Middlebury National (Middlebury National) Long-Term Capital Lease Obligation : $0.00 Mil (As of . 20)

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What is Middlebury National Long-Term Capital Lease Obligation?

Middlebury National's Long-Term Capital Lease Obligation for the quarter that ended in . 20 was $0.00 Mil.

Middlebury National Long-Term Capital Lease Obligation Historical Data

The historical data trend for Middlebury National'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.
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Middlebury National Long-Term Capital Lease Obligation Chart

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Long-Term Capital Lease Obligation

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Long-Term Capital Lease Obligation

Middlebury National (OTCPK:MDVT) 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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Middlebury National (Middlebury National) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Middlebury National Corp (OTCPK:MDVT) » Definitions » Long-Term Capital Lease Obligation

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Address

30 Main Street, PO Box 189, Middlebury, VT, USA, 05753

Website

https://www.nbmvt.com

Middlebury National Corp, along with its subsidiaries, provides financial services to individuals and businesses through offices in Midwest Vermont. It offers loans, mortgages, and online and mobile banking. The bank's main deposit products are current and savings accounts and certificates of deposit. The principal lending products are commercial, real estate, and consumer loans.

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