University Bancorp (University Bancorp) Long-Term Capital Lease Obligation : $3.06 Mil (As of Dec. 2022)

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What is University Bancorp Long-Term Capital Lease Obligation?

University Bancorp's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2022 was $3.06 Mil.

University Bancorp's quarterly Long-Term Capital Lease Obligation declined from Dec. 2020 ($4.48 Mil) to Dec. 2021 ($4.12 Mil) and declined from Dec. 2021 ($4.12 Mil) to Dec. 2022 ($3.06 Mil).

University Bancorp's annual Long-Term Capital Lease Obligation declined from Dec. 2020 ($4.48 Mil) to Dec. 2021 ($4.12 Mil) and declined from Dec. 2021 ($4.12 Mil) to Dec. 2022 ($3.06 Mil).

University Bancorp Long-Term Capital Lease Obligation Historical Data

The historical data trend for University 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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University Bancorp Long-Term Capital Lease Obligation Chart

University Bancorp Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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5.09

4.48

4.12

3.06

University Bancorp Semi-Annual Data
	Dec98	Dec99	Dec00	Dec01	Dec02	Dec03	Dec04	Dec05	Dec06	Dec07	Dec13	Dec14	Dec15	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	5.09	4.48	4.12	3.06

University Bancorp (OTCPK:UNIB) 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.

University Bancorp Long-Term Capital Lease Obligation Related Terms

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University Bancorp (University Bancorp) Business Description

Industry

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

Comparable Companies

Traded in Other Exchanges

N/A

Address

2015 Washtenaw Avenue, Ann Arbor, MI, USA, 48104

Website

https://www.university-bank.com

University Bancorp Inc is a holding company of University Bank (the Bank). It is a full-service community bank, which offers all customary banking services, including the acceptance of checking, savings and time deposits. The bank also makes commercial, real estate, personal, home improvement, automotive and another installment, credit card, and consumer loans, and provides fee-based services such as foreign currency exchange. The company's customer base is primarily located in the Ann Arbor, Michigan metropolitan statistical area. Its segments include The Bank & Midwest (community banking & servicing), ULG (mortgage banking), and UIF (faith-based lending).

Executives

Nicholas K Fortson	officer: CFO	959 MAIDEN LANE, ANN ARBOR MI 48105
Jove Corp	other: Affiliate of majority owner	3220 COOLIDGE HWY, BERKLEY MI 48072
Joseph Lange Ranzini	director, 10 percent owner	959 MAIDEN LANE, ANN ARBOR MI 48105
Stephen Lange Ranzini	director, 10 percent owner, officer: President & CEO	959 MAIDEN LANE, ANN ARBOR MI 48105
Mildred Lange Ranzini	10 percent owner	43 SWEETWATER, BELLE MEAD NJ 08502