Mountain Commerce Bancorp (Mountain Commerce Bancorp) Long-Term Capital Lease Obligation : $0.00 Mil (As of Jun. 2023)

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What is Mountain Commerce Bancorp Long-Term Capital Lease Obligation?

Mountain Commerce Bancorp's Long-Term Capital Lease Obligation for the quarter that ended in Jun. 2023 was $0.00 Mil.

Mountain Commerce Bancorp Long-Term Capital Lease Obligation Historical Data

The historical data trend for Mountain Commerce Bancorp'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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Mountain Commerce Bancorp Long-Term Capital Lease Obligation Chart

Mountain Commerce Bancorp Annual Data

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Long-Term Capital Lease Obligation

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Mountain Commerce Bancorp Quarterly Data
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Mountain Commerce Bancorp (OTCPK:MCBI) 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.

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Mountain Commerce Bancorp (Mountain Commerce Bancorp) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Mountain Commerce Bancorp Inc (OTCPK:MCBI) » Definitions » Long-Term Capital Lease Obligation

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Address

6101 Kingston Pike, P.O. Box 52942, Knoxville, TN, USA, 37919

Website

https://www.mcb.com

Mountain Commerce Bancorp Inc operates as a bank holding company. It offers personal and business banking services. The bank offers checking and savings accounts; certificates of deposit; and loans and lines of credit, such as mortgage loans, personal loans and lines of credit, commercial real estate lending, small business administration loans, equipment lending, operating lines of credit, and credit cards. Its primary lending products are one-to-four family residential, commercial real estate, commercial and industrial, and consumer lending.