Annual report pursuant to Section 13 and 15(d)

Long-Term Borrowings (Tables)

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Long-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Long-Term Borrowings

Long-term borrowings at December 31, 2013 and 2012 is as follows (in thousands):

 

     2013      2012  

Note payable to bank, due in monthly installments of $350.0 (includes principal and interest), variable rate interest at 3.92%, secured by property, balloon payment of $76,976 due November 2015

    $ 78,908       $ 79,916   

Note payable to bank, due in monthly installments of $531.4 (includes principal and interest), fixed rate interest at 3.54%, secured by property, balloon payment of $12,635 due December 2015

      23,573         29,010   

Note payable to bank, due in monthly installments of $483.9 (includes principal and interest), fixed rate interest at 3.19%, secured by property, balloon payment of $11,670 due June 2016

      24,265         29,213   

Note payable to TCF Equipment Finance, Inc., due in monthly installments of $30.5 (includes principal and interest), fixed rate interest at 5.24%, maturity date of July 2019

      1,770         2,036   

Capital lease obligations

      0         10   
  

 

 

     

 

 

  

Subtotal

      128,516         140,185   

Less current installments

      12,028         11,668   
  

 

 

     

 

 

  

Total long-term borrowings

    $ 116,488       $ 128,517   
  

 

 

     

 

 

  
Aggregate Maturities of Long-Term Borrowings

The aggregate maturities of long-term borrowings at December 31, 2013 are as follows:

 

2014

    $ 12,028   

2015

      101,407   

2016

      14,198   

2017

      328   

2018

      345   

Thereafter

      210   
  

 

 

  
   $ 128,516