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Long-Term Debt
3 Months Ended
Mar. 31, 2012
Long-Term Debt [Abstract]  
Long-Term Debt

Note 5 – Long-term debt:

 

     December 31,
2011
     March 31,
2012
 
     (In thousands)  

Revolving bank credit facility

   $ 1,955       $ 2,003   

Promissory note payable to affiliate

     22,230         21,230   
  

 

 

    

 

 

 

Total debt

     24,185         23,233   

Less current maturities

     1,000         1,000   
  

 

 

    

 

 

 

Total long-term debt

   $ 23,185       $ 22,233   
  

 

 

    

 

 

 

During the first quarter of 2012, we prepaid $1.0 million of principal on the promissory note payable to affiliate. The average interest rates on the promissory note and the revolving bank credit facility for the first quarter of 2012 were 1.6% and 3.4%, respectively.