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Infinity Bancorp (Infinity Bancorp) Long-Term Capital Lease Obligation : $1.32 Mil (As of Dec. 2023)


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What is Infinity Bancorp Long-Term Capital Lease Obligation?

Infinity Bancorp's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $1.32 Mil.

Infinity Bancorp's quarterly Long-Term Capital Lease Obligation declined from Dec. 2021 ($1.08 Mil) to Dec. 2022 ($0.75 Mil) but then increased from Dec. 2022 ($0.75 Mil) to Dec. 2023 ($1.32 Mil).

Infinity Bancorp's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($1.08 Mil) to Dec. 2022 ($0.75 Mil) but then increased from Dec. 2022 ($0.75 Mil) to Dec. 2023 ($1.32 Mil).

Infinity Bancorp Long-Term Capital Lease Obligation Historical Data

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

Infinity Bancorp Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Long-Term Capital Lease Obligation
Get a 7-Day Free Trial 1.68 1.39 1.08 0.75 1.32

Infinity Bancorp Semi-Annual Data
Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Long-Term Capital Lease Obligation Get a 7-Day Free Trial 1.68 1.39 1.08 0.75 1.32

Infinity Bancorp  (OTCPK:INFT) 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.

Infinity Bancorp Long-Term Capital Lease Obligation Related Terms

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Infinity Bancorp (Infinity Bancorp) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Infinity Bancorp (OTCPK:INFT) » Definitions » Long-Term Capital Lease Obligation
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Traded in Other Exchanges
N/A
Address
6 Hutton Centre Drive, Suite 100, Santa Ana, CA, USA, 92707
Website
https://www.goinfinitybank.com
Infinity Bancorp operates as a community bank. It provides a full range of commercial banking products and solutions for retail and institutional customers. The company products and services include savings and checking accounts, credit cards, treasury management, payment processing, online banking, mobile banking, electronic statements, personal loans, commercial real estate loans and construction loans.