Note 13 - Other Assets

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Other Assets Disclosure [Text Block]

13.  Other Assets:

Assets Held-For-Sale

At December 31, 2021, the Company had a property and land parcel classified as held-for-sale at a net carrying amount of $13.7 million.

Mortgages and Other Financing Receivables

The Company has various mortgages and other financing receivables which consist of loans acquired and loans originated by the Company. For a complete listing of the Company’s mortgages and other financing receivables at December 31, 2021, see Financial Statement Schedule IV included in this annual report on Form 10-K.

The following table reconciles mortgage loans and other financing receivables from January 1, 2019 to December 31, 2021 (in thousands):

	2021			2020			2019
Balance at January 1,	$	32,246		$	7,829		$	14,448
Additions:
New mortgage and other loans (1)		55,307			25,500			3,750
Additions under existing mortgage loans		-			-			48
Amortization of loan discounts		-			-			33
Deductions:
Loan repayments		(13,646	)		(25	)		(10,136	)
Collections of principal		(130	)		(152	)		(313	)
Allowance for credit losses		(370	)		(906	)		-
Other adjustments		(305	)		-			(1	)
Balance at December 31,	$	73,102		$	32,246		$	7,829

(1) During 2021, the Company acquired $13.4 million of mortgage loan receivables in connection with the Merger.

The Company reviews payment status to identify performing versus non-performing loans. As of December 31, 2021, the Company had a total of 11 loans, of which 10 were performing loans and one is non-performing.