Quarterly report pursuant to Section 13 or 15(d)

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

v3.5.0.2
Line of Credit, Short-Term and Long-Term Borrowings (Tables)
 9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]  
Long-Term Borrowings

Long-term borrowings at September 30, 2016 and December 31, 2015 are as follows (in thousands):

 

 

 

2016

 

 

2015

 

Note payable to banks, due in monthly installments of $121.3

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

    2.52% per annum, secured by property, balloon payment of

   $62,843 due August 2020

 

$

68,423

 

 

$

69,515

 

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

   paid in June 2016

 

 

—

 

 

 

13,886

 

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

 

 

962

 

 

 

1,194

 

Subtotal

 

 

69,385

 

 

 

84,595

 

Less current installments

 

 

1,779

 

 

 

15,653

 

Total long-term borrowings

 

$

67,606

 

 

$

68,942