Note 14 - Other Borrowings

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Debt Disclosure [Text Block]

(

1

4

)

Other Borrowings

On

December 15, 2014,

the Company entered into a Loan Agreement with an unrelated

third

party, providing for a term loan of up to

$10.0

million that was evidenced by a promissory note (the Note) with an interest rate of

6.50%

per annum. The principal balance of the loan is payable in consecutive equal annual installments of

$1.0

million on each anniversary of the date of the Loan Agreement, commencing on

December 15, 2015,

with the balance due on

December 15, 2021.

The Company had the option to voluntarily prepay the Note in whole or in part without penalty. The Company made the scheduled

$1.0

million principal payment on

December 15, 2015,

a

$2.0

million payment on

December 15, 2016,

and on

August 31, 2017

paid off the remaining principal balance of

$7.0

million. There was

no

outstanding loan balance at

March 31, 2018

and the loan balance was

$7.0

million at

March 31, 2017.