Annual report pursuant to Section 13 and 15(d)

Long-Term Borrowings (Tables)

v3.3.1.900
Long-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Long-Term Borrowings

Long-term borrowings at December 31, 2015 and 2014 is as follows (in thousands):

 

 

 

2015

 

 

2014

 

Note payable to banks, due in monthly installments of $261.4

   (includes principal and interest), variable-rate interest at

    2.42% per annum, secured by property, balloon payment of

   $62,843 due August 2020

 

$

69,515

 

 

$

77,900

 

Note payable to banks, due in monthly installments of $531.4

   (includes principal and interest), fixed-rate interest at 3.54%

   per annum, secured by property, balloon payment of $12,635

   paid in December 2015

 

 

—

 

 

 

17,940

 

Note payable to banks, due in monthly installments of $483.9

   (includes principal and interest), fixed-rate interest at 3.19%

   per annum, secured by property, balloon payment of $11,670

   due June 2016

 

 

13,886

 

 

 

19,159

 

Note payable to TCF Equipment Finance, Inc., due in monthly

   installments of $30.5, (includes principal and interest) fixed-

   rate interest at 5.24% per annum, maturity date of July 2019

 

 

1,194

 

 

 

1,489

 

Subtotal

 

 

84,595

 

 

 

116,488

 

Less current installments

 

 

15,653

 

 

 

101,407

 

Total long-term borrowings

 

$

68,942

 

 

$

15,081

 

 
Aggregate Maturities of Long-Term Borrowings

The aggregate maturities of long-term borrowings at December 31, 2015 are as follows (in thousands):

 

2016

 

 

15,653

 

2017

 

 

1,783

 

2018

 

 

1,801

 

2019

 

 

1,666

 

2020

 

 

63,692

 

 

 

$

84,595