Note 6 - Investments

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Investment Holdings [Text Block]

6. Investments

Investments consist of the following (in thousands) as of:

	December 31,
	201 9		201 8
Investment in CoBank stock	$	1,192	$	1,192
Rental property		194		219
Other miscellaneous		91		87
	$	1,477	$	1,498

The investment in CoBank stock is carried at historical cost due to

no

readily determinable fair value for those instruments being available. Management believes there has been

no

other than temporary impairment in such investment. This investment consists of patronage certificates that represent ownership in the financial institution where the Company previously had and currently has debt. These certificates yield dividends on an annual basis, and the investment is redeemed ratably subsequent to the repayment of the debt. The Company purchased a

two

year interest rate cap associated with the New Credit Facility and it had a value of

$4

thousand as of

December 31, 2018.

The interest rate cap expires

February 26, 2020

and has a value of

zero

as of

December 31, 2019.