Investments in Real Estate Properties

12 Months Ended

Dec. 31, 2013

Real Estate [Abstract]

Investments in Real Estate Properties

11. Investments in Real Estate Properties

During 2013 and 2012, the FNBC CDC purchased various affordable residential real estate properties in the New Orleans area for the purpose of making improvements to these properties and selling the properties. The Company’s cost basis (including the cost of improvements) in these residential real estate properties totaled $10.1 million and $6.9 million at December 31, 2013 and 2012, respectively. During the years ended December 31, 2013, 2012, and 2011, the Company capitalized costs of $5.0 million, $0.9 million, and $1.0 million, respectively.