Guaranteed loan financing

3 Months Ended

Mar. 31, 2021

Guaranteed loan financing.

Guaranteed loan financing

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 in the consolidated balance sheets and the portion sold is recorded as guaranteed loan financing in the liabilities section of the 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 consolidated statements of income.

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

	Weighted Average		Range of		Range of
(In Thousands)	Interest Rate		Interest Rates		Maturities (Years)	Ending Balance
March 31, 2021	3.78	%	0.99 - 6.50	%	2021 - 2044	$	386,036
December 31, 2020	3.76	%	0.99 - 6.50	%	2021 - 2044	$	401,705

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

(In Thousands)	March 31, 2021
2021		212
2022		1,257
2023		1,998
2024		3,242
2025		3,410
Thereafter		375,917
Total	$	386,036

Our guaranteed loan financings are secured by loans of $387.2 million and $403.0 million as of March 31, 2021 and December 31, 2020, respectively.