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Interest Rate Swap Agreements (Tables)
3 Months Ended
Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of notional amounts of interest rate swaps
     Three months ended June 30,  
     2014      2013  

Notional amounts at April 1

   $ 50,000,000       $ 50,000,000   

New contracts

     —           —     

Matured contracts

     —           —     
  

 

 

    

 

 

 

Notional amounts at June 30

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

 

 

    

 

 

 
Schedule of locations and amounts of (gains) losses recognized in income
     Three months ended
June 30,
 
     2014      2013  

Periodic change in fair value of interest rate swap agreements

   $ 212,287       $ (833,259

Periodic settlement differentials included in interest expense

     98,992         93,314   
  

 

 

    

 

 

 

Total

   $ 311,279       $ (739,945
  

 

 

    

 

 

 
Schedule of variable rates received and average fixed rates paid under the swap agreements
     Three months ended
June 30,
 
     2014     2013  

Variable rate received

     0.15     0.20

Fixed rate paid

     0.94     0.94