Preferred Bank (Preferred Bank) Long-Term Capital Lease Obligation : $18.4 Mil (As of Sep. 2023)

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What is Preferred Bank Long-Term Capital Lease Obligation?

Preferred Bank's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2023 was $18.4 Mil.

Preferred Bank's quarterly Long-Term Capital Lease Obligation declined from Mar. 2023 ($21.1 Mil) to Jun. 2023 ($20.1 Mil) and declined from Jun. 2023 ($20.1 Mil) to Sep. 2023 ($18.4 Mil).

Preferred Bank's annual Long-Term Capital Lease Obligation increased from Dec. 2020 ($18.7 Mil) to Dec. 2021 ($22.9 Mil) but then declined from Dec. 2021 ($22.9 Mil) to Dec. 2022 ($20.9 Mil).

Preferred Bank Long-Term Capital Lease Obligation Historical Data

The historical data trend for Preferred Bank'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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Preferred Bank Long-Term Capital Lease Obligation Chart

Preferred Bank Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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20.50

18.68

22.86

20.95

Preferred Bank Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															21.69	20.95	21.08	20.11	18.44

Preferred Bank (NAS:PFBC) 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.

Preferred Bank Long-Term Capital Lease Obligation Related Terms

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Preferred Bank (Preferred Bank) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Preferred Bank (NAS:PFBC) » Definitions » Long-Term Capital Lease Obligation

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Address

601 South Figueroa Street, 48th Floor, Los Angeles, CA, USA, 90017

Website

https://www.preferredbank.com

Preferred Bank is a commercial bank located in California. Its products and services are divided into Personal Banking, Business Banking, and Commercial Banking which includes Checking accounts, Savings accounts, CDs, Loans and Credit, Electronic banking and Treasury Management. It provides personalized deposit services, real estate finance, commercial loans, and trade finance credit facilities to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals and high-net-worth individuals. The bank generates a majority of its revenue from Southern and Northern California and Flushing.