XML 27 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
Interest Rate Swap Agreements (Tables)
 12 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of notional amounts of interest rate swaps
     2014      2013  

Notional amounts at beginning of year

    $ 50,000,000      $ —     

New contracts

      —           50,000,000   

Matured contracts

      —           —     
  

 

 

     

 

 

  

Notional amounts at end of year

    $ 50,000,000       $ 50,000,000   
  

 

 

     

 

 

  
Schedule of locations and amounts of (gains) losses recognized in income
     2014     2013  

Periodic change in fair value of interest rate swap agreements

    $ 688,455      $ (504,852 ) 

Periodic settlement differentials included in interest expense

      (383,028 )      (277,364 ) 
  

 

 

    

 

 

  

Loss recognized in income

    $ 305,427      $ (782,216 ) 
  

 

 

    

 

 

  
Schedule of variable rates received and average fixed rates paid under the swap agreements
     2014     2013  

Average variable rate received

      0.18 %      0.22 % 

Average fixed rate paid

      0.94 %      0.94 %