Coastal Financial (Coastal Financial) Long-Term Capital Lease Obligation : $6.1 Mil (As of Dec. 2023)

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What is Coastal Financial Long-Term Capital Lease Obligation?

Coastal Financial's Long-Term Capital Lease Obligation for the quarter that ended in Dec. 2023 was $6.1 Mil.

Coastal Financial's quarterly Long-Term Capital Lease Obligation declined from Jun. 2023 ($6.4 Mil) to Sep. 2023 ($6.3 Mil) and declined from Sep. 2023 ($6.3 Mil) to Dec. 2023 ($6.1 Mil).

Coastal Financial's annual Long-Term Capital Lease Obligation declined from Dec. 2021 ($6.3 Mil) to Dec. 2022 ($5.2 Mil) but then increased from Dec. 2022 ($5.2 Mil) to Dec. 2023 ($6.1 Mil).

Coastal Financial Long-Term Capital Lease Obligation Historical Data

The historical data trend for Coastal Financial'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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Coastal Financial Long-Term Capital Lease Obligation Chart

Coastal Financial Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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8.68

7.32

6.32

5.23

6.12

Coastal Financial Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															5.23	5.02	6.41	6.32	6.12

Coastal Financial (NAS:CCB) 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.

Coastal Financial Long-Term Capital Lease Obligation Related Terms

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Coastal Financial (Coastal Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Coastal Financial Corp (NAS:CCB) » Definitions » Long-Term Capital Lease Obligation

Comparable Companies

Traded in Other Exchanges

1VD:Germany

Address

5415 Evergreen Way, Everett, WA, USA, 98203

Website

https://www.coastalbank.com

Coastal Financial Corp is a financial service provider. The company is engaged in providing banking products and services to consumers and small to medium sized businesses. The operating segment of the company is community banking. The services provided by the company include online banking and pay, mobile banking, securlock equip, and loans and deposit.

Executives

Eric M Sprink	director, officer: President & CEO	5415 EVERGREEN WAY, EVERETT WA 98203
Steven D Hovde	director	1110 LAKE COOK ROAD, SUITE 165, BUFFALO GROVE IL 60089
Andrew P Skotdal	director	5415 EVERGREEN WAY, EVERETT WA 98203
John J Dickson	officer: Chief Operations Officer	C/O COASTAL FINANCIAL CORP, 5415 EVERGREEN WAY, EVERETT WA 98203
Russ A Keithley	officer: Chief Lending Officer	5415 EVERGREEN WAY, EVERETT WA 98203
Curt Queyrouze	officer: President	5415 EVERGREEN WAY, EVERETT WA 98203
Thomas D Lane	director	5415 EVERGREEN WAY, EVERETT WA 98203
Michael Robert Patterson	director	5415 EVERGREEN WAY, EVERETT WA 98203
Andrew R Dale	director	5415 EVERGREEN WAY, EVERETT WA 98203
Pamela Unger	director	5415 EVERGREEN WAY, EVERETT WA 98203
Rilla S Delorier	director	5415 EVERGREEN WAY, EVERETT WA 98203
Daniel J Lee	officer: EVP & Chief Credit & Risk Off.	5415 EVERGREEN WAY, EVERETT WA 98203
Sadhana Akella-mishra	director	5415 EVERGREEN WAY, EVERETT WA 98203
Haugen John M Jr	director	5415 EVERGREEN WAY, EVERETT VA 98203
Stephan Klee	director	5415 EVERGREEN WAY, EVERETT WA 98203