Patriot Federal Bank NY (Patriot Federal Bank NY) Long-Term Capital Lease Obligation : $0.00 Mil (As of Sep. 2007)

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What is Patriot Federal Bank NY Long-Term Capital Lease Obligation?

Patriot Federal Bank NY's Long-Term Capital Lease Obligation for the quarter that ended in Sep. 2007 was $0.00 Mil.

Patriot Federal Bank NY Long-Term Capital Lease Obligation Historical Data

The historical data trend for Patriot Federal Bank NY'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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Patriot Federal Bank NY Long-Term Capital Lease Obligation Chart

Patriot Federal Bank NY Annual Data

Trend

Long-Term Capital Lease Obligation

Patriot Federal Bank NY Quarterly Data
	Mar07	Jun07	Sep07
Long-Term Capital Lease Obligation	-	-	-

Patriot Federal Bank NY (OTCPK:PFDB) 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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Patriot Federal Bank NY (Patriot Federal Bank NY) Business Description

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http://www.patriotfederalbank.com

Patriot Federal Bank NY was established in December 2005. It offers a variety of products tailored to the people of the Mohawk Valley and surrounding areas. Patriot Federal Bank offers an array of personal checking account options. The Bank offers home equity loans and lines of credit at extremely competitive rates. Patriot Federal Bank also offers a variety of personal loans at highly competitive rates. The Bank's goal is to provide quality financial services in a personal, professional manner.

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