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Loan Fees
9 Months Ended
Sep. 30, 2013
Text Block [Abstract]  
Loan Fees

Note D - Loan Fees

During the first quarter of 2013, renewal fees in the amount of $12,269 were incurred in connection with the Regions letter of credit (See Note E - Letter and Line of Credit). As of September 30, 2013 and December 31, 2012, total loan fees were $20,821 and $20,856, respectively. These fees were amortized based on the life of the loans and written off upon completion. Amortization expense for the three months ended September 30, 2013 and 2012 was $3,264 and $3,272, respectively and for the nine months ended September 30, 2013 and 2012 was $11,838 and $11,851, respectively.