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Commercial Loans (Tables)

6 Months Ended

Jun. 30, 2015

Accounts, Notes, Loans and Financing Receivable [Line Items]

Commercial Loans Held-for-Investment by Risk Category

The following table presents the principal balance of commercial loans held-for-investment by risk category.



(In Thousands)	June 30, 2015		December 31, 2014
Pass	$	302,075	$	316,122
Watch list	25,517		25,628
Total Commercial Loans Held-for-Investment	$	327,592	$	341,750

Commercial Loans

Accounts, Notes, Loans and Financing Receivable [Line Items]

Summary of Classifications and Carrying Value of Loans

The following table summarizes the classifications and carrying value of commercial loans at June 30, 2015 and December 31, 2014.



(In Thousands)	June 30, 2015		December 31, 2014
Held-for-sale, at fair value	$	165,853	$	166,234
Held-for-investment
At fair value	69,763		71,262
At amortized cost	315,715		329,431
Total Commercial Loans	$	551,331	$	566,927

Carrying Value for Loans Held-for-Investment

The following table provides additional information for our commercial loans held-for-investment at amortized cost at June 30, 2015 and December 31, 2014.



(In Thousands)	June 30, 2015			December 31, 2014
Principal balance	$	327,592		$	341,750
Unamortized discount, net	(4,476		)	(4,862		)
Recorded investment	323,116			336,888
Allowance for loan losses	(7,401		)	(7,457		)
Carrying Value	$	315,715		$	329,431

Summary of Activity in Allowance for Loans Losses

The following table summarizes the activity in the allowance for commercial loan losses for the three and six months ended June 30, 2015 and 2014.



	Three Months Ended June 30,					Six Months Ended June 30,
(In Thousands)	2015			2014		2015			2014
Balance at beginning of period	$	7,662		$	8,028	$	7,456		$	7,373
Charge-offs, net	—			—		—			—
(Reversal of) provision for loan losses	(261		)	289		(55		)	944
Balance at End of Period	$	7,401		$	8,317	$	7,401		$	8,317

Collectively Evaluated for Impairment | Commercial Loans

Accounts, Notes, Loans and Financing Receivable [Line Items]

Loans Evaluated for Impairment

The following table summarizes the balances for loans collectively evaluated for impairment at June 30, 2015 and December 31, 2014.



(In Thousands)	June 30, 2015		December 31, 2014
Principal balance	$	327,592	$	341,750
Recorded investment	323,116		336,888
Related allowance	7,401		7,457