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Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2020
Schedule of classification, unpaid principal balance, and carrying value of loans held including loans of consolidated VIEs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2020

 

 

December 31, 2019

Loans (In Thousands)

 

Carrying Value

 

UPB

 

 

Carrying Value

 

UPB

Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

   Acquired SBA 7(a) loans

 

$

239,627

 

$

250,687

 

 

$

255,240

 

$

269,396

   Acquired loans

 

 

439,957

 

 

440,314

 

 

 

430,307

 

 

433,079

   Originated Transitional loans

 

 

799,640

 

 

807,732

 

 

 

593,657

 

 

600,226

   Originated SBC loans, at fair value

 

 

19,813

 

 

19,558

 

 

 

20,212

 

 

19,565

   Originated SBC loans

 

 

207,050

 

 

205,146

 

 

 

133,118

 

 

132,227

   Originated SBA 7(a) loans

 

 

295,873

 

 

298,050

 

 

 

297,934

 

 

299,580

   Originated Residential Agency loans

 

 

4,113

 

 

4,113

 

 

 

3,396

 

 

3,395

Total Loans, before allowance for loan losses

 

$

2,006,073

 

$

2,025,600

 

 

$

1,733,864

 

$

1,757,468

Allowance for loan losses

 

$

(37,021)

 

 

 —

 

 

$

(5,880)

 

 

 —

Total Loans, net

 

$

1,969,052

 

$

2,025,600

 

 

$

1,727,984

 

$

1,757,468

Loans in consolidated VIEs

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

   Originated SBC loans

 

$

1,008,011

 

$

998,420

 

 

$

1,037,844

 

$

1,026,921

   Acquired loans

 

 

622,213

 

 

628,044

 

 

 

666,226

 

 

671,698

   Originated Transitional loans

 

 

461,131

 

 

463,039

 

 

 

490,913

 

 

493,217

   Originated SBA 7(a) loans

 

 

75,337

 

 

79,520

 

 

 

79,457

 

 

83,559

   Acquired SBA 7(a) loans

 

 

49,432

 

 

61,672

 

 

 

53,320

 

 

66,997

Total Loans, in consolidated VIEs, before allowance for loan losses

 

$

2,216,124

 

$

2,230,695

 

 

$

2,327,760

 

$

2,342,392

Allowance for loan losses on loans in consolidated VIEs

 

$

(20,947)

 

 

 —

 

 

$

(1,561)

 

 

 —

Total Loans, net, in consolidated VIEs

 

$

2,195,177

 

$

2,230,695

 

 

$

2,326,199

 

$

2,342,392

Total Loans, net, and Loans, net in consolidated VIEs

 

$

4,164,229

 

$

4,256,295

 

 

$

4,054,183

 

$

4,099,860

Loans, held for sale, at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

   Originated Residential Agency loans

 

$

213,969

 

$

204,351

 

 

$

136,506

 

$

132,016

   Originated Freddie Mac loans

 

 

79,524

 

 

78,726

 

 

 

21,775

 

 

21,513

   Originated SBA 7(a) loans

 

 

12,324

 

 

11,525

 

 

 

28,551

 

 

26,669

   Acquired loans

 

 

511

 

 

525

 

 

 

1,245

 

 

1,208

Total Loans, held for sale, at fair value

 

$

306,328

 

$

295,127

 

 

$

188,077

 

$

181,406

Loans, held for sale, at fair value in consolidated VIEs

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans, held for sale, at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

   Acquired loans

 

$

4,017

 

$

4,011

 

 

$

4,434

 

$

4,400

Total Loans, held for sale, at fair value in consolidated VIEs

 

$

4,017

 

$

4,011

 

 

$

4,434

 

$

4,400

Total Loans, held for sale, at fair value, and Loans, held for sale, at fair value in consolidated VIEs

 

$

310,345

 

$

299,138

 

 

$

192,511

 

$

185,806

Total Loan portfolio

 

$

4,474,574

 

$

4,555,433

 

 

$

4,246,694

 

$

4,285,666

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of summary of the classification, UPB, and carrying value of loans by year of origination

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

Carrying Value by Year of Origination

    

 

(In Thousands)

    

UPB

 

2020

    

2019

    

2018

    

2017

 

2016

    

Pre 2016

    

Total

March 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans(1) (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Originated Transitional loans

 

$

1,270,771

 

$

192,598

 

$

637,419

 

$

338,373

 

$

64,266

 

$

27,001

 

$

1,104

 

$

1,260,761

   Originated SBC loans

 

 

1,203,566

 

 

71,747

 

 

544,513

 

 

273,536

 

 

131,266

 

 

47,191

 

 

144,564

 

 

1,212,817

   Acquired loans

 

 

1,068,358

 

 

 —

 

 

48,837

 

 

38,872

 

 

29,764

 

 

15,447

 

 

928,731

 

 

1,061,651

   Acquired SBA 7(a) loans

 

 

312,359

 

 

94

 

 

25,941

 

 

19,151

 

 

296

 

 

35

 

 

238,561

 

 

284,078

   Originated SBC loans, at fair value

 

 

19,558

 

 

 —

 

 

 —

 

 

 —

 

 

1,666

 

 

11,807

 

 

6,340

 

 

19,813

   Originated SBA 7(a) loans

 

 

377,570

 

 

9,883

 

 

101,208

 

 

147,629

 

 

80,782

 

 

23,324

 

 

4,603

 

 

367,429

   Originated Residential Agency loans

 

 

4,113

 

 

899

 

 

1,797

 

 

710

 

 

218

 

 

287

 

 

205

 

 

4,116

Total Loans, before general allowance for loans losses

 

$

4,256,295

 

$

275,221

 

$

1,359,715

 

$

818,271

 

$

308,258

 

$

125,092

 

$

1,324,108

 

$

4,210,665

General allowance for loan losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(46,436)

Total Loans, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

4,164,229

(1) Loan balances include specific allowance for loan losses of $11.5 million.

 

 

 

 

 

 

 

 

 

 

(2) Includes Loans, net in consolidated VIEs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of delinquency information on loans by year of origination

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

 

Carrying Value by Year of Origination

    

 

(In Thousands)

    

UPB

 

2020

    

2019

    

2018

    

2017

 

2016

    

Pre 2016

    

Total

March 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans(1) (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Current and less than 30 days past due

 

$

4,086,485

 

$

275,042

 

$

1,351,822

 

$

805,023

 

$

290,520

 

$

89,149

 

$

1,243,278

 

$

4,054,834

  30-89 Days Past Due

 

 

95,211

 

 

179

 

 

4,202

 

 

6,149

 

 

9,704

 

 

18,536

 

 

53,566

 

 

92,336

   90+ Days

 

 

74,599

 

 

 —

 

 

3,691

 

 

7,099

 

 

8,034

 

 

17,407

 

 

27,264

 

 

63,495

Total Loans, before general allowance for loans losses

 

$

4,256,295

 

$

275,221

 

$

1,359,715

 

$

818,271

 

$

308,258

 

$

125,092

 

$

1,324,108

 

$

4,210,665

General allowance for loan losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(46,436)

Total Loans, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

4,164,229

 

 

(1) Loan balances include specific allowance for loan losses of $11.5 million.

(2) Includes Loans, net in consolidated VIEs

 

Schedule of delinquency information on loans, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2020

Loans (In Thousands)

Current and
less than 30 days
past due

30-89 Days
Past Due

90+ Days
Past Due

Total Loans Carrying Value

 

Non-Accrual
Loans

 

90+ Days Past Due but Accruing

Loans(1)(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Originated Transitional loans

$

1,228,782

$

22,089

$

9,890

$

1,260,761

 

$

9,890

 

$

 —

   Originated SBC loans

 

1,184,204

 

11,045

 

17,568

 

1,212,817

 

 

17,568

 

 

 —

   Acquired loans

 

999,330

 

40,759

 

21,562

 

1,061,651

 

 

24,375

 

 

608

   Acquired SBA 7(a) loans

 

267,249

 

11,606

 

5,223

 

284,078

 

 

9,527

 

 

1,315

   Originated SBC loans, at fair value

 

14,317

 

 —

 

5,496

 

19,813

 

 

 —

 

 

5,496

   Originated SBA 7(a) loans

 

359,411

 

6,257

 

1,761

 

367,429

 

 

6,484

 

 

 —

   Originated Residential Agency loans

 

1,541

 

580

 

1,995

 

4,116

 

 

2,575

 

 

 —

Total Loans, before general allowance for loans losses

$

4,054,834

$

92,336

$

63,495

$

4,210,665

 

$

70,419

 

$

7,419

General allowance for loan losses

 

 

 

 

 

 

$

(46,436)

 

 

 

 

 

 

Total Loans, net

 

 

 

 

 

 

$

4,164,229

 

 

 

 

 

 

 Percentage of outstanding

 
96.3%

 
2.2%

 
1.5%

 
100%

 

 
1.7%

 

 
0.2%

(1) Loan balances include specific allowance for loan losses of $11.5 million.

(2) Includes Loans, net in consolidated VIEs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

Loans (In Thousands)

Current and
less than 30 days
past due

30-89 Days
Past Due

90+ Days
Past Due

Total Loans Carrying Value

 

Non-Accrual
Loans

 

90+ Days Past Due but Accruing

Loans(1)(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Originated Transitional loans

$

1,074,955

$

5,728

$

5,645

$

1,086,328

 

$

24,587

 

$

 —

   Originated SBC loans

 

1,137,140

 

15,670

 

16,089

 

1,168,899

 

 

16,089

 

 

 —

   Acquired loans

 

1,032,259

 

45,894

 

16,130

 

1,094,283

 

 

23,500

 

 

3,382

   Acquired SBA 7(a) loans

 

297,172

 

4,646

 

5,042

 

306,860

 

 

9,177

 

 

1,326

   Originated SBC loans, at fair value

 

20,212

 

 —

 

 —

 

20,212

 

 

 —

 

 

 —

   Originated SBA 7(a) loans

 

370,101

 

5,238

 

1,290

 

376,629

 

 

8,882

 

 

 —

   Originated Residential Agency loans

 

582

 

635

 

2,179

 

3,396

 

 

2,105

 

 

74

Total Loans, before allowance for loans losses

$

3,932,421

$

77,811

$

46,375

$

4,056,607

 

$

84,340

 

$

4,782

General allowance for loan losses

 

 

 

 

 

 

$

(2,424)

 

 

 

 

 

 

Total Loans, net

 

 

 

 

 

 

$

4,054,183

 

 

 

 

 

 

 Percentage of outstanding

 
97.0%

 
1.9%

 
1.1%

 
100%

 

 
2.1%

 

 
0.1%

(1) Loan balances include specific allowance for loan losses.

(2) Includes Loans, net in consolidated VIEs

 

Schedule of information on credit quality of loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Loan-to-Value  (a)

 

(In Thousands)

    

0.0 – 20.0%

20.1 – 40.0%

40.1 – 60.0%

60.1 – 80.0%

80.1 – 100.0%

Greater than 100.0%

Total

March 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans(1) (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Originated Transitional loans

 

$

5,564

$

34,044

$

246,284

$

869,073

$

105,043

$

753

$

1,260,761

   Originated SBC loans

 

 

 —

 

63,255

 

472,162

 

650,758

 

18,886

 

7,756

 

1,212,817

   Acquired loans

 

 

223,696

 

401,626

 

242,357

 

130,586

 

47,238

 

16,148

 

1,061,651

   Acquired SBA 7(a) loans

 

 

7,750

 

38,603

 

99,308

 

78,322

 

29,623

 

30,472

 

284,078

   Originated SBC loans, at fair value

 

 

 —

 

8,006

 

 —

 

6,311

 

5,496

 

 —

 

19,813

   Originated SBA 7(a) loans

 

 

1,169

 

14,730

 

46,168

 

139,658

 

61,067

 

104,637

 

367,429

   Originated Residential Agency loans

 

 

 —

 

51

 

91

 

1,030

 

2,668

 

276

 

4,116

Total Loans, before general allowance for loans losses

 

$

238,179

$

560,315

$

1,106,370

$

1,875,738

$

270,021

$

160,042

$

4,210,665

General allowance for loan losses

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(46,436)

Total Loans, net

 

 

 

 

 

 

 

 

 

 

 

 

 

$

4,164,229

Percentage of outstanding

 

 

5.7

%

13.3

%

26.3

%

44.5

%

6.4

%

3.8

%

 

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans(1) (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Originated Transitional loans

 

$

1,736

$

28,108

$

277,388

$

750,298

$

28,059

$

739

$

1,086,328

   Originated SBC loans

 

 

 —

 

60,601

 

431,312

 

660,733

 

8,045

 

8,208

 

1,168,899

   Acquired loans

 

 

218,679

 

371,471

 

293,216

 

161,431

 

35,731

 

13,755

 

1,094,283

   Acquired SBA 7(a) loans

 

 

7,712

 

39,566

 

103,590

 

83,954

 

39,726

 

32,312

 

306,860

   Originated SBC loans, at fair value

 

 

 —

 

8,192

 

 —

 

6,422

 

5,598

 

 —

 

20,212

   Originated SBA 7(a) loans

 

 

865

 

13,843

 

41,166

 

130,177

 

78,544

 

112,034

 

376,629

   Originated Residential Agency loans

 

 

 —

 

51

 

 —

 

830

 

2,393

 

122

 

3,396

Total Loans, before allowance for loans losses

 

$

228,992

$

521,832

$

1,146,672

$

1,793,845

$

198,096

$

167,170

$

4,056,607

General allowance for loan losses

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(2,424)

Total Loans, net

 

 

 

 

 

 

 

 

 

 

 

 

 

$

4,054,183

Percentage of outstanding

 

 

5.6

%

12.9

%

28.3

%

44.2

%

4.9

%

4.1

%

 

(a) Loan-to-value is calculated as carrying amount as a percentage of current collateral value

(1) Loan balances include specific allowance for loan loss reserves.

(2) Includes Loans, net in consolidated VIEs

 

Schedule of activity of the allowance for loan losses for loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2020

(In Thousands)

Originated
SBC loans

Originated Transitional loans

Acquired
loans

Acquired
SBA 7(a) loans

Originated
SBA 7(a) loans

Total Allowance for
loan losses

Beginning balance

$

304

$

188

$

3,054

$

2,114

$

1,781

$

7,441

Cumulative-effect adjustment upon adoption of ASU 2016-13

 

2,400

 

1,906

 

1,878

 

3,562

 

1,379

 

11,125

Provision for (recoveries of) loan losses

 

7,658

 

22,170

 

5,722

 

12

 

4,242

 

39,804

Charge-offs and sales

 

 -

 

 -

 

(8)

 

(131)

 

(329)

 

(468)

Recoveries

 

 -

 

 -

 

 -

 

65

 

 1

 

66

Ending balance

$

10,362

$

24,264

$

10,646

$

5,622

$

7,074

$

57,968

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2019

(In Thousands)

Originated
SBC loans

Originated Transitional loans

Acquired
loans

Acquired
SBA 7(a) loans

Originated
SBA 7(a) loans

Total Allowance for
loan losses

Beginning balance

$

11

$

353

$

5,052

$

2,318

$

586

$

8,320

Provision for (recoveries of) loan losses

 

(11)

 

(131)

 

235

 

271

 

154

 

518

Charge-offs and sales

 

 -

 

 -

 

 -

 

(329)

 

 -

 

(329)

Recoveries

 

 -

 

 -

 

(246)

 

14

 

 -

 

(232)

Ending balance

$

 -

$

222

$

5,041

$

2,274

$

740

$

8,277

 

Schedule of non-accrual loans

 

 

 

 

 

 

(In Thousands)

March 31, 2020

 

December 31, 2019

Non-accrual loans

 

 

 

 

 

  With an allowance

$

25,914

 

$

18,063

  Without an allowance

 

44,505

 

 

60,036

Total recorded carrying value of non-accrual loans

$

70,419

 

$

78,099

Allowance for loan losses related to non-accrual loans

$

(10,916)

 

$

(2,093)

Unpaid principal balance of non-accrual loans

$

88,596

 

$

83,991

 

 

 

 

 

 

 

March 31, 2020

 

March 31, 2019

Interest income on non-accrual loans for the three months ended

$

157

 

$

12

 

 

 

 

 

 

 

Schedule of recorded investment of TDRs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2020

 

December 31, 2019

(In Thousands)

SBC

 

SBA

 

Total

 

SBC

 

SBA

 

Total

Recorded carrying value modified loans classified as TDRs

$

2,161

 

$

13,221

 

$

15,382

 

$

6,258

 

$

14,204

 

$

20,462

Allowance for loan losses on loans classified as TDRs

$

15

 

$

3,825

 

$

3,840

 

$

274

 

$

454

 

$

728

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrying value of modified loans classified as TDRs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrying value of modified loans classified as TDRs on accrual status

$

247

 

$

6,813

 

$

7,060

 

$

333

 

$

7,437

 

$

7,770

Carrying value of modified loans classified as TDRs on non-accrual status

 

1,914

 

 

6,408

 

 

8,322

 

 

5,925

 

 

6,767

 

 

12,692

Total carrying value of modified loans classified as TDRs

$

2,161

 

$

13,221

 

$

15,382

 

$

6,258

 

$

14,204

 

$

20,462

 

Schedule of TDR modifications by primary modification type and related financial effects

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2020

 

Three Months Ended March 31, 2019

(In Thousands, except number of loans)

SBC

 

SBA

 

Total

 

SBC

 

SBA

 

Total

Number of loans permanently modified

 

 1

 

 

 7

 

 

 8

 

 

 1

 

 

 9

 

 

10

Pre-modification recorded balance (a)

$

151

 

$

2,767

 

$

2,918

 

$

103

 

$

1,265

 

$

1,368

Post-modification recorded balance (a)

$

151

 

 

2,769

 

$

2,920

 

$

103

 

$

1,250

 

$

1,353

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of loans that remain in default as of March 31, 2020 (b)

 

 1

 

 

 3

 

 

 4

 

 

 1

 

 

 1

 

 

 2

Balance of loans that remain in default as of March 31, 2020 (b)

$

151

 

$

160

 

$

311

 

$

103

 

$

55

 

$

158

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Concession granted (a):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Term extension

$

 -

 

$

1,564

 

$

1,564

 

$

 -

 

$

1,187

 

$

1,187

Interest rate reduction

 

 -

 

 

 -

 

 

 -

 

 

103

 

 

 -

 

 

103

Principal reduction

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

Foreclosure

 

151

 

 

152

 

 

303

 

 

 -

 

 

55

 

 

55

  Total

$

151

 

$

1,716

 

$

1,867

 

$

103

 

$

1,242

 

$

1,345

(a) Represents carrying value.

(b) Represents the March 31, 2020 carrying values of the TDRs that occurred during the three months ended March 31, 2020 and 2019 that remained in default as of March 31, 2020. Generally, all loans modified in a TDR are placed or remain on non-accrual status at the time of the restructuring. However, certain accruing loans modified in a TDR that are current at the time of restructuring may remain on accrual status if payment in full under the restructured terms is expected.  For purposes of this schedule, a loan is considered in default if it is 30 or more days past due.

 

Geographical concentration  
Schedule of concentration risk of loans secured by real estate

 

 

 

 

 

 

 

Geographic Concentration (% of Unpaid Principal Balance)

    

March 31, 2020

    

 

December 31, 2019

 

California

 

17.7

%  

 

16.9

%

Texas

 

15.2

 

 

15.2

 

New York

 

8.4

 

 

8.3

 

Florida

 

8.1

 

 

8.3

 

Illinois

 

5.3

 

 

5.2

 

Georgia

 

4.6

 

 

4.8

 

Arizona

 

3.4

 

 

3.4

 

North Carolina

 

3.2

 

 

3.2

 

Washington

 

2.9

 

 

2.8

 

Colorado

 

2.6

 

 

2.8

 

Other

 

28.6

 

 

29.1

 

Total

 

100.0

%  

 

100.0

%

 

Collateral concentration  
Schedule of concentration risk of loans secured by real estate

The following table displays the collateral type concentration of the Company’s loans, net, on our unaudited interim consolidated balance sheets.

 

 

 

 

 

 

 

 

Collateral Concentration (% of Unpaid Principal Balance)

    

March 31, 2020

    

 

December 31, 2019

 

Multi-family

    

26.6

%  

 

26.6

%

Retail

 

17.4

 

 

17.5

 

SBA(1) 

 

16.2

 

 

17.6

 

Office

 

12.2

 

 

12.9

 

Mixed Use

 

12.0

 

 

10.4

 

Industrial

 

7.0

 

 

6.4

 

Lodging/Residential

 

3.2

 

 

3.3

 

Other

 

5.4

 

 

5.3

 

Total

 

100.0

%  

 

100.0

%

(1) Further detail provided on SBA collateral concentration is included in table below.

 

 

 

 

 

 

 

The following table displays the collateral type concentration of the Company’s SBA loans within loans, net, on our unaudited interim consolidated balance sheets.

 

 

 

 

 

 

 

 

Collateral Concentration (% of Unpaid Principal Balance)

    

March 31, 2020

    

 

December 31, 2019

 

Lodging

 

19.4

%  

 

17.3

%

Offices of Physicians

 

13.9

 

 

14.1

 

Child Day Care Services

    

7.6

 

 

8.1

 

Eating Places

 

6.3

 

 

6.1

 

Veterinarians

 

3.9

 

 

4.1

 

Gasoline Service Stations

 

3.8

 

 

3.7

 

Funeral Service & Crematories

 

2.1

 

 

2.0

 

Grocery Stores

 

2.1

 

 

2.0

 

Auto

 

1.2

 

 

1.3

 

Other

 

39.7

 

 

41.3

 

Total

 

100.0

%  

 

100.0

%