Note 5. Debt:

Information on our debt was as follows:


					Weighted Average Coupon Rate at
	June 30, 2013		December 31, 2012		June 30, 2013			December 31, 2012
	(Dollars in thousands, except footnotes)

Secured borrowings - government guaranteed loans:
Loans sold for a premium and excess spread - principal	$	30,802	$	32,062		4.09	%		4.09	%
Loans sold for a premium and excess spread - deferred premiums		2,960		3,099		NA			NA
Loans sold for excess spread		5,783		5,847		1.58	%		1.58	%

		39,545		41,008

Junior subordinated notes		27,070		27,070		3.53	%		3.61	%
Debentures payable (1)		23,190		17,190		4.06	%		4.47	%
Revolving credit facility (2)		12,000		11,900		2.61	%		2.30	%

Debt	$	101,805	$	97,168

(1)

Our SBIC subsidiaries issued a total of $6.0 million of debentures in March 2013 at an interest rate of 2.351% plus an annual fee of 0.515%. The debentures mature in 10 years and have semi-annual interest only payments until maturity.

(2)

Proceeds on the revolving credit facility were $27,200,000 and $20,600,000 during the six months ended June 30, 2013 and 2012, respectively. Repayments on the revolving credit facility were $27,100,000 and $17,400,000 during the six months ended June 30, 2013 and 2012, respectively.

Principal payments on, and estimated amortization of, our debt at June 30, 2013 was as follows:


Twelve Months Ending June 30,			Secured Borrowings
Twelve Months Ending June 30,	Total		Principal (1)		Deferred Premiums (2)		All Other Debt (3)
	(In thousands)
2014	$	18,619	$	2,176	$	253	$	16,190
2015		5,244		1,098		146		4,000
2016		1,281		1,135		146		—
2017		1,322		1,176		146		—
2018		1,365		1,219		146		—
Thereafter		73,974		29,781		2,123		42,070

	$	101,805	$	36,585	$	2,960	$	62,260

(1)

Principal payments are generally dependent upon cash flows received from the underlying loans. Our estimate of their repayment is based on scheduled principal payments on the underlying loans. Our estimate will differ from actual amounts to the extent we experience prepayments and/or loan liquidations or charge-offs. No payment is due unless payments are received from the borrowers on the underlying loans.

(2)

Represents cash premiums collected on loans sold for excess spread and a cash premium of 10% which are amortized as a reduction to interest expense over the life of the loan. Our estimate of their amortization will differ from actual amounts to the extent we experience prepayments and/or loan liquidations or charge-offs.

(3)

Represents the revolving credit facility, junior subordinated notes and debentures payable.