Quarterly report pursuant to Section 13 or 15(d)

Line of Credit, Short-Term and Long-Term Borrowings (Tables)

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Line of Credit, Short-Term and Long-Term Borrowings (Tables)
3 Months Ended
Mar. 31, 2014
Debt Disclosure [Abstract]  
Long-Term Debt

Long-term debt is as follows (in thousands):

 

     March 31,
2014
     December 31,
2013
 

Note payable to banks, due in monthly installments of $348.7 (includes principal and interest), variable rate interest at 3.90%, secured by property, balloon payment of $76,976 due November 2015

   $ 78,656       $ 78,908   

Note payable to banks, 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

     22,183         23,573   

Note payable to banks, 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

     23,005         24,265   

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

     1,701         1,770   
  

 

 

    

 

 

 

Subtotal

     125,545         128,516   

Less: current installments

     12,123         12,028   
  

 

 

    

 

 

 

Total long-term debt

   $ 113,422       $ 116,488