Mechanics Bank (Mechanics Bank) Long-Term Capital Lease Obligation : $46.1 Mil (As of Dec. 2022)

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What is Mechanics Bank Long-Term Capital Lease Obligation?

Mechanics Bank's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2022 was $46.1 Mil.

Mechanics Bank's quarterly Long-Term Capital Lease Obligation declined from Dec. 2020 ($53.0 Mil) to Dec. 2021 ($38.0 Mil) but then increased from Dec. 2021 ($38.0 Mil) to Dec. 2022 ($46.1 Mil).

Mechanics Bank's annual Long-Term Capital Lease Obligation declined from Dec. 2020 ($53.0 Mil) to Dec. 2021 ($38.0 Mil) but then increased from Dec. 2021 ($38.0 Mil) to Dec. 2022 ($46.1 Mil).

Mechanics Bank Long-Term Capital Lease Obligation Historical Data

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

Mechanics Bank Annual Data

Trend

Dec04

Dec05

Dec06

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Long-Term Capital Lease Obligation

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64.27

53.04

38.05

46.09

Mechanics Bank Semi-Annual Data
	Dec02	Dec03	Dec04	Dec05	Dec06	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial							-	64.27	53.04	38.05	46.09

Mechanics Bank (OTCPK:MCHB) 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.

Mechanics Bank Long-Term Capital Lease Obligation Related Terms

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Mechanics Bank (Mechanics Bank) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Mechanics Bank (OTCPK:MCHB) » Definitions » Long-Term Capital Lease Obligation

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Address

3170 Hilltop Mall Road, Richmond, CA, USA, 94806

Website

https://www.mechanicsbank.com

Mechanics Bank operates as a community bank in California. The bank provides personal banking, business banking, trust, and estate services, brokerage, and wealth management services. The bank operates a network of retail banking branches, as well as regional commercial lending and wealth management offices throughout the state of California. The bank also engages in indirect automobile lending activities including origination, securitization, and servicing of new and pre-owned retail automobile sales contracts from both franchised and independent automobile dealerships.

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