BayFirst Financial (BayFirst Financial) Long-Term Capital Lease Obligation : $2.67 Mil (As of Mar. 2024)

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What is BayFirst Financial Long-Term Capital Lease Obligation?

BayFirst Financial's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was $2.67 Mil.

BayFirst Financial's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 ($2.81 Mil) to Dec. 2023 ($2.62 Mil) but then increased from Dec. 2023 ($2.62 Mil) to Mar. 2024 ($2.67 Mil).

BayFirst Financial's annual Long-Term Capital Lease Obligation increased from Dec. 2021 ($3.43 Mil) to Dec. 2022 ($3.54 Mil) but then declined from Dec. 2022 ($3.54 Mil) to Dec. 2023 ($2.62 Mil).

BayFirst Financial Long-Term Capital Lease Obligation Historical Data

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

BayFirst Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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2.95

3.93

3.43

3.54

2.62

BayFirst Financial Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															3.21	3.02	2.81	2.62	2.67

BayFirst Financial (NAS:BAFN) 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.

BayFirst Financial Long-Term Capital Lease Obligation Related Terms

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BayFirst Financial (BayFirst Financial) Business Description

Industry

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

Comparable Companies

Traded in Other Exchanges

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Address

700 Central Avenue, Suite 100, Saint Petersburg, FL, USA, 33701

Website

https://www.bayfirstfinancial.com

BayFirst Financial Corp is a one-bank holding company, it generates its revenue from interest on loans and the gain-on-sale income derived from the sale of loans into the secondary market. The company serves a broad spectrum of individuals, families, and small businesses, supported by national business lines in residential and SBA lending and technology platforms. The primary source of funding for its loans is deposits. BayFirst measures performance through net interest income after provision for loan losses, return on average assets, and return on average common equity, while maintaining appropriate regulatory leverage and risk-based capital ratios.

Executives

Scott Joseph Mckim	officer: EVP, Chief Financial Officer	700 CENTRAL AVE, ST PETERSBURG FL 33701
Thomas Gerard Zernick	officer: Executive Vice President	700 CENTRAL AVE, ST PETERSBURG FL 33701
Anthony N Leo	director, officer: Chief Executive Officer	700 CENTRAL AVE, SAINT PETERSBURG FL 33701
Rhonda S Tudor	officer: SVP, Chief Accounting Officer	1032 STONEY CREEK LN., MOUNT PLEASANT MI 48858
Anthony Saravanos	director	3802 COCONUT PALM DRIVE, TAMPA FL 33619
Sheryl Wudunn	director	700 CENTRAL AVE, ST PETERSBURG FL 33701
Tarek Helal	director	700 CENTRAL AVE, ST PETERSBURG FL 33701
Harold Jack Winner	director	700 CENTRAL AVE, ST PETERSBURG FL 33701
Derek Steven Berset	director	700 CENTRAL AVE, ST PETERSBURG FL 33701
Bradly William Spoor	director	700 CENTRAL AVE, ST PETERSBURG FL 33701
Matthew Mann Luckey	officer: Executive Vice President	700 CENTRAL AVE, ST PETERSBURG FL 33701
Brandi Nicole Jaber	officer: Executive Vice President	700 CENTRAL AVE, ST PETERSBURG FL 33701
Christos Politis	director	700 CENTRAL AVE, ST PETERSBURG FL 33701
Robin Leigh Oliver	officer: Chief Financial Officer	700 CENTRAL AVE, ST PETERSBURG FL 33701
Alexander Octavius Harris	director	700 CENTRAL AVE, ST PETERSBURG FL 33701