Bancorp 34 (Bancorp 34) Long-Term Capital Lease Obligation : $5.20 Mil (As of Mar. 2024)

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What is Bancorp 34 Long-Term Capital Lease Obligation?

Bancorp 34's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $5.20 Mil.

Bancorp 34's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 ($2.08 Mil) to Dec. 2023 ($2.01 Mil) but then increased from Dec. 2023 ($2.01 Mil) to Mar. 2024 ($5.20 Mil).

Bancorp 34's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($0.47 Mil) to Dec. 2022 ($2.15 Mil) but then declined from Dec. 2022 ($2.15 Mil) to Dec. 2023 ($2.01 Mil).

Bancorp 34 Long-Term Capital Lease Obligation Historical Data

The historical data trend for Bancorp 34'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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Bancorp 34 Long-Term Capital Lease Obligation Chart

Bancorp 34 Annual Data

Trend

Jun14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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1.03

0.47

2.15

2.01

Bancorp 34 Quarterly Data
	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Dec21	Sep22	Dec22	Mar23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															2.15	-	2.08	2.01	5.20

Bancorp 34 (OTCPK:BCTF) 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.

Bancorp 34 Long-Term Capital Lease Obligation Related Terms

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Bancorp 34 (Bancorp 34) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Bancorp 34 Inc (OTCPK:BCTF) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

N/A

Address

500 East 10th Street, Suite 100, Alamogordo, NM, USA, 88310

Website

https://www.bank34.com

Bancorp 34 Inc provides a variety of banking services to individuals and businesses through its branches. Its products and services are demand deposits, certificates of deposits, savings and money market accounts, commercial loans, real estate mortgage loans and credit and merchant cards and e-banking. The bank operates banking centers in Alamogordo, Las Cruces, New Mexico, Scottsdale, Arizona, and Peoria.

Executives

James Crotty	officer: Co-President and CEO	500 EAST 10TH STREET, SUITE 100, ALAMOGORDO NM 88310
Elaine E. Ralls	director	500 EAST 10TH STREET, ALAMOGORDO NM 88310
Van Winkle Don P.	director	500 EAST 10TH STREET, ALAMOGORDO NM 88310
Wortham A. Cook	director	500 EAST 10TH STREET, ALAMOGORDO NM 88310
James D. Harris	director	500 EAST 10TH STREET, ALAMOGORDO NM 88310
Randal L. Rabon	director	500 EAST 10TH STREET, ALAMOGORDO NM 88310
William P. Kauper	officer: President/Dir Corp Development	500 EAST 10TH STREET, ALAMOGORDO NM 88310
Jan R Thiry	officer: President and CEO	500 EAST 10TH STREET, ALAMOGORDO NM 88310
Jill Gutierrez	director, officer: CEO	500 EAST 10TH STREET, ALAMOGORDO NM 88310
William F. Burt	director	500 EAST 10TH STREET, ALAMOGORDO NM 88310