First United (First United) Long-Term Capital Lease Obligation : $1.48 Mil (As of Mar. 2024)

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What is First United Long-Term Capital Lease Obligation?

First United's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $1.48 Mil.

First United's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 ($2.35 Mil) to Dec. 2023 ($1.56 Mil) and declined from Dec. 2023 ($1.56 Mil) to Mar. 2024 ($1.48 Mil).

First United's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($2.76 Mil) to Dec. 2022 ($2.37 Mil) and declined from Dec. 2022 ($2.37 Mil) to Dec. 2023 ($1.56 Mil).

First United Long-Term Capital Lease Obligation Historical Data

The historical data trend for First United's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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First United Long-Term Capital Lease Obligation Chart

First United Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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3.24

2.96

2.76

2.37

1.56

First United Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															2.54	2.44	2.35	1.56	1.48

First United (NAS:FUNC) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

First United Long-Term Capital Lease Obligation Related Terms

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First United (First United) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First United Corp (NAS:FUNC) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

FU3:Germany

Address

19 South Second Street, Oakland, MD, USA, 21550-0009

Website

https://www.mybank.com

First United Corp is active in the financial services domain. The scope of its offering includes checking, savings, money market deposit accounts and certificates of deposit, business loans, personal loans, mortgage loans and lines of credit extended to both individuals and businesses. In addition, it provides safe deposit and night depository facilities, insurance products and trust services. The bank also provides residential real estate construction loans to builders and individuals for single-family dwellings.

Executives

Marisa A. Shockley	director	19 S. SECOND STREET, OAKLAND MD 21550
Carissa Lynn Rodeheaver	officer: Chief Financial Officer	19 SOUTH SECOND STREET, OAKLAND MD 21550
Brian R. Boal	director	19 S. SECOND STREET, OAKLAND MD 21550
Jason Barry Rush	officer: VP and Director of Operations	19 SOUTH SECOND STREET, OAKLAND MD 21550
Kevin Hessler	director	19 S. SECOND STREET, OAKLAND MD 21550
John Mccullough	director	19 SOUTH SECOND STREET, OAKLAND MD 21550
Beth Moran	director	19 S. SECOND STREET, OAKLAND MD 21550
Irvin Robert Rudy	director	121 NORTH SECOND ST, OAKLAND MD 21550
John F. Barr	director	19 S. SECOND STREET, OAKLAND MD 21550
Christy Dipietro	director	19 S. SECOND STREET, OAKLAND MD 21550
Patricia Milon	director	19 S SECOND STREET, OAKLAND MD 21550
Gary Ruddell	director	19 SOUTH SECOND STREET, OAKLAND MD 21550
Sanu Chadha	director	19 S. SECOND STREET, OAKLAND MD 21550
M Kathryn Burkey	director	P.O. BOX 9, 19 SOUTH SECOND STREET, OAKLAND MD 21550
Elaine L Mcdonald	director	672 WHITE OAK DR, SWANTON MD 21561