Receivables from and Payables to Others

6 Months Ended

Jun. 30, 2011

Receivables from and Payables to Others

Receivables from and Payables to Others

7. Receivables from and Payables to Others

Amounts Receivable from and Payable to others consist of the following:

(In thousands of dollars)	June 30, 2011		December 31, 2010
Interest receivable	$	6,332	$	7,131
Principal paydowns — Agency mortgage-backed securities	5,404		1,052
Loan receivable	2,958		—
Investment banking and advisory fees receivable	1,612		7,755
Loans and advances	703		1,007
Former stockholder of ClearPoint	401		—
Management fees receivable	137		119
Others	913		1,219
Total receivables from others	$	18,460	$	18,283
Payable to employees for the Employee Investment Funds (see Note 10)	$	981	$	1,007
Reserve for loan repurchases - ClearPoint	472		—
Customer deposits held in escrow - ClearPoint	400		—
Draft payables	80		978
Others	831		362
Total payables to others	$	2,764	$	2,347

The loan receivable represents the purchase of a floating rate mezzanine loan during the six months ended June 30, 2011, which is collateralized by commercial real estate and matures on October 1, 2011.

In connection with the Company’s acquisition of ClearPoint on January 3, 2011 the Company is indemnified for certain matters, including losses resulting from any loan losses with respect to any loans presented to ClearPoint or originated on or prior to January 3, 2011.  The Company’s receivable for this indemnification claim at June 30, 2011 was approximately $0.4 million.

The Company maintains a group of “zero balance” bank accounts which are included in Payable to others in the Consolidated Statements of Financial Condition.  Drafts payable represent the balance in these accounts related to outstanding checks that have not yet been presented for payment at the bank.  The Company has sufficient funds on deposit to clear these checks, and these funds will be transferred to the “zero-balance” accounts upon presentment.