Corporate Borrowings (Tables)

9 Months Ended

Sep. 30, 2020

The following table presents the Company’s outstanding indebtedness:


Description(a)	September 30, 2020		December 31, 2019
Credit Agreement - Revolver, 1.16% (variable rate) due 2025	$	15,000	$	—
Previous Credit Agreement - Revolver, 3.19% (variable rate) due 2022	—		300
Secured Promissory Note, 3.71% (fixed rate) due 2022	909		1,208
Prudential Note Purchase Agreement, 3.53% (fixed rate) due 2027	20,000		20,000
Prudential Note Purchase Agreement, 3.80% (fixed rate) due 2029	20,000		20,000
Total indebtedness outstanding	55,909		41,508
Less unamortized loan fees(b)	(1,401)		(448)
Total indebtedness outstanding, net	54,508		41,060
Less current maturities of long-term debt	(412)		(401)
Long-term debt and Credit Agreement - Revolver	$	54,096	$	40,659

(a) Interest rates are as of September 30, 2020, except for the Previous Credit Agreement which is as of December 31, 2019.

(b) Loan fees are being amortized over the life of the Credit Agreement and Note Purchase Agreement.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details