Note 13 – Guaranteed loan financing

Participations or other partial loan sales which do not meet the definition of a participating interest remain as an investment on the unaudited interim consolidated balance sheets and the portion sold is recorded as guaranteed loan financing in the liabilities section of the unaudited interim consolidated balance sheets. For these partial loan sales, the interest earned on the entire loan balance is recorded as interest income and the interest earned by the buyer in the partial loan sale is recorded within interest expense in the accompanying unaudited interim consolidated statements of income.

The following table presents guaranteed loan financing and the related interest rates and maturity dates:


	Weighted		Range of
	Average		Interest	Range of
(In Thousands)	Interest Rate		Rates	Maturities (Years)	Ending Balance
September 30, 2019	3.77	%	3.46 – 8.25 %	2019 - 2037	$	25,571
December 31, 2018	4.46	%	1.70 – 8.00 %	2019 - 2038	$	229,678

The following table summarizes contractual maturities of total guaranteed loan financing outstanding:


(In Thousands)	September 30, 2019
2019	$	51
2020		306
2021		475
2022		138
2023		—
Thereafter		24,601
Total	$	25,571

Our guaranteed loan financings are secured by loans, net of $27.4 million and $249.2 million as of September 30, 2019 and December 31, 2018, respectively.