 31, 2011
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	8,176	$	7,610	$	566


Interest income on impaired loans	$	290	$	271	$	19


	Year Ended December 31, 2010
	Total		Commercial Mortgage Loans		SBA 7(a) Loans
	(In thousands)
Average impaired loans	$	4,317	$	3,558	$	759


Interest income on impaired loans	$	114	$	89	$	25

Troubled Debt Restructurings

Information on our troubled debt restructurings was as follows at December 31, 2012 and 2011:


	December 31, 2012
	Commercial Mortgage Loans				SBA 7(a) Loan
	Recorded Investment		Unpaid Principal Balance		Recorded Investment		Unpaid Principal Balance
	(In thousands)
Troubled debt restructurings requiring reserves (1)	$	10,049	$	10,531	$	854	$	846
Troubled debt restructurings without reserves		2,123		2,172		-		-

Total troubled debt restructurings	$	12,172	$	12,703	$	854	$	846


Number of loans		8				1


Loan loss reserves	$	1,382			$	130

(1)


	December 31, 2011
	Commercial Mortgage Loans
	Recorded Investment		Unpaid Principal Balance
	(In thousands)
Troubled debt restructurings requiring reserves	$	5,591	$	5,730
Troubled debt restructurings without reserves		689		749

Total troubled debt restructurings	$	6,280	$	6,479


Number of loans		4


Loan loss reserves	$	236

Other Assets (Tables)

12 Months Ended

Dec. 31, 2012

Other Assets [Abstract]

Other Asset

Other assets consisted of the following:


	December 31,
	2012			2011
	(In thousands)
Deferred tax asset, net		$	1,626	$	1,409
Servicing asset, net			1,261		979
Deferred borrowing costs, net			1,218		1,128
Investment in VIE			820		820
Retained interests in transferred assets			773		996
Interest receivable			620		710
Prepaid expenses and deposits			330		303
Other			99		481

		$	6,747	$	6,826

Debt (Tables)

12 Months Ended

Dec. 31, 2012

Debt [Abstract]

Summary of Debt

Information on our debt was as follows:


	Carrying Value at December 31, (1)				Weighted Average Coupon Rate at December 31,
	2012		2011		2012		2011
	(Dollars in thousands, except footnotes)

Secured borrowings - government guaranteed loans:
Loans sold for a premium and excess spread - principal	$	32,062	$	24,174		4.09%		4.15%
Loans sold for a premium and excess spread - deferred premiums		3,099		2,395		-		-
Loans sold for excess spread		5,847		5,977		1.58%		1.58%

		41,008		32,546

Junior subordinated notes		27,070		27,070		3.61%		3.62%
Debentures payable		17,190		13,181		4.47%		4.99%
Revolving credit facility (2)		11,900		17,800		2.30%		2.47%
Structured notes payable (3)		-		5,264		NA		3.08%

Debt	$	97,168	$	95,861

(1)

The face amount of debt as of December 31, 2012 and 2011 was $97,168,000 and $95,870,000, respectively.

(2)

(3)

We repaid the structured notes on February 15, 2012.

Principal payments on, and estimated amortization on debt


	Secured Borrowings
Years Ending December 31,	Total		Principal (1)		Deferred Premiums (2)		All Other Debt (3)
	(In thousands)
2013	$	6,122	$	1,717	$	215	$	4,190
2014		13,173		1,121		152		11,900
2015		5,312		1,160		152		4,000
2016		1,353		1,201		152		-
2017		1,397		1,245		152		-
Thereafter		69,811		31,465		2,276		36,070

	$	97,168	$	37,909	$	3,099	$	56,160

(1)

(2)

(3)

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

Dividends Paid and Declared (Tables)

12 Months Ended

Dec. 31, 2012

Cumulative Preferred Stock of Subsidiary/Dividends Paid and Declared [Abstract]

Summary of Dividends Declared

During 2012, our dividends were declared as follows:


Record Date	Date Paid	Amount Per Share
March 30, 2012	April 9, 2012	$	0.16
June 29, 2012	July 9, 2012		0.16
September 28, 2012	October 9, 2012		0.16
December 31, 2012	January 7, 2013		0.12

		$	0.60

Other Income (Tables)

12 Months Ended

Dec. 31, 2012

Other Income [Abstract]

Summary of Other Income

Other income consisted of the following:


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Servicing income	$	499	$	399	$	344
Prepayment fees		279		118		378
Loan related income		221		196		226
Retained interests in transferred assets		189		215		163
Other		92		127		106

	$	1,280	$	1,055	$	1,217

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Summary of reconciliation of net income to REIT taxable income

The following reconciles net income (loss) to REIT taxable income (loss):


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Net income (loss)	$	(2,179)	$	3,647	$	4,297
Book/tax differences:
Gains related to real estate		-		(235)		387
Strategic alternatives		(678)		678		-
Impairment losses		300		804		317
Severance accrual (payments)		1,777		(100)		(33)
Amortization and accretion		(188)		(68)		(102)
Loan valuation		1,403		184		(241)
Other, net		157		8		(174)

Subtotal		592		4,918		4,451

Adjustment for TRS net loss (income), net of tax		(840)		(131)		340
Dividend distribution from TRS		-		1,000		300

REIT taxable income (loss)	$	(248)	$	5,787	$	5,091


Distributions declared	$	6,353	$	6,767	$	6,757


Basic weighted average common shares outstanding		10,585		10,570		10,554

Dividends per share

Dividends per share for dividend reporting purposes were as follows:


	Years Ended December 31,
	2012				2011				2010
	Amount Per Share		Percent		Amount Per Share		Percent		Amount Per Share		Percent
Non-qualified dividends	$	-		-	$	0.477		74.53%	$	0.568		88.75%
Qualified dividends		-		-		0.095		14.78%		0.028		4.37%
Non-taxable return of capital		0.600		100.00%		0.068		10.69%		0.044		6.88%

	$	0.600		100.00%	$	0.640		100.00%	$	0.640		100.00%

Income tax provision (benefit)

Income tax provision (benefit) related to the TRS’s consisted of the following:


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Federal:
Current provision	$	821	$	483	$	514
Deferred benefit		(256)		(369)		(645)

Income tax provision (benefit)	$	565	$	114	$	(131)

Reconciliation of TRS income tax attributable to net income (loss)


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Income (loss) from continuing operations before income taxes for TRS’s	$	1,628	$	245	$	(471)

Expected Federal income tax provision (benefit)	$	553	$	83	$	(160)
Preferred dividend of subsidiary		31		31		31
Other adjustments		(19)		-		(2)

Income tax provision (benefit)	$	565	$	114	$	(131)

Components of net deferred tax asset

The components of our net deferred tax asset were as follows:


	December 31,
	2012		2011
	(In thousands)
Deferred tax assets:
Secured borrowings - government guaranteed loans	$	1,054	$	814
Retained interests in transferred assets		387		364
Servicing asset		268		225
Net operating losses		25		25
Other		69		38

Total gross deferred tax assets		1,803		1,466


Deferred tax liabilities:
Loans receivable		177		56
Discount on debentures payable		-		1

Total gross deferred tax liabilities		177		57


Deferred tax asset, net	$	1,626	$	1,409

Discontinued Operations, Net of Tax (Tables)

12 Months Ended

Dec. 31, 2012

Discontinued Operations, Net of Tax [Abstract]

Discontinued Operations, Net of Tax

Our discontinued operations consisted of the following:


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Net gains (losses) on sales of real estate	$	(15)	$	532	$	78
Net operating losses		(582)		(690)		(298)
Impairment losses		(341)		(887)		(325)
Income tax benefit		115		-		-

Discontinued operations, net of tax	$	(823)	$	(1,045)	$	(545)

- 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

Share-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2012

Share-Based Compensation Plans [Abstract]

Summary of stock options granted under the plan


	2012				2011				2010
	Number of		Weighted		Number of		Weighted		Number of		Weighted
	Shares		Average		Shares		Average		Shares		Average
	Underlying		Exercise		Underlying		Exercise		Underlying		Exercise
	Options		Prices		Options		Prices		Options		Prices
Outstanding, January 1		94,750		$9.09		90,750		$10.11		89,650		$11.77
Granted		30,000		$7.80		27,000		$8.75		26,500		$8.35
Exercised		-		-		-		-		(1,500)		$7.65
Expired		(12,250)		$14.01		(23,000)		$12.72		(23,900)		$14.54


Outstanding and exercisable, December 31		112,500		$8.21		94,750		$9.09		90,750		$10.11


Weighted-average fair value per share of stock options granted during the year		$0.40				$1.10				$1.24

Black-Scholes option-pricing model

The fair value of each share option granted is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:


	Years Ended December 31,
	2012		2011		2010
Assumption:
Expected Term (years)		3.0		3.0		3.0
Risk-Free Interest Rate		0.39%		0.71%		1.23%
Expected Dividend Yield		8.21%		7.31%		7.66%
Expected Volatility		21.12%		33.58%		40.29%
Forfeiture Rate		1.00%		2.00%		10.00%

Schedule of share based compensation arrangement by share based payment award options outstanding and exercisable

The following table summarizes information about share options outstanding at December 31, 2012:


	Options Outstanding and Exercisable
Range of Exercise Prices	Number Outstanding		Weighted Average Remaining Contract Life (in years)		Weighted Average Exercise Price
$7.65 to $7.80		44,000		3.25		$7.75
$8.35 to $8.75		68,500		2.62		$8.51

$7.65 to $8.75		112,500		2.87		$8.21

Summary of changes in outstanding RSUs and restricted stock

A summary of our restricted shares as of December 31, 2012, 2011 and 2010 and the changes during the years ended on those dates are as follows:


	2012				2011				2010
	Number of Shares		Weighted Average Grant Date Fair Value Per Share		Number of Shares		Weighted Average Grant Date Fair Value Per Share		Number of Shares		Weighted Average Grant Date Fair Value Per Share
Balance, January 1		11,031		$8.57		12,066		$8.35		17,416		$8.14
Granted		15,000		$7.45		15,000		$8.73		13,100		$8.35
Vested		(19,365)		$7.98		(16,035)		$8.55		(15,050)		$8.11
Forfeited		-		-		-		-		(3,400)		$8.35

Balance, December 31		6,666		$7.75		11,031		$8.57		12,066		$8.35

Supplemental Disclosure of Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2012

Supplemental Disclosure of Cash Flow Information [Abstract]

Non-cash activities

Our non-cash activities were as follows:


	Years Ended December 31,
	2012		2011		2010
	(In thousands)
Reclassification from loans receivable to real estate owned	$	1,481	$	409	$	4,040


Loans receivable originated to facilitate sales of real estate owned	$	1,225	$	1,172	$	3,325


Reclassifications reducing secured borrowings - government guaranteed loans and loans receivable, net	$	-	$	-	$	7,692


Consolidation of off-balance sheet securitizations:
Loans receivable, net	$	-	$	-	$	27,752

Restricted cash and cash equivalents	$	-	$	-	$	3,396

Structured notes payable	$	-	$	-	$	19,524

Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2012

Fair Values of Financial Instruments [Abstract]

Impaired loans measured at fair value on a nonrecurring basis


	Carrying Value at				Provision for
	December 31,				Loan Losses (2)
	2012		2011		2012		2011
	(In thousands)
Impaired loans (1)	$	11,637	$	7,694	$	1,163	$	438

(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

The following is activity for our REO:


	Years Ended
	December 31,
	2012		2011
	(In thousands)
Value - beginning of year	$	1,259	$	3,477
Foreclosures		1,481		409
Additions		-		17
Cost of sales		(1,660)		(1,757)
Impairment losses		(341)		(887)

Value - end of year	$	739	$	1,259

Estimated fair values of financial instruments

The estimated fair value of our financial instruments was as follows:


	December 31,
	2012				2011
			Estimated				Estimated
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Level
	(In thousands)
Assets:
Loans Receivable Subject To Credit Risk	$	200,642	$	181,112	$	203,951	$	190,255	3
SBA 7(a) loans receivable, subject to secured borrowings		38,349		43,096		30,476		34,140	3

Liabilities:
Structured notes and SBIC debentures payable		17,190		18,027		18,445		19,027	3
Secured borrowings - government guaranteed loans		41,008		41,008		32,546		32,546	3
Revolving credit facility		11,900		11,900		17,800		17,800	3
Junior Subordinated Notes		27,070		22,592		27,070		22,595	3

- 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)

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies [Abstract]

Future minimum lease payments

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


Years Ending December 31,	Total
	(In thousands)
2013	$	212
2014		217
2015		36

	$	465

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Summary of Significant Accounting Policies (Textual) [Abstract]
Recorded Investment	$ 820,000
Exposure related to the Junior Subordinated notes	26,250,000
Junior Subordinated Notes	$ 27,070,000	$ 27,070,000
Principal or interest for a period	60 days
Guaranteed portion of program loans sold to investors	(1) a cash premium and the minimum 1% required servicing spread, (2) future servicing spread greater than 1% and no cash premium or (3) future servicing spread greater than 1% and a 10% cash premium
Percentage of minimum servicing spread required	1.00%
Rate of cash premium	10.00%
Income distributable to shareholders, minimum	90.00%

Loans Receivable, net (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Loans receivable, net:
Total loans receivable	$ 242,127	$ 236,114
Add/(deduct):
Deferred capitalized costs, net	277	125
Loan loss reserves	(3,413)	(1,812)
Loans receivable, net	238,991	234,427
Commercial mortgage loans [Member]
Loans receivable, net:
Commercial mortgage loans	128,401	134,835
SBIC commercial mortgage loans [Member]
Loans receivable, net:
SBIC commercial mortgage loans	47,621	32,416
SBA 7(a) loans, subject to secured borrowings [Member]
Loans receivable, net:
SBA 7(a) loans, subject to secured borrowings	37,909	30,151
SBA 7(a) loans [Member]
Loans receivable, net:
SBA 7(a) loans	$ 28,196	23,238
Commercial mortgage loans, subject to structured notes payable (1) [Member]
Loans receivable, net:
Commercial mortgage loans, subject to structured notes payable		$ 15,474

Loans Receivable, net (Details 1) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Aging of loans Receivable
Current	$ 198,282	$ 202,217
Between 30 and 59 days delinquent	2,824	1,224
Between 60 and 89 days delinquent	1	696
Over 89 days delinquent	3,111	1,826
Loans receivable, gross, excluding secured borrowings	$ 204,218	$ 205,963
Current	97.10%	98.20%
Between 30 and 59 days delinquent	1.40%	0.60%
Between 60 and 89 days delinquent		0.30%
Over 89 days delinquent	1.50%	0.90%
Aging of loans receivable percent	100.00%	100.00%
Commercial Mortgage Loans [Member]
Aging of loans Receivable
Current	$ 170,429	$ 179,497
Between 30 and 59 days delinquent	2,482	1,090
Between 60 and 89 days delinquent		696
Over 89 days delinquent	3,111	1,442
Loans receivable, gross, commercial mortgage loans	$ 176,022	$ 182,725
Current	96.80%	98.20%
Between 30 and 59 days delinquent	1.40%	0.60%
Between 60 and 89 days delinquent		0.40%
Over 89 days delinquent	1.80%	0.80%
Aging of loans receivable percent	100.00%	100.00%
SBA 7(a) Loans [Member]
Aging of loans Receivable
Current	$ 27,853	$ 22,720
Between 30 and 59 days delinquent	342	134
Between 60 and 89 days delinquent	1
Over 89 days delinquent		384
SBA 7(a) loans receivable, gross, excluding secured borrowings	$ 28,196	$ 23,238
Current	98.80%	97.70%
Between 30 and 59 days delinquent	1.20%	0.60%
Over 89 days delinquent		1.70%
Aging of loans receivable percent	100.00%	100.00%

Loans Receivable, net (Details 2) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Classified loans receivable
Loans receivable, gross, excluding secured borrowings	$ 204,218	$ 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	$ 187,749	$ 189,836
Percentage of loan receivable in aggregate loan receivable	92.00%	92.20%
OAEM [Member]
Classified loans receivable
Loans receivable, gross, excluding secured borrowings	$ 81	$ 3,354
Percentage of loan receivable in aggregate loan receivable		1.60%
Substandard [Member]
Classified loans receivable
Loans receivable, gross, excluding secured borrowings	$ 13,043	$ 10,790
Percentage of loan receivable in aggregate loan receivable	6.40%	5.20%
Doubtful [Member]
Classified loans receivable
Loans receivable, gross, excluding secured borrowings	$ 3,345	$ 1,983
Percentage of loan receivable in aggregate loan receivable	1.60%	1.00%
Commercial Mortgage Loans [Member]
Classified loans receivable
Loans receivable, gross, commercial mortgage loans	$ 176,022	$ 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	$ 159,994	$ 167,397
Percentage of loan receivable in aggregate loan receivable	90.90%	91.60%
Commercial Mortgage Loans [Member] \| OAEM [Member]
Classified loans receivable
Loans receivable, gross, commercial mortgage loans		$ 3,317
Percentage of loan receivable in aggregate loan receivable		1.80%
Commercial Mortgage Loans [Member] \| Substandard [Member]
Classified loans receivable
Loans receivable, gross, commercial mortgage loans	$ 12,917	$ 10,569
Percentage of loan receivable in aggregate loan receivable	7.30%	5.80%
Commercial Mortgage Loans [Member] \| Doubtful [Member]
Classified loans receivable
Loans receivable, gross, commercial mortgage loans	$ 3,111	$ 1,442
Percentage of loan receivable in aggregate loan receivable	1.80%	0.80%
SBA 7(a) loans [Member]
Classified loans receivable
SBA 7(a) loans receivable, gross, excluding secured borrowings	$ 28,196	$ 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 7(a) loans receivable, gross, excluding secured borrowings	$ 27,755	$ 22,439
Percentage of loan receivable in aggregate loan receivable	98.50%	96.60%
SBA 7(a) loans [Member] \| OAEM [Member]
Classified loans receivable
SBA 7(a) loans receivable, gross, excluding secured borrowings	$ 81	$ 37
Percentage of loan receivable in aggregate loan receivable	0.30%	0.10%
SBA 7(a) loans [Member] \| Substandard [Member]
Classified loans receivable
SBA 7(a) loans receivable, gross, excluding secured borrowings	$ 126	$ 221
Percentage of loan receivable in aggregate loan receivable	0.40%	1.00%
SBA 7(a) loans [Member] \| Doubtful [Member]
Classified loans receivable
SBA 7(a) loans receivable, gross, excluding secured borrowings	$ 234	$ 541
Percentage of loan receivable in aggregate loan receivable	0.80%	2.30%

Loans Receivable, net (Details 3) - USD ($) $ in Thousands	12 Months Ended
Loans Receivable, net (Details 3) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Loan loss reserves
Balance, beginning of year	$ 1,812	$ 1,609	$ 1,257
Provision for loan losses	2,505	826	1,019
Reduction of loan losses	(104)	(366)	(378)
Recoveries	(467)
Principal balances written-off, net	(333)	(257)	(473)
Consolidation of the 2000 Joint Venture and the 1998 Partnership reserves			184
Balance, end of year	3,413	1,812	1,609
Commercial Mortgage Loans [Member]
Loan loss reserves
Balance, beginning of year	1,329	1,303	1,055
Provision for loan losses	2,219	429	607
Reduction of loan losses	(70)	(342)	(309)
Recoveries	(467)
Principal balances written-off, net	(161)	(61)	(234)
Consolidation of the 2000 Joint Venture and the 1998 Partnership reserves			184
Balance, end of year	2,850	1,329	1,303
SBA 7(a) loans [Member]
Loan loss reserves
Balance, beginning of year	483	306	202
Provision for loan losses	286	397	412
Reduction of loan losses	(34)	(24)	(69)
Recoveries	0
Principal balances written-off, net	(172)	(196)	(239)
Consolidation of the 2000 Joint Venture and the 1998 Partnership reserves			0
Balance, end of year	$ 563	$ 483	$ 306

- 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 4) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Loans considered to be impaired loans
Impaired loans requiring reserves	$ 10,927	$ 7,411	$ 687
Impaired loans expected to be fully recoverable	2,244	846	228
Total impaired loans	13,171	8,257	915
Loan loss reserves	1,535	563	219
Commercial Mortgage Loans [Member]
Loans considered to be impaired loans
Impaired loans requiring reserves	10,049	7,027	419
Impaired loans expected to be fully recoverable	2,123	689	228
Total impaired loans	12,172	7,716	647
Loan loss reserves	1,382	372	25
SBA 7(a) Loans [Member]
Loans considered to be impaired loans
Impaired loans requiring reserves	878	384	268
Impaired loans expected to be fully recoverable	121	157
Total impaired loans	999	541	268
Loan loss reserves	$ 153	$ 191	$ 194

Loans Receivable, net (Details 5) - USD ($) $ in Thousands	12 Months Ended
Loans Receivable, net (Details 5) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Loans considered to be impaired loans
Average impaired loans	$ 9,895	$ 8,176	$ 4,317
Interest income on impaired loans	372	290	114
Commercial Mortgage Loans [Member]
Loans considered to be impaired loans
Average impaired loans	9,116	7,610	3,558
Interest income on impaired loans	359	271	89
SBA 7(a) Loans [Member]
Loans considered to be impaired loans
Average impaired loans	779	566	759
Interest income on impaired loans	$ 13	$ 19	$ 25

Loans Receivable, net (Details 6) $ in Thousands	Dec. 31, 2012 USD ($) Loans	Dec. 31, 2011 USD ($) Loans	Dec. 31, 2010 USD ($)	Dec. 31, 2009 USD ($)
Troubled debt restructurings
Loans loss reserves	$ 3,413	$ 1,812	$ 1,609	$ 1,257
Commercial Mortgage Loans [Member]
Troubled debt restructurings
Troubled debt restructurings requiring reserves, Recorded Investment	10,049	5,591
Troubled debt restructurings without reserves, Recorded Investment	2,123	689
Total Troubled Debt Restructurings, Recorded Investment	12,172	6,280
Troubled debt restructurings requiring reserves, Unpaid Principal Balance	10,531	5,730
Troubled debt restructurings without reserves, Unpaid Principal Balance	2,172	749
Total Troubled Debt Restructurings, Unpaid Principal Balance	$ 12,703	$ 6,479
Number of loans \| Loans	8	4
Loans loss reserves	$ 1,382	$ 236
SBA 7(a) loans [Member]
Troubled debt restructurings
Troubled debt restructurings requiring reserves, Recorded Investment	854
Troubled debt restructurings without reserves, Recorded Investment	0
Total Troubled Debt Restructurings, Recorded Investment	854
Troubled debt restructurings requiring reserves, Unpaid Principal Balance	846
Troubled debt restructurings without reserves, Unpaid Principal Balance	0
Total Troubled Debt Restructurings, Unpaid Principal Balance	$ 846
Number of loans \| Loans	1
Loans loss reserves	$ 130

Loans Receivable, net (Details Textual)	12 Months Ended
Loans Receivable, net (Details Textual)	Dec. 31, 2012 USD ($) Property	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Loans Receivable, net (Textual) [Abstract]
Recorded investment in non accrual loans	$ 5,768,000	$ 1,820,000
Loans Receivable net (Additional Textual) [Abstract]
Concentrations of investments in hospitality industry	94.00%
Government guaranteed portion of loan related secured borrowing on non accrual status	$ 634,000
Loans receivable affiliated group of obligors	5.00%
Troubled debt restructurings paying interest only		$ 5,600,000
Foreclosing on collateral underlying	$ 211,000
Number of limited service hospitality properties \| Property	2
Loans collateralized by properties in Texas	15.00%	18.00%
State loan receivable concentration	10.00%
Bankruptcy claims amount of claims filed		$ 1,400,000
Maximum loans receivable single borrower	10.00%
Provision for loan losses	1.25%	0.40%
Five year aggregate for provision for loan losses, net	$ 4,500,000
Provision for loan losses basis points	0.46%
Loan loss reserves as percentage loans receivable	1.70%
Loans receivable past due 90 days or more which were accruing interest	$ 0	$ 0
Loans receivable past due	90 days	90 days
Voluntary modification of loans recorded investment	$ 4,800,000
Modified loans no longer complying with their terms	3,100,000
Involuntary modification due to bankruptcy loans recorded investment	6,000,000
Commercial Loan [Member]
Loans Receivable, net (Textual) [Abstract]
Unpaid principal balance of our impaired commercial mortgage loans	12,704,000	$ 7,940,000	$ 678,000
Recorded investment in commercial mortgage non accrual loans	4,913,000	1,436,000
Loans classified as troubled debt restructurings which are current based on revised note terms	7,600,000	6,300,000
Loans classified as troubled debt restructurings which are between 30 and 59 days delinquent	2,300,000
SBA 7(a) loans [Member]
Loans Receivable, net (Textual) [Abstract]
Retained loans discount	2,100,000	1,600,000
Unpaid principal balance of our impaired SBA 7(a) loans (excluding the government guaranteed portion)	362,000	593,000	$ 288,000
Recorded investment in non accrual loans	855,000	384,000
SBA 7(a) loans, subject to secured borrowings [Member]
Loans Receivable, net (Textual) [Abstract]
SBA 7(a) loans, subject to secured borrowings	$ 37,909,000	$ 30,151,000

Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Other Asset
Deferred tax asset, net	$ 1,626	$ 1,409
Servicing asset, net	1,261	979
Deferred borrowing costs, net	1,218	1,128
Investment in variable interest entity	820	820
Retained interests in transferred assets	773	996
Interest receivable	620	710
Prepaid expenses and deposits	330	303
Other	99	481
Other Assets, Total	$ 6,747	$ 6,826

Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Summary of Debt
Secured borrowings - government guaranteed loans	$ 41,008	$ 32,546
Junior subordinated notes	27,070	27,070
SBIC debentures payable	17,190	13,181
Revolving credit facility	11,900	17,800
Structured notes payable		5,264
Debt	97,168	95,861
Loans sold for premium and excess spread - principal [Member]
Summary of Debt
Secured borrowings - government guaranteed loans	$ 32,062	$ 24,174
Weighted Average Coupon Rate	4.09%	4.15%
Loans sold for a premiums and excess spread - deferred premiums [Member]
Summary of Debt
Secured borrowings - government guaranteed loans	$ 3,099	$ 2,395
Weighted Average Coupon Rate
Loans sold for excess spread [Member]
Summary of Debt
Secured borrowings - government guaranteed loans	$ 5,847	$ 5,977
Weighted Average Coupon Rate	1.58%	1.58%
Junior subordinated notes [Member]
Summary of Debt
Weighted Average Coupon Rate	3.61%	3.62%
Revolving credit facility [Member]
Summary of Debt
Weighted Average Coupon Rate	2.30%	2.47%
Debentures payable [Member]
Summary of Debt
Weighted Average Coupon Rate	4.47%	4.99%
Structured notes payable [Member]
Summary of Debt
Structured Notes Payable Coupon Rate		3.08%

Debt (Details 1) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Principal payments on debt
2013	$ 6,122
2014	13,173
2015	5,312
2016	1,353
2017	1,397
Thereafter	69,811
Total principal payments on debt	97,168	$ 95,870
Secured Borrowings Principal [Member]
Principal payments on debt
2013	1,717
2014	1,121
2015	1,160
2016	1,201
2017	1,245
Thereafter	31,465
Total principal payments on debt	37,909
Secured Borrowings Deferred Premiums [Member]
Principal payments on debt
2013	215
2014	152
2015	152
2016	152
2017	152
Thereafter	2,276
Total principal payments on debt	3,099
All other debt [Member]
Principal payments on debt
2013	4,190
2014	11,900
2015	4,000
Thereafter	36,070
Total principal payments on debt	$ 56,160

Debt (Details Textual) - USD ($)	12 Months Ended
Debt (Details Textual) - USD ($)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Jan. 01, 2013
Long Term Debt Unclassified [Line Items]
Debt instrument face amount	$ 97,168,000	$ 95,870,000
Proceeds on revolving credit facility	48,300,000	41,800,000	$ 34,650,000
Repayments on revolving credit facility	$ 54,200,000	37,800,000	43,850,000
Percentage charged as unused fee	0.375%
Interest Paid	$ 3,495,000	$ 3,733,000	$ 3,791,000
Rate of cash premium	10.00%
Debt (Textual) [Abstract]
Line of Credit Facility, Current Borrowing Capacity	$ 35,000,000			$ 40,000,000
Repayment of structured note date	Feb. 15, 2012
Spread under prime interest rate on revolving credit facility	0.50%
Secured borrowings [Member]
Long Term Debt Unclassified [Line Items]
Rate of cash premium	10.00%
Junior subordinated notes [Member]
Long Term Debt Unclassified [Line Items]
Period of Line of Credit	90 days
Interest Rate of LIBOR	3.25%
Line of Credit [Member]
Long Term Debt Unclassified [Line Items]
Period of Line of Credit	30 days
Interest Rate of LIBOR	2.00%
Maximum [Member]
Long Term Debt Unclassified [Line Items]
Minimum net worth	$ 134,500,000
Minimum [Member] \| Line of Credit [Member]
Long Term Debt Unclassified [Line Items]
Minimum net worth				$ 132,000,000

Cumulative Preferred Stock of Subsidiary (Details) - Small Business Investment Company Subsidiaries [Member] - USD ($)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cumulative Preferred Stock of Subsidiary (Textual) [Abstract]
Shares outstanding	30,000
Par value of shares	$ 100
Percentage of outstanding preferred stock	3.00%
Cost of redeemable preferred stock	$ 3,000,000
Value of redeemed preferred stock	900,000
Dividends	$ 90,000	$ 90,000	$ 90,000

Earnings Per Share (Details Textual) - shares	12 Months Ended
Earnings Per Share (Details Textual) - shares	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Earnings Per Share (Textual) [Abstract]
Basic weighted average common shares outstanding	10,585,000	10,570,000	10,554,000
Weighted average diluted shares outstanding increased		14,000	16,000
Stock options not exercised	112,500	81,000	77,000

- 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

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

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

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Weighted-Average Number of Common Shares Outstanding
-URI http://asc.fasb.org/extlink&oid=6528421

Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 8
-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 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.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-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.

+ Details

Dividends Paid and Declared (Details) - $ / shares	3 Months Ended				12 Months Ended
Dividends Paid and Declared (Details) - $ / shares	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2012
Summary of dividends paid and declared
Record Date	Dec. 31, 2012	Sep. 28, 2012	Jun. 29, 2012	Mar. 30, 2012
Date Paid	Jan. 07, 2013	Oct. 09, 2012	Jul. 09, 2012	Apr. 09, 2012
Amount per share	$ 0.12	$ 0.16	$ 0.16	$ 0.16	$ 0.60

Other Income (Details) - USD ($) $ in Thousands	12 Months Ended
Other Income (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Summary of Other Income
Servicing income	$ 499	$ 399	$ 344
Prepayment fees	279	118	378
Loan related income	221	196	226
Retained interest in transferred assets	189	215	163
Other	92	127	106
Other Income, Total	$ 1,280	$ 1,055	$ 1,217

Severance and Related Benefits (Details)	12 Months Ended
Severance and Related Benefits (Details)	Dec. 31, 2012 USD ($)
Severance And Related Benefits (Textual) [Abstract]
Tenure of CEO serving as a consultant	1 year
Severance and related benefits	$ 2,114,000
Liability for severance payments	$ 1,806,000

Income Taxes (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Taxable Income Reconciliation [Abstract]
Net income (loss)	$ (2,179)	$ 3,647	$ 4,297
Gains related to real estate		(235)	387
Strategic alternatives	(678)	678
Impairment losses	300	804	317
Severance accrual (payments)	1,777	(100)	(33)
Amortization and accretion	(188)	(68)	(102)
Loan valuation	1,403	184	(241)
Other, net	157	8	(174)
Subtotal	592	4,918	4,451
Adjustment for TRS net loss (income), net of tax	(840)	(131)	340
Dividend distribution from TRS		1,000	300
REIT taxable income (loss)	(248)	5,787	5,091
Distributions declared	$ 6,353	$ 6,767	$ 6,757
Basic weighted average common shares outstanding	10,585	10,570	10,554

Income Taxes (Details 1) - $ / shares	12 Months Ended
Income Taxes (Details 1) - $ / shares	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Dividends per share
Amount Per Share	$ 0.600	$ 0.640	$ 0.640
Dividends paid percentage	100.00%	100.00%	100.00%
Non-qualified dividends [Member]
Dividends per share
Amount Per Share		$ 0.477	$ 0.568
Dividends paid percentage		74.53%	88.75%
Qualified Dividends [Member]
Dividends per share
Amount Per Share		$ 0.095	$ 0.028
Dividends paid percentage		14.78%	4.37%
Non-taxable return of capital [Member]
Dividends per share
Amount Per Share	$ 0.600	$ 0.068	$ 0.044
Dividends paid percentage	100.00%	10.69%	6.88%

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 2) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Federal
Current provision	$ 821	$ 483	$ 514
Deferred benefit	(256)	(369)	(645)
Income tax provision (benefit)	$ 565	$ 114	$ (131)

- Definition

The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted federal tax law to the domestic taxable Income or Loss from continuing operations.

+ References

+ Details

- Definition

The component of total income tax expense for the period comprised of the increase (decrease) during the period in the entity's domestic deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the federally enacted tax law.

+ References

+ Details

Income Taxes (Details 3) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Reconciliation of TRS income tax attributable to net income (loss)
Income (loss) from continuing operations before income taxes for TRS's	$ 1,628	$ 245	$ (471)
Expected Federal income tax provision (benefit)	553	83	(160)
Preferred dividend of subsidiary	31	31	31
Other adjustments	(19)		(2)
Income tax provision (benefit)	$ 565	$ 114	$ (131)

Income Taxes (Details 4) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Deferred tax assets:
Secured borrowings - government guaranteed loans	$ 1,054	$ 814
Retained interests in transferred assets	387	364
Servicing asset	268	225
Net operating losses	25	25
Other	69	38
Total gross deferred tax assets	1,803	1,466
Deferred tax liabilities:
Loans receivable	177	56
Discount on debentures payable		1
Total gross deferred tax liabilities	177	57
Deferred tax asset, net	$ 1,626	$ 1,409

Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Taxes (Textual) [Abstract]
Percentage distribution of taxable income	90.00%
Federal statutory rates	34.00%
Income taxes paid	$ 617	$ 612	$ 538
Income tax benefit	$ (115)
Maximum [Member]
Income Tax Disclosure [Line Items]
Expiration of net operating loss carryforwards	2031
Minimum [Member]
Income Tax Disclosure [Line Items]
Expiration of net operating loss carryforwards	2027

- Definition

Tax effect allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. Includes the tax effects of the following: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References

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

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=18498875&loc=d3e38679-109324

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 47
-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 109
-Paragraph 46
-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 144
-Paragraph 43
-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, Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Discontinued operations, Net of Tax
Net gains (losses) on sales of real estate	$ (15)	$ 532	$ 78
Net operating losses	(582)	(690)	(298)
Impairment losses	(341)	(887)	(325)
Income tax benefit	115
Discontinued operations, net of tax	$ (823)	$ (1,045)	$ (545)

Amount of income (loss) from a disposal group, net of income tax, reported as a separate component of income before extraordinary items after deduction or consideration of the amount allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References + Details

Discontinued Operations, Net of Tax (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Discontinued Operations, Net of Tax (Textual) [Abstract]
Gain/loss from sales of property			$ 76,000
Estimated fair value of collateral on foreclosed loans	$ 1,481,000
Deferred gains from property sales		$ 685,000
Property One [Member]
Discontinued Operations, Net of Tax (Textual) [Abstract]
Property sold	1,375,000
Gain/loss from sales of property		$ 153,000
Assets acquired through foreclosure sold during the period financing amount	825,000
Cash Proceeds From Sale of Property	550,000
Other Property [Member]
Discontinued Operations, Net of Tax (Textual) [Abstract]
Gain/loss from sales of property	19,000
Estimated fair value of collateral on foreclosed loans	$ 76,000

Dividend Reinvestment and Cash Purchase Plan (Details)	12 Months Ended
Dividend Reinvestment and Cash Purchase Plan (Details)	Dec. 31, 2012
Dividend Reinvestment And Cash Purchase Plan (Textual) [Abstract]
Average of closing price of the Common Shares	100.00%

Profit Sharing Plan (Details) - Deferred Profit Sharing [Member] - USD ($)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Profit Sharing Plan (Textual) [Abstract]
Percentage of vesting increased after sixth year of employment	100.00%
Amount expensed	$ 247,000	$ 234,000	$ 216,000

Share-Based Compensation Plans (Details) - $ / shares	12 Months Ended
Share-Based Compensation Plans (Details) - $ / shares	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Roll Forward
Shares outstanding, Beginning	94,750	90,750	89,650
Weighted Average Exercise Price, Beginning	$ 9.09	$ 10.11	$ 11.77
Stock options and Granted	30,000	27,000	26,500
Stock options and Granted, Weighted Average Exercise Price Per Award	$ 7.80	$ 8.75	$ 8.35
Stock options and Exercised			(1,500)
Stock options and Exercised, Weighted Average Exercise Price Per Award			$ 7.65
Stock options and Expired	(12,250)	(23,000)	(23,900)
Stock options and Expired, Weighted Average Exercise Price Per Award	$ 14.01	$ 12.72	$ 14.54
Outstanding and exercisable	112,500	94,750	90,750
Outstanding and exercisable, weighted average exercise price	$ 8.21	$ 9.09	$ 10.11
Weighted-average fair value per share of stock options granted during the year	$ 0.40	$ 1.10	$ 1.24

Share-Based Compensation Plans (Details 1)	12 Months Ended
Share-Based Compensation Plans (Details 1)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Black-Scholes option-pricing model
Expected Term (years)	3 years	3 years	3 years
Risk-Free Interest Rate	0.39%	0.71%	1.23%
Expected Dividend Yield	8.21%	7.31%	7.66%
Expected Volatility	21.12%	33.58%	40.29%
Forfeiture Rate	1.00%	2.00%	10.00%

Share-Based Compensation Plans (Details 2)	12 Months Ended
Share-Based Compensation Plans (Details 2)	Dec. 31, 2012 $ / shares shares
Schedule of share based compensation arrangement by share based payment award options outstanding and exercisable
Number of shares Outstanding \| shares	112,500
Range One [Member]
Schedule of share based compensation arrangement by share based payment award options outstanding and exercisable
Exercise Price Range, Lower Range Limit	$ 7.65
Exercise Price Range, Upper Range Limit	$ 7.80
Number of shares Outstanding \| shares	44,000
Weighted Average Remaining Contract Life (in years)	3 years 3 months
Weighted Average Exercise Price	$ 7.75
Range Two [Member]
Schedule of share based compensation arrangement by share based payment award options outstanding and exercisable
Exercise Price Range, Lower Range Limit	8.35
Exercise Price Range, Upper Range Limit	$ 8.75
Number of shares Outstanding \| shares	68,500
Weighted Average Remaining Contract Life (in years)	2 years 7 months 13 days
Weighted Average Exercise Price	$ 8.51
Range Three [Member]
Schedule of share based compensation arrangement by share based payment award options outstanding and exercisable
Exercise Price Range, Lower Range Limit	7.65
Exercise Price Range, Upper Range Limit	$ 8.75
Weighted Average Remaining Contract Life (in years)	2 years 10 months 13 days
Weighted Average Exercise Price	$ 8.21

Share-Based Compensation Plans (Details 3) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Summary Of Changes In Outstanding Restricted Stock Units And Restricted Stock
Outstanding at January 1	11,031	12,066	17,416
Weighted Average Fair Value at Grant Date, Beginning Balance	$ 8.57	$ 8.35	$ 8.14
Granted	15,000	15,000	13,100
Weighted Average Fair Value at Grant Date, Granted	$ 7.45	$ 8.73	$ 8.35
Vested	(19,365)	(16,035)	(15,050)
Weighted Average Fair Value at Grant Date, Vested	$ 7.98	$ 8.55	$ 8.11
Forfeited			(3,400)
Weighted Average Fair Value at Grant Date, Forfeited			$ 8.35
Outstanding at December 31	6,666	11,031	12,066
Weighted Average Fair Value at Grant Date, Ending Balance	$ 7.75	$ 8.57	$ 8.35

Share-Based Compensation Plans (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Share-Based Compensation Plans (Textual) [Abstract]
Shares authorized for grants	500,000
Contractual life of stock options granted	5 years
Expected term of Risk-Free Interest Rate	3 years	3 years	3 years
Compensation expenses option award	$ 12,000	$ 30,000	$ 33,000
Terms of Award	restricted share awards generally 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.
Vesting Period	2 years
Cost recognized to the restricted shares (in years)	2 years
Compensation expense	$ 126,000	$ 148,000	$ 101,000
Unrecognized compensation expense related to the restricted shares	15,000
Fair value of restricted shares vested	$ 145,000

Supplemental Disclosure of Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Non-cash activities
Reclassification from loans receivable to real estate owned	$ 1,481	$ 409	$ 4,040
Loans receivable originated to facilitate sales of real estate owned	$ 1,225	$ 1,172	3,325
Reclassifications reducing secured borrowings - government guaranteed loans and loans receivable, net			7,692
Consolidation of off-balance sheet securitizations:
Off balance sheet loans receivable			27,752
Off balance sheet restricted cash and cash equivalents			3,396
Off balance sheet structured notes payable			$ 19,524

Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Estimated fair value of impaired loans on nonrecurring basis
Impaired loans, Carrying value	$ 11,637	$ 7,694
Impaired loans, Provision for (Reduction of) Loan Losses	$ 1,163	$ 438

Fair Values of Financial Instruments (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Activity for REO
Balance as of beginning of year	$ 1,259	$ 3,477
Foreclosures	1,481	409
Additions		17
Cost of sales	(1,660)	(1,757)
Impairment losses	(341)	(887)	$ (325)
Balance as of end of year	$ 739	$ 1,259	$ 3,477

Fair Values of Financial Instruments (Details 2) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Assets:
SBA 7(a) loans receivable, subject to secured borrowings	$ 38,349	$ 30,476
Liabilities:
Revolving credit facility	11,900	17,800
Junior subordinated notes	27,070	27,070
Carrying Amount [Member] \| Level 3 inputs [Member]
Assets:
Loans Receivable, subject to credit risk	200,642	203,951
SBA 7(a) loans receivable, subject to secured borrowings	38,349	30,476
Liabilities:
Structured notes and SBIC debentures payable	17,190	18,445
Secured borrowings - government guaranteed loans	41,008	32,546
Revolving credit facility	11,900	17,800
Junior subordinated notes	27,070	27,070
Estimated Fair Value [Member] \| Level 3 inputs [Member]
Assets:
Loans Receivable, subject to credit risk	181,112	190,255
SBA 7(a) loans receivable, subject to secured borrowings	43,096	34,140
Liabilities:
Structured notes and SBIC debentures payable	18,027	19,027
Secured borrowings - government guaranteed loans	41,008	32,546
Revolving credit facility	11,900	17,800
Junior subordinated notes	$ 22,592	$ 22,595

Commitments and Contingencies (Details) $ in Thousands	Dec. 31, 2012 USD ($)
Future minimum lease payments
2013	$ 212
2014	217
2015	36
Future Minimum Lease Payments, Total	$ 465

Commitments and Contingencies (Details Textual)	12 Months Ended
Commitments and Contingencies (Details Textual)	Dec. 31, 2012 USD ($) Payment	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Commitments and Contingencies (Textual) [Abstract]
Outstanding loan commitments and approvals to fund loans	$ 19,500,000
Lease expiration date of office space in Dallas, Texas	Feb. 01, 2015
Rent expense	$ 187,000	$ 179,000	$ 168,000
Employment agreements with executive officer expiration date	Dec. 31, 2015
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
Minimum net worth required to maintain a licensee, Description	Greater of (1) 10% of the outstanding loans receivable of our SBLC or (2) $1.0 million
Percentage of outstanding loans receivable required to maintain licensee	10.00%
Minimum net worth required to maintain a licensee	$ 1,000,000
Dividend available for distribution	$ 2,000,000

Mortgage Loans on Real Estate (Details 1) $ in Thousands	12 Months Ended
Mortgage Loans on Real Estate (Details 1) $ in Thousands	Dec. 31, 2012 USD ($) Loans	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 55,387	$ 39,524	$ 69,701
SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	184
Carrying Amount of Mortgages	$ 66,733
Principal amount of loan subject to delinquent principal or "interest"
SBA 7(a) loans [Member] \| Secured Borrowings [Member]
Mortgage Loans on Real Estate [Line Items]
Carrying Amount of Mortgages	37,909
Principal amount of loan subject to delinquent principal or "interest"
SBA 7(a) loans [Member] \| Government Guaranteed Portions [Member]
Mortgage Loans on Real Estate [Line Items]
Carrying Amount of Mortgages	2,449
Principal amount of loan subject to delinquent principal or "interest"
Texas [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	35
Mortgage loan on minimum interest rate	4.13%
Interest rate variable	6.00%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 3,462
Final maturity date Start	Apr. 26, 2014
Final Maturity Date End	Oct. 18, 2037
Principal amount of loan subject to delinquent principal or "interest"
Texas [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Texas [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Michigan [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	18
Mortgage loan on minimum interest rate	5.25%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 2,464
Final maturity date Start	Feb. 16, 2013
Final Maturity Date End	Jun. 27, 2037
Principal amount of loan subject to delinquent principal or "interest"
Michigan [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Michigan [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
North Carolina [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	7
Mortgage loan on minimum interest rate	5.75%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 2,117
Final maturity date Start	Sep. 08, 2032
Final Maturity Date End	Oct. 25, 2037
Principal amount of loan subject to delinquent principal or "interest"
North Carolina [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
North Carolina [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Ohio [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	14
Mortgage loan on minimum interest rate	4.25%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 1,719
Final maturity date Start	May 11, 2013
Final Maturity Date End	Nov. 04, 2037
Principal amount of loan subject to delinquent principal or "interest"
Ohio [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Ohio [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Indiana [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	9
Mortgage loan on minimum interest rate	4.75%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 1,493
Final maturity date Start	Nov. 19, 2019
Final Maturity Date End	Aug. 30, 2037
Principal amount of loan subject to delinquent principal or "interest"
Indiana [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Indiana [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Virginia [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	6
Interest rate variable	6.00%
Carrying Amount of Mortgages	$ 1,375
Final maturity date Start	Dec. 13, 2027
Final Maturity Date End	Oct. 15, 2037
Principal amount of loan subject to delinquent principal or "interest"
Virginia [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Virginia [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Wisconsin [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	7
Mortgage loan on minimum interest rate	5.00%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 1,248
Final maturity date Start	Apr. 23, 2020
Final Maturity Date End	Nov. 14, 2037
Principal amount of loan subject to delinquent principal or "interest"
Wisconsin [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Wisconsin [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Illinois [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	5
Mortgage loan on minimum interest rate	5.75%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 1,196
Final maturity date Start	Mar. 26, 2019
Final Maturity Date End	Sep. 18, 2037
Principal amount of loan subject to delinquent principal or "interest"
Illinois [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Illinois [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Kentucky [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	5
Interest rate variable	6.00%
Carrying Amount of Mortgages	$ 1,154
Final maturity date Start	Apr. 09, 2035
Final Maturity Date End	Dec. 28, 2037
Principal amount of loan subject to delinquent principal or "interest"
Kentucky [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Kentucky [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Alabama [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	4
Mortgage loan on minimum interest rate	5.00%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 1,035
Final maturity date Start	Jul. 27, 2025
Final Maturity Date End	Aug. 25, 2036
Principal amount of loan subject to delinquent principal or "interest"
Alabama [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Alabama [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Mississippi [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	3
Mortgage loan on minimum interest rate	5.75%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 1,019
Final maturity date Start	May 18, 2035
Final Maturity Date End	Nov. 04, 2036
Principal amount of loan subject to delinquent principal or "interest"
Mississippi [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Mississippi [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Florida [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	8
Mortgage loan on minimum interest rate	5.75%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 1,007
Final maturity date Start	Jun. 12, 2016
Final Maturity Date End	Dec. 29, 2036
Principal amount of loan subject to delinquent principal or "interest"
Florida [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Florida [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Georgia [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	6
Mortgage loan on minimum interest rate	5.13%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 855
Final maturity date Start	May 23, 2020
Final Maturity Date End	Jun. 25, 2035
Principal amount of loan subject to delinquent principal or "interest"
Georgia [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Georgia [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Iowa [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	3
Mortgage loan on minimum interest rate	5.75%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 769
Final maturity date Start	Dec. 22, 2035
Final Maturity Date End	Oct. 17, 2037
Principal amount of loan subject to delinquent principal or "interest"
Iowa [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Iowa [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Connecticut [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	2
Mortgage loan on minimum interest rate	5.13%
Mortgage loan on maximum interest rate	5.63%
Carrying Amount of Mortgages	$ 703
Final maturity date Start	Dec. 05, 2014
Final Maturity Date End	Nov. 30, 2036
Principal amount of loan subject to delinquent principal or "interest"
Connecticut [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	1,000
Connecticut [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Arizona [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	5
Mortgage loan on minimum interest rate	5.75%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 650
Final maturity date Start	Oct. 28, 2019
Final Maturity Date End	Apr. 28, 2036
Principal amount of loan subject to delinquent principal or "interest"
Arizona [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Arizona [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Oklahoma [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	6
Mortgage loan on minimum interest rate	4.75%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 621
Final maturity date Start	Sep. 09, 2024
Final Maturity Date End	Nov. 10, 2035
Principal amount of loan subject to delinquent principal or "interest"
Oklahoma [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Oklahoma [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Missouri [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	5
Mortgage loan on minimum interest rate	5.25%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 613
Final maturity date Start	Apr. 16, 2018
Final Maturity Date End	Sep. 12, 2037
Principal amount of loan subject to delinquent principal or "interest"
Missouri [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Missouri [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Kansas [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	3
Interest rate variable	6.00%
Carrying Amount of Mortgages	$ 580
Final maturity date Start	Oct. 29, 2032
Final Maturity Date End	May 04, 2036
Principal amount of loan subject to delinquent principal or "interest"
Kansas [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Kansas [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0
Other [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Number of loans \| Loans	33
Mortgage loan on minimum interest rate	5.00%
Mortgage loan on maximum interest rate	6.00%
Carrying Amount of Mortgages	$ 2,295
Final maturity date Start	Jan. 31, 2015
Final Maturity Date End	Sep. 13, 2037
Principal amount of loan subject to delinquent principal or "interest"
Other [Member] \| Maximum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	500
Other [Member] \| Minimum [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate [Line Items]
Size of loans	$ 0

Mortgage Loans on Real Estate (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Movement in Mortgage Loans on Real Estate
Mortgage Loans on Real Estate, Beginning Balance	$ 234,427	$ 233,218	$ 196,642
New mortgage loans	55,387	39,524	69,701
Other - deferral for collection of commitment fees, net of costs	421	410	324
Other - accretion of loan fees and discounts	204	17	317
Additions during period	56,012	39,951	70,343
Principal collected on loans receivable	(28,562)	(21,473)	(20,999)
Foreclosures	(1,481)	(409)	(4,040)
Cost of mortgages sold, net	(19,471)	(16,400)	(7,903)
Other - consolidation of loan loss reserves			(184)
Other - bad debt expense, net of recoveries	(1,934)	(460)	(641)
Deductions during period	(51,448)	(38,742)	(33,767)
Mortgage Loans on Real Estate, Ending Balance	$ 238,991	$ 234,427	$ 233,218

Mortgage Loans on Real Estate (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Mortgage Loans on Real Estate (Textual) [Abstract]
New mortgage loans from consolidation of joint venture			$ 22,912,000
New mortgage loans from consolidation of partnership			5,024,000
New mortgage loans sale of real estate owned	$ 1,225,000	$ 1,172,000	3,325,000
Reduction of loans receivable for secured borrowings			$ 7,692,000
Conventional Loans [Member]
Mortgage Loans on Real Estate (Textual) [Abstract]
General reserves	1,468,000
Cost basis of mortgage loans for federal income tax purposes	176,457,000
SBA 7(a) loans [Member]
Mortgage Loans on Real Estate (Textual) [Abstract]
General reserves	410,000
Loans not secured by real estate	547,000
Loans with subordinate lien positions	324,000
Cost basis of mortgage loans for federal income tax purposes	27,526,000
Texas [Member] \| Conventional Loans [Member]
Mortgage Loans on Real Estate (Textual) [Abstract]
Loans face value	3,162,000
Loans valuation reserve	403,000
Texas [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate (Textual) [Abstract]
Loans face value	100,000
Loans valuation reserve	$ 23,000
Loans fixed interest percentage	6.00%
Virginia [Member] \| Conventional Loans [Member]
Mortgage Loans on Real Estate (Textual) [Abstract]
Loans face value	$ 3,122,000
Loans valuation reserve	$ 144,000
Virginia [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate (Textual) [Abstract]
Loans fixed interest percentage	6.00%
Virginia One [Member] \| Conventional Loans [Member]
Mortgage Loans on Real Estate (Textual) [Abstract]
Loans face value	$ 1,045,000
Loans valuation reserve	21,000
Other [Member] \| Conventional Loans [Member]
Mortgage Loans on Real Estate (Textual) [Abstract]
Loans face value	3,203,000
Loans valuation reserve	814,000
Wisconsin [Member] \| SBA 7(a) loans [Member]
Mortgage Loans on Real Estate (Textual) [Abstract]
Loans face value	846,000
Loans valuation reserve	$ 130,000