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Debt (Tables)
3 Months Ended
Mar. 31, 2014
Debt

The following table presents the Company’s debt as of March 31, 2014 and December 31, 2013:

 

 

 

March 31,

 

 

December 31,

 

(Dollars in thousands, except original loan amounts)

 

2014

 

 

2013

 

Line of credit

 

$

2,000

 

 

$

500

 

 

 

 

 

 

 

 

 

 

Long-term debt:

 

 

 

 

 

 

 

 

$8.0 million term loan issued at par in September 2011; variable interest rate at

   a base rate plus 1.00%; due September 29, 2016

 

$

5,400

 

 

$

5,700

 

$11.5 million term loan issued at par in December 2013; fixed interest rate at 5.0%;

   due December 31, 2018

 

 

10,925

 

 

 

11,500

 

Long-term debt, including amounts due within one year

 

 

16,325

 

 

 

17,200

 

Less: Amounts due within one year

 

 

(3,700

)

 

 

(3,600

)

Long-term debt

 

$

12,625

 

 

$

13,600