First Pacific Bancorp (First Pacific Bancorp) Long-Term Capital Lease Obligation : $0.00 Mil (As of Sep. 2007)

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What is First Pacific Bancorp Long-Term Capital Lease Obligation?

First Pacific Bancorp's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2007 was $0.00 Mil.

First Pacific Bancorp Long-Term Capital Lease Obligation Historical Data

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

First Pacific Bancorp Annual Data

Trend

Long-Term Capital Lease Obligation

First Pacific Bancorp Quarterly Data
	Mar07	Jun07	Sep07
Long-Term Capital Lease Obligation	-	-	-

First Pacific Bancorp (OTCPK:FPBC) 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.

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First Pacific Bancorp (First Pacific Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First Pacific Bancorp (OTCPK:FPBC) » Definitions » Long-Term Capital Lease Obligation

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Address

16011 E. Whittier Boulevard, Whittier, CA, USA, 90603

Website

https://www.firstpacbank.com

First Pacific Bancorp is engaged in the banking business , it is a relationship-focused bank that offers custom financial solutions for individuals and businesses. It offers services such as mobile banking, consumer loans, personal online banking, personal savings and checking plans, business professional services, cash management services, and additional financial services among others. Its principal source of revenue is providing loans to customers, who are small and middle-market businesses and individuals.