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)
9 Months Ended
Sep. 30, 2014
Debt Disclosure [Abstract]  
Long-Term Borrowings

Long-term borrowings are as follows (in thousands):

 

     September 30,
2014
     December 31,
2013
 

Note payable to banks, due in monthly installments of $338.4 (includes principal and interest), variable-rate interest at 3.90% per annum, secured by property, balloon payment of $77,060 due October 2015

   $ 78,152       $ 78,908   

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 due December 2015

     19,367         23,573   

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

     20,451         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% per annum, maturity date of July 2019

     1,560         1,770   
  

 

 

    

 

 

 

Subtotal

     119,530         128,516   

Less current installments

     12,314         12,028   
  

 

 

    

 

 

 

Total long-term borrowings

   $ 107,216       $ 116,488