Notes Receivable

3 Months Ended

Mar. 31, 2021

7. Notes Receivable

The Company has unsecured notes receivable from related parties, certain non-executive officers of the Company and an unrelated third party. This balance is included as a part of other assets on the accompanying combined balance sheets. The following is a summary of these notes receivable (in thousands):

	March 31, 2021			December 31, 2020
Officers, employees and affiliated entities - Interest accrues annually at rates ranging from 3.25% - 5.5%. The notes receivable mature through December 2021.	$	2,405		$	2,479
Unrelated third party - Currently no interest is being accrued on this note. The note receivable matures in December 2023.		903			903
Total:		3,308			3,382
Less: current portion
Officers, employees and affiliates		(1,116	)		(1,182	)
Unrelated third party		-			-
Noncurrent portion	$	2,192		$	2,200

Each borrower may prepay all or part of the outstanding balance at any time prior to the date of maturity. During the three months ended March 31, 2021, interest accrued on the notes receivable at the stipulated rates between 3.25% and 5.50%.